|
|
|
MIRA INFORM REPORT
|
Report No. : |
486723 |
|
Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
BIRDY EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 25, 2nd Cross, 3rd Main, Industrial Suburb, Yeshwanthpur,
Bangalore-560022, Karnataka |
|
Tel. No.: |
91-80-23478712 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
15.01.1998 |
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|
|
|
Com. Reg. No.: |
08-023270 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
INR 8.001 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101KA1998PTC023270 |
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|
|
|
IEC No.: |
0797015612 |
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|
|
TIN No: |
29270282570 |
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GSTIN: |
29AAACB9167G1ZF |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACB9167G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Readymade Garments. [Registered activity] |
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|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 300000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1998. It is a manufacturer of
readymade garments. For the financial year 2017, the company has achieved 1.20% growth in
its revenue as compared to the previous year but has incurred operational
loss. The satisfactory financial risk profile of the company is marked by
sufficient net worth base along with average debt balance sheet profile. 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 slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
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 18.01.2018
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 (Tel No.: 91-80-23478712/ 13/ 14)
LOCATIONS
|
Registered Office / Factory : |
No. 25, 2nd Cross, 3rd Main, Industrial Suburb,
Yeshwanthpur, Bangalore-560022, Karnataka, India |
|
Tel. No.: |
91-80-23478712 / 13 / 14 |
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Fax No.: |
91-80-23478711 |
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E-Mail : |
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Website : |
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Factory: |
Located at:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Denis Marie Joseph Germain |
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|
Designation : |
Managing Director |
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Address : |
Apartment No.201, 2nd Floor, Tulip Home, 66/2, Nandidurga Road, Bangalore- 560046, Karnataka, India |
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Date of Birth/Age : |
19.03.1956 |
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Date of Appointment : |
15.01.1998 |
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DIN No.: |
00732991 |
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Other Directorship:
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Name : |
Mr. Florence Nicole Xaviere Marie |
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Designation : |
Director |
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Address : |
Apartment No.201, 2nd Floor, Tulip Home, 66/2, Nandidurga Road, Bangalore- 560046, Karnataka, India |
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Date of Birth/Age : |
05.05.1957 |
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Date of Appointment : |
12.12.1998 |
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DIN No.: |
00733111 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Chetan |
|
Designation : |
Company Secretary |
|
Address : |
No.371, 8th Main, Sadashivanagar, Bangalore – 560080,
Karnataka, India |
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Mob. No: |
91-7760131381/ 8050531291 |
|
Email: |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Denis |
|
25002 |
|
Florence |
|
26400 |
|
Akshaya Apparels Private Limited, India |
|
28600 |
|
Hemadri and Company, India |
|
1 |
|
Kanchan |
|
1 |
|
Kiran Kumar Kothari HUF |
|
1 |
|
Mahendra |
|
1 |
|
Kiran |
|
1 |
|
Nikhil |
|
1 |
|
Moolchand |
|
1 |
|
Kiran Kumar INC |
|
1 |
|
Total |
|
80010 |
AS ON 30.09.2016
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Foreign national (other than NRI) |
64.24 |
|
Promoters - Bodies corporate |
35.75 |
|
Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer of Readymade Garments. [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 : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
B V C and Company Chartered Accountants |
|
Address : |
No. 371, 1st Floor, 8th Main, Sadashivanagar, Bangalore-560080,
Karnataka, India |
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Tel. No.: |
91-80-23612855/ 2856 |
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E-Mail : |
|
|
Website : |
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PAN No.: |
AAIFB6437A |
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|
|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
|
Related parties where control exists /Associates: |
Akshay Apparels Private Limited |
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|
|
|
Enterprise under control or significant influence of KMP: |
JP Garden Preserves Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000 |
Equity Shares |
INR 100/- each |
INR 11.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80010 |
Equity Shares |
INR 100/- each |
INR 8.001 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 |
8.001 |
8.001 |
8.001 |
|
(b) Reserves & Surplus |
96.293 |
99.795 |
94.004 |
|
(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) |
