MIRA
INFORM REPORT
|
Report No. : |
347440 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHEMICAL PROCESS PIPING PRIVATE LIMITED (w.e.f.24.06.1985) |
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Formerly Known
As : |
CPE PIPES PRIVATE LIMITED |
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Registered
Office : |
CPE Plots, BSD Marg, Govandi, Mumbai – 400088, |
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Tel. No.: |
91-22- 67230600 |
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Country : |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
25.10.2004 |
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Com. Reg. No.: |
11-149230 |
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Capital
Investment/ Paid-up Capital: |
Rs.9.900 Million |
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CIN No.: [Company Identification
No.] |
U25206MH2004PTC149230 |
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IEC No.: |
0305033832 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13766E |
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PAN No.: [Permanent Account No.] |
AACCC6212D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Installation of FRP/GRP, GRE and thermoplastic lined
FRP pipes and fittings. |
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No. of
Employees: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2004 engaged in manufacturing and installing fiber reinforced plastic/glass reinforce plastic and thermoplastic lined pipes. Its products include isophthalic, bisphenol, vinylester, het acid and epoxy. For the financial year ended 2014, company has reported 42.37% sales turnover growth as compared to previous sales turnover and it has maintained satisfactory profitability margins at 4.60% during the year under a review. Rating derives strength from the experienced and technically qualified management team as reflected by the established position in the Fibre reinforced plastic (FRP) pipes segment along with above average financial base} sound capital structure and debt coverage indicators. Rating strength partially offset by working capital intensive nature of operations and susceptibility of profitability margins to volatility in raw material prices and foreign exchange fluctuation. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.10.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.10.2014 |
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. Vijay Bag Singh Rajpurohit |
|
Designation : |
Managing director |
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Contact No.: |
91-9167720407 |
|
Date : |
28.10.2015 |
LOCATIONS
|
Registered Office : |
CPE Plots BSD Marg, Govandi, Mumbai – 400088, |
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Tel. No.: |
91-22- 67230600 |
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Fax No.: |
91-22- 67230618 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Commercial |
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Factory: |
Plot No.108/2 D, Khopoli Alibag Pen Road, Village: Tambati (Near
Tambati Power House), Taluka Khalapur, District : Raigad – 410203,
Maharashtra, India |
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|
|
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Vadodara Factory: |
Block No.126/128, Village: |
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Tel. No.: |
91-265-6564309 |
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Email: |
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Overseas Office : |
Located at: ·
Hoehr – Grenzhausen ·
Singapore ·
Thailand |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vijay Bagh Singh Rajpurohit |
|
Designation : |
Managing Director |
|
Address : |
Unit No.2, Building No.2, Jaswant Baug, |
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Date of Birth/Age : |
06.08.1965 |
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Qualification: |
Bachelor of Engineering (Environmental) |
|
Date of Appointment : |
11.07.2005 |
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Din No.: |
00967273 |
|
Name : |
Mr. Bagh Singh Rajpurohit |
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Designation : |
Whole-time director |
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Address : |
Flat No. 304, Plot No.F-5, Mangaldeep, Sector 14, Diwale,
CBD, Navi Mumbai - 400614, Maharashtra, India |
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Date of Birth/Age : |
01.09.1936 |
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Date of Appointment : |
31.12.2013 |
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Din No.: |
00793939 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Vijay Bagh Singh Rajpurohit |
651205 |
65.78 |
|
Aditya Rajpurohit |
338795 |
34.22 |
|
Total |
990000 |
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 and Installation of FRP/GRP, GRE and thermoplastic lined
FRP pipes and fittings. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Australia ·
Dubai ·
Germany ·
Spain ·
