MIRA
INFORM REPORT
|
Report Date : |
08.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALLENGERS MEDICAL SYSTEMS LIMITED |
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Formerly Known As : |
ALLENGERS MEDICAL PRODUCTS PRIVATE LIMITED |
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Registered Office : |
Unit No. 202, Ansal’s |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
30.07.1992 |
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Com. Reg. No.: |
55-154688 |
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Capital
Investment / Paid-up Capital : |
Rs.114.090 Millions |
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CIN No.: [Company
Identification No.] |
U33111DL1992PLC154688 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLA10768C |
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PAN No.: [Permanent
Account No.] |
AABCA2332H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of X-Rays based Medical Equipments |
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No. of Employees
: |
650 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 935000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. G. P. Sharma |
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Designation : |
General
Manager |
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Date : |
05.07.2011 |
LOCATIONS
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Registered Office/ Factory : |
Unit No. 202, Ansal’s |
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Tel. No.: |
91-11-25166712/ 32536567 |
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Mobile No.: |
91-9915193690 (Mr. R.S. Kanwar) |
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Fax No.: |
91-11-25432088 |
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E-Mail : |
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Website : |
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Area : |
3000 sq ft |
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Location : |
Owned |
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Head Office : |
S.C.O. 212-214, Sector 34-A, |
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Tel. No.: |
91-172-3012280-84/ 3012287/ 3012285/ 2725695 |
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Fax No.: |
91-172-2621912/ 2621913 / 2708031 |
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E-Mail : |
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Area : |
16000 sq ft |
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Location : |
Owned |
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Factory 1 : |
Bankapur, |
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Tel. No.: |
91-1762-282253 / 280253 |
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Fax No.: |
91-1762-285156 |
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Area : |
45000 sq mtr. |
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Location : |
Owned |
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European Representative: |
JMC Medical Sprl, 58, Avenue Du Parc De Woluwe , B – 1160 Bruxelles |
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Tel. No.: |
00/32.2.672.56.44 |
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Fax No.: |
00/32.2.662.29.92 |
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Contact Person : |
Mr. Jean Marc Cleays |
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E-Mail : |
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Branch Office : |
Located
at:
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DIRECTORS
As On 30.09.2010
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Name : |
Mr. Suresh Sharma |
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Designation : |
Chairman Cum Managing Director |
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Address : |
H. No. 1802, Sector 34 D, |
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Date of Birth/Age : |
14.10.1957 |
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Qualification : |
Engineering |
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Date of Appointment : |
30.07.1992 |
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DIN No. : |
00128139 |
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Name : |
Mr. Rajinder
Singh Kanwar |
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Designation : |
Whole Time Director |
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Address : |
Kanwar Complex, |
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Date of Birth/Age : |
03.09.1966 |
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Qualification : |
Engineering |
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Date of Appointment : |
01.01.2005 |
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DIN No. : |
00686742 |
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Name : |
Mr. Sanjeev
K. Marjara |
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Designation : |
Whole Time Director |
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Address : |
Opposite Narankari Bhawan, |
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Date of Birth/Age : |
30.12.1973 |
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Qualification : |
Engineering |
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Date of Appointment : |
01.01.2005 |
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DIN No. : |
00128144 |
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Name : |
Mr. R. K. Sehgal |
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Designation : |
Joint Managing Director |
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Address : |
# 351, Sector 15, |
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Date of Birth/Age : |
14.12.1960 |
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Qualification : |
Graduate Engineering |
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Date of Appointment : |
01.01.2005 |
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Date of Ceasing : |
31.01.2006 |
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Name : |
Mr. M. P Talwar |
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Designation : |
Executive Director, Engineering |
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Name : |
Mr. Arun Sharma |
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Designation : |
Additional Director |
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Address : |
# 851, Sector – 16, Panchkula - 134109, |
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Date of Birth/Age : |
17.05.1968 |
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Date of Appointment : |
01.01.2005 |
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DIN No. : |
