MIRA INFORM REPORT
|
Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
N K PROTEINS LIMITED (w.e.f 27.03.1992) |
|
|
|
|
Formerly Known
As : |
MARUTI PROTEINS LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Popular House, Ashram Road, Ahmedabad - 380009,
Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.03.1992 |
|
|
|
|
Com. Reg. No.: |
04-017403 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 64.695 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25499GJ1992PLC017403 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN9377N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is mainly engaged in refining of all types of edible oils i.e.
Cottonseed, Corn, Soyabean, Groundnut, Maize, Palm, Palmolien and Sunflower. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. It has
registered healthy growth in its sales turnover and profits during 2011. The profitability of the company is vulnerable to the raw material
price fluctuations. However, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct. 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Limits : BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
September 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Limits : A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
September 2011 |
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
|
Name : |
Mr. Manish Purushottamdas Kella |
|
Designation : |
General Finance Manager |
|
Contact No.: |
91-79-66309999 |
|
Date : |
17.10.2012 |
LOCATIONS
|
Registered / Corporate Office : |
7th Floor, Popular House, Ashram Road, Ahmedabad - 380009,
Gujarat, India |
|
Tel. No.: |
91-79-66309999 |
|
Fax No.: |
91-79-66309913/ 66309907 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Factory : |
Plot No. 880, |
|
Tel. No.: |
91-2764-274247 to 249 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Nimishbhai Keshavlal Patel |
|
Designation : |
Chairman and Managing Director |
|
Address : |
41, Ashwamegh Bunglow, Scheme No. 3, Satellite, Ahmedabad-3800015, |
|
Date of Birth/Age : |
19.11.1960 |
|
Qualification : |
Graduation |
|
Experience : |
19 Years |
|
Date of Appointment : |
11.01.1996 |
|
DIN No.: |
00240621 |
|
|
|
|
Name : |
Mr. Nilesh Keshavlal Patel |
|
Designation : |
Managing Director |
|
Address : |
13/B, Dariapur Patel Society, Usmanpura, Ahmedabad-380013, |
|
Date of Birth/Age : |
23.03.1965 |
|
Qualification : |
Graduation |
|
Experience : |
19 Years |
|
Date of Appointment : |
15.05.1995 |
|
DIN No.: |
00244115 |
|
|
|
|
Name : |
Mr. Kamlesh Lalbhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
6, Devansh Bunglows, Thaltej, Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age : |
01.05.1960 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
01.03.1994 |
|
DIN No.: |
00244798 |
|
|
|
|
Name : |
Mr. Jayesh Pannalal Choksi |
|
Designation : |
Director |
|
Address : |
Siddhi Priyv JV and D Scheme,
Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
29.03.1954 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
16.06.2001 |
|
DIN No.: |
00001729 |
KEY EXECUTIVES
|
Name : |
Mr. Manish Purushottamdas Kella |
|
Designation : |
Secretary / General Manager Finance |
|
Address : |
6, Aditya Apartment, 20 Jaihind Society, Ranbaug, Maninagar, Ahmedabad
– 380008, |
|
Date of Birth/Age : |
17.09.1971 |
|
Date of Appointment : |
01.03.2010 |
|
PAN No.: |
ADPPK8989E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sonalben N Patel Jointly with Ashitaben N Patel |
|
3503085 |
|
Ashitaben N Patel |
|
238655 |
|
Sonalben N Patel |
|
230365 |
|
Priyanshi N. Patel |
|
138250 |
|
Venushri N. Patel |
|
137770 |
|
Vedanshri N. Patel |
|
136720 |
|
Priyam N. Patel |
|
136010 |
|
K. V. Patel HUF |
|
16500 |
|
Nimishbhai K. Patel |
|
134550 |
|
Nileshbhai K. Patel |
|
134550 |
|
Jayesh P. Choksi |
|
1167375 |
|
Pranav J. Choksi |
|
150000 |
|
Gomtiben K. Patel |
|
13000 |
|
Kamlesh L. Patel |
|
10100 |
|
Gomtiben K. Patel |
|
5000 |
|
Gomtiben K. Patel |
|
5000 |
|
Anant B. Patel |
|
3500 |
|
Rekhaben A. Patel |
|
3500 |
|
Lalbhai S. Patel |
|
2400 |
|
Truptiben K. Patel |
|
1750 |
|
Jashmatiben K. Patel |
|
900 |
|
Vaishnavi D. Patel |
|
220 |
|
Rajvi M. Todi |
|
100 |
|
Darshanbhai B. Patel |
|
100 |
|
Baldevbhai R. Patel |
|
100 |
|
Zircon Finance and Leasing Private Limited, India |
|
150000 |
|
Gufic Limited, India |
|
150000 |
|
Bennett Coleman Company Limited, India |
|
2 |
|
Total |
|
6469502 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
4.64 |
|
Directors
or relatives of directors |
|
74.29 |
|
Other
top fifty shareholders |
|
21.07 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is mainly engaged in refining of all types of edible oils i.e.
