MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACCUREX BIOMEDICALS PRIVATE LIMITED |
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Registered Office : |
212, Udyog Mandir No. 1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai - 400 016, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.09.1994 |
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Com. Reg. No.: |
11-80801 |
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CIN No.: [Company
Identification No.] |
U85195MH1994PTC080801 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA09277C |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturing of Diagnostic Re-Agent, Blood and Urine Testing Kits. |
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 168000 |
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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. Trade relations are fair. Business is active. Payments are
reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. As confirmed by Mr. Rajkumar, Office Assistant, subject does not have
its own R and D / Design centre. |
LOCATIONS
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Registered Office / Head Office : |
212, Udyog Mandir No. 1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai - 400 016, Maharashtra |
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Tel. No.: |
91-22-66662223 / 2444 9103 / 2446 8111 / 2444 2846 / 56662223 |
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Fax No.: |
91-22-66662667 / 2445 0176 |
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E-Mail : |
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Website : |
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Area : |
1000 sq.fts. |
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Location : |
Owned |
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Factory : |
G-54, MIDC Tarapur, Boisar, Thane - 401 506, Maharashtra, India |
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Tel. No.: |
91-2525-271560 /61 / 275561 |
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Fax No.: |
91-2525-273338 |
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Area : |
6500 sq.fts |
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Location : |
Owned |
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Branches 1: |
201, Oriental House, Commercial Complex, Gulmohar Enclave, New Delhi - 110 049,India |
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Tel. No.: |
91-11-2653 4305 / 10 |
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Fax No.: |
91-11-2653 4310 |
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E-Mail : |
accurex@bol.net.in |
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Area : |
500 sq.fts. |
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Location : |
Owned |
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Branches 2: |
P-77, Bishranti, 4th Floor,
Kalindi Housing Estate, Kolkata – 700 089. INDIA |
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Mobile No: |
91 9830066078 |
DIRECTORS
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Name : |
Mrs. Savita Anil Thakur |
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Designation : |
Director cum Chairperson |
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Address : |
21, June Blossoms, Hill Road, Bandra (west), Mumbai – 400 050,
Maharashtra, India |
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Date of Birth/Age : |
03.04.1959 |
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Date of Appointment : |
25.01.2004 |
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Remark: |
Appointed as Chairperson w.e.f 29.04.2005, Appointed as Managing Director w.e.f
01.09.2005 |
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Name : |
Mr. Abhinav Anil Thakur |
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Designation : |
Director |
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Address : |
21, June Blossoms, Hill Road, Bandra (West), Mumbai – 400 050,
Maharashtra, India |
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Date of Birth/Age : |
28.07.1982 |
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Date of Appointment : |
16.02.2004 |
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Remark: |
Appointed as whole time Director w.e.f 29.04.2005 Appointed as joint Managing Director w.e.f 01.09.2005 |
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Name : |
Mr. Mahendra Jamnashankar Dashora |
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Designation : |
Director |
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Address : |
Bunglow No. 10, Sai Dham, Saravali, Boisar, Thane – 401 506,
Maharashtra, India |
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Date of Birth/Age : |
04.03.1958 |
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Date of Appointment : |
05.09.1994 |
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Remark: |
Removed as Managing Director but to continue as Director w.e.f
07.06.2005 |
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Name : |
Mrs. Uma Mahemdra Dashora |
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Designation : |
Director |
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Address : |
Bunglow No. 10, Sai Dham, Saravali, Boisar, Thane – 401 506,
Maharashtra, India |
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Date of Birth/Age : |
01.01.1962 |
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Date of Appointment : |
25.01.2004 |
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Name : |
Mr. Anil Jaswantsingh Thakur |
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Designation : |
Director |
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Address : |
21, June
Blossoms, Hill Road, Bandra (West), Mumbai |
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Age: |
46 years |
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Qualification : |
B.Sc. (Chemistry) |
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Experience : |
26 years |
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other personnel
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Mr. Bhaskar Singh |
Officer – Sales & Administration |
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Mr. Sampath V. Shetty |
Manager – Accounts |
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Mr. Subrata Mandal |
Sales Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Mahendra J Dashora |
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14175 |
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Mrs. Savita Anil Thakur |
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26245 |
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Mr. Abhinav Anil Thakur |
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80 |
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Total
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40500 |
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
65.00 |
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2 |
