Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
CAPSUGEL
HEALTHCARE LIMITED |
Principal Name 1 |
Mr.
Madan Madhav Joshi |
|
Status |
Moderate |
Principal Name 2 |
Ms.
Siriporn Sridech |
|
|
|
Registration # |
05-020151 |
|
Street Address |
21, Joniawas,
Dharuhera, Rewari – 122 100, Haryana, India |
||
|
Established Date |
13.12.1982 |
SIC Code |
-- |
|
Telephone# |
91-1274-267092 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-1274-267168 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Hard Gelantine Capsule Shells |
|
|
# of employees |
500 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
1,014,053,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate- 99.51% Other top fifty
shareholders-0.06% Others-0.43% |
Banking |
State Bank of
Indore |
|
Public Limited Corp. |
Yes |
Business Period |
29 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (31) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow Subsidiaries |
France |
Capsugel France |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
219,070,000 |
Current Liabilities |
334,858,000 |
|
Inventories |
93,549,000 |
Long-term Liabilities |
438,956,000 |
|
Fixed Assets |
727,935,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
773,814,000 |
|
Invest& other Assets |
26,626,000 |
Retained Earnings |
36,334,000 |
|
|
|
Net Worth |
293,366,000 |
|
Total Assets |
1,067,180,000 |
Total Liab. & Equity |
1,067,180,000 |
|
Total Assets (Previous Year) |
922,577,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
223,034,000 |
Net Loss |
(138,721,000) |
|
Sales(Previous yr) |
183,228,000 |
Net Loss(Prev.yr) |
(225,156,000) |
MIRA
INFORM REPORT
|
Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
CAPSUGEL HEALTHCARE LIMITED (w.e.f.21.07.2006) |
|
|
|
|
Formerly Known
As : |
BHARTI HEALTH CARE LIMITED |
|
|
|
|
Registered
Office : |
21, Joniawas, Dharuhera, Rewari – 122 100, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.12.1982 |
|
|
|
|
Com. Reg. No.: |
05-020151 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1014.053 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110HR1982PLC020151 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKB01767D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB6447R |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business
: |
Manufacturer of Hard Gelantine Capsule Shells. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Pfizer Group. It is an established company having
moderate track records. Profitability of the company is under severe
pressure. The company has huge accumulated losses. 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 caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office Manufacturing Plant/Sales
Offices : |
21, Joniawas, Dharuhera, Rewari – 122 100, |
|
Tel. No.: |
91-1274-267092
/ 93 / 97 / 99 |
|
Fax No.: |
91-1274-267168 |
|
E-mail: |
|
|
Website : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr.
Madan Madhav Joshi |
|
Designation : |
Managing Director |
|
Address : |
2A/601, Siddhachal Phase-I, Pokharan Road II, Thane-400610, Maharashtra,
India |
|
Date of Birth/Age : |
03.02.1956 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No : |
02262057 |
|
|
|
|
Name : |
Mr.
Vanchai Santimanochai |
|
Designation : |
Director |
|
Address : |
110/997, Rama 2, Moo 6, samaedum Bangkhuntein, Bangkok-10150, Thailand |
|
Date of Birth/Age : |
10.10.1955 |
|
Date of Appointment : |
20.12.2005 |
|
DIN No : |
00024202 |
|
|
|
|
Name : |
Mr.
Guido Edouard Driesen |
|
Designation : |
Director
|
|
Address : |
5, wright Lane, Far Hills, New Jersey, United States of America-07931 |
|
Date of Birth/Age : |
29.11.1956 |
|
Date of Appointment : |
20.12.2005 |
|
DIN No : |
00041915 |
|
|
|
|
Name : |
Ms.
Siriporn Sridech |
|
Designation : |
Director |
|
Address : |
Krisadanakorn, 31, 140/6, Moo 11, Soi Rasamee 2/9, Baromrajjachonnanee
Road, Thaweewattana, Bangkok-10170, Thailand |
|
Date of Birth/Age : |
08.05.1965 |
|
Date of Appointment : |
20.12.2005 |
|
DIN No : |
00046061 |
|
|
|
|
Name : |
Mr. Darshak Rashmikant Pandya |
|
Designation : |
Director |
|
Address : |
Arjun Aprtments, E-Wing, Flat No.401, Indraprasth Enclave N. L.
complex, Anand Nagar, Dahisar (East), Mumbai-400068, Maharashtra, India |
|
Date of Birth/Age : |
08.02.1973 |
|
Date of Appointment : |
24.03.2010 |
|
DIN No : |
02967092 |
KEY EXECUTIVES
|
Name : |
Mr.
