MIRA
INFORM REPORT
|
Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
PEPS INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
S F No. 192, |
|
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|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
13.09.1995 |
|
|
|
|
Com. Reg. No.: |
18-006507 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.63.801 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U17111TZ1995PTC006507 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Spring Interior Mattresses and Bedding Products. |
|
|
|
|
No. of Employees : |
300 (Approximately) |
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 280000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. The company
has been successful in wiping off the accumulated losses of the previous
year. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. 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.
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 |
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 : |
S F No. 192, Uthupalayam Road, Arasur Post Palladam Taluka, Coimbatore
-641407, Tamilnadu, India. |
|
Tel. No.: |
91-422-2680890 |
|
Fax No.: |
91-422-2360892 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
25000 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Corporate office
: |
V-ID, NGEF Ancillary (I) Estate, Mahadevpura, |
|
Tel. No. : |
91-80-28525831/ 28524599 |
|
|
|
|
Factory 2 : |
F6, Ground Floor, Udyog Nagar, Peeragarhi, Mangloi, North East Delhi,
New Delhi – 110041, Delhi, India |
|
Tel. No. : |
91-11-45572792 |
DIRECTORS
AS ON 28.09.2011
|
Name : |
Mr. Punyamurthy Manjunath |
|
Designation : |
Director |
|
Address : |
1282, 13th Cross Indira Nagar II Stage, Binnamanagar,
Bangalore-560038, |
|
Date of Birth/Age : |
05.02.1960 |
|
Date of Appointment : |
16.12.2005 |
|
DIN No.: |
00900902 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U01300TZ1989PTC002484 |
HOSUR
COIR FARMS PRIVATE LIMITED |
Director |
24/03/1993 |
24/03/1993 |
Active |
NO |
|
2 |
U31503KA1986PTC007459 |
TECHNOVA
TAPES (INDIA)PRIVATE LIMITED |
Director |
25/08/1994 |
25/08/1994 |
Active |
NO |
|
3 |
U31200KA1999PTC024700 |
ASCENT
CIRCUITS PRIVATE LIMITED |
Managing
director |
01/02/1999 |
01/02/1999 |
Active |
NO |
|
4 |
U17111TZ1995PTC006507 |
PEPS
INDUSTRIES PRIVATE LIMITED |
Director |
14/09/2006 |
16/12/2005 |
Active |
NO |
|
5 |
U31300KL2008PTC027811 |
GLOBALWAVE
TECHNOLOGIES PRIVATE LIMITED |
Director |
12/05/2008 |
12/05/2008 |
Active |
NO |
|
6 |
U17214TZ2010PTC016432 |
HOSUR
MATTRESS INDUSTRIES INDIA PRIVATE LIMITED |
Director |
13/10/2010 |
13/10/2010 |
Active |
NO |
|
7 |
U74900KA2011PTC059112 |
ACE
ENVIRO TECH PRIVATE LIMITED |
Director |
13/06/2011 |
13/06/2011 |
Active |
NO |
|
Name : |
Mr. Shankarram Gopalan |
|
Designation : |
Director |
|
Address : |
201 Trinity Gole Link |
|
Date of Birth/Age : |
04.12.1959 |
|
Date of Appointment : |
16.12.2005 |
|
DIN No.: |
00110783 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U01300TZ1989PTC002484 |
HOSUR
COIR FARMS PRIVATE LIMITED |
Director |
24/03/1993 |
24/03/1993 |
Active |
NO |
|
2 |
U31200KA1999PTC024700 |
ASCENT
CIRCUITS PRIVATE LIMITED |
Director |
01/02/1999 |
01/02/1999 |
Active |
NO |
|
3 |
U17111TZ1995PTC006507 |
PEPS
INDUSTRIES PRIVATE LIMITED |
Director |
14/09/2006 |
16/12/2005 |
Active |
NO |
|
4 |
U17214TZ2010PTC016432 |
HOSUR
MATTRESS INDUSTRIES INDIA PRIVATE LIMITED |
Director |
13/10/2010 |
13/10/2010 |
Active |
NO |
|
Name : |
Mr. Keshavan Madhavan |
|
Designation : |
Managing Director |
|
Address : |
479, 11th B Cross, Bell Layout, Vidhyaranyapuram,
Bangalore-560013, Karnataka, India |
|
Date of Birth/Age : |
12.07.1953 |
|
Date of Appointment : |
27.08.2010 |
|
DIN No.: |
01678629 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17111TZ1995PTC006507 |
PEPS
INDUSTRIES PRIVATE LIMITED |
Managing
director |
29/09/2010 |
27/08/2010 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2011
|
Names of Equity Shareholders |
No. of Shares |
|
Hosur Coir Foams Private Limited, India |
1692000 |
|
P Manjunath |
1266103 |
|
G. Ram Shankar |
844100 |
|
K Madhavan |
308000 |
|
TOTAL
|
4110203 |
|
Names of Preference Shareholders |
No. of Shares |
|
P Manjunath |
1134960 |
|
G. Ram Shankar |
1134960 |
|
TOTAL
|
2269920 |
AS ON 28.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
41.00 |
|
Directors or relatives of Directors |
59.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Spring Interior Mattresses and Bedding Products. |
|
|
|
|
Products : |
Mattresses and Bedding Products |
|
|
|
|
Brand Names : |
·
Restonic ·
Spring Koil |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Coir Mattress |
Tones |
300000 |
62055 |
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) |
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Bankers : |
· State Bank of India, ITI Ancillary Branch, Mahadevapura, Bangalore-560048, Karnataka, India |
||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
CSK Prabhu and Company Chartered Accountant |
|
Address : |
No. 7, First Floor, Auditors Association Buildings, D B Road, R S
Puram, Coimbatore641407, Tamilnadu, India. |
|
PAN No.: |
AACFC6296Q |
|
|
|
|
Related Parties : |
Hosur Coir Farm Private Limited CIN No.: - U01300TZ1989PTC002484 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
3000000 |
15% Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
TOTAL |
|
Rs. 80.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4110203 |
Equity Shares |
Rs.10/- each |
Rs. 41.102 Millions |
|
2269920 |
15% Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 22.699 Millions |
|
|
TOTAL |
|
Rs. 63.801
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 |
63.801 |
63.801 |
63.801 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.664 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.326) |
(9.089) |
(16.160) |
|
|
NETWORTH |
70.139 |
54.712 |
47.641 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
81.003 |
41.742 |
29.701 |
|
|
2] Unsecured Loans |
5.512 |
3.987 |
35.073 |
|
|
TOTAL BORROWING |
86.515 |
45.729 |
64.774 |
|
|
DEFERRED TAX LIABILITIES |
7.923 |
7.082 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
164.577 |
107.523 |
112.415 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
89.139 |
60.744 |
59.112 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.013 |
0.013 |
0.013 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
39.060
|
22.588
|
17.317
|
|
|
Sundry Debtors |
70.448
|
54.067
|
55.324
|
|
|
Cash & Bank Balances |
14.696
|
5.368
|
2.760
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
26.032
|
21.341
|
4.892
|
|
Total
Current Assets |
150.236
|
103.364 |
80.293 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
32.673
|
18.334 |
25.547 |
|
|
Other Current Liabilities |
34.267
|
35.072
|
0.000
|
|
|
Provisions |
7.871
|
6.303
|
1.456
|
|
Total
Current Liabilities |
74.811
|
59.709 |
27.003 |
|
|
Net Current Assets |
75.425
|
43.655
|
53.290
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
OTHER ASSETS |
0.000 |
3.111 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
164.577 |
107.523 |
112.415 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
408.051 |
240.555 |
164.040 |
|
|
|
Other Income |
NA |
8.876 |
4.210 |
|
|
|
TOTAL (A) |
NA |
249.431 |
168.250 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
164.792 |
106.817 |
|
|
|
Power and Fuel |
|
1.816 |
1.355 |
|
|
|
Exchange Fluctuation |
|
0.000 |
0.540 |
|
|
|
Employee Cost |
|
15.123 |
9.543 |
|
|
|
Administrative and Selling Expenses |
|
43.651 |
27.431 |
|
|
|
Adjustment due to increase/ decrease in stock |
|
(1.216) |
(1.426) |
|
|
|
TOTAL (B) |
NA |
224.166 |
144.260 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
25.265 |
23.990 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
3.288 |
4.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
21.978 |
19.753 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.022 |
2.977 |
2.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
23.497 |
18.999 |
16.960 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
11.928 |
0.814 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
7.071 |
16.146 |
|
|
|
|
|
|
|
|
|
Less |
Prior Year Adjustments |
NA |
0.000 |
0.258 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(16.159) |
(32.047) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(9.088) |
(16.159) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.83 |
