MIRA
INFORM REPORT
|
Report Date : |
25.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
HIMEDIA LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
23, Vadhani Industrial Estate, L.B.S. Marg, Ghatkopar (West), Mumbai -
400 086, |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2011 |
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|
|
Date of
Incorporation : |
08.09.1982 |
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Com. Reg. No.: |
11-028194 |
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Capital
Investment / Paid-up Capital : |
Rs. 18.225 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85195MH1982PTC028194 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer of Dehydrated Culture Media, Vegetable Peptones and
Microbiological Diagnostic. |
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|
No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2000000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company with good track. Financials of
the company appears to be strong. Trade relations are fair. Business is
active. Payments are regular and as per commitments. The company can be considered good for normal business dealings under
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.
EXTERNAL AGENCY RATING
|
Agency Name |
Rating |
|
CRISIL |
A-
/Stable |
INFORMATION DECLINED BY
|
Name : |
Mr. Basant |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-25000970 |
|
Date : |
24.07.2012 |
LOCATIONS
|
Registered/ Head Office : |
23, Vadhani Industrial Estate, L.B.S. Marg, Ghatkopar (West), Mumbai -
400 086, |
|
Tel. No.: |
91-22-25001607/ 61169797 |
|
Fax No.: |
91-22-25005764 / 25002468 / 25002286 |
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E-Mail : |
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Website : |
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Area : |
1000 sq ft |
|
Location : |
Owned |
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|
Corporate Office : |
A 516, Swastik Disha Business Park, via Vadhani Industrial Estate,
L.B.S. Marg, Mumbai-400086, Maharashtra, India |
|
Tel. No.: |
91-22-61471919 / 25003747 / 25000970 / 25000278 |
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Fax No.: |
91-22-40951920 / 25005764 / 25002468 |
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Factory 1 : |
Plot No. W-239(B), MIDC Industrial Area, Phase II, Dombivali (East),
Thane, |
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Factory 2 : |
Plot No. B-6 in
Dindori Industrial Area, Village Palkhed, Taluka Dindori, District Nasik,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Dr. Gangandhar Warke |
|
Designation : |
Managing Director |
|
Address : |
A-15, Megh Malhar, Gawand Path, Naupada, Thane – 400 602, |
|
Date of Birth/Age : |
16.09.1941 |
|
Date of Appointment : |
08.09.1992 |
|
PAN No.: |
AAAPW0772D |
|
DIN No.: |
00131921 |
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|
|
|
Name : |
Mr. Vishnu Warke |
|
Designation : |
Whole Time Director |
|
Address : |
C-2/ 1002, 10th Floor, Lok Everest, J. D. Road, Mulund,
Mumbai – 400 080, |
|
Date of Birth/Age : |
03.07.1945 |
|
Date of Appointment : |
08.09.1992 |
|
PAN No.: |
AAAPW2012N |
|
DIN No.: |
00143047 |
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|
|
|
Name : |
Mr. Vishal Gangadhar Warke |
|
Designation : |
Whole Time Director |
|
Address : |
131, 13th Floor, Prime Rose Gladys A Lverex Road-Village
Majiwade, Thane – 400 607, |
|
Date of Birth/Age : |
29.04.1973 |
|
Date of Appointment : |
01.08.2004 |
|
PAN No.: |
AAIPW9404G |
|
DIN No.: |
00143167 |
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|
|
|
Name : |
Mr. Anil Tryambak Warke |
|
Designation : |
Whole Time Director |
|
Address : |
|
|
Date of Birth/Age : |
30.07.1960 |
|
Date of Appointment : |
01.05.1998 |
|
PAN No.: |
AAAPW2003R |
|
DIN No.: |
00143275 |
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|
|
|
Name : |
Mr. Rahul Gangadhar Warke |
|
Designation : |
Whole Time Director |
|
Address : |
134, 13th Floor, Prime Rose Gladys Al Wares Marg, |
|
Date of Birth/Age : |
19.09.1974 |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AAIPW9403B |
|
DIN No.: |
00143397 |
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|
|
|
Name : |
Mrs. Priti Vishal Warke |
|
Designation : |
Whole Time Director |
