MIRA
INFORM REPORT
|
Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIDDHARTH COLORCHEM LIMITED |
|
|
|
|
Formerly Known
As : |
SIDDHARTH COLORCHEM PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
121, Atlanta, Nariman Point, Mumbai-400021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
12.03.1987 |
|
|
|
|
Com. Reg. No.: |
11-042868 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 14.250 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1987PLC042868 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Dyes Color Additives, Chemicals And Insecticides
Pesticides. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 830000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. There appears some dip in the sales turnover and profit of the company
during 2012. However, trade relations are reported as fair. Business is active. Payment
terms are reported as slow but correct. The company can be considered 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB- (Long term rating) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
08.10.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Short term rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
08.10.2012 |
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 PARTED BY
|
Name : |
Mr. Chaturvedi |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-22840293 |
LOCATIONS
|
Registered Office : |
121, Atlanta, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Tel. No.: |
91-22-22840293 / 22045986 / 22840243 |
|
Fax No.: |
91-22-22029146 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
3500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Located Mahad, Dist Raigad, Maharashtra, India |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Manish Surendra Kedia |
|
Designation : |
Director |
|
Address : |
71, Kedia Apartment, 29F, Doongersy Road, Wlakeshwar, Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
30.11.1966 |
|
Date of Appointment : |
14.10.1996 |
|
DIN No.: |
00759182 |
|
|
|
|
Name : |
Mr. Vinod Singhania |
|
Designation : |
Director |
|
Address : |
Shree Vardhan Housing society Limited, 95/B, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
06.03.1957 |
|
Date of Appointment : |
12.03.1987 |
|
DIN No.: |
00759292 |
|
|
|
|
Name : |
Mr. Siddharth Singhania |
|
Designation : |
Director |
|
Address : |
Shree Vardhan Housing society Limited, 95/B, Bhulabhai Desai Road,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1982 |
|
Date of Appointment : |
13.03.2003 |
|
DIN No.: |
01549748 |
|
|
|
|
Name : |
Mr. