MIRA INFORM REPORT
|
Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
BLUPLAST INDUSTRIES LIMITED (w.e.f.14.07.2005) |
|
|
|
|
Formerly Known
As : |
BLUPLAST INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gala No. 113 and
114, Vivek Industrial Estate, Goregaon
(East), Mumbai – 400063, |
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Country : |
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|
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Financials (as
on) : |
31.03.2011 |
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|
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Date of
Incorporation : |
14.01.1999 |
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|
|
|
Com. Reg. No.: |
11-117874 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 77.162
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1999PLC117874 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT10891G |
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|
|
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PAN No.: [Permanent Account No.] |
AABCT0420F |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Plastic Articles. |
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|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 746000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Latest financial i.e. 2011-2012 are missing from the government department. From
the available financial i.e.2011, the company seems to have satisfactory
track record. There appears some dip in the profitability. However, networth 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Non Fund based limit : A3 |
|
Rating Explanation |
The moderate credit quality. It carry higher credit risk. |
|
Date |
July 2, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Fund based limit : BBB- |
|
Rating Explanation |
The moderate credit. It carry
higher than average credit risk. |
|
Date |
July 2, 2012 |
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.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Jitendra |
|
Designation : |
Accountant |
|
Contact No.: |
91-260-2241526 |
|
Date : |
22.12.2012 |
LOCATIONS
|
Registered/ Head Office : |
Gala No. 113 and
114, Vivek Industrial Estate, Goregaon
(East), Mumbai – 400063, |
|
Tel. No.: |
91-22-40991234/ 26851212 |
|
Fax No.: |
91-22-26851151 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
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Factory : |
Survey No. 709/1-4, 8, 9, 710/13, |
|
Telefax : |
91-260-2241526/ 2244726/ 3091690 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Kamleshkumar Lalchand
Jain |
|
Designation : |
Managing Director |
|
Address : |
102, Indra Puri, |
|
Date of Birth/Age : |
23.05.1959 |
|
Qualification : |
Undergraduate |
|
Date of Appointment : |
27.02.1999 |
|
PAN No.: |
ADFPJ3701P |
|
DIN No.: |
01001335 |
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|
|
|
Name : |
Mr. Indermal Pannalal
Jain |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 402, Evershine Aangan
CHS Limited, Jawahar Nagar, Opposite Cinemax, |
|
Date of Birth/Age : |
26.07.1963 |
|
Qualification : |
Undergraduate |
|
Date of Appointment : |
14.01.1999 |
|
PAN No.: |
AACPJ1290M |
|
DIN No.: |
00094566 |
|
|
|
|
Name : |
Mr. Prince Hirachand Jain |
|
Designation : |
Director |
|
Address : |
1804, |
|
Date of Birth/Age : |
27.10.1975 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
10.08.2005 |
|
DIN No.: |
01210731 |
|
|
|
|
Name : |
Mr. Shivram Umaramji
Choudhary |
|
Designation : |
Director |
|
Address : |
DU 8, Shri Apartment and Surrounding
Locality, Jayprakash Road No. 3, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
15.05.1955 |
|
Date of Appointment : |
01.12.2011 |
|
DIN No.: |
05138828 |
|
|
|
|
Name : |
Mr. Anandilal Jailal
Oza |
|
Designation : |
Director |
|
Address : |
A/19, Valmiki Sadan,
Rani Sati Marg, Malad (East), Mumbai – 400062, |
|
Date of Birth/Age : |
14.12.1949 |
|
Date of Appointment : |
01.12.2011 |
|
DIN No.: |
05150093 |
|
|
|
|
Name : |
Mr. Jitendra Kunverji
Gala |
|
Designation : |
Director |
|
Address : |
1001, |
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Date of Birth/Age : |
02.01.1957 |
|
Date of Appointment : |
17.12.2011 |
|
DIN No.: |
05151648 |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Ms. Rakhi Ramesh Kabra |
|
Designation : |
Company Secretary |
|
Address : |
603/604, |
|
Date of Birth/Age : |
09.08.1987 |
|
Date of Appointment : |
01.12.2011 |
|
PAN No.: |
AUNPK3167H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Indermal Pannalal Jain |
|
3229910 |
|
Rekha Jain |
|
558182 |
|
Nayana L. Jain |
|
488112 |
|
Kamlesh L. Jain |
|
3291324 |
|
Bluplast Modulars
Private Limited, |
|
48700 |
|
Ramchndra A. Nagpal |
|
2 |
|
Sangeeta N. Jain |
|
2 |
|
Janpriya Jain |
|
2 |
|
Atmaram Kherajmal Nagpal |
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2 |
|
Dilipkumar Atmaram Nagpal |
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2 |
|
Jokhiram Kison Gopal |
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2 |
|
Suresh Atmaram Nagpal |
|
2 |
|
Khushboo Jain |
|
100000 |
|
Total |
|
7716242 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.63 |
|
Directors
or relatives of directors |
|
99.37 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Articles. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Plastic Goods |
M.T. |
N.A |
12100.00 |
14,130.40 |
Note:
i) Licensed
Capacity is not applicable.
ii) All capacities
are expressed on double shift basis.
