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MIRA INFORM REPORT
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Report No. : |
507390 |
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Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
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Name : |
AEQUS PRIVATE LIMITED (w.e.f. 05.03.2014) |
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Formerly Known
As : |
QUEST
GLOBAL MANUFACTURING PRIVATE LIMITED (w.e.f. 24.03.2011) QUEST
MACHINING AND MANUFACTURING PRIVATE LIMITED MECHANICAL
TRAINING ACADAMY PRIVATE LIMITED |
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Registered
Office : |
No. 55, Whitefield Main Road, Mahadevapura Post, Bengaluru Bangalore - 560048, Karnataka |
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Tel. No.: |
91-831-3090000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
27.03.2000 |
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Com. Reg. No.: |
08-026760 |
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Capital Investment
/ Paid-up Capital : |
INR 1483.785 Million |
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CIN No.: [Company Identification
No.] |
U80302KA2000PTC026760 |
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IEC No.: [Import-Export Code 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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PAN No.: [Permanent Account No.] |
AACCM3073E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of machining and manufacturing of precision engineering products in aerospace and oil and gas segments. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
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 |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 4776000 |
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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 was incorporated in the year 2000. It is primarily engaged in the business of machining and manufacturing of precision engineering products in aerospace and Oil and Gas segments. Management has failed to file its financials with Registrar of Companies for the FY 2017. As per the available financial of 2016, the revenue of the company has increased by 14.39% but has incurred operational losses. Moderate financial profile of the company is marked by low reserve base as compared to its capital along with negligible debt level. Rating is constrained on account of unfavourable gap between trade payables and trade receivables and absence of latest financials. However, rating weakness is partially offset by equity infused by its promoters. Payment seems to be slow. In view of aforesaid, 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 |
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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
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Rating Agency Name |
ICRA |
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Rating |
Term Loan= BBB |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
22.03.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Non-Fund Based Limits= A3+ |
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Rating Explanation |
Moderate degree of safety and higher credit risk. |
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Date |
22.03.2017 |
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
31-03-2018.
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 03.05.2018
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 91-831-3090000
LOCATIONS
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Registered Office : |
No. 55, Whitefield Main Road, Mahadevapura Post, Bengaluru Bangalore - 560048, Karnataka, India |
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Tel. No.: |
91-831-3090000 |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office/ Factory : |
Hattargi Village Economic Zone, 437/A, Hattargi Village, Hukkeri
Taluk, Belgaum – 591243, Karnataka, India |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Ajay Aravind Prabhu |
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Designation : |
Director |
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Address : |
No.67, Purva Park, Ridge G.C. Palya, Mahadevapura, Bangalore – 560048, Karnataka, India |
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Date of Birth/Age : |
19.07.1968 |
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Date of Appointment : |
31.07.2003 |
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PAN No.: |
AIVPP7230J |
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DIN No.: |
00477195 |
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Name : |
Mr. Aravind Shivaputrappa Melligeri |
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Designation : |
Director |
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Address : |
23, Grand Colonial, Dr. The Woodlands TX 77382 US |
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Date of Birth/Age : |
18.11.1971 |
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Date of Appointment : |
27.03.2000 |
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PAN No.: |
ADYPK8511D |
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DIN No.: |
00787735 |
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Other Directorship:
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Name : |
Mr. Rajeev Kaul |
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Designation : |
Director |
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Address : |
H. No. 7, Mango Meadows, 3 Road Railway Gate, Khanapur Road, Udyambag, Majgaon Belgaum – 590006, Karnataka, India |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
01468590 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Ravi Mallikarjun Hugar |
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Designation : |
Company Secretary |
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Address : |
Plot No. 289, Sector II, Shivabasavanagar, Belagavi – 590010, Karnataka, India |
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Date of Appointment : |
09.05.2008 |
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PAN No.: |
ACLPH2883D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
SHAREHOLDERS AND ALLOTTEES DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.11.2016
|
Category |
Percentage |
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Promoters (Individual/Hindu Undivided Family- Indian) |
53.97 |
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Promoters (Body corporate) |
32.52 |
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Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
2.14 |
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Public/Other than promoters [Individual/Hindu Undivided Family-Non-resident Indian (NRI)] |
