MIRA
INFORM REPORT
|
Report Date : |
17.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
VAV
LIFE SCIENCES PRIVATE LIMITED |
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Registered Office : |
51/B,
Mittal Court, 224 Nariman Point, Mumbai – 400021 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.01.2003 |
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Com. Reg. No.: |
11-138713 |
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CIN No.: [Company
Identification No.] |
U24230MH2003PTC138713 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV09283B |
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PAN No.: [Permanent
Account No.] |
AABCV5999H |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Exporters of Organic, Inorganic and Bio Chemicals |
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
15000 |
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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 : |
Given
address of 72, GIDC, Near J Type Area, District Valsad – 396195 does not
belongs to company Subject
is a well – established company having satisfactory track. Trade relations
are fair. Payments are usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office/Factory: |
51/B,
Mittal Court, 224 Nariman Point, Mumbai – 400021 |
|
Tel. No.: |
91-22-22040596/99/22040600/22836802 |
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Fax No.: |
91-22-22826376/22836809 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr.
Arun Radeesfyan Kelia |
|
Designation : |
Director
|
|
Address : |
192/C
Grand Paradi Apartment, Kemps Corner, Mumbai – 400036 |
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Date of Birth/Age : |
25.08.1967 |
|
Date of Appointment : |
16.01.2003 |
|
Profile |
A chemical
engineer has been in the field of manufacturing & supplying organic
chemicals, to the leather industry, domestic and international, for the past
15 years. His core strength lies in the field of international chemicals
merchandising and project implementation. |
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|
|
|
Name : |
Mr.
Viral Rachunath Kedia |
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Designation : |
Director
|
|
Address : |
51/B,
Mittal Court, 224 Nariman Point, Mumbai – 400021 |
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Date of Appointment : |
16.01.2003 |
|
Profile |
A qualified
Chemical engineer and a Management Graduate he has several years of
experience in the field of Production Management, Quality Maintenance and
Product Development.He has also worked extensively in the field of medicinal
herbs in the past three years |
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|
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|
Name : |
Mr.
Kedia Raghunath Vibhor |
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Designation : |
Director
|
|
Address : |
51/B,
Mittal Court, 224 Nariman Point, Mumbai – 400021 |
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Date of Appointment : |
16.01.2003 |
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|
|
|
Name : |
Mr.
Mcrye Manoj Sunita |
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Designation : |
Director
|
|
Address : |
B – 5,
Govind Gopal Society, Cross Road, No. 1, Ashok Nagar, Kandivali (East),
Mumbai – 400101 |
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Date of Birth/Age : |
04.03.1976 |
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Date of Appointment : |
21.01.2006 |
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Name : |
Ms.
Sunita Manoj Morye |
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Designation : |
Director
|
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Address : |
B – 5,
Govind Gopal Society, Cross Road, No. 1, Ashok Nagar, Kandivali (East),
Mumbai – 400101 |
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|
|
|
Name : |
Mr.
Amit Ashok Pimpale |
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Designation : |
Director
|
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Address : |
321,
Indrapuri Colony, Indore – 452001 |
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Date of Birth/Age : |
23.12.1980 |
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Date of Appointment : |
29.07.2006 |
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Name : |
Ms.
Sabita Arun Kedia |
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Designation : |
Director
|
|
Address : |
192/C
Grand Paradi Apartment, Kemps Corner, Mumbai – 400036 |
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Date of Birth/Age : |
09.08.1971 |
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Date of Appointment : |
29.07.2006 |
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Name : |
Dr. S.V. Kulkarni |
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Designation : |
Technical
Consultant |
|
Profile |
His vast experience in the field of ayurveda and homeopathy and acts as a guiding force to the company’s development and research activities. Apart from quality of materials, check on
overheads, timely documentations and control over working team are also his
key strengths. |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Arun Radeesfyan Kelia |
60000 |
|
Mrs.
Sabita Arun Kedia |
30000 |
|
Mr.
Arun Radeesfyan Kelia (HUF) |
30000 |
|
Mrs.
