|
|
|
MIRA INFORM REPORT
|
Report No. : |
489756 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SIMOLA
VITRIFIED PRIVATE LIMITED (w.e.f. 22.04.2010) |
|
|
|
|
Formerly Known
As : |
SIMOLA
GRANITO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No 614, Old Ghutu Road, At Ghutu, Morbi – 363642, Gujarat |
|
Tel. No.: |
91-2822-241164 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
18.03.2010 |
|
|
|
|
Com. Reg. No.: |
04-059914 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 53.417 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933GJ2010PTC059914 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS9558D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and dealer of ceramic products being ceramic vitrified tiles. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Simola Vitrified Private Limited was incorporated in the year 2010. It is a manufacturer and dealer of ceramic products being ceramic vitrified tiles. For the financial year 2017, the company has reported decline in its
revenue as compared to previous year but has managed to maintain profit
margin of 1.65%. The rating takes into consideration the satisfactory financial profile
of the company is marked by adequate networth base along with negligible debt
level. However, rating strengths are partially offset by intense competition
due to the presence of numerous established tile manufactures and unorganized
players. 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan= BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
01.12.2016 |
|
Rating Agency Name |
ICRA |
|
Rating |
Bank Guarantee= A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
01.12.2016 |
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 06.02.2018
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 DENIED BY
|
Name : |
Mr. Rajesh Desai |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9638933111 |
|
Date : |
03.02.2018 |
LOCATIONS
|
Registered Office : |
Survey No 614, Old Ghutu Road, At Ghutu, Morbi – 363642, Gujarat,
India |
|
Tel. No.: |
91-2822-241164 |
|
Mobile No.: |
91-9638933111 (Mr. Rajesh Desai) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rajeshkumar Naranbhai Shirvi |
|
Designation : |
Director |
|
Address : |
Amrut Nagar Society, Krishna, Morbi – 363641, Gujarat, India |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
02944384 |
|
|
|
|
Name : |
Mr. Harishkumar Naranbhai Shirvi |
|
Designation : |
Director |
|
Address : |
Amrut Nagar, Ravapar Road, District Rajkot, Morbi –
363641, Gujarat,
India |
|
Date of Appointment : |
05.08.2010 |
|
DIN No.: |
03142738 |
|
|
|
|
Name : |
Mr. Pareshbhai Javerbhai Dhoriyani |
|
Designation : |
Director |
|
Address : |
Natvar Park, Opposite Vora Bag, Morbi – 363642, Gujarat, India |
|
Date of Appointment : |
15.09.2010 |
|
DIN No.: |
03191719 |
|
|
|
|
Name : |
Mrs. Bhavnaben Harshadkumar Vidja |
|
Designation : |
Director |
|
Address : |
Gautam Society, Opposite Prashila Appartment, Ravapar
Road, Morbi – 363641, Gujarat, India |
|
Date of Appointment : |
15.09.2010 |
|
DIN No.: |
03247221 |
|
|
|
|
Name : |
Mr. Kamalshil Harishbhai Shirvi |
|
Designation : |
Director |
|
Address : |
Krishna, Amrut Nagar, Ravapar Road, Morbi – 363641, Gujarat, India |
|
Date of Appointment : |
05.06.2014 |
|
DIN No.: |
06890704 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh Naranbhai Shirvi |
|
1612901 |
|
Bhavesh Premjibhai Godhaviya |
|
347335 |
|
Harishkumar Naranbhai Shirvi |
|
353094 |
|
Rajnikant Karamshibhai Kundariya |
|
91750 |
|
Naranbhai Bhavanbhai Shirvi |
|
372750 |
|
Kamalshil Harishbhai Shirvi |
|
234525 |
|
Bhavnaben Harshadkumar Vidja |
|
592932 |
|
Maganbhai Nanjibhai Vidja |
|
25000 |
|
Pareshbhai Javerbhai Dhoriyani |
|
610658 |
|
Ilaben Rajeshbhai Shirvi |
|
533405 |
|
Jayaben Naranbhai Shirvi |
|
113400 |
|
Sandhyaben K. Shirvi |
|
160217 |
|
Vimalbhai Halvadiya |
|
100000 |
|
Dimpalben V. Halvadiya |
|
113668 |
|
Shantilal Raghavjibhai Halavadiya |
|
10 |
|
Kantaben Shantilal Halavadiya |
|
10 |
|
Nipaben Shantilal Halavadiya |
|
10 |
|
Sanjaybhai Dharamshibhai Bavarava |
|
10 |
|
Ambaram K. Kaila |
|
10 |