0.46 |
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Public/Other than promoters [Individual/Hindu Undivided Family-Foreign national (other than NRI)] |
6.10 |
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Public/Other than promoters (Body corporate) |
0.91 |
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Public/Other than promoters [Others-(Indian Trusts)] |
3.90 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of machining and manufacturing of precision engineering products in aerospace and oil and gas segments. [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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
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Address : |
12th and 13th Floor, "UB City" Canberra Block, No. 24,Vittal Malya Road, Bangalore, India |
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Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : (As on 31.03.2016) |
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Associates : (As on 31.03.2016) |
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Joint ventures (held through
subsidiary as at March 31, 2016) : (As on 31.03.2016) |
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Joint venture of
the Company : (As on 31.03.2016) |
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Enterprises in which
individuals owning interest in the Company, or their relatives have control
or significant influence : (As on 31.03.2016) |
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CAPITAL STRUCTURE
After 30.11.2016
Authorised Capital : INR 1992.300 Million
Issued, Subscribed & Paid-up Capital : INR 1992.241
Million
As on 30.11.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
156750000 |
Equity Shares |
INR 10/- each |
INR 1567.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
153878488 |
Equity Shares |
INR 10/- each |
INR 1538.784
Million |
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As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
156750000 |
Equity Shares |
INR 10/- each |
INR 1567.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
148378488 |
Equity Shares |
INR 10/- each |
INR 1483.785
Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
1483.785 |
1121.354 |
1037.354 |
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(b) Reserves & Surplus |
187.791 |
(253.447) |
(262.893) |
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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) |
1671.576 |
867.907 |
774.461 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
73.137 |
116.956 |
5.714 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
5.572 |
3.534 |
1.805 |
|
(d) Long-term
provisions |
4.646 |
2.835 |
1.012 |
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Total Non-current
Liabilities (3) |
83.355 |
123.325 |
8.531 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
147.790 |
169.073 |
84.172 |
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(b) Trade
payables |
85.373 |
100.525 |
80.179 |
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(c) Other
current liabilities |
35.584 |
47.408 |
100.288 |
|
(d) Short-term
provisions |
4.953 |
4.291 |
2.376 |
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Total Current
Liabilities (4) |
273.700 |
321.297 |
267.015 |
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TOTAL |
2028.631 |
1312.529 |
1050.007 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i) Tangible
assets |
241.642 |
216.135 |
186.480 |
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(ii)
Intangible Assets |
5.428 |
6.670 |
0.800 |
|
(iii)
Capital work-in-progress |
0.231 |
9.657 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1270.879 |
551.944 |
511.675 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
69.464 |
61.575 |
109.775 |
|
(e) Other
Non-current assets |
1.396 |
1.774 |
0.451 |
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Total Non-Current
Assets |
1589.040 |
847.755 |
809.181 |
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(2)
Current assets |
|
|
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
171.665 |
136.914 |
80.928 |
|
(c) Trade
receivables |
137.406 |
174.269 |
105.335 |
|
(d) Cash
and cash equivalents |
69.268 |
132.628 |
2.236 |
|
(e)
Short-term loans and advances |
60.404 |
20.249 |
52.044 |
|
(f) Other
current assets |
0.848 |
0.714 |
0.283 |
|
Total
Current Assets |
439.591 |
464.774 |
240.826 |
|
|
|
|
|
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TOTAL |
2028.631 |
1312.529 |
1050.007 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
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SALES |
|
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Income |
455.899 |
398.526 |
411.813 |
|
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Other Income |
25.579 |
16.652 |
1.873 |
|
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TOTAL |
481.478 |
415.178 |
413.686 |
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Less |
EXPENSES |
|
|
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|
Cost of Materials
Consumed |
247.768 |
225.478 |
182.119 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.282) |
(44.278) |
(15.136) |
|
|
Employees benefits
expense |
94.861 |
89.238 |
81.618 |
|
|
Other expenses |
155.136 |
132.886 |
112.823 |
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Exceptional Items |
0.000 |
0.000 |
(1.955) |
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TOTAL |
462.483 |
403.324 |
359.469 |
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PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
18.995 |
11.854 |
54.217 |
|
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|
|
|
|
|
Less |
FINANCIAL EXPENSES |
35.993 |
12.836 |
4.537 |
|
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|
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PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
(16.998) |
(0.982) |
49.680 |
|
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|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
42.800 |
31.985 |
36.515 |
|
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|
PROFIT/ (LOSS) BEFORE TAX |
(59.798) |
(32.967) |
13.165 |
|
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|
|
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|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
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|
|
|
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|
PROFIT/ (LOSS) AFTER TAX
|
(59.798) |
(32.967) |
13.165 |
|
|
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|
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EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
445.030 |
396.906 |
402.684 |
|
|
TOTAL EARNINGS |
445.030 |
396.906 |
402.684 |
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IMPORTS |
