MIRA INFORM REPORT
|
Report No. : |
340040 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN DRAPE PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
INDIAN FURNISHING AND DRAPE LIMITED |
|
|
|
|
Registered
Office : |
7, 14 and 15, Jafferbhoy Industrial Estate, Makwana Road, Marol Naka,
Behind Star TV Building, Andheri (East), Mumbai – 400 059, Maharashtra |
|
Tel. No.: |
91-22-28513173 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-099376 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.613 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110MH2005PTC099376 |
|
|
|
|
IEC No.: |
0305069403 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI06912D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI2478M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged
in manufacturing of furnishing products such as curtain drapes and upholstery
fabrics. |
|
|
|
|
No. of Employees
: |
50 (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 |
|
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|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject is an established company having moderate track. The company possesses a moderate financial profile marked by modest
networth base along with increased gearing and working capital intensive
operations owing to elongated debtor realisations during the year under
review. Management has witnessed an increase in its moderate revenue base as
well as net profitability during FY14. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of limited scale of its operations, the company can be
considered for business dealings with caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-Term Rating: BB |
|
Rating Explanation |
Have inadequate credit quality and carry high credit risk. |
|
Date |
07.05.2015 |
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. Nitesh |
|
Designation : |
Manager - Finance |
|
Contact No.: |
91-22-28513173 |
|
Date : |
05.09.2015 |
LOCATIONS
|
Registered Office : |
7, 14 and 15, Jafferbhoy Industrial Estate, Makwana Road, Marol Naka,
Behind Star TV Building, Andheri (East), Mumbai – 400 059, Maharashtra |
|
Tel. No.: |
91-22-28513173/ 28525967/ 32466180 |
|
Fax No.: |
91-22-28515542 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
Located at: ·
Bhiwandi,
Thane |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Yash Balkrishna Dave |
|
Designation : |
Director |
|
Address : |
N
6/16, Ganpati Niwas Society, Bangur Nagar, Goregaon (West), Mumbai – 400 090,
Maharashtra, India |
|
Date of Birth/Age : |
18.07.1974 |
|
Date of Appointment : |
07.02.2007 |
|
DIN No.: |
01267680 |
|
|
|
|
Name : |
Mr. Jayesh Balkrishna Dave |
|
Designation : |
Director |
|
Address : |
N
6/16, Ganpati Niwas Society, Bangur Nagar, Goregaon (West), Mumbai – 400 090,
Maharashtra, India |
|
Date of Birth/Age : |
05.08.1963 |
|
Date of Appointment : |
07.02.2007 |
|
DIN No.: |
01267713 |
|
|
|
|
Name : |
Mr.
Sudhir Mukund Lad |
|
Designation : |
Additional
Director |
|
Address : |
Gangasingh
Chawl Room No.8 Jawahar Nagar, Saibaba Road Khar (East), Mumbai – 400 051,
Maharashtra, India |
|
Date of Appointment : |
18.11.2013 |
|
DIN No.: |
05316451 |
KEY EXECUTIVES
|
Name : |
Mr. Nitesh |
|
Designation : |
Manager - Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dave Layesh Balkrishna |
|
61100 |
|
Dave Yash Balkrishna |
|
22605 |
|
Balkrishna D. Dave |
|
32000 |
|
Lalita Balkrishna Dave |
|
6500 |
|
Bhakti Jayesh Dave |
|
100 |
|
J.K. Dave HUF |
|
12600 |
|
B.K. Dave HUF |
|
12600 |
|
Chirag J. Shah |
|
5 |
|
Jignesh K. Shah |
|
5 |
|
K.M.
Enterprises, India |
|
5 |
|
Mita J. Shah |
|
5 |
|
Mohnish Tiwari |
|
5 |
|
Nandkishore and Sons HUF |
|
5 |
|
Surinder Tiwari |
|
5 |
|
Raj Kishore Mehra |
|
5 |
|
Bharat Jethalal Gala |
|
1500 |
|
Rahul V. Shah (HUF) |
|
1500 |
|
Pankaj Ravji Prasad (HUF) |
|
1500 |
|
Meena Hasmukh Dedhia |
|
1750 |
|
Kushal Khimji Haria |
|
1250 |
|
Bhavesh Hasmukhrai Parekh |
|
1250 |
|
Goraj Arjun Kalsaria |
|
1250 |
|
Sharad Nagesh Pednekar |
|
1250 |
|
Rigveda Properties Limited,
India |
|
6250 |
|
Utkantha Trading and
Properties Limited, India |
|
5000 |
|
Total |
|
170045 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
6.62 |
|
Directors
or relatives of directors |
|
86.74 |
|
Other
top fifty shareholders |
|
6.64 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in manufacturing of furnishing products such as curtain drapes and
upholstery fabrics. |
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Products : |
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Brand Names : |
“J&Y FABRICS” |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit (30/ 60/ 90 days) |
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Purchasing : |
Cash and Credit (30/ 60/ 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers, End Users and OEM’s
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
Bank of Baroda, Sakinaka Branch, Unit No.4 and 5, Town Centre,
Andheri-Kurla Road, Sakinaka, Andheri (East), Mumbai – 400
072, Maharashtra, India ·
Axis Bank Limited ·
ICICI Bank Limited |
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Facilities : |
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Auditors : |
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|
Name : |
Anand Jain and Associates Chartered Accountants |
|
Address : |
46, Mulji Jetha Building, Princess Street, Mumbai – 400 002,
Maharashtra, India |
|
Tel. No.: |
91-22-22001747 |
|
Fax No.: |
91-22-22001652 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFL8838P |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 million |
|
|
|
|
|
Issued
|
No. of Shares |
Type |
