|
Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ELDER INSTRUMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office Unit No.604, 6th Floor, Morya Landmark II, Off New |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.09.1993 |
|
|
|
|
Com. Reg. No.: |
11-074117 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.005 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120MH1993PTC074117 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME04202C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE1294R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Weighing Scale and Systems and Industrial
Instruments and Trading of Medical Devices. |
|
|
|
|
No. of Employees
: |
250 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The latest
financial of the company are not made available. As per previous year’s, we
found that the liquidity of the company is weak. Profitability appeared to be
low. However, trade relations are reported as fair. Business is active.
Payments terms are unknown in absence of latest financials. 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
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 |
FITCH |
|
Rating |
LONG TERM RATING B |
|
Rating Explanation |
Highly speculative |
|
Date |
21.05.2012 |
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
|
Name : |
Mr. Rakesh Vageria |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9167700807 |
|
Date : |
19.11.2012 |
LOCATIONS
|
Registered Office / Corporate Office 1 / Regional Office 1: |
Office Unit No.604, 6th Floor, Morya Landmark II, Off New
Link Road, Andheri (West), Mumbai – 400053, Maharashtra |
|
Tel. No.: |
91-22-61176600 |
|
Mobile No.: |
91-9167700807 (Mr. Rakesh Vageria) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 Sq Ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office
2 : |
"Elder House", C-9, Dalia Industrial Estate, Off
Veera Desai Road, Andheri (W), Mumbai - 400 053, Maharashtra, India |
|
Tel. No.: |
91-22-26730058 to 67 / 26730073 / 26351700 / 1 / 66485317
/ 66485449 |
|
Fax No.: |
91-22-26730051 / 0054 / 56929172 / 2632004 / 2276 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Factory : |
W-345, TTC Industrial Area, Rabale
MIDC, Navi Mumbai – 400701, |
|
Tel. No.: |
91-22-276056600 / 27690120 / 21 /
27693694 |
|
Fax No.: |
91-22 -27690122 |
|
Mobile No.: |
91-9324704958 (Mr. Ashish Harirnis) |
|
E-Mail : |
|
|
Area : |
8600 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Regional Office 1 : |
101-103, Tiwari Chambers, 11-B/5, |
|
Tel. No.: |
11-25825601 / 05 |
|
Fax No.: |
11-25825606 |
|
E-Mail : |
|
|
|
|
|
Regional Office 2 : |
12, |
|
Tel. No.: |
91-33-23666757 |
|
Fax No.: |
91-33-24668953, |
|
E-Mail : |
|
|
|
|
|
Regional Office 3 : |
" |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Alok Jagdish Saxena |
|
Designation : |
Director |
|
Address : |
11, Anjali, 1St Floor, Behind Radio Club, Colaba, Mumbai –
400005, |
|
Date of Birth/Age : |
03.10.1965 |
|
Date of Appointment : |
24.09.1993 |
|
DIN No.: |
00751225 |
|
Name : |
Mrs. Niti Alok Saxena |
|
Designation : |
Director |
|
Address : |
11, Anjali, 1St Floor, Behind Radio Club, Colaba, Mumbai –
400005, |
|
Date of Birth/Age : |
22.09.1969 |
|
Date of Appointment : |
24.09.1993 |
|
DIN No.: |
01482005 |
|
Name : |
Mrs. Shalini Karan Kumar |
|
Designation : |
Director |
|
Address : |
Flat No,1101, Shivkutir, Near Jankidevi School, Mhada-Versova, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1969 |
|
Date of Appointment : |
12.04.2005 |
|
DIN No.: |
00751917 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Vageria |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Jagdish Saxena |
|
17000 |
|
Sneha Saxena |
|
17000 |
|
Alok Saxena |
|
19500 |
|
Niti Saxena |
|
18000 |
|
Dr. Anuj Saxena |
|
17000 |
|
Semit Pharmaceuticals and Chemicals Private Limited, |
|
343000 |
|
Akshaya Holdings Private Limited, |
|
254000 |
|
Indarts Export Private Limited, |
|
170000 |
|
Elder Pharaceuticals Limited, |
|
765000 |
|
Elder Healthcare Limited, |
|
40000 |
|
Elder Projects Limited, |
|
40000 |
|
Total |
|
1700500 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
95.00 |
|
Directors or relatives of Directors |
5.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Weighing Scale and Systems and Industrial
Instruments and Trading of Medical Devices. |
||||
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|
||||
|
Products : |
|
||||
