MIRA
INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
AARKAY FOOD PRODUCTS LIMITED |
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Registered Office : |
35, 3rd Floor, City Centre, C G Road, Near Swastik Cross Road,
Navrangpura, Ahmedabad-380009, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.03.1987 |
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Com. Reg. No.: |
009464 |
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CIN No.: [Company
Identification No.] |
U15131GJ1987PLC009464 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA02226A |
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Legal Form : |
A Closely Held Public Limited
Company |
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Line of Business : |
Manufacturers of Food Colours and Food Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 115235 |
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Status : |
Satisfactory |
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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 having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
35, 3rd Floor, City Centre, C G Road, Near Swastik Cross
Road, Navrangpura, Ahmedabad- 380
009, Gujarat, India |
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Mobile No.: |
91-9925004139 |
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E-Mail : |
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Website : |
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Factory: |
Block No.634,
Village Rakanpur, Taluka Kalol, District – Mehsana, Gujarat, India |
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Tel. No.: |
91-2764-286513 |
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Fax No.: |
91-2764-286509 |
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Area: |
2308 Sq.mtrs. |
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Location: |
Owned |
DIRECTORS
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Name : |
Mr. Ravi Kapoor |
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Designation : |
Director |
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Address : |
22, Goyal Terrace, Near Judges Bunglow, Premchandnagar Road,
Vastrapur, Ahmedabad – 380 054, Gujarat, India |
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Date of Birth: |
28.07.1954 |
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Date of Appointment : |
09.03.1987 |
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Name : |
Mr. Anil Kapoor |
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Designation : |
Director |
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Address : |
B 31, Akash Tower, Near Judges Bunglow, Premchandnagar Road,
Vastrapur, Ahmedabad – 380 054, Gujarat, India |
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Date of Birth: |
22.06.1958 |
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Date of Appointment : |
15.10.1987 |
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Name : |
India Shashi K. Kapoor |
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Designation : |
Director |
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Address : |
B 31, Akash Tower, Near Judges Bunglow, Premchandnagar Road,
Vastrapur, Ahmedabad – 380 054, Gujarat, India |
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Date of Birth: |
13.10.1959 |
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Date of Appointment : |
09.03.1987 |
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Name : |
Mrs. Saroj M. Kapoor |
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Designation : |
Director |
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Address : |
B 51, AkashTower, Near Judges Bunglow, Premchandnagar Road, Vastrapur,
Ahmedabad – 380 054, Gujarat, India |
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Date of Birth: |
08.01.1952 |
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Date of Appointment : |
01.03.1997 |
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Name : |
Mr. K V Shah |
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Designation : |
Director |
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Address : |
S 31, Satellite Complex, Premchandnagar Road, Vastrapur, Ahmedabad –
380 054, Gujarat, India |
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Date of Appointment : |
09.03.1997 |
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Name : |
Mr. Vithaldas kunjkumar shah |
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Designation : |
Director |
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Address : |
C-63, Century towers, opposite samkit bungalows, bodakdev,
Ahmedabad-380054, Gujarat, India |
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Date of Birth: |
25.09.1940 |
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Date of Appointment : |
09.03.1997 |
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Name : |
Mr. Ashok Nandlal Hingorani |
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Designation : |
Director |
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Address : |
B-901, Agrawal Apartment, B/H Madhur Hall, Near Anand Nagar, Char
Rasta, Satellite, Ahmedabad-380015, Gujarat, India |
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Date of Birth: |
19.10.1959 |
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Date of Appointment : |
01.01.2008 |
KEY EXECUTIVES
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Name : |
Mr. Abhishek Kapoor |
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Designation : |
Sales and Marketing Executive |
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Mobile No.: |
91-9925004139 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Mr. K C Kapoor |
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1880 |
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Mr. Shashi K. Kapoor |
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42470 |
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Mr. Ravi Kapoor |
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82060 |
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Mr. Kunjkumar Shah |
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21500 |
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Mrs. Saroj Kapoor |
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116450 |
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Mrs. Geetaben Shah |
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32750 |
