MIRA INFORM REPORT
|
Report No. : |
346429 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RASHMI YARNS LIMITED |
|
|
|
|
Formerly Known
As : |
RASHMI YARN PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
405, Metro Tower, Ring Road, Surat – 395002, Gujarat |
|
Tel. No.: |
91-22-25134314 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.09.1997 |
|
|
|
|
Com. Reg. No.: |
04-033075 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.005 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ1997PLC033075 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Manufacturing and Selling of Yarn. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Rashmi Yarns Limited was set up as a private limited company in 1997,
became a public limited company in 2006 and is engaged in texturizing and twisting
of polyester partially oriented yarn. Rating on company reflects modest scale of operations in the intensely
competitive texturized yarn segment and the company’s
working-capital-intensive operations. The ratings also factor in
below-average financial risk profile, marked by modest net worth and subdued
debt protection metrics. This rating weaknesses is partially offset by the extensive industry
experience of its promoters and established track record of the business
operations. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealing with some cautions. |
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 Bank Facilities = B |
|
Rating Explanation |
Risk-prone-credit-quality and carries very high credit risk. |
|
Date |
May 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 DENIED BY
|
Name : |
Mr. Virendra |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-25134314 |
|
Date : |
21.10.2015 |
LOCATIONS
|
Registered Office : |
405, Metro Tower, Ring Road, Surat – 395002, Gujarat, India |
|
Tel. No.: |
91-261-2344031/3268501 |
|
Fax No.: |
91-261-2301644 |
|
E-Mail : |
|
|
|
|
|
Mumbai Sales Office : |
406/407, Skyline Wealth Space C-2, 4th Floorm Skyline Oasis
Premier Road, Near Vidhyavihar Station, Ghatkopar West, Mumbai – 400086,
Maharashtra, India |
|
Tel. No.: |
91-22-25134314 / 20 |
|
Fax No.: |
91-22-25134323 |
|
|
|
|
Factory Unit 1 : |
Plot No.:6, S. No. 30/1, M.D. Industrial Estate, Basra Road, Village –
Masat, Silvassa (Ut of D N and H) |
|
Tel. No.: |
91-260-3098525 / 26 |
|
|
|
|
Factory Unit 2 : |
Plot No. 47, Block No.219, Village – Karal, Tal. Mandvi, Dist. Surat
(Gujarat), India |
|
Tel. No.: |
91-2621-291917 |
DIRECTORS
As on 26.11.2014
|
Name : |
Mr. Pankaj Jayantilal Mehta |
|
Designation : |
Director |
|
Address : |
C - 405, Krushal Tower, Amarmahal, G.M. Road, Chembur (West), Mumbai - 400089, Maharashtra, India |
|
Date of Birth/Age : |
04.02.1962 |
|
Date of Appointment : |
26.09.1997 |
|
DIN No.: |
00821644 |
|
|
|
|
Name : |
Mr. Lakhabhai Bhikhabhai Vagh |
|
Designation : |
Managing Director |
|
Address : |
104 Navkar Villa, Deepa Complex, Adajan Road, Surat - 395009, Gujarat, India |
|
Date of Birth/Age : |
25.01.1959 |
|
Date of Appointment : |
26.09.1997 |
|
DIN No.: |
00821674 |
|
|
|
|
Name : |
Mr. Rajee Jethsurbhai Vanjar |
|
Designation : |
Director |
|
Address : |
104, Navkar Villa, Deepa Complex, Adajan, Surat - 395009, Gujarat, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
26.09.1997 |
|
DIN No.: |
00821699 |
|
|
|
|
Name : |
Ms. Bharti Pankaj Mehta |
|
Designation : |
Director |
|
Address : |
C-405, Krushal Tower, Amarmahal,G.M.Road, Chembur-West, Mumbai - 400089, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1967 |
|
Date of Appointment : |
26.09.1997 |
|
DIN No.: |
00866999 |
KEY EXECUTIVES
|
Name : |
Mr. Virendra |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.11.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bharti Pankaj Mehta |
|
35000 |
|
Lakhabhai Bhikhabhai Vagh |
|
338532 |
|
Pankaj Jayantilal Vanjar |
|
832624 |
|
Rajce Jethsurbhai Vanjar |
|
54800 |
|
Bloomlate Finevest PL |
|
20040 |
