MIRA
INFORM REPORT
|
Report Date : |
29.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
METAL POWDER COMPANY LIMITED |
|
|
|
|
Registered
Office : |
113, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.05.1961 |
|
|
|
|
Com. Reg. No.: |
18-004478 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.243.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910TN1961PLC004478 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIT00817F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT4262E |
|
|
|
|
Legal Form : |
Closely held public limited liability company. |
|
|
|
|
Line of Business
: |
Manufacturer and Marketer of Aluminium Powder, Aluminium Paste and Golden Bronze Powder. |
|
|
|
|
No. of Employees
: |
390 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
A [65] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3950000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established and reputed company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
113, |
|
Tel. No.: |
91-4562-281995 (4 lines) / 280599 / 220428 |
|
Fax No.: |
91-4562-280689 / 220428 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office: |
Maravan Kulam, Thirumangalam, Madurai District, |
|
Tel. No.: |
91-4549-281995 (4 Lines) / 280599 / 329995 - 329998 |
|
Fax No.: |
91-4549-280689 |
|
E-Mail : |
|
|
|
|
|
Factory: |
v
Maravankulam, Thirumangalam - 625706, Madurai
District, v
Pithampur, |
|
Location : |
Owned |
|
|
|
|
Regional Office : |
v
Sivakasi
depot 113,
Fax
No: 91-4562-220428 v
90,
v
Chennai
Depot 26
and 27, Fax
No: 91-44-25610398 v
Kolkata
Depot Subarnarekha Agricultural Estate 1/1,
E-mail: mepco@vsnl.net v
Near
Chandorkar's Bada, Behind Punjab & Sind Bank, v
Mumbai
Depot: 'Nain Krupa' Fourth Floor, 118/122, v
5-A, Ground Floor, Lane No.14, Delhi-110 042 Tel No: 91-11-25431655 / 25431644 / 32516556 Fax No: 91-11-25431644 E Mail: delhi@mepco.co.in |
|
|
|
|
Northern
Zone: |
·
M/S.Mangalchand Bhanwarlal Agencies, ·
M/S.Bawa Paints Private Limited., ·
M/S.Krishna Resins and Pigments Private Limited. ·
M/S.R.S.Chemicals, ·
M/S.Supertex Chemicals, ·
M/S.Tarachand Ravikumar |
|
|
|
|
Western Zone: |
·
M/S .R.Nagardas And Company ·
M/S.Asanand Sons, ·
M/S.Arihant Marketing,
|
|
|
|
|
Eastern Zone: |
·
M/S.Noble Dyes ·
M/S.Excel Traders, |
|
|
|
|
Southern Zone: |
·
M/S.Shreyas Hi-Tek Associates ·
M/S.Poosarla Agencies, ·
M/S.National Chem ·
M/S.Gautam Dyes and Chemicals ·
M/S.Jothi Agencies ·
M/S.Sunmoon Industries |
|
|
|
|
Consignment Agents
(C & F Agents): |
·
-
M/S.Dipson Agencies -
M/S.Aryan Sales, ·
Chattisgarh Office: M/S.Shree
Devganga Enterprises E.Mail : Dg_Classic@Yahoo.Com ·
Andhra
Pradesh: -
M/S.Rajashree Enterprises -
Rajiv Gandhi Nagar, L.B.Nagar, ·
M/S.
