MIRA INFORM REPORT
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Report
Date : |
15.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ASSOCIATED
CAPSULES PRIVATE LIMITED |
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Registered
Office : |
131, Kandivli Industrial Estate, Kandivli (West), Mumbai-
400067, Maharashtra, India |
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Country: |
India |
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Financials
(as on): |
31.03.2005 |
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Date
of Incorporation : |
13.07.1961 |
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Com.
Reg. No.: |
11-12061 |
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CIN
No.: [Company Identification No.] |
U24239MH1961PTC012061 |
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TAN
No.: [Tax Deduction & Collection Account No.] |
MUMA18885G |
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PAN
No.: [Permanent Account No.] |
AAACA4769K |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Manufacturers and Sellers of hard gelatin capsule shells
I.P coating on various substracts and lamination printed / unprinted films /
sheets of PVC, PP and other materials. |
RATING & COMMENTS
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MIRA’s
Rating : |
A |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum
Credit Limit : |
USD
7000000 |
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Status
: |
Good |
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is a well established and reputed company engaged
in manufacturing and marketing/exporting of hard gelatine capsule shells,
HPMC Capsule Shells, Coated/Laminated Siltted Firms and Cold Form Blisters
and PVC films. The company has been making good progress consistently.
Directors are well experienced and very resourceful industrialists. Trade
relations are reported as fair. Payments are usually made as per commitments.
It can be considered good for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered
Office : |
131, Kandivli Industrial Estate,
Kandivli (West), Mumbai- 400067, Maharashtra, India |
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Tel.
No.: |
91-22-28682010
(9 Lines) |
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Fax
No.: |
91-22-28686152/28682514 |
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E-Mail
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Website
: |
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Area : |
4933 sq.mtr |
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Location : |
Owned |
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Corporate
Office : |
10th Floor, Dalamal House, Nariman Point,
Mumbai – 400 021, Maharashtra, India |
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Tel.
No.: |
91-22-2287 2557/58/59/2288 0461/2/3 /22856666 |
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Fax
No.: |
91-22-22872560 |
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E-Mail
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Factory
1 : |
131,
Kandivli Industrial Estate, Kandivli (West), Mumbai – 400 067, Maharashtra,
India |
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Tel. No. : |
91-22-2868 2010 |
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Fax No. : |
91-22-2868 6152 / 2868 2514 |
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E-mail. : |
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Factory
2 : |
Village Shindewadi, Shirwal, Taluka Khandala, District
Satara, Maharashtra, India |
DIRECTORS
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Name : |
Mr. Ajit
Singh (Foreign) |
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Designation
: |
Managing
Director |
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Address: |
131,
Kandivli Industrial Estate, Kandivli
(West), Mumbai – 400 067, Maharashtra Tel.
No. : 91-22-28682010 Fax
No. : 91-22-28682514 E-Mail: acg@bom5.vsnl.net.in |
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Name : |
Mr.
Jasjit Singh (Foreign) |
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Designation
: |
Director |
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Date
of Joining: |
17/08/1964 |
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Address: |
131,
Kandivli Industrial Estate, Kandivli
(West), Mumbai – 400 067, Maharashtra Tel.
No. : 91-22-28682010 Fax
No. : 91-22-28682514 E-Mail: acg@bom5.vsnl.net.in |
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Name : |
Mrs.
Vijaya Kuverba |
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Designation
: |
Director |
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Date
of Joining: |
13/09/1963 |
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Address: |
Ben
Nevis, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra |
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KEY EXECUTIVES
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Name : |
Mr. Navin
C. Asthana |
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Designation
: |
Company Secretary |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr.Ajit
Singh |
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180 |
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Mrs.Vijaya
K. Kuverba |
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18,000 |
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Mr. Ajit
Singh |
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1,20,114 |
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Mr. Ajit
Singh |
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16,902 |
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Ashagadh
Trading Investment and Financial Company |
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1,09,890 |
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Rajasthan
Capsules Private Limited |
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1,79,100 |
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Non Trade
Exports Private Limited |
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1,78,200 |
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Surya
Capsules Private Limited |
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1,77,300 |
BUSINESS DETAILS
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Line
of Business : |
Manufacturers and Sellers of hard gelatin capsule shells
I.P coating on various substracts and lamination printed / unprinted films /
sheets of PVC, PP and other materials. |
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Products
with ITC Code : |
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Imports
from : |
Europe |
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Terms
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Purchasing : |
L/C and Credit terms |
PRODUCTION STATUS
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Particulars |
Unit |
Installed Capacity |
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Hard Gelatin Capsule Shells IP |
Million Nos. |
23800 |
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HPMC Cellulose Capsule Shells IP |
Million Nos. |
300 |
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Coated/Laminated & Slitted Films/ & Cold
Form Blisters & PVC Films |
Tonnes |
11400 |
GENERAL INFORMATION
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No. of
Employees : |
Around 1800 |
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Bankers
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v Standard Chartered Grindlays Bank
Limited, ORD SA, 90, M. G. Road, Mumbai – 400 001, India v
Bank
of India v State Bank of India, Virani
Industrial Estate, Goregaon (East), Mumbai – 400 050, India |
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Facilities : |
[figures are in
Rupees Millions)
