1. Summary Information
|
|
|
Country |
|
|
Company Name |
GKB RX LENS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Brijendra
Kumar Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Shiv Kumar Janardhanan |
|
|
|
Registration # |
21-39759 |
|
Street Address |
P-4, Kasba
Industrial Estate, Phase 1, Kolkata-700107, |
||
|
Established Date |
22.11.1985 |
SIC Code |
-- |
|
Telephone# |
91-33 -24424354 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-33-24424940/24422862 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Ophthalmic Lens |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.57,290,000/- |
Product Name 3 |
--- |
|
Shareholders |
Bodies corporate 76.00%, Directors or relatives of
directors 24.00% |
Banking |
State Bank of
India |
|
Public Limited Corp. |
NO |
Business Period |
27 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow
Subsidiary |
-- |
Optical Supply of Australia |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
652,552,000 |
Current Liabilities |
278,055,000 |
|
Inventories |
692,510,000 |
Long-term Liabilities |
85,251,000 |
|
Fixed Assets |
471,543,000 |
Other Liabilities |
40,535,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
403,841,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
1,355,474,000 |
|
|
|
Net Worth |
1,412,764,000 |
|
Total Assets |
1,816,605,000 |
Total Liab. & Equity |
1,816,605,000 |
|
Total Assets (Previous Year) |
1,693,369,000 |
|
|
|
P/L Statement as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Sales (Total Income) |
2,116,264,000 |
Net Profit |
268,746,000 |
|
Sales(Previous yr) |
1,082,112,000 |
Net Profit(Prev.yr) |
248,470,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
GKB RX LENS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
P-4, Kasba Industrial Estate, Phase 1, Kolkata-700107, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
22.11.1985 |
|
|
|
|
Com. Reg. No.: |
21-39759 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.57.290 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33201WB1985PTC039759 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of glass-plastic-polycarbonate opthalmic
lenses (multicoated an |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. General
financial positions is good. Trade relations are reported as fair. Business is
active. Payments are reported to be regular 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 : |
P-4, Kasba Industrial Estate, Phase 1, Kolkata – 700107, West |
|
Tel. No.: |
91-33-24424354/24424355/24424356/24430190 |
|
Fax No.: |
91-33-24424940/24422862 |
|
E-Mail : |
|
|
Website : |
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|
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|
|
Factory /
Warehouse : |
100% EOU, P-9, Kasba Industrial Estate, Kasba,
Kolkata-700028, West P-1, Kasba Industrial Estate, Phase I, Kolkata-700078, |
|
|
|
|
Showroom : |
GKB Opticals 14/8A Ph:
91-33-24408400/4907 Fax:
91-33-24424940 GKB Opticals Ph:
91-33-24654407/08/09 GKB Opticals BE-4, Ph:
91-33-23586174 GKB Optical Centre at Big Bazaar Parvati Vihar,
Teghoria, Kolkata - 700059, West Ph:
91-33-25704015/85 GKB Sunglass Counter at Landmark Emami Shopper's
City, 3, GKB Optical Services At Sankara
Nethralaya, Ph: 91-44-28227569
GKB Opticals 61, Third Main
Road, Kasturba Nagar, Adyar, Chennai -600020, GKB Sunglass Counter at Landmark GKB Opticals Ph: 91-80-25591511/5320711 Fax: 91-80-23383191 GKB
Optical Centre at Big Bazaar Ph: 91-80-25520889 Ext 127 GKB Optical
Services at Netradham 818,13th |
|
|
|
|
Branches : |
45/1B, Gubanna Industrial Block, Rajaji Nagar, Tel. 91-80-23306039/4365 Fax. 91-80-23383191 Chennai Branch, 143/3, Broadway, 2nd Floor, Tel. 91-44-25363620/25387654 Fax. 91-44-25361598 Tel. 91-484-2380940 Fax. 91-484-2380940 Tel. 91-40-24757916/17 Fax. 91-40-24757916 M-1, Kundan House, 16, Tel. 91-11-26449780 Fax. 91-11-26486661 A-15, Info City Sector 34, Gurgaon-122001, Haryana, India |
DIRECTORS
As on 23.06.2011
|
Name : |
Mr. Brijendra
Kumar Gupta |
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|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
7/1A, Sunny Park,
Block – 8, Kolkata – 700019, West |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
21.05.1940 |
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Date of Appointment : |
09.01.2006 |
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|
DIN No.: |
00417998 |
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Other
Directorship:
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Name : |
Mr. Shiv Kumar Janardhanan |
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Designation : |
Director |
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Address : |
C – 303, 3rd Floor, Cassia, Block Brigade Millenium, |
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Date of Birth/Age : |
21.07.1966 |
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Date of Appointment : |
28.06.2007 |
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|
DIN No.: |
00095649 |
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Other
Directorship:
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Name : |
Mr. Anil Shankar |
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Designation : |
Director |
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Address : |
2 GR, Grand Residency, |
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Date of Birth/Age : |
07.05.1965 |
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Date of Appointment : |
28.06.2007 |
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DIN No.: |
01605619 |
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Other
Directorship:
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Name : |
Mr. Paul Horace Valerie Marie De Lasteyrie Du Saillant De Comborn |
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Designation : |
Director |
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Address : |
14/D, Avenue Des Eglantiers, Bruxelles-1180, Belgique |
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Date of Birth/Age : |
