MIRA
INFORM REPORT
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Report Date : |
24.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
GSP CROP SCIENCE
PRIVATE LIMITED |
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Registered Office : |
404, Lalitha
Complex, 352/2, Between Jain Mandir Mithakhali Six Road, Navrangpura, Ahmedabad
380009, Gujarat, India |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.02.1985 |
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Com. Reg. No.: |
04-7641 |
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CIN No.: [Company
Identification No.] |
U24120GJ1985PTC007641 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMG00810F |
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Legal Form : |
Private limited
liability company. |
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Line of Business : |
Manufacturer and
Seller of Chemicals, Fertilizers and Pesticides. |
RATING &
COMMENTS
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MIRAs Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 534076 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having fine track. Directors are reported
as experienced, respectable and resourceful businessmen. Their trade
relations are fair. Financial position is good. Payments are correct and as
per commitments. The company can
be considered good for any normal business dealings. |
LOCATIONS
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Registered
Office : |
404, Lalitha
Complex, 352/2, Between Jain Mandir Mithakhali Six Road, Navrangpura,
Ahmedabad 380009, Gujarat |
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Tel. No.: |
91-79-26466580/26440493
/ 26449936 |
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Fax No.: |
91-79-26448872 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. fts. |
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Premises : |
Owned |
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Corporate
Office : |
1st
Floor, Amar Chambers, Relief Road, Kalupur, Ahmedabad 380002, Gujarat, India
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Tel. No.: |
91-79-27430299/27489081 |
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Fax No.: |
91-79-27435431 |
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Factory 1 : |
Plot No. 101 to
103, GVMM Industrial Estate, Odhav Road, Ahmedabad 382415, Gujarat, India |
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Tel. No.: |
91-79-22900927/22900528/22873927/22871030 |
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Fax No.: |
91-79-22902526 |
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E-Mail : |
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Area : |
50000 sq. fts. |
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Premises : |
Owned |
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Factory 2 : |
551, Phase II, GIDC Kathwada, O/S Odhav Octroi Naka, Ahmedabad
382430, Gujarat, India |
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Tel No. : |
91-79-22902556 |
DIRECTORS
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Name |
Mr. Vrajmohan
Ramanlal Shah |
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Designation |
Chairman and
Managing Director |
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Address |
4/A, Rekhra Park
Society, Vijaynagar Road, Naranpura, Ahmedabad 380013, Gujarat |
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Date of Birth |
03/12/1941 |
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Date of Appointment |
12/02/1985 |
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Name |
Mr. Chandrakant
Ramanlal Shah |
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Designation |
Director |
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Address |
6, Tristar
Apartments, Ambawadi, Ahmedabad 380 006, Gujarat |
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Date of Birth |
30/11/1949 |
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Date of Appointment |
12/02/1985 |
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Name |
Mr. Kunalbhai
Vrajmohan Shah |
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Designation |
Director |
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Address |
4/A, Rekhra Park
Society, Vijaynagar Road, Naranpura, Ahmedabad 380013, Gujarat |
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Date of Birth |
31/10/1969 |
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Date of Appointment |
01/03/1994 |
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Name |
Mr. Bhaveshbhai
Vrajmohan Shah |
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Designation |
Director |
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Address |
4/A, Rekhra Park
Society, Vijaynagar Road, Naranpura, Ahmedabad 380013, Gujarat |
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Date of Birth |
30/09/1971 |
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Date of Appointment |
01/03/1994 |
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Name |
Mr. Kenal
Vrajmohan Shah |
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Designation |
Director |
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Address |
4/A, Rekhra Park
Society, Vijaynagar Road, Naranpura, Ahmedabad 380013, Gujarat |
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Date of Birth |
31.10.1969 |
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Date of Appointment |
01.03.1994 |
KEY EXECUTIVES
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Name : |
Mr. Rakesh M.
Pathak |
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Designation : |
Company Secretary |
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Address |
26 Tatsat
Society, Niyojan Nagar, Ambawadi, Ahmedabad - 380015 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Vrajmohan
Shah |
12329 |
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Bharat Pesticides
Private Limited |
38000 |
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Mr. Shah
Falguniben K. |
2036 |
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Ms. Vilasben V.
