MIRA INFORM REPORT
|
Report No. : |
346950 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
COLOROBBIA CHEMICALS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201, Samaan-II, Opposite Reliance Petrol Pump, 100 Feet Road, Anand
Nagar, Satellite, Ahmedabad-380015, Gujarat |
|
Tel. No.: |
91-79-40066644 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.06.2012 |
|
|
|
|
Com. Reg. No.: |
04-070752 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 135.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24121GJ2012FTC070752 |
|
|
|
|
IEC No.: |
0812009053 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC03798E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECC8690B |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer and Trader of Ceramic Goods. |
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|
|
|
No. of Employees
: |
36 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Colorobbia Espana S.A’’ Spain. It is engaged in the business as manufacturer and trader of ceramic
goods. It is an established company incorporated in the year 2012 having
moderate track. The company has incurred heavy loss during FY 2014 which has further
resulted into some accumulated losses incurred by the company. Further, the rating also takes into consideration limited track record
of business operation and unfavorable gap between trade payables and trade
receivables. Moreover, this rating weakness is partially offset by debt free
balance sheet of the company and support received to the company from its
holding company. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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. Anil Chauhan |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-79-40066644 |
|
Date : |
23.10.2015 |
LOCATIONS
|
Registered Office : |
201, Samaan-II, Opposite Reliance Petrol Pump, 100 Feet Road, Anand Nagar,
Satellite, Ahmedabad-380015, Gujarat, India |
|
Tel. No.: |
91-79-40066644 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse : |
Located at: · Changodar, Ahmedabad, Gujarat, India |
|
|
|
|
Branch Office : |
Located at: Morbi, Gujarat, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rajashekhar Shanmukhappa Shettar |
|
Designation : |
Director |
|
Address : |
Flat No. B/72, Shaligram-3, Prahladnagar Road, Vejalpur,
Ahmedabad-380051, Gujarat, India |
|
Date of Birth/Age : |
17.04.1966 |
|
Date of Appointment : |
21.06.2012 |
|
PAN No.: |
AGIPS1868C |
|
DIN No.: |
03044246 |
|
|
|
|
Name : |
Mr. Enrico Cecchi |
|
Designation : |
Director |
|
Address : |
Via Don G. Minzoni, 49, Capraia E Limite, 50050, Italy |
|
Date of Birth/Age : |
23.07.1954 |
|
Date of Appointment : |
14.06.2012 |
|
DIN No.: |
05236043 |
|
|
|
|
Name : |
Mr. Fabio Frega |
|
Designation : |
Director |
|
Address : |
Via Dal Pane, 29, Faenza Ra, 48018, Italy |
|
Date of Birth/Age : |
18.02.1960 |
|
Date of Appointment : |
14.06.2012 |
|
DIN No.: |
05236050 |
|
|
|
|
Name : |
Mr. Paolo Cioni |
|
Designation : |
Director |
|
Address : |
Largo Australia No. 4, Montelupo Fiorentino, 50056, Italy |
|
Date of Birth/Age : |
18.02.1960 |
|
Date of Appointment : |
14.06.2012 |
|
DIN No.: |
05236055 |
|
|
|
|
Name : |
Mr. Gian Paolo Capitanio |
|
Designation : |
Director |
|
Address : |
Viale Bellini No. 70, Sassuolo Mo, 41049, Italy |
|
Date of Birth/Age : |
21.09.1962 |
|
Date of Appointment : |
14.06.2012 |
|
DIN No.: |
05236733 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Chauhan |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Colorobbia Espana SA, Spain |
|
223245 |
|
Colorobbia Holding SPA, Italy |
|
2255 |
|
Total |
|
225500 |
AS ON 18.05.2015
|
Names of Allottee |
|
No. of Shares |
|
Colorobbia Espana SA, Spain |
|
49500 |
|
Colorobbia Holding SPA, Italy |
|
500 |
|
Total |
|
50000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Ceramic Goods. |
|
|
|
|
Brand Names : |
-- |
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|
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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|
|
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
36 (Approximately) |
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Bankers : |
· HDFC Bank Limited Prahlad Nagar, Ahmedabad, Gujarat, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
J.
