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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

487190

Report Date :

24.01.2018

 

 IDENTIFICATION DETAILS

 

Name :

PENTAIR VALVES AND CONTROLS INDIA PRIVATE LIMITED (w.e.f. 23.05.2013)

 

 

Formerly Known As :

TYCO VALVES AND CONTROLS INDIA PRIVATE LIMITED

 

MULTI SARASIN VALVES LIMITED

 

 

Registered Office :

302/A, Ivory Terrace, R.C. Dutt Road, Alkapuri, Vadodara – 390005, Gujarat

Tel. No.:

91-2676-300200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.06.1981

 

 

Com. Reg. No.:

04-004441

 

 

Capital Investment / Paid-up Capital :

INR 189.986 Million 

 

 

CIN No.:

[Company Identification No.]

U28999GJ1981PTC004441

 

 

 

IEC No.:

Not Divulged

 

 

TIN No.:

24171100105

 

 

CST No.:

24671100105

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

 

PAN No.:

[Permanent Account No.]

AAACK8809L

 

 

GSTIN/UIN :

24AAACK8809L1ZA

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing and sale of valves and valve components and supply and installation of equipment's for pipelines, (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 :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behavior :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject operates as a subsidiary of “Safety Systems UK Pte Limited”, based in Singapore. It was incorporated in the year 1981 and engaged in manufacturing and sales of valves and vale components and supply and installation of equipment’s for pipelines.

 

Management had failed to file its latest financials after FY 2014 with Government Registry.

 

As per available financials of March 2014, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported profit margin of 3.94%.

 

Rating is constrained on account of company’s absence of latest financial information to evaluate risk associated with company.

 

However, rating weakness is partially offset by strong financial and managerial support received from its holding entity.

 

Payments terms are slow but correct.

 

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 24.01.2018

 

 

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.: 91-2676-300200/ 91-265-2359503)

 

 

LOCATIONS

 

Registered Office :

302/A, Ivory Terrace, R.C. Dutt Road, Alkapuri, Vadodara – 390005, Gujarat, India

Tel. No.:

91-2676-300200/265-2359503 / 2331944

Fax No.:

91-2676-220162/2336926

E-Mail :

sandeep.kashikar@pentair.com

brijesh.rai@pentair.com

Website :

www.pentair.com

Location :

Owned

 

 

Corporate Office :

804, Windser House, Kalina, Santacruz (East), Mumbai, Maharashtra, India

 

 

Branch Office :

No.23, C Mandira Apartments, No.3A, 3rd Floor, T Nagar, Chennai – 600017, Tamilnadu, India

 

 

Factory :

Survey No. 150, Halol-Kalol Godra Road, PO : Meghasar, District: Panchamahal -  389354, Gujarat, India

Tel. No.:

91-2676-220461 / 220056 / 300200

 

 

 

 

 

 

DIRECTORS

 

AS ON 2017

 

Name :

Mr. Kumbra Brijesh Rai

Designation :

Additional Director

Address :

B-18 RH, Uniworth Tranquil, Doddabelle Road, Kengeri, Bangalore - 560060, Karnataka, India

Date of Appointment :

22.05.2015

DIN No.:

07233685

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U74999MH1993PLC072778

SAKHI RAIMONDI VALVE (INDIA) LIMITED

07/07/2015

-

U29220TN2008PTC066052

JCF FLUID FLOW INDIA PRIVATE LIMITED

05/08/2015

-

 

 

Name :

Mr. Ravi Gollapudi

Designation :

Additional Director

Address :

Old No.16, New No.45, Kavarai Street, West Mambalam, Chennai – 600033, Tamilnadu, India

Date of Appointment :

18.01.2017

DIN No.:

06861817

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U74999MH1993PLC072778

SAKHI RAIMONDI VALVE (INDIA) LIMITED

15/11/2016

-

U29220TN2008PTC066052

JCF FLUID FLOW INDIA PRIVATE LIMITED

13/02/2017

-

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Iqbal Singh Malhotra

 

1

Safety Systems UK Pte Limited, Singapore

 

18998638

Total

 

18998639

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companies (s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing and sale of valves and valve components and supply and installation of equipment's for pipelines, (Registered Activity)

 

 

Products :

Item Code No.

