MIRA
INFORM REPORT
|
Report Date : |
29.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KUMAR ORGANICS PRODUCTS LIMITED |
|
|
|
|
Registered Office : |
Plot No. 36, Road No. 3 and 5 , Jigani Industrial Area, Anekal Taluk, Bangalore - 562 106, Karnataka, India. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2004 |
|
|
|
|
Date of Incorporation : |
01.07.1991 |
|
|
|
|
Com. Reg. No.: |
08-012095 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24231KA1991PLC012095 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK01207D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing, Trading, Marketing, Importing, Exporting and Dealing of fine chemicals such as anti-bacterial, anti-microbial, allied bulk drugs, aroma chemicals, etc. Also undertakes/provides research and development facility to 3rd parties on contract basis. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3750000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track. Directors are reported as experienced, respectable and having satisfactory track records. Trade relations are fair. Payments are correct and as per commitments. The company can be considered good for any normal business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office/Factory : |
Plot No. 36, Road No. 3 and 5 , Jigani Industrial Area, Anekal Taluk, Bangalore - 562 106, Karnataka, India. |
|
Tel. No.: |
91-80-27825376 /27826018/6796 |
|
Fax No.: |
91-80-7825439 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4041 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Head Office : |
Plot No. 62, Road No. 3, Jigani Industrial, Anekal Taluka, Bangalore –
562106, Karnataka |
DIRECTORS
|
Name : |
Mr. Krishna Kumar Singh |
|
Designation : |
Chairman |
|
Address : |
Kumar Bhavan, Tekari Road, Gaya – 823001, Bihar |
|
Date of Birth/Age : |
23.09.1941 |
|
Qualification |
M.Sc. |
|
Experience |
39 years |
|
Date of Appointment : |
06.09.2005 |
|
|
|
|
Name : |
Mr. Udayan Kumar Singh |
|
Designation : |
Managing Director |
|
Address : |
128, 7th
Main, 5th Block, Jajanagar, Bangalore - 82 |
|
Date of Birth/Age : |
22.03.1966 |
|
Qualification : |
B.E.(Chemical
Engineer) |
|
Experience : |
14 years |
|
Date of Appointment : |
30.05.2001 |
|
|
|
|
Name : |
Ms. Singh Usha |
|
Designation : |
Director |
|
Address : |
Kumar Bhavan, Tekari Road, Gaya – 823001, Bihar |
|
Date of Birth/Age : |
05.11.1949 |
|
Date of Appointment : |
06.09.2004 |
|
|
|
|
Name : |
Mr. Unayan Kumar
Singh |
|
Designation : |
Director |
|
Address : |
128, 7th
Main, 5th Block, Jajanagar, Bangalore - 82 |
|
Date of Birth/Age : |
16.01.1971 |
|
Date of Appointment : |
02.08.2006 |
|
|
|
|
Name : |
Ms. Shubtra Singh |
|
Designation : |
Director |
|
Address : |
128, 7th
Main, 5th Block, Jajanagar, Bangalore - 82 |
|
Date of Birth/Age : |
25.07.1971 |
|
Date of Appointment : |
30.09.2003 |
|
|
|
|
Name : |
Mrs. Swetlana
Singh |
|
Designation : |
Director |
|
Address : |
128, 7th
Main, 5th Block, Jajanagar, Bangalore - 82 |
|
Date of Birth/Age : |
26.08.1978 |
|
Date of Appointment : |
26.05.2006 |
|
|
|
|
Name : |
Dr. Awadesh Prasad Singh |
|
Designation : |
Director |
|
Address : |
Nilayam Collectorbuck Gunj, Bareilly, Uttar Pradesh |
|
Date of Birth/Age : |
30.09.1983 |
|
Date of Appointment : |
30.09.2003 |
|
|
|
|
Name : |
Mr. B S Sahay |
|
Designation : |
Director –
Finance |
|
Address : |
F 396, Usha Krishna Nagar, Sarvom Nagar, Billekhallt, Bangalore –
560076, Karnataka |
|
Date of Birth/Age : |
01.01.1942 |
|
Date of Appointment : |
30.09.2003 |
|
|
|
|
Name : |
Mr. Singh Sachi Danand |
|
Designation : |
Director |
|
Address : |
