MIRA INFORM REPORT
|
Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
CIPY POLYURETHANES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
T –127, MIDC,
Bhosari Industrial Area, Bhosari, Pune – 411026, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
29.11.1994 |
|
|
|
|
Com. Reg. No.: |
11-83328 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24219PN1994PTC083328 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEC00821C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACC7264R |
|
|
|
|
Legal Form : |
Private Limited
Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer of
Urethane and Epoxy Coatings. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 642000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The Company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office / Corporate
Office /Factory : |
T –127, MIDC,
Bhosari Industrial Area, Bhosari, Pune – 411026, |
|
Tel. No.: |
91-20-27121706/
27122586/ 27122861 / 66316400 |
|
Fax No.: |
91-20-27120491/
66316460 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Subhash Cipy |
|
Designation : |
Director |
|
Address : |
Ritu, 11, |
|
Qualification: |
B.E Chemicals |
|
Experience: |
31 Years |
|
Date of
Birth/Age : |
16.05.1953 |
|
Date of
Appointment : |
29.11.1994 |
|
Previous
Employment: |
CIPY Chem.
Private Limited |
|
|
|
|
Name : |
Mrs. Sabitha Cipy |
|
Designation : |
Director |
|
Address : |
Ritu, 11, |
|
Date of
Birth/Age : |
06.06.1960 |
|
Date of
Appointment : |
29.11.1994 |
MAJOR SHAREHOLDERS
AS ON 30.09.2010
|
Names of
Shareholders |
|
No. of Shares |
|
Subhash Cipy |
|
18018 |
|
Sabita Cipy |
|
72018 |
|
Total |
|
90036 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relative of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer of
Urethane and Epoxy Coatings. |
|
|
|
|
Product : |
·
Polyurethane
Paints ·
Floor
Coatings ·
ESD
Coatings ·
Hygienic
Coatings ·
Re
Enterable Castings ·
Adhesives
and Sealants ·
Moisture
Curing Urethanes ·
Clear
Coatings ·
Deck
Coatings ·
Wall
Coatings ·
OEM ·
Concrete
Sealer ·
Green
Coatings ·
Protective
Coatings ·
Spray
applied Polyurethane ·
Water
Proofing and Memt |
GENERAL INFORMATION
|
No. of
Employees : |
350
(Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Indian Bank Address: 1:Deccan
Gymnkhana, Pune – 411004, Address 2:
759/62, · Axis Bank Limited 126/B, |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D R Barve and
Associates Chartered
Accountants |
|
Address : |
461/1, Sadashiv
Peth, Above Dr. Pathak Hospital, Opposite English School, Tilak Road, Pune –
411030, Maharashtra, India |
|
Tel. No.: |
91-20-24455414/
24453592 |
|
Pan No.: |
ABIPA3458P |
|
E-mail: |
|
|
|
|
|
Associates / Subsidiaries : |
R. R. Flooring |
CAPITAL STRUCTURE
(As on 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity shares |
Rs.100/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
90036 |
Equity shares |
Rs.100/- each |
Rs.9.004
millions |
|
|
|
|
|
Note:
(Of the above shares 10004, 30012, 45018
shares were allotted as fully paid up by way of Bonus Shares by capitalizing
the General Reserve during the financial year 97-98, 99-00, 2002-03
respectively.)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.004 |
9.004 |
9.004 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
151.503 |
117.368 |
80.369 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
160.507 |
126.372 |
89.373 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
115.631 |
107.061 |
88.355 |
|
|
2] Unsecured Loans |
0.268 |
0.846 |
2.880 |
|
|
TOTAL BORROWING |
115.899 |
107.907 |
91.235 |
|
|
DEFERRED TAX LIABILITIES |
5.452 |
4.236 |
0.993 |
|
|
|
|
|
|
|
|
TOTAL |
281.858 |
238.515 |
