|
|
|
MIRA INFORM REPORT
|
Report No. : |
484914 |
|
Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PATEL FURNACE AND FORGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4/B, Pravasi Estate, Veshweshwar Nagar, Goregaon (East), Mumbai -
400063, Maharashtra |
|
Tel. No.: |
91-22-28745525 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
25.08.1984 |
|
|
|
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Com. Reg. No.: |
11-033841 |
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|
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Capital
Investment / Paid-up Capital : |
INR 2.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U05000MH1984PTC033841 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAACP6213B |
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GSTIN/UIN : |
Not Divulged |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Shot Blasting Machines, Air Pollution Control
Equipment and Spares. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined 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 |
|
Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Patel Furnace and Forging Private Limited was incorporated in the year
1984. It is a manufacturer of shot blasting machines, air pollution control
equipment and spares. For the financial year ended 2017, the company has reported dip in its
revenue by 2.68% as compared to the previous year but has managed to maintain
an average profit margin of 4.47%. The sound financial risk profile of the company is marked by adequate
networth base along with negligible debt balance sheet profile. Rating takes into consideration the subject’s healthy Earnings Per
Share of INR 429.74 against the Face Value of INR 100. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. 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
|
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 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 DENIED BY
|
Name : |
Mr. Bhavin Desai |
|
Designation : |
Accountant |
|
Contact No.: |
91-9737061333 |
LOCATIONS
|
Registered Office : |
4/B, Pravasi Estate, Veshweshwar Nagar, Goregaon (East), Mumbai -
400063, Maharashtra, India |
|
Tel. No.: |
91-22-28745525/ 29271848/ 29272296 |
|
Mobile No.: |
91-9737061333 (Mr. Bhavin Desai) |
|
Fax No.: |
91-22-28741296 |
|
E-Mail : |
|
|
Website : |
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|
Area: |
10000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office/ Factory : |
Plot No. A/2-510, Makarpura, G.I.D.C. Industrial Estate, Vadodara –
390010, Gujarat, India |
|
Tel. No.: |
91-265-2644864 / 2640406 |
|
Fax No.: |
91-265-2643663 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Pravin Ambalal Patel |
|
Designation : |
Director |
|
Address : |
H- 205/206, Poonam Apartments, Shivsagar Estate, Dr. A.B. Road, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1939 |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
00406247 |
|
|
|
|
Name : |
Mr. Nipun Pravin Patel |
|
Designation : |
Director |
|
Address : |
A/205, Poonam Appartment, Annie Beasant Road, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
08.05.1974 |
|
Date of Appointment : |
21.04.1996 |
|
DIN No.: |
00406279 |
|
|
|
|
Name : |
Ms. Nandini Pravin Patel |
|
Designation : |
Director |
|
Address : |
H-205, Poonam Appartment, Shivsagar Estate, Dr. A.B. Road, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
18.05.1946 |
|
Date of Appointment : |
25.08.1985 |
|
DIN No.: |
00406307 |
KEY EXECUTIVES
|
Name : |
Mr. Bhavin Desai |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Pravin Ambalal Patel |
|
5070 |
|
Nandiniben Pravinbhai Patel |
|
9230 |
|
Nipun Pravinbhai Patel |
|
5600 |
|
Kinnari Pravinbhai Patel |
|
100 |
|
Total |
|
20000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Pravin Ambalal Patel |
|
480 |
|
Nandiniben Pravinbhai Patel |
|
520 |
|
Total |
|
1000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
99.50 |
|
Promoters [Individual/Hindu Undivided Family-Non-resident Indian (NRI)] |
0.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Shot Blasting Machines, Air Pollution Control Equipment
and Spares. (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 declined by the management |
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Bankers : |
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Facilities : |
Notes: Long-term
