|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAFEPACK INDUSTRIES LIMITED (w.e.f. 1996) |
|
|
|
|
Formerly Known
As : |
SAFEPACK POONA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 1093/1094, At and Post Shiroli, Taluka Rajgurunagar, Pune –
410 505, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.05.1991 |
|
|
|
|
Com. Reg. No.: |
11-061503 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.40.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29195PN1991PLC061503 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Speciality Packing Material. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 570000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company has shown a better growth in the turnover and profitability of the
company. However, the rating are constrained by modest scale of operations
and moderate client concentration risk though reputed client base provides
comfort. However, trade relations are reported as fair. Business is active.
Payments are reported to be 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB (Long Term) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
October, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4+ (Short Term) |
|
Rating Explanation |
Minimal degree of safety it carry very high
credit risk. |
|
Date |
October, 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ravindra |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-9860798881 |
|
Date : |
10.12.2013 |
LOCATIONS
|
Registered Office/Factory : |
Gat No. 1093/1094, At and Post Shiroli, Taluka Rajgurunagar, Pune –
410 505, Maharashtra, India |
|
Tel. No.: |
91-2135-222199 |
|
Mobile No.: |
91-9860798881 (Mr. Ravindra |
|
Fax No.: |
91-2135-223289 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
50000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Marketing Office 1: |
77, Safepack Complex, MIDC, Bhosari, Pune – 411 026, |
|
Tel. No.: |
91-20-27111000 |
|
Fax No.: |
91-20-27111000 |
|
E-Mail : |
|
|
|
|
|
Marketing Office 2: |
A Symphony, 210 Ashok Nagar, Range Hills Road, Pune - 411020,
Maharashtra, India |
|
Tel No.: |
91-20-25560400 |
|
Fax No.: |
91-20-25560888 |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Rajendra Bhagirath Tapadia |
|
Designation : |
Managing director |
|
Address : |
Bunglow No. 1, |
|
Date of Birth/Age : |
06.10.1959 |
|
Date of Appointment : |
16.11.2000 |
|
DIN No.: |
00508894 |
|
|
|
|
Name : |
Ms. Anjali Rajendra Tapadia |
|
Designation : |
Whole-time director |
|
Address : |
Bunglow No. 1, |
|
Date of Birth/Age : |
30.07.1962 |
|
Date of Appointment : |
26.05.1991 |
|
DIN No.: |
00508907 |
|
|
|
|
Name : |
Mr. Mohan Harakchand Bhandari |
|
Designation : |
Director |
|
Address : |
604, Mantri Lawns, Behind Anand Ban Club, Anand Ban, Aundh, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1959 |
|
Date of Appointment : |
20.10.2001 |
|
DIN No.: |
00052777 |
|
|
|
|
Name : |
Mr. Rajesh Omkarnath Malpani |
|
Designation : |
Director |
|
Address : |
Bansuri Janakinagar, Sangamner, District Ahmednagar Ms, Sangamner – 422605, Maharashtra, India |
|
Date of Birth/Age : |
23.02.1961 |
|
Date of Appointment : |
20.11.2001 |
|
DIN No.: |
01596468 |
KEY EXECUTIVES
|
Name : |
Mr. Ravindra |
|
Designation : |
Finance Executive |
|
|
|
|
Name : |
Shekhar Ghatpande and Company |
|
Designation : |
Company Secretaries |
|
Address: |
“Saraswati’, Flat No. 13, 3rd Floor, 93, Rambaug Colony,
Paud Road, Kothrud, Pune – 411038, Maharashtra, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Rajendra Bhagirath Tapadia |
3105270 |
|
Anjali Rajendra Tapadia |
938700 |
|
Ajit Khushalchand Lunawat |
1800 |
|
Mohan Harakchand Bhandari |
2250 |
|
Rajendra Bhagirath Tapadia (HUF) |
900 |
|
Sushil Pandurang Mantri |
180 |
|
Rajesh Omkarnath Malpani |
450 |
|
Safe Packaging Private Limited, Pune, Maharashtra, India |
450 |
|
Total
|
