MIRA
INFORM REPORT
|
Report Date : |
02.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
APEX DRUGS AND INTERMEDIATES LIMITED (w.e.f. 04.03.1996) |
|
|
|
|
Formerly Known
As : |
APEX DRUGS AND INTERMEDIATES PRIVATE LIMITED (w.e.f. 25.10.1995) AGANI SYNTHETICS PRIVATE LIMTIED |
|
|
|
|
Registered
Office : |
210, 2nd Floor, Ram’s Enclave, Erragadda, Hyderabad-500018,
Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.12.1989 |
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|
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|
Com. Reg. No.: |
01-010737 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 101.097 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230AP1989PLC010737 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDA02045B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA7175J |
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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 and Exporter of pharmaceutical
ingredients including active pharmaceutical ingredients and drug
intermediates. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
210, 2nd Floor, Ram’s Enclave, Erragadda, Hyderabad-500018,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-23706034 / 23717365 / 23717366 |
|
Fax No.: |
91-40-23707368 |
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E-Mail : |
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|
Website : |
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|
Factory : |
Survey No.14, Gadda Potharam Industrial Area, Jinnaram Mandal,
District Medak, Andhra Pradesh, India |
|
Tel. No.: |
91-8458-277268 / 277036 |
|
Fax No.: |
91-8458-277263 |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Ghanshyam Surajbali Kurmi |
|
Designation : |
Managing Director |
|
Address : |
2 A/7, Gulvilla, 2 V s Marg, Mahim, Mumbai-400016, Maharashtra, India |
|
Date of Birth/Age : |
11.08.1969 |
|
Date of Appointment : |
18.05.2006 |
|
DIN No.: |
00046169 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74140MH2006PTC160780 |
MAGHAN
FINANCIAL SERVICES PRIVATE LIMITED |
Director |
01-10-09 |
28-03-06 |
Active |
NO |
|
2 |
U67110MH2006PTC160857 |
KUMKUM
FINANCIAL SERVICES PRIVATE LIMITED |
Director |
01-10-09 |
30-03-06 |
Active |
NO |
|
3 |
U24230AP1989PLC010737 |
APEX
DRUGS AND INTERMEDIATES LIMITED |
Managing
director |
01-06-11 |
21-04-06 |
Active |
NO |
|
4 |
U67100AP2009PTC065037 |
INDRADHANUSH
FINANCIAL SERVICES PRIVATE LIMITED |
Director |
11-09-09 |
11-09-09 |
Active |
NO |
|
5 |
U67190AP2009PTC065159 |
EXHILARATION
FINANCIAL SERVICES PRIVATE LIMITED |
Director |
22-09-09 |
22-09-09 |
Active |
NO |
|
Name : |
Mr. Vilas Ramkrishna Lokhande |
|
Designation : |
Whole Time Director |
|
Address : |
8, Shram Safalya, Opposite Udaynagar, Panchpakhadi, Thane-400602,
Maharashtra, India |
|
Date of Birth/Age : |
13.05.1963 |
|
Date of Appointment : |
10.04.2008 |
|
DIN No.: |
01228041 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U99999MH1991PTC059963 |
CHROMATO
LAB PRIVATE LIMITED |
Director |
01-02-07 |
01-02-07 |
14-03-11 |
Active |
NO |
|
2 |
U24230AP1989PLC010737 |
APEX
DRUGS AND INTERMEDIATES LIMITED |
Whole-time
director |
01-01-10 |
10-04-08 |
- |
Active |
NO |
|
Name : |
Mr. Sandeep Kumar Verma |
|
Designation : |
Director |
|
Address : |
210, 2nd Floor, Ram’s Enclave, Erragadda, Hyderabad-500018,
Andhra Pradesh, India |
|
Date of Birth/Age : |
12.08.1987 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
02808834 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U67190AP2009PTC065159 |
EXHILARATION
FINANCIAL SERVICES PRIVATE LIMITED |
Additional
director |
30-11-09 |
30-11-09 |
Active |
NO |
|
2 |
U67100AP2009PTC065037 |
INDRADHANUSH
FINANCIAL SERVICES PRIVATE LIMITED |
Additional
director |
30-11-09 |
30-11-09 |
Active |
NO |
|
3 |
U74140MH2006PTC160780 |
MAGHAN
FINANCIAL SERVICES PRIVATE LIMITED |
Director |
16-01-10 |
16-01-10 |
Active |
NO |
|
4 |
U67110MH2006PTC160857 |
KUMKUM
FINANCIAL SERVICES PRIVATE LIMITED |
Director |
16-01-10 |
16-01-10 |
Active |
NO |
|
5 |
U24230AP1989PLC010737 |