Shah |
6408 |
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Mr. Kenal V.
Rajmohan Shah |
12074 |
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Ms. Deepaben B.
Shah |
2036 |
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Mr. Shah
Vrajmohan Ramanlal (HUF) |
5160 |
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Mr. Bhaveshbhai V
Rajmohan Shah |
11954 |
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Others |
3 |
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Total |
90000 |
Equity Share Breakup
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Sr. No. |
Category |
Percentage |
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1. |
Bodies Corporate
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42.22 % |
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2. |
Directors or
Relatives of directors |
57.78 % |
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Total |
100 % |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Seller of Chemicals, Fertilizers and Pesticides. |
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Products : |
Chemicals,
Fertilizers and Pesticides. |
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Imports : |
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Products : |
Raw materials from
reputed manufacturers and suppliers |
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Countries : |
Europe, USA and
China |
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Terms : |
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Selling : |
-- |
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Purchasing : |
L/C, DA or DP |
GENERAL
INFORMATION
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Suppliers |
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Customer : |
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No. of Employees : |
35 |
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Bankers : |
v Bank of Baroda, Maskati Market Branch,
Ahmedabad 390002, Gujarat v State Bank of India, SPL Commercial
Branch, Gandhidham, Ahmedabad v HDFC Bank Limited v ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Borkar And Mazumdar Chartered
Accountants |
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Address : |
B-408, Premium
House, Opp. Gandhinagar Rly. Station, Ashram Road, Ahmedabad 380009.
Gujarat |
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Parent Company
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Bharat Pesticides
Industries Private Limited 404, Lalitha Complex,
352/2, Rasala Road, Navrangpura, Ahmedabad 380009, Gujarat |
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Subsidiaries : |
Bharat Pesticides
Private Limited Amar Chember,
Radio Road, Ahmedabad, Gujarat, India Universal
Chemicals Industries |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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90000 |
Equity Shares |
Rs.100/- Each |
Rs.9.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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90000 |
Equity Shares |
Rs.100/- Each |
Rs.9.000 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 |
9.000 |
9.000 |
9.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
124.519 |
103.971 |
67.097 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
133.519 |
112.971 |
76.097 |
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LOAN FUNDS |
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1] Secured Loans |
112.084 |
78.784 |
53.081 |
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2] Unsecured Loans |
18.285 |
16.700 |
14.207 |
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TOTAL BORROWING |
130.369 |
95.484 |
67.288 |
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DEFERRED TAX LIABILITIES |
1.605 |
1.399 |
2.793 |
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TOTAL |
265.493 |
209.854 |
146.178 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
71.656 |
66.689 |
68.063 |
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Capital work-in-progress |
0.000 |
0.161 |
0.000 |
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INVESTMENT |
0.029 |
0.029 |
0.029 |
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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 |
210.066
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157.562 |
102.299 |
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Sundry Debtors |
114.413
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94.102 |
61.284 |
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Cash & Bank Balances |
23.092
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16.834 |
8.461 |
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Other Current Assets |
0.028
|
0.037 |
0.012 |
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Loans & Advances |
35.052
|
32.595 |
30.869 |
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Total
Current Assets |
382.651
|
301.130 |
202.925 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
175.740
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133.186 |
124.839 |
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Provisions |
13.103
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24.969 |
0.000 |
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Total
Current Liabilities |
188.843
|
158.155 |
124.839 |
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Net Current Assets |
193.808
|
142.975 |
78.086 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
265.493 |
209.854 |
146.178 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
589.299 |
575.806 |
508.171 |
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Other Income |
14.606 |
7.806 |
0.000 |
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Total Income |
603.905 |
583.469 |
508.171 |
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Profit/(Loss) Before Tax |
33.638 |
59.306 |
54.454 |
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Provision for Taxation |
13.090 |
22.432 |
21.138 |
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Profit/(Loss) After Tax |
20.548 |
36.874 |
33.316 |
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Import
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Raw
Materials
|
222.018 |
225.256 |
--- |
Capital
Goods
|
1.289 |
0.084 |
--- |
Total
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223.307 |
225.340 |
126.274 |
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Total Expenditures
|
585.629 |
499.613 |
453.718 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
3.40
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6.31 |
6.55 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.70
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10.29 |
10.71 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.61
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16.12 |
20.09 |
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Return on Investment (ROI) (PBT/Networth) |
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0.25
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0.52 |
0.71 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.39
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2.24 |
2.52 |
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Current Ratio (Current Asset/Current Liability) |
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2.02
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1.90 |
1.62 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
v Gharda Chemicals Limited
v Bayer India Limited
v Wockhardt Limited
v SPIC Limited
v Zeneca ICI Limited
v Cheminova India Limited
HISTORY
Subject was
originally incorporated on 12th February, 1985 under the name and
style of Gujarat Superphosphate Industries Private Limited at Ahmedabad in
Gujarat having Company Registration Number 7641.
