MIRA INFORM REPORT
|
Report No. : |
343044 |
|
Report Date : |
29.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
DELVAL FLOW CONTROLS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
BORDELON CONTROLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8, Dhanashree Apartments, Survey No 1333/1-2 Off |
|
Tel. No.: |
91-9881378240 (Mr. Shivaji) / 91-9909953157 (Mr. Divyang) |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
20.10.2005 |
|
|
|
|
Com. Reg. No.: |
11-021445 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.151.140 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2005PTC021445 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in the business of designing,
manufacturing, Importing Exporting and Providing after sales services of
valves and actuators |
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|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. For the financial year ended 2014, the company has incurred some
losses, however it has maintain sales turnover with satisfactory operational
activity. The company has healthy financial base, stable working capital cycle
and adequate debt protection metrics along with favourable gap between trade
payables and receivables. Trade relations are fair. Business is active. Payments are slow but
correct. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-term Bank Facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
July 24, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-term Bank Facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
July 24, 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. Divang Rajput |
|
Designation : |
Marketing Sales Manager |
|
Contact No.: |
91-9909953157 |
|
Date : |
28.09.2015 |
|
Name : |
Mr. Shivaji Tathe |
|
Designation : |
Manager |
|
Contact No.: |
91-9881378240 |
|
Date : |
28.09.2015 |
LOCATIONS
|
Registered Office : |
8, Dhanashree Apartments, Survey No 1333/1-2 Off |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9881378240 (Mr. Shivaji) / 91-9909953157 (Mr. Divyang) |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Area : |
800 sq. ft. |
|
Location : |
Owned |
|
Locality : |
Residential |
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|
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|
Factory : |
Gat No.25, 37, 43/1A, At- Kawathe, Post – Tawale, Tal – Khandala, Dist
– Satara – 412801, India |
|
Tel. No.: |
91-2169-2412851 |
|
Fax No.: |
91-2619-241288 |
|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
As on 21.07.2014
|
Name : |
Mr. Arun Manjunath Shiroor |
|
Designation : |
Director |
|
Address : |
8, Dhanashree Apartments, |
|
Date of Birth/Age : |
18.09.1956 |
|
Date of Appointment : |
20.10.2005 |
|
DIN No.: |
00336005 |
|
|
|
|
Name : |
Mr. Leonard Jude Bordelon |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
07.02.1939 |
|
Date of Appointment : |
20.10.2005 |
|
DIN No.: |
01769849 |
|
|
|
|
Name : |
Mr. Himanshu Vaman Kulkarni |
|
Designation : |
Director |
|
Address : |
Savali |
|
Date of Birth/Age : |
22.10.1942 |
|
Date of Appointment : |
25.01.2006 |
|
DIN No.: |
00336254 |
|
|
|
|
Name : |
Ms. Amita Arun Shiroor |
|
Designation : |
Director |
|
Address : |
8, Dhanashree Apartments, |
|
Date of Birth/Age : |
08.12.1959 |
|
Date of Appointment : |
01.12.2005 |
|
DIN No.: |
00336335 |
|
|
|
|
Name : |
Mr. Dharmesh Vishindas Mangwani |
|
Designation : |
Director |
|
Address : |
242, Sindh Housing Society, Aundh, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
16.04.1963 |
|
Date of Appointment : |
25.03.2013 |
|
DIN No.: |
01769849 |
|
|
|
|
Name : |
Mr. Charles Ray Lee JR |
|
Designation : |
Director |
|
Address : |
11022 Shoreline Dr. Baton Rougela 70809-0000, Baton Rouge - 70809, United States of America |
|
Date of Appointment : |
20.08.2014 |
|
DIN No.: |
06939274 |
KEY EXECUTIVES
|
Name : |
Mr. Divang Rajput |
|
Designation : |
Marketing Sales Manager |
|
|
|
|
Name : |
Mr. Shivaji Tathe |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Shiroor Manjunath Arun |
|
6244896 |
|
Bordelon Lee Leonard |
|
12188 |
|
Deltech Controls LLC - |
|
6354708 |
|
Shiroor Arun Amita |
|
122000 |
|
VEE Kay Infin and Holdings Private Limited |
|
1427715 |
|
Kulkarni Subhash Amit |
|
115645 |
|
Total |
|
14277152 |
As on 19.01.2015
|
Names of Allottees |
|
No. of Shares |
|
VEE Kay Infin and Holdings Private Limited |
|
836891 |
Equity Share Break up (Percentage of Total Equity)