APEX
DRUGS AND INTERMEDIATES LIMITED |
Additional
director |
01-03-10 |
01-03-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
No. of Shares |
|
Ghanshyam S. Kurmi |
10033544 |
|
Maghan Financial Services Private Limited, India |
200 |
|
Kumkum Financial Services Private Limited, India |
200 |
|
Gaurav Singh |
200 |
|
Sudhakar Reddy |
200 |
|
G Shekhar Reddy |
200 |
|
Ashok Vsudevan |
200 |
|
Ramakrishnan Shiva Sankarasubramanian |
75000 |
|
Total |
10109744 |
AS ON 29.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
99.25 |
|
Other top 50 share holders |
0.75 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of pharmaceutical
ingredients including active pharmaceutical ingredients and drug
intermediates. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Nimesulide |
Kgs. |
22776 |
|
Certirizine DIHCL |
Kgs. |
13391 |
|
Pantaprazale |
Kgs. |
33587 |
|
Levo Centirizine DIHCL |
Kgs. |
1145 |
|
Couple Amine Hydrochloride |
Kgs. |
52160 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India, Balanagar Branch, Hyderabad,
Andhra Pradesh, India ·
Oriental Bank of Commerce, Ameerpet Branch,
Hyderabad-500016, Andhra Pradesh, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rathi and Malani Chartered Accountant |
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Address : |
317, 3rd Floor, Swapnalok, S. D Road, Secunderabad-500003,
Andhra Pradesh, India |
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Tel. No.: |
91-40-27816017 / 32009337 |
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E-Mail : |
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Pan No.: |
ACBPR3959G |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10109744 |
Equity Shares |
Rs.10/- each |
Rs. 101.097
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
101.097 |
50.174 |
50.174 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
196.115 |
177.982 |
132.603 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
297.212 |
228.156 |
182.777 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
462.734 |
363.850 |
190.395 |
|
|
2] Unsecured Loans |
299.895 |
150.000 |
65.153 |
|
|
TOTAL BORROWING |
762.629 |
513.850 |
255.548 |
|
|
DEFERRED TAX LIABILITIES |
45.372 |
26.247 |
18.284 |
|
|
|
|
|
|
|
|
TOTAL |
1105.213 |
768.253 |
456.609 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
487.037 |
327.786 |
176.716 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.133 |
0.108 |
0.108 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
389.643
|
305.042 |
207.344 |
|
|
Sundry Debtors |
391.539
|
276.525 |
161.131 |
|
|
Cash & Bank Balances |
27.241
|
15.110 |
15.177 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
170.516
|
82.354 |
56.194 |
|
Total
Current Assets |
978.939
|
679.031 |
439.846 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
333.901
|
211.907 |
125.291 |
|
|
Other Current Liabilities |
4.439
|
2.228 |
14.290 |
|
|
Provisions |
22.690
|
24.537 |
20.480 |
|
Total
Current Liabilities |
361.030
|
238.672 |
160.061 |
|
|
Net Current Assets |
617.909
|
440.359 |
279.785 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.134 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1105.213 |
768.253 |
456.609 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net sales and Conversion Charges |
1657.283 |
1140.475 |
601.365 |
|
|
|
Other Income |
1.437 |
0.000 |
1.721 |
|
|
|
TOTAL (A) |
1658.720 |
1140.475 |
603.086 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed |
1411.444 |
956.175 |
396.041 |
|
|
|
Manufacturing Expenses |
31.115 |
25.156 |
45.925 |
|
|
|
Salaries & Other Benefits to Employees |
40.251 |
22.243 |
28.634 |
|
|
|
Administrative & Other Expenses |
10.713 |
11.205 |
11.451 |
|
|
|
Selling & Distribution Expenses |
2.050 |
9.760 |
16.107 |
|
|
|
Managerial Remuneration |
1.147 |
0.720 |
1.810 |
|
|
|
TOTAL (B) |
1496.720 |
1025.259 |
499.968 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
162.000 |
115.216 |
103.118 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.574 |
28.705 |
31.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
