|
Report Date : |
12.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SNOWMAN LOGISTICS LIMITED (w.e.f. 17.03.2011) |
|
|
|
|
Formerly Known
As : |
SNOWMAN FROZEN FOODS LIMITED |
|
|
|
|
Registered
Office : |
Sy. No. 36/1, Virgonagar, Old Madras Road, Bandapura Village,
Bidarehalli Hobli, Bangalore – 560 049, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.03.1993 |
|
|
|
|
Com. Reg. No.: |
08-48636 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1029.070
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15122KA1993PLC048636 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS03089C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS3514H |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Service provider of Cold Storage Transportation |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Reserves
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Sy. No. 36/1, Virgonagar, Old Madras Road, Bandapura Village,
Bidarehalli Hobli, Bangalore – 560 049, Karnataka, India |
|
Tel. No.: |
91-80-40250400 |
|
Fax No.: |
91-80-40250400 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 10.09.2012
|
Name : |
Mr. Prem Krishan Dass Gupta |
|
Designation : |
Director |
|
Address : |
94, Sainik Farm, Khanpur, |
|
Date of Birth/Age : |
22.02.1958 |
|
Qualification : |
B. Sc. |
|
Date of Appointment : |
22.11.2006 |
|
DIN No.: |
00011670 |
|
Name : |
Mr. Saroosh Cowasjee Dinshaw |
|
Designation : |
Director |
|
Address : |
Adenwalla Baug, |
|
Date of Birth/Age : |
11.08.1970 |
|
Qualification : |
B.Com, LLB, MBA |
|
Date of Appointment : |
22.11.2006 |
|
DIN No.: |
00034110 |
|
Name : |
Mr. Shabbir Hakimuddin Hassanbhai |
|
Designation : |
Director |
|
Address : |
36, |
|
Date of Birth/Age : |
10.11.1946 |
|
Qualification : |
Associate of Certified and Corporate accountants, |
|
Date of Appointment : |
22.11.2006 |
|
DIN No.: |
00268133 |
|
Name : |
Mr. Gopinath Pillai |
|
Designation : |
Director |
|
Address : |
67, HUA |
|
Date of Birth/Age : |
18.09.1937 |
|
Qualification : |
BA Graduate |
|
Date of Appointment : |
22.11.2006 |
|
DIN No.: |
00268337 |
|
Name : |
Mr. Keiichi Nakagaki |
|
Designation : |
Director |
|
Address : |
27, Golf Links, |
|
Date of Birth/Age : |
10.06.1952 |
|
Qualification : |
Bachelor of Economics |
|
Date of Appointment : |
27.05.2008 |
|
DIN No.: |
02165974 |
|
Name : |
Kannan Ravindran Naidu |
|
Designation : |
Director |
|
Address : |
003, SPRUCE, G Block, Rahija Koramangala, |
|
Date of Birth/Age : |
10.05.1959 |
|
Qualification : |
B. Com, MCA and Certification in Logistics from IIT |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02813755 |
KEY EXECUTIVES
|
Name : |
Mr. Sundar Mangadu Agaram |
|
Designation : |
Company Secretary |
|
Address : |
194, Panduranga Nagar, |
|
Date of Birth/Age : |
30.07.1962 |
|
Date of Appointment : |
16.10.2007 |
|
PAN No.: |
AABPS2314Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mitsubishi Corporation, |
|
15641000 |
|
Mitsubishi Logistics Corporation, |
|
3632000 |
|
Nichirei Logistics Corporation, |
|
7400000 |
|
Gateway Distriparks Limited, |
|
54711518 |
|
Prem Kishan Gupta (Jointly With Gateway Distriparks Limited, India) |
|
101 |
|
Laguna International Private Limited , |
|
952381 |
|
International Finance Corporation, |
|
20570000 |
|
Total |
|
102907000 |
As on 10.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
|
46.83 |
|
Bodies corporate |
|
53.17 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service provider of Cold Storage Transportation. |
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
· Axis Bank Limited, Unit No.6, Corporate Park, Sion Trombay Road, Chembur (East), Mumbai – 400 071, Maharashtra, India · Centurion Bank Limited, No. 102, Raheja Plaza, D’Souza Circle, 17, Commissariat Road, Bangalore – 560 025, Karnataka, India · Indusind Bank Limited, Dup Arc Trinity, West Wing, No.17, 1st Floor, M. G. Road, Bangalore- 560001, Karnataka, India ·
The Bank of Tokyo-Mitsuishi Limited, 563/2,
Anna Salai, Teynampet, Chennai – 600018, Tamilnadu, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
International
Finance Corporation, 2121, Pennsylvania Avenue NW, Washington DC, Washington
– 20433, United States of America |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
5th Floor, Tower D, The Millenia, 1 and 2 Murphy Road,
Ulsoor, Bangalore - 560 008, Karnataka, India |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Holding company: |
Gateway Distriparks Limited CIN No.: L74899MH1994PLC164024 |
|
|
|
|
Fellow Subsidiaries: |
·
Gateway East India Private Limited ·
