|
|
|
MIRA
INFORM REPORT
|
Report No. : |
490877 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
DAKSHIN FOUNDRY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 28, B to H KIADB Industrial Area, Hosakote, Bangalore – 562114, Karnataka |
|
Tel. No.: |
91-80-27971681 / 27971683 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
07.10.2004 |
|
|
|
|
Com. Reg. No.: |
08-034823 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 220.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02710KA2004PTC034823 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD0489M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of Ductile Iron, Gray Iron and Simo Iron castings. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 450000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2004. It is a manufacturer
specialized and spheroidal graphite iron castings. For the financial year 2017, the company has achieved revenue growth
of 9.32% as compared to the previous year along with an average profit margin
of 5.95%. The moderate financial risk profile of the company is marked by negative
reserve base along with negligible debt balance sheet profile. Rating is further constrained on account of small scale of operations and
exposure to intense competition. Rating takes into consideration the subject’s established market position
in the specialized castings business, and its diversified clientele. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution |
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 |
CRISIL |
|
Rating |
Long Term Borrowing (BB) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
19.12.2017 |
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 09.02.2018
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
|
Name : |
Mr. Ajeet |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-80-27971681 |
|
Date : |
07.02.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 28, B to H KIADB Industrial Area, Hosakote, Bangalore – 562114, Karnataka, India |
|
Tel. No.: |
91-80-27971681 / 27971683 |
|
Fax No.: |
91-80-27971684 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mrs. Vishwajeet Banerjee |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
Flat No.K-201, Swiss County, Chinchwad Kalewadi Link Road, Near Aditya Birla Hospital, Thergaon, Pune- 411033, Maharashtra, India |
||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2015 |
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|
DIN No: |
07303482 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mrs. Shivangini Bhartia |
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|
Designation : |
Director |
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|
Address : |
No. 101, Parijat Apartments, Fair Field Layout, No. 45/1, Race Course Road, Bangalore- 560001, Karnataka, India |
||||||||||||||||||||||||
|
Date of Appointment : |
27.01.2017 |
||||||||||||||||||||||||
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DIN No: |
01787304 |
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Other Directorship:
|
|||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. Nirmal Kumar Jain |
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|
Designation : |
Director |
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|
Address : |
No.22, 17th E Main, 7th Cross, 6th Block, Koramangala, Bangalore -560095, Karnataka, India |
||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2016 |
||||||||||||||||||||||||
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DIN No: |
05171143 |
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Other Directorship:
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
K.Y. Nagaraj |
|
Designation : |
Practicing Company Secretary |
|
Address : |
No.69/3, 1st Floor, 14th Cross, East Park Road,
Maleswaram, Bangalore – 560003, Karnataka, India |
|
Tel. No.: |
91-80-41282261/ 62 |
|
Fax. No: |
91-80-41282263 |
|
Email: |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders (Equity Share) |
|
No. of Shares |
|
Maa Jagdamba Manufacturing Company Private Limited, India |
|
20000 |
|
Torsa Fibres Private Limited, India |
|
20000 |
|
Crabel Distributors Private Limited, India |
|
45000 |
|
Shivangini Bharrtia Family Trust, India |
|
634000 |
|
Shivangini Properties Private Limited, India |
|
250000 |
|
Prakash Chandra Kejriwal |
|
13000 |
|
Pravash Kejriwal |
|
19500 |
|
Sumitra Kejriwal |
|
7500 |
|
Norisys Technology Limited, India |
|
240000 |
|
Vidush Bhartia |
|
436000 |
|
Cheers Consultancy Private Limited, India |
|
45000 |
|
Shivangini Commodities Private Limited, India |
|
20000 |
|
Total |
|
1750000 |
As on 31.03.2017
|
Names of Shareholders (Preference Share) |
|
No. of Shares |
|
Melbrow Commercial Company Limited, India |
|
72000 |
|
EIC Holdings Limited, India |
|
208000 |
|
Shivangini Properties Private Limited, India |
|
50000 |
|
Prakash Chandra Kejriwal |
|
60000 |
|
Norisys Technology Limited, India |
|
60000 |
|
Total |
|
450000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
24.91 |
|
Promoters (Body corporate) |
14.29 |
|
Promoters (Others-Shivangini Bhartia Family Trust) |
36.23 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
2.28 |
|
Public/Other than promoters (Body corporate) |
22.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Ductile Iron, Gray Iron and Simo Iron castings. (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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||||
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Imports : |
Not Divulged |
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|
|
||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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|
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Bankers : |
|
|
Auditors : |
|
|
Name : |
P. Dilip Kumar and Associates Chartered Accountants |
|
Address : |
GF-A, Sumeru,No.12, Sir M N Krishna Road, Basavanagudi-560004, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AESPK3775L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates: |
--- |
CAPITAL STRUCTURE
As on: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2050000 |
Equity Shares |
INR 100/- each |
INR 205.000 Million |
|
450000 |
Preference shares |
INR 100/- each |
INR 45.000 Million |
|
|
Total |
|
INR 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
INR 100/- each |
INR 175.000 Million |
|
450000 |
Preference shares |
INR 100/- each |
INR 45.000 Million |
|
|
Total |
|
INR 220.000
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 |
220.000 |
220.000 |
205.000 |
|
(b) Reserves and Surplus |
(61.581) |
(90.759) |
(121.522) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
158.419 |
129.241 |
83.478 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
0.641 |
1.822 |
1.628 |
|
Total Non-current
Liabilities (3) |
0.641 |
1.822 |
1.628 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
241.455 |
351.467 |
