MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

498313

Report Date :

19.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

CDE ASIA LIMITED (w.e.f. 21.11.2006)

 

 

Formerly Known As :

TORSA METALMEN LIMITED (w.e.f. 30.04.2004)

 

GM TRANS PAK PRIVATE LIMITED

 

 

Registered Office :

EcoSpace Business Park, Block 4A, Floor 6, Action Area II, New Town Rajarhat, Kolkata-700 156, West Bengal

Tel. No.:

91-33-3029 3800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

16.03.2000

 

 

Com. Reg. No.:

21-118249

 

 

Capital Investment / Paid-up Capital :

INR 36.640  Million

 

 

CIN No.:

[Company Identification No.]

U29230WB2000PTC118249

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

19AACCT3283D1ZD

 

 

TIN No:

19704356028

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALC06088F

 

 

PAN No.:

[Permanent Account No.]

AACCT3283D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :
  • Manufacturer of machinery for mining, quarrying and construction

 

  • Repair and maintenance of machinery for mining quarrying and construction (Registered Activity)

 

 

No. of Employees :

Not Divulged

 

 

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+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2000. It is a manufacturer of machinery for mining, quarrying and construction and also provides repairs and maintenance services of machinery.

 

For the financial year 2017, the company has achieved revenue growth of 34.64% as compared to the previous year along with a fair profit margin of 10.08%.

 

The sound financial risk profile of the company is marked by adequate net worth base along with negligible debt balance sheet profile.

 

Rating takes into account the subject’s long established track record of business operations along with extensive experience of its promoters.

 

These strengths are partially offset by large working capital requirements and exposure to cyclicality in end user industries.

 

Payment 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.

 

 

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

CRISIL

Rating

Long Term Borrowing (BBB+)

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

31.01.2018

 

Rating Agency Name

CRISIL

Rating

Short Term Borrowing (A2)

Rating Explanation

Strong degree of safety and low credit risk.

Date

31.01.2018

 

 

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 19.03.2018

 

 

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 DENIED

 

Management non-cooperative (Tel No.: 91-33-3029 3800)

 

 

LOCATIONS

 

Registered Office :

EcoSpace Business Park, Block 4A, Floor 6, Action Area II, New Town Rajarhat, Kolkata-700 156, West Bengal, India

Tel. No.:

91-33-3029 3800

Fax No.:

91-33-3029 3802

E-Mail :

ajain@cdeasia.com

info@cdeasia.com

Website :

https://www.cdeglobal.com

 

 

Overseas Office:

  • Ballyreagh Industrial Estate Cookstown County Tyrone BT80 9DG Northern Ireland

Phone:+44 28 8676 7900

 

  • Avenida do Contorno, Nº 6594 Bairro Funcionários Edifício Amadeus - 16º Andar/Sala: 28 Belo Horizonte - Minas Gerais 30110-044, Brazil
    Phone: +55 31 3555 3454

 

  • 221 James Jackson Avenue Cary, North Carolina   27513 United States
    Toll Free: 844-4-CDEUSA

Phone: +1 919-535-3205

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Manish Naresh Kumar Bhartia

Designation :

Managing Director

Address :

Space Town, Block-2, Flat-4E, Raghunathpur, Kolkata – 700 052, West Bengal, India

Date of Birth/Age :

04.03.1971

Date of Appointment :

27.09.2003

DIN No.:

01746534

 

 

Name :

Mr. Anthony Joseph Convery

Designation :

Director

Address :

12 Springhill Road, Moneymore, CO Derry BT457NG, Derry, BT457NG

Date of Birth/Age :

12.10.1960

Date of Appointment :

20.01.2007

DIN No.:

02164706

 

 

Name :

Mr. Brendan Joseph Mcgurgan

Designation :

Director

Address :

4 Lisduff Grange, Benburb, Dungannon BT717JX, Benburb

Date of Birth/Age :

09.05.1975

Date of Appointment :

23.02.2007

DIN No.:

02238492

 

 

Name :

Enda Michael Ivanoff

Designation :

Director

Address :

120 Akfield Mews, Templemore Road, London Derry

Date of Birth/Age :

30.11.1974

Date of Appointment :

23.10.2007

DIN No.:

02164316

 

 

Name :

Mr. Naresh Kumar Bhartia

Designation :

Director

Address :

Beharilal Bhartia and Company, 205 Sri Manta Market, A.T. Road, Guwahati -781001, Assam, India

Date of Birth/Age :

07.01.1940

Date of Appointment :

12.04.2004

DIN No.:

01529453

 

 

Name :

Ms. Rajni Bhartia

Designation :

Director

Address :

Space Town, Block-2, Flat-4E, Raghunathpur, Kolkata – 700 052, West Bengal, India

Date of Birth/Age :

05.05.1975

Date of Appointment :

21.05.2009

DIN No.:

00784741

 

