|
Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
AUCHTEL PRODUCTS LIMITED (w.e.f. 09.05.1997) |
|
|
|
|
Formerly Known
As : |
HENKEL CHEMICALS (INDIA) LIMITED (w.e.f. 1996) DIAMOND SHAMROCK (INDIA) LIMITED (w.e.f. 1973) NOPCO (INDIA) PRIVATE LIMITED |
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|
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Registered
Office : |
142/C, Victor House, N. M. Joshi Marg, Lower Parel, Mumbai – 400018,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.08.1965 |
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|
|
|
Com. Reg. No.: |
11-013303 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.036
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1965PLC013303 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20348G |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACH0975L |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer,
Exporter and Importer of Chemicals used in Textiles, Paper, Leather, Wire, Drawing,
Paint, Construction, Dyestuff, Oil Fields, Refinery, Agro/ Fertilizers. |
|
|
|
|
No. of Employees
: |
300
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 334000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established company having fine track. Trade
relations are reported as fair. Business is active. Payments are reported to
be correct and as per commitments. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Kunal |
|
Designation : |
Auditor |
|
Contact No.: |
91-22-24939755 |
LOCATIONS
|
Registered Office/ Corporate : |
142/C, Victor House, N. M. Joshi Marg, Lower Parel, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-24933975
(10 Lines) / 240632600 (100 Lines) |
|
Fax No.: |
91-22-24939755/
24974211/ 240632627/ 40632672 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
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Factory 1 : |
Plot No. A-85, A-86 / C-22, MIDC Industrial Estate, Dombivli (East),
Dist. Thane, |
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|
|
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Factory 2 : |
D-1, MIDC Estate,
Mirzole Industrial Estate, Ratnagiri – 415612, |
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Branches : |
Located at: ·
Mumbai ·
Ahmedabad ·
Chennai ·
·
·
Kolkata |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Rajiv Haridas Tandon |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
3/64, Vishnu Puri, Nawab Gunj, Kanpur – 208002, Uttar Pradesh, India |
|
Date of Birth/Age : |
05.08.1952 |
|
Date of Appointment : |
22.11.1988 |
|
DIN No.: |
00004772 |
|
|
|
|
Name : |
Mrs. Deepa Rajiv Tandon |
|
Designation : |
Director |
|
Address : |
3/64, Vishnu Puri, Nawab Gunj, Kanpur – 208002, Uttar Pradesh, India |
|
Date of Birth/Age : |
18.12.1957 |
|
Date of Appointment : |
09.05.1997 |
|
DIN No.: |
00004795 |
|
|
|
|
Name : |
Mr. Pradyumnakumar Kesarinath Rele |
|
Designation : |
Director |
|
Address : |
6/4 Sealord, B Building, Cuffe Parade, Mumbai – 400005, Maharashtra,
India |
|
Date of Birth/Age : |
13.06.1936 |
|
Date of Appointment : |
12.11.1999 |
|
Date of Ceasing : |
26.12.2011 |
|
DIN No.: |
00021003 |
KEY EXECUTIVES
|
Name : |
Mr. Kunal |
|
Designation : |
Auditor |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajiv Tandon |
|
37753 |
|
Rajiv Haridas Tandon- HUF |
|
1 |
|
Rajiv Tandon- HUF |
|
1 |
|
Haridas Tandon- HUF |
|
1 |
|
Premo Tandon- HUF |
|
1 |
|
Deepa Tandon |
|
1 |
|
Prateecha Tandon |
|
1 |
|
Prateek Tandon |
|
1 |
|
Auchlite Chemicals Private Limited, |
|
42600 |
|
|
|
|
|
Total |
|
80360 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
53.02 |
|
Directors or relatives of Directors |
|
46.98 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter and Importer of Chemicals used in Textiles, Paper, Leather, Wire,
