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|
MIRA INFORM REPORT
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Report No. : |
506167 |
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Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
INTERNAATIONAL STONES INDIA PRIVATE LIMITED |
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Registered
Office : |
No. 3063, 6th Floor, Tower-3, Prestige Nottinghill, Kalena
Agrahara Village, Begur Hobli, Bannerghatta Road, Bangalore – 560076,
Karnataka |
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Tel. No.: |
91-4344-4260681 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
29.10.2003 |
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Com. Reg. No.: |
08-032797 |
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Capital
Investment / Paid-up Capital : |
INR 100.000 Million |
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CIN No.: [Company Identification
No.] |
U14102KA2003PTC032797 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
29AABCI1821R1Z7 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCI1821R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The main Objects of the company are to Manufacture and Export of all kinds of Natural Stone Products such as Granite, Marbles, Slate and Stand Stones, Mosaic and undertaking Granite project exports. (Registered Activity) |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 2042000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2003 and it is an manufacture and export of all kinds of natural stone products such as granite, marbles, slate and stand stones, mosaic. As per financials of March 2017, the company has registered a marginal growth in its revenue and has reported decent profit margin. Rating takes into consideration the company’s satisfactory track record of business operations marked by sound net worth base along with comfortable debt coverage indicators and decent liquidity position. Further, the company has reported earnings per share of INR 94.78 against its face value of INR 100. Payments seems to be regular. 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
|
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 |
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Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB (Issuer non-cooperative) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
23.03.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ (Issuer non-cooperative) |
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Rating Explanation |
Minimal degree of safety and very high credit risk |
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Date |
23.03.2018 |
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
31-03-2018.
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 27.04.2018
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 DENIED
Management
non-cooperative (Tel No.:91-4344-260681)
LOCATIONS
|
Registered Office : |
No. 3063, 6th Floor, Tower-3, Prestige Nottinghill, Kalena
Agrahara Village, Begur Hobli, Bannerghatta Road, Bangalore – 560076,
Karnataka, India |
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Tel. No.: |
91-4344-260681 |
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Fax No.: |
91-4344-260681 |
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E-Mail : |
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Works : |
Plot No.E5, SIPCOT Industrial Complex, Phase II, Expansion 1, Hosur, Krishnanagar - 635109, Tamilnadu 635109 |
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Tel. No.: |
91-4344-260672/395909 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rakesh Sharma |
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Designation : |
Managing Director |
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Address : |
605, Delphi-2, Prestige Acropolis No. 20, Hosur Road, Bangalore – 560029, Karnataka, India |
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Date of Birth/Age : |
01.06.1958 |
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Qualification : |
Graduation |
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Date of Appointment : |
27.02.2013 |
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PAN No.: |
ABFPS3458N |
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DIN No.: |
01295364 |
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Other Directorship:
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Name : |
Mrs. Rajni Sharma |
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Designation : |
Director |
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Address : |
D-2/2291 Vasanth Kunj, New Delhi – 110070, India |
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Date of Birth/Age : |
29.07.1962 |
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Qualification : |
Graduation |
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Date of Appointment : |
27.11.2003 |
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PAN No.: |
ACXPS6488B |
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DIN No.: |
01304633 |
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Other Directorship:
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Name : |
Mr. Arun N Bellary |
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Designation : |
Director |
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Address : |
803, Sparta II 20, Prestige Acropolis, Hosur Road, Kora Mangala Bangalore -560029, Karnataka, India |
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Date of Appointment : |
31.08.2017 |
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DIN No.: |
01917308 |
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Other Directorship:
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Rakesh Sharma |
983320 |
98.33 |
|
Rajni Sharma |
16680 |
1.67 |
|
Total |
1000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The main Objects of the company are to Manufacture and Export of all kinds of Natural Stone Products such as Granite, Marbles, Slate and Stand Stones, Mosaic and undertaking Granite project exports. (Registered Activity) |
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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 : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Cuddapah Ramesh and Company Chartered Accountants |
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Address : |
No 23, Anand, 2nd Floor, Hare Krishna Road, Near Shivananda Circle , Bangalore-560001, Karnataka, India |
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PAN No.: |
AAPPR7935J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
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CAPITAL STRUCTURE
AS ON 23.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
INR 100/- each |
INR 100.000 Million |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
INR 100/- each |
INR 100.000 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
614.744 |
589.489 |
566.624 |
|
(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) |
714.744 |
689.489 |
666.624 |
|
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||
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(3) Non-Current Liabilities |
|
||
|
(a) long-term borrowings |
441.336 |
439.067 |
502.067 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
441.336 |
439.067 |
502.067 |
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||
|
(4) Current Liabilities |
|
||
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
117.236 |
97.614 |
69.188 |
|
(c) Other current liabilities |
21.184 |
21.637 |
23.006 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
138.420 |
119.251 |
92.194 |
|
|
|
||
|
TOTAL |
1294.500 |
1247.807 |
1260.885 |
|
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|
II.
