|
Report Date : |
20.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SWEET INDUSTRIES INDIA PRIVATE LIMITED (w.e.f. 16.07.2001) |
|
|
|
|
Formerly Known
As : |
SAMARTH FINANCE AND INVESTMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
501-505, Parmeshwari Centre, 18, Dalmia, Estate, Off. LBS Road, Mulund
(West), Mumbai – 400 080, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.09.1988 |
|
|
|
|
Com. Reg. No.: |
11-048843 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.6.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120MH1988PTC048843 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37021F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS1092E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Flexible Packaging Products. |
|
|
|
|
No. of
Employees: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 186000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having moderate track record. There appears
huge external borrowing taken by the company, which acts as threat to the
liquidity position of the company. Further company has incurred losses from
its operational activities during the year 2013. However, trade
relations are fair. Business is active. Payment terms are slow. The company can
be considered for business dealings with great 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.
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. Amol |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-226517100 |
|
Date : |
19.12.2013 |
LOCATIONS
|
Registered Office/ Head Office/ Corporate Office : |
501-505, Parmeshwari Centre, 18, Dalmia, Estate, Off. LBS Road, Mulund
(West), Mumbai – 400 080, Maharashtra, India |
|
Tel. No.: |
91-22-61517100 |
|
Fax No.: |
91-22-61517100/ 61517122 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
Plot No.W51/52A, Kupwad MIDC, District Sangli – 416 425, Maharashtra,
India |
|
Tel. No.: |
91-233-2645020, 2645021 |
|
Fax No.: |
91-233-2644611 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No.17, Sector 1, District Solan, Parwanoo – 173
220, Himachal Pradesh, India |
|
E-Mail : |
|
|
|
|
|
Overseas Office: |
Located
at: ·
Moscow ·
Singapore |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dilip Premji Yadava |
|
Designation : |
Director |
|
Address : |
B-4, Marathon CHS, 1st Floor, Off Devidayal Road, Mulund
(West), Mumbai – 400 080, Maharashtra, India |
|
Date of Birth/Age : |
22.11.1952 |
|
Date of Appointment : |
16.09.1988 |
|
DIN No.: |
00391212 |
|
|
|
|
Name : |
Mr. Bhavesh Premji Yadava |
|
Designation : |
Managing Director |
|
Address : |
A15/16, New Bhagyodaya CHS, 3rd Floor, Valji-Ladha Road,
Mumbai – 400 080, Maharashtra, India |
|
Date of Birth/Age : |
02.07.1966 |
|
Date of Appointment : |
07.04.1989 |
|
DIN No.: |
00391378 |
|
|
|
|
Name : |
Mr. Shantilal Damji Thakkar |
|
Designation : |
Director |
|
Address : |
B-3/606, Lok
Everest, Jatashankar Road, Mulund (West), Mumbai – 400 080, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1943 |
|
Date of Appointment : |
07.04.1989 |
|
DIN No.: |
00392190 |
KEY EXECUTIVES
|
Name : |
Mr. Amol |
|
Designation : |
Finance Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Thakkar Trading Private Limited, India |
125000 |
21.00 |
|
Purnimaben S. Sheth |
12000 |
2.00 |
|
Radhika G. Sheth |
33500 |
6.00 |
|
Ganshyam. S. Sheth (HUF) |
9000 |
2.00 |
|
Sevantilal M. Sheth |
12000 |
2.00 |
|
Dilip P. Yadava |
138025 |
23.00 |
|
Bhavesh P. Yadava |
138225 |
23.00 |
|
Shantilal Damji |
20150 |
3.00 |
|
Sushila S. Thakker |
7000 |
1.00 |
|
Vimal S. Thakker |
4850 |
1.00 |
|
Vipul S. Thakker |
6750 |
1.00 |
|
Purshottam. K. Thakker (HUF) |
15000 |
2.00 |
|
Dharmesh. P. Thakker |
15000 |
2.00 |
|
Prashant D. Thakker |
18000 |
3.00 |
|
Vishal D. Thakker |
12000 |
2.00 |
|
Siddharth Ganshyam Sheth |
33500 |
6.00 |
|
Total |
600000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Flexible Packaging Products. |
|
|
|
|
Products : |
·
Packaging Wrappers ·
Packaging Pouches ·
Printed Packaging Laminated Roll ·
Anti Fungal Stiffners |
|
|
|
|
Exports : |
|
|
Products : |
