1. Summary Information
|
|
|
Country |
India |
|
Company Name |
NILONS
ENTERPRISES PRIVATE LIMITED |
Principal Name 1 |
Mr. Rajheev Shankarlal Agrawal |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Kirit Kumar Pathak |
|
|
|
Registration # |
11-139541 |
|
Street Address |
S. No. 131/1A/5,
Sunderban Complex, 1st and 2nd Floor, Next to Ganesh
Dutta Temple, Near Balewadi Phata, Pune-411045, Maharashtra |
||
|
Established Date |
07.01.1977 |
SIC Code |
-- |
|
Telephone# |
91-20-66807511 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-20-66807530 |
Business Style 2 |
Exporter |
|
Homepage |
Not Available |
Product Name 1 |
Nilons Pickle |
|
# of employees |
Not Available |
Product Name 2 |
Achar Masala |
|
Paid up capital |
Rs.12,000,000/- |
Product Name 3 |
Papads |
|
Shareholders |
Foreign holdings (23.00%) Directors or relatives of Directors (47.00%) Other top fifty shareholders (30.00%) |
Banking |
The Jalgaon Peoples Co-operative Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
34 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives |
-- |
Sanghavi Foods Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
255,256,000 |
Current Liabilities |
77,860,000 |
|
Inventories |
742,892,000 |
Long-term Liabilities |
818,803,000 |
|
Fixed Assets |
532,353,000 |
Other Liabilities |
36,385,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
933,048,000 |
|
Invest& other Assets |
28,886,000 |
Retained Earnings |
614,339,000 |
|
|
|
Net Worth |
626,339,000 |
|
Total Assets |
1,559,387,000 |
Total Liab. & Equity |
1,559,387,000 |
|
Total Assets (Previous Year) |
1039,028,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
1214,699,000 |
Net Profit |
8,475,000 |
|
Sales
(Previous yr) |
980,703,000 |
Net Profit(Prev.yr) |
26,348,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
NILONS ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
NILON’S FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S. No. 131/1A/5, Sunderban Complex, 1st and 2nd
Floor, Next to Ganesh Dutta Temple, Near Balewadi Phata, Pune-411045,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.01.1977 |
|
|
|
|
Com. Reg. No.: |
11-139541 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN1977PTC139541 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKN00150D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN8601N |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Nilons Pickle, Achar Masala, Papads,
Vermicelli, Tooty Fruity, Chopsticks, Jams, Sauce, Tomato Ketchupketchup and
Sauce. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered 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) |
|
|
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 : |
S. No. 131/1A/5, Sunderban Complex, 1st and 2nd
Floor, Next to Ganesh Dutta Temple, Near Balewadi Phata, Pune-411045,
Maharashtra, India |
|
Tel No.: |
91-20-66807511 |
|
Fax No.: |
91-20-66807530 |
|
E-Mail : |
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|
Corporate Office : |
Nilons House, P.O. Box No. 119, National Highway No. 6,
Jalgaon-421002, |
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|
|
|
Factory 1: |
Gat No. 85, Musali Taluka, Dharangaon, District Jalgaon, |
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Factory 2: |
Gate No. 175, B/2, Ultrank, Taluka Jalgaon-425117, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rajheev Shankarlal Agrawal |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
Bunglow No. 9, |
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Date of Birth/Age : |
16.10.1963 |
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Date of Appointment : |
20.02.2008 |
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DIN No.: |
00284183 |
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Other Directorship :
|
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||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Deepak Sureshchand Sanghavi |
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|
Designation : |
Managing director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Row House No. 19, Vascom Paradase, Opposite BSNL Exchange Baner, Pune-411045,
|
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|
Date of Birth/Age : |
