|
|
|
MIRA INFORM REPORT
|
Report No. : |
502372 |
|
Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
WILSON PAPER MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No 37/1, Lilapar Road, Near G.E.B. Substation Lilapar, P.O.
Lilapar, Taluka Morbi, Rajkot-363641, Gujarat |
|
Tel. No.: |
91-2822-230158 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
18.10.2005 |
|
|
|
|
Com. Reg. No.: |
04-046934 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 12.495 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21000GJ2005PTC046934 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAACW6072F1ZG |
|
|
|
|
TIN No: |
24092004430 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW6072F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Importing, Trading and Dealing
in all types, styles and natures of Pulp, Board, Papers Etc. (Registered
activity and also confirmed by management) |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2005 and it is having
satisfactory track. For the financial year 2017, the company has achieved healthy revenue
from its operation as compared to previous year and maintained average profit
margin of 1.52%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base and average debt balance sheet. Further, rating also reflects company’s long standing track records
along with improvement in the profitability profile during the year. However, rating strength is partially offset by intense competition
from industry. Trade relations are reported as fair. Business is active. Payments are
seems to be usually correct. In view of the 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 05.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Girishkumar Chaturbhai Detroja |
|
Designation : |
Director |
|
Contact No.: |
91-9825192025 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No 37/1, Lilapar Road, Near G.E.B. Substation Lilapar, P.O.
Lilapar, Taluka Morbi, Rajkot-363641, Gujarat, India |
|
Tel. No.: |
91-2822-230158 |
|
Mobile No.: |
91-9825192025 (Mr. Girishkumar Chaturbhai Detroja) 91-9825025444 (Mr. Baldevbhai Devjibhai Nayakpara) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Baldevbhai Devjibhai Nayakpara |
|
Designation : |
Director |
|
Address : |
69-B, Madhuram Society, Beside Ramco Bunglow, Kenal Road, Morbi Mdg., Morbi, Rajkot-363641, Gujarat, India |
|
Date of Birth/Age : |
30.08.1972 |
|
Date of Appointment : |
18.10.2005 |
|
DIN No: |
00429667 |
|
|
|
|
Name : |
Mr. Chunilal Vanjibhai Kachrola |
|
Designation : |
Director |
|
Address : |
Ramji Mandir Wali Main Street, Taluka Halvad, Ishwar Nagar, District Surendranagar-363633, Gujarat, India |
|
Date of Birth/Age : |
14.11.1969 |
|
Date of Appointment : |
18.10.2005 |
|
DIN No: |
00430183 |
|
|
|
|
Name : |
Mr. Dinesh Mohanbhai Kathrani |
|
Designation : |
Director |
|
Address : |
12, Parshwa Complex, Sardar Road, Morbi, District Rajkot-363641, Gujarat, India |
|
Date of Birth/Age : |
06.06.1967 |
|
Date of Appointment : |
18.10.2005 |
|
DIN No: |
00430267 |
|
|
|
|
Name : |
Mr. Girishkumar Chaturbhai Detroja |
|
Designation : |
Director |
|
Address : |
Arjun, Next To Avenue Park, Ravapar Road, Morbi Mdg., Morvi, Rajkot-363641, Gujarat, India |
|
Date of Birth/Age : |
13.04.1969 |
|
Date of Appointment : |
18.10.2005 |
|
DIN No: |
00430300 |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Girishkumar Chaturbhai Detroja |
|
138825 |
|
Chunilal Vanjibhai Kachrola |
|
78075 |
|
Baldevbhai Devjibhai Nayakpara |
|
65000 |
|
Dineshbhai Mohanbhai Kathrani |
|
60000 |
|
Chaturbhai Harakhjibhai |
|
134325 |
|
Maheshbhai Chaturbhai |
|
139225 |
|
Anilbhai Kathrani |
|
65000 |
|
Nitinbhai M. Kathrani |
|
77500 |
|
Vatsal P. Upadhyay |
|
25000 |
|
Narendra Devjibhai |
|
30000 |
|
Ranchhodbhai V. Patel |
|
96800 |
|
Devjibhai Mohanbhai |
|
37500 |
|
Vasantaben Baldevbhai |
|
30000 |
|
Bharat D. Nayakpara |
|
47600 |
|
Ilaben Dineshbhai Kathrani |
|
34875 |
|
Vipulbhai J. Patel |
|
25000 |
|
Jaysukh P. Patel |
|
62500 |
|
Pratiksha P. Upadhyay |
|
25000 |
|
Ilaben Nileshbhai Nayakpara |
|
27275 |
|
Manharbhai Parshotambhai |
|
50000 |
|
Total |
|
1249500 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturing, Importing, Trading and Dealing
in all types, styles and natures of Pulp, Board, Papers Etc. (Registered activity
and also confirmed by management) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
|
||||
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Products : |
Raw Material |
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Countries : |
Dubai |
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Terms : |
|
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Selling : |
Cash, L/C and Credit (30/60 Days) |
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|
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Purchasing : |
Cash, L/C and Credit (30/60 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
V. N. Sitapara and Associates Chartered Accountants |
|
Address : |
202, Ram Chowk, Savsar Plot Main Road, Morbi, Rajkot – 363641,
Gujarat, India |
|
Tel. No.: |
91-2822-223996 |
|
Income-tax
PAN of auditor or auditor's firm : |
ATHPS0479F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
INR 10/- each |
INR 12.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1249500 |
Equity Shares |
INR 10/- each |
INR 12.495 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
12.495 |
12.495 |
12.495 |
|
(b) Reserves & Surplus |
27.889 |
23.889 |
20.447 |
|
(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) |
40.384 |
36.384 |
32.942 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
41.200 |
38.285 |
35.455 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.175 |
0.432 |
|
(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) |
41.200 |
38.460 |
