MIRA
INFORM REPORT
|
Report Date : |
26.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
GANGWAL CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
25, Diamond Plaza, Laxminarayan Shopping Centre, Poddar Park, Malad
(East), Mumbai – 400 097, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
15.06.1990 |
|
|
|
|
Com. Reg. No.: |
11-45235 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.4.207 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24110MH1990PTC045235 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG10016G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACG1463E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Pharmaceutical Excipients, Methacrylate
Polymers. |
|
|
|
|
No. of Employees : |
55 (Approximately) |
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 170000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and 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 – 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 (GENERAL DETAILS)
|
Name : |
Mr. Rajesh |
|
Designation : |
Purchase Executive |
|
Contact No.: |
91-22-28889000 |
|
Date : |
24.12.2011 |
LOCATIONS
|
Registered Office : |
25, Diamond Plaza, Laxminarayan Shopping Centre, Poddar Park, Malad
(East), Mumbai – 400 097, Maharashtra, India |
|
Tel. No. : |
91-22-28414872 / 28835347 / 28445567 / 28836565 |
|
Mobile No.: |
91-9321865429 (Mr. Acharya) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
306, Business Calssic, Chincholi Bunder, Off |
|
Tel. No.: |
91-22-28889000 |
|
Fax No.: |
91-22-28835347 |
|
|
|
|
Factory 1 : |
N 5, MIDC, Tarapur, |
|
|
|
|
Factory 2 : |
C Malad Co-operative Society Limited, 4/33/34, Malad (East),
Mumbai-400097, |
|
Tel. No.: |
91-22-28836565 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Kailashchandra N Jain |
|
Designation : |
Director |
|
Address: |
4/33, Malad Co-Operative Housing Society, 7, |
|
Date of Birth: |
11.06.1934 |
|
Qualification : |
M. Pharma |
|
Date of Appointment: |
22.11.2001 |
|
DIN No.: |
00021239 |
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 |
L24230MH1984PLC033389 |
Makers
Laboratories Limited |
Director |
18-10-89 |
18-10-89 |
- |
Active |
NO |
|
2 |
U24117MH2001PTC131344 |
Initia
Pharmachem Private Limited |
Director |
22-03-01 |
22-03-01 |
01-10-11 |
Active |
NO |
|
3 |
U24110MH1990PTC045235 |
Gangwal
Chemicals Private Limited |
Director |
22-11-01 |
22-11-01 |
- |
Active |
NO |
|
4 |
U74900MH2005PTC151550 |
Chinay Logistics
Private Limited |
Director |
23-02-05 |
23-02-05 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Prasad Ganpatrao Anaokar |
|
Designation : |
Director |
|
Address: |
11, Alankar, 1st Floor, 40, |
|
Date of Birth: |
20.01.1954 |
|
Date of Appointment: |
24.12.2009 |
|
DIN No.: |
02903259 |
|
|
|
|
Name : |
Mr. Anil Jain |
|
Designation : |
Director |
|
Address: |
4/33, Malad Co-Operative Housing Society, 7, |
|
Date of Birth: |
11.01.1963 |
|
Date of Appointment: |
16.10.2007 |
|
Date of Ceasing : |
24.12.2009 |
|
DIN No.: |
00617764 |
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 |
U24110MH1995PTC092999 |
S. A. Pharmachem
Private Limited |
Director |
22-09-95 |
22-09-95 |
- |
Active |
NO |
|
2 |
U24110MH1996PLC098538 |
S. A. Drugs and
Intermediates Limited |
Director |
29-03-96 |
29-03-96 |
- |
Active |
NO |
|
3 |
U85100MH1989PTC051486 |
Royal Dental
Clinics Private Limited |
Director |
20-12-97 |
20-12-97 |
- |
Active |
NO |
|
4 |
U74900MH2005PTC151550 |
Chinay Logistics
Private Limited |
Director |
23-02-05 |
23-02-05 |
- |
Active |
NO |
|
5 |
U52390MH2007PTC170971 |
Balthazar Pet Products
Private Limited |
Director |
21-05-07 |
21-05-07 |
- |
Active |
YES |
|
6 |
U24110MH1990PTC045235 |
Gangwal
Chemicals Private Limited |
Director |
30-09-08 |
16-10-07 |
24-12-09 |
Active |
NO |
|
7 |
U74999MH2008PTC187602 |
Four Marcom Strategies
Private Limited |
Director |
16-10-08 |
16-10-08 |
- |
Active |
YES |
|
8 |
U74990MH2009PTC190777 |
Azone Hues
Private Limited |
Director |
06-03-09 |
06-03-09 |
- |
Active |
NO |
|
|
|
|
Name : |
Mrs. Premlata K. Jain |
|
Designation : |
Director |
|
Address: |
4/ 33, Malad Co-Operative Housing Society Limited, |
|
Date of Birth: |
12.04.1941 |
|
Date of Appointment: |
15.06.1990 |
|
Date of Ceasing : |
12.03.2011 |
|
DIN No.: |
00661932 |
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 |
U24110MH1990PTC045235 |
Gangwal
Chemicals Private Limited |
Director |
15-06-90 |
15-06-90 |
12-03-11 |
Active |
NO |
|
|
|
|
Name : |
