MIRA INFORM
REPORT
|
Report
Date : |
04.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
USHODAYA
ENTERPRISES LIMITED |
|
|
|
|
Registered
Office : |
Enadu
Compound, 6-3-570, Somajiguda, |
|
|
|
|
Country
: |
|
|
|
|
|
Financials
(as on) : |
31.03.2006 |
|
|
|
|
Date
of Incorporation : |
12.08.1974 |
|
|
|
|
Com.
Reg. No.: |
01-1763 |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U99999AP1973PTC001763 |
|
|
|
|
TAN
No.: [Tax
Deduction & Collection Account No.] |
HYDU00425F |
|
|
|
|
PAN
No.: |
AAACU2690P |
|
|
|
|
Legal
Form : |
A closely held Public Limited Liability Company. |
|
|
|
|
Line
of Business : |
Engaged
in as Newspaper Publisher. It is also engaged
in as Manufacturers of pickles, spices and mango bars. |
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
9100000 |
|
|
|
|
Status
: |
Satisfactory
|
|
|
|
|
Payment
Behaviour : |
Usually
Correct |
|
|
|
|
Litigation
: |
Clear |
|
|
|
|
Comments
: |
Subject is a well established and diversified company,
promoted by financials strong promoters. Available information indicates high
financials responsibility of the company. Trade relations are fair. Profit
margin is under severe pressure. 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/
Corporate Office : |
Enadu
Compound, 6-3-570, Somajiguda, |
|
Tel.
No.: |
91-40-2331
8181 |
|
Fax
No.: |
91-40-2331
8555 |
|
E-Mail
: |
|
|
Website
: |
|
|
Telex
: |
0425-6521
USHA IN |
|
Area : |
6 storied |
|
Location : |
Rented |
|
|
|
|
Head
Office : |
B-493,
Industrial Estate, |
|
Tel.
No.: |
91-836-2331697/
2335971/ 4252697 |
|
Fax
No.: |
91-836-2331698 |
|
|
|
|
Factory
: |
Plot
No.A1/1 (Part), Block No.3, IDA, Uppal, Hyderabad-500082, |
|
Tel.
No.: |
91-40-27200351/
27720354/ 23220446/ 232200440/ 232200421/ 55666638 |
|
Fax
No.: |
91-40-27200248/
23220487 |
|
|
|
|
Factory
2 : |
(Priya Foods
Division) D.
No.3-5-907/2, Unit Nos. 101 and 102, Mahaveerlok complex, Himalayathnagar,
Hyderabad-500029, Andhra Pradesh, India |
|
Tel.
No.: |
91-40-23220446/
23220421 |
|
Fax
No.: |
91-40-23220487 |
|
E-Mail
: |
|
|
|
|
|
Branches
: |
Publishing Units: Ø Ø Vizag Ø Vijaywada Ø Tirupathi Ø Ø Anantapur Ø Karimnagar Ø Ø Suryapet Ø Ø Ø Srikakulam Ø Ø Tadepalligudem Ø Ø Cuddapah Ø Nizamabad Ø Ongole Ø Mahbubnagar Ø Khamam Printing Centre : Ø Ø Chennai Ø Mumbai Ø |
|
|
|
|
Branches
: |
Priya Food Division |
|
Address: |
Eenudu Complex, Somajiguda, Tel. No.: 91-40-23323717/ 23324727 Fax No.: 91-40-23393640 Poranki, Vijaawada – 521 137, |
|
|
|
|
Branches:
|
For Export and Edible Oils |
|
Address: |
D. No. 3-5-907/2, Unit Nos. 101 and 102, Mahaveerlok
Complex, Himayath Nagar, Hyderabad- 500 029, Andhra Pradesh, India |
|
Tel.
