MIRA
INFORM REPORT
|
Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
LONSEN KIRI CHEMICAL INDUSTRIES LIMITED (w.e.f. 31.07.2008) |
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Formerly Known
As : |
LONSEN KIRI CHEMICAL INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
7th Floor, Hasubhai Chambers, |
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Country : |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
09.04.2008 |
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Com. Reg. No.: |
04-053537 |
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Capital
Investment / Paid-up Capital : |
Rs.830.000 Millions |
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CIN No.: [Company Identification
No.] |
U24114GJ2008PLC053537 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHML01153F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Dye Stuffs. |
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No. of Employees
: |
200 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3400000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture between Kiri Dyes and Chemicals Limited and
well Prospering Limited. It is an established company having moderate track records. The company
has imported its performance in the year 2010. The company has successful in
wiping off the accumulated losses of previous year. Trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for small to mediocre 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.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Rahul Gupta |
|
Designation : |
Finance Manager |
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Contact No.: |
91-9099984694 |
|
Date : |
25.07.2012 |
LOCATIONS
|
Registered Office : |
7th Floor, Hasubhai Chambers, |
|
Tel. No.: |
91-79-26574371/ 72/ 73 |
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Mobile No.: |
91-9099984694 (Mr. Rahul Gupta) |
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Fax No.: |
91-79-26475374 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.498, 577/B, 584/B, 585, 586, 587, 588, 589 Village Dushwada,
Padra, Vadodara- 391 450, |
DIRECTORS
As on 30.06.2011
|
Name : |
Mr. Manish Pravinbhai Kiri |
|
Designation : |
Managing Director |
|
Address : |
53, Manekbaug society, |
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Date of Birth/Age : |
26.12.1972 |
|
Date of Appointment : |
09.04.2008 |
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Voter ID No.: |
IIE2224749 |
|
DIN No.: |
00198284 |
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Name : |
Mr. Pravinbhai Amratlal Kiri |
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Designation : |
Director |
|
Address : |
53, Manek Baug Society, Satellite Road, Ambawadi-380 015, Gujarat,
India |
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Date of Birth/Age : |
01.11.1945 |
|
Date of Appointment : |
09.04.2008 |
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Voter ID No.: |
GJ/11/068/251611 |
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DIN No.: |
00198275 |
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Name : |
Han J. Gong |
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Designation : |
Director |
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Address : |
8-701, No.567, East Jin, AN- Road, Shanghai City, Huamu Town - 201
204, Pudong District -201204 |
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Date of Birth/Age : |
19.09.1971 |
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Date of Appointment : |
09.07.2008 |
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DIN No.: |
02147775 |
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Name : |
Mr. Sheng B. Chang |
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Designation : |
Director |
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Address : |
No.20, Zheda road, |
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Date of Birth/Age : |
17.03.1974 |
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Date of Appointment : |
09.07.2008 |
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DIN No.: |
02147753 |
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|
Name : |
Mr. Yalin Xu |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Mital Ramniklal Jani |
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Designation : |
Secretary |
|
Address : |
13, Adarsh Society, Meghaninagar, Ahmedabad-380016, Gujarat, India |
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Date of Birth/Age : |
14.11.1987 |
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Date of Appointment : |
01.12.2010 |
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PAN No.: |
AMFPJ5827K |
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|
|
Name : |
