MIRA
INFORM REPORT
|
Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
BENZO CHEM INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Madhu Kunj, Off |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.12.1986 |
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|
|
|
Com. Reg. No.: |
11-041751 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.70.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1986PTC041751 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB11878G |
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PAN No.: [Permanent Account No.] |
AAACB3369G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Intermediates. |
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No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2100000 |
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|
Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Directors are reported as experienced, respectable businessmen. Their trade relations are fair. Payments are correct and as per commitments. The company can be considered good for normal 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 PARTED BY
|
Name : |
Mr. Pawan |
|
Designation : |
Exim Manager |
|
Contact No.: |
91-22-43555888 |
|
Date : |
02.05.2012 |
LOCATIONS
|
Registered Office : |
Madhu Kunj, Off Sayani Road, Shankar Ghanekar Marg, Prabhadevi, Mumbai
– 400025, Maharashtra, India |
|
Tel. No.: |
91-22-24320921 / 22 / 23 / 43555888 |
|
Fax No.: |
91-22-24320924 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
E-13 / 14, MIDC Area, Jalgaon- 425003, Maharashtra, India |
|
Tel. No.: |
91-257-2210241 |
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Fax No.: |
91-257-2210441 |
|
Area : |
8100 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
B-26/27, MIDC Area, Dasarkhed, Malkapur - 443101, Buldhana, Maharashtra, India |
|
Tel. No.: |
91-7267-252365 |
|
Fax No.: |
91-7267-252341 |
|
Area : |
24000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
Gitanjali Chemicals Private Limited F-35, MIDC Area, Jalgaon-425003, Maharashtra, India |
|
Tel. No.: |
91-257-2210041/2272841 |
|
|
|
|
Factory 4 : |
W-24, MIDC, Chemical Zone, Ambernath [West] - 421501, India |
|
Tel. No.: |
91-251-2604616 / 2607228 |
|
|
|
|
Factory 5 : |
B-24/25, MIDC, Dasharkhed, District Budhana, Malkapur – 443101, Maharashtra, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Surendra Kumar Mohatta |
|
Designation : |
Director |
|
Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
01.09.1955 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.12.1986 |
|
DIN No.: |
00388893 |
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|
|
|
Name : |
Mr. Gaurav Mohata |
|
Designation : |
Director |
|
Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
03.07.1981 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
00604061 |
|
|
|
|
Name : |
Mrs. Vimladevi Mohatta |
|
Designation : |
Director |
|
Address : |
31, Lotus Court, J. Tata Road, Churchgate, Mumbai – 400020, Maharashtra, India |
|
Qualification : |
B. Com |
|
Date of Appointment : |
10.11.1987 |
|
DIN No.: |
01637277 |
KEY EXECUTIVES
|
Name : |
Mr. Pawan |
|
Designation : |
Exim Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Ravi Kumar Mohatta HUF |
|
298500 |
|
Surendra Kumar Mohatta |
|
515000 |
|
Madhu Mohatta and S K Mohatta |
|
196500 |
|
Vimladevi Mohatta |
|
547000 |
|
Surendra Kumar Mohatta HUF |
|
540000 |
|
Satyawatidevi Mohatta |
|
18000 |
|
Gaurav Rubber Works Private Limited, India |
|
585000 |
|
Gaurav Mohatta |
|
570000 |
|
Gitanjali Chemicals Private Limited, India |
|
316500 |
|
Surendra Kumar Mohatta |
|
540000 |
|
Ravi Kumar Mohatta |
|
298500 |
|
Madhu Mohatta |
|
398500 |
|
Surendra Kumar Mohatta |
|
479500 |
|
Gaurav Mohatta HUF |
|
298500 |
|
Ishita Mohatta |
|
398500 |
|
Total |
|
6000000 |
As on 30.09.2011
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Gitanjali Chemicals Private Limited, India |
|
500000 |
|
Surendra Kumar Mohatta & Ravi Kumar Mohatta |
|
500000 |
|
Total |
|
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
11.75 |
|
Directors or relatives of Directors |
88.25 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Intermediates. |
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Products : |
·
Bulk Drugs / API’S ·
Phenol Derivatives ·
Benzaldhyde Derivatives Aldehyde Derivatives ·
Benzyl Alcohol Derivatives ·
Speciality Products ·
Biocides ·
Benzyl Chloride Derivatives ·
Benzyl Cyanide Derivatives ·
Phenyl Acetic Acid Derivatives |
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Exports : |
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Products : |
Pharmaceutical Intermediates |
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Countries : |
·
Germany ·
France ·
Britain ·
Japan ·
Spain ·
Italy |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Netherland ·
Japan |
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Terms : |
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Selling : |
L/C/ Cash/ Credit (30 – 60 days) |
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Purchasing : |
L/C/ Cash/ Credit (30 – 60 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Various Organic and In-Organic Products |
MT |
3400.827 |
NOTE:
1. The Aggregate installed
capacity of the plants is inherently of a versatile and multi purpose nature
and fluctuates according to the mix of the production programme. However the
same is estimated on an empirical basis as follows which is certified by a
director and relied upon by the auditors.
