MIRA
INFORM REPORT
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Report Date : |
07.11.2012 |
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Tel. No.: |
(91)-9929588804 |
IDENTIFICATION DETAILS
|
Name : |
ADM AGRO INDUSTRIES KOTA AND AKOLA PRIVATE LIMITED (w.e.f. 03.11.2011) |
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Formerly Known
As : |
GEEPEE AGRI PRIVATE LIMITED (w.e.f. 16.07.2009) NOBLE GRAIN INDIA PRIVATE LIMITED |
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Registered
Office : |
B-1, Defence Colony, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
29.04.1991 |
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Com. Reg. No.: |
55-205408 |
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Capital
Investment / Paid-up Capital : |
Rs.577.905 millions |
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CIN No.: [Company Identification
No.] |
U15493DL1991PTC205408 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in
the business of manufacturing/extraction/trading and refining of edible oils
from oil seeds. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 1489000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appear
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 (PARTIAL DETAILS)
|
Name : |
Mr. Sumit |
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Designation : |
Account Department |
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Contact No.: |
91-124-4937800 |
LOCATIONS
|
Registered Office : |
B-1, Defence Colony, |
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Tel. No.: |
91-11-23354904 |
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Fax No.: |
91-120-4762444 |
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E-Mail : |
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Website : |
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Head Office : |
LOCATED AT Gurgaon, |
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Branch Office 1 : |
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Branch Office 2 : |
N-55, MIDC, Phase IV, Village Shivani, District |
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Tel. No.: |
91-724-2259012-15 |
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Fax No.: |
91-724-2259091 |
DIRECTORS
|
Name : |
Mr. Amit Bhuttan |
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Designation : |
Director |
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Name : |
Mr. C.S. Sharma |
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Designation : |
Director |
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Name : |
Mr. Peter Frieling |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Rajendra Kumar Gupta |
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Designation : |
Secretary |
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Address : |
F-615, Indra Vihar, |
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Date of Birth/Age : |
07.02.1940 |
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Date of Appointment : |
20.04.2006 |
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PAN : |
ABVPG0893K |
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Name : |
Mr. Sumit |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2011
|
Names of Shareholders |
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No. of Equity Shares |
|
Siam Stock Holdings Limited, |
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33142138 |
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Arwind Silk Mills Private Limited, |
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235849 |
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Illingworth Marketing Private Limited, |
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660377 |
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Mahendra Kumar Mansignka |
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1415094 |
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Maneesh Mansignka |
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141510 |
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Rita Mansingka |
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141509 |
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Shweta Mansingka |
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141509 |
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Mahendra Kumar Mansignka (HUF) |
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94340 |
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TOTAL |
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35972326 |
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Names of Shareholders |
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No. of Preference
Shares |
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India Agri business Fund Limited, |
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21741818 |
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Real |
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76364 |
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TOTAL |
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21818182 |
AS ON 30.06.2011
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Equity Share
Break Up Category |
Percentage |
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Bodies corporate |
94.62 |
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Directors or relatives of Directors |
5.38 |
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TOTAL |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in
the business of manufacturing/extraction/trading and refining of edible oils
from oil seeds. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2011)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
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Solvent Plant – extraction of vegetables oils |
M.T. |
450000 |
450000 |
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Refined vegetables oils |
M.T. |
93000 |
60000 |
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Pungent and expeller oils |
M.T. |
60000 |
60000 |
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Particulars |
Unit |
Actual
Production |
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De-oiled Cake |
M.T. |
180,586 |
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Vegetable Crude / degummed oil |
M.T. |
9,140 |
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Refined oil |
M.T. |
33,229 |
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Pungent oil* |
M.T. |
2,805 |
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Oiled cake |
M.T. |
398 |
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*Includes Nil MT Mustard Pungent Oil produced during trial run
operation |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Walker Chandiok and Company Chartered Accountants |
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Address : |
L 41, Cannaught Circus, |
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Tel. No.: |
91-11-42787070 |
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Fax No.: |
91-11-42787071 |
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E-Mail : |
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PAN No : |
AAAFW4298E |
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Ultimate Holding Company: |
Noble Group Limited, |
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Holding Company : |
·
Ramsgate Associates Limited * ·
Siam Stock Holdings Limited ** |
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Fellow Subsidiary Company : |
·
