MIRA INFORM REPORT
|
Report No. : |
340756 |
|
Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRITIKA AUTOCAST LIMITED (w.e.f. 12.06.2014) |
|
|
|
|
Formerly Known
As : |
PRITIKA AUTOCAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village - Batheri, Tehsil Haroli, Rahliwala - Garhshankar Road, District
Una - 174301, Himachal Pradesh |
|
Tel. No.: |
91-1975-206645 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.11.2005 |
|
|
|
|
Com. Reg. No.: |
06-029149 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 80.176 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L34300HP2005PLC029149 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLP13029C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP8486H |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
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Line of Business
: |
Manufacturer of Automotive and Tractor Components. |
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|
|
|
No. of Employees
: |
550 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 480000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2005 as a private limited company
and recently it got converted into limited company as on 12th
June, 2014. It belongs to Pritika group of companies and has satisfactory
track. The equity shares of Pritika Autocast (Scrip Code: 780020) are listed
on BSE, effective on 29 April 2015 and admitted to dealings on the Exchange
in the list of ‘IP’ Group Securities with the Book Value of Rs. 17.49 and
Face Value of Rs. 10 and which is not traded till date. As per the available financials of the year 2014, company possesses
healthy financial risk profile marked by decent increase in its revenue base
along with fair profit margin. Further networth of the company is adequate
with slightly high borrowings. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. In view of long industrial experience along with decent financial
condition, the company can be considered for business dealings with 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 |
CRISIL |
|
Rating |
Long term rating = BB |
|
Rating Explanation |
Inadequate credit quality and high credit
risk |
|
Date |
23.06.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
23.06.2015 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh Chander Saini |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-172-5008900 |
|
Date : |
11.09.2015 |
LOCATIONS
|
Registered Office/Factory : |
Village - Batheri, Tehsil Haroli, Rahliwala - Garhshankar Road, District
Una - 174301, Himachal Pradesh |
|
Tel. No.: |
91-1975-206645 |
|
Mobile No.: |
91-9815423399 (Mr. Ramesh Chander Saini) |
|
Fax No.: |
91-1975-206645 |
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E-Mail : |
info@pritikagroup.com rcsaini@pritikagroup.com |
|
Website : |
http://www.pritikagroup.com |
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Location : |
Owned |
|
Locality: |
Industrial |
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|
|
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Corporate Office : |
C-94, Indlarea, Phase-VII, S.A.S. nagar, Mohali - 160055, Punjab,
India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Harpreet Singh Nibber |
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Designation : |
Managing director |
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Address : |
House No. 1021, Phase-4, Sas Nagar, Mohali - 160059, Punjab, India |
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Date of Birth/Age : |
13.10.1971 |
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Date of Appointment : |
01.06.2014 |
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DIN No.: |
00239042 |
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Other Directorship:
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Name : |
Mr. Raminder Singh Nibber |
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Designation : |
Director |
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Address : |
House No. 1021, Phase-4, Sas Nagar, Mohali - 160059, Punjab, India |
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Date of Birth/Age : |
04.08.1941 |
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Date of Appointment : |
31.05.2014 |
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DIN No.: |
00239117 |
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Other Directorship:
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Name : |
Mr. Parvinder Singh Sahni |
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Designation : |
Director |
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Address : |
908, Phase Iii B2, Mohali, Mohali, 160059, Chandigarh, India |
