MIRA INFORM REPORT
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Report Date : |
03.11.2006 |
IDENTIFICATION DETAILS
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Name : |
ALCHEM
INTERNATIONAL LIMITED |
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Registered Office : |
201, Empire Plaza,
Mehrauli-Gurgaon Road, Sultanpur, New Delhi - 110 030, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
03.04.1982 |
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Com. Reg. No.: |
55-13415 |
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CIN No.: [Company Identification No.] |
L74899DL1982PLC013415 |
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TAN No.: [Tax Deduction & Collection Account No.] |
DELA03276A |
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PAN No.: [Permanent Account No.] |
AAACA2251L |
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Legal Form : |
Closely
Held Public Limited Liability Company. |
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Line of Business : |
Manufacturing and Marketing
of Pharmaceuticals, Medical Chemicals, Botanical Products, Bulk Drugs and
Drug Intermediates Extracts. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses
adequate working capital. No caution needed for credit transaction. It has
above average (strong) capability for payment of interest and principal sums |
Large |
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Maximum Credit Limit : |
USD 1500000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well –
established and reputed company having fine track. Trade relations are fair.
Financial position is good. Payments are correct and as per commitments. The company can be
considered good for any normal business dealings at usual trade terms and
conditions. It can be regarded as a
promising business partner in a medium to long – run |
LOCATIONS
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Registered Office : |
201, Empire Plaza,
Mehrauli-Gurgaon Road, Sultanpur, New Delhi - 110 030, India |
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Tel. No.: |
91-11-26803500-4/2680420/31/26813501 |
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Fax No.: |
91-11-26802102/26801770/26802423 |
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E-Mail : |
1. alchem.intl@elnet.ems.vsnl.net.in
2. raman.mehta@elnet.ems.vsnl.net.in
3. alchem@giasdl01.vsnl.net.in
4. mail@alcheminternational.com |
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Website : |
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Cable : |
HEMOVIT |
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Area : |
2,700 sq.fts. |
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Premises : |
Owned |
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Head Office : |
201, Empire Plaza,
Mehrauli-Gurgaon Road, Sultanpur, New Delhi - 110 030,
India |
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Tel. No.: |
91-11-26803500/1/2/3/4 |
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Fax No.: |
91-11-26801770/26802102/26802423 |
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E-Mail : |
alchem.intl@elnet.ems.vsnl.net.in |
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Website : |
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Factory 1 : |
25/2, Main Mathura Road,
Village Kaili, Ballabgarh, Haryana – 121 004 |
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Tel. No.: |
91-129-25232356/25234008/25233335 |
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Fax No.: |
91-129-25230192 |
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Area : |
12
hectors |
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Premises : |
Owned |
DIRECTORS
|
Name |
Mr. Prabir Sen Gupta |
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Designation |
Managing Director |
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Date of Birth |
15.10.1957 |
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Date of Appointment |
21.06.1989 |
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Address |
House No. 3294, Sector 3,
Ballabgarh, Faridabad –121004, Haryana |
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Name |
Mr. Ramesh Kumar Mehta |
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Designation |
Director |
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Date of Birth |
20.06.1954 |
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Date of Appointment |
01.04.1992 |
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Address |
25/2, Mathura Road,
Faridabad – 121 003, Haryana |
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Name |
Mr. Mahendra Kumar Bali |
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Designation |
Director |
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Date of Birth |
18.09.1940 |
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Date of Appointment |
29.09.2001 |
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Address |
A-2, 240, Janakpuri, New
Delhi – 110 058 |
KEY EXECUTIVES
|
Name : |
Ajay
K. Goyal and Company |
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Designation : |
Company
Secretary |
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Address : |
313,
Vardhman Capital Mall, Gulabi Bagh, Delhi, India |
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Mobile No. : |
91-9810398621 |
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E-mail : |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr. Raman Mehta |
26,415 |
75.47% |
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Mrs. Nidhi Mehta |
3,260 |
9.32% |
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Mr. Bharat Mehta |
1,815 |
5.19% |
|
Ms. Neha Mehta |
1,750 |
5.00% |
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Mrs. Divya Mehta |
1,750 |
5.00% |
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Raman Mehta (HUF) |
5 |
0.01% |
|
Nidhi Mehta Family |
5 |
0.01% |
|
Total |
35,000 |
100.00% |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing
of Pharmaceuticals, Medical Chemicals, Botanical Products, Bulk Drugs and
Drug Intermediates Extracts. |
