1. Summary Information
|
|
|
Country |
|
|
|
|
Company Name |
CERADECOR INDIA
LIMITED |
Principal Name 1 |
Mr. Ranji Lal Verma |
|
|
|
Status |
Moderate |
Principal Name 2 |
Mr. Rajiv Mohan Verma |
|
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|
|
|
Registration # |
55-090456 |
|
|
|
Street Address |
F- 9, 2nd
Floor, Kailash Colony, |
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|||
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Established Date |
28.10.1997 |
SIC Code |
--- |
||
|
Telephone# |
91-11-65655534 |
Business Style 1 |
Manufacturer |
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|
Fax # |
91-11-29236721 |
Business Style 2 |
Trader |
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|
Homepage |
Product Name 1 |
Vitrosa |
|||
|
# of employees |
80 (Approximately) |
Product Name 2 |
Screen Printing Glazes |
||
|
Paid-up capital |
Rs.10,000,000/- |
Product Name 3 |
Metallic Glass and Glazes |
||
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
HDFC Bank |
||
|
Public Limited Corp. |
NO |
Business Period |
14 Years |
||
|
IPO |
NO |
International Ins. |
-- |
||
|
Public |
NO |
Rating |
B [30] |
||
|
Related
Company |
|
||||
|
Relation |
Country
- |
Company
Name |
CEO |
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|
- |
- |
- |
- |
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|
Note |
- |
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|||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
47,212,000 |
Current Liabilities |
25,701,000 |
|
Inventories |
28,148,000 |
Long-term Liabilities |
35,138,000 |
|
Fixed Assets |
31,977,000 |
Other Liabilities |
3,053,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
63,892,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
33,445,000 |
|
|
|
Net Worth |
43,445,000 |
|
Total Assets |
107,337,000 |
Total Liab. & Equity |
107,337,000 |
|
Total Assets (Previous Year) |
95,330,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
188,065,000 |
Net Profit |
5,963,000 |
|
Sales(Previous yr) |
134,945,000 |
Net Profit(Prev.yr) |
3,482,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
CERADECOR INDIA LIMITED |
|
|
|
|
Registered Office : |
F- 9, 2nd Floor, Kailash Colony, |
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|
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|
Country : |
|
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|
|
|
Financials (as on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation : |
28.10.1997 |
|
|
|
|
Com. Reg. No.: |
55-090456 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1997PLC090456 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELC04043E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCC1435F |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer and Trader of Ceramic Tiles Colours. |
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|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 173000 |
|
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|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having satisfactory track. The
management has not filed the latest financials of the company with the
government departments. However, trade relations are reported as fair.
Business is active. Payments are unknown. The company can be considered for business dealings with some caution. |
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) |
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|
|
|
|
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. Surjit |
|
Designation : |
Account Manager |
|
Contact No.: |
91-11-65655534 |
|
Date : |
02.11.2011 |
LOCATIONS
|
Registered Office : |
F- 9, 2nd Floor, Kailash Colony, |
|
Tel. No.: |
91-11-65655534 |
|
Fax No.: |
91-11-29236721 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
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|
|
|
Factory : |
C-27-28, Site C, Surajpur, UPSIDC Industrial Area, Greater Noida-
201306, |
|
Tel. No.: |
91-120-2560644/ 2569210 |
|
Fax No.: |
91-120-2569142 |
|
|
|
|
Location : |
Owned |
DIRECTORS
As on : 30.09.2009
|
Name : |
Mr. Ramji Lal Verma |
|
Designation : |
Director |
|
Address : |
K- 46, Kailash Colony, |
|
Date of Birth/Age : |
03.07.1930 |
|
Date of Appointment : |
27.10.2000 |
|
DIN : |
01227136 |
|
|
|
|
Name : |
Mr. Rajiv Mohan Verma |
|
Designation : |
Director |
|
Address : |
K- 46, Kailash Colony, |
|
Date of Birth/Age : |
31.10.1957 |
|
Date of Appointment : |
28.10.1997 |
|
DIN : |
01227168 |
|
|
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|
Name : |
Mrs. Sangeeta Verma |
|
Designation : |
Director |
|
Address : |
K- 46, Kailash Colony, |
|
Date of Birth/Age : |
18.09.1965 |
|
Date of Appointment : |
28.10.1997 |
|
DIN : |
01670969 |
KEY EXECUTIVE
|
Name : |
Mr. Surjit |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ranji Lal Verma |
|
55200 |
|
Mr. Rajiv Mohan Verma |
|
824000 |
|
Mrs. Sangeeta Verma |
|
120000 |
|
Mrs. Usha Rani Verma |
|
200 |
|
Mrs. Minakshi Sikka |
|
200 |
|
Mr. Ved Vyas Sharma |
|
200 |
|
Ms. Vineeta Bali |
|
200 |
|
TOTAL |
|
1000000 |
As On 21.12.2009
|
Names of Allottees |
|
No. of Shares Allotted |
|
Rajiv Verma |
|
265000 |
|
Sangeeta Verma |
|
50000 |
|
Total |
|
315000 |
As On 30.09.2009
|
Equity Share
Break up Category |
Percentage |
|
Directors or
relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Ceramic Tiles Colours. |
