1. Summary Information
|
|
|
Country |
|
|
Company Name |
SABIC INNOVATIVE PLASTICS INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Venugopal K. Koka |
|
Status |
Goods |
Principal Name 2 |
Mr. Mahesh Kumar Sharma |
|
|
|
Registration # |
04 – 50658 |
|
Street Address |
Plastics Avenue,
P O Jawahar Nagar, Vadodara-391320, Gujarat, India |
||
|
Established Date |
25.04.2007 |
SIC Code |
-- |
|
Telephone# |
91-265-3068551 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-265-2232144 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Engineering Plastics |
|
|
# of employees |
250 (Approximately)
|
Product Name 2 |
-- |
|
Paid up capital |
Rs.1086,225,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
HDFC Bank |
|
Public Limited Corp. |
NO |
Business Period |
5 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(52) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow
Subsidiary |
|
SABIC Innovative
Plastics GP BV |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,094,365,000 |
Current Liabilities |
1160,286,000 |
|
Inventories |
1219,673,000 |
Long-term Liabilities |
1,900,000 |
|
Fixed Assets |
498,232,000 |
Other Liabilities |
143,727,000 |
|
Deferred Assets |
80,618,000 |
Total Liabilities |
1,305,913,000 |
|
Invest& other Assets |
97,080,000 |
Retained Earnings |
1597,830,000 |
|
|
|
Net Worth |
2684,055,000 |
|
Total Assets |
3,989,968,000 |
Total Liab. & Equity |
3,989,968,000 |
|
Total Assets (Previous Year) |
3225,807,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Total Income |
9226,100,000 |
Net Profit |
484,400,000 |
|
Total Income (Previous
yr) |
7035,300,000 |
Net Profit(Prev.yr) |
339,800,000 |
MIRA
INFORM REPORT
|
Report Date : |
20.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SABIC INNOVATIVE PLASTICS INDIA PRIVATE LIMITED (w.e.f 18.09.2007) |
|
|
|
|
Formerly Known
As : |
ENDURING PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plastics Avenue, P O Jawahar Nagar, Vadodara-391320, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.04.2007 |
|
|
|
|
Com. Reg. No.: |
04 - 50658 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1086.225 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202GJ2007PTC050658 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDE00346D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE7565N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Engineering Plastics. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Goods |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of SABIC Group, Worldwide. It is an established company having fine track record. General
financial position of the company is good. Trade relations are reported as
fair. Business is active. Payments are reported to be regular 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.
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 Office/Factory : |
Plastics Avenue, P O Jawahar Nagar, Vadodara-391320, Gujarat, India |
|
Tel. No.: |
91-265-3068551/ 552/ 3068520 |
|
Fax No.: |
91-265-2232144/ 2232144 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
3500 sq. ft (Approximately) |
|
Location : |
Owned |
|
|
|
|
Branch Office: |
Located At : v
Gurgaon v
Mumbai v
v
Pune v
Chennai |
DIRECTORS
AS ON 27.09.2011
|
Name : |
Mr. Venugopal K. Koka |
|
Designation : |
Whole Time Director |
|
Address : |
D-501 |
|
Date of Birth/Age : |
09.06.1956 |
|
Date of Appointment : |
04.10.2007 |
|
DIN No.: |
01743860 |
|
|
|
|
Name : |
Mr. Mahesh Kumar Sharma |
|
Designation : |
Director |
|
Address : |
C-103, Carlton Estate DLF, phase – V, Gurgaon – 122 002, Haryana |
|
Date of Birth/Age : |
29.04.1978 |
|
Date of Appointment : |
11.08.2008 |
|
DIN No.: |
02317348 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh Kumar |
|
Designation : |
Secretary |
|
Address : |
100 B, Pocket-A2, Mayur Vihar-III, Delhi East, Delhi-110096,
Maharashtra, India |
|
Date of Birth/Age : |
06.09.1976 |
|
Date of Appointment : |
25.01.2011 |
|
PAN No.: |
AUXPK6377P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS on 27.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sabic Innovative Plastics Holding Singapore PTE Limited, |
93479751 |
|
Sabic Innovative |
15142794 |
|
Total |
108622545 |
AS ON 27.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Engineering Plastics. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Advanced Engineering Plastics |
