MIRA INFORM REPORT
|
Report No. : |
341530 |
|
Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH PIPES AND TUBES PRIVATE LIMITED (w.e.f. 21.08.2007) |
|
|
|
|
Formerly Known
As : |
AKSHATA PIPE INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village – Hedavali, Khopoli Pali Road, Taluka-Sudhagad, Khopoli –
410205, Maharashtra |
|
Tel. No.: |
91-2142-243150 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.11.2005 |
|
|
|
|
Com. Reg. No.: |
11-157395 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 540.098 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120MH2005PTC157395 |
|
|
|
|
IEC No.: |
0306016079 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT14204B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA6452L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of pipes, tubes (rigid/flexible) such as HDPE/PP pipes and fittings, PVC/C-PVC/PVDF. |
|
|
|
|
No. of Employees
: |
375 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 2005 and it is a manufacturer,
exporter and importer of pipes. Company possesses sound operational performance and it has maintained
satisfactory profit margins during FY 2014. Rating also takes into consideration experience of the promoters in
steel manufacturing business supported by sound financial base and adequate
networth profile of the company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. In view of aforesaid, the company can be considered 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 |
CARE |
|
Rating |
Long Term Bank Facilities BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
April 30, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Faculties A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
April 30, 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. Deepak Srivastava |
|
Designation : |
Assistant Manager in Finance |
|
Contact No.: |
91-7720026435 |
|
Date : |
18.09.2015 |
LOCATIONS
|
Registered Office / Factory: |
Village – Hedavali, Khopoli Pali Road, Taluka-Sudhagad, Khopoli –
410205, Maharashtra, India |
|
Tel. No.: |
91-2142-243150 |
|
Mobile No.: |
91-7720026435 (Mr. Deepak Srivastava) |
|
Fax No.: |
91-2142-243151 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
16th Floor, Tower 3, Indiabulls Finance Center, Senapati
Bapat Marg, Elphistone (West), Mumbai – 400013, India |
|
Tel No.: |
91-22-71500500 |
|
Fax No.: |
91-22-71500520 |
|
E-Mail : |
|
|
|
|
|
Administration Office : |
Office No 205, 2nd Floor, Raheja Centre, Free press Journal
Marg, Nariman Point, Mumbai – 400021, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Abhay Narendra Lodha |
|
|
Designation : |
Additional director |
|
|
Address : |
602, Vaitarna, |
|
|
Date of Birth/Age : |
01.06.1971 |
|
|
Date of Appointment : |
10.12.2014 |
|
|
DIN No.: |
00052194 |
|
|
|
|
|
|
Name : |
Mr. Shishir Shivaji Hiray |
|
|
Designation : |
Director |
|
|
Address : |
Opposite L.I.C., Camp Road, Malegaon – 423203, Maharashtra, India |
|
|
Date of Appointment : |
27.09.2014 |
|
|
DIN No. : |
02032125 |
|
|
|
|
|
|
Name : |
Harshraj Shantilal Bagmar |
|
|
Designation : |
Additional director |
|
|
Address : |
Main Road Dhanraj Nagar, Amravati, Chandur Railway, 444904, Maharashtra, India |
|
|
Date of Appointment : |
13.11.2014 |
|
|
DIN No. : |
06939529 |
|
|
|
|
|
|
Name : |
Ashwin Narendra Lodha |
|
|
Designation : |
Additional director |
|
|
Address : |
502, Vaitarna Worli Sagar Co-Operative Housing Society Limited, Sir Pochkanwala Road, Worli Sea Face, Worli, Mumbai - 400030, Maharashtra, India |
|
|
Date of Appointment : |
20.03.2015 |
|
|
DIN No. : |
00066948 |
|
KEY EXECUTIVES
|
Name : |
Mr. Deepak Srivastava |
|
Designation : |
Assistant Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Abhay Lodha |
2749750 |
5.09 |
|
Ashwin Lodha |
2333500 |
4.32 |
|
Vaibhav Lodha |
3000 |
0.01 |
|
Akshata Realtors Private Limited, India |
21625000 |
40.04 |
|
Phoenix Realtors Private Limited, India |
14965000 |
27.71 |
|
Excel Global FZE, United Arab Emirates |