No. : |
91-40-23220446/ 23220421 |
|
Fax
No. : |
91-40-23220487 |
|
|
|
|
Branches:
|
Eenadu Television Division : |
|
|
|
|
Branches: |
Entertainment Division : |
|
|
|
DIRECTORS
|
Name : |
Mr. Ramoji Rao |
|
Designation
: |
Chairman and Editor |
|
|
|
|
Name : |
Mr. C H Kiron |
|
Designation
: |
Managing Director |
|
|
|
|
Name : |
Mr. I. Venkat |
|
Designation
: |
Whole Time Director |
|
|
|
|
Name : |
Mr. Cherukuri Suman |
|
Designation
: |
Managing Director |
|
|
|
|
Name : |
Mr. M. V. Muthu |
|
Designation
: |
Director – Nominee IFCI |
|
|
|
|
Name : |
Mr. M. Appa Rao |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. A. Krishna Murthy |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. M. Narasimhulu |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. A. Ramamohana Rao |
|
Designation
: |
Director |
|
|
|
|
Name : |
Mr. T. Ramesh Babu |
|
Designation
: |
Director (Nominee of IFCI Limited from 14.12.2002 to
05.12.2003) |
KEY
EXECUTIVES
|
Name : |
Mr. G. Srinivas |
|
Designation
: |
Company Secretary |
|
|
|
|
Name : |
Mr. K V Kishore |
|
Designation
: |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. M Ramesh |
|
Designation
: |
Assistant General Manager Exports |
|
|
|
|
Name : |
Mr. Ganapthi Subramanian |
|
Designation
: |
Manager Quality Control |
BUSINESS
DETAILS
|
Line
of Business : |
Engaged in
as Newspaper Publisher. It is also
engaged in as Manufacturers of pickles, spices and mango bars. |
|
|
|
|
Products
: |
Picklels, Spices, Sweet Pickles, Spice Powders, Masala
Powders, Curry Masala Powders, Traditional Masala Pastes, Spice Powders, Culinary
Pastes, Instant Mixes, Mango Pulp, Edible Oils, Pulhora Paste and Papads |
|
|
|
|
Trade
Names : |
Priya, Sona |
|
|
|
|
Exports
to : |
USA, UAE, Australia, Canada, West Indies, Saudi Arabia,
Kuwait, Bahrain, Qatar, Oman, Malaysia, UK and Newzealand |
|
|
|
|
Imports
from : |
|
|
|
|
|
Terms
: |
|
|
Purchasing : |
Secured terms. |
PRODUCTION STATUS
|
Particulars |
Unit |
|
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Publication
Division |
Copies |
|
15.83 |
-- |
|
Other
Divisions |
Copies |
|
-- |
-- |
|
Newspaper
|
Copies |
|
-- |
92814.06 |
|
Pickles
and Spices |
Kgs. |
|
-- |
44.38 |
|
Mango
Pulp |
Kgs. |
|
-- |
24.01 |
|
Dairy
Products |
Lts. |
|
-- |
1.92 |
GENERAL
INFORMATION
|
No. of
Employees : |
626 |
||||||||||||
|
|
|
||||||||||||
|
Bankers
: |
˜
Union Bank of ˜
State Bank of ˜
UTI Bank Limited, |
||||||||||||
|
|
|
||||||||||||
|
Bankers
: |
|
||||||||||||
|
|
|
||||||||||||
|
Bankers
: |
|
||||||||||||
|
|
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
||||||||||||
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
Brahmayya
and Company Chartered Accountants |
|
Address
: |
403 and 404, Golden Green Apartments, Erramanzil Colony, |
|
|
|
|
Membership
: |
HACCP,
Spices Board of |
|
|
|
|
Associates
: |
“EENADU GROUP”: Ø
Ushakiran Movies Limited. Ø
Dolphin Hotels Limited Ø
Margadai Chit Fund Limited Ø Colorama Printers Private Limited. Ø Margadarsi Marketing Private
Limited Ø Priya Foods Private Limited Ø Suman Advertising Private Limited Ø Margadarsi Housing Private Limited Ø Margadarsi Investment and Leasing
Company Private Limited |
CAPITAL
STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs. 100/- |
Rs. 1250.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
Rs.100/-
|
Rs. 9.500 millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
9.500 |
9.500 |
9.500 |
|
|
2] Share Application
Money |
1181.950 |
1181.950 |
1059.450 |
|
|
3]
Reserves & Surplus |
1100.235 |
532.272 |
1206.354 |
|
|
4] Profit
and Loss Account |
0.000 |
0.000 |
(583.333) |
|
NETWORTH
|
2291.685 |
1723.722 |
1691.971 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
1325.717 |
1065.912 |
857.694 |
|
|
2]
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
TOTAL
BORROWING
|
