MIRA INFORM REPORT

 

 

Report No. :

338903

Report Date :

04.09.2015

 

IDENTIFICATION DETAILS

 

Name :

IDEAL MOVERS PRIVATE LIMITED

 

IDEAL RESOURCES PRIVATE LIMITED AMALGAMATED WITH IDEAL MOVERS PRIVATE LIMITED

 

 

Registered Office :

50, J. L. Nehru Road, Kolkata - 700071, West Bengal

Tel. No.:

91-33-22821548/261-2874149

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.02.2000

 

 

Com. Reg. No.:

21-091199

 

 

Capital Investment / Paid-up Capital :

Rs. 44.000 Million

 

 

CIN No.:

[Company Identification No.]

U51109WB2000PTC091199

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is a provider of transportation services catering to reputed steel manufacturers, oil producers and project engineering companies with a focus on providing specialized logistics services to organizations in the core sector and it also provides cranes on rent to its customers.

 

 

No. of Employees :

150 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (32)

 

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 :

Subject is an established company having moderate track record.

 

As claimed by Mr. Pawan, Accounts department that IDEAL RESOURCES PRIVATE LIMITED has been amalgamated with IDEAL MOVERS PRIVATE LIMITED as on 1st April 2014.

 

For the financial year ended 2014, sales turnover of the company has declined which has resulted into sharp dip in profit of the company during a year under a review.

 

Rating further constrained on account of Company’s moderate financial risk profile marked by modest net worth along with huge borrowings and leverage balance sheet profile of the company.

 

However, trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealing with some caution.

 

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 Rating = BB+

Rating Explanation

Inadequate-credit-quality and high credit risk.

Date

16.01.2015

 

 

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 31-03-2013.

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Pawan

Designation :

Accounts Department

Contact No.:

91-33-22821548

Date :

03.09.2015

 

 

LOCATIONS

 

Registered Office :

50, J. L. Nehru Road, Kolkata - 700071, West Bengal, India

Tel. No.:

91-33-22821548/261-2874149

Mobile No.:

91-9830807411 (Mr. Pawan)

Fax No.:

91-33-22821564

E-Mail :

mail@ideal.in

Website :

www.ideal.in

Location :

Owned

Locality :

Commercial

 

 

Branch Office :

F-10, Ground Floor, Nand Niketan, Essar Township, Shopping Complex, Hazira - 394270, Gujarat, India 

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Srawan Kumar Himatsingka

Designation :

Director

Address :

20, Mandeville Gardens, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

02.05.1950

Date of Appointment :

23.02.2000

DIN No.:

00114412

 

 

Name :

Mr. Tirthraj Himatsingka

Designation :

Director

Address :

19b, Mandeville Gardens, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

30.11.1959

Date of Appointment :

23.02.2000

DIN No.:

00114434

 

 

Name :

Mr. Nakul Himatsingka

Designation :

Director

Address :

20, Mandeville Gardens, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

26.12.1976

Date of Appointment :

23.02.2000

DIN No.:

00114503

 

 

Name :

Mr. Raghav Himatsingka

Designation :

Director

Address :

19b Mandeville Gardens, 5th Floor, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

26.08.1985

Date of Appointment :

22.03.2010

DIN No.:

02701329

 

 

Name :

Mrs. Divya Himatsingka

Designation :

Director

Address :

20, Mandeville Gardens, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

04.09.1975

Date of Appointment :

01.04.2007

DIN No.:

00114525

 

 

KEY EXECUTIVES

 

Name :

Mr. Pawan

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Srawan Kumar Himatsingka

 

431200

Tirthraj Himatsingka

 

429880

Nakul Himatsingka

 

431200

Ideal Financing Corporation Limited, India

 

431200

Ideal Auto Credit Limited, India

 

330000

Rama Himatsingka

 

406120

Raghav Himatsingka

 

51370

Keshav Himatsingka

 

36630

Kanak Himatsingka

 

431200

Divya Himatsingka

 

431200

Ideal Real Estates Private Limited, India

 

431200

Ideal Resources Private Limited, India

 

431200

 

