|
|
|
MIRA INFORM REPORT
|
Report No. : |
511578 |
|
Report Date : |
28.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
VARUN RADIATORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.1106, Phase 2, G.I.D.C. Estate, Chhatral, Taluka Kalol,
Mehsana -382729, Gujarat |
|
Tel. No.: |
91-79-26587802 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
29.04.1986 |
|
|
|
|
Com. Reg. No.: |
04-008648 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 6.271 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ1986PTC008648 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV7073K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of radiators and its parts of cast iron. (Registered
activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1986. It is a manufacturer of
radiators and its parts of cast iron. As per the financial records of 2017, the company has achieved a decent
growth in its revenue as compared to the previous year and has reported an
average profitability margin of 1.68%. The satisfactory financial position of the company is marked by adequate
net worth base along with average debt balance sheet profile. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 28.05.2018
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 BY
|
Name : |
Mr. Jayesh Amin |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-9879030402 |
|
Date : |
27.05.2018 |
Tel. No.:91-2764-233348 – Continuously ringing
Tel. No.: 91-79-26587802 – Given number – Not Working
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No.1106, Phase 2, G.I.D.C. Estate, Chhatral, Taluka Kalol,
Mehsana -382729, Gujarat, India |
|
Tel. No.: |
91-79-26587802 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Plot No. 1507, 1514, 1515, Phase 2, G.I.D.C., Chhatral, Taluka Kalol,
Gandhinagar-382729, Gujarat, India |
|
Tel. No.: |
91-2764-233348 / 56 / 59 |
|
Fax No.: |
91-2764-233348 |
|
Email: |
DIRECTORS
As on 2018
|
Name : |
Mr. Manish Hasmukhrai Patel |
|
Designation : |
Director |
|
Address : |
12, Uganda Society, Memnagar, Ahmedabad- 380052, Gujarat, India |
|
Date of Birth/Age : |
16.09.1963 |
|
Date of Appointment : |
12.02.1987 |
|
PAN No.: |
AKOPP8115D |
|
DIN No.: |
01807334 |
|
|
|
|
Name : |
Mr. Nilesh Hasmukhbhai Patel |
|
Designation : |
Director |
|
Address : |
12, Uganda Park Society, Opposite Sarthi Row House, Memnagar,
Ahmedabad- 380052, Gujarat, India |
|
Date of Birth/Age : |
10.09.1967 |
|
Date of Appointment : |
01.04.1989 |
|
PAN No.: |
AETPP6003M |
|
DIN No.: |
01848948 |
|
|
|
|
Name : |
Mr. Utkarsh Manish Patel |
|
Designation : |
Director |
|
Address : |
12, Uganda Park Society, Opposite Sarthi Row House, Memnagar,
Ahmedabad- 380052, Gujarat, India |
|
Date of Appointment : |
14.03.2017 |
|
DIN No.: |
06988554 |
KEY EXECUTIVES
|
Name : |
Mr. Jayesh Amin |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Harmukhbhai Patel |
|
1233 |
|
Hasmukhbhai Patel HUF |
|
247 |
|
Madhuben Patel |
|
4372 |
|
Manish Patel |
|
11487 |
|
Nilesh Patel |
|
11308 |
|
Priti Patel |
|
12428 |
|
Mina Patel |
|
11904 |
|
Mita Parekh |
|
3181 |
|
Utkarsh Patel |
|
380 |
|
Parth Bhatt |
|
20 |
|
Vinoo Parekh |
|
1200 |
|
Narendra Patel |
|
3200 |
|
Kalp Patel |
|
450 |
|
Kaniskh Shah |
|
400 |
|
Sumanyu Patel |
|
900 |
|
Total |
|
62710 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2015
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided Family
– Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of radiators and its parts of cast iron. (Registered
activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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|
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|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
A. L. Thakkar and Company Chartered Accountants |
|
Address : |
Kashmira Chamber, Behind Old High Court, Navrangpura,
Ahmedabad-380009, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFA6141D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65000 |
Equity Shares |
INR 100/- each |
INR 6.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
62710 |
Equity Shares |
INR 100/- each |
INR 6.271
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
6.271 |
6.271 |
6.271 |
|
(b) Reserves & Surplus |
33.324 |
29.508 |
27.690 |
|
(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) |
39.595 |
35.779 |
33.961 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
47.677 |
50.837 |
26.840 |
|
(b) Deferred tax liabilities
(Net) |
5.610 |
6.364 |
5.485 |
|
(c) Other long term
liabilities |
2.947 |
4.147 |
3.128 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
56.234 |
61.348 |
35.453 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
46.250 |
19.372 |
20.242 |
|
(b) Trade payables |
41.937 |
31.419 |
38.486 |
|
(c) Other current liabilities |
3.240 |
6.258 |
5.953 |
|
(d) Short-term provisions |
1.554 |
0.347 |
1.545 |
|
Total
Current Liabilities (4) |
92.981 |
57.396 |
66.226 |
|
|
|
|
|
|
TOTAL |
188.810 |
154.523 |
135.640 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
37.383 |
39.472 |
42.634 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
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 |
4.433 |
5.279 |
5.227 |
|
Total
Non-Current Assets |
41.816 |
44.751 |
47.861 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
113.166 |
70.165 |
61.213 |
|
(c) Trade receivables |
24.623 |
28.272 |
25.120 |
|
(d) Cash and cash equivalents |
6.966 |
8.190 |
0.681 |
|
(e) Short-term loans and
