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MIRA
INFORM REPORT
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Report No. : |
495492 |
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Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
KARTHIK INDUCTIONS LIMITED |
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Registered
Office : |
Plot No.120-121, Kundaim, Industrial Estate, Kundaim, Goa - 403115 |
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Tel. No.: |
91-343-2590737 / 2590694 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
06.10.1994 |
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Com. Reg. No.: |
24-001666 |
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Capital
Investment / Paid-up Capital : |
INR 17.500 Million |
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CIN No.: [Company Identification
No.] |
U27108GA1994PLC001666 |
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IEC No.: [Import-Export Code No.] |
Not Available |
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TIN No.: |
30770200750 |
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PAN No.: [Permanent Account No.] |
AAACK7735R |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
30AAACK7735R1Z6 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is engaged in manufacturing of M. S. Billets, TMT Bars, Angles, Flats, Rounds, Squares (Registered Activity) |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 100000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1994 having
moderate track record. For the financial year 2017, revenue of the company has declined and
reported continuous losses from its operational activities. Rating is also constrained on account of deterioration in reserve
level, high debt and unfavouravble gap between trade payables to its trade receivables. However, the rating weakness is partially offset by company’s long
standing track record of business operation Trade relations are reported as fair. Business is active. Payments
terms are seems to be slow. 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long term rating : B |
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Rating Explanation |
High risk of default |
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Date |
24.04.2017 |
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Rating Agency Name |
CARE |
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Rating |
Short term rating : A4 |
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Rating Explanation |
Minimal degree of safety and very high credit risk |
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Date |
24.04.2017 |
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 06.03.2018
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.
LOCATIONS
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Registered Office : |
Plot No.120-121, Kundaim, Industrial Estate, Kundaim, Goa- 403115, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office: |
R.R. Tower, 5th Floor, Plot No.188 and 189, Phase – II,
Kavuri Hills, Hyderabad – 500081, Telangana, India |
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Head Quarter: |
1st Floor, “Sriteja”, Plot No. 232, Phase II, Kavuri Hills,
Madhapur, Hyderabad – 500033, Telangana, India |
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Unit I : |
L6 & L7, Industrial Estate, Cuncolim, Salcete Tq., Goa - 403 703, India |
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Unit II : |
No.89, Mouza, Angadpur, Waria Road, Durgapur, Bardhaman - 713215, West Bengal, India |
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Tel. No.: |
91-343 - 2590737 / 2590694 |
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Fax No.: |
91-343 - 2590694 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Srikanth Raghavendra Bhupal |
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Designation : |
Director |
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Address : |
D-11, La Marvel Colony, Donapaula, Panaji - 403002, Goa, India |
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Date of Birth/Age : |
10.03.1989 |
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Qualification |
MBA in International Management |
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Date of Appointment : |
26.09.2013 |
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PAN No.: |
ANWPB4920F |
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DIN No.: |
06391001 |
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Other
Directorship:
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Name : |
Mr. Uttamkumar Shivakumar Bhupal |
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Designation : |
Director |
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Address : |
Door No. 164, Rama Rukmini Nilaya, Nc Colony Hospet, Bellary - 583201,
Karnataka, India |
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Date of Birth/Age : |
21.11.1988 |
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Qualification |
BS (Electrical), MBA in Marketing |
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Date of Appointment : |
26.09.2013 |