ASSETS |
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||
|
(1) Non-current assets |
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||
|
(a) Fixed Assets |
|
||
|
(i) Tangible assets |
100.950 |
112.100 |
137.118 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
97.167 |
78.108 |
72.865 |
|
(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) |
33.004 |
32.606 |
31.349 |
|
(d) Long-term Loan and Advances |
11.554 |
8.017 |
7.036 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
242.675 |
230.831 |
248.368 |
|
|
|
||
|
(2) Current assets |
|
||
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
321.370 |
385.560 |
393.682 |
|
(c) Trade receivables |
516.601 |
440.701 |
450.616 |
|
(d) Cash and cash equivalents |
30.570 |
31.113 |
32.174 |
|
(e) Short-term loans and
advances |
183.284 |
159.602 |
136.045 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1051.825 |
1016.976 |
1012.517 |
|
|
|
||
|
TOTAL |
1294.500 |
1247.807 |
1260.885 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1129.404 |
1100.718 |
1076.784 |
|
|
Other Income |
41.160 |
44.917 |
3.837 |
|
|
TOTAL
|
1170.564 |
1145.635 |
1080.621 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
710.515 |
722.769 |
729.109 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(34.766) |
(1.054) |
(88.238) |
|
|
Employee benefit expense |
55.564 |
47.980 |
42.681 |
|
|
Other expenses |
258.171 |
262.659 |
278.854 |
|
|
Prior period items before tax |
0.200 |
0.591 |
0.252 |
|
|
TOTAL |
989.684 |
1032.945 |
962.658 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
180.880 |
112.690 |
117.963 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
50.491 |
51.635 |
50.312 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
130.389 |
61.055 |
67.651 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
20.857 |
26.164 |
38.189 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
109.532 |
34.891 |
29.462 |
|
|
|
|
|
|
|
Less |
TAX |
14.745 |
10.744 |
9.246 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
94.787 |
24.147 |
20.216 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
136.600 |
144.500 |
193.900 |
|
|
Travelling Expenses, Commission and others |
8.800 |
11.700 |
24.200 |
|
|
TOTAL
IMPORTS |
145.400 |
156.200 |
218.100 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
94.78 |
24.14 |
20.21 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
160.751 |
131.465 |
29.462 |
|
Net cash flows from (used in) operating activities |
174.551 |
142.873 |
18.554 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
166.95 |
146.14 |
152.75 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
2.19 |
2.50 |
2.39 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
60.23 |
49.30 |
34.64 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.56 |
0.29 |
0.30 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.91 |
0.59 |
0.56 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.45 |
0.45 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.62 |
0.64 |
0.75 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.19 |
0.17 |
0.14 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.28 |
0.28 |
0.31 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.58 |
2.18 |
2.34 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
8.39 |
2.19 |
1.88 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
7.32 |
1.94 |
1.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
13.26 |
3.50 |
3.03 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
7.60 |
8.53 |
10.98 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
5.28 |
5.29 |
6.71 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.55 |
0.55 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.41 |
4.39 |
5.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
7.60 |
8.53 |
10.98 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
566.624 |
589.489 |
614.744 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
666.624 |
689.489 |
714.744 |
|
|
|
|
|
|
Long-term borrowings |
502.067 |
439.067 |
441.336 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
502.067 |
439.067 |
441.336 |
|
Debt/Equity
ratio |
0.753 |
0.637 |
0.617 |
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 |
1076.784 |
1100.718 |
1129.404 |
|
|
|
2.223 |
2.606 |
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 |
1076.784 |
1100.718 |
1129.404 |
|
Profit/ (Loss) |
20.216 |
24.147 |
94.787 |
|
|
1.88
% |
2.19
% |
8.39
% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY BACK GROUND
The company was started as a Private Limited company (100% EOU) on 29.10.2003 with certificate of incorporation issued by Registrar of Companies in the state of Karnataka with Incorporate of Certificate No. CIN NO.U14102KA2003PTC032797. The main Objects of the company are to Manufacture and export of all kinds of Natural Stone Products such as Granite, Marbles, Slate and Stand Stones, Mosaic and undertaking Granite project exports.
