MIRA
INFORM REPORT
|
Report Date : |
02.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCE PETROCHEMICALS LIMITED |
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Registered
Office : |
36, Kothari Market, Opposite Hirabhai Market, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.08.1985 |
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Com. Reg. No.: |
04-8013 |
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Capital
Investment / Paid-up Capital : |
Rs.9.000 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
L23200GJ1985PLC008013 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA00184C |
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PAN No.: [Permanent Account No.] |
AACCS6498P |
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Legal Form : |
Public Limited Liability Company. The company’s shares are listed on the
Stock Exchanges. |
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Line of Business
: |
Manufacturer and Supplier of surface Active agent (Surfactant
or Emulsifier), Solvents, Alkyl Aryl Ethanolamine, Ethanolamine, Automotive
products and Aircraft chemicals. |
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|
|
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 48000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, Trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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) |
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|
A1 |
A1 |
|
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 |
LOCATIONS
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Registered Office : |
36, Kothari Market, Opposite Hirabhai Market, |
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Tel. No.: |
91-79-25454795 / 25450609 |
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Fax No.: |
91-79-25454586 |
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E-Mail : |
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Website : |
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Factory : |
Pirana Road, Piplej, Ahmedabad – 382 405, |
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Tel. No.: |
91-79-25733537 / 25711218 / 25715196 / 25733224 |
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Fax No.: |
91-79-25710027 |
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E-Mail : |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Ashok Goenka |
|
Designation : |
Chairman and
Managing Director |
|
Address : |
20, Nutan Society,
Near Mahalaxmi Char Rasta, Paldi, Ahmedabad, |
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Date of Birth/Age : |
16.04.1933 |
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Date of Appointment : |
09.09.1985 |
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DIN No. : |
00086925 |
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Name : |
Mr. Arvind Goenka |
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Designation : |
Director |
|
Address : |
20, Nutan Society,
Near Mahalaxmi Char Rasta, Paldi, Ahmedabad, |
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Date of Birth/Age : |
01.07.1962 |
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Date of Appointment : |
20.11.1997 |
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DIN No. : |
00093200 |
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Name : |
Mr. Jitendra Trivedi |
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Designation : |
Director |
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Address : |
35, Sakan Twins, |
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Date of Birth/Age : |
23.05.1943 |
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Date of Appointment : |
09.02.1988 |
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DIN No. : |
00176500 |
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Name : |
Mr. Shailesh Singh Rajput |
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Designation : |
Director |
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Address : |
41, Gaurav
Bunglow, Opp. Sindhvi Mata Mandir, Ramol, CTM, Ahmedabad, |
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Date of Birth/Age : |
02.05.1967 |
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Date of Appointment : |
16.02.2001 |
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DIN No. : |
00176962 |
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Name : |
Mr. Omprakash Jalan |
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Designation : |
Director |
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Address : |
17, Swaraj Nagar Society,
B/h C N Vidhyalaya, Opp. Munekbaug, Ambawadi, Ahmedabad, Gujarat, India |
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Date of Birth/Age : |
14.04.1950 |
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Date of Appointment : |
30.07.2002 |
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DIN No. : |
00176876 |
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Name : |
Mr. Gaurav Mittal |