104.294 |
107.796 |
102.005 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12.130 |
13.696 |
14.006 |
|
(b) Deferred tax liabilities (Net) |
24.435 |
12.024 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
7.766 |
|
Total Non-current
Liabilities (3) |
36.565 |
25.720 |
21.772 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
216.249 |
164.641 |
133.732 |
|
(b) Trade
payables |
35.298 |
45.118 |
29.988 |
|
(c) Other
current liabilities |
50.353 |
43.565 |
38.069 |
|
(d) Short-term
provisions |
8.972 |
14.951 |
12.975 |
|
Total Current
Liabilities (4) |
310.872 |
268.275 |
214.764 |
|
|
|
|
|
|
TOTAL |
451.731 |
401.791 |
338.541 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
79.309 |
81.886 |
42.471 |
|
(ii)
Intangible Assets |
6.119 |
6.509 |
4.228 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.101 |
2.718 |
4.190 |
|
(d) Long-term Loan and Advances |
22.809 |
20.135 |
45.414 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
109.338 |
111.248 |
96.303 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
58.844 |
53.662 |
32.429 |
|
(c) Trade
receivables |
116.012 |
107.560 |
86.976 |
|
(d) Cash
and cash equivalents |
141.641 |
119.407 |
98.512 |
|
(e)
Short-term loans and advances |
25.896 |
9.914 |
23.451 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.870 |
|
Total Current
Assets |
342.393 |
290.543 |
242.238 |
|
|
|
|
|
|
TOTAL |
451.731 |
401.791 |
338.541 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
626.783 |
619.297 |
521.454 |
|
|
Other Income |
20.368 |
12.140 |
21.300 |
|
|
TOTAL |
647.151 |
631.437 |
542.754 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
269.758 |
286.964 |
216.803 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.312 |
(15.494) |
9.435 |
|
|
Employees benefits
expense |
237.875 |
211.117 |
159.658 |
|
|
Exceptional items |
0.000 |
0.000 |
4.056 |
|
|
Other expenses |
107.023 |
109.585 |
131.100 |
|
|
TOTAL |
617.968 |
592.172 |
521.052 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
29.183 |
39.265 |
21.702 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
21.480 |
18.409 |
6.584 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7.703 |
20.856 |
15.118 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
11.377 |
9.663 |
13.178 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(3.674) |
11.193 |
1.940 |
|
|
|
|
|
|
|
Less |
TAX |
1.617 |
5.402 |
(0.901) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(5.291) |
5.791 |
2.841 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
361.627 |
381.186 |
391.606 |
|
|
Foreign Commission |
31.226 |
31.810 |
31.279 |
|
|
TOTAL EARNINGS |
392.853 |
412.996 |
422.885 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
27.904 |
36.867 |
33.038 |
|
|
Components and Stores
parts |
6.029 |
19.498 |
5.093 |
|
|
TOTAL IMPORTS |
27.904 |
56.365 |
38.131 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(66.14) |
72.38 |
35.5 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
10.913 |
9.039 |
12.064 |
|
Cash generated from operations |
43.587 |
75.803 |
32.358 |
|
Net cash flow from (used in) operating activities |
41.838 |
75.633 |
22.228 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
67.56 |
63.39 |
60.88 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.40 |
5.76 |
6.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
47.76 |
57.39 |
50.49 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.50 |
0.73 |
0.67 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.34 |
0.44 |
0.46 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.74 |
0.72 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
2.29 |
1.74 |
1.57 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.98 |
2.49 |
2.11 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.82 |
0.82 |
0.46 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.36 |
2.13 |
3.30 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(0.84) |
0.94 |
0.54 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(1.17) |
1.44 |
0.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(5.07) |
5.37 |
2.79 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.10 |
1.08 |
1.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.91 |
0.88 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.23 |
0.27 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
29.91 |
23.42 |
19.97 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.10 |
1.08 |
1.13 |
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 |
8.001 |
8.001 |
8.001 |
|
Reserves & Surplus |
94.004 |
99.795 |
96.293 |
|
Net
worth |
102.005 |
107.796 |
104.294 |
|
|
|
|
|
|
long-term borrowings |
14.006 |
13.696 |
12.130 |
|
Short term borrowings |
133.732 |
164.641 |
216.249 |
|
Current maturities of
long-term debts |
12.064 |
9.039 |
10.913 |
|
Total
borrowings |
159.802 |
187.376 |
239.292 |
|
Debt/Equity
ratio |
1.567 |
1.738 |
2.294 |
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 |
521.454 |
619.297 |
626.783 |
|
|
|
18.763 |
1.209 |
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 |
521.454 |
619.297 |
626.783 |
|
Profit |
2.841 |
5.791 |
(5.291) |
|
|
0.54% |
0.94% |
(0.84%) |
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF COMPANY AFFAIRS
AND FUTURE OUTLOOK
There was increase in revenue by INR 15.714 million which is about 2.49%
increase from INR 631.437 million during the financial year ended 31.03.2016 to
INR 647.151 million during the financial year ended 31.03.2017. There was decrease
in net profit by INR 11.083 million owing chiefly to increase in labour costs.