Flexible Packaging Products |
|
Countries : |
·
Russia ·
Dubai |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users ·
Hygenic Research Institute ·
Henkel ·
Lotte ·
VVF ·
Reckitt Benckiser ·
Godrej ·
Hindustan Lever Limited ·
J.K. Helene Curtis Limited ·
Dabur ·
Godrej ·
Ruchi ·
Wipro ·
WF Limited ·
Perfu Nova |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
The Shamrao Vithal Co-Operative Bank Limited, SVC
Tower, Nehru Road, Vakola, Santacruz (East), Mumbai – 400 005, Maharashtra,
India ·
HCFC Bank Limited ·
ICICI Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.P.B Pathak and Company Chartered Accountants |
|
Address : |
C601/602, Greenwood Complex, Oxford Building, Near Hyde Park, Ghodbunder
Road, Thane (West) – 400 607, Maharashtra, India |
|
PAN No.: |
AAGPP7959P |
|
|
|
|
Subsidiary Company (As on 31.03.2012) : |
Sweetco International Pte Limited, Singapore |
|
|
|
|
Other Related Parties (As on 31.03.2012) : |
·
Premji and Sons Trading India Private Limited ·
Jamnadas Premji and Company ·
Samarth Mercantile Private Limited ·
Sweetex Containers Private Limited ·
Sweet Confectionery ·
Thhaker Trading Company Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000
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 |
6.000 |
6.000 |
6.000 |
|
(b) Reserves & Surplus |
40.396 |
40.578 |
40.165 |
|
(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) |
46.396 |
46.578 |
46.165 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
106.226 |
125.435 |
126.287 |
|
(b) Deferred tax liabilities (Net) |
6.851 |
7.097 |
8.275 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.200 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
113.077 |
132.532 |
134.762 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
158.415 |
126.597 |
106.272 |
|
(b)
Trade payables |
92.647 |
111.496 |
104.958 |
|
(c)
Other current liabilities |
37.496 |
11.858 |
8.076 |
|
(d) Short-term
provisions |
2.398 |
3.523 |
2.581 |
|
Total Current
Liabilities (4) |
290.956 |
253.474 |
221.887 |
|
|
|
|
|
|
TOTAL |
450.429 |
432.584 |
402.814 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
113.941 |
128.191 |
141.882 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
5.585 |
0.000 |
1.426 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.777 |
4.777 |
4.778 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.421 |
20.343 |
14.937 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
141.724 |
153.311 |
163.023 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
178.009 |
148.968 |
154.214 |
|
(c)
Trade receivables |
85.860 |
101.983 |
67.351 |
|
(d) Cash
and cash equivalents |
36.921 |
19.533 |
0.023 |
|
(e)
Short-term loans and advances |
0.169 |
0.228 |
10.293 |
|
(f)
Other current assets |
7.746 |
8.561 |
7.910 |
|
Total
Current Assets |
308.705 |
279.273 |
239.791 |
|
|
|
|
|
|
TOTAL |
450.429 |
432.584 |
402.814 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations |
715.978 |
838.383 |
631.998 |
|
|
|
Other Income |
3.343 |
0.169 |
2.481 |
|
|
|
TOTAL (A) |
719.321 |
838.552 |
634.479 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
363.280 |
403.191 |
420.517 |
|
|
|
Purchases of stock-in-trade |
219.214 |
278.030 |
100.349 |
|
|
|
Changed in Inventories |
(4.580) |
(7.102) |
4.209 |
|
|
|
Employee Benefits Expenses |
17.863 |
17.523 |
19.404 |
|
|
|
Other Expenses |
84.334 |
91.546 |
49.082 |
|
|
|
Exceptional Items |
(20.301) |
(3.338) |
0.000 |
|
|
|
TOTAL (B) |
659.810 |
779.850 |
593.561 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
59.511 |
58.702 |
40.918 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
42.128 |
39.167 |
24.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
17.383 |
19.535 |
16.323 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.056 |
19.359 |
10.650 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
0.327 |
0.176 |
5.673 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.509 |
(0.237) |
(0.537) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(0.182) |
0.413 |
6.210 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.30) |