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Designation : |
Director |
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Address : |
Mittal House, B/h
Goyal Tower, Ambawadi, Ahmedabad – 380 015, |
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Date of Birth/Age : |
30.04.1980 |
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Date of Appointment : |
30.07.2002 |
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Date of Ceasing : |
12.05.2011 |
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DIN No. : |
00345483 |
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Name : |
Mr. Nirish Jagabhai
Parikh |
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Designation : |
Additional
Director |
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Address : |
E/11, Takshashila
Flats, Vastrapur, Ahmedabad – 380 015, |
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Date of Birth/Age : |
02.07.1955 |
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Date of Appointment : |
12.05.2011 |
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DIN No. : |
03506494 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.06.2011
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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|
115300 |
12.81 |
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335550 |
37.28 |
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|
450850 |
50.09 |
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Total shareholding of Promoter and Promoter Group (A) |
450850 |
50.09 |
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(B) Public Shareholding |
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|
5450 |
0.61 |
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443700 |
49.30 |
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|
449150 |
49.91 |
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Total Public shareholding (B) |
449150 |
49.91 |
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Total (A)+(B) |
900000 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
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|
- |
- |
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|
- |
- |
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- |
- |
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Total (A)+(B)+(C) |
900000 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 MillionAs on 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Bodies
corporate |
|
37.90 |
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Directors
or relatives of directors |
|
12.81 |
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Other
top fifty shareholders |
|
19.46 |
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Others
|
|
29.83 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of surface Active agent
(Surfactant or Emulsifier), Solvents, Alkyl Aryl Ethanolamine, Ethanolamine,
Automotive products and Aircraft chemicals. |
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|
|
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Product : |
·
Aero Engine Coolant ·
Aero Fuel - Anti Freeze ·
Air Brake - Anti Freeze ·
Anti Seize (Water
Soluble) ·
Antifreeze Coolant or
Radiator Coolant ·
Brake Fluid ·
Car Care Products ·
Coolant `B’ - Summer Coolant ·
Corrosion Inhibitor For
Transport And Storage ·
Corrosion Inhibitor For
Water System ·
Demulsifier Or
Emulsion-Breaker ·
Ethylene Glycol
Monomethyl Ether ·
Ethylene Glycol
Monobutyl Ether ·
Ethylene Glycol
Monoethyl Ether ·
Diethylene Glycol Monomethyl Ether ·
Diethylene Glycol
Monobutyl Ether ·
Diethylene Glycol
Monoethyl Ether ·
Fuel System Icing
Inhibitor - Dicing ·
Fire Resistant
Hydraulic Fluid Ie (Invert Emulsion) ·
Fire Resistant Hydraulic
Fluid Ph (Phosphate Ester) ·
Fire Resistant
Hydraulic Fluid Wg (Glycol) ·
Fire Resistant
Hydraulic Fluid Te (Water) ·
Gas - Line Antifreeze
And Water Remover ·
Hvac- Chiller - Coolant ·
Metal Working Fluid -
CENLUB ·
N-Methyl Diethanolamine
- MDEA ·
Mono Methyl
Ethanolamine - MMEA ·
Mri Coolant ·
Non Ionic Surfactant -
Surface Active Agent ·
Plasma – Torch Coolant ·
Plumbing Coolant ·
Polyethylene Glycols -
PEG ·
Radiator Cleaner ·
Rubber Lubricant ·
Solar Coolant ·
Weldcool - Torch
Coolant ·
Windshield Washer Fluid |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Finished Goods Chemicals |
Qty. (Kg./Ltr.) |
NA |
NA |
885867 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of Bhadra Branch, Bhadra, Ahmedabad – 380
001, ·
Ahmedabad District Co. Bank ·
Standard Chartered Bank ·
State Bank of Saurashtra |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Pipara and Company Chartered Accountant |
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Address : |
201, N R House, Near Popular House, |
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Associates : |
Advance Multitech Limited |
CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
900000 |
Equity Shares |
Rs.10/- each |
Rs.9.000
Millions |
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 |
|
|
|
