MIRA INFORM REPORT
|
Report No. : |
339348 |
|
Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PODDAR TYRES LIMITED |
|
|
|
|
Formerly Known
As : |
PODDAR TYRES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5D, Court Chambers, 35, New Marine Lines, Mumbai – 400020, Maharashtra |
|
Tel. No.: |
91-22-22006554 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.02.1981 |
|
|
|
|
Com. Reg. No.: |
11-023895 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.48.677 Million |
|
|
|
|
IEC No.: |
0388126981 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25100MH1981PLC023895 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
JLDP01485B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP6439M |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Cycles and Rickshaw Tyres and Tubes. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is established company having fine track record. Rating on Poddar Tyres Limited (PTL) reflect healthy financial risk profile,
marked by low gearing and healthy debt protection metrics and its established
position with a diversified product portfolio in the cycle tyres and tubes
segment. Rating further take consideration on long established track record
backed by vast experience of the company’s promoters. This rating strengths is partially offset by the company’s exposure to
intense industry competition. Trade relation are reported as fair. Business is active. Payment terms
are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Facilities=A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
October, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank Facilities=A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
October, 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
31-03-2013.
INFORMATION DENIED
Management Non-Cooperative (Tel No.:91-22-22006554)
LOCATIONS
|
Registered Office/ Head Office : |
5D, Court Chambers, 35, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
Tel. No.: |
91-22-22006554 |
|
Fax No.: |
91-22-22080745 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Administrative Office : |
6-B, Court Chambers, 35, New Marine Lines, Mumbai-400020, |
|
Tel. No.: |
91-22-22006554 / 3629 / 4812 / 8427 |
|
Fax No.: |
91-22-22080743 / 22080745 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Poddar Nagar, G T Road, Jugiana, Ludhiana-141420, Punjab, India |
|
Tel. No.: |
91-161-2511556 / 57 / 58 / 59 / 60 |
|
Fax No.: |
91-161-2511566 |
|
E-Mail : |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Arunkumar N Poddar |
|
Designation : |
Whole-Time Director |
|
Address : |
84, Mount Unique, 62-A, Peddar Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1954 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
13.02.1981 |
|
DIN No.: |
00761163 |
|
|
|
|
Name : |
Ms. Anuradha Kamal Kumar Poddar |
|
Designation : |
Whole-Time Director |
|
Address : |
87 Mount Unique Co-Operative Housing Society Limited, 11th Floor, 62-A Peddar Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1982 |
|
Qualification : |
Post Graduate (Management Studies) |
|
Date of Appointment : |
18.07.2013 |
|
DIN No.: |
00121801 |
|
|
|
|
Name : |
Mr. Rohit A Poddar |
|
Designation : |
Whole-Time Director |
|
Address : |
84, Mount Unique, 11th Floor, 62/A, Pedder Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
10.07.1986 |
|
Qualification : |
M. Tech (Mechanical Engineering) |
|
Date of Appointment : |
26.09.2008 |
|
PAN No.: |
ALFPP74449 |
|
DIN No.: |
02229034 |
|
|
|
|
Name : |
Mr. Vimlesh Chhotalal Shah |
|
Designation : |
Director |
|
Address : |
86, Mount Unique, 62/A Peddar Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1960 |
|
Date of Appointment : |
21.08.2012 |
|
DIN No.: |
06395486 |
|
|
|
|
Name : |
Pawankumar Shyamsundar Bagla |
|
Designation : |
Director |
|
Address : |
1b/1602 Whispering Palms, Lokhandwala Township,, Akurli Road, Kandivli (East), Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1958 |
|
Date of Appointment : |
21.08.2012 |
|
DIN No.: |
00049169 |
|
|
|
|
Name : |
Mr. Mahendra Shah |
|
Designation : |
Director |
|
Address : |
139 - A / 1, Heramb Sadan, Road No - 24, Swami Shreevallabhdas Marg, Sion(West), Mumbai - 400022, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1938 |
|
Date of Appointment : |
28.07.2014 |
|
DIN No.: |
02673743 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Santosh Kumar N Poddar |
|
17 |
|
Arun Kumar N Poddar |
