1. Summary Information
|
|
|
Country |
|
|
Company Name |
CELON LABORATORIES LIMITED |
Principal Name 1 |
Mr. Sama Ramchandra Reddy |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Vimal Kumar Kavuru |
|
|
|
Registration # |
01-036097 |
|
Street Address |
Plot No.2, Aleap Industrial Estate, Gajularamaram, |
||
|
Established Date |
23.01.2001 |
SIC Code |
-- |
|
Telephone# |
91-40-23893683 / 23386041 |
Business Style 1 |
Development |
|
Fax # |
91-40-23893693 |
Business Style 2 |
Marketing |
|
Homepage |
Product Name 1 |
Injectable Pharmaceutical Products |
|
|
# of employees |
30 [Approximately] |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 65,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or Relatives of directors – 100% |
Banking |
State Bank of ICICI Bank Limited |
|
Public Limited Corp. |
---- |
Business Period |
10 years |
|
IPO |
---- |
International Ins. |
-- |
|
Public |
---- |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation - Subsidiaries |
Country |
Company
Name |
CEO |
|
Sister
Concern |
|
Balsri Labs Private limited |
-- |
|
Note |
--- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
185,653,000 |
Current Liabilities |
93,957,000 |
|
Inventories |
144,499,000 |
Long-term Liabilities |
172,360,000 |
|
Fixed Assets |
140,660,000 |
Other Liabilities |
76,561,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
342,878,000 |
|
Invest& other Assets |
38,583,000 |
Retained Earnings |
101,517,000 |
|
|
|
Net Worth |
166,517,000 |
|
Total Assets |
509,395,000 |
Total Liab. & Equity |
509,395,000 |
|
Total Assets (Previous Year) |
231,441,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
519,261,000 |
Net Profit |
84,739,000 |
|
Sales(Previous yr) |
155,977,000 |
Net Profit(Prev.yr) |
14,638,000 |
MIRA
INFORM REPORT
|
Report Date : |
14.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
CELON LABORATORIES LIMITED |
|
|
|
|
Formerly Known As : |
MEDVIN LABS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No.2, Aleap Industrial Estate, Gajularamaram, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
23.01.2001 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.65.000
millions |
|
|
|
|
Com. Reg. No.: |
01-036097 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24232AP2001PLC036097 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDG01843C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCG1654P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Development and Marketing of Injectable Pharmaceutical
Products |
|
|
|
|
No. of Employees
: |
30 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 660000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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) |
|
|
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 /Factory : |
Plot No.2, Aleap Industrial Estate, Gajularamaram, |
|
Tel. No.: |
91-40-23893683 / 23386041 |
|
Fax No.: |
91-40-23893693 |
|
E-Mail : |
celonlife@gmail.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot No. 16, Achutha Co-op-Housing, Society, Road No. 10, Banjara
Hills, Hyderabad-500034, |
|
Tel. No.: |
91-40-2338 6040 / 4030 3838 |
|
Fax No.: |
91-40-2338 6041 / 4030 3939 |
|
E-Mail : |
asia@celonlabs.com (Asia
Pacific) latam@celonlabs.com ( africa@celonlabs.com ( cis@celonlabs.com (CIS) crm@celonlabs.com (Contract Research
Manufacturing) india@celonlabs.com |
|
|
|
|
Sales Office : |
405, Monte Rossa, 90 feet Road, Opposite
Ganesh Temple, Pant Nagar, Ghatkopar [East], Mumbai - 400075 |
DIRECTORS
As on 30.06.2010
|
Name : |
Mr. Sama Ramchandra Reddy |
|
Designation : |
Director |
|
Address : |
H No.1-10-48/A/508, Ashoka Ornata Apts., ST No.1, Ashok Nagar,
Hyderabad – 500020, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.04.1951 |
|
Date of Appointment : |
01.12.2007 |
|
DIN : |
00066669 |
|
|
|
|
Name : |
Mr. Vimal Kumar Kavuru |
|
Designation : |
Director |
|
Address : |
263-16, |
|
Date of Birth/Age : |
08.10.1968 |
|
Date of Appointment : |
01.12.2007 |
|
DIN : |
00502935 |
|
|
|
|
Name : |
Mr. Redreddy Vinodini |
|
Designation : |
