MIRA
INFORM REPORT
|
Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRESCIENT COLOR LIMITED |
|
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Registered
Office : |
162, |
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|
Country : |
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Financials (as
on) : |
31.03.2011 |
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|
|
Date of
Incorporation : |
23.06.2006 |
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Com. Reg. No.: |
11-128651 |
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Capital
Investment / Paid-up Capital : |
u24229PN2006PLC128651 |
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|
|
|
CIN No.: [Company Identification
No.] |
Rs.100.000 millions |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP10646G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP9591P |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer of plastic colour, single pigment concentrates, single colourant, master batches/ property master
batches. |
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|
|
|
No. of Employees
: |
110 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 213000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Sudarshan Chemical Industries Limited. It
is an established company having moderate track. It has recorded an increase in its sales turnover during 2011.
Accumulated losses recorded by the company appears to be reducing. Trade relations are reported as fair. Business is active. Payments are
reported to be slow. 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.
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
|
Name : |
Mr. Sachin |
|
Designation : |
Office Executive |
|
Contact No.: |
91-20-66521506 |
|
Date : |
04.09.2012 |
LOCATIONS
|
Registered Office : |
162, |
|
Tel. No.: |
91-20-26058888 / 66521506 / 9 |
|
Fax No.: |
91-20-26058222 / 66521500 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Main Office and Factory : |
Gat No.1162 / Old Gat No.329, |
|
Tel. No.: |
91-20-66521509/
66521529/ 22908000 |
|
Fax No.: |
91-20-66521500/
22908111 |
|
Area : |
3 Acres |
|
Location : |
Owned |
DIRECTORS
As on 24.05.2012
|
Name : |
Mr. Kishor Laxminarayan Rathi |
|
Designation : |
Director |
|
Address : |
C-4, Abhimanshree Society , |
|
Date of Birth/Age : |
27.10.1938 |
|
Date of Appointment : |
23.06.2006 |
|
DIN No.: |
00018567 |
|
|
|
|
Name : |
Mr. Pradeep Ramwilas Rathi |
|
Designation : |
Director |
|
Address : |
2, |
|
Date of Birth/Age : |
20.05.1953 |
|
Date of Appointment : |
23.06.2006 |
|
DIN No.: |
00018577 |
|
|
|
|
Name : |
Mr. Narayandas Jagannath Rathi |
|
Designation : |
Director |
|
Address : |
113/3, |
|
Date of Birth/Age : |
18.05.1935 |
|
Date of Appointment : |
23.06.2006 |
|
DIN No.: |
00018597 |
|
|
|
|
Name : |
Mr. Rajesh Balkrishna Rathi |
|
Designation : |
Director |
|
Address : |
94/13/34, Lane No.11, |
|
Date of Birth/Age : |
13.11.1968 |
|
Date of Appointment : |
23.06.2006 |
|
DIN No.: |
00018628 |
|
|
|
|
Name : |
Mr. Rohit Kishor Rathi |
|
Designation : |
Managing Director |
|
Address : |
C-4, Abhimanshree Society, |
|
Date of Birth/Age : |
09.08.1974 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
00018654 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin |
|
Designation : |
Office Executive |
|
|
|
|
Name : |
Mr. Swapnil Kishor Talegaonkar |
|
Designation : |
Secretary |
|
Address : |
F-8, Tridev Apartment, Modern Colony, |
|
Date of Birth/Age : |
20.02.1986 |
|
Date of Appointment : |
14.10.2010 |
|
PAN No.: |
AGHPT1067B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.05.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Sudarshan Chemical Industries Limited, |
|
5999994 |
|
Dara N. Damania |
|
1 |
|
Kishore L. Rathi |
|
1 |
|
Narayandas J. Rathi |
|
1 |
|
Pradeep R. Rathi |
|
1 |
|
Shrikrishna N. Inamdar |
|
1 |
|
Rajesh B. Rathi |
|
1 |
|
Total
|
|
6000000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Sudarshan Chemical Industries Limited, |
|
400000 |
|
Total
|
|
400000 |
As on 24.05.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of plastic colour, single pigment concentrates, single colourant, master batches/ property master
batches. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30 Days and 60 Days) |
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Purchasing : |
Cash and Credit (30 Days and 60 Days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
(i) Colour and
additive masterbatch |
M. Tonnes |
2750 |
1703 |
|
|
|
|
|
Installed Capacity
certified by Managing Director
GENERAL INFORMATION
|
Customers: |
Wholesalers, Retailers and End Users |
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No. of Employees : |
110 (Approximately) (In Office + In Factory) |
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Bankers : |
v
Standard Chartered Bank, 90, v
Standard Chartered Bank, Shivaji Nagar, Pune, v
ICICI Bank Limited, v
Bank of Maharashtra, Shivaji Nagar, Pune, |
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Facilities : |
- Details of
Security (a) The Term
Loan from Standard Chartered Bank is secured by first charge by way of
mortgage by deposit of title deeds of land and building at Pirangut. The same
is further secured by the corporate guarantee issued by the holding company,
Sudarshan Chemical Industries Limited. (b) Working
Capital Borrowings from Standard Chartered Bank are secured by hypothecation
of stock-in-trade, book debts and receivables. These are further secured by
(i) first charge on the immovable property of the Company at Pirangut in the
State of (c) The Loan from Kotak Mahindra Prime Limited is secured
by hypothecation of vehicle procured out of the said loan. - Term Loans repayable within a year Rs.25.333 millions (P.Y.
