MIRA INFORM REPORT
|
Report No. : |
346916 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
FG GLASS INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No.4-A, 167-C, Poonewadi, Dr. B. Ambedkar Road, Dadar (East), Mumbai-400014, Maharashtra |
|
Tel. No.: |
91-22-64577735/41 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.01.2004 |
|
|
|
|
Com. Reg. No.: |
11-143853 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 20.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26101MH2004PTC143853 |
|
|
|
|
IEC No.: |
0304000795 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM7716R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Architectural Glass. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 is established company having a satisfactory track record. It
processes float glass for architectural and industrial applications. The
company is managed the Amravatiwala family; its manufacturing facilities are
in Taloja (Maharashtra). The ratings reflect company’s above-average financial risk profile,
marked by moderate gearing and above-average debt protection metrics. The ratings also factor in the company’s moderately high operating margin,
diversified product profile and established cliental base. This rating strengths is partially offset by company’s exposure to
risks related to the commodity nature of the float glass business and to
intense industry competition. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. In view of decent operational and financial base, the company can be
considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Facilities BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
27.05.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank Facilities A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
27.05.2015 |
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. Sameer M. Bait |
|
Designation : |
Manager |
|
Contact No.: |
91-9820367964 |
|
Date : |
26.10.2015 |
LOCATIONS
|
Registered Office : |
Flat No.4-A, 167-C, Poonewadi, Dr. B. Ambedkar Road, Dadar (East), Mumbai-400014, Maharashtra, India |
|
Tel. No.: |
91-22-64577735/41 |
|
Mobile No.: |
91-9820367964 (Mr. Sameer) |
|
Fax No.: |
91-22-24133200 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory : |
Plot No. L – 15 – 1, MIDC, Taloja Industrial Estate, Taloja, District:
Raigad– 410208, Maharashtra, India |
|
Tel. No.: |
91-22-64577700-25 |
|
Fax No.: |
91-22-2740 28800 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Suhel F. Amravatiwala |
|
Designation : |
Managing Director |
|
Address : |
1401 Sarkar Tower No.1, Off. Nesbit Road, Mazgaon, Mumbai – 400 010, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1976 |
|
Date of Appointment : |
05.01.2004 |
|
DIN No.: |
00420929 |
|
|
|
|
Name : |
Mr. Nurul Hasan Erfan Shabbir Husain |
|
Designation : |
Director |
|
Address : |
92 Ajay Apartment, Byculla, Mumbai-400027, Maharashtra, India |
|
Date of Birth/Age : |
12.05.1971 |
|
Date of Appointment : |
01.07.2005 |
|
DIN No.: |
00421055 |
|
|
|
|
Name : |
Mr. Tariq Sajjadhusain Kachwala |
|
Designation : |
Director |
|
Address : |
1303,Sarkar Tower II, 50, Nesbit Road Mazgaon, Mumbai-400010, Maharashtra, India |
|
Date of Birth/Age : |
26.06.1981 |
|
Date of Appointment : |
01.07.2005 |
|
DIN No.: |
00421286 |
|
|
|
|
Name : |
Mr. Fakhruddin Fidahusain |
|
Designation : |
Director |
|
Address : |
Sarkar Tower 1, Flat No 1401/1402, A Wing 14th Floor, 50 Nesbit Road, Mazgaon, Mumbai-400010, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1946 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03177721 |
|
|
|
|
Name : |
Mr. Sajjadhusain Fidahusain |
|
Designation : |
Director |
|
Address : |
Sarkar Tower E 13th Floor, Flat, No 3, Nesbit Road, Mumbai-400010, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1950 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03266524 |
KEY EXECUTIVES
|
Name : |
Mr. Sameer M. Bait |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Suhel F. Amravatiwala |
60000 |
30.00 |
|
Nurul E Irfan |
40000 |
20.00 |
|
Tariq Sajjadhusain Kachwala |
40000 |
20.00 |
|
Fakhruddin Fidahusain |
30000 |
15.00 |
|
Sajjadhusain Fidahusain |
30000 |
15.00 |
|
Total |
200000 |
100.00 |
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 of Architectural Glass. |
|
|
|
|
Products : |
Architectural Glass |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Germany ·
Bangladesh ·
South Africa ·
Kenya ·
European Countries |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
United States of America ·
Italy ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Cash / Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Union Bank of India, Null Bazar Branch, 326-328, Haroon Manzil, S. V. P. Road, Null Bazar, Mumbai - 400003, Maharashtra, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
S R Dhariwal and Company Chartered Accountants |
|
Address : |
27 Steel Yard House, S T Marg, Carnac Bunder, Masjid East, Mumbai-
400009,
Maharashtra, India |
|
Tel. No.: |
91-22-23480031 |
|
Mobile No.: |
91-9819911441 |
|
Fax No.: |
91-22-23480051 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AHBPD1183D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000
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 |
20.000 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
122.510 |
100.197 |
81.647 |
|
(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) |
142.510 |
120.197 |
101.647 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
74.746 |
98.248 |
47.790 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