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|
1] Share Capital |
9.000 |
9.000 |
9.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.388 |
4.507 |
4.640 |
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4] (Accumulated Losses) |
(1.271) |
(2.503) |
(0.054) |
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NETWORTH |
12.117 |
11.004 |
13.586 |
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|
LOAN FUNDS |
|
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|
1] Secured Loans |
7.418 |
7.047 |
3.889 |
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2] Unsecured Loans |
10.498 |
10.000 |
14.683 |
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TOTAL BORROWING |
17.916 |
17.047 |
18.572 |
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DEFERRED TAX LIABILITIES |
0.398 |
0.320 |
0.197 |
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|
|
|
|
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TOTAL |
30.431 |
28.371 |
32.355 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.662 |
18.449 |
8.695 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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INVESTMENT |
3.596 |
3.596 |
3.596 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.116
|
4.804
|
1.165 |
|
|
Sundry Debtors |
10.348
|
7.128
|
7.161 |
|
|
Cash & Bank Balances |
2.301
|
1.281
|
3.827 |
|
|
Other Current Assets |
0.732
|
1.012
|
0.764 |
|
|
Loans & Advances |
2.577
|
2.603
|
18.953 |
|
Total
Current Assets |
22.074
|
16.828
|
31.870 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.790
|
9.303 |
11.294 |
|
|
Other Current Liabilities |
0.767
|
0.823
|
0.347 |
|
|
Provisions |
0.344
|
0.464
|
0.340 |
|
Total
Current Liabilities |
12.901
|
10.590
|
11.981 |
|
|
Net Current Assets |
9.173
|
6.238
|
19.889 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.088 |
0.175 |
|
|
|
|
|
|
|
|
TOTAL |
30.431 |
28.371 |
32.355 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
63.318 |
40.601 |
36.808 |
|
|
|
Other Income |
3.369 |
2.570 |
2.113 |
|
|
|
TOTAL (A) |
66.687 |
43.171 |
38.921 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Production |
56.325 |
39.492 |
34.409 |
|
|
|
Personnel Expenses |
2.037 |
1.506 |
2.108 |
|
|
|
Administrative and Other Expenses |
2.049 |
2.519 |
2.937 |
|
|
|
Selling and Distribution Expenses |
1.947 |
1.075 |
1.683 |
|
|
|
Increase / (Decrease) in Stock of Finished Goods |
0.280 |
(0.775) |
4.534 |
|
|
|
TOTAL (B) |
62.638 |
43.817 |
45.671 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.049 |
(0.646) |
(6.750) |
|
|
|
|
|
|
|
|
|
Less |
FINANCE EXPENSES (D) |
1.337 |
1.046 |
1.597 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.712 |
(1.692) |
(8.347) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.370 |
0.585 |
0.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
1.342 |
(2.277) |
(8.665) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.032 |
0.049 |
4.168 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-H) (I) |
1.310 |
(2.326) |
(12.833) |
|
|
|
|
|
|
|
|
|
Add / Less |
DEFERRED TAX
ASSET / LIABILITY OF THE YEAR |
(0.078) |
(0.123) |
4.181 |
|
|
|
|
|
|
|
|
|
|
|
1.232 |
(2.449) |
(8.652) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.503) |
(0.054) |
8.598 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1.271) |
(2.503) |
(0.054) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.431 |
13.300 |
1.115 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.37 |
(2.72) |
(9.63) |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
13.080 |
20.340 |
11.220 |
14.360 |
|
Total Expenditure |
12.370 |
19.270 |
10.560 |
13.030 |
|
PBIDT (Excl OI) |
0.710 |
1.070 |
0.660 |
1.330 |
|
Other Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
0.710 |
1.070 |
0.660 |
1.330 |
|
Interest |
0.250 |
0.190 |
0.420 |
0.410 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
0.460 |
0.880 |
0.240 |
0.920 |
|
Depreciation |
0.170 |
0.400 |
0.110 |
0.470 |
|
Profit Before Tax |
0.290 |
0.480 |
0.130 |
0.450 |
|
Tax |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
0.290 |
0.480 |
0.130 |
0.450 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.040 |
0.040 |
(0.040) |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
0.290 |
0.440 |
0.090 |
0.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.96
|
(5.39) |
(32.97) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.12
|
(5.61) |
(23.54) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.38
|
(6.45) |
(21.36) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
(0.21) |
(0.64) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.54
|
2.51 |
2.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71
|
1.59 |
2.66 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION
During the year
the company have registered a sales turn over of Rs.66.408 millions in
comparison to the figure of Rs.44.019 millions of the previous year. As a
result of increase in sales turnover, net profit after tax has also increased
to Rs.1.310 millions as compared to Rs.(2.326) millions of the previous
year.
