|
|
|
MIRA INFORM REPORT
|
Report No. : |
494209 |
|
Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUCHI FOAMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
25, Uganda Co-Operative Housing Society, Near A-One School, Gurukul, Memnagar, Ahmedabad -380052, Gujarat |
|
Tel. No.: |
91-2764-268361 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
21.03.2005 |
|
|
|
|
Com. Reg. No.: |
04-045744 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 11.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17210GJ2005PTC045744 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0805016651 |
|
|
|
|
TIN No.: |
24074204183 |
|
|
|
|
GSTIN : [Goods & Service Tax
Registration No.] |
24AAECM1977D1ZM |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS14789F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM1977D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of insulated Doors,
Prefabricated Sandwich Rigid PUF panels for Cold Storages, Refrigerated van,
walk in coolers and other application with latest technology and advances
features.
(Registered Activity and also Confirmed by Management) |
|
|
|
|
No. of Employees
: |
32 (Approximately) (Office = 7 + Factory = 25) |
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 : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Suchi Foams private Limited was incorporated in the year 2005. It is engaged in manufacturing of insulated doors, prefabricated sandwich rigid PUF panels for cold storages, refrigerated van, walk-in coolers, etc. Management has failed to file its financials with the Registrar of companies for the FY 2017. For the financial year 2016, the company has reported dip in its revenue as compared to the previous year but has managed to maintain an average profit margin of 2.08%. The satisfactory financial risk profile of the company is marked by sufficient and improving net worth base along with negligible debt balance sheet profile. Payments are reported to be slow but 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
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 26.02.2018
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.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Kamlesh Babubhai Amin |
|
Designation : |
Director |
|
Contact No.: |
91-9825689082 |
|
Date : |
26.02.2018 |
|
Name : |
Mr. Nilesh Patel |
|
Designation : |
Accountant |
|
Contact No.: |
91-2764-268361 |
|
Date : |
26.02.2018 |
LOCATIONS
|
Registered Office : |
25, Uganda Co-Operative Housing Society, Near A-One School, Gurukul, Memnagar, Ahmedabad -380052, Gujarat, India |
|
Tel. No.: |
91-2764-268361, 286167, 286166 |
|
Mob. No: |
91-9825689082 (Mr. Kamlesh Babubhai Amin) |
|
Fax No.: |
91-2764-286427 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory: |
Plot No.489, Bhagya Laxmi Estate, Opposite Sarthi Pharma, Behind Manpasand Weigh Bridge, Rakanpur - Santej Road, Rakanpur, Taluka Kalol, District Gandhinagar-382721, Gujarat, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Himanshu Babubhai Amin |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
3, President Park, Hebatpur Road, Thaltej Shilaj Road, Thaltej, Ahmedabad- 380059, Gujarat, India |
||||||||
|
Date of Birth/Age : |
08.03.1963 |
||||||||
|
Date of Appointment : |
21.03.2005 |
||||||||
|
PAN No.: |
ABKPA6570C |
||||||||
|
DIN No.: |
01719984 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Kamlesh Babubhai Amin |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
25, Uganda, Co-Operative Housing Society, Near A-One School, Gurukul, Memnagar, Ahmedabad -380052, Gujarat, India |
||||||||
|
Date of Birth/Age : |
23.11.1964 |
||||||||
|
Date of Appointment : |
21.03.2005 |
||||||||
|
PAN No.: |
ABKPA0839N |
||||||||
|
DIN No.: |
01724004 |
||||||||
|
Other Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mrs. Chetnaben Himanshu Amin |
||||||||
|
Designation : |
Additional Director |
||||||||
|
Address : |
C-38, Greenwood Society, Opposite Survoday Part-2, Near Sola Railway Crossing, Sola Road, Ahmedabad -380061, Gujarat, India |
||||||||
|
Date of Birth/Age : |
27.12.1962 |
||||||||
|
Date of Appointment : |
15.10.2007 |
||||||||
|
PAN No.: |
ADMPA2218H |
||||||||
|
DIN No.: |
01743055 |
||||||||
KEY EXECUTIVE
|
Name : |
Mr. Nilesh Patel |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2016
|