Value |
Amount |
|
170045 |
Equity Shares |
Rs.10/- each |
Rs.1.700
million |
|
|
|
|
|
Subscribed & Fully Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
133545 |
Equity Shares |
Rs.10/- each |
Rs.1.335
million |
|
|
|
|
|
Subscribed & Partly Paid up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22500 |
Equity Shares of Rs.8/- each partly paid-up |
Rs.8/- each |
Rs.0.180
million |
|
14000 |
Equity Shares of Rs.7/- each partly paid-up |
Rs.7/- each |
Rs.0.098
million |
|
|
|
|
Rs.0.278 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 |
1.613 |
1.613 |
1.515 |
|
(b) Reserves & Surplus |
81.627 |
67.009 |
57.393 |
|
(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) |
83.240 |
68.622 |
58.908 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
32.199 |
16.352 |
14.580 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
32.199 |
16.352 |
14.580 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
59.030 |
69.967 |
39.181 |
|
(b) Trade payables |
17.035 |
15.096 |
19.595 |
|
(c) Other current liabilities |
12.052 |
25.456 |
7.035 |
|
(d) Short-term provisions |
0.394 |
0.012 |
0.058 |
|
Total Current Liabilities (4) |
88.511 |
110.531 |
65.869 |
|
|
|
|
|
|
TOTAL |
203.950 |
195.505 |
139.357 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
32.653 |
34.168 |
24.767 |
|
(ii) Intangible Assets |
0.587 |
0.233 |
0.074 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
4.051 |
2.082 |
1.532 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
37.291 |
36.483 |
26.373 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
63.171 |
62.558 |
52.077 |
|
(c) Trade receivables |
72.892 |
72.126 |
52.009 |
|
(d) Cash and cash equivalents |
28.116 |
21.058 |
5.962 |
|
(e) Short-term loans and advances |
2.209 |
3.035 |
1.659 |
|
(f) Other current assets |
0.271 |
0.245 |
1.277 |
|
Total Current Assets |
166.659 |
159.022 |
112.984 |
|
|
|
|
|
|
TOTAL |
203.950 |
195.505 |
139.357 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
315.220 |
271.609 |
232.486 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
315.220 |
271.609 |
232.486 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
298.377 |
256.659 |
221.445 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.843 |
13.950 |
11.041 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
4.840 |
4.949 |
3.825 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
11.909 |
9.001 |
7.216 |
|
|
|
|
|
|
|
|
|
|
TAX |
3.907 |
2.789 |
2.258 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
8.003 |
6.212 |
4.958 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
22.221 |
16.009 |
11.051 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
30.224 |
22.221 |
16.009 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sale |
NA |
0.050 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
0.050 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
55.81 |
40.99 |
34.77 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
350.000 |
The above information has been parted by Mr. Nitesh (Manager-Finance).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities
of long-term borrowings |
|
|
|
|
LONG TERM
BORROWINGS |
|
|
|
|
SECURED |
|
|
|
|
Term loan from
Banks |
|
|
|
|
Bank of Baroda |
1.367 |
1.367 |
1.367 |
|
Term loan for
Vehicle from Banks |
|
|
|
|
Axis Bank |
0.000 |
0.060 |
0.075 |
|
Axis Bank |
1.160 |
1.053 |
0.000 |
|
ICICI Bank |
0.240 |
0.216 |
0.000 |
|
Term loan from
Vehicle from others |
|
|
|
|
Tata Capital Financial Services |
0.400 |
0.358 |
0.490 |
|
UNSECURED |
|
|
|
|
From Shareholders and Relatives |
5.000 |
9.866 |
0.444 |
|
Total |
8.167 |
12.920 |
2.376 |
|
|
|
|
|
|
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 |
|
Net Profit Margin (PAT/Total Income) |
(%) |
2.54 |
2.29 |
2.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.84 |
4.60 |
5.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.13 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.19 |
1.45 |
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
1.44 |
1.72 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Share Capital |
1.515 |
1.613 |
1.613 |
|
Reserves & Surplus |
57.393 |
67.009 |
81.627 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
58.908 |
68.622 |
83.240 |
|
|
|
|
|
|
Long-term borrowings |
14.580 |
16.352 |
32.199 |
|
Short term borrowings |
39.181 |
69.967 |
59.030 |
|
Current Maturities of Long
term borrowing |
2.376 |
12.920 |
8.167 |
|
Total borrowings |
56.137 |
99.239 |
99.396 |
|
Debt/Equity ratio |
0.953 |
1.446 |
1.194 |
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 |
232.486 |
271.609 |
315.220 |
|
|
|
16.828 |
16.057 |
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 |
232.486 |
271.609 |
315.220 |
|
Profit |
4.958 |
6.212 |
8.003 |
|
|
2.13% |
2.29% |
2.54% |
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 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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
From Shareholders and Relatives |
26.756 |
7.766 |
|
Total |
26.756 |
7.766 |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90354501 |
11/08/2014 * |
72,876,000.00 |
BANK OF BARODA |
SAKINAKA BRANCH, UNIT
NO.4 AND 5, TOWN CENTRE, ANDHERI-KURLA ROAD, SAKINAKA, ANDHERI (EAST),
MUMBAI, MAHARASHTRA - 400072, INDIA |
C21152848 |
* Date of charge modification
FIXED ASSETS:
·
Air Conditioner
·
Office Equipments
·
Plant and Machinery
·
Water Dispenser
·
Computer
·
Motor Car
·
Furniture and Fixture
·
Club Membership Rights
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 records 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.66.40 |
|
UK Pound |
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.