MIRA
INFORM REPORT
|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAJASTHAN ANTIBIOTICS LIMITED (w.e.f. 06.03.1989) |
|
|
|
|
Formerly Known
As : |
CEPHAM MEDICAL LIMITED CEPHAM MEDICAL LEASING LIMITED |
|
|
|
|
Registered
Office : |
M-134, Connaught Circus, New Delhi – 110001 |
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
17.03.1986 |
|
|
|
|
Com. Reg. No.: |
55-023616 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.52.758
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231DL1986PLC023616 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR11698B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR0925L |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in Manufacturing of Bulk Drugs and Manufacturing
cum Trading of Milk and Herbal Products. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 920000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established company having a satisfactory track record.
The latest financials re not made available with the government department. As per previous year’s, the performance of the company appears to be
high. Financially company seems to be strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitments. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- |
|
Rating Explanation |
Crisil has suspended its rating due to lack
of information. |
|
Date |
October, 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.
LOCATIONS
|
Registered Office : |
M-134, Connaught Circus, New Delhi – 110001, India |
|
Tel. No.: |
91-11-43561740/ 41/ 42/ 47666106/ 47666111/ 26616318 |
|
Fax No.: |
91-11-43561743 |
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E-Mail : |
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|
Website : |
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|
|
Corporate Office : |
M-39, Connaught Circus, New Delhi – 110001, India |
|
|
|
|
Factory : |
Plot A-619 and 630, RICO Industrial Area, Bhiwadi – 301019, District Alwar,
Rajasthan, India |
|
Tel No.: |
91-1493-222278/ 512251/ 512378 |
DIRECTORS
(AS ON 20.09.2012)
|
Name : |
Mr. Ashish Pruthi |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
M – 255, Greater Kailash – II, |
|
Date of Birth/Age : |
19.08.1976 |
|
Date of Appointment : |
01.04.2010 |
|
PAN No : |
AMIPP4490P |
|
DIN No : |
01182469 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Rakesh Kumar Girdhar |
|
Designation : |
Director |
|
Address : |
D-15/4, First Floor, |
|
Date of Birth/Age : |
30.11.1962 |
|
Date of Appointment : |
01.11.2008 |
|
DIN No.: |
02380490 |
|
|
|
|
Name : |
Mr. Gian Chand Sharma |
|
Designation : |
Director |
|
Address : |
Village and Post Office Gandhir Bilaspur – 174029, Himachal Pradesh,
India |
|
Date of Birth/Age : |
20.09.1969 |
|
Date of Appointment : |
12.09.2011 |
|
DIN No : |
00549491 |
KEY EXECUTIVES
|
Name : |
Mr. Vipul Garg |
|
Designation : |
Company Secretary |
|
Address : |
88/3, Near |
|
Date of Birth/Age : |
23.08.1987 |
|
Date of Appointment : |
06.09.2010 |
|
PAN No : |
ANIPG113B |
MAJOR SHAREHOLDERS/ SHAREHOLDING PATTERN
(AS ON 20.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Arviv Lifesciences Private Limited, |
|
1344684 |
|
Ashish Pruthi |
|
900 |
|
Radhika Pruthi |
|
500 |
|
Manvin Heath Private Limited, |
|
1343184 |
|
Barfani Baba Pharma Private Limited, |
|
2583397 |
|
Ashish Prutyhi and Sons (HUF) |
|
100 |
|
Meera Pruthi |
|
3000 |
|
|
|
|
|
Total |
|
5275765 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.91 |
|
Directors or relatives of directors |
|
0.09 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Bulk Drugs and manufacturing
cum trading of Milk and Herbal Products. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Industrial Development Bank of India Jeevan Nidhi Building, LIC Complex, Ambedkar Circle, Bhawani Singh
Road, Jaipur – 302 001, Rajasthan, India · HDFC Bank Limited · State Bank of Bikaner and Jaipur 16/67-68, Faiz Road, Karol Bagh, New Delhi – 110005, India · State Bank of Hyderabad Flat No.110, Suryakiran Building, 19 KG Marg, New Delhi – 110 001, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J. P. Chawla and Company Chartered Accountants |
|
Address : |
43, Dariya Ganj, |
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PAN No.: |
AAAFJ1213J |
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|
|
|
Other Related
Parties : |
·
Cepham Milk Specialities Limited CIN No.: L15203PB1991PLC019162 ·
Cebon India Limited CIN No.: U24232HR1988PLC030362 ·
Cepham Laboratories Limited CIN No.: U24230DL1977PLC008694 ·
Cepham Organics Limited CIN No.: U24239DL1984PLC018500 ·
Amos Biosciences Private Limited CIN No.: U52310DL2009PTC189924 ·
Arviv Life Sciences Private Limited CIN No.: U52100DL2009PTC194061 ·
Manvin Health Private Limited CIN No.: U52300DL2009PTC189964 ·
Barfani Baba Pharma Private Limited CIN No.: U52602DL2009PTC192681 ·
Revivaa Biotech Private Limited CIN No.: U52100DL2010PTC201633 ·
Cepham Agencies Private Limited CIN No.: U24232DL1983PTC015187 ·
D.P. Towers Private Limited CIN No.: U45201DL1987PTC027884 |
