1. Summary Information
|
|
|
Country |
|
|
Company Name |
DEEPAK NOVOCHEM
TECHNOLOGIES LIMITED |
Principal Name 1 |
Mr. Chimanlal Khimchand Mehta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Deepak Chimanalal Mehta |
|
|
|
Registration # |
-- |
|
Street Address |
5, Kamdar Shopping Centre, 1st Floor,
V.S. Khandekar Marg, Vile Parle (East), Mumbai – 400 057, Maharashtra |
||
|
Established Date |
31.03.2007 |
SIC Code |
-- |
|
Telephone# |
91-22-26191266 |
Business Style 1 |
Manufacturer of Cresols and Xylenols and their
Derivatives. |
|
Fax # |
91-22-26191269 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
50+ |
Product Name 2 |
-- |
|
Paid up capital |
Rs.50,000,000 |
Product Name 3 |
-- |
|
Shareholders |
Deepak Chimanalal Mehta - 2415000 |
Banking |
Corporation Bank |
|
Public Limited Corp. |
-- |
Business Period |
04 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
Associates |
Country
India |
Company
Name |
Deepak Nitrite Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
150,465,000 |
Current Liabilities |
98,165,000 |
|
Inventories |
121,052,000 |
Long-term Liabilities |
122,774,000
|
|
Fixed Assets |
196,987,000 |
Other Liabilities |
18,496,000 |
|
Deferred Assets |
-- |
Total Liabilities |
239,435,000 |
|
Invest& other Assets |
10,074,000 |
Retained Earnings |
189,143,000 |
|
|
|
Net Worth |
239,143,000 |
|
Total Assets |
478,578,000 |
Total Liab. & Equity |
478,578,000 |
|
Total Assets (Previous Year) |
379,587,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
886,811,000 |
Net Profit |
152,570,000 |
|
Sales(Previous yr) |
889,534,000 |
Net Profit(Prev.yr) |
125,352,000 |
MIRA
INFORM REPORT
|
Report Date : |
17.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
DEEPAK NOVOCHEM TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
5, Kamdar Shopping Centre, 1st Floor, V.S. Khandekar Marg, Vile
Parle (East), Mumbai – 400 057, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
31.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-169468 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2007PLC169468 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD15203G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD5796K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cresols and Xylenols and their
Derivatives. |
|
|
|
|
No. of
Employees: |
50+ |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 956572 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company started in year 2007. Turnover of the company has increased. There has been increase in profitability
of the company. Trade relations are fair. Business is active. Payments are
usually correct 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Gujarati |
|
Designation : |
Accountant |
LOCATIONS
|
Registered Office : |
5, Kamdar Shopping Centre, 1st Floor, V.S. Khandekar Marg,
Vile Parle (East), Mumbai – 400 057, Maharashtra, India |
|
Tel. No.: |
91-22-26191266 |
|
Fax No.: |
91-22-26191269 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Deepak Complex, National |
|
Tel. No.: |
91-20-66090277 / 66090290 / 66090200 |
|
Fax No.: |
91-20-26688544 / 26685448 |
|
|
|
|
Factory : |
Plot No. D/27/3/1-MIDC, Lote Parshuram Industrial Area, Taluka Khed,
District Ratnagiri – 415 722, |
|
Tel. No.: |
91-2356-272474/ 273093 |
|
Fax No.: |
91-2356-272474/ 273093 |
|
|
|
|
Head Office: |
706/708, Sharda Chanbers, New Marine Lines, Mumbai-400 020, |
|
Tel No: |
91-22-22000607/7318/6360/56315835/36 |
|
Fax No: |
91-22-22003476 |
|
Email : |
|
|
|
|
|
Branch Office 1: |
11, Venu-Madhav, 104/7, Off Lane No. 14, |
|
Tel No: |
91-20-25433704 |
|
Fax No: |
91-20-25420212 |
|
Email: |
|
|
|
|
|
Branch Office 2: |
No. 12, |
|
Tel No: |
91-80-51105357 |
|
Email: |
DIRECTORS
AS ON 03.09.2010
|
Name : |
Mr. Chimanlal Khimchand Mehta |
|
Designation : |
Director |
|
Address : |
Kejriwal House, 7-N, |
|
Date of Birth/Age : |
06.04.1932 |
|
Date of Appointment : |
31.03.2007 |
|
|
|
|
Name : |
Mr. Deepak Chimanalal Mehta |
|
Designation : |
Director |
|
Address : |
Kejriwal House, |
|
Date of Birth/Age : |
12.12.1956 |
|
Date of Appointment : |