18.02.1959 |
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Date of Appointment : |
08.06.2010 |
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DIN No.: |
03093742 |
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Other
Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Navin Jhawar |
|
Designation : |
Secretary |
|
Address : |
Vivek Vihar, Block – C, Flat – 702, 493/ C/ A, |
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Date of Birth/Age : |
22.12.1982 |
|
Date of Appointment : |
19.04.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Essilor India Private Limited, |
|
435404 |
|
Brijendra Kumar Gupta |
|
44339 |
|
Lalit Kumar Gupta |
|
41249 |
|
Sanjiv Kumar Gupta |
|
41249 |
|
Uma Gupta |
|
6597 |
|
B K Gupta and Sons (HUF) |
|
4062 |
|
|
|
|
|
Total |
|
572900 |
Equity Share Break up (Percentage of Total Equity)
As on 23.06.2011
|
Category |
Percentage |
|
Bodies corporate |
76.00 |
|
Directors or relatives of Directors |
24.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of glass-plastic-polycarbonate opthalmic
lenses (multicoated an |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Processed Lens |
5656786 |
5644162 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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Bankers : |
State Bank of India, Industrial Finance Branch, 11, Dr. U.N. Brahmachari
Street, Kolkata-700017, West Bengal, India |
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Facilities : |
(Rs. in Millions)
|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kalyaniwalla and Mistry Chartered Accountant |
|
Address : |
Kalpataru Heritage, 127, |
|
PAN.: |
AAAFK7554R |
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Holding Company: |
Essllor India Private Limited |
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Ultimate Holding Company: |
Essllor International SA |
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Fellow Subsidiaries: |
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Enterprises over which key Management Personnel have significant
Influence: |
·
GKB Lens Private Limited ·
Gopal Krishna and Brothers ·
SN Textile Private Limited ·
GKB Lens (Bangalore) Private Limited ·
GKB Lens (Delhi) Private Limited |
CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000 |
Equity Shares |
Rs.100/- each |
Rs.60.000 Millions |
|
2000 |
Preferences Shares |
Rs.100/- each |
Rs.0.200 Millions |
|
|
Total |
|
Rs.60.200
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
572900 |
Equity Shares |
Rs.100/- each |
Rs.57.290
Millions |
Note: Of the above; 435,404 equity
shares (previous year 435,404) are held by Essilor India Private Limited, the
Holding Company which is the wholly owned subsidiary of Essilor International
SA, Francs
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
57.290 |
57.290 |
54.230 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1355.474 |
1100.089 |
718.084 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1412.764 |
1157.379 |
772.314 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
85.251 |
47.950 |
93.468 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
85.251 |
47.950 |
93.468 |
|
|
DEFERRED TAX LIABILITIES |
20.891 |
17.303 |
16.128 |
|
|
|
|
|
|
|
|
TOTAL |
1518.906 |
1222.632 |
881.910 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
471.543 |
495.032 |
335.835 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
692.510
|
647.511
|
446.212
|
|
|
Sundry Debtors |
444.172
|
402.915
|
338.594
|
|
|
Cash & Bank Balances |
173.490
|
120.313
|
86.424
|
|
|
Other Current Assets |
3.550
|
1.769
|
1.553
|
|
|
Loans & Advances |
31.340
|
25.829
|
21.764
|
|
Total
Current Assets |
1345.062
|
1198.337
|
894.547
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
203.236
|
337.536
|
237.063 |
|
|
Other Current Liabilities |
74.819
|
82.520
|
49.346
|
|
|
Provisions |
19.644
|
50.681
|
62.063
|
|
Total
Current Liabilities |
297.699
|
470.737
|
348.472
|
|
|
Net Current Assets |
1047.363
|
727.600
|
546.075
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1518.906 |
1222.632 |
881.910 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2116.264 |
1802.112 |
1310.817 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1708.930 (Including
Financial Expenses) |
1405.110 |
962.552 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
397.002 |
348.265 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
18.230 |
16.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
407.334 |
378.772 |
332.242 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
138.588 |
130.302 |
123.564 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
268.746 |
248.470 |
208.678 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
230.209 |
49.720 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
19.000 |
15.500 |
|
|
|
Dividend |
NA |
11.458 |
10.846 |
|
|
|
Tax on Dividend |
NA |
1.947 |
1.843 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
446.274 |
230.209 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1117.777 |
985.449 |
705.756 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
557.427 |
636.461 |
581.457 |
|
|
|
Stores & Spares |
98.665 |
115.213 |
67.676 |
|
|
|
Capital Goods |
10.842 |
175.884 |
33.377 |
|
|
TOTAL IMPORTS |
666.934 |
927.558 |
682.510 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
469.10 |
437.74 |
394.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
12.70
|
13.79
|
15.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.28
|
22.37
|
27.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.33
|
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.27
|
0.45
|
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.52
|
2.55
|
2.57 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
BUSINESS PERFORMANCE:
During the year Company has achieved a growth of about 18.5.% in
turnover compared to last year. The Company retained its focus on consolidation of export capacities and
growing in the domestic front. The Company achieved significant
growth in both domestic and export sale, during the year 2010.
