|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ TYSON FOODS LIMITED (w.e.f. 14.10.2008) |
|
|
|
|
Formerly Known
As : |
GODREJ FOODS LIMITED |
|
|
|
|
Registered
Office : |
Pirojshanagar, Eastern |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-177741 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.989
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15122MH2008PLC177741 |
|
|
|
|
IEC No.: |
0308025342 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG13319F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCG1614N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing and distribution of Processed Chicken and Value Added Products. |
|
|
|
|
No. of Employees
: |
Information declined by management
|
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 4800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a joint venture between Godrej Agrovet Limited., and Tyson
Foods INC. It is a well-established
company having moderate track record. The company has incurred a loss from its operations during 2013. However,
general financial position of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payment terms are slow
but correct. In view of strong holdings, the company can be considered normal 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed to
$ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services sector
activity witnessed a moderate improvement in November over the previous month,
even while indicating the fifth successive monthly contraction, according the
HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Upendra |
|
Designation : |
Secretary |
|
Contact No.: |
91-22-25194416 |
|
Date : |
28.12.2013 |
LOCATIONS
|
Registered Office : |
Pirojshanagar, Eastern Express Highway, Vikhroli, Mumbai – 400 079,
Maharashtra, India |
|
Tel. No.: |
91-22-25194416 / 25188010 / 25188020 / 25188030 |
|
Fax No.: |
91-22-25188485 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
DIRECTORS
As on: 13.06.2013
|
Name : |
Mr. Nadir Burjorji Godrej |
|
Designation : |
Chairman |
|
Address : |
40-D, B G Kher Marg, Malabar Hill, Mumbai – 400 006, Maharashtra,
India. |
|
Date of Birth/Age : |
26.08.1951 |
|
Qualification : |
BSC – Chemical Eng (MIT USA), MS – Chemical Eng (Stanford-USA), MBA |
|
Date of Appointment : |
24.06.2008 |
|
Voter ID No.: |
MT/04/024/099721 |
|
DIN No.: |
00066195 |
|
|
|
|
Name : |
Mr. Balaram Singh Yadav |
|
Designation : |
Managing Director |
|
Address : |
Bunglow No. G-9/1, Godrej Hillside Colony, L B S Marg, Vikhroli
(West), Mumbai – 400 006, Maharashtra, India. |
|
Date of Birth/Age : |
15.07.1964 |
|
Qualification : |
BSC (Hon) Agri-Science, PGDM (A) IIM-Ahmedabad |
|
Date of Appointment : |
11.01.2008 |
|
Voter ID No.: |
UUP1213859 |
|
DIN No.: |
00294803 |
|
|
|
|
Name : |
Mr. Rick Allen Thomason |
|
Designation : |
Additional Director |
|
Address : |
4052 Pasofino Loop, Springdale 727641772 |
|
Date of Birth/Age : |
17.03.1963 |
|
Qualification: |
BS Accounting |
|
Date of Appointment : |
06.09.2010 |
|
DIN No.: |
03157764 |
|
|
|
|
Name : |
Mr. James Victor Lochner |
|
Designation : |
Director |
|
Address : |
4921, Clear Creek, Blvd Fayettville, Arkansas – 72704 |
|
Date of Birth/Age : |
11.08.1952 |
|
Qualification: |
B. and M. (Meat and Animal Science) |
|
Date of Appointment : |
16.03.2013 |
|
DIN No.: |
06514164 |
|
|
|
|
Name : |
Mr. James Stanley Young |
|
Designation : |
Director |
|
Address : |
6311, Wells Circle, Springdale, Arkansas – 72762 |
|
Date of Birth/Age : |
08.08.1966 |
|
Date of Appointment : |
16.03.2013 |
|
DIN No.: |
06514170 |
KEY EXECUTIVES
|
Name : |
Mr. Upendra Ramniranjan Pathak |
|
Designation : |
Secretary |
|
Address : |
4792, N, Maple Grove Drive, Springdals, Arkansas – 72764 |
|
Date of Birth/Age : |
11.12.1967 |
|
Date of Appointment : |
13.01.2012 |
|
Voter ID No.: |
MP07/049/09676/83 |
|
PAN No.: |
ADKPP9644A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 13.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Godrej Agrovet Limited, |
|
97455 |
|
Godrej Agrovet Limited joint with Balram Singh Yadav |
|
1 |
|
Godrej Agrovet Limited joint with Subramanian Varadaraj |
|
1 |
|
Godrej Agrovet Limited joint with Pitambar Narayan Narkhede |
|
1 |
|
Godrej Agrovet Limited joint with Govindan Ramakrishna Rishinaradamangalam
|
|
1 |
|
