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MIRA INFORM REPORT
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Report No. : |
489791 |
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Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
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Name : |
ELMEX ELECTRIC PRIVATE LIMITED (w. e. f. 21.09.2012) |
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Formerly Known
As : |
ECONIX HI-TECH COMPONENTS LIMITED (w.e.f 31.07.1992) ECONIX HI-TECH COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
12, GIDC Estate, Makarpura Road, Vadodara - 390010, Gujarat |
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Tel. No.: |
91-265-2642021 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
31.07.1992 |
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Com. Reg. No.: |
04-018091 |
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Capital
Investment / Paid-up Capital : |
INR 9.500 Million |
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CIN No.: [Company Identification
No.] |
U31100GJ1992PTC018091 |
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IEC No.: |
Not Divulged |
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GST No.: |
24AAACE4966E1ZT |
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TIN No.: |
24191700131 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACE4966E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· Manufacturer and Exporter of Terminal Blocks. [Confirmed by Management] · Manufacturing and Selling of Din Rail Mounted Terminals and Interface Modules. [Registered Activity] |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Elmex Electric Private Limited was incorporated in the year 1992. It is a manufacturer and exporter of Terminal Blocks. For the financial year 2017, the company has achieved 10.91% growth in its revenue as compared to previous year revenue and has maintained average profit margin of 3.52%. The sound financial profile of the company is marked by adequate networth base along with negligible debt level. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 05.02.2018.
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 : |
Ms. Divya |
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Designation : |
Office Executive |
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Contact No.: |
91-265-2642021 |
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Date : |
03.02.2018 |
LOCATIONS
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Registered/ Head Office : |
12, GIDC Estate, Makarpura Road, Vadodara - 390010, Gujarat, India |
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Tel. No.: |
91-265-2642021/ 123 |
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Mobile No.: |
91-9374631319 (Mr. Varun Parmar) |
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Fax No.: |
91-265-2638646 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Industrial |
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Factory : |
135 / 136, Plot Ramangamdi,
Vadodara-390010, Gujarat, India
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Regional Offices : |
Located at: · Gujarat · Andhra Pradesh · New Delhi · Haryana · Karnataka · Jharkhand · Maharashtra · Madhya Pradesh · Orissa · Punjab · West Bengal · Tamilnadu · Rajasthan · Chhattisgarh |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Shashikant Janardan Joshi |
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Designation : |
Director |
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Address: |
E-203, Kunj-Resi-Cum-Plaza, Palace Road, Near Polo Club, Vadodara-390001, Gujarat, India |
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Date of Appointment : |
06.06.2000 |
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DIN No.: |
00183177 |
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Name : |
Mr. Jayantilal Dhanjibhai Ray |
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Designation : |
Director |
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Address: |
3, Shantivan Society, Makarpura Road, Vadodara-390010, Gujarat, India |
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Date of Appointment : |
30.09.2005 |
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DIN No.: |
00183255 |
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Name : |
Mrs. Manjulaben Jayantilal Ray |
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Designation : |
Director |
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Address: |
3, Shantivan Society, B/H. Susen Tex. Makarpura, Vadodara-390010, Gujarat, India |
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Date of Appointment : |
10.06.2008 |
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DIN No.: |
00183384 |
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Name : |
Mr. Amarnath Laxminath Shastri |
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Designation : |
Director |
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Address: |
4, Shreeji Nagar, Vasna Road, J.P. Road, Vadodara-390015, Gujarat, India |
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Date of Appointment : |
30.09.2005 |
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DIN No.: |
00183552 |
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Name : |
Mr. Vipul Jayantilal Ray |
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Designation : |
Director |
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Address: |
3, Shantivan Society, Makarpura Road, Vadodara-390010, Gujarat, India |
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Date of Appointment : |
01.04.1993 |
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DIN No.: |
00183835 |
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Name : |
Mr. Jignesha Vipul Ray |