Drawing, Paint, Construction, Dyestuff, Oil Fields, Refinery, Agro/
Fertilizers. |
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual Production |
|
|
|
|
|
Speciality Industrial chemicals |
(Tons) |
4990.00 |
|
Wire drawing Compounds |
(Tons) |
0.00 |
|
Leather Tanning Agents |
(Tons) |
1162.40 |
|
Oil and Well Chemicals |
(Tons) |
86.50 |
|
Ion Exchange
Resins |
(Cubic Meters) |
5204.60 |
GENERAL INFORMATION
|
Customers : |
· Apcotex Lattices Limited · Asian Paints Limited · P. R. Limited · Balkrishna Industries Limited · Ballarpur Industries Limited · Bayer India Limited · Berger Paints Limited · Bharat Petroleum Corporation Limited · Bharat Starch · Bhiwani Textile Mills · Birla VXL Limited · Century Denim · Century Enka Limited · Century Rayon · Kochi Refineries Limited · Deepak Fertilizer and Petrochemicals Corporation Limited · Department of Atomic Energy · East India Synthetics · Gharda Chemicals · Global Chemicals · Global Wool Alliance · Gujarat Agro Industries Corporation Limited · Gujarat Heay Chemicals · Gujarat State Fertilizers and Chemicals Limited · Hind Lever Chemicals Limited · Hind Petroleum Corporation Limited · India Polyfibres · Indian Oil Corporation Limited · Indian Rayon Industries Limited · ITC Limited. (Tribeni Tissues) · ITC Bhadrachallam Paper Boards Limited · JCT Group · Kesoram Rayon · Madras Refineries Limited · Mafatlal Dyes and Chemicals Limited · MBT India Private Limited · Maharashtra State Electricity Board · Malwa Cotton Spinning Mills Limited · Modern Terry Towels Limited · Nirmal Jal · Northern Tannery · N. R. Group of Paper Mills · N. R. C. Limited · Pashupati Spinning and Weaving Mills Limited · Pidilite Industries Limited · Rajdoot Paints Limited · Raymond Limited · Reliance Industries Limited · Reliance Petroleum Corporation Limited · Rohit Pulp and Paper Mills Limited · Shri Dinesh Mills · Sika Qualcrete · SIV Industries · Sinar Mas Pulp and Paper (India) Limited · Steel Authority of India Limited · Sudarshan Chemicals Limited · Tata Chemicals · Terenefibres Industries Private Limited · The Bombay Dyeing and Manufacturing Company Limited |
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No. of Employees : |
300 (Approximately) |
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|
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Bankers : |
· Bank of India4 · State Bank of India, Worli Branch · Bank of India, Fort Branch · Bank of Baroda, Worli Branch · Vijaya Bank, Worli Branch · ING Vysya Bank, Worli Branch · Saraswat Co-op Bank Limited, Fort, Mumbai-400001, Maharashtra, India · Saraswlat Co-Operative Bank Limited, Dr. D.B. Marg, Grand Road, Mumbai-400007, Maharashtra, India · Deutsche Bank (Asia) Tulsiani Chambers, Nariman, Mumbai – 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J N Sharma and Company Chartered Accountants |
|
Address : |
58/4, |
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PAN No.: |
AAAFJ6568N |
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|
|
|
Holding Company : |
· Auchlite Chemical Private Limited U24111UP1996PTC020834 |
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|
|
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Associates Company : |
· Upaasi Investment and finance Private Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
‘A’ Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
300000 |
‘B’ Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32144 |
‘A’ Equity Shares |
Rs. 100/-
each |
Rs. 3.214
Millions |
|
48216 |
‘B’ Equity Shares |
Rs. 100/-
each |
Rs. 4.822
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 8.036 Millions |
NOTES:
1)
Of the above 27388 ‘A’
Equity Shares and 41082 ‘B’ Equity Shares have been allotted as fully paid up
bonus shares by capitalization of reserves.
