|
Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
HALIDES CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-02, M.I.D.C., Kurkumbh, Taluka Daund, District Pune-431105,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.04.1995 |
|
|
|
|
Com. Reg. No.: |
11-087338 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24117PN1995PTC087338 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEH04514G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH4368G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Derivatives. |
|
|
|
|
No. of Employees
: |
No Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 96000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears a huge dip in the profitability of the company. However, trade
networth of the company appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
A-02, M.I.D.C., Kurkumbh, Taluka Daund, District Pune-431105,
Maharashtra, India |
|
Tel. No.: |
91-2117-235356 / 235661 |
|
Fax No.: |
91-2117-235662 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 28.09.2011
|
Name : |
Mr. Dhananjay Vithal Nigudkar |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Flat No.7, Shriniwas Gaurav Apartments, Plot No.4, S. No. 133,
Kothrud, Pune – 411 029, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
26.01.1950 |
||||||||||||||||||||||||
|
Date of Appointment : |
10.04.1995 |
||||||||||||||||||||||||
|
Din No.: |
00026927 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mrs. Shailaja Dhananjay Nigudkar |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Flat No.7, Shriniwas Gaurav Apartments, Plot No. 4, S. No. 133,
Kothrud, Pune – 411 029, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
07.10.1957 |
||||||||||||||||||||||||
|
Date of Appointment : |
10.04.1995 |
||||||||||||||||||||||||
|
Din No.: |
00026986 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Sameer Dhananjay Nigudkar |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Shriniwas Gaurav Apartment, Flat No.5 and 7, Prabha Housing Society, Plot
No.4, Kothrud, Pune – 411 038, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
19.02.1983 |
||||||||||||||||||||||||
|
Date of Appointment : |
27.06.2008 |
||||||||||||||||||||||||
|
Din No.: |
02205912 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Sanket Dhananjay Nigudkar |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Shriniwas Gaurav Apartments, Flat No.5 and 7, Prabha Housing Society,
Plot No.4, Kothrud, Pune – 411 038, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
02.05.1984 |
||||||||||||||||||||||||
|
Date of Appointment : |
27.06.2008 |
||||||||||||||||||||||||
|
Din No.: |
02227184 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Dilip Madhukar Gokhale |
||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||
|
Address : |
101, Rajas Sakharam Complex, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
11.04.1964 |
||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2010 |
||||||||||||||||||||||||
|
Din No.: |
03083226 |
||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Dhananjay Vithal Nigudkar |
|
418400 |
|
Shailaja Dhananjay Nigudkar |
|
356100 |
|
Anita Arun Kaulgud |
|
2400 |
|
Madhuri Sanjay Pachpor |
|
40000 |
|
Sanjay V. Pachpor |
|
10000 |
|
Ugrabhai Varanashidas Patel |
|
80000 |
|
Maniben Ugrabhai Patel |
|
80000 |
|
Sameer Dhananjay Nigudkar |
|
6000 |
|
Sanket Dhanjay Nigudkar |
|
6000 |
|
Avinash G. Bhave |
|
100 |
|
Dilip Madhukar Gokhale |
|
1000 |
|
TOTAL |
|
1000000 |
AS ON 28.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
78.75 |
|
Other
|
|
21.25 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Derivatives. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v
Bank of v HDFC Bank Limited v State Bank of India, Small Industries Branch, Mumbai-Pune Road, Pune-411003, Maharashtra, India v
State Bank of v Standard Chartered Bank v State Bank of India, Small Industries Branch, 562/7, River View Apartment, Opposite Savarkar Bhavan, Shivaji Nagar, Pune-411005, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSA and Associates Chartered Accountants |
|
Address : |
102A, Samrudha Varad, Sathe Colony, 1099, Shukrawar Peth, Pune-411002,
Maharashtra, India |
|
PAN No.: |
AMEPB1162E |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs.10.000 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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.082 |
14.783 |
2.287 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
24.082 |
24.783 |
12.287 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.753 |
