MIRA INFORM REPORT
|
Report
Date : |
04.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
PHOTOKINA
CHEMICALS PRIVATE LIMITED |
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Formerly
Known As : |
CHROMALINE SCREEN PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
7 – 8, Sneha Samadhan, 1st Floor, Sahar Road,
Near Andheri Station, Andheri (East), Mumbai - 400069, Maharashtra |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
15.07.1997 |
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Com.
Reg. No.: |
11-109433 |
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CIN
No.: [Company
Identification No.] |
U24110MH1997PTC109433 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
MUMC06633E |
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Legal
Form : |
Private limited liability company |
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Line
of Business : |
Manufacturers, Refiners, Processors, Formulators,
Exporters, Importers, Commission Agents, Tradesmen and Dealers in Chemicals
and Allied Products reawired by the printing industry of all types including
basic chemicals, fine chemicals, rubber chemicals, agro chemicals,
bio-chemicals, pesticides, insecticides, herbicides, Fungicides, Photographic
and industrial chemicals, acids, dyes, dyes intermediates, dyestuffs,
colours, paints, pigments, varnishes, etc Subject is also engaged in manufacturing, trading and
distributing of Screen Printing Chemicals, Accessories, etc. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD 50000 |
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Status
: |
Satisfactory
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Payment
Behaviour : |
Usually
correct |
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Litigation
: |
Clear |
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Comments
: |
Subject is a well established company having satisfactory
track records. Trade relations are
fair. General financial position is
satisfactory. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
7 - 8, Sneha Samadhan, 1st Floor, Sahar Road,
Near Andheri Station, Andheri (East), Mumbai-400069, Maharashtra, India |
|
Tel.
No.: |
91-22-26834646 / 4488 |
|
Cell
No : |
91-9820082146 |
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Fax
No.: |
91-22-26833990 |
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E-Mail
: |
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Website
: |
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Area : |
Owned - 1200
sq.ft. |
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|
|
|
Factory
: |
·
Spam
Industrial Estate Complex, ‘C’ Building, Survey No. 223, 1st
Floor, Near R. T. O. Checkpost, Vapi-Silvassa Road, Union Territory of Dadar
and Nagar Haveli - 396231 Tel. 91-260-2648771/669 Fax. 91-260-2648771 ·
L -
2660, GIDC Area, Vapi, Gujarat Tel. 91-260-5542 |
|
Area : |
5000 sq. ft. -- Owned |
DIRECTORS
|
Name : |
Mr. Jagdish Motilal Sheth |
|
Designation
: |
Managing Director |
|
Address
: |
402, Meghana Apartment, Sant Hargovindas
Sanitorium Lane, Andheri (East), Mumbai-400069, Maharashtra, India |
|
Date
of Birth/Age : |
6th September, 1957 |
|
Qualification
: |
DMTC/MBA |
|
Date
of Appointment : |
15.07.1997 |
|
|
|
|
Name : |
Mrs.
Divya Jagdish Sheth |
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Designation
: |
Director |
|
Address
: |
402, Meghana Apartment, Sant Hargovindas
Sanitorium Lane, Andheri (East), Mumbai-400069, Maharashtra, India |
|
Date
of Birth/Age : |
19th April, 1960 |
|
Qualification
: |
B. Com. |
|
Date
of Appointment : |
15.07.1997 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr.
Jagdish M. Sheth |
235020 |
|
Mrs.
Divya Jagdish Sheth |
20 |
|
Mr. Kiran
Motilal Sheth |
22600 |
|
Ms.
Darshana Kiran Sheth |
20550 |
|
Ms.