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Banking Relations : |
Good |
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Auditors
: |
A. J.
Shah & Company Chartered
Accountants |
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Associates
: |
v
Aries
Components Manufacturing Private Limited v
Associated
Traders & Manufacturers v
Ashagadh
Trading Investment and Finance Company v
Bombay
Suburban Finance & Investment Company Private Limited v
Nontrade
Exports Private Limited v
Kandivli
Finance Company Private Limited v
Navrang
Investment and Trading Company Private Limited v
Nepean
Holdings Private Limited v
Pam
Glatt Pharma Technologies Private Limited Profile: PAM-Glatt was set up as a
joint venture between ACG Worldwide and Glatt GmbH, Germany, pioneers of
fluid bed technology, for the manufacture of world class FBE fluid bed
processors in India. The FBE fluid bed processors
provide cost-effective solutions for standard applications in the
pharmaceutical, chemical, food and feed industries. It is versatile over a
wide range of processes including batch granulation, agglomeration of powder
products, top spray film coating and batch drying of moist substances. The plant at Mumbai conforms to
all GMP and safety standards worldwide, including those specific to dust
explosion. A quick action stop valve has been introduced to guarantee optimum
protection of people, equipment and the working environment. v
Pam
Pac Machines Private Limited PAM-PAC also
represents IWKA in India for an advanced range of high speed machines for
blister packing, cartoning, tube filling and specially customized machinery. v
Pharmagenets v
Surya
Capsules Private Limited v
Western
India Pharmaceutical Services Private Limited v
Katol
Land Development & Trading Company Private Limited v
Reflections v
Universal
Capsules Limited v
Nontrade
Exports Private Limited v
Rajasthan
Capsules Private Limited v
Universal
Capsules Private Limited Profile: It is an active member
and US subsidiary of ACG Worldwide. It is one of the few organizations in the
world to offer end-to-end solutions in solid dosage systems. It manufactures
from empty gelatine capsules to natural vegetarian capsules; from
capsule-filling machines to packaging films and blister packing machines. Subject represents
ACG Worldwide in Indonesia and surrounding countries, to market their entire
range of empty hard gelatin capsules, capsule filling and sorting machines,
pharmaceutical grade PVC and PVdC coated PVC films, and blister packaging
machines. Known for its reliable supplies
of high quality capsules, low rejection levels, guaranteed machine
performance and its unswerving dedication to fight spurious drug
manufacturers, the company has established itself in the region as one of the
leading suppliers of solid dosage delivery formulations. The company has had a long-term
relationship with local ethical pharmaceutical manufacturers as well as
herbal manufacturers (JAMU) and even provides for Apotek and pharmacies.
Leading pharmaceutical giants including PT Sanbe, PT Soho, PT Pharos, PT
Medion, PT Indopharma, PT Zenith and many others form a part of the company's
vast clientele. Besides having received certificates of approval from
HALAL, Malaysia and the ISO 9002 Certification, the company is expecting the
Indonesian MUI Certification as well. v
ACL
Packaging Private Limited Profile: A pioneer
in introducing PVdC coated PVC films in India, the Associated Capsule Limited
- Packaging Films Division provides the complete range of high quality
barrier packaging films for blister packing. It is the only unit in India,
which manufactures rigid substrate PVC films as well as moisture barrier PVdC
coatings and laminations on the film, ensuring total control on quality. Aluminium Cold Forming Blister
Foil and pinhole-free lidding foil is also marketed in collaboration with
VAW, Germany. For extremely hygroscopic formulations, a W&H laminator
manufactures Triplex PVC/PE/PVdC films. PVC/ACLAR films are laminated in
collaboration with world leader Honeywell, USA. Aluminium Cold Forming
Blister Foil is also marketed in collaboration with VAW, Germany.
