MIRA INFORM REPORT
|
Report No. : |
340970 |
|
Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
RINAC INDIA LIMITED |
|
|
|
|
Registered
Office : |
No 5, Saraswathi Nivas, Main Channel Road, Saraswathipuram ,Ulsoor,
Bangalore- 560008, Karnataka |
|
Tel. No.: |
91-80-65359823/25542998/41132998 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.01.1994 |
|
|
|
|
Com. Reg. No.: |
08-015169 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.104.574 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52334KA1994PLC015169 |
|
|
|
|
IEC No.: |
0795004761 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRR00790G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR7111E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Cold Rooms and Refrigerated Facilities
for Commercial use. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 980000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company incorporated in the year 1994 having
a satisfactory track. The company has shown a significant growth in its profit during FY
2014. Available financial indicates company is satisfactory financial risk
profile marked by decent netowrth position with negligible debt and good
profitability margin of the company. 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 |
ICRA |
|
Rating |
Long term rating : BBB- |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
March, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating : A3 |
|
Rating Explanation |
Moderate degree of safety and carry higher 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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Panduranga |
|
Designation : |
Accountant |
|
Contact No.: |
91-9945234239 |
|
Date : |
11.09.2015 |
LOCATIONS
|
Registered Office /Corporate Office : |
No 5, Saraswathi Nivas, Main Channel Road, Saraswathipuram ,Ulsoor,
Bangalore- 560008, Karnataka, India |
|
Tel. No.: |
91-80-65359823/25542998/41132998 |
|
Mobile No.: |
91-9831770200 (Dipendra Debnath) 91-9945234239 (Mr. Panduranga) |
|
Fax No.: |
91-80-25511750/23588222 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Central Admin. And Commercial Service Department: |
Survey No. 128/1 and 128/2, Herohally Village, Vishwaneedam Post,
Magadi Main Road, Byadarahalli, Bangalore – 560091, Karnataka, India |
|
Tel. No.: |
91-80-65359823/24/25 |
|
Fax No.: |
91-80-23588464 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Survey No. 2, Tavarekere Hobli, Marenahalli Village, Magadi Road,
Bangalore South-562120, Karnataka, India |
|
Tel. No.: |
91-80-28434507/28434508/28430724/25 |
|
Fax No.: |
91-80-28430490 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. M – 5, Additional Industrial Area, MIDC, Kundavali Village, Murbad
– 421401, Thane District, Maharashtra, India |
|
Tel. No.: |
91-2524-223618/223531 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
#59A South End Park Near Gariahat Road, Kolkata – 700029, West Bengal, India |
|
|
|
|
Branch Office 2 : |
|
DIRECTORS
AS ON: 30.09.2014
|
Name : |
Mr. Puthucode Vaidyanathan Balasubramanian |
|
Designation : |
Managing Director |
|
Address : |
46/4, 1 Cross, Cambridge Layout Extension, Bangalore-560008,
Karnataka, India |
|
Date of Birth/Age : |
10.05.1954 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
00352321 |
|
|
|
|
Name : |
Mr. Parakkel Sukumaran |
|
Designation : |
Whole Time Director |
|
Address : |
F-155, Manyata Residency Nagawar, Bangalore – 560045, Karnataka, India |
|
Date of Birth/Age : |
23.07.1957 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
00352296 |
|
|
|
|
Name : |
Mr. Puthucode Vaiyanathan Venkiteswaran |
|
Designation : |
Director |
|
Address : |
No.29, 1st A Cross, Cambridge Layout Extension, Bangalore –
56008, Karnataka, India |
|
Date of Birth/Age : |
15.05.1950 |
|
Date of Appointment : |
13.06.2007 |
|
DIN No.: |
01352094 |
|
|
|
|
Name : |
Mr. Mahendra Swarup |
|
Designation : |
Nominee Director |
|
Address : |
C-7, Paschimi Marg, Vasant Vihar, New Delhi-110057, Delhi, India |
|
Date of Birth/Age : |
10.05.1953 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
01213634 |
|
|
|
|
Name : |
Mr. Mousum Pal Choudhury |
|
Designation : |
Nominee
director |
|
Address : |
899, Sector A, Pocket B – C, Vasant Kunj, New Delhi – 110070, Delhi,
India |
|
Date of Birth/Age : |
06.11.1980 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
05199412 |
|
|
|
|
Name : |
Yasho Verdhan Verma |
|
Designation : |
Director |
|
Address : |
