MIRA
INFORM REPORT
|
Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
RICELA HEALTH FOODS LIMITED (w.e.f. 07.07.2010) |
|
|
|
|
Formerly Known As
: |
A P SOLVEX LIMITED |
|
|
|
|
Registered
Office : |
IInd Floor, Jewel Plaza, College Road, Civil Lines, Opp. Sita Ram’s,
Ludhiana – 141001, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation
: |
13.11.1992 |
|
|
|
|
Com. Reg. No.: |
16-012726 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15142PB1992PLC012726 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDA00821C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA4459R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Rice Bran Oil |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1101000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established Company having satisfactory track.
General Financial Position is good. 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Varun Goyal |
|
Designation : |
Production Manager |
|
Contact No.: |
91-9779932229 |
|
Date : |
03.02.2011 |
LOCATIONS
|
Registered Office : |
IInd Floor, Jewel Plaza, College Road, Civil Lines, Opp. Sita Ram’s,
Ludhiana – 141001, Punjab |
|
Mobile No.: |
91-9779932229 (Mr. Varun Goyal) |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Corporate office
: |
Saron, Dhuri – Distt. Sangrur, |
|
Tel No. : |
91-1675-220700 / 221100 |
|
Fax no. : |
91-1675-222104 |
|
|
|
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Achhru Ram Sharma |
|
Designation : |
Managing Director |
|
Address : |
A.P. Enclave, Sangrur, |
|
Date of Birth/Age : |
29.08.1959 |
|
Date of Appointment : |
13.11.1992 |
|
DIN : |
00224747 |
|
|
|
|
Name : |
Mr. Vijay Kumar Goyal |
|
Designation : |
Director |
|
Address : |
Yash Choudhary Market, Dhuri, Sangrur – 148024, |
|
Date of Birth/Age : |
01.02.1960 |
|
Date of Appointment : |
13.11.1992 |
|
DIN : |
00162292 |
|
|
|
|
Name : |
Mr. Parshotam Dass Garg |
|
Designation : |
Director |
|
Address : |
A.P. Enclave, Sangrur, |
|
Date of Birth/Age : |
10.06.1994 |
|
Date of Appointment : |
09.12.2006 |
|
DIN : |
00147734 |
|
|
|
|
Name : |
Mr. Arun Kumar Goyal |
|
Designation : |
Director |
|
Address : |
A.P. Enclave, Sangrur, |
|
Date of Birth/Age : |
21.07.1961 |
|
Date of Appointment : |
13.11.1992 |
|
DIN : |
00162300 |
|
|
|
|
Name : |
Mr. Pawan Kumar Singla |
|
Designation : |
Director |
|
Address : |
Kothi Opp. PSEB, Dhuri, Sangrur – 148024, |
|
Date of Birth/Age : |
07.02.1948 |
|
Date of Appointment : |
21.12.1995 |
|
DIN : |
00280006 |
KEY EXECUTIVES
|
Name : |
Mr. Varun Goyal |
|
Designation : |
Production Manager |
|
Mobile No. : |
91-9815162850 / 9779932229 |
|
|
|
|
Name : |
Mr. Jatin Mehta |
|
Mobile No. : |
91-9820404943 |
|
E-mail : |
|
|
|
|
|
Name : |
Mr. Lajwinder Kumar |
|
Designation : |
R and D Manager |
|
Mobile No. : |
91-9569515250 |
|
E-mail : |
|
|
|
|
|
Name : |
Mr. Rajiv |
|
Mobile No. : |
91-9779500352 |
|
E-mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Achhru Ram Sharma |
|
14320 |
|
Mr. Vijay Kumar Goyal |
|
10160 |
|
Mr. Parshotam Dass Garg |
|
14220 |
|
Mr. Arun Kumar Goyal |
|
5300 |
|
Mr. Pawan Kumar Singla |
|
2895 |
|
BHim Sain Singla |
|
2310 |
|
Nimla Devi Sharma |
|
4250 |
|
Ravish Kumar Singla |
|
750 |
|
Rita Rani Singla |
|
750 |
|
Durgi Devi Singla |
|
1280 |
|
|
|
2490 |
|
NImmy Goyal |
|
2900 |
|
Bimal Muni Sharma |
|
1000 |
|
Sheela Devi Sharma |
|
10 |
|
Rekha Rani Goyal |
|
10 |
|
Subhash Chand Goyal |
|
240 |
|
Murti Devi Goyal |
|
210 |
|
Surinder Kumar Singla |
|
10 |
|
Kailash Wati Singla |
|
10 |
|
Ramesh Kumar Singla |
|
10 |
|
Dev Raj Singla |
|
1300 |
|
Tarsem Chand Goyal |
|
10 |
|
Kirtan Devi Sharma |
|
10 |
|
Kanta Rani Garg |
|
10 |
|
Pawan Kumar Singla, HUF |
|
125 |
|
Bala Ratan Sharma |
|
10 |
|
Parshotam Dass Garg, HUF |
|
10 |
|
Arun Kumar Goyal, HUF |
|
10 |
|
|
|
10 |
|
Sham Lal Goyal |
|
10 |
