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MIRA INFORM REPORT
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Report No. : |
491870 |
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Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
MENON AND MENON LIMITED (w.e.f. 01.03.2007) |
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Formerly Known
As : |
MENON
AND MENON PRIVATE LIMITED |
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Registered
Office : |
Vikram Nagar, Kolhapur – 416005, Maharashtra |
|
Tel. No.: |
91-231-2687144 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
06.10.1969 |
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Com. Reg. No.: |
11-014404 |
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Capital
Investment / Paid-up Capital : |
INR 80.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U29119MH1969PLC014404 |
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IEC No.: |
0390010294 |
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GSTIN/UIN: |
Not Divulged |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCM8804C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture of Grey Iron Castings. (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)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1969. The company is engaged in manufacturing of grey iron castings. As per the financial records of 2017, the revenue of the company has increased by 8.80% and it has reported low profitability margin of 0.67%. The company possesses healthy financial position marked by above average net worth base along with comfortable debt level and average liquidity position. The rating strengths are constrained by risk associated with volatility in raw material prices, client concentration financial risk profile marked by moderate operating margins and intense competition from organized and unorganized players. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
11.12.2017 |
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Rating Agency Name |
CARE |
|
Rating |
Short Term Loans = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
11.12.2017 |
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 14.02.2018
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
Management Non-Cooperative (91-231-2687144)
LOCATIONS
|
Registered Office : |
Vikram Nagar, Kolhapur – 416005, Maharashtra, India |
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Tel. No.: |
91-231-2687144 |
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Fax No.: |
91-231-2687205 |
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E-Mail : |
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Website : |
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Kagal Division/ Plant : |
F-3, Kagal MIDC, Main Road, Kagal-Hatkanangale 5 Star Industry,
Taluka: Kagal, District: Kolhapur – 416236, Maharashtra, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vijay Chandran Menon |
|
Designation : |
Managing director |
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Address : |
236 E Kairali Tarabai Park, Kolhapur - 416003, Maharashtra, India |
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Date of Birth/Age : |
21.06.1956 |
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Qualification : |
B.E (Mech.) MBA |
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PAN No.: |
ABJPM0490Q |
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Date of Appointment : |
30.09.1994 |
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DIN No.: |
00254390 |
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|
|
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Name : |
Mr. Jaysinh Sakharam Konkar |
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Designation : |
Director |
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Address : |
302,Vinspa Apartments, 6-Boat Club Road, Pune - 411001, Maharashtra,
India |
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Date of Birth/Age : |
24.04.1943 |
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Qualification : |
B.E (Mech.) M.E (PROD.) Diploma (OPNS.MGMT.) |
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Date of Appointment : |
18.09.2002 |
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DIN No.: |
00011924 |
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Name : |
Mr. Chidambaranathan Ramakrishnan |
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Designation : |
Director |
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Address : |
202, Vishnudeep Apartments, 7th Main,, Between 8th And 9th Cross,
Malleswaram, Bangalore - 560003, Karnataka, India |
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Date of Birth/Age : |
25.04.1960 |
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Qualification : |
B.E (Mech.) Full Time Course on Statistical Quality Control and Operations
Research-Indian Statistical Institute, Chennai |
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Date of Appointment : |
03.09.2004 |
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DIN No.: |
00481651 |
KEY EXECUTIVES
|
Name : |
Mr. Kishor Babasaheb Hupare |