370.133 |
|
(b) Trade
payables |
80.580 |
64.828 |
82.076 |
|
(c) Other
current liabilities |
12.114 |
11.851 |
11.727 |
|
(d) Short-term
provisions |
2.262 |
0.090 |
0.074 |
|
Total Current
Liabilities (4) |
336.411 |
428.236 |
464.010 |
|
|
|
|
|
|
TOTAL |
495.471 |
559.299 |
549.116 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
250.978 |
262.267 |
280.041 |
|
(ii) Intangible
Assets |
0.270 |
0.447 |
0.058 |
|
(iii) Tangible assets
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) |
14.676 |
33.604 |
51.431 |
|
(d)
Long-term loans and advances |
7.380 |
16.682 |
6.857 |
|
(e) Other
Non-current assets |
1.050 |
0.681 |
0.632 |
|
Total Non-Current
Assets |
274.354 |
313.681 |
339.019 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
48.595 |
59.364 |
68.873 |
|
(c) Trade
receivables |
163.373 |
120.994 |
121.830 |
|
(d) Cash and
bank balances |
0.510 |
49.645 |
2.491 |
|
(e)
Short-term loans and advances |
8.639 |
15.615 |
16.903 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
221.117 |
245.618 |
210.097 |
|
|
|
|
|
|
TOTAL |
495.471 |
559.299 |
549.116 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
490.336 |
448.550 |
388.082 |
|
|
Other Income |
12.384 |
23.866 |
7.582 |
|
|
TOTAL |
502.720 |
472.416 |
395.664 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
206.669 |
191.388 |
226.634 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.627 |
11.162 |
(24.679) |
|
|
Employee benefit expense |
68.105 |
66.309 |
64.216 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
76.431 |
60.110 |
55.808 |
|
|
Other expenses |
35.376 |
32.004 |
32.563 |
|
|
Exceptional items |
0.000 |
0.000 |
0.319 |
|
|
TOTAL |
388.208 |
360.973 |
354.861 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
114.512 |
111.443 |
40.803 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.438 |
38.085 |
42.604 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
85.074 |
73.358 |
(1.801) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
24.909 |
24.491 |
25.230 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
60.165 |
48.867 |
(27.031) |
|
|
|
|
|
|
|
Less |
TAX |
30.987 |
18.104 |
(51.431) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
29.178 |
30.763 |
24.400 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
16.67 |
17.90 |
15.25 |
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 |
114.721 |
104.505 |
(17.562) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
102.662 |
104.451 |
(17.593) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days [Sundry Debtors
/ Income * 365] |
|
121.61 |
98.46 |
114.58 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
3.00 |
3.71 |
3.19 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
142.31 |
123.63 |
132.19 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
2.36 |
1.88 |
0.59 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.46 |
0.42 |
0.15 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio
[(Borrowing + Current Liabilities) / Total Assets] |
|
0.68 |
0.77 |
0.85 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
1.52 |
2.72 |
4.43 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
2.12 |
3.31 |
5.56 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
1.59 |
2.03 |
3.36 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
3.89 |
2.93 |
0.96 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
5.95 |
6.86 |
6.29 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
5.89 |
5.50 |
4.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
18.42 |
23.80 |
29.23 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio
[Current Assets / Current Liabilities] |
|
0.66 |
0.57 |
0.45 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.51 |
0.43 |
0.30 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.32 |
0.23 |
0.15 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
1.10 |
1.60 |
1.81 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
0.66 |
0.57 |
0.45 |
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 |
205.000 |
220.000 |
220.000 |
|
Reserves & Surplus |
(121.522) |
(90.759) |
(61.581) |
|
Net
worth |
83.478 |
129.241 |
158.419 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
370.133 |
351.467 |
241.455 |
|
Total
borrowings |
370.133 |
351.467 |
241.455 |
|
Debt/Equity
ratio |
4.434 |
2.719 |
1.524 |
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 |
388.082 |
448.550 |
490.336 |
|
|
|
15.581 |
9.316 |
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 |
388.082 |
448.550 |
490.336 |
|
Profit/ (Loss) |
24.400 |
30.763 |
29.178 |
|
|
6.29
% |
6.86
% |
5.95
% |
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 |
No |
|
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 |
Yes |
|
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 |
OPERATIONAL
HIGHLIGHTS:
Customer’s SKF, MEDHA Traction, SIEMENS etc. for various parts development activities completed and are moved to serial production during the financial year which helped company to realize higher tooling and development revenue as well as increased sales from serial production of these parts during financial year 2016-17.
Business model for ABB has been changed to fully machined part resulting in high revenue for the company.
Development of Indian Railways (DLW) parts were in advance stage of development and approval process which will complete in Financial Year 2017-18 and serial production will start after approval
In terms of new markets the company has successfully bagged new development orders from Medha Traction Systems Hyderabad and SIEMENS, Germany for various parts where development activities will be completed during financial year 2016-17 for some parts and for balance parts development activities will be completed during financial year 2017-18 and then serial production of these parts will also start during financial year 2017-18
Considering highly dynamic market situation it is planned to introduce atleast 02 New customers and atleast 10 New Part Nos. from new customers as well as existing customer during financial year 2017-18
Projects Implemented:
Manufacturing Cost Optimization
In-House Machining Development for GE, Waukesha – Plenum Inter cooler cover – Front & Rear
Development of +2 New Parts/ Month (AVG.)
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from others |
210.000 |
281.100 |
|
Other loans and advances |
31.455 |
70.367 |
|
Total |
241.455 |
351.467 |
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
A63696520 |
80003269 |
CENTRAL BANK OF INDIA |
15/12/2005 |
24/04/2009 |
- |
207600000.0 |
No. 541, CMH Road, 1st Stage, Indiranagar, Bangalore - 560038, Karnataka, India |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Office equipment
- Computer
Accessories
- Computer
Software
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 64.16 |
|
|
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PYA |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.