Kalra Sales Agencies, ·
Uttar
Pradesh: M/S.Shreejee
Corporation, ·
Kerala
Office: M/S.Sree
Lakshmi Chemicals, |
DIRECTORS
As on 18.09.2010
|
Name : |
Mr. Grahadurai Athipathy |
|
Designation : |
Director |
|
Address : |
109A, Velayutha Rastha, Sivakasi – 626 123, Tamil Nadu |
|
Date of Birth/Age : |
08.10.1963 |
|
Date of Appointment : |
18.02.2006 |
|
DIN : |
00006888 |
|
|
|
|
Name : |
Mr. Grahadurai Abiruben |
|
Designation : |
Director |
|
Address : |
82-A, |
|
Date of Birth/Age : |
17.07.1966 |
|
Date of Appointment : |
18.02.2006 |
|
DIN : |
00006847 |
|
|
|
|
Name : |
Mr. Ayya Nadar Vaira Prakasam |
|
Designation : |
Director |
|
Address : |
82 B, |
|
Date of Birth/Age : |
26.06.1937 |
|
Date of Appointment : |
30.01.1963 |
|
DIN : |
00006811 |
|
|
|
|
Name : |
Shri Meenakshi Sundaram Ramalingam |
|
Designation : |
Director |
|
Address : |
53, |
|
Date of Birth/Age : |
28.04.1933 |
|
Date of Appointment : |
31.01.1963 |
|
DIN : |
00006836 |
|
|
|
|
Name : |
Mr. Gunasingh Chelladhurai |
|
Designation : |
Managing Director |
|
Address : |
17-A, |
|
Date of Birth/Age : |
24.04.1947 |
|
Date of Appointment : |
25.04.1998 |
|
DIN : |
00168538 |
|
|
|
|
Name : |
Mr. Vishwanathan Krishnamoorthy |
|
Designation : |
Director |
|
Address : |
7A / 1, Nehru Nagar, |
|
Date of Birth/Age : |
08.11.1941 |
|
Date of Appointment : |
20.06.2009 |
|
DIN : |
00019515 |
|
|
|
|
Name : |
Mr. Sankaralingam Annamalai |
|
Designation : |
Director |
|
Address : |
239/2, |
|
Date of Birth/Age : |
26.01.1947 |
|
Date of Appointment : |
15.10.1994 |
|
DIN : |
00001381 |
|
|
|
|
Name : |
Mr. Yennarkay Rajarathnam Ravindran |
|
Designation : |
Director |
|
Address : |
Standard Bunglow, 3, |
|
Date of Birth/Age : |
22.03.1939 |
|
Date of Appointment : |
05.05.1961 |
|
DIN : |
00006821 |
|
|
|
|
Name : |
Mr. Arunachalam Tenzing |
|
Designation : |
Director |
|
Address : |
174-A, |
|
Date of Birth/Age : |
03.04.1953 |
|
Date of Appointment : |
26.09.1990 |
|
DIN : |
00014412 |
|
|
|
|
Name : |
Mr. Chelladhurai Subhasingh |
|
Designation : |
Director |
|
Address : |
1/2, |
|
Date of Birth/Age : |
05.12.1945 |
|
Date of Appointment : |
28.08.2001 |
|
DIN : |
00018552 |
|
|
|
|
Name : |
Mr. Dhanasekarapandian Singaravel |
|
Designation : |
Director |
|
Address : |
21-A, |
|
Date of Birth/Age : |
18.04.1956 |
|
Date of Appointment : |
17.06.2000 |
|
DIN : |
00006862 |
|
|
|
|
Name : |
Mr. Yennarkay R Rajarathnam Ravindran |
|
Designation : |
Director |
|
Address : |
3, |
|
Date of Birth/Age : |
28.10.1966 |
|
Date of Appointment : |
21.06.1997 |
|
DIN : |
00020509 |
KEY EXECUTIVES
|
Name : |
Mr. Chinnachamy Periandar |
|
Designation : |
Secretary |
|
Address : |
241, Jawahar Nagar, |
|
Date of Birth/Age : |
24.05.1942 |
|
Date of Appointment : |
24.05.2000 |
|
PAN : |
AAHPC2211L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Meenakshi Sundaram Ramalingam |
|
767 |
|
Ayya Nadar Vaira Prakasam |
|
18048 |
|
Yennarkay Rajarathnam Ravindran |
|
54909 |
|
Chelladhurai Subhasingh
|
|
13769 |
|
Sankaralingam Annamalai |
|
2121 |
|
Gunasingh Chelladhurai |
|
11198 |
|
Arunachalam Tenzing |
|
13025 |
|
Dhanasekarapandian Singaravel |
|
10213 |
|
Grahadurai Athipathy |
|
20669 |
|
Grahadurai Abiruben |
|
20670 |
|
Yennarkay R Rajarathnam Ravindran |
|
41818 |
|
Sri Kodiswaran
V.A. |
|
46268 |
|
Sri Vairaprakasam
A., Trustee |
|
18732 |
|
Sri Vairaprakasam
A., Trustee, V. Meera - Charitable
Trust |
|
18729 |
|
Sri Vairaprakasam
A., Trustee |
|
18735 |
|
Smt. Hema S. |
|
44749 |
|
Pradeep Sankar
Enterprises Private Limited, |
|
58728 |
|
Arunsankar
Enterprises Private Limited, |
|
140664 |
|
Niranjan Sankar
Enterprises Private Limited, |
|
66504 |
|
Boopathy
Investments Private Limited, |
|
44229 |
|
Anjac Investments
Private Limited, |
|
101250 |
|
Pavai Investments
Private Limited, |
|
66519 |
|
Janaki
Investments Private Limited, |
|
84198 |
|
Smt. Thilagavathy
Ravindran |
|
151790 |
|
Standard
Fireworks Private Limited, |
|
350751 |
|
Sri Sanjay G. |
|
47197 |
|
Sri Chiranjeevirathnam
R. |
|
41593 |
|
Sri Vasant
Rajasingh |
|
47197 |
|
Sri Vasiharan R. |
|
47198 |
|
Sri Selvarathnam
Yennarkay R. |
|
40166 |
As on 18.09.2010
|
Category |
Percentage |
|
Bodies corporate |
39.32 |
