%20LIMITED%20-%20162297%2009-Dec-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
09.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER INDUSTRIES (INDIA) LIMITED (w.e.f. 01.02.1988) |
|
|
|
|
Formerly Known
As : |
PREMIER EXTRACTIONS LIMITED |
|
|
|
|
Registered
Office : |
45/47A, Industrial Area, No.1, |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.11.1973 |
|
|
|
|
Com. Reg. No.: |
001234 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 57.888 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15143MP1973PLC001234 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLP00509F |
|
|
|
|
Legal Form : |
Subject
is a Public Limited Liability Company. The company's shares are listed on the
stock exchanges. |
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|
|
|
Line of Business
: |
Subject is Engaged with Oilseed Processing and Refining of Edible Oils
and Dairy products manufacturing |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
C (06) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Sick Unit |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
--- |
|
|
|
|
Comments : |
Subject is a Sick Unit and has been refurred to BIFR. There are huge
accumulated losses recorded by the company. Payments are reprted as slow and
delayed. The company can be considered for any business dealings on fully safe
and secured 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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. R.K. Vijay |
|
Designation : |
Finance Manager |
|
Date : |
03.12.2011 |
LOCATIONS
|
Registered Office : |
45/47A, Industrial Area, No.1, |
|
Tel. No.: |
91-731-2527175 / 370 / 7272-258502 |
|
Fax No.: |
91-731-2527730 / 7272-258505 |
|
E-Mail : |
|
|
|
|
|
Branch : |
107, Chetak Centre, 12/2, RNT Marg, |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rajesh Agarwal |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
7-A, Sri Nagar Annex, |
|
Date of Birth/Age : |
03.03.1963 |
|
Date of Appointment : |
03.04.1981 |
|
DIN No.: |
00107009 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
L15143MP1973PLC001234 |
PREMIER
INDUSTRIES ( |
Director |
3/4/1981 |
3/4/1981 |
- |
Active |
NO |
|
2 |
L15141MP1986PLC003345 |
PREMIER PROTEINS
LIMITED |
Managing
director |
1/8/2009 |
27/04/1987 |
- |
Active |
NO |
|
3 |
L65920MH1983PLC030629 |
PREMIER CAPITAL
SERVICES LIMITED |
Director |
7/5/1992 |
7/5/1992 |
28/12/2010 |
Active |
NO |
|
4 |
L15424MP1989PLC005564 |
GIRDHARILAL
SUGAR AND ALLIED INDUSTRIES LIMITED |
Managing
director |
1/9/2009 |
8/2/1993 |
- |
Active |
NO |
|
5 |
U17110MP1976PTC027084 |
DEEPAK WOOLLENS
PRIVATE LIMITED |
Director |
29/01/1996 |
29/01/1996 |
- |
Active |
NO |
|
Name : |
Mr. Ram Gopal Agrawal |
|
Designation : |
Director |
|
Address : |
7-A, Sri Nagar Annex, |
|
Date of Birth/Age : |
22.10.1954 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
00359638 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U67120MP1985PTC002999 |
VERTEX
INVESTMENTS PVT LTD |
Director |
2/9/1985 |
2/9/1985 |
- |
Active |
NO |
|
2 |
U40106MP1989PTC005118 |
INDRAJIT SOLAR
POWER PVT.LTD. |
Director |
3/3/1989 |
3/3/1989 |
- |
Active |
NO |
|
3 |
L15143MP1973PLC001234 |
PREMIER INDUSTRIES
( |
Director |
16/08/2004 |
16/08/2004 |
- |
Active |
NO |
|
4 |
U15200MP2010PTC023711 |
MANTHAN MILK
PRODUCTS PRIVATE LIMITED |
Director |
4/6/2010 |
4/6/2010 |
- |
Active |
NO |
|
Name : |
Mr. Murarilal Bidadaria |
|
Designation : |
Director |
|
Address : |
Plot No. 93 and 93, 1st Cross, Vijay Nagar, Hubli – 580030,