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Mrs. Vimmi S. Kapoor |
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63230 |
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Mr. Anil Kapoor |
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57740 |
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Mr. Chand Kapoor |
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91500 |
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Ms. Sunita R. Kapoor |
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26500 |
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Ms. Roma Kapoor |
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55000 |
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Mr. Prakash N. Hingorani |
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3200 |
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Ms. Anjuben Chopra |
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1000 |
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Mr. Kishor N. Hingorani |
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3600 |
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Mr. Prakash N. Purohit |
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3700 |
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Mr. Vinod Chopra |
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2000 |
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Mr. Manoj Kapoor |
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3000 |
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Mr. Ashok Hingorani |
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43700 |
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Mrs. Nirmala Baheti |
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2000 |
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Mr. Shashi Harani |
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2000 |
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Ms. Hemlata Saijani |
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2000 |
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Mrs. Neelam L. Agarwal |
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2000 |
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Mr. Ankit K. Shah |
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17250 |
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Mr. Vijay Khanna |
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17700 |
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Kautilya Tech. Private Limited |
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20000 |
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Mr. Sanjay Chopra |
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1650 |
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Mr. Ranjit Chopra |
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2800 |
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Mr. Rakesh Chopra |
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950 |
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Mr. Asudomal Hukamtani |
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3000 |
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Mr. Chirag Shah |
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7000 |
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Ms. Kiran A Hingorani |
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20430 |
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Mr. O P Kinger |
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24440 |
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Mr. Amar A. Gurnani |
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1000 |
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Mr. B.K Sahgel |
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500 |
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Mr. Babulal A Shah |
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1250 |
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Mr. Chandra Kant M. Vaghela |
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1000 |
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Mr. Chandrakant N. Hingorani |
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2200 |
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Mr. Harish G Hingorani |
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1000 |
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Mr. Ishwar Dholani |
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1000 |
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Ms. Jayshree M Shah |
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1000 |
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Mr. Kalpesh Shah |
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750 |
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Ms. Kamal N. Hukumtani |
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1000 |
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Ms. Komal Hingorani |
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5000 |
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Ms. Komal S. Goplani |
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1000 |
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Mr. Lopa A Shah |
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3200 |
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Mr. Mahesh S Hukamtani |
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1000 |
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Mr. Mukesh Shah |
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1000 |
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Mr. Navlram S Hukumtani |
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1000 |
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Mr. Prakash Kinger |
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1000 |
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Ms. Punam V Radhidani |
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1000 |
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Mr. Rajesh Hukumtani |
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1000 |
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Mr. Raj Kumar R Rajput |
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1200 |
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Mr. Rakesh Kinger |
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1000 |
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Mr. Ramesh Hukumtani |