181.601 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
104.909 |
59.453 |
38.183 |
|
|
Capital work-in-progress |
4.098 |
3.670 |
4.763 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.980
|
38.012
|
38.258
|
|
|
Sundry Debtors |
253.229
|
239.728
|
203.173
|
|
|
Cash & Bank Balances |
36.383
|
18.824
|
12.141
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
13.528
|
10.190
|
8.730
|
|
Total
Current Assets |
345.120
|
306.754
|
262.302
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
154.367
|
103.406
|
98.292
|
|
|
Other Current Liabilities |
17.902
|
19.352
|
9.601
|
|
|
Provisions |
0.000
|
8.604
|
15.754
|
|
Total
Current Liabilities |
172.269
|
131.362
|
123.647
|
|
|
Net Current Assets |
172.851
|
175.392
|
138.655
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
281.858 |
238.515 |
181.601 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
630.141 |
585.957 |
510.286 |
|
|
|
Other Income |
3.893 |
7.655 |
2.417 |
|
|
|
TOTAL (A) |
634.034 |
593.612 |
512.703 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Cost |
486.440 |
431.690 |
381.058 |
|
|
|
Increase/ Decrease Stock |
1.914 |
(0.279) |
(10.666) |
|
|
|
Employee Cost |
36.019 |
31.206 |
27.416 |
|
|
|
Administrative & Selling Cost |
38.372 |
52.918 |
32.024 |
|
|
|
TOTAL (B) |
562.745 |
515.535 |
429.832 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
71.289 |
78.077 |
82.871 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.859 |
13.104 |
8.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
56.430 |
64.973 |
74.340 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.537 |
3.284 |
2.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
51.893 |
61.689 |
71.920 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.557 |
24.388 |
26.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.336 |
37.301 |
45.618 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
0.200 |
|
|
|
Proposed Dividend |
0.000 |
0.900 |
0.900 |
|
|
|
Provision for Corporate Dividend Tax |
0.000 |
0.153 |
0.153 |
|
|
BALANCE CARRIED
TO THE B/S |
34.336 |
36.248 |
44.364 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
78.968 |
61.913 |
39.959 |
|
|
TOTAL EARNINGS |
78.968 |
61.913 |
39.959 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Capital Goods, etc |
14.344 |
22.650 |
27.631 |
|
|
TOTAL IMPORTS |
14.344 |
22.650 |
27.631 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
381.37 |
414.30 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.42
|
6.28
|
8.90
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.24
|
10.53
|
14.09
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.53
|
16.49
|
23.93
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.49
|
14.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.79
|
1.96
|
1.38
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.00
|
2.26
|
2.12
|
LOCAL AGENCY FURTHER INFORMATION
Financials Results
It was the year with lots of ups and downs as regards overall market conditions. As the members are aware of the fact that company is involved a peculiar type of business of industrial flooring.
With efforts of Directors as well as employees, company has made higher as compared previous year. But the execution of orders was delayed due to prolonged project of customers. This in turn added to the cost of re-painting resulting in no corresponding increase in income for the company.
This has affected the overall profitability of the company. Considering the experience, directors have taken measures such as overall 15 % reduction in all the types of expenses and made the budget for the current year accordingly.
Directors are hopeful of better results in next year.
