|
|
|
MIRA INFORM REPORT
|
Report No. : |
495764 |
|
Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
DEVANG PAPER MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 105, Near Railway Crossing, Morai Village Vapi - 396191,
Valsad, Gujarat |
|
Tel. No.: |
91-260-2437084 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
18.10.2010 |
|
|
|
|
Com. Reg. No.: |
04-062670 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 30.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21000GJ2010PTC062670 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TIN/CST No.: |
24250401526 |
|
|
|
|
GSTIN : |
24AADCD7232R1ZB |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCD7232R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of M. G. Kraft Paper and Paper Tube. (Registered Activity
and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
150 (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 |
|
Maximum Credit Limit : |
USD 1105000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2010 having
good track records. For the financial year ended 2017, the company has achieved healthy operational
revenue and has achieved fair profit margin at 4.19% (approximately) The company possesses sound financial profile marked by healthy net
worth base along with negligible debt recorded and decent earning per share
of the company (i.e., earning per share of INR 81 against face value of INR
10). However, the rating strength is partially offset by intense
competitive pressures in the kraft paper business. Trade relations are reported as fair. Business is active. Payments
terms are seems to be regular and as per commitments. In view of the 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
ICRA |
|
Rating |
Cash Credit = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
28.03.2017 |
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 07.03.2018
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. David |
|
Designation : |
Office Executive |
|
Contact No.: |
91-260-2437099 |
|
Date : |
06.03.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 105, Near Railway Crossing, Morai Village Vapi - 396191,
Valsad, Gujarat, India |
|
Tel. No.: |
91-260-2437084 / 2437085 / 2437099/2437142 |
|
Fax No.: |
91-260-2437051 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Thobhanbhai Kurjibhai Patel |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
M. I. Park, Near M.P. Shah Commerce College, Wadhwan City
– 363030, Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
15.12.1950 |
||||||||||||||||
|
Date of Appointment : |
18.10.2010 |
||||||||||||||||
|
DIN No.: |
00465298 |
||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Devang Thobhanbhai Patel |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Sankalp Society, Banglow No - 1, Plot No - 405, Gunjan,
G.I.D.C, Vapi, Pardi, Valsad - 396195,
Gujarat, India |
||||||||||||||||
|
Date of Birth/Age : |
27.06.1978 |
||||||||||||||||
|
Date of Appointment : |
18.10.2010 |
||||||||||||||||
|
DIN No.: |
00762786 |
||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. David |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
SHAREHOLDER FILE ATTACHED
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
52.89 |
|
Public/Other than promoters - [Individual/Hindu Undivided Family – Indian] |
47.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of M. G. Kraft Paper and Paper Tube. (Registered Activity
and also Confirmed by management) |
||||||||||
|
|
|
||||||||||
|
Products / Services
: |
|
||||||||||
|
|
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
Not Available |
||||||||||
|
|
|
||||||||||
|
Agencies Held : |
Not Available |
||||||||||
|
|
|
||||||||||
|
Exports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Countries : |
|
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cheque, Cash and RTGS, NEFT |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cheque, Cash and RTGS, NEFT |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Kapadia Shah and Company Chartered Accountants |
|
Address : |
CM/20, 2nd Floor, Above State Bank of India, Vapi-Silvassa Road, Vapi
- 396195 Gujarat, India |
|
PAN No.: |
AAGFK2662N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Entities in which KMP/ Relatives of KMP can exercise significant
influence : |
|
|
|
|
|
Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
470000 |
Equity Shares |
INR 10/- each |
INR 4.700 Million |
|
2550000 |
Preference shares |
INR 10/- each |
INR 25.500 Million |
|
|
Total |
|
INR 30.200
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
470000 |
Equity Shares |
INR 10/- each |
INR 4.700 Million |
|
2550000 |
Preference shares |
INR 10/- each |
INR 25.500 Million |
|
|
Total |
|
INR 30.200
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 |
30.200 |
30.200 |
30.200 |
|
(b) Reserves &
Surplus |
356.534 |
318.178 |
280.669 |
|
(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) |
386.734 |
348.378 |
310.869 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
42.706 |
53.684 |
66.535 |
|
(b) Deferred tax
liabilities (Net) |
3.913 |
5.196 |
6.045 |
|
(c) Other long term
liabilities |
0.250 |
0.250 |
0.250 |
|
(d) long-term provisions |
0.324 |
0.086 |
0.887 |
|
Total Non-current
Liabilities (3) |
47.193 |
59.216 |
73.717 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
23.926 |
12.748 |
24.102 |
|
(b) Trade payables |
25.024 |
39.345 |
30.974 |
|
(c) Other current
liabilities |
2.830 |
3.219 |
16.301 |
|
(d) Short-term provisions |
6.911 |
8.936 |
8.588 |
|
Total Current Liabilities
(4) |
58.691 |
64.248 |
79.965 |
|
|
|
|
|
|
TOTAL |
492.618 |
471.842 |
464.551 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
135.412 |
136.725 |
139.602 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
1.881 |
1.881 |
1.881 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.357 |
0.357 |
0.357 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
61.692 |
65.700 |
66.271 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
199.342 |
204.663 |
208.111 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
59.681 |
76.243 |
36.360 |
|
(c) Trade receivables |
201.462 |
166.848 |
178.870 |
|
(d) Cash and cash
equivalents |
15.509 |
3.719 |
23.887 |
|
(e) Short-term loans and
advances |
14.375 |
16.954 |
15.192 |
|
(f) Other current assets |
2.249 |
3.415 |
2.131 |