T. Shah and Company Chartered Accountants |
|
Address : |
Ahmedabad,
Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFJ6616J |
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|
|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
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Holding Company : |
Colorobbia
Espana S.A., Spain |
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|
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Fellow Subsidiary Company : |
Colorobbia
Italia S.P.A. |
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|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
Speed
Service Orgnisation |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 500.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 425.000 Million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
265,000 |
Equity Shares |
Rs. 1000/- each |
Rs. 265.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
225,500 |
Equity Shares |
Rs. 1000/- each |
Rs. 225.500
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
265,000 |
Equity Shares |
Rs. 1000/- each |
Rs. 265.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
135,500 |
Equity Shares |
Rs. 1000/- each |
Rs. 135.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
135.500 |
17.000 |
|
(b) Reserves & Surplus |
|
(26.952) |
1.084 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
90.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
198.548 |
18.084 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.026 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.000 |
0.026 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
80.949 |
94.915 |
|
(c)
Other current liabilities |
|
8.583 |
14.860 |
|
(d)
Short-term provisions |
|
5.201 |
0.082 |
|
Total
Current Liabilities (4) |
|
94.733 |
109.857 |
|
|
|
|
|
|
TOTAL |
|
293.281 |
127.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
93.266 |
5.183 |
|
(ii)
Intangible Assets |
|
1.700 |
1.596 |
|
(iii)
Capital work-in-progress |
|
3.881 |
0.885 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
3.957 |
0.062 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
102.804 |
7.726 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
54.759 |
57.772 |
|
(c)
Trade receivables |
|
63.507 |
45.322 |
|
(d)
Cash and cash equivalents |
|
43.538 |
5.638 |
|
(e)
Short-term loans and advances |
|
15.333 |
11.509 |
|
(f)
Other current assets |
|
13.340 |
0.000 |
|
Total
Current Assets |
|
190.477 |
120.241 |
|
|
|
|
|
|
TOTAL |
|
293.281 |
127.967 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
286.878 |
81.413 |
|
|
|
Other Income |
|
1.641 |
3.067 |
|
|
|
TOTAL |
|
288.519 |
84.480 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
314.862 |
82.437 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(26.343) |
2.043 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.719 |
0.381 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(28.062) |
1.662 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(0.026) |
0.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(28.036) |
1.084 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
5.936 |
3.516 |
|
|
TOTAL EARNINGS |
|
5.936 |
3.516 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
C.I.F. Value of Imports |
|
190.598 |
112.965 |
|
|
TOTAL IMPORTS |
|
190.598 |
112.965 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(206.91) |
0.64 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
|
|
|
|
|
The above information has been parted by Mr. Anil Chauhan (Accounts
Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
0.000 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
|
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
|
(96.254) |
(1.546) |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
(9.77) |
1.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(9.70) |
1.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.14) |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.01 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
17.000 |
135.500 |
|
Reserves & Surplus |
1.084 |
(26.952) |
|
Money received against share warrants |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
90.000 |
|
Net
worth |
18.084 |
198.548 |
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
81.413 |
286.878 |
|
|
|
252.374 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
81.413 |
286.878 |
|
Profit |
1.084 |
(28.036) |
|
|
1.33% |
(9.77%) |
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 |
No |
|
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) |
No |
|
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 |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10566619 |
23/01/2015 |
20,000,000.00 |
BNP PARIBAS |
203, SARKAR-2, ASHRAM ROAD, ELLISBRIDGE, AHMEDABAD- 380006, GUJARAT, INDIA |
C52256328 |
FINANCIAL RESULTS:
During the year the Company
has earned Revenue from operations amounting to Rs. 286.878 Million (Previous year
Rs. 81.413 Million), Other Income amounting to Rs. 16.41(Previous year Rs.
3.067 Million) and incurred Net Loss of Rs. 28.036 Million (Profit Previous
year Rs. 10.084 Million) after providing Depreciation and amortization expense
of Rs. 1.719 Million (Previous year Rs. 0.381 Million) Current Tax of NIL
(Previous year Rs. 0.553 Million) and Deferred Tax of Rs. (0.026 Million)
[Previous year Rs. 0.026 Million].
FIXED ASSETS:
Tangible Assets
·
Land
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other Equipments
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 records 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. 64.96 |
|
|
1 |
Rs. 99.55 |
|
Euro |
1 |
Rs. 71.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.