MIRA INFORM REPORT
|
Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARAKH AGRO INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Parakh House, Plot No.1 and 2, Market Yard, Gultekdi, Pune – 411037, |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.07.1987 |
|
|
|
|
Com. Reg. No.: |
11-132583 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 480.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01403PN1987PLC132583 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP00528D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP0314L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Agro Based Product and Commodities. |
|
|
|
|
No. of Employees : |
1900 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a satisfactory track record.
The performance capacity o the company seems to be good. Financial position of
the company is improving. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered for normal 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 is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
CASH CREDIT : ICRA BBB |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation it carry moderate credit risk. |
|
Date |
January, 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 : |
Ms. Asma Shaikh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-24261733 |
|
Date: |
02.02.2013 |
LOCATIONS
|
Registered Office / Corporate Office: |
Parakh House, Plot No.1 and 2, Market Yard, Gultekdi, Pune – 411037, |
|
Tel. No.: |
91-20-24261733 |
|
Fax No.: |
91-20-24263211 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office / Factory 1 : |
Plot No.D-230, T.T.C. Industrial Area, |
|
Tel. No.: |
91-22-27632745-47 / 27685702 |
|
Fax No.: |
91-22-27632755 |
|
|
|
|
Factory 2 : |
Gat No.45/1-2-3, Village Bhandgaon, Taluka Daund, District Pune – 412
214, |
|
Tel. No.: |
91-2119-275377 |
|
Fax No.: |
91-2119-275775 |
|
|
|
|
Factory 3 : |
Gat No. 45/1-2-3, Village
Devnavhe, |
|
|
|
|
Factory 4 : |
Food Processing Park,
Plot No. 93-142, |
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|
|
|
Factory 5 : |
Plot No. 812 and 813, Sector
No. III, Pithampur Industrial Area, District Dhar, |
|
|
|
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Factory 6 : |
Plot No. 73, Taloja
Industrial Area, Village- Tongre, Taluka Panvel, District Raigad, |
DIRECTORS
AS ON 30.07.2012
|
Name : |
Mr. Prakash Harakchand Parakh |
|
Designation : |
Managing director |
|
Address : |
584/1, |
|
Date of Birth/Age : |
23.03.1956 |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
00337188 |
|
|
|
|
Name : |
Mr. Suresh Harakchand Parakh |
|
Designation : |
Managing director |
|
Address : |
584/1, |
|
Date of Birth/Age : |
15.04.1963 |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
00337190 |
|
|
|
|
Name : |
Mr. Mahavir Rikhabchand Dugad |
|
Designation : |
Whole-time director |
|
Address : |
208/ 5647, Anita Kutir Housing Society, Pant Nagar, Santacruz (East),
Mumbai – 400075, |
|
Date of Birth/Age : |
09.09.1972 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AAIPD4289Q |
|
DIN No.: |
02687353 |
|
|
|
|
Name : |
Mr. Mahendra Deepchand Lunawat |
|
Designation : |
Whole-time director |
|
Address : |
A/P, Shilphata Khopoli, Taluka Khalapur, Raigad, Shilphata – 410203, |
|
Date of Birth/Age : |
01.05.1965 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABHPL6961H |
|
DIN No.: |
02696183 |
|
|
|
|
Name : |
Mr. Vinay Ganpatrao Nalawade |
|
Designation : |
Director |
|
Address : |
3/TI Models Residency, |
|
Date of Birth/Age : |
20.10.1968 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABMPN6001B |
|
DIN No.: |
02696856 |
|
|
|
|
Name : |
Mr. Harshal Suresh parakh |
|
Designation : |
Director |
|
Address : |
584/1, Salisbury Park, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1988 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
05357867 |
KEY EXECUTIVES
|
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 |
|
Qualification : |
B.Com, D.T.L., F.C.S. |
|
Email ID : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Parakh Kesharchand Harakchand |
|
960000 |
|
Parakh Harakchand Prakash |
|
12219975 |
|
Parakh Harakchand Suresh |
|
11246650 |
|
Parakh Harakchand Patashibai |
