MIRA
INFORM REPORT
|
Report Date : |
12.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHIVA PHARMACHEM LIMITED (w.e.f. 04.07.2011) |
|
|
|
|
Formerly Known
As : |
SPPL INDIA LIMITED (w.e.f. 01.04.2011) SHIVA PHARMACHEM LIMITED (w.e.f. 30.06.2010) SHIVA PHARMACHEM PRIVATE LIMITED |
|
|
|
|
Registered Office : |
9th Floor, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
18.03.1999 |
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|
|
|
Com. Reg. No.: |
04-35615 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.69.502 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24231GJ1999PLC035615 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BRDS01031C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AALFS0672H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer and Exporter of Multifunctional Intermediates and
Speciality Chemicals |
|
|
|
|
No. of Employees
: |
180 [In Office 30 + 150 in Factory] Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
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. The
company is doing well. 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 |
INFORMATION PARTED BY
|
Name : |
Ms. Zarna |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-265-2321418 |
LOCATIONS
|
Registered / Corporate Office : |
9th Floor, |
|
Tel. No.: |
91-265-2321418 / 2335432 |
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Fax No.: |
91-265-2357238 |
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E-Mail : |
|
|
Website : |
|
|
Area : |
5000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Block No. 588, Village-Luna, Taluka-Padra-391 440, District-Vododara, |
|
Tel. No.: |
91-2662-221021 / 224360 |
|
Fax No.: |
91-2662-223314 |
|
Area : |
42000 Sq. Meters |
|
Location : |
Owned |
|
|
|
|
|
One Alpine Way, |
|
Tel. No.: |
973-535-6135 |
|
Fax No.: |
973-535-6149 |
DIRECTORS
As on 29.07.2011
|
Name : |
Mr. Vishal Rakesh Agrawal |
|
Designation : |
Managing Director |
|
Address : |
61, Alkapuri Society, Alkapuri, Vododara – 390 005, |
|
Date of Birth/Age : |
01.10.1974 |
|
Qualification : |
B. Chemical |
|
Date of Appointment : |
18.03.1999 |
|
DIN : |
00056800 |
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 |
U67120MH1988PLC049858 |
Ankshree
Investments and Trading Company Limited |
Director |
21-09-98 |
21-09-98 |
- |
Active |
NO |
|
2 |
U24231GJ1999PLC035615 |
Shiva Pharmachem
Limited |
Managing director |
18-03-99 |
18-03-99 |
- |
Active |
NO |
|
3 |
U65910GJ1989PTC012889 |
Geetganga
Investment Private Limited |
Director |
30-09-99 |
30-09-99 |
- |
Active |
NO |
|
4 |
U65993GJ1986PTC008516 |
Tash Investment
Private Limited |
Director |
30-09-99 |
30-09-99 |
- |
Active |
NO |
|
5 |
L25200GJ1973PLC002436 |
Ineos Abs ( |
Director |
23-03-01 |
23-03-01 |
17-04-08 |
Active |
NO |
|
6 |
U92140MH2006PTC183067 |
Red Earth Art
Galleries Private Limited |
Director |
20-03-06 |
20-03-06 |
- |
Active |
NO |
|
7 |
U70102MH2007PTC174896 |
Rodin Properties
Private Limited |
Director |
10-10-07 |
10-10-07 |
- |
Active |
NO |
|
8 |
U51109MH2008PTC184043 |
Uma Retail
Private Limited |
Director |
26-06-08 |
26-06-08 |
- |
Active |
NO |
|
9 |
U45200MH2008PTC187521 |
Jaspur
Properties Private Limited |
Director |
14-10-08 |
14-10-08 |
- |
Active |
NO |
|
10 |
U24231GJ1989PLC013141 |
Sudeep Pharma
Limited |
Director |
01-04-11 |
20-02-09 |
- |
Active |
NO |
|
11 |
U70102MH2008PTC181148 |
Monet Properties
Private Limited |
Director |
17-05-11 |
17-05-11 |
- |
Active |
NO |
|
12 |
U72900GJ2011PTC067839 |
Ses Engineering
Private Limited |
Director |
16-11-11 |
16-11-11 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Rakesh Shivbhagwan Agrawal |
|
Designation : |
Director |
|
Address : |
61, Alkapuri Society, Alkapuri, Vododara – 390 005, |
|
Date of Birth/Age : |
08.06.1947 |
|
Qualification : |
B. Chemical |
|
Date of Appointment : |
