MIRA
INFORM REPORT
|
Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
ACG PHARMAPACK PRIVATE LIMITED (w.e.f. 11.01.2008) |
|
|
|
|
Formerly Known As : |
PRIKARNA PROPERTIES PRIVATE LIMITED |
|
|
|
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Registered Office : |
1001, Dalamal House, 10th Floor, Nariman Point, Mumbai –
400 021, Maharashtra |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2010 |
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|
|
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Date of Incorporation : |
01.12.2004 |
|
|
|
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Com. Reg. No.: |
11-149770 |
|
|
|
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Capital Investment / Paid-up Capital : |
Rs.104.184 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U45200MH2004PTC149770 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA11035D |
|
|
|
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PAN No.: [Permanent
Account No.] |
AAHCA0550D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer of Blist Pack Films. |
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|
|
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No. of Employees : |
250 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. There
appears some loss being incurred by the company in current year i.e. 2009-10.
However, networth appears to be satisfactory. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Vivek Joshi |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-9881904031 |
LOCATIONS
|
Registered Office : |
1001, Dalamal House, 10th Floor, Nariman Point, Mumbai –
400 021, Maharashtra, India |
|
Tel. No.: |
91-22-22872557 |
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Fax No.: |
91-22-22872560 |
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E-Mail : |
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|
Website : |
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Area : |
2500 Sq. ft. |
|
Location : |
Owned by group company |
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Factory : |
Village Shinde Post, Shirwal Tal Khandala, Satara – 412801,
Maharashtra, India |
|
Tel. No.: |
91-2169-244001 / 305252 |
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Fax No.: |
91-2169-244379 / 305218 |
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E-Mail : |
|
|
Location : |
Owned by group company |
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|
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Sales/ Research
Center : |
Saitech Center 7, Prabhat Nagar, Jogeshwari (West), Mumbai, Maharashtra, India |
|
Tel No.: |
91-22-26780127/ 26791955/ 26789642 |
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Fax No.: |
91-22-26783244 |
|
Email : |
DIRECTORS
As on 22.07.2011
|
Name : |
Mr. Ajit Daljit Singh |
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Designation : |
Director |
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|
Address : |
1 – A, Brighton Rungata Lane, Nepeansea Road, Mumbai – 400 006,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
20.11.1941 |
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Qualification : |
Post Graduate (Mastering Engineering) |
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Date of Appointment : |
01.12.2004 |
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DIN No. : |
00915347 |
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Other Directorship:
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Name : |
Mr. Jasjit Singh |
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Designation : |
Director |
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Address: |
2-B, Swapnalok, L.J. Marg. Nepeansea Road, Mumbai-400006, Maharashtra,
India |
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Date of Birth/ Age: |
03.04.1943 |
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Date of Appointment : |
01.12.2004 |
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DIN No. : |
00901470 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Dilip Ganpat Nagool |
|
Designation : |
Company Secretary |
|
Address : |
A/302, Centre Point, Opp. TMC, Panchpakhadi, Thane – 400 602,
Maharashtra, India |
|
Date of Birth/Age : |
14.11.1956 |
|
