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|
MIRA INFORM REPORT
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Report No. : |
491467 |
|
Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
RDT DIAMOND TOOLS PRIVATE LIMITED |
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|
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Registered
Office : |
H. No.8-2-684/3/25 and 26, Road No.12, Banjara Hills, Hyderabad –
500034, Telangana |
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Tel. No.: |
91- 40-23305193 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
19.04.2010 |
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Com. Reg. No.: |
36-067989 |
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Capital
Investment / Paid-up Capital : |
INR 25.000 Million |
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CIN No.: [Company Identification
No.] |
U29220TG2010PTC067989 |
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IEC No.: |
Not Available |
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GSTIN No.: |
36AAECR7298G1ZW |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECR7298G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Diamond Tools. [Registered Activity] |
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No. of Employees
: |
Not Available |
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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Maximum Credit Limit : |
USD 96300 |
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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 : |
Subject is a subsidiary of “Midwest Granite Private Limited”
incorporated in the year 2010 and it is having satisfactory track record. For the financial year 2017, the company has achieved marginal growth
in its revenue as compared to its previous year and has reported thin profit
margin during the year. Rating takes into consideration, the acceptable financial risk profile
marked by comfortable debt protection metrics and fair liquidity position. Rating continue to derive strength from its established track record
of its business operation backed by its strong support from its holding
entity. However, these rating gets partially offset by low reserve level and
the company’s presence in highly fragmented industry. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings with usual 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 |
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 15.02.2018.
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.
LOCATIONS
|
Registered Office : |
H. No. 8-2-684/3/25 and 26, Road No. 12, Banjara Hills, Hyderabad –
500034, Telangana, India |
|
Tel. No.: |
91-40-23305193 /94/95 |
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Fax No.: |
91-40-23305167/ 23302842 |
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E-Mail : |
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Factory : |
44C, Phase-5, IDA, Patancheru, Medak District – 502319, Telangana,
India |
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Tel. No.: |
91-8455-245569 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Ranganayakamma Kollareddy |
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Designation : |
Director |
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Address : |
La Creative Heights, Flat No.2&3, 8-2-696/697 Road No.12, Banjara Hills Hyderabad – 500034, Telangana, India |
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Date of Birth: |
04.10.1958 |
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Date of Appointment : |
07.03.2016 |
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DIN No.: |
00033569 |
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Other Directorship:
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Name : |
Kukreti Soumya |
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Designation : |
Managing Director |
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Address : |
La Creative Heights, F No. 2,3 8-2-696/697, Raod No.12, Banjara Hills, Hyderabad – 500034, Telangana, India |
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Date of Appointment : |
21.08.2015 |
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DIN No.: |
01760289 |
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Other Directorship:
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Midwest Granite Private Limited, India |
|
2499990 |
|
K. Ranganaykamma (Nomine Shareholder of Midwest Granite Private
Limited) |
|
10 |
|
Total |
|
2500000 |
