|
Report Date : |
13.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
STIC ON PAPERS PRIVATE LIMITED |
|
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Registered Office : |
Plot No. 178 C and 178 D, IDA Mallapur, Nacharam, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
30.08.1999 |
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Com. Reg. No.: |
01-32393 |
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Capital
Investment / Paid-up Capital : |
Rs.10.118 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U21020AP1999PTC032393 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDS05976F |
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|
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PAN No.: [Permanent
Account No.] |
AAFCS1039P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Self Adhesive Label Stock, Silicon Coated Release
Liners etc |
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|
|
No. of Employees
: |
30 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 88000 |
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Status : |
Satisfactory |
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Payment Behavior : |
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 for small 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 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Satish Babu |
|
Designation : |
Account Department |
|
Contact No.: |
91-40-27178987 |
|
Date : |
12.04.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 178 C and 178 D, IDA Mallapur, Nacharam, |
|
Tel. No.: |
91-40-27178987 |
|
Mobile No.: |
91-9849018113 (Mr. K Karan Reddy) |
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Fax No.: |
91-40-27175420 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
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|
|
|
Regional Office : |
12-13-707, Keemti Colony, Taranaka, Secunderabad – 500 017, |
|
Tel. No.: |
91-40-27151776/ 27151778 |
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Fax No.: |
91-40-27173349 |
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Area : |
40000 Sq. ft. – Constructed Area (12000 Sq. ft. Factory and 2000 Sq.
ft. Office) |
|
Location : |
Owned |
|
|
|
|
Representative Office : |
Located at ·
Delhi ·
Mumbai ·
Chennai |
|
|
|
|
Branch Office : |
81, Phase 3, Sri Venkateswara Co-op Industrial Estate,
Hyderabad-500037, |
DIRECTORS
As on 30.07.2011
|
Name : |
Mr. Kotha Karan Reddy |
|
Designation : |
Managing Director |
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Address : |
12-13-707, Keemthi Colony, Taranaka, |
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Date of Birth/Age : |
04.04.1969 |
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Qualification : |
Engineer |
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Date of Appointment : |
30.08.1999 |
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DIN No.: |
01232560 |
|
|
|
|
Name : |
Mrs. Kotha Hima Shaila |
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Designation : |
Director |
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Address : |
12-13-707, Keemthi Colony, Taranaka, |
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Date of Birth/Age : |
03.12.1975 |
|
Qualification : |
Post Graduate |
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Date of Appointment : |
28.08.2001 |
|
DIN No.: |
00679329 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Babu |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.07.2011
|
Name of Shareholder |
No of shares |
|
K Karan Reddy |
379000 |
|
K Hima Shaila |
512300 |
|
B Hima Bindu |
105500 |
|
B Sridhar |
15000 |
|
Total |
1011800 |
List of Allottees
As on 19.03.2012
|
Name of Allottees |
No of
shares Allotted + |
|
K Karan Reddy |
68700 |
|
K Hima Shaila |
181300 |
|
Total |
250000 |
As on 30.07.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage of Holding |
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Self Adhesive Label Stock, Silicon Coated Release
Liners etc |
|
|
|
|
Products : |
Label Stock |
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Exports : |
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Products: |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
·
Singapore ·
China |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||
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No. of Employees : |
30 (Approximately) (In Office + In Factory) |
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||||||||||||||||||||||||||||||||||||
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Bankers : |
·
Corporation Bank, Tarnaka Branch, Secunderabad, ·
State Bank of ·
HSBC Bank, Banjara Hills ·
Vijaya Bank ·
State Bank of |
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Facilities : |
Cash Credit : Rs.25.000 Millions (From HSBC Bank) Letter on Credit : Rs.25.000 Millions (From HSBC Bank)
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Rajesh Lakshman and Associates Chartered Accountants |
|
Address : |
# 5-9-191, 302, 3rd Floor, Brindavan Commercial Comp, |
|
Tel. No.: |
91-40-66666450/ 40177776 |
|
Mobile No.: |
91-9866666529/ 9849861047 |
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E mail: |
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PAN No.: |
AADFR0763L |
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Sister Concern : |
Excell Marketing |
CAPITAL STRUCTURE
After 30.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Shares |
Rs.10/- each |
Rs.11.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1261800 |
Equity Shares |
Rs.10/- each |
Rs.12.618
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Shares |
Rs.10/- each |
Rs.11.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1011800 |
Equity Shares |
Rs.10/- each |
Rs.10.118
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.118 |
10.118 |
10.118 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.887 |
7.142 |
4.672 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
22.005 |
17.260 |
14.790 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
22.959 |
19.400 |
17.964 |
|
|
2] Unsecured Loans |
1.000 |
1.454 |
1.838 |
|
|
TOTAL BORROWING |
23.959 |
20.854 |
19.802 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
45.964 |
38.114 |
34.592 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.487 |
20.240 |
23.110 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
29.068
|
15.732
|