The name of the
company was changed to present with effect from 19th September,
2003.
The company changed
its Registered Office from 1st Floor, Amar Chambers, Relief Road,
Kalupur, Ahmedabad- 380002, Gujarat to present address.
BUSINESS
As a first step the
company established an R&D Lab to synthesise wide range of Agro Chemical
Products, which included Pesticide Technicals, Plant Nutrients etc. The company
continued R&D efforts by an expert team of committed scientists resulted in
house synthesis of technicals like Finvalerate, Cypermetlrin, Quinalphos,
Acephate, Ethion, Hexaconazole, Plant Nutrients, based on Sulphut, Copper,
Manganese and Zinc in liquid forms.
Sales
Promotion
To ensure grass
root level promotion of the right usage of pesticides. A team of qualified
field personnel keeps a close watch on the sales and services of its products
to the consumers thought the country.
The companys field
equipped with samples, sales promotion, material and spray equipments are
continuously demonstrating proper used of products and also conducting training
programmer and group discussions with Government Organisation, Agencies,
Agriculture, Universities, Progressive farmers Research Institutes to promote
its products. The company lays great emphasis on total qualities assurance on
all its products.
Fixed
Assets
v Land
v Factory Shed
v Office Building
v Plant & Machinery
v Laboratory Equipment
v Electric Fitting
v Furniture & Fixture
v Office Equipment
v Factory Equipment
v Vehicles
Form 8
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Corporate
identity number (CIN) Foreign company registration number |
U24120GJ1985PTC007641 |
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Name of the Company
|
GSP CROP SCIENCE
PRIVATE LIMITED |
|
Address |
404, Lalitha
Complex, 352/2, Between Jain Mandir Mithakhali Six Road, Navrangpura,
Ahmedabad 380009, Gujarat, India |
|
This form is for |
Creation of
Charge |
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Type of Charge |
Book Debts Movable Property
(Not being pledge) Floating Charge Others b) If Others,
Specify Fixed Deposit And
As Per Annexure I |
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Particulars of
the charge holder |
CIN :
U72900MH2001PLC132441 Name : 3i
Infotech Trusteeship Services Limited Address : 3rd
to 6th Floor, International Infotech Park, Tower No. 5, Vashi
Railway Station Complex, Vashi, Navi Mumbai 400703, Maharashtra Email ID :
raman.jayaraman@3i-itsl.com |
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Nature or
description of the instruments creating or modifying the charge |
Deed of Hypothecation
executed by GSP crop Science Pvt. Ltd. In favour of 3i Infotech Trusteeship
Services Limited as a security trustee for the ICICI Bank Limited |
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Amount secured by
the charge |
Rs.60.000
Millions |
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Date of the
instrument creating or modifying the charge |
31.10.2007 |
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Brief Particular
of the principal terms and conditions and extent and operation of the charge |
a)
Rate of
Interest : As per Annexure II attached herewith b)
Term of
Repayment : As per Annexure II attached herewith c)
Margin : As per
Annexure II attached herewith d)
Extent and
Operation of the charge : As per Annexure II attached herewith e)
Others : As
per Annexure II attached herewith |
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Name of the
company |
GSP
CROP SCIENCE PRIVATE LIMITED |
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Presented By |
Mr. V R Shah |
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1) Date and
description of instrument creating the change |
Agreement for
hypothecation of goods and assets dated 06.06.2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Credit facility
of Rs. 185.200 Millions Working Capital
Facilities Rs. 152.900 Millions Term Loan Rs.
