|
|
|
MIRA INFORM REPORT
|
Report No. : |
483508 |
|
Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
RAGHAV INDUSTRIES LIMITED |
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|
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|
Registered
Office : |
Plot No. 510, New Door No. 12 6th Main Road, M.K.B. Nagar,
Vysarpadi Chennai – 600039, Tamilnadu |
|
Tel. No.: |
91-422-3259034/ 35 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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|
|
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Date of
Incorporation : |
24.11.1987 |
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|
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Com. Reg. No.: |
18- 015077 |
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Capital
Investment / Paid-up Capital : |
INR 97.094 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93090TN1987PLC015077 |
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|
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IEC No.: |
Not Divulged |
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|
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GSTIN/UIN: |
27AAACR4686C1ZD |
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|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAACR4686C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Producer and
Exporter of yarn and fabrics. [Registered Activity] |
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|
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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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Maximum Credit Limit : |
USD 700000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Raghav Industries Limited was incorporated in the year 1987. It is a producer and exporter of yarn and fabrics. For the financial year 2017, the revenue of the company has increased by 1.68 along with profit margin of 0.28%. The sound financial profile of the company is marked by adequate networth base and favouarble gap between trade payables and trade receivables along with comfortable debt coverage indicators. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. Business is active. Payments are reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 01.01.2018
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
(91-422-3259034/35/91-11-32958730/23514914/9364100129/9312293777)
LOCATIONS
|
Registered Office : |
Plot No. 510, New Door No. 12 6th Main Road, M.K.B. Nagar,
Vysarpadi Chennai – 600039, Tamilnadu, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office: |
1st Floor, SIEMA Building, 8/4, Race Course, Near Thomas Park, Coimbatore – 641 018, Tamilnadu, India |
|
Tel. No.: |
91-422-3259034/ 35 |
|
|
|
|
Head office/ Export
Office/ Sales offices1: |
5, Chaturbhuj Jeevandas House, 285/287 Princess Street, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-40172900 / 40172922 / 40172925 |
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Fax No.: |
91-22-22062933 |
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E-Mail : |
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Production units: |
Ts No.7, Kattipalayam,
Tiruchengodu- Namakkal Main Road, Ela Nagar Post, |
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Tel. No.: |
91-4286-325444 |
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E-Mail : |
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Sales offices 2: |
4390, Gali Loton Jat, II Floor, Pahari Dhiraj, Sadar Bazaar, Delhi – 110 006 India |
|
Tel. No.: |
91-11-32958730 / 23514914 |
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E-Mail : |
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Sales offices 3: |
Shop No. 45, I Floor, City Palace, Chaury Sarak, Ludhiana-141 008, Punjab, India |
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Tel. No.: |
91-161-3241731 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rajendra Kumar Kanodia |
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Designation : |
Managing Director |
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Address : |
158 Krishna Talkies Road, Karungalpalayam, Erode -638003,
Tamilnadu, India |
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Date of Birth/Age : |
11.04.1962 |
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Qualification: |
Matric |
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Date of Appointment : |
24.11.1987 |
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DIN No.: |
00218499 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Raghav Kanodia |
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|
Designation : |
Director |
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Address : |
158 Krishna Talkies Road, Karungalpalayam, Erode -638003, Tamilnadu,
India |
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Date of Birth/Age : |
24.11.1983 |
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Qualification: |
Graduate |
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Date of Appointment : |
10.10.2005 |
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DIN No.: |
00218300 |
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Other Directorship:
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Name : |
Mrs. Madhu Devi Kanodia |
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Designation : |
Director |
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Address : |
1, DPF Lane Bharathiar Road, Pappanaickenpalayam,
Coimbatore – 641037, Tamilnadu, India |
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Date of Birth/Age : |
18.02.1964 |
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Qualification: |
Matric |
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Date of Appointment : |
31.08.2011 |
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DIN No.: |
03565757 |
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Other Directorship:
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MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Rajendra Kumar Kanodia |
|
2031860 |
|
Madhu Devi Kanodia |
|
3184380 |
|
Aarthi Kanodia |
|
14000 |
|
Archana Kanodia |
|
12200 |
|
Rajendra Kumar Kanodia (HUF) |
|
56000 |
|
Usha Devi Kanodia |
|
3324000 |
|
Ashok Kumar Kanodia |
|
416000 |
|
Ashok Kumar Kanodia (HUF) |
|
83100 |
|
Ashok Kumar Kanodia (HUF-B) |
|
21800 |
|
Raghav Kanodia |
|
94700 |
|
Pooja Kanodia |
|
88800 |
|
Kamadgiri Industries Limited |
|
230000 |
|
Makers Infotech Private Limited |
|
152600 |
|
Total |
|
9709440 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
96.06 |
|
Promoters- Body corporate |
3.94 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Producer
and Exporter of yarn and fabrics. [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 : |
Prem Gupta and Company Chartered Accountants |
|
Address : |
4, Shivaji Marg, Near Campa Cola,Najafgarh Road, New Delhi – 110015, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFP6102E |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
