MIRA INFORM REPORT
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Report
Date : |
15.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
NAGARJUNA AGRICHEM LIMITED |
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Registered
Office : |
Plot No. 61, Nagarjuna Hills, Punjagutta, Hyderabad – 500
082, Andhra Pradesh |
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Country
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India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
11.11.1986 |
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Com.
Reg. No.: |
01-16607 |
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CIN
No.: [Company Identification No.] |
U24219AP1993PTC016607 |
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TAN
No.: [Tax Deduction & Collection Account No.] |
HYDN00523F |
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Legal
Form : |
Public
Limited Liability Company. The company’s shares are listed on the Stock Exchanges. |
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Line
of Business : |
Manufacturing and marketing of Pesticides Technical and
Formulations (i.e. Liquids & Wettables). |
RATING & COMMENTS
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MIRA’s
Rating : |
Ba |
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41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum
Credit Limit : |
USD
3000000 |
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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 company of Nagarjuna Group, a medium sized industrial house.
Available information indicates high financial responsibility of the company.
Trade relations are fair. Payments are usually correct and as per
commitments. It can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered
Office : |
Plot No. 61, Nagarjuna Hills, Punjagutta, Hyderabad – 500
082, Andhra Pradesh, India |
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Tel.
No.: |
91-40-2335
8217 / 2335 0235 |
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Fax
No.: |
91-40-2335
0234 |
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E-Mail
: |
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Website
: |
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Factory
1 : |
Plot No. 177, P.O. Allinagaram, Arinama Akkivalasa,
Etcherla Mandal, Srikakaulam – 532403, Andhra Pradesh, India |
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Factory
2 : |
N.H.5, Ravulapalem Mandal, Ethakota – 533238, East
Godwari, Andhra Pradesh, India |
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Factory
3 : |
Near Ganti Village, Gannavaram Road, Ravulapalme Mandal,
Ethakota – 533238, East Godwari, Andhra Pradesh, India |
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Factory
4 : |
Survey No. 1710&1711, Antireddyguda Road, Kottur
Mandal, Nandigaon – 509223, Mahaboobnagar, Andhra Pradesh, India |
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Factory
5 : |
Shadnagar, Nandigaon Village, Kothur Mandal, Mahaboobnagar,
Andhra Pradesh |
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Branches
: |
1st
Floor, Auto Plaza Road No. 3, Banjara Hills, Hyderabad – 500 034, Andhra
Pradesh, India |
DIRECTORS
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Name : |
Dr. Nitish K. Sen Gupta |
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Designation
: |
Chairman |
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Address
: |
135 Pocket, 40 Chitaranjan
Park, New Delhi – 110 019, India |
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Date
of Birth/Age : |
70 years |
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Name : |
Mr. Sukhendu Roy |
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Designation
: |
Director |
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Address
: |
6B Solanki Apartments, 8/2,
Alipore ParkRoad, Kolkata – 700027, West Bengal, India |
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Date
of Birth/Age : |
72 Years |
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Qualification
: |
Chartered Accountants |
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Name : |
Mr. Prashant Kumar Mallik |
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Designation
: |
Director |
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Address
: |
6B Solani Apartments, 8/2,
Alipore Park Road, Kolkata – 700027, West Bengal, India |
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Date
of Birth/Age : |
73 Years |
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Qualification
: |
Chartered Accountants |
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Name : |
Mr. K. S. Raju |
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Designation
: |
Director |
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Address
: |
Digvijam’ Plot No.933 A, Road
No. 47, Jubilee Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Date
of Birth/Age : |
54 Years |
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Qualification
: |
Mechanical Engineer |
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Name : |
Mr. D. Ranga Raju |
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Designation
: |
Director |
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Address
: |
A Block, 201 Paradise
Apartments, Seethammadhara, Visakhapatnam, Andhra Pradesh, India |
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Date
of Birth/Age : |
70 Years |
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Qualification
: |
B.Com |
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Name : |
Mr. K. Rahul Raju |
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Designation
: |
Director |
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Address
: |
