MIRA
INFORM REPORT
|
Report Date : |
03.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
KRISHI RASAYAN EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
09.10.1995 |
|
|
|
|
Com. Reg. No.: |
21-074696 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24219WB1995PTC074696 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and Trading in Agrochemicals |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 6100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. Financial positions
of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-33-22875730/2287-5731/2283-9454/2283-9455 |
|
Mobile No.: |
91-9830267589 (Mr. K C Jain) |
|
Fax No.: |
91-33-22871436 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
1115, Hemkunt (Modi) Tower, 98, |
|
Tel. No. : |
91-11-30885555/6/7 |
|
Fax No. : |
91-11-30885559 |
|
|
|
|
Factory 1 : |
1st |
|
Tel. No.: |
91-923-243061/2433661 |
|
Area : |
30000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory 2 : |
Plot # 170, Industrial Estate, Baddi, Himachal Pradesh |
|
Tel. No.: |
91-175-44594 |
|
Area : |
35000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory 3 : |
820/803, The Corporate Centre, Nirmal Lifestyle, L.B.S. Marg. Mulund
(w), Mumbai-400080, |
|
Tel. No.: |
91-22-2592-4782 |
|
Fax No.: |
91-22-2592-4781 |
|
|
|
|
Factory 4 : |
Bela Industrial Estate, M.I.C. Mujaffarpur – 843116, |
|
Tel. No.: |
91-621-2276249 |
|
Fax No.: |
91-621-2274581 |
|
|
|
|
Factory 5 : |
At Maitappuur, P.O. Ranital, District. Balasore, Orissa-756111. |
|
Tel. No.: |
91-6784-265984/094370-602861 |
|
Fax No.: |
91-6784-265995 |
|
|
|
|
Factory 6 : |
Solid Waste Management Projects, Belia Panda, Puri – 752001. |
|
Tel. No.: |
91-6752-231370/093385-445891 |
|
Fax No.: |
91-6752-233988 |
|
|
|
|
Branches : |
Shed # 2-A, Large Industrial Estate, Muzaffarpur, |
|
Tel. No.: |
91-1721-760659/23384 |
|
Fax No.: |
91-6212274581 |
|
Area : |
20000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Branches : |
White House |
|
Tel. No.: |
91-11-23515939 |
|
Fax No.: |
91-11-23519334 |
|
Email: |
|
|
Area : |
20000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Branches : |
Located At: v Delhi v Punjab v Bihar v Haryana v Orissa v Assam v Gujarat v |
DIRECTORS
As On : 11.08.2010
|
Name : |
Mr. Atul Churiwala |
|
Designation : |
Director |
|
Address : |
4, |
|
Date of Birth/Age : |
23.12.1963 |
|
Qualification : |
BSC Agricultural |
|
Experience : |
12 years |
|
Date of Appointment : |
09.10.1995 |
|
Experience : |
8 Years |
|
Din No.: |
00180595 |
|
|
|
|
Name : |
Mr. Bimal Kumar |
|
Designation : |
Director |
|
Address : |
B-24, Kailash Vihar, Baddi, Nalgarh, Himachal Pradesh |
|
Date of Birth/Age : |
17.07.1956 |
|
Qualification : |
B. Com. |
|
Experience : |
12 Years |
|
Date of Appointment : |
06.09.2002 |
|
Din NO.: |
00434470 |
|
|
|
|
Name : |
Mr. Rajesh Agarwal |
|
Designation : |
Director |
|
Address : |
S-171-Greater Kailash II, |
|
Date of Birth/Age : |
28.09.1969 |
|
Qualification : |
BE. , Agricultural |
|
Experience : |
7 Years |
|
Date of Appointment : |
12.08.1997 |
|
Din No.: |
00210719 |
|
|
|
|
Name : |
Mr. Atma Ram Sonthalia |
|
Designation : |
Director |
|
Address : |
DA/73, |
|
Date of Birth/Age : |
23.09.1934 |
|
Date of Appointment : |
06.09.2002 |
|
Din No.: |
00004611 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Atul Churiwal |
|
176000 |
|
Sangita Churiwal |
|
480000 |
|
Lakhpat Rai |
|
150000 |
|
Sushil K Agarwal |
|
292500 |
|
Rajesh K Agarwal |
|
286000 |
|
Savita Devi Agarwal |
|
75000 |
|
K C Jain |
|
4000 |
|
Vandan Churiwal |
|
330000 |
|
Ritu Agarwal |
|
6500 |
|
Total |
|
1800000 |
AS ON 11.08.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading in Agrochemicals |
|
|
|
|
Products : |
Item Code : NA Product Description : Manufacturing and Trading in Agrochemicals |
PRODUCTION STATUS (As On : 31.03.2010)
|
Particulars |
Installed
Capacity |
|
Dust And Granules |
13400MT |
|
Liquide |
9200 KL |
|
|
|
|
Actual
Production |
1,12,11,154
