MIRA INFORM REPORT
|
Report No. : |
339387 |
|
Report Date : |
03.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TLT ENGINEERING INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 788 Opposite, Torrent Laboratries Limited, Kalol Highway,
Indrad, Mehsana - 383341, Gujarat |
|
Tel No. : |
91-2764-233497 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.04.1987 |
|
|
|
|
Com. Reg. No.: |
04-009563 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29309GJ1987PTC009563 |
|
|
|
|
IEC No.: |
0398048399 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMT09732C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT2092G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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|
|
|
No. of Employees
: |
100 (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 |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Sales turnover of the company has shown stagnant improvement around 3%
over previous year. Further profitability of the company stood at 2.92% and
debt to equity ratio reported to be at 0.05 times. Ratio also reflects significant experience and track record of the
promoters in the manufacturing of industrial fans and accessories supported
by company’s sound financial base. Trade relations are fair. Business is active. Payments are reported to
be usually correct. 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 |
CARE |
|
Rating |
Long-term Bank Facilities = “BBB-“ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
December 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short –term Bank Facilities = “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
December 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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Bharat |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-2764-233498 |
|
Date : |
02.09.2015 |
LOCATIONS
|
Registered Office / Factory : |
Survey No. 788 Opposite, Torrent Laboratries, |
|
Tel. No.: |
91-2764-233498/7 |
|
Fax No.: |
91-2764-233503/1 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
Locality : |
Residential |
|
|
|
|
Head Office / Corporate Office : |
204, |
|
Tel. No.: |
91-22-24965031-36 |
|
Fax No.: |
91-22-24961073 |
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E-Mail : |
|
|
|
|
|
Branch Office : |
31B, Lake Place, Kolkata – 700 029, West Bengal, India |
|
Tel No. |
91-33-40734091 / 92 |
|
Fax No. |
91-33-24669418 |
|
E-mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Hasmukh C. Sheth |
|
Designation : |
Director |
|
Address : |
301 / 401 Om Vikas Tower, Behind Parsi Agiyari, Walkeshwar, Mumbai -
400006, Maharashtra, India. |
|
Date of Birth/Age : |
04.02.1939 |
|
Date of Appointment : |
01.05.2008 |
|
DIN No.: |
00010820 |
|
|
|
|
|
|
|
Name : |
Mr. Gautam Hasmukh Sheth |
|
Designation : |
Managing Director |
|
Address : |
301 / 401 Om Vikas Tower, Behind Parsi Agiyari, Walkeshwar, Mumbai - 400006,
Maharashtra, India. |
|
Date of Birth/Age : |
15.06.1968 |
|
Date of Appointment : |
01.05.2008 |
|
DIN No.: |
00011068 |
|
|
|
|
Name : |
Mr. Damji Champesy Chheda |
|
Designation : |
Director |
|
Address : |
D6 – 501 / 502, Malinath Apartment, Sarvodaya Nagar, Jain Mandir Marg,
Mulund (West), Mumbai – 400080, Maharashtra, India. |
|
Date of Birth/Age : |
02.03.1945 |
|
Date of Appointment : |
05.03.1998 |
|
DIN No.: |
00014267 |
|
|
|
|
Name : |
Mr. Mitesh Mahendra Sanghavi |
|
Designation : |
Director |
|
Address : |
Flat No. A-401, 4th Floor, Tirupati Apartment, Bhulabhai
Desai Road, Breach candy, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1966 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
00011261 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Mitesh Dhabliwala and Associates |
|
Designation : |
Company Secretary |
|
Address : |
111, 11th Floor Sai-Dwar CHS Limited, Sab TV Lane, Opposite
Laxmi Industrial Estate, Of Link road, Above Shabari Restaurant, Andheri
(West), Mumbai – 400053 |
|
Tel No.: |
91-26301232/26301233/26301240 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
Hasmukh C. Sheth |
102080 |
10.75 |
|
Peter Joseph Andrade |
237500 |
25.00 |
|
Gautam Hasmukh Sheth |
177920 |
18.73 |
|
Ushaben Hasmukh Sheth |
100000 |
10.53 |
|
Mitesh Mahendra Sanghavi |
47500 |
5.00 |
|
Sanghavi M. Sheetal |
95000 |
10.00 |
|
Gautam Hasmukh Sheth HUF |
95000 |
10.00 |
|
Gautam Hasmukh Sheth (Trustee - Gautam Sheth’s Family Trust) |
95000 |
10.00 |
|
|
|
|
|
Total |
950000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Fans |
|
Country : |
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Imports : |
Not Divulged |
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|
|
|
Terms : |
|
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Selling : |
Cash, Advance Payment and Cheque |
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|
|
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Purchasing : |
Cash, Advance Payment and Cheque |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
S.P. Jain and Associates Chartered Accountants |
|
Address : |
602, 6th Floor, Orbit Plaza, New Prabhadevi Road, Prabhadevi, Mumbai – 400025, Maharashtra, India |
