MIRA INFORM REPORT
|
Report No. : |
339248 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAXGROW OVERSEAS LIMITED (w.e.f. 25.03.2015) |
|
|
|
|
Formerly Known
As : |
MAXGROW TRADE SOLUTIONS LIMITED (w.e.f. 30.10.2014) MAXGROW TRADE SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Natural Height Complex, C 1st Floor, Building No.5, Phase
I, VIP Road, Opposite Haldiram (Airport), Kolkata – 700 052, West Bengal |
|
Tel. No.: |
91-22-66067200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.08.2008 |
|
|
|
|
Com. Reg. No.: |
21-128225 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.111.105
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909WB2008PLC128225 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM6876Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject in engaged in trading of commodities primarily
edible oils, soap and metal scrap. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. For the financial year ended 2014, the company has reported healthy
operational performance and achieved adequate topline growth. Rating also takes into consideration companies above average financial
risk profile supported by improved capital structure and moderate debt
protection metrics of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of decent topline performance, the company can be considered
for business dealings at usual trade terms and condition. |
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+” (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
27.02.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A4+” (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
27.02.2015 |
Reason for Suspension: Absence of requisite information.
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 : |
Ms. Abhidnya |
|
Designation : |
Admin. Department |
|
Contact No.: |
91-22-66067200 |
LOCATIONS
|
Registered Office : |
Natural Height Complex, C 1st Floor, Building No.5, Phase
I, VIP Road, Opposite Haldiram (Airport), Kolkata – 700052, West Bengal,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Admin Office : |
14-A, Paper Box Estate, Mahakali Caves Road, Andheri (East), Mumbai –
400 093, Maharashtra, India |
|
Tel. No.: |
91-22-66067000/ 66067070/ 26879677/ 26879688 / 66067200 |
|
Fax No.: |
91-22-66067070 / 66067270 |
|
|
|
|
Godown : |
1 Wade Compound, Anjur Valllgaon Road, Mumbai Agra Road, Bhiwandi,
Thane – 421302, Maharashtra, India |
|
|
|
|
Head Office / Corporate Office: |
103, Hub Town, Solaris
Building, N.S. Phadke Marg, Near Regency Hotel, Andheri (East),
Mumbai, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rahul Kumar Saraf |
|
Designation : |
Director |
|
Address : |
Flat No.1205/1206, Building No.14-C, Sierra Tower, Lokhandwala
Township, Akruli Road, Kandivali Road, Kandivali (East), Mumbai – 400101,
Maharashtra, India |
|
Date of Birth/Age : |
07.08.1984 |
|
Date of Appointment : |
05.08.2008 |
|
PAN No.: |
AXWPS8240B |
|
DIN No.: |
01494992 |
|
|
|
|
Name : |
Ms. Shah Kiran Devi Saraf |
|
Designation : |
Director |
|
Address : |
503/A-Wing, Jaldarshan Chs Limited, G B Jukar Marg, Near Ruia Park, Juhu, Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1959 |
|
Date of Appointment : |
28.03.2015 |
|
DIN No.: |
06798140 |
|
|
|
|
Name : |
Mr. Rajendra Prasad Saraf |
|
Designation : |
Director |
|
Address : |
Flat No.1205/1206, Building No.14-C, Sierra Tower, Lokhandwala Township,
Akruli Road, Kandivali Road, Kandivali (East), Mumbai – 400101, Maharashtra,
India |
|
Date of Birth/Age : |
15.02.1954 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AUHPS2647C |
|
DIN No.: |
02729545 |
KEY EXECUTIVES
|
Name : |
Ms. Abhidnya |
|
Designation : |
Admin. Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Rahul Kumar Saraf |
1768000 |
15.91 |
|
Rajendra Prasad Saraf |
875000 |
7.88 |
|
Roshni Saraf |
3700000 |
33.30 |
|
Kiran Devi Saraf |
2592500 |
23.33 |
|
Bikash Saraf |
1810000 |
16.29 |
|
Dinesh Choudhary |
57500 |
0.52 |
|
Rahul Saraf (HUF) |
177500 |
1.60 |
|
Rajendra Saraf (HUF) |
130000 |
1.17 |
|
Total |
11110500 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
83.71 |
|
Other top fifty shareholders |
16.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject in engaged in trading of commodities primarily
edible oils, soap and metal scrap. |
|
|
|
|
Products : |
· Edible Oils · Soap ·
Metal Scrap |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
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|
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|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Middle East · South Africa |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Malaysia · Indonesia · UK · Europe |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Bank of Baroda, Nitin Niwas, M G Road, Vile Parle [East], Mumbai – 400 057, Maharashtra, India · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai – 400 021, Maharashtra, India · Citi Bank · IDBI Bank Limited · ICICI Bank Limited |
||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
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|
Name : |
B.N.Kedia and Company Chartered Accountants |
|
Address : |
623, Midas Sahar Plaza, Andheri Kurla Road,Nr J.B Nagar Metro Station, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFB4343G |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
|
Subsidiary Company: |
World Wide resources (HK) Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
Imexgo Private Limited |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 250.000
Million
Issued, Subscribed & Paid-up Capital : Rs.111.105
Million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11110500 |
Equity Shares |
Rs.10/- each |
Rs.111.105 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 |
111.105 |
96.000 |
89.000 |
|
(b) Reserves & Surplus |
93.752 |
59.288 |
38.914 |
|