125, 9th Main Sector – 1, Noba Nagar, Bangalore - 560076 |
|
Date of Appointment : |
06.09.2004 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Kumar
Ojha |
|
Designation : |
Company Secretary
|
|
Address : |
Flat No. 3, Ushakrishna Apartment, Bangalore – 560076, Karnataka |
|
Date of Birth/Age : |
15.10.1976 |
|
Date of Appointment : |
01.07.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. Krishna Kumar Singh |
68836 |
|
Mr. Udayan Kumar Singh |
153853 |
|
Mrs. Usha Singh |
94631 |
|
Mr. Unayan Kumar Singh |
142816 |
|
Mrs. Shubra Singh |
101289 |
|
Mrs. Svtalana Singh |
90536 |
|
Ms. Kusum Kumari Devi |
11870 |
|
Mr. Balaji J P |
6 |
|
S D N Singh & Sons (HUF) |
23689 |
|
Mrs. K. K. Devi |
5809 |
|
Mr. Sourya Singh |
29785 |
|
Mr. Shriyan Singh |
29015 |
|
Mr. Shashank Singh |
21048 |
|
Total |
773183 |
31.03.2006
Directors or relatives of directors – 100%
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Trading, Marketing, Importing, Exporting and Dealing of fine chemicals such as anti-bacterial, anti-microbial, allied bulk drugs, aroma chemicals, etc. Also undertakes/provides research and development facility to 3rd parties on contract basis. |
||||||||||||
|
|
|
||||||||||||
|
Products |
The company's product range includes : v
Triclosan v
2,4, Dichloro 4' Hydroxy Diphenyl Ether v
2,4 Dichloro 4' Amino Diphenyl Ether v
2,4 Dichloro 4' Nitro Diphenyl Ether v
2 Amino Diphenyl Ether (O-Phebnoxy Aniline) v
2 Nitro 4' Chloro Diphenyl Ether v
2-Amino 4 Chloro Diphenyl Ether v
2-Hydroxy 4'-Chloro Diphenyl Ether |
||||||||||||
|
|
|
||||||||||||
|
Exports : |
|
||||||||||||
|
Countries : |
USA, UK, Netherlands, Italy, Switzerland, Philippines, Latin American Countries, Singapore, Malaysia and Taiwan |
||||||||||||
|
|
|
||||||||||||
|
Imports : |
|
||||||||||||
|
Countries : |
USA, UK, Holland, Germany, France, Japan, Malaysia, Indonesia and Singapore. |
||||||||||||
|
|
|
||||||||||||
|
Terms : |
|
||||||||||||
|
Selling : |
L/C, D/A and Credit (60-180 days) terms Locally - Credit (30 -60 days) terms |
||||||||||||
|
|
|
||||||||||||
|
Purchasing : |
L/C and Credit (60-180) days terms Locally -Credit (30 -60 days) |
PRODUCTION STATUS
|
Particulars |
Unit |
|
Licensed
Capacity & Installed Capacity |
Actual
Production |
|
Triclpsan |
Kgs |
|
240000 |
60% |
|
Rose Oxide |
Kgs |
|
2500 |
150% |
|
Allyl Corporate C 19 |
Kgs |
|
20000 |
-- |
|
Aldehyde C 16 |
Kgs |
|
20000 |
-- |
|
Zine Pyrithane |
Kgs |
|
10000 |
100% |
|
Shaurya |
Kgs |
|
6000 |
100% |
GENERAL
INFORMATION
|
Suppliers : |
v Rodia Organiks, France v Solvay, Belgium v Ercros, Spain v Akishokai, Japan v W S Simpson, UK v Acid Pluss v Mahendra Dye Chem v Income Chlor Limited v Tribhuvan Chemicals v Japro Engineering Private Limited v Posh Pups Industries v AIM Industries v Balaji Electro Controls Private Limited v Bansali Industrial Corporation v Jain Pipes & Fitting v Marun Tech Engineer Industries v Mehra Engineer v Sanay Project Services Private Limited v Sampar Micro Filters Private Limited v Santhom Engineer Company v Tata Honeywell Limited |
|
|
|
|
Customers : |
v Colgate Palmolive Company, USA v Industrial Quianica, South America v Lipo De, Brazil v Hindustan Lever Limited v Lipo Columtin Limited v Advanual Oral Products Limited v Professional Oral Cane Products Limited v Abon Adal Trading Company v Advanced Oral Products Private Limited v Alchem Labs v Colgate & Palmolive India Private Limited v Colgate & Palmolive Nepal Private Limited v Industria Quimica Del Centre v Lipo Chemicals Venezuela C.A. v Lipo De Brasil v Professional Oral Care Products Private Limited v Sachee Aromatics v Shree Rama Ayurvedic & Cosmetics v Sefranex v EPI Ranga Commercial Quamec |