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Designation : |
Company Secretary |
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Address : |
Rajmane High School Javal, Rui, Hatkanangale, Kolhapur, 416116, Maharashtra, India |
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Date of Birth/Age : |
31.05.1988 |
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Date of Appointment : |
31.05.2014 |
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PAN No.: |
ADKPH5442E |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Chandran Menon |
|
3155732 |
|
Satish Chandran Menon |
|
1660068 |
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Padmini Chandran Menon |
|
340600 |
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Preethi Vijay Menon |
|
509200 |
|
Parmeswaran Kurup |
|
11600 |
|
Vinod Menon |
|
23200 |
|
Reliance Capital Limited, India |
|
1560000 |
|
Divya Vijay Menon |
|
100000 |
|
Reliance Shares and Stock Brokers Limited, India |
|
528000 |
|
Shreya Vijay Menon |
|
100000 |
|
Vasanthy Parmeswaran |
|
11600 |
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Total |
|
8000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 14.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
73.32 |
|
Promoters- Body corporate |
26.10 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
0.58 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Grey 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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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 : |
(INR
In Million)
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Auditors : |
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|
Name : |
P.M. Vardhe and Company Chartered Accountants |
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Address : |
630/E, Shahupuri, 1st Lane, Kolhapur – 416001, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AANPV5690A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relative: |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
2000000 |
Preference shares |
INR 10/- each |
INR 20.000 Million |
|
|
Total |
|
INR 120.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
INR 10/- each |
INR 80.000 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 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
80.000 |
80.000 |
80.000 |
|
(b) Reserves and Surplus |
519.898 |
503.180 |
490.847 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
599.898 |
583.180 |
570.847 |
|
|
|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
492.292 |
611.105 |
735.066 |
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(b) Deferred tax liabilities (Net) |
19.113 |
7.729 |
1.913 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
15.802 |
19.720 |
17.752 |
|
Total Non-current
Liabilities (3) |
527.207 |
638.554 |
754.731 |
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(4)
Current Liabilities |
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|
|
|
(a) Short-term
borrowings |
48.780 |
33.197 |
9.486 |
|
(b) Trade
payables |
226.228 |
123.520 |
131.898 |
|
(c) Other
current liabilities |
316.407 |
367.988 |
233.350 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
591.415 |
524.705 |
374.734 |
|
|
|
|
|
|
TOTAL |
1718.520 |
1746.439 |
1700.312 |
|
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|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1114.617 |
1178.538 |
1152.536 |
|
(ii)
Intangible Assets |
13.502 |
16.135 |
1.248 |
|
(iii) Tangible assets
capital work-in-progress |
3.010 |
0.731 |
91.721 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.027 |
0.027 |
0.027 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
52.992 |
62.655 |
59.979 |
|
(e) Other
Non-current assets |
2.537 |
2.500 |
2.000 |
|
Total Non-Current
Assets |
1186.685 |
1260.586 |
1307.511 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
141.791 |
115.118 |
121.370 |
|
(c) Trade
receivables |
211.224 |
108.160 |
100.333 |
|
(d) Cash and
bank balances |
44.411 |
86.032 |
35.865 |
|
(e)
Short-term loans and advances |
4.507 |
6.037 |
3.728 |
|
(f) Other current
assets |
129.902 |
170.506 |
131.505 |
|
Total
Current Assets |
531.835 |
485.853 |
392.801 |
|
|
|
|
|
|
TOTAL |
1718.520 |
1746.439 |
1700.312 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2491.800 |
2290.233 |
2238.515 |
|
|
Other Income |
22.142 |
12.726 |
24.835 |
|
|
TOTAL |
2513.942 |
2302.959 |
2263.350 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
977.438 |
919.888 |
942.185 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(31.995) |
26.116 |
(39.018) |
|
|
Employee benefit expense |
384.744 |
363.439 |
337.543 |
|
|
Other expenses |
944.668 |
764.778 |
815.904 |
|
|
TOTAL |
2274.855 |
2074.221 |
2056.614 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
239.087 |
228.738 |
206.736 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
102.546 |
111.171 |
89.692 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
136.541 |
117.567 |
117.044 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
108.829 |
99.145 |
81.286 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
27.712 |
18.422 |
35.758 |
|
|
|
|
|
|
|
Less |
TAX |
10.994 |
6.089 |