19.175 |
7.352 |
|
|
2] Unsecured Loans |
0.880 |
2.938 |
7.435 |
|
|
TOTAL BORROWING |
28.633 |
22.113 |
14.787 |
|
|
DEFERRED TAX LIABILITIES |
0.101 |
0.083 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
52.816 |
46.979 |
27.074 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
31.488 |
25.626 |
12.706 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.033 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.013
|
9.098
|
8.165 |
|
|
Sundry Debtors |
10.869
|
18.105
|
9.745 |
|
|
Cash & Bank Balances |
0.427
|
0.208
|
0.742 |
|
|
Other Current Assets |
9.896
|
5.719
|
2.327 |
|
|
Loans & Advances |
2.468
|
1.988
|
0.481 |
|
Total
Current Assets |
35.673
|
35.118
|
21.460 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.521
|
6.327
|
6.017 |
|
|
Other Current Liabilities |
0.233
|
0.528
|
0.196 |
|
|
Provisions |
1.591
|
6.910
|
0.912 |
|
Total
Current Liabilities |
14.345
|
13.765
|
7.125 |
|
|
Net Current Assets |
21.328
|
21.353
|
14.335 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
52.816 |
46.979 |
27.074 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
SALES |
85.985 |
80.373 |
33.376 |
|
|
|
|
|
|
|
|
|
|
SALARY
AND WAGES |
2.372 |
1.509 |
NA |
|
|
|
|
|
|
|
|
|
|
INTEREST AND
BANK CHARGES |
3.286 |
2.446 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ LOSS AFTER TAX |
1.508 |
12.611 |
0.880 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
68.231 |
22.422 |
11.517 |
|
|
|
Freight |
3.957 |
1.708 |
1.366 |
|
|
TOTAL EARNINGS |
72.188 |
24.130 |
12.883 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
13.768 |
16.619 |
6.566 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.51 |
12.61 |
0.88 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78
|
1.45 |
1.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.49
|
2.55 |
3.01 |
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 |
No |
|
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 |
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 |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS AND PERFORMANCE:
1. During the year under report one of the suppliers of “Bromine”, a major
raw material required by the company, suffered heavy losses due to foods in
Kutch region and due to which the suppliers, plant was also under closure for
more than 2 months and as a result there was acute shortage of the above raw
materials in the market. It eventually resulted in substantial increase in the
price of the raw material. The company had given delivery schedules to its
customer and to meet the schedule, the company had to buy the above raw
material from whatever sources available and at a price demanded by the other
suppliers which at times cost the company three times the normal price.
2. To cover the manifold increase in the price of the raw material, the
company requested its customers for a price revision. The company’s request was
acceded to by some of the customers of the company. However, the revision of
price accepted by the company’s customers was not sufficient to cover ever
increasing price of the raw materials.
3. As bromine prices went up, the price of other brominated products
required for the production also went up which resulted in the erosion of the
margins of the company.
4. The company also uses succinic acid as a major raw material. Succinic
acid is a crude oil based product. During last year the international prices of
crude oil also witnessed an upward trend which caused the prices of succinic
acid to go up substantially.
5. During the year Maharashtra Government revised and increase the minimum
wages for all the employees. Hence accordingly the company to pay the wages as
per the revised rates. The outgo on account of salaries and wages increased by
57.19% thus resulting in strain on the company’s margins.
6. The demand for the company’s products is increasing. To cater to the
increased in demand the company expanded its capacity by installing new
machines which were finance through bank borrowing. The interest rate regime
hardened during the year and the outgo on account of interest also increased
putting further pressure on the profits of the company. As explained in the
above table, the company has paid 34.33% more interest in 2010-11 than 2009-10.
7. Although the turnover of the company witnessed an increase during the
year high cost of material, increase in employee cost and bank interest
resulted in putting heavy strain on the margins of the company which led to
substantial decrease in the profits of the company.