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||||
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Exports : |
|
||||
|
Products : |
·
Weighing Scale and Systems ·
Industrial Instruments ·
Medical Devices |
||||
|
Countries : |
Sri Lanka |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
·
Germany ·
China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
|
|
Actual
Production |
|
|
|
|
|
|
|
Industrial Instruments, Weighing Machines and Systems |
NOS. |
|
|
787 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
·
Rotex Manufacturing Company Private Limited |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
End Users · Cipla Limited · Indian Oil Corporation Limited · Bharat Petroleum Corporation Limited · Hindustan Petroleum Corporation Limited (HPCL) · Rashtriya Chemicals and Fertilizers Limited(A Govt. of India Undertaking) · Lupin Pharmaceuticals · GlaxoSmithKline Pharmaceuticals · Sun Pharma · Pidilite · Godrej Limited · Emcure Pharmaceuticals Limited · Hindustan Insecticides Limited · Indoco Remedies Limited · Wockhardt Limited · Kirloskar Brothers Limited · Atul Limited · Unichem Laboratories Limited · USV Limited · Ajanta Pharma Limited · Siemens Limited · Glenmark |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) (In Office + In Factory) |
||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Cash Credit and
Term Loan : Rs.150.000 Millions (From Corporation Bank)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Jayesh Sutaria Associates Chartered Accountants |
|
Address : |
601/B, Crystal Plaza, Opposite Fame Adlabs, New Link Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26734500 |
|
Fax No.: |
91-22-66780879 |
|
E-Mail : |
|
|
PAN.: |
AACPS1712P |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1700500 |
Equity Shares |
Rs.10/- each |
Rs.17.005
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 |
17.005 |
17.005 |
17.005 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.272 |
8.340 |
5.712 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
26.277 |
25.345 |
22.717 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
104.554 |
73.800 |
62.459 |
|
|
2] Unsecured Loans |
15.816 |
18.095 |
16.699 |
|
|
TOTAL BORROWING |
120.370 |
91.895 |
79.158 |
|
|
DEFERRED TAX LIABILITIES |
1.610 |
1.575 |
1.576 |
|
|
|
|
|
|
|
|
TOTAL |
148.257 |
118.815 |
103.451 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.093 |
15.940 |
17.324 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.565 |
0.565 |
0.565 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
116.864
|
98.258
|
79.754 |
|
|
Sundry Debtors |
89.077
|
82.219
|
91.398 |
|
|
Cash & Bank Balances |
8.161
|
7.956
|
6.711 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
12.259
|
12.670
|
16.606 |
|
Total
Current Assets |
226.361
|
201.103
|
194.469 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
78.832
|
81.406
|
59.691 |
|
|
Other Current Liabilities |
18.044
|
16.471
|
44.157 |
|
|
Provisions |
0.916
|
0.950
|
5.059 |
|
Total
Current Liabilities |
97.792
|
98.827
|
108.907 |
|
|
Net Current Assets |
128.569
|
102.276
|
85.562 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.030 |
0.034 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
148.257 |
118.815 |
103.451 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
230.595 |
220.526 |
217.839 |
|
|
|
Dividend Received |
0.019 |
0.016 |
0.016 |
|
|
|
Sales Tax Refund |
0.000 |
0.162 |
0.000 |
|
|
|
Other Income |
0.011 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
230.625 |
220.704 |
217.855 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
136.315 |
132.035 |
109.010 |
|
|
|
Personnel Expenses |
38.605 |
43.410 |
48.535 |
|
|
|
Other Expenses |
30.557 |
26.188 |
41.022 |
|
|
|
Loss on sale of Assets |
0.282 |
0.000 |
0.200 |
|
|
|
TOTAL (B) |
205.759 |
201.633 |
198.767 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
24.866 |
19.071 |
19.088 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.577 |
13.818 |
14.445 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.289 |
5.253 |
4.643 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.330 |
2.146 |
1.974 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.959 |
3.107 |
2.669 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.735 |
0.850 |
2.044 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.224 |
2.257 |
0.625 |
|
|
|
|
|
|
|
|
|
Add / (Less) |
Income Tax for
earlier years |
