MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
INOGENT LABORATORIES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Plot 28A, IDA Nacharam, Hyderabad-500076, Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.06.2005 |
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Com. Reg. No.: |
01-046402 |
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Capital
Investment / Paid-up Capital : |
Rs.161.250
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U24239AP2005PTC046402 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDI01491A |
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PAN No.: [Permanent Account No.] |
AABCI3898N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of providing contract research services in the area of drug discovery and development, manufacturing and trading of Active Pharma Ingredients and Intermediates. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of GVK Davix Technologies Private Limited. It is well established company having a satisfactory track record. It
has incurred loss from its operation during 2012. There also appears huge
external borrowing. However, it receives strong financial and operational
support from its affiliate ’GVK and Biosciences Private Limited’. One of
India’s leading contract research space. Trade relations are reported to be
fair. Business is active. Payments are slow but correct. In view of strong holding company can be considered 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
24.04.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 (Short Term rating) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
24.04.2012 |
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.
LOCATIONS
|
Registered Office / Factory : |
Plot 28A, IDA Nacharam, Hyderabad-500076, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27171822 / 27172828 / 66929999 |
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Fax No.: |
91-40-27151270 / 66929900 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on: 17.08.2011
|
Name : |
Mr. Krishna Reddy Venkata Gunapati |
|
Designation : |
Chairman |
|
Address : |
H No. 6-3-250/A/1, Road No.1, Banjara Hills, Hyderabad-500034, Andhra
Pradesh, Indi |
|
Date of Birth/Age : |
22.03.1937 |
|
Date of Appointment : |
01.06.2005 |
|
DIN No.: |
00005212 |
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|
|
|
Name : |
Mr. Davinder Singh Brar |
|
Designation : |
Director |
|
Address : |
Greenfields Farm, Gadaipur-Jaunapur Road, Village-Jaunapur,
Tehsil-Mehrauli, New Delhi-110030, India |
|
Date of Birth/Age : |
21.08.1952 |
|
Date of Appointment : |
30.09.2005 |
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DIN No.: |
00068502 |
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|
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Name : |
Mr. Sanjay Reddy Venkata Gunapati |
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Designation : |
Director |
|
Address : |
H No. 6-3-250/A/1, Road No.1, Banjara Hills, Hyderabad-500034, Andhra
Pradesh, Indi |
|
Date of Birth/Age : |
18.11.1964 |
|
Date of Appointment : |
01.06.2005 |
|
DIN No.: |
00005282 |
|
|
|
|
Name : |
Mr. Shernaz Firoze Vakil |
|
Designation : |
Director |
|
Address : |
67 E/F, Shamiana 301, Walkeswar Road, Mumbai-400006, Maharashtra,
India |
|
Date of Birth/Age : |
16.06.1951 |
|
Date of Appointment : |
24.11.2005 |
|
DIN No.: |
00002519 |
MAJOR SHAREHOLDERS
As on: 17.08.2011
|
Names of Equity Shareholders |
No. of Shares |
|
GVK Davix Technologies Private Limited, India |
6630000 |
|
GVK Biosciences Private Limited, India |
3770000 |
|
Dai-Ichi Karkaria Limited, India |
2600000 |
|
TOTAL
|
13000000 |
As on: 17.08.2011
|
Names of Preference Shareholders |
No. of Shares |
|
GVK Davix Technologies Private Limited, India |
1085000 |
|
GVK Biosciences Private Limited, India |
1415000 |
|
TOTAL
|
2500000 |
As on : 24.08.2012
|
Names of Preference Shareholders |
No. of Shares |
|
GVK Biosciences Private Limited, India |
300000 |
|
TOTAL
|
300000 |
Equity Share Break up (Percentage of Total Equity)
As on: 17.08.2011
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing contract research services in the area of drug discovery and development, manufacturing and trading of Active Pharma Ingredients and Intermediates. |
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Products : |
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PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Active Pharmaceutical Ingredients and Intermediated |
Kilo Ltrs |
100 |
117393.37 |
NOTES
i)
The products of the company are exempt from
licensing procedures.
ii) Installed
capacity, being a technical matter has not been verified by the auditors. However,
the management has certified the same.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Canara Bank, Prime Corporate Branch, TSR Complex,
SD Road, Secunderabad-500003, Andhra Pradesh, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Brahmayya and Company Chartered Accountant |
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Address : |
#403 and 404, Golden Green Apartments, Ittum Manzil Colony,
Hyderabad-500082, Maharashtra, India |
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PAN No.: |
AADFB8032G |
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Holding Company : |
GVK Davix Technologies Private Limited CIN No.: - U72200AP2005PTC045481 |
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Fellow Subsidiaries : |
GVK Bio Sciences Private Limited CIN No.: -U74999AP2000PTC035826 |
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Enterprise having
substantial Interest : |
Dai-Ichi Karkaria Limited |
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|
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|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
· Orbit Travel and Tours Private Limited · Taj GVK Hotels and Resorts Limited |
CAPITAL STRUCTURE
After: 17.08.2011
Authorised Capital : Rs.450.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.191.250
Millions
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
2500000 |
8% Cumulative Convertible Redeemable Preference Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
|
|
|
Rs.450.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16125000 |
Equity Shares |
Rs.10/- each |
Rs.161.250
Millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
161.250 |
380.000 |
323.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
96.991 |
0.000 |
70.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(80.675) |
(86.402) |
|
|
NETWORTH |
258.241 |
299.325 |
306.598 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
415.651 |
496.228 |
463.289 |
|
|
2] Unsecured Loans |
500.000 |
250.000 |
0.000 |
|
|
TOTAL BORROWING |
915.651 |
746.228 |
463.289 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1173.892 |
1045.553 |
769.887 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
906.123 |
649.456 |
637.132 |
|
|
Capital work-in-progress |
9.063 |
268.785 |
145.399 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.514 |
0.514 |
0.514 |
|
|
DEFERREX TAX ASSETS |
64.394 |
50.738 |
23.092 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
143.2670
|
93.710 |
96.320 |
|
|
Sundry Debtors |
230.383
|
202.611 |
139.661 |
|
|
Cash & Bank Balances |
7.310
|
2.431 |
6.210 |
|
|
Other Current Assets |
7.426
|
5.469 |
0.000 |
|
|
Loans & Advances |
40.064
|
60.915 |
53.569 |
|
Total
Current Assets |
428.450
|
365.136 |
295.760 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
106.046
|
134.410 |
124.820 |
|
|
Other Current Liabilities |
125.745
|
152.398 |
206.403 |
|
|
Provisions |
2.861
|
2.268 |
1.718 |
|
Total
Current Liabilities |
234.652
|
289.076 |
332.941 |
|
|
Net Current Assets |
193.798
|
76.060 |
(37.181) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.931 |
|
|
|
|
|
|
|
|
TOTAL |
1173.892 |
1045.553 |
769.887 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
871.166 |
634.393 |
601.588 |
|
|
|
Other Income |
|
|
12.329 |
|
|
|
TOTAL (A) |
871.166 |
634.393 |
613.917 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
805.695 |
|
315.865 |
|
|
|
Employee Cost |
|
|
131.786 |
|
|
|
Manufacturing, Selling and Administration Expenses |
|
|
173.596 |
|
|
|
(Increase) / Decrease in Stock |
|
|
(20.202) |
|
|
|
TOTAL (B) |
805.695 |
633.141 |
601.045 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
65.471 |
1.252 |
12.872 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.213 |
50.148 |
35.736 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2.742) |
(48.896) |
(22.864) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
51.766 |
42.822 |
37.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(54.508) |
(91.718) |
(59.877) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(13.425) |
(27.445) |
(13.791) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(41.083) |
(64.273) |
(46.086) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(150.675) |
(86.402) |
(40.316) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(191.758) |
(150.675) |
(86.402) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
550.294 |
488.768 |
445.776 |
|
|
TOTAL EARNINGS |
550.294 |
488.768 |
445.776 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
NA |
103.675 |
78.081 |
|
|
|
Stores & Spares |
|
0.300 |
25.333 |
|
|
TOTAL IMPORTS |
NA |
103.975 |
103.414 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.55) |
(4.95) |
(3.55) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(4.72)
|
(10.13) |
(7.51) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
(9.95) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.08)
|
(9.04) |
(6.26) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.21)
|
(0.31) |
(0.20) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.55
|
2.49 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.26 |
0.89 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
PERFORMANCE:
During the year, the Company achieved a turnover of Rs 871.166 Millions, showing a growth of 37.32% over the previous year. Net loss was at Rs. 41.083 Millions as against a loss of Rs. 64.273 Millions incurred during previous year. The company has continued to invest in people, processes and infrastructure which are expected to yield growth and better operating performance.
ACTIVE PHARMACEUTICAL
INGREDIENTS (APIS) AND INTERMEDIATES:
API business showed a healthy growth of 32% over the previous year. New markets have been identified for coverage and more customers added in the existing markets of Asia, Europe and India. The growth trend is expected to continue with the introduction of new potential products and regulatory approvals across various countries.
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWING |
|
|
|
Interoperate deposits |
250.000 |
0.000 |
|
Deposits from others |
200.000 |
200.000 |
|
Loans and advances from related parties |
50.000 |
50.000 |
|
Total |
500.000 |
250.000 |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U24239AP2005PTC046402 |
|
Name of the
company |
INOGENT
LABORATORIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot 28A, IDA Nacharam, Hyderabad-500076, Andhra Pradesh, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10208872 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
Canara Bank, Prime Corporate Branch, TSR Complex, SD Road,
Secunderabad-500003, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
Corporate
Guarantee dated 29th June 2012 |
|
Date of
instrument Creating the charge |
29.06.2012 |
|
Amount secured by
the charge |
Rs. 200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest OCC/ODBD: Base Rate+4.50%p.a.
(Floating), Presently 14.00% p.a. Term Loan: BPLR
(Floating), Presently 13.75% p.a. ILC/FLC (DA/DP):
Not Applicable, Non Fund Based Limits. Terms of repayment Working Capital
Limits tenable till 28.12.2011. Term Loan :
repayment as per the Common Hypothecation Agreement dated 03.03.2010 Margin Stocks-25%; Book
Debts-40%; PC/PCFC-10%; ILC/FLC-5% Extent and operation of the charge Working Capital:
Pari-Passu I charge along with YES Bank Limited on Inventories and
Receivables valued Rs.240.000 Millions as per Stock Statement Dt. 30.09.10
(CURRENT ASSETS) and Pari-Passu II charge along with YES Bank Limited on
entire Fixed Assets Present and Future having WDV of Rs. 727.100 Millions
(excluding Intangibles) as per ABS as at 31.03.10 including capital work in
progress (FAs) Term Loan:
Pari-Passu I charge on FAs and Pari-Passu II charge on CURRENT ASSETS along
with YES Bank Limited. |
|
Short particulars
of the property charged (Including location of the property) |
Inventory,
Receivables, Fixed Assets located at
Plot 28A, IDA Nacharam, Hyderabad |
|
Date of
instrument modifying the charge |
02.09.2011 |
|
Particulars of
the present modification |
By this
Modification of Charge, Corporate Guarantee given by GVK Biosciences Private
Limited in connection with the loans taken by Company for the amount not
exceeding Rs. 200.000 Millions is filed. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical Equipments
·
Furniture and Fixtures
·
Laboratory Equipments
·
Library
·
Vehicles
·
Office Equipments
·
Refrigeration and AC
·
Computers
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 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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.