MIRA
INFORM REPORT
|
Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
GANESH POLYCHEM LIMITED (w.e.f. 23.01.2003) |
|
|
|
|
Formerly Known
As : |
GANESH POLYCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Udyog Kshetra, 2nd
Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.11.2001 |
|
|
|
|
Com. Reg. No.: |
133900 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.31.140
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299MH2001PLC133900 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG07085B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG6160B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
The company is engaged in the business of Manufacturing of Specialty
Chemicals. |
|
|
|
|
No. of Employees
: |
Approximately 5 (In Office) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1261000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well 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.
INFORMATION PARTED BY
|
Name : |
Mr. Chetan Gandhi |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-67976611 |
|
Date : |
06.07.2011 |
LOCATIONS
|
Registered Office : |
Udyog Kshetra, 2nd
Floor, |
|
Tel. No.: |
91-22-67976666 |
|
Fax No.: |
91-22-25653234 |
|
E-Mail : |
|
|
|
|
|
Factory : |
BanChem House, P-63, Milap
Nagar, |
|
Tel. No.: |
91-251-2448395 (3 Lines) |
|
Fax No.: |
91-251-2451929 |
DIRECTORS
As on 30.09.2010
|
Name : |
Ms. Hetal Gogri
Gala |
|
Designation : |
Director |
|
Address : |
552-B, Gopal Sadan,
Block No.801, 8th Floor, |
|
Date of Birth/Age : |
10.07.1975 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
00005499 |
|
|
|
|
Name : |
Mr. Hemant Ratnakar
Bandodkar |
|
Designation : |
Director |
|
Address : |
RL-72, Milap Nagar,
MIDC Residential Zone, Dombivli (East), Thane – 421 203, |
|
Date of Birth/Age : |
07.12.1973 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
01061791 |
|
|
|
|
Name : |
Mr. Rashesh Chandrakant
Gogri |
|
Designation : |
Director |
|
Address : |
601, Antariksh, |
|
Date of Birth/Age : |
03.06.1974 |
|
Date of Appointment : |
07.11.2001 |
|
DIN No.: |
00066291 |
|
|
|
|
Name : |
Mr. Ratnakar Tukaram
Bandodkar |
|
Designation : |
Director |
|
Address : |
RL-72, Milap Nagar,
MIDC Residential Zone, Dombivli (East), Thane – 421 203, |
|
Date of Birth/Age : |
27.12.1939 |
|
Date of Appointment : |
07.11.2001 |
|
DIN No.: |
00201704 |
|
|
|
|
Name : |
Mr. Venkateswara Rao
Samavedula |
|
Designation : |
Additional Director |
|
Address : |
Flat No.C-205, Everest Co-Operative Housing Society, G.I.D.C., Vapi, District Valsad, Vapi – 396 195, |
|
Date of Birth/Age : |
01.11.1956 |
|
Date of Appointment : |
08.02.2011 |
|
DIN No.: |
01713317 |
|
|
|
|
Name : |
Mr. Kirit Ratilal
Mehta |
|
Designation : |
Director |
|
Address : |
10, |
|
Date of Birth/Age : |
02.08.1948 |
|
Date of Appointment : |
06.08.2002 |
|
Date of Ceasing : |
08.02.2011 |
|
DIN No.: |
00051703 |
KEY EXECUTIVES
|
Name : |
Mr. Chetan Gandhi |
|
Designation : |
Finance Head |
|
|
|
|
Name : |
Sunil M. Dedhia and Company |
|
Designation : |
Company Secretaries |
|
Address : |
402, Kamladevi Apartment, N.M. Kale Marg, Agar Bazar, Dadar (West), Mumbai – 400 028, |
|
Tel. No.: |
91-22-24306166 |
|
E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
1. Aarti Industries Limited, |
|
999995 |
|
2. Aarti Industries Limited, |
|
1 |
|
3. Aarti Industries Limited, |
|