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Products : |
·
Natural
Pharmaceuticals & other Active Ingredients ·
Ayurvedic Extracts
& Health Food ·
Oleoresins ·
Standardized Extracts ·
Natural Cosmetics
Ingredients |
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Exports to : |
Japan, UK, USA, Hong Kong,
Brazil, Ukraine, Pakistan, Western Europe and Bangladesh. |
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Imports from : |
Australia,
Belgium, Germany, Europe and Singapore |
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Terms : |
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Selling : |
D/A,
Credit (90 to 120 days) or D/P |
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Purchasing : |
D/A
or Credit (90 to 120 days) |
PRODUCTION STATUS
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Particulars |
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Unit |
Actual Production |
|
Drugs, Drugs Intermediates,
Extracts and Alkaloids |
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Kgs. |
91931.210 |
GENERAL INFORMATION
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Customers : |
Ø
Kenya Pharma,
Indonesia Ø
Pharmacare Limited,
South Africa Ø
Slalter & Frith
Limited, United Kingdom Ø
Deg Import Company,
Brazil Ø
Actips International
Pearling Trading, Hong Kong |
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No. of Employees : |
Around
50 |
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Bankers : |
Ø
Citi Bank, New Delhi Ø
Chinatrust Commercial
Bank, 21-A, Janpath, New Delhi – 110 001 Ø
IDBI Bank Limited, Siri
Fort Branch, New Delhi Ø
Bank of Punjab
Limited, G.T. Road, Panipat, Haryana Ø
State Bank of India,
Overseas Branch, New Delhi – 110001 |
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Auditors : |
Jain Chopra & Company Chartered Accountants |
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Address : |
105, Jyoti Bhavan,
Commercial Complex, Mukherjee Nagar, New Delhi
110 009 Tel.
91-11-27652776/27652091 Fax.
91-11-27650155 E-Mail.:
jc_company@sify.com |
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Associates : |
Lepro Herbals Private
Limited G.
T. Road, Village Jhattipur, Panipat, Haryana Subsidiary Alchem
International (HK) Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35,000 |
Equity Shares |
Rs.100/- each |
Rs. 3.500 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.500 |
3.500 |
3.500 |
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3] Reserves & Surplus |
400.034 |
364.434 |
329.648 |
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NETWORTH
|
403.534 |
367.934 |
333.148 |
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LOAN FUNDS |
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1] Secured Loans |
294.951 |
266.773 |
223.260 |
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2] Unsecured Loans |
67.133 |
83.274 |
58.690 |
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TOTAL
BORROWING
|
362.084 |
350.047 |
281.950 |
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DEFERRED TAX LIABILITIES |
9.649 |
9.400 |
7.988 |
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TOTAL
|
775.267 |
727.381 |
623.086 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
263.168 |
243.330 |
174.096 |
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Capital work-in-progress
|
4.153 |
13.662 |
1.479 |
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Advance
against fixed assets |
14.881 |
13.717 |
17.491 |
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INVESTMENT
|
0.498 |
0.498 |
0.492 |
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CURRENT ASSETS, LOANS & ADVANCES
|
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Inventories
|
515.313 |
426.301 |
391.797 |
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Sundry Debtors
|
237.170 |
161.377 |
166.678 |
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Cash & Bank Balances
|
29.075 |
17.152 |
11.830 |
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Other Current Assets
|
0.000 |
0.000 |
0.000 |
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Loans & Advances
|
46.398 |
37.725 |
42.157 |
Total Current Assets
|
827.956 |
642.555 |
612.462 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
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|
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Current Liabilities
|
312.640 |
168.201 |
142.552 |
|
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Provisions
|
22.749 |
18.180 |
40.382 |
Total Current Liabilities
|
335.389
|
186.381
|
182.934
|
|
Net Current
Assets
|
492.567 |
456.174 |
429.528 |
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TOTAL
|
775.267 |
727.381 |
623.086 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
845.358 |
788.582 |
695.239 |
|
|
|
|
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Profit/(Loss) Before Tax
|
53.945 |
51.593 |
137.036 |
Provision for Taxation
|
17.948 |
16.412 |
37.524 |
Profit/(Loss) After Tax
|
35.997 |
35.181 |
99.512 |
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Export Value
|
510.743 |
612.834 |
NA |
|
|
|
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Import Value
|
251.516 |
170.278 |
NA |
|
|
|
|
|
Total Expenditure
|
791.411 |
655.554 |
495.184 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
4.25 |
4.46 |
14.31 |
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Net Profit Margin
(PBT/Sales) |
(%) |
6.38 |
6.59 |
19.71 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
4.94 |
5.65 |
17.00 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.13 |
0.14 |
0.41 |
|
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|
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|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
1.72 |
1.46 |
1.40 |
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|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
2.46 |
3.45 |
3.35 |
LOCAL AGENCY FURTHER INFORMATION
Business
:
Subject is engaged in
manufacturing of Drugs, Drugs Intermediate Extracts, Alkaloids, Natural
Pharmaceuticals, Oleoresins, Standardized Extracts, Ayurvedic Extracts, Health
Food and Natural Cosmetics Ingredients.
