MIRA INFORM REPORT
|
Report No. : |
347033 |
|
Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHAKOSHAL REFRACTORIES PRIVATE LIMITED |
|
|
|
|
Formerly Known
as : |
MAHAKOSHAL CERAMIC |
|
|
|
|
Registered
Office : |
B-801, Eternia, Hiranandani Garden, Powai, Mumbai - 400076,
Maharashtra |
|
Tel. No.: |
91-22-25707216 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
20.12.2005 |
|
|
|
|
Com. Reg. No.: |
11-158200 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 81.558
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2005PTC158200 |
|
|
|
|
IEC No.: |
0305079590 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM28489G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM4903B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Shaped and Unshaped Refractories. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1968 as a partnership concern with
the name “ Mahakoshal Ceramic ” and later during 2005 it got converted into
private limited with the name “Mahakoshal Refractories Private Limited” It is an established company incorporated in the year 2005 having
satisfactory track record. Available financial indicates company sound financial risk profile
marked by healthy net worth position with low borrowings recorded and decent
profit margin of the company. Further, the rating also takes into consideration favorable gap
between trade payables and trade receivables. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Moderate degree of safety, It carry moderate credit risk |
|
Date |
21.01.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Moderate degree f safety, it carry higher credit risk |
|
Date |
21.01.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Anurag Singhai |
|
Designation : |
Senior Manager Accounts |
|
Contact No.: |
91-7622-222682 |
LOCATIONS
|
Registered Office : |
B-801, Eternia, Hiranandani Garden, Powai, Mumbai - 400076,
Maharashtra, India |
|
Tel. No.: |
91-22-25707216 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Administrative Office : |
Industrial Area, Katay Ghat Road, Katni - 483501, Madhya Pradesh,
India |
|
Tel. No.: |
91-7622-222682 / 223212 / 406394 |
|
Fax No.: |
91-7622-222733 / 406051 |
|
|
|
|
Factory : |
Industrial Area, Katey Ghat, Katni - 483501, Madhya Pradesh, India |
|
Tel. No.: |
91-7622-222682 / 223212 / 406394 |
|
Fax No.: |
91-7622-222733 / 406051 |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Kantilal Gugalia |
|
Designation : |
Director |
|
Address : |
Ward No. 29, H-17, Housing Board Colony, Katni-483501, Madhya Pradesh, India |
|
Date of Birth/Age : |
27.09.1940 |
|
Date of Appointment : |
20.12.2005 |
|
PAN No.: |
AEJPG7136G |
|
DIN No.: |
00009398 |
|
|
|
|
Name : |
Mr. Sharad Chand Gugalia |
|
Designation : |
Director |
|
Address : |
Ward No. 29, H-17, Housing Board Colony, Katni-483501, Madhya Pradesh, India |
|
Date of Birth/Age : |
24.10.1942 |
|
Date of Appointment : |
20.12.2005 |
|
PAN No.: |
AEJPG7137H |
|
DIN No.: |
00531430 |
|
|
|
|
Name : |
Mr. Jaswant Singh Gugalia |
|
Designation : |
Additional director |
|
Address : |
2, Jabalpur Road, NH-7, Katni - 483501, Madhya Pradesh, India |
|
Date of Birth/Age : |
22.09.1947 |
|
Date of Appointment : |
30.09.2013 |
|
PAN No.: |
AEJPG7139K |
|
DIN No.: |
00662486 |
|
|
|
|
Name : |
Mr. Vinay Kumar Jain |
|
Designation : |
Additional director |
|
Address : |
C/O, Mahakoshal Potteries Industrial Area, Katni – 483501, Madhya Pradesh, India |
|
Date of Birth/Age : |
08.07.1957 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
05226105 |
|
|
|
|
Name : |
Mr. Sudhir Gugalia |
|
Designation : |
Additional director |
|
Address : |
75, Adarsh Nagar, Narmada Road, Jabalpur - 482008, Madhya Pradesh, India |
|
Date of Birth/Age : |
15.07.1963 |
|
Date of Appointment : |
30.09.2013 |
|
PAN No.: |
AEJPG7135F |
|
DIN No.: |
03113832 |
|
|
|
|
Name : |
Mr. Arvind Gugalia |
|
Designation : |
Additional director |
|
Address : |
Nehru Ward 2, Jabalpur Road, Katni - 483501, Madhya Pradesh, India |
|
Date of Birth/Age : |
15.08.1967 |
|
Date of Appointment : |
30.09.2013 |
|
PAN No.: |
AEJPG7138J |
|
DIN No.: |
00638760 |
|
|
|
|
Name : |
Vandana Gugalia |
|
Designation : |
Additional director |
|
Address : |
Mahakoshal Ceramics Industrial Area, Katni - 483501, Madhya Pradesh, India |
|
Date of Birth/Age : |
26.06.1968 |
|