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Group
Companies: |
Ø
Ajas
Agrovat Foundation Ø
Amil
Enterprises Ø
Associated
Traders & Manufacturers Ø
Ajas
Components Private Limited Ø
Ascap
Holdings Ø
Bulk
Buyers Ø
Capsulabs Ø
Custom
Capsules Private Limited Ø
Centercops Ø
Dahanu
Corporation Ø
Emell
Audhyowgik Samshodhan Nigam Ø
Extra
Hands Ø
Jasjit
Singh (HUF) Ø
Universal
Capsules Private Limited Ø
Aries
Components Manufacturing & Company Ø
MNT
Will Trust Ø
Laxmi
Devi Deity Trust Ø
Lord
Krishna Deity Trust Ø
Lord
Shiv Shankar Deity Trust Ø
Nepean
Holding Private Limited Ø
Pam
Pharmaceutical & Allied Machinery Company Private Limited Ø
Pam
Glatt Pharma Technologies Private Limited Ø
Pam
Pac Machines Private Limited Ø
Pharmagents Ø
Universal
Capsules (L.l.C.) Ø
Reflection
Ø
Sardar
Daljit Singh (HUF) Ø
Scitech
Centre Ø
PT.
Universal Capsules Indonesia Ø
Universal
Capsules Philippines Inc. Ø
Fmepean
Holding |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
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24,00,000 |
Equity
Shares |
Rs 5/- each |
Rs 12.000 Millions |
|
30000 |
12% Non
Cummulative Redeemable Preference Shares |
Rs. 100/- each |
Rs. 3.000 Millions |
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Total: |
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Rs. 15.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
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|
1138276 |
Equity
Shares |
Rs 5/- each |
Rs 5.691 Millions |
|
21701 |
12% Non
Cummulative Redeemable Preference Shares |
Rs. 100/- each |
Rs. 2.170 Millions |
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Total: |
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Rs. 7.861 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
7.861 |
7.861 |
9.846 |
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2] Reserves & Surplus |
1798.248 |
1586.797 |
652.064 |
NETWORTH
|
1806.109 |
1594.658 |
661.910 |
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LOAN FUNDS |
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1] Secured Loans |
71.071 |
35.138 |
39.752 |
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2] Unsecured Loans |
219.695 |
150.653 |
246.712 |
TOTAL
BORROWING
|
290.766 |
185.791 |
286.464 |
|
DEFERRED
TAX LIABILITIES |
44.585 |
57.330 |
39.799 |
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TOTAL
|
2141.460 |
1837.779 |
988.173 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
592.454 |
509.075 |
333.379 |
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Capital work-in-progress |
34.120 |
54.078 |
5.047 |
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INVESTMENTS |
77.641 |
86.419 |
32.247 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
186.971 |
185.546 |
147.523 |
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Sundry Debtors |
788.442 |
821.177 |
349.011 |
|
Cash & Bank Balances |
40.834 |
104.209 |
17.179 |
|
Loans & Advances |
639.327 |
431.353 |
230.982 |
|
Total Current Assets |
1655.574 |
1542.285 |
744.695 |
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Less: CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
167.710 |
320.231 |
104.200 |
Provisions
|
59.009 |
33.847 |
22.995 |
Total Current Liabilities
|
226.719 |
354.078 |
127.195 |
Net
Current Assets
|
1428.855 |
1188.207 |
617.500 |
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MISCELLANEOUS
EXPENSES |
8.390 |
0.000 |
0.000 |
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TOTAL
|
2141.460 |
1837.779 |
988.173 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
2608.650 |
2561.074 |
1261.127 |
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Profit/(Loss) Before Tax |
347.506 |
566.998 |
188.315 |
|
Provision for Taxation |
129.756 |
165.778 |
45.282 |
|
Profit/(Loss) After Tax |
217.750 |
401.220 |
143.033 |
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Export Value
|
870.370 |
919.050 |
385.960 |
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Import Value
|
208.48 |
186.010 |
125.510 |
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Total Expenditures
|
2261.144 |
1994.075 |
1072.812 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
8.35 |
15.67
|
11.34 |
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Net Profit Margin
(PBT/Sales) |
(%) |
13.32 |
22.14
|
14.93 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
14.73 |
25.87
|
16.88 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.19 |
0.36
|
0.28 |
|
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|
Debt Equity Ratio
(Total
Liability/Networth) |
|
0.29 |
0.34
|
1.68 |
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|
Current Ratio
(Current
Asset/Current Liability) |
|
7.30 |
4.36
|
5.85 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Subject was incorporated on 13th July 1961 at
Mumbai in Maharashtra under the name and style of Associated Capsules Limited
having Company Registration Number 12061.
The company has converted
into the private limited liability company.
Performance
The operations of both the Capsules Division and the PVC/VDC
Division during the year were encouraging and reflected an improvement over the
previous year. The company has done well in Exports to USA during the year.