4833530 |
8.95 |
|
Riya Real Estates Private Limited, India |
7500000 |
13.89 |
|
Total |
54009780 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
8.95 |
|
Bodies corporate |
81.63 |
|
Directors or relatives of Directors |
9.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of pipes, tubes (rigid/flexible) such as HDPE/PP pipes and fittings, PVC/C-PVC/PVDF. |
|
|
|
|
Products : |
· H-SAW Pipes · ERW Black Pipes · Mild Steel Pipes · Galvanised Pipes · Carbon Steel Pipes |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
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Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users, and OEMs
|
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No. of Employees : |
375 (Approximately) |
||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||
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Facilities : |
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|
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Auditors : |
|
|
Name : |
Jain and Chhoriya and Company Chartered Accountants |
|
Address : |
59 GY Building 4th Floor, 109 Yusuf Meher Ali Road, Masjid
Bunser, Mumbai – 400003, Maharashtra, India |
|
PAN No.: |
AADFJ9495M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54009780 |
Equity Shares |
Rs.10/- each |
Rs. 540.098 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 |
540.098 |
540.098 |
390.098 |
|
(b) Reserves &
Surplus |
2683.905 |
2379.939 |
1675.342 |
|
(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) |
3224.003 |
2920.037 |
2065.440 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1560.750 |
1997.691 |
2350.207 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2313.295 |
1650.000 |
1300.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3874.045 |
3647.691 |
3650.207 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
814.079 |
775.898 |
801.820 |
|
(b) Trade payables |
5976.978 |
4935.621 |
3536.001 |
|
(c) Other current
liabilities |
528.076 |
449.904 |
344.605 |
|
(d) Short-term provisions |
225.373 |
175.989 |
87.783 |
|
Total Current Liabilities
(4) |
7544.506 |
6337.412 |
4770.209 |
|
|
|
|
|
|
TOTAL |
14642.554 |
12905.140 |
10485.856 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4179.618 |
3990.591 |
4160.245 |
|
(ii) Intangible Assets |
1.328 |
2.214 |
3.669 |
|
(iii) Capital
work-in-progress |
153.619 |
225.013 |
106.227 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4334.565 |
4217.818 |
4270.141 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3795.654 |
3465.389 |
2308.236 |
|
(c) Trade receivables |
4840.128 |
3743.799 |
2541.887 |
|
(d) Cash and cash
equivalents |
11.626 |
9.313 |
662.131 |
|
(e) Short-term loans and
advances |
1660.493 |
1468.690 |
703.286 |
|
(f) Other current assets |
0.088 |
0.131 |
0.175 |
|
Total Current Assets |
10307.989 |
8687.322 |
6215.715 |
|
|
|
|
|
|
TOTAL |
14642.554 |
12905.140 |
10485.856 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
17701.376 |
15614.897 |
10532.978 |
|
|
Other Income |
17.152 |
2.554 |
18.761 |
|
|
TOTAL |
17718.528 |
15617.451 |
10551.739 |
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
16555.528 |
14549.948 |
9752.565 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1163.000 |
1067.503 |
799.174 |
|
|
|
|
|
|
|
|
FINANCIAL EXPENSES |
562.323 |
532.953 |
542.647 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
600.676 |
534.550 |
256.527 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
220.682 |
216.273 |
203.167 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
379.994 |
318.277 |
53.360 |
|
|
|
|
|
|
|
|
TAX |
76.028 |
63.680 |
10.676 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
303.967 |
254.597 |
42.684 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
1.155 |
88.528 |
174.188 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Material |
658.406 |
0.000 |
480.168 |
|
|
Components, stores, spare parts and Consumables |
28.343 |
53.579 |
15.148 |
|
|
Capital Goods |
0.000 |
