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MIRA INFORM REPORT
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Report No. : |
488493 |
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Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
VARSHA REFRACTORIES PRIVATE LIMITED |
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Registered
Office : |
Office No.4, Ground Floor, Kailash Apartment, Near Old RTO Building,
Tapsi Pande Compound, Dr. R.P Road, Kalyan – 421301, Maharashtra |
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Tel. No.: |
91-251-2314832 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
30.09.1999 |
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Com. Reg. No.: |
11-122008 |
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Capital
Investment / Paid-up Capital : |
INR 0.136 Million |
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CIN No.: [Company Identification
No.] |
U51900MH1999PTC122008 |
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IEC No.: |
0300033273 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACV9947J |
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GSTIN : |
27AAACV9947J1ZO |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Company is engaged in the activities pertaining to Dealing in
Refractory Material. (Registered activity) |
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No. of Employees
: |
10 (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 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Varsha Refractories Private Limited was incorporated in the year 1999. It is a dealer of Refractory material, Refractory Materials, Refractory Cement and Mortars. For the financial year 2017, the revenue of the company has increased by 4.28% along with profit margin of 3.81%. The sound financial profile of the company is marked by adequate networth base along with strong debt coverage indicators due to debt free balance sheet profile. The company has decent earning per shares (EPS) of INR 452 against the face value (FV) of INR 10. The rating takes into consideration subject’s long track record of business operations along with extensive experience of its promoters. Business is active. Payments are seems 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.
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 29.01.2018
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 : |
Ms. Jayshree Bansode |
|
Designation : |
Accountant |
|
Contact No.: |
91-9594993184 |
|
Date : |
27.01.2018 |
LOCATIONS
|
Registered/ Correspondence Office : |
Office No.4, Ground Floor, Kailash Apartment, Near Old RTO Building, Tapsi
Pande Compound, Dr. R.P Road, Kalyan – 421301, Maharashtra, India |
|
Tel. No.: |
91-251-2314832 / 2318832 |
|
Mobile No.: |
91-9820339394 (Mr. Nilesh Mehta) 91-9594993184 (Ms. Jayshree Bansode) |
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Fax No.: |
91-251-2314831 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Commercial cum Residential |
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Sales Office : |
Navda Phata, Thane – Panvel Highway Next to Hotel Welcome Dhaba,
Opposite Panchratna Hotel, Taloja (Navi Mumbai) - 410208, Maharashtra, India |
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E-Mail : |
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Aurangabad Office : |
Gat No. 43, Sai Baba Mandir Compound, Opposite BPCL Petrol
Pump, |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Prakash Anantrai Mehta |
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Designation : |
Director |
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Address : |
D-3, Mahek Plaza, Opposite Tel Exchange, Kalyan (West), Thane –
421301, Maharashtra, India |
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Date of Birth/Age : |
05.01.1964 |
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Qualification : |
BSC |
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Date of Appointment : |
30.09.1999 |
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PAN No.: |
ADXPM8619M |
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DIN No.: |
00603074 |
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|
|
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Name : |
Mr. Nilesh Anantrai Mehta |
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Designation : |
Director |
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Address : |
704, Krishna, |
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Date of Birth/Age : |
06.04.1969 |
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Qualification : |
CA |
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Date of Appointment : |
04.12.2007 |
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PAN No.: |
AEKPM2809P |
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DIN No.: |
01830273 |
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|
|
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Name : |
Mr. Bhavesh Anantrai Mehta |
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Designation : |