1325.717 |
1065.912 |
857.694 |
|
|
|
|
|
|
|
TOTAL
|
3617.402 |
2789.634 |
2549.665 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
2175.921 |
1895.870 |
1873.773 |
|
Capital Work in Progress
|
67.316 |
74.914 |
83.187 |
|
|
|
|
|
|
|
INVESTMENT
|
0.169 |
0.165 |
39.679 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
754.457
|
462.091
|
562.091
|
|
|
Sundry Debtors
|
1492.297
|
1072.681
|
914.403
|
|
|
Cash & Bank Balances
|
470.442
|
254.065
|
166.692
|
|
|
Other Current Assets
|
178.850
|
107.485
|
107.432
|
|
|
Loans & Advances
|
155.984
|
143.250
|
91.116
|
Total Current Assets
|
3052.030
|
2039.572 |
1841.734
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
1693.258
|
1241.069
|
1302.816
|
|
|
Provisions
|
0.000
|
0.000
|
0.000
|
Total Current Liabilities
|
1693.258
|
1241.069
|
1302.816
|
|
Net
Current Assets
|
1358.772
|
798.503 |
538.918
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
15.224 |
20.182 |
14.108 |
|
|
|
|
|
|
|
TOTAL
|
3617.402 |
2789.634 |
2549.665 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales
Turnover |
7438.205 |
5578.197 |
4782.842 |
|
|
Other Income |
83.397 |
47.972 |
|
|
|
Total
Income |
7521.602 |
5626.169 |
4782.842 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
587.263 |
(91.779) |
22.334 |
|
|
Provision for Taxation |
0.000 |
0.000 |
(560.999) |
|
|
Profit/(Loss) After Tax |
587.263 |
(91.779) |
583.333 |
|
|
|
|
|
|
|
|
Total
Earnings |
NA |
NA |
138.619 |
|
|
|
|
|
|
|
|
Total
Imports |
NA |
NA |
729.638 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
443.578 |
174.889 |
|
|
|
Raw Material Consumed |
1841.840 |
1578.729 |
|
|
|
Increase/(Decrease) in Finished Goods |
(36.428) |
(7.030) |
|
|
|
Salaries, Wages, Bonus, etc. |
552.518 |
488.008 |
4760.508 |
|
|
Depreciation & Amortization |
408.714 |
366.230 |
|
|
|
Other Expenditure |
3722.279 |
3104.299 |
|
|
Total
Expenditure |
6932.501 |
5705.125 |
4760.508 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT /
Total Income |
(%) |
7.81
|
(1.63) |
12.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.81
|
(1.63) |
0.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.23
|
(2.33) |
0.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
(0.05) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.32
|
1.34 |
1.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.64 |
1.41 |
LOCAL
AGENCY FURTHER INFORMATION
The company’s Fixed Assets of important value includes:
Ø Land
Ø
Ø
Ø Plant and Machinery
Ø Lab Equipment
Ø Live Stock
Ø Electrical Equipment
Ø Furniture and Fixtures
Ø Office Equipment
Ø Air Conditioners
Ø Vehicles
Ø Library
Ø Temporary Sheds
Website Details :
Client satisfaction, superlative quality
products and introduction of innovative and advanced products are some of the
factors that determine the worth of a corporate entity. Perfect Actuators & Controls Private Limited is an ISO 9001:2000 certified firm, which is
a distinguished name in the arena of valve gear operators and actuators due to
its strict adherence to the above mentioned parameters. They are a leading and
renowned manufacturer and exporter
of Quarter/half turn Worm Gear
Operators/Actuators of worm and worm wheel mechanism under the brand
name, ''PAC''.
Established in 1992, their extensive experience
in this industry and burning desire to excel in developing advanced and
improved products has led to the goodwill of their corporate entity amongst
their eminent clients. It is due to their trust and support that They have
successfully crossed every corporate challenge. As a result, They have asserted
their position in this domain, encompassed with fierce competition. Besides,
their principles of hard work, commitment towards customers and honest trade
practices have helped them to strengthen their bond with their customers, who
remain the top priority for them.