122.426 |
86.511 |
71.671 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.822 |
10.624 |
9.453 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
102.604 |
75.887 |
62.218 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.062 |
27.300 |
19.738 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
68.542 |
48.587 |
42.480 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
177.982 |
132.174 |
94.427 |
|
|
|
|
|
|
|
|
|
Less |
Issued of Bonus
Equity Shares |
50.174 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
Short Provision
of Previous Year |
2.486 |
2.779 |
4.733 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
193.864 |
177.982 |
132.174 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
49.987 |
13.114 |
33.374 |
|
|
TOTAL EARNINGS |
49.987 |
13.114 |
33.374 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
118.533 |
169.629 |
90.128 |
|
|
TOTAL IMPORTS |
118.533 |
169.629 |
90.128 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.78 |
15.00 |
8.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.13
|
4.26 |
7.04 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.19
|
6.65 |
10.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.00
|
7.54 |
10.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.33 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.93
|
3.41 |
2.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.71
|
2.85 |
2.75 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT LIABILITIES
All Contingent
liabilities are indicated by way of note and will be provided/ paid on
crystallization.
(Rs. In Millions)
|
Contingent liabilities not provided for |
31.03.2010 |
31.03.2009 |
|
In respect of
guarantees issued by bank |
4.300 |
4.000 |
|
In respect of
letter of credit |
121.623 |
15.257 |
|
In respect of
buyers credit |
34.744 |
0.000 |
FORM 8
|
Corporate
identity number of the company |
U24230AP1989PLC010737 |
|
Name of the
company |
APEX DRUGS AND
INTERMEDIATES LIMITED |
|
Address of the
registered office or of the principal place of business in |
210, 2nd Floor, Ram’s Enclave, Erragadda, Hyderabad-500018, Andhra Pradesh, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others |
|
Particular of charge
holder |
State Bank of India, Balanagar Branch, Hyderabad, Andhra Pradesh,
India |
|
Nature of
instrument creating charge |
1. Form C.1-A -
Supplemental Agreement of loan for increase in overall limits 2. Form C.2-A - Supplemental
Agreement of Hypothecation of Goods and Assets 3. Form C.5 -
Letter regarding the grant of Individual Limits within the overall limit 4. Form SME-7 and
Memorandum of Entry Regarding Creation of Charge by Deposit of Title Deeds 5. Sanction letter
of State Bank of India |
|
Date of
instrument Creating the charge |
25.11.2010 |
|
Amount secured by
the charge |
Rs. 534.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest For CC
(Hypothecation): Base Rate+5.40% p.a.w.m.r. Export Credit: as
per bank instruction Terms of repayment Working Capital
Limits - On Demand Margin 25% on stocks, 10
% on Letter of Credits and Bank Guarantee, 40 % on book debts( Cover period -
90 days ) Extent and operation of the charge (All charges are
parri-passu along with bank of India and state bank of India) 1). For WC
limits: First charge on current assets and second charge on fixed assets 2). For term
loan: First charge on fixed assets and second charge on current assets 3). Common
charges: Pledge of 30,10,065 shares of Rs. 10/- each in the name of Mr. Gs
Kurmi and lien on fixed deposit of Rs. 7.500 millions. The charge is
operative to the extent of loan amount, interest, and other charges payable |
|
Short particulars
of the property charged (Including location of the property) |
Any
movable/non-movable assets of the Company located at 210, Ram's Enclave, 2nd
Floor, Erragadda, Hyderabad, Andhra Pradesh-500018. Any movable/non-movable
assets of the Company located at Sy. 14, Gaddapotharam IDA, Jinnaram Mandal,
Medak District, AP including EM of land and Buildings located thereon.