31.03.2007 |
|
|
|
|
Name : |
Ms. Ila Deepak Mehta |
|
Designation : |
Director |
|
Address : |
Kejriwal House, |
|
Date of Birth/Age : |
21.12.1958 |
|
Date of Appointment : |
06.08.2007 |
|
|
|
|
Name : |
Mr. Sanjay B. Upadhyay |
|
Designation : |
Director |
|
Address : |
A-3, 403, Acolade, Hadapsar Chandan Nagar, Bypass, Kharadi, Pune –
411014, |
|
Date of Birth/Age : |
20.07.1961 |
|
Date of Appointment : |
14.09.2007 |
|
|
|
|
Name : |
Mr. Anand B. Hunoor |
|
Designation : |
Director |
|
Address : |
B-3, Omduttaprakash CHS, Sant Namdeo Path, Lane No. 2, Dombivali
(East), Thane – 421201, |
|
Date of Birth/Age : |
25.06.1963 |
|
Date of Appointment : |
14.09.2007 |
|
|
|
|
Name : |
Mr. Shripad P. Gumaste |
|
Designation : |
Director |
|
Address : |
26 Sant Sopandeo Society, Santnagar, Pune – 411009, |
|
Date of Birth/Age : |
24.04.1965 |
|
Date of Appointment : |
14.09.2007 |
|
|
|
|
Name : |
Mr. Pramod Narayan Karlekar |
|
Designation : |
Director |
|
Address : |
Sachatma Society, Building No. 1, Flat #B 2, |
|
Date of Birth/Age : |
23.07.1959 |
|
Date of Appointment : |
14.09.2007 |
|
|
|
|
Name : |
Mr. Arvind Rajendra Bajpai |
|
Designation : |
Director |
|
Address : |
487, Gaurihar Society, Shukravar Peth, Lane 1, Subhash Nagar, Pune –
411002, |
|
Date of Birth/Age : |
16.02.1972 |
|
Date of Appointment : |
19.03.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Gujarati |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 03.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Chimanalal Mehta |
|
2415000 |
|
Chimanlal Khimchand Mehta |
|
5000 |
|
ILa Deepak Mehta |
|
2260000 |
|
Maulik Deepak Mehta |
|
10000 |
|
Meghav Deepak Mehta |
|
9800 |
|
Rohit Prabhudas Shah |
|
100 |
|
Deepak Amratlal Desai |
|
100 |
|
Chimanlal K. Mehta |
|
100000 |
|
Shripad P Gumaste |
|
100000 |
|
Anand B Hunoor |
|
100000 |
|
Total |
|
5000000 |
AS ON 03.09.2010
|
Equity share
breakup |
|
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cresols and Xylenols and their
Derivatives. |
||||||||
|
|
|
||||||||
|
Products : |
Ř
Ortho Cresol Ř
TMP Ř
TMBPS Ř
OMT Ř
2-6 Xylenol Ř
TMBPA Ř
OMCHA Ř
Mix Xylenol Ř
Glycidyl Ethers |
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Agro Chemicals, Antioxidants, Dyes, Resins |
||||||||
|
Countries : |
Far East, Europe, |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
L/C, Cash and Credit 30/ 60 days |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit 30/ 60 days |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Composite Capacity |
MT |
4500 |
5952 |
4112 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
50+ |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Ř
Corporation
Bank, Industrial Finance Branch No. 14, Ř
Export Import Bank of |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B K Khare and Company Chartered Accountant |
|
Address : |
706/708, Sharda Chanbers, New Marine Lines, Mumbai – 400 020, |
|
Tel. No.: |
91-22-2200607/7318/6360/56315835/36 |
|
Fax No.: |
91-22-22003476 |
|
E-Mail : |
|
|
|
|
|
Associates: |
Ř
Blue Shell Investments Private Limited Ř
Checkpoint Credits and Capital Private Limited Ř
Deepak Nitrite Limited Ř
Deepak Fertilisers and Petrochemicals Corporation
Limited Ř
Deepak Medical Foundation Ř
Deepak Asset Reconstruction Private Limited Ř
Forex Leaf in Private Limited Ř
Grey Point Investments Private Limited Ř
Hardik Leafin Private Limited Ř
Pranava Leatin Private Limited Ř
Skysore Finvest Private Limited Ř
Sot otel Software Services Private Limited Ř
Stepup Credits and Capital Private Limited Ř
Storewell Credits and Capital Private Limited Ř
Stitfen Credits and Capital Private Limited Ř
Stigma Credits and Capital Private Limited Ř
Sundown Finvest Private Limited Ř
The Lakaki Works Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Share |
Rs.10/- Each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Share |
Rs.10/- Each |
Rs.50.000
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 |
|
|
|
|
|
1] Share Capital |
50.000 |
50.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
189.143 |
95.071 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(15.606) |