Cottonseed, Corn, Soyabean, Groundnut, Maize, Palm, Palmolien and Sunflower. |
|
|
|
|
Exports : |
|
|
Products : |
Castor Oil |
|
Countries : |
Ø China Ø Korea |
|
|
|
|
Imports : |
|
|
Products : |
Ø Food group of
Sunflower Oil Ø Group of
Soyabean Oil |
|
Countries : |
Ø Indonesia Ø Brazil Ø Ukraine |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Ø Inter Continental Oils and Fats Private Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers, End Users and OEM’s Ø Illini Oil |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Ø Central Bank of
India, Mid Corporate Branch |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Working Casitel – Rs. 650.000 Millions (Rs. in Millions)
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Edelweiss Housing Finance Limited, Edelweiss House, Off. C.S.T Road,
Kalina, Mumbai – 400098, Maharashtra, India |
|
|
|
|
Auditor 1 : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
2nd Floor, Shivalik Ishaan, Near CN Vidhyalaya, Ambawadi,
Ahmadabad - 380015, Gujarat, India |
|
PAN.: |
AABFS3421N |
|
|
|
|
Auditor 2 : |
|
|
Name : |
S V Ghatalia and Associates Chartered Accountants |
|
Address : |
2nd Floor, Shivalik Ishaan, Near CN Vidhyalaya, Ambawadi,
Ahemedabad-380015, Gujarat, India |
|
Pan No. : |
AACFS6921Q |
|
|
|
|
Enterprises
Commonly controlled or influenced by Major Shareholders/ Directors/Key
Management personnel of the company and their relatives: |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6469502 |
Equity Shares |
Rs.10/- each |
Rs.64.695
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 |
64.695 |
64.695 |
64.695 |
|
|
2] Share Application Money |
20.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
702.809 |
527.546 |
425.596 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
787.504 |
592.241 |
490.291 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
62.424 |
118.199 |
29.897 |
|
|
2] Unsecured Loans |
35.805 |
136.457 |
123.743 |
|
|
TOTAL BORROWING |
98.229 |
254.656 |
153.640 |
|
|
DEFERRED TAX LIABILITIES |
6.737 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
892.470 |
846.897 |
643.931 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
593.279 |
289.281 |
196.224 |
|
|
Capital work-in-progress |
22.283 |
19.345 |
65.238 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.523 |
4.119 |
1.843 |
|
|
DEFERREX TAX ASSETS |
0.000 |
3.036 |
6.229 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1219.480
|
1148.246
|
402.679
|
|
|
Sundry Debtors |
783.361
|
321.437
|
481.648
|
|
|
Cash & Bank Balances |
623.733
|
359.423
|
71.792
|
|
|
Other Current Assets |
302.382
|
155.806
|
57.374
|
|
|
Loans & Advances |
546.544
|
388.813
|
177.108
|
|
Total
Current Assets |
3475.500
|
2373.725 |
1190.601 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2978.897
|
1600.316 |
623.068 |
|
|
Other Current Liabilities |
98.663
|
131.604
|
36.674
|
|
|
Provisions |
129.555
|
110.689
|
156.462
|
|
Total
Current Liabilities |
3207.115
|
1842.609 |
816.204 |
|
|
Net Current Assets |
268.385
|
531.116
|
374.397
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
892.470 |
846.897 |
643.931 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28232.047 |
14510.219 |
14091.968 |
|
|
|
Other Income |
754.949 |
370.127 |
147.747 |
|
|
|
TOTAL (A) |
28986.996 |
14880.346 |
14239.715 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Material Changes Inventories |
27542.261 |
13970.376 |
|
|
|
|
Manufacturing Services Costs |
274.416 |
171.597 |
|
|
|
|
Employee Related Expenses |
69.158 |
45.515 |
|
|
|
|
Administrative Selling Other Expenses |
694.184 |
400.608 |
|
|
|
|
TOTAL (B) |
28580.019 |
14588.096 |
14027.819 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
406.977 |
292.250 |
211.896 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
83.323 |
84.047 |
46.485 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
323.654 |
208.203 |
165.411 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
42.251 |
40.724 |
30.493 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
281.403 |
167.479 |
