MIRA INFORM REPORT

 

 

Report No. :

340741

Report Date :

12.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SUPER DYNIC CLOTHING PRIVATE LIMITED

 

 

Registered Office :

Adhyaru Industrial Premises Co-operative Society, 111, 1st New Sun Mill Compound, Lower Parel (West) Mumbai – 400 013, Maharashtra

Tel. No.:

91-22-40232044/ 45

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.07.1991

 

 

Com. Reg. No.:

11-062384

 

 

Capital Investment / Paid-up Capital :

Rs.2.500 Million

 

 

CIN No.:

[Company Identification No.]

U17120MH1991PTC062384

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS14990D

 

 

PAN No.:

[Permanent Account No.]

AABCS3483R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing, Trading and Exporting of Towels, Bathmats, Slippers and Terry Seat Covers. (50% Manufacturing done through job work)

 

 

No. of Employees :

45 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (31)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in 1991 at Mumbai (Maharashtra) by Mr. Suresh Kr Agarwal and Mr. Manoj Agarwal. The company trades in towel, bed sheet, fabric, quit, etc. it is established company having a moderate track record.

 

Rating is constrained on company’s below-average financial risk profile marked by a leveraged capital structure and weak debt protection metrics and its modest scale of operation with low profit margin of the company.

 

However, rating takes into consideration on company promoter’s extensive experience in textile industry and established track record supporting its business risk profile.

 

Trade relations are reported to be fair. Business is active. Payment terms are slow but correct.

 

The company can be considered for business dealings with some caution. 

 

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 Bank Facilities = BB-

Rating Explanation

Inadequate credit quality and high credit risk.

Date

August, 2014

 

Rating Agency Name

CRISIL

Rating

Short term Bank Facilities = A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

August, 2014

 

 

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. Satish Verma

Designation :

Accounts Department

Contact No.:

91-22-40232044

Date :

10.09.2015

 

 

LOCATIONS

 

Registered Office :

Adhyaru Industrial Premises Co-operative Society, 111, 1st New Sun Mill Compound, Lower Parel (West) Mumbai – 400 013, Maharashtra, India 

Tel. No.:

91-22-40232044/ 45

Mobile No.:

91-9323185504 (Mr. Satish)

Fax No.:

Not Available

E-Mail :

accounts@superpun.com

gaurav_agarwal@superspun.com

Website :

http://www.superspun.com

Area :

1150 sq. ft.

Location :

Owned

Locality:

Industrial

 

 

Factory Cum Warehouse :

Bhiwandi, Mumbai, Maharashtra, India

Location :

Rented

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Suresh P. Agarwal

Designation :

Director

Address :

202, Lillou Villa, West Avenue, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

03.09.1956

Date of Appointment :

05.08.1999

DIN No.:

00773957

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U70100MH1980PTC022852

JAY PROPERTIES PRIVATE LIMITED

Director

1/1/1986

1/1/1986

5/4/2013

Active

NO

2

U65923MH1993PTC071493

DEORALIA FINANCE PRIVATE LIMITED

Director

7/4/1993

7/4/1993

-

Active

NO

3

U17120MH1991PTC062384

SUPER DYNIC CLOTHING PRIVATE LIMITED

Director

5/8/1999

5/8/1999

-

Active

NO

4

U27310MH2009PTC192141

SWALS STEEL PRIVATE LIMITED

Director

1/5/2009

1/5/2009

-

Active

NO

5

L64200MH2006PLC160733

SITI CABLE NETWORK LIMITED

Director

17/08/2009

1/6/2009

-

Active

NO

6

U92132WB1995PLC075754

INDIAN CABLE NET COMPANY LIMITED

Director

1/8/2012

11/5/2012

-

Active

NO

 

 

Name :

Mr. Manoj P. Agarwal

Designation :

Director

Address :

202, Lillou Villa, West Avenue, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

14.08.1967

Date of Appointment :

31.12.1998

DIN No.:

00773999

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U65923MH1993PTC071493

DEORALIA FINANCE PRIVATE LIMITED

Director

7/4/1993

7/4/1993

-

Active

NO

2

U17120MH1991PTC062384

SUPER DYNIC CLOTHING PRIVATE LIMITED

Director

31/12/1998

31/12/1998

-

Active

NO

3

U27310MH2009PTC192141

SWALS STEEL PRIVATE LIMITED

Director

1/5/2009

1/5/2009

-

Active

NO

4

U65990MH2010NPL206213

VARDAANA FINANCIAL INCLUSION FOUNDATION

Director

3/8/2010

3/8/2010

31/12/2011

Active

NO

5

L51900MH1984PLC034501

SHIRPUR GOLD REFINERY LIMITED

Director

6/9/2012

28/06/2012

-

Active

NO

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Satish Verma

Designation :