Indonesia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit (30,60,90 Days) |
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Purchasing : |
Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMS
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No. of Employees : |
600 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Gupta Verma and Associates Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFE9514A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Party : |
· Rajpurohit Profiles Private Limited, India [U74210MH1980PTC022736] · Incomm Technologies Private Limited, India [U72100MH1999PTC119833] · Rajpurohit Piping · Rajpurohit Cardtec Private Limited, India [U18219MH1995PTC176326] · Rajpurohit Infratech ·
Rajpurohit Projects Private Limited, India
[U45209MH2010PTC209626] |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
990000 |
Equity Shares |
Rs.10/- each |
Rs.9.900 Million |
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|
|
|
|
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 |
9.900 |
9.900 |
9.900 |
|
(b) Reserves & Surplus |
370.958 |
316.328 |
255.530 |
|
(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) |
380.858 |
326.228 |
265.430 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
141.842 |
155.775 |
95.032 |
|
(b) Deferred tax liabilities
(Net) |
3.478 |
2.906 |
2.440 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
6.482 |
7.293 |
7.221 |
|
Total
Non-current Liabilities (3) |
151.802 |
165.974 |
104.693 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
108.386 |
82.448 |
37.814 |
|
(b) Trade payables |
156.688 |
128.113 |
125.620 |
|
(c) Other current liabilities |
85.068 |
32.550 |
80.100 |
|
(d) Short-term provisions |
14.676 |
19.047 |
17.151 |
|
Total
Current Liabilities (4) |
364.818 |
262.158 |
260.685 |
|
|
|
|
|
|
TOTAL |
897.478 |
754.360 |
630.808 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
343.227 |
314.025 |
317.695 |
|
(ii) Intangible Assets |
0.046 |
0.057 |
0.057 |
|
(iii) Capital work-in-progress |
46.409 |
44.183 |
39.327 |
|
(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 |
2.458 |
2.141 |
2.072 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
392.140 |
360.406 |
359.151 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
209.513 |
147.122 |
108.867 |
|
(c) Trade receivables |
222.951 |
164.370 |
117.577 |
|
(d) Cash and cash equivalents |
33.477 |
31.308 |
25.608 |
|
(e) Short-term loans and
advances |
39.222 |
50.975 |
19.451 |
|
(f) Other current assets |
0.175 |
0.179 |
0.154 |
|
Total
Current Assets |
505.338 |
393.954 |
271.657 |
|
|
|
|
|
|
TOTAL |
897.478 |
754.360 |
630.808 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Total Revenue |
1172.918 |
863.679 |
689.859 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
127.511 |
128.999 |
100.052 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
44.121 |
40.722 |
40.620 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
83.390 |
88.277 |
59.432 |
|
|
|
|
|
|
|
Less |
TAX |
29.208 |
27.479 |
20.623 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
54.182 |
60.798 |
38.809 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
306.210 |
245.412 |
206.294 |
|
|
|
|
|
|
|
Add |
EXCESS
PROVISION OF INCOME TAX FOR EARLIER YEAR |
0.447 |
0.000 |
0.333 |
|
|
|
|
|
|
|
Less |
SHORT
PROVISION OF FBT FOR EARLIER YEARS |
0.000 |
0.000 |
0.024 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
360.839 |
306.210 |
245.412 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
369.118 |
274.103 |
327.303 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
54.73 |
61.41 |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1300.000 |
|
|
|
|
|
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) operations |
130.379 |
(13.955) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.80 |
12.43 |
10.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.27 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.66 |
0.73 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.50 |
1.04 |
1
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 |
9.900 |
9.900 |
9.900 |
|
Reserves & Surplus |
255.530 |
316.328 |
370.958 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
265.430 |
326.228 |
380.858 |
|
|
|
|
|
|
long-term borrowings |
95.032 |
155.775 |
141.842 |
|
Short term borrowings |
37.814 |
82.448 |
108.386 |
|
Total
borrowings |
132.846 |
238.223 |
250.228 |
|
Debt/Equity
ratio |
0.500 |
0.730 |
0.657 |
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) |
|
Total Revenue |
689.859 |
863.679 |
1172.918 |
|
|
|
25.196 |
35.805 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Revenue |
689.859 |
863.679 |
1172.918 |
|
Profit |
38.809 |
60.798 |
54.182 |
|
|
5.63% |
7.04% |
4.62% |
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 four 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 |
OPERATIONS:
During the year, the Company earned total Income of Rs.1172.918 Million as compared to Rs.863.679 Million for the year 2012-13.
After making provisions for Tax and other Adjustment, Net Profit after tax stands at Rs.54.182 Million.