1.72 |
3.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
2.83
|
9.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.76
|
7.90
|
10.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.82
|
11.58
|
12.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.35
|
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.41
|
2.06
|
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
1.73
|
2.97 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
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 |
No |
FINANCIAL RESULTS
The Directors
state that the Company achieved a turnover of Rs.408.051 Millions as against Rs.247.258
Millions in the previous year and achieved a Net Profit of Rs.23.497 Millions
as against Net Profit of Rs.18.999 Millions in the previous year (after
charging Depreciation of Rs.4.022 Millions as against Rs.2.978 Millions in the
previous year). The Directors are making sincere efforts to improve the
performance of the Company. In respect of the Qualification made by Auditors
the Directors wish to state that the Provision made in the Books will be
adequate to cover the Gratuity Liability. However sincere efforts have already
been taken to implement AS-15 in respect of Provision for Gratuity including
the disclosure, coverage and other norms set forth in the Accounting Standard
in the current year.
FORM 8
|
Corporate identity
number of the company |
U17111TZ1995PTC006507 |
|
Name of the
company |
PEPS INDUSTRIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S F No. 192, Uthupalayam Road, Arasur Post Palladam Taluka, Coimbatore
-641407, Tamilnadu, India. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10114163 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
State Bank of ITI Ancillary Branch, Mahadevapura, Bangalore-560048, Karnataka,
India. |
|
Nature of
instrument creating charge |
Supplemental Agreement
of Loan-Cum-Hypothecation Sme-4 And Memorandum For Recording Extension of
Mortgage By Deposit of Title Deeds Sme-7 (Both Pertain To The Same Charge). |
|
Date of
instrument Creating the charge |
19.04.2011 |
|
Amount secured by
the charge |
Rs. 147.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 1) WCL - AT 1.00%
above base rate, present effective rate 12.75% p.a. with monthly rests. 2) TLs - as per
existing terms of sanction. Terms of repayment WCL - on demand.
Advance is for a period of 12 months. TLs - As Per
Existing Terms Of Sanction. Margin RM/SIP/FG/RECEIVABLE/EPC
: 25% LC : 10% TLs - As Per
Existing Terms Of Sanction. Extent and operation of the charge Exclusive first
charge on the assets of the company and to the full extent. Other CC (Stocks) Rs
17.500 Millions; CC (receivable) Rs 52.500 Millions; SLC Rs 10.000 Millions;
corporate loan Rs 8.000 Millions; term loan Rs 24.000 Millions; LC Rs 35.000
Millions; total Rs 147.000 Millions. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
company's present and future movable fixed assets and current assets like
stocks, raw materials, semi finished and finished goods, book debts,
receivables, outstanding monies, bills, rights, stores, components, furniture
and fittings; other movables, plant and machinery, vehicles and assets to be
purchased out of bank finance. EM of factory
land and building situated at 7/83, SF. No.191/3A1, 3A2, 3B1, 3B2, Sy.
No.191/3 and 192, Uthupalayam Road, Arasur post, Coimbatore. Land measuring
10.7 acres with factory building constructed thereon. |
|
Date of
instrument modifying the charge |
30.03.2010 |
|
Particulars of the
present modification |
The amount
secured by the charge stands increased to Rs. 147.000 Millions. The
securities described and detailed in col no 15 herein above continue for the
enhanced limit. All other terms and conditions remain unchanged. |
FIXED ASSETS
·
Land
·
Borewell
·
Factory Building
·
Plant and Machinery
·
Tools
·
Electrical Machinery
·
Computer
·
Office Equipments
·
Generator
·
Vehicles
·
Furniture and Fittings
·
Temporary Structures
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. 51.61 |
|
|
1 |
Rs. 83.57 |
|
Euro |
1 |
Rs. 67.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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.