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PAN No.: |
ABDPU9989N |
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DIN No.: |
06391009 |
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Other
Directorship:
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Name : |
Mr. Ramulu Arveti |
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Designation : |
Director |
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Address : |
Adwalpalkar Shelter, F-1, Block E Opposite Kamat Classic, Phase IV,
Caranzalem, Panaji-403002, Goa |
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Date of Birth/Age : |
01.07.1971 |
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Qualification |
B. E (Mechanical) |
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Date of Appointment : |
27.09.2016 |
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PAN No.: |
AEQPA5640A |
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DIN No.: |
00160028 |
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Other
Directorship:
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MAJOR SHAREHOLDERS
As on 31.03.2017
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
67.20 |
|
Promoters (Body corporate) |
18.42 |
|
Promoters (Others) |
1.80 |
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Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
11.78 |
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Public/Other than promoters (Body corporate) |
0.65 |
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Public/Other than promoters (Others - Institutions) |
0.15 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in manufacturing of M. S. Billets, TMT Bars, Angles, Flats, Rounds, Squares (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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers (2016): |
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Facilities : |
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Auditors : |
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Name : |
D. V. Sarovar and Company Chartered Accountants |
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Address : |
Upstair Post Office Building, Near Baldota Parkn. C. Colony, Goa, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFD2005F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Rukminirama Steel Rollings Private Limited · Karthik Associated Road Carriers Private Limited · Rukminirama Ferro Alloys And Power Limited |
CAPITAL STRUCTURE
As on 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
1750000 |
Equity Shares |
INR 10/- each |
INR 17.500 Million |
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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 |
17.500 |
14.428 |
14.428 |
|
(b) Reserves and Surplus |
17.546 |
36.371 |
36.590 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
35.046 |
50.799 |
51.018 |
|
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|
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
73.032 |
83.029 |
59.597 |
|
(b) Deferred tax liabilities (Net) |
6.282 |
4.917 |
3.222 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.368 |
3.148 |
3.080 |
|
Total Non-current
Liabilities (3) |
82.682 |
91.094 |
65.899 |
|
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|
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(4)
Current Liabilities |
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|
|
|
(a) Short-term
borrowings |
135.159 |
107.380 |
116.135 |
|
(b) Trade
payables |
146.390 |
112.142 |
64.807 |
|
(c) Other
current liabilities |
101.723 |
91.646 |
20.270 |
|
(d) Short-term
provisions |
4.778 |
4.931 |
5.266 |
|
Total Current
Liabilities (4) |
388.050 |
316.099 |
206.478 |
|
|
|
|
|
|
TOTAL |
505.778 |
457.992 |
323.395 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
80.573 |
81.773 |
36.925 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
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 |
24.995 |
24.995 |
24.995 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
4.988 |
5.114 |
4.988 |
|
(e) Other
Non-current assets |
5.515 |
5.270 |
5.178 |
|
Total Non-Current
Assets |
116.071 |
117.152 |
72.086 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
205.350 |
201.554 |
98.389 |
|
(c) Trade
receivables |
118.376 |
112.470 |
137.108 |
|
(d) Cash and
bank balances |
10.003 |
7.602 |
2.991 |
|
(e)
Short-term loans and advances |
55.978 |
19.214 |
12.821 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
389.707 |
340.840 |
251.309 |
|
|
|
|
|
|
TOTAL |
505.778 |
457.992 |
323.395 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1348.885 |
1463.189 |
807.882 |
|
|
Other Income |
1.468 |
1.315 |
1.451 |
|
|
TOTAL |
1350.353 |
1464.504 |
809.333 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
959.213 |
1041.325 |
628.744 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
12.535 |
(36.867) |
(41.942) |
|
|
Employee benefit expense |
38.831 |
37.622 |
16.955 |
|
|
Other expenses |
329.914 |
388.203 |
179.254 |
|
|
TOTAL |
1340.493 |
1430.283 |
783.011 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
9.860 |
34.221 |
26.322 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.450 |
