MIRA INFORM REPORT
|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
CAPTAIN POLYPLAST LIMITED |
|
|
|
|
Registered
Office : |
UL25 Royal Complex, Bhutkhana chowk |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.03.1997 |
|
|
|
|
Com. Reg. No.: |
04-031985 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs.20.684 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ1997PLC031985 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTC00209G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC8608F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Drip Irrigation System, HDPE Pipe. |
|
|
|
|
No. of
Employees: |
140 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 294000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. It has
recorded healthy growth in its sales turnover and profits during 2012. There
appears a huge external borrowing recorded by the company. Trade relations are reported as fair. Business is active. Payments are
slow but correct. 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A4+ (Short Term Bank Facility) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
13.02.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
BB- (Long Term Bank Facility) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
13.02.2012 |
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 (GENERAL DETAIL)
|
Name : |
Mr. Kaushik |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2827-253006 |
|
Date : |
06.11.2012 |
LOCATIONS
|
Registered Office/Head Office : |
UL-25 Royal Complex, Bhutkhana chowk |
|
Tel. No.: |
91-2827-253006/91-281-2226361 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No.267, Plot No. 10A and 11, Shapur, |
|
Tel. No.: |
91-2827-253006 |
|
Fax No.: |
91-2827-252056 |
|
E-Mail : |
|
|
Web site |
|
|
|
|
|
Branches : |
Located at ·
·
Deesa ·
·
Jaipur ·
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rameshbhai Devrajbhai Khichadia |
|
Designation : |
Director |
|
Address : |
A-13, |
|
Date of Birth/Age : |
11.05.1966 |
|
Date of Appointment : |
05.01.2010 |
|
Din No.: |
00087859 |
|
|
|
|
Name : |
Mr. Gopal Devrajbhai Khichadia |
|
Designation : |
Director |
|
Address : |
203, Utsav
Complex, Swaminarayan Chowk, |
|
Date of Birth/Age : |
15.01.1975 |
|
Date of Appointment : |
05.01.2010 |
|
Din No.: |
00127947 |
|
|
|
|
Name : |
Mr. Kantilal Manilal Gedia |
|
Designation : |
Director |
|
Address : |
2, Shiv
Apartment, |
|
Date of Birth/Age : |
01.11.1957 |
|
Date of Appointment : |
05.01.2010 |
|
Din No.: |
00127949 |
|
|
|
|
Name : |
Mr. Ashokbhai Kanjibhai Patel |
|
Designation : |
Director |
|
Address : |
70A, Prince Palace,
NR S.N.K. School, University Road, Rajkot-- 360005, |
|
Date of Birth/Age : |
11.10.1951 |
|
Date of Appointment : |
27.03.1997 |
|
Din No.: |
00127951 |
KEY EXECUTIVES
|
Name : |
Mr. Kaushik |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rameshbhai D. Khichaida |
|
547420 |
|
Gopalbhai D. Khichadia |
|
445120 |
|
Sangitaben R. Khichdia |
|
178400 |
|
Tansukhbhai D. Khichadia |
|
2000 |
|
Girdharbhai D. Khichadia |
|
2200 |
|
Raliyatben D. Khichadia |
|
8700 |
|
Rashmitaben G. Khichadia |
|
19000 |
|
Gopalbhai D. Khichadia (HUF) |
|
21000 |
|
Rameshbhai D. Khichaida (HUF) |
|
70000 |
|
Kantilal M. Gedia |
|
94540 |
|
Lilavantiben K. Gedia |
|
29800 |
|
Bhavesh K. Gedia |
|
13060 |
|
Ketan K. Gedia |
|
8000 |
|
Ashokbhai K. Patel |
|
60020 |
|
Gaurang A. Patel |
|
6600 |
|
Kanjibhai M. Pansuria |
|
149900 |
|
Ratilal M. Pansuria |
|
11800 |
|
Mohanbhai K. Pansuria |
|
38000 |
|
Jayantibhai M. Pansuria |
|
9600 |
|
Captain Pipes Private Limited, |
|
140000 |
|
Captain Plastic Private Limited, |
|
100750 |
|
|
|
|
|
Total |
|
1955910 |
|
|
|
|
AS ON 07.09.2012
|
Names of Allotters |
|
No. of Shares |
|
Ritesh Rameshbhai Khichaida |
|
112500 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Drip Irrigation System, HDPE Pipe. |
|
|
|
|
Exports : |
|
|
Products : |
·
Drip Irrigation System ·
HDPE Pipe |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers |
|
|
|
|
No. of Employees : |
140 (Approximately) |
|
|
|
|
Bankers : |
· State Bank of India Commercial Branch, Noble House, Near Jalaram Petrol Pump, Kalawad Road, Rajkot - 360002, Gujarat, India ·
Union Bank of |
|
|
|
|
Facilities : |
FOOT NOTE ·
Secured loans from
bank consists of Machinery Loan, Wind Mill Loan and Car loans. Machinery and
Wind Mill Loans are secured by way of first charge by hypothecation of
Machinery and Wind Mill and guarantee by all the Directors of the Company.