(Ltr./Kg) |
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
v The Hongkong and
Sanghai Banking Corporation Limited, Honkong House, 31, B. B. D Bag, Kolkata-700001,
West Bengal, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institute : |
·
3i Infotech Trusteeship Services Limited, 3rd
to 6th Floor, International Infotech Park, Tower No.5, Vashi
Railway Station Complex, Vashi, Navi Mumbai-400703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Sarawgee And Company Chartered Accountant |
|
Address : |
32A, |
|
|
|
|
Associates : |
v
Agro Life Science Corporation v
820/803, The Corporate Centre, Nirmal
Fifestyles, L B S Marg, Mulund(W), Mumbai-400080, Tel. No. :91-22-2592-4782 Fax No. :91-22-2592-4781 v
Globe Agritech Private Limited v
Krishi Rasayan (Partnership Concern) Solid Waste Management Projects, Belia
Panda, Puri-752001 Tel. No. :91-6752-231370/093385-44589 Fax No. :91-6752-233988 v
Krishi Techno Park v
Primerose Vinimay Private Limited v
Parmanand Chruiwal Smriti Trust v
Rajesh Kumar Agarwal (HUF) v
Sushil Kumar Agarwal (FUF) v
Vandan Hydrochem Private Limited v
Wegmans Constructions Private Limited v
P. R. Churiwal Lok Kalyan Trust v
Krishi Biotech Research Private Limited v
Truly Pest Solution Private Limited |
|
|
|
|
Subsidiaries : |
Ř Krishi Biotech
Research Private Limited CIN No : U74999WB2007PTC116917 Ř Truly Pest
Solution Private Limited CIN No : U51109WB2009PTC135610 |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs. 10/- each |
Rs. 18.000
millions |
|
|
|
|
|
Note :
Includes Issued
for consideration other than cash
(Fully Paid-up1
1,00,000 Equity Shares by way of Bonus Shares by Capitalization of General Reserve)
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 |
18.000 |
18.000 |
18.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1523.245 |
1224.784 |
892.813 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.391) |
|
|
NETWORTH |
1541.245 |
1242.784 |
910.422 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
657.395 |
445.825 |
312.437 |
|
|
2] Unsecured Loans |
0.442 |
0.442 |
0.442 |
|
|
TOTAL BORROWING |
657.837 |
446.267 |
312.879 |
|
|
DEFERRED TAX LIABILITIES |
6.902 |
2.889 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2205.984 |
1691.940 |
1223.301 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
164.390 |
128.984 |
109.372 |
|
|
Capital work-in-progress |
24.253 |
18.687 |
14.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
39.299 |
6.239 |
6.193 |
|
|
DEFERREX TAX ASSETS |
0.000 |
00.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
731.598 |
582.056
|
444.277
|
|
|
Sundry Debtors |
1195.767 |
746.649
|
635.655
|
|
|
Cash & Bank Balances |
115.860 |
156.674
|
105.055
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
502.302
|
503.034
|
338.331
|
|
Total
Current Assets |
2545.527
|
1988.413 |
1523.318 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
472.288
|
350.279 |
359.618 |
|
|
Other Current Liabilities |
68.187
|
69.243
|
48.856
|
|
|
Provisions |
27.010
|
30.861
|
21.208
|
|
Total
Current Liabilities |
567.485
|
450.383 |
429.682 |
|
|
Net Current Assets |
1978.042
|
1538.030
|
1093.636
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2205.984 |
1691.940 |
1223.301 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
3605.038 |
3065.815 |
2064.989 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
3191.787 |
2711.208 |
1742.448 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3191.787 |
2711.208 |
1742.448 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
413.251 |
354.607 |
322.541 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
102.354 |
10.874 |
(0.298) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
310.897 |
343.733 |
322.839 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1018.090 |
726.993 |
455.737 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
40.000 |
40.000 |
40.000 |
|
|
|
Dividend |
12.594 |
12.635 |
11.582 |
|
|
BALANCE CARRIED
TO THE B/S |
1276.393 |
1018.090 |