BUSINESS PERFORMANCE:
During the year, the Company has achieved total Revenue of INR 1170.600 million as against total Revenue of INR 1145.600 million Achieved during the previous year 2015 -16.
There is a marginal increase in the export business operations of the Company, in-spite continued slow down in the international export market for granite products and various economic reasons like shortage of raw materials and difficulties in renewing quarry licenses due to stricter environmental laws. Further the granite and marble section faced several restrictions from the Central and State Governments. As compared to previous years in the international market, the export market for natural stone products is slowly stabilizing in the current financial year.
The Granite processing Industry faced several teething problems such as steep increase in the cost of Raw Materials (Granite Rough Blocks) coupled with increase in the royalty costs and shortage of defect free quality granite blocks suitable for export market. Further, there is stiff competition from Brazil and China, who are offering Price reduction on granite and marble products in the international export market to increase their share.
The Plant and Machineries installed in the factory are already old by more than thirteen years and to achieve optimum production, the maintenance expenses have increased. Due to various problems faced by the suppliers of raw materials to the company on account of government\ policies, the company has been forced to make huge advance payments to suppliers to get assurance of regular supplies from them of good quality granite blocks.
The Company needs to import additional machineries to offset the production losses due to breakdown of old machineries and the efforts made by the Company management to import new machineries was stalled by the action taken by one of the Director before the Hon’ble Company Law Board, Chennai Bench, Chennai and the same has been resolved and amicably settled by directors of the company with their best efforts.
Since all the family partition disputes raised by the legal heirs of deceased Director Mr. Rajeev Lochan, have been amicably resolved, the company is now in a position take every steps to go ahead with its expansion plans and commence commercial operations in the financial year 2017-18 with imported machineries to enhance production and with increase in granite project exports.
Despite all several problems faced by the Company, its management and its production and marketing team have put their efforts to achieve a reasonable export sales turnover for the year under review with marginal improvements in profitability.
The Company is taking all necessary steps to ensure that for the next financial year 2017-18, together with its planned course of action to improve its exports and margin of profits and market base. The management hopes that in coming year, it will mobilize all its resources to reduce input costs and expenses and achieve desired results, so as to improve the profitability of the Company.
OUTLOOK:
The Company, as a strategy, is now focusing on the USA and Europe, Asian and Gulf countries market for Natural Stone products to improve the profit margins. The Company has adopted various innovative methods to attract new customers and participating in several international exhibitions such as “COVERINGS, USA,” “VERONA, ITALY, EUROPE” and “STONA in India” and several other exhibitions in China, Brazil, Turkey etc., for natural stone products and meeting its worldwide customers in order to render best services to the customers and to retain them permanently with the company, in-spite of stiff competition from China, Brazil and other Indian manufacturers. The company is undertaking several new orders for “ total project supply” of natural stone product (more value added products) requirements across USA, Europe & other Gulf Countries, with commitment for timely supplies.
Company has identified several new permanent sources for supply of very good quality granite rough blocks of new colors and shades which is accepted in the international export market and this will boost the company’s production and exports in the ensuing financial years on a long term. The Company’s team of skilled professionals and workers are fully equipped and capable of meeting the challenges in this direction.
The Company has been sanctioned license to undertake manufacturing/processing of Marble Slabs in its 100% EOU situated at Hosur by the Development Commissioner, Madras Export Processing Zone, Ministry of Commerce & Industry, Government of India.
UNSECURED LOANS:
|
Unsecured Loan |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Other loans and advance |
1.473 |
1.427 |
|
Total |
1.473 |
1.427 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G44303345 |
90198386 |
State Bank of India |
29/12/2003 |
07/04/2017 |
- |
545000000.0 |
INDUSTRIAL FINANCE BRANCH, NO.61,''RESIDENCY PLAZA'' RESIDENCY ROAD, BANGALORE – 560025, MAHARASHTRA INDIA |
|
2 |
G24494536 |
10406405 |
HDFC BANK LIMITED |
01/02/2013 |
- |
10/11/2016 |
1020000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
3 |
G24496127 |
10404927 |
HDFC BANK LIMITED |
26/12/2012 |
- |
10/11/2016 |
2780000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
4 |
G24495384 |
10406909 |
HDFC BANK LIMITED |
02/01/2013 |
- |
01/11/2016 |
9550000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
Vehicles
· Factory equipments
· Ships vessels
· Motor vehicles
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
|
INR |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.