Equity Share Break up (Percentage of Total Equity)

 

As on30.09.2014

 

Category

Percentage of Holding

Bodies corporate

39.80

Directors or relatives of Directors

60.20

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is a provider of transportation services catering to reputed steel manufacturers, oil producers and project engineering companies with a focus on providing specialized logistics services to organizations in the core sector and it also provides cranes on rent to its customers.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, Advance Payment and Cheque

 

 

Purchasing :

Cash, Advance Payment and Cheque

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users and OEMs

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

150 (Approximately) 

 

 

Bankers :
  • Axis Bank Limited, RAC-Kolkata, Lords Building, 1st Floor, 7/1 Lord Sinha Road, Kolkata – 700071, West Bengal, India

 

Bank Name

Bank of India

Branch

Surat MID Corporate Branch, BOI Building, 1st Floor, Near BSNL Office, Ghoddod Road, Surat - 395001, Gujarat, India  

Person Name (With Designation)

Not Divulged

Contact Number

91-261-2240011/12

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

The number is continuously ringing

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loan from banks

1357.601

1936.560

 

 

 

SHORT TERM BORROWING

 

 

Working capital loan from banks

1117.545

882.553

Total

2475.146

2819.113

 

 

 

Financial Institution :
  • Reliance Consumer Finance Private Limited, 570, Rectifier House, Naigaum Cross Road, Next to Royal Industrial Estate, Wadala, Mumbai – 400031, Maharashtra, India
  • Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai – 400001, Maharashtra, India

 

 

Auditors :

 

Name :

SRBC and Company LLP

Chartered Accountants

Address :

Kolkata, Wes Bengal, India

PAN N Income-tax PAN of auditor or auditor's firm :

ACHFS9117R

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises owned by Key Management Personnel or their relatives :
  • Apex Commodities
  • Ideal Resources Private Limited
  • Ideal Financing Corporation Limited
  • Ideal Auto Credit Limited
  • Ideal Real Estate Private Limited
  • Ideal Dealers Private Limited
  • Exult Logistics Private Limited
  • Ideal Heights Private Limited
  • Ideal Gymnasium Private Limited
  • Himatsingka foods Private Limited
  • Ideal Riverview Projects Private Limited

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4,400,000

Equity Shares

Rs.10/- each

Rs. 44.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4,400,000

Equity Shares

Rs.10/- each

Rs. 44.000 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

44.000

40.000

30.000

(b) Reserves & Surplus

607.722

548.807

386.057

(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)

651.722

588.807

416.057

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

3859.791

4324.361

4162.808

(b) Deferred tax liabilities (Net)

150.628

149.191

135.114

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

10.874

8.295

5.452

Total Non-current Liabilities (3)

4021.293

4481.847

4303.374

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1587.613

1045.620

950.181

(b) Trade payables

203.614

192.674

244.012

(c) Other current liabilities

1219.153

995.135

890.891

(d) Short-term provisions

1.534

8.394

6.193

Total Current Liabilities (4)

3011.914

2241.823

2091.277

 

 

 

 

TOTAL

7684.929

7312.477

6810.708

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3368.034

3677.021

3757.118

(ii) Intangible Assets

2.963

3.862

4.044

(iii) Capital work-in-progress

9.846

54.603

51.534

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

4.817

4.816

4.816

(c) Deferred tax assets (net)

127.643

161.529

100.622

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

2.770

26.869

35.146

Total Non-Current Assets

3516.073

3928.700

3953.280

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

16.669

27.339

19.939

(c) Trade receivables

3745.257

3131.100

2264.709

(d) Cash and cash equivalents

54.653

27.864

52.088

(e) Short-term loans and advances

225.188

197.081

520.669

(f) Other current assets

127.089

0.393

0.023

Total Current Assets

4168.856

3383.777

2857.428

 

 

 

 

TOTAL

7684.929

7312.477

6810.708

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

GROSS INCOME

5877.229

6251.098

5074.703

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION 

NA

NA

1008.981

 

 

 

 

 

Less

FINANCIAL EXPENSES

NA

NA

529.559

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

568.694

602.714

479.422

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

564.191

558.914

453.303

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

4.503

43.800

26.119

 