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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, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
PRODUCTION STATUS [As on 31.03.2009]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Vitrosa/Pigments |
M.T. |
600 |
600 |
404 |
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GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
End Users
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No. of Employees : |
80 (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 : |
Malhotra Arun and Company Chartered Accountants |
|
Address : |
1/84, Basement, Old Rajinder Nagar, |
|
Tel. No.: |
91-11-25728846 |
|
Mobile No.: |
91-9810308510 |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- Each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- Each |
Rs.10.000
Millions |
|
|
|
|
|
After 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- Each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : Rs.13.150 millions
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,315,000 |
Equity Shares |
Rs.10/- Each |
Rs.13.150
Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
33.445 |
32.487 |
29.005 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
43.445 |
37.487 |
34.005 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.302 |
16.419 |
21.581 |
|
|
2] Unsecured Loans |
3.836 |
4.738 |
4.955 |
|
|
TOTAL BORROWING |
35.138 |
21.157 |
26.536 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
78.583 |
58.644 |
60.541 |
|
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|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
31.977 |
30.611 |
29.224 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
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|
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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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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
28.148
|
12.056
|
8.285 |
|
|
Sundry Debtors |
39.997
|
34.756 |
34.814
|
|
|
Cash & Bank Balances |
0.843
|
11.896 |
11.627
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
6.372
|
6.011 |
6.854
|
|
Total
Current Assets |
75.360
|
64.719 |
61.580 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.506
|
29.535 |
22.497 |
|
|
Current Liabilities |
6.195
|
5.233 |
6.539 |
|
|
Provisions |
3.053
|
1.918 |
1.227 |
|
Total
Current Liabilities |
28.754
|
36.686 |
30.263 |
|
|
Net Current Assets |
46.606
|
28.033 |
31.317 |
|
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
78.583 |
58.644 |
60.541 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
188.065 |
134.945 |
98.576 |
|
|
|
Other Income |
1.545 |
0.538 |
3.282 |
|
|
|
TOTAL (A) |
189.610 |
135.483 |
101.858 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed |
144.838 |
99.912 |
79.764 |
|
|
|
Consumption of stores and spares |
0.757 |
0.394 |
0.344 |
|
|
|
Salaries, Wages and Bonus |
6.983 |
5.372 |
10.250 |
|
|
|
Managerial Remuneration |
2.264 |
1.529 |
0.927 |
|
|
|
Payment of auditors |
0.037 |
0.036 |
0.047 |
|
|
|
Insurance Expenses |
0.397 |
0.000 |
0.000 |
|
|
|
Power and fuel |
1.411 |
0.790 |
0.517 |
|
|
|
Other expenditure |
33.135 |
20.125 |
3.159 |
|
|
|
Increase / Decrease in stock |
(16.093) |
(3.771) |
(3.232) |
|
|
|
TOTAL (B) |
173.729 |
124.387 |
91.776 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.881 |
11.096 |
10.082 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.216 |
1.542 |
2.498 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.665 |
9.554 |
7.584 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.489 |
4.020 |
3.098 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.176 |
5.534 |
4.486 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.213 |
2.052 |
1.338 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.963 |
3.482 |
3.148 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE - Raw Material |
151.542 |
91.287 |
72.990 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
5.96 |
3.48 |
6.29 |
|
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover [Approximately] |
|
274.800 |
217.300 |
The above information has been parted by Mr. Surjit [Account Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
3.14
|
2.57 |
2.83
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.87
|
4.10 |
4.55
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.54
|
5.80 |
7.41
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.14 |
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.47
|
1.54 |
1.67
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.62
|
1.76 |
2.03 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
- |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
No |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
No |
|
Details
of sister concerns |
- |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
No |
|
Incorporation
details, if applicable |
- |
|
Last
accounts filed at ROC |
- |
|
Major
Shareholders, if applicable |
- |
TRADE REFERENCES :
- Ferro Ceramic
- Orient Ceramic Tiles Limited, Shavlona
Operations :
During the period the turnover was Rs. 188.064 Millions as compared to
Rs. 134.944 Millions during the last year. The profit before Interest,
depreciation and tax has been Rs. 15.882 Millions during the year as compared
to Rs. 11.097 Millions during the previous year. The net profit added to the
Reserve and Surplus was Rs. 5.957 Millions as against Rs. 3.482 Millions added
during the previous year.