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Designation : |
Director |
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Address: |
3, Shantivan Society, Makarpura Road, Vadodara-390010, Gujarat, India |
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Date of Appointment : |
14.04.2004 |
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DIN No.: |
00183905 |
KEY EXECUTIVES
|
Name : |
Ms. Divya |
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Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Jayantilal Dhanjibhai Ray |
429248 |
45.18 |
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Manjulaben Jayantilal Ray |
506322 |
53.30 |
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Jignesha Vipul Ray |
14430 |
1.52 |
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Total |
950000 |
100.00 |
AS ON: 10.07.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
· Manufacturer and Exporter of Terminal Blocks. [Confirmed by Management] · Manufacturing and Selling of Din Rail Mounted Terminals and Interface Modules. [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 : |
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Products : |
Finished Goods |
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Countries : |
Gulf Countries |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Cash, Advance Payment and L/C |
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Purchasing : |
Cash, Advance Payment and L/C |
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 : |
· State Bank of India Makarpura I. E. Branch,, Baroda - 390010, Gujarat, India Kotak Mahindra Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
Talati and Talati Chartered Accountant |
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Address : |
1006, Ocean, Sarabhai Road, Near Genda Circle, Vadodara-390023,
Gujarat |
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Tel. No.: |
91-265-2355053/ 2355073 |
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E-Mail : |
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PAN No.: |
AAAFT4520A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties : |
· Elmex Controls Private Limited · Econ Electro Private Limited · Elmex Electricals & Electronics Private Limited · Elmex lndustries |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
950000 |
Equity Shares |
INR 10/- each |
INR 9.500
Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
9.500 |
9.500 |
9.500 |
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(b) Reserves & Surplus |
120.090 |
97.018 |
103.789 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
129.590 |
106.518 |
113.289 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
177.232 |
187.830 |
175.502 |
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(b) Deferred tax liabilities (Net) |
10.953 |
9.446 |
8.216 |
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(c)
Other long term liabilities |
0.000 |
0.055 |
1.603 |
|
(d)
long-term provisions |
2.248 |
1.850 |
1.585 |
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Total
Non-current Liabilities (3) |
190.433 |
199.181 |
186.906 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
18.820 |
23.904 |
15.353 |
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(b)
Trade payables |
53.119 |
66.350 |
76.837 |
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(c)
Other current liabilities |
49.271 |
50.150 |
44.897 |
|
(d)
Short-term provisions |
18.925 |
14.089 |
9.857 |
|
Total
Current Liabilities (4) |
140.135 |
154.493 |
146.944 |
|
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|
|
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TOTAL |
460.158 |
460.192 |
447.139 |
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II.
ASSETS |
|
|
|
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(1) Non-current assets |
|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
158.050 |
147.232 |
152.849 |
|
(ii)
Intangible Assets |
1.018 |
1.399 |
1.780 |
|
(iii)
Capital work-in-progress |
3.056 |
8.748 |
6.115 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.778 |
1.778 |
1.778 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
8.973 |
17.432 |
12.097 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
172.875 |
176.589 |
174.619 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
90.589 |
113.809 |
111.944 |
|
(c)
Trade receivables |
160.305 |
136.545 |
130.955 |
|
(d)
Cash and cash equivalents |
12.957 |
11.597 |
12.289 |
|
(e)
Short-term loans and advances |
23.432 |
21.652 |
17.332 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
287.283 |
283.603 |
272.520 |
|
|
|
|
|
|
TOTAL |
460.158 |
460.192 |
447.139 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
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|
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Revenue from Operations |
654.030 |
589.686 |
441.663 |
|
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Other Income |
0.109 |
0.202 |
(0.716) |
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TOTAL |
654.139 |
589.888 |
440.947 |
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Less |
EXPENSES |
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|
|
|
|
|
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Cost of Materials Consumed |
379.737 |
373.357 |
295.817 |
|
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|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
22.437 |
1.853 |
(29.359) |
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Employees benefits expense |
53.633 |
48.497 |
42.763 |
|
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Other expenses |
113.075 |
99.204 |
79.537 |
|
|
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Cost of Trading Goods Sold |
3.197 |
0.000 |
0.000 |
|
|
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TOTAL |