Godrej Agrovet Limited joint with Yashasvi Harshvadan Mehta |
|
1 |
|
Godrej Agrovet Limited joint with Prafulla Bhat |
|
1 |
|
Tyson India Holdings Limited, |
|
101439 |
|
|
|
|
|
Total |
|
198900 |
Equity Share Break up (Percentage of Total Equity)
As on: 13.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Bodies corporate |
|
49.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and distribution of Processed Chicken and Value Added Products. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
3i Infotech Trusteeship Services Limited 6th Floor, Akruti Center Point, MIDC Central Road, Next to
Marol Telephone Exchange, Andheri, East, Mumbai – 400 093, Maharashtra, India
|
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwala And Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage, |
|
Tel. No.: |
91-22-66348020 |
|
Fax No.: |
91-22-22673964 |
|
PAN No.: |
AAAFK7554R |
|
|
|
|
Holding Company : |
·
Tyson India Holdings Limited |
|
|
|
|
Joint Ventured : |
· Godrej Agrovet Limited CIN No.: U15410MH1991PLC135359 |
|
|
|
|
Other related
parties: |
· Godrej Industries Limited CIN No.: L24241MH1988PLC097781 · ACI Godrej Agrovet Private Limited, Bangladesh · Poultry Processors Association of India · Jiangsu Tyson Foods Limited. · Haimen Tyson Poultry Development Limited. · Changyi Tyson Foods Company Limited. · Changyi Tyson Poultry Company Limited. · Changyi Tyson Xinsheng Foods Company Limited. · Rizhao Tyson Poultry Company Limited. · Shandong Tyson Foods Company Limited · Shandong Tyson Shengde Foods Company Limited · Shandong Tyson Yuansheng Duck Company Limited |
|
|
|
|
Enterprises which are owned, or have significant influence
of or are partners with Key management personnel and their relatives: |
·
Tyson Foods Inc |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
198900 |
Equity Shares |
Rs.10/- each |
Rs. 1.989
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 |
1.989 |
1.989 |
1.753 |
|
(b) Reserves & Surplus |
1204.922 |
1386.768 |
1017.578 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
213.770 |
|
Total Shareholders’
Funds (1) + (2) |
1206.911 |
1388.757 |
1233.101 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.973 |
4.055 |
4.512 |
|
Total Non-current Liabilities (3) |
5.973 |
4.055 |
4.512 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
305.000 |
0.000 |
0.000 |
|
(b) Trade payables |
181.996 |
73.262 |
193.509 |
|
(c) Other current liabilities |
113.378 |
87.315 |
90.308 |
|
(d) Short-term provisions |
0.675 |
0.461 |
2.105 |
|
Total Current Liabilities (4) |
601.049 |
161.038 |
285.922 |
|
|
|
|
|
|
TOTAL |
1813.933 |
1553.850 |
1523.535 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
907.355 |
649.368 |
463.601 |
|
(ii) Intangible Assets |
260.032 |
310.698 |
360.092 |
|
(iii) Capital work-in-progress |
0.096 |
30.277 |
148.694 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.409 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
5.767 |
5.286 |
4.502 |
|
(d) Long-term Loan and Advances |
60.339 |
120.801 |
20.047 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1233.589 |
1116.430 |
997.345 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories7 |
381.074 |
268.894 |
235.351 |
|
(c) Trade receivables |
153.655 |
106.305 |
114.611 |
|
(d) Cash and cash equivalents |
38.678 |
44.909 |
159.055 |
|
(e) Short-term loans and advances |
6.816 |
17.227 |
17.117 |
|
(f) Other current assets |
0.121 |
0.085 |
0.056 |
|
Total Current Assets |
580.344 |
437.420 |
526.190 |
|
|
|
|
|
|
TOTAL |
1813.933 |
1553.850 |
1523.535 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3192.438 |
2661.323 |
2290.437 |
|
|
|
Other Income |
2.030 |
4.809 |
2.768 |
|
|
|
TOTAL (A) |
3194.468 |
2666.132 |
2293.205 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2196.525 |
1385.545 |
1029.016 |
|
|
|
Purchases of stock-in-trade |
125.087 |
126.332 |
358.113 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(82.288) |
(25.686) |
(17.482) |
|
|
|
Employee benefit expense |
183.730 |
206.373 |
202.703 |
|
|
|
Other expenses |
807.464 |
707.683 |
492.028 |
|
|
|
Expenditure on production |
0.000 |
0.000 |
(6.102) |
|
|
|
TOTAL (B) |
3230.518 |
2400.247 |
2058.276 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(36.050) |
265.885 |
234.929 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.060 |
0.000 |