Date of Appointment : |
30.09.2013 |
|
PAN No.: |
AFGPG6195P |
|
DIN No.: |
06671985 |
|
|
|
|
Name : |
Mayank Gugalia |
|
Designation : |
Additional director |
|
Address : |
Nehru Ward 2, Jabalpur Road, Katni - 483501, Madhya Pradesh, India |
|
Date of Birth/Age : |
25.02.1975 |
|
Date of Appointment : |
30.09.2013 |
|
PAN No.: |
AEKPG0456J |
|
DIN No.: |
00638791 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Arvind Gugalia |
617513 |
|
Avik Gugalia |
555842 |
|
Jashwant Singh Gugalia |
800000 |
|
Kantilal Gugalia |
520995 |
|
Mayank Gugalia |
730045 |
|
Rohan Gugalia |
532540 |
|
Shantilal Gugalia |
532540 |
|
Sudhir Gugalia |
617511 |
|
Vinay Kumar Jain |
404530 |
|
Deepika Gugalia |
526863 |
|
Kanta Gugalia |
368426 |
|
Lata Gugalia |
526864 |
|
Leela Gugalia |
368641 |
|
Rajni Gugalia |
532540 |
|
Vandana Gugalia |
520995 |
|
Total |
8155845 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Shaped and Unshaped
Refractories. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
Exports : |
|
|
Products : |
Shaped and Unshaped Refractories |
|
Countries : |
|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
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Terms : |
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Selling : |
Cheque and Credit |
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|
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Purchasing : |
Cheque and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End User and OEM’s
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Agrawal Gupta and Company Chartered Accountants |
|
Address : |
23/24, |
|
Tel. No.: |
91-712-22525541 |
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E-Mail : |
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|
PAN No.: |
AASSA0552L |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9800000 |
Equity Shares |
Rs.10/- each |
Rs. 98.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8155845 |
Equity Shares |
Rs.10/- each |
Rs. 81.558 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
81.558 |
51.847 |
51.847 |
|
(b) Reserves & Surplus |
286.798 |
159.346 |
127.559 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
368.356 |
211.193 |
179.406 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
106.175 |
39.821 |
55.823 |
|
(b) Deferred tax liabilities (Net) |
18.791 |
18.485 |
15.046 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
124.966 |
58.306 |
70.869 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
254.692 |
204.135 |
101.915 |
|
(b) Trade
payables |
68.347 |
46.778 |
51.550 |
|
(c) Other
current liabilities |
17.491 |
2.632 |
7.525 |
|
(d) Short-term
provisions |
11.249 |
9.157 |
3.729 |
|
Total Current
Liabilities (4) |
351.779 |
262.702 |
164.719 |
|
|
|
|
|
|
TOTAL |
845.101 |
532.201 |
414.994 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
227.632 |
182.843 |
175.496 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.540 |
0.592 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.692 |
1.992 |
1.859 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
232.324 |
185.375 |
177.947 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
9.914 |
5.824 |
3.329 |
|
(b)
Inventories |
334.027 |
154.478 |
135.380 |
|
(c) Trade
receivables |
221.293 |
167.037 |
77.765 |
|
(d) Cash
and cash equivalents |
0.162 |
0.279 |
0.247 |
|
(e)
Short-term loans and advances |
47.381 |
19.208 |
20.326 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
612.777 |
346.826 |
237.047 |
|
|
|
|
|
|
TOTAL |
845.101 |
532.201 |
414.994 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1274.893 |
849.442 |
469.323 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
78.720 |
46.301 |
30.340 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
25.541 |
15.022 |
11.441 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
53.179 |
31.279 |
18.899 |
|
|
|
|
|
|
|
|
|
|
INCOME TAX AND
FBT TRANSFER TO PROFIT & LOSS ACCOUNT OF PRIOR PERIOD |
0.000 |
0.000 |
0.847 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
158.837 |
127.558 |
109.506 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
212.016 |
158.837 |
127.558 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.52 |
6.13 |
3.65 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
1180.000 |
Expected Sales (2015-16): Rs. 1000.000 Million (Due to Recession).
