MIRA
INFORM REPORT
|
Report Date : |
20.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
DSM SINOCHEM PHARMACEUTICALS INDIA PRIVATE LIMITED |
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|
|
|
Formerly Known
As : |
DSM ANTI INFECTIVES INDIA LIMITED |
|
|
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|
Registered
Office : |
Bhai Mohan Singh Nagar, Toansa, Tehsil Balachaur, District Nawanshahr,
Ludhiana – 144533, Punjab |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
19.01.1993 |
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Com. Reg. No.: |
18-023090 |
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Capital
Investment / Paid-up Capital : |
Rs. 1603.007
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U24231PB1999PLC023090 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDD01636F |
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PAN No.: [Permanent Account No.] |
AABCM4314K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Bulk Drugs Intermediates. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5100000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. However, trade relation are
reported to be fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some caution. Note: DSM Anti Infectives India Private Limited is Joint Venture
between DSM and Sinochem |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Factory : |
Bhai Mohan Singh Nagar, Toansa, Tehsil Balachaur, District Nawanshahr,
Ludhiana – 144533, Punjab, India |
|
Tel. No.: |
91-1881-509650 |
|
Fax No.: |
91-1881-509890 |
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E-Mail : |
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Website : |
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Corporate Office : |
9th Floor Tower A, Infinity Towers, DLF Phase II Gurgaon – 122002,
Haryana, India |
DIRECTORS
AS ON 22.09.2011
|
Name : |
Mr. Michael Gam Ten Haaf |
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|
Designation : |
Director |
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|
Address : |
A 9/10, 2nd Floor, Vasant Vihar, New Delhi – 110057, India |
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Date of Birth/Age : |
31.03.1976 |
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Date of Appointment : |
02.05.2011 |
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DIN No.: |
03566523 |
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Other Directorship: |
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Name : |
Mr. Robert Alexander Kiemeneij |
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Designation : |
Director |
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Address : |
Maastright Maconlaan 6, Maastright, The Netherlands 999999 |
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Date of Birth/Age : |
17.12.1961 |
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Date of Appointment : |
01.06.2006 |
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DIN No.: |
01243826 |
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Other Directorship: |
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Name : |
Mr. Bharath Ramraman Sesha |
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|
Designation : |
Whole-time director |
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|
Address : |
Apartment No. 1004, Block B2, Uniworld, City South CityI, Gurgaon –
122002, Haryana, India |
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Date of Birth/Age : |
18.05.1972 |
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Date of Appointment : |
16.11s2009 |
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DIN No.: |
01983066 |
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Other Directorship: |
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KEY EXECUTIVES
|
Name : |
Ms. Komal Gupta |
|
Designation : |
Secretary |
|
Address : |
F 102, Bestech Park View City II, Sohna Road, Near Omaxe Mall, Gurgaon
– 122001, Haryana, India |
|
Date of Birth/Age : |
25.03.1983 |
|
Date of Appointment : |
30.04.2010 |
|
PAN No.: |
BHAPS5283H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Gist Brocades International, B.V, Netherlands |
|
160,300,676 |
|
Deepak Chander |
|
5 |
|
Arun Mehra |
|
2 |
|
Rajesh Salwan |
|
2 |
|
Aanchal Singh |
|
2 |
|
Bharath Sesha |
|
5 |
|
Michael ten Haaf |
|
4 |
|
Total |
|
160,300,696 |
AS ON 22.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Drugs Intermediates. |
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Products : |
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PRODUCTION STATUS AS ON (31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Intermediates |
MT |
N.A. |
2,160 |
608.96 |
|
Bulk Drugs |
MT |
|
4,080 |
3,990.10 |
Notes: -
1. Installed capacity,
being a technical matter, has been certified by the management and accepted by
the Auditors. Installed capacities are as on 31st March, 11.
2. Actual
production includes 558.00 MTs (Previous year 925.94 MTs) of Intermediates used
for captive consumption.