Barring unforeseen circumstances, the Directors are hopeful of better prospects and performance of the Company in future.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10567701 |
24/03/2015 |
23,000,000.00 |
DEUTSCHE BANK AG |
P.O. BOX NO. 9080, GOREGAON(EAST),
MUMBAI, MAHARA |
C52239340 |
|
2 |
10567818 |
24/03/2015 |
23,000,000.00 |
DEUTSCHE BANK AG |
P.O. BOX NO. 9080,
GOREGAON(EAST), MUMBAI, MAHARA |
C52238748 |
|
3 |
10002479 |
29/09/2014 * |
600,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES - FORT BRANCH, 10/12 |
C29476355 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
Outstanding Letter of Credit |
29.617 |
34.186 |
|
Outstanding Bank Guarantee |
199.002 |
248.929 |
|
Outstanding LC Discounting |
77.857 |
0.000 |
|
Income Tax Demand for A.Y. 2010-11 |
6.136 |
6.136 |
|
Income Tax Demand for A.Y. 2011-12 |
7.793 |
0.000 |
|
NOTE: a) Amount due from whole-time directors in respect of advance against expenses NIL/- (Previous Year Rs. NIL/-) pending periodical settlements. The maximum amount outstanding at any time during the year is Rs.0.082 Million (Previous Year Rs.0.127 Million). b) Considering the nature of work and long duration involved in completion of full job/contract, recoveries from debtors are settled on completion of job/contract expiry of guarantee/warranty period. Sundry Debtors of Rs.3.940 Million (Previous Year Rs.3.778 Million) are overdue from parties concerned or recoverable on account of amount withheld as retention/liquidated damages and where the recovery is slow. The Company has taken suitable measures to recover the said dues and is hopeful of full recovery in due course of time and therefore, no provision has been considered necessary at this stage. c) Excise Duty liability arising on clearances made during the year of Rs.32.572 Million (Previous Year Rs.31.183 Million) has been adjusted to Excise CENVAT credits available in respect of raw materials purchased from time to time. d) Amount of exchange rate difference (net) credited to the Profit and Loss Account under the relevant heads is Rs.9.915 Million (Previous year Loss Rs.6.707 Million). e) i) Certain accounts of Sundry Debtors, Loans and Advances and Creditors are subject to confirmation / reconciliation and subsequent adjustments, if any, which in the opinion of the management would not be material. ii) In the opinion of the Board the Current Assets, Loans and Advances are approximately of the value stated, if realised in the ordinary course of business. The provision for depreciation and for all known liabilities are adequate and not in excess of the amount reasonably necessary. f) The Company is in the process of installing a full fledged costing system for various jobs in progress. However, as consistently followed, the stage of completion of various jobs at sites and factory premises; consumption of raw materials and cost of labour and overheads have been estimated and certified by the Management for the purpose of valuation of stock of work-in-progress and finished goods and relied upon by the auditors, being a technical matter. g) i) Sundry Creditors include Rs.6.732 Million (Previous Year Rs.5.134 Million) due to Small Scale Industrial Units. ii) Name of Parties where the amount is due for more than 30 days: · Amber Chemical · Bhumija Colourants Private Limited · F.E.Darukhanawalla and Company · Mechemco Industries · Mahavir Brush Manufacturer Company · Narchem Industries · Pooja Enterprise · Raj Pigment Product · Sangir Plastics Private Limited · Shree Bihari Industries · Ukay Industries · Urvish Associates · Vitona Elastomers iii) This disclosure is based on the information available with the company regarding the status of suppliers under the Industries (Development and Regulation) Act, 1951. iv) Overdue amounts as at 31st March, 2014 to Small Scale Industries and/or Ancillary Industrial supplier is Rs.5.846 Million (Previous Year Rs.4.119 Million). The same is disclosed on the basis of the information available with the Company regarding the status of suppliers under the Interest on Delayed Payments to Small Scale/Ancillary Industrial Undertaking Act, 1993. |
||
FIXED ASSETS:
·
Freehold Land
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixture
·
Electrical and Fittings
·
Office Equipments
·
Air Conditioner
·
Computers
·
Storage Equipments
·
Motor Vehicle
·
Office Site – Container
·
Software Account
·
Cranes Forklifts and Monorails
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.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.