Corporate
Restructuring:
Keeping in view the
changes taking place in the global environment, the aging top management and
the imminent changes of guard in the next few years (specially in view of
limited number of family members), it was necessary to build in simplicity of
holdings, flexibility and attractiveness in terms of a large internationally
viable business unit not having internal competition. This necessitated
undertaking of corporate restructuring exercise for consolidating capsules
manufacturing operations and simplying the corporate structure. Also the need
to successfully compete in global arena necessitated cutting down of duplicate
costs, standardizing processes and products, maximizing synergy and
repositioning the group as a serious global player.
During the year the company received court approvals
sanctioning the scheme of arrangements for demerger of capsules manufacturing
division of Universal Capsuls Private Limited in to the company and
amalgamation of Ashagadh Trading Investment & Finance company, Navrang
Investment & Trading Company Private Limited, Non Trade Exports Private
Limited, Rajasthan Capsules Private Limited, Surya Capsules Private Limited,
Aries Components Manufacturing Private Limited and Western India
Pharmaceuticals Services Private Limited (Seven Transferor Companies) with the
company with retrospective effect from 01.04.2003. The financial statement of
the demerged capsules manufacturing business and seven transferor companies
have been incorporated in the current financial statement of the company. This
includes recasting the opening balances of the company to incorporate the
figures of the capsules manufacturing business and seven transferor companies.
Merger
The company has filed an application with the High Court for
merger of ACPL with seven other small Finance Companies and the Merger of
Capsules business demerged out of UCPL. This application is filed on 11th
August 2004 and the amalgamation date was 31st March, 2003 and
Demerger Date was 1st April, 2003.
Common
Group Logo
The company has finalised the Common Group Logo and has
introduced the same across the Group Cos., to build up the company Image and
Identify to had synergy benefits in the market both at Domestic and
International Market.
It is in trade terms with:-
v Ameija Enterprises
v AVS Enterprises
v Avadhoot Paper Products
v ID Technologies Ambika Engineering
Works
v Multifilm Plastics
v Protocontrol
v Primepack Containrs
v Suyash Industries
v Udit Packaging
v Lead Edger Papers
v ABM Enterprises
v Asian Electronics Limited
v Udit Packaging Private Limited
v M-Con Engineering Systems Private
Limited
v Roha Dyechem Private Limited
v Colorcon Asia Private Limited
v Anuradha Plas & Tex Industries
v Parekh Packaging
v Neelikon Food Dyes & Chemicals
v Narayan Packaging
v Sejal Plastics
v Sterling Gelatin
Fixed Assets:
Land, Buildings, Plant & Machinery, Vehicles, Furniture
/ Fixtures, Speed Boat & Office Equipments.
As Per Website
Profile
ACG Worldwide is serving the pharmaceutical
industry for four decades. They are one of the largest manufacturers of hard
gelatin capsules in the world. Comprising of ten group companies including
subsidiaries in USA and Indonesia, ACG Worldwide has manpower strength of over
2700.
ACG Worldwide provides world-class technology,
the complete package of solutions - from empty capsules to granulation and
coating, to capsule filling, packaging films, blister packing and carton
packing. Their products are exported to over 65 countries and they have
installed over 12,000 machines worldwide. They have set high standards of
quality, with most of their group companies acquiring major international quality
certifications.
ACG Worldwide is committed to Research and
Development for continuous delivery of innovative solutions. Their research
teams continuously strive to develop innovative technology to offer their
customers the competitive edge.
SciTech Centre, the group's 50,000 sq. ft. R
& D Center in the heart of Mumbai, is a government recognized research
institution. Over the last 25 years, it has been actively engaged in research
in the areas of dosage form development including controlled release,
pharmaceutical engineering, veterinary and agricultural research, particularly
in delivery systems.
Awards and
Recognitions
ACG Worldwide has become a name to reckon with
in the pharmaceutical industry in a time span of forty years due to a team
effort. Various organizations have conferred various awards & recognitions
upon us. ACG Worldwide is headed by distinguished personalities & any
recognition received by them is an award for ACG equally.
ACG Worldwide received the OPPI Best vendor
Company award for their contribution towards saving a good amount of foreign
exchange for India.
UK's topmost capsule manufacturing company
Leiner Group visited the Kandivali plant to purchase its requirements for
special purpose equipment for counting, packing & handling soft gelatin
capsules. "You have something to be proud of" were his words on
visiting the plant.
ACG Worldwide has been a frequent recipient of
'Best Employer' award from the Maharashtra government.
The President of India lauded their efforts for
incorporating physically challenged and under privileged persons into their
organization. They were conferred the 'Outstanding Employer' award for the
physically challenged.
