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|
MIRA INFORM REPORT
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Report No. : |
484356 |
|
Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KEJ MINERALS PRIVATE LIMITED |
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|
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|
Registered
Office : |
New No. 7 (PID No.2-177-7) (Old No. 24), 5th Cross, Sri Raghvendra Layout, Yeshwanthpur, Tumkur Road, Bangalore – 560022, Karnataka |
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Tel. No.: |
91-80-23377019 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.05.2008 |
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|
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Com. Reg. No.: |
08-046604 |
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Capital
Investment / Paid-up Capital : |
INR 26.250 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U13100KA2008PTC046604 |
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|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm does
not have export and import) |
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GSTIN : |
29AADCK3878L1ZU |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCK3878L |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Iron Ore and Beneficiated Iron Ore. [Registered activity and also
confirmed by management] |
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|
|
|
No. of Employees
: |
80 (Approximately) |
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 |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 2008. It is a manufacturer of
iron ore and beneficiated iron ore. As per the financial of 2017, the revenue of the company has increased
by 21.36% along with an average net profit margin of 1.51%. The overall financial position of the company seems to be satisfactory
marked by adequate net worth base along with average debt level and modest
liquidity position. Business is active. 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 condition. |
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 06.01.2018.
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 PARTED BY
|
Name : |
Mr. Manish Gupta |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9686682713 |
|
Date : |
05.01.2018 |
LOCATIONS
|
Registered Office : |
New No. 7 (PID No.2-177-7) (Old No. 24), 5th Cross, Sri Raghvendra Layout, Yeshwanthpur, Tumkur Road, Bangalore – 560022, Karnataka, India |
|
Tel. No.: |
91-80-23377019/ 23475154/55 |
|
Mobile No.: |
91-9686682713 (Mr. Manish Gupta) |
|
Fax No.: |
91-80-23375377 |
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E-Mail : |
|
|
Location : |
Rented |
|
Location : |
Industrial |
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|
|
|
Factory : |
Survey No.27/1 and 27/2, Old Lingadahalli Road, Taranagar, Sandur Taluka,
Bellary District – 583119, Karnataka, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Narottam Kejriwal |
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|
Designation : |
Whole-time Director |
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Address : |
B-31, 2nd Floor, Fascinate Homes, 6th Main, 12th cross, Malleswaram, Bangalore – 560003, Karnataka, India |
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Date of Birth/Age : |
13.02.1958 |
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Date of Appointment : |
29.05.2008 |
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DIN No.: |
02153741 |
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|
||||||||||||
|
Name : |
Mr. Shailesh Kumar Agarwal |
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Designation : |
Director |
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Address : |
Plot No. 21, 1st Cross, Hospet – 583201, Karnataka, India |
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Date of Birth/Age : |
05.03.1979 |
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Date of Appointment : |
25.10.2014 |
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DIN No.: |
00908552 |
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Other Directorship:
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|
||||||||||||
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Name : |
Mr. Arun Kejriwal |
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|
Designation : |
Director |
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|
Address : |
B-31, 2nd Floor, Fascinate Homes, 6th Main, 12th Cross, Malleswaram, Bangalore – 560003, Karnataka, India |
||||||||||||
|
Date of Birth/Age : |
16.11.1985 |
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Date of Appointment : |
29.05.2008 |
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DIN No.: |
02153752 |
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KEY EXECUTIVES
|
Name : |
Mr. Manish Gupta |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Narottam Kejriwal |
1195000 |
45.52 |
|
Arun Kejriwal |
795000 |
30.29 |
|
Kusum Kejriwal |
135000 |
5.14 |
|
Shailesh Kumar Agarwal |
500000 |
19.05 |
|
Total |
2625000 |
100.00 |
AS ON 30.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
75.81 |
|
Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
24.19 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Iron Ore and Beneficiated Iron Ore. [Registered activity and also confirmed
by management] |
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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 : |
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Selling : |
NEFT/ RTGS |
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Purchasing : |
OD |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users, and Manufacturer
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
P K Rungta and Company Chartered Accountants |
|
Address : |
D-1, Jyothi Complex, # 134/1, Infantry Road, Bangalore – 560001,
Karnataka, India |
|
Tel. No.: |
91-80-22863074 / 22864890 |
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Fax No.: |
91-80-22866929 |
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E-Mail.: |
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Income-tax
PAN of auditor or auditor's firm : |
AASFP1372J |
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Memberships : |
Not Available |
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|
Collaborators : |
Not Available |
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Relatives of key management personnel and their enterprises : |
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2625000 |
Equity Shares |
INR 10/- each |
INR 26.250 Million |
|
|
|
|
|
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 |
26.250 |
26.250 |
25.000 |
|
(b) Reserves &
Surplus |
72.517 |
65.798 |
55.740 |
|
(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
|
98.767 |
92.048 |
80.740 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
57.108 |
25.350 |
9.608 |
|
(b) Deferred tax
liabilities (Net) |
7.469 |
6.145 |
5.928 |
|
(c) Other long term
liabilities |