|
Address : |
A-15, Megh Malhar, Gawand Path, Naupada, Thane – 400 602, |
|
Date of Birth/Age : |
11.12.1976 |
|
Date of Appointment : |
01.08.2005 |
|
PAN No.: |
AAQPW2037H |
|
DIN No.: |
00809839 |
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|
|
|
Name : |
Mr. Rajas Vishnu Warke |
|
Designation : |
Director |
|
Address : |
A/ 9, Trupti Apartments, Mulund (East), Mumbai – 400 081, |
|
Date of Birth/Age : |
06.02.1978 |
|
Date of Appointment : |
16.06.2008 |
|
PAN No.: |
AAIPW9405H |
|
DIN No.: |
02247355 |
|
|
|
|
Name : |
Mr. Pravin Tryambak Warke |
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Designation : |
Whole Time Director |
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Address : |
|
|
Date of Birth/Age : |
15.07.1965 |
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Date of Appointment : |
01.08.2005 |
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PAN No.: |
AAAPW2137Q |
|
DIN No.: |
01672973 |
KEY EXECUTIVES
|
Name : |
Mr. Basant |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Gangadhar M. Warke |
60201 |
|
Vishnu M. Warke |
60201 |
|
Tryambak M. Warke |
680 |
|
Jyoti A. Warke Anil T. Warke |
1350 |
|
Pravin. T. Warke T. M. Warke |
180 |
|
Pravin T. Warke Sangeeta. P. Warke |
19714 |
|
Ramesh T. Warke T. M Warke |
90 |
|
R. Ramesh T. Warke S. R. Warke |
19714 |
|
Anil T. Warke T. M. Warke |
3960 |
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Anil T. Warke J. A. Warke |
14584 |
|
Rajas V. Warke |
270 |
|
Saroj G. Warke |
135 |
|
Swati V. Warke |
135 |
|
Vishal G. Warke |
135 |
|
Rahul G. Warke |
135 |
|
Gangadhar M. Warke (HUF) |
135 |
|
Vishnu M. Warke (HUF) |
135 |
|
Promino Health Product Private Limited, |
135 |
|
Arun Zambre |
1 |
|
P. T. Warke (HUF), |
90 |
|
Sulochana Mahajan |
90 |
|
R. T. Warke (HUF), |
90 |
|
A. T. Warke (HUF), |
90 |
|
TOTAL
|
182250 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Dehydrated Culture Media, Vegetable Peptones and
Microbiological Diagnostic. |
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Products : |
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PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
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|
Biological Dehydrated Culture Media, Media bases |
MT |
3950
(Approximately) |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
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Bankers : |
State Bank of India, ·
Mid Corporate Loan Administration Unit, RTO Lane,
Andheri (West), Mumbai – 400 053, Maharashtra, India ·
Commercial Branch, Sion Trombay Road, Chembur,
Mumbai-400071, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
A.B. Jog and Company Chartered Accountants |
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Address : |
604-B, Manisha Apartments, |
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Tel. No.: |
91-22-28209245 |
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Fax No.: |
91-22-24313042 |
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PAN No.: |
AAFPJ0523Q |
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Enterprises which are owned, or have significant influence
of or are partners with Key management personnel and their relatives : |
Warkem Biotech Private limited CIN No.:- U24200MH2005PTC150416 Pure Nutriplant Chemicals Private limited CIN No.:- U24110MH1982PTC026881 Promino Health Products Private limited CIN No.:- U24116MH1984PTC034825 ·
Agencia La Diagnos ·
X-pert Computer Consultants ·
Biopharmaceutical Enterprises ·
H.P. Works ·
Biotech Consultants ·
Promino Products ·
Warke Family Trust |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
182250 |
Equity Shares |
Rs.100/-
each |
Rs. 18.225
Millions |
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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 |
18.225 |
18.225 |
18.225 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
494.432 |
375.610 |
307.924 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
512.657 |
393.835 |
326.149 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
333.667 |
251.746 |
248.712 |
|
|
2] Unsecured Loans |
248.923 |
177.118 |
159.678 |
|
|
TOTAL BORROWING |
582.590 |
428.864 |
408.390 |
|
|
DEFERRED TAX LIABILITIES |
13.741 |
11.568 |
11.578 |
|
|
|
|
|
|
|
|
TOTAL |
1108.988 |
834.267 |