It is specializing in
alkaloids and standardized herbal extracts, manufactured as per GMP and the
final products are standardized by usage of the latest analytical techniques,
like HPCL, NMR, GLC etc.
Operation
The gross revenue earned
during the current year ended 31.03.2005 from export and domestic sales and
other income amounting to Rs. 845.358 Millions.
Net profit before
depreciation and tax is Rs. 109.646 Millions. The depreciation has been
provided on written down value method in accordance with the rates specified
under the schedule XIV of the companies Act 1956
Form 8 Particular for creation or modification of
charges
|
Corporation
identity number or foreign company registrations number of the company |
L74899DL1982PLC013415 |
|
Name
of the company |
ALCHEM
INTERNATIONAL LIMITED |
|
Address |
201, Empire Plaza,
Mehrauli-Gurgaon Road, Sultanpur, New Delhi - 110 030, India |
|
This
Form is for |
Modification
Charge |
|
Particular
of the charge holder |
State
Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New
Delhi – 110001 |
|
Amount
Secure by the charge |
Rs.
125.000 Millions |
|
Description
of the property charge whether it is a charge on |
Immovable,
Stock in trade, Book Debts and other |
|
Modification
charge Charge
identification number of the charge to be modified |
80000449 |
|
Date
of instrument modifying the charge |
21.07.2006 |
|
Particulars
of the present modification |
EM
of unit No. 201, 203, 205, 207, 209, 211, 213, 215 at 201 Empire Plaza, M G
Road, Sultanpur, New Delhi to secure WCF from Citibank – Rs. 80.000 Millions,
State Bank of India – Rs. 154.000 Millions, ABN Bank – Rs. 60.000 Millions |
|
Name
of the company |
ALCHEM INTERNATIONAL LIMITED |
|
Presented By |
Mr.
M K Bali |
|
1)
Date and description of instrument creating the change |
Agreement
of lan for overall limit dated 30.12.2003 Regd. On – 16.02.2004 Agreement
of hypothecation of goods and assets dated 30.12.2003 Letter
regarding the grant of individual limits within the overall limit dated
30.12.2003 |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
C.
C. – Rs. 50.000 Millions EPC/FBP
– Rs. 70.000 Millions Total
FBL – Rs. 120.000 Millions LC
(Domestic/Foreign) – Rs. 5.000 Millions (With
100% interchangeability between L/C and BG) Total
NFB – Rs. 5.000 Millions Grand
Total – Rs. 125.000 Millions |
|
3)
Short particular of the property charged. If the property acquired is subject
to charge, date of the acquired of the property should be given |
Primary
– CC (Hypothecation/EPC/FBP/LC : Hypothcation
of stocks and receivable including present and future both Collateral
Pari
Passu charge with other members banks, on fixed assets of the company
excluding those which are specifically charged to Citi Bank having residue
value of Rs. 1400.000 Millions as on 31.03.2003 In
addition, pari passu charge following immovable properties along with ABN
Amro Bank and Citibank 4,
Empire Estate, Mahrauli Gurgaon Road, New Delhi 502,
Empire Apartment, Maharauli Gurgaon Road, New Delhi Flat
No. 301, Avion Apartment, Mangalapuri Mahrauli, Guragaon Road, New Delhi Flat
No. 303, Avion Apartment, Mangalapuri Mahrauli, Guragaon Road, New Delhi 3,
Empire Estate, Maharauli Guragaon Road, New Delhi Factory
land and building, consisting of area of 29.70 acres located at NH – 2,
Ballabhgarh in the name of arpee corporation |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
EPC
(upto 180 days) – Interest as per RBI/SBI directive subject to change
regarding export finance Cash
Credit (Hypothecation) – Interest as applicable to SB – 2 rating presently
1.50% above SBAR minimum 12.00% applied at monthly rests Margin
– Drawings under EPC will be permitted to the maximum extent of LC or firm
export order subject to availability drawing power against stock held by the
company Margins
Inventors
shall be 25% Domestic
receivable shall be 25% Export
receivable shall be |
|
5)
Name and Address and description of the person entitled to the charge. |
State
Bank of India, Overseas Branch, New Delhi – 110001 |
|
6)
Date and brief description of
instrument modifying the charge |
Supplementary
agreement of lan for increased in the overall limit dated 02.05.2005 Supplementary
deed of grantee for increased in overall limit dated 02.05.2005 Letter
regarding the grant of individual limit with in the overall limit dated
02.05.2005 Letter
for NOC from ABN Bank bearing no. CA/05/1388 dated 24.09.2005 |
|
7)
Particulars of modifications specifying the terms and conditions or the
extent of operations of the charge in which modification is made and the
details of the modification. |
C.C.