00128143 |
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Name : |
Mr. Raman Kumar Narang |
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Designation : |
Whole Time Director |
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Address : |
C – 173, Malviya Nagar, Jaipur – 302017, |
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Date of Birth/Age : |
01.11.1952 |
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Date of Appointment : |
26.06.2010 |
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DIN No. : |
00500953 |
KEY EXECUTIVES
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Name : |
Mr. Yash Pal Sharma |
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Designation : |
Company Secretary |
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Address : |
H No. 3314, Sector 23-D, |
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Date of Birth/Age : |
08.11.1961 |
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Date of Appointment : |
12.01.2009 |
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Pan No. : |
AEYPS9737G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Suresh Sharma |
|
8020000 |
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Samidha Sharma |
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143800 |
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M. S. Sharma |
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12500 |
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Satish Sharma |
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5000 |
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Lakshya Research and Development Private Limited, |
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230000 |
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Shri Keshav Real Estate Private Limited , |
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20000 |
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Awing Steel Fabricators Private Limited , |
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485000 |
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Rajinder Singh Kanwar |
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10000 |
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Sanjeev Kumar |
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15000 |
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Suresh Sharma and Sons (HUF) |
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655000 |
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Rishab Sharma |
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105410 |
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Neelam Sharma |
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30210 |
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Wampum Finance Private Limited , |
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300000 |
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Ajay Kamboj |
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5000 |
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Yashpal Sharma |
|
750 |
As on 18.04.2011
|
List of Allottees |
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No. of Shares |
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City Centre Hotels Private Limited, |
|
500000 |
As on 30.09.2010
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Category |
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Percentage of
Holding |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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0.26 |
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Bodies Corporate |
|
9.07 |
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Directors or relatives of directors |
|
89.94 |
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Others top fifty shareholder |
|
0.73 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of X-Rays based Medical Equipments |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
X - Ray Machines |
Nos. |
- |
- |
981 |
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C – Arm Image Intensifier |
Nos. |
- |
- |
597 |
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Lithotripter |
Nos. |
- |
- |
27 |
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Mobile Cath Lab |
Nos. |
- |
- |
11 |
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Mammography |
Nos. |
- |
- |
33 |
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Others |
Nos. |
- |
- |
92 |
GENERAL INFORMATION
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Customers : |
Indian
Clientele World Bank
Aided/Major Government Projects
Corporate
Hospital
Medical
Colleges
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No. of Employees : |
650 [Approximately] |
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Bankers : |
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Banking
Relations : |
-- |
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Financial Institution : |
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Auditors : |
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Name : |
Kansal Singla and Associates Chartered Accountants |
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Address : |
503-04, Rattan Jyoti, 18, |
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Tel. No.: |
91-11-41538010 |
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Fax No.: |
91-11-41538011 |
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E-mail : |
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Pan No. : |
AAAFK9144R |
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Memberships : |
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Associates/Subsidiaries : |
Line of Business: Cardio Products
Line of Business: IT Solutions
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
20,000,000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
11,408,970 |
Equity Shares |
Rs.10/- each |
Rs.114.090 millions |
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As On 30.09.2010
Authorised Capital : Rs.200.000 millions
Issued, Subscribed & Paid-up Capital : Rs.121.840
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 |
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|
|
|
|
1] Share Capital |
114.090 |
110.306 |
51.756 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
119.899 |
54.933 |
35.813 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
233.989 |
165.239 |
87.569 |
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|
LOAN FUNDS |
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|
1] Secured Loans |
75.456 |
60.408 |
32.067 |
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2] Unsecured Loans |
4.965 |
26.743 |
68.974 |