726.993 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
107.306 |
47.241 |
30.299 |
|
|
TOTAL EARNINGS |
107.306 |
47.241 |
30.299 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1238.224 |
895.472 |
458.436 |
|
|
TOTAL IMPORTS |
1238.224 |
895.472 |
458.436 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
172.72 |
190.96 |
179.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
8.62
|
12.06
|
15.63
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.25
|
16.74
|
19.75
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.28
|
0.35
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80
|
0.72
|
0.81
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.49
|
4.41
|
3.54
|
LOCAL AGENCY FURTHER INFORMATION
Performance Of The
Company
The Company’s overall performance was
excellent during the year 2009-10. The total turnover has reached Rs. 3605.037
millions as compared to Rs. 3065.815 millions in the previous year, thus making
a growth of over 15%. The Net Profit before Tax increased by 16.53% from Rs.
354.607 millions to Rs. 413.251 millions. The Directors of the company are
expecting better performance in the coming year.
EXPANSION AND
MODERNISATION
The construction
of GLP Laboratory at Kalyani, District - Nadia, West Bengal (through its
subsidiary Krish Biotech
Research Private
Limited) for Research & Development work 1s completed. I t has started
commercial activity from 1st April '10. The total Capital Outlay is Rs. 60.00 millions. Further expansion at a cost of Rs. 50.000 millions is planned.
The Company plans
to construct a Greenfield Technical Plant at Panoli, Gujarat, for which 10
Acres land has already been acquired. The clearance from Gujarat State
Pollution Control is awaited and other clearances as required are also awaited.
We hope to start Construction on receipt of the required clearances. The total
Outlay is estimated at Rs. 180.000 millions.
The Company 1st
running a full fledged pest control business thru its subsidiary 'Truly Pest
Solution Private Limited' under a Exclusive Franchisee Agreement with MIS.
Truly Nolen, USA which is a leading Pest Control Company of USA having
operation in 60 Countries. 20 branches have opened all over India to provide
pest control services In various sectors like Industry, Commercial,
Residential, IT, Infrastructure, etc. The company is one of the accredited
licensing authority under the Directorate of Plant Protection, Quarantine and
Storage, Faridabad under the Ministry of Agriculture, God. of India, for
providing fumigation services to Export / Import houses and issue certificate
required for clearing of goods from customs.
The Capita
Expenditures for all the above Project are being met from Internal Accruals.
FORM 8
|
Corporate
identity number of the company |
U24219WB1995PTC074696 |
|
Name of the
company |
KRISHI
RASAYAN EXPORTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
FMC Fortuna Building, 4th Floor, Room No. A-11, 234/3A, A J
C Bose Road, Kolkata-700020, West Bengal, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
The Hongkong and Sanghai Banking Corporation Limited, Honkong House,
31, B. B. D Bag, Kolkata-700001, West Bengal, India |
|
Nature of
instrument creating charge |
By this
Memorandum of Entry (MOE) dated 6Jan2011 by deposit of Title Deed(s) by the
Company in respect of its immovable property situated at Baddi-HP,
Hemkunt-NDH, Lal Bunglow - Lucknow, Muzzarffarpur - Bihara etc, with ICICI
Bank, New Delhi acting for itself and as agent of HSBC by way of constructive
delivery to secure the working capital facilities as sanctioned by HSBC to
the tune of Rs.180.000 millions by way of pari passu 1st charge with other
member banks. |
|
Date of
instrument Creating the charge |
06.01.2011 |
|
Amount secured by
the charge |
Rs.180.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As agreed rate. Terms of
repayment Payable on demand Margin The Company
shall maintain such margin as may be specified by the Bank from time to time.