Director |
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Address : |
2/15, Sai park, Shivaji Path, Kalyan (West), Thane - 421301, |
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Date of Birth/Age : |
25.01.1971 |
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Qualification : |
BSC |
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Date of Appointment : |
30.09.1999 |
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PAN No.: |
AEKP2912H |
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DIN No.: |
00620657 |
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|
|
|
Name : |
Mr. Surya Anantrai Mehta |
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Designation : |
Director |
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Address : |
2/15, Sai park, Shivaji Path, Kalyan (West), Thane - 421301, |
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Date of Birth/Age : |
22.12.1941 |
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Qualification : |
BA |
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Date of Appointment : |
30.09.1999 |
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PAN No.: |
AAPPM6209E |
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DIN No.: |
00896406 |
KEY EXECUTIVES
|
Name : |
Ms. Jayshree Bansode |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Prakash Anantrai Mehta |
|
3400 |
|
Bhavesh Anantrai Mehta |
|
3400 |
|
Suryaben Anantrai Mehta |
|
3400 |
|
Nilesh Anantrai Mehta |
|
3400 |
|
Anantrai Popatlal Mehta (HUF) |
|
1 |
|
Prakash Anantrai Mehta (HUF) |
|
1 |
|
Bhavesh Anantrai Mehta (HUF) |
|
1 |
|
Varsha Prakash Mehta (HUF) |
|
1 |
|
Nilesh Anantlal Mehta (HUF) |
|
1 |
|
Manisha Nilesh Mehta (HUF) |
|
1 |
|
Anjali Bhavesh Mehta (HUF) |
|
1 |
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Total |
|
13607 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
99.95 |
|
Public – (Individual/ Hindu Undivided
Family – Indian) |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in the activities pertaining to Dealing in Refractory
Material. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Srilanka · Nepal |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
· Anjaly Minerals · Arya Refractories · Bharat Minerals Industries · Belle Refractories · Chandan Minerals and Refractories · Dhaval Minerals · Dinesh Metal (India) · Fortune Refractories · Giriraj Trading Company · Inox Ceramic · J B Udyog · Kiran Mineral Industries · Maithan Ceramic Limited · Omex Insulation Industries · Royal Industrial Minerals · Shubh Ceramic Private Limited |
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Customers : |
End Users
· Accent Metals Private Limited · ACI Ecotech Private Limited · Agarwal Refractors · Akar Tools Limited · Balaji Technologies · Balkrishna Paper Mills Limited · Bunty Food India Private Limited · Calchem industries India Limited · Chaneyco Refratech Private Limited · Chembond Chemicals Limited · Crystal Industrial Syndicate Private Limited · Deesan Agro Tech Private Limited · Dhanlaxmi Agro Tech Private Limited · Echjay Forgings Private Limited · Fit Well Engineering Company · Gargi Industries |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
· Axis Bank Limited · HDFC Bank Limited · State Bank of India ·
Dena Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
C M Lad and Associates Chartered Accountants |
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Address : |
301, Manovi City Centre, Opposite Gurudev Hotel, R.P. Road, Kalyan – 421301,
Maharashtra, India |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAGPL5273Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
INR 10/- each |
INR 2.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13607 |
Equity Shares |
INR 10/- each |
INR 0.136 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
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|
(a) Share Capital |
0.136 |
0.136 |
0.136 |
|
(b) Reserves &
Surplus |
55.206 |
48.582 |
43.349 |
|
(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) |
55.342 |
48.718 |
43.485 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
9.893 |
8.917 |
13.112 |
|
(b) Trade payables |
58.433 |
50.100 |
43.891 |
|
(c) Other current
liabilities |
5.483 |
4.863 |
4.784 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
73.809 |
63.880 |
61.787 |
|
|
|
|
|
|
TOTAL |
129.151 |
112.598 |
105.272 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
22.848 |
24.580 |
24.239 |
|
(ii) Intangible Assets |
0.000 |
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 |
0.145 |
0.145 |
0.145 |
|
(c) Deferred tax assets
(net) |
0.005 |
0.006 |
0.006 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
2.414 |
1.765 |
2.965 |
|
Total Non-Current Assets |
25.412 |
26.496 |
27.355 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
7.153 |
5.332 |
3.882 |
|
(c) Trade receivables |
72.648 |
55.585 |
55.614 |
|
(d) Cash and cash
equivalents |
20.990 |
21.909 |
15.470 |
|
(e) Short-term loans and
advances |
2.948 |
3.276 |
2.951 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
