|
|
|
MIRA INFORM REPORT
|
Report No. : |
495195 |
|
Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BHALLA CHEMICAL WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
804, Block-E,
International
Trade Tower, Nehru Place, New Delhi - 110019 |
|
Tel. No.: |
91-124-2321442 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
10.02.1977 |
|
|
|
|
Com. Reg. No.: |
55-008493 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1977PTC008493 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
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|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Zirconium Compounds and
Zirconium Oxides (Registered Activity and also Confirmed by
management) |
|
|
|
|
No. of Employees
: |
75 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 1977. It is engaged as manufacturer and exporter of zirconium chemical. Management has failed to file its financials after 2015 with Registrar of Companies. As per available financials of 2017, revenue of the company has shown marginal decline in its revenue and has reported thin profit margin. The company’s average financial profile is reflected by its average solvency indicators due to leverage balance sheet profile along with unfavourable gap between trade payables and trade receivables. Rating further gets constrained by non-availability of latest financial records and vulnerability of its operating margins to volatility in prices and working capital intensive operations. However, these rating weakness gets partially offset by its long operational track of its business and acceptable reserve level. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing 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 |
|
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 = B+ |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk |
|
Date |
05.06.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Base Limits = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
05.06.2017 |
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. B.A. Kaushik |
|
Designation : |
Manager Accounts |
|
Contact No.: |
91-124-2321442 |
|
Date : |
03.03.2018 |
LOCATIONS
|
Registered Office: |
804, Block-E,
International
Trade Tower, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office / Factory1: |
Daulatabad Road, Gurugram- 122001, Haryana, India |
|
Tel. No.: |
91-124-2321442, 2320957, 3268482 / 3268483 |
|
|
|
|
Factory 2 : |
Located at: · Bhiwadi |
DIRECTORS
As on 2018
|
Name : |
Mr. Virinder Singh Bhalla |
|
Designation : |
Managing Director |
|
Address : |
M-237, Greater Kailash, Part II, New Delhi – 110048, India |
|
Date of Appointment : |
10.02.1977 |
|
DIN No.: |
02019036 |
|
|
|
|
Name : |
Mr. Sameer Bhalla |
|
Designation : |
Director |
|
Address : |
M-237, Greater Kailash, Part II, New Delhi – 110048, India |
|
Date of Appointment : |
01.05.1995 |
|
DIN No.: |
02019037 |
|
|
|
|
Name : |
Mr. Bhalla Shashi |
|
Designation : |
Director |
|
Address : |
M-237, Greater Kailash, Part II, New Delhi – 110048, India |
|
Date of Appointment : |
10.02.1977 |
|
DIN No.: |
02019038 |
KEY EXECUTIVES
|
Name : |
Mr. B.A. Kaushik |
|
Designation : |
Manager Accounts |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Virinder Singh Bhalla |
33966 |
33.30 |
|
Bhalla Shashi |
48790 |
47.84 |
|
Sameer Bhalla |
19210 |
18.83 |
|
Bhalla Properties and Investment, India |
34 |
0.03 |
|
Total |
102000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Zirconium Compounds and
Zirconium Oxides (Registered Activity and also Confirmed by
management) |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
|||||
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Selling : |
L/C, Advance Payment, Cheque, Cash and Credit (30 / 60 / 90 Days) /
Others |
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Purchasing : |
L/C, Advance Payment, Cheque, Cash and Credit (30 / 60 / 90 Days) /
Others |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers, End Users
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No. of Employees : |
75 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Arihant Jain and Company Chartered Accountants |
|
Address : |
3808-A, David Street, Darya Ganj, New Delhi - 110002, India |
|
Tel. No.: |
91-11-23272968 |
|
Mobile No.: |
91-9412181418 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKPJ4752C |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2015
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
INR 100/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
102000 |
Equity Shares |
INR 100/- each |
INR 10.200
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.200 |
10.200 |
10.200 |
|
(b) Reserves & Surplus |
79.044 |
77.889 |
76.656 |
|
(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) |
89.244 |
88.089 |
86.856 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
67.457 |
48.928 |
51.215 |
|
(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) |
67.457 |
48.928 |
51.215 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
25.992 |
25.865 |
52.057 |
|
(b) Trade
payables |
24.735 |
40.407 |
31.566 |
|
(c) Other
current liabilities |
9.792 |
8.430 |
6.918 |
|
(d) Short-term
provisions |
2.029 |
2.437 |
2.849 |
|
Total Current
Liabilities (4) |
62.548 |
77.139 |
93.390 |
|
|
|
|
|
|
TOTAL |
219.249 |
214.156 |
231.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
102.144 |
100.650 |
90.868 |
|
(ii)
Intangible Assets |
0.060 |
0.060 |
0.060 |
|
(iii)
Capital work-in-progress |
15.454 |
15.448 |
15.447 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
117.658 |
116.158 |
106.375 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
51.258 |
50.659 |
50.984 |
|
(c) Trade
receivables |
17.425 |
16.427 |
16.130 |
|
(d) Cash and
cash equivalents |
11.531 |
10.541 |
30.757 |
|
(e)
Short-term loans and advances |