FORM 8
|
Corporate identity number of the company |
L23200GJ1985PLC008013 |
|
Name of the company |
ADVANCE PETROCHEMICALS LIMITED |
|
Address of the registered office or of the principal place of business in |
36, Kothari Market, Opposite Hirabhai Market, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90101327 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
State Bank of Bhadra Branch, Bhadra, Ahmedabad – 380 001, |
|
Nature of instrument creating charge |
extension of mortgage by constructive deposit of title deeds |
|
Date of instrument Creating the charge |
10.12.2009 |
|
Amount secured by the charge |
Rs.13.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Cash Credit: 1.50% above BPLR presently 15.50% p.a. EPC : 2.50% below BPLR i.e. 11.50% p.a. at present MTL : 1.50% above BPLR presently 15.50% p.a. Terms of Repayment Term Loan shall be repayable in 60 equal installments with a
moratorium of 4 months from the date of first disbursement i.e. October,
2008, starting from March, 2009. The style of repayment will be 59 equal
monthly installments of Rs.0.084 million each and the concluding installment
will be Rs.0.044 million. Margin 25% on Raw materials (Domestic
and imported) 50% on Stock in Process 30% on Finished goods 40% on Receivables (Cover 90 days) Letter of Credit Usance 90 days : 20%
Demand: 15% BG : 15% Extent and Operation of the charge The Charge shall operate as first charge in favour of SBI on the
assets mortgaged/hypothecated |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
All that piece or parcel of Immovable Property of Factory Shed with
construction thereon on land bearing Sruvey No.251 situated at Mouje: Ishanpur,
Taluka: City Dist: Ahmedabad and Sub Dist: Ahmedabad |
|
Particulars of the present modification |
There is no change in total credit facilities of Rs.13.000 millions
but this agreement is being filed on account of reason of Extension of
Mortgage by Constructive Delivery of title deed dtd. 10/12/2009. |
FIXED ASSETS
·
Computer
·
·
·
Furniture and Fixture
·
Machinery Scrap
·
Office Equipment
·
Plant and Machinery (Piplej)
·
Vehicles
WEB DETAILS
Subject,
is a pioneer exporter, manufacturer, stockiest, wholesaler, producers,
supplier, distributor and dealer in specialized chemicals used in Automobile,
Air Craft, Textile, Refinery, Crude oil, Leather, Pesticide, Paint, Lubricant,
Wood, Masonry, Food, Cosmetic, Pharmaceutical, Metal, construction, Power
plant, Mine and Mineral.
Automobile :
They are manufacturing Automobile products like 3 Brake DOT Fluid,
4 Brake DOT
Fluid, 5 Brake DOT Fluid, 5.1 Brake DOT,
Extended life - Antifreeze
Coolant or Radiator
Coolant , Automobile maintenance chemicals like Radiator Cleaner,
Windshield Washer Fluid
and Car care products
like Brake Cleaner, Engine Cleaner,Penetratiing Oil, metal polsih, car polish ,
car wash, Tires and Wheel Cleaner, Spot Remover, Noise Reducer, Plastic
Cleaner, Radiator Conditioner and Supplementary Coolant additive etc.
Industrial Coolant and Anti Freeze : Air Fuel – Anti Freeze, Air Brake – Anti Freeze, Gas Line Anti Freeze, Aero Engine – Coolant, CNC Coolant, MRI Coolant, Plumbing Coolant, Submersible Coolant, Welding Coolant, Solar Coolant, Plasma Coolant, HVAC Coolant.
