MIRA
INFORM REPORT
|
Report Date : |
31.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
KRIS FLEXIPACKS PRIVATE LIMITED (w.e.f. 31.07.2007) |
|
|
|
|
Formerly Known
As : |
NIKITA PLAST INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
65, Shanti Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168369 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH2007PTC168369 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN14534C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN4672Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of High Quality Packaging Products. |
|
|
|
|
No. of Employees
: |
500 (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 2700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Latest financial
of company i.e. 2011-2012 are missing from the government department.
However, from the previous year the company seems to be performing well.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting for
more than half of India's output, with only one-third of its labor force. India
has capitalized on its large educated English-speaking population to become a
major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (Non-fund based)
A3+ |
|
Rating Explanation |
Moderate degree of safety, it carry higher
credit risk. |
|
Date |
18.10.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (Fund Based) BBB+ |
|
Rating Explanation |
Moderate degree of safety, it carry moderate
credit risk. |
|
Date |
18.10.2012 |
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 DECLINED BY
|
Name : |
Ms. Kamini |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-25907080 |
|
Date : |
30.10.2012 |
LOCATIONS
|
Registered Office : |
65, Shanti Industrial Estate, S. N. Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Tel. No.: |
91-22-67742222/ 25907080 |
|
Fax No.: |
91-22-67742222/ 67742399/ 67973894 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
They have 6 to 7 Galas in same premises |
|
Location : |
Owned |
|
|
|
|
Head Office: |
Plot No. A-39, Road No. 11, Wagle Industrial Estate, Thane (West),
Thane -400604, Maharashtra, India |
|
Tel No.: |
91-22-30948000 |
|
|
|
|
Factory : |
Located At: · · · Himachal Pradesh |
|
|
|
|
Branch Office : |
101 Alpha, Also Located At: ·
·
Tirupur ·
·
Chennai ·
Pawai ·
Mulund |
DIRECTORS
AS ON 01.09.2012
|
Name : |
Mr. Shailesh Gulabchand Sheth |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
701, |
|
Date of Birth/Age : |
12.01.1960 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAYPS5920R |
|
Din No.: |
00206159 |
|
|
|
|
Name : |
Mr. Rajesh Gulabchand Sheth |
|
Designation : |
Whole Time Director |
|
Address : |
701, |
|
Date of Birth/Age : |
23.10.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAZPS8968A |
|
Din No.: |
00223733 |
|
|
|
|
Name : |
Mr. Viresh Gulabchand Sheth |
|
Designation : |
Whole Time Director |
|
Address : |
701, |
|
Date of Birth/Age : |
28.08.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAYPS5919A |
|
Din No.: |
00217977 |
|
|
|
|
Name : |
Mr. Ravi Chaturvedi |
|
Designation : |
Director |
|
Address : |
750, |
|
Date of Birth/Age : |
14.11.1959 |
|
Date of Appointment : |
01.04.2011 |
|
Din No.: |
02787181 |
|
|
|
|
Name : |
Mr. Peranamallur Narayanaswamy Devrajan |
|
Designation : |
Director |
|
Address : |
A-1, Ground Floor, Nav Munjal Nagar, 2, Chembur, Mumbai – 400089,
Maharashtra, India |
|
Date of Birth/Age : |
15.02.1935 |
|
Date of Appointment : |
01.04.2011 |
|
Din No.: |
00003842 |
|
|
|
|
Name : |
Mr. Govindaraghavan Venkatraman |
|
Designation : |
Director |
|
Address : |
Flat No.171/172, 17th Floor, Kalpataru Residency, Sion Circle,
Sion (East), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
16.07.1945 |
|
Date of Appointment : |
01.04.2011 |
|
Din No.: |
00008683 |
KEY EXECUTIVES
|
Name : |
Ms. Kamini |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Shailesh Gulabchand Sheth |
|
2700144 |
|
Rajesh Gulabchand Sheth |
|
1349972 |
|
Viresh Gulabchand Sheth |
|
1349972 |
|
Packaging Destinations Private Limited, |
|
1599970 |
|
Packaging Flexi Business Private Limited, |
|
699988 |
|