Digvijam’ Plot No.933 A, Road
No. 47, Jubilee Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Date
of Birth/Age : |
28 Years |
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Qualification
: |
B.Com (Hons) |
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Name : |
Mr. K. Lakshmi Raju |
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Designation
: |
Director |
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Address
: |
Digvijam’ Plot No.933 A, Road
No. 47, Jubilee Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Date
of Birth/Age : |
30 Years |
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Qualification
: |
M.B.A. |
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Name : |
Mr. G. S. Raju |
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Designation
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Managing Director |
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Address
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Plot No. 936, Road No. 47,
Jubilee Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Date
of Birth/Age : |
46 Years |
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Qualification
: |
Graduate Engineer |
KEY EXECUTIVES
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Name : |
Mr. A. S. Pardha Saradhi |
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Designation
: |
Company Secretary |
MAJOR SHAREHOLDERS
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Category |
No. of Shares |
Percentage (%) |
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PROMOTERS HOLDING |
1,17,16,686 |
78.65 % |
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NON-PROMOTERS HOLDING |
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Institutional Investors |
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Mutual
Funds and UTI |
15,100 |
0.10 % |
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Banks,
Financial Institutions, Insurance Companies (Central/State
Government Institution / Non-government Institutions) |
500 |
0.01 % |
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Foreign Institutional Investors (Flls) |
104036 |
0.70 % |
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OTHERS |
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Private Corporate
Bodies |
578129 |
3.88 % |
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Indian
Public |
2411261 |
16.18 % |
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NRIs/OCBs |
72445 |
0.48 % |
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Total |
14898157 |
100.00 % |
BUSINESS DETAILS
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Line
of Business : |
Manufacturing and marketing of Pesticides Technicals and
Formulations (i.e. Liquids & Wettables). |
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Product
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PRODUCTION STATUS
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Particulars |
Unit |
Installed Capacity |
Actual Production |
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Technicals
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MT p.a. |
3500 |
2967 |
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Formulations
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- Liquids
/ Wettables / Granules |
KL/ MT p.a. |
7560 |
16962 |
GENERAL INFORMATION
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Suppliers
: |
Ø
Agarwal
Packing Private Limited Ø
Akkireddy
Agencies Ø
Arihant
Polypack Industries Ø
Ashok
Engineers Ø
Baba
Container Manufacturers Ø
Bullion
Flexi Pack Private Limited Ø
Canle
Valves Private Limited Ø
Coastal
Cartoons Private Limited Ø
Domino
Printech India Private Limited Ø
Eagle
Metal Printers Private Limited Ø
Emmennar
Pharma Containers Private Limited Ø
Essae
Teraoka Limited Ø
Globe
Scientific Glass Industries Ø
Hitech
Plastics Ø
Hychem
Laboratories Ø
Industrial
Sales Corporation Ø
Industrial
Solvents & Chemicals Ø
Jalaram
Plastic Industries Ø
Kranti
Metals Private Limited Ø
Manasa
Printers Ø
Manjushree
Stretch Film Private Limited |
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No. of
Employees : |
About 200 |
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Bankers
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Ø
State
Bank of India Ø
HDFC
Bank Limited Ø
Punjab
National Bank Ø
State
Bank of Mysore Industrial Finance Branch, P. O. Box No. 125, Myhome
Jupally, Ameerpet, Hyderabad – 500 016, Andhra Pradesh, India Ø
ICICI
Bank Limited Level 1, West Wing, 1-11-256, Street No. 1, Begumpet,
Hyderabad – 500016, Andhra Pradesh, India Ø
Indian
Overseas Bank Main Branch, Bank Street, Hyderabad – 500 195, Andhra Pradesh, India Ø
Bank
of Baroda Industrial Finance Branch, Basheerbagh, Hyderabad – 500
029, Andhra Pradesh, India |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors
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M. Bhaskara Rao & Company Chartered Accountants |
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Address
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5-D, Kautilya, Somajiguda, Hyderabad – 500 082, Andhra
Pradesh, India |
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Associates
: |
Ø
Nagarjuna
International [Vietnam] Limited Ø
Jaiprakash
Engineering and Steel Company Limited Ø
Nagarjuna
Holding [Vietnam] Pte Limited Ø
Nagarjuna
Oil Corporation Limited Ø
Nagarjuna
Power Corporation Limited Ø
Nagarjuna
Information Systems Limited Ø
Ikisan
Limited Ø
Nagarjuna
Corporation Limited Ø
Nagarjuna
Haifa India Limited Ø
Nagarjuna
Electric Generating Company Limited Ø
Nagarjuna
Foundation Ø
Paschim
Holdings Private Limited Ø
Corporate
Securities and Holdings Private Limited Ø
Nagarjuna
Management Services Private Limited Ø
K.V.K.
