MIRA
INFORM REPORT
|
Report Date : |
16.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
VIMAL INTERTRADE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-310, Shyam Kamal
Agarwal Market, Vile Parle (East), Mumbai – 400057, Maharashtra |
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Country : |
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|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
03.08.2004 |
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|
|
|
Com. Reg. No.: |
11-147822 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.61.895 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51490MH2004PTC147822 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV11775B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Distributor and
Dealer of Specialty Chemicals and Resins.
|
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1080000 |
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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. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- (Cash Credit) |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation it carry moderate credit risk. |
|
Date |
July, 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/ Head Office/ Factory : |
C-310, Shyam Kamal Agarwal Market, Vile Parle (East), Mumbai – 400
057, |
|
Tel. No.: |
91-22-65093909 / 42551100 / 26127281 |
|
Fax No.: |
91-22-26127382 |
|
E-Mail : |
info@vimalagencies.net |
|
Website : |
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|
|
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|
Regional Offices and Warehouses : |
Located at: ·
Chennai ·
·
Kolkata |
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|
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|
Business division: |
Paints and Coatings coating@vimalagencies.net
(Paints) bmct@vimalagencies.net (Construction) bmct@vimalagencies.net (Adhesive) plastpack@vimalagencies.net
(Leather) ink@vimalagencies.net (Inks) diamond_tools@vimalagencies.net
(Diamond Tools) powder_coating@vimalagencies.net
(Powder Coating) Plastic and Polymers chemical@vimalagencies.net
(Auxiliaries) chemical@vimalagencies.net
(Water Treatment) chemical@vimalagencies.net
(Electronics) chemical@vimalagencies.net
(Lubricant) Specialty Chemicals lifescience@vimalagencies.net
(Pharma) lifescience@vimalagencies.net
(Agro) lifescience@vimalagencies.net
(Personal Care Personal Care) lifescience@vimalagencies.net
(Food) lifescience@vimalagencies.net
(Household) lifescience@vimalagencies.net (Flavor and Fragrance) |
DIRECTORS
As on 27.09.2011
|
Name : |
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Designation : |
Managing Director |
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|
Address : |
602, Prangan, |
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Date of Birth/Age : |
02.12.1963 |
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Qualification : |
B. Com |
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Date of Appointment : |
03.08.2004 |
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DIN No.: |
01542534 |
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Other Directorship :
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Name : |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
06.08.1970 |
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Date of Appointment : |
03.08.2004 |
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Qualification : |
HSC |
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DIN No.: |
01542622 |
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Other Directorship :
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Name : |
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Designation : |
Director |
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Address : |
602, Prangan, |
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Date of Birth/Age : |
24.10.1968 |
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Date of Appointment : |
03.08.2004 |
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Qualification : |
B. Com |
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DIN No.: |
01542712 |
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Other Directorship :
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Name : |
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Designation : |
Director |
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|
Address : |
602, Prangan, |
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Date of Birth/Age : |
09.05.1973 |
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Qualification : |
B. Com |
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Date of Appointment : |
03.08.2004 |
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DIN No.: |
01542673 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
No. of Shares |
|
Bimal V Shah |
334400 |
|
Paras V Shah |
93350 |
|
Hiren V Shah |
93350 |
|
Mayur V Shah |
93350 |
|
Vasantrai R Shah |
270 |
|
Dhirajben R Shah |
2250 |
|
Vasantrai R Shah (HUF) |
1980 |
|
Total
|
618950 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor and
Dealer of Specialty Chemicals and Resins.