The above information has been parted by Anurag singhai (Senior Manager
Accounts).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Cash generated from (Used) operations |
NA |
NA |
NA |
|
Cash generated from Operating Activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.17 |
3.68 |
4.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.31 |
8.71 |
7.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.22 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.98 |
1.16 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74 |
1.32 |
1.44 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
51.847 |
51.847 |
81.558 |
|
Reserves & Surplus |
127.559 |
159.346 |
286.798 |
|
Net
worth |
179.406 |
211.193 |
368.356 |
|
|
|
|
|
|
long-term borrowings |
55.823 |
39.821 |
106.175 |
|
Short term borrowings |
101.915 |
204.135 |
254.692 |
|
Total
borrowings |
157.738 |
243.956 |
360.867 |
|
Debt/Equity
ratio |
0.879 |
1.155 |
0.980 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
469.323 |
849.442 |
1274.893 |
|
|
|
80.993 |
50.086 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
469.323 |
849.442 |
1274.893 |
|
Profit |
18.899 |
31.279 |
53.179 |
|
|
4.03% |
3.68% |
4.17% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL
PERFORMANCE:
During
the year, the gross turnover of the Company increased from Rs. 850.200 Million to Rs. 1,274.900
Million. The earnings before interest, tax depreciation and amortisation for
the same period increased from Rs. 75.800 Million to Rs.129.300 Million and the
Net Profit increased from Rs. 31.800 Million to Rs. 53.200 Million in the
current year.
MERGER OF
COMPANIES:
During the year the company merged with the companies Mahakoshal Potteries Private Limited and Katni Tile Works Private Limited w.e.f 01.04.2013 in order to take advantage of economies of scale and to save on operating cost, which is very much needed at the present period of recession and fierce competition. The companies accounting figure for this year therefore should not be compared with those of previous year as the present year figures are of the merged company.
PROSPECTS AND
OUTLOOK:
The company continued its efforts to strengthen its relationship with customers both in domestic and international market during the year. The company has made growth even in the current sluggish market and it is hoped that the economy would improve in the current year and with the infrastructure industry gaining all around attention demand for power, steel and cement would increase which would result in higher demand for refractories.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
100.978 |
24.008 |
|
Total |
100.978 |
24.008 |
INDEX OF CHARGES
|
Sr. No. |
Charge ID |
Date of Charge
Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10382528 |
23/01/2013 * |
70,600,000.00 |
HDFC Bank Limited |
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B67058909 |
|
2 |
10258960 |
31/01/2014 * |
373,136,000.00 |
HDFC Bank Limited |
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B95928792 |
|
3 |
10258288 |
31/01/2014 * |
373,136,000.00 |
HDFC Bank Limited |
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B95928347 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 64.88 |
|
|
1 |
Rs. 99.89 |
|
Euro |
1 |
Rs. 72.06 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SYL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.