29.09.2001 |
|
DIN : |
00057955 |
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 |
L25200GJ1973PLC002436 |
Ineos ABS ( |
Managing
director |
01-01-12 |
07-12-73 |
- |
Active |
NO |
|
2 |
U65910GJ1989PTC012889 |
Geetganga
Investment Private Limited |
Director |
18-10-89 |
18-10-89 |
- |
Active |
NO |
|
3 |
L22219MH1991PLC059800 |
Control Print
Limited |
Director |
23-09-11 |
26-03-97 |
- |
Active |
NO |
|
4 |
U67120MH1988PLC049858 |
Ankshree
Investments And Trading Company Limited |
Director |
21-09-98 |
21-09-98 |
- |
Active |
NO |
|
5 |
U80301GJ2000NPL039019 |
Tapovan
Education Institute |
Director |
06-12-00 |
06-12-00 |
19-06-07 |
Active |
NO |
|
6 |
U24231GJ1999PLC035615 |
Shiva Pharmachem
Limited |
Director |
29-09-01 |
29-09-01 |
- |
Active |
NO |
|
7 |
U45200MH2008PTC187521 |
Jaspur Properties
Private Limited |
Director |
14-10-08 |
14-10-08 |
- |
Active |
NO |
|
8 |
L17110GJ1935PLC000494 |
Shri Dinesh
Mills Limited |
Director |
15-09-11 |
10-02-11 |
- |
Active |
NO |
|
9 |
U70102MH2008PTC181148 |
Monet Properties
Private Limited |
Director |
17-05-11 |
17-05-11 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Rahul Rakesh Agrawal |
|
Designation : |
Director |
|
Address : |
174, 17th Floor, NCPA Apartment, Nariman Point, Mumbai –
400 021, |
|
Date of Birth/Age : |
04.03.1978 |
|
Qualification : |
B. Chemical |
|
Date of Appointment : |
18.03.1999 |
|
DIN : |
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 |
U67120MH1988PLC049858 |
Ankshree
Investments And Trading Company Limited |
Director |
21-09-98 |
21-09-98 |
Active |
NO |
|
2 |
U24231GJ1999PLC035615 |
Shiva Pharmachem
Limited |
Managing
director |
18-03-99 |
18-03-99 |
Active |
NO |
|
3 |
U65993GJ1986PTC008516 |
Tash Investment
Private Limited |
Director |
30-09-99 |
30-09-99 |
Active |
NO |
|
4 |
U65910GJ1989PTC012889 |
Geetganga
Investment Private Limited |
Director |
30-09-99 |
30-09-99 |
Active |
NO |
|
5 |
U92140MH2006PTC183067 |
Red Earth Art
Galleries Private Limited |
Director |
20-03-06 |
20-03-06 |
Active |
NO |
|
6 |
U70102MH2007PTC174896 |
Rodin Properties
Private Limited |
Managing
director |
10-10-07 |
10-10-07 |
Active |
NO |
|
7 |
U70102MH2008PTC181148 |
Monet Properties
Private Limited |
Director |
15-04-08 |
15-04-08 |
Active |
NO |
|
8 |
U51109MH2008PTC184043 |
Uma Retail
Private Limited |
Director |
26-06-08 |
26-06-08 |
Active |
NO |
|
9 |
U45200MH2008PTC187521 |
Jaspur
Properties Private Limited |
Director |
14-10-08 |
14-10-08 |
Active |
NO |
|
10 |
U72900GJ2011PTC067839 |
Ses Engineering
Private Limited |
Director |
16-11-11 |
16-11-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Ms. Zarna |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rakesh S Agrawal |
|
270000 |
|
Vishal R Agrawal |
|
270000 |
|
Rahul R Agrawal |
|
270000 |
|
Uma R Agrawal |
|
270000 |
|
Tash Investment Private Limited, |
|
5870000 |
|
Madhavi V Agrawal |
|
100 |
|
Ruchika R Agrawal |
|
100 |
|
Total |
|
6950200 |
As on 29.07.2011
|
Equity Share
Break Up Category |
|
Percentage |
|
Bodies corporate |
|
84.46 |
|
Directors or relatives of directors |
|
15.54 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Multifunctional Intermediates and
Speciality Chemicals |
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||||||
|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
180 [In Office 30 + 150 in Factory] Approximately |
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Bankers : |
·
IDBI Bank Limited, ·
Industrial
Development Bank of India Limited ·
ICICI
Bank ·
IDBI
Bank, ·
Standard
Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Roads,
Ahmedabad – 380 006, |
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Facilities : |
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|||||||||||||||||||||||||||
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Talati and Talati Chartered Accountants |
