MIRA
INFORM REPORT
|
Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
AVI AGRI BUSINESS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
23.03.2009 |
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Com. Reg. No.: |
10-021753 |
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Capital
Investment / Paid-up Capital : |
Rs.173.696 Millions |
|
|
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|
CIN No.: [Company Identification
No.] |
U15311MP2009PTC021753 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLA04716F |
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PAN No.: [Permanent Account No.] |
AAHCA6168M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of Soya extraction
and edible oils and also Trading thereof. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1300000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Management has failed to file the latest financial of 2013, with the
government department. As per previous year financial (i.e2012), the profitability of company
appears to be low. External borrowing of the company seems to be huge and
increasing. 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
cautions. |
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
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 |
CRISIL |
|
Rating |
Long term rating BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
August 27, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
August 27, 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 Office/ Factory : |
Saket Tower, 4th Floor, 3A, Ratlam Kothi, A.B. Road, Indore
- 452001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-2526844-45 |
|
Fax No.: |
91-731-4053955 |
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E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Praveen Kumar Vyas |
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Designation : |
Director |
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Address : |
37, Tilak Nagar Exe. |
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Date of Birth/Age : |
28.01.1959 |
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|
Date of Appointment : |
23.03.2009 |
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DIN No.: |
00103686 |
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Other Directorship: |
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|
Name : |
Mr. Mahendra Lakhichand Jalori |
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|
Designation : |
Director |
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Address : |
91/89, Vishal Deep, Shrushti, Flat No 4, 2nd Floor TMV
Colony, Gultekdi, Pune, |
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Date of Birth/Age : |
05.05.1955 |
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Date of Appointment : |
24.03.2009 |
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PAN No.: |
ABDPJ7745H |
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DIN No.: |
02592482 |
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Other Directorship: |
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KEY EXECUTIVES
|
Name : |
Kshema Patodi |
|
Designation : |
Secretary |
|
Address : |
1/1, Rishi Nagar Extension, Main Road, (Ved Nagar), Ujjian - 456010,
Madhya Pradesh, India |
|
Date of Appointment : |
10.09.2012 |
|
PAN No.: |
BGBPP2793R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mahendra Lakichand Jalori |
|
7500 |
|
Praveen Kumar Vyas |
|
7500 |
|
Suraj Agri Business Private Limited |
|
3741495 |
|
Vinod kumar jain |
|
375000 |
|
Avi jain |
|
26250 |
|
Excel Agri Business Private Limited |
|
7984380 |
|
Koyna Enterprises Private Limited |
|
5227500 |
|
|
|
|
|
Total |
|
17369625 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
97.61 |
|
Directors or relatives of Directors |
0.08 |
|
Other top fifty shareholders |
2.31 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of Soya extraction
and edible oils and also Trading thereof. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Solvent Extraction |
MT |
180000 |
-- |
|
Oil Refinery |
MT |
300000 |
46170.985 |
|
Seed Extraction |
MT |
-- |
124868.017 |
|
Crude Oil |
MT |
-- |
29029.763 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Punjab National Bank, MCB Branch, Siyaganj, Indore - 452001, Madhya
Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ashok Khasgiwala and Company Chartered Accountants |
|
Address : |
317, Chetak Centre, "Annex", RNT Marg, Indore - 452001,
Madhya Pradesh, India |
|
Tel. No.: |
91-731-2517341/3046909 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AFAPB2465F |
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Related Party : |
·
Koyna Enterprises Private Limited, India CIN: U52599MH1988PTC047963 ·
Suraj Agribusiness Pte Limited ·
Excel Agribusiness Private Limited, India CIN: U01403MP2008PTC020497 ·
Suraj Impex (India) Private Limited, India CIN: U51101MP1997PTC012506 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17369625 |
Equity Shares |
Rs.10/- each |
Rs. 173.696
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 |
|
173.696 |
92.598 |
|
(b) Reserves & Surplus |
|
150.871 |
105.531 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
324.567 |
198.129 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
489.130 |
226.037 |
|
(b) Deferred tax liabilities (Net) |
|
14.004 |
16.273 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
503.134 |
242.310 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
913.912 |
766.867 |
|
(b) Trade payables |
|
9.166 |
16.656 |
|
(c) Other current
liabilities |
|
150.361 |
34.441 |
|
(d) Short-term provisions |
|
15.580 |
5.610 |
|
Total Current Liabilities (4) |
|
1089.019 |
823.574 |
|
|
|
|
|
|
TOTAL |
|
1916.720 |
1264.013 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
382.015 |
376.137 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
304.704 |
30.830 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.006 |
