MIRA
INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
USV LIMITED |
|
|
|
|
Formerly Known
As : |
U.S. VITAMIN AND PHARMACEUTICAL CORPORATION (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Arvind Vithal Gandhi Chowk, BSD Marg, Govandi, Mumbai - 400088,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 [Profit and Loss A/c] |
|
|
|
|
Date of
Incorporation : |
25.08.1961 |
|
|
|
|
Com. Reg. No.: |
11-012098 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 999.670
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1961PLC012098 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU00007A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU1366N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Active Pharmaceutical Ingredient (API),
Finished Dosages and Generics. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 40000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and a closely held public limited company engaged in
manufacturing and marketing of pharmaceuticals in the form of tablets, capsules,
liquid, creams, etc. It has a fine track record. Financial position of the
company appears to be sound. Directors are
reported to be experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. The company is progressing well.
Payments are reported to be regular and as per commitments. The company can
be considered good 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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 |
AA + [Long Term] |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
31.07.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 + [Short Term] |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
31.07.2013 |
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 / Corporate Office : |
Arvind Vithal Gandhi Chowk, BSD Marg, Govandi, Mumbai - 400088,
Maharashtra, India |
|
Tel. No.: |
91-22-25564048/ 4049/
4050/ 4051/ 2225/ 25559915/ 25581118/ 67861111 |
|
Fax No.: |
91-22-25515608/
25584025 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
MIDC, Lote Industrial Area, Khed, Ratnagiri, OIDC, Dabhel, Daman,
HPSIDC, Baddi, Himachal Pradesh, India |
|
|
|
|
Factory 2 : |
Plot No. B-1 / 8, M.I.D.C. Lote Industrial Area, Taluka Khed,
Ratnagiri, |
|
Tel. No.: |
91-2356-272242 |
|
Fax No.: |
91-2356-272402 |
|
|
|
|
Factory 3: |
OIDC, Dabhel, Daman, Daman and Diu, India |
|
|
|
|
Factory 4: |
Hilltop Industrial, Area, Jhar Majri, Baddi, Himachal Pradesh, India |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mrs. Leena Gandhi Tewari |
|
Designation : |
Chairperson |
|
Address : |
41, Ritu Apartments, 208, B.J. Road, Bandra (West), Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
09.03.1957 |
|
Qualification : |
MBA, Boston University, USA B. Com. |
|
Date of Appointment : |
20.01.1986 |
|
DIN No.: |
00001748 |
|
|
|
|
Name : |
Mr. Prashant Kumar Tewari |
|
Designation : |
Managing director |
|
Address : |
41, Ritu Apartments, 208, B J Road, Bandra ( West), Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
09.04.1958 |
|
Qualification : |
MS, B. Tech IIT- Kanpur |
|
Date of Appointment : |
01.05.2008 |
|
DIN No.: |
00001745 |
|
|
|
|
Name : |
Debabrata Sujit Gupta |
|
Designation : |
Whole-time director |
|
Address : |
B-804, Etrnai, Hiranandani Gardens, Powai, Mumbai - 400076,
Maharashtra, India |
|
Date of Birth/Age : |
19.02.1963 |
|
Qualification : |
B. Tech.(Chemistry)-IIT Kharagpur |
|
Date of Appointment : |
19.09.2008 |
|
DIN No.: |
01500784 |
|
|
|
|
Name : |
Mr. Deepak Keshav Ghaisas |
|
Designation : |
Director |
|
Address : |
B 61/62, Swapnashilp Apartments, Mahant Road, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1957 |
|
Qualification : |
CA, CS and ICWA |
|
Date of Appointment : |
23.08.2003 |
|
DIN No.: |
00001811 |
|
|
|
|
Name : |
Debabrata Bhadury |
|
Designation : |
Director |
|
Address : |
9-A, Belvedere Court, Sane Guruji Marg, Mahalaxmi, Mumbai - 400011,
Maharashtra, India |
|
Date of Birth/Age : |
20.11.1941 |
|
Qualification : |
MA (Economics) |
|
Date of Appointment : |
01.05.2001 |
|
DIN No.: |
00001754 |
|
|
|
|
Name : |
Murugappan Muthiah Venkatachalam |
|
Designation : |
Director |
|
Address : |
20/1, Valliammai Achi Road, Kottupuram, Chennai - 600085, Tamilnadu,
India |
|
Date of Birth/Age : |
24.11.1958 |
|
Qualification : |
MBA, Washington University, USA |
|
Date of Appointment : |
31.07.2006 |
|
DIN No.: |
00152619 |
|
|
|
|
Name : |
Mr. Vilas Gandhi Tewari |
|
Designation : |
Director |
|
Address : |
5416, Fair Ave Apartment, 1321, N Hollywood, CA USA 91601 |
|
Date of Birth/Age : |
24.03.1984 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
05354249 |
KEY EXECUTIVES
|
Name : |
Mr. Tanmay Anand Joshi |
|
Designation : |
Secretary |
|
Address : |
1/23, Radha Krishna Nivas, |
|
Date of Birth/Age : |
20.01.1983 |
|
Date of Appointment : |
05.06.2009 |
|
PAN No.: |
AGWPJ8684G |
|
|
|
|
Name : |
Mr. Tushar Gedam |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Shareholders |
No. of Shares |
|
Leena Gandhi Tewari |
91287618 |
|
Aneesha Gandhi Tewari |
11106 |
|
Treva Health Care Private Limited, India |
5553 |
|
Vipal Health Care Private Limited, India |
5553 |
|
USV Reliable Homes Private Limited, India |
7404 |
|
Leena Gandhi Tewari Jointly with Prashant Tewari |
5395665 |
|
Prashant Tewari Jointly with Leena Gandhi Tewari |
3041193 |
|
Prashant Tewari |
201759 |
|
Neo-Pharma Industries Private Limited, India |
11106 |
|
TOTAL |
99966957 |
AS ON 27.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Active Pharmaceutical Ingredient (API),
Finished Dosages and Generics. |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Ř Axis Bank
Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden
Ellisbridge, Ahmedabad - 380006, Gujarat, India Ř State Bank of
India, Mid Corporate Loan, Administrative Unit, Shree Hari Building, RTO
Lane, Four Bunglows, Andheri (West), Mumbai-400053, Maharashtra, India [Tel
No.: 91-22-26332133] Ř
Standard
Chartered Grindlays Bank Limited, Dr. D. N. Road, Mumbai-400001, Maharashtra,
India Ř
The
Saraswat Co-operative Bank Limited, Mumbai, Maharashtra, India Ř Canara Bank Ř Vietcom Bank Ř JSC Bank Ř Swed Bank |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Internal Auditor
: |
|
|
Name : |
A P R Associates Chartered Accountants |
|
|
|
|
Cost Auditor : |
|
|
Name : |
Sevekari, Khare and Associates Cost Accountants |
|
|
|
|
Associates [31.03.2011] : |
Ř Treva Health
Care Private Limited Ř Vipal Health
Care Private Limited Ř Tender Remedies Ř Business Link
Automation (India) Limited Ř Vital Pharmacal
Private Limited Ř Neo Pharma
Industries Private Limited Ř Chronomed Health
Care Private Limited Ř USV Reliable
Homes Private Limited |
|
|
|
|
Subsidiaries [31.03.2011]: |
Ř USV North
America Inc Ř Indicus Pharma
LLC Ř USV Europe
Limited Ř USV Labs Limited
[U24232MH2010PLC20537] |
CAPITAL STRUCTURE
AS ON 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99,966,957 |
Equity Shares |
Rs. 10/- each |
Rs. 999.670
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
999.670 |
999.670 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
9070.135 |
8086.350 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10069.805 |
9086.020 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
7.825 |
7.825 |
|
|
2] Unsecured Loans |
|
25.989 |
32.127 |
|
|
TOTAL BORROWING |
|
33.814 |
39.952 |
|
|
DEFERRED TAX LIABILITIES |
|
177.428 |
228.141 |
|
|
|
|
|
|
|
|
TOTAL |
|
10281.047 |
9354.113 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3607.984 |
3478.177 |
|
|
Capital work-in-progress |
|
291.117 |
123.773 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
4864.610 |
4913.096 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1316.962
|
1144.009
|
|
|
Sundry Debtors |
|
1528.678
|
1125.101
|
|
|
Cash & Bank Balances |
|
1008.720
|
754.402
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
2265.269
|
1571.570
|
|
Total
Current Assets |
|
6119.629
|
4595.082
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1693.345 |
1255.366 |
|
|
Current Liabilities |
|
88.894
|
58.808
|
|
|
Provisions |
|
2820.054
|
2441.841
|
|
Total
Current Liabilities |
|
4602.293
|
3756.015
|
|
|
Net Current Assets |
|
1517.336
|
839.067
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
10281.047 |
9354.113 |
|
Note: Balance Sheet for the year 2012 is not available only Profit and
Loss Account is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
14470.371 |
11561.982 |
10149.493 |
|
|
|
Other Income |
642.243 |
471.958 |
488.665 |
|
|
|
TOTAL (A) |
15112.614 |
12033.940 |
10638.158 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3190.497 |
2534.104 |
|
|
|
|
Purchases of stock-in-trade |
1991.741 |
1505.726 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(72.008) |
(144.486) |
|
|
|
|
Employee benefit
expense |
1281.896 |
937.310 |
|
|
|
|
Other expenses |
4702.317 |
3879.488 |
|
|
|
|
TOTAL (B) |
11094.443 |
8712.142 |
7588.169 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4018.171 |
3321.798 |
3049.989 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.850 |
3.785 |
1.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4016.321 |
3318.013 |
3048.451 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
639.565 |
646.334 |
386.722 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3376.756 |
2671.679 |
2661.729 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
552.107 |
124.022 |
453.462 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2824.649 |
2547.657 |
2208.267 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of goods exported |
3374.620 |
2748.360 |
2833.690 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1028.828 |
530.356 |
639.190 |
|
|
|
Components and Spares Parts |
148.678 |
130.708 |
11.110 |
|
|
|
Capital Goods |
89.443 |
215.170 |
-- |
|
|
|
Traded Goods |
-- |
-- |
56.900 |
|
|
|
Plant and Machinery |
-- |
-- |
100.710 |
|
|
|
Laboratory Equipment |
-- |
-- |
87.790 |
|
|
|
Laboratory Chemicals and Consumables |
-- |
-- |
36.270 |
|
|
|
Others |
-- |
-- |
2.980 |
|
|
TOTAL IMPORTS |
1266.949 |
876.234 |
934.950 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.26 |
25.48 |
22.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
23.34
|
21.17 |
20.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.69
|
23.11 |
26.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
27.46 |
32.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.27 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.33 |
1.22 |
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 |
Yes |
|
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) |
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 |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Deferred Sales Tax Loan Unsecured |
N.A. |
25.989 |
|
Total |
N.A. |
25.989 |
CORPORATE INFORMATION
The Company is a public
company domiciled in India and incorporated under the provision of the
Companies Act, 1956. Its shares are not listed on any stock exchange in India.
The company is engaged in the manufacturing and selling of Active
Pharmaceutical Ingredient (API), finished dosages and generics. The Company is
admired in India for leadership in diabetes and cardio-vascular space, as well
as strong brands in other segments.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. in Millions) |
|
|
Guarantees given
by the Bank on behalf of the Company |
40.250 |
52.61 |
|
Letters of
credit issued by bank on behalf of the Company |
160.770 |
15.690 |
|
Demands of
Income Tax, Sales Tax and Excise (Authorities pertaining
to further disputes by respective authorities against initial appeal orders.
The Company is of the view that the matters will be decided in its favour and
does not expect any liability on these disputes) |
86.28 |
99.44 |
|
Claims against
the Company not acknowledged as debts 1)
DPCO / DPEA / NPPA Claims pertaining to recovery
of excess price / equalization. 2)
Legal / Labour Claims pertaining to compensation
pursuant to termination of service. |
246.670 3.230 |
241.180 2.240 |
FIXED ASSETS:
Ř Land – Freehold
Ř Land – Leasehold
Ř Factory Building
Ř Residential Buildings
Ř Office Premises
Ř Plant and Machinery
Ř Office Equipments
Ř Furniture and Fixtures
Ř Vehicles
Ř 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. 64.68 |
|
|
1 |
Rs. 100.79 |
|
Euro |
1 |
Rs. 86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
67 |
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.