|
|
Date of Birth/Age : |
19.09.1930 |
|
Date of Appointment : |
29.01.1996 |
|
DIN No.: |
01957859 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U85110KA1992PTC012707 |
FIRST STEEL COMPANY
PRIVATE LIMITED |
Director |
10/1/1992 |
10/1/1992 |
- |
Active |
NO |
|
2 |
U85110KA1992PLC013248 |
|
Managing
director |
17/06/1992 |
17/06/1992 |
- |
Active |
NO |
|
3 |
L15424MP1989PLC005564 |
GIRDHARILAL SUGAR
AND ALLIED INDUSTRIES LIMITED |
Director |
29/01/1996 |
29/01/1996 |
- |
Active |
NO |
|
4 |
L15143MP1973PLC001234 |
PREMIER
INDUSTRIES ( |
Director |
29/01/1996 |
29/01/1996 |
- |
Active |
NO |
|
5 |
L15141MP1986PLC003345 |
PREMIER PROTEINS
LIMITED |
Director |
29/01/1996 |
29/01/1996 |
- |
Active |
NO |
|
Name : |
Mr. Sandeep Gaware Janardan |
|
Designation : |
Nominee Director |
|
Address : |
09, Canbank Apartment, 3 Mancrmaganj, |
|
Date of Birth/Age : |
21.09.1964 |
|
Date of Appointment : |
30.07.2011 |
|
DIN No.: |
003596481 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of promoters and Promoter Group |
|
|
|
1. Indian |
|
|
|
Individuals / Hindu Undivided Family |
346926 |
5.99 |
|
Bodies Corporate |
1321689 |
22.83 |
|
Sub Total (A)
(1) |
1668615 |
28.82 |
|
|
|
|
|
2. Non
Institutions |
|
|
|
Bodies Corporate |
164523 |
2.84 |
|
Individual shareholders holding nominal share capital up to Rs. 0.100
million |
3582599 |
61.87 |
|
Individual shareholders holding nominal share capital in excess of Rs.
0.100 million |
107000 |
1.85 |
|
Any Other (Specify) |
267337 |
4.62 |
|
|
|
|
|
Non Residents |
|
|
|
NRI Rep |
4121459 |
71.18 |
|
|
|
|
|
Sub Total (B)
(2) |
5790074 |
100.00 |
|
(B) = (B) (1) +
(B) (2) |
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|
|
|
|
|
|
Shares
held by custodians and against which depository receipts have been
issued (C) |
--- |
--- |
|
|
|
|
|
Total (A) + (B) +(C) |
5790074 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Engaged with Oilseed Processing and Refining of Edible Oils
and Dairy products manufacturing |
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Products : |
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Exports : |
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Products : |
Dairy Products and Seeds |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 / 60 Days) |
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Purchasing : |
L/C, Credit (30 / 60 Days) |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
Canara Bank, 11 Rnt Marg, |
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Facilities : |
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|
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Banking
Relations : |
----- |
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|
|
|
Auditors : |
|
|
Name : |
M. Mehta and Company Chartered Accountant |
|
Address : |
11/5, South Tukoganj, |
|
Email : |
|
|
Website : |
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|
Pan No.: |
AAGFM2167A |
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|
|
|
Related Parties : |
·
Premier Proteins Limited, ·
Girdharilal Sugar and Allied Industries Limited ·
Premier Feed Products Private Limited ·
Vertex Investment Private Limited ·
Premier Capital Service Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5788874 |
Equity Shares |
Rs.10/- each |
Rs. 57.888
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 |
57.900 |
57.900 |
57.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
50.070 |
50.070 |
11.045 |
