MIRA INFORM REPORT
|
Report No. : |
342321 |
|
Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SWASTIK CERACON
LIMITED (w.e.f 27.04.2010) |
|
|
|
|
Formerly Known
as : |
MARBOLITE GRANITO INDIA LIMITED |
|
|
|
|
Registered
Office : |
D/801-807, Ganesh Meridian, Opposite Amiraj Farm, Near. Gujarat High
Court, S.G. Highway, Ahmedabad – 380060, Gujarat |
|
Tel No : |
91-79-40097072 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.01.2005 |
|
|
|
|
Com. Reg. No.: |
04-045383 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 222.117 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26920GJ2005PLC045383 |
|
|
|
|
IEC No.: |
0806012111 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM07596B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM4519E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer, Trader Exporter and Importer of Tiles |
|
|
|
|
No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated in the year 2005
having satisfactory track. Subject is engaged in the business as a manufacturer, trader, exporter
and importer of tiles. Profit of the company has declined during FY 2014. However, net worth
position of the company is satisfactory. General financial position of the
company is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payment
terms are reported as slow but 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Long Term Issuer Rating (BB-) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
January 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. Amit Patel |
|
Designation : |
Account Department |
|
Contact No.: |
91-79-40097072 |
LOCATIONS
|
Registered Office : |
D/801-807, Ganesh Meridian, Opposite Amiraj Farm, Near. Gujarat High
Court, S.G. Highway, Ahmedabad – 380060, Gujarat, India |
|
Tel. No.: |
91-79-40097072 |
|
Mobile No.: |
91-9909964923 (Mr. Parth Shah) |
|
Fax No.: |
91-79-29299721 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
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Factory 1: |
Sr. No.249, At
P.O. Palaj, Mehsana-Becharaji Road, Taluka: Mehsana – 384410, Gujarat, India |
|
|
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|
Factory 2: |
25, Sobhasan Road, Mehsana – 384002, Gujarat, India |
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Factory 3: |
At P.O. Nandasan, Ahmedabad-Mehsana Highway, Taluka: Kadi,
Mehsana – 382706, Gujarat, India |
|
|
|
|
Factory 4: |
Ceramic Zone, St. At P.O. Dalpur, Katwad Road,
Ahmedabad-Himatnagar Highway, District: Sabarkantha, Himatnagar – 383120,
Gujarat, India |
|
|
|
|
Regional Office /
Showrooms: |
Located at · Ahmedabad · New Delhi · Mumbai · Chennai ·
Cochin |
DIRECTORS
As on : 30.09.2014
|
Name : |
Girishkumar Jayantibhai Patel |
|
Designation : |
Managing Director |
|
Address : |
21, Sarnam Bunglow, Near Chandan Party Plot, Vejapur, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
04.04.1970 |
|
Qualification : |
B.Com |
|
Experience : |
18 Years |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
AGPPP6709C |
|
DIN No.: |
00426120 |
|
|
|
|
Name : |
Pankaj Narayanbhai Patel |
|
Designation : |
Director |
|
Address : |
8, Rudravan Bunglows, Near Someshwar Park, Gulab Tower, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
10.06.1971 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
01.10.2014 |
|
PAN No. : |
AGWPP2869E |
|
DIN No. : |
01320345 |
|
|
|
|
Name : |
Mr. Jigar Patel Kodarlal |
|
Designation : |
Director |
|
Address : |
AT Nava Revas, Himmat Nagar – 383450, Gujarat, India |
|
Date of Birth/Age : |
10.12.1981 |
|
Date of Appointment : |
01.10.2014 |
|
DIN No.: |
00582237 |
|
|
|
|
Name : |
Mr. Chirag Kumar Maganbhai Patel |
|
Designation : |
Director |
|
Address : |
1 – 7, AT and Post – Voravan, TA – IDAR, Sabarkantha – 383450,
Gujarat, India |
|
Date of Birth/Age : |
20.10.1984 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
06677283 |
|
|
|
|
Name : |
Mr. Nirav Chandravadan Patel |
|
Designation : |
Director |
|
Address : |
Javangadh, Ganthiol, Idar, Sabarkantha – 383410, Gujarat, India |
|
Date of Birth/Age : |
19.09.1986 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
05295027 |
|
|
|
|
Name : |
Mr. Ganpatbhai Dwarkadas Patel |
|
Designation : |
Director |
|
Address : |
36/2, Hill Nagar Society, Near Airodram, Mehsana – 384002, Gujarat,
India |
|
Date of Birth/Age : |
01.02.1950 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
00186897 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Patel |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Mr. Parag Dhorajia |
|
Designation : |
