MIRA
INFORM REPORT
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Report Date : |
22.04.2011 |
IDENTIFICATION DETAILS
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Name : |
PROVIMI ANIMAL NUTRITION INDIA PRIVATE LIMITED |
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Formerly Known As : |
TETRAGON CHEMIE PRIVATE LIMITED |
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Registered Office : |
IS – 40, K.H.B. Industrial Area, Yelahanka New Town, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
11.03.1983 |
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Com. Reg. No.: |
08-005213 |
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CIN No.: [Company
Identification No.] |
U24111KA1983PTC005213 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT03147E |
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PAN No.: [Permanent
Account No.] |
AAACT4909N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Veterinary Medicine, Animal
Health Products, Aquacare Products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 4600000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
regular 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Ms. Apurva |
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Designation : |
Assistant Manager |
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Contact No. : |
91-9379157877 |
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Date : |
12.04.2011 |
LOCATIONS
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Registered/ Head Office/ Factory 1 : |
IS – 40, K.H.B. Industrial Area, Yelahanka New Town, |
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Tel. No.: |
91-80-28462055/ 56/ 28461241/ 42/ 28460060/ 28461521 |
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Mobile No.: |
91-9379157877 (Ms. Apoorva) |
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Fax No.: |
91-80-28461240/ 28461520 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 2 : |
C-7/22, KSSIDC (I. A) Yelahanka New Town, |
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Factory 3 : |
No. 4/8E-3, KSSIDC Industrial Estate, Dodaballapur, |
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Branches : |
Located at:
Ř Secunderabad Ř Pune Ř Noida Ř Namakkal Ř Vadodara Ř Kolkata |
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Overseas Office: |
Veerian 17-23, 3072, AN |
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Tel No.: |
+ 31 (0) 10-4239500 |
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Fax No.: |
+31 (0) 10-4239624 |
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E mail: |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Sandeep Sadashiv Karkhanis |
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Designation : |
Managing Director |
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Address : |
B-18, Sobha Emerald,
Behind Jakkur Flying Club, |
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Date of Birth/Age : |
17.05.1963 |
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Qualification : |
M.V.Sc. Ex.MBA |
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Date of Appointment : |
14.09.2009 |
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DIN No.: |
02600092 |
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Name : |
Mr. Scholman Gijsbertus
Johannes |
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Designation : |
Director |
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Address : |
Mevrouw L A W
Scholman Van Laar, Noordersingel 20, TA Barendrecht – 2993, |
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Date of Birth/Age : |
10.03.1965 |
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Date of Appointment : |
20.05.2009 |
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DIN No.: |
02655190 |
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Name : |
Mr. Van Der Laan Antonius Theodorus Christoffel |
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Designation : |
Director |
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Address : |
Loofaert, 55,
5258, SN |
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Date of Birth/Age : |
06.06.1953 |
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Date of Appointment : |
20.05.2009 |
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DIN No.: |
02655161 |
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Name : |
Mr. Crince Marcelius |
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Designation : |
Director |
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Address : |
Mevrouw JJW,
Crince Van De Wijer, Berkenheide – 2970, |
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Date of Birth/Age : |
01.08.1964 |
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Date of Appointment : |
20.05.2009 |
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Date of Ceasing: |
02.12.2010 |
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DIN No.: |
02655173 |
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Name : |
Mr. Bharat Tandon |
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Designation : |
Managing Director |
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Address : |
No. 2122, ‘D’ Block, Sahakaranagar, Kodigchalli, |
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Date of Birth/Age : |
02.11.1953 |
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Qualification : |
B. Sc. (Hons.), M.B.A. |
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Date of Appointment : |
11.03.1983 |
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Previous
Employment |
Astra-Idl Limited – Project Manager |
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Date of Ceasing
: |
31.03.2009 |
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Name : |
Mr. C. Gopalaswamy |
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Designation : |
