MIRA
INFORM REPORT
|
Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
MANIPAL PRESS
LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.01.2000 |
|
|
|
|
Com. Reg. No.: |
08-26222 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U22219KA2000PLC026222 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM05742C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCM9516H |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of
Business : |
Providing
Printing Related Services. |
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 5300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and a 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 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 |
LOCATIONS
|
Registered
Office : |
|
|
Tel. No.: |
91-820-2571121/
2571151 to 55/ 271149-59 |
|
Fax No.: |
91-820-2570131/
2571162/ 70563/ 2571380 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
50000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Manipal Press Limited, Press Corner, Manipal – 576104, |
|
Tel no : |
91-820-2571151 to 2571155 |
|
Toll-free (From
US and |
1-877-675-7737 |
|
Fax No : |
91-820-2570131 / 2571162 |
|
E-Mail : |
info@manipalpress.com |
|
|
|
|
Branches : |
Located at : ·
·
Chennai
·
·
·
Mangalore
·
Mumbai
·
·
·
Ahmedabad
·
Chennai
·
Pune ·
Kolkata
|
|
|
|
|
Warehousing and
Distribution : |
· Mumbai ·
· Chennai ·
· Jaipur ·
· Kolkata ·
·
·
Ahmedabad / ·
·
·
·
·
· Felixstowe ·
·
·
·
·
·
·
·
·
·
|
|
|
|
|
International
Alliances : |
Thomos Greg and
Sons Cra 6# 34-44
Bagota, |
DIRECTORS
As on 28.09.2010
|
Name : |
Mr. Giulio
Olivotto |
|
Designation : |
Nominee Director |
|
Address : |
VIA G. M. Brunori, 45 Monteviale VI – 36050, |
|
Date of
Birth/Age : |
24.11.1945 |
|
Date of
Appointment : |
28.07.2007 |
|
Nominee
Company : |
Legoprint S.P.A., |
|
Email : |
|
|
|
|
|
Name : |
Mr. Satish T Pai |
|
Designation : |
Director |
|
Address : |
No.38, Anant
Nagar, Manipal – 576104, |
|
Date of
Birth/Age : |
26.11.1941 |
|
Date of
Appointment : |
13.01.2000 |
|
|
|
|
Name : |
Mr. Perdoor V.
Mallya |
|
Designation : |
Director |
|
Address : |
D63C,
Ananthnagar, II Stage, Near Water tank, Manipal, Udupi-576104, Karnataka |
|
Date of
Birth/Age : |
31.08.1948 |
|
Date of
Appointment : |
25.01.2000 |
|
|
|
|
Name : |
Mr. Katapady
Prabhakar Kamath |
|
Designation : |
Director |
|
Address : |
Shivaprabha,
Udupi, Katapady – 547 105, |
|
Date of
Birth/Age : |
21.04.1966 |
|
Date of
Appointment : |
25.01.2000 |
|
|
|
|
Name : |
Mr. Gautam T
Pai |
|
Designation : |
Director |
|
Address : |
38, Ananth Nagar,
Manipal – 576 119, |
|
Date of
Birth/Age : |
26.09.1974 |
|
Date of
Appointment : |
30.09.2003 |
|
|
|
|
Name : |
Mr. Sachin Tonse
Pai |
|
Designation : |
Director |
|
Address : |
14, Anant Nagar,
Manipal – 576 104, |
|
Date of
Birth/Age : |
10.03.1976 |
|
Date of
Appointment : |
16.04.2004 |
|
|
|
|
Name : |
Mr. Prabhu Sudhakar |
|
Designation : |
Director |
|
Address : |
Gerukatte Karnad,
Mulki, Udupi, Karnataka-574154 |
|
Date of
Birth/Age : |
12.04.1968 |
|
Date of
Appointment : |
25.01.2000 |
|
Date of
Ceasing : |
24.03.2005 |
|
|
|
|
Name : |
Mr. Tonse Satish Upendra
pai |
|
Designation : |
Managing Director |
|
Address : |
38, Ananth Nagar,
Manipal 576 104, Karnataka |
KEY EXECUTIVES
|
Name : |
Mr. Bharat K. Nayak |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2010
|
Names
of Shareholders |
|
No. of Shares |
|
|
|
|
|
T. Mohandas Pai |
|
40500 |
|
T. Satish U. Pai |
|
170904 |
|
Madhav Ramadas
Pai |
|
190128 |
|
T. Narayana Pai |
|
81000 |
|
T. Ashok Pai |
|
186474 |
|
T. Gautam Pai |
|
163314 |
|
Manipal
Prakashana Private Limited, Manipal |