Date of Appointment : |
21.05.2008 |
|
PAN No. : |
AAAPM1770C |
|
|
|
|
Name : |
Mr. Vivek Joshi |
|
Designation : |
Senior Finance Manager |
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|
|
|
Name : |
Mr. Vijay S BodhanKar |
|
Designation : |
General Manager – Operation |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B.E. Chemical |
|
Experience : |
30 Years |
|
Date of Appointment : |
18.10.2006 |
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|
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|
Name : |
Mr. Sharad S Kulkarni |
|
Designation : |
Vice President – Operation |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B.E. Chemical, LLB |
|
Experience : |
27 Years |
|
Date of Appointment : |
05.10.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.07.2011
|
Names of Shareholders |
|
No. of Equity Shares |
|
Associated Capsules Private Limited, India |
|
4900 |
|
Ajit Singh Nominee of Associated Capsules Private Limited |
|
100 |
|
Associated Capsules Private Limited, India |
|
4900 |
|
Jasjit Singh Nominee of Associated Capsules Private Limited, India |
|
100 |
|
Jasjit Singh HUF |
|
12765 |
|
Kavita Jasjit Singh |
|
3780 |
|
Nandini Jasjit Singh |
|
1980 |
|
Singh Family Trust, India |
|
180 |
|
Sardar Daljit Singh HUF |
|
5580 |
|
MNT Will Trust |
|
180 |
|
Priya Jasjit Singh |
|
1980 |
|
Karan Jasjit Singh |
|
1980 |
|
Daljit Jasjit Singh |
|
228733 |
|
Daljit Ajit Singh |
|
251398 |
|
Packshield India Private Limited, India |
|
539720 |
|
Total |
|
1058276 |
|
Names of Shareholders |
|
No. of Preference
Shares |
|
AE Advisors Private Limited, India |
|
7488000 |
|
Vijay Kuverba |
|
1872000 |
|
Ajit Singh |
|
50 |
|
Jasjit Singh |
|
50 |
|
Total |
|
9360100 |
Equity Share Breakup (Percentage of total Equity)
As on 23.09.2011
|
Category |
Percentage |
|
Bodies corporate |
51.94 |
|
Directors or relatives of Directors |
48.06 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Blist Pack Films. |
GENERAL INFORMATION
|
No. of Employees : |
250 Approximately |
|||||||||||||||||||||
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Bankers : |
·
Standard Chartered Bank, 90, M G Road, Fort, Mumbai
– 400 001, Maharashtra, India ·
HDFC Bank Limited, 4th Floor,
Milleenium Towers, Bhandarkar Road, Pune – 411004, Maharashtra, India ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel W, Mumbai – 400 013, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. J. Shah and Company Chartered Accountant |
|
Address : |
Fort Chambers, C Block 65, Camarind Lane, Fort, Mumbai – 400 023, Maharashtra, India |
|
PAN No.: |
AAAFA3818L |
|
|
|
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Jointly Owned Subsidiary : |
ACG Hongkong Limited |
|
|
|
|
Companies / Firms over which the
Directors have significant influence or control : |
Companies ·
ACG Arts and Properties Private Limited ·
ACG Associated Capsules Private Limited ·
ACG Ajas Components Private Limited ·
ACG Inspection Systems Private Limited ·
Custom Capsules Private Limited ·
Packshield India Private Limited ·
Pam Glatt Pharma Technologies Private Limited ·
ACG Pampac Machines Private Limited ·
Pam Pharmaceuticals and Allied Machinery Co
Private Limited ·
ACG Real Estate Private Limited (formerly Trambak
Developers Private Limited) ·
Pam Inteck Machines Private Limited ·
ACG Korsch Compression Technologies Private
Limited ·
Nepean Holdings Private Limited ·
Scitech Centre Foreign
Companies ·
Pam USA UCLLC ·
PT. Universal Capsules Indonesia INC ·
Universal Capsules LLC ·
Universal Capsules Philippines Inc ·
Amiricaps USA ·
Symtech International Limited, Dubai ·
First Ventures Limited, Dubai Proprietor AS ·
Transworld Investments Limited, Dubai Proprietor
JS Firms ·
Amil Enterprises ·
Aries Components Mfg and Co ·
Bulk Buyers ·
Capsulabs ·
Centercops ·
Extra Hands ·
Pharmagents ·
Reflection HUF ·
Jasjit Singh (HUF) ·
Sardar Daljit Singh (HUF) TRUSTS ·
CNS Trust ·
MNT Will Trust ·
Singh Family Trust |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
Millions |
|
9500000 |
Preference Shares |
Rs.10/- each |
Rs.95.000
Millions |
|
|
Total |
|
Rs.110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1058276 |
Equity Shares |
Rs.10/- each |
Rs.10.583
Millions |
|
9360100 |