|
JALGAON UNIT |
1100 M. T. P. A. |
|
MALKAPUR UNIT-I |
1100 M. T. P. A. |
|
MALKAPUR UNIT-II |
1800 M. T. P. A. |
2. Out of the above production the under mentioned quantities have been used
as captive consumption in further processing.
|
PRODUCT NAME |
MT |
|
Various Organic and In-Organic Products |
562.275 |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
Canara Bank, Shishu Mandir Building, 12 G. S. Lane, Parel, Mumbai –
400012, Maharashtra, India |
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Facilities : |
Cash Credit – Rs.30.000 Millions, Packing Credit – Rs.110.000 Millions,
Import LC – Rs.80.000 Millions and Bank Guarantee – Rs.15.000 Millions
|
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Saboo and Company Chartered Accountants |
|
Address : |
D-9/002, Yogi Nagar, Eksar Road, Borivali (West), Mumbai-400091,
Maharashtra, India |
|
Tel. No.: |
91-22-28980943/28983624 |
|
Fax No.: |
91-22-28983624 |
|
PAN.: |
AKMPS8826N |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
TOTAL |
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
TOTAL |
|
Rs.70.000
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 |
70.000 |
35.000 |
35.000 |
|
|
2] Share Application Money |
0.000 |
35.000 |
35.000 |
|
|
3] Reserves & Surplus |
464.839 |
305.600 |
139.012 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
534.839 |
375.600 |
209.012 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
176.586 |
157.223 |
78.371 |
|
|
2] Unsecured Loans |
92.629 |
109.468 |
124.517 |
|
|
TOTAL BORROWING |
269.215 |
266.691 |
202.888 |
|
|
DEFERRED TAX LIABILITIES |
30.571 |
22.686 |
13.067 |
|
|
|
|
|
|
|
|
TOTAL |
834.625 |
664.977 |
424.967 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
464.047 |
381.970 |
273.029 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.566 |
18.850 |
3.850 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
143.819
|
131.027
|
66.604
|
|
|
Sundry Debtors |
278.669
|
160.875
|
111.559
|
|
|
Cash & Bank Balances |
6.043
|
20.746
|
17.406
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
156.367
|
112.910
|
80.412
|
|
Total
Current Assets |
584.898
|
425.558 |
275.981
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
123.296
|
73.948
|
79.524
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
95.860
|
87.791
|
48.791
|
|
Total
Current Liabilities |
219.156
|
161.739 |
128.315
|
|
|
Net Current Assets |
365.742
|
263.819 |
147.666
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.270 |
0.338 |
0.422 |
|
|
|
|
|
|
|
|
TOTAL |
834.625 |
664.977 |
424.967 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1058.363 |
1047.272 |
736.027 |
|
|
|
Other Income |
|
1.274 |
1.279 |
|
|
|
TOTAL (A) |
1058.363 |
1048.546 |
737.306 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
495.029 |
440.275 |
|
|
|
Manufacturing Expenses |
|
132.768 |
70.387 |
|
|
|
Employees Remuneration |
|
40.243 |
30.439 |
|
|
|
Increase/(Decrease) in Finished Goods |
841.550 (including
financial expenses) |
(7.589) |
(11.307) |
|
|
|
Preliminary Expenses W/off |
0.084 |
0.096 |
|
|
|
|
Other Expenditure |
106.193 |
88.738 |
|
|
|
|
TOTAL (B) |
|
766.728 |
618.628 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
281.818 |
118.678 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
35.151 |
13.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
216.813 |
246.667 |
105.572 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.612 |
23.914 |
8.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
183.201 |
222.753 |
97.299 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.100 |
39.000 |
27.685 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
176.101 |
183.753 |
69.614 |
|
|
|
|
|
|
|
|
|
Less |
Prior Period
Expenses |
0.202 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
Provision for
Deferred Tax |
7.885 |
9.619 |
7.577 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
188.800 |
42.212 |
7.721 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
20.000 |
20.000 |
|
|
|
Dividend Tax |
1.250 |
1.096 |
1.096 |
|
|
|
Proposed
Dividend (Equity Shares) Subject to Tax |
7.000 |
6.000 |
6.000 |
|
|
|
Proposed
Dividend (Preference Shares) Subject to Tax |
0.525 |
0.450 |
0.450 |
|
|
BALANCE CARRIED
TO THE B/S |
328.039 |
188.800 |
42.212 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on FOB basis |
NA |
709.205 |
447.221 |
|
|
TOTAL EARNINGS |
NA |
709.205 |
447.221 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Value of Imports on CIF Basis |
NA |
334.413 |
232.972 |