|
1215000 |
|
T. Sachin Pai |
|
6000 |
|
Sandhya S Pai |
|
14064 |
|
T. Gayathri Pai |
|
23436 |
|
K. K. Pai |
|
5450 |
|
Rajan Ramdas Pai |
|
7026 |
|
Vasanthi Ramdas
Pai |
|
14064 |
|
Sharath
Investment company Private Limited, Manipal |
|
47808 |
|
Shivalli
Investment Company Private Limited, Manipal |
|
88128 |
|
T Sunil Ponse |
|
7032 |
|
T Sanjay pai |
|
9375 |
|
T. Narayan Pai
and Mrs. Vijaylaxmi N. Pai |
|
3516 |
|
Savoy Investment
Private Limited, Manipal |
|
4686 |
|
T Upendra Satish
Pai, HUF, Manipal |
|
3750 |
|
Manipal Media
Network Limited, Manipal |
|
4359409 |
|
Legoprint SpA, |
|
2246170 |
|
Simest SPA |
|
600000 |
|
|
|
|
|
Total |
|
9487234 |
As on 28.09.2010
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
30.00 |
|
Bodies corporate |
|
60.24 |
|
Directors or relatives of directors |
|
9.76 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Providing
Printing Related Services. |
|
|
|
|
Exports : |
|
|
Products : |
Printing
Materials / Books |
|
Countries : |
·
·
Nether
Land |
|
|
|
|
Imports : |
|
|
Products : |
·
Scratch Labels ·
Ink ·
Spares |
|
Countries : |
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
L/C |
GENERAL INFORMATION
|
Customers : |
Domestic
International
|
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|
No. of
Employees : |
1102
(Approximately) |
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Bankers : |
· Syndicate Bank Manipal Branch, Manipal-576104, · Corporation Bank Manipal Branch, Manipal-576104, · Vijaya Bank Founders Branch, · Manipal Co-operative Bank Limited ·
State Bank of · State Bank of India, Bangalore Corporate Bnaking Branch, No.25/1, Skip House, Museum Road, Bangalore – 560 025, Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sriramulu Naidu
and Company Chartered
Accountants |
|
Address: |
2nd
Floor, Rambhavan Complex, Kodialbail, Mangalore - Manipal, |
|
Pan No : |
AAVFS3877R |
|
|
|
|
Associates : |
·
Sharath Investment Company Private
Limited ·
Shivally Investment Company
Private Limited · Manipal Prakashna Private Limited ·
Manipal
Media Network Limited ·
Manipal
Informatics Private Limited ·
Manipal
Thomas Greg Press Private Limited |
|
|
|
|
Subsidiaries : |
·
Manipal Business Solutions Private Limited ·
MCT
Cards and Technology Private Limited U72900KA2008PTC045316 ·
Universal
Print Systems Private Limited U22213TN1995PLC031845 ·
Genesis
Packaging Private Limited U28992KA2007PTC041395 ·
Mancil
International Printing Press Limited |
CAPITAL STRUCTURE
As on 28.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
5000000 |
8% Redeemable Preference Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
|
Total |
Rs.250.000 millions |
||
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9487234 |
Equity Shares |
Rs.10/- each |
Rs.94.872 millions |
|
|
|
|
|
NOTE:
(9,00,000 Equity shares were issued otherwise
than for cash on the conversion of erstwhile firm ‘Manipal Power Press’ into
Company)
(22,13,688 Equity shares fully paid are allotted
by way of bonus shares)
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 |
94.872 |
94.872 |
94.872 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1259.293 |
1223.110 |
1118.885 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1354.165 |
1317.982 |
1213.757 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3154.508 |
2959.717 |
1343.208 |
|
|
2] Unsecured Loans |
75.183 |
293.011 |
437.495 |
|
|
TOTAL BORROWING |
3229.691 |
3252.728 |
1780.703 |
|
|
DEFERRED TAX LIABILITIES |
168.250 |
150.130 |
88.784 |
|
|
|
|
|
|
|
|
TOTAL |
4752.106 |
4720.840 |
3083.244 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2924.856 |