Jayalaxmi Motilal Sheth |
62600 |
|
TOTAL |
340790 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturers, Refiners, Processors, Formulators,
Exporters, Importers, Commission Agents, Tradesmen and Dealers in Chemicals
and Allied Products rewired by the printing industry of all types including
basic chemicals, fine chemicals, rubber chemicals, agro chemicals,
bio-chemicals, pesticides, insecticides, herbicides, Fungicides, Photographic
and industrial chemicals, acids, dyes, dyes intermediates, dyestuffs,
colours, paints, pigments, varnishes, etc Subject is also engaged in manufacturing, trading and
distributing of Screen Printing Chemicals, Accessories, etc. |
|
|
|
|
Products
: |
Screen
Preparation Chemicals :
Chroma/Strip™ Screen Reclaimer Doesn't
settle, no mixing required Works
fast Chroma/Strip™ Concentrate Doesn't
settle, mix with 2 parts water High
concentration of active ingredients Chroma/Clean™ Mesh Degreaser Lathers
quickly, works fast Helps
reduce pinholes and fisheyes Chroma/Brade™ Mesh
Abrader/Degreaser Gel
formula abrades evenly Safer
than powders Chroma/Wet™ Wetting Agent Enhances
capillary film adhesion Holds
water in mesh for uniform application Chroma/Set™ Emulsion Hardener Fights
humidity, extends stencil life Short
cure time, fast & effective Chroma/Haze™ Haze Remover Removes
haze and ghost images very low
odor; does not seperate Chroma/Fill™ Red Screen Blockout Coats
smoothly, dries fast For use with solvent-based, UV and plastsol inks |
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|
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Brand
Names : |
“Shebro” and “Chromastar”. |
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|
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Agencies
Held : |
·
The
Chromaline Corporation, USA ·
Unirich
Trading Pte. Ltd., Singapore ·
N.
B. C. Limited, Tokyo, Japan ·
Pleiger
Plastic Corporation, Germany |
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Exports
to : |
UAE |
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Imports
from : |
USA |
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Terms
: |
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Selling : |
Credit (60 to 90 days) terms |
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Purchasing : |
Cash or Credit (30 days) terms |
GENERAL INFORMATION
|
Suppliers
: |
Anjali
Poly Plast Venus
International The
Chromalive Corporation Inc. Nikhil
Adhesives Limited BTP India
Limited |
|
|
|
|
Customers
: |
Hindustan
Aeronautics Limited J. N.
Arora Company Private Limited Rishi
Enter Texo
Colour Mono
Screen |
|
|
|
|
No. of
Employees : |
33 Group – 62 |
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|
|
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Bankers
: |
The
Lakshmi Vilas Bank Limited Andheri (East), Andheri, Mumbai – 400 069, Maharashtra,
India State Bank of India Industrial Finance
Branch, Snehal Chambers, Andheri
[East], Mumbai – 400069, Maharashtra, India ICICI Bank Andheri [West],
Mumbai, Maharashtra, India |
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|
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Banking Relations : |
Unknown |
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Auditors
: |
S. Bohra
and Company Chartered
Accountant 1st
Floor, Dave Building, S. V. Road, Goregaon (West), Mumbai – 400 062,
Maharashtra, India |
|
Tel.
No.: |
91-22-28721620 |
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|
|
|
Sister
Concern : |
Photokina,
Vapi - Mr. Jagdish M. Sheth [Proprietor] |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
500000 |
Equity
Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
340790 |
Equity
Shares |
Rs. 10/- each |
Rs. 3.407 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
|
3.407 |
3.407 |
|
|
3] Reserves
& Surplus |
|
9.506 |
8.408 |
|
|
4]
(Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
12.913 |
11.815 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
|
15.616 |
5.073 |
|
|
2]
Unsecured Loans |
|
18.856 |
12.401 |
|
TOTAL
BORROWING
|
|
34.472 |
17.474 |
|
|
DEFERRED
TAX LIABILITIES |
|
0.435 |
[0.423] |
|
|
|
|
|
|
|
TOTAL
|
|
47.820 |
28.866 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
6.748 |
7.258 |
|
Capital work-in-progress
|
|
0.808 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
|
0.085 |
0.050 |
|
DEFERREX TAX ASSETS
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
17.000 |
12.672 |
|
|
Sundry Debtors
|
|
17.863 |
7.181 |
|
|
Cash & Bank Balances
|
|
7.015 |
10.369 |
|
|
Loans & Advances
|
|
9.794 |
2.690 |
Total Current Assets
|
|
51.672 |
32.912 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
10.657 |
9.887 |
|
|
Provisions
|
|
0.844 |
1.479 |
Total Current Liabilities
|
|
11.501 |
11.366 |
|
Net
Current Assets
|
|
40.171 |
21.546 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
0.008 |
0.012 |
|
|
|
|
|
|
|
TOTAL
|
|
47.820 |
28.866 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
Sales Turnover [including other income]
|
|
70.977 |
61.958 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
2.800 |
5.999 |
Provision for Taxation
|
|
1.703 |
1.534 |
Profit/(Loss) After Tax
|
|
1.097 |
4.465 |
|
|
|
|
|
Total Expenditure
|
|
67.010 |
55.163 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
|
1.54 |
7.20 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
3.94 |
9.68 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
4.79 |
14.93 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.21 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
3.56 |
2.44 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
4.49 |
2.89 |
LOCAL AGENCY FURTHER INFORMATION
Registered office of the company changed from Kanta Kunj,
72, Telly Galli, P. B. No. 8753, Andheri (East), Mumbai-400069 to the present
address from 1st March, 2003
Subject is
manufacturer of Screen Auxiliaries.