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Rajiv N. Shah and
Associates Chartered
Accountants |
|
Address : |
A-1, |
|
PAN.: |
AAFPS1156E |
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|
|
|
Group Company: |
·
Vimal Agencies ·
Vimal Global Trade Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
618950 |
Equity Shares |
Rs.100/-
each |
Rs.61.895
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 |
61.895 |
49.395 |
49.395 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
210.132 |
127.022 |
98.454 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
272.027 |
176.417 |
147.849 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
191.262 |
182.555 |
182.101 |
|
|
2] Unsecured Loans |
13.799 |
1.575 |
79.180 |
|
|
TOTAL BORROWING |
205.061 |
184.130 |
261.281 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.631 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
477.088 |
361.178 |
409.130 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.616 |
8.783 |
7.218 |
|
|
Capital work-in-progress |
0.224 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.580 |
0.061 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.193 |
0.773 |
0.718 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
183.822
|
165.723
|
187.966 |
|
|
Sundry Debtors |
448.769
|
311.441
|
302.134 |
|
|
Cash & Bank Balances |
26.247
|
3.794
|
7.304 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
104.044
|
68.448
|
48.966 |
|
Total
Current Assets |
762.882
|
549.406
|
546.370 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
253.304
|
166.036
|
117.753 |
|
|
Other Current Liabilities |
3.290
|
4.834
|
1.438 |
|
|
Provisions |
42.350
|
27.273
|
26.382 |
|
Total
Current Liabilities |
298.944
|
198.143
|
145.573 |
|
|
Net Current Assets |
463.938
|
351.263
|
400.797 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.537
|
0.298
|
0.347 |
|
|
|
|
|
|
|
|
TOTAL |
477.088 |
361.178 |
409.130 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2209.221 |
1539.910 |
1643.655 |
|
|
|
Other Income |
0.965 |
0.266 |
0.320 |
|
|
|
TOTAL (A) |
2210.186 |
1540.176 |
1643.975 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
1587.884 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2105.125 |
1460.726 |
1587.884 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
105.061 |
79.450 |
56.091 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.799 |
32.377 |
44.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
72.262 |
47.073 |
11.255 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.025 |
1.694 |
1.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
70.237 |
45.379 |
9.896 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.050 |
15.475 |
3.833 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
47.187 |
29.904 |
6.063 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
76.480 |
47.911 |
41.913 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.000 |
0.000 |
|
|
|
|
Proposed Dividend on Equity Shares |
1.482 |
0.000 |
|
|
|
|
Tax on Dividend |
0.240 |
0.000 |
|
|
|
|
Prior Period Adjustments |
(0.145) |
1.335 |
|
|
|
BALANCE CARRIED
TO THE B/S |
120.090 |
76.480 |
47.911 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods on F.O.B. basis |
2.992 |
11.951 |
14.853 |
|
|
TOTAL EARNINGS |
2.992 |
11.951 |
14.853 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
NA |
859.800 |
972.600 |
|
|
TOTAL IMPORTS |
NA |
859.800 |
972.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
76.24 |
60.54 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.13
|
1.94
|
0.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.18
|
2.95
|
0.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.07
|
8.13
|
1.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.26
|
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.85
|
2.17
|
2.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.55
|
2.77
|
3.75 |
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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------ |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
------ |
|
22] |
Litigations that the firm
/ promoter 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 |
No |
|
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 |
YEAR IN RETROSPECT
The character of any
organization is not only refined but also defined with the way it handles
itself in challenging more so than in opportune time. The past decade has
witnessed a sustained growth for their Company in the wake of proactive
initiatives taken, despite challenges faced. Going by the numbers posted, they
have not only demonstrated strong resilience but also have build robust
platform upon which they shall further scale up their existing businesses and
shape the future of the Company. Shaping the future calls for identifying
opportunities and mitigating potential risks in order to create a sustainable
value creating organization, having requisite immunity from the Industry as
well as macro-economical risks. This calls for a three pronged approach adding
more segments, reaching new geographical bounds and strengthening cost
structures.
Their initiatives
translated into a stout performance during the year. The Company posted an
excellent topline of Rs.2200.000 Millions, 43% up against Rs.1540.000 Millions
in F.Y.2009-10. Their EBIDTA improved by 123% to Rs.105.100 Millions in
F.Y.2010-11 against Rs.47.100 Millions in F.Y.2009-10. The inventory levels
were also maintained at the optimum levels so that the inventory carrying costs
both in terms of warehousing as well as finance costs could be brought down
effectively.
Above performance
has been achieved due to their constant marketing efforts winning them
continuous orders from the major domestic corporate giants. The Company has
also been very actively focused on strengthening its human resource at the top
of the hierarchy by inducting and availing the services of the successful
professional to the umpteen benefit of the company. The Directors are making
their best efforts to broaden the segmental base so as to provide stability to
the company under the worst conditions of the economy of the country or global
economy as a whole.