AS ON 27.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Bodies corporate] |
99.9996 |
|
Promoters
[Others held by Mrs. K. Ranganayakam] |
0.0004 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamond Tools. [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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : [AsOn 31.03.2016] |
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Facilities : |
Notes: LONG TERM BORROWINGS Primary
security: Secured by hypothecation of existing
and proposed plant and machinery, furniture and fixture and all stocks raw
materials, semi- finished goods and finished products and all future
acquisition of fixed asset and current assets in nature. Collateral
Security: Land and buildings at Plot.No:44/C, Phase-V, IDA, Patancheruvu
belonging to Holding Company. Guarantee: Personal guarantee by all Director of the Company, three relatives of
the Director of the Company and by G. Ravindera Reddy Corporate
Guarantee: Corporate Guarantee by Midwest Granite Private Limited Term Of
Repayment:
There is no continuing default as on the balance sheet date in
repayment of Loans and interest amount Primary
security: Hypothecation of vehicle Term of
Repayment:
|
|
Auditors : |
|
|
Name : |
P.V.R.K. Nageswararao and Company Chartered Accountants |
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Address : |
109, Metro Residency, 6-3-1247, Raj Bhavan Road, Khairathabad,
Hyderabad – 560082, Telangana, India |
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Tel. No.: |
91-40-23311609/23312269 |
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E-Mail : |
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PAN No.: |
AACFP1618B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Midwest Granite Private Limited (CIN No. U14102AP1981PTC003317) |
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Companies in which relative of Key Management Personal has substantial
interest : |
Reliance Diamond Tools Private Limited |
CAPITAL STRUCTURE
AS ON 27.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
INR 10/- each |
INR 35.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
25.000 |
25.000 |
0.100 |
|
(b) Reserves &
Surplus |
8.716 |
6.311 |
2.250 |
|
(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) |
33.716 |
31.311 |
2.350 |
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
19.748 |
18.592 |
0.023 |
|
(b) Deferred tax
liabilities (Net) |
1.280 |
1.419 |
1.288 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.704 |
1.163 |
1.156 |
|
Total Non-current
Liabilities (3) |
22.732 |
21.174 |
2.467 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
21.303 |
6.901 |
2.290 |
|
(b) Trade payables |
71.204 |
61.292 |
59.791 |
|
(c) Other current
liabilities |
12.762 |
7.039 |
7.108 |
|
(d) Short-term provisions |
1.247 |
1.437 |
0.452 |
|
Total Current Liabilities
(4) |
106.516 |
76.669 |
69.641 |
|
|
|
|
|
|
TOTAL |
162.964 |
129.154 |
74.458 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
25.829 |
23.011 |
20.419 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.743 |
0.006 |
2.054 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
40.072 |
23.017 |
22.473 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
20.001 |
12.519 |
11.908 |
|
(c) Trade receivables |
84.103 |
67.406 |
29.764 |
|
(d) Cash and cash
equivalents |
2.597 |
2.958 |
0.784 |
|
(e) Short-term loans and
advances |
16.026 |
22.922 |
9.018 |
|
(f) Other current assets |
0.165 |
0.332 |
0.511 |
|
Total Current Assets |
122.892 |
106.137 |
51.985 |
|
|
|
|
|
|
TOTAL |
162.964 |
129.154 |
74.458 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|||
|
|
Income |
101.764 |
93.388 |
39.016 |
|
|
Other Income |
2.660 |
1.110 |
0.950 |
|
|
TOTAL |
104.424 |
94.498 |
39.966 |
|
|
|
|||
|
Less |
EXPENSES |
|||
|
|
Cost of Raw Materials
Consumed |
53.236 |
54.678 |
10.768 |
|
|
Purchases of
Stock-in-Trade |
7.327 |
1.544 |
1.647 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.685) |
(1.143) |
3.082 |
|
|
Employees benefits
expense |
14.183 |
9.696 |
8.846 |
|
|
Other expenses |
18.851 |
19.165 |
11.205 |
|
|
TOTAL |
92.912 |
83.940 |
35.548 |
|
|
|
|||
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
11.512 |
10.558 |
4.418 |
|
|
|
|||
|
Less |
FINANCIAL EXPENSES |
4.895 |
1.395 |
0.699 |
|
|
|
|||
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
6.617 |
9.163 |
3.719 |
|
|
|
|||
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.065 |
2.815 |
1.835 |
|
|
|
|||
|
|
PROFIT/ (LOSS) BEFORE TAX |
3.552 |
6.348 |
1.884 |
|
|
|
|||
|
Less |
TAX |
1.146 |
2.287 |
0.200 |
|
|
|
|||
|
|
