1. Summary Information
|
|
|
Country |
|
|
Company Name |
Lok Prakashan Limited |
Principal Name 1 |
Mr. Bahubali Shantilal Shah |
|
Status |
Good |
Principal Name 2 |
Mrs. Smrutiben Shreyans Shah |
|
|
|
Registration # |
04-151 |
|
Street Address |
Gujarat Samachar Bhavan, Khanpur, Ahmedabad – 380001, |
||
|
Established Date |
21.09.1940 |
SIC Code |
-- |
|
Telephone# |
91-79-22304040/ 10/ 25508001/ 2/ 3 |
Business Style 1 |
Printing |
|
Fax # |
91-79-25502000/ 1216642 |
Business Style 2 |
Publishing |
|
Homepage |
Product Name 1 |
Newspaper Daily |
|
|
# of employees |
600 (Approximately) |
Product Name 2 |
Journal
Periodical |
|
Paid up capital |
Rs.1,594,000/-
|
Product Name 3 |
Leasing |
|
Shareholders |
Bodies Corporate -15.00%,
Directors or relatives of directors 73.00%, Other top fifty Shareholders
5.00%, Other 7.00% |
Banking |
Bank of |
|
Public Limited Corp. |
No |
Business Period |
71 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
A (66) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
Company |
|
Gujarat Samachar INC |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,497,062,000 |
Current Liabilities |
891,702,000 |
|
Inventories |
471,433,000 |
Long-term Liabilities |
0,000,000 |
|
Fixed Assets |
282,466,000 |
Other Liabilities |
1,580,594,000 |
|
Deferred Assets |
25,807,000 |
Total Liabilities |
2,472,296,000 |
|
Invest& other Assets |
4,223,452,000 |
Retained Earnings |
6,026,330 |
|
|
|
Net Worth |
6,027,924,000 |
|
Total Assets |
8,500,220,000 |
Total Liab. & Equity |
8,500,220,000 |
|
Total Assets (Previous Year) |
7,204,794,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
860,570,000 |
Net Profit |
829,559,000 |
|
Sales(Previous yr) |
903,752,000 |
Net Profit(Prev.yr) |
185,915,000 |
MIRA INFORM
REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
LOK PRAKASHAN LIMITED |
|
|
|
|
Registered
Office : |
Gujarat Samachar Bhavan, Khanpur, Ahmedabad – 380001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
21.09.1940 |
|
|
|
|
Com. Reg. No.: |
04-151 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1.594 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22190GJ1940PLC000151 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHML00258G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Engaged in Printing and Publication of Newspaper " |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 24000000 |
|
|
|
|
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. Fundamentals are
strong and healthy. 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 : |
Gujarat Samachar Bhavan, Khanpur, Ahmedabad – 380001, |
|
Tel. No.: |
91-79-22304040/ 10/ 25508001/ 2/ 3 |
|
Fax No.: |
91-79-25502000/ 1216642 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
80,000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Printing Press : |
The Printing Presses are Located At Khanpur – Ahmedabad,
Ring Road – |
|
Area : |
15,000 sq. ft |
|
|
|
|
Branches : |
Located at – ·
·
·
·
Mumbai |
DIRECTORS
(AS ON 30.09.2009)
|
Name
: |
Mr. Bahubali Shantilal Shah |
|
Designation
: |
Managing Director |
|
Address
: |
Gujarat Samachar Bhavan, Khanpur, Ahmedabad-380001, |