4050000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
Percentage |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
99.94 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Speciality Packing Material. |
|
|
|
|
Exports : |
|
|
Products : |
Speciality Packing Material |
|
Countries : |
·
Italy ·
Iran ·
USA ·
Africa ·
China |
|
|
|
|
Imports : |
|
|
Countries : |
Russia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Manufacturer |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
State Bank of India, 1548A,Commercial Branch, Sadashiv Peth,Tilak Road, Pune - 411030, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Patankar and Associates Chartered Accountants |
|
Address : |
19, Gold Wings, Parvati Nagar, Sinhagad Road, Pune - 411030,
Maharashtra, India |
|
Tel. No.: |
91-20-24252117/ 18 |
|
E-Mail : |
|
|
PAN No.: |
AABFP8926B |
|
|
|
|
Other related parties : |
· Safepropack Limited · Touchmagix Media Private Limited · Art Blends Limited · Technokarma - Proprietor Anup Tapadia · M/S DJ Malpani · Safepackaging Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4230000 |
Equity Shares |
Rs.10/- each |
Rs.42.300 Millions |
|
20000 |
Preference Shares |
Rs.10/- each |
Rs.0.200 Million |
|
|
Total |
|
Rs.42.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4050000 |
Equity Shares |
Rs.10/- each |
Rs.40.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
40.500 |
40.500 |
22.500 |
|
(b) Reserves & Surplus |
102.593 |
92.442 |
99.777 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
143.093 |
132.942 |
122.277 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
71.401 |
64.872 |
64.447 |
|
(b) Deferred tax liabilities (Net) |
15.395 |
8.335 |
8.052 |
|
(c) Other long term liabilities |
0.759 |
0.619 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.367 |
|
Total Non-current Liabilities (3) |
87.555 |
73.826 |
72.866 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
106.855 |
143.462 |
160.891 |
|
(b) Trade payables |
80.099 |
47.562 |
72.821 |
|
(c) Other current
liabilities |
32.033 |
26.462 |
24.308 |
|
(d) Short-term provisions |
3.086 |
1.147 |
0.119 |
|
Total Current Liabilities (4) |
222.073 |
218.633 |
258.139 |
|
|
|
|
|
|
TOTAL |
452.721 |
425.401 |
453.282 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
219.924 |
236.688 |
225.127 |
|
(ii) Intangible Assets |
0.807 |
0.399 |
0.628 |
|
(iii) Capital
work-in-progress |
15.085 |
20.982 |
22.654 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.799 |
11.583 |
13.975 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
248.616 |
269.653 |
262.385 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
86.794 |
69.837 |
85.543 |
|
(c) Trade receivables |
109.637 |
78.118 |
82.138 |
|
(d) Cash and cash
equivalents |
4.534 |
4.802 |
18.670 |
|
(e) Short-term loans and
advances |
2.815 |
2.861 |
3.848 |
|
(f) Other current assets |
0.325 |
0.130 |
0.700 |
|
Total Current Assets |
204.105 |
155.748 |
190.899 |
|
|
|
|
|
|
TOTAL |
452.721 |
425.401 |
453.282 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
603.380 |
515.794 |
442.913 |
|
|
|
Other Income |
4.062 |
1.782 |
2.198 |
|
|
|
TOTAL (A) |
607.442 |
517.576 |
445.111 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
420.323 |
373.706 |
338.328 |
|
|
|
Purchase of stock-in-trade |
0.205 |
0.177 |
0.060 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(0.038) |
1.186 |
(5.804) |
|
|
|
Employee benefits expenses |
43.176 |
39.684 |
31.046 |
|
|
|
Other expenses |
63.043 |
63.897 |
54.051 |
|
|
|
TOTAL (B) |
526.709 |
478.650 |
417.681 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
80.733 |
38.926 |
27.430 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.069 |
28.139 |
15.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
54.664 |
10.787 |
12.101 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.061 |
10.316 |
6.991 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