Other top fifty (50) shareholders |
35.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Diagnostic Re-Agent, Blood and Urine Testing Kits. |
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Brand Names : |
· "AUTO ZYME", · "INFINITE", · "ACCU-DE", · "ACCU-STIX", · "NEW TRI-STIX PH", · "EZ-Lets" |
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Exports : |
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Countries : |
Nepal |
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Imports : |
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Countries : |
Germany, Japan and France. |
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Terms : |
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Selling : |
Credit (25 days) terms |
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Purchasing : |
Credit (30 - 45 days) terms, L/C terms. |
GENERAL
INFORMATION
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No. of Employees : |
101 ( 24 persons in factory, 12 persons in office and 65 others) |
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Bankers : |
Union Bank of India Mahim (West) Branch, Plot No. 337, Carol Mansion No. 35, Sitladevi Temple Road, Mahim (West), Mumbai - 400 016 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name 1 : |
Mr. Suresh Vasant Kanetkar Chartered Accountant |
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Address : |
2, Amrut Niwas, Sarojini Road, Santacruz (West), Mumbai – 400054 |
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Tel. No.: |
91-22-2649 1749 |
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Name 2 : |
P M Turakhia and Company Chartered Accountants |
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Address : |
102, Osia Friendship, 4th Gaothan Lane, Off J P Road, Opposite Ram Mandir, Andheri (West), Mumbai – 400 058, Maharashtra, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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40500 |
Equity Shares |
Rs.
100/-each |
Rs. 4.050
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.050 |
4.050 |
4.050 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
37.712 |
33.434 |
18.792 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
41.762 |
37.484 |
22.842 |
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LOAN FUNDS |
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1] Secured Loans |
3.365 |
10.437 |
0.586 |
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2] Unsecured Loans |
6.750 |
7.260 |
9.990 |
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TOTAL BORROWING |
10.115 |
17.697 |
10.576 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
51.877 |
55.181 |
33.418 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.530 |
15.431 |
14.664 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.002 |
0.002 |
0.002 |
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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 |
15.449
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28.120 |
11.295 |
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Sundry Debtors |
15.258
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13.488 |
10.046 |
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Cash & Bank Balances |
8.063
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10.652 |
2.473 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
11.217
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15.129 |
10.903 |
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Total
Current Assets |
49.987
|
67.389 |
34.717 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.150
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13.648 |
10.480 |
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Provisions |
6.492
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14.000 |
5.500 |
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Total
Current Liabilities |
12.642
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27.648 |
15.980 |
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Net Current Assets |
37.345
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39.741 |
18.737 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.007 |
0.015 |
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TOTAL |
51.877 |
55.181 |
33.418 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2004 |
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Sales Turnover |
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88.279 |
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Other Income |
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0.000 |
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Total Income |
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88.279 |
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Profit/(Loss) Before Tax |
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8.988 |
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Provision for Taxation |
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5.888 |
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Profit/(Loss) After Tax |
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3.100 |
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Expenditures : |
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Manufacturing Expenses |
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9.871 |
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Administrative Expenses |
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19.362 |
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Raw Material Consumed |
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13.077 |
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Cost of Gluco Card Lipids
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12.384 |
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Employees Remuneration & Benefits
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13.384 |
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Selling & Distribution Expenses
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9.358 |
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Interest & Financial Expenses
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|
0.787 |
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Total Expenditure |
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78.223 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
NA |
NA |
3.51 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
10.18 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
18.20 |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
0.39 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.54 |
1.20 |
1.16 |
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Current Ratio (Current Asset/Current Liability) |
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3.95 |
2.43 |
2.17 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
The company was incorporated on 5th September 1994 at Mumbai in Maharashtra having Company Registration Number 80801.
