MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
REIFENHAUSER INDIA MARKETING LIMITED |
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Registered Office : |
229, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai-400063,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.12.1993 |
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Com. Reg. No.: |
11-75814 |
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CIN No.: [Company
Identification No.] |
L74999MH1993PLC075814 |
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IEC No.: |
393071782 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR06844F |
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PAN No.: [Permanent
Account No.] |
AAACR2003H |
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Legal Form : |
Closely held Public limited liability company |
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Line of Business : |
The company is engaged in the business of acting as indenting agent and providing technical services. |
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 219080 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company and subsidiary of Reifenhauser GmbH and Company, Germany. Directors are reported as experienced and respectable businessmen. Their trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
229, Udyog Bhavan,
Sonawala Road, Goregaon (East), Mumbai-400063, Maharashtra, India |
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Tel. No.: |
91-22-26862711/28756361 |
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Mobile No.: |
91-98200
80957 |
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Fax No.: |
91-22-2682722/12/28756361 |
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E-Mail : |
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Website : |
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Area : |
Total 2400 sq. fts. = 1800 owned + 600 rented |
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Location : |
Owned |
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Branches / Factory 1 : |
2nd Floor, Old No. 17, New No. 25, Sir P. S. Siraswamy,
Salai, Maylapre, Chennai, India |
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Branches / Factory 2 : |
Pocket-L, Flat No. 523, Sarita Vihar, New Delhi 110 076, India |
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Branches : |
New
Delhi |
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Tel. No.: |
91 – 93132 04680 / 91 – 93122 13983 |
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E-Mail : |
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Branches : |
Chennai |
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Tel. No.: |
91-93810 49435 |
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E-Mail : |
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Branches : |
Banglore |
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Tel. No.: |
91-93419 68029 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Manish A Mehta |
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Designation : |
Managing Director |
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Address : |
4, Archana Apartment, 4, A, B. Nair Road, Juhu, Mumbai-49 |
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Date of Birth/Age : |
24/05/1961 |
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Qualification : |
BSC, DMM, Diploma in Plastic Technology |
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Date of Appointment : |
27/12/1993 |
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Name : |
Ms. Usha M. Mehta |
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Designation : |
Whole time Director |
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Address : |
4, Archana Apartment, 4, A, B. Nair Road, Juhu, Mumbai-49 |
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Date of Birth/Age : |
27/10/1961 |
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Qualification : |
Diploma in Accounts and Admin |
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Date of Appointment : |
27/12/1993 |
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Name : |
Mr. Hamir A Mehta |
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Designation : |
Director |
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Address : |
4, Lalit Kunj, Dadabhai Road, Vile Parle (West), Mumbai-49 |
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Date of Birth/Age : |
03/09/1964 |
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Qualification : |
B. Com., C A |
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Date of Appointment : |
15/03/1995 |
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Name : |
Mr. Ulrich Hams Reifenhauser |
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Designation : |
Director |
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Address : |
AM Driesch, 19, 53844 Traoisdorf, Germany |
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Date of Birth/Age : |
11/06/1956 |
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Qualification : |
Degree in Business Studies |
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Date of Appointment : |
28/06/1995 |
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Name : |
Klays Anton Reifenhouser |
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Designation : |
Director |
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Address : |
AM Driesch, 19, 53844 Traoisdorf, Germany |
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Date of Birth/Age : |
12/12/1957 |
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Qualification : |
Degree in Business Studies |
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Date of Appointment : |
28/06/1995 |
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Name : |
Mr. Anish K. Shah |
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Designation : |
Director |
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Address : |
Mumbai – 56 |
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Date of Birth/Age : |
27/03/1970 |
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Date of Appointment : |
12/12/2003 |
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Name : |
Mr. Ing Harald Gotthardt |
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Designation : |
Director |
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Address : |
KAMPF Gmbh and Company KG, Maschinenenfabrik, Muehlener Strasse 36-42, D-51674 Wiehl, Germany |
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Date of Birth/Age : |
12.12.1948 |
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Qualification : |
Diploma – Ingenieur, Doctorate |
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Date of Appointment : |
27.06.2005 |
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Name : |
Mr. Anish Mehta |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
A. Sekar |
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Designation : |
Company Secretary |
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Address : |
Mumbai-56 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names Of Shareholders |
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No. of equity
Shares |
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Mr. Manish Arvind Mehta |
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4.900 |
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Ms. Usha M. Mehta |
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4,900 |
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Ms. Jinali Manish Mehta |
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7,150 |
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Ms. Pragna Arvind Mehta |
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7,150 |
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Ms. Falguni Hamir Mehta |
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7,150 |
