MIRA
INFORM REPORT
|
Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
FINE ORGANIC INDUSTRIES PRIVATE LIMITED [w.e.f. 16.02.2009] OLEOFINE ORGANICS (INDIA) PRIVATE LIMITED – AMALGAMATED WITH FINE
ORGANIC INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
FINE ORGANIC INDUSTRIES (MUMBAI) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Fine House, M.G. Road, Ghatkoper (East), Mumbai-400077,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
24.05.2002 |
|
|
|
|
Com. Reg. No.: |
11-136003 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119MH2002PTC136003 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Chemicals. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
management has failed to file its financial since 2010. The external
borrowings of the company appears to be huge. However, trade relations are reported to be fair. Business is active.
Payments are unknown. The company can be considered for business dealings on a safe and
secured 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 |
CRISIL |
|
Rating |
A3 + [Letter of Credit] |
|
Rating Explanation |
Crisil has suspended its rating of Crisil A3 + due to lack of
information. |
|
Date |
November 2012 |
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. Vijay |
|
Designation : |
Senior Executive |
|
Contact No.: |
91-22-21025000 |
|
Date : |
18.02.2013 |
LOCATIONS
|
Registered / Head Office : |
Fine House, M.G. Road, Ghatkoper (East), Mumbai-400077, Maharashtra,
India |
|
Tel. No.: |
91-22-21025000/21028899/20126666/25093400/1/2/3/4/5/6/7/8/9/10/11 |
|
Fax No.: |
91-22-25162276/25153215 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Jayen Ramesh Shah |
|
Designation : |
Director |
|
Address : |
1002,
Indraprastha Building, Rajawadi, Ghatkopar East, Mumbai-400077, Maharashtra,
India |
|
Date of Appointment : |
24.05.2002 |
|
DIN No.: |
00106919 |
|
|
|
|
Name : |
Mr. Tushar Ramesh Shah |
|
Designation : |
Director |
|
Address : |
1104,
Indraprastha Building, Rajawadi, Ghatkopar East, Mumbai-400077, Maharashtra,
India |
|
Date of Appointment : |
24.05.2002 |
|
DIN No.: |
00107144 |
|
|
|
|
Name : |
Mr. Mukesh Maganlal Shah |
|
Designation : |
Director |
|
Address : |
1003,
Indraprastha Building, Rajawadi, Ghatkopar East, Mumbai-400077, Maharashtra,
India |
|
Date of Appointment : |
24.05.2002 |
|
DIN No.: |
00106799 |
|
|
|
|
Name : |
Mr. Prakash Damodar Kamat |
|
Designation : |
Director |
|
Address : |
Neelkanth Tirth
Co-operative Housing Society, Bungalow No.3, Road No. 6, Chembur,
Mumbai-400071, Maharashtra, India |
|
Date of Appointment : |
24.05.2002 |
|
DIN No.: |
00107015 |
|
|
|
|
Name : |
Ms. Bimal Mukesh Shah |
|
Designation : |
Additional director |
|
Address : |
1003,
Indraprastha Building, Rajawadi, Ghatkopar East, Mumbai-400077, Maharashtra,
India |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03424880 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay |
|
Designation : |
Senior Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Maganlal Shah |
|
807884 |
|
Jayen Ramesh Shah |
|
807308 |
|
Prakash Damodar Kamat |
|
941350 |
|
Tushar Ramesh Shah |
|
859572 |
|
Smoothex Chemicals Pvt.Ltd. |
|
1142 |
|
Jyotsna Ramesh Shah |
|
922479 |
|
Jayshree Mukesh Shah |
|
80600 |
|
Bimal Mukesh Shah |
|
52300 |
|
Neeta Jayen Shah |
|
80600 |
|
Shailee Jayen Shah |
|
12000 |
|
Manali Jayen Shah |
|
12000 |
|
Bina Tushar Shah |
|
52300 |
|
Rhea Tushar Shah |
|
17000 |
|
Esha Tushar Shah |
|
17000 |
|
Miti Jitendra Gandhi |
|
571 |
|
Harsha Jitendra Gandhi |
|
567 |
|
Jayantilal P. Gandhi (HUF) |
|
5 |
|
Muktaben Jitendra Gandhi |
|
5 |
|
Vaibhav Jitendra Gandhi |
|
5 |
|
Heman V. Mehta |
|
5 |
|
Bina Vinod Mehta |
|
5 |
|
Jayen R. Shah HUF |
|
50945 |
|
Tushar R. Shah HUF |
|
16985 |
|
Mukesh M. Shah HUF |
|
23211 |
|
Prakash D. Kamat HUF |
|
22645 |
|
V D Mehta HUF |
|
5 |
|
R M Shah HUF |
|
51507 |
|
|
|
|
|
TOTAL |
|
4829996 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.02 |
|
Directors
or relatives of directors |
|
99.96 |
|
Other
top fifty shareholders |
|
0.02 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Chemicals. |
PRODUCTION STATUS [AS ON 31.03.2010]
|
Installed
Capacity |
25000 Tons Phase
I |
|
|
5000 Tons Phase
II – Line I |
|
|
5000 Tons Phase
II – Line II |
PRODUCTION:
|
Particular |
Production Qty. Tons |
|
Finalux G-161 |
183.59 |
|
N.B. Stearate |
148.36 |
|
SMS (Flakes & Powder) |
195.98 |
|
Calcium
Propionate (Agglomerated) |
356.40 |
|
GMS Powder & Flakes |
3515.29 |
|
Glyceryl Di-Ricinoleate |
0.13 |
|
Fynol - 40 |
178.51 |
|
Fineset - 35 |
119.10 |
|
Finamul - P - 4107 |
175.36 |
|
Finamul - 97 |
1018.52 |
|
Gemesol |
138.43 |
|
Finawax - VL |
104.68 |
|
Finawax - SE
(Powder & Beads) |
168.55 |
|
Finawax - O
(Beads & Microbeads) |
990.13 |
|
Finawax - E
(Beads & Microbeads) |
1936.44 |
|
Finawax - C
(Beads & Fine Powder) |
827.02 |
|
GMS 40 |
75.90 |
|
Finanox - 18 |
162.32 |
|
Finamul - VR - 42 |
222.22 |
|
Finamul – 9750 |
368.96 |
|
Finamul - 1909 |
137.29 |
|
Rubaid - 222 |
80.68 |
|
Finalux - G - 9180 |
122.40 |
|
Finalux - G - 9020 |
128.33 |
|
Finalux - G - 748 |
108.25 |
|
Finalux - G - 741 |
140.70 |
|
Finalux - G - 701 |
281.33 |
|
Finalux - G - 605 |
151.12 |
|
Finalux - G - 602 |
121.18 |
|
Sorbiton Tri Stearate (STS) |
67.66 |
|
Plastaid - GR - 943 |
89.11 |
|
Plastaid - 440 |
87.78 |
|
HMGL Liquid |
83.56 |
|
Finoleic - 70 |
117.27 |
|
Finastat - STIMP |
74.05 |
|
Finamul - PGE
(Powder & Flakes) |
98.28 |
|
Finamul – 90 |
55.08 |
|
Finamul - 87 |
63.91 |
|
Finalux - G - 322 |
73.63 |
|
Finalux - G - 321 |
43.58 |
|
Finalux - G3 |
111.25 |
|
Finalux - G171 |
55.78 |
|
Finalux - G101 |
79.03 |
|
Finagel |
77.59 |
NOTE: The installed capacity
is as certified by technical director and being a technical matter is relied
upon by Auditors.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
·
Union Bank of India, Ghatkopar (East) Branch,
Silver Court, 1st Floor, M.G. Road, Ghatkopar (East), Mumbai –
400077, Maharashtra, India ·
Citi Bank N.A. Trent House, 2nd Floor, G Block,
Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra,
India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D B Shah and Associates Chartered Accountants |
|
Address : |
310, D S Trade Centre, Kirol Road Vidyavihar West Mumbai - 400086
Maharashtra India |
|
PAN No: |
AACPS9152R |
|
|
|
|
Other Related Parties : |
·
Oleofine Organics (India) Private Limited ·
Fine Organic Industries ·
Fine Speciality Surfuctants Private Limited ·
Fine Research and Development Centre Private
Limited ·
Smoothex Chemicals Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5100000 |
Equity Shares |
Rs.10/- each |
Rs.51.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4829996 |
Equity Shares |
Rs.10/- each
|
Rs.48.300
Millions |
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1999995 |
Equity Share |
Rs.10/- each |
Rs.20.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.000 |
20.000 |
1.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
92.739 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(66.778) |
(57.965) |
|
|
NETWORTH |
112.739 |
(46.778) |
(56.865) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
528.397 |
574.866 |
415.245 |
|
|
2] Unsecured Loans |
447.214 |
331.359 |
272.949 |
|
|
TOTAL BORROWING |
975.611 |
906.225 |
688.194 |
|
|
DEFERRED TAX LIABILITIES |
6.726 |
0.000 |
11.125 |
|
|
|
|
|
|
|
|
TOTAL |
1095.076 |
859.447 |
642.454 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
628.670 |
561.977 |
269.489 |
|
|
Capital work-in-progress |