|
|
4] (Accumulated Losses) |
(353.242) |
(345.477) |
(330.695) |
|
|
NETWORTH |
(245.272) |
(237.507) |
(261.750) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
84.952 |
106.664 |
125.373 |
|
|
2] Unsecured Loans |
348.450 |
309.297 |
304.946 |
|
|
TOTAL BORROWING |
433.402 |
415.961 |
430.319 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
188.130 |
178.454 |
168.569 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
54.143 |
57.539 |
60.413 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.802 |
0.881 |
0.881 |
|
|
DEFERREX TAX ASSETS |
118.470 |
94.264 |
106.162 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
96.027
|
85.678 |
87.214 |
|
|
Sundry Debtors |
18.287
|
18.669 |
32.437 |
|
|
Cash & Bank Balances |
5.418
|
5.632 |
7.728 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
26.199
|
35.641 |
46.188 |
|
Total
Current Assets |
145.931
|
145.620 |
173.567 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
88.211
|
93.837 |
147.523 |
|
|
Other Current Liabilities |
45.469
|
20.555 |
19.885 |
|
|
Provisions |
5.536
|
5.458 |
5.046 |
|
Total
Current Liabilities |
139.216
|
119.850 |
172.454 |
|
|
Net Current Assets |
6.715
|
25.770 |
1.113 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
188.130 |
178.454 |
168.569 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
1019.929 |
1043.714 |
1745.436 |
|
|
|
Processing Charges |
12.667 |
10.399 |
11.941 |
|
|
|
Misc. Income |
1.073 |
3.722 |
26.263 |
|
|
|
TOTAL (A) |
1033.669 |
1057.835 |
1783.640 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
926.030 |
941.827 |
1557.893 |
|
|
|
Manufacturing Expenses |
81.168 |
82.713 |
118.406 |
|
|
|
Excise Duty |
0.521 |
0.956 |
1.034 |
|
|
|
Administrative Expenses |
6.298 |
6.438 |
9.800 |
|
|
|
Selling Expenses |
5.034 |
3.927 |
10.381 |
|
|
|
Packing and Forwarding Expenses |
15.882 |
17.082 |
51.128 |
|
|
|
Others |
13.629 |
16.934 |
0.408 |
|
|
|
Prior Year’s Adjustment |
(0.624) |
0.582 |
0.072 |
|
|
|
Old Liabilities Written Off |
(0.118) |
(11.457) |
(14.787) |
|
|
|
Sales Tax Refund |
(1.956) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
1045.864 |
1059.002 |
1734.335 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(12.195) |
(1.167) |
49.305 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.675 |
14.516 |
15.297 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(31.870) |
(15.683) |
34.008 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.014 |
7.959 |
8.152 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(39.884) |
(23.642) |
25.856 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(24.200) |
(12.115) |
8.388 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(15.684) |
(35.757) |
17.468 |
|
|
|
|
|
|
|
|
|
Less |
NON COMPLETE
FEES |
0.000 |
60.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR
DIMINUTION IN THE VALUE OF INVESTMENT W/BACK
|
(7.920) |
0.000 |
14.787 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER EXTRA ORDINARY ITEM |
(7.764) |
24.242 |
17.468 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
365.368 |
389.610 |
382.606 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
19.890 |
19.890 |
19.890 |
|
|
BALANCE CARRIED
TO THE B/S |
(353.241) |
365.368 |
389.610 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.70) |
(6.17) |
3.01 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
1110.000 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs.1200.000 millions
The above information has been parted by Mr. R.K. Vijay.