|
960000 |
|
Parakh Prakash Asha |
|
5700000 |
|
Parakh Suresh Anju |
|
4800000 |
|
Parakh Suresh Harshal |
|
3496650 |
|
Parakh Suresh Mayank |
|
3496650 |
|
Parakh Prakash Akash |
|
5120075 |
|
Total |
|
48000000 |
AS ON 30.07.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Agro Based Product and Commodities. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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No. of Employees : |
1900 (Approximately) (In Office + In Factory) |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Bankers : |
v Corporation Bank, Aditi Commerce
Centre, Gen. Thimmayya Road Camp, Pune – 411001, Maharashtra, India v Bank of India, Corporate Banking
Branch, 1162/6, Shivaji Nagar, University Road, Pune – 411005, Maharashtra,
India v Axis Bank Limited, Daund Branch v Central Bank of v Bank of v Oriental Bank of Commerce v ICICI Bank v Kotak Mahindra Bank v HDFC Bank Limited |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Facilities : |
Notes: # Secured by Hypothecation of Fixed Assets of various plants. Loan carrying floating Interest @ 12.75% p.a. to 13.75% p.a. prevailing at the time of sanction loan. Loans are repayable in 1 to 6 years Secured by Hypothecation of respective vehicles. The Loans are retable in monthly installment along with interest from the date of loans. Loan carrying floating interest @ 12.75% p.a. to 13.75% p.a. prevailing at the time sanction loan. Loans are repayable in 1 to 6 years. * Other Foreign Loan payable of Rs.123.346 Millions carrying interest @ 3.75% / 360 Tg / days. Loans are repayable in 5 Years from the date of sanction in half yearly equal installment. Current Maturity of loan is (€ 483354.58 @ 67.8675) Rs.32.804 Millions * Other Rupee Loan payable of Rs.4.617 Millions carrying interest @ 9.50%. Loan is repayable in 4 years from the date of sanction in equal installment. Working Capital Loan of Rs.516.001 Millions Secured by Hypothecation of Stock and book debts, personal Guarantee by Directors, First Charge on Plant and Machinery of Company and Export Orders. |
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|
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Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
CIN
No.: U74999MH2008PLC182264
|
|
|
|
|
Auditors : |
|
|
Name : |
Shah Kahndelwal Jain and Associates Chartered Accountants |
|
Address : |
Level 3, Business Bay, Plot No. 84, Wellesley Road, Near Rto, Pune-411001, Maharashtra, India |
|
PAN
No.: |
AACFK3470E |
|
|
|
|
Associates : |
CIN
No.: U15412MP1995PLC009303
CIN
No.: U15142PN1993PLC071164
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
48000000 |
Equity Shares |
Rs.10/- each |
Rs.480.000
Millions |
|
|
|
|
|
Notes:
(i) Reconciliation of
the number of shares and amount outstanding at the beginning and at the end of
the reporting period:
|
Particulars |
Equity Shares |
|
|
|
As at 31 March, 2012 |
|
|
|
No. of Shares |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
48000000 |
480.000 |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
48000000 |
480.000 |
(ii) Details of shares
held by each shareholder holding more than 5% shares:
|
Class of shares /
Name of shareholder |
As at 31 March, 2012 |
|
|
|
Number of shares held |
% holding in that class of shares |
|
Parakh Harakchand K. |
- |
- |
|
Parakh Prakash Harakchand |
12219975 |
25.46% |
|
Parakh Suresh Harakchand |
11246650 |
23.43% |
|
Parakh Asha Prakash |
5700000 |
11.88% |
|
Parakh Anju Suresh |
4800000 |
10.00% |
|
Parakh Harshal Suresh |
3496650 |
7.28% |
|
Parakh Mayank Suresh |
3496650 |
7.28% |
|
Parakh Aakash Prakash |
5120075 |
10.67% |
|
Parakh Patasibai H |
- |
- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
480.000 |
480.000 |
480.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
513.039 |
388.281 |
420.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(116.748) |
|
|
NETWORTH |
993.039 |
868.281 |
783.252 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1053.150 |
740.239 |
1343.345 |
|
|
2] Unsecured Loans |
877.049 |
421.251 |
146.896 |
|
|
TOTAL BORROWING |
1930.199 |
1161.490 |
1490.241 |
|
|
DEFERRED TAX LIABILITIES |
198.849 |
199.852 |
191.385 |