74.746 |
98.248 |
47.790 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
162.005 |
148.570 |
165.764 |
|
(b) Trade
payables |
49.049 |
51.084 |
73.220 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
11.809 |
|
(d) Short-term
provisions |
10.888 |
10.031 |
5.105 |
|
Total Current
Liabilities (4) |
221.942 |
209.685 |
255.898 |
|
|
|
|
|
|
TOTAL |
439.198 |
428.130 |
405.335 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
111.326 |
129.238 |
141.672 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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 |
7.427 |
6.741 |
6.838 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
118.753 |
135.979 |
148.510 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
89.938 |
80.158 |
74.030 |
|
(c) Trade
receivables |
155.814 |
161.052 |
142.991 |
|
(d) Cash
and cash equivalents |
8.285 |
2.288 |
3.638 |
|
(e)
Short-term loans and advances |
6.532 |
5.871 |
5.561 |
|
(f) Other
current assets |
59.876 |
42.782 |
30.605 |
|
Total
Current Assets |
320.445 |
292.151 |
256.825 |
|
|
|
|
|
|
TOTAL |
439.198 |
428.130 |
405.335 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
640.406 |
533.056 |
590.296 |
|
|
|
Other Income |
2.047 |
1.084 |
0.862 |
|
|
|
TOTAL (A) |
642.453 |
534.140 |
591.158 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
567.355 |
456.560 |
513.613 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
75.098 |
77.580 |
77.545 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND FINANCIAL EXPENSES (D) |
25.134 |
29.379 |
24.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
49.964 |
48.201 |
53.326 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
17.650 |
19.652 |
22.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
32.314 |
28.549 |
31.176 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
32.314 |
28.549 |
31.176 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
71.086 |
55.448 |
99.818 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
161.57 |
142.745 |
155.88 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
700.000 |
The above information has been parted by Mr. Sameer M. Bait (Manager)
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 |
|
Net cash flows from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.05 |
5.36 |
5.28 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.73 |
14.55 |
13.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.36 |
6.67 |
7.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.24 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.66 |
2.05 |
2.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.39 |
1.00 |
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 |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
81.647 |
100.197 |
122.510 |
|
Net
worth |
101.647 |
120.197 |
142.510 |
|
|
|
|
|
|
long-term borrowings |
47.790 |
98.248 |
74.746 |
|
Short term borrowings |
165.764 |
148.570 |
162.005 |
|
Total
borrowings |
213.554 |
246.818 |
236.751 |
|
Debt/Equity
ratio |
2.101 |
2.053 |
1.661 |
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 |
590.296 |
533.056 |
640.406 |
|
|
|
(9.697) |
20.139 |
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 |
590.296 |
533.056 |
640.406 |
|
Profit |
31.176 |
28.549 |
32.314 |
|
|
5.28% |
5.36% |
5.05% |
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 |
No |
|
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 |
No |
|
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 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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term Loans |
|
|
|
From Directors |
19.620 |
16.131 |
|
From Relatives |
36.050 |
36.074 |
|
Total |
55.670 |
52.205 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10520377 |
17/09/2014 |
32,000,000.00 |
UNION BANK OF INDIA |
Null Bazar Branch, 326-328, Haroon Manzil,, S.V.P. Road, Bhendi Bazar,
Mumbai, Maharashtra - 400003 |
C21011812 |
|
2 |
10458524 |
24/10/2013 |
50,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, Maharas htra - 400001,
INDIA |
B88863956 |
|
3 |
10388736 |
07/11/2012 |
22,000,000.00 |
UNION BANK OF INDIA |
NULL BAZAR BRANCH,, 326/328, HARUN MANZIL, S.V.P. ROAD, BHENDI
BAZAR,, MUMBAI, Maharashtra - 400003 |
B62864392 |
|
4 |
10120179 |
09/08/2008 |
66,500,000.00 |
UNION BANK OF INDIA |
NULL BAZAR BRANCH,, 326-328, HAROON MANZIL, S. V. P. ROAD, NULL
BAZAR,, MUMBAI, Maharashtra - 400003, INDIA |
A44581122 |
|
5 |
10051928 |
19/04/2007 |
65,000,000.00 |
UNION BANK OF INDIA |
NULL BAZAR BRANCH, 326-328 HAROON MANZIL, S. .V. P. ROAD, NULL
BAZAR,, MUMBAI, Maharashtra - 400003, INDIA |
A15176654 |
|
6 |
80004131 |
30/01/2012 * |
187,404,000.00 |
UNION BANK OF INDIA |
NULL BAZAR BRANCH,, HARUN MANZIL, 326-328 S. V. P . ROAD, BHENDI
BAZAR,, MUMBAI, Maharashtra - 400003, INDIA |
B32294217 |
|
7 |
90145462 |
09/08/2008 * |
25,000,000.00 |
UNION BANK OF INDIA |
NULL BAZAR BRANCH,, 326-328, HAROON MANZIL, S. V. |
A44580611 |
|
8 |
80004126 |
30/01/2012 * |
80,000,000.00 |
UNION BANK OF INDIA |
NULL BAZAR BRANCH, HARUN MANZIL, 326-328 S. V. P. ROAD, BHENDI
BAZAR,, MUMBAI, Maharashtra - 400003, INDIA |
B32292872 |
|
9 |
90146761 |
14/10/2004 |
20,000,000.00 |
UNION BANK OF INDIA |
NUFL BAZAR BRANCH; HAROON MANZIL, 326-328; S. V. |
- |
* Date of charge modification
FIXED ASSETS
- Land and building
- Air conditioner
- Computer
- Electrical Equipment
- Furniture and fixture
- Vehicle
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.99.88 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.