FORM : 8
|
Name of the
company |
CERADECOR INDIA LIMITED |
|
Presented By |
Company and The Federal
Bank Limited |
|
1) Date and description of instrument creating the change |
Hypothecation
agreement for goods and book debts dated 24.03.2001 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.500
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of the
borrower’s stock of ceramic and glass colours, lacquers, now or hereafter
from time to time during this security shall be brought the borrower’s godown
or premises at okhla industrial Area bearing No. 90/21 WARD No. F New Delhi
or wherever else the same may be and all present and future book debts,
outstanding moneys etc. shall be hypothecated to the bank by way of first
charge. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
@17.5% |
|
5) Name and Address and description of the person entitled to the charge. |
The Federal Bank Limited, |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10106212 |
|
Corporate
identity number of the company |
U74899DL1997PLC090456 |
|
Name of the company
|
CERADECOR INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
F- 9, 2nd Floor, Kailash Colony, |
|
Type of charge |
Immovable
Property |
|
Particular of charge
holder |
HDFC Bank, HDFC Bank House, Senapati Bapat Marg, Lower Parel, (West),
Mumbai- 400013, Maharashtra, India. |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum
recording past transactions of creation of mortgage by delivery of title
deeds. |
|
Date of
instrument Creating the charge |
08.09.2009 |
|
Amount secured by
the charge |
Rs.35.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest : Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment : Working Capital
shall be repayable on Demand. Margin : As may be
stipulated by the Bank from time to time. Extent and Operation of the charge : The company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of constructive delivery) in respect of its immovable
properties as mentioned under item no. 15 below, as security for repayment of
Rs. 35.000 Millions by the company, together with principal, interest,
liquidated damages, costs, charges and expenses. |
|
Short particulars
of the property charged |
Industrial
Property at C-27 and 28, Site C, Surajpur, UPSIDC Industrial Area, Greater Noida,
Uttar Pradesh. |
|
Particulars of
the present modification |
The Equitable
mortgage/ charge now stands increased from Rs. 25.000 Millions to Rs. 35.000
Millions (Comprising: cash credit of Rs. 30.000 Millions, LC of Rs. 30.000
Millions as sub- limit and Bank guarantee of Rs. 5.000 Millions) in favour of
the Bank. |
|
Corporate
identity number of the company |
U74899DL1997PLC090456 |
|
Name of the
company |
CERADECOR INDIA LIMITED |
|
Address of the registered
office or of the principal place of
business in |
F- 9, 2nd Floor, Kailash Colony, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of charge
holder |
HDFC Bank, HDFC Bank House, Senapati Bapat Marg, Lower Parel, (West),
Mumbai- 400013, Maharashtra, India. |
|
Nature of
instrument creating charge |
Memorandum
recording past transactions of creation of mortgage by delivery of title
deeds. |
|
Date of
instrument Creating the charge |
08.09.2009 |
|
Amount secured by
the charge |
Rs.35.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest at the rate
as may be communicated by the Bank from time to time. Terms of Repayment : Working Capital
shall be repayable on Demand. Margin: As may be
stipulated by the Bank from time to time. Extent and Operation of the charge: The company accorded
and gave oral consent to Bank to continue to hold and retain the title deeds
(by way of constructive delivery) in respect of its immovable properties as
mentioned under item no. 15 below, as security for repayment of Rs. 35.000
Millions by the company, together with principal, interest, liquidated
damages, costs, charges and expenses. Others : Nil |
|
Short Particulars
of the property charged |
Industrial
Property at C-27 and 28, Site C, Surajpur, UPSIDC Industrial Area, Greater Noida,
Uttar Pradesh. |
|
Particulars of
the present modification |
The Equitable
mortgage/ charge now stands increased from Rs. 25.000 Millions to Rs. 35.000
Millions (Comprising: cash credit of Rs. 30.000 Millions, LC of Rs. 30.000 Millions
as sub- limit and Bank guarantee of Rs. 5.000 Millions) in favour of the
Bank. |
Fixed Assets :
- Building
- Electric
Fitting
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipment
- Computer
- Computer
Printer
- Cars
- Scooter
- Cycle
- Books
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.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.