The installed
capacity is as per certificate given by the Director on which auditor has
relied being a technical matter.
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Ø HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India Ø ICICI Bank
Limited, Goregaon Branch, Mumbai, Ø HDFC Bank Limited,
Goregaon Branch, Mumbai, |
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Facilities : |
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Banking
Relations : |
-- |
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|
Financial Institution : |
3i Infotech Trusteeship Services Limited, 6th
Floor, Akruti Center Point, MIDC Central Road, Next
to Marol Telephone Exchange, Andheri
(East), Mumbai – 400093, Maharashtra, India |
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|
|
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Auditors : |
|
|
Name : |
Singrodia Goyal and
Company Chartered Accountants |
|
Address : |
A-201 Rajeshri Accord, |
|
Income-tax
PAN of auditor or auditor's firm : |
AAJPM7516N |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,716,242 |
Equity Shares |
Rs. 10/- each |
Rs. 77.162
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 |
77.162 |
77.162 |
77.162 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
109.390 |
101.227 |
89.173 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
186.552 |
178.389 |
166.335 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
310.433 |
294.914 |
260.626 |
|
|
2] Unsecured Loans |
59.276 |
66.282 |
52.728 |
|
|
TOTAL BORROWING |
369.709 |
361.196 |
313.354 |
|
|
DEFERRED TAX LIABILITIES |
5.122 |
3.501 |
2.599 |
|
|
|
|
|
|
|
|
TOTAL |
561.383 |
543.086 |
482.288 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
102.232 |
82.559 |
85.299 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.007 |
0.007 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
257.383
|
215.212 |
154.875 |
|
|
Sundry Debtors |
298.664
|
287.703 |
312.284 |
|
|
Cash & Bank Balances |
12.638
|
8.373 |
7.525 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
29.168
|
39.709 |
32.480 |
|
Total
Current Assets |
597.853
|
550.997 |
507.164 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
137.364
|
87.197 |
95.793 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
12.121 |
|
|
Provisions |
1.345
|
3.280 |
2.261 |
|
Total
Current Liabilities |
138.709
|
90.477 |
110.175 |
|
|
Net Current Assets |
459.144
|
460.520 |
369.989 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
561.383 |
543.086 |
482.288 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1318.475 |
1164.761 |
|
|
|
|
Other Income |
0.667 |
0.388 |
|
|
|
|
TOTAL (A) |
1319.142 |
1165.149 |
N.A. |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1100.928 |
952.377 |
|
|
|
|
Manufacturing service costs |
94.708 |
94.101 |
|
|
|
|
Employee related expenses |
7.123 |
6.807 |
|
|
|
|
Administrative selling other expenses |
20.139 |
25.633 |
|
|
|
|
TOTAL (B) |
1222.898 |
1078.918 |
N.A. |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
96.244 |
86.231 |
78.669 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
64.436 |
52.839 |
50.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.808 |
33.392 |
28.593 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.443 |
16.394 |
13.936 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.365 |
16.998 |
14.657 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.202 |
4.944 |
4.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.163 |
12.054 |
10.609 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
88.740 |
76.686 |
66.077 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
96.903 |
88.740 |
76.686 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB basis |
0.906 |
4.120 |
26.259 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.06 |
1.56 |
1.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.62
|
1.03 |
N.A. |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.01
|
1.46 |
N.A. |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91
|
2.68 |
2.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.10 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.73
|
2.53 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.31
|
6.09 |
4.60 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
137.364 |
87.197 |
95.793 |
|
Total |
137.364 |
87.197 |
95.793 |
|
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS:
During the year
the Company has earned net profit of Rs. 8.163 Millions (Previous Year Rs.
12.054 Millions) on a Turnover and Other income of Rs. 1319.141 Millions
(Previous Year Rs. 1165.149 Millions). Directors are hopeful that the operations
of the Company would further improve in the current year.
