MIRA INFORM REPORT

 

 

Report No. :

339537

Report Date :

03.09.2015

 

IDENTIFICATION DETAILS

 

Name :

KULODAY PLASTOMERS PRIVATE LIMITED

 

 

Registered Office :

121, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai – 400063, Maharashtra

Tel. No.:

91-22-42953071

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.07.1995

 

 

Com. Reg. No.:

11-090868

 

 

Capital Investment / Paid-up Capital :

Rs.31.500 Million

 

 

CIN No.:

[Company Identification No.]

U25202MH1995PTC090868

 

 

IEC No.:

0396052479

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMK13397G

 

 

PAN No.:

[Permanent Account No.]

AABCK6258R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Plastic Bags.

 

 

No. of Employees :

200 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 140000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Established in 1995, company is engaged in the manufacturing of various types of plastic bags it is established company and it is having satisfactory track record.

 

During FY14 (refers to the period April 01 to March 31) Kuloday Plastomers Private Limited reported total operating income of Rs.302.400 Million (vis-a-vis Rs.249.800 Million in FY13) and PAT of Rs.3.800 Million (vis-à-vis Rs.3.400 Million in FY13).

 

The rating reflects healthy operational and financial risk profile, capital structure} improved profitability margin and comfortable debt protection metrics.

 

The ratings are constrained by its susceptibility to volatility in the raw material prices and presence in highly competitive and fragmented industry.

 

However} trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct.

 

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.

 

 

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

CARE

Rating

Long term bank facilities: BB-

Rating Explanation

Inadequate credit quality and high credit risk.

Date

March 2015

 

Rating Agency Name

CARE

Rating

Short term bank facilities: A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

March 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

 

Name :

Mr. Ketan

Designation :

Assistant General Manager

Contact No.:

91-22-42953071

Date :

02.09.2015

 

 

LOCATIONS

 

Registered Office / Head Office :

121, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai – 400063, Maharashtra, India

Tel. No.:

91-22-42953071

Fax No.:

91-22-28366590

E-Mail :

finance@kpplindia.com

Website :

www.kpplindia.com

Location:

Owned

Locality:

Commercial

 

 

Factory :

644/29,Agarwal Industrial Estate, Somnath Road, Dhabel Village, Daman (UT) – 396 210, Gujarat, India 

Tel. No.:

91-260-2243005

Fax No.:

91-260-2241005

Location :

Owned

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Amolkumar Subodhkumar Chokhani

Designation :

Director

Address :

Flat No 701-7th Floor Ganga Building, 16, Rani Sati Marg, Malad (East), Mumbai - 400097, Maharashtra, India

Date of Birth/Age :

29.09.1968

Date of Appointment :

01.08.2005

DIN No.:

01781686

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25202MH1995PTC090868

KULODAY PLASTOMERS PRIVATE LIMITED

Director

1/8/2005

1/8/2005

-

Active

NO

2

U60210MH1991PLC061526

ADHUNIK TRANSPORT ORGANISATION LIMITED

Director

30/09/2011

15/12/2010

29/10/2014

Active

NO

3

U25203MH2012PTC237355

Srish Corporation Private Limited

Director

31/10/2012

31/10/2012

-

Active

NO

 

 

Name :

Mrs. Meenadevi Subodhkumar Chokhani

Designation :

Director

Address :

Flat No 701-7th Floor Ganga Building, 16, Rani Sati Marg, Malad (East), Mumbai - 400097, Maharashtra, India

Date of Birth/Age :

19.11.1984

Date of Appointment :

21.07.1995

DIN No.:

02821994

 

 

KEY EXECUTIVES

 

Name :

Mr. Ketan

Designation :

Assistant General Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

S.P. Chokhani HUF

60000

1.90

Meenadevi Subodhkumar Chokhani

138450

4.40

Amolkumar Subodhkumar Chokhani

2857500

90.71

Reena A Chokhani

94050

2.99

TOTAL

3150000

100.00

 

 

AS ON 27.05.2015

 

Names of Allottees

No. of Shares

Amolkumar Subodhkumar Chokhani

400050

Reena A Chokhani

13167

Meenadevi Subodhkumar Chokhani

19383

S.P. Chokhani HUF

8400

TOTAL

441000

 

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 of Plastic Bags.