39.603 |
0.471 |
5.110 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.841 |
0.283 |
1.489 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
25.762 |
0.188 |
3.621 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11.113 |
10.925 |
7.304 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
36.875 |
11.113 |
10.925 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
56.918 |
55.877 |
30.053 |
|
|
TOTAL EARNINGS |
56.918 |
55.877 |
30.053 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
52.497 |
75.350 |
61.706 |
|
|
|
Stores & Spares |
0.097 |
0.000 |
0.000 |
|
|
|
Capital Goods |
0.279 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
52.873 |
75.350 |
61.706 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.36 |
0.07 |
1.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.24
|
0.04 |
0.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.56
|
0.09 |
1.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.05
|
0.12 |
1.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.00 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.25
|
1.57 |
1.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92
|
0.71 |
0.74 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT
(Rs. in Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current
maturities of long-term debt |
19.190
|
12.760 |
7.862 |
|
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 |
No |
|
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Sales Tax Deferernent Loans and Advances from Related Parties |
5.897 |
6.658 |
|
Intercorporate deposit |
11.900 |
0.000 |
|
From Director |
53.500 |
40.000 |
|
Less: Amount disclosed under the head "Other Current Liabilities |
(19.190) |
(12.760) |
|
SHORT TERM
BORROWINGS |
|
|
|
lntercorporate deposit |
0.000 |
5.000 |
|
lntercorporate deposit (Related Party) |
0.000 |
14.000 |
|
Deposits from Directors |
1.075 |
26.251 |
|
Total |
53.182 |
79.149 |
NOTE: The
registered office of the company has been shifted from Pride Kumar Senateb-303,
Senapati Bapat Road, Pune-411005, Maharashtra, India to the present address
w.e.f. 01.12.2008.
BUSINESS OUTLOOK AND
FINANCIAL RESULTS:
During the, the Net Revenue from Operations of the Company was Rs. 603.380 Millions as against Rs. 515.794 Millions of the previous year. After providing for Depreciation of Rs. 15.061 Millions and for Financial Cost of Rs. 26.069 Millions, Company earned the Profit after Tax of Rs. 25.762 Millions as against Rs. 0.188 Million of the previous year.
CORPORATE
INFORMATION:
The Company is a closely held Company. The Company is engaged in the business of manufacture and sale of specility packaging material i.e. protective, polycoated and flexible packaging materials and allied activities. The Company operates in both domestic and international market.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10111741 |
29/04/2011 * |
255,600,000.00 |
State Bank of India |
1548A,Commercial Branch, Sadashiv Peth, Tilak Road, Pune, Maharashtra - 411030, INDIA |
B12470001 |
|
2 |
90084906 |
30/05/2006 * |
1,200,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TILAK ROAD, PUNE, Maharashtra - 400030, INDIA |
- |
|
3 |
80005689 |
09/06/2006 * |
4,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TILAK ROAD, PUNE, Maharashtra - 400030, INDIA |
- |
|
4 |
90090777 |
25/01/2005 * |
1,200,000.00 |
STATE BANK OF INDIA |
TILAK ROAD BRANCH, PUNE, Maharashtra, INDIA |
- |
|
5 |
90089892 |
22/02/1994 * |
1,200,000.00 |
STATE BANK OF INDIA |
TILAK ROAD BRANCH, PUNE, Maharashtra, INDIA |
- |
|
6 |
90084023 |
29/10/1993 |
2,500,000.00 |
STATE BANK OF INDIA |
TILAK ROAD BRANCH, PUNE, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Free hold Land
·
Building
·
Plant and machinery
·
Computers
·
Furniture and Vehicles
·
Vehicles
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.61.33 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.