Names of Shareholders |
No. of Shares |
|
Himanshu B. Amin |
622500 |
|
Chetnaben H. Amin |
140000 |
|
Kamlesh B. Amin |
100000 |
|
Manisha B. Amin |
21000 |
|
Bhavnaben D. Desai |
55000 |
|
Himanshu B. Amin (H.U.F) |
60000 |
|
Kamlesh B. Amin (H.U.F) |
40000 |
|
Devendra J. Desai |
10000 |
|
Balvant K. Patel |
9000 |
|
Jigishbhai B. Amin |
10000 |
|
Jyotikaben J. Amin |
10000 |
|
Dhvani K. Amin |
7500 |
|
Paragi K. Amin |
25000 |
|
Parth J. Amin |
10000 |
|
Shailesh D. Patel |
15000 |
|
Suchi H. Amin |
10000 |
|
Vidhyaben B. Amin |
15000 |
|
Total |
1160000 |
AS ON: 30.09.2016
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoter - Individual/Hindu Undivided Family - Indian |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer, Exporter and Importer of insulated Doors,
Prefabricated Sandwich Rigid PUF panels for Cold Storages, Refrigerated van, walk
in coolers and other application with latest technology and advances
features.
(Registered Activity and also Confirmed by Management) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
Kenya |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
Italy |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cheque |
||||
|
|
|
||||
|
Purchasing : |
Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Retailers and End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
32 (Approximately) (Office = 7 + Factory = 25) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Mukesh O. Parikh and Company Chartered Accountants |
|
Address : |
406, Panorama Complex, Near Diamond Square Building, Navajivan Press
Road, Ashram Road, Ahmedabad -380014,
Gujarat, India |
|
PAN No.: |
AASAA2728G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/ Subsidiary: |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
INR 10/- each |
INR 12.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1160000 |
Equity Shares |
INR 10/- each |
INR 11.600
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
11.600 |
11.600 |
11.600 |
|
(b) Reserves & Surplus |
16.351 |
13.548 |
16.045 |
|
(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) |
27.951 |
25.148 |
27.645 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
23.916 |
26.870 |
25.437 |
|
(b) Deferred tax liabilities (Net) |
1.340 |
2.534 |
4.785 |
|
(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) |
25.256 |
29.404 |
30.222 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
10.903 |
13.931 |
8.584 |
|
(c) Other current
liabilities |
1.669 |
1.477 |
6.717 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
12.572 |
15.408 |
15.301 |
|
|
|
|
|
|
TOTAL |
65.779 |
69.960 |
73.168 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
21.865 |
28.472 |
37.450 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.350 |
0.351 |
0.350 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
22.215 |
28.823 |
37.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
8.085 |
10.250 |
9.856 |
|
(c) Trade receivables |
13.501 |
18.579 |
13.660 |
|
(d) Cash
and cash equivalents |
19.697 |
11.316 |
11.230 |
|
(e)
Short-term loans and advances |
2.281 |
0.992 |
0.622 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
43.564 |
41.137 |
35.368 |
|
|
|
|
|
|
TOTAL |
65.779 |
69.960 |
73.168 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
134.680 |
157.700 |
98.539 |
|
|
Other Income |
1.330 |
0.820 |
0.971 |
|
|
TOTAL
|
136.010 |
158.520 |
99.510 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
105.164 |
136.106 |
80.777 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.165 |
(0.395) |
0.662 |
|
|
Employees benefits expense |
4.790 |
4.787 |
5.009 |
|
|
Other expenses |
12.142 |
8.903 |
6.006 |
|
|
TOTAL |
124.261 |
149.401 |
92.454 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
11.749 |
9.119 |
7.056 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.863 |
3.700 |
2.351 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.886 |
5.419 |
4.705 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
6.277 |
10.167 |
1.742 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.609 |
(4.748) |
2.963 |
|
|
|
|
|
|
|
Less |
TAX |
(1.194) |
(2.251) |
0.469 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.803 |
(2.497) |
2.494 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.548 |
16.045 |
13.551 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