Form 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10048089 |
|
Corporate
identity number of the company |
U24219PN1994PTC083328 |
|
Name of the
company |
CIPY POLYURETHANES PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
T–127, MIDC, Bhosari
Industrial Area, Pune – 411026, |
|
Type of charge |
Ř Book Debts Ř Movable Property Ř Others |
|
Particular of
charge holder |
· Axis Bank Limited 126/B, E-Mail : ruchi.joshi@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental deed
of hypothecation |
|
Date of instrument
Creating the charge |
03.06.2009 |
|
Amount secured by
the charge |
Rs.177.932
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As specified by
the Bank from time to time Terms of Repayment As prescribed by
the Bank Margin As per Norms of
the Bank Extent and Operation of the charge First charge |
|
Short particulars
of the property charged |
All tangible movable
machineries, plant, machinery, fixture, fitting, movable goods and assets,
stock. Book debts etc. |
|
Date of latest
modification prior to the present modification |
13.03.2008 |
|
Particulars of
the present modification |
Bank has granted additional
limits of Rs. 33.000 Millions to the company. Total limit after this
modification becomes Rs. 177.932 Millions. Security given earlier continues
for the enhanced limits. |
Bankers Charges
Report as per Registry
|
Name of the company |
CIPY POLYURETHANES PRIVATE LIMITED |
||||||||
|
Presented By |
Mr. Subhash Cipy Director |
||||||||
|
1) Date and description of instrument creating the change |
Agreement of
Hypothecation of Movables Dated 29.03.1996 Agreement For Add Collateral Security
of Plot at T-127, MIDC Bhosari, Dated 18-06-2002 |
||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Ř Cash Credit - Rs. 1.500 Millions Ř Bill Purchased -Rs. 3.500 Millions Ř Letter of credit - Rs. 1.000 Millions |
||||||||
|
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, Plat and Machinery and Book Debts Additional Co-lateral Security of
T-127, MIDC Bhosari, Pune. |
||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Ř Cash Credit - Rs. 1.500 Millions Ř Bill Purchased -Rs. 3.500 Millions Ř Letter of credit - Rs. 1.000 Millions Rate of Interest Repayable on
Demand |
||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Indian Bank, |
||||||||
|
6) Date and brief description of instrument modifying the charge |
Agreement of
Extention of Hypothecation of Movables, Immovable Property at T-127, MIDC
Bhosari, Dated – 07.03.2005 |
||||||||
|
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. |
Amount Increased
From Rs. 37.942 Millions to Rs. 44.900 Millions as under:
|
|
Corporate
identity number of the company |
U24219PN1994PTC083328 |
|
Name of the
company |
CIPY POLYURETHANES PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
T-–127, MIDC,
Bhosari Industrial Area, Pune – 411026, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
AXIS BANK LIMITED |
|
Nature of
instrument creating charge |
Memorandum of
Entry (Creation/ Extension of Mortgage) |
|
Date of
instrument Creating the charge |
20/11/2010 |
|
Amount secured by
the charge |
Rs.239.800
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As Specified By
The Bank From Time To Time Terms of
Repayment As Per The Agreement
With The Bank Margin As Per The
Agreement With The Bank Extent and
Operation of the charge First Charge On
Hypothecated Assets Viz. Stocks, Book Debts, All Current Assets & Plant
& Machineries of the Company situate at the Business place and elsewhere
the same may be & Mortgaged Property Situate At Plot No T-127 & 128
'T-Block, Bhosari MIDC, Pune and piece of Land adm 5 Acres i.e. appox. 20,235
Sq Mtrs out of 'Industrial Park' out of layout of land adm 55 H 21.50 R at Vill Shirwal, Tal Khandala Dist
Satara and Charge Shall Continues Till Full Repayment Of Loan. Others Other Terms And
Conditions Are As Per The Agreement. Type of
Facilities: (Amt in Millions) Cash Credit of Rs.75.000, EPC/PSC (Sub limit of
CC) of Rs. 10.000, Inland/Import LC of Rs. 20.000, BG of Rs. 350, TL IV of
Rs. 17.100*, TL II of Rs. 4.700*, TL V of Rs. 13.000* and TL VI of Rs. 65.000
total credit of Rs. 239.800. *(considering run
down liability under TL II, IV, VI as per annexure attached). |
|
Short particulars
of the property charged |
Hypothecation Of
(A) All Tangible Movable Machineries, Plant Machinery, Fixtures, Fittings,
Other Installation, Cranes, Furniture, Computers and Other Accessories,
Vehicles, Together with Spares, Tools and Accessories and All Other Articles
(B) Whole Of The Borrowers Movables Goods and Assets Both Present and Future
and Including But Without Prejudice To Generality Of The Foregoing Words, All
Stocks Of Raw Materials, Work In Progress, Semi finished Goods and Finished
Goods, Packing Material, Consumable Stores and Spares (C) All The Present and
Future Book Debts, Outstanding Monies, Receivables, Claims and Bills,
Contracts, Engagements and Securities Due and Owing To The Borrower/S and
Lying and Being At Business Place Of The Borrower/s and Elsewhere The Same
May Be. Mortgage Of
Immovable Properties Of Company: (1) All That Piece and Parcel Of
Property/Ies Bearing Plot No T-127 In
Block "T", Bhosari Ind Area Adm 2337 Sq. Mtrs. Along With
Factory Building Adm 778.91 Sq. Mtrs. Constructed On The Said Land Consisting
Of Office Building, Shed No 1 and Shed No 2 With Cycle Stand Situate At Vill
Pimpri Waghere, Dist Pune (2) All That
Piece and Parcel Of Property/Ies Bearing Plot No T-128 In Block "T"
Bhosari Ind Area Adm 2242 Sq. Mtrs. Alongwith Factory Building Of 1137.26 Sq.