Industrial products : Corrosion
Inhibitor for Transport and Storage, Corrosion
Inhibitor for Water System, Rubber
Lubricant, Anti Seize (Water Soluble).
Surfactant : Anionic and Ionic an, Nonionic and Ionic non, Cationic - Ionic cat, Emulsifier, Surface Active Agent,
Demulsifier or Emulsion
Breaker and gas treatment.
Amines: Triethanolamine - TEA,
N-Methyl Diethanolamine - MDEA,
Mono Methyl Ethanolamine - MMEA.
Solvents: Ethylene Glycol Monomethyl
Ether and Methyl Cellosolve, Diethylene Glycol Monomethyl Ether and Methyl
Carbitol, Ethylene Glycol Monobutyl Ether and
Butyl
Cellosolve, Diethylene
Glycol Monobutyl Ether and Butyl
Carbitol, Ethylene Glycol Monoethyl Ether and
Ethyl
Cellosolve, Diethylene
Glycol Monoethyl Ether and Ethyl
Carbitol, Polyethylene Glycol and PEG
and Glycol Poly Ethylene.
Aircraft Chemical: FSII and Ethylene
Glycol Monomethyl Ether and Diethylene
Glycol Monomethyl Ether; Icing Inhibitor and Dicing Inhibitor.
Fire resistant Fluid: Based upon Phosphate Ester, glycol, Water and Invert Emulsion .
The product meets the standard specification or the specification. The
special chemical can be supplied as per customer requirement.
PROFILE
Subject is a pioneer manufacturing company
and supplier of surface Active agent (Surfactant or Emulsifier), Solvents,
Alkyl Aryl Ethanolamine, Ethanolamine, Automotive products and Aircraft
chemicals.
Subject is supplying these products to
various industries like Textile, Mineral oil, Pesticide, Leather, Paper,
Pharmaceutical, Man made fabric, Paint, Automobile, Aircraft, Refinary, etc.,
as a raw material or an Auxiliary chemical.
Subject has a tremendous history that
encompasses almost 20 years with new advance in technology, new eluviations to innovative
ideas. Initially this company had started as partner - ship concern and formed
a public limited company in 1985. First the company had concentrated on textile
and leather industries but gradually it’s started manufacturing various
products based upon Ethylene Oxide.
Manufacturing
unit of company is situated in outskirt of Ahmedabad. Ahmedabad is not only a
mega city in
Subject is a subsidiary company of Advance
group, which is engaged in many type of business activities in various field
like Rubber, Textile Processing, Textile weaving, Rubber belt, Conveyor belt,
Rubber Coated fabric and Rubber Sheet, etc. The group is also dealing in Indian
medicinal and food additive herbs.
The
Company is managed by group of persons namely Managing Director, Director of
Sales, Technical, Production, and Purchase etc. Each director has wide
experience and specialization in his field.
Since
last 20 years subject has been supplying products
with very high quality, hence its products are now considered as standard
products.
Subject always gives more importance on
quality and service. To maintain its quality company produces all material from
basic raw material to final product. Or produce another place in presence and
guidance of company technician to give a third party guarantee.
Company
has accredited ISO 9001-2001 in year 2001 and other certifications are in
progress. They are offering the product in most competitive price and best
quality compared to others. Subject has developed the
best economical and effective product with its own research and development and
always catering the customer’s requirement and need.
Subject is always in constant evolution in
order to offer an advanced technology and best product at all times. Now a day,
the products are known as guaranteed products along with its reliability.
Subject commits to quality improvement, as
the improvement process is evolutionary. They are always striving to achieve
the goal, maintain quality and ultimately push the final product as per
international standard of excellence. They always try to add new product in the
product range in regular fields as well as in new fields.
Subject products are committed to create
premium product that offer superior performance without disturbing environment.
The fundamental aim is to satisfy our customer with the best possible product
and service to enjoy the work.
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.44.05 |
|
|
1 |
Rs.72.40 |
|
Euro |
1 |
Rs.63.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.