Packaging Properties Private Limited, |
|
699988 |
|
Varsha Sheth |
|
799982 |
|
Aarti Sheth |
|
399992 |
|
Tina V Sheth |
|
399992 |
|
|
|
|
|
Total |
|
10000000 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
|
|
|
|
Category |
|
|
|
Bodies
corporate |
|
30.00 |
|
Directors
or relatives of directors |
|
70.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of High Quality Packaging Products. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
· Shrink
Sleeves · Garment
Poly Bags · Industrial Poly
Bags · Retail Bags · Plastic Hangers · Wooden Hangers · Metal Hangers · Laminates · LD Shrink · Wrap-around
Labels · Combi Pack · Shrink Tunnel · Moulded Products · Soft and Rigid
PP/PVC Boxes
|
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· The Saraswat Co-operative Bank Limited Thane Nagar
Vachalay Mandir Building, Tembhinaka, Thane – 400602, Maharashtra, India ·
The Saraswat Co-Operative Bank Limited Mulund Branch, Mulund, Mumbai – 400080, Maharashtra, India ·
IDBI Bank Limited IDBI Tower WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra,
India ·
The Saraswat Co-Operative Bank Limited SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli West, Mumbai –
400079, Maharashtra, India ·
State Bank of India Mulund, Mumbai, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K A Gandhi and Associates Chartered Accountant |
|
Address : |
14-B, Vaibhav, 1st Floor, Corner of M G and S L R Mulund
(West), Mumbai – 400 080, |
|
Tel. No.: |
91-22-25675205 / 25686061 |
|
Fax No.: |
91-22-25686061 |
|
Pan No.: |
AAJFK1030F |
CAPITAL STRUCTURE
AS ON 01.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
5000000 |
Preferences Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 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 |
100.000 |
100.000 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
575.875 |
452.602 |
333.173 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
675.875 |
552.602 |
433.173 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
809.589 |
775.011 |
767.860 |
|
|
2] Unsecured Loans |
67.189 |
80.130 |
50.625 |
|
|
TOTAL BORROWING |
876.778 |
855.141 |
818.485 |
|
|
DEFERRED TAX LIABILITIES |
24.980 |
17.623 |
13.417 |
|
|
|
|
|
|
|
|
TOTAL |
1577.633 |
1425.366 |
1265.075 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
686.741 |
670.553 |
663.526 |
|
|
Capital work-in-progress |
6.385 |
6.435 |
0.406 |
|
|
|
|
|
|
|
|
INVESTMENT |
65.440 |
69.082 |
68.581 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
309.877
|
249.068
|
209.791
|
|
|
Sundry Debtors |
567.836
|
536.667
|
468.900
|
|
|
Cash & Bank Balances |
23.819
|
14.761
|
20.653
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
102.283
|
86.576
|
74.902
|
|
Total
Current Assets |
1003.815
|
887.072
|
774.246
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000
|
194.085
|
|
|
Other Current Liabilities |
181.790
|
204.964
|
40.546
|
|
|
Provisions |
2.958
|
2.812
|
7.053
|
|
Total
Current Liabilities |
184.748
|
207.776
|
241.684 |
|
|
Net Current Assets |
819.067
|
679.296
|
532.562 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1577.633 |
1425.366 |
1265.075 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2043.182 |
1677.549 |
|
|
|
Other Income |
|
6.552 |
1.134 |
|
|
|
Accretion/ Decretion in stock |
|
6.066 |
10.202 |
|
|
|
TOTAL (A) |
2401.500 |
2055.800 |
1688.885 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material |
|
1458.873 |
1190.721 |
|
|
|
Manufacturing Expenses |
|
64.574 |
53.026 |
|
|
|
Staff Cost |
2095.900 |
83.295 |
75.150 |
|
|
|
Other Expenses |
|
89.348 |
67.219 |
|
|
|
Selling Expenses |
|
69.869 |
61.908 |
|
|
|
TOTAL (B) |
2095.900 |
1765.959 |
1448.024 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
305.600 |
289.841 |
240.861 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
73.600 |
91.654 |
105.979 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
232.000 |
198.187 |
134.882 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
56.100 |
50.990 |
46.427 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
175.900 |
147.197 |
88.455 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