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1000 |
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Mr. Saurabh Majmudar |
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900 |
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Ms. Saraswati N. Hingorani |
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14500 |
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Mr. Samir Patel |
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4500 |
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Mr. Shrichand V Jaishwani |
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1000 |
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Mr. Sunil Kinger |
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1000 |
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Mrs. Vimalaben B. Shah |
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1000 |
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Mr. Virendra Chopra |
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1000 |
List of Allotees as on 31.03.2008
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Names of Shareholders |
No. of Shares |
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Ms. Payal Kapoor |
2500 |
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Ms. Khushboo. R. Kapoor |
10000 |
Equity Share Break Up as On 29.09.2007
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Particulars |
Percentage |
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Directors or Relatives of Directors |
100.00 |
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Total: |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Food Colours and Food Products. |
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Products : |
·
Caramel Colour ·
Natural Food Colours ·
Spray Dried Powders ·
Herbal Products ·
Instant Food Products |
GENERAL
INFORMATION
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Bankers : |
Bankers: ·
Corporation Bank, Rangoli Complex Opposite V.S Hospital, Ellisbridge, Ahmedabad-380006,
Gujarat, India ·
Standard Chartered Bank ·
ICICI Bank ·
Canara Bank ·
Vishakha Bank |
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Financial
Institutions: |
Maruti Countrywide A F S Limited |
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Facilities : |
CC Rs. 9.000 millions (Corporation Bank) PCL- cum-FDBN/FDBP Rs.(2.000) millions (Corporation Bank) DBC/LDBC/BDD/LBDD Rs. 0.500 million (Corporation Bank)
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Baheti Bhadada and Associates Chartered Accountants |
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Address : |
201, Shaily Complex, Opposite Loha Bhavan, Ashram Road, Ahmedabad –
380 009, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
7.000 |
7.000 |
7.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.047 |
13.179 |
12.992 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
23.047 |
20.179 |
19.992 |
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LOAN FUNDS |
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1] Secured Loans |
9.035 |
12.395 |
12.240 |
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2] Unsecured Loans |
3.904 |
3.738 |
3.988 |
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TOTAL BORROWING |
12.939 |
16.133 |
16.228 |
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DEFERRED TAX LIABILITIES |
4.492 |
4.273 |
3.987 |
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TOTAL |
40.478 |
40.585 |
40.207 |
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APPLICATION OF FUNDS |
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30.576 |
30.709 |
30.379 |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
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|
0.020 |
0.020 |
0.020 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.102
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8.943 |
8.850
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Sundry Debtors |
4.945
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3.616 |
3.378
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Cash & Bank Balances |
0.171
|
0.204 |
0.380
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Other Current Assets |
0.000
|
0.000 |
0.000
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Loans & Advances |
1.586
|
1.517 |
1.086
|
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Total
Current Assets |
16.804
|
13.694
|
14.280 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
7.107
|
4.700 |
4.043
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Provisions |
0.000
|
0.000 |
0.000
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Total
Current Liabilities |
7.107
|
4.043
|
4.700 |
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Net Current Assets |
9.697
|
9.651
|
9.580 |
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MISCELLANEOUS EXPENSES |
0.185 |
0.205 |
0.228 |
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TOTAL |
40.478 |
40.585 |
40.207 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
36.199 |
33.580 |
22.547 |
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Other Income |
0.000 |
0.018 |
0.020 |
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Total Income |
36.199 |
33.598 |
22.567 |
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Profit/(Loss) Before Tax |
1.722 |
1.556 |
0.554 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
1.722 |
1.556 |
0.554 |
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Expenditures : |
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Raw Material Consumed |
17.493 |
14.466 |
8.445 |
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Increase/(Decrease) in Finished Goods |
(1.252) |
0.092 |
0.000 |
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Salaries, Wages, Bonus, etc. |
2.309 |
1.315 |
1.147 |
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Managerial Remuneration |
1.372 |
1.032 |
0.924 |
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Payment to Auditors |
0.021 |
0.028 |
0.032 |
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Interest |
0.920 |
0.976 |
1.190 |
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Insurance Expenses |
0.228 |
0.245 |
0.161 |
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Power & Fuel |
1.977 |
1.677 |
1.221 |
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Depreciation & Amortization |
2.265 |
2.066 |
1.816 |
