MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAM PAC MACHINES PRIVATE LIMITED |
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Registered Office : |
1001/1002,
Dalamal House, 10th floor, Nariman Point, Mumbai – 400021,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.07.1987 |
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Com. Reg. No.: |
11-44041 |
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CIN No.: [Company
Identification No.] |
U27299MH1987PLC044041 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEP00296C |
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PAN No.: [Permanent
Account No.] |
AAACP4134F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of
Blister Packing Machines (BQS, BP-102), Cartoning Machines (CP-150, Hi -
Cart, VCP 40). |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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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 1954305 |
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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 part
of the well-established group of Associated Capsule Group Worldwide engaged in
manufacturing and marketing of Blister Packing and Cartoning Machines. The
Parent Company Associated Capsules Limited is engaged in manufacturing and
marketing of Hard Gelatine Capsules and its Sister Concern. Pam Pharma and
Allied Machinery is manufacturing Capsule filling machine. All these
businesses are interrelated. Subject Company’s last available financials are
enclosed. Since it is a
part of the well-established Associated Capsule Group, it may be considered
for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
1001/1002,
Dalamal House, 10th floor, Nariman Point, Mumbai – 400021,
Maharashtra, India |
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Tel. No.: |
91-22-22872557 |
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Fax No.: |
91-22-28683091 /
22872560 |
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E-Mail : |
milindcs@vsnl.com |
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Factory : |
·
127,
Kandivali Industrial Estate, Kandivali, Mumbai, Maharashtra, India Tel. No: 91-22-28682650/ 28689109 Fax No.: 91-22-28683091 E-Mail:sales.pampac@acg-world.com ·
Talegaon,
Pune, Maharashtra, India Tel. No: 91-2114-237093 Fax No. : 91-2114-237092 Bebadohal, Taluka
– Maval, District – Pune |
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Branches : |
127, Kandivli
Industrial Estate, Kandivali (West),
Mumbai 400067 |
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Tel. No.: |
91-22-28682650/28689109 |
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Fax No.: |
91-22-28683091 |
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E-Mail : |
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Corporate Headquarters: |
Associated Capsules Group, 10th Floor, Dalamal House, Nariman
Point, Mumbai – 400021, Maharashtra, India |
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Tel. No.: |
91-22-22872557/ 58/ 59/ 22880461/ 2/ 3 |
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Fax No.: |
91-22-22872560 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ajit Daljit Singh |
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Designation : |
Director |
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Address : |
A – 1, Brighton Napean Sea Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
20th
November 1941 |
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Date of Appointment : |
16th
November 1988 |
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Name : |
Mr. Jasjit Daljit Singh |
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Designation : |
Director |
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Address : |
2 – B, Swapnalok, Napean Sea Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
03.04.1943 |
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Date of Appointment : |
09.07.1987 |
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Name : |
Mr. Hans Seydel |
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Designation : |
Director |
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Address : |
IWk Verpackungstech Nik GmbH D – 7513, Postfach Stutense Stutensee,
Germany |
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Date of Birth/Age : |
31.07.1942 |
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Date of Appointment : |
09.07.1987 |
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Name : |
Mr. Roland George Merk |
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Designation : |
Director |
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Address : |
Edith – Stein – Weg3A, D – 76327, Pfinztal, Germany |
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Date of Birth/Age : |
10.05.1938 |
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Date of Appointment : |
17.03.1998 |
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Name : |
Mr. Giri Kishor Lall |
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Designation : |
Director |
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Address : |
130 A, Kandivli Industrial Estate, Kandivli [West], Mumbai – 400067,
Maharashtra, India |
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Date of Birth/Age : |
09.06.1920 |
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Date of Appointment : |
01.03.2001 |
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Name : |
Mr. Wolf Dieter Baumann |
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Designation : |
Director |
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Address : |
Isestr. 121, Hamburg 20149. |
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Date of Birth/Age : |
17.09.1957 |
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Date of Resignation : |
31.07.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 09.06.2005
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Names of Shareholders |
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No. of Shares |
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Mr. Jasjit Daljit Singh Mr. Ajit Daljit Singh |