|
Devki Devi Goyal |
|
10 |
|
Vishal Kumar Goyal |
|
120 |
|
Luxmi Devi Garg |
|
10 |
|
RKB Financers Limited, |
|
3530 |
|
S.P.Scrips Limited, |
|
3500 |
|
Rajasthan Plantation Compa Limited, |
|
4000 |
|
NIshu Finvest Private Limited, |
|
3000 |
|
Kaveri Shilpkala Limited, |
|
5700 |
|
Swati Fashions Private Limited, |
|
2400 |
|
|
Toatl |
86900 |
As on 30.09.2009
|
Category |
Percentage |
|
Bodies corporate |
37.29 |
|
Directors or relatives of Directors |
62.53 |
|
Others |
0.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Rice Bran Oil |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS AS ON (31.03.2009)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Rice Bran Oil |
MTS |
57000 |
50653 |
|
R.B. Deoiled |
MTS |
100000 |
64308 |
Note : Installed Capacity is certified by the
management but not verified by the auditors being a technical matter.
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and OEM’s |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Cash Credit – Rs. 86.000 million
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. C. Vasudeva and Company Chartered Accountant |
|
Address : |
B-XIX-220, |
|
Tel. No.: |
91-161-2774527 |
|
Mobile No.: |
91-9815420555 |
|
Fax No.: |
91-161-2771618 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No.: |
AABFS5902N |
CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.100/-each |
Rs.10.000 million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,000 |
Issued - Equity Shares |
Rs.100/-each |
Rs.9.000 million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
86,900 |
Subscribed and Paid-up - Equity Shares |
Rs.100/-each |
Rs.8.690 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.690 |
7.020 |
7.020 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
266.578 |
179.107 |
154.584 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
275.268 |
186.127 |
161.604 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
400.457 |
521.452 |
310.363 |
|
|
2] Unsecured Loans |
177.303 |
219.679 |
207.152 |
|
|
TOTAL BORROWING |
577.760 |
741.131 |
517.515 |
|
|
DEFERRED TAX LIABILITIES |
16.301 |
10.804 |
10.825 |
|
|
|
|
|
|
|
|
TOTAL |
869.329 |
938.062 |
689.944 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
259.135 |
132.623 |
119.609 |
|
|
Capital work-in-progress |
87.322 |
0.382 |
2.435 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
436.266
|
619.020 |
466.376 |
|
|
Sundry Debtors |
110.616
|
124.834 |
104.065 |
|
|
Cash & Bank Balances |
20.320
|
38.805 |
20.084 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
27.761
|
88.998 |
27.084 |
|
Total
Current Assets |
594.963
|
871.657 |
617.609 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
25.223
|
52.086 |
33.366 |
|
|
Other Current Liabilities |
46.155
|
14.138 |
16.467 |
|
|
Provisions |
0.713
|
0.376 |
(0.124) |
|
Total
Current Liabilities |
72.091
|
66.600 |
49.709 |
|
|
Net Current Assets |
522.872
|
805.057 |
567.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
869.329 |
938062 |
689.944 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2805.309 |
2717.655 |
1618.609 |
|
|
|
Other Income |
4.320 |
1.663 |
2.373 |
|
|
|
TOTAL (A) |
2809.629 |
2719.318 |
1620.982 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material Consumed |
2387.028 |
2374.510 |
1461.686 |
|
|
|
Purchase of Finished goods |
0.525 |
2.664 |
3.273 |
|
|
|
Manufacturing and other expenses |
247.541 |
199.743 |
124.036 |
|
|
|
Personnel Expenses |
20.381 |
16.330 |
14.344 |
|
|
|
Administrative and other Expenses |
19.011 |
17.623 |
15.888 |
|
|
|
Selling and distribution Expenses |
35.594 |
40.683 |
28.920 |
|
|
|
Increase/Decrease In Stock Of Finished Goods |
(18.127) |
(24.790) |
(78.666) |
|
|
|
TOTAL (B) |
2691.953 |
2626.763 |
1569.481 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
117.676 |
92.555 |