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TOTAL BORROWING |
80.421 |
87.151 |
101.041 |
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DEFERRED TAX LIABILITIES |
6.758 |
5.532 |
4.145 |
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TOTAL |
321.168 |
257.922 |
192.755 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
78.378 |
68.596 |
58.097 |
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Capital work-in-progress |
2.312 |
4.553 |
1.553 |
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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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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
57.093
|
72.264
|
60.911
|
|
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Sundry Debtors |
254.270
|
186.060
|
133.303
|
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Cash & Bank Balances |
73.440
|
20.549
|
18.984
|
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Other Current Assets |
1.408
|
0.749
|
0.707
|
|
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Loans & Advances |
70.726
|
42.977
|
29.868
|
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Total
Current Assets |
456.937
|
322.599
|
243.773 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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|
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Sundry Creditors |
83.900
|
62.601
|
62.232
|
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Current Liabilities |
115.259
|
66.359
|
43.410
|
|
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Provisions |
17.300
|
8.866
|
5.026
|
|
Total
Current Liabilities |
216.459
|
137.826
|
110.668 |
|
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Net Current Assets |
240.478
|
184.773
|
133.105
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
TOTAL |
321.168 |
257.922 |
192.755 |
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PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
902.759 |
661.113 |
501.125 |
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Other Income |
35.562 |
23.766 |
20.807 |
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Closing Stocks |
14.761 |
19.851 |
18.721 |
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Total Income |
953.082 |
704.730 |
540.653 |
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Less |
EXPENSES |
|
|
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|
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|
Opening Stocks |
19.850 |
18.720 |
28.862 |
|
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|
Material Consumed |
605.359 |
465.634 |
348.742 |
|
|
|
Manufacturing Expenses |
22.127 |
13.974 |
11.319 |
|
|
|
Personnel Expenses |
98.265 |
76.940 |
54.391 |
|
|
|
Administrative Expenses |
52.118 |
42.914 |
38.276 |
|
|
|
Selling and Distribution |
54.526 |
41.706 |
31.673 |
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|
|
Loss on sale of Capital Asset |
0.052 |
0.087 |
0.096 |
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|
|
TOTAL (B) |
852.297 |
659.975 |
513.359 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
100.785 |
44.755 |
27.294 |
|
|
|
|
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|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
11.077 |
9.485 |
8.444 |
|
|
|
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|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
89.708 |
35.270 |
18.850 |
|
|
|
|
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|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.202 |
5.849 |
3.889 |
|
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
82.506 |
29.421 |
14.961 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
18.526 |
10.253 |
6.486 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-I) (J) |
63.980 |
19.168 |
8.475 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
EXPENSES |
0.039 |
0.045 |
0.061 |
|
|
|
|
|
|
|
|
|
Less |
EARLIER YEARS
TAXES PAID |
0.007 |
0.054 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS PROVISION
W/OFF |
0.148 |
0.052 |
0.227 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
54.631 |
35.510 |
26.869 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
118.713 |
54.631 |
35.510 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
96.123 |
115.204 |
67.389 |
|
|
TOTAL EARNINGS |
|
115.204 |
67.389 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
203.327 |
225.008 |
169.331 |
|
|
TOTAL IMPORTS |
203.327 |
225.008 |
169.331 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.68 |
36.73 |
16.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.71
|
2.72
|
1.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.14
|
4.45
|
2.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.41
|
7.52
|
4.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.18
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.27
|
1.36
|
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.11
|
2.34
|
2.20 |
LOCAL AGENCY FURTHER INFORMATION
Notes: - The Registered
office of the company has been shifted from SCO 71, Sector 20 C, UT,
Financial Results : The
company has registered an impressive growth during the financial year 2009-10.
The turnover of the Company has increased from Rs. 661.113 millions during the
immediately preceding financial year 2008-09 to Rs. 902.758 millions during the
financial year 2009-10 thus showing an increase of 36.6 % .The Company has been
consistently working on cost reduction, revenue maximization and productivity
improvement through systematic application of new technology.
Contingent Liabilities:
(A)Liability
in respect of Sates Tax and Income tax has been accounted for on the basis of
respective returns filed with the relevant authorities. Additional demand, if
any, arising at the time of assessment is accounted for in the year in which
the assessment is completed.
a) The
assessment of Sales Tax has been completed up to financial year 2005-06
b) The assessment
of Income Tax has been completed up to assessment year 2007-08.
Bankers Charges
Report as per Registry
|
Name of the company |
ALLENGERS
MEDICAL SYSTEMS LIMITED |
|
Presented By |
Mr. Suresh Sharma, M. D |
|
1) Date and description of instrument creating the change |
23.08.1994,
Hypothecation of stocks (Regd. on 09.11.1994) modified on 02.11.1996 (Regd. on
02.12.1996) modified on 15.09.2000 (Regd. on
22.09.2000) modified on 05.04.2002 (Regd. on
29.04.2002) modified on 12.03.2003 (Regd. on
27.03.2003) modified on 16.09.2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.400 million
enhanced to Rs. 0.700 millions, further enhanced to Rs. 2.500 millions, further
enhanced to Rs. 5.000 millions enhanced to Rs. 6.250 millions, reduced to Rs.