PROFIT/ (LOSS) AFTER TAX
|
2.406 |
4.061 |
1.684 |
|
|
|
|||
|
|
EARNINGS IN FOREIGN
CURRENCY |
|||
|
|
F.O.B. Value of Exports |
6.206 |
1.327 |
1.762 |
|
|
TOTAL EARNINGS |
6.206 |
1.327 |
1.762 |
|
|
|
|||
|
|
EARNINGS / (LOSS)
PER SHARE (INR) |
0.96 |
5.45 |
168.44 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
4.856 |
2.431 |
2.445 |
|
Cash generated from operations |
(3.179) |
(40.323) |
10.789 |
|
Net cash flow from operating activities |
(4.609) |
(40.730) |
10.532 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
301.65 |
263.45 |
278.45 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
1.21 |
1.39 |
1.31 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
429.13 |
397.92 |
1757.85 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.58 |
0.84 |
0.37 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.45 |
0.46 |
0.22 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.80 |
0.76 |
0.97 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.36 |
0.89 |
2.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
3.16 |
2.45 |
29.63 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.77 |
0.73 |
8.69 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.35 |
7.57 |
6.32 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
2.36 |
4.35 |
4.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.48 |
3.14 |
2.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
7.14 |
12.97 |
71.66 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
1.38 |
0.75 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.97 |
1.22 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.21 |
0.24 |
0.03 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.84 |
1.12 |
47.58 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.15 |
1.38 |
0.75 |
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 |
0.100 |
25.000 |
25.000 |
|
Reserves & Surplus |
2.250 |
6.311 |
8.716 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2.350 |
31.311 |
33.716 |
|
|
|
|
|
|
Long Term borrowings |
0.023 |
18.592 |
19.748 |
|
Short Term borrowings |
2.290 |
6.901 |
21.303 |
|
Current Maturities of Long term debt |
2.445 |
2.431 |
4.856 |
|
Total
borrowings |
4.758 |
27.924 |
45.907 |
|
Debt/Equity
ratio |
2.025 |
0.892 |
1.362 |
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
|
39.016 |
93.388 |
101.764 |
|
|
|
139.358 |
8.969 |
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
|
39.016 |
93.388 |
101.764 |
|
Profit |
1.684 |
4.061 |
2.406 |
|
|
4.32% |
4.35% |
2.36% |
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE COMPANY’S
AFFAIRS AND FUTURE OUTLOOK:
The Company achieved a turnover of INR 109.078 million as against turnover of INR 104.396 million during the previous year. The Company earned a profit of INR 6.617 million before providing for depreciation of INR 3.065 million.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Interest free loan from a director (Unsecured) There is no default as on balance sheet date in repayment of loans and
interest amounts |
6.555 |
6.901 |
|
Total |
6.555 |
6.901 |
INDEX OF CHARGE:
|
SN o |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G09175753 |
100043767 |
Canara Bank |
27/07/2016 |
- |
- |
20000000.0 |
INDUSTRIAL FINANCE BRANCH, 3-5-874/19/1 TO 3, BESIDE OLD MLA QUARTERS, HYDERGUDA, HYDERABAD- 500029, TELANGANA, INDIA |
|
2 |
C70699582 |
10603621 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
21/11/2015 |
- |
- |
43000000.0 |
1-9-194, CHIRAG ALI LANE, HYDERABAD-500001, TELANGANA, INDIA |
|
3 |
G30754766 |
10407285 |
SREI Equipment Finance Private Limited |
03/02/2013 |
- |
28/11/2016 |
5544026.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA 700046, WEST BENGAL, INDIA |
|
4 |
G15679020 |
10407286 |
SREI Equipment Finance Private Limited |
03/02/2013 |
- |
20/09/2016 |
648538.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA 700046, WEST BENGAL, INDIA |
|
5 |
G08557787 |
100033402 |
KOTAK MAHINDRA BANK LIMITED |
06/05/2016 |
- |
28/07/2016 |
10000000.0 |
27BKC, C 27, G BLOCK BANDRA KURLA COMPLEX, BANDRA (EAST),MUMBAI – 400051, MAHARASHTRA, INDIA |
|
6 |
C70155494 |
10361727 |
Canara Bank |
15/05/2012 |
- |
20/11/2015 |
7000000.0 |
OVERSEAS BRANCH, DAMAYANTHI CHAMBER SADARSH NAGAR, HYDERABAD – 500063, ANDHRA PRADESH, INDIA |
FIXED ASSETS:
Tangible Assets
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles
·
Office Equipment
·
Electrical Installment
·
Computer
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 63.71 |
|
|
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
PJP |
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.