MIRA
INFORM REPORT
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Report Date : |
11.03.2011 |
Note:
Given address could not be confirmed.
IDENTIFICATION DETAILS
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Name : |
DUJODWALA PRODUCTS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
03.07.1981 |
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Com. Reg. No.: |
11-24742 |
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CIN No.: [Company
Identification No.] |
L24110MH1981PTC024742 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business : |
Manufacturer and selling of Camphor, Sodium Acetate and byproducts, Terpene Chemicals and Synthetics. |
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 1300000 |
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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
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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 DECLINED BY
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Name : |
Mr. Avinash |
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Designation : |
Operator |
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Date : |
09.03.2011 |
LOCATIONS
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Registered Office/ Plant : |
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Tel. No.: |
91-22-22854618/22824089/2192-276061/276140 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
812, Tulsiani Chambers, 212 Nariman Point, Mumbai-400 021,
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Tel. No.: |
91-22-33079300/22824089/33079389 |
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Mobile No.: |
91-9323659381 (Mr. Mohan Agrawal) |
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Fax No.: |
91-22-33079381/22841281/84 |
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E-Mail : |
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Area : |
1150 sq.ft |
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Location : |
Owned |
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Branches : |
Located at: Tel. No.:
91-11-23312774/2335/2895 Fax No.:91-11-3312717 Mobile No.: 91-9312439432 Kolkata Tel. No.:
91-33-22261006/22267912 Fax No.: 91-33-22263927 Chennai Tel. No.:
91-44-5358219/5351289/5355865 Fax No.: 91-44-5355853 Tel. No.: 91-80-65737066/67 Fax No.: 91-80-22273147 Tel. No.:
91-40-27722561/27721159 Fax No.: 91-40-27812846 Kumbhivali Tel. No.: 91-2192-276116/276140 Tel. No.: 91-1923-20246/20317 Fax No.: 91-1923-220617 Tel. No.: 91-452-746582/746201 |
DIRECTORS
As on : 17.09.2010
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Name : |
Mr. Kamalkumar Dujodwala |
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Designation : |
Chairman |
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Name : |
Mr. Pannkaj Dujodwala |
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Designation : |
Managing Director |
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Name : |
Mr. R.K. Shriya |
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Designation : |
Director |
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Date of Birth/Age : |
31.12.1934 |
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Date of Appointment : |
21.08.1995 |
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Qualification : |
B.Com. |
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List of Public
Companies In which Outside Directorships held as on 31st March, 2008 : |
· Bajrang Finance Limited · Remi Securities Limited · Remi Process Plant and Machinery Limited) · Advent Investment and Finance Company Limited |
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Expertise of
specific Functional areas : |
Dealing in Textiles Business. |
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Name : |
Mr. Narendra Goenka |
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Designation : |
Director |
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Name : |
Ms. Madhavi Kapadia |
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Designation : |
Nominee Director - IDBi Limited
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Name : |
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Designation : |
Whole Time Director |
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Name : |
Mr. Rajkumar Saraf |
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Designation : |
Director |
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Name : |
Mr. Rajkumar Jatia |
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Designation : |
Director |
KEY EXECUTIVES
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Audit Committee : |
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Mr. Kamalkumar Dujodwala, Chairman Mr. Narendra Goenka, Member Ms. Madhavi Kapadia, Member Mr. S. C. Sen Mr. R. K. Shriya |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Category of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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1,975,500 |
22.91 |
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1,794,885 |
20.82 |
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3,770,385 |
43.73 |
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Total shareholding of Promoter and Promoter Group (A) |
3,770,385 |
43.73 |
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(B) Public Shareholding |