 

 

Products :

·         T-Shirt Bags

·         Garbage Bags/ Refuse Sacks

·         Bin Liners

·         Rubble Sack

·         Shopping Bags

·         Industrial Liners

·         LDPE Sheets

·         HDPE Woven Sack Tarpaulin

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Plastic Bag

Countries :

USA

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Dubai
  • China

 

 

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 :

Wholesalers, Retailers and End Users

 

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 :

200  (Approximately)

 

 

Bankers :

Banker Name

Bank of India

Branch Address

Malad (West) Branch, Opposite Nataraj Market, S V Road , Malad (West), Mumbai - 400064, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

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)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loans

 

 

Indian Rupee loan from Banks

26.912

14.296

Foreign currency loan from Banks

0.000

22.004

SHORT TERM BORROWING

 

 

Repayable on Demand

 

 

Bank of India - Cash Credit 3130110000044

20.783

11.126

Bank of India – Foreign Bill Negotiated 003185210000023

5.014

0.000

Bank of India – Export Packing Credit 003182610000032

29.867

44.949

HDFC Bank - Current Account - 03982020000268

3.863

0.3000

Bank of India - Buyers Credit

10.882

0.000

Total

97.321

92.675

 

NOTE:

 

Term loan from Bank of India is secured by hypothecation of machinery & Loan From ICICI Bank is secured against Hypothecation of Motor Car.

 

All the above facilities are from Bank of India and is secured against hypothecation of Stock & Book Debts. The cash credit is repayable on demand and carries interest @ 15% p.a.

 

 

 

Auditors :

 

Name :

Banka and Banka

Chartered Accountants

Address :

3rd Floor, Shah Trade Centre, Rani Sati Marg, Off Western Express Highway, Malad (East), Mumbai-400097, Maharashtra, India

Tel. No.:

91-22-40984545

E-Mail :

info@bankabanka.com

bankabanka@rediffmail.com

Website:

http://www.bankabanka.com

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

AAAFB1145R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Relate Party :
  • Adhunik Transport Organisation Limited

 

CAPITAL STRUCTURE

 

AFTER 30.09.2014

 

Authorised Capital : Rs. 49.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 48.510 Million

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4900000

Equity Shares

Rs.10/- each

Rs. 49.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3150000

Equity Shares

Rs.10/- each

Rs. 31.500 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

31.500

15.000

15.000

(b) Reserves & Surplus

17.760

16.878

13.458

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

 

0.000

Total Shareholders’ Funds (1) + (2)

49.260

31.878

28.458

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

39.156

79.597

31.777

(b) Deferred tax liabilities (Net)

6.063

4.166

3.013

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

45.219

83.763

34.790

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

70.409

56.375

48.657

(b) Trade payables

82.190

44.335

33.662

(c) Other current liabilities

3.465

1.580

0.839

(d) Short-term provisions

1.244

1.026

0.867

Total Current Liabilities (4)

157.308

103.316

84.025

 

 

 

 

TOTAL

251.787

218.957

147.273

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

84.785

45.747

31.048

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.453

0.453

0.292

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1.473

1.767

1.800

(e) Other Non-current assets

11.941

12.595

6.564

Total Non-Current Assets

98.652

60.562

39.704

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

90.636

90.613

68.907

(c) Trade receivables

43.389

38.209

28.797

(d) Cash and cash equivalents

0.104

16.332

0.572

(e) Short-term loans and advances

19.006

13.241

9.293

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

153.135

158.395

107.569

 

 

 

 

TOTAL

251.787

218.957

147.273

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

302.494

249.822

205.143

 

Other Income

 

 

 

 

TOTAL

302.494

249.822

205.143

 

 

 

 

 

 

EXPENSES

278.828

231.038

191.043

 

 

 

 

 

 

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

23.666

18.784

14.100

 

 

 

 

 

 

FINANCIAL EXPENSES

14.440

11.416

7.743

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

9.226

7.368

6.357

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

3.296

2.258

1.787

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

5.930

5.110

4.570

 

 

 

 

 

 

TAX

1.244

1.026

1.429

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

3.882

3.420

3.141

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export Earnings

144.861

124.049

158.490

 

TOTAL EARNINGS

144.861

124.049

158.490

 

 

 

 

 

 

CIF VALUE OF IMPORTS

97.668

127.839

109.834

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.23

2.28

2.09

 

 

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

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

2.36

2.34

3.11

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.16

0.16

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.22

4.27

2.83

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.97

1.53

1.28

 

 

 