1.821 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(51.110) |
265.885 |
233.108 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
131.217 |
115.478 |
91.287 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
(182.327) |
150.407 |
141.821 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.481) |
(5.246) |
12.461 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(181.846) |
155.653 |
129.360 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
41.352 |
(114.304) |
(243.685) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(140.494) |
41.352 |
(114.325) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(914.26) |
782.57 |
738.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.69) |
5.83 |
5.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.71) |
5.65 |
6.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.09) |
9.91 |
10.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.15) |
0.11 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
2.71 |
1.85 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Loans repayable on demand |
150.000 |
0.000 |
|
|
|
|
|
Total |
150.000 |
0.000 |
CASE DETAILS
|
Stamp No.:- |
CAWST/23689/2012 |
Filing Date:- |
28.08.2012 |
Reg. No.:- |
CAW/2260/2012 |
Reg. Date:- |
28.08.2012 |
|
Stamp No.:- |
WPST/20167/2012 |
Reg. Date:- |
WP/7042/2012 |
|
Petitioner:- |
The Member Secretary, Maharashtra |
Respondent:- |
Godrej Tyson Foods Limited |
|
Petn. Adv.:- |
Ms. Sharmila U. Deshmukh |
|
|
|
District:- |
Raigad |
|
|
|
Bench:- |
Division |
|
|
|
Status:- |
Pre-Admission |
Category:- |
For Direction |
|
Last Date:- |
02.09.2013 |
Stage:- |
For admission - after notice [civil side matters] |
|
Last Coram:- |
Hon'ble The Chief Justice Hon'ble Shri Justice M.S. Sanklecha |
|
|
|
Act :- |
Other Act |
REVIEW OF OPERATIONS
The year was a year of turmoil for the Poultry Industry. The Poultry Industry had to bear the brunt of significant raw material price increases. The major price increase has happened in Soya meal price, average 55% increase and in Corn price, average 20% increase in 2012-13 over March 2012 price. As If this blow was not enough, the Poultry Industry witnessed significant drop in the output prices on account of excess supply and outbreak of bird flu in Southern part of India. The Company tried to salvage the situation by taking regular price increases in the Processed Chicken Segment and the Value Added Segment of Yummiez These increases in prices further resulted into muted growth in the processed chicken and value added? Yummiez Business resulting these business segments growing by 4% and 10% in top line over the previous year respectively. Since the growth in the processed chicken and Yummiez Business was muted, excess broilers was required to be sold in the live bird market at a much lower price (especially during the peak season when the live bird prices dropped significantly below the cost of production). This has resulted into 110% growth in Live Bird Sale over the previous year. The company was also able to salvage the situation by sale of hatching eggs and parent stock (Cull Birds) which was profitable during the year. Overall the Company has reported 20% growth in Turnover @ -5.71% Loss on this turnover (Previous year profit @ 5.65%).
During the Year the Company has invested heavily in 4 different Capital projects and successfully commissioned the same in this year. These projects include 2 Waste Water Treatment Plant (WWTP) projects, one at Taloja and another one at Hoskote factory and 2 Capacity Expansion Projects, one at Taloja (from 27000 BPD to 40000 BPD) and another one at Hoskote (from 27000 BPD to 48000 BPD).
During the year the Company has also got Capital sanction for purchase of new Freezers (725 freezers) and Chillers (300 Chillers) and the placement process has already started before end of this year.
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10389909 |
26/11/2012 |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B63246458 |
FIXED ASSETS:
·
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Intangible assets
·
Brands and trade marks
·
Computer software
·
Know-how
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. 62.00 |
|
|
1 |
Rs. 102.17 |
|
Euro |
1 |
Rs. 85.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
35 |
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.