Car Loans are secured by hypothecation of Cars. Rate of Interest: Machinery
Loan -15% - Wind Mil Loan 15.25% - Car Loan 11.58% and 12.26% Terms of
Repayment: Machinery loan - Monthly Instalment - Machinery Rs. 0.140 Million. Wind Mill Rs. 0.150 Million
Car loan Rs. 9810 EMI and Rs.
13200 EMI · No terms and conditions are specified regarding interest and its repayment In respect of Unsecured Loans from related parties and other unsecured loan. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Ghanshyam and Company Chartered Accountant |
|
Address : |
605, |
|
Pan No.: |
ACSK7621D |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2068410 |
Equity Shares |
Rs.10/- each |
Rs.20.684 Millions
|
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1955910 |
Equity Shares |
Rs.10/- each |
Rs.19.559
Millions |
|
|
|
|
|
|
Particular |
2012 |
2011 |
|
(c)Par Value Per Share |
10 |
10 |
|
(d)Number of Shares outstanding at the beginning
of (he reporting period Number of Shares outstanding at the end of
the reporting period |
1955910 1955910 |
1955910 1955910 |
|
(e)The rights, preferences and restrictions
attaching 1o each class of shares including restrictions on the distribution
of dividends and repayment of capital. |
0 |
0 |
|
(f) Shares in respect of each class in the
company held by its holding company or altimate holding company. |
0 |
0 |
|
|
|
|
|
|
|
|
(g) Shareholders
holding more than 5% Shares:
|
Particular |
31.03.2012 |
|
|
Names
of Shareholders: |
Number of shares
held |
% of holding |
|
Rameshbhai D. Khichadia |
547420 |
27.99 |
|
Gopalbhai D. Khichadia |
445120 |
22.76 |
|
Sangitaben R. Khichadia |
178400 |
9.12 |
|
Kanjibhai M. pansuria |
149900 |
7.66 |
|
Captain Pipes Private Limited |
140000 |
7.16 |
|
Captain Plastics Private Limited |
100750 |
5.15 |
|
|
1561590 |
|
|
(h)Shares reserved for issue under option
and contracts/ commitments for sale of shares/disinvestment, |
0 |
0 |
|
(i)For the period of 5 years immediately
preceding the date as at Balance Sheet is prepared: |
|
|
|
- Aggregate number and class of shares
allotted as fully paid up pursuant to contract's) without payment being
received in cash |
0 |
0 |
|
- Aggregate number and class of shares
allotted as fully paid up by way of bonus shares |
0 |
0 |
|
(j)Aggregate number and class of shares
bought back |
0 |
0 |
|
|
|
|
|
Terms of any securities convertible into
equity/preference shares along with the earliest date of conversions in
descending order starting form the farthest such date |
0 |
0 |
|
Calls unpaid |
0 |
0 |
|
Forfeited shares |
0 |
0 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.559 |
19.559 |
9.276 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
53.935 |
40.417 |
36.788 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
73.494 |
59.976 |
46.064 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
84.879 |
73.398 |
52.458 |
|
|
2] Unsecured Loans |
8.051 |
8.656 |
15.518 |
|
|
TOTAL BORROWING |
92.930 |
82.054 |
67.976 |
|
|
DEFERRED TAX LIABILITIES |
5.373 |
4.860 |
1.042 |
|
|
|
|
|
|
|
|
TOTAL |
171.797 |
146.890 |
115.082 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
58.641 |
45.887 |
27.422 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.492
|
77.433 |
51.881 |
|
|
Sundry Debtors |
175.538
|
108.770 |
78.317 |
|
|
Cash & Bank Balances |
25.737
|
24.988 |
13.932 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.00 |
|
|
Loans & Advances |
16.266
|
14.935 |
24.255 |
|
Total
Current Assets |
269.033
|
226.126 |
168.385 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
127.013
|
114.564 |
71.053 |
|
|
Other Current Liabilities |
24.702
|
9.184 |
6.689 |
|
|
Provisions |
4.162
|
1.375 |
2.983 |
|
Total
Current Liabilities |
155.877
|
125.123 |
80.725 |
|
|
Net Current Assets |
113.156
|
101.003 |
87.660 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
171.797 |
146.890 |
115.082 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
510.342 |
364.844 |
372.309 |
|
|
|
Other Income |
3.692 |
3.806 |
0.343 |
|
|
|
TOTAL (A) |
514.034 |
368.650 |
372.652 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material and stores consumed |
235.977 |
207.007 |
|
|
|
|
Purchase of stock in trade |
114.693 |
78.554 |
|
|
|
|
Employee benefit expenses |
17.588 |
13.499 |
|
|
|
|
Other expenses |
74.382 |
52.590 |
|
|
|
|
|
442.640 |
351.650 |
|
|
|
|
Change in inventories of finished goods work in progress and stock in trade |
13.594 |
(17.693) |
|
|
|
|
TOTAL (B) |
456.234 |
333.957 |
347.484 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
57.800 |
34.693 |
25.168 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31.058 |
21.761 |