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1,900 |
0.02 |
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600 |
0.01 |
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2,500 |
0.03 |
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802,845 |
9.31 |
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2,444,028 |
28.35 |
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1,205,102 |
13.98 |
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396,740 |
4.60 |
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92,880 |
1.08 |
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303,860 |
3.52 |
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4,848,715 |
56.24 |
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Total Public shareholding (B) |
4,851,215 |
56.27 |
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Total (A)+(B) |
8,621,600 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
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Total (A)+(B)+(C) |
8,621,600 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 millionBUSINESS DETAILS
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Line of Business : |
Manufacturer and selling of Camphor, Sodium Acetate and byproducts, Terpene Chemicals and Synthetics. |
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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: 60 Days |
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Purchasing : |
L/C: 60 Days |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
350 (40 – In Office + 250 – In Factory + 60 – In Branch)
(Approximately) |
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Bankers : |
·
The Jammu and Kashmir Bank Limited, Fort,
Mumbai, ·
Industrial Development Bank of India Limited, · HDFC Bank · ICICI Bank · Citi Bank · SBI Khopoli Bank · SBICI Bank ·
The Saraswat Co-operative Bank Limited
(Scheduled Bank), Fort, Mumbai, · Kotak Mahindra Bank · Saraswat Co-operative Bank Limited, CST Branch, Taj Building Ground Floor, A. K Nayak Marg, Fort, Mumbai , Maharashtra, India · IDBI Bank |
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Facilities : |
L/C: Rs. 150.000 millions, L/C: Rs. 220.000 millions, Export Packing: Rs. 50.000 millions (Saraswat Co-operative Bank Limited)
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Sunderlal, Desai and Kanodia Chartered Accountants |
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Address : |
903, |
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Tel. No.: |
91-22-22832801 |
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E-mail : |
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Solicitors and Advocates : |
Bachubhai Munim and Company |
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Address : |
Mumbai, |
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Associates/Subsidiaries : |
· Sterling Products · Nidhi Chemicals · Dujodwala Resin and Terpenes Limited · Indo-Euro Securities Limited · Alcon Enterprises · Chemexcil Corporation · Balaji Pine Chemicals Limited · Specialty Chemicals |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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12000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 120.000 millions |
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Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8621600 |
Equity Shares |
Rs. 10/- Each |
Rs. 86.216 millions |
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Less : |
Calls in Arrears
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Rs. 0.152 million |
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Total |
Rs. 86.064 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
86.064 |
86.064 |
86.064 |
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2] Share Warrants |
9.029 |
0.000 |
0.000 |
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3] Reserves & Surplus |
230.533 |
169.199 |
165.223 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
325.626 |
255.263 |
251.287 |
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LOAN FUNDS |
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1] Secured Loans |
123.895 |
128.178 |
294.858 |
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2] Unsecured Loans |
0.000 |
7.040 |
15.077 |
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TOTAL BORROWING |
123.895 |
135.218 |
309.935 |
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DEFERRED TAX LIABILITIES |
50.361 |
47.827 |
45.673 |
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TOTAL |
499.882 |
438.308 |
606.895 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
368.657 |
311.652 |
307.022 |
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Capital work-in-progress |
13.741 |
0.000 |
0.000 |
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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 |
165.638
|
191.054 |
264.450 |
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Sundry Debtors |
142.839
|
125.047 |
141.543 |
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Cash & Bank Balances |
52.176
|
14.152 |
10.154 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
104.484
|
67.353 |
21.516 |
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Total
Current Assets |
465.137
|
397.606 |
437.663 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
243.383
