MIRA
INFORM REPORT
|
Report Date : |
22.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ACRYSIL LIMITED (w.e.f. 22.02.1999) |
|
|
|
|
Formerly Known
As : |
ACRYSIL ( |
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|
|
Registered
Office : |
704, Centre Point, J. B. Nagar, Andheri – Kurla Road
(East), Mumbai – 400059, Maharashtra |
|
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
19.01.1987 |
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|
Com. Reg. No.: |
11-042283 |
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Capital
Investment / Paid-up Capital : |
Rs. 29.720
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L26914MH1987PLC042283 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMA20070B |
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PAN No.: [Permanent Account No.] |
AABCA0583C |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing
and |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having good track record. There
appears sharp dip in the profitability of the company. However, general financial position of the company appears to be good.
Fundamental appears to be strong. Trade relations are reported to be fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal 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 |
|
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 |
ICRA |
|
Rating |
Fund based bank facilities : (ICRA) BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding timely
servicing of financial obligation. It carry moderate credit risk. |
|
Date |
November 2011 |
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 : |
704, Centre Point, J. B. Nagar, Andheri – Kurla Road (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-66711101/ 66711105 |
|
Fax No.: |
91-22-66711109 |
|
E-Mail : |
|
|
Website : |
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|
|
Head Office/ Factory : |
Survey No.
312, Bhavnagar - Rajkot Highway, Navagam, Vartej, Bhavnagar - 364060,
Gujarat, India |
|
Tel. No.: |
91-278-2540218/ 2540893/ 2540392/ 2540232 |
|
Fax No.: |
91-278-2540558 |
|
E-Mail : |
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|
Corporate Offices : |
Bangalore Office with Showroom : # 253/A, MDR House, 7th Block, Kanakapura Main
Road, Jayanagar, Bangalore-560082, Karnataka, India Tel. :
91-080-26642157 Email : kitchens@carysil.com Ahmedabad Office : U.G.F. Shop No.15-16, Rivera Arcade, Near Prahladnagar Garden, 100ft
Road, Tel. : 91-79-26937082 /
40034112 Fax : 91-79-40034112 Delhi Office: 11, First Floor Mansarover Garden, Opposite, Saheed A Azam Bhagatsingh
Park, Near Destimoney Kirti Nagar, New Delhi – 110015, India Tel. : +91-011-40524889 |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Ashwin Mohanlal Parekh |
|
Designation : |
Executive Chairman |
|
Address : |
Devi Bhuvan, Victoria Park Road, Bhavnagar - 364002, Gujarat, India |
|
Date of Birth/Age : |
12.07.1939 |
|
Date of Appointment : |
19.01.1987 |
|
|
|
|
Name : |
Mr. Chirag Ashwin Parekh |
|
Designation : |
Vice Chairman and Managing Director |
|
Address : |
Devi Bhuvan, Victoria Park Road, Bhavnagar - 364002, Gujarat, India |
|
Date of Birth/Age : |
30.08.1969 |
|
Date of Appointment : |
02.11.2002 |
|
|
|
|
Name : |
Mr. M. Nageswara Rao |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Jagdish Ramanlal Naik |
|
Designation : |
Director |
|
Address : |
6, Padma, S V Road, Vile Parle (West), Mumbai - 400056, Maharashtra,
India |
|
Date of Birth/Age : |
23.09.1958 |
|
Date of Appointment : |
29.03.1989 |
|
|
|
|
Name : |
Mr. Ajit Rasiklal Sanghvi |
|
Designation : |
Director |
|
Address : |
1001, Amardeep, Plot No. 39, JVPD Scheme Road 3, Vile Parle (West),
Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1957 |
|
Date of Appointment : |
31.01.2000 |
|
|
|
|
Name : |
Mr. Minoo D Daver |
|
Designation : |
Director |
|
Address : |
191, Mont Blanc Dadyseth Hill, August Kranti Marg, Mumbai - 400036,
Maharashtra, India |
|
Date of Birth/Age : |
29.10.1937 |
|
Date of Appointment : |
31.01.2000 |
|
|
|
|
Name : |
Mr. Apurva R Shah |
|
Designation : |
Director |
|
Address : |
25, Sagar Mahal, 65 Walkeshwar Road, Mumbai - 400006, Maharashtra,
India |
|
Date of Birth/Age : |
05.01.1970 |
|
Date of Appointment : |
28.10.2006 |
|
|
|
|
Name : |
Mr. Rustam Navel Mulla |
|
Designation : |
Director |
|
Address : |