Raju International Leadership Academy Ø
Nagarjuna
Agricultural and Research Development Institute Ø
Biz
Softcom Solutions Private Limited Ø
Manga
Infotech Private Limited Ø
Bijam
Biosciences Limited Ø
Dakshin
Hydro Energy Limited Ø
Bhagiratha
Chemicals Company Limited Ø
Vijayalakshmi
Insecticides & Pesticides Limited Ø
Nagarjuna
Fertilizers & Chemicals Limited Ø
Nagarjuna
Investor Services Limited Ø
Nagarjuna
Impex Limited Ø
Nagarjuna
Aqua Exports Limited Ø
Nagarjuna
Finance Limited |
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Subsidiaries
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Nagarjuna
Agrichem (Australia) Pty Limited |
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Group
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>
Nagarjuna Group The group is truly an
enterprise on the move. Technocrat entrepreneur Mr. K. V. K. Raju laid the
foundation of the group over two decades ago. He started with an initial
investment of US $ 1.20 millions and showed the seeds of what is now one of
the fastest growing industrial houses in India. In addition to
Agribusiness, the group has made significant investment in core sectors like
petroleum refining, power generations, life sciences and information
technology. Today, the asset base of the group is over US $ 580 millions and
is projected to touch US $ 2500 millions by the year 2003, when the project,
which are currently under the implementation are completed. The group has a strong and growing presence in the Agribusiness,
Energy, Petroleum, Life Sciences and Information Technology. The agribusiness
division of the group is committed to enhancing the availability of quality
food supply for the future by developing producing products and services that
contribute to increasing farm productivity. Towards achieving this
objective, the group has made investments and acquired significant presence
in: ·
Plant
Nutrition ·
Crop
Protection ·
Seeds The group
provides a complete range of agricultural inputs cost – effectively. Its
products and services enjoy nation-wide reputation among the farming
community due to their consistent high quality. |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No. of
Shares |
Type |
Value |
Amount |
|
14898157 |
Equity Shares |
Rs. 10/- each |
Rs. 148.982 millions |
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|
Of the above shares 21,03,157 shares are allotted as fully
paid on Preferential Basis |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS
FUNDS |
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1] Share
Capital |
148.982 |
148.981 |
148.981 |
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2] Share
Application Money |
0.000 |
0.000 |
0.000 |
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3]
Reserves & Surplus |
634.526 |
388.532 |
180.538 |
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4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
783.508 |
537.513 |
329.519 |
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LOAN
FUNDS |
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1]
Secured Loans |
962.623 |
296.746 |
62.026 |
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2]
Unsecured Loans |
320.353 |
71.561 |
67.028 |
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TOTAL
BORROWING
|
1282.976 |
368.307 |
129.054 |
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DEFERRED
TAX LIABILITIES |
136.413 |
106.360 |
90.171 |
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TOTAL
|
2202.897 |
1012.180 |
548.744 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
834.257 |
708.296 |
424.736 |
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Capital work-in-progress
|
101.789 |
16.913 |
30.857 |
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INVESTMENT
|
0.500 |
0.500 |
0.789 |
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DEFERREX TAX ASSETS
|
2.014 |
1.570 |
1.677 |
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CURRENT ASSETS, LOANS & ADVANCES
|