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Ms. Bhadra Ramakant Vaishnav |
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7,150 |
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Reifenhauser GMBH And Company |
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50,050 |
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Mr. Hamir Arvind Mehta |
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4,500 |
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Mr. Manish A Mehta Huf |
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7,150 |
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Total |
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1,00,100 |
Equity share breakup (percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Foreign holdings (foreign institutional investor(s),
foreign companie(s), foreign financial institution(s), non-resident Indian(s)
or overseas corporate bodies or others |
50.00 |
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2 |
Directors or relatives of directors |
50.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in the business of acting as indenting agent and providing technical services. |
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Products : |
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Imports : |
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Products : |
Food disposals, PP Sheets, FIBC big Bags, T-shirt bags, Vaccum bags |
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Countries : |
Germany, France, Italy, Poland |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
26 ( 15 in factory, 11 in branch) |
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Bankers: |
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Auditors : |
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Name : |
M. A. Parikh and Company Chartered Accountants |
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Address : |
Yusuf Building, 2nd Floor, 43, M. G. Road,
Fort, Mumbai – 23, Maharashtra, India |
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Tel. No.: |
91-22-22041018 |
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Associates/Subsidiaries : |
Address: 229, Udyog Bhavan, Sonawala
Road, Goregaon (East), Mumbai 400 063, Maharashtra, India Line of Business: Marketing of Medical Equipments
Address: 229, Udyog Bhavan,
Sonawala Road, Goregaon (East), Mumbai 400 063, Maharashtra, India Line of Business: Marketing of Machineries and Consultancy |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity shares |
Rs. 10/- each |
Rs. 2.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100100 |
Equity shares |
Rs. 10/- each |
Rs. 1.001
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 |
1.001 |
1.001 |
1.001 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
42.815 |
35.844 |
30.695 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
43.816 |
36.845 |
31.696 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
1.886 |
1.794 |
1.717 |
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TOTAL |
45.702 |
38.639 |
33.413 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.567 |
10.955 |
10.413 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.480 |
1.980 |
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 |
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Sundry Debtors |
13.849
|
6.137 |
16.617 |
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Cash & Bank Balances |
24.546
|
16.210 |
10.796 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.345
|
1.635 |
1.801 |
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Total
Current Assets |
40.740
|
29.214 |
23.982 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.000
|
0.981 |
0.000 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
8.085
|
3.510 |
0.981 |
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Net Current Assets |
32.655
|
25.704 |
23.000 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
45.702 |
38.639 |
33.413 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
38.698 |
28.518 |
49.274 |
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Other Income |
2.407 |
0.602 |
0.000 |
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Total Income |
41.105 |
29.120 |
49.274 |
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Profit/(Loss)
Before Tax |
11.434 |
8.691 |
12.695 |
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Provision for
Taxation |
4.463 |
3.542 |
4.552 |
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Profit/(Loss)
After Tax |
6.971 |
5.149 |
8.143 |
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Earnings in
Foreign Currency : |
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Other Earnings |
36.383 |
27.314 |
0.000 |
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Total Earnings |
36.383 |
27.314 |
0.000 |
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Expenditures : |
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Administrative
Expenses |
28.937 |
19.734 |
0.000 |
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Staff welfare
expenses |
0.000 |
0.000 |
0.440 |
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Rent, rates and
taxes |
0.000 |
0.000 |
0.699 |
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Electricity
charges |
0.000 |
0.000 |
0.182 |
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Travellling and
conveyance |
0.000 |
0.000 |
6.473 |
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Professional
fees |
0.000 |
0.000 |
0.053 |
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Advertisement
and publicity |
0.000 |
0.000 |
1.348 |
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Printing and
stationary |
0.000 |
0.000 |
0.066 |
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Communication
expenses |
0.000 |
0.000 |
1.081 |
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Business
promotion |
0.000 |
0.000 |
0.578 |
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General expenses
|
0.000 |
0.000 |
0.318 |
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Loss on sale of
fixed assets |
0.000 |
0.000 |
0.000 |
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Donation |
0.000 |
0.000 |
0.025 |
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Commission |
0.000 |
0.000 |
0.957 |
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Salaries, Wages,
Bonus, etc. |
0.000 |
0.000 |
8.531 |
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Managerial
Remuneration |
0.000 |
0.000 |
0.000 |
|
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Payment to
Auditors |
0.000 |
0.000 |
0.058 |
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Insurance
Expenses |
0.000 |
0.000 |
15.077 |
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Power & Fuel |
0.000 |
0.000 |
0.000 |
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Depreciation
& Amortization |
0.734 |
0.694 |
0.535 |
|
Total
Expenditure |
29.671 |
20.428 |
36.578 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
16.95 |
17.68
|
16.52 |
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Net Profit Margin (PBT/Sales) |
(%) |
29.54 |
30.48
|
25.76 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
22.28 |
21.63
|
36.90 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.23
|
0.40 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.18 |
0.09
|
0.03 |
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Current Ratio (Current Asset/Current Liability) |
|
5.04 |
8.32
|
24.44 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed assets:
- Office
premises
- Office equipments
- Electrical
fittings
- Furniture’s
and fixtures
- Computers
- Motor car
- Scooter
The performance of the company has been encouraging for the considering the general up trend in the Indian economy. Further, the new agencies acquired by the company during the previous years have also contributed to the resulted. The company expects to achieve better results with the order book situation looking attractive.