Noble Resource Pte Limited, ·
Noble Resources and Trading
India Private Limited * ·
Noble Resources S A |
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Enterprises owned or
significantly influenced by key management personnel or their relatives : |
·
Siam Stockholding Limited * ·
Illingworth Marketing Private
Limited ·
Arvind Silk Mills Private
Limited ·
Geepee Softech Services Private
Limited * upto
June 30, 2009 ** w.e.f. July 1,2009 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
36000000 |
Equity Shares |
Rs.10/- each |
Rs.360.000 millions |
|
24000000 |
Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs.240.000 millions |
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Total |
|
Rs.600.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35972326 |
Equity Shares |
Rs.10/- each |
Rs.359.723 millions |
|
21818182 |
Cumulative Convertible Preference Shares |
Rs.10/- each |
Rs.218.182 millions |
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Total |
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Rs.577.905
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
577.905 |
577.905 |
359.723 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.236 |
11.348 |
12.614 |
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4] (Accumulated Losses) |
(216.772) |
(90.095) |
0.000 |
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NETWORTH |
372.369 |
499.158 |
372.337 |
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LOAN FUNDS |
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1] Secured Loans |
779.999 |
343.987 |
110.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
779.999 |
343.987 |
110.000 |
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DEFERRED TAX LIABILITIES |
37.048 |
1.584 |
48.979 |
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TOTAL |
1189.416 |
844.729 |
531.316 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
530.121 |
554.134 |
455.915 |
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CAPITAL WORK-IN-PROGRESS |
82.795 |
0.133 |
95.711 |
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INTANGIBLE ASSETS |
0.000 |
0.927 |
7.941 |
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INVESTMENT |
0.220 |
0.223 |
0.185 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
561.216
|
276.824
|
180.855 |
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Sundry Debtors |
168.491
|
70.200
|
74.223 |
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Cash & Bank Balances |
148.599
|
106.271
|
54.939 |
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Other Current Assets |
34.393
|
6.461
|
7.515 |
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Loans & Advances |
128.603
|
112.640
|
93.724 |
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Total
Current Assets |
1041.302
|
572.396
|
411.256 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
175.983
|
250.744
|
142.021 |
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Other Current Liabilities |
271.587
|
21.920
|
240.634 |
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Provisions |
17.452
|
10.420
|
57.037 |
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Total
Current Liabilities |
465.022
|
283.084
|
439.692 |
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Net Current Assets |
576.280
|
289.312
|
(28.436) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1189.416 |
844.729 |
531.316 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover (Net) |
6139.638 |
3177.969 |
5982.218 |
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Other Income |
104.125 |
131.704 |
418.811 |
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TOTAL (A) |
6243.763 |
3309.673 |
6401.029 |
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Less |
EXPENSES |
|
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|
6301.597 |
2977.305 |
5130.234 |
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Personnel Expenses |
|
69.903 |
73.102 |
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Operating and other Expenses |
|
341.579 |
766.722 |
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TOTAL (B) |
6301.597
(including financial expenses) |
3388.787 |
5970.058 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(79.114) |
430.971 |
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Less |
FINANCIAL
EXPENSES (D) |
|
39.286 |
89.719 |
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PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(57.834) |
(118.400) |
341.252 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.378 |
36.060 |
45.166 |
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PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(91.212) |
(154.460) |
296.086 |
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Less |
TAX (H) |
35.465 |
(51.752) |
98.973 |
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PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(126.677) |
(102.708) |
197.113 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(90.094) |
12.614 |
(142.414) |
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|
Less |
Adjustment for employee benefits as per transitional provision |
0.000 |
0.000 |
0.000 |
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Less |
APPROPRIATIONS |
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|
Proposed Final Dividend |
0.000 |
0.000 |
35.972 |
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Tax on Dividend |
0.000 |
0.000 |
6.113 |
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|
BALANCE CARRIED
TO THE B/S |
(216.771) |
(90.094) |
12.614 |
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EARNINGS IN
FOREIGN CURRENCY |
|
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|
De-oiled Cake [FOB value] |
48.247 |
39.861 |
1178.485 |
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Settlement Contracts |
0.000 |
1.257 |
0.000 |
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TOTAL EARNINGS |
48.247 |
41.118 |
1178.485 |
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IMPORTS |
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|
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Raw Materials |
78.694 |
323.716 |
0.000 |
|
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Traded Goods |
139.490 |
252.421 |
76.707 |
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TOTAL IMPORTS |
218.184 |
576.137 |
76.707 |
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Earnings/(Loss)
Per Share (Rs.) |
(4.36) |
(3.14) |
5.48 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
(2.03) |
(3.10)
|
3.08 |
|
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|
|
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|
(PBT/Sales) |
(%) |
(1.49) |
(4.86)
|
4.95 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(5.80) |
(13.71)
|
34.14 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
(0.24) |
(0.31)
|
0.79 |
|
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Debt Equity Ratio (Total Liability/Networth) |
|
3.34 |
1.26
|
1.47 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.24 |
2.02
|
0.93 |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
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) |
No |
|
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 |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
Registered office address of the company has been shifted from Gauri
Sadan, E-701, 7th Floor, 5,
BACKGROUND OF COMPANY:
The Company is primarily in
the business of manufacturing/extraction/trading and refining of edible oils
from oil seeds.