103.739 |
86.102 |
77.917 |
|
|
|
|
|
|
TOTAL |
129.151 |
112.598 |
105.272 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
161.519 |
154.891 |
161.840 |
|
|
Other Income |
1.528 |
2.061 |
1.610 |
|
|
TOTAL |
163.047 |
156.952 |
163.450 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
138.834 |
132.197 |
137.405 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.821) |
(1.450) |
0.302 |
|
|
Employees benefits
expense |
1.344 |
1.316 |
1.145 |
|
|
Other expenses |
14.394 |
13.872 |
13.136 |
|
|
TOTAL |
152.751 |
145.935 |
151.988 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
10.296 |
11.017 |
11.462 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.859 |
1.417 |
1.579 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
9.437 |
9.600 |
9.883 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
0.485 |
0.710 |
0.569 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
8.952 |
8.890 |
9.314 |
|
|
|
|
|
|
|
Less |
TAX |
2.793 |
2.809 |
2.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
6.159 |
6.081 |
6.514 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
452.61 |
446.89 |
472.97 |
Expected Sales (2017-2018) : INR 180.000 Million (Approximately)
The above information has been parted by Ms. Jayshree Bansode
(Accountant)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
0.828 |
13.365 |
8.164 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
164.17 |
130.99 |
125.43 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.22 |
2.79 |
2.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
153.62 |
138.33 |
116.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.44 |
2.07 |
2.95 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.45 |
0.45 |
0.47 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.57 |
0.57 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.18 |
0.18 |
0.30 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.33 |
1.31 |
1.42 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.41 |
0.50 |
0.56 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
11.99 |
7.77 |
7.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
3.81 |
3.93 |
4.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.77 |
5.40 |
6.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
11.13 |
12.48 |
14.98 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.41 |
1.35 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.31 |
1.26 |
1.20 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.43 |
0.43 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
72.74 |
65.57 |
96.41 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.41 |
1.35 |
1.26 |
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 |
0.136 |
0.136 |
0.136 |
|
Reserves & Surplus |
43.349 |
48.582 |
55.206 |
|
Net
worth |
43.485 |
48.718 |
55.342 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
13.112 |
8.917 |
9.893 |
|
Total
borrowings |
13.112 |
8.917 |
9.893 |
|
Debt/Equity
ratio |
0.302 |
0.183 |
0.179 |
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
|
161.840 |
154.891 |
161.519 |
|
|
|
(4.294) |
4.279 |
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
|
161.840 |
154.891 |
161.519 |
|
Profit |
6.514 |
6.081 |
6.159 |
|
|
4.02% |
3.93% |
3.81% |
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 |
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 |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
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 |
OPERATIONS
The company continues to be engaged in the activities pertaining to
dealing in refractory material.
There was no change in nature of the business of the company, during the
year
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loan and Advance
from related parties |
|
|
|
Anantrai P Mehta |
0.250 |
0.000 |
|
Anjali B. Mehta |
0.367 |
0.405 |
|
Bhavesh A. Mehta |
0.695 |
0.377 |
|
Bhavesh A. Mehta HUF |
0.892 |
2.017 |
|
Manisha N. Mehta |
0.262 |
0.444 |
|
Nilesh A. Mehta HUF |
0.450 |
1.719 |
|
Nilesh A Mehta |
0.650 |
0.097 |
|
Prakash A. Mehta HUF |
0.427 |
1.955 |
|
Prakash A. Mehta |
0.605 |
0.095 |
|
Surya A Mehta |
0.929 |
1.032 |
|
Varsha P. Mehta |
0.878 |
1.059 |
|
|
|
|
|
Total |
6.405 |
9.200 |
INDEX
OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date Of Creation |
Date Of
Modification |
Date Of
Satisfaction |
Amount |
Address |
|
1 |
G17587833 |
100056644 |
ICICI BANK LIMITED |
29/01/2016 |
- |
- |
4500000.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara – 390007, Gujarat, India |
|
2 |
G39598289 |
90142836 |
DENA BANK |
31/03/2000 |
31/12/2001 |
30/03/2017 |
1500000.0 |
Kalyan (West), Thane, Maharashtra, India |
FIXED ASSETS
· Active
· Furniture and Fixtures
· Air Conditioner
· Car
· Computer System
· Container
· EPABX
· Flat
· Godown
· Machinery
· Mobile Handset
· Office Premises
· Plot
· Scanner
· Security System
· UPS
· Water Cooler
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 63.64 |
|
|
1 |
INR 89.32 |
|
Euro |
1 |
INR 78.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
NO |
|
--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.