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.09.2011 |
30.06.2011 |
31.03.2011 |
31.12.2010 |
30.09.2010 |
30.06.2010 |
|
|
1st Quarter |
2nd
Quarter |
3rd Quarter |
4th Quarter |
5th
Quarter |
6th Quarter |
|
Net Sales |
348.700 |
378.000 |
349.700 |
336.300 |
368.400 |
378.000 |
|
Total Expenditure |
353.200 |
391.500 |
353.200 |
346.600 |
368.800 |
391.500 |
|
PBIDT (Excl OI) |
(3.500) |
(13.500) |
(3.500) |
(10.300) |
(0.400) |
(13.500) |
|
Other Income |
0.400 |
4.000 |
0.400 |
0.800 |
0.500 |
4.000 |
|
Operating Profit |
(3.100) |
(9.500) |
(3.100) |
(9.500) |
0.100 |
(9.500) |
|
Interest |
4.600 |
0.800 |
4.600 |
6.100 |
8.000 |
0.800 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
(0.100) |
0.000 |
0.000 |
|
PBDT |
(7.700) |
(10.300) |
(7.700) |
(15.700) |
(7.900) |
(10.300) |
|
Depreciation |
2.100 |
1.900 |
2.100 |
1.900 |
2.000 |
1.900 |
|
Profit Before Tax |
(9.800) |
(12.200) |
(9.800) |
(17.600) |
(9.900) |
(12.200) |
|
Tax |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(9.800) |
(12.200) |
(9.800) |
(17.600) |
(9.900) |
(12.200) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
(9.800) |
(12.200) |
(9.800) |
(12.200) |
(9.900) |
(12.200) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(1.51)
|
(3.38) |
0.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.91)
|
(22.57) |
1.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(20.62)
|
(11.63) |
11.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16)
|
(0.09) |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(2.33)
|
(2.25) |
(2.30) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
1.21 |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONAL
HIGHLIGHTS AND FUTURE PROSPECTS :
During the year under consideration the company's turnover and other
receipts stands at Rs. 1033.700 millions as against Rs. 1057.800 achieved
during last year. The Company has incurred Loss of Rs.39.900 millions as
against Loss of Rs. 23.700 millions incurred in the previous year. However,
after incorporating Extra Ordinary Items of Rs.7.900 millions (Previous Year
60.000 millions), provision for Deferred Tax Asset of Rs24.200 millions
(previous year Rs. 11.900 millions ) and Frinze Benefit Tax Rs. Nil (previous
year Rs. 0.200 millions), the balance works out to Loss of Rs.7.800 millions as
against Profit of Rs.24.200 millions in the previous year which has been
carried to Balance Sheet together with brought forward losses of earlier years.
During the year, the Company has processed 12519.M.T of Soyabean Seed as
against 21 197 M.T in the previous year. Similarly, the Company has refined
9578 M.T. Crude Oil in its Refinery as against 8350 M.T. refined in the
previous year. The Soya Division recorded a net turnover of Rs.635.500 millions
during the year as against Rs. 754.700 millions in the previous year. In Dairy
Division the Company had achieved a Turnover of Rs.384.400 millions as against
Rs. 289.000 millions in the previous year. The Company continued to utilize its
Manufacturing facilities by doing Job Work basis on behalf of other parties. It
had processed 13 8 12 KL of milk on behalf of third party as against 10752 KL
processed during last year.
The Soya Industry has not performed well during the year. Due to
worldwide recessionary trend, the export of soya DOC was badly effected.
Similarly realization of Soya Oil was subdued due to Govt. Policy which allowed
duty free import of Edible Oil. The aforesaid factors, further fueled by lesser
availability of soya seed at a very higher price, resulted in disparity in
operations and the Company could crush substantially low quantity of seed
during the current year. ,The dairy operations, was, however, profitable due to
better sales realization of finished goods. With the improvement in the world
market scenario, your Directors expects the Soya business to improve. Your
Directors also expects moderate growth and improved capacity utilization in
Dairy business in the forthcoming year.
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
----------- |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
---- |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
No |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------- |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
------ |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
FIXED ASSETS :
- Land
- Plant and Machinery
- Vehicles
- Furniture and Fixtures
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. 51.77 |
|
|
1 |
Rs. 81.32 |
|
Euro |
1 |
Rs. 69.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
-- |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
-- |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
-- |
|
--LEVERAGE |
1~10 |
-- |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
06 |
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.