|
245.286 |
122.946 |
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Other Current Liabilities |
52.082
|
11.786 |
14.844 |
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Provisions |
52.188
|
13.878 |
0.000 |
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Total
Current Liabilities |
347.653
|
270.950 |
137.790 |
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Net Current Assets |
117.484
|
126.656 |
299.873 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
499.882 |
438.308 |
606.895 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
1458.299 |
1126.818 |
774.061 |
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Excise Duty Refund |
0.057 |
2.199 |
7.689 |
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Other Income |
7.546 |
0.099 |
16.254 |
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TOTAL (A) |
1465.902 |
1129.116 |
798.004 |
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Less |
EXPENSES |
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Raw Material Consumed |
989.377 |
763.897 |
449.293 |
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Trading Purchases |
143.454 |
76.234 |
50.876 |
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Manufacturing, Administrative, Selling and Other Expenses |
207.731 |
188.702 |
152.799 |
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Increase / (Decrease) in Stock |
(21.330) |
33.780 |
77.046 |
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TOTAL (B) |
1319.232 |
1062.613 |
730.014 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
146.670 |
66.503 |
67.990 |
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Less |
FINANCIAL
EXPENSES (D) |
6.327 |
29.410 |
34.458 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
140.343 |
37.093 |
33.532 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.817 |
27.068 |
26.769 |
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PROFIT BEFORE
TAX (E-F) (G) |
110.526 |
10.025 |
6.763 |
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Less |
TAX (I) |
38.415 |
4.477 |
3.715 |
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PROFIT AFTER TAX
(G-I) (J) |
72.111 |
5.548 |
3.048 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
88.142 |
88.095 |
90.547 |
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Less |
APPROPRIATIONS |
|
|
|
|
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|
|
Transfer to General Reserve |
5.500 |
5.500 |
5.500 |
|
|
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Dividend |
8.606 |
0.000 |
0.000 |
|
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Tax on Dividend |
1.429 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
144.718 |
88.143 |
88.095 |
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EARNINGS IN
FOREIGN CURRENCY |
82.015 |
72.873 |
NA |
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IMPORTS |
|
|
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|
|
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|
Raw Materials |
677.413 |
352.047 |
NA |
|
|
|
Traveling Expenses |
1.349 |
0.220 |
NA |
|
|
|
Purchase of Trading Goods |
27.655 |
0.000 |
NA |
|
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TOTAL IMPORTS |
706.417 |
352.267 |
NA |
|
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|
|
|
|
|
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Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
8.38 |
0.64 |
0.35 |
|
|
|
- Diluted |
8.19 |
0.64 |
0.35 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 (1st
Quarter) |
30.09.2010 (2nd
Quarter) |
31.12.2010 (3rd
Quarter) |
|
Sales Turnover |
317.300 |
552.200 |
550.570 |
|
Other Income |
0.500 |
0.300 |
495.110 |
|
Total Income |
317.800 |
552.500 |
55.460 |
|
Total Expenses |
259.200 |
494.400 |
3.870 |
|
Operating Profit |
58.100 |
57.800 |
59.330 |
|
Gross Profit |
58.600 |
58.100 |
9.270 |
|
Interest |
5.100 |
9.300 |
0.000 |
|
PBDT |
53.500 |
48.800 |
50.060 |
|
Depreciation |
8.500 |
8.600 |
8.150 |
|
PBT |
45.000 |
40.200 |
41.910 |
|
Net Profit |
45.000 |
40.200 |
41.910 |
|
Earnings Per Share |
5.22 |
4.66 |
4.86 |
|
Equity |
8.62 |
8.62 |
8.62 |
|
Face Value |
10.00 |
10.00 |
10.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.92
|
0.49 |
0.38 |
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
7.58
|
0.89 |
0.87 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.26
|
1.41 |
0.91 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.04 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.45
|
1.59 |
1.78 |
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Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.47 |
3.18 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
243.383
|
245.286 |
122.946 |
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Trade References:
- Asian Paints
- Goodlass Nerolac
- Lubrizol
- Ceat Tyres
MANAGEMENT DISCUSSION
AND ANALYSIS
Overview
The Company is
engaged in the manufacturing and selling of Camphor, Sodium Acetate, Terpenes
Chemicals and Synthetics Resins at its Unit located at Kumbhivali,
Discussion on
Financial Performance with respect to Operational Performance
During the year,
the Company has achieved sales and other income of Rs. 1568.425 Millions as
against Rs. 1244.740 millions during the previous year resulting in increase of
26%. Whereas the net profit has increased at Rs. 72.111 millions as against Rs.