Pursuant to the provisions of section 17 of the companies act, 1956, and consequent to the order passed by honorable company law board on 1st June 2010 the registered office of the company stands transferred from the state of Madhya Pradesh to National Capital Territory of Delhi w.e.f. 10.06.2010.
OPERATIONS
During the year, the
company has shown significant growth in turnover by 193.19% which stood at
Rs.6139.638 millions (Previous year Rs.3177.969 millions). The Oil seed
crushing was up by 341.59% at 225725 m tons (previous year 66081 m tons). The
increase in turnover and seed crushing reflected in improving the operating
performance of the Company, however, in view a larger provision for deferred
tax liability, the loss after tax for the year is Rs.126.677 millions as
against Rs.102.708 millions in the previous year. With the increase in crushing
and turnover, the profitability of the Company would have been much better but
due to higher Oil seed prices and volatility in domestic and export market the margins
were under stress. After adjusting the brought forward debit balance of
Rs.90.094 millions a sum of Rs.216.771 millions is carried forward as debit in
the profit and loss account. However, the Directors expect comparatively better
performance in the current year of 2011-12.
FINANCE
The Bankers of the
Company the State bank of Hyderabad New Delhi have sanctioned renewal of the
existing working Capital facilities in February, 2011 for another period of one
year. The Company has been regular in payment of term loan installments and
interest as per schedule to the Bank.
EXECUTION OF SHARE
The Promoters’
Shareholders Group and the Financial Investors’ Group have executed separate
share sale and purchase agreement for the transfer of their shareholding in the
company to ADM Agro Industries India Private Limited,
CONVERSION OF PREFERENCE SHARES INTO EQUITY SHARE
CAPITAL
During the year 2009-10,
the Company had allotted 9.9% 2,18,18,182 Cumulative Compulsorily Convertible
Preference Shares (CCCPS) of the face value of Rs.10/- each at a premium of Re.1/-
total Rs.11/- per share to India Agri Business Fund Limited, Mauritius and REAL
Trust, New Delhi for a total sum of Rs.240.000 millions.
As per terms of
Issue these shares are compulsorily convertible, on or before 30th June,
2011 into 1,26,38,925 Equity Shares of Rs.10/- each ranking pari passu with the
existing equity shares. This works out to the conversion of the CCCPS into
equity at the rate of Rs.18.98/- per share comprising face value of Rs.10/-
each and a premium of Rs 8.99/- per share.
On conversion, the
Paid up Share Capital of the Company will be Rs.486.113 millions divided into 4,86,11,251
Equity Shares of the face value of Rs.10 each. The amount of Rs.91.793 millions
representing the premium on conversion of preference shares will be transferred
to Share premium account.
To accommodate the
conversion of the Preference Shares into Equity Shares, the existing authorized
share capital of Rs.600.000 millions divided into Rs.360.000 millions Equity
Share Capital and Rs.240.000 millions Preference Share Capital will be
re-organized / re-classified into equity share capital of Rs.600.000 millions
divided into 6 Crores equity shares of the face value of Rs.10/- each and
clause V of the Memorandum of Association of the Company will be altered
accordingly.
