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|
MIRA INFORM REPORT
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Report No. : |
483318 |
|
Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
POWER CONTROL ELECTRO SYSTEMS PRIVATE LIMITED |
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|
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Registered
Office : |
Plot No. E-31 and 32, MIDC, Kupwad, Sangli – 416436, Maharashtra |
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Tel. No.: |
91-233-2645630/2645640 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
11.07.2006 |
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Com. Reg. No.: |
11-128730 |
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Capital
Investment / Paid-up Capital : |
INR 11.000 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U32102PN2006PTC128730 |
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IEC No.: |
3107019810 |
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GSTIN/UIN: |
27AADCP9435A1ZJ |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCP9435A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Medium Voltage Switchgears. (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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Power control electro systems private limited was incorporated in the
year 2006. It is a manufacturer of electronic valves and tubes. For the financial year 2017, the revenue of the company has increased
by 4.98% along with profit margin of 0.08%. The moderate financial profile of the company is marked by low reserve
base as compared to its capital along with poor debt coverage indicators due
to high debt balance sheet profile. Payments are reported to be slow. In view of aforesaid, the company can be considered for business
dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
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.
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 02.01.2018
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.
LOCATIONS
|
Registered Office/Factory : |
Plot No. E-31 and 32, MIDC, Kupwad, Sangli – 416436, Maharashtra,
India |
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Tel. No.: |
91-233-2645630/2645640 |
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Fax No.: |
91-233-2645640 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Ajay Mahadev Jadhav |
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Designation : |
Managing Director |
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Address : |
39, Saraswatinagar, Opposite Udyog Bhavan, Behind Guest House, Sangli
– 416416, Maharashtra, India |
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Date of Birth/Age : |
18.04.1960 |
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Date of Appointment : |
22.04.2010 |
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DIN No.: |
00147116 |
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Other Directorship:
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Name : |
Mr. Sanjay Mahadev Jadhav |
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Designation : |
Director |
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Address : |
39, Saraswatinagar, Opposite Udyog Bhavan, Behind Guest House, Sangli
– 416416, Maharashtra, India |
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Date of Birth/Age : |
13.08.1962 |
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Date of Appointment : |
22.04.2010 |
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DIN No.: |
00147292 |
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Other Directorship:
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Name : |
Mr. Veejhay Bhalchandra Limaaye |
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Designation : |
Director |
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Address : |
303, Snehankit Apartment, Hiremath Lane, Miraj – 416410, Maharashtra,
India |
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Date of Birth/Age : |
26.05.1956 |
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Date of Appointment : |
11.07.2006 |
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DIN No.: |
00272415 |
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Other Directorship:
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Name : |
Mr. Chandrashekhar Bhalchandra Gole |
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Designation : |
Director |
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Address : |
Renuka Niwas, Vikas Chowk, South Shivaji Nagar, Sangli – 416416,
Maharashtra, India |
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Date of Birth/Age : |
01.05.1957 |
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Date of Appointment : |
16.07.2007 |