B-82, Sector-50, Noida - 201301, Uttar Pradesh, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
06389278 |
|
|
|
|
Name : |
Nedungat Sivasankaran Nair |
|
Designation : |
Director |
|
Address : |
B-1204, Chaitanya Towers, A. M. Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
00113219 |
KEY EXECUTIVES
|
Name : |
Mr. Panduranga |
|
Designation : |
Accountant |
|
|
|
|
Name : |
R Manikandan |
|
Designation : |
Secretary |
|
Address : |
No.24, 1st Floor, Bhudtha Nilaya, Parappana Agrahara, Bangalore - 560100, Karnataka, India |
|
PAN No.: |
BHVPM1899J |
|
Date of Appointment : |
28.11.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2014
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2014
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
55.16 |
|
Bodies corporate |
|
4.32 |
|
Directors or relatives of directors |
|
29.69 |
|
Other top fifty shareholders |
|
10.83 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Cold Rooms and Refrigerated Facilities
for Commercial use. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Cold Rooms and Refrigerated Facilities |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Advance payment |
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Purchasing : |
Cash and Advance payment |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Center, Anchorade II, 100/2, Richmond Road, Bangalore-560025,
Karnataka, India |
|
PAN No.: |
AACSD3771D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Entity in which KMP
exercises significant influence - : |
Modular Cold Rooms Private Limited [U29191KA1990PTC011008] |
CAPITAL STRUCTURE
AS ON: 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 140.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,457,368 |
Equity Shares |
Rs.10/- each |
Rs. 104.574
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 |
104.574 |
104.574 |
104.574 |
|
(b) Reserves & Surplus |
240.031 |
199.693 |
193.958 |
|
(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) |
344.605 |
304.267 |
298.532 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
16.024 |
14.378 |
12.547 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
16.024 |
14.378 |
12.547 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
10.701 |
69.355 |
36.493 |
|
(b) Trade
payables |
465.472 |
440.766 |
394.504 |
|
(c) Other
current liabilities |
125.474 |
97.707 |
137.553 |
|
(d) Short-term
provisions |
22.391 |
11.860 |
8.842 |
|
Total Current
Liabilities (4) |
624.038 |
619.688 |
577.392 |
|
|
|
|
|
|
TOTAL |
984.667 |
938.333 |
888.471 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
316.394 |
328.791 |
348.744 |
|
(ii) Intangible
Assets |
0.436 |
1.863 |
2.965 |
|
(iii)
Capital work-in-progress |
0.000 |
1.425 |
2.096 |
|
(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) |
8.440 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.395 |
1.245 |
1.033 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
333.665 |
333.324 |
354.838 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
166.450 |
192.970 |
191.958 |
|
(c) Trade
receivables |
332.540 |
294.704 |
240.548 |
|
(d) Cash
and cash equivalents |
63.605 |
58.033 |
34.437 |
|
(e) Short-term
loans and advances |
88.407 |
59.302 |
66.690 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
651.002 |
605.009 |
533.633 |
|
|
|
|
|
|
TOTAL |
984.667 |
938.333 |
888.471 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1344.446 |
1068.208 |
1205.194 |
|
|
|
Other Income |
5.300 |
12.405 |
1.858 |
|
|
|
TOTAL |
1349.746 |
1080.613 |
1207.052 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
925.936 |
737.200 |
817.613 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
23.594 |
(4.172) |
1.830 |
|
|
|
Employees benefits expense |
125.765 |
126.911 |
126.002 |
|
|
|
Other expenses |
214.009 |
176.157 |
213.632 |
|
|
|
TOTAL
|
1289.304 |
1036.096 |
1159.077 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
60.442 |
44.517 |
47.975 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.695 |
19.888 |
24.066 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
50.747 |
24.629 |
23.909 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
18.849 |
18.894 |
19.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
31.898 |
5.735 |
4.847 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.440 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
40.338 |
5.735 |
4.847 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(28.846) |
(34.581) |
(39.429) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11.492 |
(28.846) |