1 |
|
4. Aarti Industries Limited, |
|
1 |
|
5. Aarti Industries Limited, |
|
1 |
|
6. Aarti Industries Limited, |
|
1 |
|
7. Ratnakar T. Bandodkar |
|
250000 |
|
Gauri Bandodkar |
|
134250 |
|
8. Gauri R. Bandodkar |
|
250000 |
|
Ratnakar T. Bandodkar |
|
134250 |
|
9. Pallavi R. Bandodkar |
|
5000 |
|
Gauri R. Bandodkar |
|
245000 |
|
|
|
134250 |
|
10. Hemant R. Bandodkar |
|
250000 |
|
Ratnakar T. Bandodkar |
|
20000 |
|
|
|
134250 |
|
11. Rashesh C. Gogri |
|
20000 |
|
Chandrakant Gogri |
|
|
|
12. Aarti R. Gogri |
|
123510 |
|
Rajendra V. Gogri |
|
|
|
13. Hetal Gogri
Gala |
|
155730 |
|
Jaya C. Gogri |
|
|
|
14. Mirik R. Gogri |
|
107400 |
|
Rajendra V. Gogri |
|
|
|
15. Rashesh C. Gogri |
|
150360 |
|
Manisha R. Gogri |
|
|
|
Total
|
|
3114000 |
As on 14.03.2011
|
Names of Allottees |
|
No. of Shares |
|
Aarti Industries Limited, |
|
1199994 |
|
Aarti Industries Limited, Chandrakant V. Gogri
(Nominee of AIL) |
|
2 |
|
Aarti Industries Limited, Chandrakant V. Gogri
(Nominee of AIL) |
|
1 |
|
Aarti Industries Limited, Chandrakant V. Gogri
(Nominee of AIL) |
|
1 |
|
Aarti Industries Limited, Chandrakant V. Gogri
(Nominee of AIL) |
|
1 |
|
Aarti Industries Limited, Chandrakant V. Gogri
(Nominee of AIL) |
|
1 |
|
Ratnakar T. Bandodkar Gauri R. Ban |
|
461100 |
|
Gauri R. Bandodkar Ratnakar T. Bandodkar |
|
461100 |
|
Pallavi R. Bandodkar Gauri R. Bandodkar |
|
461100 |
|
Hemant R. Bandodkar Ratnakar T. Bandodkar |
|
485100 |
|
Rashesh C. Gogri Chandrakant V. Gogri |
|
24000 |
|
Aarti R. Gogri Rajendra V. Gogri |
|
148212 |
|
Hetal Gogri Gala Jaya C. Gogri |
|
186876 |
|
Mirik R. Gogri Rajendra V. Gogri |
|
128880 |
|
Rashesh C. Gogri Manisha R. Gogri |
|
180432 |
|
Total |
|
3736800 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
32.11 |
|
Directors
or relatives of directors |
|
60.47 |
|
Other
top fifty shareholders |
|
7.42 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of Manufacturing of Specialty Chemicals. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Installed
Capacity (In M.T. /P.A.) |
|
Di-Chloro Diphenyl Sulfone |
3,000 |
|
Di-Methyl Aniline |
3,500 |
|
Di-Methyl Sulphate |
5,000 |
|
Particulars |
Actual
Production QTY (KGS) |
|
Di-Chloro Di-Phenyl Sulfone |
1,254,500 |
|
Di-Amino Di-Phenyl
Sulfone |
26,000 |
|
Di-Methyl Aniline |
2,190,335 |
|
Di-Methyl Sulphate |
3,735,160 |
GENERAL INFORMATION
|
No. of Employees : |
Approximately 5 (In Office) |
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Bankers : |
State Bank of |
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Facilities : |
Notes: (i) In case of Working Capital Loans from
State Bank of (ii) In case of Packing Credit in Foreign Currency (PCFC) from State Bank
of aggregating to
Rs.70.000 millions (Previous year – Rs. NIL)
secured by hypothecation of raw material, stock in progress, semi finished
goods, finished goods, stores and spares and book debts in favour of the bank. Balance as on 31st March, 2010 is
Rs.29.500 millions. (Previous Year–Rs. Nil). (iii) In case of
Packing Credit in Export Packing Credit (EPC) from State Bank of (iv) In case of Corporate loan from State Bank of India of Rs.16.000
millions (Previous year 47.000 millions) secured by first charge by way of
mortgage on entire fixed assets of the company. Balance as on 31st
March, 2010 is Rs.13.200 millions (Previous Year – Rs.29.300 millions).