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Inventories
|
864.653
|
665.888
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Sundry Debtors
|
693.279
|
447.302
|
761.279 |
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Cash & Bank Balances
|
353.603
|
128.253
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Other Current Assets
|
0.907
|
1.509
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Loans & Advances
|
136.242
|
88.207
|
64.600 |
Total Current Assets
|
2048.684
|
1331.159
|
825.879 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
|
707.069
|
968.430
|
664.915 |
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Provisions
|
77.278
|
77.828
|
70.279 |
Total Current Liabilities
|
784.347
|
1046.258
|
735.194 |
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Net
Current Assets
|
1264.337
|
284.901
|
90.685 |
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
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TOTAL
|
2202.897 |
1012.180 |
548.744 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
3595.249 |
3432.868 |
2332.863 |
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Profit/(Loss) Before Tax
|
418.357 |
397.295 |
176.867 |
Provision for Taxation
|
138.870 |
135.800 |
42.730 |
Profit/(Loss) After Tax
|
279.970 |
261.495 |
134.137 |
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Export Value
|
1123.835 |
501.157 |
193.986 |
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Import Value
|
1380.197 |
631.875 |
293.902 |
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Total Expenditure
|
3176.892 |
3035.573 |
2155.995 |
KEY
RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt Equity Ratio |
1.25 |
0.57 |
0.68 |
|
Long Term Debt Equity Ratio |
0.62 |
0.31 |
0.43 |
|
Current Ratio |
1.17 |
0.98 |
0.93 |
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TURNOVER RATIOS |
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Fixed Asset Ratio |
3.87 |
4.38 |
3.88 |
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Inventory |
5.24 |
6.98 |
8.89 |
|
Debtors |
7.04 |
10.37 |
11.65 |
|
Interest Cover Ratio |
4.54 |
6.56 |
4.77 |
|
Operating Profit Margin (%) |
15.29 |
15.20 |
11.23 |
|
Profit Before Interest and Tax Margin (%) |
13.37 |
13.86 |
9.70 |
|
Cash Profit Margin (%) |
8.89 |
8.59 |
6.44 |
|
Adjusted Net Profit Margin (%) |
6.98 |
7.25 |
4.91 |
|
Return on Capital Employed (%) |
36.11 |
68.95 |
47.01 |
|
Return on Net Worth (%) |
42.39 |
56.56 |
40.04 |
STOCK PRICES
|
Face Value |
Rs. 10/- |
|
High |
Rs. 99.75/- |
|
Low |
Rs. 98.05/- |
LOCAL AGENCY FURTHER INFORMATION
History :
The company was incorporated on 11th November,
1986 at Hyderabad in Andhra Pradesh having Company Registration Number 16607.
The company was originally incorporated under the name and
style of Chemagro International Limited and was changed to the present in
October 1996.
The company is an associate of Nagarjuna Fertilisers and
Chemicals, NSL and Nagarjuna Financé. It is a part of the Nagarjuna Group and
managed by Chairman Mr. Nitish K. Sen Gupta.
In October 1994 it came out with a public issue of 2.370
million shares at a premium of Rs. 5/- aggregating Rs. 35.60 millions, to part
finance a Rs. 240 millions project to manufacture monocrotophos (MCP)
technicals and MCP formulations. MCP is an organo-phosphorous Pesticide. The
company supplies 50% of MCP to Nagarjuna Fertilizers, a group company and the
remaining 505 was used in formulations. MCP has eco-friendly characteristics
and is a fast acting pesticide useful against a wide range of pests. The
company has entered into an agreement with Nagarjuna Fertilizers and Chemicals
for marketing MCP formulations under the Nagarjuna brand name.
The company has also
commenced commercial production of Acephate with certain additions to the
existing plant. It has also identified three new projects viz. DDVP, Atrazine
and Profenofos. Of these, commercial production of Atrazine and Profenofos is
expected to commence by end of 1999.