|
Directors or relatives of Directors |
35.54 |
|
Other top fifty shareholders |
22.91 |
|
Others |
2.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketer of Aluminium Powder, Aluminium Paste and Golden Bronze Powder. |
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Products : |
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GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
390 [Approximately] |
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Bankers : |
|
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Facilities : |
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B B Naidu and Company Chartered Accountants |
|
Address : |
122/36, |
|
Tel. No.: |
91-44-26411061 / 26411283 |
|
Fax No.: |
91-44-26412575 |
|
E-Mail : |
|
|
|
|
|
Subsidiaries : |
· MDL Industries Limited CIN : U24292TN1989PLC017848 · Nalco Metal Products Limited CIN: U28100TN1974PLC006569 ·
Sterling Metal Powder Company ( |
|
|
|
|
Other Related Parties : |
I) Standard Fireworks Private Limited Ii) Ayyan Fireworks Factory Private Limited Iii) Standard Match Industries Private Limited Iv) Rajarathnam Fireworks Industries V) Janaki Packaging Private Limited Vi) The Hind Matches Private Limited Vii) Darlingsons Wire Forms Private Limited Viii) Pioneer Overseas Private Limited Ix) The Bell Match Company X) Ayyan Fireworks Factory Xi) Modern Matches Private Limited Xii) Sri Shenbaga Vinayagar Matches Private Limited Xiii) Asia Match Company Private Limited Xiv) Aluminium Powder Company Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity shares |
Rs.100/- each |
Rs.250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,430,000 |
Equity shares |
Rs. 100/-
each |
Rs.243.000millions
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
243.000 |
243.000 |
243.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
745.900 |
662.800 |
613.300 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
988.900 |
905.800 |
856.300 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.100 |
8.400 |
80.700 |
|
|
2] Unsecured Loans |
140.000 |
0.000 |
35.200 |
|
|
TOTAL BORROWING |
150.100 |
8.400 |
115.900 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1139.000 |
914.200 |
972.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
327.000 |
291.500 |
230.200 |
|
|
Capital work-in-progress |
6.100 |
1.400 |
19.900 |
|
|
|
|
|
|
|
|
INVESTMENT |
77.600 |
72.600 |
78.300 |
|
|
DEFERREX TAX ASSETS |
25.700 |
22.900 |
16.900 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
497.300
|
413.500 |
447.900 |
|
|
Sundry Debtors |
91.800
|
89.300 |
145.100 |
|
|
Cash & Bank Balances |
156.800
|
65.200 |
72.400 |
|
|
Other Current Assets |
7.000
|
0.800 |
0.700 |
|
|
Loans & Advances |
206.900
|
164.800 |
186.000 |
|
Total
Current Assets |
959.800
|
733.600 |
852.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
86.500
|
51.000 |
75.300 |
|
|
Other Current Liabilities |
12.500
|
8.000 |
5.600 |
|
|
Provisions |
158.200
|
148.800 |
144.300 |
|
Total
Current Liabilities |
257.200
|
207.800 |
225.200 |
|
|
Net Current Assets |
702.600
|
525.800 |
626.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1139.000 |
914.200 |
972.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income [Sales] |
1646.700 |
1743.000 |
1703.300 |
|
|
|
Other Income |
108.200 |
74.700 |
56.400 |
|
|
|
TOTAL (A) |
1754.900 |
1817.700 |
1759.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
853.000 |
1011.800 |
1015.100 |
|
|
|
Staff |
103.600 |
94.500 |
95.400 |
|
|
|
Remuneration to Managing Director |
0.200 |
4.300 |
2.900 |
|
|
|
Manufacturing, Selling and Administration |
456.700 |
411.100 |
379.600 |
|
|
|
TOTAL (B) |
1413.500 |
1521.700 |
1493.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/LOSS
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
341.400 |
296.000 |
266.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.600 |
15.300 |
11.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
333.800 |
280.700 |
255.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
80.500 |
55.100 |
42.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
253.300 |
225.600 |
212.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
70.700 |
76.400 |