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vora Sanghavi and
Associates Chartered Accountants |
|
Address : |
203, Chheda Bhavan,
98, |
|
Tel. No.: |
91-22-23481063 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPV8139M |
|
|
|
|
Associates/Subsidiaries : |
Aarti Industries Limited Address: Plot No.801/23, GIDC Estate, Phase III, Valsad,
Vapi - 396 195, |
|
|
|
|
Related Parties : |
v
Anushakti Chemicals and
Drugs Limited v
Aarti Healthcare Limited v
Aarti Drugs Limited v
Hindustan Monomers Private Limited v
Poise Chemicals Private Limited |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6850800 |
Equity Shares |
Rs.10/- each |
Rs.68.508
millions |
|
|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3114000 |
Equity Shares |
Rs.10/- each |
Rs.31.140
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 |
31.140 |
31.140 |
31.140 |
|
|
2] Share Application Money |
0.000 |
3.600 |
3.600 |
|
|
3] Reserves & Surplus |
284.096 |
249.795 |
157.707 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
315.236 |
284.535 |
192.447 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
93.164 |
119.632 |
146.628 |
|
|
2] Unsecured Loans |
78.311 |
76.723 |
103.738 |
|
|
TOTAL BORROWING |
171.475 |
196.355 |
250.366 |
|
|
DEFERRED TAX LIABILITIES |
28.428 |
22.787 |
13.664 |
|
|
|
|
|
|
|
|
TOTAL |
515.139 |
503.677 |
456.477 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
321.857 |
273.071 |
249.452 |
|
|
Capital work-in-progress |
0.000 |
59.085 |
41.474 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
72.275
|
54.732 |
60.560 |
|
|
Sundry Debtors |
113.701
|
115.363 |
167.465 |
|
|
Cash & Bank Balances |
4.664
|
7.845 |
(6.768) |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
71.543
|
50.925 |
37.635 |
|
Total
Current Assets |
262.183
|
228.865 |
258.892 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
52.849
|
42.262 |
86.562 |
|
|
Other Current Liabilities |
2.777
|
9.955 |
1.551 |
|
|
Provisions |
13.275
|
5.127 |
5.228 |
|
Total
Current Liabilities |
68.901
|
57.344 |
93.341 |
|
|
Net Current Assets |
193.282
|
171.521 |
165.551 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
515.139 |
503.677 |
456.477 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
467.907 |
769.634 |
587.918 |
|
|
|
Other Income |
2.228 |
3.020 |
0.559 |
|
|
|
TOTAL (A) |
470.135 |
772.654 |
588.477 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and other expenses |
357.334 |
572.686 |
432.353 |
|
|
|
Purchase of Goods traded in |
14.493 |
32.022 |
36.094 |
|
|
|
Office & Administrative Expenses |
4.237 |
4.099 |
3.713 |
|
|
|
Selling & Distribution Expenses |
15.094 |
13.870 |
15.212 |
|
|
|
Increase/decrease in stock |
(13.781) |
1.758 |
10.047 |
|
|
|
Non Operating Expenses |
0.000 |
0.000 |
0.058 |
|
|
|
TOTAL (B) |
377.377 |
624.435 |
497.477 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
92.758 |
148.219 |
91.000 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
22.593 |
28.359 |
25.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
70.165 |
119.860 |
65.922 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.022 |
18.470 |
15.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
48.143 |
101.390 |
50.910 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.841 |
9.303 |
1.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.302 |
92.087 |
49.817 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
188.651 |
106.298 |
73.121 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3.905 |
9.734 |
4.981 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
9.965 |
|
|
|
Dividend Tax |
0.000 |
0.000 |
1.694 |
|
|
BALANCE CARRIED
TO THE B/S |
219.048 |
188.651 |
106.298 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export Sales |
295.391 |
520.708 |
228.854 |
|
|
TOTAL EARNINGS |
295.391 |
520.708 |
228.854 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Packing Materials |
2.161 |
5.004 |
1.989 |
|
|
|
Raw Materials |
79.276 |
67.650 |
55.622 |
|
|
TOTAL IMPORTS |
81.437 |
72.654 |
57.611 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.02 |
29.57 |
16.00 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
851.956 |
|
|
|
|
|
The above information has been parted by Mr. Chetan
Gandhi (Finance Head).