0.006 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
25.034 |
15.081 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
711.759 |
422.054 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
706.416 |
635.704 |
|
(c) Trade receivables |
|
189.190 |
112.868 |
|
(d) Cash and cash
equivalents |
|
263.582 |
12.808 |
|
(e) Short-term loans and
advances |
|
4.878 |
44.607 |
|
(f) Other current assets |
|
40.895 |
35.972 |
|
Total Current Assets |
|
1204.961 |
841.959 |
|
|
|
|
|
|
TOTAL |
|
1916.720 |
1264.013 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
92.598 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
99.625 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
192.223 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
530.281 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
530.281 |
|
|
DEFERRED TAX LIABILITIES |
|
|
4.314 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
726.818 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
225.772 |
|
|
Capital work-in-progress |
|
|
174.027 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
217.549 |
|
|
Sundry Debtors |
|
|
2.711 |
|
|
Cash & Bank Balances |
|
|
91.698 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
38.555 |
|
Total
Current Assets |
|
|
350.513 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
21.348 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
2.645 |
|
Total
Current Liabilities |
|
|
23.993 |
|
|
Net Current Assets |
|
|
326.520 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.499 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
726.818 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
3.671 |
|
|
|
Other Income |
|
|
16.616 |
|
|
|
TOTAL (A) |
4046.217 |
3376.932 |
20.287 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material consumed |
|
|
25.287 |
|
|
|
Other Expenses |
|
|
1.017 |
|
|
|
Increase/ (Decrease) in stock |
|
|
(21.092) |
|
|
|
TOTAL (B) |
3993.025 (Including
Financial Expenses and Depreciation) |
3351.844 (Including
Financial Expenses and Depreciation) |
5.212 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
15.075 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
14.881 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.792 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
53.192 |
25.088 |
14.089 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
13.731 |
17.458 |
6.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
39.439 |
5.905 |
7.128 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1384.496 |
590.473 |
0.000 |
|
|
TOTAL EARNINGS |
1384.496 |
590.473 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
45.601 |
8.126 |
8.126 |
|
|
|
Stores & Spares |
1.585 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
47.186 |
8.126 |
8.126 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.27 |
0.64 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.97
|
0.17 |
35.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
383.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.30
|
2.03 |
4.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.13 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.32
|
5.01 |
2.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.02 |
14.61 |
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 |
Yes |
NOTE:
The registered address of the company has been shifted from Saket Tower,
First Floor, 3A, Ratlam Kothi, A.B. Road, Indore - 452001, Madhya Pradesh,
India to the present w.e.f.29.04.2012
BUSINESS REVIEW:
During the year the Company has earned Total Income of Rs. 4046.217
Millions and a net profit after tax was Rs. 39.439 Millions.
The authorised share capital of the Company is increased from Rs.
100.000 Millions to Rs. 200.000 Millions. The Issued, Subscribed and Fully
Paid-up Capital is also increasing from Rs. 92.598 Millions to Rs. 173.696
Millions during the accounting period.
BUSINESS SEGMENT
|
Name of Segment |
Comprised of |
|
|
|
|
Seed Extraction |
Processing of Soya Seed, manufacturing and trading of Soya DOC |
|
Oils |
Manufacturing and Trading of Crude Oils and Refined Oils |
GENERAL
INFORMATION
Subject is a private limited company incorporated under The Companies Act,
1956 on 23th March 2009 having registered office at Saket Tower,4 Floor, 3A Ratlam Kothi, A.B. Road Indore.
Company is presently engaged in the business of manufacturing of Soya
extraction and edible oils and also Trading thereof. The company is limited by
shares.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
113.997 |
58.450 |
|
Interoperate borrowings |
0.000 |
41.000 |
|
|
|
|
|
Total |
113.997 |
99.450 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10444970 |
02/08/2013 |
1,250,000,000.00 |
PUNJAB NATIONAL BANK |
MCB,, SIYA GANJ, INDORE, MADHYA PRADESH - 452001, INDIA |
B83034751 |
|
2 |
10389628 |
07/11/2012 |
420,000,000.00 |
PUNJAB NATIONAL BANK |
MCB BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452001, INDIA |
B63202287 |
|
3 |
10253589 |
13/11/2010 * |
50,000,000.00 |
PUNJAB NATIONAL BANK |
MCB BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452001, INDIA |
B01225648 |
|
4 |
10186213 |
21/05/2010 * |
250,000,000.00 |
PUNJAB NATIONAL BANK |
MCB BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452001, INDIA |
A89522114 |
|
5 |
10186216 |
07/11/2012 * |
1,600,000,000.00 |
PUNJAB NATIONAL BANK |
MCB BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452001, INDIA |
B63202204 |
|
6 |
10188219 |
31/10/2009 |
650,000,000.00 |
PUNJAB NATIONAL BANK |
MCB BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452001, INDIA |
A73425126 |
NOTE: * Date of
charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
|
|
|
Bank Guarantee |
12.972 |
|
|
|
|
Total |
12.972 |
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
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.62.10 |
|
|
1 |
Rs.101.27 |
|
Euro |
1 |
Rs.85.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
30 |
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.