The company shifted its’ Registered Office from “21, June Blossoms, Hill Road, Bandra (West), Mumbai – 400 050” to “SH-5, Rose Blossoms, Sitladevi Temple Road, Mahim, Mumbai – 400 016” with effect from 29.09.1994.
Subsequently, the Registered Office of the company has been shifted to the present address.
OTHER INFORMATION:
The company exports its products to Nepal (10%) against Credit (25 days) terms.
The company is in
trade terms with the following :
· Arkray Inc
57, Nishi Aketa, Higashi-KU, Kyoto 601-8045, Japan
Contact Person : Mr. S. K. Cheong
Fax : 9040081-75-8610 662-8973
· Roche Diagnostics GmbH
Sandhofer Street 116, Germany
· Dojindo Lab
Tabaru - 2025-5, Mashiki - Machi, Kamimashiki- Gun, Japan
· Toyobo Company Limited
Biochemical Operations Department
2-8, Dojima Hama 2 Chome, Kita-Ku, Osaka 530, Japan
· Roche O Lag
Mannhein, Germany
Contact Person : Mr. Andreas Moll
Fax : 04 0049-621 759
· Aki Shokai Company Limited
Tokyo 105-0012, Japan
Contact Person : Mr. S. Moni
Fax : 904-0081-3-5425-6833
The product range of the company includes :
AUTOZYME :
· Amylase -CNP
· New Alkaline Phosphatase-p-NPP
· Phosphorus - PhosphoMolybdate
· Chloride - Thiocyanate
· Bilirubin - Jendrassik and Grof
· Acid Phosphates - Napthylphosphate
· New BUN-GLDH
· Calcium-o-CPC
· Calcium - Arsenazo III
· Stat Glucose - GOD-POD
· HDL-Cholesterol-Phosphotungstate
· Creatinine - Jaffe (Kinetic)
· Creatinine - Enzymatic (Kinetic)
· Eco-Pak Glucose GOD-POD
· Cholesterol - CHOD-POD
· CK-NAC / CK-MB-UV-Kinetic
· New SGOT-IFCC
· New SGPT-IFCC
· Haemoglobin - Cyanmethemoglobin
· Total Protein - Biuret
· Albumin - BCG
· New Uric Acid - Uricase
· Triglycerides - GPO -POD
· Urea - Modified Berthelot
INFINITE
· Stat Glucose (Liquid) - GOD - POD
· Triglycerides (Liquid) GPO - POD
· Cholesterol (Liquid) CHOD - POD
· Uric Acid (Liquid) - Uricase
·
ACCU - DEX - Test Strip for Urine Glucose
·
ACCU- STIX -
Test Strip for Urine Glucose & Protein
·
KETO-TEST GK -
Test Strip for Urine Glucose & Ketone
·
NEW TRI-STIX PH
- Three Test Strip for Urine Glucose, Protein and PH
·
Super Glucocard
II - Fully Automated Blood Glucose Meter
·
Glucocard Test
Strip II - Blood Glucose Test Strip
·
EZ Lets-
Lancets
·
Multi- Lancet
II - Lancing Device
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U85195MH1994PTC080801 |
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Name of the company |
ACCUREX BIOMEDICAL PRIVATE LIMITED |
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Address |
212, Udyog Mandir No. 1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai - 400 016, Maharashtra, INDIA |
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This Form is for |
Modification of charge |
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Type of Charges |
Immovable property |
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Particular of the charge holder
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Union Bank of India Address: Mahim Branch, Plot No. 337, Karol
Mansion, Sitladevi Temple Road, Mahim (West), Mumbai – 400 016, Maharashtra,
India Email ID: cbsmahim@unionbankofindia.com
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Nature or description of the instrument creating charge |
Memorandum of entry |
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Date of the instrument creating charge |
08.05.2007 |
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Amount Secure by the charge |
Rs. 8.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of interest: Interest as determined by the bank from time to time. Terms of repayment: On Demand Margin: As per sanction terms Extent and operation of the
charge: To secure cash credit limit of Rs. 5.000 millions, Import DA / L/C Limit
of Rs. 2.000 millions, LG Limit of Rs. 0.500 millions and CP Limit of Rs.