|
Total Current Assets |
293.276 |
267.179 |
256.440 |
|
|
|
|
|
|
TOTAL |
492.618 |
471.842 |
464.551 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
915.902 |
915.029 |
806.332 |
|
|
Other Income |
5.277 |
5.104 |
1.915 |
|
|
TOTAL |
921.179 |
920.133 |
808.247 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
577.786 |
567.819 |
513.894 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
4.917 |
(0.642) |
0.153 |
|
|
Employees benefits
expense |
30.956 |
26.770 |
23.293 |
|
|
Other expenses |
222.786 |
238.380 |
217.357 |
|
|
Prior Period Items |
0.269 |
0.080 |
0.000 |
|
|
TOTAL |
836.714 |
832.407 |
754.697 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
84.465 |
87.726 |
53.550 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4.828 |
7.269 |
10.955 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
79.637 |
80.457 |
42.595 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
21.294 |
22.669 |
29.532 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
58.343 |
57.788 |
13.063 |
|
|
|
|
|
|
|
Less |
TAX |
19.987 |
20.819 |
-8.430 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
38.356 |
36.969 |
21.493 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
161.646 |
124.136 |
123.388 |
|
|
|
|
|
|
|
Add |
Transitional Depreciation
-Power Unit |
0.000 |
0.000 |
0.551 |
|
|
|
|
|
|
|
|
Transitional Depreciation
-Paper Unit |
0.000 |
0.541 |
21.296 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
200.002 |
161.646 |
124.136 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
224.082 |
261.995 |
128.585 |
|
|
Components and Stores
parts |
4.654 |
3.553 |
3.053 |
|
|
Assets (Head Box) |
4.224 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
232.960 |
265.548 |
131.638 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
81.61 |
78.66 |
45.73 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long Term Borrowing |
|
|
|
|
Bank of Baroda |
0.000 |
0.000 |
12.996 |
|
Kotak Mahindra Prime Limited |
0.000 |
0.000 |
0.377 |
|
Total |
0.000 |
0.000 |
13.374 |
|
Cash generated from operations |
52.697 |
47.121 |
(7.088) |
|
Net cash flow from operating activities |
31.426 |
25.453 |
48.503 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
80.29 |
66.55 |
80.97 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
4.55 |
5.48 |
4.51 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
15.81 |
25.29 |
22.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.42 |
1.15 |
1.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.62 |
0.63 |
0.38 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.21 |
0.25 |
0.34 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.17 |
0.19 |
0.33 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.15 |
0.18 |
0.26 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.36 |
0.40 |
0.46 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
17.49 |
12.07 |
4.89 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
4.19 |
4.04 |
2.67 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
7.79 |
7.84 |
4.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.92 |
10.61 |
6.91 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
5.00 |
4.16 |
3.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
3.98 |
2.97 |
2.75 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.79 |
0.74 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.21 |
2.20 |
3.44 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
5.00 |
4.16 |
3.21 |
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 |
30.200 |
30.200 |
30.200 |
|
Reserves & Surplus |
280.669 |
318.178 |
356.534 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
310.869 |
348.378 |
386.734 |
|
|
|
|
|
|
Long Term borrowings |
66.535 |
53.684 |
42.706 |
|
Short Term borrowings |
24.102 |
12.748 |
23.926 |
|
Current Maturities of Long term debt |
13.374 |
0.000 |
0.000 |
|
Total
borrowings |
104.011 |
66.432 |
66.632 |
|
Debt/Equity
ratio |
0.335 |
0.191 |
0.172 |
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
|
806.332 |
915.029 |
915.902 |
|
|
|
13.480 |
0.095 |
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
|
806.332 |
915.029 |
915.902 |
|
Profit |
21.493 |
36.969 |
38.356 |
|
|
2.67% |
4.04% |
4.19% |
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS:
The company during the year of operation shown upward trend in the
operations. During the year, the company has earned total income of INR 921.178
million whereas. Total Expenditure of INR 862.267 million. The net profit for
the year has been INR 38.356 million as against profit of INR 36.969 million
during the previous financial year. The director are continuously looking for
avenues for future growth of the company.
CORPORATE
INFORMATION:
A Company incorporated in 2010, engaged in manufacturing and selling all
type of M.G. Kraft paper. The Manufacturing unit of the company is situated at
Plot no. 105, Morai Railway Crossing, Village Morai, Vapi – 396191.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
From Directors and Shareholders |
42.706 |
52.802 |
|
Total |
42.706 |
52.802 |
(The above unsecured loans received from members, director and their
relatives prior to 1st April, 2014. Not to consider as deposits as per
companies act 2013.)
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B74997149 |
10372867 |
Bank of Baroda |
09/08/2012 |
02/05/2013 |
- |
705000000.0 |
Vapi Industrial Estate Branch, GIDC, Vapi – 396195, Gujarat, India |
|
2 |
B41312372 |
10359910 |
Bank of Baroda |
08/06/2012 |
- |
- |
95000000.0 |
Vapi Industrial Estate Branch, GIDC, Vapi – 396195, Gujarat, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Contingent Liabilities and commitments |
|
|
|
For non-availability of C form under Central
Sales Tax |
8.062 |
9.504 |
|
For custom duty on under Customs Act |
|
|
|
(the company has disputed demand raised by
customs authorities and its pending at Gujarat High Court) |
1.259 |
1.259 |
|
|
|
|
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
Vehicles
·
Office Equipment
·
Wind Electric Generator
·
Residential Building
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 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 64.48 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 75.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUPB |
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.