|
|
|
|
No. of Employees : |
200 persons -- 120 persons in factory and 80 persons in office and others. |
|
|
|
|
Bankers : |
v State Bank of India, Banashankari Branch, Bangalore, Karnataka v ICICI Bank Limited v Corporation Bank, Industrial Finance Branch, Queens Road, Bangalore - 560 001 v Hong Kong Bank, Bangalore – 42 v Corporation Bank v Canara Bank, Industrial Finance Branch, Richmond Road, Bangalore – 560025 |
|
|
|
|
Facilities : |
Secured Loan Corporation Bank (PLC) – Rs. 3.900 Millions Vehicle Loan – 2.622 Millions Corporation Bank – Bill Discounting – Rs. 5.078 Millions Cash Credit – Rs. 6.869 Millions Corporation Bank – IFB – Rs. 0.977 Millions Corporation Bank – Term Loan – 57.564 Millions Total – Rs. 77.011 Millions Unsecured Loan Colgate Palmolive India Private Limited – Rs. 20.809 Millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
R. S. Mishra & Company Chartered Accountants |
|
Address : |
Bangalore - 560 002, Karnataka |
|
|
|
|
Collaborators : |
M/s. Dala, Mumbai |
|
|
|
|
Associates: |
v Kumar Katha Industries (Private) Limited v Kumar Bone Meal (Private) Limited |
|
|
|
|
Subsidiaries : |
Kop Research Centre Private Limited |
|
|
|
|
Group Company : |
Kumar Organic Product Research Centre, Bangalore, Karnataka |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.100 each |
Rs. 75.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
597100 |
Equity Shares |
Rs.100 each |
Rs. 59.710 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
59.710 |
57.607 |
29.204 |
|
|
2] Share
Application Money |
4.190 |
0.000 |
0.240 |
|
|
3] Reserves &
Surplus |
29.930 |
21.487 |
28.843 |
|
NETWORTH
|
93.830 |
79.094 |
58.287 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
77.010 |
24.013 |
29.477 |
|
|
2] Unsecured Loans |
20.810 |
20.798 |
20.196 |
|
TOTAL BORROWING
|
97.820 |
44.811 |
49.673 |
|
|
DEFERRED TAX
LIABILITIES |
7.760 |
5.082 |
-- |
|
|
|
|
|
|
|
TOTAL
|
199.410 |
128.987 |
107.960 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
153.290 |
80.836 |
66.643 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
18.640 |
19.787 |
18.979 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
18.270
|
10.121
|
9.275 |
|
|
Sundry Debtors
|
29.110
|
13.137
|
10.806 |
|
|
Cash & Bank Balances
|
2.230
|
6.357
|
1.235 |
|
|
Loans & Advances
|
17.670
|
25.602
|
20.490 |
Total Current Assets
|
67.280
|
55.217
|
41.806 |
|
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
24.456
|
9.176
|
9.390 |
|
|
Provisions
|
15.464
|
17.866
|
10.161 |
Total Current Liabilities
|
39.920
|
27.042
|
19.551 |
|
Net Current Assets
|
27.360
|
28.175
|
22.255 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.120 |
0.189 |
0.083 |
|
|
|
|
|
|
|
TOTAL
|
199.410 |
128.987 |
107.960 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
|
Sales Turnover |
175.880 |
129.191 |
110.352 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
175.880 |
129.191 |
110.352 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
30.550 |
26.661 |
17.907 |
|
|
Provision for Taxation |
6.200 |
5.417 |
4.257 |
|
|
Profit/(Loss) After Tax |
24.350 |
21.244 |
13.650 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
Total Earnings |
69.150 |
42.863 |
25.074 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
Total Imports |
47.130 |
11.465 |
12.012 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
3.447 |
2.714 |
0.000 |
|
|
Manufacturing Expenses |
28.529 |
23.981 |
0.000 |
|
|
Administrative Expenses |
27.123 |
17.645 |
0.000 |
|
|
Raw Material Consumed |
57.075 |
33.716 |
0.000 |
|
|
Consumption of stores and spares parts |
0.225 |