|
|
|
|
|
|
|
|
TOTAL |
3122.087 |
2229.623 |
2464.878 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1948.543 |
1922.988 |
1712.862 |
|
|
Capital work-in-progress |
184.164 |
11.866 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.324 |
3.695 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
826.375
|
558.973
|
697.062
|
|
|
Sundry Debtors |
444.435
|
346.512
|
352.337
|
|
|
Cash & Bank Balances |
134.846
|
110.349
|
193.930
|
|
|
Other Current Assets |
268.229
|
197.080
|
67.048
|
|
|
Loans & Advances |
142.528
|
112.536
|
110.924
|
|
Total
Current Assets |
1816.413
|
1325.450
|
1421.301
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
401.490
|
369.222
|
608.855
|
|
|
Other Current Liabilities |
403.728
|
650.118
|
35.949
|
|
|
Provisions |
25.139
|
15.036
|
24.481
|
|
Total
Current Liabilities |
830.357
|
1034.376
|
669.285
|
|
|
Net Current Assets |
986.056
|
291.074
|
752.016
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3122.087 |
2229.623 |
2464.878 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9669.157 |
8241.778 |
6881.131 |
|
|
|
Other Income |
13.223 |
12.288 |
19.786 |
|
|
|
TOTAL |
9682.380 |
8254.066 |
6900.917 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
7818.141 |
6786.336 |
|
|
|
|
Purchases of stock-in-trade |
27.684 |
48.758 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(74.125) |
(60.286) |
|
|
|
|
Employee benefit expense |
151.404 |
129.719 |
|
|
|
|
Other expenses |
1216.723 |
941.800 |
|
|
|
|
TOTAL |
9139.827 |
7846.327 |
6491.641 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
542.553 |
407.739 |
409.276 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
238.854 |
174.702 |
142.949 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
303.699 |
233.037 |
266.327 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
178.050 |
157.593 |
136.128 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
125.649 |
75.444 |
130.199 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.891 |
(9.585) |
45.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
124.758 |
85.029 |
84.674 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(31.719) |
(116.748) |
(201.422) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
93.039 |
(31.719) |
(116.748) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.60 |
1.77 |
1.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.29
|
1.03
|
1.23
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.30
|
0.92
|
1.89
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.34
|
2.32
|
4.15
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.09
|
0.17
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.94
|
1.34
|
1.90
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
1.28
|
2.12
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
401.490 |
369.222 |
608.855 |
|
|
|
|
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
LONG TERM |
|
|
|
Term Loan – From Bank |
300.000 |
250.000 |
|
Loans and Advances from Directors |
4.205 |
126.732 |
|
|
|
|
|
SHORT TERM |
|
|
|
Rupee Term Loan – From Bank |
302.930 |
0.000 |
|
Foreign Currency Term Loan – From Others |
169.606 |
44.519 |
|
Loans Repayable on Demand – From Others |
100.308 |
0.000 |
|
Total |
877.049 |
421.251 |
|
Notes: Term Loan of Rs.302.930 Millions is payable within 180 Days from the date of sanction. |
||
BUSINESS OPERATIONS
AND FUTURE OUTLOOK
The performance of all factories located at various locations is quite satisfactory, and the Directors are confident to perform better in the years to come.
The Net Sales of the Company during the Year were Rs. 9669.200 Millions as against Rs.8241.800 Millions of the previous Year resulting in an increase of 17.32% approx. The Net Profit before Tax was also higher at Rs.124.800 Millions, as against Rs.85.000 Millions, of the previous Year resulting in an increase of 46.82% approx .
FIXED ASSETS
- Land
- Buildings
- Factory Building
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles Office Equipment
- Computer Equipments
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.52.97 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
44 |
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.