572.079 |
522.911 |
388.758 |
|
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
82.060 |
66.977 |
52.189 |
|
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Less |
FINANCIAL
EXPENSES |
27.972 |
28.671 |
26.494 |
|
|
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PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
54.088 |
38.306 |
25.695 |
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
18.026 |
16.364 |
14.302 |
|
|
|
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|
|
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|
PROFIT/ (LOSS)
BEFORE TAX |
36.062 |
21.942 |
11.393 |
|
|
|
|
|
|
|
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|
Less |
TAX |
12.990 |
5.845 |
4.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
23.072 |
16.097 |
6.465 |
|
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|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
147.871 |
123.816 |
|
|
TOTAL EARNINGS |
NA |
147.871 |
123.816 |
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
27.054 |
65.128 |
58.678 |
|
|
|
Stores & Spares |
0.565 |
0.826 |
0.170 |
|
|
|
Capital Goods |
2.646 |
1.766 |
0.000 |
|
|
TOTAL IMPORTS |
30.265 |
67.720 |
58.848 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
24.29 |
16.94 |
6.81 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
|
|
|
|
Secured |
|
|
|
|
From Bank |
0.472 |
0.000 |
0.000 |
|
From Others |
0.321 |
0.088 |
0.000 |
|
Unsecured |
|
|
|
|
Current Maturities
of Deposits |
|
|
|
|
From Directors |
43.914 |
46.860 |
43.875 |
|
Total |
44.707 |
46.948 |
43.875 |
|
|
|
|
|
|
Cash generated from operations |
75.945 |
44.552 |
17.941 |
|
|
|
|
|
|
Net Cash generated from Operating Activities |
69.530 |
39.265 |
16.687 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
89.46 |
84.52 |
108.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.08 |
4.32 |
3.37 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
51.06 |
64.86 |
94.81 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.91 |
0.59 |
0.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.51 |
0.43 |
0.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.79 |
0.85 |
0.82 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.86 |
2.43 |
2.07 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.08 |
1.45 |
1.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.25 |
1.48 |
1.42 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.93 |
2.34 |
1.97 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.53 |
2.73 |
1.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.01 |
3.50 |
1.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.80 |
15.11 |
5.71 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.05 |
1.84 |
1.85 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.40 |
1.10 |
1.09 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.23 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
25.34 |
27.23 |
24.71 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.05 |
1.84 |
1.85 |
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 |
9.500 |
9.500 |
9.500 |
|
Reserves & Surplus |
103.789 |
97.018 |
120.090 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
113.289 |
106.518 |
129.590 |
|
|
|
|
|
|
long-term borrowings |
175.502 |
187.830 |
177.232 |
|
Short term borrowings |
15.353 |
23.904 |
18.820 |
|
Current Maturities of Long
term debt |
43.875 |
46.948 |
44.707 |
|
Total
borrowings |
234.730 |
258.682 |
240.759 |
|
Debt/Equity
ratio |
2.072 |
2.429 |
1.858 |
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 |
441.663 |
589.686 |
654.030 |
|
|
|
33.515 |
10.912 |
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 |
441.663 |
589.686 |
654.030 |
|
Profit |
6.465 |
16.097 |
23.072 |
|
|
1.46% |
2.73% |
3.53% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G13909346 |
100053377 |
KOTAK MAHINDRA BANK LIMITED |
30/09/2016 |
- |
- |
1480000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
2 |
G69299675 |
10576335 |
KOTAK MAHINDRA BANK LIMITED |
13/04/2015 |
09/11/2017 |
- |
60000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
3 |
C60715786 |
90100026 |
State Bank of India |
16/04/2005 |
17/02/2011 |
10/07/2015 |
84000000.0 |
MAKARPURA IE,1ST FLOOR, VCCI COMPLEX,BARODAGJ390010IN |
|
4 |
C60715356 |
80027555 |
State Bank of India |
12/01/2006 |
17/02/2011 |
10/07/2015 |
77000000.0 |
MAKARPURA I. E. BRANCH,BARODAGJ390010IN |
|
5 |
Y10189361 |
90099669 |
THE MAKARPURA INDL ESTATE CO-OPERATIVE BANK LTD. |
25/06/2003 |
- |
21/09/2005 |
0.0 |
MAKARPURABARODAGJ390010IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits |
|
|
|
From Directors |
175.656 |
187.440 |
|
|
|
|
|
Total |
175.656 |
187.440 |
CORPORATE INFORMATION
Elmex Electric Private Limited (formerly Econix Hi-tech Components Private Limited) incorporated in the year 1993 is in the field of Electrical Wire Termination Technology in lndia and is engaged in manufacturing and sale of din rail mounted terminals and interface modules for control and automation industry catering to the needs of national and multi-national companies.
BRIEF DESCRIPTION OF THE COMPANY'S WORKING
DURING THE YEAR:
The Directors are happy to inform you that the company achieved 10.91% growth in revenue which increased from INR 589.686 Million in FY 2015-16 to INR 654.030 Million in FY 2016-17 and profit after tax increased by 43.33% from INR 16.097 Million to INR 23.072 Million.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
· Electrical Installation
·
Moulds
·
Tools and Dies
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer
·
Air Conditioner, etc
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 64.08 |
|
UK Pound |
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
PUJ |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
IND |
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.