Director |
|
Address : |
1-10-48/A/207, Ashok Nagar, |
|
Date of Birth/Age : |
08.11.1950 |
|
Date of Appointment : |
09.10.2007 |
|
DIN : |
01881402 |
|
|
|
|
Name : |
Mr. Venkata Ravindra Koganti |
|
Designation : |
Managing Director |
|
Address : |
Plot No.57, Flat NO.102, Shalivahana Nagar, |
|
Date of Birth/Age : |
20.08.1968 |
|
Date of Appointment : |
29.03.2007 |
|
DIN : |
00016266 |
|
|
|
|
Name : |
Mrs. Koganti Geetha Sree |
|
Designation : |
Director |
|
Address : |
H.No. 8-3-988/25/26/27, Flat No.204, |
|
Date of Birth/Age : |
05.06.1974 |
|
Date of Appointment : |
29.03.2007 |
|
DIN : |
01771526 |
|
|
|
|
Name : |
Mr. Bhardwaj Thiruvenkata Venkatavaraghavan |
|
Designation : |
Additional Director |
|
Address : |
702, 7th Orchid Tower – A, 241 / 242, Bellasis Road, Mumbai
Central – 400008, Maharashtra, India |
|
Date of Birth/Age : |
26.06.1978 |
|
Date of Appointment : |
15.02.2011 |
|
DIN : |
02918495 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2010
|
Names of Shareholders |
No. of Shares |
|
K Geetha Sree |
650000 |
|
K V Ravindra |
1300000 |
|
Sama Ramachandra Reddy |
910000 |
|
K Vimal Kumar |
858000 |
|
Kavuru Sudha |
650000 |
|
Vasireddy Vijaykumar |
832000 |
|
Vasireddy Hema Latha |
650000 |
|
Sama Yashodha |
650000 |
|
Total |
6500000 |
After 30.06.2010
|
Names of
Allottees |
No.
of Shares Allotted |
|
As on 11.10.2010 |
|
|
Sequoia Capital |
49999250 |
|
Sequoia Capital |
100 |
|
|
|
|
As on 15.02.2011 |
|
|
Venkata Ravindra Koganti [Equity Shares] |
1144333 |
SHAREHOLDING PATTERN
As on 30.06.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Development and Marketing of Injectable Pharmaceutical
Products |
|
|
|
|
Products : |
|
|
|
|
|
Brand Name : |
PRODUCTION STATUS
(As on : 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Capsules |
Millions |
21.60 |
21.60 |
21.60 |
|
Tablets |
Millions |
72.00 |
72.00 |
72.00 |
|
Injections |
Millions |
3.60 |
3.16 |
3.16 |
GENERAL INFORMATION
|
Customers : |
· Deeraz Engineers · Seva Elevators · Shereen Agencies · Sri Sai Electronics and Controls · Eudora Enterprises |
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No. of Employees : |
30 [Approximately] |
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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 : |
P Murali Mohana Rao |
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Address : |
6-3-655/2/3, Somajiguda, |
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Tel. No.: |
91-40-23326666 / 23312554 / 23393967 / 23321470 |
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Fax No.: |
91-40-23392474 |
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Email: |
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Web Site: |
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Sister Concern : |
· Balasri Labs Private limited · Celon Life Sciences Limited · Intech Prints Private Limited · DNA Biotech Limited |
||||||||||||||||||||||||||||||||||||||||||
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,500,000 |
Equity Shares |
Rs.10/- each |
Rs.65.000
millions |
|
|
|
|
|
After 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 900.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
68,308,683 |
Equity Shares |
Rs.10/- each |
Rs.683.087
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 |
65.000 |
43.321 |
7.100 |
|
|
2] Share Application Money |
0.000 |
4.550 |
34.721 |
|
|
3] Reserves & Surplus |
101.517 |
16.778 |
2.139 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
166.517 |
64.649 |
43.960 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
149.837 |
88.365 |
46.888 |
|
|
2] Unsecured Loans |
22.523 |
5.508 |
0.000 |
|
|
TOTAL BORROWING |
172.360 |
93.873 |
46.888 |
|
|
DEFERRED TAX LIABILITIES |
23.417 |
3.869 |
0.538 |
|
|
CREDITOR of CAPITAL GOODS |
24.286 |
17.092 |
12.213 |
|
|
|
|
|
|
|
|
TOTAL |
386.580 |
179.483 |
103.599 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
140.660 |
119.217 |
18.119 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
47.538 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.280 |
