MIRA
INFORM REPORT
|
Report Date : |
16.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAMRAT REMEDIES LIMITED |
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Registered
Office : |
1501, Phase III, GIDC, Vapi – 396 195, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
21.08.2003 |
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Com. Reg. No.: |
04-042774 |
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Capital
Investment / Paid-up Capital : |
Rs.11.314
Millions |
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CIN No.: [Company
Identification No.] |
U24231GJ2003PLC042774 |
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0305060724 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SRTS06519C |
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PAN No.: [Permanent
Account No.] |
AAJCS3844G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of fine chemical and pharmaceutical chemicals. |
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No. of Employees : |
Approximately 43 (In Office: 8 and In Factory: 35) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 220000 |
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Status : |
Satisfactory |
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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. Performance capacity of the company seems good. Financially company
has improved in the current year. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB+ (Cash Credit) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
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Date |
April, 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.
LOCATIONS
|
Registered Office/ Factory : |
1501, Phase III, GIDC, Vapi – 396 195, |
|
Tel. No.: |
91-260-3296545 |
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Fax No.: |
91-260-2427073 |
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E-Mail : |
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Website : |
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Area : |
19600 sq. ft. |
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Location : |
Owned |
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Head Office : |
303, 3rd Floor, Suyash, Hanuman
Gali, Koldongri, Jagdish Nagar, |
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Tel. No.: |
91-22-26102491/ 92 |
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Fax No.: |
91-22-26101982 |
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Branch Office : |
Plot No.1505, 3rd Phase, GIDC, Vapi – 396 195, |
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Area : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Champak Kantilal Parekh |
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Designation : |
Whole Time Director |
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Address : |
3, Kamdhenu Nilayam, 5, |
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Date of Birth/Age : |
31.10.1933 |
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Qualification : |
GDC and A |
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Date of Appointment : |
01.01.2012 |
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DIN No.: |
00287189 |
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Other Directorship :
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Name : |
Mr. Hitesh Champak Parekh |
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Designation : |
Managing director |
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Address : |
3, Kamdhenu Nilayam, 5, |
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Date of Birth/Age : |
28.07.1965 |
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Qualification : |
B. Pharma |
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Date of Appointment : |
01.01.2012 |
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DIN No.: |
00287229 |
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Other Directorship :
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Name : |
Mrs. Saroj Champak Parekh |
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Designation : |
Whole Time Director |
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Address : |
3, Kamdhenu Nilayam, 5, |
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Date of Birth/Age : |
10.10.1940 |
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Qualification : |
B. Com (Intermediate) |
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Date of Appointment : |
01.01.2012 |
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DIN No.: |
00287298 |
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Other Directorship :
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Name : |
Mrs. Sangeeta Hitesh Parekh |