Redeemable Non Cumulative Preference Shares (Redeemable after 3 years from date of
allotment i.e. 22nd July 2008.) |
Rs.10/- each |
Rs.93.601
Millions |
|
|
Total |
|
Rs.104.184 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 |
104.184 |
104.184 |
104.184 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
553.694 |
573.320 |
553.215 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
657.878 |
677.504 |
657.399 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
265.141 |
0.098 |
36.760 |
|
|
2] Unsecured Loans |
95.644 |
95.644 |
95.712 |
|
|
TOTAL BORROWING |
360.785 |
95.742 |
132.472 |
|
|
DEFERRED TAX LIABILITIES |
4.573 |
7.874 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1023.236 |
781.120 |
789.871 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
514.375 |
310.653 |
36.121 |
|
|
Capital work-in-progress |
13.102 |
41.235 |
171.336 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.238 |
0.000 |
17.285 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
3.082 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
138.561
|
118.629 |
160.345 |
|
|
Sundry Debtors |
369.355
|
271.675 |
253.799 |
|
|
Cash & Bank Balances |
1.236
|
25.828 |
26.253 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
128.123
|
124.972 |
250.284 |
|
Total
Current Assets |
637.275
|
541.104 |
690.681 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
90.761
|
44.309 |
47.724 |
|
|
Other Current Liabilities |
46.904
|
57.052 |
42.320 |
|
|
Provisions |
5.089
|
10.511 |
38.618 |
|
Total
Current Liabilities |
142.754
|
111.872 |
128.662 |
|
|
Net Current Assets |
494.521
|
429.232 |
562.019 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.028 |
|
|
|
|
|
|
|
|
TOTAL |
1023.236 |
781.120 |
789.871 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1165.800 (Net Turnover) |
1136.677 (Gross Turnover) |
996.608 (Gross Turnover) |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
23.928 |
54.825 |
NA |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
11.378 |
3.960 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.550 |
50.865 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
35.476 |
18.569 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX |
(22.926) |
32.296 |
99.533 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(3.301) |
12.192 |
34.426 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX |
(19.625) |
20.104 |
65.107 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
40.208 |
65.104 |
(0.003) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
0.000 |
45.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
20.583 |
40.208 |
65.104 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
342.919 |
221.302 |
148.997 |
|
|
|
Agency Commission |
13.322 |
13.318 |
11.789 |
|
|
TOTAL EARNINGS |
356.241 |
234.620 |
160.786 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
478.000 |
370.764 |
317.272 |
|
|
|
Stores & Spares |
0.000 |
0.000 |
0.046 |
|
|
|
Capital Goods |
56.605 |
10.012 |
22.080 |
|
|
|
Others |
2.876 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
537.481 |
380.776 |
339.398 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.88) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.99)
|
3.79 |
13.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03)
|
0.05 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.77
|
0.31 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.46
|
4.84 |
5.37 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
The Company has recorded a net turnover of Rs.1165.800
millions for 2009-10 registering a growth of 10% over previous year. The performance
is attributable to the Co’s additional thrust on new markets, international
business, innovative products and additional capacities introduced during the
year. The drop in profit before tax is mainly on account of stabilization of
company’s new manufacturing set up of barrier film.
During the year 2009-10 company successfully completed the
relocation of existing facilities along with the expansion project. The State
of the Art brand new CGMP and Class 100,000 facility reaches new levels of global
manufacturing standards. The new site has been widely praised by Pharmaceutical
company visitors and auditors as the new bench mark in global films
manufacturing.