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DIN No.: |
00346249 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Veejhay Limaaye |
|
19000 |
|
Chandrashekhar Gole |
|
2000 |
|
Shraddha Jadhav |
|
2500 |
|
Ajay Jadhav |
|
18900 |
|
Amey Jadhav |
|
500 |
|
Shobhana Jadhav |
|
2000 |
|
Sanjay Jadhav |
|
19100 |
|
Jsons Holding Private Limited, India |
|
45000 |
|
Rohan Gole |
|
1000 |
|
Total |
|
110000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
59.09 |
|
Promoters- Body corporate |
40.91 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Medium Voltage Switchgears. (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 : |
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Facilities : |
(INR
In Million)
|
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Auditors : |
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|
Name : |
S. A. Badamikar and Company Chartered Accountants |
|
Address : |
Flat No. 4, Mahalaxmi Complex, Behind Sangli DCC Bank, Pushparaj
Chowk, South Shivaji Nagar, Sangli – 416416, Maharashtra, India |
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Mobile No.: |
91-7410000756 |
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E-Mail : |
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Income-tax PAN
of auditor or auditor's firm : |
AHTPB3660K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
·
Jsons Foundry Private Limited ·
Jsons Holding Private Limited ·
Western Precicast Private Limited |
|
|
|
|
Firm in which
directors are Partners : |
·
Suraj Engineering Works |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
INR 100/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000 |
Equity Shares |
INR 100/- each |
INR 11.000 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 |
11.000 |
11.000 |
11.000 |
|
(b) Reserves &
Surplus |
8.901 |
8.742 |
6.636 |
|
(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) |
19.901 |
19.742 |
17.636 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
50.322 |
41.740 |
51.520 |
|
(b) Deferred tax liabilities
(Net) |
7.261 |
4.343 |
3.593 |
|
(c) Other long term
liabilities |
0.100 |
0.150 |
0.200 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
57.683 |
46.233 |
55.313 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
109.360 |
122.201 |
40.754 |
|
(b) Trade payables |
50.176 |
41.839 |
38.339 |
|
(c) Other current
liabilities |
12.436 |
13.234 |
6.454 |
|
(d) Short-term provisions |
2.849 |
4.500 |
11.817 |
|
Total Current Liabilities
(4) |
174.821 |
181.774 |
97.364 |
|
|
|
|
|
|
TOTAL |
252.405 |
247.749 |
170.313 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
66.938 |
68.348 |
35.341 |
|
(ii) Intangible Assets |
5.010 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
1.922 |
2.672 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
52.204 |
5.218 |
6.335 |
|
(e) Other Non-current
assets |
0.000 |
2.644 |
12.526 |
|
Total Non-Current Assets |
124.652 |
78.632 |
57.374 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
35.235 |
86.155 |
76.374 |
|
(c) Trade receivables |
83.250 |
20.658 |
29.501 |
|
(d) Cash and cash
equivalents |
4.354 |
1.852 |
5.291 |
|
(e) Short-term loans and
advances |
3.791 |
60.449 |
1.769 |
|
(f) Other current assets |
1.123 |
0.003 |
0.004 |
|
Total Current Assets |
127.753 |
169.117 |
112.939 |
|
|
|
|
|
|
TOTAL |
252.405 |
247.749 |
170.313 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
208.013 |
198.142 |
186.320 |
|
|
Other Income |
5.519 |
0.886 |
1.464 |
|
|
TOTAL |
213.532 |
199.028 |
187.784 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
138.909 |
139.469 |
143.314 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.241 |
(10.167) |
(17.746) |
|
|
Employees benefits
expense |
24.745 |
20.019 |
17.017 |
|
|
Other expenses |
27.929 |
30.386 |
27.722 |
|
|
TOTAL |
191.824 |
179.707 |
170.307 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
21.708 |
19.321 |
17.477 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
14.180 |
13.772 |
13.177 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7.528 |
5.549 |
4.300 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.727 |
2.323 |
2.307 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
3.801 |
3.226 |
1.993 |
|
|
|
|
|
|
|
Less |
TAX |
3.643 |
1.120 |
0.837 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.158 |
2.106 |
1.156 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3.906 |
0.501 |
6.296 |
|
|
Components and Stores
parts |
0.645 |
8.617 |
0.000 |
|
|
TOTAL IMPORTS |
4.551 |
9.118 |
6.296 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.44 |
19.14 |
10.5 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
7.622 |
7.075 |
3.096 |
|
Cash generated from operations |
25.245 |
(31.740) |
6.096 |
|
Net cash flows from (used in) operations |
21.601 |
(32.110) |