Product Description

848140

Safety Relief Valves

848180

Industrial Valves

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Not Divulged

Branch

Not Divulged

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

Deloitte Haskins And Sells Heritage, 3rd Floor Near Gujarat Vidhyapith Ashram Road, Ahmedabad – 380014, Gujarat, India

Tel. No.:

91-265-2333776

Fax No.:

91-265-2339729

PAN. No.:

AADFD2337G

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company : (As on 31.03.2014 )

Safety Systems UK Pte Limited, Singapore

 

 

Associates: : (As on 31.03.2014 )
  • Biffi Italia S.r.L.
  • Flow Control Technologies SA
  • Flow Shares Limited
  • Generale de Robinetterie Industrielle et de Systemes de Surete (Griss) S.A.
  • Gulf Valve FZE
  • JCF Fluid Flow India Private Limited
  • Keystone Valve (Korea) LLC
  • Neotecha AG
  • Pentair Flow Control (Beijing) Company Limited
  • Pentair Flow Control Middle East FZE
  • Pentair Flow Control Pacific Pty Limited
  • Pentair Flow Control Pacific Pty Limited (New Zealand Branch)
  • Pentair Flow Services AG
  • Pentair Limited
  • Pentair Management Company
  • Pentair Technical Products India Private Limited
  • Pentair Thermal Management India Private Limited
  • Pentair Valves and Controls de Mexico, S.A. de C.V.
  • Pentair Valves and Controls Italia S.r.l.
  • Pentair Valves and Controls Japan Company Limited
  • Pentair Valves and Controls Middle East, Inc.
  • Pentair Valves and Controls Netherlands B.V.
  • Pentair Valves and Controls Singapore Pte Limited
  • Pentair Valves and Controls US LP
  • Pentair Valves and Controls, Inc.
  • Pentair Valves and Controls India Private Limited
  • Pentair Valves Limited
  • Pentair Water India Private Limited
  • Pentair Water Treatment Private Limited
  • Safety Systems UK Limited
  • Sakhi Raimondi Valves India Limited
  • Sempell GmbH
  • Taiwan Valve Company Limited
  • Tyco Flow Control (Shanghai) Company Limited
  • Tyco Valves and Controls (Sichuan) Company Limited
  • Pentair Valves and Controls (Taiwan) Limited
  • Pentair Valves and Controls (Thailand) Limited
  • Pentair Valves and Controls (UK) Limited
  • Pentair Valves and Controls Argentina S.A.
  • Pentair Valves and Controls Brasil Ltda.
  • Pentair Valves and Controls Canada Inc.
  • Pentair Valves and Controls Chile S.A.
  • Pentair Valves and Controls Germany GmbH
  • Pentair Valves and Controls Hong Kong Limited
  • Pentair Valves and Controls Malaysia Sdn Bhd.
  • Pentair Valves and Controls Ireland Limited
  • Tyco Services S.A. (Peru)
  • Tyco Valves and Controls Distribution SA (Proprietary) Limited
  • Westlock Controls Limited
  • Erhard Gmbh and Company - Germany (Up to 28.09.2012)
  • Raphael Valves Ind. (1975) Limited. (Up to 28.09.2012)
  • Tyco Fire and Security India Private Limited (Up to 28.09.2012)
  • Tyco Fire Suppression and Building Products Private Limited (Up to 28.09.2012)
  • Tyco International Limited (Up to 28.09.2012(
  • Tyco International Management Co - Cmc (Up to 28.09.2012)
  • Tyco International Services Holding Gmbh (Up to 28.09.2012)
  • Tyco Safety Products India Private Limited (Up to 28.09.2012)
  • Tyco Valves and Controls Inc (Tfc_Nj) (Up to 28.09.2012)
  • Tyco Safety Products India Private Limited (Up to 28.09.2012)
  • Tyco International Management Co (Up to 28.09.2012)

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

35000000

Equity Shares

INR 10/- each

INR 350.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

18998639

Equity Shares

INR 10/- each

INR 189.986 Million

 

 

 

 

 

FINANCIAL DATA

[All figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

189.986

189.986

189.986

(b) Reserves & Surplus

2078.027

1962.736

1831.038

(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)

2268.013

2152.722

2021.024

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

12.190

9.313

8.945

Total Non-current Liabilities (3)

12.190

9.313

8.945

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

37.315

119.949

513.236

(b) Trade payables

1131.560

2301.136

1394.004

(c) Other current liabilities

101.211

114.977

136.892

(d) Short-term provisions

8.385

0.820

0.714

Total Current Liabilities (4)

1278.471

2536.882

2044.846

 

 

 

 

TOTAL

3558.674

4698.917

4074.815

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

261.156

159.975

147.296

(ii) Intangible Assets

41.097

54.795

2.359

(iii) Capital work-in-progress

23.672

13.885

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)

111.709

99.459

78.217

(d)  Long-term Loan and Advances

43.570

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

481.204

328.114

227.872

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

739.325

687.020

799.410

(c) Trade receivables

861.232

2765.217

1479.942

(d) Cash and cash equivalents

682.122

228.473

1170.590

(e) Short-term loans and advances

794.557

690.019

391.815

(f) Other current assets

0.234

0.074

5.186

Total Current Assets

3077.470

4370.803

3846.943

 

 

 

 

TOTAL

3558.674

4698.917

4074.815

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

2927.765

4026.034

4368.922

 

Other Income

145.746

60.552

91.399

 

TOTAL

3073.511

4086.586

4460.321

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1368.653

2106.465

2449.422

 

Purchases of Stock-in-Trade

599.359

662.886

889.016

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

16.770

158.058

(124.273)