Bimala Radheshyam Kedia |
30000 |
|
Total |
150000 |
BUSINESS DETAILS
|
Line of Business : |
Exporters
of Organic, Inorganic and Bio Chemicals |
GENERAL
INFORMATION
|
Bankers : |
Not
Available |
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Facilities : |
-- |
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Banking Relations : |
Unknown
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Auditors : |
N M
Dani & Company Chartered
Accountant |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
300000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 3.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
150000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 1.500 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 |
|
1.500 |
1.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2.675 |
1.700 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.175 |
3.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.148 |
0.424 |
|
|
2] Unsecured Loans |
|
0.000 |
0.176 |
|
|
TOTAL BORROWING |
|
0.148 |
0.600 |
|
|
DEFERRED TAX LIABILITIES |
|
0.085 |
0.029 |
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|
|
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|
|
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TOTAL |
|
4.408 |
3.829 |
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APPLICATION OF FUNDS |
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|
FIXED ASSETS [Net Block] |
|
0.875 |
0.867 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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|
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INVESTMENT |
|
0.900 |
0.850 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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|
Inventories |
|
1.465 |
0.692 |
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Sundry Debtors |
|
1.567 |
1.483 |
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|
Cash & Bank Balances |
|
1.115 |
0.370 |
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|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.297 |
1.414 |
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Total Current Assets |
|
5.444 |
3.959 |
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|
Less : CURRENT LIABILITIES & PROVISIONS |
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|
|
|
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|
Current Liabilities & Provisions |
|
2.850 |
1.891 |
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Total Current Liabilities |
|
2.850 |
1.891 |
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|
Net Current Assets |
|
2.594 |
2.068 |
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|
MISCELLANEOUS EXPENSES |
|
0.039 |
0.044 |
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|
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|
|
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TOTAL |
|
4.408 |
3.829 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [including other income] |
|
31.619 |
33.224 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
2.155 |
1.375 |
|
Provision
for Taxation |
|
0.827 |
0.529 |
|
Profit/(Loss)
After Tax |
|
1.328 |
0.846 |
|
|
|
|
|
|
Total
Expenditure |
|
29.354 |
31.745 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
4.20 |
2.54 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
6.81 |
4.13 |
|
|
|
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|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
25.98 |
28.49 |
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|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.51 |
0.04 |
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|
|
|
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|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.71 |
0.77 |
|
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|
|
|
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|
Current
Ratio (Current
Asset/Current Liability) |
|
|
1.91 |
2.09 |
LOCAL AGENCY
FURTHER INFORMATION
History
Established in 2002 VAV Life Sciences Private Limited. is a part of the 25 year old KEDIACHEM group (www.kedia.com). VAV Life Sciences Private Limited was established in order to develop and cater to the overseas market for chemical and herb industry.
VAV Life Sciences Private Limited exports a wide range of organic, inorganic
and bio chemicals to Asian and Middle East market. It also provides a range of
services to its customers in form of project consultancy, industry knowledge
and process know how.
Its herbal division caters to the growing
international demand for herbal products for therapeutic, cosmetic herbs and
nutritional supplements. It offers herbs (raw and powder) herbal extracts and
formulations.
They specialize in providing customized products for their customers, more
specifically for therapeutic, cosmetics and nutritional supplement.
Administration:
VAV Life Sciences Private Limited has a team of well qualified and specialized personal including bio chemists, technicians, procurement mangers, logistics manger and customer relationship executives, providing comprehensive know how about the industry. This helps in providing tailor made solutions to customers as per their requirements.
The company is also associated with various research institute and ayurvedic
and homeopathic doctors for product development and technical support
Registration
VAV Life Sciences Private Limited is a part of various reputed government and non-government associations.
Some of them are
CHEMEXCIL - Basic Chemicals, Pharmaceuticals & Cosmetics Export Promotion
Council (Address and reg no.)
FDA - Food and Drug Authority of India
NMPB - National Medicinal Plants Board
Herbs
Herbs are sourced from authorized associate cultivators and approved vendors only. The process for authorization is detailed and comprehensive in nature.
Herb sourcing is done as per three key parameters:
a) Region of origin of herb (This helps maximize active ingredient in the herb)
b) Season of harvest of herb. (Resulting in cost benefits)
c) Method of cultivation (Ensuring constant quality and minimum pesticide
level).