0.500 millions aggregating to Rs. 8.000 millions granted by the bank to the
company together with interest, additional interest in case of default,
liquidation damages, commitments charges, premium on repayment or Redemption,
costs, charges, expenses and other monies payable by the company to union
bank of India. |
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Description of the property charge whether it is a charge on |
Memorandum of entry |
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Short particulars of the Property charged |
212, Udhyog Mandir Premises co-op Society Limit, Udhyog Mandir No. 1,
Mahim , Mumbai – 400 016, together with building and other structures, fixed
plant and machinery constructed / erected or installed thereon both present
and future. |
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Particulars of the present modification |
Mortgage has been extended in favour of the bank in respect of the
company’s immovable property described in column above as further security for
the due repayment and discharge by the company to Union Bank of India in
respect of total credit facilities as under:- Cash Credit Limit of Rs. 5.000 millions , Import DA / LC Limit of Rs.
2.000 millions, LG Limit of Rs. 0.500 millions and CP limit of Rs. 0.500
millions aggregating to Rs. 8.000 millions granted by the bank to the company
together with interest thereon. |
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Name of the
company |
ACCUREX BIOMEDICAL PRIVATE LIMITED |
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Presented
By |
Union Bank of
India, Mahim Branch, Mumbai |
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1) Date and
description of instrument creating the change |
Hypothecation
(goods) Agreement Dated: 9th
June, 1995 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 0.300
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 |
hypothecation of
stocks of raw materials, work in progress and finished goods of diagnostics
blood and urine testing regents belonging to the borrower which now or
hereinafter from time to time during this security shall be brought in,
stored or be in or about the borrower premises or godown/s at G -54, MIDC
Tarapur, Boisar, thane – 401 506 and /or in transit or with Borrower’s agents
or wherever else they may be. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest at the rate of 18.75% per annum
and /or at such other revised rates as may be prescribed by the Bank from
time to time |
|
5) Name and
Address and description of the person entitled to the charge. |
Union Bank of India Mahim Branch , Plot No. 337, Karol Mansion, Sitladevi Temple Road, Mahim (West), Mumbai – 400 016 |
|
6) Date and brief description of instrument modifying
the charge |
Hypothecation
agreement of Goods and Debts (SD-06) Date : 26th
December, 2005 |
|
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 original
charge dated 9th June, 1995 an additional sum of Rs. 0.900
millions was granted by the bank, thereby enhancing the limit form Rs. 0.300
millions to Rs. 1.200 millions against hypothecation of chemicals and
packaging materials used for manufacturing diagnostic blood and urine testing
reagents. On 6th
January 1998 an additional sum of Rs. 0.800 millions was granted by the bank
, thereby enhancing the limit form Rs. 1.200 millions to Rs. 2.000 millions
against hypothecation of raw materials , goods in process and finished goods
which shall include all products, goods and movable property of any kind
belonging to the borrower which now or hereinafter from time to time during
this security shall be brought in stored or be in or about the borrowers
premises or godown/s at G – 54 MIDC, Tarapur, Boisar thane and or in transit
or with Borrowers agents or wherever else they may be. On 6th
January , 1998 additional security was taken by the bank of the Company
immovable properties situated at G -54 , MIDC, Tarapur, Boisar, Dist. Thane
401 506 and Unit No. 212, Udyog Mandir premises Co-op soc. Ltd, Udyog Mandir,
No. 1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai – 400 016 (more particularly
described below) together with the
structures already standing thereon, together with the fixed plant and
machinery or the building and structure which may hereafter be erected as
security for the payment to Union Bank of India of the amounts advanced or to
be advanced under the Cash Credit facility of Rs. 2.000 millions granted or
to be granted by the bank to the Company and also to repay interest ,
compound interest, additional interest, charges, expenses, etc and also for
the future facilities that may be granted by bank to the company together with
interest costs, expenses, etc. Description of property at Tarapur: All that piece or
parcel of vacant land or grow together with the structure thereon and plant a
machinery lying thereon bearing Plot No. G – situated at MIDC , Tarapur,
Boisar in Thane in the Registration sub District, admeasuring 600 sq. mtrs or
thereabout and bounded follows that is to say:- On or towards the
North : by Plot No. G -53 On or towards the
South : by Plot No. G -55 On or towards the
East : by Road On or towards the
West : by MIDC Land Description of property at Mahim: Unite bearing No.