(34.582) |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS
IN FOREIGN CURRENCY |
4.875 |
22.312 |
69.458 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.86 |
0.55 |
0.45 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
52.928 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
76.256 |
43.259 |
NA |
|
Net cash flows from (used in) operating activities |
71.744 |
45.087 |
(1.318) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.00 |
0.54 |
0.40 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.50 |
4.17 |
3.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.27 |
0.61 |
0.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03 |
0.23 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
0.98 |
0.92 |
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 |
104.574 |
104.574 |
104.574 |
|
Reserves & Surplus |
193.958 |
199.693 |
240.031 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
298.532 |
304.267 |
344.605 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
36.493 |
69.355 |
10.701 |
|
Current maturities of long
term debt |
52.938 |
0.000 |
0.000 |
|
Total borrowings |
89.431 |
69.355 |
10.701 |
|
Debt/Equity ratio |
0.300 |
0.228 |
0.031 |
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) |
|
Sales |
1205.194 |
1068.208 |
1344.446 |
|
|
|
(11.366) |
25.860 |
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 |
1205.194 |
1068.208 |
1344.446 |
|
Profit |
4.847 |
5.735 |
40.338 |
|
|
0.40% |
0.54% |
3.00% |
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 |
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 |
YEAR IN RETROSPECT
The Company has achieved a Revenue turnover of Rs. 1349 Million for the year ended 31st March 2014, the revenue for the financial year 2013-14 grew 24% from the previous fiscal.
The earnings before depreciation, interest, taxes and exceptional items grew by 35% from the previous year. The Company has reported profits amounting to Rs. 31.890 Million for the financial year as compared to profit of Rs. 5.730 Million in the previous year.
BUSINESS PROSPECTS
The board is confident of doing healthy business in the coming years. Aggressive marketing, New products and geographies, continued focus on Customer Satisfaction and Customer Service shall be highest priorities of the Company. Company has participated in many of the private and public tenders, management is hoping to secure few orders from many of the tendered projects. New Central Government is encouraging private players to increase the number of food parks by offering many incentives. The Company is quite confident that the performance of the current year will very well surpass the previous year result.
CURRENT YEAR OUTLOOK
The Company has a very healthy order book position as compared to the previous year. The beginning of the current year has an order book carry forward of around Rs.730 Million which helped the company to reach Rs.382 Million in the first quarter and the management is confident that the company will reach better position at the end of the year. Rapid growth of retail, hospitality, Food and Pharma business have been the drivers to growth of industrial and commercial refrigeration and construction applications.
The company is participating in the private and the government tenders and project bids to secure new orders. The company has already executed several orders for setting up cold chain facility for Karnataka state Government. The Company has stepped up the sales through dealers certain models of Modular cold rooms suitable for two tier city restaurants and expects business inflow.
UNSECURED
LOAN
|
Particular |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Short Term
Borrowing |
|
|
|
Loans and Advances from related parties |
2.000 |
6.000 |
|
|
|
|
|
Total |
2.000 |
6.000 |
INDEX OF CHARGES:-
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80013021 |
28/08/2013 * |
350,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, NO.28, 2ND FLOOR, CENTENA |
B85314078 |
|
2 |
90201000 |
24/12/2012 * |
90,000,000.00 |
DEVELOPMENT CREDIT BANK LIMITED |
M. G. ROAD BRANCH, PRESTIGE MERIDIAN ANNEXE, NO.1 |
B64650161 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment
- Computer software
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
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
5 |
|
--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 |
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 |
|
46 |
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.