2)
47600 ‘B’ Equity Shares
are held by Auchlite Chemical Private Limited,
the holding company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.036 |
8.036 |
8.036 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
75.399 |
77.094 |
71.312 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
83.435 |
85.130 |
79.348 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
76.032 |
148.100 |
147.739 |
|
|
TOTAL BORROWING |
76.032 |
148.100 |
147.739 |
|
|
DEFERRED TAX LIABILITIES |
1.704 |
2.219 |
2.579 |
|
|
|
|
|
|
|
|
TOTAL |
161.171 |
235.449 |
229.666 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.526 |
21.071 |
17.831 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.666 |
98.251 |
14.734 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
77.136
|
54.822
|
65.276 |
|
|
Sundry Debtors |
222.509
|
193.932
|
143.978 |
|
|
Cash & Bank Balances |
57.360
|
57.159
|
108.065 |
|
|
Other Current Assets |
0.105
|
0.128
|
0.073 |
|
|
Loans & Advances |
67.643
|
54.912
|
54.950 |
|
Total
Current Assets |
424.753
|
360.953 |
372.342 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
252.780 |
209.652
|
143.643 |
|
|
Other Current Liabilities |
19.985
|
21.071
|
17.496 |
|
|
Provisions |
14.009
|
14.103
|
14.102 |
|
Total
Current Liabilities |
286.774
|
244.826
|
175.241 |
|
|
Net Current Assets |
137.979
|
116.127
|
197.101 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
161.171 |
235.449 |
229.666 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income From Operations |
765.108 |
613.009 |
594.827 |
|
|
|
Export Incentives |
2.491 |
4.571 |
2.605 |
|
|
|
Other Income |
7.917 |
8.135 |
31.109 |
|
|
|
TOTAL (A) |
775.516 |
625.715 |
628.541 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
511.241 |
339.521 |
391.500 |
|
|
|
Increase/ Decrease in Stocks |
(9.987) |
19.712 |
[12.844] |
|
|
|
Manufacturing and other expenses |
240.627 |
210.095 |
204.665 |
|
|
|
Bad Debts written off |
0.294 |
4.070 |
4.770 |
|
|
|
TOTAL (B) |
742.175 |
573.398 |
588.091 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
33.341 |
52.317 |
40.450 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.895 |
20.852 |
20.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.446 |
31.465 |
20.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.545 |
3.241 |
3.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.901 |
28.224 |
16.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.586 |
8.339 |
5.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.315 |
19.885 |
11.598 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
50.391 |
47.431 |
51.096 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.690 |
2.822 |
1.160 |
|
|
|
Interim and Final Dividend |
12.054 |
12.054 |
12.054 |
|
|
|
Tax on Interim and Final Dividend |
1.955 |
2.049 |
2.049 |
|
|
BALANCE CARRIED
TO THE B/S |
47.007 |
50.391 |
47.431 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
160.413 |
113.469 |
NA |
|
|
TOTAL EARNINGS |
160.413 |
113.469 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
136.076 |
59.963 |
NA |
|
|
TOTAL IMPORTS |
136.076 |
59.963 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
153 |
247 |
144 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1000.000 |
|
|
|
|
|
Expected Sales (2012-13): Rs.1000.000 Millions
The above information has been parted by Mr. Kunal.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.59
|
3.18
|
1.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.21
|
4.60
|
2.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.82
|
7.39
|
4.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.33
|
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.35
|
4.62
|
4.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
1.47
|
2.12 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS:
The company’s Sales turnover increased substantially during the year and
stood at Rs.856.150 Millions as against Rs.673.560 Millions in the previous
year. However, the increase in the raw materials, manufacturing and other
related costs resulted in lower profit after tax which stood at Rs.12.320
Millions as against Rs.19.880 Millions in the previous year.
The company continues to remain committed to its efforts for improving
its performance and is therefore confident of improving its overall profits,
rendering quality products and services to its customers and simultaneously
sustaining fair return to its stakeholders.
I] CONTINGENT
LIABILITIES NOT PROVIDED FOR, IN RESPECT OF:
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Claims by a customer against the company not acknowledged as debts |
0.310 |
0.310 |
|
Income tax matters disputed by the company/ Tax Authorities |
1.837 |
1.837 |
|
Excise Duty |
2.347 |
2.347 |
* Represents the original demand as intimated to the company by the
excise authorities. The direction given in the order date 11th April,
1996 passed by commissioner of Central Excise and customs in respect of
valuation of intermediate products captivity consumed during the period 1.4.85
to 31.12.87 are yet to be executed by the assessing offer and the company is
yet to receive intimation in this regard.
II] Bank Guarantee (secured against margin money deposits) outstanding
at the year-end comprise of performance guarantees customers aggregating
Rs.5.167 Millions (Previous year Rs.4.555 Millions)
FIXED ASSETS:
·
·
Building and Roads
·
Plant and Machinery
·
Research and Development
Machinery
·
Electrical Machinery and
Installation
·
Furniture, Fixture, Water
Coolers and Computer
·
Air Conditioners, Water
Cooler and Refrigerators
·
Laboratory and other
Equipments
·
Vehicles
·
Fire Extinguishers
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 records 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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
54 |
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.