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PAN
No. : |
AAVFS8167P |
|
|
|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates Concern : |
v Airoli Flaregas
Private Limited v HS Engineering
and Marketing Services v Dia-Maa Infra
Engineering LLP v Koerting Engineering
Private Limited v Hi-tech
Engineering Private Limited v Horizon Polymer
Engineering Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500 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 |
9.500 |
9.500 |
9.500 |
|
(b) Reserves & Surplus |
413.037 |
398.538 |
343.700 |
|
(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) |
422.537 |
408.038 |
353.200 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
14.990 |
27.533 |
0.000 |
|
(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 |
4.557 |
4.610 |
4.173 |
|
Total
Non-current Liabilities (3) |
19.547 |
32.143 |
4.173 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4.677 |
31.612 |
104.483 |
|
(b) Trade payables |
82.294 |
63.087 |
112.587 |
|
(c) Other current liabilities |
71.906 |
43.745 |
50.263 |
|
(d) Short-term provisions |
16.361 |
40.902 |
37.445 |
|
Total
Current Liabilities (4) |
175.238 |
179.346 |
304.778 |
|
|
|
|
|
|
TOTAL |
617.322 |
619.527 |
662.151 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
97.623 |
107.152 |
63.666 |
|
(ii) Intangible Assets |
1.882 |
2.696 |
0.000 |
|
(iii) Capital work-in-progress |
0.457 |
0.457 |
45.571 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.852 |
0.752 |
0.352 |
|
(c) Deferred tax assets (net) |
4.986 |
5.424 |
8.779 |
|
(d) Long-term Loan and Advances |
1.080 |
22.099 |
18.182 |
|
(e) Other Non-current assets |
5.822 |
11.890 |
34.326 |
|
Total
Non-Current Assets |
112.702 |
150.470 |
170.876 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
149.396 |
111.204 |
85.521 |
|
(c) Trade receivables |
160.752 |
181.446 |
265.557 |
|
(d) Cash and cash equivalents |
73.389 |
100.688 |
50.533 |
|
(e) Short-term loans and
advances |
98.156 |
56.020 |
73.298 |
|
(f) Other current assets |
22.927 |
19.699 |
16.366 |
|
Total
Current Assets |
504.620 |
469.057 |
491.275 |
|
|
|
|
|
|
TOTAL |
617.322 |
619.527 |
662.151 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
TURNOVER
(A) |
606.785 |
584.106 |
701.644 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
553.048 |
469.381 |
598.587 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
53.737 |
114.724 |
103.057 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.516 |
13.858 |
17.099 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.221 |
100.866 |
85.958 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
15.495 |
14.235 |
9.892 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
25.726 |
86.631 |
76.066 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
8.010 |
25.750 |
23.775 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
17.716 |
60.881 |
52.291 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
337.459 |
290.621 |
251.182 |
|
|
|
|
|
|
|
Add |
Earlier
year excess proposed dividend and dividend distribution tax (L) |
(0.438) |
(3.264) |
(0.092) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
2.500 |
8.000 |
10.000 |
|
|
Dividend |
2.375 |
2.375 |
2.375 |
|
|
Tax on Dividend |
0.404 |
0.404 |
0.385 |
|
|
Total
(M) |
5.279 |
10.779 |
12.760 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
349.458 |
337.459 |
290.621 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
2.643 |
2.459 |
0.184 |
|
|
|
|
|
|
|
|
CIF
VALUE OF IMPORT |
26.635 |
38.232 |
32.916 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
18.65 |
64.09 |
55.04 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
12.540 |
8.489 |
0.040 |
|
Cash generated from operations |
45.781 |
127.116 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.92 |
10.42 |
7.45 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
8.86 |
19.64 |
14.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.21 |
14.13 |
12.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.21 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.05 |
0.14 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.88 |
2.62 |
1.61 |
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 |
9.500 |
9.500 |
9.500 |
|
Reserves & Surplus |
343.700 |
398.538 |
413.037 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
353.200 |
408.038 |
422.537 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
27.533 |
14.990 |
|
Short term borrowings |
104.483 |
31.612 |
4.677 |
|
Current Maturities of
Long-Term Debts |
0.040 |
8.489 |
12.540 |
|
Total
borrowings |
104.523 |
67.634 |
32.207 |
|
Debt/Equity
ratio |
0.296 |
0.166 |
0.076 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
701.644 |
584.106 |
606.785 |
|
|
|
(16.752) |
3.883 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
701.644 |
584.106 |
606.785 |
|
Profit |
52.291 |
60.881 |
17.716 |
|
|
7.45% |
10.42% |
2.92% |
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 |
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 |
TURNOVER AND SALES AND FUTURE OUTLOOK
The company has achieved a turnover of Rs.