Joint Managing Director |
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Address : |
No. 17, Sumeru AECS Layout. Ashwath Nagar Post, Gedalahalli, |
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Date of Birth/Age : |
24.07.1947 |
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Qualification : |
B. Sc. |
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Date of Appointment : |
11.03.1983 |
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Previous Employment |
Medivenk Private Limited -
Manager |
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Date of Ceasing
: |
31.03.2009 |
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Name : |
Mr. Hashmukh Tailor |
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Designation : |
Director |
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Address : |
Eastern Avenue Lichfield, Staffordshire |
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Date of Birth/Age : |
01.12.1950 |
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Date of Appointment : |
21.12.1999 |
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Date of Ceasing : |
10.08.2009 |
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Name : |
Mr. Roelof Raternik |
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Designation : |
Director |
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Address : |
Binnenmassoever, 22, 3299, L V |
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Date of Birth/Age : |
20.05.1950 |
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Date of Appointment : |
13.03.2003 |
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Date of Ceasing : |
02.07.2009 |
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Name : |
Dr. Frank Cedric Heap |
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Designation : |
Director |
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Address : |
Eastern Avenue Lichfield, |
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Date of Birth/Age : |
26.08.1939 |
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Date of Appointment : |
21.12.1999 |
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Date of Ceasing: |
14.02.2003 |
KEY EXECUTIVES
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Name : |
Ms. Sugandha |
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Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Provimi Holding B.V., The |
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495000 |
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Provimi Investment B.V, The |
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1 |
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Total |
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495001 |
Equity Share Breakup (Percentage of Total
Equity)
As on 30.09.2010
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Category |
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Percentage of Holding |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Veterinary Medicine, Animal Health
Products, Aquacare Products. |
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Products : |
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Export Countries : |
·
Bangladesh ·
Srilanka |
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Import Countries : |
China |
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PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Animal Feed Supplements |
Tons |
NA |
Not ascertained |
10403 |
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Drugs |
Tons |
NA |
Not ascertained |
674 |
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GENERAL INFORMATION
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Suppliers : |
v v v Mitsubishi Corporation, Japan v Sinochem v v v Amrith Synthetic Products v Ashchem Agrotech v Universal Packaging |
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Customers : |
Distributor,
Retailers, End Users and OEM’s v Hindustan Lever
Limited, v Godrej v SKM Animal
Feeds, v Pioneer Animal
Feeds, v Sri
Venkateswara Hatchery, v Western
Hatchery, v v Jafpa Oberoi,
Pune, |
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No. of Employees : |
450 Approximately |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Deloitte Centre, |
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Tel. No.: |
91-80-66276000 |
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Fax No.: |
91-80-66276011 |
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Holding Company : |
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Associates : |
v Aschem Agrotech Private Limited (upto 31.03.2009) v Healthline Private Limited (upto 31.03.2009) |
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Subsidiaries : |
v
Provimi Vetlanka Private Limited, |
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Fellow Subsidiaries : |
v
Nutron Alimentos Limited, v
Nutiway – v Citura v
Nu Tec SA, v
Provimi v Biovet S A v
Provimi B V, v Bonimex Bondas Importers and Exporters B.V. v Provimi Investment B.V. v
Nutec Southern v
Provimi |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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495001 |
Equity Shares (Shares are held by the holding company Provimi Holding S.V, |
Rs.100/- each |
Rs.49.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
49.500 |
49.500 |
49.500 |
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2] Share Application Money |
0.000 |
0.002 |
0.000 |
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3] Reserves & Surplus |
1111.659 |
852.737 |
636.079 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1161.159 |
902.239 |
685.579 |
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LOAN FUNDS |
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1] Secured Loans |
5.447 |
0.000 |
1.774 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
5.447 |
0.000 |
1.774 |