|
|
|
|
|
Raw materials and spares |
237.236 |
211.735 |
151.122 |
|
|
Capital Goods |
46.640 |
43.988 |
116.588 |
|
|
TOTAL IMPORTS |
283.876 |
255.723 |
267.710 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.52) |
(0.32) |
-- |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
24.017 |
17.211 |
3.429 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(7.422) |
(71.876) |
(45.835) |
|
Net cash flow from operating activity |
(19.153) |
(81.445) |
(47.492) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
110.01 |
159.61 |
93.36 |
|
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|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
3.32 |
2.29 |
3.91 |
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|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
125.77 |
162.73 |
160.69 |
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|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.11 |
0.09 |
0.67 |
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|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.08 |
0.05 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.18 |
0.35 |
0.26 |
|
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|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.15 |
0.35 |
0.12 |
|
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|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.16 |
0.37 |
0.34 |
|
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|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.15 |
0.27 |
0.24 |
|
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|
|
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|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.53 |
0.92 |
11.95 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
(13.12) |
(8.27) |
3.20 |
|
|
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|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(2.95) |
(2.51) |
1.25 |
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|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(3.58) |
(3.80) |
1.70 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.61 |
1.45 |
0.90 |
|
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|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.98 |
1.02 |
0.60 |
|
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|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.82 |
0.66 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.17 |
0.27 |
0.09 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.61 |
1.45 |
0.90 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
1037.354 |
1121.354 |
1483.785 |
|
Reserves & Surplus |
(262.893) |
(253.447) |
187.791 |
|
Net worth |
774.461 |
867.907 |
1671.576 |
|
|
|
|
|
|
long-term borrowings |
5.714 |
116.956 |
73.137 |
|
Short term borrowings |
84.172 |
169.073 |
147.790 |
|
Current Maturities of
Long term debt |
3.429 |
17.211 |
24.017 |
|
Total borrowings |
93.315 |
303.240 |
244.944 |
|
Debt/Equity ratio |
0.120 |
0.349 |
0.147 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
411.813 |
398.526 |
455.899 |
|
|
|
(3.226) |
14.396 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
411.813 |
398.526 |
455.899 |
|
Profit/(Loss) |
13.165 |
(32.967) |
(59.798) |
|
|
3.20% |
(8.27%) |
(13.12%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1483.785 |
1121.354 |
|
(b) Reserves &
Surplus |
|
(103.697) |
(350.058) |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
4.533 |
0.000 |
|
Minority Interest |
|
24.535 |
23.861 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1409.156 |
795.157 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1289.167 |
572.914 |
|
(b) Deferred tax
liabilities (Net) |
|
25.203 |
(1.176) |
|
(c) Other long term
liabilities |
|
165.719 |
14.873 |
|
(d) long-term provisions |
|
35.768 |
8.844 |
|
Total Non-current
Liabilities (3) |
|
1515.857 |
595.455 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1039.653 |
509.223 |
|
(b) Trade payables |
|
838.796 |
286.762 |
|
(c) Other current
liabilities |
|
728.770 |
165.606 |
|
(d) Short-term provisions |
|
238.759 |
20.182 |
|
Total Current Liabilities
(4) |
|
2845.978 |
981.773 |
|
|
|
|
|
|
TOTAL |
|
5770.991 |
2372.385 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2089.923 |
880.207 |
|
(ii) Intangible Assets |
|
179.446 |
19.783 |
|
(iii) Capital
work-in-progress |
|
159.195 |
239.954 |
|
(iv) Intangible assets
under development |
|
3.488 |
0.000 |
|
(b) Non-current
Investments |
|
78.488 |
78.527 |
|
(d) Long-term Loan and Advances |
|
212.320 |
150.152 |
|
(e) Other Non-current
assets |
|
4.883 |
2.087 |
|
Total Non-Current Assets |
|
2727.743 |
1370.710 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1578.171 |
403.498 |
|
(c) Trade receivables |
|
718.320 |
395.945 |
|
(d) Cash and cash
equivalents |
|
397.795 |
168.364 |
|
(e) Short-term loans and
advances |
|
341.989 |
32.848 |
|
(f) Other current assets |
|
6.973 |
1.020 |
|
Total Current Assets |
|
3043.248 |
1001.675 |
|
|
|
|
|
|
TOTAL |
|
5770.991 |
2372.385 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
2814.388 |
1323.372 |
|
|
Other Income |
|
16.745 |
4.629 |
|
|
TOTAL |
|
2831.133 |
1328.001 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1200.440 |
630.549 |
|
|
Purchases of Stock-in-Trade |
|
3.033 |
12.076 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(144.276) |
(104.581) |
|
|
Employees benefits
expense |
|
834.647 |
290.341 |
|
|
Other expenses |
|
781.681 |
376.268 |
|
|
Exceptional Items |
|
0.000 |
(144.709) |
|
|
TOTAL |
|
2675.525 |
1059.944 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
155.608 |
268.057 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
168.615 |
41.290 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
(13.007) |
226.767 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
235.865 |
130.762 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
(248.872) |
96.005 |
|
|
|
|
|
|
|
Less |
TAX |
|
10.965 |
2.455 |
|
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS)
FOR PERIOD BEFORE MINORITY INTEREST |
|
(259.837) |
93.550 |
|
|
|
|
|
|
|
|
PROFIT (LOSS) OF MINORITY
INTEREST |
|
7.908 |
6.868 |
|
|
SHARE OF PROFIT
(LOSS) OF ASSOCIATES |
|
(13.074) |
(2.616) |
|
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS)
FOR PERIOD |
|
(265.003) |
97.802 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
(2.31) |
0.94 |
|
|
Diluted |
|
(2.31) |
0.93 |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
(As on 31.03.2016)
The Company was incorporated on March 27, 2000. The Company was engaged in rendering training services in engineering design software till March 31, 2006. Effective April 1, 2006, the Company has ceased rendering training services and started the business of machining and manufacturing of precision engineering products in aerospace and Oil and Gas segments.