M.T. |
28010 |
19432 |
|
Polycarbonate Sheets |
M.T. |
3946 |
2557713 |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
HDFC Bank, Delhi Branch, Bangalore, Karnataka,
India ·
ABN Amro Bank, Bangalore, Karnataka, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountant |
|
Address : |
|
|
Tel. No.: |
91-124-4644000 |
|
Fax No.: |
91-124-4644050 |
|
Pan No.: |
AALFS0506L |
|
|
|
|
Holding Company : |
·
SABIC Innovative Plastics Holding Singapore Pte
Limited, Singapore |
|
|
|
|
Ultimate Holding Company : |
·
Saudi Basic Industries Corporation |
|
|
|
|
Group companies where common control exists
(Fellow Subsidiaries) and where transactions have taken place during the year
: |
·
SABIC Innovative Plastics GP BV ·
SABIC Innovative Plastics Management (Shanghai) Company
Limited ·
SABIC Innovative Plastics (SEA) Pte. Limited ·
SABIC Plastech Sunsheet Zhn ·
SABIC Innovative Plastics Korea Limited ·
SABIC Innovative Plastics US LLC ·
SABIC Innovative Plastics China Company Limited ·
SABIC Polymer land Canada Company ·
SABIC Innovative Plastics Hong Kong Limited ·
SABIC Research and Technology Private Limited ·
SABIC Innovative Plastics BV ·
SABIC Innovative Plastics Shanghai Company
Limited ·
SABIC Innovative Plastics Singapore Pte. Limited ·
SABIC Innovative Plastics Japan LLC ·
SABIC Innovative Plastics South Americas ·
SABIC Innovative Plastics (SEA) Pte. Limited,
PacificeIc ·
SABIC Innovative Plastics (Thailand) Company
Limited ·
SABIC Innovative Plastics Australia Pty Limited ·
SABIC Sales Europe ·
SABIC Innovative Plastics Taiwan Holding Limited ·
SABIC Innovative Plastics Mexico S De RL De CV ·
SABIC Innovative Plastics SRL-VALLES ·
SABIC Innovative Plastics Mt. Vernon LLC ·
SABIC Innovative Plastics LNP Malaysia Sdn. Bhd. ·
SABIC Innovative Plastics Malaysia Sdn. Bhd. ·
SABIC Innovative Plastics International Trading
(Shanghai) Limited-Shanghai |
CAPITAL STRUCTURE
AS on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
114900000 |
Equity Shares |
Rs.10/- each |
Rs. 1149.000 Millions |
|
100000 |
Preference Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
Total |
|
Rs.
1150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
108622545 |
Equity Shares |
Rs.10/- each |
Rs. 1086.225 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 |
1086.225 |
1086.225 |
1086.225 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1597.830 |
1113.455 |
868.937 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2684.055 |
2199.680 |
1955.162 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.900 |
3.234 |
6.003 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
85.276 |
|
|
TOTAL BORROWING |
1.900 |
3.234 |
91.279 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2685.955 |
2202.914 |
2046.441 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
498.232 |
524.057 |
457.263 |
|
|
Capital work-in-progress |
97.080 |
8.687 |
27.732 |
|
|
Intangible Assets |
0.000 |
0.000 |
54.880 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
80.618 |
44.807 |
20.557 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1219.673
|
799.560
|
1024.464 |
|
|
Sundry Debtors |
1749.729
|
1405.201
|
1120.739 |
|
|
Cash & Bank Balances |
74.815
|
294.121
|
49.912 |
|
|
Other Current Assets |
0.048
|
0.092
|
0.038 |
|
|
Loans & Advances |
269.773
|
149.282
|
96.115 |
|
Total
Current Assets |
3314.038
|
2648.256 |
2291.268 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1055.613
|
831.078
|
676.809 |
|
|
Other Current Liabilities |
104.673
|
66.094
|
68.658 |
|
|
Provisions |
143.727
|
125.721
|
59.792 |
|
Total
Current Liabilities |
1304.013
|
1022.893 |
805.259 |
|
|
Net Current Assets |
2010.025
|
1625.363
|
1486.009 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2685.955 |
2202.914 |
2046.441 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
9226.100 |
7035.300 |
6096.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
8407.600 |
6411.300 |
5869.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
818.500 |
624.000 |
227.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.100 |
0.900 |
2.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
817.400 |
623.100 |
224.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
79.800 |
94.000 |
86.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
737.600 |
529.100 |
138.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