51.501 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
41.838 |
39.897 |
16.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
75.838 |
52.658 |
34.745 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.875 |
19.617 |
18.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
51.963 |
33.041 |
16.666 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
17.717 |
11.004 |
6.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
34.246 |
22.037 |
10.440 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
116.081 |
94.344 |
84.104 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.300 |
0.300 |
0.200 |
|
|
|
Dividend |
0.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
150.027 |
116.081 |
94.344 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.635 |
0.000 |
0.000 |
|
|
|
Others |
0.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
0.635 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
452.00 |
313.92 |
148.72 |
|
|
Particulars |
|
31.03.2010 |
|
Sales Turnover |
|
3000.000 |
Expected Sales ( 2010-2011 ) : Rs. 3500.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
1.22
|
0.81 |
0.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.85
|
1.22 |
1.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.08
|
3.29 |
2.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.18 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.00
|
8.31 |
6.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.08 |
1.09 |
LOCAL AGENCY FURTHER INFORMATION
Registered Office of the company has been shifted from 39, Udham Singh
Nagar,
FIXED ASSETS :
-
Land
-
Building
-
Plant and Machinery
-
Furniture and Fixture
-
Vehicles
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U15142PB1992PLC012726 |
|
Name of the
company |
Ricela Health
Foods Limited |
|
Address of the
registered office or of the principal place of business in |
IInd Floor, Jewel Plaza, College Road, Civil Lines, Opp. Sita Ram’s,
Ludhiana – 141001, Punjab |
|
This form is for |
Creation
of Charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
Punjab and Sind Bank, Dhuri Branch, Punjab- 148024, |
|
Nature of
instrument creating charge |
Hypothecation of
Goods to secure a demand cash credit |
|
Date of
instrument Creating the charge |
09.04.2010 |
|
Amount secured by
the charge |
Rs.86.000 million |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
a) Rate of Interest – 11.25% b)Terms of
Repayment – repayable in 28 quarterly instalments of Rs.307.000 million each
after a moratorium period of 2 months. c) Margin – 25% d) Extent and
Operation of the charge - 100% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Plant and
machinery located at |
As per Web Details
INTRODUCTION
Established in 1992
with the sole objective of producing and promoting “Rice Bran Oil ”as World’s
Healthiest Cooking Oil”, Ricela Health Foods Limited (formerly known as A.P
Solvex Limited) is today World’s largest Producer of Rice Bran oil. We are
located in district Sangrur in the Punjab Province of India, which enjoys the
distinction of being one of largest rice producing districts in
The health benefits of Rice Bran oil has been known to people
from years. For the last over 50 years Rice Bran Oil is used as a premium
cooking oil in countries like Japan, Korea, China & Thailand. In
A.P Solvex Limited now (Ricela Health Foods Limited) enjoys the distinction of being the first company of the country, who made pioneering effort by setting up a 80 TPD Rice Bran Oil Extraction Plant in the year 1993 and 25 T.P.D. Rice Bran Oil Refining Plant in the year 1994. The process of refining was developed in house which was based upon Physical Refining Technique in which unlike the conventional process of Chemical Refining, no acid (caustic) is used. The patent for the process is registered with the Government of India in the name of Mr. A.R. Sharma, C.M.D. of the company.