2944.387 |
1100.269 |
|
|
Capital work-in-progress |
229.519 |
133.233 |
750.547 |
|
|
|
|
|
|
|
|
INVESTMENT |
263.369 |
156.695 |
64.971 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
412.878 |
343.294 |
277.746 |
|
|
Sundry Debtors |
884.966 |
710.663 |
409.466 |
|
|
Cash & Bank Balances |
85.270 |
450.568 |
432.530 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
329.526 |
233.235 |
354.086 |
|
Total
Current Assets |
1712.640 |
1737.760 |
1473.828 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
168.582 |
104.087 |
82.940 |
|
|
Current Liabilities |
207.524 |
133.908 |
84.566 |
|
|
Provisions |
2.172 |
13.240 |
138.865 |
|
Total
Current Liabilities |
378.278 |
251.235 |
306.371 |
|
|
Net Current Assets |
1334.362
|
1486.525
|
1167.45
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4752.106 |
4720.840 |
3083.244 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
2893.563 |
2320.728 |
1702.525 |
|
|
|
Other Income |
103.584 |
60.924 |
32.929 |
|
|
|
TOTAL (A) |
2997.147 |
2381.652 |
1735.454 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase / Decrease in stock |
20.774 |
(23.701) |
(12.249) |
|
|
|
Raw Material Consumed |
1478.863 |
1199.726 |
784.068 |
|
|
|
Production Expenses |
423.533 |
263.251 |
189.538 |
|
|
|
Salary, Wages and Employee Benefit |
224.218 |
180.469 |
138.961 |
|
|
|
Selling Expenses |
317.932 |
256.344 |
193.148 |
|
|
|
Other Expenses |
62.975 |
75.039 |
43.763 |
|
|
|
TOTAL (B) |
2528.295 |
1974.829 |
1338.229 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
468.852 |
406.823 |
397.225 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
262.949 |
152.851 |
92.117 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
205.903 |
253.972 |
305.108 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
151.602 |
75.302 |
58.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
54.301 |
178.670 |
246.995 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
18.120 |
63.345 |
86.901 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
36.181 |
115.325 |
160.094 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
430.830 |
416.748 |
344.447 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
11.000 |
20.000 |
|
|
|
Dividend |
NA |
9.487 |
19.680 |
|
|
|
Tax on Dividend |
NA |
1.612 |
3.344 |
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on F.O.B. basic |
185.880 |
115.172 |
39.944 |
|
|
|
Informatics Division |
0.000 |
0.000 |
16.003 |
|
|
TOTAL EARNINGS |
185.880 |
115.172 |
55.947 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
125.690 |
233.214 |
110.206 |
|
|
|
Stores & Spares |
17.952 |
6.186 |
14.531 |
|
|
|
Capital Goods |
204.237 |
828.528 |
451.818 |
|
|
TOTAL IMPORTS |
347.879 |
1067.928 |
576.555 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.81 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
PAT / Total Income
|
(%)
|
1.20 |
4.84 |
9.43 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
1.81 |
7.70 |
14.51 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
3.17 |
3.82 |
9.59 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.04 |
0.14 |
0.20 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
0.27 |
2.66 |
0.25 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
4.52 |
6.92 |
4.81 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
The company was
Partnership concern reconstituted on 28.11.1999, with name and style of
‘Manipal Power Press’. Later on it has converted as Joint Stock Company on
13.01.2000 with the name and style of “Manipal Press Private Limited”.
Again the company
has been converted as public limited company w.e.f. 04.04.2000.