Narendra Nath Batabyal |
|
Designation : |
Company Secretary |
|
Address : |
F-1/148, Mahavir Enclave, New Delhi-110045, Delhi, India |
|
Date of Birth/Age : |
14.06.1957 |
|
Date of Appointment : |
11.08.2008 |
|
PAN No.: |
AADPB7891F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.07.2011
|
Names of Allottees |
No. of Shares |
|
Pfizer Pharmaceutical India Private Limited,
India |
92300000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
99.51 |
|
Other top fifty shareholders |
0.06 |
|
Others |
0.43 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hard Gelantine Capsule Shells |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Capsules |
No. in thousand |
6000000 |
5550000 |
3445657 |
|
|
|
|
|
|
Notes:
i) Production
meant for sale is after shortages, handling losses and excludes quantity
internally consumed if any.
ii) Installed capacity
disclosed is on an annual basis.
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
State Bank of Indore, Green Park, New
Delhi-110016, Delhi, India ·
IDBI Bank Limited, 19, K. G. Marg, New Delhi,
Delhi, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Note: * including
interest accrued and due Rs.43.956 millions (Previous year Rs.23.332
millions). [Repayable within one year Rs.438.956 millions (Previous year Rs.128.332
millions)] # the amount represents
interest free sales tax deferrement loan. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountant |
|
Address : |
4B, DLF, Corporate Park, DLF, City, Phase III, Gurgaon-122002, Haryana,
India |
|
|
|
|
Holding Company : |
Pfizer Pharmaceutical India Private Limited CIN No.: U24117MH1995FTC084206 |
|
|
|
|
Fellow Subsidiaries : |
·
Capsugel France, France ·
Capsugel Belgium BVBA, Belgium ·
Suzhou Capsugel Limited, China ·
Pfizer India Limited, India ·
PT. Capsugel, Indonesia ·
Capsugel Greenwood, USA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs.10/- each |
Rs. 1100.000 Millions |
|
|
1000000 |
Cumulative Non-convertible Redeemable Preference Shares |
Rs.100/-
each |
Rs. 100.000
Millions |
|
|
|
Total |
|
Rs. 1200.000
Millions |
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101405348 |
Equity Shares |
Rs.10/- each |
Rs. 1014.053
Millions |
|
|
|
|
|
Note:
Of the above,
100,911,569 equity shares of Rs. 10 each are held by Pfizer Pharmaceutical India
Private Limited (Previous year 100,911,569 equity shares of Rs. 10 each were
held by Pfizer Pharmaceutical India Private Limited), the holding company. The
ultimate holding company is Pfizer Inc., USA.
