MIRA
INFORM REPORT
|
Report Date : |
18.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SERUM INSTITUTE OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
212/2, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.05.1984 |
|
|
|
|
Com. Reg. No.: |
11-032945 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.48.192 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U80903PN1984PLC032945 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES15736A/ PNES00023C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS4225M |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business
: |
Manufacturers
of Vaccines and Immuno - Biologicals that include Tetanus Toxoid, Diphtheria,
Measles, Mumps, Rubella and Hepatitis-B. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (78) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 82000000 |
|
|
|
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is an old, well established and reputed company specialized in
producing preventive and curative products. Financial position of the company
appears to be sound. Profitability of the company is growing from past several
years. Fundamentals appear to be strong and healthy. Directors are reported
to be experienced and respectable businessmen. Some of them are qualified
doctors. Trade relations are 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.
INFORMATION DECLINED BY
Management Non Co-operative
LOCATIONS
|
Registered Office / Human Resources / International Marketing Division
: |
212/2, Off |
|
Tel. No.: |
91-20-26993900/ 26993904 |
|
Fax No.: |
91-20-26993921/ 26133228 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Domestic Marketing Division : |
501, |
|
Tel. No.: |
91-22-22840370 |
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Fax No.: |
91-22-22044389 |
|
E-Mail : |
|
|
|
|
|
Finance Division: |
Sarosh Bhavan, 16-B/1, |
|
Tel. No.: |
91-20-26137221 |
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Fax No.: |
91-20-26133228 |
|
E-Mail : |
|
|
|
|
|
Administrative Office : |
13/375, Khara Niwas, 2nd Floor, Gurunanak
Nagar, Off |
|
Tel. No.: |
91-20-26993900 |
|
Fax No.: |
91-20-26993921 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at: · Chennai · Kolkata ·
·
·
Vishakapatnam ·
Trivandrum |
DIRECTORS
AS ON 21.09.2011
|
Name : |
Mr. Adar Cyrus Poonawalla |
|
Designation : |
Whole Time Director |
|
Address : |
11, |
|
Date of Birth/Age : |
14.01.1981 |
|
Date of Appointment : |
08.04.2005 |
|
DIN No.: |
00044815 |
|
|
|
|
Name : |
Mr. Behroze Zavareh Poonawalla |
|
Designation : |
Director |
|
Address : |
12, |
|
Date of Birth/Age : |
08.12.1946 |
|
Date of Appointment : |
01.02.1986 |
|
DIN No.: |
00044877 |
|
|
|
|
Name : |
Dr. Cyrus Soli Poonawalla |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
11, |
|
Date of Birth/Age : |
11.05.1941 |
|
Date of Appointment : |
22.05.1984 |
|
DIN No.: |
00044650 |
|
|
|
|
Name : |
Dr. (Mrs.) Mrudula Arvind Phadke |
|
Designation : |
Director |
|
Address : |
181, Buena Vista Soc., Jagannath Bhosale Marg, Near
Mantralaya, Mumbai – 400 021, |
|
Date of Birth/Age : |
22.12.1944 |
|
Date of Appointment : |
25.08.2008 |
|
DIN No: |
01959083 |
|
|
|
|
Name : |
Mr. Satish Ramchandra Mundra |
|
Designation : |
Whole Time Director |
|
Address : |
401, |
|
Date of Birth/Age : |
04.06.1943 |
|
Date of Appointment : |
27.09.1988 |
|
DIN No.: |
00416654 |
|
|
|
|
Name : |
Dr. Suresh Sahkaram Jadhav |
|
Designation : |
Whole Time Director |
|
Address : |
16, Sadhana Society, Near Akashwani, Pune – 411 028, |
|
Date of Birth/Age : |
24.01.1950 |
|
Date of Appointment : |
12.10.1992 |
|
DIN No.: |
00056701 |
|
|
|
|
Name : |
Dr. Subhash Vinayak Kapre |
|
Designation : |
Whole Time Director |
|
Address : |
Golden Blossom, Flat No. 8, 9 and 10, 3rd Floor
Kanchan Galli, Off |
|
Date of Birth/Age : |
28.11.1947 |
|
Date of Appointment : |
12.10.1992 |
|
DIN No.: |
00112145 |
|
|
|
|
Name : |
Mr. Villoo Cyrus Poonawalla |
|
Designation : |
Director |
|
Address : |
11, |
|
Date of Birth/Age : |
30.09.1943 |
|
Date of Appointment : |
01.02.1986 |
|
Date of Ceasing : |
08.06.2010 |
|
|
|
|
Name : |
Mr. Zavareh Soli Poonawalla |
|
Designation : |
Director |
|
Address : |
12, |
|
Date of Birth/Age : |
04.12.1943 |
|
Date of Appointment: |
01.07.2007 |
|
DIN No.: |
00044760 |
KEY EXECUTIVES
|
Name : |
Mr. Makarand Shrikrishna Karkare |
|
Designation : |
Company Secretary |
|
Address : |
A 507, Shilpa Housing Society, 124/ 15A/ 2, Off |
|
Date of Birth/Age : |
30.05.1963 |
|
Date of Appointment : |
08.06.2006 |
|
PAN No.: |
ACDPK4983F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2011
|
Names of Shareholders |
No. of Shares |
|
Poonawalla Investments and Industries Private Limited, |
3244617 |
|
Adar Cyrus Poonwawalla |
249808 |
|
Cyrus Poonwala |
993578 |
|
Corpint Investments Private Limited, |