606.785 Million for the year is against Rs. 584.106 Million in the previous
year. The net profit before tax was Rs. 25.726 Million as against Rs. 86.631
Million in the previous year.
The performance in terms of sale during the
year was satisfactory.
Considering market condition prevailing,
performance in terms of sale during the year, was satisfactory. However performance
in terms of net profit was far from satisfactory. Inspite of marginal increase
in turnover, company has registered a sharp decline in net profit. The reason
for lower net profit is mainly attributed to the following reason.
In view of depressed economic situation
prevailing in the country for the last two years there were no new projects
announce in public as well as Private sector and expansion planned in the
existing capacities were also postponed by the clients. There were very few
clients who planned expansion in the capacity and hence there was tough
competition in the market. In view of low order position and competition they
had to accept order with very low margin.
This has affected their again profit margin
during financial year 2013-2014. In addition, there is increase in overheads
which has also affected the profit.
The country is passing through depressed
economic situation particularly in capital goods sector, since last two year
and them except this trend to continue in coming year also.
The new government is formed with a majority
and has initiated necessary changes in the economic policies to improve the
depressed economic situation. However w they expect benefit of new policies
will start accruing in the next financial year. i.e. FY 2015-2015.There is
great expectation by business community from new government, and overall
sentimates are positive.
In view of the above and considering present
order on hand they except lower turnover in current financial year which will
affect the profitability. However company has initiated allround measures to
reduce the cost which will help the company to tide over the situation.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10466141 |
26/11/2013 |
55,000,000.00 |
CANARA BANK |
Worli Branch, Marthanda, 84, Dr. Annie
Besant Road, Worli, Mumbai, Maharashtra - 400018, INDIA |
B91949636 |
|
2 |
10340447 |
26/11/2013 * |
575,000,000.00 |
CANARA BANK |
Worli Branch, Marthanda, 84, Dr. Annie
Besant Road, Worli, Mumbai, Maharashtra - 400018, INDIA |
B91951384 |
|
3 |
10263233 |
06/03/2013 * |
520,000,000.00 |
CANARA BANK |
Worli Branch, Marthanda, 84, Dr. Annie Besant
Road, Worli, Mumbai, Maharashtra - 400018, INDIA |
B74249186 |
|
4 |
90100007 |
19/03/2005 |
425,000.00 |
INDUSTRIAL CREDIT & INVESTMENT
CORPORATION OF INDI |
ICICI TOWERS; BANDRA KURLA COMPLEX, BANDRA
EAST, MUMBAI, Maharashtra - 400051, INDIA |
- |
|
5 |
90100897 |
07/05/2003 |
750,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36/38-A; NARIMAN BHAVAN; 227, NARIMAN
POINT, MUMBAI, Maharashtra - 400021, INDIA |
- |
|
6 |
90098768 |
22/01/1998 |
7,600,000.00 |
DENA BANK |
NEPEAN SEA ROAD BRANCH, MUMBAI, Maharashtra,
INDIA |
- |
|
7 |
90097708 |
15/04/1993 |
9,000,000.00 |
GUJRAT STATE FINANCIAL CORPORATION |
JAL DARSHAN BUILDING, ASHRAM ROAD,
AHMEDABAD, Gujarat - 380009, INDIA |
- |
|
8 |
90097616 |
19/04/2005 * |
2,500,000.00 |
DENA BANK |
NEPEAN SEA ROAD BRANCH, MUMBAI,
Maharashtra, INDIA |
- |
|
9 |
90097609 |
24/12/1992 * |
2,500,000.00 |
DENA BANK |
NEPEAN SEA ROAD BRANCH, MUMBAI, Maharashtra
- 400036, INDIA |
- |
* Date of charge modification
FIXED ASSETS
œ Freehold Land
œ Building
œ Machinery
œ Plant and Machinery
œ Furniture and Fixture
œ Vehicles
œ Office Equipment
œ Electrical Installation
œ Computers
œ Computers 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.101.22 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
YES |
|
--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.