0.69 |
NA |
|
Expected Sales (2013-2014): Rs.1500.000 millions
The above information has been parted by Mr. Amol (Finance Controller).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.03) |
0.05 |
0.98
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.05 |
0.02 |
0.90
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.07 |
0.04 |
1.43
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.00 |
0.12
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.70 |
5.41 |
5.04
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.10 |
1.08
|
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Borrowings:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Term Loan |
11.778 |
11.908 |
10.158 |
|
Deferred tax Loan
|
0.449 |
0.502 |
0.502 |
|
Vehicle Loans |
0.282 |
0.245 |
0.396 |
|
Total |
12.509 |
12.655 |
11.056 |
|
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 |
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
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 |
No |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
CHARGE HOLDER |
ADDRESS |
Service Request
Number (SRN) |
|
1 |
10304958 |
29/08/2012 * |
282,596,000.00 |
THE SHAMRAO
VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU
ROAD, VAKOLA, SANTACRUZ (EAST), MUMBAI, MAHARASHTRA - 400055, INDIA |
B58335381 |
|
2 |
10304952 |
13/08/2011 |
20,000,000.00 |
THE SHAMRAO
VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU
ROAD, VAKOLA, SANTACRUZ (EAST), MUMBAI, MAHARASHTRA - 400005, INDIA |
B19931203 |
|
3 |
10299556 |
21/11/2009 |
10,000,000.00 |
THE SHAMRAO
VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU
ROAD, VAKOLA, SANTACRUZ (EAST), |
A98998206 |
|
4 |
10136894 |
15/12/2008 |
50,000,000.00 |
THE SHAMRAO
VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU
ROAD, VAKOLA, SANTACRUZ (EAST), MUMBAI, MAHARASHTRA - 400055, INDIA |
A54303599 |
|
5 |
10129801 |
27/10/2008 |
4,500,000.00 |
THE SHAMRAO
VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU
ROAD, VAKOLA, SANTACRUZ (EAST), |
A50781350 |
|
6 |
10089674 |
29/08/2012 * |
317,200,000.00 |
THE SHAMRAO VITHAL
CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU
ROAD, VAKOLA, SANTACRUZ (EAST), MUMBAI, MAHARASHTRA - 400055, INDIA |
B58396961 |
|
7 |
10300015 |
16/01/2008 |
2,500,000.00 |
THE SHAMRAO
VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU
ROAD, OPPOSITE VAKOLA MARKET, SANTACRUZ (EAST), MUMBAI, MAHARASHTRA - 400055,
INDIA |
A87023180 |
|
8 |
10074607 |
03/11/2007 |
2,924,803.00 |
DIRECTOR OF
INDUSTRIES HIMACHAL PRADESH THROUGH ME |
PARWANOO, DIST -
SOLAN, HIMACHAL PRADESH, HIMACH AL PRADESH - 173220, INDIA |
A26286146 |
|
9 |
80062316 |
06/01/2011 * |
299,700,000.00 |
THE SHAMRAO
VITHAL CO-OP BANK LIMITED |
SVC TOWER, NEHRU
ROAD, VAKOLA, SANTACRUZ (EAST), |
B07220098 |
|
10 |
80003827 |
29/08/2012 * |
150,000,000.00 |
THE SHAMRAO
VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU
ROAD, VAKOLA, SANTACRUZ (EAST), MUMBAI, MAHARASHTRA - 400055, INDIA |
B58336736 |
|
11 |
90225236 |
31/01/2003 |
15,000,000.00 |
VASANTDADA
SHETAKRISAH BANK |
SANGLI BRANCH,
KUPWADA, MUMBAI, MAHARASHTRA, INDI |
- |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Unsecured loans
from shareholders, directors and their relatives |
50.264 |
51.956 |
|
Unsecured loans from others |
|
|
|
From Various
Parties |
31.000 |
35.500 |
|
Deferred Sales
Tax Loan |
0.250 |
0.532 |
|
Total |
81.514 |
87.988 |
Note:
The Registered Office of the Company of the
company has been shifted from the 93/95, Sugar House, Kazi Sayed Street,
15th Road, Mumbai – 400 003, Maharashtra to the present address
w.e.f. 23.10.2009.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Leasehold Improvement
·
Furniture and Fixtures
·
Vehicles
·
Computer
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.62.38 |
|
|
1 |
Rs.102.15 |
|
Euro |
1 |
Rs.85.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--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 |
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 |
|
26 |
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.