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229 |
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Mr. Ajit Daljit Singh Jasjit Daljit Singh |
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344 |
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Mr. Ajit Daljit Singh |
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229 |
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Mr. Jasjit Daljit Singh Ms. Kavita Jasjit Singh |
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344 |
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Mr. Ajit Daljit Singh Mr. Jasjit Daljit Singh |
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115 |
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Mr. Jasjit Daljit Singh Mr. Ajit Jasjit Singh |
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115 |
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Associated Capsules Private Limited |
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43541 |
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Universal Capsules Private Limited |
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43541 |
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Pam Pharmaceuticals & Allied Machinery Company Private Limited |
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43542 |
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IWK Verpackungstechnick GmbH |
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88000 |
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TOTAL |
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220000 |
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Equity
Share Break-up (As on 18.09.2007) |
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Percentage
of Holding |
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Foreign holdings (Foreign institutional investor(s), Foreign companie(s),
Foreign financial institution(s),Non-residentIndian(s), or Overseas corporate
bodies or Others |
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40.00 |
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Bodies Corporate |
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59.37 |
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Directors or Relatives Of Directors |
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0.63 |
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TOTAL |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of
Blister Packing Machines (BQS, BP-102), Cartoning Machines (CP-150, Hi -
Cart, VCP 40). |
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Products : |
Item Code No. : 842.240.01 Product Description : Blister Packing Machine Item Code No. : 84223000 Product Description : Pharmaceuticals Machinery Cartoning Machines Spares |
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Exports : |
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Countries : |
East Europe,
Middle East, Australia and U.K. |
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Terms : |
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Selling : |
L/C |
GENERAL INFORMATION
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Suppliers : |
Accuspirals Irsha Engineers Rahul Engineering Acrypol Products Karveer Engineering Industries Private Limited Rama Enterprises Advance Cooling Systems Private Limited KK Engineering Works Sai Control System Accutec Engineering Krupa Metal Saket Enterprises Alpine Enterprises Laxmi Spring Saurabh Engineers Ambica Engineering Works Machtoners Engineers Private Limited S. Engineering Works Ambica Polyconvertors M. M. Enterprises Sharayu Engineering Associated Engineers MNS Engineers Shree Engineering Works Ayswariya Engineers Mayuresh Enterprises Shree Ganesh Enterprises, Mumbai M M Industries Mrunal Enterprises SM Enterprises Chaitanya Industries National Engineering Company Nutan Chemicals |
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Customers : |
End Users |
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Bankers : |
Bank of India Pune Main Branch, 8/A, Dr. Coyaji Road, Camp, Pune – 411001 State Bank of India, Mumbai |
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Facilities : |
Secured Loans : Bank of India - Cash Credit : Rs. 4.966 millions |
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Banking Relations
: |
Good |
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Auditors : |
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Name : |
Kirtane and Pandit Chartered Accountants |
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Address : |
Sangati, 73/2/2, Bhakti Marg, Off Law College Road, Pune – 411004,
Maharashtra, India |
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Tel. No.: |
91-20-25433104 / 25438764/25421997 |
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Fax No.: |
91-20-25447603 |
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E-Mail : |
kpca@kirtanepandit.com |
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Mumbai Office Address : |
H / 16, Saraswat Colony, Sitaladevi Temple Road, Mahim, Mumbai –
400016, Maharashtra, India |
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Tel. No. : |
91-22-24469713 / 24444119 |
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Fax No. : |
91-22-24441147 |
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Associates : |
Associates Capsules Private Limited 131, Kandivli
Industrial Estate, Kandivli (East), Mumbai – 400 067, Maharashtra Tel.
91-22-28682010 Fax.
91-22-28686152/28682514 E-mail. sales.aclk@assocaps.com Line of Business:
Manufacture of Hard Gelatine Capsules Universal Capsules Private Limited Ashagadh, Dahanu
– 401 602, District Thane – 401 602, Maharashtra Tel.
91-2528-30130/31/32 Fax.
91-2528-60173 E-mail. ucl@dahanu.unicaps.com PAM Pharmaceutical and Allied Machinery Company Limited 127, Kandivali
Industrial Estate, Kandivali (East), Mumbai – 400 067, Maharashtra Line of Business:
Capsule Filling Machines PT Universal Capsules Limited ACL Packaging Films Division 131, Kandivli
Industrial Estate, Kandivli (East), Mumbai – 400 067, Maharashtra Tel.
91-22-28682010 Fax.