5.547 millions during the previous year mainly on account of better performance
of the company and less outgo of interest.
Internal Control
Systems and its Adequacy
The Company has
put in place necessary internal control systems commensurate with its
operations. Periodical checks are conducted and necessary remedial measures are
adopted.
DIRECTORS:
a) Shri R. K.
Shriya Director of the Company retires by rotation at the ensuing Annual
General Meeting and being eligible offer themselves for re-appointment.
b) Shri Narendra
Goenka Director of the Company retires by rotation at the ensuing Annual
General Meeting and being eligible offer themselves for re-appointment.
c) Shri Anil Pavse
who was appointed as a Director on 28.11.2009 has resigned from the
directorship on 25.05.2010.
Fixed assets:-
· Land
· Residential Premises
·
· Plant And Machinery
· Vehicles
· Furniture And Fixtures
· Computer
· Office Equipment
· Office Premises
Contingent Liabilities
|
Contingent Liabilities - Not provided for
in respect of. |
31.03.2010 (Rs. In
Millions) |
|
|
|
|
Bank Guarantee |
0.105 |
|
|
|
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER AND HALF YEAR ENDED 31st DECEMBER 2010
(Rs. In Millions)
|
Particulars |
Quarter ended on 31.12.2010 (Unaudited) |
Nine Months ended on 31.12.2010 (Unaudited) |
|
a) Net Sales / Income from Operations including Trading Sales |
550.571 |
1420.088 |
|
b) Other Income |
3.865 |
4.647 |
|
Total Income |
554.436 |
1424.735 |
|
Expenditure |
|
|
|
(a) (Increase)/decrease in Stock in Trade |
(25.844) |
(22.687) |
|
(b) Consumption of Raw Materials |
428.595 |
1016.628 |
|
(c) Purchase of traded goods |
25.529 |
63.498 |
|
(d) Employees Cost |
13.392 |
35.107 |
|
(e) Depreciation |
8.150 |
25.242 |
|
(f) Other Expenditure |
53.431 |
156.187 |
|
Total Expenditure |
503.253 |
1273.975 |
|
Interest |
9.269 |
23.628 |
|
Exceptional Items |
-- |
-- |
|
Profit / (Loss) From
Ordinary activities before Tax |
41.914 |
127.132 |
|
Tax Expenses |
-- |
-- |
|
Net Profit/(Loss) From Ordinary activities after Tax |
41.914 |
127.132 |
|
Extraordinary Items |
|
|
|
Net Profit/(Loss) for the period |
-- |
-- |
|
Paid Up Equity Share Capital ( Face Value of the share Rs.10/- each ) |
862.16 |
862.16 |
|
Reserves (Excluding Revaluation Reserves) |
|
|
|
Public Share
Holding |
|
|
|
Before Extraordinary
Items (not to be annualized) |
|
|
|
-Basic |
4.87 |
14.77 |
|
-Diluted |
3.97 |
12.05 |
|
After Extraordinary Items (not to be annualized) |
|
|
|
-Basic |
4.87 |
14.77 |
|
-Diluted |
3.97 |
12.05 |
|
Average of Public Share Holding |
|
|
|
- Number of Shares |
4851215 |
4851215 |
|
- Percentage of shareholding |
56.27 |
56.27 |
|
Promoters and Promoter group share holding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of Shares |
|
|
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
NA |
NA |
|
- Percentage of shares(as a % of the total share capital of the company) |
NA |
NA |
|
b) Non-encumbered |
|
|
|
- Number of Shares |
3770385 |
3770385 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
100 |
100 |
|
- Percentage of Share (as a % of the total share capital of the company) |
43.73 |
43.73 |
NOTE :
1. The above financial results were received by the Audit Committee and
taken on record by the Board of Directors of the company as its meeting held on
29th January 2011.
2. The statutory Auditors of the company have carried out a “Limited Review”
of the unaudited financial results in terms of clause 41 of the Listing
Agreement.