In case the Company fails to fulfill its obligation under the agreement, the
Bank shall be entitled to take possession of the assets and sell them by
public auction or private contract and utilize the proceeds in full or part
settlement of its claims Extent and
operation of the charge The
Company mortgage its entire immovable properties both present and future
together all buildings, structures, plant and machinery pertaining to the
various Properties in favour of the Bank as and by way of first pari passu
charge to secure the working capital facilities up to the aggregate limit of
Rs.180.000 millions together with interest costs, charges and expenses. |
|
Short particulars
of the property charged (Including location of the property) |
Industrial
Area -Baddi - Himachal Pradesh, Hemkunt Tower- New Delhi, Lal
Bunglow-Hyderabad, Station Road- Hyderabad, Muzzarffarpu |
|
Charge
identification number of the charge to be modified |
10163872 |
|
Particulars of
the present modification |
No
Instrument was executed but on 06Jan2011 a mortgage was created with ICICI
Bank Ltd,10th Floor, Videocon Towers, Jhandewalan Extension, New
Delhi-110055, acting for itself and as agent of HSBC by way of deposit of
title deeds by way of constructive delivery in respect of their immovable
properties situated at various properties (as per MOE dated 6Jan11) to secure
the working facilities as sanctioned by HSBC to the tune of Rs.180.000
millions by way of pari passu first charge with other member banks. |
FIXED ASSETS :
v
Land
v
Building
v
v
Plant and Machinery
v
Furniture and Fixture
v
Computer
v
Vehicles
v
Electric Installation
WEB SIDE DETAILS
Pest Control Division
- Truly Company Profile
Subject under the banner of Truly Pest Solution Private Limited
has started one of the most effective and environment friendly pest control
division in collaboration with TRULY
NOLEN INTERNATIONAL, USA.
The group has an exclusive technical
tie up for India with TRULY NOLEN INTERNATIONAL, USA and is planning to launch
the service in all parts of the country.
Recently, The services have been launched in Kolkata and Delhi. The company
wants to revolutionize the way pest control service is done in India through
use of innovative and modern technologies instead of the old technologies
prevalent in the country. Till date, TRULY have franchises in 47 countries with
a total of 160 branch offices.
Tracking the Truly
Story:
Truly
Wheatfield Nolen started this company in Miami, Florida in 1938. His son Truly
David Nolen opened his own pest control business in Tucson, Arizona in the year
1955. In the 1960’s the two businesses were combined into a single entity known
as Truly Nolen of America, Inc.
Today TRULY have branches in Arizona, California, Florida, New Mexico, Nevada,
Texas and Utah as well as multiple domestic and international locations.
An AIB International and HACCP certified company; it is internationally a
provider in Pest Management, Termite Prevention and Lawn Care since 1938.
Their unique and innovative Pest Management division uses chemicals which are
non-toxic and are as safe as common table salt. Truly Pest Solution Private
Limited offers the following pest management services:
They offer services for management of Cockroaches, Rodents, Flies, Termites,
Lizards, Spiders, Ants, Bedbugs, Silver Fish, Fungi and Weeds. For offering
these services, we have established a team of experts trained by Truly Nolen
International experts with good experience in pest management at user
industries.
Internationally, they are providing Pest Management Services to clients like
Dominos, McDonalds, Lays, Coke, Nestle, Nescafe and many more. Nationally we
are associated with ITC Sonar Bangla, Belle View Clinic, Nightingale Hospital,
Big Boss Hotel, The Sonnet Hotel, Mani Square Mall, BIP Estate, Times of India,
Jessop and Company Limited, Colombia Asia Hospital, Apollo Gleneagles Hospital,
Larsen and Toubro, Shapoorji Pallonji and Company and many other prestigious
institutions.
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.45.12 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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.