Rs.25.333 millions)
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Amarendra
Athalye and Company Chartered
Accountants |
|
Address : |
Office No.9, 2nd Floor, Chitralekha Chambers, Ideal Colony,
Kothrud, Pune - 411 038, |
|
Income-tax
PAN of auditor or auditor's firm : |
ABWPA4607J |
|
|
|
|
Holding Company : |
Sudarshan Chemical Industries Limited CIN No.:
L24119PN1951PLC008409 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 millions |
|
400000 |
Preference Shares |
Rs.100/- each |
Rs.40.000 millions |
|
|
Total |
|
Rs.100.000
millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
* 6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 millions |
|
* 400000 |
Preference Shares |
Rs.100/- each |
Rs.40.000 millions |
|
|
Total |
|
Rs.100.000
millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
* 6000000 |
Equity Shares (Equity Shares of Rs.10
each fully paid up held by holding company Sudarshan Chemical Industries
Limited) |
Rs.10/- each |
Rs.60.000 millions |
|
* 400000 |
Preference Shares (Preference Shares of
Rs.100 each fully paid up held by holding company Sudarshan Chemical Industries
Limited) |
Rs.100/- each |
Rs.40.000 millions |
|
|
Total |
|
Rs.100.000
millions |
|
|
|
|
|
* Notes:
i) Preference Shares
are non cumulative in nature carrying a fixed dividend of 10% per annum.
ii) Preference shares
shall be convertible after the 5th year starting from the date of
allotment.
iii) Preference
shares carry a right of call and put option, which can be exercised by the
shareholders/ company anytime after the 4th year from date of issuance of
preference shares.
iv) Notwithstanding
the above, no preference shares covered by the present issue of 4 lac shares,
shall be redeemed until such time term loan from Standard Chartered Bank remain
unpaid.
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 |
60.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(46.672) |
(50.323) |
(46.731) |
|
|
NETWORTH |
53.328 |
49.677 |
13.269 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
91.046 |
90.824 |
110.416 |
|
|
2] Unsecured Loans |
59.700 |
77.100 |
52.500 |
|
|
TOTAL BORROWING |
150.746 |
167.924 |
162.916 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
204.074 |
217.601 |
176.185 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
123.228 |
118.359 |
122.463 |
|
|
Capital work-in-progress (including Capital Advances) |
2.730 |
1.800 |
0.412 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
57.401 |
53.751 |
24.679
|
|
|
Sundry Debtors |
50.022
|
50.313 |
24.844
|
|
|
Cash & Bank Balances |
2.802
|
4.699 |
1.314
|
|
|
Other Current Assets |
1.035
|
1.020 |
0.303
|
|
|
Loans & Advances |
19.952
|
22.863 |
21.411
|
|
Total
Current Assets |
131.212
|
132.646 |
72.551 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
40.673
|
27.488 |
13.148 |
|
|
Other Current Liabilities |
8.991
|
5.456 |
4.766
|
|
|
Provisions |
3.432
|
2.260 |
1.327
|
|
Total
Current Liabilities |
53.096
|
35.204 |
19.241 |
|
|
Net Current Assets |
78.116
|
97.442 |
53.310
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
204.074 |
217.601 |
176.185 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|||||
|
|
SALES |
|
|
|
|||||
|
|
|
Sales (Net) |
338.169 |
236.579 |
91.178 |
||||
|
|
|
Other Income |
10.116 |
9.032 |
1.736 |
||||
|
|
|
TOTAL (A) |
348.285 |
245.611 |
92.914 |
||||
|
|
|
|
|
|
|||||
|
Less |
EXPENSES |
|
|
|
|||||
|
|
|
Increase/Decrease
in Stocks |
(1.510) |
(9.848) |
(4.440) |
||||
|
|
|
Consumption of raw
material |
235.975 |
175.795 |
72.267 |
||||
|
|
|
Manufacturing and
other expenses |
62.199 |
43.747 |
24.481 |
||||
|
|
|
Administrative and
selling expenses |
15.754 |
10.271 |
8.999 |
||||
|
|
|
TOTAL (B) |
312.418 |
219.965 |
101.307 |
||||
|
|
|
|
|
|
|||||
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
35.867 |
25.646 |
(8.393) |
|||||
|
|
|
|
|
|
|||||
|
Less |
FINANCIAL
EXPENSES (D) |
20.514 |
18.725 |
16.564 |
|||||
|
|
|
|
|
|
|||||
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.353 |
6.921 |
(24.957) |
|||||
|
|
|
|
|
|
|||||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.703 |
10.513 |
9.527 |
|||||
|
|
|
|
|
|
|||||
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
3.650 |
(3.592) |
(34.484) |
|||||
|
|
|
|
|
|
|||||
|
Less |
TAX (H) |
0.000 |
0.000 |