Accounts Department

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Suresh P. Agarwal

 

5080

Jaikishan Agarwal

 

2635

Mahavir Prasad Agarwal

 

4010

Mangturam Agarwal

 

3510

Manoj Agarwal Karta

 

1090

Kanta M. Agarwal

 

10

Manoj P. Agarwal

 

1200

Suresh P Agarwal Karta

 

1310

Vasant G. Badgamia

 

10

Sushil G. Badgamia

 

10

Manjula Manoj Agarwal

 

10

Manju Suresh Agarwal

 

3010

Nirmala Sushil Badgamia

 

10

Anup V. Badgamia

 

10

Santosh Arun Badgamia

 

10

Vijay Badgamia

 

10

Rajdulari V. Badgamia

 

10

Phoolchand T. Agarwal Karta

 

10

Savitridevi P. Agarwal

 

10

Meena J. Agarwal

 

10

Nidhi Agarwal through Father and Natural Guardian Suresh Agarwal

 

10

Vijeta Agarwal through Father and Natural Guardian Mahesh  Agarwal

 

10

Phoolchand Tirkharam Agarwal

 

1125

Gaurav Agarwal

 

1750

Monika Agarwal Through Father and Natural Guardian Shivprasad Agarwal

 

10

Priti Agarwal Through Father and Natural Guardian Purushottam Das Agarwal

 

10

Manish Agarwal through Father and Natural Guardian Purushottam Das Agarwal

 

10

Sonali Agarwal

 

10

Bhoomit Agarwal

 

100

Total

 

25000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing, Trading and Exporting of Towels, Bathmats, Slippers and Terry Seat Covers. (50% Manufacturing done through job work)

 

 

Products :
  • Towels
  • Bathmats
  • Slippers
  • Terry Seat Covers
  • Bed Sheet
  • Fabric etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • South Africa
  • Australia
  • Dubai
  • United States of America

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash, Advance Payment and Cheque

 

 

Purchasing :

Cash, Advance Payment and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Welspun India Limited, Mumbai, Maharashtra, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Shop CJ, Mumbai, Maharashtra, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

45 (Approximately)

 

 

Bankers :

Banker Name

Punjab and Sind Bank

Branch Address

Opera House Branch, 78, Girgaum Road, Opera House, Mumbai - 400004, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWINGS

 

 

Vehicle loans

0.330

0.735

Term loans from Bank

10.714

12.857

SHORT TERM BORROWINGS

 

 

Working capital facilities from bank

93.123

77.776

Total

104.167

91.368

 

Notes:

 

LONG TERM BORROWING:

 

a)     Vehicle loans from banks are secured against hypothecation of specific vehicles.

b)    Term loan from bank of Rs.12.857 Million (Rs.15.000 Million) is secured against equitable mortgage of immovable property of the company situated at Mumbai. The loan carries interest @ 2.75%+T.P above base rate and is repayable in 84 monthly installments ending in the financial year 2019-2020.

 

SHORT TERM BORROWING:

 

a)     Working Capital Facilities from bank of Rs.93.123 Million (Rs.77.776 Million) are secured against first charge by hypothecation of stock, confirmed orders, letters of credit, export bills and all other current assets. They are also collaterally secured against equitable mortgage of two residential flats, 10 LIC policies, NSC, FDR of directors.

 

Auditors :

 

Name :

MGB and Company

Chartered Accountants

Address :

Peninsula Business Park Tower B, 19th Floor  Lower Parel, Mumbai – 400013, Maharashtra, India

Tel. No.:

91-22-61246124

E-Mail :

mgbco@mgbco.com

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

AAAFM5742R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

25000

Equity Shares

Rs.100/- each

Rs.2.500 Million

10000

Preference Shares

Rs.100/- each

Rs.1.000 Million

 

Total

 

Rs.3.500 Million

 

Issued, Subscribed & Paid-up Capital :.

No. of Shares

Type

Value

Amount

 

 

 

 

25000

Equity Shares

Rs.100/- each

Rs.2.500 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2.500

2.500

1.551

(b) Reserves & Surplus

16.326

13.168

8.843

(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)

18.826

15.668

10.394

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

62.279

56.408

27.590

(b) Deferred tax liabilities (Net)

0.156

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)

62.435

56.408

27.590

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

102.548

77.776

70.965

(b) Trade payables

26.070

15.063

37.404

(c) Other current liabilities

23.730

16.014

12.614

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

152.348

108.853

120.983

 

 

 

 