2.056 |
5.056 |
12.256 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities |
66.633 |
36.551 |
27.792 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
206.235 |
119.766 |
39.451 |
|
(b) Trade payables |
13.739 |
12.493 |
14.798 |
|
(c) Other current
liabilities |
30.362 |
18.716 |
14.784 |
|
(d) Short-term provisions |
0.000 |
0.000 |
6.959 |
|
Total Current Liabilities
|
250.336 |
150.975 |
75.992 |
|
|
|
|
|
|
TOTAL |
415.736 |
279.574 |
184.524 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
123.123 |
75.196 |
82.466 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
2.136 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.020 |
0.020 |
0.020 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.274 |
1.067 |
1.075 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
126.553 |
76.283 |
83.561 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
123.402 |
84.873 |
34.243 |
|
(c) Trade receivables |
112.403 |
64.293 |
47.530 |
|
(d) Cash and cash
equivalents |
11.235 |
1.880 |
1.992 |
|
(e) Short-term loans and
advances |
42.143 |
52.245 |
17.198 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
289.183 |
203.291 |
100.963 |
|
|
|
|
|
|
TOTAL |
415.736 |
279.574 |
184.524 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
443.769 |
365.653 |
772.902 |
|
|
Other Income |
2.559 |
4.557 |
0.598 |
|
|
TOTAL |
446.328 |
370.210 |
773.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
369.373 |
298.110 |
635.554 |
|
|
Purchases of
Stock-in-Trade |
8.150 |
0.000 |
0.000 |
|
|
Manufacturing and
operating cost |
16.336 |
22.042 |
27.879 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.361) |
(16.115) |
9.071 |
|
|
Employees benefits
expense |
12.002 |
14.808 |
19.665 |
|
|
Other expenses |
35.215 |
20.777 |
21.999 |
|
|
TOTAL |
405.715 |
339.622 |
714.168 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
40.613 |
30.588 |
59.332 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
16.298 |
12.870 |
6.703 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
24.315 |
17.718 |
52.629 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
13.727 |
7.945 |
9.323 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
10.588 |
9.773 |
43.306 |
|
|
|
|
|
|
|
Less |
TAX |
3.869 |
3.465 |
15.114 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
6.719 |
6.308 |
28.192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Stores and consumables |
0.046 |
0.377 |
0.000 |
|
|
Capital Goods |
0.000 |
0.000 |
1.072 |
|
|
TOTAL IMPORTS |
0.046 |
0.377 |
1.072 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.56 |
2.40 |
11.28 |
Expected Sales (2017-2018): INR 550.000 Million (Due to business growth)
The above information has been parted by Mr. Manish Gupta (Finance
Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
12.147 |
4.048 |
0.704 |
|
Cash generated from operations |
NA |
(0.296) |
42.513 |
|
Net cash flow from operating activities |
NA |
(3.543) |
29.016 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
92.45 |
64.18 |
22.45 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
3.95 |
5.69 |
16.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
13.28 |
15.30 |
8.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.33 |
0.36 |
1.73 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.32 |
0.41 |
0.72 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.77 |
0.65 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.79 |
1.62 |
0.62 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.53 |
1.64 |
0.94 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.27 |
0.82 |
1.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.49 |
2.38 |
8.85 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
1.51 |
1.73 |
3.65 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.62 |
2.26 |
15.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.80 |
6.85 |
34.92 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.16 |
1.35 |
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.66 |
0.78 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.33 |
0.44 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
10.49 |
5.68 |
1.99 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.16 |
1.35 |
1.33 |
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 |
25.000 |
26.250 |
26.250 |
|
Reserves & Surplus |
55.740 |
65.798 |
72.517 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
80.740 |
92.048 |
98.767 |
|
|
|
|
|
|
long-term borrowings |
9.608 |
25.350 |
57.108 |
|
Short term borrowings |
39.451 |
119.766 |
206.235 |
|
Current Maturities of
Long term debt |
0.704 |
4.048 |
12.147 |
|
Total borrowings |
49.763 |
149.164 |
275.490 |
|
Debt/Equity ratio |
0.616 |
1.621 |
2.789 |
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 |
772.902 |
365.653 |
443.769 |
|
|
|
(52.691) |
21.363 |
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 |
772.902 |
365.653 |
443.769 |
|
Profit |
28.192 |
6.308 |
6.719 |
|
|
3.65% |
1.73% |
1.51% |
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 |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 17, D Block, Sri Raghavendra Layout, Tumkur Road, Yeshwanthapur,
Bangalore – 560022, Karnataka, India to the present address w.e.f. 15.03.2017.
FINANCIAL RESULTS:
The company has
achieved net sales of INR 443.700 million for the year ending on 31st
March, 2017 as compared to INR 365.600 million in the previous year, resulting
to rise of 21% jump in revenue of the company. The financial year 2016-17 saw
dynamic strategical path framed by directors to bring on track the sales
turnover to the growing path. The company’s turnout was mainly because this
year, company has generated good revenue from transport income and vehicle
lease income apart from TMT trading sales. The board has its view that in years
to come they can easily achieve 1000.000 million benchmark in topline.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
From directors |
27.468 |
10.013 |
|
Total |
27.468 |
10.013 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G38819348 |
100084568 |
BANK OF BARODA |
08/03/2017 |
- |
20000000.0 |
APMC Yard Branch, No.45, Yeshwantpur, Tumkur Road, Bangalore-560022, Karnataka, India |
|
2 |
G01821859 |
100020976 |
HDFC BANK LIMITED |
30/03/2016 |
- |
18937600.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
3 |
C53944773 |
10149565 |
Bank of Baroda |
07/03/2009 |
14/05/2015 |
101500000.0 |
APMC Yard Branch, No.45, Yeshwantpur, Tumkur Road, Bangalore-560022, Karnataka, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bank guarantee outstanding at close of the year |
10.500 |
1.500 |
|
Custom duty on EPG for non exporting |
5.791 |
5.791 |
|
FDT Payable |
0.000 |
0.826 |
FIXED ASSETS:
- Land and Land Development
- Factory Building
- Plant and Machinery
- Furniture and Fixture
- Electrical Installation
- Office Equipment’s
- Computers
- Vehicles
- Weigh Bridge
- D G Set
- Borewell
- Lab Equipment
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 63.38 |
|
|
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.