CAPITAL STRUCTURE
(AS ON 20.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
600000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.60.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5275765 |
Equity Shares |
Rs.10/- each |
Rs.52.758
Millions |
|
|
|
|
|
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 |
52.758 |
52.758 |
47.758 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
177.484 |
114.842 |
48.736 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
230.242 |
167.600 |
96.494 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
5.123 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
5.123 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.042 |
|
|
|
|
|
|
|
|
TOTAL |
230.242 |
172.723 |
96.536 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
102.069 |
80.427 |
67.155 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
1.536 |
0.479 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
67.564
|
66.713
|
26.300 |
|
|
Sundry Debtors |
103.874
|
87.596
|
51.371 |
|
|
Cash & Bank Balances |
33.501
|
16.632
|
15.236 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
80.746
|
47.832
|
21.030 |
|
Total
Current Assets |
285.685
|
218.773
|
113.937 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.486
|
24.120
|
26.247 |
|
|
Other Current Liabilities |
79.008
|
65.934
|
46.915 |
|
|
Provisions |
53.554
|
36.902
|
11.394 |
|
Total
Current Liabilities |
159.048
|
126.956
|
84.556 |
|
|
Net Current Assets |
126.637
|
91.817
|
29.381 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
230.242 |
172.723 |
96.536 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
784.657 |
553.955 |
229.295 |
|
|
|
Other Income |
2.650 |
4.215 |
1.460 |
|
|
|
TOTAL (A) |
787.307 |
558.170 |
230.755 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changed Inventories |
532.874 |
333.321 |
|
|
|
|
Manufacturing Services costs |
81.152 |
80.387 |
|
|
|
|
Employee Related Expenses |
16.306 |
13.264 |
|
|
|
|
Administrative, Selling and Other Expenses |
40.884 |
47.273 |
|
|
|
|
Research Development Expenditure |
18.267 |
2.703 |
|
|
|
|
Prior Period Items |
0.871 |
0.169 |
|
|
|
|
TOTAL (B) |
690.354 |
477.117 |
203.971 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
96.953 |
81.053 |
26.784 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.844 |
2.357 |
0.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
92.109 |
78.696 |
26.399 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.367 |
7.603 |
6.774 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
83.742 |
71.093 |
19.625 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.222 |
24.987 |
5.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
62.520 |
46.106 |
13.790 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
72.492 |
26.386 |
12.596 |
|
|
|
|
|
|
|
|
|
|
AMOUNT AVAILABLE
APPROPRIATIONS |
0.122 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
135.134 |
72.492 |
26.386 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
124.224 |
118.397 |
35.337 |
|
|
TOTAL EARNINGS |
124.224 |
118.397 |
35.337 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Goods for processing / Resale |
NA |
128.158 |
3.560 |
|
|
TOTAL IMPORTS |
NA |
128.158 |
3.560 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.85 |
8.74 |
2.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.94
|
8.26
|
5.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.67
|
12.83
|
8.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.60
|
23.76
|
10.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.42
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.03
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.72
|
1.35 |
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 |
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] |
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 REGARDING MANAGEMENT DISCUSSION AND ANALYSIS
The company has
recorded sales revenue and other income of Rs.808.900 Millions against
Rs.555.100 Millions in the previous year. It represents a growth of 46% over
preceding year. Further the company has registered an export of Rs.124.200
Millions as compared to Rs.118.400 Millions in the previous year. The
Management’s aggressive strategy of focusing on improving business and
operational performance has borne fruits. The operations of the company are
steadily improving and company is looking forward to healthy revenue and
numbers profit in the coming years. The company earned Profit before tax of Rs.84.600
Millions against Rs.71.300 Millions earned in the previous financial year
showing an increase of 13.300 Millions. After providing for taxation of
Rs.22.300 Millions (previous year Rs. 25.500 Millions), net profit worked out
to Rs.62.500 Millions as compared to Rs.46.100 Millions in the previous year
registering an increase of Rs.16.400 Millions and representing a growth of 36%
over the preceding year. The company is steadily moving on high growth
trajectory and shall continue its journey of profitable growth.