AS ON 30.11.2010
Authorised Capital : Rs. 2200.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 1937.053 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 |
1014.053 |
1014.053 |
886.853 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
36.334 |
36.334 |
36.334 |
|
|
4] (Accumulated Losses) |
(757.021) |
(618.300) |
(393.144) |
|
|
NETWORTH |
293.366 |
432.087 |
530.043 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
438.956 |
129.948 |
26.360 |
|
|
TOTAL BORROWING |
438.956 |
129.948 |
26.360 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
732.322 |
562.035 |
556.403 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
727.935 |
559.829 |
406.080 |
|
|
Capital work-in-progress |
26.626 |
148.474 |
155.232 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
93.549
|
37.833 |
38.552 |
|
|
Sundry Debtors |
58.955
|
40.722 |
20.282 |
|
|
Cash & Bank Balances |
42.769
|
33.090 |
19.792 |
|
|
Other Current Assets |
4.154
|
5.911 |
0.000 |
|
|
Loans & Advances |
113.192
|
96.615 |
67.100 |
|
Total
Current Assets |
312.619
|
214.171 |
145.726 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
301.362
|
333.844 |
128.840 |
|
|
Other Current Liabilities |
20.538
|
15.009 |
14.512 |
|
|
Provisions |
12.958
|
11.689 |
7.492 |
|
Total
Current Liabilities |
334.858
|
360.542 |
150.844 |
|
|
Net Current Assets |
(22.239)
|
(146.371) |
(5.118) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.103 |
0.209 |
|
|
|
|
|
|
|
|
TOTAL |
732.322 |
562.035 |
556.403 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
223.034 |
183.228 |
115.033 |
|
|
|
Other Income |
44.576 |
11.967 |
8.583 |
|
|
|
TOTAL (A) |
267.610 |
195.195 |
123.616 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
107.936 |
75.292 |
57.077 |
|
|
|
Manufacturing Expenses |
118.328 |
108.095 |
81.901 |
|
|
|
Personnel Expenses |
94.202 |
67.797 |
51.995 |
|
|
|
Administrative and Other Expenses |
28.417 |
127.674 |
158.382 |
|
|
|
Sales and Marketing Expenses |
5.079 |
4.648 |
6.828 |
|
|
|
(Increase) / Decrease in stock |
(16.119) |
(0.730) |
0.632 |
|
|
|
TOTAL (B) |
337.843 |
382.776 |
356.815 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(70.233) |
(187.581) |
(233.199) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.100 |
4.264 |
24.457 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(93.333) |
(191.845) |
(257.656) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
45.388 |
31.836 |
24.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS)BEFORE TAX (E-F) (G) |
(138.721) |
(223.681) |
(282.323) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
1.475 |
1.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (J) |
(138.721) |
(225.156) |
(283.798) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(618.300) |
(393.144) |
(106.808) |
|
|
|
|
|
|
|
|
|
Add |
Transitional
Adjustment for Retirement Benefits |
0.000 |
0.000 |
(2.538) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(757.021) |
(618.300) |
(393.144) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
40.046 |
77.335 |
47.677 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2.136 |
0.928 |
0.653 |
|
|
|
Stores & Spares |
29.365 |
3.831 |
0.264 |
|
|
|
Capital Goods |
11.794 |
149.301 |
92.281 |
|
|
TOTAL IMPORTS |
43.295 |
154.060 |
93.198 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.37) |
(2.32) |
(7.72) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(51.84)
|
(115.35) |
(229.58) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(62.20)
|
(122.08) |
(245.43) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.33)
|
(28.90) |
(51.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.47)
|
(0.52) |
(0.53) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.64
|
1.13 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93
|
0.59 |
0.97 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
AND OPERATIONS:
During the year,
the Gross Total Turnover/ Sales and Other Income of the Company was Rs. 282.160
millions as against Rs.209.364 millions, during the previous financial year.
The Company recorded a net loss of Rs.138.721 millions against a net loss of
Rs.223.681 millions during the previous financial year. The earning per share
(EPS) thus has been recorded at Rs. (1.37).
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
Vehicles
·
Leasehold Improvement
·
Air Conditioning Plant
·
Electrical Installations
WEB SITE DETAILS
PROFILE
Subject has emerged
as a global leader creating innovative dosage forms for the pharmaceutical and
dietary supplements industries. Companies look to the leadership to help them
formulate new products, enhance existing product lines, bring new products to
market faster, and ensure their clinical trials are conducted without bias.
NEWS
Pfizer to Sell Capsugel to KKR
April 4, 2011
KKR to acquire the
world’s leading provider of pharmaceutical and dietary supplement capsules and
other innovative drug-delivery systems
The agreement
completes Pfizer’s previously announced review of strategic options for the
Capsugel business
PEAPACK, NJ – Pfizer and Kohlberg Kravis Roberts and Company L.P. (together with its affiliates, “KKR”) today announced they have entered into an agreement whereby an affiliate of KKR will acquire Pfizer’s Capsugel business for $2.375 billion in cash. Capsugel, the world leader in hard capsules and an innovator in drug-delivery systems, generated approximately $750 million in revenue and manufactured more than 180 billion hard capsules in 2010.