 

KEY EXECUTIVES

 

Name :

Mr. Deepak Kumar Khaitan

Designation :

Practicing Company Secretary

Address :

GEM House, 5B Russell Street, Unit 7B, 7th Floor, Kolkata – 700071, West Bengal, India

Mob. No:

91-9007055560

Email:

info@deepakkhaitan.com

khaitan52@gmail.com

officedkk@gmail.com

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Names of Shareholders

 

No. of Shares

CDE Global Investments Limited, United Kingdom

 

219840

Manish Bhartia

 

134223

Naresh Kumar Bhartia Karta of Naresh Kumar Bhartia (HUF)

 

333

Shakuntala Devi Bhartia

 

1700

Rajni Bhartia

 

10104

Riya Bhartia

 

100

Raina Bhartia

 

100

Total

 

366400

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 30.09.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

40.00

Promoters (Body corporate)

60.00

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :
  • Manufacturer of machinery for mining, quarrying and construction

 

  • Repair and maintenance of machinery for mining quarrying and construction (Registered Activity)

 

 

Products / Services :

Item Code No.

Products/Services Description

84741090

Sorting, Scaring, Separating, Washing Machines of other Mineral Substances

72042990

Ferrous Waste and Scrap; Remelting Scrap Ingots

99871590

Maintenance and Repair Services of Other Equipment

2924

Sand Washing Plant (manufacturer of machinery for mining, quarrying and construction)

29248

Service operation (Repair and maintenance of machinery for mining quarrying and construction) 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Banker Name :

Indusind Bank Limited

Branch :

24, Park Street, Kolkata - 700016, West Bengal, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India

 

  • Canara Bank, Park Street Branch, 8/1, Moddleton Row, Kolkata - 700071, West Bengal, India

 

  • Axis Bank Limited, Corporate Banking Branch (CBB), 1, Shakespeare Sarani, AC Market, 3rd Floor, Kolkata-  700071, West Bengal, India

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Term Loan from Banks

9.504

13.344

Commercial loan from Others

0.000

0.270

Short-term borrowings

 

 

Loan repayable on Demand

 

 

From Banks (Cash Credit)

0.000

120.106

From Banks (Buyers Credit) 

0.000

9.984

Total

9.504

143.704

 

Financial Institutions:

  • Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India

 

  • Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India

 

 

Auditors :

 

Name :

Maheshwari and Associates

Chartered Accountants

Address :

8-B, Middleton Street, 6A, Geetanjali, Kolkata – 700071, West Bengal, India

Tel. No.:

91-33-22298936/ 6758/ 3237/ 4473

Fax No.:

91-33-22264140/ 22655830

E-Mail :

Kolkata@maheshwariassociates.com

Income-tax PAN of auditor or auditor's firm :

AAFFM3299L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:

CDE Global Investments Limited, United Kingdom

 

 

Enterprises over which KMF and their relatives have significant influence:

  • CDE Global Limited
  • Diemme India Limited

 

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

400000

Equity Shares

INR 100/- each

INR 40.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

366400

Equity Shares

INR 100/- each

INR 36.640 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

36.640

36.640

36.640

(b) Reserves & Surplus

120.105

39.779

32.244

(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)

156.745

76.419

68.884

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

9.504

13.614

17.881

(b) Deferred tax liabilities (Net)

11.468

10.475

8.343

(c) Other long term liabilities

14.973

15.350

7.945

(d) long-term provisions

1.529

1.295

1.334

Total Non-current Liabilities (3)

37.474

40.734

35.503

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

130.090

115.580

(b) Trade payables

64.592

148.048

138.609

(c) Other current liabilities

151.945

87.701

71.868

(d) Short-term provisions

6.863

0.134

7.094

Total Current Liabilities (4)

223.400

365.973

333.151

 

 

 

 

TOTAL

417.619

483.126

437.538

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

128.215

106.291

112.560

(ii) Intangible Assets

2.375

2.840

3.037

(iii) Capital work-in-progress

3.577

0.000

0.000

(iv) Intangible assets under development

0.000

2.504

2.504

(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

0.531

0.531

0.550

(e) Other Non-current assets

9.729

5.702

3.959

Total Non-Current Assets

144.427

117.868

122.610

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.108

0.109

0.103

(b) Inventories

96.392

120.510

97.928

(c) Trade receivables

127.549

193.914

174.926

(d) Cash and cash equivalents

20.496

16.812

10.672

(e) Short-term loans and advances

22.058

32.301

27.285

(f) Other current assets

6.589

1.612

4.014

Total Current Assets

273.192

365.258

314.928

 

 

 

 

TOTAL

417.619

483.126

437.538

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

495.819

360.856

523.512

 

Other Income

22.052

7.861

37.028

 

TOTAL

517.871

368.717

560.540

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

187.583

195.957

283.248

 