8. The order book of the company is healthy and the company is also
expecting surge in demand for its products from its international and domestic
customers. The directors are making all efforts to control the costs and
improve the margins.
9. The directors propose to carry balance of profit of Rs.1.490 millions to
balance sheets.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10197561 |
|
Corporate
identity number of the company |
U24117PN1995PTC087338 |
|
Name of the
company |
HALIDES CHEMICALS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-02, M.I.D.C., Kurkumbh, Taluka Daund, District Pune-431105,
Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Others |
|
Particular of
charge holder |
State Bank of India, Small Industries Branch, 562/7, River View
Apartment, Opposite Savarkar Bhavan, Shivaji Nagar, Pune-411005, Maharashtra,
India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Loan-cum-Hypothecation (SME-4)and Memorandum for recording
extension of mortgage by Deposit of Title Deeds covering enhanced limits and
/or creation of Equitable Mortgage on Additional Properties for Existing
Limits and Enhanced Limits and Additional Facilities (SME-7) both the
documents executed to cover the enhanced limit with additional security for
enhanced limits. |
|
Date of
instrument Creating the charge |
16.04.2012 |
|
Amount secured by
the charge |
Rs.49.954
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @6.50% over Base
Rate with minimum: 16.50% for DCC. For Term Loan:@7% above Base Rate present
effective rate: 17% pa. Penal interest as per RBI's guidelines on default of
any of the Term and Conditions. Terms of
Repayment DCC: On Demand.
The tenor would be of 12 months. The existing Terms Loans will be continue as
per agreed terms and conditions the Fresh Term Loan of Rs.2.000 Millions will
have to be repaid in 60 monthly installments starting from April2012 and
ending on March2017 as denoted in the repayment schedule in the sanction letter
duly acknowledged by the Company through its Directors. Interest will be paid
along with installments as and when applied including moratorium period. The
charge will be in continuous mode. Margin RM:25% SEMI AND
FINISHED GOODS:30% Book Debts:40% PCFC10% Term Loan:35.48% Extent and
Operation of the charge SBI SI Branch
will have first and exclusive charge against all the present and future
assets of the Bank including the assets that would come into existence through
bank finance. The Company has extended the Collateral security by way of EM
of factory land, Hypothecation of new plant and machineries fixtures
equipment etc. All the Directors have set Personal Guarantee towards the
repayment of entire loan with interest thereon. The charge will be in
continuous mode till the repayment of entire loan. Others The Company, by
virtue of the Board Resolution passed on 28/03/2012,has given assent to all
the Terms and Conditions, Covenants, as provided in the Bank's Sanction
Letter and have executed the related loan document(s)/ Agreement(s) through
the Director(s),who have received and
signed the documents in physical form and who have been authorized to file
eform-8 for the modifications in the existing limits and in the nature and
scope of the charge on agreed terms. |
|
Short particulars
of the property charged |
All the present
and future current assets located at Works and at Registered Office of the
Company. Collateral
Security: EM of factory land admeasuring 4050 SMT together with a building
admea. Built up area 10438 SFT + Parkingarea 1292SFT situated at Plot No.A-2,
MIDC Kurkumbh Tal. Daund Distt Pune. Collateral:
Hypothecation of existing Plant and Machinery. Extension of New Plant and
Machineries. |
|
Particulars of
the present modification |
By this present
modification, the exiting limit of Rs.49.535 Millions has been enhanced to
Rs.49.954 Millions with additional sanction of New Term Loan of Rs.2.000
Millions. The Company has extended collateral security by way of EM of
factory land and building to cover the enhanced limit. |
FIXED ASSETS:
v Computer
v Electrical Installation
v Factory Shed
v Furniture and Fixture
v Land
v Office Equipments
v Plant and Machinery
v Vehicles – Honda
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.55.65 |
|
|
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
44 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.