 

 

 

 

Less

TAX

1.541

14.077

8.375

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2.962

29.723

17.744

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

64.065

44.287

33.543

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

0.000

2.972

1.770

 

Dividend

0.046

6.000

4.500

 

Tax on Dividend

0.000

0.973

0.730

 

Total

0.046

9.945

7.000

 

 

 

 

 

 

Balance Carried to the B/S

66.981

64.065

44.287

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 

 

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

5900.000

 

 

Expected Sales (2015-2016) : Rs.6200.000 Million

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

813.112

687.075

676.275

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

807.097

599.278

(31.308)

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.05

0.48

0.35

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

NA

NA

19.88

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.06

0.62

0.39

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.07

0.06

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

9.61

10.29

13.91

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.38

1.51

1.37

 

 

 

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

30.000

40.000

44.000

Reserves & Surplus

386.057

548.807

607.722

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

416.057

588.807

651.722

 

 

 

 

long-term borrowings

4162.808

4324.361

3859.791

Short term borrowings

950.181

1045.620

1587.613

Current maturities of long-term debts

676.275

687.075

813.112

Total borrowings

5789.264

6057.056

6260.516

Debt/Equity ratio

13.915

10.287

9.606

 

 

 

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)

Income (Gross)

5074.703

6251.098

5877.229

 

 

23.182

-5.981

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Income (Gross)

5074.703

6251.098

5877.229

Profit

17.744

29.723

2.962

 

0.35%

0.48%

0.05%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

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 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

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan and advances from related parties

2502.189

2387.801

 

 

 

SHORT TERM BORROWING

 

 

Other loans and advances

470.069

163.067

Total

2972.258

2550.868

 

 

 

NATURE OF OPERATIONS

 

Ideal Movers Private Limited is a provider of transportation services catering to reputed steel manufacturers, oil producers and project engineering companies with a focus on providing specialized logistics services to organizations in the core sector and it also provides cranes on rent to its customers.

 

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10586227

24/07/2015

9,150,470.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W 
, MUMBAI, Maharashtra - 400013, INDIA

C61814760

2

10580208

30/06/2015

42,546,555.00

TATA MOTORS FINANCE LIMITED

10th Floor, 106 A & B, Maker Chambers III,, Narim 
an Point,, Mumbai, Maharashtra - 400021, INDIA

C59045013

3

10580204

30/04/2015

38,459,870.00

TATA MOTORS FINANCE LIMITED

10th Floor, 106 A & B, Maker Chambers III,, Narim 
an Point,, Mumbai, Maharashtra - 400021, INDIA

C59043174

4

10568176

28/03/2015

125,000,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge C 
ity, Koparkhairne, Navi Mumbai, Maharashtra - 4007 
10, INDIA

C52810280

5

10557533

17/02/2015

215,000,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge C 
ity, Koparkhairne, Navi Mumbai, Maharashtra - 4007 
10, INDIA

C47979349

6

10568389

29/01/2015

33,035,300.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge C 
ity, Koparkhairne, Navi Mumbai, Maharashtra - 4007 
10, INDIA

C53145116

7

10553850

17/01/2015

220,000,000.00

Axis Bank Limited

"Trishul, Third Floor,Opp. Samartheshwar temple, 
Law Garden, Ellisbridge,, Ahmedabad, Gujarat - 380 
006, INDIA

C46020087

8

10529199

21/10/2014

50,000,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge C 
ity, Koparkhairne, Navi Mumbai, Maharashtra - 4007 
10, INDIA

C32312753

9

10526919

29/09/2014

100,000,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge C 
ity, Koparkhairne, Navi Mumbai, Maharashtra - 4007 
10, INDIA

C30471924

10

10514389

04/07/2014

1,400,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W 
, MUMBAI, Maharashtra - 400013, INDIA

C16019465

 

*Date of charge modification

 

 

FIXED ASSETS

·         Land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Motor vehicles

·         Office equipment

·         Computer equipments

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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

UK Pound

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

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

32

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.