Manager-International Trade |
|
Mobile No.: |
91-9925046704 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on : 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
4.41 |
|
Bodies corporate |
13.03 |
|
Directors or relatives of Directors |
27.76 |
|
Other top fifty shareholders |
54.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader Exporter and Importer of Tiles |
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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 : |
Finished goods |
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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, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
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Facilities : |
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Financial Institutions : |
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Auditors : |
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|
Name : |
R.R.S. and Associates Chartered Accountants |
|
Address : |
211, Kamal Complex, Opp. State Bank Of India, Nr. Stadium Circle, Navarangpura, Ahmedabad – 380060, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFR0472A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Cengres Tiles – Gujarat |
CAPITAL STRUCTURE
As on : 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23500000 |
Equity Shares |
Rs.10/- each |
Rs.235.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22211707 |
Equity Shares |
Rs.10/- each |
Rs.222.117
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 |
222.117 |
222.117 |
118.000 |
|
(b) Reserves & Surplus |
345.013 |
295.999 |
89.656 |
|
(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) |
567.130 |
518.116 |
207.656 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
584.744 |
505.329 |
258.661 |
|
(b) Deferred tax liabilities
(Net) |
62.221 |
52.969 |
19.449 |
|
(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) |
646.965 |
558.298 |
278.110 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
498.622 |
490.115 |
138.245 |
|
(b) Trade payables |
363.249 |
311.849 |
136.759 |
|
(c) Other current liabilities |
123.033 |
183.096 |
66.097 |
|
(d) Short-term provisions |
15.216 |
20.984 |
7.138 |
|
Total
Current Liabilities (4) |
1000.120 |
1006.044 |
348.239 |
|
|
|
|
|
|
TOTAL |
2214.215 |
2082.458 |
834.005 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1030.887 |
1002.399 |
448.060 |
|
(ii) Intangible Assets |
1.441 |
0.513 |
0.129 |
|
(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 |
5.467 |
5.592 |
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 |
4.192 |
11.626 |
1.660 |
|
Total
Non-Current Assets |
1041.987 |
1020.130 |
449.849 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
662.268 |
470.264 |
173.765 |
|
(c) Trade receivables |
352.561 |
462.116 |
151.366 |
|
(d) Cash and cash equivalents |
33.580 |
26.533 |
8.433 |
|
(e) Short-term loans and
advances |
16.494 |
6.505 |
2.226 |
|
(f) Other current assets |
107.325 |
96.910 |
48.366 |
|
Total
Current Assets |
1172.228 |
1062.328 |
384.156 |
|
|
|
|
|
|
TOTAL |
2214.215 |
2082.458 |
834.005 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operation |
1818.576 |
1716.878 |
769.378 |
|
|
Other Income |
8.082 |
15.271 |
1.527 |
|
|
TOTAL
|
1826.658 |
1732.149 |
770.905 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
550.116 |
584.890 |
219.217 |
|
|
Purchases of Stock-in-Trade |
217.655 |
8.203 |
42.985 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(165.962) |
(36.832) |
(25.020) |
|
|
Employees benefits expense |
213.810 |
198.149 |
58.857 |
|
|
Other expenses |
725.803 |
738.361 |
350.863 |
|
|
TOTAL
|
1541.422 |
1492.771 |
646.902 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
285.236 |
239.378 |
124.003 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
152.244 |
143.044 |
61.472 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
132.992 |
96.334 |
62.531 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
72.921 |
18.467 |
29.890 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
60.071 |
77.867 |
32.641 |
|
|
|
|
|
|
|
Less |
TAX |
11.057 |
4.933 |
7.317 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
49.014 |
72.934 |
25.324 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
TOTAL
EARNINGS |
38.842 |
5.744 |
0.000 |
|
|
|
|
|
|
|
|
CIF value of
imports |
63.247 |
0.000 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.21 |
3.28 |
1.14 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
2500.000 |
|
|
|
|
|
Expected Sales (2015-2016) : Rs. 3200.000 Million