0.187 |
0.000 |
|
|
Depreciation & Amortization |
9.513 |
9.041 |
0.000 |
|
|
Other Expenditure |
1.339 |
2.447 |
92.445 |
|
Total Expenditure |
127.251 |
89.731 |
92.445 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
31.03.2002 |
PAT / Total Income
|
(%)
|
13.84 |
16.443
|
16.227 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
17.36 |
22.091
|
16.938 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total Assets} |
(%) |
13.85 |
17.107
|
14.052 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.32 |
0.337
|
0.307 |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
1.46 |
0.908
|
1.187 |
|
|
|
|
|
|
Current Ratio
(Current Asset/Current Liability) |
|
1.68 |
2.041
|
2.138 |
LOCAL AGENCY
FURTHER INFORMATION
History
Subject
was converted into a deemed public limited liability company with effect from
April 2001.
The company draws its strength from the technologically fertile
foundations of an integral yet dynamic research and development manifesto.
Subject import 40% raw material for own use.
The company's fixed assets of important value include land, buildings
and plant & machinery.
|
Name of the company |
KUMAR ORGANICS PRODUCTS LIMITED |
|
1) Date and description of instrument creating the change |
Date – 26.09.2005 Common hypothecation agreement |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 259.500 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 |
Hypothecation of the whole of the present and future stock raw
materials, goods in process, finished and manufacturer goods stock in trade,
stores spares components, machineries, vehicles, furniture, fixture and all
other movable goods, properties & book debts etc on first charge basis |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interests – OCC/ODBD/BE – 9.5% PC/FDB/FBE/ - 7% Project Margin – 10% for TL and as applicable to time, repayment for
WC Limits on demand. TL as per terms |
|
5) Name and Address and description of the person entitled to the
charge. |
Canara Bank, Industrial Finance Branch, Richmond Road,
Bangalore – 560025 |
|
6) Date and brief description
of instrument modifying the charge |
Date – 30.12.2005 No instrument – equitable mortgage by deposit of title deeds |
|
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. |
By the above the company has provide additional security of its
immovable the entire limit of Rs. 259.500 Millions all that piece and Parle
of immovable properties comprising land
|
The company’s product range of fine chemicals enjoy a wide success in
the cream of pharmaceutical and cosmetics companies in India and prominent
countries in Europe and America.
The company is one of the leading manufacturers of well-known
antibacterial "TRICLOSAN".
Other items includes perfumery chemicals like :
v
Rose Oxide, Citronellyl Nitrile, C16 Aldehyde, Allyl Caproate, etc.
v
Diphenyl Ether intermediates like 2, 4 Dichloro, 4 Hydroxy Diphenyl
Ether, 2 Amino Diphenyl Ether, etc.
v
Valuable Chemical intermediates like Guetol, Guaiacol, etc.
v
Perfumery Chemicals like Raspberry Ketone, etc
Trade References :
v
C M Ahuja & Company
Remi Sales & Engg Limited
v
N P Shah & Company
Scientific Sales Syndicate
AS PER
WEBSITE
Established in 1993, Kumar Organic Products
Limited is a company born out of universal values of commerce and trade. The
company is committed to the growth of objective standards of mutual business
prosperity. Kumar Organic is leading manufacture and exporter of Speciality
Fine Chemicals and Speciality Chemicals. The supreme dedication of quality, a
consistently result oriented innovativeness, a keen eye on future horizons and
the most modern technology.