Borrowings Security
Provided Hypothecation of stock and bookdebts, pledge of TDRs for argin on
guarantee, further secured by extentions of equitable of lease hold rights on
immovable properties situated at Plot No. A. ‘510’, GIDC Industrial State,
Majarpura, Vadodara – 390010. Further secured by movable plant and machineries situated at Plot
No.A-2/510, GIDC Industrial State, Markapura, Vadodara – 390010. Further Secured by Personal Guarantee of Directors of the Company. Short-term
borrowings Hypothecation of stock and book debts, pledge of TDRs for margin on
guarantee. Further secured by extentions of equitable of lease hold rights on
immovable properties situated at Plot No.A-2/510, GIDC Industrial State,
Makarpura, Vadodara – 390010. Further secured by movable plant and machinaries situated at Plot
No.A-2/510, GIDC I Industrial State, Makarpura, Vadodara – 390010. Bank Over Draft against Term Deposit placed with Bank of India. |
|
Auditors : |
|
|
Name : |
Virendrakumar Ratanchand Shah and Associates Chartered Accountants |
|
Address : |
12, Dhayber Colony, B/H. Baroda High School, Near Pologround, Vadodara
– 390001, Gujarat, India |
|
Tel. No.: |
91-265-2423452 |
|
E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AFMPS4252H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates Concerns : |
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47500 |
Equity Shares |
INR 100/- each |
INR 4.750 Million |
|
2500 |
Preference Shares |
INR 100/- each |
INR 0.250 Million |
|
|
|
|
INR 5.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
INR 100/- each |
INR 2.000
Million |
|
1000 |
Preference Shares |
INR 100/- each |
INR 0.100 Million |
|
|
|
|
INR 2.100
Million |
FINANCIAL DATA
[all figures are
in 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 |
2.100 |
2.100 |
2.100 |
|
(b) Reserves & Surplus |
57.331 |
48.736 |
41.700 |
|
(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) |
59.431 |
50.836 |
43.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1.174 |
0.059 |
0.422 |
|
(b) Deferred tax liabilities (Net) |
1.368 |
1.328 |
1.073 |
|
(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) |
2.542 |
1.387 |
1.495 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
31.095 |
18.422 |
20.050 |
|
(b) Trade
payables |
23.296 |
23.165 |
27.306 |
|
(c) Other
current liabilities |
24.978 |
26.029 |
23.070 |
|
(d) Short-term
provisions |
7.465 |
6.071 |
2.432 |
|
Total Current
Liabilities (4) |
86.834 |
73.687 |
72.858 |
|
|
|
|
|
|
TOTAL |
148.807 |
125.910 |
118.153 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
18.278 |
17.390 |
16.510 |
|
(ii)
Intangible Assets |
0.044 |
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 |
0.061 |
0.061 |
0.061 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
0.038 |
0.075 |
0.711 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
18.421 |
17.526 |
17.282 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
75.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4.899 |
4.001 |
14.124 |
|
(c) Trade
receivables |
20.035 |
5.524 |
6.720 |
|
(d) Cash
and cash equivalents |
24.845 |
90.147 |
69.950 |
|
(e) Short-term
loans and advances |
3.104 |
5.138 |
4.321 |
|
(f) Other
current assets |
2.503 |
3.574 |
5.756 |
|
Total
Current Assets |
130.386 |
108.384 |
100.871 |
|
|
|
|
|
|
TOTAL |
148.807 |
125.910 |
118.153 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
192.247 |
197.551 |
170.450 |
|
|
Other Income |
5.034 |
7.220 |
5.987 |
|
|
TOTAL |
197.281 |
204.771 |
176.437 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
119.162 |
132.587 |
117.582 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.810) |
1.750 |
(0.700) |
|
|
Employees benefits expense |
25.356 |
24.097 |
19.953 |
|
|
Other expenses |
36.995 |
32.765 |
28.382 |
|
|
TOTAL |
180.703 |
191.199 |
165.217 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
16.578 |
13.572 |
11.220 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2.080 |
1.979 |
2.178 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
14.498 |
11.593 |
9.042 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.422 |
1.130 |
1.174 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
13.076 |
10.463 |
7.868 |
|
|
|
|
|
|
|
Less |
TAX |
4.481 |
3.464 |
2.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
8.595 |
6.999 |
5.368 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
17.570 |
17.849 |