FUTURE STRATEGY
The Company is
committed to work with a sense of purpose, with an inspiring vision and with a
strategy of transformation. Therefore, the Company will not only face the
contemporary challenges, but will also pledge its unflinching allegiance to a
future that has multidimensional multipliers for growth. And to achieve all
that is visualized by the Company, they have shifted the focus of the existing
strategy of capitalizing in the domestic market and sourcing products/material
only from US or European based MNCs to exploring export potential in SARC
countries and sourcing of low cost products/materials from Asia Pacific. The Company
has been putting in rigorous efforts for achieving the desired goals.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51490MH2004PTC147822 |
|
Name of the
company |
VIMAL INTERTRADE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-310 Shyam Kamalagarwal Market, Vile Parle
(East), Mumbai – 400057, Maharashtra, India Email Id : resources@vimalagencies.net |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90354117 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) |
|
Particular of
charge holder |
Bank of Baroda,
Vile Parle (East) Branch, Nitin Niwas, 47, M. G. Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India Email Id : shirishshetye@gmail.com |
|
Nature of
instrument creating charge |
Supplemental
Composite Agreement of Hypothecation of Goods, Book-Debts, Moveable Machinery
and Vehicles |
|
Date of
instrument Creating the charge |
27.04.2011 |
|
Amount secured by
the charge |
Rs.681.600
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest on the
cash credit limit at the rate of 4% over Base Rate of the Bank per annum with
monthly rests Terms of
repayment On Demand Margin 25% on the Stocks
and Book Debts. 10% cash margin
in respect of LC and G'tee facility. 5% on Notional
Credit exposure for FWRD cover limit of 103.22 Extent and
operation of the charge The charge is
modified to secure Cash Credit (Stock and Book Debts) - Rs.180.000 Millions,
Inland/Fgn.LC - Rs.450.000 Millions [with sub-limit : Bank Guarantee -
Rs.40.000 Millions] and National Credit exposure FRWD cover limit Rs.103.22)
- Rs.51.600 Millions, aggregating to Rs.681.600 Millions together with
interest, additional interest, further interest by way of liquidated damages,
compound interest, commitment charges, commission, Premia on pre-payment,
cost, charges and expenses |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stocks of Raw
Materials, SIP, FGs, consumable spares and packing materials All the Book
Debts in respect of supplies made to various Govt. Departments or limited
companies etc. as evidenced by supply bills, receipted challans/receipted
invoices deposited with the Bank All the moveable
machinery of the Borrower including all stores and spare parts, both present
and future and all the vehicles |
|
Date of
instrument modifying the charge |
09.02.2010 |
|
Particulars of
the present modification |
The charge is
increased upto Rs. 681.600 Millions to cover Cash Credit (Stock and Book
Debts) - Rs. 180.000 Millions, Inland/Fgn.LC - Rs. 450.000 Millions [with
sub-limit: Bank Guarantee - Rs. 40.000 Millions] and National Credit exposure
FRWD cover limit - Rs. 51.600 Millions
|
FIXED ASSETS
·
Computer Systems
·
Office Equipments
·
Furniture and Fixture
·
Vehicle
HISTORY:
Today – Purchase, storage and
transport of more than 800 diverse Speciality Chemicals
Representing 3 of world’s 5 top chemical companies and several other renowned
MNCs and servicing 5000 + customers.
Country wide Coverage with 14 sites, 5 offices and 9 warehouses. With a
turnover of Rs. 5000.000 Millions and total strength of 105 employees, Vimal
aims to achieve greater heights as it has both the desire and dedication to get
there.
2011 – Started warehouse at Daman and
Mahuva. Vimal completes 25 years of existence. Set up regional office at
Kolkata.
2010 – Sales exceeds
turnover US $ 100 Million
2009 – Acquired
additional land for warehouse of 125000 sq.ft (Work in progress). Booked
corporate office (expected to be ready by Q2 2012)
2008 – Sales exceeds
turnover US $ 50 Million. Set up warehouses at Ghaziabad, Chennai, Kolkata and
Gandhidham.
2007 – Geographical
Expansion in Chennai, Delhi, Gandhidham, Kolkata. Industrial Expansion and
Market Facing Segments (Care chemicals, Textiles, Plastics and PU.
2005 – Vimal registered
as Private Ltd Company with office and warehouse at Mumbai.
2003 – First Exports to
Bangladesh
1996 – Initiated stock
and sale for Degussa AG. First import of SVR from Union Carbide
1986 – Established as a
proprietorship firm for trading of Solvents with a turnover of Rs. 0.040
Millions.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.96 |
|
|
1 |
Rs.87.10 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
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 |
5 |
|
--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 |
|
45 |
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.