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Date of Birth/Age : |
02.08.1962 |
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Date of Appointment : |
29.09.2014 |
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DIN No.: |
00606931 |
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Other Directorship:
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Name : |
Mr. Vijay Laxmi |
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Designation : |
Additional director |
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Address : |
A- 601, East Avenue Apartments, Ahinda Khand - II, Indirapuram, Ghaziabad - 201014, Uttar Pradesh, India |
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Date of Appointment : |
06.08.2015 |
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DIN No.: |
07256378 |
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KEY EXECUTIVES
|
Name : |
Mr. Chander Bhan Gupta |
|
Designation : |
Secretary |
|
Address : |
28, Shiv Enclave, Baltana, 140604, Punjab, INDIA |
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Date of Birth: |
21.03.1962 |
|
Date of Appointment : |
01.07.2014 |
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PAN No.: |
ABKPG0239J |
|
Name : |
Mr. Ramesh Chander Saini |
|
Designation : |
Chief Finance Officer |
|
Address : |
House No. 336/2, Sector-45 A, Chandigarh - 160047, India |
|
Date of Appointment : |
01.07.2014 |
|
PAN No.: |
ACJPS6701K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Raminder Nibber Singh |
|
1203420 |
|
Harpreet Nibber Singh |
|
2485000 |
|
Pritika Industries Limited, India |
|
8122500 |
|
Pavit Nibber |
|
105625 |
|
Ramesh Chander Saini |
|
2250 |
|
Ajay Kumar |
|
2250 |
|
Gurkaran Singh Nibber |
|
104500 |
|
Gurpreet Singh |
|
300 |
|
Gaganpreet Singh |
|
300 |
|
Sudesh Saini |
|
100 |
|
Neelam Raj |
|
100 |
|
Harinder Pal Singh Billa |
|
100 |
|
Avtar Singh |
|
10 |
|
Ashish Kumar |
|
10 |
|
Jasleen Narang |
|
10 |
|
|
|
|
|
Total |
|
12026475 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
67.54 |
|
Directors or relatives of Directors |
32.41 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive and Tractor Components. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
550 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Vikesh Chetal and Associates Chartered Accountants |
|
Address : |
129, Phase 1 B Shiwalik Avenue, Nayanangal , Tehsil - Nangal, District - Ropar, Punjab, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACTPC3663N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
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Holding company: |
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CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs. 140.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12026475 |
Equity Shares |
Rs.10/- each |
Rs. 120.264
Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8017650 |
Equity Shares |
Rs.10/- each |
Rs. 80.176
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 |
80.176 |
53.451 |
53.411 |
|
(b) Reserves & Surplus |
90.127 |
90.697 |
74.184 |
|
(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) |
170.303 |
144.148 |
127.595 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
151.437 |
219.186 |
159.729 |
|
(b) Deferred tax liabilities (Net) |
18.518 |
18.682 |
17.997 |
|
(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) |
169.955 |
237.868 |
177.726 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
219.622 |
181.141 |
122.065 |
|
(b) Trade
payables |
104.873 |
64.681 |
13.426 |
|
(c) Other
current liabilities |
177.592 |
136.187 |
100.682 |
|
(d) Short-term
provisions |
13.430 |
12.039 |
11.656 |
|
Total Current
Liabilities (4) |
515.517 |
394.048 |
247.829 |
|
|
|
|
|
|
TOTAL |
855.775 |
776.064 |
553.150 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
263.791 |
271.079 |
251.304 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
37.761 |
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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
1.307 |
1.327 |
1.191 |
|
Total Non-Current
Assets |
265.098 |
310.167 |
252.495 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
261.701 |
167.097 |
101.306 |
|
(c) Trade
receivables |
233.222 |
192.389 |
84.512 |
|
(d) Cash
and cash equivalents |
22.633 |
23.521 |
10.484 |
|
(e)
Short-term loans and advances |
45.589 |
59.826 |
99.389 |
|
(f) Other
current assets |
27.532 |
23.064 |
4.964 |
|
Total
Current Assets |
590.677 |
465.897 |
300.655 |
|
|
|
|
|
|
TOTAL |
855.775 |
776.064 |
553.150 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
964.261 |
779.730 |
|
|
|
Other Income |
1.319 |
0.694 |
|
|
|
TOTAL
|
965.580 |
780.424 |
660.292 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