Their gear operators are of robust design, using low mechanical stress levels
to provide years of trouble free service. These are sophisticated and are
designed in such a manner that they effectively serve the purpose of several industries
including offshore, petroleum, chemical, gas pipeline and sub-sea. Taking into
account their wide usage, They provide extra accessories viz. Limit and
Proximity Switch Arrangement, Padlock Arrangement and Chain Wheel, along with
them. Besides, these actuators are also provided for buried services purpose
and can also be coupled with an adaptor for mounting electrical actuators. They
are a renowned manufacturer and exporter of the products enlisted below:-
Quarter Turn/Half Turn
Worm Gear Actuators (ranging from 245 Nm to 41188 Nm)
Manually Operated
Quarter Turn Gear Actuators
Multi Turn Bevel Gear
Actuators (ranging from 120 Nm to 9000 Nm)
Manual
Over-Ride/De-Clutching Gear Actuators (ranging from 100 Nm to 9800 Nm)
Their Infrastructure
They are backed by a state-of-the-art infrastructure, comprising of
ultra-modern equipments as well as qualified and acumen professionals. These
ensure smooth operations of their corporate entity and help them to explore new
and undiscovered horizons in this industry. In order to ascertain the best
results from them, appropriate measures are observed by them. These include
periodic lubrication of their machineries and regular training sessions for
their employees. This helps them to stay a step ahead of their contenders and
assert their individuality amidst the contenders involved in the same business.
Quality
They do not compromise on the quality of their products and upgrade it from
time to time. Their gear operators/actuators are tested for their ingress
protection by the Government Agencies, C.P.R.I. and ETDC, Chennai. Besides,
They conduct rigorous quality checks at every level, right from the initial
manufacturing stage till the attainment of final product, ready for dispatch.
This helps them to deliver authentic and flawless products to their final
destination, leaving no room for customer's regrets.
Their Certifications and Memberships
They are privileged to possess the most prestigious certifications and
memberships of various renowned organizations enumerated below:-
v ISO 9001:2000, certified
by RWTUV
v Credit Rating of SE2C by
the Duns & Bradstreet Information Services India Private Private Limited
v Karnataka Chamber of
Commerce & Industries, Hubli
v
v Export Promotion
Council, Hubli
v The National Small
Industries Corporation Private Limited
Their Clientele
They are associated with some of the most reputed domestic as well as overseas
companies as a part of their huge customer base including:-
Domestic Clients
Advance Valves Group, Noida
BDK Group of Companies, Hubli
Audco India Private Limited, Kancheepuram
Bonomi Belgium Ventiel India Private Limited,
Vaas Industries Private Limited, Chennai
Intervalve (
Microfinsih Valves Private Limited, Hubli
Rotork Controls (
Sri Ranganathar Industries Private Limited,
Steel Strong International, Thane
Tyco Valves & Controls Private Limited,
Maghasar
Warman International India Private Limited,
Steel Strong Valves India Private Limited,
Mumbai.
International Clientele
Bisan Trading & Indl. Services Inc.,
Dansk
Erhard Armaturen,
Flowtech Controls Private Limited,
Pipe Line Controls,
Flow
The Supply Line
Priya Foods is one of the fastest growing FMCG - Food brand and one of
the largest exporters of packaged foods in
Launched in 1980, Priya pickles
now come in an awe-inspiring range of 32 different flavours, most of them
offered in both garlic and non-garlic versions. In view of customers' taste of
pickles in northern
Catering to the present day needs and hectic lifestyle of the customer, Priya has launched the Ready-to-Eat
food products in a range of popular traditional recipes offering a great
convenience. The range consists of - Dal Makhani, Navaratan Kurma,
Palak Paneer, Paneer Butter Masala, Punjabi Chhole, Rajma Masala along with
true southern delicacies like Andhra Veg Pulav, Mango Dal, Gongura Dal.
For the first time in
The demand for Priya's products is growing every
day, crossing all geographical boundaries. The mouth-watering taste of Priya's
range of food products finds a place in the heart of millions of families,
worldwide and this made Priya a household name known for delicious products
made under hygienic conditions and stringent quality standards that's only
possible at home.
Priya has a vast countrywide distribution network to
ensure that every one, even in the remotest corners of the country, enjoys the
great taste of Priya.