15, Orion, Oomer Park, Bhulabhai Desai Road, Mumbai - 400036,
Maharashtra, India |
|
Date of Birth/Age : |
20.11.1971 |
|
Date of Appointment : |
29.04.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Damodar Hargovindbhai Sejpal |
|
Designation : |
Company Secretary |
|
Address : |
Block No. 304, Aksharvijay Apartment, Nr Grden, Ambawadi Keshod,
junagadh-362220, |
|
Date of Birth/Age : |
04.12.1978 |
|
Date of Appointment : |
18.11.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Category
of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1383332 |
46.55 |
|
|
1383332 |
46.55 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1383332 |
46.55 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
100 |
0.00 |
|
|
50 |
0.00 |
|
|
150 |
0.01 |
|
|
|
|
|
|
81951 |
2.76 |
|
|
|
|
|
|
819544 |
27.58 |
|
|
154523 |
5.20 |
|
|
532500 |
17.92 |
|
|
219139 |
7.37 |
|
Overseas Corporate
Bodies |
301600 |
10.15 |
|
Directors and their
Relatives and Friends |
6456 |
0.22 |
|
|
5305 |
0.18 |
|
|
1588518 |
53.45 |
|
Total Public shareholding (B) |
1588668 |
53.45 |
|
Total (A)+(B) |
2972000 |
100.00 |
|
© Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
2972000 |
0.00 |
(1)
Indian
Individuals
/ Hindu Undivided Family
Individual
shareholders holding nominal share capital up to Rs.0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacturing
and |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Bhavnagar, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Sanghavi and Company Chartered Accountants |
|
Address : |
Bhavnagar, Gujarat, India |
|
|
|
|
Associates : |
Ř Industrial
Jewels Private Limited Ř Meccanica Plast
Private Limited Ř Desai Desai
Carrimjee and Mulla |
|
|
|
|
Subsidiaries : |
Ř Acrysil Steel Private
Limited Ř Acrysil Quartz
Private Limited Ř Acrysil Gmbh,
Germany |
CAPITAL STRUCTURE
AFTER 15.09.2012
Authorised Capital : Rs. 50.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 44.580
Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,972,000 |
Equity Shares |
Rs.10/- each |
Rs. 29.720
Millions |
|
|
|
|
|
a. Equity shares issued as fully paid up bonus shares or otherwise than
by cash during the preceding five years: Nil
Share Capital Reconciliation:
|
Particulars |
Equity Shares |
|
|
|
No. of shares |
Amount |
|
Shares outstanding at the beginning of the year |
2,972,000 |
29.720 |
|
Shares issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
2,972,000 |
29.720 |
Shares held by each shareholder holding more than five per cent shares:
|
Name of Shareholder |
31.03.2012 |
|
|
|
No. of shares |
% of holding |
|
Chirag A Parekh |
1,223,964 |
41.18% |
|
Schock & Co GmbH |
301,600 |
10.15% |
|
Piyush Vrajlal Mehta |
196,900 |
6.63% |
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 |
29.720 |
29.720 |
29.720 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
251.027 |
225.427 |
178.687 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
280.747 |
255.147 |
208.407 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
137.906 |
139.963 |
90.029 |
|
|
2] Unsecured Loans |
26.160 |
8.300 |
2.718 |
|
|
TOTAL BORROWING |
164.066 |
148.263 |
92.747 |
|
|
DEFERRED TAX LIABILITIES |
16.900 |
13.900 |
12.635 |
|
|
|
|
|
|
|
|
TOTAL |
461.713 |
417.310 |
313.789 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
205.621 |
203.841 |
176.305 |
|
|
Capital work-in-progress |
3.998 |
4.679 |
7.257 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.901 |
3.260 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
104.484
|
98.043 |
96.977
|
|
|
Sundry Debtors |
148.614
|
162.319 |
108.575
|
|
|
Cash & Bank Balances |
14.745
|
10.934 |
10.295
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
92.595
|
71.513 |
33.582
|
|
Total
Current Assets |
360.438
|
342.809 |
249.429
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
51.907
|
70.567 |
62.284
|
|
|
Other Current Liabilities |
40.270
|
45.905 |
24.704
|
|
|
Provisions |
27.068
|
20.807 |
32.214
|
|
Total
Current Liabilities |
119.245
|
137.279 |
119.202
|
|
|
Net Current Assets |
241.193
|
205.530 |
130.227
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
461.713 |
417.310 |
313.789 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
622.292 |
554.038 |
460.320 |
|
|
|
Other Income |
8.910 |
3.726 |
2.035 |
|
|
|
TOTAL (A) |
631.202 |
557.764 |
462.355 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