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|
Other related
parties in which key managerial personnel or their relatives have significant
influence : |
|
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9709440 |
Equity Shares |
INR 10/- each |
INR 97.094 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
97.094 |
97.094 |
97.094 |
|
(b) Reserves & Surplus |
149.451 |
145.445 |
143.952 |
|
(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) |
246.545 |
242.539 |
241.046 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
73.107 |
88.037 |
109.405 |
|
(b) Deferred tax liabilities
(Net) |
6.427 |
8.718 |
9.676 |
|
(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) |
79.534 |
96.755 |
119.081 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
292.436 |
291.495 |
272.468 |
|
(b) Trade payables |
160.437 |
189.365 |
200.916 |
|
(c) Other current liabilities |
33.573 |
31.373 |
60.109 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
486.446 |
512.233 |
533.493 |
|
|
|
|
|
|
TOTAL |
812.525 |
851.527 |
893.620 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
140.432 |
160.568 |
191.702 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
3.975 |
3.975 |
3.975 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
21.134 |
21.134 |
21.134 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.472 |
25.684 |
22.240 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
194.013 |
211.361 |
239.051 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
119.171 |
112.031 |
124.790 |
|
(c) Trade receivables |
375.693 |
397.576 |
395.021 |
|
(d) Cash and cash equivalents |
25.151 |
35.064 |
45.801 |
|
(e) Short-term loans and
advances |
80.318 |
73.554 |
68.456 |
|
(f) Other current assets |
18.179 |
21.941 |
20.501 |
|
Total
Current Assets |
618.512 |
640.166 |
654.569 |
|
|
|
|
|
|
TOTAL |
812.525 |
851.527 |
893.620 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1451.757 |
1427.734 |
1402.628 |
|
|
Other Income |
9.074 |
11.865 |
14.704 |
|
|
TOTAL |
1460.831 |
1439.599 |
1417.332 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1262.625 |
1195.841 |
1180.179 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(9.490) |
11.890 |
0.795 |
|
|
Employee benefit expense |
37.784 |
41.332 |
40.695 |
|
|
Other expenses |
95.756 |
107.051 |
108.785 |
|
|
TOTAL |
1386.675 |
1356.114 |
1330.454 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
74.156 |
83.485 |
86.878 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
49.812 |
53.930 |
54.053 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
24.344 |
29.555 |
32.825 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.629 |
29.019 |
30.753 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1.715 |
0.536 |
2.072 |
|
|
|
|
|
|
|
Less |
TAX |
(2.291) |
(0.958) |
(1.292) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
4.006 |
1.494 |
3.364 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
92.744 |
67.131 |
39.952 |
|
|
TOTAL EARNINGS |
92.744 |
67.131 |
39.952 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.41 |
0.15 |
0.35 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
31.501 |
28.760 |
57.976 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
48.068 |
63.641 |
114.050 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
48.068 |
63.641 |
114.050 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
94.46 |
101.64 |
102.79 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.86 |
3.59 |
3.55 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
46.38 |
57.80 |
62.14 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.62 |
0.75 |
0.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.51 |
0.51 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.73 |
0.74 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.61 |
1.68 |
1.82 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.97 |
2.11 |
2.21 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.59 |
0.68 |
0.81 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.49 |
1.55 |
1.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.28 |
0.10 |
0.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.49 |
0.18 |
0.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.62 |
0.62 |
1.40 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.27 |
1.25 |
1.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.03 |
1.03 |
0.99 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.30 |
0.28 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.09 |
4.21 |
4.53 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.27 |
1.25 |
1.23 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
97.094 |
97.094 |
97.094 |
|
Reserves & Surplus |
143.952 |
145.445 |
149.451 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
241.046 |
242.539 |
246.545 |
|
|
|
|
|
|
Long Term borrowings |
109.405 |
88.037 |
73.107 |
|
Short Term borrowings |
272.468 |
291.495 |
292.436 |
|
Current Maturities of Long term debt |
57.976 |
28.760 |
31.501 |
|
Total
borrowings |
439.849 |
408.292 |
397.044 |
|
Debt/Equity
ratio |
1.825 |
1.683 |
1.610 |
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
|
1402.628 |
1427.734 |
1451.757 |
|
|
|
1.790 |
1.683 |
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
|
1402.628 |
1427.734 |
1451.757 |
|
Profit |
3.364 |
1.494 |
4.006 |
|
|
0.24% |
0.10% |
0.28% |
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 |
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 |
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from directors |
2.794 |
0.000 |
|
Loans and advances from others |
40.201 |
0.000 |
|
Total |
42.995 |
0.000 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G52157484 |
10620074 |
THE FEDERAL BANK LIMITED |
01/12/2015 |
19/07/2017 |
- |
349300000.0 |
REGD. OFFICE AT ALWAYE, KERALABRANCH AT 22, PALANIAPPA STREETERODETN638009IN |
|
2 |
C53494472 |
10569115 |
PUNJAB NATIONAL BANK |
31/03/2015 |
- |
- |
100000000.0 |
774 OPPANAKARA STREETTOWNHALLCOIMBATORETN641001IN |
|
3 |
B35907773 |
10093496 |
STATE BANK OF INDIA |
15/02/2008 |
01/03/2012 |
- |
145000000.0 |
COMMERCIAL BRANCHERODETN638003IN |
|
4 |
B35905413 |
10093497 |
STATE BANK OF INDIA |
15/02/2008 |
01/03/2012 |
- |
110000000.0 |
COMMERCIAL BRANCHERODETN638003IN |
|
5 |
C14868335 |
90288862 |
THE FEDERAL BANK LIMITED |
02/03/1995 |
09/07/2014 |
- |
227000000.0 |
REGD. OFFICE AT ALWAYE, KERALABRANCH AT 22, PALANIAPPA STREETERODETN638009IN |
|
6 |
C76239896 |
90297674 |
FEDERAL BANK LTD |
09/11/1995 |
03/03/1997 |
22/12/2015 |
25000000.0 |
NETAJI ROADERODETNIN |
|
7 |
B80027675 |
90296593 |
CUMMINS INDIA LIMITED |
30/01/2004 |
- |
24/06/2013 |
14274225.0 |
KOTHRUDPUNEMH411038IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Furniture and fixtures
- Plant and equipment
- Computer equipments
- 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 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 64.93 |
|
|
1 |
INR 86.07 |
|
Euro |
1 |
INR 76.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
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.