0.200 |
0.000 |
224.793 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
220.842
|
159.660 |
140.660 |
|
|
Sundry Debtors |
215.433
|
109.558 |
81.432 |
|
|
Cash & Bank Balances |
213.696
|
34.159 |
6.244 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
156.100
|
96.674 |
85.415 |
|
Total
Current Assets |
806.071
|
400.051 |
313.751 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
231.664
|
82.022 |
147.386 |
|
|
Other Current Liabilities |
12.493
|
19.924 |
17.516 |
|
|
Provisions |
95.708
|
0.807 |
0.707 |
|
Total
Current Liabilities |
339.865
|
102.753 |
165.609 |
|
|
Net Current Assets |
466.206
|
297.298 |
148.142 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.172 |
0.030 |
|
|
|
|
|
|
|
|
TOTAL |
1095.076 |
859.447 |
642.454 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1593.781 |
1068.020 |
682.691 |
|
|
|
Other Income |
101.779 |
77.541 |
2.089 |
|
|
|
TOTAL
(A) |
1695.560 |
1145.561 |
684.780 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cast of materials |
|
758.676 |
487.615 |
|
|
|
Manufacturing and Other Expenses |
|
203.654 |
155.982 |
|
|
|
Variation in stock |
|
5.419 |
(13.611) |
|
|
|
TOTAL (B) |
1435.123 (Including
Financial and Depreciation) |
967.749 |
629.986 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
177.812 |
54.794 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
137.282 |
50.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
|
40.530 |
3.947 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
65.883 |
45.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
260.437 |
(25.353) |
(41.481) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
54.276 |
(16.540) |
(2.823) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
206.161 |
(8.813) |
(38.658) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(66.778) |
(57.965) |
(19.307) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
139.383 |
(66.778) |
(57.965) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
956.873 |
443.931 |
166.806 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
190.348 |
222.978 |
106.589 |
|
|
|
Laboratory |
1.550 |
0.000 |
0.000 |
|
|
|
Plant and Machinery |
3.141 |
6.177 |
0.000 |
|
|
TOTAL IMPORTS |
195.039 |
229.155 |
106.589 |
|
|
|
|
|
|
|
|
|
|
Earnings/
(Loss) Per Share (Rs.) |
103.08 |
(88.13) |
(35.14) |
|
%20PRIVATE%20LIMITED%20-%20AMALGAMATED%20WITH%20FINE%20ORGANIC%20INDUSTRIES%20PRIVATE%20LIMITED%20-%20211342%2020-Feb-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
12.16 |
(0.77) |
(5.65) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.34 |
(2.37) |
(6.08) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.15 |
(2.64) |
(7.11) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.31 |
(0.54) |
(0.73) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
8.65 |
(19.37) |
(12.10) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.37 |
3.97 |
1.89 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
For Goods and
Services |
219.762 |
72.560 |
133.910 |
|
For Statutory
Liability |
11.902 |
9.462 |
13.476 |
|
TOTAL |
231.664 |
82.022 |
147.386 |
|
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 |
-- |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
Unsecured Loan |
As
on 31.03.2010 [Rs.
in Millions] |
As
on 31.03.2009 [Rs.
in Millions] |
|
From Directors |
249.216 |
187.569 |
|
From Shareholders |
197.998 |
143.790 |
|
TOTAL
|
447.214 |
331.359 |
FIXED ASSETS:
·
Factory Land
·
Factory Building
·
Plant and Machinery- Mechanical
·
Plant and Machinery
·
Furniture and Fixture
·
Automobiles
·
Air-Conditioner
·
Computer System
·
Office 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.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
18 |
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.