Mtrs. Constructed In "T" Block, Pimpri Industrial Area Of MIDC,
Village Bhosari, Taluka Haveli, Dist Pune. (3) All that piece and parcel of
land or ground adm abt 5 acres = 20,235 Sq Mtrs approx. out of sanctioned
'Industrial Park' layout in respect of a contiguous block of land adm 55 H
21.50 Aar at Vill Shirwal, Tal Khadala Dist Satara. More Particularly
described in annexure 'Details of Immovable Properties' attached. And
Mortgage Of Immovable Property Held In The Name Of Mr. Subhash Cipy, Director
Of The Company- All That Piece and Parcel Of The Land Property Bearing S. No.
3/2 (Old S. No. 60/2), Plot Hissa No. 15 Adm About 2790 Sq. Mtrs. Situate At
Vitthalnagar, Tal Haveli, Dist Pune. |
|
Particulars of
the present modification |
TL I and TL III
has been repaid in full Making The Present Charge Totalling To the tune of
Rs. 239.800 Millions. Extension On the
Mortgage Property Situate At Plot No T-127 & 128 'T-Block, Bhosari MIDC, Pune
and Additional Charge on piece of Land adm 5 Acres i.e. appox. 20,235 Sq Mtrs
out of 'Industrial Park' out of layout of land adm 55 H 21.50 R at Vill Shirwal, Tal Khandala Dist
Satara to secure total credit of Rs. 239.800 Millions. |
Achievements:
1976: The
first baby of Cipy : ‘U-Coat’, the two component PU clear coating
1978: Introduction
of second product, now obscure, Urelac.
1980: The
launch of the first MCU of the country: Duraseal
1982: The
commission of the first plant at J-62 in MIDC, Pune
1984: The
take off of complete range of PU anti corrosive systems.
1985: The
very first product of Floor coat was emerged.
1988: Flocking
adhesives were launched
1991: The
firm became a Corporate entity
1995: The
second plant at J-446, MIDC was commissioned
1996: The
continuous RandD brought in novel products: Adhesives, sealants and OEM paints
1998: Became
an ISO 9001 accredited company.
1999: Ventured
in to complete range of epoxy based coatings under the brand name: Cipoxy
2000: The emergence of
2001: Silver
jubilee year. The launch of spray applied, elastomeric PU coatings, water
dispersible epoxy and PU, ESD floorings,, MCU’s
2002: Shifted
to the current location, T-127, MIDC, Bhosari, Pune
2003: Completes
25 million sq.ft. Of Floor coat installations
2004: Developed
PU based self leveling floorings: Floor coat SL
2005: Developed
hybrid polyurea coatings; three component waterborne PU self leveling
floorings.
2006: Development of PUD's
2007: Developed full range of Polyureas, aromatic and
aliphatic soft feel coatings
2008: Developed EPU based high strength screed. Completes 50 millions sq.ft. of flooring installations
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.22 |
|
|
1 |
Rs.71.97 |
|
Euro |
1 |
Rs.63.23 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.