40 |
|
Fortune Intercontinental Private Limited, |
40 |
|
Zavaray Soli Poonawalla |
240963 |
|
Adar Cyrus Poonwawalla |
57600 |
|
Chanda Investments and Trading Company Private Limited, |
40 |
|
Adurjee and Bros Private Limited, India |
32567 |
|
Total |
4819253 |
AS ON 27.07.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
68.00 |
|
Directors
or relatives of directors |
|
32.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Vaccines and Immuno - Biologicals that include Tetanus Toxoid, Diphtheria,
Measles, Mumps, Rubella and Hepatitis-B. |
||||||||
|
|
|
||||||||
|
Products : |
· Bacterial Vaccines · Viral Vaccines · Antisera · Anticancer Products · Plasma Products · Vaccines · Hepatoprotective · Hormones · Plasma Substitute · Fertility · Bacterial Vaccines · Antisera · Anticancer |
PRODUCTION STATUS (AS
ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Preventive |
Million Doses |
N.A. |
** |
730.06 |
|
Curative |
Million Doses |
N.A. |
** |
4.70 |
** Installed capacities
has not been disclosed as these are variable and subject to changes in product
mix, and utilization of manufacturing facilities, given the nature of
operations.
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
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Bankers : |
·
Bank of ·
Citi Bank N.A., · Corporation Bank · The Hongkong and Shanghai Banking Corporation Limited · The Shamrao Vithal Co-op Bank Limited ·
Bank of ·
Union Bank of ·
American Express Bank Limited, ·
Sadhana Sahakari Bank |
|||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Patki and Soman Chartered Accountants |
|
Address : |
639, Sadashiv Peth, |
|
PAN No.: |
AACFP3742Q |
|
|
|
|
Holding Company : |
Poonnawalla
Investments and Industries Private Limited, CIN No.: U65993MH1974PTC017311 |
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|
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|
Group Companies : |
· Poonawalla Studfarms ·
Intervalve ( ·
El-O-Matic ( · Poonawala Fashion Private Limited |
|
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|
|
|
|
|
Subsidiaries : |
Poonawalla
Aviation Private Limited CIN No.: U35301PN2005PTC020721 SEZ
Biotech Services Private Limited CIN No.: U74999PN2006PTC021820 Fortune
Intercontinental Private Limited CIN No.: U31900PN1990PTC058951 Chakan
Investment Private Limited CIN No.: U65993PN1990PTC054851 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity shares |
Rs.10/- each |
Rs.500.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4819253 |
Equity shares |
Rs.10/- each |
Rs.48.192
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 |
48.192 |
47.473 |
59.342 |
|
|
2] Equity Share Suspense |
0.000 |
0.719 |
0.000 |
|
|
3] Reserves & Surplus |
20514.263 |
16223.310 |
13128.804 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20562.455 |
16271.502 |
13188.146 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2366.248 |
2245.000 |
2536.000 |
|
|
2] Unsecured Loans |
2343.581 |
1756.807 |
2923.594 |
|
|
TOTAL BORROWING |
4709.829 |
4001.807 |
5459.594 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25272.284 |
20273.309 |
18647.740 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8779.733 |
5586.593 |
4856.916 |
|
|
Capital work-in-progress |
1535.208 |
2498.629 |
2146.387 |
|
|
|
|
|
|
|
|
INVESTMENT |
8476.930 |
5362.550 |
7735.522 |
|
|
DEFERREX TAX ASSETS |
363.670 |
165.957 |
197.600 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3329.672 |
2680.167 |
2523.349 |
|
|
Sundry Debtors |
1664.929 |
1942.457 |
1533.074 |
|
|
Cash & Bank Balances |
508.589 |
1205.488 |
703.417 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
2242.265 |
1901.300 |
837.940 |
|
Total
Current Assets |
7745.455 |
7729.412 |
5597.780 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
533.533 |
319.922 |
424.635 |
|
|
Other Current Liabilities |
724.804 |
556.715 |
809.985 |
|
|
Provisions |
370.375 |
193.195 |
651.845 |
|
Total
Current Liabilities |
1628.712 |
1069.832 |
1886.465 |
|
|
Net Current Assets |
6116.743 |
6659.580 |
3711.315 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25272.284 |
20273.309 |
18647.740 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9054.615 |
7058.449 |
10924.678 |
|
|
|
Other Income |
1363.273 |
1190.538 |
82.266 |
|
|
|
TOTAL (A) |
10417.888 |
8248.987 |
11006.944 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
1043.985 |
1268.137 |
|
|
|
|
Manufacturing Service Costs |
629.397 |
483.248 |
|
|
|
|
Employee Related Expenses |
1748.764 |
1143.273 |
|
|
|
|
Administrative Selling Other Expenses |
1797.280 |
1562.592 |
|
|
|
|
Prior Period Items |
(0.935) |
(0.348) |
|
|
|
|
TOTAL (B) |
5218.491 |
4456.902 |
6257.084 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5199.397 |
3792.085 |
4749.860 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
101.686 |