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Designation : |
Whole Time Director |
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Address : |
3, Kamdhenu Nilayam, 5, |
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Date of Birth/Age : |
25.10.1966 |
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Qualification : |
B. Com |
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Date of Appointment : |
01.01.2012 |
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DIN No.: |
00287345 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hitesh C. Parekh |
|
462500 |
|
Hitesh C. Parekh (HUF) |
|
100000 |
|
Champak K. Parekh |
|
12500 |
|
Sangeeta Hitesh Parekh |
|
462470 |
|
Saroj Champak Parekh |
|
12500 |
|
Bindi Vinit Mehta |
|
10 |
|
Harish Dauletrai Gandhi |
|
10 |
|
Jayant L. Shah |
|
10 |
|
Central Chemical Inc., |
|
81350 |
|
Total
|
|
1131350 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
7.19 |
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Directors
or relatives of directors |
|
92.81 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of fine chemical and pharmaceutical chemicals. |
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Products : |
v
v
v
v
v
v
v
v
v
v
v
v
v
v |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Organic and Inorganic Chemicals |
MT |
NA |
360.0000 |
241.2378 |
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GENERAL INFORMATION
|
Suppliers : |
v
Deep Pharma-Chem Private Limited v
Union v
Super Sulphates v
Apsara Packagings v
Arihant Chemicals v
Maitree Chemicals v
TNT Express v
Mehta Medicate Private Limited v
Prince Containers Private Limited v
Nisha Chemicals v
Krishna Solvechem Limited v
Reliance Energy v
Adarsh Printing Press v
Shroff Engineers v
Star Scientific Glass Company v
Vinay Traders |
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Customers : |
v
Evialis India Limited v
Sun Pharmaceuticas Ind. Limited v
Century Enka Limited v
Kiran Light Laboratories v
SD Fine Chem Limited v
SRF Limited v
Sun Food Tech v
Cadila Healthcare Limited-AHM v
Thomas Baker Chemicals Private Limited v
Sam Fine Chem Limited v
Cipla Limited v
M.R. International v
Auctus Pharma Limited v
Micro Chemicals Company Private Limited v
Sushant Industries |
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No. of Employees : |
Approximately 43 (In Office: 8 and In Factory: 35) |
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Bankers : |
v
Corporation Bank, SME Marol Branch, Bonanza,
Sahar Plaza Complex, Andheri-Kurla Road, J.B. Nagar, Andheri (East), Mumbai –
400 059, Maharashtra, India v
The Saraswat Co-operative Bank Limited, Raja
Shopping Center, New Nagardas Road, Andheri (East), Mumbai – 400 069,
Maharashtra, India v
ICICI Bank v
ABN Amro Bank v
HDFC Bank Limited v
Kotak Mahindra Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Nalin S. Parekh and Company Chartered Accountants |
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Address : |
302, Madhav Apartments, 3rd Floor, |
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Tel. No.: |
91-22-25012552/ 25013488 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AABPP3409R |
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Related Party : |
Sun Chemicals |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1131350 |
Equity Shares |
Rs.10/- each |
Rs.11.314
Millions |
|
|
|
|
|
DETAILS OF SHAREHOLDERS’ HOLDING DURING THE YEAR
|
Particulars |
As on 31.03.2011 |
Allotted during
the year |
As on 31.03.2012 |
Holding (%) |
|
Hitesh C. Parekh |
212500 |
250000 |
462500 |
40.8804% |
|
Hitesh C. Parekh (HUF) |
100000 |
-- |
100000 |
8.8390% |
|
Champak K. Parekh |
12500 |
-- |
12500 |
1.1049% |
|
Sangeeta Hitesh Parekh |
212470 |
250000 |
462470 |
40.8777% |
|
Saroj Champak Parekh |
12500 |
-- |
12500 |
1.1049% |
|
Bindi Vinit Mehta |
10 |
-- |
10 |
0.0009% |
|
Harish Dauletrai Gandhi |
10 |
-- |
10 |
0.0009% |
|
Jayant L. Shah |
10 |
-- |
10 |
0.0009% |
|
Central Chemical Inc. |
-- |
81350 |
81350 |
7.1905% |
|
Total
No. of Shares |
550000 |
581350 |
1131350 |
100.00% |
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 |
11.314 |
5.500 |
5.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
43.792 |
22.215 |
17.358 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
55.106 |
27.715 |
22.858 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.481 |
47.766 |
44.873 |
|
|
2] Unsecured Loans |
20.992 |
31.098 |
37.678 |
|
|
TOTAL BORROWING |
52.473 |
78.864 |
82.551 |
|
|
DEFERRED TAX LIABILITIES |
1.410 |
1.585 |
1.731 |
|
|
|
|
|
|
|
|
TOTAL |
108.989 |
108.164 |
107.140 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
42.241 |
44.517 |
45.997 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.026 |