746.117 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
387.414 |
274.843 |
258.068 |
|
|
Capital work-in-progress |
44.461 |
61.071 |
18.844 |
|
|
Expenditure Pending Allotment |
0.373 |
0.247 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.003 |
0.002 |
0.003 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
469.513
|
374.316
|
303.398
|
|
|
Sundry Debtors |
290.433
|
245.344
|
219.830
|
|
|
Cash & Bank Balances |
177.337
|
99.431
|
95.018
|
|
|
Other Current Assets |
31.413
|
20.590
|
23.075
|
|
|
Loans & Advances |
224.057
|
202.441
|
51.033
|
|
Total
Current Assets |
1192.753
|
942.122 |
692.354 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
168.296
|
160.422
|
104.932 |
|
|
Other Current Liabilities |
148.382
|
106.767
|
83.717 |
|
|
Provisions |
199.424
|
176.937
|
34.632
|
|
Total
Current Liabilities |
516.102
|
444.126 |
223.281 |
|
|
Net Current Assets |
676.651
|
497.996
|
469.073 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.086 |
0.108 |
0.129 |
|
|
|
|
|
|
|
|
TOTAL |
1108.988 |
834.267 |
746.117 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1456.996 |
1233.508 |
1140.121 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
229.673 |
152.448 |
149.218 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
67.570 |
43.523 |
46.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
162.103 |
108.925 |
103.173 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period
Adjustments and Written back/ off |
(0.777) |
0.335 |
0.884 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.596 |
15.295 |
15.063 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
108.335 |
66.385 |
61.180 |
|
|
|
Dividend (Interim and Final) |
36.450 |
36.450 |
36.450 |
|
|
|
Tax on Dividend |
6.054 |
6.195 |
6.195 |
|
|
BALANCE CARRIED
TO THE B/S |
27.083 |
16.596 |
15.295 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
395.527 |
392.891 |
402.267 |
|
|
TOTAL EARNINGS |
395.527 |
392.891 |
402.267 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
253.465 |
169.618 |
161.723 |
|
|
|
Capital Goods |
12.241 |
9.196 |
6.958 |
|
|
TOTAL IMPORTS |
265.706 |
178.814 |
168.681 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
884.65 |
599.51 |
570.95 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
15.76
|
12.36 |
13.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.53
|
12.53 |
15.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.39 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.17
|
2.25 |
1.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
2.12 |
3.10 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
7.900 |
18.943 |
57.260 |
|
Creditors due others |
160.396 |
141.479 |
47.672 |
|
TOTAL |
168.296 |
160.422 |
104.932 |
OPERATIONS
The company
registered an increase in domestic turnover by 27 % while export it is only
marginal by 5% over that of the previous year. This is the result of the
marketing efforts of the directors.
As expected and
mentioned in their report last year, they had targeted a turnover of
Rs.1480.000 Millions. The management was successful in achieving the target
inspite of recessionary conditions throughout the world. The turnover would
have been higher if the Company had not faced problems such as the non
availability of timely raw materials, delays in getting domestic orders and
delay in getting overseas contracts which were expected to contribute to the
turnover of the company. These have since been finalized.
The sales
promotion efforts are continuously going on and enabling the company to exploit
the full potential of markets in India and abroad. This is evident from the
increased turnover for the year in spite of competitive conditions in the
country and the global economy. A better utilization of resources has enabled
the continuation of growth trend in profit after tax for the year. The
healthcare scenario of the country has been changing for the better due to
increased awareness from the government and among the general public. An
encouraging quantum of enquiries is being received. The turnover for the first
five months of the current year, which is normally a lean period, has amounted
to Rs.550.800 Millions. The directors are optimistically confident of not only
achieving a target of Rs.1750.000 Millions set for the current year, but
exceeding the same.