– Existing – Rs. 50.000 Millions, Revised Limit – Rs. 50.000 Millions EOC/FBP
– Rs. 70.000 Millions, Revised Limit – Rs. 70.000 Millions SLC
- Rs. 0.000 Millions, Revised Limit – Rs. 24.000 Millions LC
- Rs. 5.000 Millions, Revised Limit – Rs. 5.000 Millions Total
NFB - Rs. 5.000 Millions, Revised Limit – Rs. 5.000 Millions Total
- Rs. 125.000 Millions, Revised Limit – Rs. 149.000 Millions Term
Loan - Rs. 40.000 Millions, Revised Limit – Rs. 40.000 Millions Primary
– CC (Hypothecation/EPC/FBP/LC Pari
Passu charge on current assets of the company including present and future Collateral
Pari
Passu charge with other members banks, on fixed assets of the company
excluding those which are specifically charged to Citi Bank |
Products
Natural Pharmaceuticals and Other Ingredients
v
Alpisarin U.S.S.R.P.
(Herpies)
v
Androgrpholide
v
Belladonna Total
Alkaloids
v
Berberine Hydrochloride
IP
v
Berberine Tannate JP
v
Camptothecin
v
Podophyllotoxin
v
Podophyllum Resin BP
v
Quinine Sulphate and HCL
v
Raubasine
v
Silymarine
v
Thiocolchicoside
v
Yohimbine HCL
v
Xanthotoxin
(Methoxsalen)
Oleoresins
v
Oleoresins Capsicum
v
Oleoresins Tuemeric
Standardized Extracts
v
Belladonna Leaf Extract
BP/NF
v
Boswellia Serrata
Extract
v
Capsicum Oleresin
v
Centella Asiatica
Extract
v
Creteva Extract
v
Curcumin
v
Green Tea Extract
v
Guggulipids
v
Horse Chestnut Extract
v
Kava Kava Extract
v
Lycopene Extract
v
Passiflora Extract
v
Piperine
v
Scopolia Extract
v
Saw Palmetto Extract
v
(Serenoa Repens)
v
St. John Wort Extract
v
Valerian Officinalis
Extract
v
Yohimbine Extract (1 to
8%)
Natural Cosmetics Ingredients
v
Alpisarin
v
Andrographolides
v
18 Beta Glycyrrhetinic
Acid
v
Boswellia Extract
v
Centella Asiatica
v
Forskohlin
v
Pygenum Extract
v
Tetra Hydro Curcumin
(THC)
Ayurvedic Extracts and Health Food
v
Ashwagandha Extract
v
Boswellia Serrata
Extract
v
Catechu Extract
v
Guggul Extract
v
Syngergized Extract
v
Tulsi Extract
v
Vasaka Extract
It is in trade terms with :-
Ø
Parling Trading Company,
Hongkong
Ø
K.L. & J.D. Hansen
Private Limited, Australia
Ø
Heinrich Ambrosius,
Germany
Ø
World Botincal, Belgium
Ø
Sarveshwar Udyog, Bhuj,
Gujarat
Ø
Durga Enterprises, Bhuj,
Gujarat
Profile :
Alchem
is the largest phytochemical plant in the country with an extraction capacity
of 8000 tonnes per annum and spread over 34 acres.
The
growth has been remarkable (four fold in five years)….the customer base spans
31 countries and covers over 200 customers.
Alchem
International Limited has the benefit of 60 years of three generations of rich
and dedicated family experience, who have down- the- years, imparted in-depth
and researched knowledge to the present incumbents who now the guide the
growing fortunes of the Company.
Product
quality is achieved through a constant interface with various controls which
are rigidly enforced and constantly monitored.
The
company ensures the implementation of good manufacturing practices (GMP)
Other
Group companies:
Ø
Lepro Herbal Private
Limited, for the manufacture of standardized extracts
Ø
Twin Multiflora ,for the
cultivation of medicinal plants and promote floriculture.