0.000 |
3.017 |
|
|
TOTAL IMPORTS |
686.749 |
53.579 |
498.333 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(Rs.) |
5.63 |
4.71 |
0.79 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
485.420 |
418.042 |
315.674 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
711.976 |
(464.275) |
NA |
|
Net cash flows from (used in) operating activities |
711.976 |
(464.275) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.72 |
1.63 |
0.41 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.57 |
6.84 |
7.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.62 |
2.51 |
0.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.11 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.89 |
1.09 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.37 |
1.30 |
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 |
390.098 |
540.098 |
540.098 |
|
Reserves & Surplus |
1675.342 |
2379.939 |
2683.905 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2065.440 |
2920.037 |
3224.003 |
|
|
|
|
|
|
long-term borrowings |
2350.207 |
1997.691 |
1560.750 |
|
Short term borrowings |
801.820 |
775.898 |
814.079 |
|
Current maturities of
long term debt |
315.674 |
418.042 |
485.420 |
|
Total borrowings |
3467.701 |
3191.631 |
2860.249 |
|
Debt/Equity ratio |
1.679 |
1.093 |
0.887 |
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 |
10532.978 |
15614.897 |
17701.376 |
|
|
|
48.248 |
13.362 |
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 |
10532.978 |
15614.897 |
17701.376 |
|
Profit |
42.684 |
254.597 |
303.967 |
|
|
0.41% |
1.63% |
1.72% |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10526680 |
13/10/2014 |
150,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE BRANCH
MAKER TOWER-E, 14TH FLOOR, |
C30312433 |
|
2 |
10519735 |
26/08/2014 |
300,000,000.00 |
UNION BANK OF INDIA |
LOWER PAREL
BRANCH,YASHWANT BHAWAN, PANDURANG BH |
C20444022 |
|
3 |
10519251 |
23/05/2014 |
140,000,000.00 |
SYNDICATE BANK |
PRABHADEVI BRANCH
,G-001,RAJAN HOUSE,A.S.MARATHE, |
C20013330 |
|
4 |
10495674 |
12/04/2014 |
900,000,000.00 |
UNION BANK OF INDIA |
LOWER PAREL BRANCH,
YASHWANT BHAVAN, PANDURANG BH |
C04574505 |
|
5 |
10502970 |
11/04/2014 |
640,000,000.00 |
BANK OF BARODA |
FORT UNIVERSITY
BRANCH, 119, MAHATMA GANDHI MARG, |
C06134258 |
|
6 |
10467916 |
14/12/2013 |
700,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, ATLANTA
1ST FLOOR, JAMNALAL B |
B92646090 |
|
7 |
10469520 |
17/12/2013 * |
200,000,000.00 |
PUNJAB NATIONAL BANK |
FORESHORE ROAD
BRANCH,, 1ST FLOOR, RAHEJA CHAMBER |
B94218955 |
|
8 |
10434655 |
04/06/2013 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
FORESHORE ROAD
BRANCH, 1ST FLOOR, RAHEJA CHAMBER |
B78650926 |
|
9 |
10429620 |
16/05/2013 |
250,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 37, MUMBAI SAMACHAR MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B76533330 |
|
10 |
10397963 |
29/12/2012 |
130,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, 37, MUMBAI SAMACHAR MAR |
B66218405 |
* Date of charge modification
REVIEW OF OPERATIONS
During the year, the Company's Net Income from operations stood at Rs. 17701.376 Million as compared to Rs. 15614.897 Million in the previous year. Profit before finance cost and taxation for the year stood at Rs.942.318 Million against Rs. 851.230 Million in the previous year. Profit after Tax increased from Rs.254.597 Million in previous year to Rs. 303.967 Million in the year.
CONTINGENT
LIABILITIES/ ASSETS NOT PROVIDED FOR
1) Estimated amount of contracts remaining to be executed on Capital Assets as on 31st March, 2013 amounting to Rs.260.366 Million (P.Y. Rs.25.000 Million) due to expansion of existing assets.
2) The company has given guarantees aggregating Rs. 395.805 Million (P.Y.Rs.118.172 Million) to custom, excise, government authorities and Supplier's.
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer Equipments
- Other Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.93 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.