 

Employees benefits expense

281.258

237.251

260.019

 

Other expenses

529.117

607.331

690.499

 

Exceptional Item

0.000

10.809

0.000

 

Expenditure on production, transportation and other expenditure pertaining to E&P activities

32.065

51.069

39.925

 

Extraordinary Item

0.000

0.000

(3.441)

 

TOTAL

2827.222

3833.869

4201.167

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

246.289

252.717

259.154

 

 

 

 

 

Less

FINANCIAL EXPENSES

17.096

35.262

12.989

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

229.193

217.455

246.165

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

59.203

55.224

49.270

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

169.990

162.231

196.895

 

 

 

 

 

Less

TAX

54.699

30.533

66.054

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

115.291

131.698

130.841

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

6.07

6.93

6.89

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

947.859

(426.598)

(396.771)

Net cash flows from (used in) operating activities

830.488

(466.604)

(591.106)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Average Collection Days

(Sundry Debtors / Income * 365 Days)

107.37

250.69

123.64

 

 

 

 

Account Receivables Turnover

( Income / Sundry Debtors)

3.40

1.46

2.95

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

209.87

303.29

152.41

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.33

0.37

0.32

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.76

1.11

1.73

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.36

0.54

0.50

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.02

0.06

0.25

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.56

1.18

1.01

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.14

0.11

0.07

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

14.41

7.17

19.95

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

[(PAT / Sales) * 100]

%

3.94

3.27

2.99

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

3.24

2.80

3.21

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

5.08

6.12

6.47

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Current Ratio

(Current Assets / Current Liabilities)

2.41

1.72

1.88

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.83

1.45

1.49

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.64

0.46

0.50

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.20

0.63

2.70

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.41

1.72

1.88

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

31.03.2012

31.03.2013

31.03.2014

 

(INR In Million)

(INR In Million)

(INR In Million)

Share Capital

189.986

189.986

189.986

Reserves & Surplus

1831.038

1962.736

2078.027

Net worth

2021.024

2152.722

2268.013

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

513.236

119.949

37.315

Total borrowings

513.236

119.949

37.315

Debt/Equity ratio

0.254

0.056

0.016

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Total Income

4368.922

4026.034

2927.765

 

 

(7.848)

(27.279)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Total Income

4368.922

4026.034

2927.765

Profit

130.841

131.698

115.291

 

2.99%

3.27%

3.94%

 

 

 

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

No 

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

No

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

No

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

 

 

 

 

CORPORATE INFORMATION: (As on 31.03.2014)

 

During the year 2012-13, Pentair Limited [Parent company of Pentair Valves and Controls India Private Limited (the Company, PVCIPL)] merged with TYCO Flow Control Limited [Parent Company of Tyco Valves and Control India Private Limited] with effect from 1st October, 2012. The Company is engaged in the business of manufacturing and sale of valves and valve components and supply and installation of equipment's for pipelines. The company caters to both domestic and international markets. The company has manufacturing bases at Chennai and Halol.

 

 

OPERATIONS: (As on 31.03.2014)

 

The company witnessed negative growth in the period. The revenues decreased by 25 % and expenses by 26% resulting in 5% increase in Profit before Taxes. There are severe challenges in the economic environment in which we operate. The effect of the general rise in economy is visible in the results.

 

The fluctuation in foreign exchange rates and the consequent appreciation of INR positively is reflected in the profitability of the company forcing it to profit of INR 115.290 Million. The management is confident of maintaining a favorable profitability profile by passing on the input costs to the consumer wherever necessary. We are also looking at realigning and repositioning they resources to increase productivity and generate positive incremental profitability

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(INR in Million)

31.03.2013

(INR in Million)

Short-term borrowing

 

 

Loans repayable on demand from others

37.315

119.949

Total

37.315

119.949

 

 

INDEX OF CHARGES:

 

Charges Registered

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Amount

Address

1

Y10195864

90106172

STATE BANK OF INDIA

18/12/1994

10/02/1999

20300000.0

MANDVI VADODARA, GUJARAT, INDIA

2

Y10195305

90105613

STATE BANK OF INDIA

11/01/1992

20/08/1993

7500000.0

BARODA MAIN BRANCH VADODARA, GUJARAT, INDIA

3

Y10193588

90103896

STATE BANK OF INDIA

01/08/1983

12/02/1996

2649000.0

MANDVI VADODARA, GUJARAT, INDIA

4

Y10194075

90104383

STATE BANK OF INDIA

07/12/1982

07/03/1990

2649000.0

BARODA MAIN BRANCH VADODARA, GUJARAT, INDIA

 

 

FIXED ASSETS

 

·         Land

·         plant and equipment

·         Buildings

·         Furniture and fixtures

·         Office Equipment

·         Computer Equipment

·         Vehicles

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 63.77

UK Pound

1

INR 89.20

Euro

1

INR 78.21

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

SUD

 

 

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)

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.