|
|
NETWORTH |
239.143 |
145.071 |
34.394 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
122.774 |
94.775 |
109.354 |
|
|
2] Unsecured Loans |
0.000 |
27.000 |
27.000 |
|
|
TOTAL BORROWING |
122.774 |
121.775 |
136.354 |
|
|
DEFERRED TAX LIABILITIES |
18.496 |
10.712 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
380.413 |
277.558 |
170.748 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
196.987 |
154.051 |
116.897 |
|
|
Capital work-in-progress |
10.074 |
1.697 |
4.738 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
6.889 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
121.052
|
115.135 |
93.942 |
|
|
Sundry Debtors |
83.993
|
54.637 |
23.972 |
|
|
Cash & Bank Balances |
2.070
|
4.279 |
3.079 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
64.402
|
49.788 |
45.052 |
|
Total
Current Assets |
271.517
|
223.839 |
166.045 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
82.703
|
54.174 |
79.741 |
|
|
Other Current Liabilities |
14.144
|
14.934 |
43.777 |
|
|
Provisions |
1.318
|
32.921 |
0.303 |
|
Total
Current Liabilities |
98.165
|
102.029 |
123.821 |
|
|
Net Current Assets |
173.352
|
121.810 |
42.224 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
380.413 |
277.558 |
170.748 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
886.811 |
889.534 |
144.373 |
|
|
|
Other Income |
15.007 |
3.752 |
0.102 |
|
|
|
TOTAL |
901.818 |
893.286 |
144.475 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material |
386.520 |
470.228 |
153.505 |
|
|
|
Employees remuneration and benefits |
36.406 |
26.891 |
9.321 |
|
|
|
Operating expenses |
149.356 |
147.130 |
31.795 |
|
|
|
Administrative, selling and general expenses |
47.065 |
45.165 |
6.544 |
|
|
|
R and D Expenses |
3.499 |
0.000 |
0.000 |
|
|
|
Increase / (decrease) in stocks |
15.659 |
(41.075) |
(46.800) |
|
|
|
TOTAL |
638.505 |
648.339 |
154.365 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE EXCEPTIONAL ITEMS |
263.313 |
244.947 |
(9.890) |
|
|
|
|
|
|
|
|
|
Less |
INTANGIBLE
ASSETS WRITTEN OFF |
0.000 |
13.375 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
263.313 |
231.572 |
(9.890) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.725 |
24.823 |
8.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
241.588 |
206.749 |
(18.282) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.898 |
6.365 |
4.136 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
231.690 |
200.384 |
(22.418) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
79.120 |
75.032 |
(6.812) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
152.570 |
125.352 |
(15.606) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
82.571 |
(15.606) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15.300 |
12.500 |
0.000 |
|
|
|
Proposed Dividend on Equity Shares |
0.000 |
10.000 |
0.000 |
|
|
|
9% Dividend on OCCPS |
0.000 |
2.542 |
0.000 |
|
|
|
Interim Dividend Paid |
50.000 |
0.000 |
0.000 |
|
|
|
Dividend Distribution Tax |
8.497 |
2.131 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
161.343 |
82.571 |
(15.606) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
152.674 |
210.948 |
80.301 |
|
|
TOTAL EARNINGS |
152.674 |
210.948 |
80.301 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
113.980 |
40.285 |
9.688 |
|
|
TOTAL IMPORTS |
113.980 |
40.285 |
9.688 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.51 |
39.42 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
16.92
|
14.03 |
(10.80) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
26.13
|
22.53 |
(15.53) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
49.45
|
53.03 |
(6.73) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.97
|
1.38 |
(0.65) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.92
|
1.54 |
7.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.77
|
2.19 |
1.34 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF THE YEAR
Financial Year 2009 -10
has been the year of consolidation for the Company. The Company focused on cost
reduction exercise in anticipation of reduction in realizations for its major
products.