(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) |
204.857 |
155.288 |
127.914 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
51.400 |
17.670 |
6.405 |
|
(b) Deferred tax liabilities (Net) |
0.507 |
0.280 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
15.380 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
51.907 |
17.950 |
21.785 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short-term borrowings |
353.051 |
222.484 |
184.482 |
|
(b)
Trade payables |
416.676 |
108.737 |
137.709 |
|
(c)
Other current liabilities |
2.129 |
43.488 |
16.757 |
|
(d)
Short-term provisions |
9.845 |
6.945 |
3.445 |
|
Total
Current Liabilities (4) |
781.701 |
381.654 |
342.393 |
|
|
|
|
|
|
TOTAL |
1038.465 |
554.892 |
492.092 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
14.711 |
12.821 |
26.650 |
|
(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 |
0.783 |
0.046 |
0.046 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.061 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
15.494 |
12.867 |
26.757 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
175.239 |
339.448 |
318.209 |
|
(c)
Trade receivables |
687.269 |
107.155 |
93.997 |
|
(d)
Cash and cash equivalents |
149.315 |
85.693 |
42.687 |
|
(e)
Short-term loans and advances |
10.732 |
7.877 |
10.442 |
|
(f)
Other current assets |
0.416 |
1.852 |
0.000 |
|
Total
Current Assets |
1022.971 |
542.025 |
465.335 |
|
|
|
|
|
|
TOTAL |
1038.465 |
554.892 |
492.092 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2904.926 |
|
1186.132 |
|
|
|
Other Income |
4.234 |
6.730 |
|
|
|
|
TOTAL (A) |
2909.160 |
2447.329 |
1186.132 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
2573.408 |
|
1167.329 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
164.209 |
(21.238) |
|
|
|
|
Employees benefits expense |
3.038 |
0.925 |
|
|
|
|
Other expenses |
87.980 |
92.471 |
|
|
|
|
TOTAL |
2828.635 |
2385.339 |
1167.329 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
80.525 |
61.990 |
18.803 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
49.621 |
40.439 |
9.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
30.904 |
21.551 |
9.726 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.492 |
1.322 |
0.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
29.412 |
20.229 |
9.424 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.053 |
6.855 |
2.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
19.359 |
13.374 |
6.484 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
15.632 |
0.000 |
NA |
|
|
TOTAL EARNINGS |
15.632 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1136.529 |
552.434 |
NA |
|
|
TOTAL IMPORTS |
1136.529 |
552.434 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.74 |
1.42 |
0.73 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
8090.000 (Due to increase
in business activity ) |
The above information has been parted by Ms. Abhidnya (Admin.
Department).
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 |
(104.986) |
(8.747) |
(126.821) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(130.944) |
(34.412) |
(136.964) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.67 |
0.55 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
2.77 |
2.54 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.83 |
3.65 |
1.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.13 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.97 |
1.55 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.42 |
1.36 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
89.000 |
96.000 |
111.105 |
|
Reserves & Surplus |
38.914 |
59.288 |
93.752 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
127.914 |
155.288 |
204.857 |
|
|
|
|
|
|
Long-term borrowings |
6.405 |
17.670 |
51.400 |
|
Short term borrowings |
184.482 |
222.484 |
353.051 |
|
Total
borrowings |
190.887 |
240.154 |
404.451 |
|
Debt/Equity
ratio |
1.492 |
1.547 |
1.974 |
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 |
1186.132 |
2447.329 |
2909.160 |
|
|
|
106.329 |
18.871 |
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 |
1186.132 |
2447.329 |
2909.160 |
|
Profit |
6.484 |
13.374 |
19.359 |
|
|
0.55% |
0.55% |
0.67% |
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 |
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) |
Yes |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10547234 |
21/01/2015 |
790,000,000.00 |
BANK OF INDIA |
ANDHERI (WEST) BRANCH, BANK OF INDIA BUILDING,, G |
C42556621 |
|
2 |
10460336 |
16/11/2013 |
165,000,000.00 |
BANK OF BARODA |
NITIN NIWAS, M G ROAD, VILEPARLE EAST, MUMBAI, MA |
B89595573 |
|
3 |
10273877 |
14/10/2014 * |
375,000,000.00 |
BANK OF INDIA |
ANDHERI (WEST) BRANCH, BANK OF INDIA BUILDING,, G |
C37449733 |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other loans and advances |
35.750 |
7.290 |
|
Total
|
35.750 |
7.290 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 6A, Raja
Sbodh Mulick Square, Suit No.207, Near Hind Cinema, Above Bank of Baroda,
Kolkata – 700013, West Bengal, India to the present address w.e.f. 22.08.2013.
PERFORMANCE OUTLINE
The company has reported a gross turnover of Rs.4817.000 Million, which is the highest turnover ever achieved by the Company since its incorporation compared to Rs.2447.300 Million in the immediately preceding previous year registering a growth of more than double turnover over the previous year.
The Company earned a net profit after tax of Rs.19.359 Million for the financial year ended 31st March, 2013 as compared to the profit after tax of Rs. 13.374 Million in the immediately preceding previous year.
FIXED ASSETS
Tangible Assets
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
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. 66.22 |
|
|
1 |
Rs. 101.22 |
|
Euro |
1 |
Rs. 74.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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.