The above parameters results in supply of quality herbs through out the year at
affordable prices. Herbs and herbal powders that they offer are of superior
quality in terms of efficacy and other parameters. Their powders are sterilized
with UV Radiations/ EO radiation for longer shelf life and avoid growth of any
kind of microbial products.
|
Botanical name |
Common Name |
|
Acacia catechu |
Shatawari |
|
Adhathoda vasica |
Vasaka |
|
Allium sativum |
Garlic |
|
Andrographis paniculata |
Kalmegh |
|
Aspargus racemosus |
Shatawari |
|
Atropa belladonna |
Belladonna |
|
Azadirachta indica |
Nir Brahmi |
|
Boswellia serrata |
Shallaki |
|
Camellia Sinensis |
Green tea |
|
Casia angustifolia |
Senna |
|
Centella asiatica |
Brahmi, Gotu Kola |
|
Chlorophytum borivilianum |
Safed Musli |
|
Commiphora mukul |
Guggul |
|
Coleous |
Coleous |
|
Curcuma longa |
Turmeric |
|
Emblica officinalis |
Amla |
|
Glycyrrhiza glabra |
Licorice |
|
Gymnema Sylvester |
Gurmar |
|
Morinda citrifolia |
Noni |
|
Mucuna pruriens |
Kawach |
|
Ocimum sanctum |
Tulsi |
|
Picrorhiza kurroa |
Kutki |
|
Piper longum |
Lindipiper |
|
Piper nigrum |
Black pepper |
|
Psyllium Husk |
Isabgol |
|
Saraca indica |
Ashoka |
|
Sida cordifolia |
Bala |
|
Terminalia arjuna |
Arjuna |
|
Terminalia belerica |
Behada |
|
Tinospora cordifolia |
Gulvel |
|
Tribulus terrestris |
Gokhru |
|
Trigonella foenum |
Methi |
|
Valeriana wallachi |
Valerian |
|
Vitis vinifera |
Grape seed |
|
Withania somnifera |
Ashwagandha |
|
Zingiber officinalis |
Ginger |
Extracts
Extraction is done using modern equipment in sophisticated plants. Extraction units are assed to match international standards of manufacturing. Batch wise extraction is undertaken to enable to cater to the specific requirements of each order.
Emphasis is given to standardization of raw material, finished product and
process so as to ensure consistency in quality and yield. Finished products are
stored in dedicated warehouses to avoid contamination.,
|
Botanical name |
Common Name |
|
Acacia catechu |
Catechu |
|
Adhathoda vasica |
Vasaka |
|
Allium cepa |
Onion |
|
Allium sativum |
Garlic |
|
Aloe Barbadensis |
Aloe Vera |
|
Andrographis paniculata |
Kalmegh |
|
Aspargus racemosus |
Shatawari |
|
Atropa belladonna |
Belladonna |
|
Azadirachta indica |
Neem |
|
Bacopa monierri |
Nir Brahmi |
|
Boswellia serrata |
Shallaki |
|
Camellia Sinensis |
Green tea |
|
Casia angustifolia |
Senna |
|
Centella asiatica |
Brahmi, Gotu Kola |
|
Chlorophytum borivilianum |
Safed Musli |
|
Citrus auarantium |
Orange |
|
Combination of Amla, Behada & Harda |
Triphala |
|
Commiphora mukul |
Guggul |
|
Coleous |
Coleous |
|
Curcuma longa |
Turmeric |
|
Emblica officinalis |
Amla |
|
Garcinia cambogia |
Kokum |
|
Glycyrrhiza glabra |
Licorice |
|
Gymnema Sylvester |
Gurmar |
|
Momordica charantia |
Karela |
|
Morinda citrifolia |
Noni |
|
Mucuna pruriens |
Kawach |
|
Ocimum sanctum |
Tulsi |
|
Picrorhiza kurroa |
Kutki |
|
Piper longum |
Lindipiper |
|
Piper nigrum |
Black pepper |
|
Psyllium Husk |
Isabgol |
|
Saraca indica |
Ashoka |
|
Sida cordifolia |
Bala |
|
Terminalia arjuna |
Arjuna |
|
Terminalia belerica |
Behada |
|
Tinospora cordifolia |
Gulvel |
|
Tribulus terrestris |
Gokhru |
|
Trigonella foenum |
Methi |
|
Valeriana wallachi |
Valerian |
|
Vitis vinifera |
Grape seed |
|
Withania somnifera |
Ashwagandha |
|
Zingiber officinalis |
Ginger |
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.45.01 |
|
UK
Pound |
1 |
Rs.84.91 |
|
Euro |
1 |
Rs.57.48 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|