|
Address : |
501, |
|
Tel. No.: |
91-265-3058025-29 |
|
Fax No.: |
91-265-3058027 |
|
PAN : |
AAAFT4520A |
|
|
|
|
Holding Company : |
Tash Investment Private Limited |
|
|
|
|
Related Parties : |
·
Geetganga Investment Private Limited ·
Ankshree Investments and Trading Company Private
Limited |
CAPITAL STRUCTURE
As on 29.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6950200 |
Equity Shares |
Rs.10/- each |
Rs.69.502 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 |
69.502 |
69.502 |
69.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
327.485 |
192.724 |
59.127 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
396.987 |
262.226 |
128.627 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
19.305 |
13.377 |
62.936 |
|
|
2] Unsecured Loans |
26.600 |
80.000 |
117.225 |
|
|
TOTAL BORROWING |
45.905 |
93.377 |
180.161 |
|
|
DEFERRED TAX LIABILITIES |
0.922 |
2.241 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
443.814 |
357.844 |
308.788 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
383.807 |
220.080 |
146.751 |
|
|
Capital work-in-progress |
1.935 |
7.956 |
3.457 |
|
|
|
|
|
|
|
|
INVESTMENT |
25.792 |
0.980 |
0.980 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
125.982
|
47.913
|
41.949 |
|
|
Sundry Debtors |
492.376
|
234.526
|
150.663 |
|
|
Cash & Bank Balances |
14.370
|
15.641
|
0.370
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
208.797
|
133.771
|
59.613 |
|
Total
Current Assets |
841.525
|
431.851
|
252.595
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
652.493
|
201.934
|
51.681 |
|
|
Other Current Liabilities |
1.966
|
4.713
|
14.729 |
|
|
Provisions |
154.786
|
96.376
|
28.585
|
|
Total
Current Liabilities |
809.245
|
303.023
|
94.995
|
|
|
Net Current Assets |
32.280
|
128.828
|
157.600
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
443.814 |
357.844 |
308.788 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operative revenue, net |
2197.023 |
1078.851 |
812.584 |
|
|
|
Other Income |
20.758 |
7.125 |
17.196 |
|
|
|
TOTAL (A) |
2217.781 |
1085.976 |
829.780 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material changes inventories |
825.465 |
557.520 |
|
|
|
|
Manufacturing service costs |
92.967 |
63.350 |
|
|
|
|
Employee related expenses |
69.509 |
44.412 |
|
|
|
|
Administrative selling other expenses |
110.567 |
62.235 |
|
|
|
|
Research development expenditure |
0.838 |
0.483 |
|
|
|
|
Restructuring charges |
6.054 |
0.000 |
|
|
|
|
TOTAL (B) |
1105.400 |
728.000 |
643.277 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1112.381 |
357.976 |
186.503 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES (D) |
21.248 |
19.394 |
42.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1091.133 |
338.582 |
143.962 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.284 |
22.806 |
18.848 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
1061.849 |
315.776 |
125.114 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
82.600 |
66.824 |
23.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
979.249 |
248.952 |
101.444 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1049.751 |
707.901 |
471.272 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
1396.969 |
541.945 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
140.90 |
35.82 |
14.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
44.15 |
22.92 |
12.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
48.33 |
29.27 |
15.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
86.66 |
48.44 |
31.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.67 |
1.20 |
0.97 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.15 |
1.51 |
2.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.43 |
2.66 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate identity number of the company |