advances |
2.239 |
3.145 |
0.765 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
146.994 |
109.772 |
87.779 |
|
|
|
|
|
|
TOTAL |
188.810 |
154.523 |
135.640 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
227.269 |
142.351 |
135.229 |
|
|
Other Income |
1.807 |
3.042 |
1.536 |
|
|
TOTAL
|
229.076 |
145.393 |
136.765 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
232.866 |
118.861 |
111.934 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in finished goods |
27.237 |
-2.550 |
-0.794 |
|
|
Changes in work-in-progress
and Stock-in-Trade |
-68.130 |
0.000 |
0.000 |
|
|
Employees benefits expense |
8.001 |
6.630 |
6.417 |
|
|
Other expenses |
12.725 |
10.151 |
7.518 |
|
|
TOTAL |
212.699 |
133.092 |
125.075 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
16.377 |
12.301 |
11.690 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.628 |
5.351 |
4.834 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.749 |
6.950 |
6.856 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.841 |
3.169 |
3.373 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3.908 |
3.781 |
3.483 |
|
|
|
|
|
|
|
Less |
TAX |
0.092 |
1.963 |
1.811 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3.816 |
1.818 |
1.672 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.353 |
4.535 |
2.863 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
10.169 |
6.353 |
4.535 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
60.85 |
29.00 |
72.32 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
39.55 |
72.49 |
67.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
9.23 |
5.04 |
5.38 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
65.73 |
96.48 |
125.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.14 |
0.18 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.44 |
0.31 |
0.27 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.74 |
0.70 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.37 |
1.96 |
1.39 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.35 |
1.60 |
1.95 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.94 |
1.10 |
1.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.70 |
2.30 |
2.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.68 |
1.28 |
1.24 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.02 |
1.18 |
1.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.64 |
5.08 |
4.92 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.58 |
1.91 |
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.36 |
0.69 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.21 |
0.23 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
14.98 |
11.20 |
7.51 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.58 |
1.91 |
1.33 |
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 |
6.271 |
6.271 |
6.271 |
|
Reserves & Surplus |
27.690 |
29.508 |
33.324 |
|
Net
worth |
33.961 |
35.779 |
39.595 |
|
|
|
|
|
|
Long Term borrowings |
26.840 |
50.837 |
47.677 |
|
Short Term borrowings |
20.242 |
19.372 |
46.250 |
|
Total
borrowings |
47.082 |
70.209 |
93.927 |
|
Debt/Equity
ratio |
1.386 |
1.962 |
2.372 |
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
|
135.229 |
142.351 |
227.269 |
|
|
|
5.267 |
59.654 |
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
|
135.229 |
142.351 |
227.269 |
|
Profit |
1.672 |
1.818 |
3.816 |
|
|
1.24% |
1.28% |
1.68% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loan received
from friends and relatives: |
|
|
|
From Directors |
0.116 |
0.185 |
|
From Friends and relatives |
14.190 |
14.553 |
|
From Companies |
0.103 |
0.103 |
|
Total |
14.409 |
14.841 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G39383211 |
100085976 |
SARVODAYA COMMERCIAL CO-OP BANK LTD. |
10/03/2017 |
- |
- |
10000000.0 |
D/E GROUND FLOOR DHANLAXMI CHAMBERSNR GUJARAT VIDYAPITH INCOME TAX ASHRAM ROADAHMEDABADGJ380014IN |
|
2 |
G39383930 |
100085978 |
SARVODAYA COMMERCIAL CO-OP BANK LTD. |
04/03/2017 |
- |
- |
10000000.0 |
D/E GROUND FLOOR DHANLAXMI CHAMBERSNR GUJARAT VIDYAPITH INCOME TAX ASHRAM ROADAHMEDABADGJ380014IN |
|
3 |
G78875937 |
100041526 |
SARVODAYA COMMERCIAL CO-OP BANK LTD. |
12/07/2016 |
01/03/2018 |
- |
62400000.0 |
D/E GRDOUN FLOOR DHANLAXMI CHAMBERSNR GUJARAT VIDHYAPITH INCOME TAX ASHRAM ROADAHMEDABADGJ380014IN |
|
4 |
G78876414 |
100041527 |
SARVODAYA COMMERCIAL CO-OP BANK LTD. |
08/07/2016 |
28/02/2018 |
- |
62400000.0 |
D/E GRDOUN FLOOR DHANLAXMI CHAMBERSNR GUJARAT VIDHYAPITH INCOME TAX ASHRAM ROADAHMEDABADGJ380014IN |
|
5 |
C82246661 |
10627380 |
SARVODAYA COMMERCIAL CO-OP BANK LTD. |
29/02/2016 |
- |
- |
35000000.0 |
GF/1, VRAJ PLAZA, OPP. HONEST RESTURANT,BHATTA, ANJALI CHAR RASTA, PALDI,AHMEDABADGJ380007IN |
|
6 |
G35993583 |
10384317 |
INTEC CAPITAL LIMITED |
16/10/2012 |
- |
07/02/2017 |
1617610.0 |
701,MANJUSHA57 NEHRU PLACENEW DELHIDL110019IN |
|
7 |
G08900474 |
10104512 |
STATE BANK OF INDIA |
26/12/2007 |
30/03/2009 |
15/07/2016 |
54000000.0 |
KADI BRANCHPATEL BHUVANKADIGJ382715IN |
|
8 |
G08899759 |
10104514 |
STATE BANK OF INDIA |
06/05/2008 |
30/03/2009 |
15/07/2016 |
54000000.0 |
KADI BRANCHPATEL BHUVANKADIGJ382715IN |
|
9 |
C77541464 |
10332544 |
INTEC CAPITAL LIMITED |
23/01/2012 |
- |
28/01/2016 |
8400000.0 |
701,MANJUSHA57 NEHRU PLACENEW DELHIDL110019IN |
FIXED ASSETS
- Land
- 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 68.26 |
|
|
1 |
INR 91.21 |
|
Euro |
1 |
INR 79.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
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.