621.724 |
502.620 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(60.730) |
(58.416) |
|
|
|
Employees benefits expense |
41.993 |
31.489 |
|
|
|
Other expenses |
227.836 |
183.058 |
|
|
|
TOTAL
|
830.823 |
658.751 |
550.574 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
134.757 |
121.673 |
109.718 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
61.845 |
54.911 |
46.231 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
72.912 |
66.762 |
63.487 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
32.900 |
31.900 |
24.984 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
40.012 |
34.862 |
38.503 |
|
|
|
|
|
|
|
Less |
TAX |
4.477 |
9.033 |
-23.823 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
35.535 |
25.829 |
62.326 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.95 |
2.14 |
5.18 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
920.000 |
Expected Sales (2015-2016): Rs. 1100.000 Million
The above information has been parted by Mr. Ramesh Chander Saini
(Chief Finance Officer)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
49.438 |
55.600 |
33.885 |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
94.375 |
54.694 |
44.598 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
3.68 |
3.31 |
9.44 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/ Total Income) |
(%) |
13.96 |
15.59 |
16.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.68 |
4.72 |
6.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.24 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.47 |
3.16 |
2.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.18 |
1.21 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.0/- (Not Traded) |
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 |
53.411 |
53.451 |
80.176 |
|
Reserves & Surplus |
74.184 |
90.697 |
90.127 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
127.595 |
144.148 |
170.303 |
|
|
|
|
|
|
long-term borrowings |
159.729 |
219.186 |
151.437 |
|
Short term borrowings |
122.065 |
181.141 |
219.622 |
|
Current maturities of
long-term debts |
33.885 |
55.600 |
49.438 |
|
Total
borrowings |
315.679 |
455.927 |
420.497 |
|
Debt/Equity
ratio |
2.474 |
3.163 |
2.469 |
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 |
660.292 |
780.424 |
965.580 |
|
|
|
18.194 |
23.725 |
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 |
660.292 |
780.424 |
965.580 |
|
Profit |
62.326 |
25.829 |
35.535 |
|
|
9.44% |
3.31% |
3.68% |
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 three 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 |
OPERATIONS
The sales and operating income increased to Rs. 786.677 Million from Rs.
660.292 Million in the previous year yielding a growth of 19.14 %. The
operating profit for the year under review increased to Rs. 89.774 Million as
against Rs. 84.734 Million in the previous year registering an increase of 5.95
%. The company has earned profit after tax Rs. 25.830 Million during the year
under review.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10571696 |
27/05/2015 |
300,000.00 |
CANARA BANK |
MID CORPORATE BRANCH, SECTOR 34A, CHANDIGARH, CHA |
C54819222 |
|
2 |
10568970 |
01/05/2015 |
650,000.00 |
CANARA BANK |
MID CORPORATE BRANCH, SECTOR 34-A, CHANDIGARH- 160034, INDIA |
C53430815 |
|
3 |
10418545 |
18/03/2013 |
900,000.00 |
CANARA BANK |
SCO 167-168, SECTOR 8-C, CHANDIGARH - |
B72829302 |
|
4 |
10406403 |
31/12/2012 |
12,000,000.00 |
INTEC CAPITAL LIMITED |
701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI-110019, INDIA |
B68962711 |
|
5 |
10389473 |
06/10/2012 |
27,506,000.00 |
INTEC CAPITAL LIMITED |
701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI-110019, INDIA |
B63144125 |
|
6 |
10324776 |
30/11/2011 |
56,000,000.00 |
MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED |
GATEWAY BUILDING, APOLLO BUNDER, MUMBAI- 400001, MAHARASHTRA, INDIA |
B28433878 |
|
7 |
10282374 |
12/04/2012 * |
2,500,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO 145-146, FIRST AND SECOND FLOORS, SECTOR 17 C |
B38186268 |
|
8 |
10205695 |
10/03/2010 |
12,500,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO 145-146, FIRST AND SECOND FLOOR, SECTOR 17C, CHANDIGARH -
160017, INDIA |
A80773856 |
|
9 |
10205696 |
10/03/2010 |
15,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SCO-145-146, SECTOR-17 C, CHANDIGARH |
A80773930 |
|
10 |
10089588 |
27/02/2008 |
3,000,000.00 |
DIRECTOR OF INDUSTRIES |
DISTRICT INDUSTRIES CENTRE, UNA, HIMACHAL PRADESH |
A32984213 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer
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 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.66.38 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.