Ø
Alchem II, over a 20
acre spread a state of art factory in the pipeline to cater to its growing
customer requirements
For
half a century they are sourcing some of the most quality-critical and rare
medicinal plants. That experience enable to meet any requirement, sourcing raw
material with precisely the right active components and to extract product from
them to tight specification : after all 95% of alkaloids and extracts are exported
to Japan, Western Europe and USA.
The
large plant area helps, too, by permitting physical separation of extractor
units and ensuring product purity. A large range of extractors, from 2,000
litres to 15,000 litres mans can process small or large batches without delay.
The
company has over 50 years of experience behind it and has an extraction
capacity of more than 4000 tons of various herbs per year and welcomes
development of new products on an exclusive confidential basis from overseas
clients. The extraction capacity is divided into seven separate extraction
plants which are physically separated from each other by over 15 metres so that
product purity is maintained, while seven different products are being
processed.
The
company also has a 150 ton / per annum Pilot Plant where experimental trials
can be conducted on extraction and purification of different herbs for
exclusive use of collaborators.
As
testimony of the company’s strong quality control, over 95% of its production
was exported to U.S.A., Japan, Korea, and West Europe in the last 12 years.
Alchem
International Limited is exclusively dedicated to the manufacture of
phyto-chemicals for medicinal and cosmetic use. Technological capability and
prowess ensures extraction of an isolated active molecule from a biomass of
extract.
For end-to end need for bulk drugs, they would be a one-stop shop for
pharmaceutical ingredients, cosmetic, Nutraceutical, standardized and
synergized extracts.
Alchem's corporate endeavor has always been to know the product and build
manufacturing processes around it. These could be proprietary or customized.
It prides itself in product quality and continuous ongoing research R& D is
the company's committed focus and philosophy.
The growing needs of the market are assessed, calibrated and addressed through
continuous participation in trade shows.
The
Alchem facility expands over an area of 34 acres with 6 isolated plants having
a total extraction capacity of over 8000 tons per year.
Most
products have dedicated purification facilities and a class 100,000 room is
maintained for APIs.
These
facilities are GMP and cGMP certified and have been audited by internationally
reputed companies.
They
have a dedicated RandD for process development which is complemented by a pilot
plant that can process 600 kgs of biomass for scaling up production.
Production
facilities are supported with: latest machinery for extraction, purification,
Spray drying, jet-mailing and packing facilities for powder API's and
extracts
Full
electricity back up, Effluent treatment plant, air and water treatment units
are commissioned to ensure an eco-friendly environment
|
Active
Pharmaceuticals Alpisarin U.S.S.R.P
(Herpes) Artesunate Artemisinin Artemether 10-DAB (De-Acetyl–Baccatin) Glycyrrhizinate Ammonium
(MAG) Nicotine (USP) Piperine Quinine Sulphate Quinine HCL and DiHCL Nutracuticals Extracts Belladonna Leaf Extract
(BP/NF) Boswellia Serrat
Extract(65% and 95%) Capsicum Oleoresin Centella Asiatica Extract Coleus Forskohlin Extract
(10 to 100%) Curcumin (95%) Devil’s Claw Extract
(Harpagophytum) Echinacea Extract Garcinia Extract (50 to
65%) Ginger Extract Griffonia Extract (20%
5-HTP) Gymnema Sylvestre Extract Horse
Chestnut Extract Humulus Lupulus Extract Java Tea Extract
(Orthosiphon) Passiflora Extract Scopolia
Extract Senna Extract (BPC/NF) Solanesol (min95%)
(Intermediate CoQ Valerian Officinalis
Extract Yohimbe Extract (1 to 10%) Cosmetics Ingredients Alpisarin (Mangiferin) Andrographolides Apigenin 18 Beta Glycyrrhetinic Acid Boswellia Extract Cafestol Centella Asiatica Forskohlin Glabridin 20-60% Kahweol Pygeum Extract Resveratrol Tetra Hydro Curcumin (THC) Ayuervedic Extracts Diabetes Rheumatic(Arthritis Obesity(Weight management .Memory,Stress and Concentration |
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.93 |
|
UK
Pound |
1 |
Rs.85.69 |
|
Euro |
1 |
Rs.57.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP
CAPITAL |
1~10 |
8 |
|
OPERATING
SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT
LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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 and their relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses
an extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses
adequate working capital. No caution needed for credit transaction. It has
above average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial
& operational base are regarded healthy. General unfavourable factors
will not cause fatal effect. Satisfactory capability for payment of interest
and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse
factors are apparent. Repayment of interest and principal sums in default or
expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute
credit risk exists. Caution needed to be exercised |
Credit not recommended |
|
NR |
In
view of the lack of information, we have no basis upon which to recommend
credit dealings |
No Rating |
|