22.08.1977 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.03.1998 |
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DIN No.: |
00274804 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vijay Sureka |
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|
Designation : |
Nominee director |
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|
Address : |
B-201, |
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|
Date of Birth/Age : |
23.10.1976 |
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Date of Appointment : |
28.01.2009 |
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DIN No.: |
02700656 |
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Other Directorship :
|
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||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kirit Kumar Pathak |
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|
Designation : |
Nominee director |
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|
Address : |
Orchard House, |
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Date of Birth/Age : |
12.09.1952 |
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Date of Appointment : |
28.01.2009 |
||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
01849295 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Shivnarayan Birla |
|
Designation : |
Secretary |
|
Address : |
Flat No. 301, Build C Sai Heritage Pimple Saudagar, Pune-411027, |
|
Date of Birth/Age : |
01.07.1975 |
|
Date of Appointment : |
28.01.2009 |
|
PAN No.: |
AIHPB0105G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Deepak Sanghavi |
4446 |
|
Shankuntalabai Sanghavi |
714 |
|
Rajheev Agarwal |
144 |
|
Kirti Pathak (Representing Deepak and Company) |
3600 |
|
Trewliard Limited, |
2760 |
|
Minakshi Agarwal |
336 |
|
Total |
12000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
23.00 |
|
Directors or relatives of Directors |
47.00 |
|
Other top fifty shareholders |
30.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Nilons Pickle, Achar Masala, Papads,
Vermicelli, Tooty Fruity, Chopsticks, Jams, Sauce, Tomato Ketchupketchup and
Sauce. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
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|
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|
Bankers : |
·
State Bank of India, Industrial Finance Branch,
2nd floor Tara Chambers,Near Mariaai police Chowky, Mumbai-Pune Highway,
Wakdewadi, Pune - 411003, Maharashtra, India ·
The Jalgaon Peoples Co-Operative Bank Limited,
152 Polan Peth, Dana Bazar, Jalgaon-425001, Maharashtra, India ·
State Bank of India ·
HDFC Bank Limited, Jalgaon ·
Standard Chartered Bank, Mumbai ·
IDBI Bank Limited, Mumbai ·
Axis Bank |
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Facilities : |
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|
|
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Financial
Institute : |
Sbicap Trustee
Company Limited, 202, Maker Tower, 'E', Cuffe Parade,, Colaba,, Mumbai -
400005, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
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Auditors : |
|
|
Name : |
Ratan Chandak and Company Chartered Accountants |
|
Address : |
9-10, 1st Floor, Chhatrapati Shivaji Maharaj Stadium
Complex, Jalgaon – 425002, Maharashtra, India |
|
PAN.: |
AABFR5803R |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
Sanghavi Foods Private Limited CIN
No.: U15136AS2005PTC007883 ·
Sanskar Recipes Private Limited CIN
No.: U15136AS2005PTC007887 ·
Deepak Foods |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs.1000/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000 |
Equity Shares |
Rs.1000/-
each |
Rs.12.000
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 |
12.000 |
12.000 |
12.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
614.339 |
616.664 |
602.951 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
626.339 |
628.664 |
614.951 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
817.110 |
321.964 |
71.764 |
|
|
2] Unsecured Loans |
1.693 |
4.990 |
4.530 |
|
|
TOTAL BORROWING |
818.803 |
326.954 |
76.294 |
|
|
DEFERRED TAX LIABILITIES |
29.009 |
19.909 |
21.054 |
|
|
|
|
|
|
|
|
TOTAL |
1474.151 |
975.527 |
712.299 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