CONTINGENT
LIABILITIES: (AS ON 31.03.2011)
The Company has
given a corporate guarantee amounting to Rs. NIL
The Company has
executed a B-1 Bond for Rs.10.000 Millions in favor of Central Excise Range III
Dhaba Complex Bhiwadi, Rajasthan.
The Company has
given margin money against Bank Guarantee of Rs.0.162 Million to the Excise and
Taxation Commissioner of Derabassi.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10174483 |
|
Corporate
identity number of the company |
U24231DL1986PLC023616 |
|
Name of the
company |
RAJASTHAN
ANTIBIOTICS LTD |
|
Address of the
registered office or of the principal place of business in |
M- 134, Connaught
Circus, New Delhi – 110001, India |
|
Type of charge |
Immovable property Book Debts Movable Property Floating Charge Others: Entire current assets including all kinds of stock |
|
Particular of
charge holder |
State Bank of
Bikaner & Jaipur 16/67-68, Faiz
Road, Karol Bagh, New Delhi – 110005, India |
|
Nature of description
of the instrument creating or modifying the charge |
1. Joint deed of
Hypothecation (Form CF-2) 2. Working
Capital Consortium Agreement 3. Deed of
Hypothecation of movable assets forming part of fixed/block assets 4. Annexure 10
for creation of Equitable Mortgage |
|
Date of
instrument Creating the charge |
21/01/2013 |
|
Amount secured by
the charge |
Rs.318.800
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest On CC - 4.00%
above base rate i.e. 14.25% (floating) p.a. On Term Loan-I:
5.50% above base rate i.e. 15.75% (floating) p.a. On Term Loan-II:
4.50% above base rate i.e. 14.75% (floating) p.a. Terms of
Repayment CC-Payable on
demand Term Loan-I:
repayable in 12 equal quarterly installments w.e.f. April 2012 Term Loan-II:
repayable in 12 equal quarterly installments w.e.f. December 2013 Margin On CC :
Stock-25%, Book Debts-45% On Term Loan-I:
41.67% On Term Loan-II:
34.93% Extent and
Operation of the charge 100% Others This is to secure
various fund based and non fund based limits aggregating Rs.318.800 Millions
in consortium. |
|
Short particulars
of the property charged |
Working capital facilities
aggregating Rs.200.000 Millions are secured by First pari passu charge by way
of hypothecation of entire current assets of the company including raw
materials, finished goods, semi finished goods, stores and spares and book
debts and other current assets and 2nd pari-passu charge on entire fixed
assets of the company (present and future) including equitable mortgage of
land and building situated at plot no. A-619 and 630, RIICO Industrial Area,
Distt. Alwar, Bhiwadi (Rajasthan) – 301019. Term Loans
aggregating Rs.118.800 Millions are secured by first pari passu charge on
entire fixed assets of the company including plant and machinery (both
present and future) and other fixed assets (both present and future)
including Plant and Machinery and other equipments procured out of Bank's
Term Loans and equitable mortgage of land and building situated at Plot No.
A-619 and 630, RIICO Industrial Area, District Alwar, Bhiwadi (Rajasthan) -301019 present
and future on first pari-passu charge basis with SBH. Term loans are
also secured by 2nd pari-passu charge on entire current assets of the
company. Above mentioned
securities are also covers the working capital facilities aggregating
Rs.200.000 Millions granted to the company by the consortium member banks as
collateral. |
|
Date of latest
modification prior to the present modification |
14/09/2011 |
|
Particulars of
the present modification |
First Pari-passu
charge has been extended for the credit facilities granted to the company from
Rs.251.100 Millions to Rs.318.800 Millions on entire current assets of the
company including Raw Material, Finished goods, semi-finished goods, store
and spares and Book debts and entire fixed assets including Plant and
Machinery, present and future and Equitable Mortgage of immovable property of
the company as collateral. Other Terms and
Conditions remain the same. |
FIXED ASSETS:
· Land
·
· Plant and Machinery
· Furniture and Fixture
· Office Equipment
· Data Processing Machine
· 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 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.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.