MIRA
INFORM REPORT
|
Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUNSHINE ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
157/61, Zaveri Bazar, 2nd Floor, Mumbai – 400002, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
28.09.1988 |
|
|
|
|
Com. Reg. No.: |
11-048981 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1988PTC048981 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS36939A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS0699E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Bulk Drugs, Formulations etc. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 133800 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The Company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Rajesh Shah |
|
Designation : |
Director |
|
Contact No.: |
91-22-66372777 |
|
Date : |
26.09.2011 |
|
|
|
|
Name : |
Mr. Sanjay Solanki |
|
Designation : |
Director |
|
Contact No.: |
91-22-22001737 |
|
Date : |
26.09.2011 |
LOCATIONS
|
Registered Office : |
157/61, Zaveri Bazar, 2nd Floor, Mumbai – 400002, |
|
Tel No.: |
91-22-22001737 / 22008209 |
|
Fax No.: |
91-22-66385340 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq ft |
|
Location : |
Owned |
|
|
|
|
Correspondence Address : |
403/B, Dalamal Chambers, New Marine Line, Mumbai 400020, |
|
Tel. No.: |
91-22-22008209 / 66372777 |
|
Fax No.: |
91-22-66385340 |
|
|
|
|
Factory 1 : |
N-78, M.I.D.C, Tarapur, Boisar, District Thane, Maharashtra, India |
|
Tel. No.: |
91-2525-324989 |
|
Fax No.: |
91-2525-270053 |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Dharmesh Mahendra Shah |
|
Designation : |
Director |
|
Address : |
2301-A Sterling Tower, Harishchandra Goregaonka, Gamdevi – Mumbai
40007, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1966 |
|
Date of Appointment : |
15.11.1988 |
|
DIN No.: |
00452961 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1988PTC048981 |
Sunshine
Organics Private Limited |
Director |
15-11-88 |
15-11-88 |
Active |
NO |
|
2 |
U24230GJ1994PTC021189 |
Virdev
Intermediates Private Limited |
Director |
12-11-00 |
12-11-00 |
Active |
NO |
|
3 |
U51397MH2002PTC136753 |
Bini
Chemicals And Pharmaceuticals International Private Limited |
Director |
07-08-02 |
07-08-02 |
Active |
NO |
|
4 |
U24230MH2002PTC137329 |
BDR
Pharmaceuticals International Private Limited |
Director |
24-09-02 |
24-09-02 |
Active |
NO |
|
5 |
U24234MH1993PLC072947 |
Lyka
BDR International Limited |
Director |
17-10-03 |
17-10-03 |
Active |
NO |
|
6 |
U24230MH2003PTC143625 |
Innova
Life Sciences Private Limited |
Director |
23-12-03 |
23-12-03 |
Active |
NO |
|
7 |
U24230GJ1993PTC020258 |
BDR
Lifesciences Private Limited |
Director |
14-04-05 |
14-04-05 |
Active |
NO |
|
8 |
U24239MH2006PTC164688 |
BK
Life Sciences Private Limited |
Director |
18-09-06 |
18-09-06 |
Active |
NO |
|
Name : |
Mr. Sanjay Amritlal Solanki |
|
Designation : |
Director |
|
Address : |
1301 Shripal Nagar, Nepansea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1965 |
|
Date of Appointment : |
15.11.1988 |
|
DIN No.: |
01838642 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1988PTC048981 |
Sunshine
Organics Private Limited |
Director |
15-11-88 |
15-11-88 |
Active |
NO |
|
2 |
U24230GJ1994PTC021189 |
Virdev
Intermediates Private Limited |
Director |
12-11-00 |
12-11-00 |
Active |
NO |
|
3 |
U17200MH1988PTC047726 |
Peekay
Synthetics Private Limited |
Director |
26-12-01 |
26-12-01 |
Active |
NO |
|
4 |
U24230GJ1993PTC020258 |
BDR
Lifesciences Private Limited |
Director |
12-12-09 |
12-12-09 |
Active |
NO |
|
Name : |
Mr. Kamlesh Amaritlal Solanki |
|
Designation : |
Director |
|
Address : |
1301 Shripal Nagar, Nepansea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1972 |
|
Date of Appointment : |
24.01.2003 |
|
DIN No.: |
00613717 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U17200MH1988PTC047726 |
Peekay
Synthetics Private Limited |
Director |
01-05-98 |
01-05-98 |
Active |
NO |
|
2 |
U24110MH1988PTC048981 |
Sunshine
Organics Private Limited |
Director |
24-01-03 |
24-01-03 |
Active |
NO |
|
Name : |
Mr. Amritlal Bhabumalji Solanki |
|
Designation : |
Director |
|
Address : |
1301 Shripal Nagar, Nepansea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1942 |
|
Date of Appointment : |
24.01.2003 |
|
DIN No.: |
00613743 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U17200MH1988PTC047726 |
Peekay
Synthetics Private Limited |
Director |
01-05-98 |
01-05-98 |
Active |
NO |
|
2 |
U24110MH1988PTC048981 |
Sunshine
Organics Private Limited |
Director |