10.912 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26.742 |
12.932 |
14.256 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.610 |
5.696 |
3.532 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
18.132 |
7.236 |
10.724 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.614 |
4.499 |
3.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.518 |
2.737 |
7.236 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
5.590 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS
PROVISIONS OF INCOME TAX |
0.000 |
0.000 |
0.003 |
|
|
|
|
|
|
|
|
|
Less |
INCOME
TAX PREVIOUS YEAR |
0.000 |
0.000 |
0.606 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
13.518 |
2.737 |
12.223 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5.326 |
7.021 |
NA |
|
|
|
Capital Goods |
0.575 |
0.000 |
|
|
|
TOTAL IMPORTS |
5.901 |
7.021 |
9.786 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.91 |
- |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.63 |
0.74 |
2.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.55 |
1.98 |
2.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.33 |
2.66 |
5.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.12 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.39 |
3.45 |
3.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.81 |
2.09 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
SUNDRY CREDITORS
DETAILS:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Trade payables for goods |
104.361 |
98.243 |
61.882 |
|
Trade payables for expenses |
22.652 |
16.321 |
9.171 |
|
|
127.013 |
114.564 |
71.053 |
FORM 8
|
Corporate
identity number of the company |
U25209GJ1997PLC031985 |
|
Name of the
company |
CAPTAIN
POLYPLAST LIMITED |
|
Address of the
registered office or of the principal place of business in |
UL25 Royal Complex, Email: csksdoffice@gmial.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10128770 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of India Commercial Branch, Noble House, Near Jalaram Petrol Pump, Kalawad Road, Rajkot - 360002, Gujarat, India Email: sbi.04085@sbi.co.in |
|
Nature of
instrument creating charge |
(1)
Memorandum relating to deposit of title deeds for creation of charge for term
loan /overall limit as wall as further charge where the initial charge is
created by way of mortgage by deposit of title deeds dated 03.10.2012. (2)
Supplemental agreement of hypothecation of goods and assets for increase in
the overall limit dated 03.10.2012. |
|
Date of
instrument Creating the charge |
03.10.2012 |
|
Amount secured by
the charge |
Rs. 275.600 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit:- 4.00% above BR(9.75%) i.e. 13.75% p.a. Term Loan (Existing):- 5.40% above BR(9.75%) i.e. 15.15%
p.a. Term Loan (New):- 4.50% above BR(9.75%) i.e. 14.25% p.a. Term
of Payment: Working Capital :- On demand Margin RM Domestic Imported - 25% Stock In Process - 25% Finished Good - 25% Receivable Cover 120 Days - 50% LC - 20% BG* - 20% Extent and
operation of the charge Charge
shall operate to the extent of whole of the undertaking and premises of the
company. |
|
Short particulars
of the property charged (Including location of the property) |
Em
of industrial property in the name of captain Polyplast Limited situated at Survey No.267 of Shapar, Plot
No. 10/B, Near Nazmi
Food, behind Jain Steel, Opposite Pitrukrupa Hotel, Shapar, District Rajkot Em
of industrial property in the name of captain Polyplast Limited situated at Survey No.267 of Shapar, Plot
No. 10/B, Near Nazmi
Food, behind Jain Steel, Opposite Pitrukrupa Hotel, Shapar,
District Rajkot Em
of industrial property in the name of captain Polyplast Limited situated at Survey No.267 of Shapar, Plot
No. 10/B, Near Nazmi
Food, behind Jain Steel, Opposite Pitrukrupa Hotel, Shapar,
District Rajkot Em
of industrial property in the name of captain Polyplast Limited situated at Survey No.270, Shapar, Plot No.
6, Jain Steel, Opposite Pitrukrupa Hotel, Shapar, District Rajkot Em
of industrial property in the name Kantibhai M. Gedia situated at "Shiv APPT", 1st Floor, Flat No.
02, Mayani Chowk, Em
of industrial property in the name of Gopalbhai D. Khichadiya situated at
R.S.No.39/P, T.P.S.No.3 O.P.No.9/P, F.P.NO.34/P Plot No.22/P of Nana Mava,
Abhishek Bunglow, Dwarkadham Society, Rajkot. |
|
Particulars of the present modification |
Existing
various credit limits of Rs. 198.400 Millions have been revised |
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 organizatio 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.54.25 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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.