MIRA INFORM REPORT

 

 

Report Date :

06.10.2012

 

IDENTIFICATION DETAILS

 

Name :

SUBONEYO CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED (w.e.f. 16.02.2012)

 

 

Formerly Known As :

SUBONIYO CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED

 

 

Registered Office :

A-86/89, M.I.D.C. Industrial Estate, Ajanta Road, Chauphuli, Jalgaon – 425 003, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

12.05.1978

 

 

Com. Reg. No.:

11-020340

 

 

Capital Investment / Paid-up Capital :

Rs.0.500 Million

 

 

CIN No.:

[Company Identification No.]

U24110MH1978PTC020340

 

 

IEC No.:

0305041045

 

 

TIN No.:

27370006389

 

 

PAN No.:

[Permanent Account No.]

AADCS2682N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Protein Hyrolysate, Amiono Acid, Chelated Minerals, Human and Animal Agricultural Bio-Nutritional Products.

 

 

No. of Employees :

105 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 206000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and a reputed company having good track. There appears sharp dip in the profitability of the company. However, 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 business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

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 (GENERAL DETAILS)

 

Name :

Mr. Suyogkumar Sudhakar  Chaudhari

Designation :

Director

Contact No.:

91-9371999999

Date :

05.10.2012

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

A-86/89, M.I.D.C. Industrial Estate, Ajanta Road, Chauphuli, Jalgaon – 425 003, Maharashtra, India

Tel. No.:

91-257-2211754/ 2211756

Mobile No.:

91-9371999999 (Mr. Suyogkumar Chaudhari)

Fax No.:

91-257-2210748/ 2212264

E-Mail :

cheminfo@dataone.in

chieminfo@dataone.in

cheminfo_jal@sancharnet.in

ravindrakulkarni786@gmail.com

suboneyo@gmail.com

Website :

http://www.suboneyo.com

Area :

1 ½ Acres

Location :

Owned

 

 

Factory 2 :

Plot No.2, NH No.190, Nasirabad, Jalgaon, Maharashtra, India 

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mrs. Sunanda Sudhakar Chaudhari

Designation :

Director

Address :

A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425 003, Maharashtra, India

Date of Birth/Age :

31.12.1948

Qualification :

Chemicals Engineer

Date of Appointment :

12.05.1978

DIN No.:

01429014

 

 

Name :

Mr. Suyogkumar Sudhakar  Chaudhari

Designation :

Director

Address :

A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425 003, Maharashtra, India

Date of Birth/Age :

06.03.1977

Qualification :

MBA

Date of Appointment :

15.06.2001

Voter ID No.:

WKK3135498

DIN No.:

00422368

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

Date of cessation

Company/ LLP Status

Defaulting status

1

U24110MH1978PTC020340

SUBONEYO CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED

Director

15/06/2001

15/06/2001

-

Active

NO

2

U01403MH2007PTC174785

SAMRUDDHI GROWAY SCIENCES PRIVATE LIMITED

Director

05/10/2007

05/10/2007

-

Active

NO

 

 

Name :

Mr. Sunilkumar Sudhakar Chaudhari

Designation :

Director

Address :

A-86-89, MIDC, Ajantha Chauphuli, Jalgaon – 425 003, Maharashtra, India

Date of Birth/Age :

27.07.1972

Qualification :

BSC

Date of Appointment :

01.10.2003

DIN No.:

00413976

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

Date of cessation

Company/ LLP Status

Defaulting status

1

U51497MH1997PTC107961

SAMRUDDHI FARMCHEM MARKETING PRIVATE LIMITED

Director

12/05/1997

12/05/1997

-

Active

NO

2

U24110MH1978PTC020340

SUBONEYO CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED

Director

01/10/2003

01/10/2003

-

Active

NO

3

U01403MH2007PTC174785

SAMRUDDHI GROWAY SCIENCES PRIVATE LIMITED

Director

05/10/2007

05/10/2007

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders

 

 

No. of Shares

Sunanda S. Chaudhari

 

2345

Suyogkumar S. Chaudhari

 

905

Sunilkumar S. Chaudhari

 

905

Subodhkumar S. Chaudhari

 

845

Total

 

5000

 

As on 30.09.2011

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Protein Hyrolysate, Amiono Acid, Chelated Minerals, Human and Animal Agricultural Bio-Nutritional Products.

 

 

Products :

v  Food Ingredients and Neutraceuticals

v  Bacteriological Media Ingredients Fermentation Nutrients

v  Animal Poultry Nutrition - Veterinary and Poultry Supplement

v  Plant Agricultural Nutrition

v  Human Nutrition - Iron Supplements and Organic Minerals

v  Cosmeceuticals Cosmetic Ingredients

v  Importance of Trace Elements

v  Construction Chemical

 

 

Products :

v  Protein Hyrolysate

v  Food Ingredients

Countries :

v  USA

v  Germany

 

 

Imports :

 

Products :

Raw Materials

Countries :

Europe

 

 

Terms :

 

Selling :

Cash and Credit (30 days)

 

 

Purchasing :

Cash and Credit (30 days) 

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Licensed Capacity

Installed Capacity

Actual Production

(A) Liquid Bio Ext. Org. Fertilizer Manures (KL) 

N.A.

N.A.

361.35

Solid Bio Ext. Org. Mann. (MT)

N.A.

N.A.

141.8

Hydrolyzed/ Dig Protein org. N Fert. (MT)

N.A.

N.A.

464.14

Hydrolyzed/ Dig Protein org. N Fert. Dry (MT)

N.A.

N.A.

34.731

Org. Trace Min with org Nitrogen (MT)

N.A.

N.A.

73.770

Bio Ext. sw org. Mann dry (MT)

N.A.

N.A.

1.100

Agro Seed Coating Poly. (MT)

N.A.

N.A.

4.075

Spray adurant for Agri (KL)

N.A.

N.A.

14.400

(B) Vet, Poultry Supplement Org. Trace Minn. (MT) 

N.A.

N.A.

109.370

Vet, Poultry Supplement Dig. Protein Liq. (MT)

N.A.

N.A.

37.420

Vet, Poultry Supplement Dig. Protein Powder (MT)

N.A.

N.A.

7.645

(C) Nutrition-Protein Hydrolyzed Powder (MT)

N.A.

N.A.

2.000

Nutrition-org. Trade Minn. (Kg)

N.A.

N.A.

0.05

Nutt. Fermenta-Hydro. Prot. (MT)

N.A.

N.A.

0.350

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers, Retailers and Manufacturer

 

 

No. of Employees :

105 (Approximately)

 

 

Bankers :

v  State Bank of India, Market Yard Branch

v  Jalgaon Janata Sahakari Bank Limited, “Seva”, 117/119, Navi Peth, Jalgaon – 425 001, Maharashtra, India

v  HDFC Bank Limited

v  Bank of Baroda

v  Axis Bank Limited

 

 

Facilities :

Secured Loan

31.03.2011

(Rs. in Millions)

31.03.2010

(Rs. in Millions)

Cash Credit with Jalgaon Sahakari Bank

(Secured against Stock, Debtors and Directors’ personal guarantees)

8.697

9.877

Term Loan for Factory Building [177/270] JJSB

(Against mortgage of Factory Building)

0.540

0.573

Term Loan for Machinery [172/274] JJSB

(Against Hypothecation of Machinery)

5.603

8.492

Term Loan for Windmill [172/279] JJSB

(Against Hypothecation of Windmill )

4.493

5.306

HDFC Car Loan

(Against Hypothecation of Car)

0.000

0.205

HDFC Bank Limited

(A/c No.01802320006493)

0.573

0.000

Jalgaon Janata Sahakari Bank Limited (Current A/c: 478)

0.029

0.000

Term Loan for Windmill [172/287] JJSB

(Against Hypothecation of Windmill)

28.230

25.482

Total

48.165

49.935

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Gosavi Yardi and Company

Chartered Accountants

Address :

243/244, Adhar Building, Narayan Peth, Pune – 411 030, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

ABMPG3739M

 

 

Associates/Subsidiaries :

Samruddhi Chemicals Private Limited, Jalgaon

Line of Business: Manufacturer, Exporter and Importer of Household Goods.