41.000 |
27.768 |
8.529 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
134.900 |
119.429 |
79.926 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
300.400 |
180.944 |
101.018 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Equity Shares |
10.000 |
0.000 |
0.000 |
|
|
|
Corporate Tax on Dividend |
1.700 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
423.600 |
300.373 |
180.944 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
71.641 |
60.412 |
57.516 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
378.199 |
129.932 |
|
|
|
Capital Goods |
NA |
14.101 |
29.941 |
|
|
TOTAL IMPORTS |
NA |
392.300 |
159.873 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
13.49 |
11.94 |
7.99 |
|
|
Particulars |
|
|
31.03.2012 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
2450.000 |
Expected Sales (2012-2013): Rs.2500.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.62
|
5.81
|
5.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
7.20
|
5.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.40
|
9.45
|
6.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.27
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.57
|
1.92
|
2.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.43
|
4.27
|
3.20 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors Capital |
0.000
|
0.000
|
37.186
|
|
Sundry Creditors Others |
0.000 |
0.000 |
156.899 |
|
|
|
|
|
|
Total |
0.000
|
0.000
|
194.085
|
|
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
REVIEW OF
OPERATIONAL PERFORMANCE:
The directors
report that the global recession, which adversely affected the economies across
the globe, more particularly during the first half of the financial year
2009-10, gradually showed a reversal trend, as a result whereof, the Company
could report improved performance during the year, in terms of revenue and
profitability. The directors are confident that, barring unforeseen
circumstances, this trend will continue in the current year as well.
During the year,
the company earned total income of Rs. 2401.500 Millions as compared to Rs.
2055.700 Millions in the previous year, representing an increase of 16.82%.
After providing for depreciation and taxation, Profit after Tax during the year
was Rs. 135.000 Millions as compared to that of Rs. 119.400 Millions in the
previous year, representing an increase of 13%. The working has resulted in an
enhanced Basic Earning per share (EPS) at Rs. 13.49 as compared to Rs. 11.94 in
the previous year.
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U25209MH2007PTC168369 |
|
Name of the
company |
KRIS FLEXIPACKS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
65, Shanti Industrial Estate, S. N. Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
·
The Saraswat Co-Operative Bank Limited SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli West, Mumbai –
400079, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation of Movable Property |
|
Date of instrument
Creating the charge |
22.03.2012 |
|
Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 12.25% p.a. or at such rate as maybe determined by the bank from time
to time Terms of
Repayment On demand or by
22.03.2017 if the same is not demanded earlier Margin 20% Extent and
Operation of the charge This is term loan
facility |
|
Short particulars
of the property charged |
Hypothecation of
Machinery tangible movable property (both present and future) belonging to
the borrower and lying and being at borrower place of business at 64-65,
Shanti Industrial Estate, S. N. Road, Mulund West, Mumbai – 400080 or
wherever else the same maybe determined by the bank from time to time. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Office Equipment
·
Factory Equipment
·
Motor Car
·
Motor Cycle
·
Motor Truck-Eicher
·
Vehicles
·
Furniture and Fixtures
·
Components
·
Telephone Instrument
·
Electrical Fittings
·
Dies and Moulds
·
Air Conditioner
·
Trade Mark
·
Software – ERP
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.54.17 |
|
|
1 |
Rs.86.83 |
|
Euro |
1 |
Rs.69.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.