91-22-28686152/28682514 E-mail.
sales.alcpvc.com INK VERPACKUNGSTECHNIK D-7613,
Stutelsee, Germany Pam Pharmaceutical and Allied Machinery Company Private Limited Mumbai – 400067,
Maharashtra |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
220000 |
Equity Shares |
Rs. 100/- each |
Rs. 22.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
220000 |
Equity Shares |
Rs. 100/- each |
Rs. 22.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
22.000 |
22.000 |
22.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
368.861 |
282.575 |
234.628 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
390.861 |
304.575 |
256.628 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
4.311 |
4.966 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
4.311 |
4.966 |
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DEFERRED TAX LIABILITIES |
7.543 |
6.430 |
5.444 |
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TOTAL |
398.404 |
315.316 |
267.038 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
82.065 |
69.213 |
68.161 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
21.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
114.002
|
94.198 |
107.546 |
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Sundry Debtors |
254.016
|
154.298 |
159.047 |
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Cash & Bank Balances |
13.239
|
15.384 |
9.434 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
376.283
|
133.625 |
100.183 |
|
Total
Current Assets |
757.540
|
397.505 |
376.210 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
280.125
|
139.718 |
167.498 |
|
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Provisions |
182.076
|
11.684 |
9.835 |
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Total
Current Liabilities |
462.201
|
151.402 |
177.333 |
|
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Net Current Assets |
295.339
|
246.103 |
198.877 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
398.404 |
315.316 |
267.038 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
774.220 |
640.053 |
579.380 |
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Other Income |
31.548 |
22.522 |
17.480 |
|
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Total Income |
805.768 |
662.575 |
596.860 |
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Profit/(Loss) Before Tax |
149.219 |
93.178 |
86.241 |
|
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Provision for Taxation |
57.631 |
36.245 |
1.274 |
|
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Profit/(Loss) After Tax |
91.588 |
56.933 |
84.967 |
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|
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Earnings in Foreign Currency : |
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|
|
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Export Earnings |
N.A. |
N.A. |
135.923 |
|
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Commission Earnings |
N.A. |
N.A. |
0.000 |
|
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Other Earnings |
N.A. |
N.A. |
0.000 |
|
Total Earnings |
N.A. |
N.A. |
135.923 |
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Imports : |
|
|
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|
|
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Raw Materials |
N.A. |
N.A. |
19.094 |
|
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Stores & Spares |
N.A. |
N.A. |
0.000 |
|
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Capital Goods |
N.A. |
N.A. |
0.000 |
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Others |
N.A. |
N.A. |
0.000 |
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Total Imports |
N.A. |
N.A. |
19.094 |
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Expenditures : |
|
|
|
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|
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Raw Material Consumed |
326.457 |
317.457 |
294.520 |
|
|
Increase/(Decrease) in Finished Goods, Work
in Progress |
32.028 |
7.507 |
7.589 |
|
|
Salaries, Wages, Bonus, etc. |
92.960 |
73.687 |
51.270 |
|
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Payment to Auditors |
0.120 |
0.120 |
0.103 |
|
|
Insurance Expenses |
1.563 |
1.088 |
0.553 |
|
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Interest |
3.312 |
3.123 |
2.966 |
|
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Depreciation & Amortization |
6.919 |
6.842 |
6.149 |
|
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Other Expenditure |
193.190 |
159.573 |
147.469 |
|
Total Expenditure |
656.549 |
569.397 |
510.619 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
11.37
|
8.59 |
14.24 |
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Net Profit Margin (PBT/Sales) |
(%) |
19.27
|
14.56 |
14.89 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.77
|
19.96 |
19.41 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.31 |
0.34 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.18
|
0.51 |
0.71 |
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
2.63 |
2.12 |
LOCAL AGENCY
FURTHER INFORMATION
Contingent Liabilities :
|
|
2004-2005
[Rs. In Millions] |
2003-2004
[Rs. In Millions] |
|
Bank Guarantees |
22.771 |
13.790 |
|
Disputed Central Excise Demand |
1.476 |
1.779 |
|
Disputed Sales Tax Demand |
0.196 |
0.196 |
|
Disputed Income Tax Demand |
2.551 |
1.860 |
Fixed Assets :
Land, Buildings
Plant and Machinery
Tools and Accessories
Patterns and Moulds
Technical Know-How Fee
Furniture and Fixtures
Office Equipments
Computers and Vehicles
Profile:
Subject, a member of the globally renowned ACG group provides comprehensive solutions in blister packing and cartoning machines with an effort to innovate pharmaceutical packaging processes.