 

Sampatti Industries, Jalgaon

Line of Business: Manufacturer of Household Goods.

 

 

CAPITAL STRUCTURE

 

After 30.09.2011

 

Authorised Capital : Rs.5.100 Millions

 

Issued, Subscribed & Paid-up Capital : Rs.0.500 Million

 

As on 30.09.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

5000

Equity Shares

Rs.100/- each

Rs.0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

5000

Equity Shares

Rs.100/- each

Rs.0.500 Million

 

 

 

 

 

 

 

 

 

 

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

0.500

0.500

 0.489

2] Share Application Money

0.000

0.000

 0.000

3] Reserves & Surplus

51.089

44.018

 26.909

4] (Accumulated Losses)

0.000

0.000

 0.000

NETWORTH

51.589

44.518

27.398

LOAN FUNDS

 

 

 

1] Secured Loans

48.165

49.935

 26.158

2] Unsecured Loans

0.000

0.000

 0.000

TOTAL BORROWING

48.165

49.935

26.158

DEFERRED TAX LIABILITIES

11.489

9.205

 3.691

 

 

 

 

TOTAL

111.243

103.658

 57.247

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

99.335

106.202

 52.512

Capital work-in-progress

0.000

0.000

 0.000

 

 

 

 

INVESTMENT

0.500

0.500

 0.500

DEFERRED TAX ASSETS

0.000

0.000

 0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
10.397
3.315
 2.154

 

Sundry Debtors
18.974
14.961
11.781

 

Cash & Bank Balances
1.139
0.109
 4.582

 

Other Current Assets
0.000
0.000
 0.000

 

Deposits, Loans & Advances
8.395
9.685
 5.728

Total Current Assets
38.905

28.070

24.245

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
16.903
15.145

9.937

 

Other Current Liabilities
2.236
2.161

0.429

 

Provisions
8.358
13.808

9.644

Total Current Liabilities
27.497

31.114

20.010

Net Current Assets
11.408
(3.044)
 4.235

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

 0.000

 

 

 

 

TOTAL

111.243

103.658

 57.247

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

110.422

97.380

 81.471

 

 

Other Income

1.598

0.462

 1.034

 

 

TOTAL                                     (A)

110.422

97.842

82.505

 

 

 

 

 

Less

EXPENSES

 

 

 

Material Consumed

100.440

73.120

 38.950

 

 

Office and Administration Expenses

 

 

11.319

 

 

Selling and Distribution Expenses

 

 

7.396

 

 

TOTAL                                     (B)

100.440

(including financial and depreciation)

73.120

(including financial and depreciation)

57.665

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

 

 

24.840

 

 

 

 

 

Less

INTEREST & FINANCIAL EXPENSES               (D)

 

 

2.647

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

 

 

22.193

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

 

5.843

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

9.982

24.722

16.350

 

 

 

 

 

Less

TAX                                                                  (H)

3.054

7.533

1.347

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

6.928

17.189

15.003

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

NA

8.908

6.305

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

NA

NA

6.000

 

BALANCE CARRIED TO THE B/S

NA

NA

8.908

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

38.752

45.311

38.922

 

 

 

 

 

 

Earnings Per Share (Rs.)