As on 21.07.2014
|
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 |
44.60 |
|
Bodies corporate |
9.99 |
|
Directors or relatives of Directors |
44.60 |
|
Other top fifty shareholders |
0.81 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of designing,
manufacturing, Importing Exporting and Providing after sales services of
valves and actuators |
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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 : |
Ball Valves, valve Automation |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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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
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Kalyaniwalla and Mistry Chartered Accountant |
|
Address : |
Kalpataru Heritage, 127 Mahatma Gandhi Road, Mumbai - 400023, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK7554R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
Deltech Controls, United States |
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|
|
Joint Venture : |
Deltech Controls Rus, Russian Federation |
CAPITAL STRUCTURE
After As on 21.07.2014
Authorised Capital : Rs. 167.500
Million
Issued, Subscribed & Paid-up Capital : Rs. 151.140 Million
As on 21.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14400000 |
Equity Shares |
Rs.10/- each |
Rs.144.000 Million |
|
250000 |
Preference Shares |
Rs.10/- each |
Rs.2.500 Million |
|
|
Total |
|
Rs.146.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14277152 |
Equity Shares |
Rs.10/- each |
Rs.142.771
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 |
142.771 |
142.771 |
119.703 |
|
(b) Reserves & Surplus |
63.524 |
96.211 |
50.966 |
|
(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) |
206.295 |
238.982 |
170.669 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
69.400 |
41.063 |
29.185 |
|
(b) Deferred tax liabilities
(Net) |
1.901 |
7.752 |
5.663 |
|
(c) Other long term
liabilities |
3.326 |
3.065 |
1.093 |
|
(d) long-term provisions |
1.347 |
0.967 |
0.631 |
|
Total
Non-current Liabilities (3) |
75.974 |
52.847 |
36.572 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
119.058 |
158.508 |
160.169 |
|
(b) Trade payables |
63.658 |
150.519 |
138.446 |
|
(c) Other current liabilities |
38.598 |
53.512 |
42.446 |
|
(d) Short-term provisions |
1.578 |
25.975 |
18.528 |
|
Total
Current Liabilities (4) |
222.892 |
388.514 |
359.589 |
|
|
|
|
|
|
TOTAL |
505.161 |
680.343 |
566.830 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
208.211 |
227.321 |
100.148 |
|
(ii) Intangible Assets |
0.829 |
0.824 |
2.078 |
|
(iii) Capital work-in-progress |
0.643 |
0.031 |
54.497 |
|
(iv) Intangible assets under
development |
14.399 |
13.911 |
11.540 |
|
(b) Non-current Investments |
0.000 |
0.012 |
0.012 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.913 |
1.353 |
1.026 |
|
(e) Other Non-current assets |
0.000 |
1.484 |
0.000 |
|
Total
Non-Current Assets |
224.995 |
244.936 |
169.301 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.012 |
0.000 |
0.000 |
|
(b) Inventories |
103.087 |
122.485 |
150.074 |
|
(c) Trade receivables |
132.495 |
249.878 |
198.522 |
|
(d) Cash and cash equivalents |
14.651 |
15.304 |
14.620 |
|
(e) Short-term loans and
advances |
29.365 |
47.168 |
34.047 |
|
(f) Other current assets |
0.556 |
0.572 |
0.266 |
|
Total
Current Assets |
280.166 |
435.407 |
397.529 |
|
|
|
|
|
|
TOTAL |
505.161 |
680.343 |
566.830 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
TOTAL INCOME |
382.822 |
643.585 |
618.235 |
|
|
|
|
|
|
|
Less |
TOTAL
OPERATING EXPENSES |
373.330 |
548.268 |
533.699 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
9.492 |
95.317 |
84.536 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
30.089 |
33.853 |
26.944 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(20.597) |
61.464 |
57.592 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
17.456 |
16.958 |
13.917 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(38.053) |
44.506 |
43.675 |
|
|
|
|
|
|
|
Less |
TAX |
(5.366) |
15.973 |
14.266 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(32.687) |
28.533 |
29.409 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
74.262 |
49.466 |
25.052 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.725 |
0.750 |
|
|
Preference Dividend |
0.000 |
0.262 |
0.000 |
|
|
Proposed Dividend on
preference shares |
0.000 |
2.314 |
3.653 |
|
|
Tax on Dividend |