“The transaction is an endorsement of Capsugel’s
consistent success to date and its potential for future growth with KKR, a firm
with deep industry expertise and a long history of partnering with
market-leading businesses to take them to the next level,” said Guido Driesen,
President and General Manager of Capsugel. “Capsugel’s employees and
I are excited to work with KKR and eager to enhance the value of our business
in partnership with our customers.”
Over the past 34 years, KKR has invested in more
than 185 transactions with a total value of more than $435 billion. KKR’s current private equity portfolio
includes over 60 portfolio companies with over $210 billion of annual revenues
and more than 900,000 employees.
Henry R. Kravis and George R. Roberts, Co-Founders,
Co-Chairmen and Co-CEOs of KKR, stated, “Capsugel has an excellent portfolio
and outstanding reputation for providing high-quality, innovative drug-delivery
solutions. We look forward to working with Capsugel’s talented employees
and investing in this business. We share Capsugel’s enthusiasm for its
future potential to grow, develop and continue to deliver an unmatched quality
of products.”
Pfizer expects to make additional repurchases of
its common stock on the open market during 2011 as a result of this
transaction, assuming completion this year.
Pfizer’s repurchases of its common stock funded by Capsugel sale
proceeds would be in addition to the previously announced anticipated
repurchase of approximately $5 billion of shares planned for 2011. Pfizer will
also continue to look to identify and invest in other opportunities to maximize
its value, including business development.
As a result of this transaction, Pfizer is updating
its previous 2011 Reported Revenue guidance range from $66.0 - $68.0 billion to
$65.2 - $67.2 billion, and its previous 2012 Reported Revenue target range from
$63.0 – $65.5 billion to $62.2 - $64.7 billion, while maintaining all other
elements of its 2011 financial guidance and 2012 financial targets.
Capsugel will maintain a corporate presence in the
United States, with its global headquarters located in New Jersey. All Pfizer
colleagues currently dedicated to this business will be transferred to
Capsugel, which will be under the leadership of Guido Driesen upon the
completion of the transaction.
The transaction is subject to customary closing
conditions, including regulatory approval in certain jurisdictions, such as the
U.S. and the European Union, among others. The companies expect to complete the
transaction in the third quarter of 2011, assuming the receipt of the required
regulatory clearances and satisfaction of other closing conditions.
Pfizer’s financial advisors for the transaction were Morgan Stanley and
Company Incorporated and Guggenheim Securities, LLC. Cadwalader, Wickersham and Taft LLP and White
and Case LLP acted as legal counsel for Pfizer.
Simpson Thacher and Bartlett LLP acted as legal counsel for KKR.
About Capsugel
Capsugel is the world’s leading provider of hard capsules and an innovator
in drug delivery systems for the pharmaceutical, OTC and health and nutrition
industries. Capsugel offers a comprehensive array of products and services, from hard gelatin,
vegetarian and liquid-filled capsules, to innovative R and D equipment and
liquid formulations as part of its Licaps® Drug Delivery System.
About KKR
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a
leading global investment firm with $61.0 billion in assets under management as
of December 31, 2010. With 14 offices around the world, KKR manages assets
through a variety of investment funds and accounts covering multiple asset
classes. KKR seeks to create value by bringing operational expertise to its
portfolio companies and through active oversight and monitoring of its
investments. KKR complements its investment expertise and strengthens
interactions with investors through its client relationships and capital
markets platforms. KKR is publicly traded on the New York Stock Exchange (NYSE:
KKR).
About Pfizer
At Pfizer, we apply science and our global resources to improve health and
well-being at every stage of life. We strive to set the standard for quality,
safety and value in the discovery, development and manufacturing of medicines
for people and animals. Our diversified global health care portfolio includes
human and animal biologic and small- molecule medicines and vaccines, as well
as nutritional products and many of the world's best-known consumer products.
Every day, Pfizer colleagues work across developed and emerging markets to
advance wellness, prevention, treatments and cures that challenge the most
feared diseases of our time. Consistent with our responsibility as the world's
leading biopharmaceutical company, we also collaborate with health care
providers, governments and local communities to support and expand access to
reliable, affordable health care around the world. For more than 150 years,
Pfizer has worked to make a difference for all who rely on us.
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] 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.45.76 |
|
|
1 |
Rs.75.57 |
|
Euro |
1 |
Rs.65.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
31 |
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.