MIRA
INFORM REPORT
|
Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMOLI ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
322/ 4, 40 Shed Area, GIDC, Vapi – 396 195, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
19.09.1991 |
|
|
|
|
Com. Reg. No.: |
04-016288 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.46.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1991PTC016288 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTA01797F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA3990Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Bulk Drugs. |
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|
|
|
No. of Employees
: |
300 (Approximately) |
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 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an 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) |
|
|
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 |
CARE |
|
Rating |
LONG TERM BANK FACILITIES : CARE BB |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation |
|
Date |
February 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/ Factory 1 : |
322/ 4, 40 Shed Area, GIDC, Vapi – 396 195, |
|
Tel. No.: |
91-260-22424882/
22400383 |
|
Mobile No.: |
91-9819871700 (Mr. Ramanuj Malani) |
|
Fax No.: |
91-260-22431982 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
60000
sq. ft. |
|
Location : |
Leased |
|
|
|
|
Corporate
Office/ Factory 2 : |
407, Dalamal
House, |
|
Tel. No.: |
91-22-22854715 |
|
Fax No.: |
91-22-22041400 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot
No. 421 to 425, 432, 433 and 436, Taluka – Padra, District: Vadodara, |
|
Tel. No.: |
91-2662-3200383 |
|
|
|
|
Offices and Stock Points : |
Located at: ·
Mumbai ( ·
·
·
·
Jebel Ali (UAE) ·
|
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Manish Umed Doshi |
|
Designation : |
Director |
|
Address : |
1201 A, Chandanbala Apartment, |
|
Date of Birth/Age : |
07.10.1961 |
|
Qualification : |
B. Pharma |
|
Date of Appointment : |
15.10.1994 |
|
DIN No.: |
00210389 |
|
|
|
|
Name : |
Mrs. Vandana Manish Doshi |
|
Designation : |
Director |
|
Address : |
1201 A, Chandanbala Apartment, |
|
Date of Birth/Age : |
23.08.1962 |
|
Date of Appointment : |
19.01.1991 |
|
DIN No.: |
00211618 |
|
|
|
|
Name : |
Mr. Rupesh Suryakant Kamdar |
|
Designation : |
Director |
|
Address : |
Flat No.603, Somnath CHS, |
|
Date of Birth/Age : |
11.04.1971 |
|
Date of Appointment : |
26.09.2009 |
|
DIN No.: |
02358348 |
|
|
|
|
Name : |
Mr. Kundan Lal Khurana |
|
Designation : |
Director |
|
Address : |
103, Sector 35A, |
|
Date of Birth/Age : |
22.09.1942 |
|
Date of Appointment : |
26.09.2009 |
|
DIN No.: |
02193237 |
|
|
|
|
Name : |
Mr. Mukundray Harshadray Bhatt |
|
Designation : |
Director |
|
Address : |
Ananya, Tithal Road, Valsad – 396 001, |
|
Date of Birth/Age : |
28.09.1951 |
|
Date of Appointment : |
26.09.2009 |
|
DIN No.: |
02200427 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vandna
M. Doshi |
|
1631776 |
|
Manish
U. Doshi |
|
1070496 |
|
|
|
78880 |
|
Manish
U. Doshi (HUF) |
|
498848 |
|
Tolstoy
Investments Private Limited |
|
320000 |
|
Port
Limited |
|
1000000 |
|
Total |
|
4600000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
21.74 |
|
Bodies
corporate |
|
6.96 |
|
Directors
or relatives of directors |
|
71.30 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Bulk Drugs. |
|
|
|
|
Products : |
Bulk
Drugs |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
*Installed Capacity (per annum ) |
Actual Production |
|
|
|
|
|
|
Bulk
Drugs |
Tons |
1800.00 |
1601.70 |
NOTE
* Installed capacity is certified by the managing
director and not verified by the auditors, since this is a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||||||||||||||
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Bankers : |
v
State Bank of Industrial Finance Branch, The Arcade, World Trade Centre, Cuffe Parade, Mumbai – 400 005, Maharashtra, India v EXIM Bank, World Trade Centre, Cuffe Parade, Mumbai – 400 005, Maharashtra, India v ICICI
Bank Limited, 215, Free Press House, Free Press Journal Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India v ICICI
Bank Limited, Land Mark Race Cource Circle, Alkapuri, Baroda – 390 015,
Gujarat, India |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Contractor,
Nayak and Kishnadwala Chartered
Accountants |
|
Address : |
Jash Chambers, 7, Sir. P. M. Road, Mumbai, Maharashtra, India |
|
Tel No.: |
91-22-66359681/82/83 / 66230 600 / 22661819 |
|
PAN No.: |
AACFC8587E |
|
|
|
|
Associates/Subsidiaries : |
v Umedica Laboratories Limited, 403, Dalamal House, J. B. Road, Nariman Point, Mumbai -
400 021, Maharashtra, India Tel.