|
Forum Shipping Agency |
|
30100 |
|
G V Sathe |
|
5000 |
|
Jai Hind Mercantile P L |
|
50000 |
|
Lalita Export Private Limited |
|
30040 |
|
N and J Mercantile P L |
|
50000 |
|
Plumetti Export Private Limited |
|
226040 |
|
Rashmi Gadge |
|
333 |
|
Solari Home Textile P Limited |
|
40000 |
|
Spring Fab and Tex P Limited |
|
60000 |
|
Saket Tesxtulisers P Limited |
|
46308 |
|
Top Gear Textiles p L |
|
50000 |
|
Total |
|
1868817 |
As on 28.03.2015
|
Names of Allotments |
|
No. of Shares |
|
Pankaj J. Mehta |
|
465454 |
|
Lakhabhai B. Vagh |
|
177512 |
|
B P Mehta |
|
17272 |
|
R J Vanjar |
|
16363 |
|
Forun Shipping Agency |
|
55090 |
|
Total |
|
731691 |
Equity Share Break up (Percentage of Total Equity)
As on 26.11.2014
|
Category |
Percentage |
|
Bodies corporate |
31.00 |
|
Directors or relatives of Directors |
31.00 |
|
Other top fifty shareholders |
38.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing and Selling of Yarn. |
|
|
|
|
Products : |
Texturizing and Twisting of Polyester Partially Oriented Yarn |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
||||||||||||||||||||||||||||
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|
|
|
Auditors : |
|
|
Name : |
R. Devendra Kumar and Associates Chartered Accountants |
|
Address : |
205, Blue Roase Industrial Estate, Near Petrol Pump, Western Express
Highway, Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Tel. No.: |
91-22-28543755 / 285443517 |
|
Fax No.: |
91-22-28543755 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFR2611M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
After 26.11.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2600508 |
Equity Shares |
Rs.10/- each |
Rs.26.005
Million |
|
|
|
|
|
As on 26.11.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1868817 |
Equity Shares |
Rs.10/- each |
Rs.18.688
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 |
18.688 |
18.688 |
18.688 |
|
(b) Reserves & Surplus |
83.238 |
79.824 |
87.566 |
|
(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) |
101.926 |
98.512 |
106.254 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
71.123 |
71.129 |
48.287 |
|
(b) Deferred tax liabilities
(Net) |
2.643 |
3.359 |
3.648 |
|
(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) |
73.766 |
74.488 |
51.935 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
194.336 |
172.914 |
132.181 |
|
(b) Trade payables |
127.060 |
5.782 |
18.941 |
|
(c) Other current liabilities |
8.794 |
0.222 |
0.365 |
|
(d) Short-term provisions |
5.994 |
2.219 |
2.734 |
|
Total
Current Liabilities (4) |
336.184 |
181.137 |
154.221 |
|
|
|
|
|
|
TOTAL |
511.876 |
354.137 |
312.410 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
73.468 |
82.667 |
91.174 |
|
(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 |
1.650 |
1.589 |
0.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
40.191 |
1.623 |
0.128 |
|
Total
Non-Current Assets |
115.309 |
85.879 |
91.303 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
116.052 |
71.341 |
68.452 |
|
(c) Trade receivables |
220.325 |
117.855 |
63.189 |
|
(d) Cash and cash equivalents |
25.003 |
44.204 |
29.582 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
35.187 |
34.858 |
59.884 |
|
Total
Current Assets |
396.567 |
268.258 |
221.107 |
|
|
|
|
|
|
TOTAL |
511.876 |
354.137 |
312.410 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
734.624 |
525.478 |
637.096 |
|
|
Other Income |
12.471 |
24.47 |
31.225 |
|
|
TOTAL
(A) |
747.095 |
549.948 |
668.321 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
660.502 |
462.198 |
594.669 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(16.431) |
(1.828) |
(9.719) |
|
|
Employees benefits expense |
11.317 |
10.345 |
8.337 |
|
|
Other expenses |
36.585 |
35.637 |
37.584 |
|
|
TOTAL
(B) |
691.973 |
506.352 |
630.871 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
55.122 |
43.596 |
37.450 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