1386.00

3438.00

3343.50

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
6.27
17.57
 18.18

 

 
 
 
 

Net Profit Margin

(PBT/Sales)

(%)
9.04
25.39
 20.07

 

 
 
 
 

Return on Total Assets

(PBT/Total Assets}

(%)
7.22
18.41
 21.30

 

 
 
 
 

Return on Investment (ROI)

(PBT/Networth)

 
0.19
0.56
 0.60

 

 
 
 
 

Debt Equity Ratio

(Total Liability/Networth)

 
1.47
1.82
 1.69

 

 
 
 
 

Current Ratio

(Current Asset/Current Liability)

 
1.41
0.90
 1.21

 

 

LOCAL AGENCY FURTHER INFORMATION

 

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

No

15) Capital in the business

Yes

16) Details of sister concerns

Yes

17) Major suppliers

No

18) Major customers

No

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

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

Yes

34) External Agency Rating, if available

No

 

 


OPERATIONS:

 

During the year 2010-2011, the turnover has been increased by 13% to Rs.110.400 millions where as the Net Profit before tax has been reduced by 60% to Rs.9.900 millions mainly on account of Increase in Depreciation and overheads.

 

The Board foresees better prospects in the business in the forthcoming year.

 

Bankers Charges Report as per Registry

 

Corporate identity number of the company

U24110MH1978PTC020340

Name of the company

SUBONEYO CHEMICALS AND PHARMACEUTICALS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

A86/89, MIDC Industrial Estate, Ajanta Road, Jalgaon – 425 003, Maharashtra, India

E-Mail: ravindrakulkarni786@gmail.com

This form is for

Modification of Charge

Charge identification (ID) number of the charge to be modified

10347069

Type of charge

Immovable Property

Book Debts

Movable property (not being pledge)

Particular of charge holder

Jalgaon Janata Sahakari Bank Limited, ‘Seva’, 117/119, Navi Peth, Jalgaon – 425 001, Maharashtra, India

E-Mail : csrsk786@gmail.com

Nature of instrument creating charge

Indenture of Joint Mortgage Deed dated 12.06.2012 with Jalgaon Janata Sahakari Bank Limited Navi Peth, Jalgaon and with the Janseva Sahakari Bank Limited Hadapsar, Pune.

 

Jalgaon Janata Sahakari Bank Limited - Rs. 5.000 millions

The Janseva Sahakari Bank Limited - Rs.32.100 millions

 

Total amount of - Rs.37.100 millions

Date of instrument Creating the charge

12.06.2012

Amount secured by the charge

Rs.37.100 millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest:

1. Jalgaon Janata Bank-14.50% p.a.

2. Janseva Bank - 14.50%

 

Terms of Repayment:

84 Months Commencing from 12 months after the date of First disbursement for both the Banks. Jalgaon Janata Bank and Janseva Bank.

 

Margin:

30.00% for both the banks.

 

Extent and operation of the charge:

The  first charge is by way of mortgage of properties on factory Land and Buildings at MIDC Jalgon and shall the  continues till full repayment of Loan.

 

Others:

Plot No.2, 4, 5, 6 at Gat No.1182 owned by Mr. Suyog Kumar Chaudhari and others.

Short particulars of the property or asset(s) charged (including complete address and location of the property)

Gat No.1182 Plot No.1 Area 6536.79 Sq. mtr. situated at Nashirabad Factory Land and Building at MIDC Jalgaon Plot No.A-86 to 89

 

Other property at Gat No.1182 Plot No.2, 4, 5, 6 Owner Shri. Suyogkumar Chaudhari and Others

Particulars of the present modification

The charge has been modified by mortgage deed dated 12.06.2012 with property.

 

FIXED ASSETS:

 

v  Land

v  Factory Building

v  Factory Building (New)

v  Plant and Machinery

v  Office Equipments

v  Electrical Installation

v  Vehicle

v  Air Conditioner

v  Tractor

v  Computer and Software

v  Motor Car

v  Furniture

v  Trade Mark

v  Wind Mill

v  New Office Work (Furniture)

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.51.62

UK Pound

1

Rs.83.57

Euro

1

Rs.67.17

 

 

INFORMATION DETAILS

 

Information Gathered by :

SLP

 

 

Report Prepared by :

SMN

 

 

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

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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

49

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.