Government of
First National Award
– 2007 for R & D upon Mr. A.R. Sharma, Chairman Ricela Health Foods
Limited. Mr. Sharma received this prestigious award from the Hon’ble Prime
Minister of India, Dr. Manmohan Singh at a function held in Vigyan Bhawan,
Second National Award
- 2009 received The National Technology Award for successful
commercialization of indigenous technology for the year 2009 on the occasion of
Technology day function on 11th may, 2010 from Hon’ble Dr. A.P.J Abdul Kalam,
at
Third National Award
2009 - Mr. A.R Sharma, Chairman-cum-Managing Director of the company
received the First National Award-2009 for outstanding efforts in
entrepreneurship from Her Excellency Smt. Pratibha Patil, Hon’ble President of
India on 31st August, 2010 at
At Present - The Group Companies has Rice Bran Oil Extraction capacity of more than 2000 tonnes. The Rice Bran Oil Refining capacity of the company is 600 TPD. The company has been conferred upon highest production award for Refined Rice Bran Oil for the last eight years consecutively. The turnover of the company has shot to Rs. 5000.000 million in the year 2009-10 from just Rs. 52.900 millions in the year 1993-94. To cater to the consumer pack market company has a state of art packaging division of 440 Kl/day. The company is readily making lot of efforts to go for backward and forward integration. According to Mr. Sharma the backward integration will ensure quality raw material whereas forward integration is a step forward to value addition.
The company is selling its product under the brand name,
“Ricela”, which has bagged award for being the Best Brand in Rice Bran Oil
category from Glob oil. It is due to the management’s effort that the companies
brand Ricela is today synonymous with Rice Bran Oil. The demand for Refined
Rice Bran Oil is increasing day by day due to growing awareness about its
health benefits. Now the companies in
Future - The company is driven by its vision to be a leading global player in production and marketing of Health Oils, Functional Foods and Nutraceuticals. Company has a DSIR approved R&D facility with all the necessary testing facilities. The Company is committed to produce nutraceuticals from the residues generated during the refining of Rice Bran Oil. The company is currently working jointly with leading Research Institutes to develop necessary processes for producing various Nutraceuticals.
PRESS RELEASE
Mr. A.R. Sharma,
Chairman-cum-Managing Director of Ricela Group of Companies, receiving the
First National Award -2009 for outstanding efforts in Entrepreneurship from Her
Excellency Smt. Pratibha Devisingh Patil Hon’ble President of India on 31st
August, 2010 at
Dhuri Industrialist
gets first national award
Mr. A.R. Sharma, a first generation entrepreneur from a small town of
Unfortunately, though
The Group now plans to produce nutraceuticals from the residues generated
during refining of rice bran oil. They are working jointly with leading
research institutes to develop necessary processes for the same, adds Sharma.
Besides marketing the product in consumer packs under the brand name “Ricela”,
the company is supplying it to Marico Limited for its popular edible oil blend
“Saffola Gold” & Agro Tech Foods Limited for “Sundrop-Heart” both of which
contain 80 percent rice bran oil. It is also supplying its product to Pepsico
for use in frying of its famous snacks such as “Kurkure”, “Lays” and “Uncle
Chips.”
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.45.37 |
|
|
1 |
Rs.73.54 |
|
Euro |
1 |
Rs.62.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.