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DEFERRED TAX LIABILITIES |
39.146 |
34.385 |
34.870 |
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TOTAL |
1205.752 |
936.624 |
722.223 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
275.955 |
289.420 |
237.244 |
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Capital work-in-progress |
0.000 |
1.394 |
13.625 |
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INVESTMENT |
1.865 |
1.865 |
1.865 |
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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 |
293.933 |
387.575 |
289.405 |
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Sundry Debtors |
316.811 |
333.788 |
339.271 |
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Cash & Bank Balances |
555.579 |
193.085 |
118.017 |
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Other Current Assets |
4.909 |
1.409 |
0.474 |
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Loans & Advances |
361.319 |
279.928 |
208.729 |
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Total
Current Assets |
1532.551 |
1195.785 |
955.896 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
289.790 |
314.999 |
239.320 |
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Other Current Liabilities |
12.542 |
13.986 |
12.446 |
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Provisions |
302.287 |
222.855 |
234.641 |
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Total
Current Liabilities |
604.619 |
551.840 |
486.407 |
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Net Current Assets |
927.932 |
643.945 |
469.489 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1205.752 |
936.624 |
722.223 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
2217.048 |
2162.911 |
1846.132 |
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Other Income |
8.628 |
27.804 |
NA |
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TOTAL (A) |
2225.676 |
2190.715 |
NA |
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Less |
EXPENSES |
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Administrative Expenses |
1857.575 |
1867.964 |
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Advertising Expenses |
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TOTAL (B) |
1857.575 |
1867.964 |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
368.101 |
322.751 |
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Less |
FINANCIAL
EXPENSES (D) |
0.699 |
0.814 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
367.402 |
321.937 |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
23.708 |
22.173 |
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PROFIT BEFORE
TAX (E-F) (G) |
343.694 |
299.764 |
267.288 |
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Less |
TAX (H) |
84.771 |
83.106 |
78.152 |
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PROFIT AFTER TAX
(G-H) (I) |
258.920 |
216.658 |
189.136 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
714.013 |
497.355 |
NA |
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BALANCE CARRIED
TO THE B/S |
972.933 |
714.013 |
NA |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
504.221 |
426.325 |
394.534 |
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Commission Earnings |
0.100 |
0.000 |
0.346 |
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TOTAL EARNINGS |
504.321 |
426.325 |
394.880 |
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IMPORTS |
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Raw Materials |
249.936 |
364.069 |
261.589 |
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Purchase for resale |
422.358 |
438.458 |
352.448 |
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Capital Goods |
0.000 |
2.980 |
2.779 |
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TOTAL IMPORTS |
672.294 |
805.507 |
616.816
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Earnings Per
Share (Rs.) |
580 |
438 |
382 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.63 |
9.89 |
NA |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
15.50
|
13.86
|
0.14 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.00 |
20.18 |
22.40 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.33 |
0.39 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.53 |
0.61 |
0.71 |
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.53 |
2.17 |
1.97 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS:
They have become Provimi Animal Nutrition India Private Limited with
effect from 1ST of January 2010 from the erstwhile Tetragon Chemie
Private Limited
They managed a successful year with healthy growth. The growth shown in
the sales is 1.60%. They have stopped the loss making businesses in the
Divisions of Institutional, Premix and Aqua.
Poultry: post Avian
Influenza lot of people have gone out of business after incurring huge losses
and culling have token place at Broiler, Breeder, Parents level. This has
resulted into shrinkage of commercial chicks to the tune of 17%. Impact of this
was seen in non availability of Broller chicks for the commercial farmers
resulting into good rates for the broiler meet in live-bird marketing. As a result
of which integrators have earned good money in 2009-2010. The Business which
was earlier dependent on the big integrators has come down because some of the
integrators hove gone out. Inspite of this, they have mode growth in Poultry
Division and grown by 4%.
Dairy: Dairy Industry is
getting consolidated. Big Dairy Forms more than 50 Animals are mushrooming ond
it is set to take-off at this juncture. Dairy Farmers have started looking
towards Nutrition as important aspect of Dairy Farming and therefore they need
to focus in Dairy Nutrition Area. Provimi Dairy business has grown by 15% in
top line. However, because of high promotional cost, brand building, the profit
has come down.