Priya crossed the frontiers in making its products
available across the globe. Today, Priya's products
are available in
Research & Development team constantly strives for development of new
products as well as enhancement of existing ones in regard to quality, cost
effectiveness, shelf life, and consumer satisfaction. To ensure primacy of
quality as per the expectation of consumers, the feedback information is
collected, thoroughly analyzed and appropriate modifications in the products
and processes are carried out from time to time.
Priya's state-of-the-art manufacturing facility at
|
Priya Pickles Regular |
Amla, Bitterguard (Karela), Brinjal, Citron,
Coriander, Cut Mango, Drum Stick, Garlic, Ginger, Gongura, Gongura Onion,
Gongura-Red Chilli, Green Chilli, Green Tamarind, Green Tamarind-Red Chilli,
Lime, Lime-Ginger, Mango, Mango Ginger, Mango Thokku, Mixed, Pearl Onion, Red
Chilli, Tender Mango, Tomato. |
|
Priya Sweet Pickles |
Jaggery Mango, Sweet Garlic, Sweet Ginger,
Sweet Mango Chutney. |
|
Priya Gujarati Sweet Pickles |
Chhundo, Gorkeri, Katki. |
|
Delight Pickles (available in domestic
market) |
Amla, Cut Mango, Ginger, Gongura, Gorkeri,
Green Chilli, Jaggery Mango, Lime, Mango, Mango Ginger, Mango Thokku, Mixed,
Red Chilli, Sweet Mango Chutney, Tomato. |
|
Ramya Pickles (available in domestic
market) |
Green Chilli, Lime, Mango, Mixed. |
|
Priya Spice Powders |
Chilli, Coriander, Cumin, Mustard, Pickle
Chili, Turmeric. |
|
Ramya Spice Powders (available
in domestic market) |
Chilli, Coriander, Cumin, Turmeric. |
|
Culinary Pastes |
Garlic, Ginger, Ginger Garlic, Tamarind. |
|
Masala Powders |
Garam Masala, Rasam, Sambar. |
|
Masala Pastes |
Biryani Masala, Non-veg. Curry Masala, Veg.
Curry Masala. |
|
Curry Masala Powders |
Biryani Masala, Chicken Masala, Fish Masala, Meat
Masala, Veg. Curry Masala. |
|
Traditional Powders/ Pastes |
Curry Leaf Powder, Idli Karam, Kandi Podi,
Kura Karam, Nalla Karam, Nuvvula Podi, Pulihora Paste, Verusenaga Podi. |
|
Instant Mixes |
Dahi Vada, Dosa, Gulab Jamun, Idli, Jilebi, Kheer,
Pesarattu, Rava Dosa, Rava Idli, Upma, Utappam, Vada. |
|
Papads |
Garlic Onion, Punjabi Masala, Red Chilli, Urad
Moong, Urad Plain, Urad Special. |
|
Special Papads (available in domestic
market) |
Punjabi Masala, Red Chilli, Urad Plain. |
|
Edible Oils (available in domestic market) |
Rice Rich Oil, Double Filtered Groundnut Oil,
Refine Sunflower Oil, Palm Rich Oil, Refined Vegetable Oil, Til Rich Oil,
Preetam Coconut Oil. |
|
Fruit Products |
Priya Palm Kernels, Soma Mango Pulp. |
|
Ready To Eat Foods(available in domestic
market) |
Andhra Veg Pulao, Dal Makhani, Gongura Dal,
Mango Dal, Navratan Kurma, Palak Paneer, Paneer Butter Masala, Punjabi
Chhole, Rajma Masala. |
|
Ready To Eat Foods (available in Export
market) |
Andhra Veg Pulao, Dal Makhani, Gongura Dal,
Mango Dal, Navratan Kurma, Palak Paneer, Paneer Butter Masala, Punjabi
Chhole, Rajma Masala, Vulva Charu , Madras Sambar ,Bhindi Do Piaza , Mutter
Paneer, Palak Dal. |
CMT
REPORT (Corruption, Money Laundering & Terrorism]
The Public
Notice information has been collected from various sources including but not
limited to: The Courts,
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.40.47 |
|
|
1 |
Rs.80.28 |
|
Euro |
1 |
Rs.54.43 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
49 |
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 |
|