To engaged in and to carry on the business as merchants, traders, commission agents, buying agents, selling agents, brokers, sellers, agents, importers, exporters, dealers, collectors, distributors, of and to import, export, buy, sell, barter, exchanger, pledge, distribute, mortgage, advance upon or otherwise trade and deal in all merchandises, general producers, substances, materials, goods, machinery and equipment including all types of capital goods, its spare parts and accessories, chemicals, dyes, plastics, polymers, intermediates, fertilizers etc.
AS PER
WEBSITE
Subject is an agency
house who caters to the Plastics and Packaging industry by providing to its
customers, the best machinery and solutions from various reputed manufacturers
that meet the International standards . The motto has always been to provide
the customer with the latest technology from time to time.
Principals
Subject is a
subsidiary of M/s Reifenhauser GmbH and Co, Germany responsible for marketing and servicing of entire range of
extrusion machinery and individual component like extruders, die, winders etc.
in India. Besides selling
Reifenhauser germany products their company has taken exclusive sales and
services rights for various other companies like Kampf GmbH and
Company , Netstal-Maschinen AG, Kreyenborg GmbH, Krauss Maffei Gmbh Schul, PMC,
Akzo Noble Inc. etc.
Services
Besides marketing and selling high
quality equipment they provide exclusive service for installation, erecting and
trouble shooting on 24 hours , 365 days a year basis
Qualified and Experienced
Mechanical, Electrical and Electronic Engineer.
Periodically Trained at their
Principal’s works to update Technical Developments and New Technology
Provide Installation, Repair and
Preventive Maintenance services.
Technical advice for ordering
spare parts
Refurbish of Existing Machinery
24 Hours Service Hotline – Cell
0091-9820080957
Background
A small seed was sown in 1994 with
an idea of providing the plastics industry with high quality extrusion
machinery. Since then the seed has nurtured to become a full grown tree
shadowing the entire plastics , converting and packaging industry, offering its
customers with services, right from film extrusion machines, laminates and
printing units to Slitting Rewinding Systems, bag making / pouching machines.
The concept is to provide the
customer with the latest state of the art technology in terms of machineries
and some specialized commodities available in the world, for all their plastics
and converting needs under one single roof.
They have some diversified
activity in the fields of paper cups and bags signify RIML's commitment to the
society and green causes.
Subject
is a subsidiary of M/s. Reifenhäuser GmbH and Co, Germany
M/s. Reifenhäuser GmbH and Co,
Germany holds 50 % equity in the company and the balance 50% equity is held by
Mr. Manish Mehta and family.
Mr. Ulrich Reifenhäuser-Chairman
of the Board.
Mr. Manish Mehta- Managing
Director.
Mr. Klaus Reifenhäuser – Director
Mr. Hamir Mehta – Director
Ms. Usha Mehta- Director
Today, they take immense pleasure in
mentioning that some of the best names in the Plastics field are customers of
RIML. Right from extrusion BOPP / BOPET to printing laminating, ink and master
batch besides injection moulded product like optical disc PET Preform , caps
and closures and Blow ,moulded products like bottle containers and Jerry can
for packing of industrial chemical pharmaceuticals cosmetics and automotive
applications like fuel tank, spoilers etc.
RIML has it's presence felt in a
broad spectrum related to plastic processing, packaging and converting field.
Present
Ever since Reifenhäuser India
Marketing Limited. (RIML) came into existence, high levels of customer
commitment and professionalism have been the hallmark of the company's growth.
To anybody associated with the Plastics and Packaging field in India, RIML is
not a new name.
The dynamic and dedicated team of
RIML under the able leadership of Mr. Manish Mehta has achieved a reputation
and success.