Due to fast changing international business scenario the
company has enhanced its Research and Development activities and also plans to
introduce two new fungicides, Tricyclazole and Propiconazole. These products are currently imported and
sold in India. Introduction of new
products involves expenditure on research activities and installation of
various new equipments. Funding’s are
done by way of borrowed funds.
It is in
trade terms with:
·
Cores
and Containers Private Limited
·
Caps
& Containers Industries
·
Hitech
Plastics
·
Mipak
Plastics
·
Manjushree
Strech Films Private Limited
·
Silver
Prints
·
Sri
Sai Sindura Poly Products
·
Sannidhi
Industries
·
Tejeswi
Packing Private Limited
·
Core
Chemicals Private Limited
·
Eureka
Chemicals
·
Intermediates
& Chemicals
·
Piyush
Chemicals
·
Spak
Chemicals
Performance :
During the
year under review, Sales increased to Rs. 3520 millions, as compared to Rs.
2890 millions during the previous year. This translates to a year-on-year sales
growth of 22%. This increase in sales was primarily due to significant growth
in Exports.
The Profit
after Tax for the year under review was Rs. 280.0 Millions as compared to Rs.
245.2 Millions during the previous year. This translates to a year-on-year PAT
growth of 14%.
Exports :
During the year under review, export revenue has
grown to Rs.1154 Millions as compared to Rs.536.3 Millions during the previous
year. This represents a growth of 115%. They are pleased to confirm that
Nagarjuna has now been recognized by the Government of India as a two star
export house. In exports of agrochemicals - Nagarjuna is also now ranked among
the top 5 Indian companies.
Exports now account for
about 32% of Sales. It is the strategic intent of the company to increase
exports so that they will eventually be equal to or even higher than domestic
sales. In order to achieve this goal, the company is continuing to make
substantial investments into its manufacturing plants, Process development,
Product Registration, Marketing infrastructure and Human Resources.
New Projects/Expansions
Based
on the fundamental belief that their manufacturing plants are the most valuable
strategic assets of the company, they continue to aggressively invest in
building new plants, as well as, to update older plants to meet the best
international operational standards. Almost half of the Rs. 200 Millions of assets capitalized during the year- related to up
gradation of the Pollution and Environment control systems at the plant. The
company today has a wide variety of effluent treatment equipment that will
ensure that they will be able to grow their business in the future while being
fully compliant with established government standards.
A capital investment of Rs.
350 Millions is also being made to build
a new production block at their Srikakulam plant for manufacturing insecticides
and fungicides. This new plant is scheduled to start commercial operations in
November,
2006.
Their eventual goal is to
own and operate the best agrochemical manufacturing plants in India. They are
working in this direction and are confident of achieving this distinction
before the end of this decade.
Overseas Subsidiary :
Nagarjuna Agrichem [Australia] Pty Limited is a Wholly Owned
Subsidiary of the company incorporated in Australia. The subsidiary was started primarily for the purpose of applying
for and holding product registrations for the company’s products in
Australia. Due to some recent changes
in product registration requirements initiated by the Australian government, it
is no longer necessary for overseas manufacturers to have a local office in
Australia for holding product registrations.
It was therefore decided to close the subsidiary and closure permission
was obtained from the Australian Securities and Investments Commission [ASIC]
vide their notification dated 25th March, 2005.
The fixed assets of important value includes goodwill, land,
buildings, plant & machinery, electrical installations, furniture &
fixtures, office equipments, vehicles and other assets.
As per Website Details :
Profile :
Nagarjuna Agrichem Limited (NACL)
NACL was established in 1994 with an
investment of US $ 7 million for producing Monocrotophos Technical. NACL has
since grown substantially and now manufactures a comprehensive range of
pesticide technicals, formulations and custom manufactured fine chemicals. All
the manufactured products conform to international quality standards and
specifications.
They have adequate capacities,
state-of-the-art infrastructure, skilled and experienced manpower, technical
absorption capabilities. In fact, Custom Synthesis and manufacturing
are one of NACL's inherent capabilities. The production lines are designed
for a quick change over. They also undertake Custom Synthesis and
Toll Manufacturing Which caters to the requirement of reputed overseas
customers.