FUTURE:
The Company is
planning to increase the Trading Activity Business by importing goods and
distributing through existing Distribution Setup.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25200MH1999PLC117874 |
|
Name of the
company |
BLUPLAST
INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gala No. 113 and
114, Vivek Industrial Estate, Goregaon
(East), Mumbai – 400063, Email: martin@bluplast.com |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the modified |
10315340 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India Email: RBBform8@hdfcbank.com
CIN No.: L65920MH1994PLC080618 |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry - Constructive Delivery By The Borrower and Third Party By Deposit of
Title Deeds with the Security Trustee. |
|
Date of
instrument Creating the charge |
12.10.2012 |
|
Amount secured by
the charge |
Rs. 150.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and
operation of the charge |
Rate of Interest Interest at the rate
as may be communicated by the Bank from time to time. Terms of Repayment Working Capital
facility shall be repayable on demand. Term Loan
facility shall be repayable in suitable installments. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge The Company
accorded and gave oral consent to Bank to continue to hold and retain the
title deeds (by way of Constructive delivery) in respect of its immovable
properties for repayment of Rs.150.000 Millions by the Company together with
principal, interest, liquidated damages, costs, charges and expenses. Others The charge
created in favour of HDFC Bank shall rank pari passu with the charge/s
created in favour of The Shamrao
Vithal Co-operative Bank Limited and ICICI Bank
Limited |
|
Short particulars
of the property charged |
(1) Property
being N.A. Land or ground or landed property bearing Survey Nos. 709/1
admeasuring 800 sq. mtrs. and
709/8 admeasuring 1000 sq. mtrs. total
admeasuring 1800 sq. mtrs in area or therabouts
situated at Dabhel, within the Village panchayat Jurisdiction of Dabhel,
Nani Daman, Taluka Daman,
District and Sub-District Daman. (2) Property
being Non-Agricultural land or ground or Landed property situated at Dabhel, Survey Nos. 709/3 admeasuring 500 sq. mtrs. and 709/9 admeasuring 900
sq. mtrs. totally
admeasuring 1400 Sq. mt in area thereabouts, within
the village Panchayat Jurisdiction of Dabhel, Nani Daman, Taluka of Daman, (3) Property
being Non-Agricultural Land or ground or Landed property situated at Dabhel, Survey Nos. 709/2 admeasuring 500 sq. mts. and Survey Nos.709/4 admeasuring 600 sq. mts Survey Nos. 710/13 admeasuring 600 sq. mtrs. totally admeasuring 1700
Square meters in area thereabouts, within the village Panchayat
Jurisdiction of Dabhel, Nani
Daman, Taluka of Daman, Sub-Dist Daman and District
Daman. (4) Property
being Industrial Premises (industrial Sheds) bearing serial no. 1/C (one-C),
admeasuring 10500 sq. feet. on the ground floor,
along with balance FSI of First and Second Floor in the building known as
Maharani Industrial Estate built on Plot bearing Survey No. 697/9 situated
within the village Dabhel, Taluka
and Sub-District Daman. |
|
Date of
Modification |
10.04.2012 |
|
Particulars of
the present modification |
The charge shall
now stand increased from Rs.120.000 Millions to Rs.150.000 Millions in favour of Bank, against the security of immovable
Properties being lying and situate at village Dabhel,
Taluka and Sub-District Daman. |
CONTINGENT
LIABILITIES:
a) Company has
obtained license under Export Promotion Capital Goods Scheme (EPCG) for import
of capital goods on zero percent custom duty. Under the EPCG the Company needs to
fulfill certain export obligations, failing which, it is liable for payment of
custom duty. Export Obligations as on 31st March, 2011 is Rs.
204.181 Millions (Previous Year Rs. 90.089 Millions).
b) On Guarantees
executed by Company’s Bankers Rs.11.50Lacs/- (Previous Year Rs. 0.600 Million).
c) Estimated
amount of capital contracts remaining to be executed and not provided for Rs
2.053 Millions (net of advances) (Previous Year Rs. 2.701 Millions)
d) Income Tax
demand disputed in appeals Rs. 0.115 Million (Previous Year Rs.3.078 Millions)
FIXED ASSETS:
Ø
Ø
Ø Plant and
Machinery
Ø Electric
Installations
Ø Dies, Moulds and
Equipments
Ø Fire Extinguisher
Ø Air Conditioners
Ø Transformers
Ø Furniture and
Fixture
Ø Office Equipments
Ø Vehicles
Ø Computers
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 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. 55.09 |
|
|
1 |
Rs. 89.54 |
|
Euro |
1 |
Rs. 72.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
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 |
|
45 |
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.