16.351 |
13.548 |
16.045 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
2.42 |
(2.15) |
2.15 |
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
150.000 |
Expected Sales (2017-2018): INR 180.000 Million
The above information has been parted by Mr. Nilesh Patel (Accountant)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
14.867 |
3.542 |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
14.867 |
3.542 |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
36.59 |
43.00 |
50.60 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
9.98 |
8.49 |
7.21 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
37.84 |
37.36 |
38.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.45 |
0.89 |
0.72 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.54 |
0.32 |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.55 |
0.60 |
0.56 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.86 |
1.07 |
0.92 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.45 |
0.61 |
0.55 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.78 |
1.13 |
1.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.04 |
2.46 |
3.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin (PAT / Sales) * 100) |
% |
2.08 |
(1.58) |
2.53 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.26 |
(3.57) |
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.03 |
(9.93) |
9.02 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.47 |
2.67 |
2.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
2.82 |
2.00 |
1.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.42 |
0.36 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.06 |
2.32 |
2.19 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.47 |
2.67 |
2.31 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
11.600 |
11.600 |
11.600 |
|
Reserves & Surplus |
16.045 |
13.548 |
16.351 |
|
Net worth |
27.645 |
25.148 |
27.951 |
|
|
|
|
|
|
Long-term borrowings |
25.437 |
26.870 |
23.916 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
25.437 |
26.870 |
23.916 |
|
Debt/Equity ratio |
0.920 |
1.068 |
0.856 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
98.539 |
157.700 |
134.680 |
|
|
|
60.038 |
(14.597) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
98.539 |
157.700 |
134.680 |
|
Profit/ (Loss) |
2.494 |
(2.497) |
2.803 |
|
|
2.53% |
(1.58%) |
2.08% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
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 |
FINANCIAL HIGHLIGHTS
During the year, the Company has registered a total profit of INR 2.803 million. The company is planning to achieve greater heights in the coming future. The management is actively considering the available opportunities to explore the business venture in the coming years.
INDUSTRY’S SCENARIO
AND STATE OF COMPANY’S AFFAIRS
Subject the Company was established in 2005 as Private Company engaged, Inter-alia, in the area of Manufacturing of insulated Doors, Prefabricated Sandwich Rigid PUF panels for Cold Storages, Refrigerated van, walk in coolers and other application with latest technology and advances features.
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Shareholders and their Relatives |
24.473 |
26.434 |
|
Total |
24.473 |
26.434 |
INDEX OF CAHREGS:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B82663477 |
10472550 |
AXIS BANK LIMITED |
08/06/2013 |
- |
- |
17000000.0 |
TRISHUL, 3RD FLOOR, OPPOSITE SOMESHWAR TEMPLE,
LAW GARDEN, ELLISBRIDGE, AHMEDABAD-380006, GUJARAT, INDIA |
|
2 |
B72036569 |
10075925 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
15/10/2007 |
11/02/2011 |
22/03/2013 |
32500000.0 |
NAVJIVAN AMRIT JAYANTI BHAVANIST FLOOR, NAVJIVAN P.O.,
AHMEDABAD-380014, GUJARAT INDIA |
|
3 |
A21875794 |
10007892 |
PROGRESSIVE MERCHENTILE CO OP BANK LTD |
22/06/2006 |
- |
27/08/2007 |
2500000.0 |
PROGRESSIVE BANK BHAVAN, 670/1 MOTILAL HIRABHAI MARKET, STATION ROAD,
AHMEDABAD-380002, GUJARAT, INDIA |
FIXED ASSETS:
- Activa
- Air Conditioner
- CC Camera
- Computer
- Electrical Installation
- Building
- Furniture and Fixture
- Land
- Mobile
- Motor Car
- Tools and Dies
- Water Cooler
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 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 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
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.