0.380 |
0.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
144.499
|
42.009
|
2.444
|
|
|
Sundry Debtors |
165.380
|
53.195
|
32.816
|
|
|
Cash & Bank Balances |
7.630
|
7.905
|
1.558
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
12.643
|
5.758
|
14.042
|
|
Total
Current Assets |
330.152
|
108.867
|
50.860
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3.405
|
3.209
|
12.064
|
|
|
Sundry Creditors |
90.552
|
42.769
|
0.453
|
|
|
Provisions |
28.858
|
5.980
|
0.566
|
|
Total
Current Liabilities |
122.815
|
51.958
|
13.083
|
|
|
Net Current Assets |
207.337
|
56.909
|
37.777
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
37.303 |
2.977 |
0.065 |
|
|
|
|
|
|
|
|
TOTAL |
386.580 |
179.483 |
103.599 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
519.261 |
155.977 |
37.215 |
|
|
|
Other Income |
23.270 |
1.128 |
0.018 |
|
|
|
TOTAL (A) |
542.531 |
157.105 |
37.233 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
375.293 |
89.932 |
17.744 |
|
|
|
Increase/(Decrease) in Finished Goods |
[95.707] |
(23.807) |
2.367 |
|
|
|
Manufacturing Expenses |
58.034 |
24.013 |
5.090 |
|
|
|
Administrative, selling and Distribution Expenses |
36.221 |
28.094 |
6.338 |
|
|
|
Research and Development Expenditure |
6.624 |
4.850 |
0.000 |
|
|
|
Amortization Expenses Written off |
9.509 |
0.744 |
0.013 |
|
|
|
TOTAL (B) |
389.974 |
123.826 |
31.552 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
152.557 |
33.279 |
5.681 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.377 |
9.010 |
2.099 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
133.180 |
24.269 |
3.582 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.547 |
3.599 |
0.377 |
|
|
|
|
|
|
|
|
|
|
Prior period
expenditure |
0.000 |
0.038 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
125.633 |
20.632 |
3.205 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
40.894 |
5.994 |
1.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
84.739 |
14.638 |
2.066 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.777 |
2.139 |
0.073 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
101.516 |
16.777 |
2.139 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Foreign Exchange Inflow - Sales |
20.457 |
0.387 |
NA |
|
|
|
Foreign Exchange Earnings – Export Sales |
27.406 |
3.407 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.94 |
3.38 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
15.32
|
9.32
|
5.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.19
|
13.23
|
8.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.68
|
9.04
|
4.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.75
|
0.32
|
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.77
|
2.26
|
1.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.69
|
2.09
|
3.89 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
During the year, the Company has achieved a turnover of
Rs.638.238 millions during the year as against Rs.180.912 millions during the last
year. During the year, the Company registered Profit After Tax of Rs. 84.739
millions as against of Rs.14.638 millions during the last year.
The Company has also earned other income of Rs. 23.270
millionss during the year (previous year was Rs. 1.128 millions)
PERFORMANCE
The company performance was good during the year. The Company
could achieve decent profitability on account of fruitful efforts of the entire
team consisting of the directors, employees across all levels and the support
extended by customers.
FUTURE
OUTLOOK
The Company aspires to establish a good platform in Global
Markets. In view of that, the Company established sales and distribution
networks in Asia, Africa,
The company is also expanding its domestic operations in new
specialty and super-specialty segments with product lines in Infertility,
Gynecology, Urology and Nephrology.
SHARE
CAPITAL
During the year the Company has increased the Authorized
Equity share capital from 45.000 millions to Rs.100.000 millions divided into
1,00,00,000 equity Shares of Rs.10 /-each.