69.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-I) (J) |
182.600 |
149.200 |
143.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
83.100 |
49.700 |
43.500 |
|
|
|
Proposed Dividend (including Interim Dividend) |
85.100 |
85.100 |
85.100 |
|
|
|
Corporate Dividend Tax |
14.400 |
14.400 |
14.400 |
|
|
BALANCE CARRIED
TO THE B/S |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
458.800 |
592.800 |
469.800 |
|
|
TOTAL EARNINGS |
458.800 |
592.800 |
469.800 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
223.200 |
228.700 |
290.200 |
|
|
|
Components & Spares |
0.100 |
0.100 |
1.500 |
|
|
|
Machinery / Test Equipments |
0.000 |
0.000 |
2.800 |
|
|
TOTAL IMPORTS |
223.300 |
228.800 |
294.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
10.40
|
8.21 |
8.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.38
|
12.94 |
12.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.68
|
22.01 |
19.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41
|
0.24 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.73
|
3.53 |
3.78 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90296558 |
|
Corporate
identity number of the company |
U28910TN1961PLC004478 |
|
Name of the
company |
METAL POWDER
COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
113,Velayutham
Roadsivakasi, Sivakasi – 626123, Sivakasi Tamil |
|
Type of charge |
· Book Debts · Movable Property · Immovable Property |
|
Particular of
charge holder |
Indian Overseas Bank, 127, |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement Form F 110e Dated 25/02/2008 For Rs. 220.000 millions. Letter Of Confirmation
Form F 379c Dated 25/02/2008 For Rs. 220.000 millions. |
|
Date of
instrument Creating the charge |
25.02.2008 |
|
Amount secured by
the charge |
Rs.220.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- BPLR - 1% Terms of
Repayment - cash credit hypothecation, working capital demand loan, secured
pc / pcfc, fddbp / fdubd, letter of credit and letter of guarantee, repayable
on demand. Margin – 25% Extent and
Operation of the charge - charge in favour of indian overseas bank. |
|
Short particulars
of the property charged |
1. Stock of raw
materials, stock in process, finished goods, consumable spares, at the factory
premises at maravankulam and receivables. 2.Collateraly
secured by charge on all machinery, equipments, fixtures etc., at the factory
at maravankulam. 3. Equitable
mortgage of 79.54 acres of factory land and the buildings there on at
maravankulam and kappalur villages. |
|
Date of latest
modification prior to the present modification |
18.06.2005 |
|
Particulars of
the present modification |
Original charge
amount of Rs. 170.000 millions created through Indian Overseas Bank
Madurai. Letter of hypothecation form
f110e dated 15/05/2002 was increased to Rs. 200.000 millions by Indian
Overseas Bank Madurai. Letter of
hypothecation form f110e dated 17/06/2005 and is now further increased to Rs.
220.000 millions by Indian Overseas Bank Madurai letter of hypothecation form
f110e dated 25/02/2008, which was also secured by letter of confirmation
dated 25/02/2008 for Rs. 220.000 millions. |
FIXED ASSETS :
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
WEBSITE DETAILS:
History
Subject has commenced it's operation in 1961, is one of the
leading manufacturers of Non - Ferrous Metal Powders and pastes
globally.
Wide range of products for different applications and continuously developing
new products meeting any global standards.
Four manufacturing plants in
The combined capacity exceeds 50000 MT/ Year.
Sales depots in
ISO 9001 certified company and a global player. All its products are
exported to more than 40 countries.
Won several National Awards for export merit and import substitution and
process development for Aluminium powder, Gold Bronze powder, Red Phosphorus
powder and Magnesium powder.
On the threshold of introducing Speciality products for plastics, powder
coatings and automotive coating along with Silica encapsulated and resin coated
Pigments.
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.46.05 |
|
|
1 |
Rs.75.19 |
|
Euro |
1 |
Rs.66.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
65 |
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.