27.072 |
22.361 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(19.590) |
7.149 |
3.961 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.549 |
5.323 |
2.930 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(25.139) |
1.826 |
1.031 |
|
|
|
|
|
|
|
Less |
TAX |
1.365 |
2.045 |
0.790 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(26.504) |
(0.219) |
0.241 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
7.223 |
0.000 |
0.000 |
|
|
Components and spare
parts |
0.790 |
2.037 |
0.000 |
|
|
TOTAL IMPORTS |
8.014 |
2.037 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(15.145) |
(0.152) |
0.167 |
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 flows from (used in) operations |
8.419 |
68.392 |
32.102 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
32.03 |
28.06 |
61.95 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
11.39 |
13.01 |
5.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
55.70 |
39.31 |
37.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.05 |
0.17 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.12 |
0.42 |
0.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.91 |
0.87 |
0.82 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
5.94 |
3.75 |
3.44 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
11.07 |
6.22 |
4.05 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
2.30 |
1.61 |
0.72 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.33 |
1.26 |
1.18 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(1.96) |
(0.01) |
0.03 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(5.24) |
(0.05) |
0.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(75.63) |
(0.43) |
0.47 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.00 |
1.08 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.48 |
0.44 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.07 |
0.11 |
0.16 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
11.90 |
13.20 |
12.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.00 |
1.08 |
1.22 |
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 |
14.428 |
14.428 |
17.500 |
|
Reserves & Surplus |
36.590 |
36.371 |
17.546 |
|
Net
worth |
51.018 |
50.799 |
35.046 |
|
|
|
|
|
|
long-term borrowings |
59.597 |
83.029 |
73.032 |
|
Short term borrowings |
116.135 |
107.380 |
135.159 |
|
Total
borrowings |
175.732 |
190.409 |
208.191 |
|
Debt/Equity
ratio |
3.445 |
3.748 |
5.941 |
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 |
807.882 |
1463.189 |
1348.885 |
|
|
|
81.114 |
(7.812) |
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 |
807.882 |
1463.189 |
1348.885 |
|
Profit/ (Loss) |
0.241 |
(0.219) |
(26.504) |
|
0.03% |
(0.01%) |
(1.96%) |
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 |
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 |
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 |
Yes |
|
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 |
GENERAL INFORMATION
The Company is engaged in manufacturing of M.S.Billets, TMT Bars, Angles, Flats, Rounds, Squares. It has registered office at Plot No.120-121 Kundaim Industrial Estate, Kundaim, South Goa. The company has also taken lease of two divisions of rolling mill from which it produced billets and TMT Bars. Major productions of billet were consumed by the Company (captive consumption) for production of TMT Bars.
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS:
The Company continues to carry on the business within the scope of its Main Objects. There was no diversification of business during the Financial Year ended 31.03.2017. Currently, the Board does not intend to venture into any new segment of business.
The Directors regret to inform that the Company incurred a loss of INR 25.139 Million during the Financial Year ended 31.03.2017 as compared to the profit of INR 1.826 million during the year 31.03.2016. The Company has turnover of INR 1348.885 as compared to loss of INR 1463.189 Million during the Financial Year ended 31.03.2016.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
7.726 |
6.526 |
|
Total |
7.726 |
6.526 |
INDEX OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
C16537649 |
10515121 |
STATE BANK OF INDIA |
28/07/2014 |
- |
16500000.0 |
COMMERCIAL BRANCH, STATE BANK STAFF TRAINING CENTRE PATTO PLAZA PANAJI GAO 403001 INDIA |
|
2 |
G05073994 |
90075711 |
STATE BANK OF MYSORE |
04/03/1997 |
27/04/2016 |
205000000.0 |
MARGAO BRANCH DAMAODAR CHAMBERS MARGAO GAO 403601 INDIA |
|
3 |
Y10159668 |
90077148 |
STATE BANK OF MYSORE |
14/07/1995 |
- |
39000000.0 |
MARGAO BRANCH DAMAODAR CHAMBERS MARGAO GAO 403601 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Claims against the
company not acknowledged as debts |
|
|
|
Entry tax |
6.001 |
6.001 |
|
Electricity Duty paid (Under Protest) |
25.975 |
0.000 |
|
Excise duty demand raise by Excise department |
|
|
|
Excise duty |
2.307 |
2.307 |
FIXED ASSETS
- Land
- Building
- Furniture and fixtures
- Vehicles
- Office equipment
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.23 |
|
UK Pound |
1 |
INR 79.50 |
|
Euro |
1 |
INR 89.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·