Petcare: Petcare Industry
is growing at a CAGR of 23% p.a and they are poised to grow more thon the
Industry rate. They are seeing the benefits of bifurcation of Pet Therapetuics
and Pet food area which brought sharper focus in their respective operations.
Premix Operations: Animal Nutrition
Industry in
Coming to the Provimi Vetlanka (PVPL) operations, the initial volumes
were low. They have made losses in this Company. However, with increased
volumes for the future, they will be breokeven by next year.
They have restructured the whole organization into 3 verticals viz., Animal Nutrition, Animal Health and Citura ot bring in sharper focus. Animal Nutrition will have Polutry and Dairy premises, Animal Health Comprises of Polutry, Dairy, Petfood, Pet Therapeutics and Exports. Citura Comprises of Ingredients and Halquniol.
Financial Results:
The Company has earned total income of Rs. 2225.676 Millions as against the previous year income of Rs. 2190.715 Millions, which is higher by 1.60%.
Change of Name:
The Company’s name has been changed to Provimi Animal
Nutrition India Private Limited vide Fresh Certificate of Incorporation Consequent
upon change of name issued by the Registrar of Companies, Karnataka,
Contingent liabilities not
provided for:
|
Particulars |
31.03.2010 Rs.
in millions |
|
Letters of Credit outstanding |
137.156 |
|
Outstanding guarantees furnished by bankers |
67.465 |
|
Disputed dues against which appeals are pending a) Sales Tax |
8.389 |
|
b) Customs |
2.249 |
|
c) Income tax |
3.293 |
|
d) Others |
0.217 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24111KA1983PTC005213 |
|
Name of the
company |
PROVIMI ANIMAL NUTRITION INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
IS – 40, K.H.B. Industrial Area, Yelahanka New Town, E-Mail: akrao@vetcareindia.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90194708 |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of Mysore, Rajmahal Vilas Extension Branch, 6th "A" Cross, 10th Main Road, Sadashivanagar, Bangalore – 560 080, Karnataka, India E-Mail: rajmahal@sbm.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
1. Agreement of
Loan-Cum-Hypothecation 2. Letter of
Extension of Equitable Mortgage 3. Omnibus
Counter Guarantee. 4.General
Indemnity Agreement 4. Sanction
Letter |
|
Date of
instrument Creating the charge |
05.10.2009 |
|
Amount secured by
the charge |
Rs.150.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
CC:1% below SBM
PLR and 2% below the applicable rate i.e.11.25% floating, PC/FDBP/FUBD:3.25%
below BPLR, i.e. 9% upto 180 days, Non-Fund Based LC:20% of the applicable
charges, BG and LC Bill Discount: At extent rates Terms of Repayment: Repayable on
demand Margin: 1) Cash Credit:
a) RM-(Domestic, Imported), SIP and Finished Goods - 25%, b) Receivables - 60
days. 2) LC and BG - 5% Extent and
Operation of the charge: The charge on the
property being charged shall operate to the extent of Rs.150.000 millions
plus interest, costs, commission, expenses and other charges thereon. |
|
Short particulars
of the property charged |
a) Hypothecation
of whole of the present and future stocks and book debts, plant and
machinery, electrical installations, office equipment, computer equipments,
generators and other assets belonging to the Company. b) Deposits of
title deeds of factory land and building situated at shed No.C-7, C-22,
Industrial Estate, Yelahanka New Town, Bangalore 560 064 and land and
building at IS-40, KHB (Industrial Area), Yelahanka New Town, Bangalore 560 064 belonging to the Company. |
|
Date of latest
modification prior to the present modification |
04/05/2007 |
|
Particulars of the
present modification |
a) Credit limits
reduced from Rs.190.000 millions to Rs.150.000 millions as: Cash Credit:
Rs.30.000 millions, PC/FDBP/FUBD-Rs.10.000 millions, Letter of
Credit-Rs.100.000 millions, Bank Guarantee-Rs.10.000 millions. b) Extension of
equitable mortgage of factory land and building situated at shed No.C-7,
C-22, Industrial Estate, Yelahanka New Town, Bangalore 560 064 and land and
building at IS-40, KHB (Industrial Area), Yelahanka New Town, Bangalore 560
064 belonging to the Company. All other terms and conditions continue to
operate. |
FIXED ASSETS:
- Bore Well
- Buildings
- Buildings
Research Farm
- Computer
Equipment
- Electrical
Installations
- ETP
- Furniture and
Fixture
- Generators
and Other Assets
- Lease / Free
- Office
Equipment
- Partition
Panel
- Plant and
Machinery
- Vehicles
- R and D –
Capital Expenses
- Typewriters
- Computer
Software
WEBSITE DETAILS:
HISTORY:
1983: The Company was registered to take over the activities of the proprietorship Company with a vision to generate new ideas, concepts and products in the field of Animal Agriculture.