On August, 2008, the Company obtained approval from Office of the Cochin Special Economic Zone Assistant Commissioner of Customs, Government of India to carry on the operations relating to manufacture and export of aerospace, oil, gas and other machined parts under SEZ unit ('Unit I'), commercial operation commenced on April 14, 2010.
Till March 2013, the Company, was carrying on its business for all sectors through 'Unit I' located at Special Economic Zone ('SEZ') Belgaum, Karnataka. On June 30, 2013, the Company had started additional two business units registered separately as 'Unit II' and 'Unit III' with SEZ authorities, to carry on the operations relating to manufacture of machined parts for Actuation systems (part of aerospace sector) and Oil and Gas customers, respectively, resulting in Unit I carrying on business solely for aerospace sector. Further, on July 31, 2013, pursuant to a business transfer agreement 'Unit I' was transferred as a going concern along with all its assets and liabilities to a step down subsidiary, AeroStructures Manufacturing India Private Limited, of the Company.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
0.000 |
50.250 |
|
|
|
|
|
Total |
0.000 |
50.250 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G79410940 |
100150821 |
KOTAK MAHINDRA BANK LIMITED |
12/12/2017 |
16/02/2018 |
- |
233000000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
2 |
C61207080 |
10584942 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
28/07/2015 |
- |
- |
8650000.0 |
130, PANDURANG BUDHKAR MARG,WORLIMUMBAIMH400018IN |
|
3 |
C57452161 |
10576904 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
09/06/2015 |
- |
- |
15500000.0 |
130, PANDURANG BUDHKAR MARG,WORLIMUMBAIMH400018IN |
|
4 |
C29579265 |
10526180 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
30/09/2014 |
- |
- |
8613104.0 |
130, PANDURANG BUDHKAR MARG,WORLIMUMBAIMH400018IN |
|
5 |
C66457219 |
10513112 |
CANARA BANK |
30/06/2014 |
16/09/2015 |
- |
223700000.0 |
CTS NO. 829-833, SHIRAHATTI BUILDING, RPD CROSSKHANAPUR ROAD, TILAKWADIBELGAUMKA590006IN |
|
6 |
C45000221 |
10495270 |
STATE BANK OF INDIA |
06/05/2014 |
- |
27/02/2015 |
170000000.0 |
SME BRANCH, HALAGEKAR BHAVANGOAVES, HINDAWADIBELGAUMKA590011IN |
|
7 |
C38342069 |
10495281 |
DECKEL MAHO PFRONTEN GMBH |
14/03/2014 |
- |
15/12/2014 |
75597440.0 |
DECKEL MAHO-STR 1,87459PFRONTENNA87459DE |
|
8 |
C09812041 |
10007012 |
STATE BANK OF INDIA |
06/06/2006 |
22/07/2013 |
09/06/2014 |
200000000.0 |
INDUSTRIAL FINANCE BRANCHRESIDENCY PLAZA, RESIDENCY ROADBANGALOREKA560025IN |
|
9 |
C04854832 |
10277883 |
THE FEDERAL BANK LTD. |
25/03/2011 |
- |
21/05/2014 |
950000.0 |
14, SUN FLOWER APPTS.,3RD GATE, KHANAPUR ROAD, TILAKWADIBELGAUMKA590006IN |
|
10 |
B94908324 |
10469369 |
DMG ASIA PTE LIMITED |
13/05/2010 |
- |
15/01/2014 |
15481385.0 |
NO 3TUAS LINK 1SINGAPORENA638584SG |
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NKT |
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.