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Other Expenditure |
9.144 |
10.145 |
7.077 |
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Total Expenditure |
34.477 |
32.042 |
22.013 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
4.76
|
4.63
|
2.45 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.76
|
4.63
|
2.46 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.62
|
3.50
|
1.24 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08
|
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.06
|
1.00
|
1.05 |
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Current Ratio (Current Asset/Current Liability) |
|
2.36
|
3.39
|
3.04 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
- Plant and
Machinery
- Air
Conditioner
- Lab
Equipments
- Electrical
Equipments
- Furniture
- Electric
Fittings
- Type Writer
- Refrigerator
- Cycle
- Motor Car
- Books
- Office
Building
- Computer
- Factory Land
- Pager
- Factory
Building
- Fire Fighter
Equipments
- Land
- EPABX System
- Fan
FORM 8
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Name of the company |
AARKAY FOOD PRODUCTS LIMITED |
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Presented By |
Shri. R.K. Kapoor,
Director |
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1) Date and description of instrument creating the change |
Memorandum of
deposit of title deed dated 23.05.2002 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 32.000
millions |
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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 |
Equitable
mortgage created by deposit of title deed of immovable property situated at
Block No. 634, Paiki, Rakanpur Tal-Kalol, Dist Mehasana Adm 2308 Sq mtrs and
office situated at T.P scheme no. 6 situated at R. 34-1, 3rd
Floor, Swastika Co-Op, Housing Society Limited, Vill Khanpur Tal And City
Ahmedabad Adm 633 Sq Fts |
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4) Gist of the terms and conditions and extent and operation of the charge. |
First charge is
created on the property mentioned in column no. 3 |
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5) Name and Address and description of the person entitled to the charge. |
Corporation Bank IFB Branch, V.S Hospital,
Ashram Road, Ahmedabad, Gujarat, India |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
|
80027181 |
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Corporate
identity number of the company |
U15131GJ1987PLC009464 |
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Name of the company
|
AARKAY FOOD PRODUCTS LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
35, 3rd Floor, City Centre, C G Road, Swastik Char Rasta,
Navrangpura, Ahmedabad- 380 009,
Gujarat, India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Corporation Bank Industrial
Finance Branch, Ellisbride, Ahmedabad – 380 006, Gujarat, India E-Mail: cb489@corpbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Common deed of
hypothecation of movables/assets/debts |
|
Date of
instrument Creating the charge |
31.03.2007 |
|
Amount secured by
the charge |
Rs. 6.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
(Hypo) 11.00% per annum being 1.50% below Corporation bank bench mark Advance
Rate which is 12.50% per annum as at present, (DBC?BDD) As per the Bank Rules Terms of Payment:
Payable on Demand Margin: As per
sanction Letter Extent and
operation of the charge: To cover the
Entire Facilities |
|
Short particulars
of the property charged |
Entire present and
future stock consisting of RM, WIP, FG, Consumable and Spares etc used
company ‘s line od activity stored in factory premises owned by the company
at Block No. 634, Laxmi Industrial Estate, Ranchhodpura Road, Near Bhadaj,
Ranakpur, Ta. Kalol, Dist Gandhinagar-382721 or at any other place held on
ownership/ lease hold/ tenanacy or any other basis by the borrower co. entire
receivables/ book debts of the company entire movable fixed asset of the
company (except vehicles) |
|
Date of latest
modification prior to the present modification |
16.02.2006 |
|
Particulars of
the present modification |
By this agreement
the limit shall stand reduced from 11.000 millions to 6.500 millions. Detail
break up which shall be as follows: Cash, credit (hypothecation
of stock and BD ) 6.000 millions, DBC/BDD Rs. 0.500 million |
|
Corporate
identity number (CIN) Foreign company registration number |
U15131GJ1987PLC009464 |
|
Name of the
Company |
AARKAY FOOD PRODUCTS LIMITED |
|
Address |
35, 3rd Floor, City Centre, C G Road, Swastik Char Rasta,
Navrangpura, Ahmedabad- 380 009,
Gujarat, India |
|
This form is for |
Modification of
charge |
|
Type of Charge |
A charge on Immovable property |
|
Particulars of
the charge holder |
Corporation Bank Industrial
Finance Branch, Ellisbridge, Ahmedabad – 380 006, Gujarat, India E-Mail: cb489@corpbank.co.in |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Letter of
Continuity |
|
Date of the
instrument creating or modifying the charge |
31.03.2007 |
|
Amount secured by
the charge |
Rs. 6.500
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
(a) Rate of Interest Cash Credit
(Hypo) 11.00% per annum being 1.50% below Corporation bank bench mark Advance
Rate which is 12.50% per annum as at present, (DBC?BDD) As per the Bank
Rules. (b) Terms of
Payment: Payable on Demand (c) Margin: As
per sanction Letter (d) Extent and
operation of the charge: To cover the
Entire Facilities |
|
Short particulars
of the property charged (including location of the property) |
Property situated
at Survey No. Block No. 634 (Paiki) at Rakanpur Village Kalol Taluka Gandhinagar
District of the Extent aggregating to about 2308 sq. mtrs. Plus the
superstructure thereon. |
|
Particular of the
present modification |
By this agreement
the limit shall stand reduced from Rs. 11.000 millions to Rs. 6.500 millions
Detail break up which shall be as follows: Cash Credit
: Rs. 6.000
millions (Hypo. Of Stock
and BD) DBC/BDD: Rs. 0.500 millions |
Website Details
Attached:
Subject was established in the year 1982. They are
leading manufacturer dealing in 100% Natural
Food Products. They have only one mission that is to ladder
their way towards success and become India’s Top most 100% Natural Food Products manufacturer. They are
considered as an entrepreneur who believes in nature friendly production to
create new standards of pure Natural Food Products and to raise them higher
with each endeavor.