|
Date
of Birth/Age : |
09.09.1951 |
|
Qualification
: |
B. Com |
|
Experience
: |
34 years |
|
Date
of Appointment : |
01.08.1980 |
|
|
|
|
Name
: |
Mrs. Smrutiben Shreyans Shah |
|
Designation
: |
Managing Director |
|
Address
: |
31 Anand Nagar Society Sarkhej Road, Paldi Ahmedabad -
380007, Gujarat, India |
|
Date
of Birth/Age : |
10.06.1943 |
|
Qualification
: |
B.A. |
|
Experience
: |
42 years |
|
Date
of Appointment : |
31.03.1972 |
|
|
|
|
Name
: |
Mr. Rajiv Chinubhai Lalbhai |
|
Designation
: |
Director |
|
Address
: |
Chinubhai Chimanlala Sheth Bunglow, Near Adeshwar Flat,
Opposite Shahibaug Police Chowky, Shahibaug, Ahmedabad – 380004, Gujarat,
India |
|
Date
of Birth/Age : |
01.11.1952 |
|
Date
of Appointment : |
27.10.2007 |
|
|
|
|
Name
: |
Mr. Pranlalbhai Bhogilalbhai Patel |
|
Designation
: |
Director |
|
Address
: |
122, Sagar Nivas, |
|
Date
of Birth/Age : |
28.11.1937 |
|
Date
of Appointment: |
18.12.1977 |
|
|
|
|
Name
: |
Mr. Mahesh Jayantilal Shah |
|
Designation
: |
Director |
|
Address
: |
1002, Parth 7 Parnakunj, Near |
|
Date
of Birth/Age : |
15.08.1950 |
|
Date
of Appointment : |
27.10.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2009)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Bahubali S Shah |
|
2734 |
|
Smruti Shreyans Shah |
|
386 |
(AS ON 30.09.2009)
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
15.00 |
|
Directors or relatives of directors |
|
73.00 |
|
Other top fifty shareholders |
|
5.00 |
|
Other |
|
7.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Engaged in Printing
and Publication of Newspaper " |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual Production |
|
|
|
|
|
Printed Dailies |
No. of Copies |
49,93,82,088 |
|
Weeklies etc. |
No. of Copies |
1,36,125 |
|
Purchases of Trading Item Namely |
Quantity Kgs |
2,97,000 |
|
Commodity Jeera |
Rs. |
4,39,50,450 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Bank of Baroda Bhadra Branch, · State Bank of India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sorab S. Engineer and Company Chartered Accountants |
|
Address : |
909, ATMA House, Opposite Reserve Bank of |
|
Tel. No.: |
91-79-26589710/25684304 |
|
Fax No.: |
91-79-26589710 |
|
E mail: |
|
|
Website: |
|
|
|
|
|
Subsidiary Company : |
§
Gujarat Samachar INC |
|
|
|
|
Associates : |
Ř Indian Chronicle
Limited Ř Amrut Investment Ř G.C.C.L Housing
Finance Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.200/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.200/- each |
Rs.2.000 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7969 |
Equity Shares |
Rs.200/- each |
Rs.1.594 Millions |
|
|
|
|
|
NOTE:
Of the above shares, 800 shares are allotted
as fully paid up pursuant to a contract for purchases of assets, without
payment being received in cash.
The face value of the above 7969 shares which was
Rs.100/- has been made of Rs.200/- each by capitalization Rs.0.797 Millions
during 1981-82 vide resolution passed at the extra ordinary General Meeting of
30-08-80 which has been approved by the controller of capital issue, vide
letter Ref. No.R/36/CCI/181/620 dated 18/2/81.