21.377 |
20.371 |
27.215 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
101.591 |
97.998 |
125.086 |
|
|
|
|
|
|
TOTAL |
219.249 |
214.156 |
231.461 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
160.354 |
178.366 |
226.974 |
|
|
Other Income |
1.611 |
4.033 |
2.173 |
|
|
TOTAL |
161.965 |
182.399 |
229.147 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
111.318 |
131.747 |
180.303 |
|
|
(Increase) / Decrease in
inventories of finished goods, semi finished goods and traded goods |
1.030 |
(3.245) |
(6.478) |
|
|
Employees benefits
expense |
3.754 |
4.243 |
3.682 |
|
|
Other expenses |
26.112 |
27.484 |
29.113 |
|
|
TOTAL |
142.214 |
160.229 |
206.620 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
19.751 |
22.170 |
22.527 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
12.377 |
13.771 |
13.848 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7.374 |
8.399 |
8.679 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
6.118 |
6.731 |
6.714 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.256 |
1.668 |
1.965 |
|
|
|
|
|
|
|
Less |
TAX |
0.100 |
0.436 |
0.662 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.156 |
1.232 |
1.303 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
77.888 |
76.656 |
75.353 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
79.044 |
77.888 |
76.656 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
775.92 |
763.61 |
751.53 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
39.66 |
33.62 |
25.94 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
9.20 |
10.86 |
14.07 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
81.10 |
111.95 |
63.90 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.39 |
0.44 |
0.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.17 |
0.19 |
0.21 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.59 |
0.59 |
0.62 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.05 |
0.85 |
1.19 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.70 |
0.88 |
1.08 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.32 |
1.32 |
1.22 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.60 |
1.61 |
1.63 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.72 |
0.69 |
0.57 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.53 |
0.58 |
0.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
1.30 |
1.40 |
1.50 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.62 |
1.27 |
1.34 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.80 |
0.61 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.41 |
0.41 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
9.16 |
7.33 |
10.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.62 |
1.27 |
1.34 |
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 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.200 |
10.200 |
10.200 |
|
Reserves & Surplus |
76.656 |
77.889 |
79.044 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
86.856 |
88.089 |
89.244 |
|
|
|
|
|
|
long-term borrowings |
51.215 |
48.928 |
67.457 |
|
Short term borrowings |
52.057 |
25.865 |
25.992 |
|
Total
borrowings |
103.272 |
74.793 |
93.449 |
|
Debt/Equity
ratio |
1.189 |
0.849 |
1.047 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
226.974 |
178.366 |
160.354 |
|
|
|
(21.416) |
(10.098) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
226.974 |
178.366 |
160.354 |
|
Profit |
1.303 |
1.232 |
1.156 |
|
|
0.57% |
0.69% |
0.72% |
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 |
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) |
Yes |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
|
|
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 |
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 |
Yes |
|
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 |
Note:
The registered office of the company has been shifted from M-237,
Greater Kailash, Part-II, New Delhi – 110048, India to the present
w.e.f.17.05.2012
UNSECURED LOAN
|
PARTICULAR |
31.03.2015 (INR
in Million) |
31.03.2014 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From Directors |
35.360 |
11.569 |
|
Deferred Payment Liabilities |
0.025 |
0.025 |
|
Provision for gratuity |
1.481 |
1.564 |
|
Total |
36.866 |
13.158 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C77644987 |
10576560 |
PUNJAB NATIONAL BANK |
09/06/2015 |
15/01/2016 |
- |
30000000.0 |
GREATER KAILASH PART-1 BRANCH NEW DELHI-110048 INDIA |
|
2 |
B68869692 |
10405849 |
Corporation Bank |
05/02/2013 |
- |
- |
25000000.0 |
M-3&4,GREATER KAILASH-IINEW DELHI-110048 INDIA |
|
3 |
A71760425 |
10089737 |
Corporation Bank |
18/12/2007 |
03/09/2009 |
- |
30000000.0 |
M-3&4,GREATER KAILASH-IINEW DELHI-110048 INDIA |
|
4 |
A71761886 |
10089556 |
Corporation Bank |
18/12/2007 |
03/09/2009 |
- |
60000000.0 |
M-3&4,GREATER KAILASH-IINEW DELHI-110048 INDIA |
|
5 |
A40998759 |
10016782 |
Small Industries Development Bank Of India |
24/08/2006 |
06/06/2008 |
- |
5400000.0 |
UDYOG MINAR, VANIJYA NIKUNJ,UDYOG VIHAR PHASE V, GURUGRAM – 122016 INDIA |
|
6 |
G44997781 |
90035722 |
Corporation Bank |
01/03/2000 |
21/04/2017 |
- |
114000000.0 |
GREATER KAILASH II BRANCHM-3&4, GREATER KAILASH IINEW DELHI-122001 INDIA |
|
7 |
Y10114931 |
90034836 |
CORPORATION BANK |
11/09/1998 |
12/06/2003 |
- |
27500000.0 |
M - 4GREATER KAILASH IINEW DELHI INDIA |
|
8 |
C54600739 |
10265835 |
Rajasthan Financial Corporation |
29/06/2010 |
- |
22/05/2015 |
29400000.0 |
UDYOG BHAWANTILAK MARG JAIPUR-302005 INDIA |
FIXED ASSETS
- Land
- Factory
building
- Moter Vehicle
- Goodwill
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
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 65.10 |
|
|
1 |
INR 79.59 |
|
Euro |
1 |
INR 90.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
YES |
|
--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.