The results for the year
2010, reflects the company continued vigilance and control over working capital
and operation expenses. The profit from operations has also shown a
satisfactory growth. This is evidenced in the attached financials and relevant
schedules for the year 2010.
The Company’s policy has
always been to share its growth with its shareholders. In view of the positive
performance and encouraging financial results of the company for the year
January 10 to December 10, the Directors are pleased to recommend a dividend of
20 per Rs.20 per equity share of Rs. 100 (Previous year 20%) This will result
in a payment of Rs.11.458 Millions as dividend and Rs.1.903 Millions as
corporate dividend tax. This year Rs.20.000 Millions has been transferred
to Reserves.
Background:
GKB RX Lens Private Limited was incorporated in 1985 in Kolkata. The
company started its production of ophthalmic lenses in June 1987. The concept
of prescription lenses was brought to
Contingent Liability
Rs. In Millions
|
Sr. No |
Particular |
31.12.2010 |
|
A) |
Taxes In Dispute |
|
|
|
Sales Tax |
0.560 |
|
|
Income Tax Matters |
1.400 |
|
B) |
Bonds given by Company in favour of Customs
Authorities |
13.418 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U33201WB1985PTC039759 |
|
Name of the company |
GKB RX LENS
PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
P-4, Kasba
Industrial Estate, Phase 1, Kolkata – 700107, West Bengal, India Email: navinjhawar@vrxlab.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
10015876 |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of charge holder |
State Bank of
India, Industrial Finance Branch, 11, Dr. U.N. Brahmachari Street,
Kolkata-700017, West Bengal, India Email: sbi.01936@sbi.co.in |
|
Nature of instrument creating charge |
Supplemental
Agreement of Hypothecation of Goods and Assets for Increase in the Overall
Limit (C.2-A). Letter Regarding
the Grant of Individual Limits within the Overall Limit (C.5). |
|
Date of instrument Creating the charge |
15.02.2011 |
|
Amount secured by the charge |
Rs.200.500
Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Different rates for different facilities Terms of Repayment The borrowings are repayable on demand. The loan is for Working Capital only which is repayable on demand
according to Banking norms. Margin Raw Materials (Domestic) : 25%, Finished Goods : 25%, Book Debts (Cover 90 days) : 25%, Letters of Credit: 10%. However, the Bank may increase the same up to
100% at its discretion, Bank Guarantees: 25%. However, the Bank may increase the same up to
100% at its discretion, and EPC - 10% of LC / PO value. Extent and Operation of the charge First Charge on the whole of the hypothecated assets as a continuing
security. Counter Guarantee of the |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
i) First Charge
over the Raw Materials, Stock-in-Process, Finished Goods, Stocks-in-Transit,
Receivables and all other current assets of the Company, both present and
future. ii) Counter
Guarantee of the Company |
|
Date of instrument modifying the charge |
02.05.2010 |
|
Particulars of the present modification |
By this
modification, the Overall Limit is to Rs.200.500 Millions Particulars of
Current Assets and all other terms and conditions continue to remain as
before in full force and effect. |
Fixed Assets
·
Leasehold Land
·
Factory Buildings
·
Plant and Machinery
·
Furniture and Fittings
·
Office Equipments
·
Motor Vehicles
·
Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.02 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.68.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--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 |
|
50 |
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.