532.353 |
205.168 |
163.482 |
|
|
Capital work-in-progress |
22.912 |
139.850 |
3.835 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.210 |
0.200 |
50.200 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
742.892
|
497.178
|
394.005 |
|
|
Sundry Debtors |
39.768
|
32.839
|
90.318 |
|
|
Cash & Bank Balances |
54.989
|
103.343
|
8.792 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
160.499
|
37.785
|
48.645 |
|
Total
Current Assets |
998.148
|
671.145
|
541.760 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
40.997
|
36.804
|
|
|
|
Other Current Liabilities |
36.863
|
20.193
|
|
|
|
Provisions |
7.376
|
6.504
|
3.846 |
|
Total
Current Liabilities |
85.236
|
63.501
|
87.006 |
|
|
Net Current Assets |
912.912
|
607.644
|
454.754 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
5.764 |
22.665 |
40.028 |
|
|
|
|
|
|
|
|
TOTAL |
1474.151 |
975.527 |
712.299 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1214.699 |
980.703 |
|
|
|
|
Other Income |
12.147 |
18.115 |
|
|
|
|
TOTAL (A) |
1226.846 |
998.818 |
639.293 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
1179.322 |
946.007 |
599.075 |
|
|
|
TOTAL |
1179.322 |
946.007 |
599.075 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
47.524 |
52.811 |
40.218 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
24.267 |
23.098 |
16.669 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
23.256 |
29.713 |
23.549 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.781 |
3.365 |
17.651 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.475 |
26.348 |
5.898 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.315 |
8.698 |
10.954 |
|
|
TOTAL EARNINGS |
6.315 |
8.698 |
10.954 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import Value |
3.596 |
10.378 |
5.293 |
|
|
TOTAL IMPORTS |
3.596 |
10.378 |
5.293 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
855.71 |
2185.83 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.69
|
2.64
|
0.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.91
|
3.03 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51
|
3.39
|
3.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.05
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.44
|
0.62
|
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.71
|
10.56
|
6.23 |
LOCAL AGENCY FURTHER INFORMATION
BRIEF REVIEW OF
OPERATIONS:
During the year
the company has achieved the turnover of Rs.1214.699 Millions as against the
turnover of Rs.980.703 Millions during 2009-10 recording a growth of over
23.86%. The Profit before interest, Depreciation and tax is Rs.101.941 Millions
as compared to Rs.91.498 Millions during 2009-10 registering a growth of
11.14%.
The Company has
further strengthened its distribution network through out the country and
expanded its reach to retail outlets during the year.
The company has
strengthen the instant mixes category through launching of Dhokla mix, Upma mix
and Idli mix which has received phenomenal response from the consumers. In the
coming years your company shall enter in Spice category.
FORM 8
|
Corporate
identity number of the company |
U74999PN1977PTC139541 |
|
Name of the
company |
NILONS
ENTERPRISES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S. No. 131/1A/5,
Sunderban Complex 1st and 2nd Floor Next to Ganesh Dutta Temple,
Near Balewadi Phata, Pune – 411045, Maharashtra, India Email Id : dineshbirla@nilons.net |
|
This form is for |
Creation
of charge |
|
Type of charge |
Immovable property Any interest in
immovable property Book debts Movable property Floating charge |
|
Particular of
charge holder |
Sbicap Trustee
Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai –
400005, Maharashtra, India Email Id : corporate@sbicaptrustee.com |
|
Nature of
instrument creating charge |
Indenture of
Mortgage Dated 6.9.2011 securing term loan of Rs.80.000 Millions and Working Capital
of Rs.710.000 Millions (Including Bank Guarantee of Rs.50.000 Millions) of
following borrowers: Term Loan : SBI- Rs.80.000 Millions and Working Capital:
SBI- Rs.260.000 Millions, Axis Rs.125.000 Millions, IDBI - Rs. 105.000
Millions, Ratnakar Bank Limited-Rs.160.000 Millions and HDFC - Rs.10.000
Millions Bank Guarantee:
SBI-Rs.50.000 Millions |
