1. Summary Information
|
|
|
Country |
|
|
Company Name |
FAIRMATE
CHEMICALS PRIVATE LIMITED |
Principal Name 1 |
Mr. Rakeshbhai Baldevbhai Shah |
|
Status |
Moderate |
Principal Name 2 |
Mr. Bhaveshbhai Baldevbhai Shah |
|
|
|
Registration # |
04-026528 |
|
Street Address |
1514, Ranchhod
Bhavan, Montivasan Sheri, Saraspur, Ahmedabad – 380 008, |
||
|
Established Date |
27.06.1995 |
SIC Code |
-- |
|
Telephone# |
91-79-22160847 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-79-22122545 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Concrete admixtures |
|
|
# of employees |
100
(Approximately) |
Product Name 2 |
Waterproofing systems |
|
Paid up capital |
Rs. 2,000,000/- |
Product Name 3 |
Engineering grouts |
|
Shareholders |
Directors
or relatives of directors 100.00% |
Banking |
Punjab National
Bank |
|
Public Limited Corp. |
No |
Business Period |
17 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B
(26) |
|
Related
Company |
|||
|
Relation
-- |
Country
-- |
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
66,461,000 |
Current Liabilities |
80,603,000 |
|
Inventories |
26,020,000 |
Long-term Liabilities |
21,494,000 |
|
Fixed Assets |
16,086,000 |
Other Liabilities |
1,877,000 |
|
Deferred Assets |
90,000 |
Total Liabilities |
103,974,000 |
|
Invest& other Assets |
10,000 |
Retained Earnings |
2,693,000 |
|
|
|
Net Worth |
4,693,000 |
|
Total Assets |
108,667,000 |
Total Liab. & Equity |
108,667,000 |
|
Total Assets (Previous Year) |
85,367,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
202,252,000 |
Net Profit |
1,122,000 |
|
Sales (Previous yr) |
161,785,000 |
Net Profit(Prev.yr) |
780,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
FAIRMATE CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1514, Ranchhod Bhavan, Montivasan Sheri, Saraspur, Ahmedabad – 380
008, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.06.1995 |
|
|
|
|
Com. Reg. No.: |
04–026528 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910GJ1995PTC026528 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMF00074E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF1778M |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Construction Chemicals. |
|
|
|
|
No. of Employees
: |
100 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 19000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However 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 caution.
|
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/ Head Office : |
1514, Ranchhod Bhavan, Montivasan Sheri, Saraspur, Ahmedabad – 380
008, |
|
Tel. No.: |
91-79-22160847/26465577 |
|
Mobile No.: |
91-9879613009 (Mr. Himesh) |
|
Fax No.: |
91-79-22122545 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Sai Sudha, 8/1 Arunoday Society, Alkapuri, Vadodara – 390 007, |
|
Tel. No.: |
91-265-2358173-74/ 2331193 |
|
Fax No.: |
91-265-2338733 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located At:
|
|
|
|
|
Overseas Office : |
Located At:
|
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rakeshbhai Baldevbhai Shah |
|
Designation : |
Director |
|
Address : |
1474, Nani Vasan Sheri, Saraspur, Ahmedabad – 380 018, |
|
Date of Birth/Age : |
08.08.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.04.1997 |
|
Din No.: |
00500196 |
|
|
|
|
Name : |
Mr. Bhaveshbhai Baldevbhai Shah |
|
Designation : |
Director |
|
Address : |
1514, Monti Vasan Sheri, Saraspur, Ahmedabad – 380 018, |
|
Date of Birth/Age : |
13.11.1969 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.04.1999 |
|
Din No.: |
00500036 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Baldevbhai Shah |
|
10 |
|
Rakesh Shah |
|
80000 |
|
Umesh Shah |
|
27420 |
|
Baldevbhai N. Shah Rakesh B. Shah (Joint) |
|
1000 |
|
Rakesh B. Shah Jaimini R. Shah |
|
1000 |
|
Umesh B. Shah |
|
1000 |
|
Bhavesh B. Shah Swati B. Shah |
|
1000 |
|
Jaimini R. Shah Rakesh B. Shah (Joint) |
|
1000 |
|
Umesh B. Shah |
|
1000 |
|
Swati B. Shah Bhavesh B. Shah (Joint) |
|
1000 |
|
Baldevbhai N. Shah Rakesh B. Shah (Joint) Bhavesh B. Shah (Joint) |
|
1000 |
|
Ranchodbhai N. Shah Umesh B. Shah |
|
1000 |
|
Ishwarbhai J. Patel |
|
10 |
|
Abhesang P. Patel Ramesh A. Patel (Joint) Chandu A. Patel (Joint) |
|
10 |
|
Prabhuben D. Patel Laxmiben R. Patel (Joint) Gitaben V. Patel (Joint) |
|
10 |
|
Amarsang J. Patel Laxmiben R. Patel (Joint) Pramilaben A. Patel (Joint) |
|
10 |
|
Dhanjibhai B. Patel Vasant J. Patel (Joint) Royajibhai B. Patel (Joint) |
|
10 |
|
|
|
10 |
|
Shravanbhai J. Patel |
|
10 |
|
Bhavesh B. Shah |
|
80000 |
|
Ranchodbhai N. Shah |
|
3500 |
|
Total |
|
200000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Construction Chemicals. |
|
|
|
|
Products : |
· Concrete admixtures · Waterproofing systems · Engineering grouts · Industrial flooring systems · Protective coatings · Concrete repairs · Surface treatment · Pre packed concrete and mortar · Polysulphide sealants |
GENERAL INFORMATION
|
No. of Employees : |
100 [Approximately] |
|
|
|
|
Bankers : |
·
Punjab National Bank, Alkapuri, Vadodara ·
HDFC Bank ·
The
Saraspur Nagarik Co-operative Bank Limited ·
Kotak Mahindra Bank Limited, 36-38a, Nariman
Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India ·
Bank of Baroda |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Jayesh Patel and Company Chartered Accountants |
|
Address : |
B – 35, Third Floor, Ajanta Commercial Complex, |
|
Tel. No.: |
91-79-27544689 |
|
PAN No.: |
ABDPP5182C |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity shares |
Rs.10/- each |
Rs.2.000 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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.693 |
1.596 |
0.729 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.693 |
3.596 |