Mr. Rahul Gupta |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Names of Shareholders |
No. of Shares |
|
Kiri Industries Limited, India |
29999998 |
|
Well Prospering Limited, |
44999997 |
|
Kiri Industries Limited, India Jointly
with Pravin Kiri |
1 |
|
Kiri Industries Limited, India Jointly with Manish Kiri |
1 |
|
Well Prospering Limited, |
1 |
|
Well Prospering Limited, |
1 |
|
Well Prospering Limited, Central Hong Kong Jointly with Han Gong |
1 |
|
Total |
75000000 |
As on30.06.2011
|
Names of Preference Shareholders |
No. of Shares |
|
Kiri Industries Limited, India |
3200000 |
|
Well Prospering Limited, |
4800000 |
|
Total |
8000000 |
As on 16.08.2011
|
Names of Allottees (5% Non Cumulative Redeemable Preference Shares) |
No. of Shares |
|
Well Prospering Limited |
18000000 |
|
Kiri Industries Limited, India |
12000000 |
|
Total
|
30000000 |
As on 30.06.2011
|
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 |
60.00 |
|
Bodies corporate |
40.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Dye Stuffs. |
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Products : |
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Exports : |
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Products : |
Dye Stuff |
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Countries : |
·
China ·
USA ·
Taiwan ·
Brazil ·
Mexico ·
Singapore |
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Imports |
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Products : |
Raw Material |
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Countries : |
·
China |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days and 60 days) |
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Purchasing : |
L/C, Cash and Credit (30 days and 60 days) |
PRODUCTION STATUS
As on 31.12.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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|
Dyes |
Kgs. |
Not Available |
Not Available |
9369983.66 |
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GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
200 (Approximately) (In Office + In Factory) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V. D. Shukla and Company Chartered Accountants |
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Address : |
22A Akruti Society, |
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Tel. No.: |
91-79-26445335 |
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Fax No.: |
91-79-26445335 |
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E-Mail : |
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Holding Company : |
·
Well Prospering Limited |
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Joint Ventures : |
·
Kiri Industries Limited ·
Well Prospering Limited |
CAPITAL STRUCTURE
After 30.06.2011
Authorised Capital : Rs.1500.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.1305.000 Millions
AS ON 30.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80000000 |
Equity Shares |
Rs.10/- each |
Rs.800.000 Millions |
|
70000000 |
Preference Shares |
Rs.10/- each |
Rs.700.000 Millions |
|
|
Total |
|
Rs.1500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000
Millions |
|
8000000 |
6% Non Cumulative Redeemable Preference
Shares |
Rs.10/- each |
Rs.80.000
Millions |
|
30000000 |
5% Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.300.00
Millions |
|
113000000 |
Total |
|
Rs.1130.000 Millions |
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
80000000 |
Equity Shares |
Rs10/- each |
Rs.800.000 Millions |
|
70000000 |
Preference Shares |
Rs.10/- each |
Rs.700.000 Millions |
|
|
Total |
|
Rs.1500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000
Millions |
|
8000000 |
6% Non Cumulative Redeemable Preference
Shares |
Rs.10/- each |
Rs.80.000
Millions |
|
|
Total |
|
Rs.830.000 Millions |
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 |
830.000 |
550.000 |
83.075 |
|
|
2] Share Application Money |
18.576 |
0.000 |
81.576 |
|
|
3] Reserves & Surplus |
5.006 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(51.459) |
0.000 |
|
|
NETWORTH |
853.582 |
498.541 |
164.651 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
342.451 |
326.223 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.158 |
|
|
TOTAL BORROWING |
342.451 |
326.223 |
0.158 |
|
|
DEFERRED TAX LIABILITIES |
70.441 |
55.685 |
0.000 |
|
|
|
|
|
|
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TOTAL |
1266.474 |
880.449 |
164.809 |
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APPLICATION OF FUNDS |
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|
|
|
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FIXED ASSETS [Net Block] |
792.780 |
708.627 |
35.712 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
376.941
|
289.295 |
0.000 |
|
|
Sundry Debtors |
150.236
|