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 |
1.594 |
1.594 |
1.594 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6026.330 |
5230.223 |
5075.075 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6027.924 |
5231.817 |
5076.669 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
35.636 |
37.565 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
35.636 |
37.565 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6027.924 |
5267.453 |
5114.234 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
282.466 |
202.681 |
252.336 |
|
|
Capital work-in-progress |
0.000 |
0.911 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4223.452 |
2789.260 |
2112.890 |
|
|
DEFERREX TAX ASSETS |
25.807 |
25.804 |
22.788 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
471.433
|
407.707
|
241.918
|
|
|
Sundry Debtors |
511.192
|
423.900
|
516.890
|
|
|
Cash & Bank Balances |
1020.819
|
1704.346
|
2224.969
|
|
|
Other Current Assets |
34.077
|
91.869
|
120.209
|
|
|
Loans & Advances |
1930.974
|
1558.316
|
1409.431
|
|
Total
Current Assets |
3968.495
|
4186.138 |
4513.417 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
806.081
|
658.834
|
556.141
|
|
|
Other Current Liabilities |
85.621
|
64.074
|
91.533
|
|
|
Provisions |
1580.594
|
1214.433
|
1139.523
|
|
Total
Current Liabilities |
2472.296
|
1937.341
|
1787.197
|
|
|
Net Current Assets |
1496.199
|
2248.797
|
2726.220
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6027.924 |
5267.453 |
5114.234 |
|
PROFIT & LOSS
ACCOUNT7
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Subscription of Publication |
860.570 |
903.752 |
874.437 |
|
|
|
Income from Advertisement |
2597.508 |
2366.734 |
2621.386 |
|
|
|
Trading Products sales |
22.904 |
0.000 |
0.000 |
|
|
|
Other Income |
364.648 |
339.787 |
529.204 |
|
|
|
TOTAL (A) |
3845.630 |
3610.273 |
4025.027 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Newsprint Consumption |
1533.884 |
2193.849 |
1592.062 |
|
|
|
Employee’s Emoluments |
138.410 |
91.137 |
106.486 |
|
|
|
Trading Products Purchases |
29.340 |
0.000 |
0.000 |
|
|
|
Other Expenses |
913.116 |
1015.970 |
1112.349 |
|
|
|
TOTAL (B) |
2614.750 |
3300.956 |
2810.897 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1230.880 |
309.317 |
1214.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.488 |
1.970 |
2.608 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1230.392 |
307.347 |
1211.522 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
37.333 |
49.508 |
66.290 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1193.059 |
257.839 |
1145.232 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
363.500 |
71.924 |
345.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
829.559 |
185.915 |
799.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
37.058 |
36.910 |
38.454 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
800.000 |
155.000 |
770.000 |
|
|
|
Proposed Dividend |
28.688 |
26.298 |
26.298 |
|
|
|
Tax on Dividend |
4.764 |
4.469 |
4.469 |
|
|
|
Tax on Dividend short provision last year |
0.000 |
0.000 |
0.677 |
|
|
BALANCE CARRIED
TO THE B/S |
33.165 |
37.058 |
36.910 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Newsprint |
986.920 |
1215.665 |
1174.244 |
|
|
|
Stores & Spares |
0.000 |
2.646 |
0.131 |
|
|
TOTAL IMPORTS |
986.920 |
1218.311 |
1174.375 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
104098 |
23330 |
100376 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
21.57
|
5.15
|
19.87
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
138.64
|
28.53
|
130.97
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.07
|
5.87
|
24.03
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.05
|
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41
|
0.38
|
0.36
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
2.16
|
2.53
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The company earned Rs.860.570 Millions sales and subscription of
Publication and Rs.2597.508 Millions from Advertisements.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2010 |
31.03.2009 |
|
|
Rs. In Millions |
|
|
|
|
|
|
Bills Discounted |
0.135 |
5.808 |
|
|
|
|
Bankers Charges
Report as per Registry
|
Name of the company |
LOK PRAKASHAN LIMITED |
|
Presented By |
Mr. Shantilaal A Shah, Managing Director |
|
1) Date and description of instrument creating the change |
Hypothecation of Book Debts dated 27.06.1994 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.25.000 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 |
All book debts of the company both present and future |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest 5% DRR with Minimum of 17% p.a. plus interest Tax Margin: 50% Directors of the company shall executes demand promissory note. |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of |