0.000 |
0.436 |
0.592 |
|
|
Total
(M) |
0.000 |
3.737 |
4.995 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
41.575 |
74.262 |
49.466 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
125.026 |
316.951 |
170.104 |
|
|
Gain on foreign Exchange (net) |
0.000 |
5.218 |
7.213 |
|
|
TOTAL
EARNINGS |
125.026 |
322.169 |
177.317 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
-2.29 |
2.5 |
-- |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
570.000 |
|
|
|
|
|
Expected Sales (2015-2016) : Rs.800.000 Million
The above information has been parted by Mr. Shivaji Tathe (Manager)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
21.461 |
15.449 |
12.349 |
|
Cash generated from operations |
61.407 |
77.029 |
NA |
|
Net cash flow from operating activity |
37.131 |
71.917 |
29.942 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(8.54) |
4.43 |
4.76 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.48 |
14.81 |
13.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.76) |
6.68 |
8.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18) |
0.19 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.02 |
0.90 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.12 |
1.11 |
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 |
119.703 |
142.771 |
142.771 |
|
Reserves & Surplus |
50.966 |
96.211 |
63.524 |
|
Net
worth |
170.669 |
238.982 |
206.295 |
|
|
|
|
|
|
long-term borrowings |
29.185 |
41.063 |
69.400 |
|
Short term borrowings |
160.169 |
158.508 |
119.058 |
|
Current Maturities of
Long-Term Debts |
12.349 |
15.449 |
21.461 |
|
Total
borrowings |
201.703 |
215.020 |
209.919 |
|
Debt/Equity
ratio |
1.182 |
0.900 |
1.018 |
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 |
618.235 |
643.585 |
382.822 |
|
|
|
4.100 |
(40.517) |
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 |
618.235 |
643.585 |
382.822 |
|
Profit |
29.409 |
28.533 |
(32.687) |
|
|
4.76% |
4.43% |
(8.54%) |
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 |
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 |
FINANCIAL HIGHLIGHTS:
Net revenue from operation for the current year is Rs. 364.136 Million as compared to Rs. 631.994 Million in the previous year showing a fall of 42%. The Company has incurred a loss of Rs. 38.054 Million as compared to Profit before tax for the previous year of Rs. 44.505 Million. Net Loss for the current year is Rs. 32.687 Million as compared to profits for the previous year of Rs. 28.533 Million. The overall recessionary trends prevailing in industry has affected the Company’s performance. The Company had to pay additional tax of Rs. 0.484 Million on account of short provisions in the previous year.
General Information
Delval Flow Controls Private Limited (the Company) is engaged in the business of designing, manufacturing and providing after sales services of valves and actuators. The Company was incorporated on October 20, 2005.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
0.558 |
1.551 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
2.589 |
1.187 |
|
Term loans from others |
0.000 |
2.928 |
|
Loans and advances from related parties |
4.646 |
5.573 |
|
Total |
7.793 |
11.239 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10571811 |
31/03/2015 |
590,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C54869128 |
|
2 |
10571813 |
31/03/2015 |
590,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C54869987 |
|
3 |
10343903 |
15/03/2012 |
2,932,000.00 |
State Bank of India |
Commercial Branch, 1548/A, Tilak Road, Sadashiv Peth, Pune, Maharashtra
- 411030, INDIA |
B35707462 |
|
4 |
10260155 |
18/12/2010 |
1,225,000.00 |
State Bank of India |
Commercial Branch,1548/A, Sadashiv Peth, Tilak Road, Pune, Maharashtra
- 411030, INDIA |
B03282969 |
|
5 |
10214835 |
02/01/2014 * |
301,600,000.00 |
State Bank of India Commercial Branch |
1548/ A Off Tilak Road, Sadashiv Peth, Pune, Maharashtra - 411030,
INDIA |
B94121639 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Claims against company not acknowledged as debt |
1.524 |
1.524 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer 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.66.08 |
|
|
1 |
Rs.100.31 |
|
Euro |
1 |
Rs.73.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
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 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
|
43 |
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.