The Company is having paid up Equity Share Capital of
Rs.43.321 millions as on 01.04.2009. During the year the Company has allotted
21,67,877 equity shares of Rs.10/-- each to the existing Share Holders.
change of address:
The Registered Office of the company has been shifted from Flat No.102
Lakshmi Residency, Shalivahana Nagar, Srinagar Colony,
CONTINGENT
LIABILITIES :
|
Contingent
Liabilities (Rs. In Millions) |
31.03.2010 |
31.03.2009 |
|
Guarantees Issued by Bank |
25.700 |
8.275 |
|
Letter of Credit |
5.280 |
1.673 |
|
Total |
30.980 |
9.948 |
Form 8:-
|
Corporate
identity number of the company |
U24232AP2001PLC036097 |
|
Name of the
company |
CELON
LABORATORIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.2, Aleap Industrial Estate, Near Pragati Nagar, Gajularamaram,
|
|
This form is for |
Creation of
Charge |
|
Type of charge |
· Immovable Property · Book Debts · Movable Property · Others (Stocks and Receivables) |
|
Particular of
charge holder |
ICICI Bank Limited, |
|
Nature of
instrument creating charge |
Deed of Hypothecation dated 22-04-2011 and Memorandum of Entry dated 22-04-2011 |
|
Date of
instrument Creating the charge |
22.04.2011 |
|
Amount secured by
the charge |
Rs. 300.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
interest: CC : IBASE+3.25%(Presently
12.5% p.a),LC: cash margin - 10%and commission 1.5%pa, BG : Commission 0.45%
pa +Handling charges of 1.05% pa and Counter BG : commission- 1.5% pa. Terms of Repayment: Validity of the facility :12 months, 28th March 2012 and counter bank guarantee is one time counter guarantee Margin: * CC : uniform margin of 25% against on all components of inventory, 25% on Book debts with cover period of 90 days, · LC : cash margin 10% pa · BG : Guarantees covering disputed liabilities 100% · Financial guarantees 10.0% · Performance guarantees 10.0% · counter bank guarantee: Cash margin in respect of non-fund based facilities to be taken · over from the existing bankers shall be transferred to ICICI Bank · within 30 days from the date of the issuance of the Onetime · Counter guarantee. Extent and operation of the Charge: Exclusive charge in favor of the bank by way of hypothecation on entire current assets of the company i.e., stocks of raw materials, semifinished and finished goods, consumable stores and spares and such other movables including bookdebts, bills whether documentary or clean, outstanding monies, receivables, both present and future, in a form and manner satisfactory to the bank. Exclusive charge on the unencumbered fixed assets of the company both present and future |
|
Short particulars
of the property charged (Including location of the property) |
Exclusive charge
in favor of the bank by way of hypothecation on entire current assets of the
company both present and future Exclusive charge on the unencumbered fixed
assets of the company both present and future Equitable mortgage on entire
land and building located at Plot No:2 in ALEAP Industrial Area, Survey No:
342, Gajula Ramaram Village, RR District. Equitable mortgage on entire land
and building located at Turakapally project. |
Fixed Assets:-
· Land
· Building
· Leasehold Improvements
· Plant and Machinery
· Quality Control Equipments
· Air Conditioner
· Furniture and Fixtures
· Office Equipments
· Vehicles
· Electronic Data Processing Equipment
Website Details
Profile:
Subject is a fully
integrated Pharmaceutical company a leader in development and marketing of
specialty injectable products. Using in-house Research and Development
capabilities, together with operational flexibility manufacturing and
regulatory expertise, Company is able to take a wide variety of products from
laboratory to the market.
Research and Development
Company state-of-the-art research centre is constantly
focused on development of new molecules through non-infringing processes and
development of innovative drug delivery systems.
Technology platforms
- Synthetic
chemistry
- Formulation
development for high potent drugs
- Lipid/Liposomal
drug delivery
Manufacturing Facilities
The company manufacturing facilities are located at
The company manufacturing facilities consists of the following:
·
Cytotoxic solid orals dosage facility for
manufacture of un-coated tablets, coated tablets and capsules
·
Cytotoxic injection facility for manufacture of
ampoules, vials and pre-filled syringes. The vial lines have the option of
online Lyophilization.
·
General injections facility for manufacture of
ampoules, vials and pre-filled syringes. The vial lines have the option of
online Lyophilization.
·
Lipid injections facility provided with high
pressure homogenizer for manufacture of emulsion injections, nono-particles
injections, Liposomal products with ampoules, vials and pre-filled syringes.
The vial lines have the option of online Lyophilization.
·
API facility: Multi-product facility designed to
meet latest cGMP norms using modern isolator technologies combine with
containment strategies to assure the quality and safety.
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.44.87 |
|
|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.64.37 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
no |
|
--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.