14.253 |
|
|
Sundry Debtors |
10.719
|
9.283
|
8.486 |
|
|
Cash & Bank Balances |
0.964
|
1.020
|
1.063 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
9.538
|
6.125
|
4.188 |
|
Total
Current Assets |
50.289
|
32.160
|
27.990 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.828
|
5.363
|
10.555 |
|
|
Other Current Liabilities |
10.446
|
6.976
|
5.256 |
|
|
Provisions |
3.542
|
1.953
|
0.705 |
|
Total
Current Liabilities |
24.816
|
14.292
|
16.516 |
|
|
Net Current Assets |
25.473
|
17.868
|
11.474 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.004 |
0.006 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
45.964 |
38.114 |
34.592 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
129.598 |
83.710 |
63.076 |
|
|
|
Other Income |
1.456 |
0.295 |
0.893 |
|
|
|
TOTAL (A) |
131.054 |
84.005 |
63.969 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
86.130 |
54.575 |
40.460 |
|
|
|
Manufacturing Expenses |
21.585 |
13.080 |
11.639 |
|
|
|
Administrative Expenses |
6.746 |
4.612 |
3.524 |
|
|
|
Loss on |
0.000 |
0.030 |
0.000 |
|
|
|
Directors Remuneration |
3.600 |
2.400 |
0.630 |
|
|
|
Preliminary Expenses written off |
0.000 |
0.000 |
0.019 |
|
|
|
Deferred Revenue Expenses Written off |
0.002 |
0.002 |
0.000 |
|
|
|
TOTAL (B) |
118.063 |
74.699 |
56.272 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.991 |
9.306 |
7.697 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.327 |
2.976 |
3.355 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.664 |
6.330 |
4.342 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.146 |
2.581 |
2.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
7.518 |
3.749 |
1.352 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.772 |
1.280 |
0.158 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
4.746 |
2.469 |
1.194 |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
0.368 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.69 |
2.44 |
1.18 |
|
Expected Sales (2011-2012) : Rs.150.000 Millions
The above information has been parted by Mr. Satish Babu.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.62 |
2.94 |
1.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.80 |
4.48 |
2.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.62 |
7.15 |
2.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.22 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.22 |
2.04 |
2.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
2.25 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
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 |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
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 (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
Operating Results:
The company during the financial year ended 31st
March 2011 has achieved a turnover of Rs. 129.252 Millions as against a
turnover of Rs. 83.355 Millions achieved during the previous financial year and
earned a Net Profit After Tax of Rs. 4.745 Millions as against a Net Profit of
Rs. 2.469 Millions earned in the previous corresponding period. The low profit
margin in spite of good turnover is on account of high cost of raw materials,
stiff competition and also increased overheads. The company is trying its best
to reduce the cost and earn higher profit during this fiscal.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U21020AP1999PTC032393 |
|
Name of the
company |
STIC-ON PAPERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 178 C and 178 D, IDA Mallapur, Nacharam, E-mail : sticon@rediffmail.com
|
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
10037829 |
|
Type of charge |
· Immovable Property · Book debts · Movable Property |
|
Particular of
charge holder |
State Bank of Hyderabad, Kushaiguda Branch, E C I L Post, Hyderabad –
500 062, Andhra Pradesh, India E-Mail: kushaiguda@sbhyd.com |
|
Nature of
instrument creating charge |
I.
Agreement
of Loan-cum hypothecation II.
Letter
of Arrangement III.
Extension
of Mortgage by Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
21.07.2011 |
|
Amount secured by
the charge |
Rs.69.600
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Working
Capital: 15.50% p.a Term Loan: 16.00%
p.a Terms of
Repayment Working Capital:
Repayable on demand Margin a. Fund Based
Limits i. Raw Materials
imported & indigenous : 25% ii. Semi-Finished
Goods: 25% iii. Finished
Goods: 25% iv. Receivables:
50% v. Letter of
Credit: 25% vi. Consumables
and Spares: 25% b. Non Fund based
limits : letter of Credit: 25% Extent and
Operation of the charge The charge shall
remain in force until entire loan amount secured is repaid. |
|
Short particulars
of the property charged |
Primary Security:
i. Working
capital: First charge on all current
assets ( existing and future) ii. Term Loan:
First charge of all fixed assets, including land and building and plant and
machinery (Land and Building at Plot No. 178 C and D, IDA, Mallapur,
Hyderabad standing in the name of the company) Collateral
Security: Extension of charge on current assets for Term Loan and fixed assets
for working capital limits. |
|
Date of
instrument modifying the charge |
24.12.2010 |
|
Particulars of
the present modification |
he limits has
been modified and revised limits to Rs. 69.600 Millions as under: FUND BASED: Cash Credit - Rs.
25.000 Millions ( Enhanced) IUBD - Rs. 4.000 Millions ( Existing) SME Credit Plus - Rs.
2.500 Millions ( Existing) Term Loan 1 - Rs. 10.700 Millions ( Existing) Term Loan 2 - Rs
2.400 Millions ( Existing) NON FUND BASED Letter of
Credit - Rs 25.000 Millions (Enhanced) |
Fixed Assets:
·
Land
·
Building
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
EDP Equipments
·
Vehicles
WEBSITE DETAILS:
PROFILE:
Subject is committed to develop better
products for better value.
The
company has developed and can develop customized solutions for the label and
packaging industries.
Subject operates effectively within today’s increasingly
“globalize” world of business. With sales offices and dealer network located in
major market centre, they always provide relevant solutions to our customer’s
challenges.
Realise
the advantages and discover how subject products can help the distinguish the
brand.
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.51.44 |
|
|
1 |
Rs.81.96 |
|
Euro |
1 |
Rs.67.61 |
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 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.