212, in Udyog Mandir Premises op. Society Ltd, Udyog Mandir No. 1, 7-C,
Bhagoji Keer, Mahim, Mumbai – 400 016, admeasuring 1000 sq.fts or thereabout
bearing T P S –III No.3 together with the structure thereon and plant a
machinery lying thereon. Vide this
modification an additional sum of Rs. 3.000 millions has been granted by the
bank thereby enhancing the cash credit limit from Rs. 2.000 millions to Rs. 5.000 millions against
hypothecation by way of first charge favour of the bank Stock of raw
materials, work in progress, finished goods of Enzymes, Chemicals, Test
strips, Diagnostics reagent kits, Guluco cards, Lipids belonging to or at the
disposal of the borrower and which are now stored or being stored or which
hereafter may from time to time be brought into stored or being in or about
the borrower’s premises godown/s at G – 54, MIDC Tarapur, Boisar, Thane a at
other places hired by the borrower for the purposes of storage in the Union
of India or wherever else they may be including any of the said goods with
any of the borrowers agencies or courses of by the ship, rail or otherwise. The Borrower’s
book debts, outstanding, monies deposits, receivables, claims and bills
contacts, securities, investment which are now due and owing or which may At
any time hereafter during the continuance of this security becoming due and
owing to the Borrower in the course of its business by any person or party
including any government or any local or public body or authority. Interest at the
rate of 11.75% per annum with monthly rests or at such other revised rate/s
as may be prescribed by the bank from time to time for the cash credit limit
of Rs. 5.000 millions granted by the Bank to the Company , Margin: 25%. |
WEBSITE DETAILS:
The company name is composed from two words, ACCU and REX.
"ACCU"
refers to the word accurate. It"s definition as described by Oxford
dictionary portrays the essence of their existence.
"REX"
a Latin word for king speaks of their authoritative influence in the diagnostic
industry they operate.
The company was founded on 18 October '84; with an aim to
establish as a manufacturer of in-vitro diagnostic products. Today, it's core business
is manufacturing and marketing of biochemistry reagents and urine analysis test
strips.
Guided by clear vision and driven by enthusiasm; the company has gained
considerable expertise in manufacturing and marketing. It has built a
reputation of a strong financial base, quality products and dynamic marketing.
Company headquarters and it's marketing office is at Mumbai, while the
manufacturing facilities are located at Tarapur 100 kms. from Mumbai.
As an acknowledged leader in clinical chemistry reagents, with products equal
to, or better than those of competitors, including multinationals - The
company is poised to assume a
leadership position in India and Asia-Pacific region.
They at the company have taken a big step of building an
everlasting corporate culture that supports value-oriented philosophy in
whatever they do. Customer delight takes the forefront position in all their
business strategies.
Spearheading high growth year after year, their history of success unfolds many
events which confirms their strong business sense. The company aim is to
research, develop, manufacture and market 'value-added' diagnostic products.
For further development, if a major investment is required, it can become a
public listed company shortly.
The company products are manufactured at their
state-of-the-art production facility at Tarapur. The three-storeyed building
with built-up area of 7,500 square feet is centrally air-conditioned for
controlled manufacturing environment and comfort working. The layout of each
department is in such a way; so as to enhance their contribution for creation
of superior products.
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.39.39 |
|
UK Pound |
1 |
Rs.78.40 |
|
Euro |
1 |
Rs.58.73 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|