|
Virendrakumar Harjivanbhai Patel |
|
10 |
|
Nileshbhai Premjibhai Godhaviya |
|
80000 |
|
|
|
|
|
Total |
|
5341695 |
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 : |
Manufacturer and dealer of ceramic products being ceramic vitrified tiles. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
G. P. Kapadia and Company Chartered Accountants |
|
Address : |
1st
Floor Aakash Complex, Opposite Jalaram Temple, Ayodhyapuri, Main Road, Morbi
– 363641, Gujarat, India |
|
PAN No.: |
ATLPP4748G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5950000 |
Equity Shares |
INR 10/- each |
INR 59.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5341695 |
Equity Shares |
INR 10/- each |
INR 53.417 Million |
|
|
|
|
|
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
53.417 |
53.417 |
53.417 |
|
(b) Reserves & Surplus |
135.969 |
122.096 |
99.282 |
|
(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) |
189.386 |
175.513 |
152.699 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
109.109 |
116.314 |
140.824 |
|
(b) Deferred tax liabilities (Net) |
10.955 |
9.699 |
7.753 |
|
(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) |
120.064 |
126.013 |
148.577 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
92.688 |
72.649 |
110.210 |
|
(b) Trade
payables |
128.327 |
116.384 |
134.684 |
|
(c) Other
current liabilities |
57.641 |
65.416 |
41.470 |
|
(d) Short-term
provisions |
6.165 |
11.250 |
5.553 |
|
Total Current
Liabilities (4) |
284.821 |
265.699 |
291.917 |
|
|
|
|
|
|
TOTAL |
594.271 |
567.225 |
593.193 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
214.070 |
218.651 |
244.316 |
|
(ii)
Intangible Assets |
0.000 |
0.010 |
0.020 |
|
(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 |
12.408 |
8.408 |
8.250 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.009 |
|
Total Non-Current
Assets |
226.478 |
227.069 |
252.595 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
99.800 |
84.457 |
76.546 |
|
(c) Trade
receivables |
209.245 |
183.791 |
208.849 |
|
(d) Cash
and cash equivalents |
9.349 |
27.613 |
29.074 |
|
(e)
Short-term loans and advances |
47.807 |
42.577 |
24.675 |
|
(f) Other
current assets |
1.592 |
1.718 |
1.454 |
|
Total
Current Assets |
367.793 |
340.156 |
340.598 |
|
|
|
|
|
|
TOTAL |
594.271 |
567.225 |
593.193 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
840.724 |
980.401 |
909.903 |
|
|
|
Other Income |
14.553 |
18.737 |
5.966 |
|
|
|
TOTAL |
855.277 |
999.138 |
915.869 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
636.306 |
749.933 |
693.950 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(5.193) |
(11.846) |
9.407 |
|
|
|
Employee Benefits Expenses |
68.912 |
76.627 |
51.979 |
|
|
|
Other Expenses |
80.662 |
92.948 |
70.025 |
|
|
|
TOTAL |
780.687 |
907.662 |
825.361 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
74.590 |
91.476 |
90.508 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
27.574 |
27.335 |
33.851 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
47.016 |
64.141 |
56.657 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
25.897 |
28.405 |
31.053 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
21.119 |
35.736 |
25.604 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.246 |
12.922 |
9.064 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
13.873 |
22.814 |
16.540 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
2.60 |
4.27 |
3.10 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
28.853 |
33.840 |
16.696 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
6.684 |
94.216 |
175.047 |
|
Net cash flows from (used in) operating activities |
6.684 |
94.216 |
175.047 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
90.84 |
68.42 |
83.78 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.02 |
5.33 |
4.36 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
73.61 |
56.65 |
70.84 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.75 |
1.08 |
1.18 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.35 |
0.42 |
0.37 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.71 |
0.73 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.22 |