5.716 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
146.08 |
38.05 |
57.79 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.50 |
9.59 |
6.32 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
131.84 |
109.50 |
97.64 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.62 |
0.22 |
0.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.30 |
0.27 |
0.46 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.92 |
0.93 |
0.89 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
8.41 |
8.66 |
5.41 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
8.78 |
9.21 |
5.52 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
3.62 |
3.56 |
2.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.53 |
1.40 |
1.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.08 |
1.06 |
0.62 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.06 |
0.85 |
0.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.79 |
10.67 |
6.55 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.73 |
0.93 |
1.16 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.53 |
0.46 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.08 |
0.08 |
0.10 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
15.21 |
15.55 |
8.67 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.73 |
0.93 |
1.16 |
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 |
11.000 |
11.000 |
11.000 |
|
Reserves & Surplus |
6.636 |
8.742 |
8.901 |
|
Net worth |
17.636 |
19.742 |
19.901 |
|
|
|
|
|
|
long-term borrowings |
51.520 |
41.740 |
50.322 |
|
Short term borrowings |
40.754 |
122.201 |
109.360 |
|
Current Maturities of
Long term debt |
3.096 |
7.075 |
7.622 |
|
Total borrowings |
95.370 |
171.016 |
167.304 |
|
Debt/Equity ratio |
5.408 |
8.663 |
8.407 |
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 |
186.320 |
198.142 |
208.013 |
|
|
|
6.345 |
4.982 |
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 |
186.320 |
198.142 |
208.013 |
|
Profit/(Loss) |
1.156 |
2.106 |
0.158 |
|
|
0.62% |
1.06% |
0.08% |
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 |
No |
|
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 |
Note: Registered office
of the company has been shifted from “6, Peth Bhag, Near Ganpati Temple, Sangli
-416416, Maharashtra, India” to the present address w.e.f.31.12.2007
STATE OF COMPANY’S
AFFAIRS
During the year, the turnover and profit of the company has increased as
compared to the previous year. The Board feels that the overall performance of
the company is satisfactory.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
|
|
|
Ajay Mahadev Jadhav |
13.446 |
11.503 |
|
Jsons Foundry Private Limited (Deposit A/c) |
10.709 |
0.000 |
|
Jsons Holding Private Limited |
10.724 |
9.562 |
|
Sanjay Mahadev Jadhav |
8.807 |
7.853 |
|
Suraj Engineering Works |
3.368 |
3.003 |
|
Western Precicast Private Limited (Deposit) |
0.000 |
0.214 |
|
Total |
47.054 |
32.135 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C81162323 |
10624649 |
RAJARAMBAPU SAHAKARI BANK LIMITED |
15/02/2016 |
- |
- |
4657000.0 |
PETH, TAL. WALVASANGLIMH415407IN |
|
2 |
G24863607 |
100063055 |
RAJARAMBAPU SAHAKARI BANK LIMITED |
12/02/2016 |
- |
- |
2250000.0 |
PETH, RAJWADA CHOWK,SANGLIMH416416IN |
|
3 |
C67496463 |
10594060 |
RAJARAMBAPU SAHAKARI BANK LIMITED |
29/06/2015 |
03/07/2015 |
- |
7500000.0 |
PETH, TAL. WALVASANGLIMH415407IN |
|
4 |
C65707663 |
10565159 |
RAJARAMBAPU SAHAKARI BANK LIMITED |
31/03/2015 |
29/06/2015 |
- |
3780000.0 |
PETH, TAL. WALVASANGLIMH415407IN |
|
5 |
C65706822 |
10565155 |
RAJARAMBAPU SAHAKARI BANK LIMITED |
31/03/2015 |
29/06/2015 |
- |
3140000.0 |
PETH, TAL. WALVASANGLIMH415407IN |
|
6 |
C81161549 |
10565162 |
RAJARAMBAPU SAHAKARI BANK LIMITED |
31/03/2015 |
15/02/2016 |
- |
60000000.0 |
PETH, TAL. WALVASANGLIMH415407IN |
|
7 |
G28674372 |
10594062 |
RAJARAMBAPU SAHAKARI BANK LIMITED |
29/06/2015 |
04/07/2015 |
22/11/2016 |
12210000.0 |
PETH, TAL. WALVASANGLIMH415407IN |
|
8 |
C51661643 |
10275602 |
AXIS BANK LIMITED |
18/03/2011 |
15/06/2013 |
22/04/2015 |
58610000.0 |
SANGLI BRANCH, AMBRAI ROADHOTEL LOTUS BUILDING, NEAR LIC BUILDINGSANGLIMH416416IN |
|
9 |
B11334786 |
10067399 |
IDBI BANK LIMITED |
21/08/2007 |
09/10/2009 |
25/04/2011 |
26000000.0 |
SANGLI BRANCH, OPP. ZILHA PARISHAD, SANGLIDIST : SANGLISANGLIMH416416IN |
|
10 |
B11336054 |
10065284 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
13/08/2007 |
- |
25/04/2011 |
20000000.0 |
SANGLI BRANCHOPP. ZILHA PARISHADSANGLIMH416416IN |
FIXED ASSETS:
·
Plot
·
Building
·
Plant and Machinery
·
Electric Fittings
·
Furniture
·
Office Equipment
·
Computer
·
Vehicle
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 63.66 |
|
|
1 |
INR 85.89 |
|
Euro |
1 |
INR 76.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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.