Motto
"In
close contact with the customer"
The
Co-operation
The RIML team looks forward to the
co-operation, to provide you with their services, if you are looking forth to
set up, diversify or upgrade in plastics and packaging industry
Subject
is an agency house representing the following principles in the field of
Plastic processing, converting and packaging “
Acigraf
graphic equipments S.R.L. - Rotogravure
cylinder making Equipments
AFS Entwicklungs + Vertreibs Gmbh - Corona Treaters , Needle
Perforators
AVT Inc. - Printing defect Detection Systems
Akzo Noble
Inc. - Inks and Varnishes
A.
Schulman Plastics N.V. - Masterbatch and
Additives for Plastic Ind.
BKG - Bruckmann and Kreyenborg Granuliertechnik GmbH
Underwater Pelletizing Systems
Die Plates, Cutting Knives and Control Systems.
BEKUM Maschinenfabriken GmbH
Blow Moulding Machines
Dr. Schenk Inspection
Systems
Measurement of Mechanical and
Optical Properties
Fischer and Krecke
FISCHER and KRECKE is one of the
leading manufacturers of flexo printing presses for flexible packaging,
linerboard, and paperboard as well as of bag making and handle bag making
machines.
Hans
Weber Maschinenfabrik GmbH
Harper Asia/ Pacific Company
Limited.
Ceramic Coated Anilox Roller for
Flexi Printing Tech.
Kreyenborg GmbH - Filtration systems, Melt Pumps and Recycling lines
Kampf GmbH and Company - Winders and Slitters for Plastic and Aluminium Foil
Mark Andy Inc. - Comco Product Div - Narrow web Flexo Printing Machines.
Newlong Machine works Limited. - Paper bags / Paper sack Mfg. Machines.
Netstal-Maschinen AG - High speed injection Moulding M/cs
PAGENDARM BTT GmbH
Paper Machinery Corp. - paper cups / container Mfg. Machines
Polyrema KG
Polyrema KG- Refurbished machine
in the field of Blown film, Cast film and thermofoaming sheet line besides
making their own mono and 3-layer blown film line upto max width of 1400mm
P.T. Reinpals Sejahtera - Aluminium wires for Metallizing
Reifenhauser Gmbh and Company - Extrusion Plants
Extruder and Extruding Machinery
Component
Reiloy Metall GmbH
Reiloy Metall GmbH- manufacturer
of Screw and barrel from various metal combinations including bi-metallic
Reimotech GmbH
Reimotech GmbH- Machine manuf of
complete extrusion line for monofilament out of PP/ PET / PA 6-66, Polysulphone
etc and strapping line from PP /PA/ PET
Reprochem - Chemicals for Graphic Arts
Flexible dies (rotary and flat),
rotary cutters, printing cylinders, hot stamping and magnetic cylinders and
many other tools
SAM (SUNG AN MACHINERY COMPANY, LIMITED. ) has been developing along with
Flexible Packaging Industry for
around
half of century.
Totani Corporation - Pouch making machines
Products
- Additives and
thermoplastics
- Paper Bags
- Blow Moulding
Machines : Injection / Pressblow
- Blown Film
Line Mono and Co-Ex upto 9 layers
- BOPP / BOPET
Film
- Cartonning
- Cast Film Line
upto 7 layers
- Chemicals for
Cylinder presentation
- Conslit -
Economical Slitter Winder
- Corona
Treaters
- Degreasing
Chemicals
- Extruder -
Twin / Single Screw
- Blow Moulding
Machines
- Flexo
Printing - Narrow Web
- Flexo
Printing Presses
- Flexible dies
(Rotary and Flat) Hot Stamping
- Grinding
Stones
- Grinding
Stones for cylinder making
- Injection
Blow Moulding
- Injection
Moulding - Optical Discs
- Injection
Moulding - PET Preforms
- Injection
Moulding - Standard Application
- Measuring Instruments of
Heating Discs
- Monofilament
Line
- Paper Cups
- Pouch Making
- Screw and
Barrel
- Sheet Line
- Slitters for
PET Industry, PVC Films
- Spunbonding
Nonwoven
- Stand Up
Pouch
- Thermoforming
Sheets
- Twin Screw
Extruders
Exports
Plastic/
Packaging Related Semi Finished and Finished Goods ; Plastic Master Batch and
Raw material; Plastic processing and Converting Machinery
Plastic/ Packaging Related Semi
Finished Goods
BOPP Films: (10 microns onwards,
width upto 8000mm)
Metallised, Chemically treated, perallised etc.