The Company recorded a
turnover of Rs. 901.800 Millions during the year ended 31st March, 2010, a marginal increase as compared to Rs. 893.300 Millions
in the previous year. However, the Earning before Interest, Tax, Depreciation
and amortization of Rs. 261.400 Millions during the year showed a healthy
improvement over that of Rs. 229.500 Millions in the previous year and Profit
after Tax increased by almost 22% during the year to Rs. 152.600 Millions as
compared to Rs. 125.400 Millions for the previous year.
The increase in Earnings
before Interest, Tax, Depreciation and amortization and Profit after Tax for
the Company during the year was a result of increase in sales volume for its
key products and cost reduction measures taken by the Company though the prices
for the products of the Company were under significant pressure due to
recessionary conditions prevailing in the markets during the year.
During the year, the Company
worked aggressively on the new products and new markets for the existing
products. The Company is hopeful that this strategy would create major
opportunities in the coming years.
The Company has set up a
state-of-the-art Research and Development facility at its Lote site during the
financial year 2009-10, which would provide big impetus to The Company’s plans
of developing products based on innovative technologies.
FORM 8:
|
Corporate identity number of the company |
U24100MH2007PLC169468 |
|
Name of the company |
DEEPAK NOVOCHEM TECHNOLOGIES LIMITED |
|
Address of the registered office or of the
principal place of business in |
5, Kamdar Shopping Centre, 1st Floor, V.S. Khandekar Marg, Vile
Parle (E), Mumbai – 400057, Maharashtra India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of charge holder |
EXPORT-IMPORT BANK OF INDIA |
|
Nature of instrument creating charge |
Unattested Deed of Hypothecation of
Moveable Assets dated 14.03.11 executed by Deepak Novochem Technologies
Limited (the "Borrower") in favour of Export Import Bank of India
(Exim Bank),a copy whereof is attached hereto. |
|
Date of instrument Creating the charge |
14/03/2011 |
|
Amount secured by the charge |
Rs.100.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest The per annum rate of 12.00% payable at
monthly rest subject to reset of interest rate in accordance with the
provision of Schedule-II-A of the Loan Agreement dated 14/03/2011. Terms of Repayment Unless the Borrower shall prepay the loan
in pursuance of Schedule-II-A of the Loan Agreement, the Loan Shall be repaid
by the Company in 8 (eight) substantially equal half yearly installments,
commencing after one year from the date of first disbursement, or such other
date closer to that date as may be advised by Exim Bank at the time of making
first disbursement. Margin 28.57% Extent and Operation of the charge The charge created under the aforesaid
Deed of Hypothecation in favour of Exim Bank shall operate as a continuing
security by way of first charge over the Borrower's entire movable fixed
assets both present and future, and as a second charge over the entire
current assets both present and future
for the due repayment of the loan together with interest and, all other
monies payable by the Borrower to Exim Bank under the Loan Agreement. |
|
Short particulars of the property charged |
Borrower's entire movable fixed assets and
current assets described in Schedule III of Deed of Hypothecation attached
hereto. |
FIXED ASSETS:
Ř
Non Compete Fees
Ř
Ř
Roads
Ř
Ř
Ř
Plant and Machinery
Ř
Office Equipments
Ř
Furniture and Fixture
Ř
Computer System
Ř
Vehicles
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 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.45.24 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
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.