32.300 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 |
Working
Capital Facilities All present and
future goods, book debts and all other movable assets of the borrower
including document of title to goods and other assets such as outstanding
monies receivable, claims, bills, invoices, document, policies, guarantees
etc. shall stand hypothecation to bank by way of first charge, more
particularly stated in the sanction letter dated 20.04.2005 Term Loan Term loan secured
by hypothecation of all present and future plant and machineries, building of
technical division at 100-103 GVMMIE, Ahmedabad Term Loan and new
term loan of Rs. 17.000 secured by hypothecation of all present and future
plant and machineries and other movable assets of formulation division. |
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4) Gist of the terms
and conditions and extent and operation of the charge. |
Charge was
created to secure various credit facilities aggregation to Rs. 185.200
Millions Fund Base
Non Fund Base
Rate of
Interest
Margin Raw Material - 30% Stock in Process
- 50% Finished Goods -
40% Receivable - 50% Letter of Credit
- 15 % Bank Guarantee -
40% EPC - 10% Other terms and
conditions as per sanction letter enclosed herewith. |
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5) Name and Address
and description of the person entitled to the charge. |
State Bank of
India, SPL Commercial Branch, Gandhidham, Ahmedabad |
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6) Date and brief description of instrument
modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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Name of the
company |
GSP
CROP SCIENCE PRIVATE LIMITED |
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Presented By |
Mr. V R Shah |
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1) Date and
description of instrument creating the change |
Memorandum of
deposit for creation of charge for term loan dated 24.08.2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Credit facility of
Rs. 185.200 Millions Working Capital
Facilities Rs. 152.900 Millions Term Loan Rs.
32.300 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 |
Property being
plot no. 101 to 103 each admeasuring 1111.11 sq. ft yards or there about to
Gujarat vepari maha mandal sahakari vasahat limited, and allotted to the
forming part of Survey No. 67,70,75, and 123 of maje odhav, sim,taluka city
and sub district Ahmedabad T. P. Schema No. 3 Final Plot No. 15,16,17,35 and
40 Property being
plot no. 100 each admeasuring 928.79 sq. ft yards or there about to M/s.
Universal Chemical Industries forming part of Survey No. 67,70,75, and 123 of
maje odhav, sim,taluka city and sub district Ahmedabad T. P. Schema No. 3
Final Plot No. 15,16,17,35 and 40 Office No. 404,
in the building known as Lalita Complex belonging to Lalita Complex
Association and Final Plot 352, sub Plot 3, Part lying and being at Moje
Changispur, Taluka city in the registration Plot No. 551
admeasuring 6149 sq. ft yards there about in GIDC kathwada situed on Revenue
survey No. 47/p, 1/ p at Moje
Changispur, Taluka And more
particularly descried in the schedule referred to part 1 & 2 attached
hereto in favour of the bank |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Charge was
created to secure various credit facilities aggregation to Rs. 185.200
Millions Fund Base
Non Fund Base
Rate of
Interest
Margin Raw Material - 30% Stock in Process
- 50% Finished Goods -
40% Receivable - 50% Letter of Credit
- 15 % Bank Guarantee -
40% EPC - 10% Other terms and conditions
as per sanction letter enclosed herewith. |
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5) Name and
Address and description of the person entitled to the charge. |
State Bank of
India, SPL Commercial Branch, Gandhidham, Ahmedabad |
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6) Date and brief description of instrument modifying
the charge |
Not Applicable |
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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. |
Not Applicable |
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Name of the
company |
GSP
CROP SCIENCE PRIVATE LIMITED |
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Presented By |
Mr. V R Shah |
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1) Date and
description of instrument creating the change |
Hypothecation of
goods dated 11.11.1993 Instrument of hypothecation
of goods, book debts movable machinery dated 11.11.1993 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 3.500
Millions Rs. 17.250
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 stock of
company, raw material, finished goods, stock in proves Hypothecation of
goods, book debts, machinery, future exclusive charges thereon |