0.052 |
0.052 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.698
|
45.390
|
19.172
|
|
|
Sundry Debtors |
129.587
|
53.776
|
69.533
|
|
|
Cash & Bank Balances |
19.459
|
11.193
|
14.645
|
|
|
Other Current Assets |
1.084
|
0.935
|
0.935
|
|
|
Loans & Advances |
9.308
|
9.510
|
7.925
|
|
Total
Current Assets |
186.136
|
120.804 |
112.210
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
118.553
|
54.668
|
51.119
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
0.861
|
2.541
|
0.000
|
|
Total
Current Liabilities |
119.414
|
57.209
|
51.119 |
|
|
Net Current Assets |
66.722
|
63.595
|
61.091 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108.989 |
108.164 |
107.140 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
581.398 |
295.467 |
284.238 |
|
|
|
Other Income |
1.475 |
2.121 |
1.301 |
|
|
|
TOTAL (A) |
582.873 |
297.588 |
285.539 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
480.209 |
268.045 |
262.348 |
|
|
|
Changes in inventories of finished goods,
work in progress and stock-in-trade |
14.643 |
(24.483) |
|
|
|
|
Employee Benefits Expenses |
7.437 |
7.138 |
|
|
|
|
Other Expenses |
37.431 |
21.165 |
|
|
|
|
TOTAL (B) |
539.720 |
271.865 |
262.348 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
43.153 |
25.723 |
23.191 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.211 |
12.559 |
10.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.942 |
13.164 |
12.678 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.522 |
5.744 |
5.024 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
26.420 |
7.420 |
7.654 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.909 |
2.563 |
2.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
17.511 |
4.857 |
5.123 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
4.156 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
328.322 |
157.405 |
157.405 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
15.48 |
8.83 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.00
|
1.63 |
1.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.54
|
2.51 |
2.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.57
|
4.49 |
4.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48
|
0.27 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.12 |
4.91 |
5.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
2.11 |
2.20 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
Yes |
|
18) Major customers |
Yes |
|
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)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
Note:
The registered office address of the company has shifted from Plot
No.1401, 3rd Phase, Near Gama Colony, GIDC, Vapi – 396 195, Gujarat
to the present address w.e.f. 29.04.2010.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U24231GJ2003PLC042774 |
|
Name of the
company |
SAMRAT REMEDIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
1501, Phase III, GIDC, Vapi – 396 195, E-Mail: contact@samratremedies.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10133784 |
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge) Others (Current
and Fixed Assets) |
|
Particular of
charge holder |
Corporation Bank, SME Marol Branch, Bonanza, Sahar Plaza Complex,
Andheri-Kurla Road, J.B. Nagar, Andheri (East), Mumbai – 400 059,
Maharashtra, India E-Mail: adlalwani@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
Common Deed of Hypothecation 2. Memorandum of Deposit
of Title Deeds cum Continuity Letter (All the above
agreement constitute a single charge) |
|
Date of
instrument Creating the charge |
12.03.2012 |
|
Amount secured by
the charge |
Rs.202.900
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As stipulated by
Bank from time to time Terms of
Repayment: As stipulated by
Bank from time to time Margin: As stipulated by
Bank from time to time Extent and
Operation of the charge: First Charge
(Present and Future)=Total Limit Rs.202.900 millions (Cash Credit=Rs.40.000
millions, Inland/Import Letter of Credit=Rs.150.000 millions, Term Loan
(Review) Rs.8.300 millions, Term Loan (Review) =Rs.3.600 millions and Bank
Guarantee=Rs.1.000 million) And/or as
stipulated by Bank from time to time Others: As stipulated by
Bank from time to time and as per agreement and as per sanction letter of the
bank |
|
Short particulars
of the property charged |
First charge (present
and future on following assets) – (1) Hypothecation
of all goods/ stock/ inventories/ products/ stores/ tools kept at borrower
place/ premises/ godown/ factories etc or whereeverelse or in transit
including brought under L.C. (2) Hypothecation
of all book debts and receivables (3) Hypothecation
of all current assets, movable and fixed assets including all plant and
machinery, furniture fixtures, electrical equipments etc. (4) EMG of Plot