During the year,
the company has taken strides in the introduction of new products. These
products are the results of the Research and Development efforts of the company
in the field of vegetable based peptone, Plant tissue culture cells, and
monoclonal and polyclonal antibodies, Animal cell culture media and Mol Bio
kits. These products are finding acceptability in domestic and foreign existing
and new markets. Kits to test rapid growth of bacteria are being well accepted.
Various in-vitro diagnostic reagents continue to find a ready global market.
Company introduced during the year complete detection of Sickle cell kit in
Hematology range, harmonized media for Pharmaceutical industries and developed
economical version of water testing kit.
The company has
already started successfully marketing Hiveg products in USA. Also regular
media are also created beside veg products. Also company is targeting Hiveg
products in fermentation industries where animal based products will be
replaced.
With these circumstances your directors are hopeful of achieving the
projected turnover in this financial year also.
PALKHED -DINDORI
–NEW PROJECT
The Directors
foresee very bright future for their products and received offers from various
foreign established brands to get manufactured their products at the Company’s
facilities. Many industries from India and abroad are interested to use in
their liquid cell culture media of plant and animal instead of creating at
their premises. Considering all these new avenue, the Directors have already
purchased new industrial plot adjacent to present factory for future expansion
and to fulfill future demand of their products. The Construction of the factory
has been completed in March’2011. The new premises will be used for
standardized chemicals, soil testing
The directors are confident that the plant will significantly contribute
to the turnover and profitability of the company. The Plant has been designed
and built to comply with latest G.M.P. norms laid down for related
Pharmaceutical Sector.
FORM 8
|
Corporate
identity number of the company |
U85195MH1982PTC028194 |
|
Name of the
company |
HIMEDIA
LABORATORIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
23, Vadhani Industrial Estate, L.B.S. Marg, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90242142 |
|
Type of charge |
·
Immovable
property |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Sion Trombay Road, Chembur, Mumbai-400071, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of
Deposit for Creation of Further Charge |
|
Date of
instrument Creating the charge |
03.01.2012 |
|
Amount secured by
the charge |
Rs. 429.700
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and operation of the charge – First charge |
|
Short particulars
of the property charged (Including location of the property) |
Land bearing Plot
No. B-6 in Dindori Industrial Area, Village Palkhed, Taluka Dindori, District
Nasik, Maharashtra, admn. 11,013 sq. meters. Land bearing Plot
No. B-6 in Dombivli Industrial Area, Phase II, Village Sagaon, District
Thane, Maharashtra, admn. 2,701.50 sq. meters together with structures
standing thereon admn. 471.21 sq. meters. Land bearing Plot
No. B-4 and B-5 in Dindori Industrial
Area, Village Palkhed, Taluka Dindori, District Nasik, Maharashtra, admn.
25151 sq. meters along with Factory Building Constructed thereon. Land bearing Plot
No.W-239B in Dombivli Industrial Area, Phase II, Village Sagaon, District
Thane, Maharashtra, admn. 800.00 sq. meters along with Factory Building
Constructed thereon Gala No17, admn.
725 sq. ft., Situated on 1st Floor of Vadhani Industrial Estate,
LBS Marg, Ghatkopar (West), Mumbai-400086 Gala No. 22,
admn. 900 sq. ft., Situated on 1st Floor of Vadhani Industrial
Estate, LBS Marg, Ghatkopar (West), Mumbai-400086 Gala No. 23,
admn.893 sq. ft., Situated on 1st Floor of Vadhani Industrial
Estate, LBS Marg, Ghatkopar (West), Mumbai-400086 |
|
Date of
instrument modifying the charge |
21.04.2011 |
|
Particulars of
the present modification |
Equitable
mortgage created on 30.04.2003 on immovable properties of the Company as
described in Column 15 above and extended from time to time to further secure
the enhanced/revised credit facilities, again extended to further secure the
enhanced credit facilities of Rs. 429.700 Millions. |
FIXED ASSETS
·
Land
·
Factory Building
·
Machinery
·
Books
·
Furniture
·
Electrical Fittings
·
Computer
·
Moulds and Dies
·
Office Equipment
·
Business Equipment
·
Air Conditioner
·
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. 56.01 |
|
|
1 |
Rs. 86.89 |
|
Euro |
1 |
Rs. 67.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.