|
Date of
instrument Creating the charge |
06.09.2011 |
|
Amount secured by
the charge |
Rs.790.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per the terms
and conditions of Addendum No.1 of Common Loan Agreement dated September 6,
2011and Addendum No.1 of Working Capital Consortium Agreement dated September
6, 2011 Terms of
repayment As per the terms
and conditions of Addendum No.1 of Common Loan Agreement dtd.Sept.6, 2011and
Addendum No.1 of Working Capital Consortium Agreement dtd. Sept.6, 2011 Margin As per the terms
and conditions of Addendum No.1 of Common Loan Agreement dtd.Sept.6, 2011and
Addendum No.1 of Working Capital Consortium Agreement dtd. Sept.6, 2011 Extent and
operation of the charge Term Loan - pari
passu first charge on fixed assets and movable assets, second pari passu
charge on current assets Working Capital -
pari passu first charge on current assets and second pari passu charge on
fixed assets and movable assets |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land bearing Gat
No.175/B-2 admeasuring 80 Ares situate at Village Utran, District Erndol,
Jalgaon more particularly described in Indenture of Mortgage Land
bearingGatNo.175/2A/1and Pot Kharab Land totally admeasuring 1 Hec 60 Ares
situate at Village Utran, District Erndol, Jalgaon more particularly
described in Indenture of Mortgage Land
bearingGatNo.175/2/A and Pot Kharab Land totally admeasuring 1 Hec 20 Ares
situate at Village Utran, District Erndol, Jalgaon more particularly
described in Indenture of Mortgage Land
bearingGatNo.85 and Pot Kharab Land totally admeasuring 1 Hec 50 Ares situate
at Village Musai, DistrictDharngaon, Jalgaon more particularly described in
Indenture of Mortgage Movable
Properties of the Company including movable plant and machinery, machinery
spares, tools and movables (all present and future) more particularly
described in Indenture of Mortgage All rights, title
and interests of the Company in the current assets (eg. stock in trade, book
debts, o/s, etc) pertaining to the office/premises at lands bearing Gat Nos.175/B-2,
175/2A/1 and 175/2/A of Village
Utran, Erndol District and Gat No.85 of Village Musai, Dharngaon, Jalgaon
more particularly described in the Indenture of Mortgage |
Contingent
Liabilities not provided for:
Contingent
liability on account of Excise Duty show cause notices aggregating to Rs.2.207
Millions are pending against which the company has went into appeal. The
Company has already received orders in its favour from Commissioner of Central
Excise and Customs (Appeals), Nashik against the show cause notices amounting
to Rs.0.656 Million vide their order no. CEX.XI/JMJ/76/NSK/APL/2005 dated
15/06/2005 and order no. CEX.XI/JMJ/77/NSK/APL/2005 dated 15/06/2005. Regarding
the remaining show cause notices amounting to Rs.1.551 Millions also the
Company has already got stay order from CESTAT, Mumbai holding that the Company
has a strong prima facie case in its favour. The Company is very confident of
getting the pending appeals also in its favour in view of the well settled law
on the subject matter in dispute.
Counter guarantees
given to the banks for guarantees issued by them on Company’s behalf Rs.35.856
Millions (Previous year Rs.2.433 Millions)
Counter guarantees
given by the Company to the banks on behalf of others Rs.1,100 Millions
(Previous year Rs.1,000 Millions)
Bills discounted
with banks Rs.28.389 Millions (Previous year Rs.32.665 Millions)
MP VAT liability
amounting to Rs.0.357 Million as determined by the VAT officer, Jabalpur for FY
2006-07 and Rs.1.817 Millions has been disputed by the company and the company
is in appeal with Deputy Commissioner Appeals MP VAT, Jabalpur in this regard.
On directions from Deputy Commissioner Appeals, the case has been redirected to
the VAT office for re-assessment and the outcome of the same is pending as on
31.03.2011.
FIXED ASSETS
·
Land
·
·
·
Plant and Machinery
·
Storage Racks and Bags
·
Furniture and Fixture
·
Office Equipments
·
Computers
·
Vehicles
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.53.23 |
|
|
1 |
Rs.82.67 |
|
Euro |
1 |
Rs.69.13 |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
48 |
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.