24-01-03 |
24-01-03 |
Active |
NO |
|
Name : |
Mr. Rajesh Sumanlal Shah |
|
Designation : |
Director |
|
Address : |
173, Jolly Makers, Cuff Parade, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1961 |
|
Date of Appointment : |
15.11.1988 |
|
|
|
|
Name : |
Mr. Bharat Chabildas Shah |
|
Designation : |
Director |
|
Address : |
57, surya Kiran, 551, Pan Gully, August Kranti Marg, Mumbai-400036,
Maharashtra, India |
|
Date of Birth/Age : |
07.04.1942 |
|
Date of Appointment : |
15.11.1988 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Sanjay Amrital Solanki |
1500 |
|
Dharmesh Mahendra Shah |
570 |
|
Kamlesh Amnital Solanki |
250 |
|
Kalpana Navinchandra Shah |
130 |
|
Sonal Prakesh Shah |
250 |
|
Smita Suresh Shah |
500 |
|
Sonal Bharat Shah |
100 |
|
Jayshree Vijay Shah |
300 |
|
Sharmishta Mahendra Shah |
250 |
|
Indumati Sumanial Shah |
70 |
|
Bharat Chhabildas shah |
500 |
|
Navinchandra Chhabidas |
100 |
|
Navinchandra Chhabidas |
350 |
|
Suresh Chhabidas Shah |
350 |
|
Vijay Shah |
530 |
|
Rajesh shah |
280 |
|
Sumanial Shah |
490 |
|
Amrital Bhabhutmal |
400 |
|
Renu Sanjay |
500 |
|
Jaya Kamlesh |
300 |
|
Amrital Bhabhutmal |
900 |
|
Amrital Bhabhutmal |
350 |
|
Kamlesh Amrital |
500 |
|
Amrittal Bhabhutmal |
300 |
|
Bhavesh Bharat Shah |
230 |
|
Total |
10000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Bulk Drugs, Formulations. |
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Products : |
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Terms : |
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|
Selling : |
Cash, Credit |
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|
Purchasing : |
Cash, Credit |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Metallic Sterates |
MT Per Annum |
-- |
1000 |
826735.00 |
|
Plperzine Saits |
MT Per Annum |
-- |
150 |
19950.00 |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
OEM’s |
|||||||||||||||||||||||||||||||||
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No. of Employees : |
30 (Approximately) |
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Bankers : |
·
Bank Of |
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|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. J. Shah and Company Chartered Accountant |
|
Address : |
1st Floor, Hira Niwas
46, Mody Street, Fort, Mumbai – 400001, |
|
Tel. No.: |
91-22-40966263 |
|
Fax No.: |
91-22-22665955 |
|
E-Mail : |
|
|
|
|
|
Sister Concern : |
Mepro Pharma Address: 108/109, Dalamal Chamber, New Marine Line, Mumbai-400020,
Maharashtra, India Tel No.: 91-22-66372777 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/-
each |
Rs. 1.000
Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
36.238 |
32.451 |
28.969 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
37.238 |
33.451 |
29.969 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.256 |
2.319 |
0.946 |
|
|
2] Unsecured Loans |
6.208 |
8.824 |
7.732 |
|
|
TOTAL BORROWING |
9.464 |
11.144 |
8.678 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.844 |
|
|
|
|
|
|
|
|
TOTAL |
46.702 |
44.595 |
39.491 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.659 |
7.151 |
7.049 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.436 |
0.437 |
0.434 |
|
|
DEFERREX TAX ASSETS |
0.026 |
0.052 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.241
|
8.894
|
12.862 |
|
|
Sundry Debtors |
21.374
|
23.565
|
48.610 |
|
|
Cash & Bank Balances |
0.241
|
0.811
|
0.637 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
40.602
|
35.517
|
39.635 |
|
Total
Current Assets |
75.458
|
68.787 |
101.744 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.964
|
26.579
|
58.720 |
|
|
Other Current Liabilities |
0.528
|
0.239
|
0.332 |
|
|
Provisions |
5.385
|
5.014
|
10.684 |
|
Total
Current Liabilities |
36.877
|
31.832 |
69.736 |
|
|
Net Current Assets |
38.581
|
36.955
|
32.008 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
46.702 |
44.595 |
39.491 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
84.716 |
74.976 |
182.208 |
|
|
|
Other Income |
6.737 |
4.724 |
6.274 |
|
|
|
TOTAL (A) |
91.453 |
79.700 |
188.482 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
61.389 |
52.670 |
161.168 |
|
|
|
Administrative Expenses |
5.642 |
4.130 |
6.527 |
|
|
|
Manufacturing Expenses |
15.507 |
14.224 |
10.172 |
|
|
|
Packing Material Consumed |
0.969 |
0.840 |
0.923 |
|
|
|
Increase/ Decrease in Stock |
(0.837) |
0.074 |
1.536 |
|
|
|
TOTAL (B) |
82.670 |
71.938 |
180.326 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.783 |
7.762 |