Mrs. Anita A Jain |
|
Designation : |
Director |
|
Address: |
4/33, Malad Co-Operative Housing Society, 7, |
|
Date of Birth: |
15.08.1964 |
|
Date of Appointment: |
15.06.1990 |
|
Date of Ceasing : |
01.06.2011 |
|
DIN No.: |
00661905 |
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 |
U24110MH1990PTC045235 |
Gangwal
Chemicals Private Limited |
Director |
15-06-90 |
15-06-90 |
01-06-11 |
Active |
NO |
|
2 |
U85100MH2007PTC173150 |
Oxyvit
Healthcare Private Limited |
Director |
16-08-07 |
16-08-07 |
- |
Active |
YES |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Purchase Executive |
|
|
|
|
Name : |
Mr. Prashant |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kailashchandra N Jain |
|
110 |
|
Anil Jain |
|
420500 |
|
Premlata Jain |
|
110 |
|
Total |
|
420720 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pharmaceutical Excipients, Methacrylate
Polymers. |
|
|
|
|
Products : |
· Excipients · Nutaceuticals · Active
Pharmaceutical Ingrediants · Amino Acids · Sweeteners · Herbal Extracts ·
Drugs and Pharmaceuticals |
|
|
|
|
Exports : |
|
|
Products: |
Pharmaceutical Excipients, Methacrylate Polymers |
|
Countries : |
European Countries |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
·
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL INFORMATION
|
Suppliers: |
·
S. A. Pharmachem Private Limited ·
Universal Starchchem Allied Limited ·
Shivam Petrochem · Shreeji Engineering ·
SNAP Intermediates ·
Kumar Enterprises ·
Alok Roadways ·
K. M. Pillai ·
·
World Courier ( |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
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Customers : |
OEM’s |
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No. of Employees : |
55 (Approximately) |
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Bankers : |
·
Citibank N.A. Trent House, 2nd Floor, G
Block, Plot No. C 60, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, ·
State
Bank of Industrial Finance Branch, Malad (East), Mumbai – 400 064, ·
ABN Amro Bank ·
ICICI Bank Limited ·
Kotak Mahindra Bank Limited ·
Standard Chartered Bank ·
Barclays Bank ·
HDFC Bank Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institute: |
· 3i Infotech Trusteeship Services Limited 3rd to 6th
Floor, · TML Finance Services Limited, Mumbai · Kotak Mahindra Prime Limited |
|
|
|
|
Auditors : |
|
|
Name : |
Sunil M Jain and Associates Chartered Accountants |
|
Address : |
Shop No. 3, Regency, |
|
Tel No.: |
91-22-28891689 |
|
E-Mail : |
|
|
PAN No.: |
AABPJ3708M |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
420720 |
Equity Shares |
Rs.10/- each |
Rs.4.207
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.207 |
4.207 |
4.207 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
37.899 |
31.233 |
24.511 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
42.106 |
35.440 |
28.718 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.504 |
11.755 |
15.766 |
|
|
2] Unsecured Loans |
35.293 |
17.366 |
11.036 |
|
|
TOTAL BORROWING |
42.797 |
29.121 |
26.802 |
|
|
DEFERRED TAX LIABILITIES |
0.232 |
0.097 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
85.135 |
64.658 |
55.520 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
36.149 |
39.842 |
38.753 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.006 |
0.006 |
0.006 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.259 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
39.185
|
18.506
|
17.085
|
|
|
Sundry Debtors |
64.205
|
38.811
|
38.293
|
|
|
Cash & Bank Balances |
3.410
|
3.453
|
2.921
|
|
|
Other Current Assets |
5.112
|
5.554
|
3.993
|
|
|
Loans & Advances |
32.057
|
19.788
|
11.497
|
|
Total
Current Assets |
143.969
|
86.112
|
73.789
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.075 |
29.170 |
24.936
|
|
|
Other Current Liabilities |
38.169
|
25.072
|
23.406 |
|
|
Provisions |
10.753
|
7.072
|
8.960
|
|
Total
Current Liabilities |
94.997
|
61.314
|
57.302
|
|
|
Net Current Assets |
48.972
|
24.798
|
16.487
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.008 |
0.012 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
85.135 |
64.658 |
55.520 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Approximately) |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
277.100 |
|
186.353 |
|
|
|
Other Income |
NA |
|
5.893 |
|
|
|
TOTAL |
NA |
255.498 |
192.246 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Purchases |
NA |
|
128.840 |
|
|
|
Other Direct Cost |
|
|
22.625 |