11.665 |
|
|
TOTAL EARNINGS |
17.570 |
17.849 |
11.665 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Spares |
0.015 |
0.940 |
NA |
|
|
TOTAL IMPORTS |
0.015 |
0.940 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
429.70 |
349.90 |
268.40 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.602 |
0.779 |
1.950 |
|
Cash generated from operations |
(59.954) |
51.180 |
2.456 |
|
Net cash flow from operating activity |
(63.109) |
48.783 |
9.976 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
38.04 |
10.21 |
14.39 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
9.60 |
35.76 |
25.36 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
71.36 |
63.77 |
84.76 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
3.38 |
3.39 |
0.79 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.90 |
0.78 |
0.68 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.60 |
0.59 |
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.55 |
0.38 |
0.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.46 |
1.45 |
1.66 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.31 |
0.34 |
0.38 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
7.97 |
6.86 |
5.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
4.47 |
3.54 |
3.15 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.78 |
5.56 |
4.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.46 |
13.77 |
12.26 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.50 |
1.47 |
1.38 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.45 |
1.42 |
1.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.40 |
0.40 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
15.65 |
9.17 |
10.68 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.50 |
1.47 |
1.38 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
2.100 |
2.100 |
2.100 |
|
Reserves & Surplus |
41.700 |
48.736 |
57.331 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
43.800 |
50.836 |
59.431 |
|
|
|
|
|
|
long-term borrowings |
0.422 |
0.059 |
1.174 |
|
Short term borrowings |
20.050 |
18.422 |
31.095 |
|
Current Maturities of
Long term debt |
1.950 |
0.779 |
0.602 |
|
Total borrowings |
22.422 |
19.260 |
32.871 |
|
Debt/Equity ratio |
0.512 |
0.379 |
0.553 |
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 |
170.450 |
197.551 |
192.247 |
|
|
|
15.900 |
(2.685) |
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 |
170.450 |
197.551 |
192.247 |
|
Profit/(Loss) |
5.368 |
6.999 |
8.595 |
|
|
3.15% |
3.54% |
4.47% |
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 |
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 |
FINANCIAL RESULTS
The year was continued to be reasonably good for the company. However,
Sales, Other Operating Income and other Income have decreased by 3.65% as
compared to previous year sales. Due to recession in domestic as well as global
market, the sales prices of company’s product were remained under pressure.
Moreover, the fluctuation in Steel price, a basic Raw material, Increase in
Labour cost, Increase in Power Cost and increase in other input cost are the
main concerns for the company.
During the year, there is no change in the business activities of the
company.
INDEX
OF CHARGES
|
Charges Registered |
|||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G29541893 |
100065454 |
Bank of India |
30/11/2016 |
- |
1372000.0 |
Alkapuri Branch, 45 Gautam Nagar Society, Race Course Circle, Vadodara GUJARAT 390007 INDIA |
|
2 |
A87439428 |
10224510 |
Bank of India |
26/04/2010 |
- |
900000.0 |
Alkapuri Branch, 45 Gautam Nagar Society, Race Course Circle,Vadodara GUJARAT 390007 INDIA |
|
3 |
G56212764 |
10104728 |
Bank of India |
06/05/2008 |
25/09/2017 |
60113000.0 |
No. 45, Gautam Nagar Society, Race Course Circle, Alkapuri, Vadodara GUJARAT 390007 INDIA |
|
4 |
G56211436 |
10083632 |
Bank of India |
24/12/2007 |
25/09/2017 |
60113000.0 |
No. 45, Gautam Nagar Society, Race Course Circle, Alkapuri, Vadodara GUJARAT 390007 INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bank Guarantee |
|
|
|
Counter Bank Guarantee given to Bank of India |
7.619 |
11.587 |
FIXED ASSETS
- Factory Building
- Furniture and Fixtures
- Office Equipments
- Vehicles
- Computers
- Computer Software
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 63.38 |
|
|
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SUD |
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.