However, in the
Board meeting held on 22nd June 2011 the Directors appointed by the
Promoters and the Investors Group holding the CCCPS have considered and
mutually decided to defer the conversion of Preference Shares into Equity
Shares on a later date instead of conversion on or before 30th June, 2011.
EXPANSION CUM MODERNIZATION
The directors in
their last report have informed that the Company has embarked on expansion into
Palm Oil Refining and has firmed up plans to set up a plant for 150 TPD
Fractionation Plant for Palm Oil, 25 TPD Hydrogenation Plant, 25 TPD
Inter-Esterification and Bleaching Plant and 50 TPD Post Bleaching and
Deodorisation Plant for Vanaspati at its Akola Plant. The total cost of the
project was estimated at Rs.146.300 millions (including margin money for
working capital). The entire capex has been funded from internal resources of
the company.
The implementation
of the project was commenced in May 2010 and plant erection is almost now
complete. It is expected to put on trial runs by end of June 2011 and commence
commercial operations soon thereafter. The project is expected to be completed
within the budgeted cost.
CONTINGENT LIABILITIES
Contingent liabilities not
provided for are as follows:
The Company has estimated
Contingent liabilities in respect of show-cause notices/demands received from
Government Authorities and others in respect of the following:
|
Particulars |
31.03.2011 (Rs.
in millions) |
|
(i) Demands raised by land authorities, |
0.165 |
|
(ii) Demands raised by service tax authorities against the company and
contested in appeal |
3.531 |
|
(iii) Demand raised by local gram panchayat, |
1.772 |
The Company has
given corporate guarantee of Rs.150.000 millions to HDFC Bank Limited,
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U15493MP1991PTC006405 |
|
Name of the
company |
GEEPEE AGRI
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
311, Apollo Trade
Centre, 2-B Rajgarh Kothi, Geeta Bhawan Square, A.B. Road, Indore - 452001,
Madhya Pradesh, India |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10176000 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of Email : sbhkgmarg@yahoo.co.in
|
|
Nature of
instrument creating charge |
Memorandum of
Deposit for Creation of Charge for Term Loan / Overall Limit. |
|
Date of instrument
Creating the charge |
13.10.2009 |
|
Amount secured by
the charge |
Rs.1430.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Rate of Interest @ SBH PLR Presently 12.75% p.a. (Floating) Terms of
Repayment – Working Capital -
Payable on Demand. Corporate Loan -
Repayable in 12 Quarterly Installments of Rs.27.500 millions each w.e.f.
31.03.2010 and Interest to be serviced as and when applied. Margin – 25% Extent and
Operation of the charge – Working capital -
1st charge on current assets and 2nd charge on fixed
assets. Corporate loan -
1st charge on fixed assets and 2nd charge on current
assets. Others – The above is to
secure The Following :- Cash Credit (hypothecation) = Rs.750.000 millions EPC/PCFC = Rs.(500.000) millions sublimit
to CC (hypothecation.) FUBD/FDBP/EBR =
Rs.(500.000) millions sublimit to CC (hypothecation) Letter of
Credit = Rs.300.000 millions Bank
Guarantee = Rs.50.000 millions Corporate
Loan = Rs.330.000 millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Working capital -
hypothecated by way of 1st charge on company's current assets i.e. stock of
raw material, finished goods, stock in process (such as soya/rape seed, other
oil bearing seeds oil cakes, oils, vanaspati, hexane, coal, packing material
etc.) and second charge over movable and immovable fixed assets both present
and future of the company Corporate loan -
1st charge over movable and immovable Fixed assets and 2nd
charge over current assets both present and future. |
|
Particulars of
the present modification |
Credit facilities
of Rs. 1430.000 millions already secured by hypothecation over current assets
and movable fixed assets of the company shall now adlly. be secured by
equitable Mortgage over company's immovable Property i.e. plots measuring
2.03 hectare In Khasara No.237, 0.18 hectare In Khasara No. 236, 1.15 hectare
In Khasara No.235, 2.25 hectare In Khasara No. 217, 1.80 hectare In Khasara
No.238 and 3.40 hectare In Khasara No. 218 situated in village Taathed,
Tehsil Ladpura, District Kota, Rajasthan. |
FIXED ASSETS:
v Land
v Building
v Plant and Machinery
v Furniture and Fixtures
v Computer Software
v Goodwill
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.54.60 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.69.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.