203.793 |
|
|
|
|
|
Purchases of Stock-in-Trade |
59.037 |
23.661 |
|
|
|
|
Changes in Inventories |
(11.152) |
(5.283) |
|
|
|
|
Employee Benefits Expenses |
55.655 |
51.393 |
|
|
|
|
Other Expenses |
216.470 |
208.281 |
|
|
|
|
TOTAL (B) |
523.803 |
440.540 |
352.049 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
107.399 |
117.224 |
110.306 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.151 |
12.962 |
9.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
86.248 |
104.262 |
101.279 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.181 |
28.578 |
26.521 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
53.067 |
75.684 |
74.758 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.650 |
15.127 |
15.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
39.417 |
60.557 |
59.096 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42.307 |
40.567 |
45.218 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
45.000 |
50.000 |
|
|
|
Dividend |
11.888 |
11.888 |
11.789 |
|
|
|
Tax on Dividend |
1.928 |
1.929 |
1.958 |
|
|
BALANCE CARRIED
TO THE B/S |
37.908 |
42.307 |
40.567 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
465.434 |
423.745 |
355.871 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
136.765 |
|
|
|
|
|
Components and Spare Parts (Accessories ) |
34.801 |
15.004 |
|
|
|
|
Stainless Steel Sink |
24.707 |
11.234 |
|
|
|
|
Foodwaste Disposer |
3.107 |
2.809 |
|
|
|
|
Faucets |
2.662 |
4.221 |
|
|
|
|
Engineering Stone |
1.096 |
1.162 |
|
|
|
|
Misc Traded Goods |
0.000 |
0.946 |
|
|
|
|
Capital Goods |
14.318 |
30.939 |
|
|
|
TOTAL IMPORTS |
217.456 |
184.260 |
152.936 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.26 |
20.38 |
20.05 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
|
|
1st Quarter |
2nd Quarter |
|
Sales Turnover |
167.810 |
218.890 |
|
Total Expenditure |
143.850 |
180.550 |
|
PBIDT (Excl
OI) |
23.960 |
38.340 |
|
Other Income |
1.660 |
1.960 |
|
Operating
Profit |
25.620 |
40.300 |
|
Interest |
5.760 |
5.730 |
|
Exceptional
Items |
0.000 |
0.000 |
|
PBDT |
19.860 |
34.570 |
|
Depreciation |
8.360 |
9.070 |
|
Profit
Before Tax |
11.500 |
25.500 |
|
Tax |
1.500 |
5.310 |
|
Provision and Contingencies |
0.000 |
0.000 |
|
Reported PAT |
10.000 |
20.190 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
10.000 |
20.190 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.24 |
10.86 |
12.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.53 |
13.66 |
16.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.37 |
13.85 |
17.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.30 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.01 |
1.12 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.02 |
2.50 |
2.09 |
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 |
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 |
OPERATIONS OF THE
COMPANY:
PERFORMANCE:
During the current
financial year, the Company took various growth initiatives to improve its
volume, which helped the Company to post an impressive performance for the
year. Sales turnover for the year was Rs. 622.292 Millions against Rs. 554.038
Millions in the previous year. The net profit for the year was Rs. 39.417
Millions compared to Rs. 60.557 Millions of previous year.
REVIEW OF
OPERATIONS:
The Company has
achieved Turnover of Rs. 622.292 Millions compared to previous year of Rs.
554.038 Millions, recording 12.32% higher. The operating profit before finance
cost, depreciation and tax is Rs. 107.399 Millions against Rs. 117.225 Millions
of the previous year. The profit before tax is Rs. 53.067 Millions against Rs.
75.685 Millions of the previous year. The Net Profit after Tax for the year is
Rs. 39.417 Millions compared to Rs. 60.557 Millions of previous year.
CONTINGENT LIABILITIES:
• In respect of Excise Duty claim disputed by Excise Authorities: Rs.
0.110 Million
• In respect of corporate guarantees given by the company on behalf of a
subsidiary company Rs. 84.000 Millions
FIXED ASSETS:
Tangible Assets:
Ř Freehold Land
Ř Buildings
Ř Plant and Machinery
Ř Moulds and Dies
Ř Vehicles
Ř Furniture and Fixtures
Ř Office Equipment
Intangible Assets:
Ř Computer Software
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. 55.20 |
|
|
1 |
Rs. 87.79 |
|
Euro |
1 |
Rs. 70.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.