35.887 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
18.710 |
18.005 |
19.961 |
|
(b) Trade
payables |
52.287 |
48.329 |
58.913 |
|
(c) Other
current liabilities |
3.623 |
3.658 |
4.425 |
|
(d) Short-term
provisions |
2.200 |
1.900 |
4.700 |
|
Total Current
Liabilities (4) |
76.820 |
71.892 |
87.999 |
|
|
|
|
|
|
TOTAL |
158.404 |
146.736 |
156.828 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
31.308 |
21.823 |
25.032 |
|
(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 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.790 |
8.027 |
8.027 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
40.098 |
29.850 |
33.059 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
24.974 |
33.041 |
30.094 |
|
(c) Trade
receivables |
80.945 |
76.426 |
81.828 |
|
(d) Cash
and cash equivalents |
6.894 |
2.485 |
5.620 |
|
(e)
Short-term loans and advances |
5.493 |
4.934 |
6.227 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
118.306 |
116.886 |
123.769 |
|
|
|
|
|
|
TOTAL |
158.404 |
146.736 |
156.828 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
263.347 |
264.462 |
305.348 |
|
|
Other Income |
0.305 |
0.361 |
10.170 |
|
|
TOTAL |
263.652 |
264.823 |
315.518 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
181.646 |
184.350 |
217.407 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.197 |
(1.362) |
0.310 |
|
|
Employees benefits
expense |
6.226 |
5.712 |
5.650 |
|
|
Other expenses |
58.085 |
62.557 |
69.525 |
|
|
TOTAL |
247.154 |
251.257 |
292.892 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
16.498 |
13.566 |
22.626 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
6.709 |
4.348 |
5.407 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
9.789 |
9.218 |
17.219 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
3.841 |
4.195 |
3.222 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
5.948 |
5.023 |
13.997 |
|
|
|
|
|
|
|
Less |
TAX |
1.948 |
1.581 |
4.667 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4.000 |
3.442 |
9.330 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.2 |
2.75 |
7.47 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
2.559 |
2.548 |
3.140 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
17.219 |
2.320 |
(4.338) |
|
Net cash flows from (used in) operating activity |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
112.19 |
105.48 |
97.81 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.25 |
3.46 |
3.73 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
105.07 |
95.69 |
98.91 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.66 |
0.41 |
0.75 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.53 |
0.62 |
0.90 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.76 |
0.77 |
0.81 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.55 |
1.62 |
1.78 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.90 |
1.98 |
2.67 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.78 |
0.60 |
0.76 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.46 |
3.12 |
4.18 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.52 |
1.30 |
3.06 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.53 |
2.35 |
5.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.90 |
9.46 |
28.32 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.54 |
1.63 |
1.41 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
1.21 |
1.17 |
1.06 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.25 |
0.25 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.00 |
4.71 |
4.69 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.54 |
1.63 |
1.41 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
12.495 |
12.495 |
12.495 |
|
Reserves & Surplus |
20.447 |
23.889 |
27.889 |
|
Net
worth |
32.942 |
36.384 |
40.384 |
|
|
|
|
|
|
long-term borrowings |
35.455 |
38.285 |
41.200 |
|
Short term borrowings |
19.961 |
18.005 |
18.710 |
|
Current maturities of
long-term debts |
3.140 |
2.548 |
2.559 |
|
Total
borrowings |
58.556 |
58.838 |
62.469 |
|
Debt/Equity
ratio |
1.778 |
1.617 |
1.547 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
305.348 |
264.462 |
263.347 |
|
|
|
(13.390) |
(0.422) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
305.348 |
264.462 |
263.347 |
|
Profit /(Loss) |
9.330 |
3.442 |
4.000 |
|
|
3.06% |
1.30% |
1.52% |
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 |
No |
|
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 two/ 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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
Yes |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANNY WORKING DURING THE YEAR
During the year, the company reported net income from operations of INR 263.347 million which is lower than last year income from operation of INR 264.462 million. The net profit after tax reported for the year is of INR 4.000 million against last year profit of INR 3.442 million.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Baldevbhai Devjibhai Nayakpara |
1.387 |
1.251 |
|
Dineshbhai Mohanbhai Kathrani |
2.280 |
2.058 |
|
Girishkumar Chaturbhai Detroja |
0.749 |
0.676 |
|
From Shareholder
and Relatives |
36.176 |
32.599 |
|
Total |
40.592 |
36.584 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G47707146 |
10248912 |
Union Bank of India |
01/11/2010 |
25/05/2017 |
- |
30000000.0 |
MORVI BRACNH, NIRMAL NAGAR, SHUBHASH ROAD, MORBI-363641, GUJARAT, INDIA |
|
2 |
A98864929 |
80059231 |
STATE BANK OF SAURASHTRA |
17/03/2006 |
- |
06/11/2010 |
30000000.0 |
NEAR TRIKON BAUG, MORBI-363641, GUJARAT, INDIA |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Electrical
Installation
- Office
Equipment
- Motor
Car
- Moto Cycle
- Motor Car
Swift
- Computer
- Plant and
Machinery
- Vehicle
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 79.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.