8.156 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.502 |
0.890 |
1.438 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.281 |
6.872 |
6.718 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.913 |
0.864 |
0.829 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.368 |
6.008 |
5.886 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.336 |
1.101 |
1.986 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
5.032 |
4.907 |
3.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
26.842 |
23.359 |
22.542 |
|
|
|
|
|
|
|
|
|
Add / less |
EXCESS
/ (SHORT) PROVISION OF TAX FOR EARLIER YEAR |
0.080 |
0.255 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.503 |
0.000 |
0.800 |
|
|
|
Dividend |
1.000 |
1.000 |
2.000 |
|
|
|
Tax on Dividend |
0.166 |
0.169 |
0.283 |
|
|
BALANCE CARRIED
TO THE B/S |
30.125 |
26.842 |
23.359 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2.511 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
2.511 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
503 |
490.7 |
390 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.50
|
6.16
|
2.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.70
|
8.01
|
3.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.86
|
7.91
|
5.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.18
|
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.24
|
1.28
|
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
2.16
|
1.45 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2010
|
31.03.2009
|
31.03.2008 |
|
Sundry Creditors
|
|
|
|
|
Sundry Creditors For Goods |
28.473
|
23.880
|
56.804 |
|
Sundry Creditors For Expenses |
2.490
|
2.594
|
1.701 |
|
Sundry Creditors For Capital Expenditures |
0.001
|
0.105
|
0.215 |
|
Total |
30.964
|
26.579
|
58.720 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
----- |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
No |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
No |
|
21. Market information |
----- |
|
22. Litigations that the firm / promoter involved |
----- |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
----- |
|
26. Buyer visit details |
----- |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
---- |
|
29. Last accounts filed at ROC |
---- |
|
30. Major Shareholders, if available |
---- |
Note:
Registered Office of the company has been shifted from 45/47 Mirza Street, 1st Floor, Kalbadevi
Road, Mumbai-400002, Maharashtra, India to the present address w.e.f.25.05.2008
FINANCIAL RESULTS:
The Company has made a profit of Rs. 7.368 Millions (previous year
Profit Rs. 6.008 Millions) during the year after providing Rs. 0.913 millions
for Depreciation and the same has been carried forward to the Balance Sheet.
FORM 8
|
Corporate
identity number of the company |
U24110MH1988PTC048981 |
|
Name of the
company |
SUNSHINE ORGANICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
45/47 Mirza
Street, 1st Floor, Kalbadevi Road,
Mumbai-400002 Maharashtra,
India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts |
|
Particular of
charge holder |
Bank Of |
|
Nature of
instrument creating charge |
Charge And
Hypothecation Of Book Debts |
|
Date of instrument
Creating the charge |
23.02.2007 |
|
Amount secured by
the charge |
Rs. 5.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at the rate
of 0.50% over bank rate with a minimum of 13.00% p. A. or at such rate as may
from time to time be fixed by the bank and notified to the borrower. Terms of repayment On Demand Margin As Per Sanction
Terms Extent and operation of the charge To secure the
cash credit (hypothecation of book debts) limit of Rs.5.000 millions granted
by the bank to the company. |
|
Short particulars
of the property charged (Including location of the property) |
The borrower hypothecate
and charge to the bank by way of charge all the book debts out standings,
moneys receivable, claims and bills which are now due and owing or which may
at any time hereafter during the continuance of this security become due and
owing to the borrower in the course of its business by any person company or
by the government or any local or public body or authority. |
FIXED ASSETS:
·
Air Conditioner
·
Computer
·
Electrical Fitting
·
Factory Building
·
Laboratories Equipments
·
Land
·
Land – Plot No 77
·
Mobile Phone
·
Office Equipment
·
Office Premises
·
Plant and Machinery
·
Scooter
·
Vehicles
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. 49.17 |
|
|
1 |
Rs. 76.65 |
|
Euro |
1 |
Rs. 66.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.