0.180 |
|||||
|
|
|
|
|
|
|||||
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
3.650 |
(3.592) |
(34.664) |
|||||
|
|
|
|
|
|
|||||
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(50.323) |
(46.731) |
(12.067) |
|||||
|
|
|
|
|
|
|||||
|
|
BALANCE CARRIED
TO THE B/S |
(46.673) |
(50.323) |
(46.731) |
|||||
|
|
|
|
|
|
|||||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|||||
|
|
|
Export of goods on F.O.B. Basis (inclusive of exports of Export House) |
4.468 |
4.548 |
4.354 |
||||
|
|
TOTAL EARNINGS |
4.468 |
4.548 |
4.354 |
|||||
|
|
|
|
|
|
|||||
|
|
IMPORTS |
|
|
|
|||||
|
|
|
Raw Materials (including through Canalising Agencies) |
81.180 |
48.371 |
15.374 |
||||
|
|
|
Capital Goods |
1.921 |
0.000 |
12.209 |
||||
|
|
TOTAL IMPORTS |
83.101 |
48.371 |
27.583 |
|||||
|
|
|
|
|
|
|||||
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.61 |
(0.60) |
NA |
|||||
|
Particulars |
|
|
31.03.2012 |
|
|||||
|
Sales Turnover (Approximately) |
|
|
430.000 |
|
|||||
Expected Sales (2012-2013) : Rs.550.000 Millions
The above information has been parted by Mr. Sachin.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.05
|
(1.46)
|
(37.31)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.08
|
(1.52)
|
(37.82)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.43
|
(1.43)
|
(17.68)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
(0.07)
|
(2.60)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.82
|
4.09 |
13.73
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.47
|
3.77 |
3.77
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry
Creditor |
|
|
|
|
Outstanding to
creditors other than Micro, Small and Medium Enterprise |
37.969 |
24.963 |
|
|
Outstanding to
Micro, Small and Medium Enterprise |
2.704 |
2.525 |
|
|
|
40.673 |
27.488 |
13.148 |
|
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 |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
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 |
NOTE:
The registered office of the company has been shifted from 1162/2, Shivaji
Nagar, Behind Observatory Shivaji Nagar, Pune – 411 005, Maharashtra to the
present address w.e.f. 25.09.2006.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
u24229PN2006PLC128651 |
|
Name of the
company |
PRESCIENT COLOR LIMITED |
|
Address of the registered
office or of the principal place of
business in |
162, E-Mail: rohit.rathi@prescientcolor.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10058155 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
Standard Chartered Bank, 90, E-Mail: Nilesh.Babar@sc.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental to
Unattested Memorandum of Hypothecation |
|
Date of
instrument Creating the charge |
18.10.2010 |
|
Amount secured by
the charge |
Rs.57.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Credit
Facilities. Interest / Commission
- As agreed by and with the Bank from time to time. Terms of
Repayment: As agreed by and
with the Bank from time to time. Margin: As applicable, if
any. Extent and
Operation of the charge: The Bank is having
exclusive charge on current assets of the Company. |
|
Short particulars
of the property charged |
Hypothecation by
way of exclusive charge on a) all present
and future book debts, outstanding moneys receivables, claims and bills b) all present
and future stock in trade consisting of raw materials, finished goods, goods
in process of manufacturing and other merchandise. (As more
described in original hypothecation agreement dated 11.07.2007 and
Supplemental Hypothecation Agreement dated 22.08.2008) |
|
Date of latest
modification prior to the present modification |
22.08.2008 |
|
Particulars of
the present modification |
By present
modification, the existing charge of Rs.27.500 millions enhanced to Rs.57.500
millions. Now, the credit facility constitutes of Short Term Loan,
Pre-shipment Financing under Export Orders, Export Invoice Financing, Import
LC unsecured, OD, Export Invoice Financing, Bonds and Guarantees. |
FIXED ASSETS:
v
v Buildings
v Plat and Machinery
v Vehicles
v Furniture and Fixtures
v Office Equipments
v Plant and Machinery – R and D
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.55.45 |
|
|
1 |
Rs.87.98 |
|
Euro |
1 |
Rs.69.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.