GENERAL
INFORMATION:
Subject the Company was incorporated on January 15, 1998 as a Private Limited Company under the provisions of the Companies Act, 1956, having its registered office in Bangalore, India. The Company is into manufacturer of readymade garments.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
From Others |
|
|
|
Term Loans |
6.250 |
3.053 |
|
Less: Current
Maturity of long term debt |
(4.629) |
(2.803) |
|
|
|
|
|
Short-term
borrowings |
|
|
|
From related parties |
2.638 |
2.380 |
|
Total |
4.259 |
2.630 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C40934184 |
10544101 |
AXIS BANK LIMITED |
17/01/2015 |
- |
- |
10000000.0 |
CORPORATE BANKING BRANCH, EXPRESS BUILDING, SECOND FLOOR, NO.1, QUEEN'S ROAD, BANGALORE-560001, KARNATAKA, INDIA |
|
2 |
G13961644 |
10302851 |
Axis Bank Limited |
29/07/2011 |
26/09/2016 |
- |
350000000.0 |
Corporate Banking Branch, Express Building Second Floor, No.1 Queen's Road, Bangalore-560001, Karnataka, India |
|
3 |
C19308154 |
90199356 |
UNION BANK OF INDIA |
03/08/2000 |
07/11/2002 |
02/09/2014 |
4500000.0 |
INDUSTRIAL FINANCE BRANCH, HAFEFZA CHAMBERS K. H., BANGALORE-560027, Karnataka, India |
|
4 |
C19306885 |
90197794 |
UNION BANK OF INDIA |
03/08/2000 |
07/11/2002 |
02/09/2014 |
4500000.0 |
INDUSTRIAL FINANCE BRANCH, K. H. ROAD, BANGALORE-560027, Karnataka, India |
|
5 |
B29370988 |
10114227 |
Standard Chartered Bank |
20/06/2008 |
23/07/2010 |
21/12/2011 |
94500000.0 |
112, Serenity, Koramangala NDUSTRIAL Area, 5th Block, Koramangala, Bangalore-560095, Karnataka, India |
|
6 |
A62322573 |
80053695 |
UNION BANK OF INDIA |
03/08/2000 |
- |
05/05/2009 |
4500000.0 |
INDUSTRIAL FINANCE BRANCH, K. H. ROAD, BANGALORE-560027, Karnataka, India |
|
7 |
A62322615 |
80053696 |
UNION BANK OF INDIA |
10/05/2001 |
- |
05/05/2009 |
1300000.0 |
INDUSTRIAL FINANCE BRANCH, K. H. ROAD, BANGALORE-560027, Karnataka, India |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Duty saved under EPCG license scheme |
7.881 |
2.720 |
|
Letter of credit outstanding |
17.801 |
11.134 |
|
Service tax demand under appeal |
11.444 |
11.444 |
FIXED ASSETS:
Tangible Asset:
- Plant and
equipment
- Furniture and
Fixture
- Motor Vehicle
- Office
equipment
- Borewell
- Computer
hardware
Intangible Asset:
- 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 63.98 |
|
|
1 |
INR 88.13 |
|
Euro |
1 |
INR 78.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.