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

15.000

15.000

31.500

Reserves & Surplus

13.458

16.878

17.760

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

28.458

31.878

49.260

 

 

 

 

long-term borrowings

31.777

79.597

39.156

Short term borrowings

48.657

56.375

70.409

Total borrowings

80.434

135.972

109.565

Debt/Equity ratio

2.826

4.265

2.224

 

 

 

 

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 Income

205.143

249.822

302.494

 

 

21.779

21.084

 

 

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 Income

205.143

249.822

302.494

Profit

3.141

3.420

3.882

 

1.53%

1.37%

1.28%

 

 

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

No

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

 

 

NOTE: Registered office of the company has been shifted from 9, Aghadi Industrial Estate, 1st Floor, Subhash Road, Jogeshwari (East), Mumbai – 400 067, Maharashtra, India to the present address w.e.f. 13.02.2014

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Indian Rupee loan from financial Institutions

1.803

2.713

Deposits

 

 

Deposits from shareholders

5.018

15.384

Deposits from relatives of Directors and Shareholders

5.423

25.200

Total

12.244

43.297

Note:

 

The unsecured Loans are from diectors and relatives of the directors except the loan from M/s. Bajaj Finserv of Rs. 1.803 Million.

 

There is no specific date of repayment of the unsecured loans from Shareholders, Directors and their relatives. The Company can repay the

 

Unsecured Loan from Bajaj Finserv is Payable in 36 Equated Installments starting from 05.12.2012.same as and when it has surplus fund or there is no need of additional funds.

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10372240

30/07/2012

70,000,000.00

BANK OF INDIA

MALAD (WEST) BRANCH, OPP. NATARAJ MARKET ,, S V R
OAD , MALAD (WEST), MUMBAI, MAHARASHTRA - 400064,
INDIA

B56283831

2

10208953

22/02/2010

7,500,000.00

BANK OF INDIA

MALAD (WEST) BRANCH, OPP. NATARAJ MARKET ,, S V R
OAD , MALAD (WEST), MUMBAI, MAHARASHTRA - 400064,
INDIA

A81874521

3

10141322

13/01/2009

5,250,000.00

BANK OF INDIA

MALAD (WEST) BRANCH, OPP. NATARAJ MARKET ,, S V R
OAD , MALAD (WEST), MUMBAI, MAHARASHTRA - 400064,
INDIA

A56125859

4

10095872

22/10/2012 *

174,200,000.00

BANK OF INDIA

MALAD (WEST) BRANCH, OPP. NATARAJ MARKET,, SWAMI
VIVEKANAND ROAD,MALAD (WEST), MUMBAI, MAHARASHTRA
- 400064, INDIA

B61706909

5

10095874

15/04/2015 *

105,000,000.00

BANK OF INDIA

MALAD (WEST) BRANCH, OPP. NATARAJ MARKET,, SWAMI
VIVEKANAND ROAD,MALAD (WEST), MUMBAI, MAHARASHTRA
- 400064, INDIA

C53133757

6

10035009

08/01/2007

3,000,000.00

BANK OF INDIA

MALAD (EAST) BRANCH, OFF.RANI SATI MARG ,, MALAD
(EAST) ,, MUMBAI, MAHARASHTRA - 400097, INDIA

A09857541

7

10034339

08/01/2007

3,000,000.00

BANK OF INDIA

MALAD (EAST) BRANCH, OFF.RANI SATI MARG ,, MALAD
(EAST) ,, MUMBAI, MAHARASHTRA - 400097, INDIA

A09871864

8

90155182

24/05/1999 *

3,234,500.00

BANK OF INDIA

MALAND EAST) BRANCH, MUMBAI, MAHARASHTRA - 400097,
INDIA

-

9

90154981

23/02/1998 *

3,234,500.00

BANK OF INDIA

MALAD EAST) BRANCH, MUMBAI, MAHARASHTRA - 400097,
INDIA

-

10

90159485

14/11/2006 *

5,000,000.00

BANK OF INDIA

MALAD (EAST) BRANCH, OFF.RANI SATI MARG ,, MALAD
(EAST), MUMBAI, MAHARASHTRA - 400097, INDIA

A08771735

 

* Date of charge modification

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Electrification

·         Mobile Phone

·         Motor Car

·         Computers

·         Furniture

·         Motor Bike

·         Camera

 

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 :

KAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

0

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--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

 

44

 

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.