NACL has one of the largest Dealer Network spread across
India, with marketing and sales offices in addition to an extensive Warehousing &
Logistics Infrastructure to handle operations in 19 Indian States. NACL has has tie-ups with large
Indian Agrochemical Majors and MNC's for the domestic and export markets.
The current annual turn over of the Organization is US $ 50 million.
They are the largest sellers of High
Performance Speciality Fertilizers in India. These Fertilizers are sourced
through an exclusive tie-up with HAIFA
Chemicals, Israel.
They operate one of the most modern and
comprehensive Technical Agrochemical manufacturing plants, situated in
Srikakulam district of Andhra Pradesh, India.
The following technical products are
manufactured in the Srikakulam Unit :
|
In addition to the above, they also custom
synthesis several Fine Chemicals for reputed customers.
NACL formulates its formulations in a modern
Formulation Plant situated in the East Godavari District of Andhra Pradesh.
This location is situated in the scenic rice growing area on India's East
Coast. This Unit is one of the few to have in a single location, integrated
multi-line facilities capable of producing a variety of pesticide formulations
such as liquids, wettable powders and granules simultaneously. This unit has
the formulation technology to produce dry flowables and water based emulsions.
The category wise annual capacities are :
|
: |
10
million liters |
|
: |
3600 MT |
|
: |
10000 MT |
NACL has an impressive range of formulations in the
categories of Insecticides, Fungicides and Herbicides. In addition to catering
to the entire Indian subcontinent, they exports pesticide technicals
and formulations to some countries in Asia, Middle East Europe, South
America, Australia, Africa etc.,
Manufacturing and R & D
NACL has adequate capacities, state-of-the-art
infrastructure, skilled experienced manpower and technology absorption
capabilities. The production lines are designed for quick change over to also
undertake Toll manufacturing adhering to the highest international standards
and specifications.
The Technical Grade Pesticides manufactured by us
are :
|
The process Development Skills of NACL are comparable to the Best Indian
Companies. It is their belief that the R & D / Process Development
Department of NACL is the second largest of any Indian Agrochemical Company in
terms of size and scope of operation
R&D plays a critical role in Nagarjuna's activities in
Agribusiness. In recognition of this, Nagarjuna established Nagarjuna
Agricultural Research and Development Institute (NARDI) in 1995 to focus
research on crop protection, crop production and crop improvement. NARDI today
has a 100 acre dedicated farm and is staffed by nationally renowned scientists
and other support staff. NARDI has also established research collaboration with
leading international institutes such as IRRI, ICRISAT, CIMMYT, ACRDC and ICAR.
In addition, NACL has a specialised R&D division
where work on relevant application research, custom
synthesis etc., is taken up. Some of the area's are synthesis routes for
generic products and improvement in operational efficiencies in exisiting
operations. Efforts are also on to develop Bio-pesticides and Fermentation
metabolites.
The infrastructure in these R&D divisions consists of
the latest analytical equipment including pilot plants to scale up processes to
commercial levels. The research in these R&D divisions is integrated
through the centralized support networking of NARDI.
Exports
Nagarjuna's growing
global presence is reflected in its exports. Today Nagarjuna is among the few
companies in India exporting pesticide technicals and formulations to as many
as 15 countries including Argentina, Australia, Greece, Italy, Japan, Oman,
Portugal, Saudi Arabia, South Africa, Spain, Sri Lanka, Taiwan, Vietnam and
Yemen.
To meet the growing demand in the international markets and
improve its export business, the Group is constantly introducing new generics
and formulations. To strengthen this process, Nagarjuna has generated complete
packages of Chemistry, Toxicology, Residues and Bioefficacy data
for all its manufactured techincals.
Products
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|
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For all the above mentioned products, they
can supply either Technical Grade Agrochemicals, Formulation Bulk or Formulated
Finished Goods in the desired concentration based on Customers Requirements.
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
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. 45.01 |
|
UK Pound |
1 |
Rs. 84.91 |
|
Euro |
1 |
Rs. 57.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |