MIRA
INFORM REPORT
|
Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SISCO RESEARCH LABORATORIES PRIVATE LIMITED |
|
|
|
|
2/F Satam Industrial
Estate, C.G. Marg, Chakala, Andheri (East), Mumbai – 400099, Maharashtra |
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.12.1974 |
|
|
|
|
Com. Reg. No.: |
11 - 018011 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.556 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100MH1974PTC018011 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS35811G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS3738F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling in Laboratories Requisites and Chemicals. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 236000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. The company has achieved a better growth in its sales turnover as well
as net profitability during 2012 which can be attributed to increase in
exports. The ratings also take into consideration the stretched liquidity
position owing to its large working capital requirements. Which is funded by
short term debt. However, trade relations are fair. Business is active. Payment terms
are slow but correct. 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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB- (Cash Credit) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
08.10.2012 |
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. Geeteshri |
|
Designation : |
Market Executive |
|
Contact No.: |
91-22-42685813 |
|
Date : |
07.08.2013 |
LOCATIONS
|
Registered Office : |
2/F Satam Industrial Estate, C.G. Marg, Chakala, Andheri (East),
Mumbai-400099, Maharashtra, India |
|
Tel. No.: |
91-22-28203882 |
|
Fax No.: |
91-22-28380998 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office / Correspondence Address : |
Navketan Co-Operative Industrial Premises Limited, Gala No. 26,
Mahakali Caves Road, Andheri (East), Mumbai-400093, Maharashtra, India |
|
Tel. No.: |
91- 22- 4268 5800 |
|
Fax No.: |
91- 22- 4268 5801 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Turbhe Plant, D-88/2, TTC Industrial Area, Turbhe, Navi Mumbai-400705, Maharashtra, India |
|
|
|
|
Factory 2 : |
Taloja Plant, Plot No. H-4, Taloja Industrial Area, MIDC, Padghe, Panvel, District Raigad-410208, Maharashtra, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Surendrakumar Agarwal |
|
Designation : |
Managing Director |
|
Address : |
‘A’ Wing Flat No. 501, Kamlakar Sadan, Swami Samarth Nagar, Andheri (west),
Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1935 |
|
Date of Appointment : |
27.12.1974 |
|
DIN No.: |
01211188 |
|
|
|
|
Name : |
Mr. Ramesh Surendra Agarwal |
|
Designation : |
Director |
|
Address : |
A’ Wing Flat No. 502, Kamlakar Sadan, Swami Samarth Nagar, Andheri
(west), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
05.02.1958 |
|
Date of Appointment : |
02.05.1988 |
|
DIN No.: |
01215172 |
|
|
|
|
Name : |
Ms. Mainadevi Surendra Agarwal |
|
Designation : |
Director |
|
Address : |
‘A’ Wing Flat No. 501, Kamlakar Sadan, Swami Samarth Nagar, Andheri
(west), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
27.10.1940 |
|
Date of Appointment : |
02.05.1988 |
|
DIN No.: |
00928397 |
|
|
|
|
Name : |
Mr. Akash Agarwal |
|
Designation : |
Additional Director |
|
Address : |
‘A’ Wing Flat No. 501, Kamlakar Sadan, Swami Samarth Nagar, Andheri
(west), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1981 |
|
Date of Appointment : |
02.06.2008 |
|
DIN No.: |
02222298 |
|
|
|
|
Name : |
Mr. Vikas Ramesh Agarwal |
|
Designation : |
Additional Director |
|
Address : |
‘A’ Wing Flat No. 501, Kamlakar Sadan, Swami Samarth Nagar, Andheri
(west), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
24.02.1984 |
|
Date of Appointment : |
01.11.2009 |
|
DIN No.: |
02946423 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Surendrakumar R. Agarwal |
16046 |
|
Ramesh S. Agarwal |
11779 |
|
Mainadevi S. Agarwal |
4105 |
|
Veena R. Agarwal |
1850 |
|
Akash R. Agarwal |
1500 |
|
Vikas R. Agarwal |
285 |
|
|
|
|
TOTAL
|
35565 |
AS ON 01.11.2012
|
Names of Allottees |
No. of
Shares |
|
Mr. Vikas R. Agarwal |
50 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling in Laboratories Requisites and Chemicals. |
|
|
|
|
Products : |
Research and
Laboratory Chemicals Biochemical’s and Related Compounds · Nucleosides, Nucleotides, Purines, Pyrimidines, Nucleic Acids · Proteins · Vitamins · Fluorogenic, Chromomeric and Enzyme Substrates Biochemical
Reagents and Related Compounds · Gel Filtration and Affinity Chromatography Reagents · Plant Growth Regulators and Mutagens · General Biochemical Reagents · Atomic Absorption Std. Solutions (Concentration: 1000mg/litre) · Inorganic Salts and Reagents for Analysis, Extra pure / AR Organic Compounds
and Solvents · HPLC, GC Grade Solvents and Ion Pairing Reagents · Organic Intermediates and Reagents Pure / Extrapure / AR · Quaternary Ammonium Compounds · Chromatographic Adsorbents TLC/Column Nan powders and
Carbon Nano tubes (CNT’s) Dehydrated
Cultural Media Products ·
Dehydrated Cultural Media ·
Dehydrated Cultural Media Kits |
PRODUCTION STATUS (AS ON: 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Laboratory Chemicals |
No |
NA |
NA |
157.736 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
||||||||||||||||||||||||||||||
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Bankers : |
Bank of Maharashtra, 85 ‘E’ Maker Tower, GR Floor, Cuff Parade, Mumbai
– 400005, Maharashtra, India |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Bansal and Associates Chartered Accountant |
|
Address : |
1001, Ijmima Complex, Raheja’s Metroplex, Link Road, Malad (west),
Mumbai – 400064, Maharashtra, India |
|
PAN No.: |
AADPB0832A |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,465 |
Equity Shares |
Rs.100/-
each |
Rs. 3.546
Millions |
|
100 |
Equity Shares |
Rs.100/-
each |
Rs. 0.010
Millions |
|
|
Total |
|
Rs. 3.556 Millions |
AFTER 29.09.2012
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35615 |
Equity Shares |
Rs.100/- each |
Rs.3.562 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3.557 |
3.512 |
|
(b) Reserves & Surplus |
|
55.405 |
50.205 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.100 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
59.062 |
53.717 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
29.456 |
31.082 |
|
(b) Deferred tax liabilities (Net) |
|
1.700 |
1.816 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
31.156 |
32.898 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
54.318 |
42.755 |
|
(b)
Trade payables |
|
17.886
|
19.067 |
|
(c)
Other current liabilities |
|
22.348 |
19.257 |
|
(d) Short-term
provisions |
|
4.584
|
2.585 |
|
Total Current
Liabilities (4) |
|
99.136 |
83.664 |
|
|
|
|
|
|
TOTAL |
|
189.354 |
170.279 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
74.786 |
74.107 |
|
(ii)
Intangible Assets |
|
1.083 |
0.000 |
|
(iii)
Capital work-in-progress |
|
3.525 |
2.841 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.017 |
0.017 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
79.411 |
76.965 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
49.630
|
35.760 |
|
(c)
Trade receivables |
|
46.847
|
44.480 |
|
(d) Cash
and cash equivalents |
|
2.450 |
1.800 |
|
(e)
Short-term loans and advances |
|
10.807 |
11.098 |
|
(f)
Other current assets |
|
0.209
|
0.176 |
|
Total
Current Assets |
|
109.943 |
93.314 |
|
|
|
|
|
|
TOTAL |
|
189.354 |
170.279 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.081 |
|
|
2] Share Application Money |
|
|
2.000 |
|
|
3] Reserves & Surplus |
|
|
45.060 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
50.141 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
63.674 |
|
|
2] Unsecured Loans |
|
|
5.365 |
|
|
TOTAL BORROWING |
|
|
69.039 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.521 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
120.701 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
77.355 |
|
|
Capital work-in-progress |
|
|
2.581 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.016 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
19.450 |
|
|
Sundry Debtors |
|
|
41.227 |
|
|
Cash & Bank Balances |
|
|
1.550 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
16.299 |
|
Total
Current Assets |
|
|
78.526 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
19.430 |
|
|
Other Current Liabilities |
|
|
7.834 |
|
|
Provisions |
|
|
10.513 |
|
Total
Current Liabilities |
|
|
37.777 |
|
|
Net Current Assets |
|
|
40.749 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
120.701 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
177.014 |
149.162 |
|
|
|
|
Other Income |
2.540 |
2.111 |
|
|
|
|
TOTAL |
179.554 |
151.273 |
149.765 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
173.320 |
146.285 |
141.246 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) |
6.234 |
4.988 |
8.519 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.884 |
1.564 |
2.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) |
4.350 |
3.424 |
5.852 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.059 |
40.635 |
34.782 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
48.409 |
44.059 |
40.635 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export on FOB Value |
28.117 |
11.980 |
21.136 |
|
|
TOTAL EARNINGS |
28.117 |
11.980 |
21.136 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
10.235 |
5.015 |
5.504 |
|
|
|
Machinery |
0.000 |
3.329 |
0.000 |
|
|
TOTAL IMPORTS |
10.235 |
8.344 |
5.504 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
122.31 |
102.56 |
190.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.42
|
2.26 |
3.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.52
|
3.34 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.35
|
2.98 |
5.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.09 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.42
|
1.37 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.45
|
2.28 |
2.08 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
8.496 |
8.372 |
NA |
|
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 |
No |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CORPORATE INFORMATION:
Subject is a private limited. Company
domiciled in India and was incorporate under the provision of the Companies Act,
1956 as a private limited company by the name Sisco Research Laboratories
Private Limited in the state of Maharashtra on 27th December, 1974.
The company is engaged in manufacturing and
selling in laboratories requisites and chemicals.
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Loans from Related Parties |
8.455 |
8.455 |
|
Loans from Others |
0.405 |
0.405 |
|
TOTAL |
8.860 |
8.860 |
FIXED ASSETS:
·
Land (leasehold0
·
Factory Building
·
Office Building
·
Godown Building
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixture
·
Office Equipment
·
Motor Cars
·
Computers
·
Moulds
·
Motor Vehicles (Tempo)
·
Glass Apparatus
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.61.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.