(18.982) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
16.718 |
12.333 |
54.740 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
7.599 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
7.599 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
22.879 |
|
|
Components and spare
parts |
0.000 |
0.000 |
0.300 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
23.179 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.09 |
1.54 |
5.74 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
147.030 |
160.168 |
77.266 |
|
Cash generated from operations |
96.147 |
202.910 |
78.279 |
|
Net cash flows from (used in) operations |
185.163 |
304.192 |
155.706 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
30.94 |
17.24 |
16.36 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
11.80 |
21.17 |
22.31 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
84.48 |
49.01 |
51.10 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.69 |
1.99 |
1.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.21 |
0.19 |
0.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.72 |
0.74 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.15 |
1.38 |
1.44 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.99 |
0.90 |
0.66 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.89 |
2.05 |
2.18 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.33 |
2.06 |
2.30 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.67 |
0.54 |
2.45 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.97 |
0.71 |
3.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.79 |
2.11 |
9.59 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.90 |
0.93 |
1.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.66 |
0.71 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.35 |
0.33 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
8.60 |
10.06 |
10.27 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.90 |
0.93 |
1.05 |
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 |
80.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
490.847 |
503.180 |
519.898 |
|
Net
worth |
570.847 |
583.180 |
599.898 |
|
|
|
|
|
|
Long-term borrowings |
735.066 |
611.105 |
492.292 |
|
Short term borrowings |
9.486 |
33.197 |
48.780 |
|
Current maturities of
long-term debts |
77.266 |
160.168 |
147.030 |
|
Total
borrowings |
821.818 |
804.470 |
688.102 |
|
Debt/Equity
ratio |
1.440 |
1.379 |
1.147 |
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 |
2238.515 |
2290.233 |
2491.800 |
|
|
0.000 |
2.310 |
8.801 |
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 |
2238.515 |
2290.233 |
2491.800 |
|
Profit/ (Loss) |
54.740 |
12.333 |
16.718 |
|
|
2.45
% |
0.54
% |
0.67
% |
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 |
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 |
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 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G48323729 |
100109487 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
18/04/2017 |
- |
- |
2200000.0 |
C.T.S.NO.1716, E WARD RAJARAMPURI,7TH LANE.KOLHAPURMH416008IN |
|
2 |
G00901553 |
10463728 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
11/11/2013 |
15/03/2016 |
- |
185000000.0 |
C.T.S. NO. 1716, E WARD, RAJARAMPURI 7TH LANEKOLHAPURMH416008IN |
|
3 |
G00906073 |
10463726 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
11/11/2013 |
15/03/2016 |
- |
820800000.0 |
C.T.S. NO. 1716, E WARD, RAJARAMPURI 7TH LANEKOLHAPURMH416008IN |
|
4 |
B68964691 |
10406407 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
21/02/2013 |
- |
- |
46000000.0 |
C.T.S.NO.1716, E WARD RAJARAMPURI,7TH LANE.KOLHAPURMH416008IN |
|
5 |
G38983706 |
10402098 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
02/02/2013 |
- |
07/03/2017 |
20600000.0 |
C.T.S.NO.1716, E WARD RAJARAMPURI,7TH LANE.KOLHAPURMH416008IN |
|
6 |
G38985073 |
10295558 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
30/06/2011 |
15/03/2016 |
07/03/2017 |
48000000.0 |
C.T.S.NO.1716, E WARD RAJARAMPURI,7TH LANE.KOLHAPURMH416008IN |
|
7 |
G11016888 |
10276710 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
26/03/2011 |
15/03/2016 |
28/08/2016 |
50000000.0 |
C.T.S.NO.1716, E WARD RAJARAMPURI,7TH LANE.KOLHAPURMH416008IN |
|
8 |
G03847803 |
10334604 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
30/01/2012 |
- |
26/04/2016 |
36600000.0 |
C.T.S.NO.1716, E WARD RAJARAMPURI,7TH LANE.KOLHAPURMH416008IN |
|
9 |
C01050830 |
10402103 |
THE SARASWAT |
29/01/2013 |
- |
18/03/2014 |
46500000.0 |
C.T.S.NO.1716, E WARD RAJARAMPURI,7TH LANE.KOLHAPURMH416008IN |
|
10 |
B92033679 |
10276708 |
THE SARASWANT CO-OPERATIVE BANK LTD |
25/03/2011 |
01/07/2011 |
10/12/2013 |
20000000.0 |
C.T.S. NO. 1716, E WARDRAJARAMPURI, 7TH LANE,KOLHAPURMH416008IN |
FIXED ASSETS:
- Land
- Buildings
- Factory building
- Other building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- 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 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 |
|
|
1 |
INR |
|
Euro |
1 |
INR |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
NKTS |
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 |
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.