It exports
screen printing chemicals.
It imports screen printing products.
Branch office
of area admeasuring 1850 sq.ft. is also owned.
OPERATION AND OUTLOOK :
During the year, the company has started trading activity
also along with the manufacturing activity for which a suitable premises has
been acquired at Vapi [Gujarat State].
The company’s has made a turnover of Rs. 70.823 millions [Net of Excise
duty] compared to Rs. 61.814 millions [Net of Excise duty] in the corresponding
period of the earlier year. The turnover has thus increased by 14.56% compared
to earlier year. The directors are
quite hopeful that the turnover in the year 2006-07 will be very much higher as
the turnover of trading division will be for the full year. The company’s net profit has decreased
considerably from Rs. 6.795 millions [before depreciation & preliminary
expenses written off] to Rs. 3.967 millions.
The sharp decrease has been due to higher discount allowed to customers
in the face of stiff market competition and to keep the company’s market share
of trade intact. The directors wish to
bring to the kind notice that during the current year, the net profit will be
considerably higher due to increase in turnover and also the market conditions
have improved considerably.
|
Name of the company |
PHOTOKINA CHEMICALS PRIVATE LIMITED |
|
Presented By |
State Bank of India, Industrial
Finance Branch, Andheri [East], Mumbai – 400069 |
|
1) Date and description of instrument
creating the change |
Agreement of Loan – cum –
Hypothecation dt. 20.09.2005 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs. 25.000 millions Fund
Based : Demand Cash Credit : Rs. 15.000
millions CNRB Demand Loan : Rs. 5.000 millions [within DCC Non
Fund Based : Letter of Credit : Rs. 10.000 millions Letter of Credit [Fully Flexible with DC] : Rs. [10.000] millions ------------------------------ Total
: Rs. 25.000 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 |
All present and future stocks, raw
materials, goods, bookdebts, and vehicles and all other movable assets of the
borrower [s] including receivables, documents of title to goods, outstanding
monies, bills, invoices documents, contracts, insurance policies, guarantees,
engagements, securities, investments and rights and the present and future
machinery belonging to or in the possession or control of the borrower [s]
wherever lying, stored and kept and whether in possession of the borrower [s]
or of the bank or of any third party whether in India or elsewhere including
all such goods, vehicles, other movable assets as may be in the course of
shipment, transit or delivery and all the machinery, vehicles, and other
equipment items of whatever nature acquired by the borrowers. Raw materials –
chemicals, film, squeeze etc. semi finished good – chemical, film, squeeze
etc. finished goods – chemicals stores and spares & packing material,
receivables. |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
R.O.I. : Demand Cash Credit : 10.25%
p.a. |
|
5) Name and Address and description
of the person entitled to the charge. |
State Bank of India Industrial Finance Branch, Snehal
Chambers, Andheri [East], Mumbai –
400069 |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
|
Name of the company |
PHOTOKINA CHEMICALS PRIVATE LIMITED |
|
Presented By |
State Bank of India, Industrial
Finance Branch, Andheri [East], Mumbai – 400069 |
|
1) Date and description of instrument
creating the change |
Agreement of Loan – cum –
Hypothecation dt. 20.09.2005 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs. 25.000 millions Fund
Based : Demand Cash Credit : Rs. 15.000
millions CNRB Demand Loan : Rs. 5.000 millions [within DCC Non
Fund Based : Letter of Credit : Rs. 10.000 millions Letter of Credit [Fully Flexible with DC] : Rs. [10.000] millions ------------------------------ Total : Rs.