Gateway Distriparks (South) Private Limited ·
Gateway Distriparks (Kerala) Limited ·
Gateway Rail Freight Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
102907000 |
Equity Shares |
Rs.10/- each |
Rs.1029.070
Millions |
|
|
|
|
|
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 |
1029.070 |
1029.070 |
1029.070 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
72.728 |
9.172 |
90.666 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(145.945) |
|
|
NETWORTH |
1101.798 |
1038.242 |
973.791 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
43.634 |
9.541 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1145.432 |
1047.783 |
973.791 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
743.603 |
573.347 |
298.890 |
|
|
Capital work-in-progress |
105.180 |
60.735 |
115.404 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.537
|
0.000 |
0.000 |
|
|
Sundry Debtors |
126.797
|
102.345
|
86.694
|
|
|
Cash & Bank Balances |
131.456
|
293.126
|
441.456
|
|
|
Other Non-Current Assets |
11.196
|
0.000
|
0.000
|
|
|
Other Current Assets |
1.261 |
0.000 |
0.000 |
|
|
Loans & Advances |
105.989
|
79.542
|
85.449
|
|
Total
Current Assets |
377.236
|
475.013
|
613.599
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.431
|
55.180
|
47.119
|
|
|
Other Current Liabilities |
37.315
|
4.700
|
5.177
|
|
|
Provisions |
3.841
|
1.432
|
1.806
|
|
Total
Current Liabilities |
80.587
|
61.312
|
54.102
|
|
|
Net Current Assets |
296.649
|
413.701
|
559.497
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1145.432 |
1047.783 |
973.791 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
613.956 |
|
|
|
Other Income |
|
|
28.014 |
|
|
|
TOTAL (A) |
|
|
641.970 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
|
|
3.873 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
|
|
(0.536) |
|
|
|
Employee benefit expense |
|
|
92.999 |
|
|
|
Expenditure on production, transportation and other expenditure pertaining to E&P activities |
|
|
316.420 |
|
|
|
Other expenses |
|
|
72.267 |
|
|
|
TOTAL (B) |
|
|
485.023 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
156.947 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.529 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
156.418 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
58.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
97.650 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
34.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
63.556 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
|
(81.493) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(17.937) |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
|
|
6.778 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
0.62 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Services |
|
451.661 |
345.699 |
|
|
|
Other Income |
|
24.239 |
23.325 |
|
|
|
TOTAL (A) |
|
475.900 |
369.024 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Services Rendered |
|
235.918 |
178.702 |
|
|
|
Employee Cost |
|
71.995 |
60.784 |
|
|
|
Administrative and Other Expenses |
|
53.730 |
51.618 |
|
|
|
TOTAL (B) |
|
361.643 |
291.104 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
114.257 |
77.920 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND
FINANCIAL EXPENSES (D) |
|
0.060 |
0.458 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
114.197 |
77.462 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
40.205 |
36.099 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
73.992 |
41.363 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
9.540 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
64.452 |
41.363 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(145.945) |
(187.309) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(81.493) |
(145.945) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.63 |
0.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.90
|
13.54
|
11.21
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.91
|
16.38
|
11.97
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.71
|
7.06
|
4.53
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.07
|
0.04
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.68
|
7.45
|
11.34
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
NOTE:
The company changed its registered office from Amalgam House,
The Registered Office has again shifted from Plot No. 276/5-1, 277/7,
Ezhupunna Village, Eramalloor (PO), Sherthala Taluk, Ezhupunna Village,
Alappuzha – 688 537, Kerala, India to No. 424, 4th Main, 6th
Cross, OMBR Layout, Banaswadi, Bangalore – 560 043, Karnataka, India w.e.f.