40.732 |
30.978 |
19.029 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.390 |
12.618 |
18.421 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
12.802 |
12.555 |
13.792 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1.588 |
0.063 |
4.629 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.510 |
0.013 |
0.696 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
1.078 |
0.050 |
3.933 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3.954 |
3.159 |
12.673 |
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.58 |
0.02 |
2.1 |
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 |
34.873 |
51.390 |
|
Net cash flow from operating activity |
NA |
33.880 |
49.665 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.15 |
0.01 |
0.62 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.50 |
8.30 |
5.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.31 |
0.02 |
1.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.00 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.60 |
2.48 |
1.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.48 |
1.43 |
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 |
18.688 |
18.688 |
18.688 |
|
Reserves & Surplus |
87.566 |
79.824 |
83.238 |
|
Net
worth |
106.254 |
98.512 |
101.926 |
|
|
|
|
|
|
long-term borrowings |
48.287 |
71.129 |
71.123 |
|
Short term borrowings |
132.181 |
172.914 |
194.336 |
|
Total
borrowings |
180.468 |
244.043 |
265.459 |
|
Debt/Equity
ratio |
1.698 |
2.477 |
2.604 |
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 |
637.096 |
525.478 |
734.624 |
|
|
|
(17.520) |
39.801 |
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 |
637.096 |
525.478 |
734.624 |
|
Profit |
3.933 |
0.050 |
1.078 |
|
|
0.62% |
0.01% |
0.15% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 104 Navkar Villa, Deepa Complex, Adajan Road, Surat – 395004, Gujarat, India to the present address w.e.f. 01.04.2009
REVIEW OF
OPERATIONS
The Company has earned as stated above from its operation at Silvassa and
Karanj Plant. The profit for the year has been Rs 1.078 Million as against Rs.
0.050 Million during the previous financial year. The Director are continuously
looking for avenue for future growth of the company in textile industry.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10513075 |
31/07/2014 |
15,600,000.00 |
Reliance Capital Limited |
The Ruby, 11th Floor, North West Wing, Plot No. 29, J K Sawant Marg,
Mumbai, Maharashtra - 400028, |
C15148422 |
|
2 |
10362178 |
27/03/2015 * |
180,000,000.00 |
BANK OF INDIA |
MUMBAI MAIN BRANCH,, 70/80, M. G. ROAD, FORT,, MUMBAI, Maharashtra - 400023,
INDIA |
C50456664 |
|
3 |
10279772 |
27/03/2011 |
9,000,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai, Maharashtra - 4007 |
B10210193 |
|
4 |
10261108 |
06/01/2011 |
173,984,000.00 |
ING VYSYA BANK LIMITED |
Unit no 2/3/4,Marathon Max Building,Opposite, Nir |
B03690302 |
|
5 |
10253562 |
30/10/2010 |
7,716,000.00 |
ING VYSYA BANK LIMITED |
Unit no 2/3/4, Marathon Max Building, Opp. Nirmal |
B00747683 |
|
6 |
10253563 |
30/10/2010 |
2,512,000.00 |
ING VYSYA BANK LIMITED |
Unit no 2/3/4, Marathon Max Building, Opp. Nirmal |
B00750356 |
|
7 |
10253567 |
30/10/2010 |
18,800,000.00 |
ING VYSYA BANK LIMITED |
Unit no 2/3/4, Marathon Max Building, Opp. Nirmal |
B00752964 |
|
8 |
10256348 |
30/10/2010 |
133,000,000.00 |
ING VYSYA BANK LIMITED |
Unit no 2/3/4, Marathon Max Building, Opp. Nirmal |
B01643386 |
|
9 |
10256349 |
30/10/2010 |
10,464,000.00 |
ING VYSYA BANK LIMITED |
Unit no 2/3/4, Marathon Max Building, Opp. Nirmal |
B01646421 |
|
10 |
10256350 |
30/10/2010 |
1,492,000.00 |
ING VYSYA BANK LIMITED |
Unit no 2/3/4, Marathon Max Building, Opp. Nirmal |
B01647718 |
FIXED ASSETS
- Land and
Building
- Plant and
Machinery
- Electrification
- Furniture and
Fixture
- Office
Equipment
- 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.64.96 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.