25.000 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 |
All present and future stocks, raw
materials, goods, bookdebts, and vehicles and all other movable assets of the
borrower [s] including receivables, documents of title to goods, outstanding
monies, bills, invoices documents, contracts, insurance policies, guarantees,
engagements, securities, investments and rights and the present and future
machinery belonging to or in the possession or control of the borrower [s]
wherever lying, stored and kept and whether in possession of the borrower [s]
or of the bank or of any third party whether in India or elsewhere including
all such goods, vehicles, other movable assets as may be in the course of
shipment, transit or delivery and all the machinery, vehicles, and other
equipment items of whatever nature acquired by the borrowers. Raw materials –
chemicals, film, squeeze etc. semi finished good – chemical, film, squeeze
etc. finished goods – chemicals stores and spares & packing material,
receivables. |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
R.O.I. : Demand Cash Credit : 10.25%
p.a. |
|
5) Name and Address and description
of the person entitled to the charge. |
State Bank of India Industrial Finance Branch, Snehal
Chambers, Andheri [East], Mumbai –
400069 |
|
6) Date and brief description of instrument modifying the charge |
No Instrument. Memorandum for
Recording creation of mortgage by Deposit of Title deeds dt. 20.09.2005 |
|
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. |
The original charge was created on
20.09.2005 for Rs. 25.000 millions. Now by the present modification dt.
20.09.2005 the company offered an additional collateral security by way of an
equitable mortgage by deposit of title deeds over the immovable properties to
secure the credit facilities of Rs. 25.000 millions plus interest enhanced
interest, fees, commission, charges, costs and expenses including the legal
costs. The details of the immovable properties hereinabove referred to under
schedule – A are as follows : Unit No. 5, ‘Span Industrial Complex’ Unit No. 5 admeasuring about 1450 sq.
feet equivalent to 134.70 sq. meters built up on the first floor of the said
building in Span Industrial Complex, ‘C’ Building, Near R.T.O.
checkpost. Vapi Silvassa Road, Union
Territory of Dadra & Nagar Haveli – 396231, standing on the portion of
land admeasuring 450.00 sq. meters lying and being an Village Dadra in the
Registration Sub-District Silvassa, in Union Territory of Dadra Nagar Haveli
and bearing Survey No. 223[P] being portion of larger piece of land
admeasuring about 10640.00 sq. meters. Unit No. 6, ‘Span Industrial Complex’ Unit No. 6, admeasuring about 1330
sq. feet equivalent to 123.55 sq. meters built up on the first floor of the
said building in Span Industrial Complex, ‘C’ Building Near R.T.O. Checkpost,
Vapi – Silvassa Road, Union Territory of Dadra & Nagar Haveli – 396231,
standing on the portion of land admeasuring 450.00 sq. meters lying and being
at Village Dadra in the Registration Sub-District Silvassa, in Union
Territory of Dadra Nagar Haveli and bearing Survey No. 223 [P] being portion
of larger piece of land admeasuring about 10640.00 sq. meters Unit No. 7, ‘Span Industrial Complex’ Unit No. 7 admeasuring 1140 sq. feet
equivalent to 105.90 sq. meters built up on the first floor of the said
building in Span Industrial Complex, ‘C’ Buildign Near R.T.O. Checkpost, Vapi
– Silvassa Road, Union Territory of Dadra & Nagar Haveli – 396231, standing
on the portion of land admeasuring 450.00 sq. meters lying and being at
Village Dadra in the Registration Sub – District Silvassa, in Union Territory
of Dadra Nagar Haveli and bearing Survey No. 223 [P] being portion of larger
piece of land admeasuring about 10640.00 sq. meters Unit No. 8, ‘Span Industrial Complex’ Unit No. 8 admeasuring 1160 sq. feet
