%20PRIVATE%20LIMITED-130288%2024-Jan-2011_files/image002.jpg){kind=small}
BUSINESS INFORMATION REPORT
1. Summary Information
|
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Country |
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Company Name |
CHAROEN POKPHAND ( |
Principal Name 1 |
Mr. Prasert Poongkumarn |
|
Status |
Good |
Principal Name 2 |
Mr. Vitoon Kittimongkolsuk |
|
|
|
Registration # |
18- 38419 |
|
Street Address |
47/D3, |
||
|
Established Date |
16.06.1997 |
SIC Code |
-- |
|
Telephone# |
91-44-24470790/
24470897/ 24475578 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-24472880 |
Business Style 2 |
Importer |
|
Homepage |
Product Name 1 |
Live Poultry |
|
|
# of employees |
150 (Approximately) |
Product Name 2 |
Poultry feed |
|
Paid up capital |
Rs.620,687,000/- |
Product Name 3 |
- |
|
Shareholders |
Foreign holdings- 100% |
Banking |
HDFC Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
13 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A (59) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
Charoen
Pokphand Industry Company Limited |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
705,326,000 |
Current Liabilities |
698,037,000 |
|
Inventories |
1679,521,000 |
Long-term Liabilities |
400,000,000 |
|
Fixed Assets |
905,032,000 |
Other Liabilities |
173,340,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,271,377,000 |
|
Invest& other Assets |
208,084,000 |
Retained Earnings |
1605,899,000 |
|
|
|
Net Worth |
2226,586,000 |
|
Total Assets |
3,497,963,000 |
Total Liab. & Equity |
3,497,963,000 |
|
Total Assets (Previous Year) |
2359,467,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
6898,041,000 |
Net Profit |
613,829,000 |
|
Sales(Previous yr) |
4281653,000 |
Net Profit(Prev.yr) |
240,607,000 |
MIRA
INFORM REPORT
|
Report Date : |
24.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHAROEN POKPHAND
( |
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Registered
Office : |
47/D3, |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
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|
Date of
Incorporation : |
16.06.1997 |
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|
|
|
Com. Reg. No.: |
18- 38419 |
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|
|
|
CIN No.: |
U01211TN1997PTC038419 |
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|
TAN No.: (Tax
Deduction & Collection Account No.) |
CHEC02267G |
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|
Legal Form : |
Private Limited
Liability Company |
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|
|
|
Line of
Business : |
Manufacturer,
Importer and Exporter of Live Poultry and Poultry Feed. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 8900000 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established 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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office : |
47/D3, |
|
Tel. No.: |
91-44-24470790/
24470897/ 24475578 |
|
Fax No.: |
91-44-24472880 |
|
E-Mail : |
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Website: |
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Head Office : |
Flat No. 1, Riya Apartments,
38/39, Nrupatunga Road, Behind Petrol Bunk, Virgonar Post, Bhattarahalli,
Bangalore – 560049, India |
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|
|
|
Factory : |
130, Devanahalli
Cross, |
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Corporate
Office : |
104, G N T Road, Nallur and Vijaynallur Village, Sholavaram Post, Red
Hills, Chennai-600 067, Tamilnadu, India |
|
Tel. No.: |
91-44-26419465/67/68/264195/45/46/47 |
|
Fax No.: |
91-44-26419466/9544 |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Prasert Poongkumarn |
|
Designation : |
Director |
|
Address : |
47/D3, |
|
Date of
Appointment : |
16.06.1997 |
|
|
|
|
Name: |
Mr. Vitoon Kittimongkolsuk |
|
Designation : |
Director |
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Address : |
47/D3, |
|
Date of Birth
: |
03.12.1964 |
|
Qualification
: |
B.A. |
|
Experience : |
21 years |
|
Date of
Appointment : |
23.02.2004 |
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|
|
|
Name: |
Mr. Adirek Sripratak |
|
Designation : |
Director |
|
Address : |
47/D3, |
|
Date of
Appointment : |
23.02.2004 |
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|
|
|
Name: |
Mr. Chunwong Preeda |
|
Designation : |
Director |
|
Address : |
47/D3, |
|
Date of Birth
: |
23.01.1963 |
|
Qualification
: |
B.Sc. |
|
Experience : |
26 years |
|
Date of
Appointment : |
03.05.2006 |
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|
|
|
Name : |
Mr. Monrti Suwanposri |
|
Designation : |
Director |
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Address : |
69/57, Village No.6, Jomthong Sub district, |
|
Date of
Appointment : |
01.04.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Charoen Pokphand
Industry Company Limited, |
|
44193058 |
|
Charoen Pokphand
Food Public Company Limited, |
|
17875676 |
|
Total |
|
62068734 |
As on 27.09.2010
|
Category
|
Percentage |
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|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
BUSINESS DETAILS
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Line of