270.443 |
0.000 |
|
|
Cash & Bank Balances |
64.102
|
21.357 |
0.000 |
|
|
Other Current Assets |
0.240
|
2.773 |
136.932 |
|
|
Loans & Advances |
146.069
|
53.233 |
0.000 |
|
Total
Current Assets |
737.588
|
637.101 |
136.932 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
132.845
|
226.171 |
11.739 |
|
|
Other Current Liabilities |
116.152
|
233.194 |
0.000 |
|
|
Provisions |
19.253
|
6.092 |
0.000 |
|
Total
Current Liabilities |
268.250
|
465.457 |
11.739 |
|
|
Net Current Assets |
469.338
|
171.644 |
125.193 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
4.656 |
0.178 |
0.200 |
|
|
Pre Operative Expenses |
0.000 |
0.000 |
3.704 |
|
|
|
|
|
|
|
|
TOTAL |
1266.474 |
880.449 |
164.809 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1260.466 |
398.745 |
0.000 |
|
|
|
Export Incentives and Other Income |
27.244 |
16.512 |
0.000 |
|
|
|
TOTAL (A) |
1287.710 |
415.257 |
0.000 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
904.938 |
460.539 |
0.000 |
|
|
|
Payment to and provisions for Employees |
21.617 |
7.422 |
0.152 |
|
|
|
Manufacturing Expenses |
159.476 |
60.294 |
0.061 |
|
|
|
Administrative Expenses |
14.420 |
20.338 |
3.048 |
|
|
|
Selling and Distribution Expenses |
35.305 |
11.804 |
0.051 |
|
|
|
Preliminary Expenses written/off |
0.022 |
0.022 |
0.021 |
|
|
|
Exceptional Items |
0.000 |
(9.763) |
0.000 |
|
|
|
Difference In inventories |
(6.687) |
(163.727) |
0.000 |
|
|
|
TOTAL (B) |
1129.091 |
386.929 |
3.333 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
158.619 |
28.328 |
(3.333) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
52.286 |
8.701 |
0.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
106.333 |
19.627 |
(3.663) |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.129 |
15.401 |
0.041 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F)
(G) |
73.204 |
4.226 |
(3.704) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.731 |
55.685 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX (G-H) (I) |
57.473 |
(51.459) |
(3.704) |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEMS |
1.009 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(51.459) |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.005 |
(51.459) |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
967.503 |
386.434 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
642.369 |
259.336 |
0.000 |
|
|
|
Stores & Spares |
0.000 |
49.432 |
0.000 |
|
|
TOTAL IMPORTS |
642.369 |
308.768 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.01 |
(1.36) |
-- |
|
|
Particulars |
|
|
31.12.2011 |
|
Sales Turnover (Approximately) |
|
|
570.000 |
|
|
|
|
(Due to market
fluctuation and business restructure) |
Expected Sales (2012-December) : Rs.1500.000 Millions
The above information has been parted by Mr. Rahul Gupta
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
4.46
|
(12.39) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.81
|
1.06 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.99
|
0.31 |
(2.15) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.01 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80
|
1.59 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.75
|
1.38 |
11.66 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
Sundry Creditors |
|
|
|
|
For Goods |
107.454 |
169.879 |
|
|
For Expenses |
8.922 |
5.749 |
|
|
For Capital Goods |
16.469 |
50.543 |
|
|
Total |
132.845 |
226.171 |
11.739 |
|
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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% |
Yes |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
FINANCIAL
PERFORMANCE:
The Company has performed
with an impressive top line growth and high quality earnings. The net turnover
of the Company during the year 2010 increased to Rs.1260.466 Millions as compared to Rs.598.746 Millions of
previous year showing an increase of 216.11%. The Net Profit for the year 2010
stands to Rs.56.464 Millions as compared Loss of Rs.51.459 Millions of previous year. The
directors are hopeful to achieve better performance in future.
FUTURE PROSPECTS:
The Company is in
process to set up the new plant for manufacturing of Levafix Special Dye with
an initial capacity of 3000 MTPA. The
estimated cost of the entire project will be Rs.650.000 Millions which will be funded by the
shareholders fund by issuing 5% Non Cumulative Redeemable Preference Shares of
the Company. The company is planning to start its commission from September,
2011.
FORM 8
|
Corporate
identity number of the company |
U24114GJ2008PLC053537 |
|
Name of the
company |
LONSEN KIRI
CHEMICAL INDUSTRIES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
7th Floor, Hasubhai Chambers, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Union Bank of India , Ashram Road Branch, C. U. Shah Chambers, Nr.