Products
1. Triclosan :
Grades:
a) Triclosan USP
b) Triclosan 5000
c) Other related Diphenyl ethers
DMF NO:16818,TYPE II
Uses: An effective, wide-spectrum, Anti-microbial Agent with extensive
application in Oral Care, Personal Care, Cosmetics, Plastics and Textile
industries.
2. Zinc Pyrithione:
Grades:
a) Zinc Pyrithione 48% Fine Particle Suspension.
b) Zinc Pyrithione Powder
Uses: An effective and widely used Anti-Dandruff Agent. It is also used
as an Anti-fouling Agent.
3. Rose Oxide:
Grades:
a) 90:10
b) 70:30
Uses: Aroma Chemical
4. Minoxidil USP/EP/BP:
Uses: Hair-growth Stimulant and Anti-hypertensive
Drug. Agent.
5. Kopexil:
Uses : Very effective
Hair-growth Stimulant, and also prevents hair-loss.
6. Piroctone Olamine:
Uses: It is used as an effective Anti-dandruff
Agent
7. Ciclopirox Olamine:
Uses: It is an
effective Anti-fungal Agent
8. Beta-Arbutin:
Uses: Skin-whitening Agent.
9. Kopsan:
Uses: :Anti-bacterial for Textiles,Soap and
Detergent
10. Chiba:
Uses: A 100% natural, herbal extract with
Anti-microbial, anti-oxidant, anti-tumor, and anti-aging property. Can be used
against Oral Pathogens, Skin microorganisms, and also as a food-additive.
11.Cholesteryl Esters:
Uses: : Liquid Crystals, Lipcare
They also manufacture a variety of other
products such as Anti-aging Anti-oxidants, Anti-microbial, Anti-hypertensive,
etc. Some of their other products include Koptol ( Resveratrol ), Kopsine (
L-Carnosine ), Kopnol ( Hexylresorcinol ), etc.
Credentials
- Their organization is certified with ISO 9001: 2000 (Quality
Management System) and ISO 14001: 1996 (Environmental Management
System). They are WHO - cGMP approved.
- They have been recognized as ONE STAR EXPORT HOUSE from the
Government of India, Ministry of commerce, DGFT Bangalore.
- They are the approved suppliers for Colgate, Unilever, P&G,
Avon, Givaudan, Symrise, Lipo Group, etc
Quality
Quality is their priority in all their activities. Their analytical
capabilities are very high because of the continuous training given to their
chemists to enhance their skills and addition of new world class instruments.
They aim at developing systems which are self sustaining to take care of :-
v
Product Contamination
v
House- Keeping
v
Cleanliness, Maintenance
v
Documentation
v
Involvement of people at all levels
Kumar Organic Products Limited has received and ISO 14001:1996 for the
Environmental Management system and ISO 9001:2000 for the Quality Management
System.
Manufacturing Facilities
Kumar Organic Products has captive manufacturing capabilities which consists of
modern production lines and processes manned by experienced professionals. They
include the following type of reactions:-
v
Condensation
v
Esterification
v
Hydrogenation
v
Hydrolysis
v
Freidel Craft Reaction
v
Alkalyzation
v
Chlorination
v
Nitration
v
Bromination
v
Grignard Reaction
v
High Vacuum Distillation
v
High Pressure Reaction
Customer Satisfaction
Kumar Organic Mission foresees lasting and satisfying relationships with
whoever they deal with in the course of its fulfillment, be they their
customers, associates, competitors or their own employees. For Kumar Organic Products
based on explicit principles of mutually respectful business alliances,
progress is a natural and normal way of life. Kumar Organic Products' range of
fine chemicals enjoy a wide success in the cream of pharmaceutical and cosmetic
companies in India and prominent countries in Europe and America.
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.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
56 |
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 |
|