27.11.2008.
The Registered Office has again shifted from No. 424, 4th Main,
6th Cross, OMBR Layout, Banaswadi, Bangalore – 560 043, Karnataka,
India to the present address w.e.f. 28.01.2011.
PERFORMANCE
The Company, made a pre tax profit of Rs.97.650 Millions for the year 2011-12 against Rs.73.990 Millions for the previous year at a growth of 32%. However the post tax profit has remained flat at Rs.63.560 Millions as against Rs.64.450 Millions during the previous year. The reason for this being the recognition of deferred tax during the year.
The Gross Revenue of the company from Freezer Division and Transportation divisions increased by 36% and 38% respectively during the year.
In case of Freezer Division, the new warehouse at Mumbai (3,000 pallets) has commenced operations and has already achieved 100% occupancy levels. Year 2012-13 is projected to be the year of expansion. The warehousing capacity is projected to increase from 18,180 as on 31st March 2012 to 46,340 by 31st March 2013. Construction in this regard is already underway at the various locations. The expansion is being funded through term loans from HDFC (Rs.500.000 Millions) and IFC (Rs.300.000 Millions) as well as internal accruals. While the impact of the expansion on the financials in 2012-13 will be only marginal, we are confident that all the expanded capacities will function at 100% occupancy during the year 2013-14.
The other verticals namely transportation and consignment agency have also shown healthy growth figures.
FORM 8
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U15122KA1993PLC048636 |
|
Name of the company |
SNOWMAN FROZEN FOODS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Sy. No. 36/1, Virgonagar, Old Madras Road, Bandapura Village, Bidarehalli Hobli, Bangalore – 560 049, Karnataka, India E-Mail Id : sundar@snowman.in |
|
Type of charge |
· Book debts · Movable Properties · Others (Current Assets other than book debts) · Goodwill · Patent, license under a patent · Trademark · Copyright or license under a copyright |
|
Particular of charge holder |
International Finance Corporation, 2121, Pennsylvania Avenue NW, Washington DC, Washington – 20433, United States of America E-Mail Id : CSA-Portfolio@ifc.org |
|
Nature of description of the instrument creating or modifying the charge |
Unattested Memorandum of Hypothecation |
|
Date of instrument Creating the charge |
20.12.2012 |
|
Amount secured by the charge |
Rs.300.000 Millions |
|
Brief particulars of the principal terms an conditions and extent and operation of the charge |
Rate of interest 4% Over Six-Month USD LIBOR subject to adjustments as per the loan agreement. Terms of repayment Twelve (12) equal installments payable on the Interest Payment Dates, with the first repayment falling due on the Interest Payment Date falling immediately after the second anniversary of the first Disbursement as per the loan agreement. Margin None Extent and operation of the charge Pari passu first ranking charge over Movable Fixed Assets, Stocks, Book Debts, Intangible assets of the Company. |
|
Short particulars of the property charged |
The entire movable plant, machinery and equipment, including all the spares and all other movable assets such as furniture, fixtures, fittings, installations, vehicles, office equipment, computers and all. other fixed assets of the Company both present and Future, belonging or hereafter belonging to or at the disposal of the Company more specified in Clause 3 of the Deed. All of the Company's present and Future stock in-trade, raw materials, spares consumable stores, semi finished goods, goods in process of manufacturing, finished and manufactured goods and all the other merchandise belonging to or at the disposal of the Company more specified in Clause 3 of the Deed. All of the Company's present and Future book debts, outstanding monies, receivables, claims, bills, cash in hand, investments, at the disposal of the Company more specified in Clause 3 of the Deed. All of the Company's present and Future book debts, outstanding monies, receivables, claims, bills, cash in hand, investments, securities, contracts, claims in action, rights to or in movable properties and movable assets forming part of current assets which are now due and owing or payable or belonging to the company more specified in Clause 3 of the Deed. All intangible assets of the Company both present and future, including all intellectual Property("Intangible Assets") . |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computer Equipment
·
Furniture and Fixtures
·
Office Equipments
·
Motor Vehicles
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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report Prepared by
: |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
30 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.