Gujarat Vidhyapith, Ashram Road,, Ahmedabad - 380014, Gujarat, India |
|
Nature of
instrument creating charge |
Term Loan Agreement
(Hypothecation of Movables) |
|
Date of
instrument Creating the charge |
27.06.2011 |
|
Amount secured by
the charge |
Rs. 37.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 16% p.a. with
monthly rests Terms of repayment 48 monthly
installments of Rs. 7,81,250/- commencing from October, 2011 Margin 25% Extent and operation of the charge First Charge |
|
Short particulars
of the property charged (Including location of the property) |
Storage/mixing
vessels purchased out of bank finance at company's premises at plot No. 498,
500, 545, 577/B,584/B, 585, 586, 587, 588, 589 at Village: Dudhwada, Taluka:
Padra, District :Vadodara, Gujarat. |
CONTINGENT LIABILITIES
(AS ON 31.12.2010) :
Outstanding LC - Rs.7.612 Millions
Guarantees given by Banks on behalf of the Company for various purposes
- Rs.13.850 Millions
FIXED ASSETS:
·
Land
·
Furniture and Fixture
·
Computers
·
Vehicles
·
Office Equipments
·
Plant and Machinery
·
Building
PRESS RELEASE:
LONSEN-KIRI EYES RS 4000.000 MILLIONS TOPLINE BY 2009-10
THURSDAY, JUL 26, 2012
Kiri-Zhejiang Lonsen Group ink agreement.
Riding high on strong demand of dyes and
dyestuff in the global markets, Lonsen-Kiri Chemical Industries Limited, a
joint venture between Chinese dye-maker Zhejiang Lonsen Group and
Ahmedabad-based Kiri Dyes and Chemicals Limited (KDCL), hopes to achieve a
topline of Rs. 4000.000 Millions on standalone basis in the first year of its
operations.
KDCL and Lonsen, through their joint venture,
are setting up India's largest dye and dyestuff manufacturing facility,
construction of which was kicked off today at Padra near Vadodara.
The greenfield unit, claimed to be the world's
second largest dye manufacturing facility, is slated to be operational by April
2009. "We expect a topline of Rs. 4000.000 Millions and bottomline of Rs.
350.000 to Rs. 400.000 Millions within a year once the unit gets commissioned
next year," said Manish Kiri, managing director, KDCL.
Considering the robust demand of dyes in the
export market, both the joint venture partners on September 2 inked an
agreement to scale up the production capacity of the upcoming unit to 50,000
tonnes per annum in the first year. "Earlier, it was decided to have
20,000 tonnes per annum capacity in the first year but now it will be 50,000
tonnes per annum," he added.
"We are expecting to significantly
increase our market share globally by minimum 10% with exports from India. Our facility
will be 100% export oriented and the main focus will be to serve markets
outside India," said Lonsen-Kiri Chemical Industries Limited chairman
Xiang Zhi Feng, who was in Gujarat to attend the foundation stone laying
ceremony along with 30 senior officials of Zhejiang Lonsen Group.
"Kiri group's topline is expected to be
around Rs. 8000.000 Millions by the end of fiscal 2009-10 after the
commissioning of the new plant," Manish Kiri added.
The 60:40 joint venture between Lonsen Group
and KDCL is expected to pump in Rs. 4000.000 Millions for the new unit over the
period of next three years. The total production capacity will be 60,000 tonnes
per annum with 50,000 tonnes being added in the first year itself.
It may be mentioned here that Lonsen Group
currently operates world's largest dyes and dyestuff manufacturing facility in
China. The plant has 200,000 tonnes per annum capacity, while the Vadodara
plant will be the second largest in the world with annual production capacity
of 60,000 tonnes
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] 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.56.38 |
|
|
1 |
Rs.87.44 |
|
Euro |
1 |
Rs.68.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.