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4) Gist of the terms
and conditions and extent and operation of the charge. |
Interest 19.5% +
Interest Tax As per sanction
letter MMK/ADV/46/03/110 dated 30.06.2003 for 12 month |
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|
5) Name and
Address and description of the person entitled to the charge. |
Bank of Baroda,
Maskati Market Branch, Ahmedabad 390002, Gujarat |
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|
6) Date and brief description of instrument
modifying the charge |
Supplemental
hypothecation agreement for stock movable machinery, vehicles and book debts
dated 17.7.2004 |
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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. |
Modification with
enhancement from existing facilities of Rs. 40.000Millions as detailed below
Rs. 45.000 Millionsin the from of line of credit facilities comprising cash
credit Cash credit
stock - Rs. 10.000 Cash credit book
debts Rs. 10.000 Letter of
credit - Rs. 20.000 Rate of interest
0.50% + BLPR with min 11% +0.50% Margin Raw Material - 30% Stock in Process
- 50% Finished Goods -
40% Book debts 50% Property charged
machinery stock & book debts |
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|
|
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|
|
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Name of the
company |
GSP
CROP SCIENCE PRIVATE LIMITED |
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|
Presented By |
Mr. V R Shah |
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|
1) Date and
description of instrument creating the change |
Memorandum of
deposited of title dated 11.11.1993 |
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|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 14.396
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 |
Factory
land/building suited at Gujarat vepari maha mandal sahakari vasahat limited,
Ahmedabad |
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|
4) Gist of the terms
and conditions and extent and operation of the charge. |
As per sanction
letter MMK/ADV/46/03/110 dated 30.06.2003 for 12 month |
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|
5) Name and
Address and description of the person entitled to the charge. |
Bank of Baroda, Maskati
Market Branch, Ahmedabad 390002, Gujarat |
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|
6) Date and brief description of instrument
modifying the charge |
Supplemental
hypothecation agreement for stock movable machinery, vehicles and book debts
dated 17.7.2004 11.11.1993 Rs.
14.396 11.11.1995 Rs.
14.589 03.09.1997 Rs.
5.750 21.08.1998 Rs.
12.600 22.10.1999 Rs.
16.500 21.05.2001 Rs.
5.030 15.07.2003 Rs.
14.300 |
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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. |
Extension of
equitable to cover total limit of Rs. 60.564 Term Loan Rs. 0.428 Rs. 1.148 Rs. 4.638 Rs. 8.750 Line of credit
Rs. 45.000 performance bank Guarantee 0.600 |
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|
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|
|
|
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|
Name of the
company |
GSP
CROP SCIENCE PRIVATE LIMITED |
||||||||||||||||||||||||||||||||||||||||
|
Presented By |
Mr. V R Shah |
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|
1) Date and
description of instrument creating the change |
ADHOC Document
import LC dated 5.03.2004 |
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|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 10.000
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 |
Hypothecation of stock
of raw materials, stock in process, finished goods, packing material etc.
belonging to the company store at factory or in Godown and book debts present
and future by the company |
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|
4) Gist of the
terms and conditions and extent and operation of the charge. |
As per FEDAI
Rules 25% Cash Margin for 90 days |
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|
5) Name and
Address and description of the person entitled to the charge. |
Bank of Baroda,
Maskati Market Branch, Ahmedabad 390002, Gujarat |
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|
6) Date and brief description of instrument modifying
the charge |
Not Applicable |
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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. |
Not Applicable |
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 Intl
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 companys 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.39.40 |
|
UK Pound |
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
This score serves as a reference to assess SCs 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 |
|