No. 91-22-285 4715 Fax
No. 91-22-204 1400 E-Mail:
umedica@vsnl.com
Website: http://www.amoliindia.com
-It
is engaged in manufacturing and exporting of a wide range of injectables,
tablets, capsules, suspensions and dry syrups, etc. -Subject
is Government Recognised Export House. v
Bharat Mercantile Company v
Sweta
Pharma Private Limited v
Amoli
Infotech Private Limited v KMI Business Technologies Private Limited v Tolstory Investment Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Share |
Rs.10/- each |
Rs.125.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4600000 |
Equity Share |
Rs.10/- each |
Rs.46.000
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 |
46.000 |
46.000 |
46.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
235.554 |
232.375 |
194.377 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
281.554 |
278.375 |
240.377 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
243.061 |
288.031 |
251.839 |
|
|
2] Unsecured Loans |
145.253 |
160.363 |
172.900 |
|
|
TOTAL BORROWING |
388.314 |
448.394 |
424.739 |
|
|
DEFERRED TAX LIABILITIES |
19.830 |
21.850 |
23.280 |
|
|
|
|
|
|
|
|
TOTAL |
689.698 |
748.619 |
688.396 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
354.517 |
360.475 |
385.880 |
|
|
Capital work-in-progress |
0.220 |
6.773 |
11.594 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.117 |
1.117 |
0.117 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
270.935
|
212.321
|
141.048 |
|
|
Sundry Debtors |
378.920
|
374.075
|
386.563 |
|
|
Cash & Bank Balances |
20.403
|
8.276
|
10.557 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
125.909
|
91.768
|
69.730 |
|
Total
Current Assets |
796.167
|
686.440
|
607.898 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
404.552
|
266.347
|
276.764 |
|
|
Other Current Liabilities |
47.017
|
29.755
|
31.437 |
|
|
Provisions |
10.754
|
10.084
|
8.892 |
|
Total
Current Liabilities |
462.323
|
306.186
|
317.093 |
|
|
Net Current Assets |
333.844
|
380.254
|
290.805 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
689.698 |
748.619 |
688.396 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
|
1227.505 |
1340.877 |
|
|
|
Other Income |
|
46.332 |
16.862 |
|
|
|
TOTAL (A) |
1363.901 |
1273.837 |
1357.739 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
759.389 |
713.386 |
|
|
|
Manufacturing Expenses |
|
198.435 |
178.266 |
|
|
|
Personal Cost |
|
117.504 |
104.779 |
|
|
|
Administration & Selling Expenses |
|
84.126 |
151.525 |
|
|
|
Increase/Decrease in Stock |
|
(35.185) |
68.927 |
|
|
|
Prior Period Income/ Expenses |
|
0.000 |
0.274 |
|
|
|
TOTAL (B) |
NA |
1124.269 |
1217.157 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
149.568 |
140.582 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
39.770 |
67.609 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
58.947 |
109.798 |
72.973 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
56.720 |
61.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
NA |
53.078 |
11.972 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
15.080 |
2.856 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
3.178 |
37.998 |
9.116 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
181.888 |
143.890 |
135.778 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
0.000 |
1.004 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
181.888 |
143.890 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods (FOB) |
NA |
383.846 |
354.942 |
|
|
TOTAL EARNINGS |
NA |
383.846 |
354.942 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
444.698 |
341.961 |
|
|
|
Capital Goods |
NA |
0.927 |
0.138 |
|
|
TOTAL IMPORTS |
NA |
445.625 |
342.099 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.69 |
8.26 |
1.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.23
|
2.98
|
0.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.32
|
0.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
5.07
|
1.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.19
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.02
|
2.71
|
3.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
2.24
|
1.92 |
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 |
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 |
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 |
OPERATIONS
Despite the recessionary trends prevailing in global and in domestic economy, the Company has achieved higher sales and other income of Rs. 1363.901 Millions for the F.Y.2010-11, reflecting a growth of 7.07 over the previous year. Export sales have grown from Rs. 383.846 Millions to Rs. 564.415 Millions i.e by 47.04 over the previous year. The net profit for the year has declined substantially to Rs. 3.178 Millions, from Rs. 37.998 Millions in the previous year.
FORM NO. 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90105486 |
|
Corporate identity
number of the company |
U24231GJ1991PTC016288 |
|
Name of the
company |
AMOLI
ORGANICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
322 /
4, 40 Shed Area, GIDC, Vapi-396195, |
|
Type of charge |
Book debts Immovable
Property Others (entire
current assets and movable fixed assets) |
|
Particular of
charge holder |
ICICI Bank Limited, Land Mark Race Cource Circle, Alkapuri, Baroda – 390 015, Gujarat, India E-mail Id : nabha.nirody@icicibank.com
|
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental DOH
has been executed on 26 April 2012 w.r.t. enhancement of working capital
facility from Rs 110.000 millions to Rs 170.000 Millions and DOH for
derivatives has been executed on 26 April 2012 w.r.t. derivative facility of
Rs 40.600 Millions for securing first
pari passu charge 1. On companies
entire stocks of raw materials, receivables, book debts and other current
assets 2 Movable Fixed
Assets of the borrower |
|
Date of instrument
Creating the charge |
26.04.2012 |
|
Amount secured by
the charge |
Rs.210.600
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction Terms of
Repayment on demand Margin As per Sanction Extent and
Operation of the charge First charge by
way of Hypothecation of companys entire stocks of raw materials, semi
finished and finished goods, consumable stores and spares and such other movables
including book debts, bills whether documentary or clean, outstanding monies,
receivables, both present and future, in a form and manner satisfactory to
the Bank, ranking pari passu with State Bank of India. First pari-passu
charge on the movable fixed assets of the borrower, with State Bank of India |
|
Short particulars
of the property charged |
companys entire
stocks of raw materials, semi finished and finished goods, consumable stores
and spares and such other movables including book debts, bills whether
documentary or clean, outstanding monies, receivables, both present and
future movable fixed assets of the borrower |
|
Date of latest
modification prior to the present modification |
14.03.2012 |
|
Particulars of
the present modification |
vide this
modification we are creating charge on companies entire current assets, book
debts and movable fixed assets to secure enhanced working capital limits of
Rs 170.000 million and derivative facility of Rs 40.600 million The earlier charge created on companies current assets and movable and immovable fixed assets will remain the same. |
FIXED ASSETS
v Factory Plot
v Starr Quarter Plot
v
v Plant and machinery
v Electrical Equipments
v Motorcar and Vehicles
v Motorcar
v Motor Lorry
v Furniture Fixture and Office equipments
v Computer
v Efferent Treatment Plant
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.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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.