253.200 |
189.300 |
53.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
484.400 |
339.800 |
85.100 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
0.000 |
81.500 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
13.800 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
484.400 |
244.500 |
85.100 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
81.200 |
39.923 |
132.567 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3221.500 |
2038.166 |
1725.638 |
|
|
|
Capital Goods |
0.000 |
27.064 |
34.877 |
|
|
TOTAL IMPORTS |
3221.500 |
2065.230 |
1760.515 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.46 |
3.13 |
0.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.25
|
4.83 |
1.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.95
|
16.35 |
4.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.24 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.49
|
0.47 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54
|
2.59 |
2.85 |
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 |
Yes |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
-- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
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 |
No |
PERFORMANCE REVIEW
The Company
achieved a Net Turnover of Rs. 9226.100 Millions during the Financial Year, up
by 31.14%, as against Rs. 7035.300 Millions for the previous financial year.
The growth in the turnover is reflective of the strong management efforts,
improved market responses and conditions in the economy as a whole. The Profit
before Interest, Depreciation and Taxes of the Company was Rs. 818.500 Millions
as against Rs. 624.000 Millions for the previous financial Year. Total
Production for the financial year was 21989 MT as against 17,703 MT for the
previous financial year. There was an increase in the production capacity
utilization, which stood at 68.81% as against that of 55.40% in the previous
financial year.
PLASTICS INDUSTRY
The Plastics
Industry in India has made significant achievements ever since it made a modest
but promising beginning by commencing production of Polystyrene in1957.
The potential
Indian market has motivated Indian entrepreneurs to acquire technical
expertise, achieve high quality standards and build capacities in various
facets of the booming plastic industry. Phenomenal developments in the plastic
machinery sector coupled with matching developments in the petrochemical
sector, both of which support the plastic processing sector, have facilitated
the plastic processors to build capacities to
service both the
domestic market and the markets in the overseas.
The plastic
processing sector comprises of over 30,000 units involved in producing a
variety of items through injection moulding, blow moulding, extrusion and
calendaring. The capacities built in most segments of this industry coupled
with inherent capabilities have made them capable of servicing the overseas
markets.
The economic
reforms launched in India since 1991, have added further fillip to the Indian
plastic industry. Joint ventures, foreign investments, easier access to
technology from developed countries etc have opened up new vistas to further
facilitate the growth of this industry
The company has
grown by about 32.8% in Resin business and 20.13% in Speciality Film and Sheets
business. Thanks to large volumes from Local Manufacturing in India. The prices
of products are highly influenced by the changes in price of Benzene and Crude
Oil in addition to demand and supply factors and foreign exchange fluctuations.
IN HOUSE SHEET MANUFACTURING FACILITY
During the year,
the Company decided to move back the entire extruder plant that was leased to
Jains Irrigation Systems Limited, Jalgaon, and start in-house sheet
manufacturing at the existing Vadodara Plant. The Company has incurred a
capital expenditure of Rs. 70.000 Millions and a revenue outlay of Rs. 50.000
Millions towards the same.
FIXED ASSETS
·
· Buildings (including leasehold improvements)
· Plant and Machinery
· Furniture, Fixtures
· Office Equipment
· Computers
· Vehicles
· Software
· Non-compete fees
· Brand License
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.54.26 |
|
|
1 |
Rs.88.15 |
|
Euro |
1 |
Rs.71.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
52 |
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.