BOPET Film: (10 microns onwards,
width upto 8000mm)
Metalised Corona treated. Chemically treated etc.
Multi-layered Barrier Flims:
(upto5layers, width upto 1600mm)
Nylon, EVOH based film upto 175 microns]
CPP Film: (upto 5layers, width
upto 2000mm, 15 micron onwards, with various coatings)
Thermoforming sheet: (upto
3layers, width upto 1800mm)
Made of PP,PET,HIPS in any colour.
PVC / PS foam Sheet
PVC Film: Sheet/ PVC Leather Clothes
/ Floor Covering.
In various thickness, width upto 2000mm for various application.
Aluminum Foil from 7micron onwards
for various application like Converters Foil, Lidding Foil, Household
Foil,Blister Foil, Closure stock etc. with heat seal lacquer coating, Shellac
coating.
PP Spun Bonded Non-woven fabric
from 17 to 120 gsm.(width upto 3200mm, Any colour)
Variety of Plastic Bags like
T-shirt, loop handle, Patch handle, Shopping bags etc. made of
(PP/HDPE/LDPE/LLDPE) from 10 microns onwards, from one colour printed to
6colour Halftone Printed on Flexo CI press. Different types of paper bags made
from craft paper 60gsm onwards for grocery, food packing. Printed shopping bags
made of duplex board 250gsm onwards with various types of handles.
Monofilament Products like Ropes,
Twines, Bristles, Fish nets, Fishing Lines for PP/PA/PET.
Food disposable items: like
Plastic cups and containers (Thermoformed), HIPS, Injection moulded PP,PET).
Various sizes and shapes from 100ml to 1000ml.
Paper Cups (Poly coated) printed
upto 5 colours in sizes of 150,200,225,250,350,450 ml and upto 280 gsm SBS cup
stock Multilayer Flexible Laminates upto 5layers (solvent based/ solventless
Laminated/ PVDC Coating/ Hot Melt/ Aluminum Foil based).
Printed on Italian 10 colour Rotogravure printing machines with latest
registration control system.
Web width upto 1200mm.
Surface printed on Flexo CI press upto 8 colour
Injection /moulded items like
Bottle caps, crates, bin, brush, PET Preform , Garden furniture etc.
Miscellaneous items-
Non-woven Finished goods/ interlining
Stationary material
Writing instruments
Optical Disc- CD./DVD
HDPE/PVC Pipes/ Fitting upto 800mm dia.
News
Dear Friends,
The Flexo and Converting Show is just
round the corner. All the prominent players associated with this industry, may
it be plate processors, machine manufacturers, ink suppliers or specialty
equipment providers, will be at the show to flex their muscles displaying the
latest developments they have to offer the industry.
And why not, this is the right
time for the industry to be buoyant. With the processed food industry geared to
touch a figure of Rs.750 Crores by the year 2007, they are estimating a steady
growth rate of around 17-20%. This just touches the tip of the iceberg. Other
industries directly or indirectly associated to the converting industry are the
personal care and hygiene industry along with the pharmaceutical industry both
growing at 12% and 14% respectively. The experts are predicting a growth rate
of 20% for laminates, labels, etc.
This is endorsed by the high
number of imported machineries installed in India in last two years, then may
these machineries be for the film industry or for the converting industry. The
prime reasons behind this exponential growth in the past two years can be owed
primarily to two factors:
A) Increase in the income levels of the common man - the
middle class.
B)Awareness towards hygienic products.
During this show, they are
expecting to be exposed to umpteen new technologies and developments in the
Flexo and Converting industry. Without any further due, I leave you with an
invitation to visit them at the India
Flexo and Converting Show Stall No: 34 to be held on the 30th
of September 2005 at Chennai Trade Centre.
Notes to Accounts:
- The company’s principle business is acting as marketing agent and
rendering of related services. Hence, in the opinion of the management of
the company there are no separate segmens within the company as defined by
AS 17 ( Segment Reporting) issued by the institute of Chartered of
Accountants of India
- The company has taken office premises under cancelable operating
lease. These lease arrangements are normally renewed on expiry. The rental
expenditure are accounted for in the profit and loss. Account of the
company in accordance with accunting standard on lease transaction (AS 19)
issued by the institute of Chartered Accountants of India. The amount of
lease charges debited to profit and loss account is Rs. 0.509 million (
31.03.2004 Rs 0.532 million)
V Generic name of three principle products / services of the company
|
Item code no. (ITC Code) |
Not Applicable |
|
Product description |
Note: The company is engaged in the business
of acting as marketing agent and providing technical services. |
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.42.30 |
|
UK Pound |
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.66.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|