U24231GJ1999PLC035615 |
|
Name of the company |
SHIVA PHARMACHEM LIMITED |
|
Address of the registered office or of the principal place of business in |
9th Floor, |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
IDBI Bank Limited, E-Mail : vijay.katdare@idbi.co.in |
|
Nature of instrument creating charge |
Supplemental memorandum of entry in respect of deposit of title deeds |
|
Date of instrument Creating the charge |
12.12.2011 |
|
Amount secured by the charge |
Rs.1000.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest As per agreement Terms of repayment As per agreement Margin As per agreement Extent and operation of the charge The credit facilities sanctioned by the IDBI Bank and SCB to the
Company on first pari passu charge basis together with interest, additional interest,
further interest by way of liquidated damages, interest tax, commitment
charges, premia on pre payment or on redemption, commissions, costs, charge
and expenses and other money payable under their respective Loan Agreement
and terms and conditions as amended from time to time. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
·
Immovable property being land situated in block
no. 588, R.S. No. 488, Mouje village Luna, Taluka and registration sud
district Padra and district ·
Immovable property being land situated in block
no. 589, R.S. No. 486, Mouje village Luna, Taluka and registration sud
district Padra and district ·
Immovable property being land situated in block
no. 590/B, R.S. No. 483, Mouje village Luna, Taluka and registration sud
district Padra and district ·
Immovable property being land situated in block
no. 592/B, R.S. No. 482, Mouje village Luna, Taluka and registration sud
district Padra and district ·
Immovable property being land situated in block
no. 593, R.S. No. 484, Mouje village Luna, Taluka and registration sud
district Padra and district ·
Immovable property being land situated in block
no. 594, R.S. No. 485, Mouje village Luna, Taluka and registration sud
district Padra and district ·
Immovable property being land situated in block
no. 595, R.S. No., Mouje 487,489, village Luna, Taluka and registration sud
district Padra and district |
|
Particulars of the present modification |
Over and above existing charge for Rs.600.000 millions in favour of
IDBI Bank, the charge properties (immoveable properties) shall extend as a
security in favour of Standard Chartered Bank for their facilities of Rs.400.000
millions on first pari-passu basis. |
FIXED ASSETS
·
Land
·
·
·
Plant and Machinery
·
Furniture
·
D G Set
·
Dead Stock
·
Air conditions
·
Computers
·
Softwares
·
Vehicles
·
R and D Equipment
·
Office Equipments
·
Pollution Control Measures
·
ISO Tanks
WEB DETAILS
THE COMPANY
They are one of the manufacturer and a global supplier of
multifunctional intermediates and speciality chemicals and are based near
Vadodara,
Their clientele includes various globally renowned multinational companies
belonging to different industries like Agro Chemicals, Pharmaceutical,
Peroxide, Fragrance and Perfumery. The Organization's R and D is working
diligently towards developing processes to be able to introduce more
intermediates for pharmaceutical and chemical industries.
Further to their vision of the pharmaceutical intermediate business domain
globally, they are in process of finalizing strategic tie ups with global
players which would involve technology transfer as well as outsourcing
opportunities. The organization has introduced the concept of Value Engineering
in order to optimize the process parameters and to be able to manufacture
products that conform to international quality standards with prime emphasis on
cost reduction.
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.51.75 |
|
|
1 |
Rs.80.00 |
|
Euro |
1 |
Rs.65.99 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.