CONTINGENT LIABILITIES NOT PROVIDED FOR
·
Letters of Undertaking to Customs towards export
obligation against advance license Rs.97.296 millions (Previous year Rs. 68.902
Millions)
·
Bank guarantee issued by bank on behalf of company
Rs.1.218 millions. (Previous year Rs. 2.134 Millions)
·
L/C issued to vendor against import obligation
Rs.96.084 millions. (Previous year Rs. 4.221 Millions)
FORM 8
|
Corporate identity number of the company |
U45200MH2004PTC149770 |
|
Name of the company |
ACG PHARMAPACK PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
1001, Dalamal House, 10th
Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10200491 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge ·
Others o
Stock |
|
Particular of charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
W, Mumbai – 400 013, Maharashtra, India Email: abhishek.sahay@hdfcbank.com
|
|
Nature of instrument creating charge |
Supplemental Letter of Hypothecation of stocks and book debts dated
24/06/2011 |
|
Date of instrument Creating the charge |
24.06.2011 |
|
Amount secured by the charge |
Rs.380.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest Credit Facilities Interest/Commission - As agreed by and with the Bank from time to time Terms of repayment As agreed by and with the Bank from time to time Margin As applicable, if any Extent and operation of the charge First pari passu charge by way of Hypothecation on company's entire
stock and book debts both present and future |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
First pari passu charge by way of Hypothecation on company's entire
stock and book debts both present and future |
|
Particulars of the present modification |
By this modification the present charges on company's stock and book
debts both present and future has been extended for enhancement of Rs.150
million in the credit facilities in form of Working Capital i.e. Rs.230 million
to Rs.380 million. |
|
Corporate identity number of the company |
U45200MH2004PTC149770 |
|
Name of the company |
ACG PHARMAPACK PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
1001, Dalamal House, 10th
Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10200491 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge ·
Others o
Stock |
|
Particular of charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
W, Mumbai – 400 013, Maharashtra, India Email: abhishek.sahay@hdfcbank.com
|
|
Nature of instrument creating charge |
Supplemental Letter of Hypothecation of stocks and book debts |
|
Date of instrument Creating the charge |
04.06.2010 |
|
Amount secured by the charge |
Rs. 230.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest Credit Facilities Interest/Commission - As agreed by and with the Bank from time to time Terms of repayment As agreed by and with the Bank from time to time Margin As applicable, if any Extent and operation of the charge First pari passu charge by way of Hypothecation on company's entire
stock and book debts both present and future |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
First pari passu charge by way of Hypothecation on company's entire
stock and book debts both present and future |
|
Date of Last Modification prior to the present modification |
03.03.2010 |
|
Particulars of the present modification |
By this modification the present charge on company’s stock and book
debts both present and future has been extended for enhancement of Rs.
100.000 Millions in the credit facilities in form of working capital i.e.
from Rs. 130.000 Millions to Rs. 230.000 Millions |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Machinery
·
Data Processing
Equipments
·
Vehicles
·
Furniture / Fixtures and
Office Equipments
·
Furniture
·
Office Equipment
WEBSITE DETAILS
Subject is more famously known as a pioneer in introducing high moisture
barrier, pharma-grade PVdC coated PVC films in India.
Today, Subject provides a complete range of high quality barrier packaging
films for pharmaceutical, food and medical devices industries. It is by far the
only facility in India to manufacture both-the rigid substrate PVC film, as
well as high moisture barrier PVdC coatings and laminations in the same
facility, thus ensuring total control of quality film. For hygroscopic
formulations, Subject also manufactures a Triplex structure PVC/PE/PVdC films
and PVC/Aclar, providing a wide range of barrier films based on PVC and PVdC.
Subject range includes the ultimate high barrier Aluminum Cold Forming Blister
Foil and pinhole-free Lidding Foil which is marketed in collaboration with
Amcor (formerly Alcar Packaging, Germany), a global leader in the discipline.
In collaboration with world leader Honeywell of USA, Subject markets the
extremely high barrier range of Aclar barrier laminates in India. In both these
alliances, Subject provides slitting, stocking and technical services thus
enhancing the value of the final product.
Subject's state-of-the-art plant in Shirwal, near Pune, maintains the high cGMP
standards required for the pharmaceutical and food industries. It is an ISO
9001:2000 certified unit coupled with conformance to class 100,000. The latest
developments in technology in high barrier films are introduced through the
subject Product Innovation laboratory. Subject, with its comprehensive range of
products, high quality manufacturing operations and expertise of the
technologies for the testing and development of packaging materials and with
full support of its international partners, provides the most comprehensive
pharma-packaging solution, found nowhere else in the world.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.48.87 |
|
UK Pound |
1 |
Rs.78.11 |
|
Euro |
1 |
Rs.68.36 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.