Their core activities were focused in the field of Animal agriculture with the
farming community in dairy, poultry and other segments like pets, equine, aqua.
1986: Petcare was started as a separate division and its sales peaked.
Petcare's flagship brand NOTIX became a well-known product among all Pet owners
and Veterinarians.
1999: They entered into a joint venture with
2000: The company started its 100% EOU to meet exports needs and also focused on manufacture of bulk drugs.
2002: Vetcare inaugurated state-of-the-art Research Farm with a broiler shed and a kennel.
2003: In keeping with their mission of being innovators in veterinary care and catering to the Animal Agriculture segment, they acquired Agvet division of Unichem Laboratories to widen its presence in the dairy sector. Also inaugurated the Effluent Treatment Plant in their chemical Unit.
2004: Expanded Extrusion Plant for specialised high quality PET FOOD.
Inaugurated the Geelan Drier for upgrading production capacity in Pet food to
cater the market needs.
2005: Expanded therapeutic plants in the factory and inaugurated the Training
Centre at the Research Farm.
PROFILE:
They Tetragon Chemie Private Limited, popularly known as Vetcare, has become a company of Provimi, a worldwide leader in Animal Nutrition. Since, they have now become an integral part of Provimi, with its global strategy, 'One Provimi', the group itself is getting ready for the future. Therefore, Tetragon Chemie Private Limited has changed its name into Provimi Animal Nutrition India Private Limited.
The new brand is represented by a new logo, which resembles an emerald, a
metaphor which stands for something that is hard to find and only becomes
precious after skilled hands shape it. The gem with its variations of
green colours is also a clear link with organic elements, showing the company's
understanding and involvement with nature. The look and feel of the new
logo is innovative, involved and reliable, thus providing Provimi with an
identity that its leading position in the market.
They are convinced that this new visual identity supports the image of Provimi
very well.
Provimi
Provimi, one of the world leaders in Animal Nutrition Solutions, Quality
Products and Services entered
Emerged as an independent Dutch multinational to be known as 'Provimi Animal
Nutrition India Private Limited', in April 2009.
Ranked as one of the top two corporates of
Operates with 4 major manufacturing units in the neighbourhood of Yelahanka,
About 450 employees are associated with Research, Formulations, Production,
Quality Compliance, Sales, Marketing, Logistics and Product Development.
Provimi has had a wide corporate presence in the Animal Nutrition. With
approximately, 80 plants spread in 30 countries and around 8000 employees,
including 450 scientists serve the clients world over. Provimi holds the
number one position in the industry because of its constant innovation and
unmatched expertise resulting from decades of experience.
Provimi is constantly working towards its mission of creating value addition
with the help of the most talented team to cope with the unseen changes that
the animal nutrition industry would witness. It is determined to strengthen
customer relationship with respect, responsibility and by providing fact based
solution and benefits, thus newly defining standards that will shape tomorrow's
nutrition industry.
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.44.30 |
|
|
1 |
Rs.73.92 |
|
Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.