The company's management was invited by the
government to make a special presentation on employment policies at the
Tripartite Labour Conference at Delhi consisting of public sector heads, union
leaders & the government. It was rare honour for a private sector company.
Partners
and Alliances
"In this new wave of technology, you can't
do it all yourself, you have to form alliances."
- Carlos Slim Helu,
Mexican businessman, third richest in the world.
Glatt, IWKA, Honeywell, Brimrose, Alcan, Sarong,
Proditec, Volpak are the eight companies they have formed partnership &
alliances with. All established companies in their own right; they have
contributed immensely to the value addition of ACG Worldwide. They act as
representatives of these global players in the pharmaceutical industry in
India, in a bid to make India proud on the world map.
Glatt
Fluidized bed systems is the pioneering product
of Glatt.
IWKA
Suppliers of systems and machines for
pharmaceutical industry, IWKA the biggest name in many other verticals too.
Honeywell
Aclar film, the star product of Honeywell is the
key ingredient in blister packaging.
Brimrose
The final product quality check is facilitated
due to PAT(Process Analytical Technology). A technology developed by Brimrose.
Alcan
Packshield is the alliance formed with Alcan,
that aids in packaging of the various products.
Sarong
Sarong is a leading name in the machinery
manufacturing & packaging materials industry.
Proditec
Their inspection systems products have helped in
sorting & measurement of capsules.
Volpak
They are specialists in designing and manufacturing
machines for flexible packages, cartoners and case packers.
News
ACG Worldwide
participates in Pharmtech 2006
ACG Worldwide participated in Pharmtech Moscow,
an exhibition held in Moscow, Russia from 20 – 23rd November 2006.
A range of engineering & consumable products
that included Blister packing, capsule filling machines and different types of
Capsules and Packaging films was displayed in this exhibition.
Legacy 6100 – the futuristic tabletting machine
from Pam was inaugurated in grand style. The exhibition was a grand success
TROPAC wins the
PACMACHINE 2006 award
Tropical Blister Packing machine – TROPAC, from
Pampac Machines Private Limited won the PACMACHINE 2006 award.
The award function organized by the Indian
Institute of packaging in the Leela Kempenski Hotel, Mumbai on 13th December
2006. The eminent jury for judging the entries consisted of Dr. S. D. Awale –
Director NITIE, Mr. K. Murari – Addl. Director ERTL, Dr. K. G. Narayankhedkar –
Director, VJTI & Mr. Rajeev Dhar – Director IIP.
Mr. Sandeep Kulkarni, VP - Pampac is seen
receiving the award.
ACG Worldwide
participates in Indiapack 2006
ACG Worldwide now caters to many sectors and
businesses other than Pharmaceuticals. It participated in a non-pharma
exhibition for the first time in Indiapack 2006. The exhibition was held in
Mumbai, India from 11 – 14th December 2006.
On the display were the various barrier and
flexible packaging films, online check weigher, special purpose cartooning
machine “AT – Pac” and various samples of ranging from blisters & cartons
to pouches showing our capability.
It won the second prize for “Technology in
Packaging” at the Indiapack show for the machines exhibited in the stall.
PAM Pharmaceutical & Allied Machinery
Company Limited
127, Kandivli Industrial Estate, Kandivli
(West), Mumbai - 400 067, India.
Tel. No. : 91-22-2868 2650 / 2868 9109
Fax No. : 91-22-2868 3091
E-mail. : sales.pam@acg-world.com
Pam-Pac Machines Private Limited
127, Kandivli Industrial Estate, Kandivli
(West), Mumbai - 400 067, India.
Tel. No. : 91-22-2868 2650 / 2868 9109
Fax No. : 91-22-2868 3091
E-mail. : sales.pampac@acg-world.com
Pam Glatt Pharma Technologies Private Limited
Sr. No. 14,16, Jankar Estate, J. M. Compound,
Mira - Bhayandar Rd., Kashimira, Thane District - 401 104, India.
Tel. No. : 91-22-2811 7770
Fax No. : 91-22-2811 7778
E-mail. : pamglatt@acg-world.com
Packshield
7, Prabhat Nagar, Jogeshwari (West), Mumbai -
400 102, India.
Tel. No. : 91-22-2679 1955 / 2678 9642
Fax No. : 91-22-2678 3244
E-mail. : sales.packshield@acg-world.com
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. 44.09 |
|
UK Pound |
1 |
Rs. 86.59 |
|
Euro |
1 |
Rs. 57.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP
CAPITAL |
1~10 |
7 |
|
OPERATING
SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT
LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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 |