1.27 |
1.75 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.50 |
1.51 |
1.91 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.13 |
1.25 |
1.60 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.71 |
3.35 |
2.67 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
1.65 |
2.33 |
1.82 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.33 |
4.02 |
2.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.33 |
13.00 |
10.83 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.29 |
1.28 |
1.17 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.94 |
0.96 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.31 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.32 |
4.17 |
5.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.29 |
1.28 |
1.17 |
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 |
53.417 |
53.417 |
53.417 |
|
Reserves & Surplus |
99.282 |
122.096 |
135.969 |
|
Net
worth |
152.699 |
175.513 |
189.386 |
|
|
|
|
|
|
Long Term borrowings |
140.824 |
116.314 |
109.109 |
|
Short Term borrowings |
110.210 |
72.649 |
92.688 |
|
Current maturities of long term debt |
16.696 |
33.840 |
28.853 |
|
Total
borrowings |
267.730 |
222.803 |
230.650 |
|
Debt/Equity
ratio |
1.753 |
1.269 |
1.218 |
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
|
909.903 |
980.401 |
840.724 |
|
|
|
7.748 |
(14.247) |
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
|
909.903 |
980.401 |
840.724 |
|
Profit/(Loss) |
16.540 |
22.814 |
13.873 |
|
|
1.82% |
2.33% |
1.65% |
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
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 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 |
STATE OF COMPANY’S AFFAIRS
The Total turnover for the financial year ended March 31, 2017 has decrease to INR 840.724 million as compared to INR 980.401 million of Previous Year. The Company has achieved Export Turnover to the tune of INR 406.521 million during the year. The Company has incurred Operating Profit of INR 21.119 million as compared to INR 35.736 million of Previous Year. The Depreciation for the year was INR 25.897 million as compared with INR 28.405 million of previous year.
The Directors assures you that they would grab all business opportunities that could be seized from the market for the overall development of their business and foresee bright prospects of the Company in the years to come.
FUTURE OUTLOOK
The Company is focused on profitable growth in the long-term and is taking several steps to reduce costs, minimize waste, improve quality and customer interface and enhance profitability of its product. During the year it was recognizes that input costs are firm and there is sluggishness in the general economy. The Company pays special attention to making its products competitive and be increasingly visible to the customers. The Company seeks long-term relationship with clients while addressing their requirements. Their customer centric approach has resulted in high levels of client satisfaction and retention.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Deposits from directors |
34.343 |
41.621 |
|
Deposits from shareholders |
14.494 |
13.563 |
|
Deposits from others |
53.332 |
28.626 |
|
|
|
|
|
Total |
102.169 |
83.810 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G73157380 |
100109031 |
AXIS BANK LIMITED |
13/06/2017 |
29/12/2017 |
- |
228500000.0 |
SCIENTIFIC CLOCK MFG. CO., DR. TAKHATSINGHJI MAIN ROAD, NEAR OLD MAHAJAN CHOWK, MORBI GJ363641IN |
|
2 |
B71455232 |
10413853 |
BANK OF BARODA |
25/03/2013 |
- |
- |
27500000.0 |
MORVI BRANCH MORVIGJ363641IN |
|
3 |
G48640957 |
10257511 |
BANK OF BARODA |
09/12/2010 |
05/10/2013 |
04/07/2017 |
399000000.0 |
MORVI BRANCH MORVIGJ363641IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
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 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 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
INFORMATION DETAILS
|
Information Gathered
by : |
SHW |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NKT |
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.