|
184 |
|
Matushree Investment Private Limited, India |
|
8217 |
|
Shubhlabh Investment Private Limited, India |
|
809 |
|
Aruna A Poddar and Arunkumar Poddar |
|
13500 |
|
Arun Kumar Poddar HUF |
|
121107 |
|
Sitadevi N Poddar Joint Narayanprasad Poddar |
|
2 |
|
Aruna A Poddar Joint Arunkumar Poddar |
|
10 |
|
Rachana Poddar |
|
44512 |
|
Rohit A Poddar |
|
44512 |
|
Vimal Poddar |
|
38 |
|
Charula Poddar |
|
20 |
|
Gautam Poddar |
|
20 |
|
Ganurang Poddar |
|
20 |
|
Aruna Poddar |
|
12904 |
|
Rohit Impex Private Limited, India |
|
69159 |
|
Darupadidevi Poddar |
|
19062 |
|
Kamalkumar and Company HUF |
|
92590 |
|
Asha N Poddar Joint Narayanprasad Poddar |
|
40000 |
|
B K Poddar HUF |
|
5 |
|
Kamal Kumar Draupadidevi HUF |
|
5 |
|
Anupriya K Poddar |
|
20 |
|
Anuradha K Poddar |
|
50 |
|
Sitadevi Arun Kumar Poddar |
|
2 |
|
Anushree Poddar |
|
63 |
|
Anubhavi Poddar |
|
125 |
|
Shardadevi K Poddar |
|
19816 |
|
Total |
|
486769 |
As on 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
16.06 |
|
Directors or relatives of Directors |
83.94 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Cycles and Rickshaw Tyres and Tubes. |
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Products : |
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Brand Names : |
“BEDROCK BRAND” |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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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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Facilities : |
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Auditors : |
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|
Name : |
S K Loonker and Company Chartered Accountants |
|
Address : |
Building, 2nd Floor, Room. No. 5, Horniman Circle, Fort, Mumbai – 400023, Maharashtra, India |
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Tel. No.: |
91-22-22673313 |
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Fax No.: |
91-22-22662574 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABPL1875D |
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Memberships : |
-- |
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Collaborators : |
-- |
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|
|
Associate: |
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CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000 |
Equity Shares |
Rs.100/- each |
Rs.55.000 Million |
|
200000 |
Preference Shares |
Rs.100/- each |
Rs.20.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.75.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
486769 |
Equity Shares |
Rs.100/- each |
Rs.48.677
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 |
48.677 |
48.677 |
48.677 |
|
(b) Reserves & Surplus |
1419.351 |
1126.637 |
798.927 |
|
(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) |
1468.028 |
1175.314 |
847.604 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.075 |
|
(b) Deferred tax liabilities
(Net) |
25.884 |
19.821 |
17.790 |
|
(c) Other long term
liabilities |
1.911 |
2.911 |
2.886 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
27.795 |
22.732 |
20.751 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
221.624 |
253.690 |
370.824 |
|
(b) Trade payables |
264.083 |
120.350 |
142.617 |
|
(c) Other current liabilities |
198.192 |
174.615 |
183.010 |
|
(d) Short-term provisions |
6.020 |
6.525 |
323.996 |
|
Total
Current Liabilities (4) |
689.919 |
555.180 |
1020.447 |
|
|
|
|
|
|
TOTAL |
2185.742 |
1753.226 |
1888.802 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
210.852 |
219.438 |
207.566 |
|
(ii) Intangible Assets |
1.434 |
1.336 |
1.437 |
|
(iii) Capital work-in-progress |
24.666 |
3.663 |
1.807 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
668.218 |
324.017 |
313.924 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.022 |
2.276 |
1.427 |
|
(e) Other Non-current assets |
13.655 |
13.216 |
13.193 |
|
Total
Non-Current Assets |
920.847 |
563.946 |
539.354 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
155.260 |
108.498 |
221.613 |
|
(b) Inventories |
357.974 |
195.980 |
155.809 |
|
(c) Trade receivables |
577.032 |
593.504 |
485.630 |
|
(d) Cash and cash equivalents |
92.317 |
184.577 |
56.968 |
|
(e) Short-term loans and
advances |
57.198 |
83.912 |
416.906 |
|
(f) Other current assets |
25.114 |
22.809 |
12.522 |
|
Total
Current Assets |
1264.895 |
1189.280 |