OVERVIEW:
The turnover of the
company increased to Rs.3016.300 Millions during the year as compared to
Rs.2409.100 Millions a growth of 25.20% The export turnover grew from
Rs.222.200 Millions to Rs.322.400 Millions with an increase of 45.22%. The
operating profit increased by 4.85% despite recessionary conditions prevailing
due to downturn in US economy and other parts of the World which have impacted
the margins, throughout the year. The market conditions were extremely
competitive both had domestic and international market there by causing
reduction in the Gross margins. The company had invested in the state of art
technology and created huge infrastructure by setting up a modern plant
especially for commerercial and packing devisions.
During the year
company interest cost and depreciation charge went up substantially i.e. Rs.
263.900 Millions and Rs. 151.600 Millions as against Rs. 152.800 Millions and
Rs. 753.000 Millions in the previous year due to the huge capital expenditure
incurred by the company during the previous year. This has resulted in lower
profit before tax of Rs. 653.000 Millions as against Rs. 229.600 Millions in
the previous year. The profit after tax adjusting for exceptional items stood
at Rs. 362.000 Millions as against Rs. 115.300 Millions in the previous year.
The Company has
taken steps to improve the performance by resorting to cost reduction measures
and by eliminating unrewarded businesses.
PROJECTIONS FOR THE YEAR 2009-10
The company has set
an ambitious target for top-line at Rs.3300.000 Millions for the year
2009-2010. The Consolidated Revenue target for the year is Rs.3850.000
Millions. The company’s commercial division which is housed in a new infrastructure
having state of the art plant has started getting good response in the market
and the impact can be visible in the second half of the year 2009-2010. The
company has taken steps to reduce cost of operations and cost of borrowing by
cost cutting measured and through currency swaps.
FORM: 8
|
Name of the company |
MANIPAL PRESS
LIMITED |
|
Presented By |
P.V. Mallya |
|
1) Date and description of instrument creating the change |
Composite
Hypothecation Agreement dt.02.09.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.10.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock in trade
and charge on book debts |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Hypothecation of
stock in trade consist of raw materials such as paper, all kinds of board,
gum etc, work-in-progress and finished goods already stored, to be brought
and to be stored from time to time at various godowns mentioned in the
hypothecation Deed and book debts Interest at 9%
per annum (PLR minus 2%) or at such rate of interest as may be fixed by the
bank |
|
5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank Manipal Branch,
Manipal – 576 104, |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U22219KA2000PLC026222 |
|
Name of the
company |
Manipal Press
Limited |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Others |
|
Particular of
charge holder |
Syndicate Bank Manipal Branch,Manipal-576104, E-Mail: ka.0111mnpl@syndicatebank.co.in
|
|
Nature of description
of the instrument creating or modifying the charge |
Composite
hypothecation agreement General agreement
|
|
Date of
instrument Creating the charge |
26.06.2009 |
|
Amount secured by
the charge |
Rs.37.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @10.5%
p. a. being -2% over and above the Syndicate Bank’s prime lending rates (PLR) Terms of Repayment Repayable in quarterly
installment at the rate of Rs.1.950 Millions per quarter Margin Margin at 21% Extent and Operation of the charge Charge extends on
all the aforesaid assets throughout the period of sanction limit by way of
first charge |
|
Short particulars
of the property charged |
Hypothecation of
Plant and Machineries belonging to the company |
FIXED ASSETS:
v
v
v
Buildings
– Freehold
v
Buildings
– Leasehold
v
Electrical
Fittings
v
Furniture
and Fittings
v
Office
Equipments
v
Plant
and Machinery
v
Car,
van and Other Vehicles
v
Computers
and Pheripherals
CONTINGENT LIABILITIES
|
Particulars |
31.03.2009 (Rs. In Millions
|
|
|
|
|
A) Letter of credit |
40.041 |
|
B) Bank Guarantees – Printing Division |
1.907 |
|
C) Cheques/ DD’s Discounted |
|
|
D) In respect of Guarantees given for loans
taken by the following companies from Banks - |
|
|
-
Manipal International Printing Press Limited, |
102.500 |
|
- MCT
Cards and Technology Private Limited, Manipal |
30.000 |
|
-
Universal prints Systems limited, Chennai |
210.000 |
|
|
|
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.45.59 |
|
|
1 |
Rs.72.31 |
|
Euro |
1 |
Rs.60.73 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.