|
6) Date and brief description of instrument modifying the charge |
01.12.1997. No instrument was executed. A mortgaged by deposit of title deeds was created by the company in favour of IDBI, by deposit of title deeds with IDBI, IDBI acting for interest and as agent of state Bank of India (SBI) and Bank of Baroda (BOB) in respect of all the immovable properties of the company situated at Shahpur Ward (II)l, Taluka City, District. Ahmedabad in the state of Gujarat as security, inter alia, for the due repayment and discharge by the company to BOB with its total Working capital Facilities of Rs.195.000 Millions together with interest, Compound interest, additional interest, liquidated damages, premia on prepayment for on redemption, costs, charges expenses and other monies payable by the company to BOB under the said Agreement. |
|
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 B OB total working capital facilities of Rs.195.000 Millions, together with interest liquidated damages, commitments charges premia on prepayment or on redemption, costs, charges and expenses all other monies payable by the company to BOB which is secured by the said deed of hypothecation dated the 22nd Day of July, 1994 being the original charge, is now also secured by the said joint mortgage by deposit of title deed created by the company on 1st December 1997 in favour of IDBI and others. The IDBI has first charge over the fixed and immovable assets specified in the schedule to the joint equitable mortgage dated 01.12.1997 and State Bank of India and Bank of Baroda have second Charge ranking pari passu interest whereas IDBI has second charge over all the movable assets as mentioned in the deed of hypothecation dated 22.07.1994 |
FIXED ASSETS:
·
Freehold Land
·
Building
·
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NEWS:
LOK
PRAKASHAN SET TO ACQUIRE NEPA
P.
Manoj
FOR the Disinvestment Ministry, a prolonged lean patch
(aided by the controversy surrounding the disinvestment policy) on selling
Government stakes in PSUs is coming to an end. And, the PSU that is helping the
cash-starved Ministry lay hands on a few crores of rupees is a sick company.
Lok Prakashan Limited, publishers of the Gujarati daily Gujarat Samachar, is set to acquire a
controlling stake of 72 per cent in the ailing public sector newsprint-maker
NEPA Limited based in Madhya Pradesh.
Disinvestment Ministry sources said that the price bid
submitted by Lok Prakashan was above the reserve price fixed by the Government.
"The Disinvestment Ministry will seek the approval of
the Cabinet Committee on Disinvestment (CCD) on the bid submitted by Lok
Prakashan Limited. The deal will go through," the sources said. The
inter-ministerial group on disinvestments has already cleared the bid of Lok
Prakashan in NEPA.
Mr. Amam Shah, Vice-President (Operations), Lok Prakashan,
told Business Line that
his company was keen on acquiring NEPA. "We have submitted a bid for NEPA
Limited as this would lead to backward integration with our publishing
business," Mr. Shah said.
The Government currently holds about 98 per cent of the
equity in NEPA while the Madhya Pradesh Government and the public hold the
rest. After privatisation, the Government would be left with a residual stake
of 26 per cent in the company.
The transfer of management control in NEPA to Lok Prakashan
would, however, be subject to approval from the Board of Industrial and
Financial Reconstruction (BIFR) where the PSU was referred to on becoming sick
in 1998. The estimated net worth of NEPA on March 31, 2002 was negative
Rs.380.600 Millions.
The Union Government will shortly submit to BIFR a
comprehensive revival package for NEPA Limited
This involves the induction of a private strategic partner
holding 72 per cent stake and a non-cash-based financial restructuring scheme
supported by conversion of outstanding non-plan assistance of Rs.280.000
Millions and outstanding normal interest of Rs.60.500 Millions on non-plan
assistance into equity, besides waiver of outstanding penal interest of
Rs.16.000 Millions.
With the above concessions/reliefs and after effecting
certain accounting adjustments to be made by NEPA in its books, the status of
the net worth of the company on March 31, 2002 would improve to a positive
Rs.45.300 Millions against the negative Rs.380.600 Millions, Ministry sources
said.
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.45.03 |
|
|
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
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 |
NO |
|
--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 |
|
66 |
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.