Business : |
Manufacturer, Importer
and Exporter of Live Poultry and Poultry Feed. |
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Products : |
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Imports : |
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Products : |
Raw Materials |
GENERAL INFORMATION
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No. of Employees : |
150 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Kurien and
Company Chartered Accountants |
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Address : |
10, |
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Tel No.: |
91-44-28554447/
28554019 |
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Fax: |
91-44-28553521 |
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E-Mail: |
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Holding Company: |
Charoen Pokphand Industry Company Limited, |
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|
|
|
Ultimate Holding Company: |
Charoen Pokphand
Food Public Company Limited, |
CAPITAL STRUCTURE
As on 27.09.2010
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
63000000 |
Equity Share |
Rs.10/- each |
Rs.630.000
Millions |
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|
|
|
|
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
62068734 |
Equity Share |
Rs.10/- each |
Rs.620.687
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 |
620.687 |
620.687 |
620.687 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1605.899 |
992.071 |
751.464 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2226.586 |
1612.758 |
1372.151 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
400.000 |
300.000 |
500.000 |
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|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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|
TOTAL BORROWING |
400.000 |
300.000 |
500.000 |
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|
DEFERRED TAX LIABILITIES |
56.520 |
55.504 |
45.655 |
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TOTAL |
2683.106 |
1968.262 |
1917.806 |
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APPLICATION OF FUNDS |
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|
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|
FIXED ASSETS [Net Block] |
905.032 |
879.162 |
744.292 |
|
|
Capital work-in-progress |
208.084 |
20.891 |
106.537 |
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|
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|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
1679.521
|
1090.579 |
1165.099 |
|
|
Sundry Debtors |
59.257
|
72.743 |
45.756 |
|
|
Cash & Bank Balances |
555.284
|
227.465 |
129.359 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
90.785
|
68.627 |
58.085 |
|
Total
Current Assets |
2384.847
|
1459.414 |
1398.299
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
301.531
|
245.169 |
|
|
|
Other Current Liabilities |
396.506
|
96.618 |
306.069 |
|
|
Provisions |
116.820
|
49.418 |
25.253
|
|
Total
Current Liabilities |
814.857
|
391.205 |
331.322
|
|
|
Net Current Assets |
1569.990
|
1068.209 |
1066.977
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2683.106 |
1968.262 |
1917.806 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
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|
|
|
|
|
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Income |
6898.041 |
4281.653 |
4024.448 |
|
|
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Other Income |
8.965 |
4.448 |
4.227 |
|
|
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TOTAL |
6907.006 |
4286.101 |
4028.675 |
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
5964.191 |
3915.950 |
3530.113 |
|
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|
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PROFIT BEFORE
TAX |
942.815 |
370.151 |
498.562 |
|
|
|
|
|
|
|
|
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Less |
TAX |
328.986 |
129.544 |
172.746 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
613.829 |
240.607 |
325.816 |
|
|
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
529.948 |
247.973 |
239.269 |
|
|
|
Stores & Spares |
18.082 |
9.445 |
73.755 |
|
|
|
Capital Goods |
7.573 |
0.752 |
0.000 |
|
|
|
Others |
0.000 |
4.164 |
4.595 |
|
|
TOTAL IMPORTS |
555.603 |
262.334 |
317.619 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.89 |
- |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
8.89
|
5.61 |
8.10
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.67
|
8.65 |
12.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.66
|
15.83 |
23.27
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.23 |
0.36
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.55
|
0.43 |
0.61
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.93
|
3.96 |
4.22
|
LOCAL AGENCY FURTHER INFORMATION
BUSINESS EXPANSION
The Company has
expanded its business operations by constructing Feed mills at Pune in
Maharashtra and Chittoor in Andhra Pradesh and by establishing Breeder and
Hatchery operations at Pune in Maharashtra,
The Company has
also expanded its business operations at Andhra Pradesh by absorbing the
Broiler Integration, Feedmill, Breeder and Hatchery Units from C. P.