3. During the quarter, we have received two investor’s complaints and were
resolved successfully there were no investors complaints pending for redressal
at the end of the quarter
4. The segment wise reporting as defined in AS-17 is not applicable since
the company has only one reportable segment “Chemicals”.
5. Provision for tax will be made at the year end. The company has paid
advance tax of Rs. 10.000 millions till 31st December 2010.
6. Corresponding figures of the previous period / year have been re-grouped
wherever necessary to make them comparable.
WEB SITE DETAILS:
INTRODUCTION:
They, the
dujodwala's entered in the field of Naval Stores industry in 1947 and since
then, they have been engaged in manufacturing / supplying the products of naval
stores industry which consists of Gum Rosin, Oil of Turpentine and their
derivatives.
It takes generations
of care to create a bonsai. The same care on a larger scale has gone into
making dujodwala a leader in the development of newer and better chemical
products.
There modern
research facilities have opened new avenues for there company and they produce
today a wide range of Resins/ Terpenes products for applications in Coatings /
Chemicals / Rubber / Paper / Textiles / Adhesives / Perfumery / Hygiene /
Floatation of Ores etc.
The wide range of products manufactured by dujodwala have become almost a
necessity for the modern world.
Over a decades of
intensive research has enabled them to give a constant supply to there
customers with quality in quantity and the dujodwala technical development has
ensured extreme care in handling natural resources which has remained the
guiding principle for the company.
They believe it is there mission to contribute to the progress of society by
utilizing to the fullest the techniques, they have accumulated over the years.
This website covers there company and product profile in brief. Please feel
free to write to them for more details and information, which they will be
happy to furnish on hearing from you.
PROFILE:
The house of Dujodwala owes its existence and sustained growth to the
Founder Chairman Mr. Ramgopal M Dujodwala, A pioneer in the field of Rosin and
Terpene Chemicals. His vision and innovation backed by a missionary zeal, has
led to all – round steady with solid foundations in production and marketing of
the Groups products.
A) Product Strenght :
• Leader in the field of Organic Chemicals like Rosin,
Terpene Chemicals, Camphor, Pine Oil, Dipentene, Sodium Acetate
• Successful diversification into Synthetic Resins like Estergum,
Maleic Phenolics, Polyster and Foundry Resin
B) Organisational and Managerial Strenghts:
• Dujodwala family has over 50 years experience in the Resin, Terpenes
and its Derivatives Industry.
• They are supported by professional Board of Directors drawn from
experienced and eminent personalities in business and industry in
• The Managerial team is comprises of highly qualified professionals in
the respective disciplines.
C) Marketing and Infrastructural Strenghts:
• Well –oiled marketing network spread all over
• Offices in prime localities of important metros and towns in
• Computerised and automated systems and communications network.
D) Goodwill:
• The House of Dujodwala carries enormous goodwill of its business
associates and customers.
• The Group’s commitment to business ethics and professional integrity
has enabled it to forge long term association with suppliers and customers.
Subject is one of
They are a government recogonised export house having ISO certification
of 9001:2008 and also having license for food and drug administration to
manufacturing pharmaceutical grade products.
The plant is equipped with most modern machinery and test laboratory
facilities to meet the stringent norms of international quality controls.
ACHIEVEMENTS and
AWARDS
• Mr. R.M.Dujodwala (Founder Chairman- Subject) receiving Rajiv Gandhi
Excellence Award.
• Mr. R M Dujodwala (Founder Chairman- Subject) receiving Award from
Mother Teresa.
• Udyog Rattan Award from
• Mr. R. M. Dujodwala (Founder Chairman – Subject) with Shri
Rajiv Gandhi Prime Minister of
• Mr. R. M. Dujodwala (Founder Chairman – Subject) with Shri
Shankardayal Sharma President of
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. 45.11 |
|
|
1 |
Rs. 72.90 |
|
Euro |
1 |
Rs. 62.56 |
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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.