134.918 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
106.141 |
65.529 |
62.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
175.262 |
101.950 |
72.390 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
364.910 |
262.960 |
190.570 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
540.172 |
364.910 |
262.960 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
3926.978 |
82.381 |
|
|
TOTAL EARNINGS |
NA |
3926.978 |
82.381 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
810.047 |
3.617 |
|
|
TOTAL IMPORTS |
NA |
810.047 |
3.617 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.09 |
15.76 |
11.19 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
25180.000 |
|
|
|
|
(Due to Market
Fluctuations) |
Expected Sales ( 2012-2013 ) : Rs. 30000.000 Millions
The above information has been parted by Mr. Manish (General Finance
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.60
|
0.69 |
0.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.00
|
1.15 |
0.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.92
|
6.29 |
9.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.28 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.20
|
3.54 |
1.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.29 |
1.46 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry
Creditors |
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
2978.897
|
1600.316 |
623.068 |
|
Total |
2978.897
|
1600.316 |
623.068 |
|
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NATURE OF OPERATIONS
Subject is mainly
engaged in refining of all types of edible oils i.e. Cottonseed, Corn,
Soyabean, Groundnut, Maize, Palm, Palmolien and Sunflower. Company has also
undertaken Soya Seed crushing for deriving edible oil products. Company also
deals in non-edible oil products like Castorseed and other products derived
from crushing of Castorseed.
OPERATIONS
During the year,
turnover is increased to Rs.28232.000 Millions compared to Rs.14510.200
Millions during 2010-11 showing an increase of 94.57 % over the previous year.
Although there were volatile price fluctuation and lot of competition both in
edible and non-edible business, the Company could increase its profit after
providing depreciation and income tax to Rs.175.300 Millions from Rs.102.000
Millions showing an increase of 71.86 % Once the need-based working funds are
available from the banking channel, the Company can achieve a substantial
growth in turnover and profit.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25499GJ1992PLC017403 |
|
Name of the
company |
N K PROTEINS LIMITED |
|
Address of the
registered office or of the principal place of business in |
7th Floor, Popular House, Ashram Road, Ahmedabad-380009,
Gujarat, India Email: nkil@nkproteins.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Edelweiss Housing Finance Limited, Edelweiss House, off. C.S.T Road, Kalina,
Mumbai – 400098, Maharashtra, India Email: cs@edelcap.com CIN No.: U65922MH2008PLC182906 |
|
Nature of
instrument creating charge |
Home Loan Agreement dated 27.01.2012. |
|
Date of instrument
Creating the charge |
27.01.2012 |
|
Amount secured by
the charge |
Rs. 31.100 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
Variable rate of interest 11% p.a. (Home Loan reference rate 15.5%,
Margin 4.5%) Terms of
Repayment 168 equated monthly installment Rs.0.363 Millions each. Margin 4.5% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1203, Tower 'B', Bhagtani Krishaang (M/S. Jaycee Homes Limited.)
Powai, Mumbai- 400078. |
TRADE REFERENCES:
Ø Illini Oil
Ø Inter Continental Oils and Fats Private Limited
FIXED ASSETS:
Ø
Freehold Land
Ø
Factory Building
Ø
Office Building
Ø
Plant and Machinery
Ø
Windmill
Ø
Electric Installations
Ø
Furniture and Fixtures
Ø
Office Equipments
Ø
Computers
Ø
Factory Equipments
Ø
Vehicles
Ø
Telephone Installations
Ø
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 52.75 |
|
|
1 |
Rs. 85.08 |
|
Euro |
1 |
Rs. 69.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLP |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.