Purchases of Stock-in-Trade

6.781

7.120

3.139

 

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

25.003

(28.055)

(1.073)

 

Employees benefits expense

52.066

43.889

64.237

 

Other expenses

139.533

110.416

177.487

 

TOTAL

410.966

329.327

527.038

 

 

 

 

 

 

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

106.905

39.390

33.502

 

 

 

 

 

Less

FINANCIAL EXPENSES

18.540

19.560

13.380

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

88.365

19.830

20.122

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

6.614

7.193

7.351

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

81.751

12.637

12.771

 

 

 

 

 

Less

TAX

27.641

7.534

4.119

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

54.110

5.103

8.652

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

138.999

45.417

43.013

 

TOTAL EARNINGS

138.999

45.417

43.013

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

52.412

26.137

49.321

 

TOTAL IMPORTS

52.412

26.137

49.321

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

147.68

20.56

23.91

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

4.110

4.266

4.224

Cash generated from operations

160.851

26.287

(3.503)

Net cash flows from (used in) operating activity

159.173

20.165

(13.854)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

93.90

196.14

121.96

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

3.89

1.86

2.99

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

121.30

266.09

176.66

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

1.11

0.33

0.34

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.80

0.35

0.28

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.57

0.79

0.81

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.09

1.94

2.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.43

4.79

4.84

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.86

1.46

1.71

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

5.77

2.01

2.50

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

10.91

1.41

1.65

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

12.96

1.06

1.98

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

34.52

6.68

12.56

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.22

1.00

0.95

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.79

0.67

0.65

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.38

0.16

0.16

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.37

4.04

3.76

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.22

1.00

0.95

 

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

36.640

36.640

36.640

Reserves & Surplus

32.244

39.779

120.105

Net worth

68.884

76.419

156.745

 

 

 

 

long-term borrowings

17.881

13.614

9.504

Short term borrowings

115.580

130.090

0.000

Current maturities of long-term debts

4.224

4.266

4.110

Total borrowings

137.685

147.970

13.614

Debt/Equity ratio

1.999

1.936

0.087

 

 

 

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

523.512

360.856

495.819

 

 

(31.070)

37.401

 

 

 

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

523.512

360.856

495.819

Profit /(Loss)

8.652

5.103

54.110

 

1.65%

1.41%

10.91%

 

 

 

 

 

 

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

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

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 two/ 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

 

 

 

 

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

C53463857

10570471

Axis Bank Limited

28/11/2014

-

-

1200000.0

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN

2

G36149813

10400782

Axis Bank Limited

22/01/2013

25/01/2017

-

238700000.0

Corporate Banking Branch (CBB)1, Shakespeare Sarani, AC Market, 3rd FloorKolkataWB700071IN

3

C41921099

10403308

TATA CAPITAL FINANCIAL SERVICES LIMITED

22/01/2013

-

19/01/2015

816127.0

One Forbes,Dr. V. B. Gandhi Marg, FortMumbaiMH400001IN

4

B96030481

10077031

Canara Bank

16/10/2007

12/10/2012

16/01/2014

139500000.0

Park Street Branch,8/1, Moddleton Row,KolkataWB700071IN

5

B72591126

10339651

RELIANCE CAPITAL LTD

29/02/2012

-

25/03/2013

30000000.0

"H" BLOCK 1ST FLOORDhirubhai Ambani Knowledge City, KoparkhairneNavi MumbaiMH400710IN

6

A85913762

10088189

KOTAK MAHINDRA BANK LIMITED

29/07/2007

-

28/04/2010

1912600.0

36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN

7

A85914380

10046290

KOTAK MAHINDRA BANK LTD

28/02/2007

-

28/04/2010

1200000.0

15 PARK STREET 7TH FLOOR BLOCK CAPEEJAY HOUSE RETAIL ASSET DIVISIONKOLKATAWB700016IN

8

A73435729

10119639

TATA CAPITAL LIMITED

25/08/2008

-

15/11/2009

30000000.0

ONE FORBESDR V B GANDHI MARG,FORTMUMBAIMH400001IN

9

A56281710

10012740

SYNDICATE BANK

26/06/2006

-

10/02/2009

780000.0

SALT LAKE CITY BRANCHSALT LAKE CITYKOLKATAWB700064IN

10

A26544049

10036465

INDUSIND BANK LIMITED

20/12/2006

-

15/10/2007

51446000.0

24,PARK STREETKOLKATAWB700016IN

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Excise Duty

1.65

1.168

 

 

FIXED ASSETS

  • Land
  • Building
  • Furniture and Fixture
  • Computer
  • Plant and Machinery
  • Vehicle
  • Office Equipment
  • Electrical Fitting

 

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 64.87

UK Pound

1

INR 90.49

Euro

1

INR 79.91

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

PYK

 

 

Report Prepared by :

MTN

 

 

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)

 

 

 

 

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

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