[Extent:1 Acre 20 Gunta=1.5 Acre] Any
movable/non-movable assets of the Company located at Sy. 10, Gaddapotharam
IDA, Jinnaram Mandal, Medak District, AP including EM of land and Buildings
located thereon. [Extent: 3 Acres] Any
movable/non-movable assets of the Company located elsewhere. |
|
Charge
identification number of the charge to be modified |
90262254 |
|
Date of
instrument modifying the charge |
09.02.2010 |
|
Particulars of
the present modification |
The present
limits are increased from Rs. 455.400 millions to Rs. 534.000 millions. Details of the
limits are as under: 1) Cash Credit
(Hypothecation) - Rs. 270.000 millions (EPC under sublimit of CC- Rs. 50.000
millions) 2) FBD- Rs.
50.000 millions 3) FLC/ILC -Rs.
210.000 millions ( BG 10.000 millions) 4) Credit
Exposure Limit- Rs. 4.000 millions |
FIXED ASSETS
v
Land
v
Building
v
Plant and Machinery
v
Vehicles
v
Office Equipments
v
Furniture and Fixtures
v
Electrical Installation
v
Computers
v
R and D Equipments
WEB SITE DETAILS
PROFILE
Subject has its production
facilities located at Gaddapotaram Industrial Area, Jinnaram mandal, in Medak
District of Andhra Pradesh, which is the epicenter of pharma activity. This
strategic location ensures access to quality personnel, abundant requisite
resources and common effluent treatment facilities. The plant sits amidst
sprawling grounds, with landscaped garden and vegetation all around.
They have highly qualified and dedicated professionals at work and have many
new products in the pipeline, endeavor being to develop non-infringing
processes. As a responsible corporate citizen, Apex understands the need to
protect and safeguard the natural environment for future generations. This can
be witnessed in the various steps and initiatives by the company in the endeavor
to minimise the risk of pollution. An advanced effluent treatment facility,
with high TDS evaporation setup, has been established for this purpose.
Furthering these efforts, a zero-discharge facility that totally eliminates
pollutants and effluent, is being envisaged. An active tree plantation
programme, in the area around the plant, provides a cool, green ambience and
further reduces the threat of pollution.
Subject steady
ascent to the pinnacle of success began in1995 with the manufacture of products
like Norfloxacin, Ciprofloxacin and Cyclopropylamine.
Consistent
performance, high productivity and customer appreciation, ensured that
recognition wasn't late in coming. Today, Apex manufactures Nimesulide,
Pantoprazole Sodium, Cetirizine, Levocetirizine Clopidogrel Bi Sulphate,
Atorvastatin Calcium along with its Intermediates. A remarkable achievement
considering the short span of time it has taken to reach there.
MANAGEMENT
-
Mr Ghanshyam Kurmi - Managing Director
Earned his
Commerce Degree and Law Degree from Bombay University in 1991 and 1994
respectively. Also qualified as Company Secretary under Company
Secretaries Act, 1980 and is a member of The Institute of Company Secretaries
of India.
Started his career in 1995 as a Management Trainee in Blow
Plast Limited and later worked with Cipla Limited and Abbott India
Limited. During this period he gained extensive knowledge and insight
into the pharmaceutical industry.
-
Dr. Vilas R. Lokhande – Executive Director
He is a PhD
(1994) in Pharmaceuticals chemistry and M.Pharma (1998) from Mumbai
University. His 23 years career started with research experience of 7
years in Department of Chemotherapy, Mumbai.
His
Professional career stints include Food Drugs and Chemicals Limited, Ventron
Chemicals Limited and Union Fibro Chemicals Limited where he had worked as Group Leader (R and D). His last assignment was
in the position of Business Development Manager at Aarti Drugs Limited.
-
Mr. Sandeep Kumar Verma – Director
He is a commerce
graduate and having working knowledge in pharmaceuticals industry.
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. 53.26 |
|
|
1 |
Rs. 82.09 |
|
Euro |
1 |
Rs. 68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.