Bearing No.1501, situated at Vapi Notified Industrial Area, Chhiri, Pardi,
Valsad Bearing Survey No.116/P of Village-Chiri, Taluka-Pardi and
District-Valsad with building thereon (existing and to be constructed) with
all plant and machineries (5) EMG of office
premises located at No.208, Delmas, Near Udyog Bhavan, Goregaon-East, Mumbai
owned by Hitesh Parekh and Sangeeta Hitesh Parekh |
|
Whether any of the property or interest therein under reference is not
registered in the name of the company If yes, in whose name it is registered |
Yes Owned by Hitesh
Parekh and Sangeeta Hitesh Parekh |
|
Particulars of
the present modification |
By this
modification limit increased from 153.600 millions to Rs.202.900 millions (Cash Credit=Rs.40.000
millions, Inland/Import Letter of Credit=Rs.150.000 millions, Term Loan
(Review) Rs.8.300 millions, Term Loan (Review) =Rs.3.600 millions and Bank
Guarantee=Rs.1.000 million), securities are continued as given by original
charge as well as by modification, terms and conditions as per agreement and
as per sanction letter of the Bank |
FIXED ASSETS:
v Land
v Building
v Computer
v Office Equipment
v Plant and Machinery
v Electric Installation
v Vehicle
v Furniture and Fixtures
v Air Conditioners
WEBSITE DETAILS:
PROFILE:
Subject has emerged as a
Pharmaceutical Intermediate, having got incorporated in 2003. With focus and
vision, Subject has gained a distinct identity as one of the leading
manufacturers and exporters of fine chemical and pharmaceutical chemicals. Subject
has forayed into the iodine/drug intermediate business and pharmaceutical
chemical segment since incorporation, and has been mobilising Iodine
Derivatives to various API Manufacturers and Pharmaceutical Organisations.
The company manufactures fine chemicals and pharmaceutical raw material, and a
host of related products. We, at Subject, have realised the importance of the
business and Iodine based product requirements. The vast product range includes
Potassium Iodide, Sodium Iodide, Potassium Bromide, Calcium Iodate and
Trimethylsulfoxonium iodide, ensuring ingredient factors for usage. Besides
manufacturing their stock items, they also do considerable amount of customised
production for special requirements. Their quality products have given endless
opportunities to all their API manufacturers and customers an option for
standard quality and cost-effective products. Their products have gained wide
acceptance, which motivates them to perform better everytime.
They boast of a state-of-the-art production unit, an in-house research centre
and a qualified and experienced working staff. Their processes are formulated toassure
quality, reliability and safety of products; service dependability and trained
and skilled manpower.
Their operations have been established in a short span, after extensive
research and study of the pharmaceutical industry. With a goal to reach the
international masses, they have developed their resources and infrastructure as
per recognised standards.
With over 25 man-years of experience in the industry, the management of the
company has given directions to overall organisational functioning. They have a
foresight of growth of the organisation in this business domain. Their insights
have been immensely crucial in laying the systemic foundation of the
organisation. Their leadership has been crucial in streamlining and formulating
strategic plans; focus on manufacturing, R&D, production, quality
assurance, penetrative marketing plans, delivery system and customer care
interface. As visionaries, they have always believed in the virtue -
"Progress, Expansion and Growth need to be based on trust of customers; on
self-beliefs and thrust on professional attributes".
They have invoked their strengths to continually grow, having achieved the
reputation of manufacturing quality products in domestic and international
markets. With a modest beginning, the company’s average year on year growth has
been over 30%, which has been consistent. This growth encourages them to
contemplate on further business and structural expansion. The expansion plan is
to benefit and give advantage of increased volume and improved quality products
to their API manufacturers and other customers.
INFRASTRUCTURE:
They have a well-equipped manufacturing unit at Vapi,
The unit houses equipments and machineries like GLR, SS, Reactors, PP FRP
Vessels, MSRL Centrifuges, SS Centrifuges, Sparler Filters, Dryers, Multi
Mills, Pulverisers and Glass Flask Assemblies. Utility section houses Boilers,
Chilling Plants, Vacuum Pump-Ejectors,
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
|
|
1 |
Rs.87.10 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.