202.149 |
252.825 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5097.711 |
3589.936 |
4497.035 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
673.735 |
536.085 |
488.058 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4423.976 |
3053.851 |
4008.977 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
86.246 |
182.351 |
141.726 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4337.730 |
2871.500 |
3867.251 |
|
|
|
|
|
|
|
|
|
|
Prior period adjustments |
0.000 |
0.000 |
5.704 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7689.146 |
6317.646 |
5430.680 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2000.000 |
1500.000 |
2500.000 |
|
|
|
Proposed Dividend |
|
0.000 |
415.392 |
|
|
|
Tax on Dividend |
|
0.000 |
70.596 |
|
|
BALANCE CARRIED
TO THE B/S |
10181.499 |
7689.146 |
6317.647 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B Value of Exports |
NA |
4470.412 |
8076.250 |
|
|
TOTAL EARNINGS |
NA |
4470.412 |
8076.250 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
471.888 |
341.980 |
452.005 |
|
|
|
Spare Parts & Components |
92.159 |
129.204 |
150.824 |
|
|
|
Capital Goods |
1163.292 |
391.135 |
682.922 |
|
|
TOTAL IMPORTS |
1727.339 |
862.319 |
1285.751 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
900.08 |
604.79 |
6516.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
41.64
|
34.81
|
35.13
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
48.86
|
43.27
|
36.70
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.77
|
22.93
|
38.35
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.19
|
0.30
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.31
|
0.31
|
0.56
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.76
|
7.22
|
2.97
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
|
|
|
|
- Due others |
533.533 |
319.922 |
424.635 |
|
|
|
|
|
|
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 |
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 |
Yes |
|
30) Major Shareholders, if available |
Yes |
FINANCIAL HIGHLIGHTS
The Company has registered a total turnover of Rs. 10417.890 millions for the financial year 2010-11.
Considering the growth requirements of the Company in the coming years, the Directors have decided to plough back the profits of the Company into the business and hence, no dividend is recommended.
The Directors propose to carry Rs. 2000.000 millions to General Reserve.
CONTINGENT
LIABILITIES NOT PROVIDED FOR
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. in millions) |
|
|
|
|
|
|
Bank Guarantees |
114.035 |
121.239 |
|
Disputed Liabilities |
|
|
|
i. Excise / Service Tax |
39.698 |
35.489 |
|
ii. Income Tax |
8.659 |
68.146 |
The Company has given corporate guarantee for external commercial borrowing made by its Subsidiary Poonawalla Aviation Private Limited Outstanding Loan amount as on 31st March, 2011 is Rs.1051.500 Millions
FIXED ASSETS:
·
·
Buildings (Including
Technical Know-How)
·
R and D
·
Others
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Aircraft/ Helicopters
·
Vehicles
·
Computer Software
·
Intellectual Property
Rights
·
Product Development
PRESS RELEASE:
Bill Gates visits
Serum Institute, meets vaccine hero Poonawalla
Friday, June 1, 2012
Pune: Bill Gates on Thursday visited the Serum Institute of India in Pune, met its CMD Dr. Cyrus Poonawalla whom he referred to as one of the seven vaccine heroes, and evinced interest in several products it is developing, “It’s great to be here and there are many new products the Foundation is interested in,” he Microsoft founder and co-chair of the Bill and Melinda Gates Foundation said in an interaction with the media.
Gates is likely to cement ties with the Institute for developing an injectable polio vaccine, more effective than polio drops.
Gates expressed interest in the Human Papilloma Virus (HPV) vaccine being developed at the Institute. “There is a need for cost-effective vaccines against various infectious diseases and the Foundation is interested in several new products developed at the Serum Institute...,” Gates said.
The Institute which exports to 130 nations is also developing affordable rotavirus and pneumococcal vaccines for Global Alliance for Vaccines and Immunization (GAVI). Clinical trials are being funded by the Foundation. “Serum has played an important role in offering the vaccines at low prices,” Gates said.
“Cyrus Poonawalla is among the seven vaccine heroes and is a multiple winner with vaccines against measles and others. He has deeply affected the vaccine world and people are dependent on the quality work done at Serum,” Gates said.
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 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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
78 |
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.