3. Production
includes job work production of 14.44 MTs (Previous year Nil) of bulk drugs and
15.48 MTs of intermediate (Previous year 231.14 MTs). Out of 15.48 MTs of
intermediates 15.48 MTs were captively consumed.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
Hindustan Times Building, 18-20 Kasturba Gandhi Marg, 6TH Floor, New
Delhi- 110001, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
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Holding Company : |
Gist Brocades International B.V., Netherlands |
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Ultimate Holding Company: |
D S M Anti-Infectives B.V. , The Netherlands (DAI, B.V.) |
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Enterprises
which are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
·
DSM Deretil S.A., Spain ·
Zhangjiakou Gist-Brocades Pharmaceuticals Company
Limited, China (ZGB, China) ·
DSM Trading (Shanghai) Company Limited ·
XINHUA Chemferm ·
DSM NV Concern, The Netherlands (DSM NV) ·
DSM Finance ·
DSM Food Specialties Products ·
DSM Nutritional Products, The Netherlands ·
DSM Nutritional Products ·
DSM Anti-Infectives, Egypt (DAI Egypt) S. A.E. ·
DSM Anti – Infectives, Egypt L.L.C. ·
Zhangjiakou DHA Pharmaceutical Company Limited ·
DSM Expert ·
DSM Chemferm ·
DSM ZIBO Pharmaceuticals Company Limited ·
DSM Sourcing BV ·
DSM Composite Resins AG ·
DSM Neoresins BV ·
DSM Pharmaceutical Products INC. ·
DSM New Business Development BV ·
ZJK DSM Hayao Pharma ·
DSM Composite Research ·
DSM Venturing BV ·
Fersinsa GB, S.A. ·
DSM International Human Resources Services ·
DSM Engineering Plastics ·
DSM Innovation Center ·
DSM Business Support B.V. ·
DSM (China) Limited ·
DSM Nutritional Products, USA ·
DSM IT B.V. ·
DSM Services USA Inc. ·
DSM Desotech ·
Zhang Jia Kou GB Pharm Company Limited ·
DSM Anti Infectives China Holding BV |
|
|
|
|
Joint venture : |
·
Hindustan Max-Gb Limited CIN No.:U24232PN1995PLC017954 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1700.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160,300,696 |
Equity Shares |
Rs. 10/- each |
Rs. 1603.007
Millions |
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|
|
|
|
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 |
1603.010 |
1562.670 |
1562.670 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
299.430 |
48.790 |
814.490 |
|
|
4] (Accumulated Losses) |
(603.020) |
(345.660) |
(1027.867) |
|
|
NETWORTH |
1299.420 |
1265.800 |
1349.310 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1203.520 |
1537.770 |
2056.940 |
|
|
TOTAL BORROWING |
1203.520 |
1537.770 |
2056.940 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2502.940 |
2803.570 |
3406.250 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1190.390 |
1275.550 |
806.990 |
|
|
Capital work-in-progress |
5.530 |
7.090 |
142.450 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1082.310
|
823.890 |
1010.320 |
|
|
Sundry Debtors |
2208.920
|
1471.850 |
2063.900 |
|
|
Cash & Bank Balances |
335.140
|
124.010 |
343.840 |
|
|
Other Current Assets |
24.710
|
10.120 |
0.000 |
|
|
Loans & Advances |
402.840
|
537.310 |
626.720 |
|
Total
Current Assets |
4053.920
|
2967.180 |
4044.780 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2627.280
|
1350.550 |
1500.400 |
|
|
Other Current Liabilities |
98.760
|
75.960 |
53.340 |
|
|
Provisions |
20.860
|
19.740 |
34.230 |
|
Total
Current Liabilities |
2746.900
|
1446.250 |
1587.970 |
|
|
Net Current Assets |
1307.020
|
1520.930 |
2456.810 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2502.940 |
2803.570 |
3406.250 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8624.080 |
6089.860 |
8418.110 |
|
|
|
Other Income |
104.320 |
106.090 |
124.470 |
|
|
|
TOTAL (A) |
8728.400 |
6195.950 |
8542.580 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
7378.920 |
5171.370 |
|
|
|
|
Employee related expenses |
301.520 |
278.890 |
|
|
|
|
Administrative selling other expenses |
1038.820 |
840.130 |
|
|
|
|
TOTAL (B) |
8719.260 |
6290.390 |
8511.440 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.140 |
(94.440) |
31.140 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
96.730 |
130.410 |
177.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(87.590) |
(224.850) |
(146.570) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
133.720 |
120.080 |
112.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
(221.310) |
(344.930) |
(259.300) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
36.050 |
0.730 |
18.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX (G-H) (I) |
(257.360) |
(345.660) |
(277.430) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(345.660) |
(1027.850) |
(750.420) |
|
|
|
|
|
|
|
|
|
Less |
Amount
transferred to Business Reconstruction Reserve |
0.000 |
1027.850 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(603.020) |
(345.660) |
(1027.850) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at FOB Value |
2977.840 |
2077.670 |
3867.780 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3919.940 |
2774.170 |
3506.800 |
|
|
|
Traded Goods |
485.690 |
397.310 |
437.790 |
|
|
|
Stores and Spare parts |
3.260 |
2.290 |
1.460 |
|
|
|
Capital Items |
0.520 |
14.510 |
6.410 |
|
|
|
Material In Transit |
214.380 |
96.800 |
139.490 |
|
|
TOTAL IMPORTS |
4623.790 |
3285.080 |
4091.950 |
|
|
|
|
|
|
|
|
|
|
Earnings/ Loss
Per Share (Rs.) |
(1.63) |
(2.21) |
(1.78) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(2.95) |
(5.58) |
(3.25) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.57) |
(5.66) |
(3.08) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.22) |
(8.13) |
(5.34) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17) |
(0.27) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.04 |
2.36 |
2.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
2.05 |
2.55 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: In 2010 DSM reached agreement with SINOCHEM Group
to form A 50/50 global joint venture for DSM ANTI INFECTIVES with effect from
01.01.2011
A formal announcement on the launch of this
joint venture, named DSM SINOCHEM PHARMACUTICALS, was made on 31.08.2011. Due
to the recent Joint Venture the latest Director’s details are not available in
the government registry. Also, the management has declined to part any details.