Aquaculture (
Further the
Company has plans to commence Feedmill operations at Haryana for which the
process of feasibility survey and other relevant operations are in full swing.
The Directors are happy about the Company’s growth and progress and the Company
is expected to achieve high profit levels in the years to come.
FORM 8
|
Corporate
identity number of the company |
U01211TN1997PTC038419 |
|
Name of the
company |
CHAROEN POKPHAND
( |
|
Address of the
registered office or of the principal place of business in |
47/D3, |
|
This form is for |
Modification of
charge |
|
Type of charge |
§
Book
Debts §
Movable
Property §
Floating
Charge |
|
Particular of
charge holder |
HDFC Bank Limited
HDFC Bank House,
Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, CIN No.:
L65920MH1994PLC080618 |
|
Nature of
instrument creating charge |
Letter of
Hypothecation of Stocks and Book Debts dated 24th May 2007 |
|
Date of
instrument Creating the charge |
24.05.2007 |
|
Amount secured by
the charge |
Rs.700.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: As stipulated by
the bank from time to time Terms of
repayment: Repayable on
Demand Margin: As stipulated by
the bank from time to time Extent and
Operation of the charge: Hypothecation by
way first exclusive charge on all the stock in trade and book debts of the
company both present and future. |
|
Particulars of
the property charged |
Hypothecation by
way first exclusive charge on all the stock in trade and book debts of the
company both present and future. |
|
Particulars of
the present modification |
The charge has
been enhanced from Rs.500.000 Millions to Rs.700.000 Millions |
|
Name of the company |
CHAROEN POKPHAND INDIA PRIVATE LIMITED |
|
Presented By |
Mr. Kwanchai Chaiprem, AVP Finance |
|
1) Date and
description of instrument creating the change |
15.03.2005 Letter of
Hypothecation of Stocks |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
CC : Rs.100.000
millions STL : Rs.150.000
millions Total :
Rs.250.000 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 |
Hypothecation by
way of exclusive first charge onall the stock in trade both present and
future consisting of raw materials, finished goods, goods in process of
manufacturing and other merchandise whatsoever being movable properties now
or at any time hereafter belonging to us or at out disposal and now or at any
time and from time to time hereafter stored or to be stored or brought into
or upon or in course of transit to our factory or premises or at any other
place whatsoever and wheresoever in our possession or occupation or at any
other premises or place. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Nature of Facility : Cash credit / WCDL : Rs.100.000 millions Short Term Loan : Rs.150.000 millions Rate of interest for CC/WCDL: Rs.6.50% p.a. interest payable at
monthly rest. Margin of security : 25% on stock |
|
5) Name and
Address and description of the person entitled to the charge. |
HDFC Bank Limited Mariam Centre, 751-B, Anna Salai, Chennai – 600002, |
|
6) Date and brief description of instrument
modifying the charge |
Letter of
hypothecation of stocks and book debts dated 27.01.2006 |
|
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. |
The charge is now
enhanced to Rs.400.000 millions for the below facilities : Cash credit /
WCDL/Short Term Loan : Rs.250.000 millions Non funded
facilities : Rs.150.000 millions Secured by
hypothecation by way of exclusive first charge on all the stock in trade both
present and future consisting of raw materials, finished goods, goods in
process of manufacturing and other merchandise whatsoever being movable
properties now or at any time hereafter belonging to us or at our disposal
and now or at any time and from time to time hereafter stored or to be stored
or brought into or upon or in course of transit to our factory or premises or
at any other place whatsoever and wheresoever in our possession or occupation
or at any other premises or place. And All the book
debts, outstanding monies receivable, claims and bills which are now due and owing
or which may at any time hereafter during the continuance of this security
becomes due and owing to the borrower in the course or its business by any
person, firm, company or body corporate or by the Government Department or
office or any Municipal or local or public or semi Government Body or
authority or any body corporate of undertaking or project whatever n the
public sector. |
FIXED ASSETS:
§
Land
§
§
Other Building
§
Furniture and Fittings
§
Plant and Machinery
§
Production Systems
§
Energy Systems
§
Air Conditioner
§
Office Equipment
§
Computers
§
Vehicles
§
Motor car
§
Motor Cycle
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.45.70 |
|
|
1 |
Rs.72.78 |
|
Euro |
1 |
Rs.61.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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.