2.729 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.054 |
5.138 |
4.236 |
|
|
2] Unsecured Loans |
16.440 |
24.775 |
13.412 |
|
|
TOTAL BORROWING |
21.494 |
29.913 |
17.648 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26.187 |
33.509 |
20.377 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16.086 |
14.746 |
9.593 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.090 |
0.103 |
0.059 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.020
|
16.018
|
12.214
|
|
|
Sundry Debtors |
45.115
|
40.922
|
24.247
|
|
|
Cash & Bank Balances |
12.365
|
4.115
|
5.873
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
8.981
|
9.449
|
9.176
|
|
Total
Current Assets |
92.481
|
70.504
|
51.510
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
65.672 |
46.939 |
38.422 |
|
|
Other Current Liabilities |
14.931
|
3.567
|
1.554
|
|
|
Provisions |
1.877
|
1.352
|
0.827
|
|
Total
Current Liabilities |
82.480
|
51.858
|
40.803
|
|
|
Net Current Assets |
10.001
|
18.646
|
10.707
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.010 |
0.014 |
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
26.187 |
33.509 |
20.377 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
202.252 |
161.785 |
153.564 |
|
|
|
Other Income |
3.698 |
1.084 |
0.143 |
|
|
|
TOTAL (A) |
205.950 |
162.869 |
153.707 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
|
|
|
|
Other Expenditure |
|
|
|
|
|
|
TOTAL (B) |
201.293 (Including
Interest) |
158.301
(Including
Interest) |
150.460 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
3.247 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
|
|
0.654 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.657 |
4.568 |
2.593 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.023 |
3.219 |
1.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.634 |
1.349 |
0.654 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.512 |
0.569 |
0.365 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.122 |
0.780 |
0.289 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.263 |
0.750 |
1.976 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
17.006 |
15.818 |
17.056 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.61 |
3.90 |
1.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.54
|
0.48
|
0.19
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.81
|
0.83
|
0.43
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51
|
1.58
|
1.07
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.38
|
0.24
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
22.16
|
22.73
|
21.42
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.36
|
1.26
|
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 |
No |
|
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:
During the year, the company has achieved sales of Rs.202.252 Millions
as against Rs.161.785 Millions of previous year. The company earned net profit of
Rs.1.109 Millions as against Rs.0.824 Millions of the previous year. The
director hopes for better results in current year too.
FORM 8:
|
Corporate identity number of the company |
U65910GJ1995PTC026528 |
|
Name of the company |
FAIRMATE CHEMICALS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
1514, Ranchhod Bhavan, Motivasan Sheri, Saraspur, Ahmedabad – 380008, Gujarat, India E-mail Id : rakesh@fairmate.net |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10311757 |
|
Type of charge |
Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Kotak Mahindra Bank Limited, 36-38 A, Nariman Bhavan, 227,D, Nariman Point, Mumbai – 400021, Maharashtra, India E-mail Id : shrinivasan.l@kotak.com |
|
Nature of instrument creating charge |
Supplemental deed of hypothecation |
|
Date of instrument Creating the charge |
12.03.2012 |
|
Amount secured by the charge |
Rs.25.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BR plus 3.25 % i. e. 13.25 % per annum on CC and OD BR plus 2.00 % i. e. 12.00 % per annum on LCBD limits Terms of Repayment Repayable on demand subject to yearly review and existing Margin NIL Extent and Operation of the charge First and exclusive charge by way of supplemental deed of hypothecation in favour of Kotak Mahindra Bank on the assets |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
The whole of the Company's current assets, both present and future including book debts, receivables, outstanding monies, claims, bills, demands, contracts, engagements and securities, stocks, goods, consumable, goods in transit, moveable plant and machinery, equipment, appliances, furniture, vehicles, spares and stores, tools and accessories etc all are situated at 1514, Ranchhod Bhavan, Moti Vasan Sheri, Saraspur, Ahmedabad-380018 or godowns or else where in course of business |
|
Date of instrument modifying the charge |
02.02.2011 |
|
Particulars of the present modification |
The Charge is being enhanced from Rs. 20.000 Millions to 25.000 Millions by additional limit of Rs. 5.000 Millions of LCBD limits. Thus the charge stand modified to Rs. 25.000 Millions. |
FIXED ASSETS:
· Computer and Printer
· Furniture and Fixture
· Artwork and Positive
· Lab Equipment
· Machinery
· Motor car
· Telephone Instruments
· EPABX system
· A.C. Machine
· Refrigerator
· Electrical Installation
· Factory Building
· Washing Machine
· New Computer and Lap Top
· Land Purchase
· Multimedia Projector
· Eta Vibro Screen
· Fax Machine
· Pedastel Fan
·
Toshiba 1560 Copier
·
Mercedes
Benz Car
·
Motor
Cycle Vehicle
·
Eicher
Tempo
·
Trax
Cruiser
· TATA Mobile 207(White)
· Portable Blander
· Cellular Instruments
· Eicher 11.10
· Sony Music System
· TATA Indica Cars
· Television
· Projector
· Scorpio Car
· Eicher Dumper
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.53.07 |
|
|
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.