equivalent to 107.75 sq. meters built up on the first floor of the said
building in Span Industrial Complex, ‘C’ Buildign Near R.T.O. Checkpost, Vapi
– Silvassa Road, Union Territory of Dadra & Nagar Haveli – 396231,
standing on the portion of land admeasuring 450.00 sq. meters lying and being
at Village Dadra in the Registration Sub – District Silvassa, in Union
Territory of Dadra Nagar Haveli and bearing Survey No. 223 [P] being portion
of larger piece of land admeasuring about 10640.00 sq. meters |
WEBSITE DETAILS
The
world of screen printing :
Manufacturing
Distribution
Re-packing
Imports
Upgradation
Corporate
Presence
Customer
Education
Distribution
The
Chromiline Corporation, USA Emulsion
Chemicals
Various
types of Films for Screen Printing
RhinoTech, Inc, USA Frame
Adhesives & Chemicals
Watts Urethane Products Ltd., U.K. Polyurethane Machine Squeegees
Marabu
werke GmbH & Co. KG, Germany Solvent
UV
Screen Printing Inks
NBC Inc, Japan Nylon
& Polyester Screen Printing Fabrics
Dishti Industries, Pune Nylon
& Polyester Screen Printing Fabrics
ABOUT US
Photokina Chemicals Private Limited was founded in 1985 by
the managing director Mr. Jagdish Sheth, with 2 decades of experience,
Photokina is a perfect blend of manufacturing and distribution capabilities for
the screen printing industry.
Photokina has the capabilities to import in bulk quantities, financial
provisions for expansion, 450 dealers network, 125 OEM companies, nationwide
presence, custom package conversion systems, allied manufacturing to sustain
customers, technical education seminar programs, user friendly product
promotions and corporate presence in major exhibitions.
VISION
Their
vision is to become the most quality conscious, competitive and fastest service
provider in the screen printing industry.
Financials of Sister
Concern – PHOTOKINA
ABRIDGED
BALANCE SHEET
[all
figures are in Rupees Millions]
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1]
Proprietor’s Capital |
|
|
2.781 |
|
|
3]
Reserves & Surplus |
|
|
0.000 |
|
|
4]
(Accumulated Losses) |
|
|
0.000 |
|
NETWORTH
|
|
|
2.781 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
|
|
0.028 |
|
|
2]
Unsecured Loans |
|
|
0.000 |
|
TOTAL
BORROWING
|
|
|
0.028 |
|
|
DEFERRED
TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
|
2.809 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
|
0.031 |
|
Capital work-in-progress
|
|
|
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
|
|
0.005 |
|
DEFERREX TAX ASSETS
|
|
|
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
|
0.000 |
|
|
Sundry Debtors
|
|
|
5.437 |
|
|
Cash & Bank Balances
|
|
|
2.165 |
|
|
Loans & Advances
|
|
|
1.052 |
Total Current Assets
|
|
|
8.654 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
|
5.138 |
|
|
Provisions
|
|
|
0.743 |
Total Current Liabilities
|
|
|
5.881 |
|
Net
Current Assets
|
|
|
2.773 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
|
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
|
2.809 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
Sales Turnover [including other income]
|
|
|
33.210 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
|
2.175 |
|
|
|
|
|
Total Expenditure
|
|
|
31.035 |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 |
PAT / Total Income
|
(%)
|
|
|
6.54 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
|
6.54 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
|
25.04 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
|
0.78 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
|
1.00 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
|
1.47 |
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.44.84 |
|
UK Pound |
1 |
Rs.85.55 |
|
Euro |
1 |
Rs.57.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--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 |
|
46 |
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 |
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 |