The above information has been parted by Mr. Amit Patel (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 |
89.457 |
125.430 |
(51.443) |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.70 |
4.25 |
3.29 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.68 |
13.94 |
16.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.72 |
3.75 |
3.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.15 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.07 |
2.16 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.06 |
1.10 |
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 |
118.000 |
222.117 |
222.117 |
|
Reserves & Surplus |
89.656 |
295.999 |
345.013 |
|
Net
worth |
207.656 |
518.116 |
567.130 |
|
|
|
|
|
|
long-term borrowings |
258.661 |
505.329 |
584.744 |
|
Short term borrowings |
138.245 |
490.115 |
498.622 |
|
Current Maturities of
Long-Term Debts |
(51.443) |
125.430 |
89.457 |
|
Total
borrowings |
345.463 |
1120.874 |
1172.823 |
|
Debt/Equity
ratio |
1.664 |
2.163 |
2.068 |
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 |
769.378 |
1716.878 |
1818.576 |
|
|
|
123.151 |
5.923 |
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 |
769.378 |
1716.878 |
1818.576 |
|
Profit |
25.324 |
72.934 |
49.014 |
|
|
3.29% |
4.25% |
2.70% |
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 |
Yes |
|
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 |
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 |
REVIEW OF OPERATIONS:
As compared to the previous year, the turnover of the Company for the year increased from Rs. 1818.575 Million to Rs. 1716.877 Million. During the year the Company has earned Net Profit of Rs. 49.000 Million as against the Net Profit of Rs.72.900 Million in the previous year. Barring unforeseen circumstance, the Directors are hopeful to achieve better financial performance in the coming years.
FUTURE OUTLOOK
The Company has set up marketing network by appointing Dealers and Distributors in the major cities of the country and the Company has achieved better market shares. To strengthen the marketing network, the Company’s management is also putting its whole hearted efforts for advertising in Media like TV, News Papers, Magazine and also setting up to put of Company’s Hoardings in the Major Cities of the Countries. Barring unforeseen circumstance, the Directors are hopeful to achieve better financial performance in the coming years.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Term loan from others |
501.525 |
339.917 |
|
Total |
501.525 |
339.917 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10558744 |
25/03/2015 |
15,900,000.00 |
HDB FINANCIAL SERVICES LIMITED |
Radhika, 2nd Floor, Law Garden Road,, Navrangpura, Ahmedabad, Gujarat
- 380009, INDIA |
C48841035 |
|
2 |
10543580 |
30/12/2014 |
50,000,000.00 |
The Mehsana Urban Co-Operative Bank Limited |
Main Branch, Urban Bank Road, Highway, Mehsana, Gujarat - 384001,
INDIA |
C40706327 |
|
3 |
10389565 |
26/03/2013 * |
60,500,000.00 |
The Mehsana Urban Co-Operative Bank Limited |
Urban Bank Road,, Highway, Mehsana, Gujarat - 384002, INDIA |
B72638661 |
|
4 |
10389562 |
31/03/2014 * |
80,000,000.00 |
The Mehsana Urban Co.-Operative Bank Limited |
The Mehsana Urban Co.-Operative Bank Limited, Urban Bank Road, Highway,
Mehsana, Gujarat - 384001, |
C02853521 |
|
5 |
10208580 |
12/03/2012 * |
249,100,000.00 |
State Bank of India |
Industrial Finance Branch, Ahmedabad, 1st floor, |
B38816732 |
|
6 |
10141960 |
19/04/2012 * |
253,500,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRANCH, 2ND FLOOR, DENA LAXMI |
B38637872 |
|
7 |
10119736 |
17/04/2012 * |
253,500,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRANCH, 2ND FLOOR, DENA LAXMI |
B38637641 |
|
8 |
10063494 |
04/07/2008 * |
510,000,000.00 |
State Bank of India |
Corporate Finance Branch,, 58, Shrimali Society, |
A44365690 |
|
9 |
10063503 |
04/07/2008 * |
510,000,000.00 |
State Bank of India |
Corporate Finance Branch, 58, Shrimali Society, N |
A44251429 |
|
10 |
10025475 |
24/03/2011 * |
242,300,000.00 |
State Bank of India |
Industrial Finance Branch, 2nd Floor, Neptune Annexe, Ellisbridge,
Ahmedabad, Gujarat - 380006, India |
B11514635 |
CONTINGENT
LIABILITIES:
(Rs.
in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Bank guarantees |
67.300 |
0.000 |
|
Letters of credit |
110.903 |
0.000 |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Factory equipments
- 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 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.65.96 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.