The business capital of India, produces some of the world's most advanced packaging machinery that are reliable, flexible and capable of delivering higher outputs. The wide range of blister packing machines is made to suit all types of pharmaceutical products with small, medium and large batch sizes. The machines are versatile enough to handle a variety of films and laminates, depending on application and sensitivity of the product. Their cartoning machines products both rigid and flexible with equal ease and efficacy, irrespective of the batch size.
Being the pioneers in Alu/Alu, tropical blisters and integrated blister
cartoning solutions with online inspection systems in India, Subject’s
innovative and continuous improvement has resulted in over 900 successful
installations the world over. Backed by ACG Worldwide's technology expertise,
Subject has developed unique applications like powder filling and liquid
filling in blisters to meet specific customer needs.
Following this unparalled portfolio of blister packing and cartoning solutions
in manufacturing, come stringent 'pre-dispatch' quality checks at their
facility, well supported by highly equipped and competent design facilities.
Partnering you in the validation, calibration and training needs and a strong
service back up for all their products makes Subject one of the most
comprehensive and innovative blister packing and cartoning solution provider in
the world.
ACG Worldwide is one of the world's largest and most reputed manufacturers of pharmaceutical empty capsules, pharma / packaging machinery and packaging films.
ACG Worldwide works in technical / financial collaboration with the worlds
leading companies including ALCAN, GLATT, HONEYWELL, THEEGARTEN PACTEC etc
exporting its products to over 60 countries including the USA, Europe and
Japan.
ACG Worldwide has warehouses and marketing offices in several countries, including USA, Europe and Asia and employees of different nationalities.
NEWS:
ACG worldwide participates in Southpack 2008
ACG Worldwide, through its engineering company, participated in the Southpack,2008 exhibition, in Chennai, and it was a Non Pharma Exhibition, held on 27 – 29 June, 2008.
We had displayed AT-Pac from Pam Pac and DCW from Pam, We could manage to get Good number of enquiries for AT-Pac and Sarong. Lots of FMCG customers visited our stall.
The participation was a grand success as machine created a lot of enthusiasm amongst the visitor
PAM India Wins the prestigious Febrafarma ‘Machine’ Award
in Brazil..
Today is a moment of pride for India and for ACG Worldwide. The last 5 years of continual efforts in the Brazilian market has earned PAM, (a member of ACG Worldwide) and their agent, Almapal the most prestigious award for the "Best Capsule filling machinery supplier".
The award was presented by the Brazilian Pharmaceutical Industry Federation
(Febrafarma) with the FCE Pharma where PAM Pharmaceuticals Mumbai was honoured.
This is, also, for the first time that an Indian company is being honoured for
excellence in this highly competitive by high technology area.
The other nominations for this category were IMA and MG2.
To everyone's surprise, BOSCH did not even figure in the nominees list.
The award was based on voting by pharmaceutical companies in Brazil based on
their actual experience with the vendor and the product. Febrafarma had derived
a nominations list for the “Quality Febrafarma Award”, which happened during
FCE Pharma from which the winners were announced.
ACG worldwide participates in propakasia 2008
"ACG Worldwide, through its four group companies, Pam, Pampac, Associated Capsules and Packshield, participated in Propak Asia 2008 exhibition in Bangkok, Thailand during 11 – 14 June 2008.
The range of products which were displayed in the stall were - Blister packing machine BP 102, Cartoning machine AT Pac, Candy Wrapping Machine FPH2, Check Weigher DCW 1000, Capsules and Packaging films."
Aclar training seminar at Scitech - April 1, 2008
A Sales Training Seminar for ACG Sales Team was organized by Packshield in association with Honeywell on April 1, 2008 at SciTech Centre.
The training presentations were delivered by Mr. Daniel Nott and Mr. Walter
Grupp from Honeywell.
The objective of this programme was to encourage the ACG sales team to promote
Aclar as a blister packaging material.
The programme was divided into technical and commercial aspects of selling
Aclar. A detailed presentation as made by Mr. Grupp on technical features of
Aclar such as its properties , thermoforming parameters and usage criteria .
Honeywell explained about their Sales Tools such as Value Calculator which help
in communicating the value proposition to a potential customer of Aclar.