|
|
TOTAL IMPORTS |
NA |
334.413 |
232.972 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.80 |
61.25 |
23.20 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1750.000 (Expansion of
Business) |
|
|
|
|
|
Expected Sales (2012-13) : Rs.2000.000 Millions
The above information has been parted by Mr. Pawan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
16.64
|
17.52
|
9.44
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
21.27
|
13.22
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.47
|
27.58
|
17.72
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.59
|
0.46
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
1.14
|
1.58
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.67
|
2.63
|
2.15
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Creditors due
small micro enterprises |
123.296 |
73.948 |
79.524 |
|
Creditors due
others |
0.000 |
0.000 |
0.000 |
|
Total |
123.296 |
73.948 |
79.524 |
|
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 |
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 |
No |
|
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 |
-- |
|
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 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24100MH1986PTC041751 |
|
Name of the
company |
BENZO CHEM
INDUSTRIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Madhu Kunj, Off
Sayani Road, Shankar Ghanekar Marg, Prabhadevi, Mumbai-400025, Maharashtra,
India Email : msaboo898@yahoo.co.in |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
90235809 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Canara Bank, Shishu Mandir Building, 12 G. S. Lane, Parel, Mumbai –
400012, Maharashtra, India Email : vlaxman@vsnl.com |
|
Nature of
instrument creating charge |
Supplemental
Common Hypothecation Agreement |
|
Date of
instrument Creating the charge |
18.08.2011 |
|
Amount secured by
the charge |
Rs.385.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as may be
stipulated by Bank from time to time Terms of
Repayment Working Capital
facility shall be repayable on Demand Term Loan shall
be repayable in suitable installments Margin As may be
stipulated by Bank from time to time Extent and
Operation of the charge The Company
hypothecates to and charges in favour of the Bank, all the company's Assets as security for
due payment of the credit facilities together with interest, costs and other
charges payable by company to the Bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
machinery described the Supplemental Common Hypothecation Agreement dated
18th August, 2011 Primary Security
for OCC: Hypothecation on Company's entire Stocks of Raw Material, Semi
Finished and Finished Goods. Primary Security
for Term Loan: E 13/14 MIDC Area,
Jalgaon and B 26/27, MIDC Area, Dasarkhed, Malkapur. Collateral
Security: Plot No.13, 14, Area Jalgaon, admg 4050 sq.mt. each, Plot No.24-25
MIDC Dasarkhed, Malkapur, Plot No.26-27 MIDC Dasarkhed, Malkapur admg. 24800
sq.mt., machineries,
Ambernath property at MIDC Area Shed
at W-24, Chemical Zone, Ambernath, India |
|
Date of
instrument modifying the charge |
05.03.2010 |
|
Particulars of the
present modification |
The charge shall
now stand reduced upto Rs.385.000 Millions (comprising CC of Rs.30.000
Millions, FLC/LC of Rs.80.000 Millions,
Guarantee of Rs.15.000 Millions, PC/FDB/FBE of Rs.110.000 Millions and
TL of Rs.150.000 Millions) |
OPERATIONS:
The working of the
units at Jalgaon and Malkapur was satisfactory during the year. The working of
the new unit at Malkapur (EOU Unit) was also satisfactory. The profits earned from
this new EOU unit of the company would be exempt from the income tax. The
Company continued its efforts to develop new products at its R and D centre at
Ambernath, Mumbai.
The Company has
achieved a sales turnover of Rs.1058.363 Millions as against Previous Year
Rs.1048.547 Millions and has earned net profit of Rs.183.201 Millions as
against Previous Year of Rs.227.554 Millions.
Fixed Assets:
·
Advance for Office
·
Leasehold Land
·
Factory Building
·
Plant and Machinery
·
Miscellaneous Machinery
·
Electrical Installation
·
Furniture and Fixtures
·
Office Equipment
·
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, India Prisons Service,
Interpol, etc.
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.52.93 |
|
UK Pound |
1 |
Rs.85.85 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
CTI |
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 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.