NATURE OF OPERATIONS :
DSM Anti-
Infectives India Limited (DAI) or ‘the company’ was established on February 4,
1993 as a Joint Venture between Gist Brocades NV, The Netherlands and Max India
Limited. During the year 2002-03, it became a wholly owned subsidiary of Gist
Brocades International B.V., Netherlands pursuant to exit of Max India Ltd.
from the Joint Venture.
Company carries out
the activities of production, purchase and sale of bulk drugs, which forms part
of the operations under the Life Sciences cluster of the DSM Group.
CONTINGENT
LIABILITY
(a) The Company
has estimated Contingent Liabilities in respect of show-cause notices/demands
received from Government Authorities and others in respect of the following:
(i) Excise Duty
demands Rs.8.19 (previous year Rs. 20.91) in relation to cenvat credit of
excise duty paid on Job work
(ii) Service tax
demand of Rs.49.40 (previous year 22.29) in relation to credit of service tax
paid under reverse charge mechanism and penalty pertaining thereto.
Based on legal
opinions taken by the Company/favorable decisions in similar cases /
discussions with the advocates etc., the Company believes that it has good
cases in respect of all the items listed above and hence no provision there
against is considered necessary.
FIXED ASSETS:
·
Freehold land
·
Buildings
·
Plant and Machinery
·
Furniture and Fittings
·
Leasehold Improvements
·
Vehicles
PRESS RELEASE
DSM and Sinochem Group establish global anti-infectives
joint venture
Heerlen, NL, 31 August 2011
Royal DSM, the global Life Sciences and Materials Sciences
company, announces today that it has established the 50/50 global joint venture
for its business group DSM Anti-Infectives with Sinochem Group. All applicable
regulatory approvals and customary clearances from competition authorities have
been received. The agreement to form the joint venture was announced in
December 2010.
As part of the agreement to form the joint venture, Sinochem
Group has taken a 50% equity interest in the business group for a total cash
consideration of € 210 million on a cash and debt-free basis with 1 January
2011 as effective date. Sinochem Group and DSM share on a 50/50 basis the cash
in- and outflow of DSM Anti-Infectives as from that date. On balance DSM will
report a book profit of approximately € 45 million after tax as a result of
this transaction in Q3 2011 as an exceptional item.
The joint venture will be headquartered in Hong Kong.
Current DSM Anti-Infectives employees, in total around 2,000 people globally,
are part of the new group, to be named DSM Sinochem Pharmaceuticals Limited.
The joint venture includes all of the current DSM Anti-Infectives activities
across the world.
Stefan Doboczky, Member of the Managing Board of Royal DSM,
and CEO of DSM Sinochem Pharmaceuticals commented: “The establishment of this
joint venture with Sinochem is fully in line with DSM’s stated strategy for its
Pharma cluster: creating value via partnerships, but also further strengthens
DSM’s position in China. The combination of DSM's strong global market position
in anti-infectives and Sinochem's significant global market capability,
presents exciting future growth opportunities through combined technologies and
access to customers, especially in the fast growing Asian economies.”
Mr. Pan Zhengyi, Vice President of Sinochem Group said: “The
establishment of DSM Sinochem Pharmaceuticals Limited will accelerate the
application of its innovative biotechnology knowledge to improve and transform
its business, so as to consolidate and enhance its global leading position in
the field of anti-infectives. At the same time, we are confident that this is a
very positive step for Sinochem and DSM in their respective ambition to apply
biotechnology broadly, to help the advancement of human health with
environmentally sustainable processes.”
Both companies are convinced that together they will be
better able to grow top and bottom line by capturing the growth opportunities
in China and other high growth economies, combining DSM’s proprietary
technology position and global production footprint and Sinochem’s strong
position in its core businesses together with its global growth ambition in the
bio-industry.
Organization and management
The present global DSM Anti-Infectives organization and
management will form the backbone of DSM Sinochem Pharmaceuticals’ organization
and management. The customer oriented structure of DSM Anti-Infectives with
full service units in Latin America, Europe, Egypt, India and China will be the
base of servicing the DSM Sinochem Pharmaceuticals customers. The board of DSM
Sinochem Pharmaceuticals shall have six members of whom three will be appointed
by DSM and three by Sinochem.
Sinochem Group
Incorporated in 1950, Sinochem Group is one of China’s biggest central
state-owned enterprises. Sinochem has five business segments including
agricultural, energy, chemical (including pharmaceutical distribution), real
estate and finance. Sinochem has more than 200 subsidiaries and branches both
in China and abroad, among which there are six listed companies, namely
Sinochem International (SSE, 600500), Intmedic (SZE,000411), SinoFert (HKEX,
00297), Franshion Properties (HKEX, 00817) ，GMG（SGS，51M） and Far East Horizon (HKEX,3360). More than
40,000 employees emulate Sinochem’s spirit of exploration and innovation, adopt
the mindset of “Creating Value, Pursuing Excellence” and try their utmost to
enhance the corporate value and to build an iconic company worldwide.
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. 55.70 |
|
|
1 |
Rs. 87.55 |
|
Euro |
1 |
Rs. 68.85 |
INFORMATION DETAILS
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.