Participants also learned about Barrier Calculator which is another good Aclar
selling tool from Honeywell.
About 70 delegates participated in Training Programme and the response was
good.A written test was also
conducted at the end of programme to evaluate the result of the training .
ACG participates in interpack processes and packaging 2008,
Germany
The second largest segment at interpack PROCESSES AND PACKAGING 2008 – packaging materials and packaging – also drew plenty of attention.
ACG @ Interpack 2008:
ACG Worldwide had a 200 sq. mtr stall in Hall no 6. The location of the stall was a good one as it was near one of the entrance of hall no. 6.The stall had a 3 meeting rooms with a seating arrangement of 6 in each
The products on display were as follows:
i Empty Hard Capsules from ACPL which were displayed
in elegantly made 14 capsule-shaped containers with light focussing on them
ii Packaging films – Barrier and Flexible
packaging films from Packshield were displayed as flowing rolls from a height
of 4 meters giving the films a greater visibility
iii Dies and Punches from Ajas were displayed
elegantly on an acrylic stand suspended using tension mounted wires.
iv Machines from Pam – Case Packer, Legend
2500, Legacy 6100 and Fluidocap FS machine from Nokasa, Japan
v Machines from Pampac – Tropac and Miniblis
The stall had 2 big seamless graphics explaining the whole gamut of ACG
Products. This was also the trend seen in most of the stalls which were theme
based with not more than 2 – 3 graphics.
ACG Worldwide participates in Interphex USA
ACG Worldwide participated in Interphex USA, an exhibition held in Philadelphia, from 26th - 28th March 2008, displaying the Encapsulator AF40T. The exhibition had visitors from USA, Canada, Mexico and Europe.
ACG participates in Nepal Expo.
Nepal Expo: 16-17 Feb, 2008 Kathmandu
ACG Worldwide, through its engineering companies, participated in the second Nepal Pharma Expo exhibition organized by “Association of Pharmaceutical Producers of Nepal” (APPON).
It was held in Kathmandu on 16 – 17 February 2008.
ACG Worldwide stall was one of the biggest and the busiest stalls in the
exhibition with the AF 40 T machine in operation as the main attraction of the
whole show. We had displayed AF 40 T and Mini-Glatt, the lab model FBE.
A team of 5 ACG personnel had an excellent opportunity to meet the bigwigs of
the small Pharma fraternity in Nepal, which consists of around 30 companies.
ACG participates in Iran Expo.
Exhibition Name: Packing and Printing Exhibition 08,
Teran, Iran.
Dates: 29th Jan -01st Feb 08
M/c Exhibited: AF 40 T, Legacy 6100 and BP102
Response form customers: We could manage to get some good enquiries for Pam Pac
Products and very few enquiries for Pam Products, since this show was totally
dedicated to Packaging Machines.
FORM 8
|
Name of the company |
PAM PAC MACHINES
PRIVATE LIMITED |
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|
Presented By |
BANK OF INDIA,
PUNE MAIN BRANCH, PUNE |
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1) Date and description of instrument creating the change |
29.09.2000 Equitable Mortgage created by oral assent |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 72.500 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 |
All that piece and parcel of Non-Agricultural Land and all immovable
property situated at Gat No. 446, Hissa No. 2 of Village Bebadhole, Tal.
Maval, Dist. Pune admeasuring 1 H. 78.1 R [12000 sq. mtrs.] together with
building and other structures, fixed machinery and plant, fixtures and
fittings |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
The company has
created on Equitable Mortgage by way of oral assent to secure various
facilities to the tune of Rs. 61 millions [fund based] and Rs. 11.5000
millions [Non-Fund Based] |
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|
5) Name and Address and description of the person entitled to the
charge. |
Bank of India Pune Main
Branch, 8/A, Dr. Coyaji Road, Camp, Pune – 411001 |
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|
6) Date and brief description of
instrument modifying the charge |
By an Agreement dated 08.08.2005, the charge created on 29.09.2000
stands further modified. However the aggregate reduced limit of Rs. 42.500
millions remains the same as there is modification in the individual limits
of various facilities. |
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7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
The modified limits are as under :-
|
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.42.82 |
|
UK Pound |
1 |
Rs.80.01 |
|
Euro |
1 |
Rs.63.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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 |
|