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.30
|
11.92 |
8.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.29
|
13.17 |
8.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.24
|
20.20 |
10.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.36 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.76
|
0.89 |
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.81
|
3.99 |
2.77 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs.
in millions) |
31.03.2009 (Rs.
in millions) |
31.03.2008 (Rs.
in millions) |
|
Sundry Creditors for Goods and Expenses |
52.849 |
42.262 |
86.562 |
|
|
|
|
|
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90146367 |
|
Corporate
identity number of the company |
U24299MH2001PLC133900 |
|
Name of the
company |
GANESH POLYCHEM LIMITED |
|
Address of the
registered office or of the principal place of business in |
Udyog Kshetra, 2nd
Floor, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of E-Mail: kamalax_saraf@hotmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
deposit for creation of further charge for term loan overall limit where the
initial charge is created by way of mortgage by deposit of title deeds. ----
Form C.10 |
|
Date of instrument
Creating the charge |
03.02.2009 |
|
Amount secured by
the charge |
Rs.209.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As would be
determined by the Bank from time to time. Terms of
Repayment: As per the
sanction terms and conditions of State Bank of Margin: As per the
sanction terms and conditions of State Bank of Extent and
Operation of the charge: As per the sanction
terms and conditions of State Bank of |
|
Short particulars
of the property charged |
All that piece of
land known as Plot No 408 in the Vapi notified
industrial area consisting revenue Survey Nos. 229/P and 223/P within the
village limits of Chanod Taluka,
Pardi Dist- Valsad
containing by admeasurement 9476 sq. mtrs. or thereabout together with all structures standing
thereon and bounded as followed. That is to say. On or towards the north by--
estate road, on or towards the south by---green space, on or towards the east
by ---Plot No 409, on or towards the west by ----Plot No 407. |
|
Date of latest
modification prior to the present modification |
03.02.2009 |
|
Particulars of
the present modification |
The original charge
was created on 12.12.2002 for Rs.85.000 millions 1stly modified on 18.6.2004
for Rs.93.800 millions 2ndly modified on 27.12.2006 for Rs.180.000 millions
3rdly modified on 03.02.2009 for Rs.200.000 millions 4thly modified on
03.02.2009 for Rs.209.000 millions now by this modification the co offered
its immovable properties as a security to secure its enhanced credit
facilities to the extent of Rs.209.000 millions. |
CONTINGENT
LIABILITIES
(a) Estimated amount
of contracts remaining to be executed on capital accounts and not provided for
Rs.1.823 millions Net of advances.
(b) In respect
Bank Guarantee Issued by company’s bankers Rs.8.766 millions.
(c) In respect of Bill Discounting not matured Rs.18.582 millions.
FIXED ASSETS:
v Land
v Goodwill
v Buildings
v Plant and Machinery
v Furniture and Fixtures
v Computer Systems
v Office Equipments
v Vehicles
v Technical Know-how
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.44.38 |
|
|
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.