(0.292) |
0.371 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.340 |
5.712 |
5.087 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.272 |
8.340 |
5.712 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.777 |
0.000 |
3.706 |
|
|
TOTAL EARNINGS |
0.777 |
0.000 |
3.706 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
58.192 |
47.804 |
54.540 |
|
|
|
Raw Materials |
0.080 |
0.674 |
0.975 |
|
|
TOTAL IMPORTS |
58.272 |
48.478 |
55.515 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.72 |
1.32 |
0.36 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
274.000 |
Expected Sales (2012-2013): Rs.300.000 Millions
The above information has been parted by Mr. Rakesh Vageria
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.53
|
1.02
|
0.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.85
|
1.41
|
1.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.80
|
1.43
|
1.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.12
|
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.30
|
7.53
|
8.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
2.03
|
1.79 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
-
For Materials and Expenses |
78.832
|
81.406
|
59.691 |
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
NOTE:
The registered office address of the company has been shifted from “"Elder House", C-9, Dalia Industrial Estate, Off Veera Desai Road, Andheri (W), Mumbai - 400 053, Maharashtra, India” to the present address w.e.f. 31.08.2011.
WORKING OF THE
COMPANY
The operations
during the year showed an increase of almost 4.50% as compared to previous
year. Profits before tax and after tax stood at Rs.1.959 Millions and Rs.1.224
Millions as compared to Rs.3.107 Millions and Rs.2.257 Million respectively in
the previous year. Provision for Income Tax and Deferred Tax for the year was
Rs.0.700 Million and Rs.(0.035) Million respectively and balance profit for the
year along with accumulated surplus aggregating Rs.9.272 Millions has been
carried over to the Balance Sheet. In view of the small amount of profits your
Directors have decided to skip dividend. The reasons for decline in profit were
due to increase in manpower and expenses for development and marketing of the
new products developed by the Company as well as increase in the interest cost.
CONTINGENT
LIABILITIES
(Rs.
In Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
|
Claims against the company Not acknowledged as debts |
3.300 |
3.300 |
|
Unexpired letters of credit |
41.532 |
28.033 |
FORM 8
|
Corporate identity number of the company |
U29120MH1993PTC074117 |
|
Name of the company |
ELDER INSTRUMENTS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Office Unit No.604, 6th Floor, Morya Landmark II, Off New
Link Road, Andheri (w), Mumbai – 400053, Maharashtra, India E-Mail Id : s.p.date@elderindia.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
80031666 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of charge holder |
Corporation Bank IFB Branch, 104, Bharat House, E-Mail Id : cb443@corpbank.co.in
|
|
Nature of instrument creating charge |
Supplemental common deed of hypothecation of movables / assets / debts |
|
Date of instrument Creating the charge |
02.12.2010 |
|
Amount secured by the charge |
Rs.150.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest as stipulated by bank from time to time as per sanction letter of the
bank Terms of
repayment As stipulated by bank from time to time as per sanction letter of the
bank Margin As stipulated by bank from time to time as per sanction letter of the
bank Extent and
operation of the charge As stipulated by bank from time to time total limit rs.150.000
Millions Others As stipulated by bank from time to time and as per agreement attached
and as per sanction letter of the bank |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
|
|
Date of instrument modifying the charge |
23.01.2009 |
|
Particulars of the present modification |
By this modification earlier limit of 9.50 is increased by additional
limit of rs.55.000 Millions. Total limit now enhanced to rs.150.000 Millions,
all security as given by original charge as well as by modifications will be
continued for this modification. |
TRADE REFERENCES:
· Rotex Manufacturing Company Private Limited
· Cipla Limited
FIXED ASSETS
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.54.97 |
|
|
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.