5.000 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 |
Stocks of ultra
sound scanner, arm x ray machine, image intensifier, monitor accessories,
medical equipment and any other stock acceptable to the bank and land
measuring 2 K and 5 M at village bhankarpur tehsil rajpura district patiala |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
– 21.75% p.a Repayable on
demand. |
|
5) Name and Address and description of the person entitled to the charge. |
Chief Manager,
Punjab National Bank, Sector -28, |
|
6) Date and brief description of instrument modifying the charge |
Agreement of
hypothecation of goods and book debts, agreement of hypothecation of moveable
machinery dated 16.09.2003 |
|
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. |
Limit enhanced to
Rs. 7.000 millions from Rs. 5.000 millions. rate of interest 12% p.a shall be
calculated on the daily balance with quarter rests. CC stocks book debts
shall be availed within CC limit of Rs. 14.500 millions Additional
security by way of hypothecation of movable assets. Other terms and
conditions remain the same |
|
Corporate
identity number of the company |
U33111DL1992PLC154688 |
|
Name of the
company |
ALLENGERS MEDICAL SYSTEMS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No. 202, Ansal’s |
|
This form is for |
Modification of
charge |
|
Charge identification (ID) number of the charge to be modified |
10259614 |
|
Type of charge |
|
|
Particular of
charge holder |
Citi Bank, Citi
Markets and Banking, Ground Floor, |
|
Nature of
instrument creating charge |
Letter from Bank
ceding pari-passu charge. |
|
Date of
instrument Creating the charge |
21.04.2011 |
|
Amount secured by
the charge |
Rs. 70.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest:
as decided from time to time and mutually agreed upon. Terms of repayment:
Repayable on demand - Repayable on demand, annually renewable. Margin: 21% against the
said plant and machinery. 30% against the
said stocks. 30% against the
said book debts. Extent operation
of the charge: First pari-passu charge by hypothecation of all the borrower's
movable assets (including stocks and book debts) forming part of its current
assets and all the borrowers movable assets (including plant and machinery)
forming part of its fixed assets both present and future and property situated
at 474/679,166/205, Khasra no: 80/12/2, 80/19/2, 80/19/3, 80/19/4, 80/19/5,
Factory land and building located at Bhankarpur, Derabassi, Mohali. Others : The
charge mentioned in clause no13(d) is secure by way of pari-passu charge in
favour of Citibank N.A Ludhiana for the repayment of all monies in respect of
the credit facility, including outstanding balance and also all interest,
costs, charges and expenses. |
|
Short particulars of the property or asset(s) charged (including complete
address and location of the property |
Hypothecation of
all the borrower's movable assets (including stocks and book debts) forming
part of its current assets and all the
movable assets (including P and M) forming part of its fixed assets
both P and F. Property situated
at 474/679,166/205, Khasra no: 80/12/2, 80/19/2, 80/19/3, 80/19/4, 80/19/5,
Factory land and building located at Bhankarpur, Derabassi, Mohali. |
|
Particulars of
the present modification |
By this modification
the limit is reduced from Rs. 80.000 millions to 70.000 millions and the
charge is secured by first pari-passu charge by hypothecation of all the
borrower's movable assets (including stocks and book debts) forming part of
its current assets and all the movable assets (including P and M) forming
part of its fixed assets both P and F and property situated at
474/679,166/205, Khasra no: 80/12/2, 80/19/2, 80/19/3, 80/19/4, 80/19/5,
Factory land and building located at Bhankarpur, Derabassi, Mohali. |
TRADE REFERENCES:
- KEM – Mumbai
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Computer
- Air
Conditioner
- Electric
Equipment
- Electric
Fittings
- Epbax
- Water Cooler
- Vehicles
- D G
Set
- Office
Equipment
- Tube Well
- Air Pollution
Control Equipment
- Weighing
Scales
WEBSITE DETAILS:
COMPANY OVERVIEW
Subject is a well
known name in the Indian as well as Global medical industry. They are credited
for providing cutting-edge technologies to aid in the early detection,
diagnosis and prevention of diseases. They are an ISO certified organization,
which offers breakthrough technologies that help the caregivers around the
world to assess, diagnose, and treat patients - more efficiently and effectively.
They have modern testing facilities with an in house R and D and QC setup and
hence there final products that have undergone rigorous tests are in compliance
with standards as defined by CE / BIS / AERB.
AWARDS AND
ACHIEVEMENTS
Subject has been recognized by many prestigious
organizations for its quality service, dedication and innovation. Some of the
most distinguished honors and awards include:
"Century International Quality Era
Award" in the realm of Customer Satisfaction, Leadership, Strategic
Planning and Benchmarking, as established in QC 100 TQM system in the Gold
Category at Geneva, Switzerland on 23.04.2007.
"Rashtriya Udyog Ratan"
Award was conferred in recognition of Sterling Merit, Excellent Performance and
Outstanding contribution for the progress of the Nation on 13.04.2008 at
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.44.41 |
|
|
1 |
Rs.70.95 |
|
Euro |
1 |
Rs.63.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.