|
|
|
Administrative Expenses |
|
|
27.697 |
|
|
|
Increase/ Decrease in Stock |
|
|
(4.925) |
|
|
|
TOTAL |
NA
|
241.755 (Including
Financial Expenses) |
174.237 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
18.009 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
|
|
5.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.406 |
15.164 |
12.936 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
4.222 |
4.221 |
3.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
10.184 |
10.943 |
9.934 |
|
|
|
|
|
|
|
|
|
|
TAX |
3.518 |
4.221 |
3.141 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.666 |
6.722 |
6.793 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
31.233 |
24.511 |
17.718 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
37.899 |
31.233 |
24.511 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods at FOB Value |
NA |
17.644 |
23.374 |
|
|
|
Commission |
NA |
1.948 |
1.552 |
|
|
TOTAL EARNINGS |
NA |
19.592 |
24.926 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
114.012 |
84.894 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.84 |
15.98 |
16.15 |
|
The above information has been parted by Mr. Prashant
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.65
|
8.42
|
8.83
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.31
|
0.35
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.27
|
2.55
|
2.93
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52
|
1.40
|
1.29
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions 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 variations <> 20% |
-- |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
NO |
|
16. |
Details of sister concerns |
-- |
|
17. |
Major Suppliers |
NO |
|
18. |
Major Customers |
NO |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
YES |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
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, is available |
-- |
FORM 8
|
Corporate
identity number of the company |
U24110MH1990PTC045235 |
|
Name of the
company |
GANGWAL CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
25, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10097090 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
Citibank N.A. Trent House, 2nd Floor, G Block, Plot No. C 60, Bandra
Kurla Complex, Bandra (East), Mumbai – 400 051, |
|
Nature of
instrument creating charge |
Modification to
Memorandum of Entry |
|
Date of
instrument Creating the charge |
14.01.2010 |
|
Amount secured by
the charge |
Rs.32.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest The Borrower shall
pay interest such rate as may be determined by Citibank NA form time to time. Terms of
Repayment On Demand Margin Company shall at
all times during the continuance of this security maintain a sufficient
amount to provide the margin of security as may from time to time advised by
the banks. Extent and
Operation of the charge Company accorded
and gave oral consent to the Citibank and Citibank acting for itself and as
agent of 3i-Infotech Trusteeship Services Limited (“Security Trustee for
ICICI Bank and hereinafter referred to as ICICI Bank Limited”) to continue to
hold and retain the title deeds (by way of constructive delivery) in respect
of its immovable properties. Others The charge
created in favour of Citibank N.A. for their Credit facility of Rs.32.000
Millions, shall rank pari passu first charge with ICICI bank limited for
their working capital facility of Rs.2.000 Millions and Term Loan of
Rs.15.600 Millions. |
|
Short particulars
of the property charged |
Equitable
Mortgage on property including Land and Building situated at 306, 3rd
Floor, CTS No. 10A of Village Chincholi Taluka, Malad (West), Mumbai-400064, |
|
Particulars of
the present modification |
The mortgage/ charge
shall now stand increased from Rs.22.000 Millions to Rs.32.000 Millions in
favour of Citibank NA |
FIXED ASSETS
Land
·
· Computers
· Furniture and Fixtures
· Motor Car
· Air Conditioner
·
Aqua Guard
·
Card Scanner
·
Office Equipment
·
Telephone System
·
Time Punching Machine
·
Safe Godrej
·
Xerox WC 5016
·
Office Premises
Plant and Machinery
·
Air Conditioner
·
Factory Equipment
·
Laboratory Equipment
·
Production
·
Q.C.
·
Research and Development
·
Machineries
·
Electrical Installations
·
Computer Factory
·
R and D Lab Equipment
·
Furniture (Interior
Work)
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.72 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.