1349.448 |
|
|
|
|
|
|
TOTAL |
2185.742 |
1753.226 |
1888.802 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3766.450 |
3592.063 |
3312.968 |
|
|
Other Income |
73.461 |
79.492 |
40.680 |
|
|
TOTAL
(A) |
3839.911 |
3671.555 |
3353.648 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1740.571 |
1834.107 |
1845.937 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
4.417 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
41.466 |
(30.163) |
30.883 |
|
|
Employees benefits expense |
283.478 |
255.564 |
204.176 |
|
|
Other expenses |
1287.351 |
1086.655 |
817.668 |
|
|
TOTAL
(B) |
3352.866 |
3146.163 |
2903.081 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
487.045 |
525.392 |
450.567 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.308 |
30.154 |
31.304 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
467.737 |
495.238 |
419.263 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
27.286 |
26.337 |
23.328 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
440.451 |
468.901 |
395.935 |
|
|
|
|
|
|
|
Less |
TAX (H) |
147.179 |
140.632 |
123.902 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX (G-H) (I) |
293.272 |
328.269 |
272.033 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
1072.255 |
743.986 |
486.864 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
13.612 |
|
|
Dividend on preference shares |
0.000 |
0.000 |
1.118 |
|
|
Tax on Dividend |
0.000 |
0.000 |
0.181 |
|
|
Total
(M) |
0.000 |
0.000 |
14.911 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
1365.527 |
1072.255 |
743.986 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Direct Export Earnings |
53.864 |
32.702 |
30.572 |
|
|
Indirect Export Earnings |
0.000 |
5.353 |
0.558 |
|
|
TOTAL
EARNINGS |
53.864 |
38.055 |
31.130 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
602.49 |
674.00 |
558.00 |
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 flow from operations |
435.218 |
151.308 |
303.974 |
|
Net cash flow from operating activity |
295.368 |
14.386 |
303.974 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.79 |
9.14 |
8.21 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.93 |
14.63 |
13.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.50 |
32.89 |
25.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.40 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15 |
0.22 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
2.14 |
1.32 |
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 |
48.677 |
48.677 |
48.677 |
|
Reserves & Surplus |
798.927 |
1126.637 |
1419.351 |
|
Net
worth |
847.604 |
1175.314 |
1468.028 |
|
long-term borrowings |
0.075 |
0.000 |
0.000 |
|
Short term borrowings |
370.824 |
253.690 |
221.624 |
|
Total
borrowings |
370.899 |
253.690 |
221.624 |
|
Debt/Equity
ratio |
0.438 |
0.216 |
0.151 |
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 |
3312.968 |
3592.063 |
3766.450 |
|
|
|
8.424 |
4.855 |
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 |
3312.968 |
3592.063 |
3766.450 |
|
Profit |
272.033 |
328.269 |
293.272 |
|
|
8.21% |
9.14% |
7.79% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
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 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 |
OPERATIONS
During the year, the Company had achieved Sales (after excise duty) of Rs.3766.400 Million as against Rs 3592.000 Million in the previous year. Thus, there was increase in Sales Turnover by 4.84% over the previous year. The Company was able to maintain a profit before tax of Rs.440.400 Million as against Rs.468.900 Million in previous year despite stiff competition in the market.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from others |
76.587 |
70.731 |
|
Loans repayable on demand from others |
4.639 |
0.000 |
|
|
|
|
|
Total |
81.226 |
70.731 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90215715 |
30/08/2014 * |
600,000,000.00 |
Canara Bank |
BHARAT NAGAR
CHOWK, LUDHIANA, LUDHIANA, Punjab - |
C31063837 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Other equipments
- Computer software
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.66.16 |
|
|
1 |
Rs.101.21 |
|
Euro |
1 |
Rs.74.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KSH |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
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 |
|
50 |
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.