TOTAL

233.609

180.929

158.967

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

23.516

25.705

3.199

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.038

0.193

(d)  Long-term Loan and Advances

2.277

8.782

6.655

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

25.793

34.525

10.047

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

87.826

63.193

69.112

(c) Trade receivables

114.185

77.626

75.506

(d) Cash and cash equivalents

0.968

0.183

0.139

(e) Short-term loans and advances

1.895

2.512

4.163

(f) Other current assets

2.942

2.890

0.000

Total Current Assets

207.816

146.404

148.920

 

 

 

 

TOTAL

233.609

180.929

158.967

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

576.142

574.436

381.684

 

Other Income

NA 

NA 

NA 

 

TOTAL

NA 

NA 

NA 

 

 

 

 

 

Less

TOTAL EXPENSES

NA 

NA 

NA 

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

7.011

6.467

4.318

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

2.337

1.437

1.046

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

4.674

5.030

3.272

 

 

 

 

 

Less

TAX

1.516

1.655

1.072

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

3.158

3.375

2.200

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

126.32 

135.00

88.00

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

800.000

 

 

 

 

 

Expected Sales (2015-2016): Rs.1000.000 Million

 

The above information has been parted by Mr. Satish Verma (Account Department)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

2.549

3.106

0.739

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 / Sales)

(%)

0.55

0.59

0.58

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.00

2.78

2.06

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.25

0.32

0.31

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

8.89

8.76

9.55

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.36

1.34

1.23

 

 

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

1.551

2.500

2.500

Reserves & Surplus

8.843

13.168

16.326

Net worth

10.394

15.668

18.826

 

 

 

 

long-term borrowings

27.590

56.408

62.279

Short term borrowings

70.965

77.776

102.548

Current maturities of long-term debts

0.739

3.106

2.549

Total borrowings

99.294

137.290

167.376

Debt/Equity ratio

9.553

8.762

8.891

 

 

 

 

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

381.684

574.436

576.142

 

 

50.500

0.297

 

 

 

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

381.684

574.436

576.142

Profit

2.200

3.375

3.158

 

0.58%

0.59%

0.55%

 

 


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

Yes

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

No

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 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

 

 

NOTE: Registered office of the company has been shifted from 159/160 Kaliandas Udyog Bhavan, Century Bazar Lane Worli Mumbai Maharashtra India 400025 to the present address w.e.f. 01.11.2012

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans from related parties

51.235

42.816

SHORT TERM BORROWING

 

 

Intercorporate Loans

7.799

0.000

Loans from related parties

1.626

0.000

Total

60.660

42.816

 

Notes:

 

LONG TERM BORROWING:

 

1)     Unsecured loans carry interest @ 15%.

 

SHORT TERM BORROWING:

 

1)     Unsecured loans of Rs.9.425 Million (Rs. NIL) carry interest @ 15%.

 

 

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10476631

14/12/2013

30,000,000.00

PUNJAB AND SIND BANK

OPERA HOUSE BRANCH, 78, GIRGAUM ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA

B95961876

2

10390256

20/02/2014 *

140,000,000.00

PUNJAB AND SIND BANK

OPERA HOUSE BRANCH, 78, GIRGAUM ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA

C06825871

3

10372614

08/08/2012

5,000,000.00

PUNJAB AND SIND BANK

OPERA HOUSE BRANCH, 78, GIRGAUM ROAD, OPERA HOUSE , MUMBAI, MAHARASHTRA - 400004, INDIA

B56406267

4

10134340

02/12/2008

2,000,000.00

PUNJAB AND SIND BANK

78, J.S.S. ROAD,, OPERA HOUSE,, MUMBAI, MAHARASHTRA - 400004, INDIA

A53055240

5

10089469

18/12/2007

20,000,000.00

PUNJAB AND SIND BANK

78, J.S.S. ROAD,, OPERA HOUSE,, MUMBAI, MAHARASHTRA - 400004, INDIA

A30411656

6

10089468

30/09/2014 *

90,000,000.00

PUNJAB AND SIND BANK

OPERA HOUSE BRANCH, 78, GIRGAUM ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA

C37765435

7

10022150

05/09/2006

2,500,000.00

PUNJAB AND SIND BANK

OPERA HOUSE BRANCH, 78, J.S.S. MARG, GIRGAON, MUMBAI, MAHARASHTRA - 400004, INDIA

A05525142

8

90153637

05/09/2006 *

1,000,000.00

PUNJAB AND SIND BANK

OPERA HOUSE BRANCH, 78, J.S.S. MARG, GIRGAON, MUMBAI, MAHARASHTRA - 400004, INDIA

-

 

* Date of charge modification

 

FIXED ASSETS

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.66.39

UK Pound

1

Rs.102.59

Euro

1

Rs.74.90

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

31

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.