In their premises, they manufacture purely natural food colours and instant food
products by using a healthy blend of completely natural
resources and technology. Their range of products is well known for their
global quality standards. As a result of high quality productivity at very
reasonable prices within the specified delivery time they can proudly mention
that they are the single supplier of Natural Food Colours to many prestigious
food industrialists since years.
The organization's commitment to provide Quality Food
Products has won it accolades from one and from all. But their zest for better quality
is the driving force for their regular improvements. Apart from the market
competition, they believe in competing themselves and testing their limits.
This motivation factor encourages them to increase their manufacturing
potentials and to augment them time to time.
Their
incomparable state-of-the-art infrastructure consists a well-equipped and a
high-tech plant to cater to the increased demand for their Products. All these
qualities have positioned them as the all fresh organization and their plant is
absolutely pollution free, which reflects their concern for environment. Now with them the days of chemical
preservatives, artificial flavors and synthetic colours have vanished and the
customers can have the great taste, the pure, fresh and healthy Food Products.
Heritage
When the whole World was struggling to accept the concept of chemical
and synthetic food products, a revolution was taking place in India.
And a revolution it was. In the year 1982 the patriarchs of Ahmedabad,
India based “Kapoor Family” established an Industrial Unit dedicated solely to
finding better Food Product Solutions in a Natural Way. And thus came in to
existence Aarkay Food Products Ltd.
Though a small and a humble Organization, it had dreams and passion to
serve the Country with the very best in Natural Products. The Company began its
early operations by making Caramel and Annatto Colour for various food
industries. During those days both these Colours were like infants with no
guardians to support their upbringing. Those who attempted to could not find
the required technical expertise. In-fact a large chunk of the domestic demand
was being met by importing the Product from other countries.
After relentless dedication and focused R&D, Team Aarkay developed
different grades of Caramel and other Natural Food Colours. These ground
breaking innovations changed the very phase of Food India which relied heavily
on Chemical and Synthetic Products to make its finished Products. And rest as
they say is history.
Year after year after year, Team Aarkay developed different Products
constantly striving to serve its nation and Markets abroad with the very best.
Creating and recreating higher Industry benchmarks with newer and better
innovations. And today subject has become “A House of Natural Food Products”,
serving Products which serve various Industries including yours.
However all is not done for Team Aarkay. Who knows there just might be
another revolution in the making in their R&D Department!!
Research and Development
They constantly endeavour to develop a purposeful
innovation, something that would not only enhance but transform the lives of
their Consumers.
To realize this endeavour they have a well equipped R&D Department and a
dedicated team of Food Technologists who work directly under the leadership of
Organizational heads. This synergic method facilitates a quick and responsive
strategy towards any Market Developments.
Subject was primarily involved in Caramel and Natural Food
Colours. But when their Consumers asked for wider Food ingredient solutions
they couldn’t turn them down.
Their food technologists regularly interact with clients to help them find
their complete food solutions. Infact a lot of their recent Products are
dedicated to their valuable consumers.
Infrastructure
To nurture the spirit of entrepreneurship and further shape their
R&D efforts it was much required to have a supporting Production Facility.
A State of the Art Production facility was established at the outskirts of
Ahmedabad equipped with all the latest machinery. A 3 Phase expansion plan was
carried out to upgrade their technology and Production Capacity. Today the
Company has successfully implemented the expansion plan for its existing
businesses as well as future ventures.
The Company is set to expand its businesses by entering in new Markets
following a Vertical Integration Business Model.
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.42.28 |
|
UK Pound |
1 |
Rs.82.79 |
|
Euro |
1 |
Rs.65.69 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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. |
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 |
|
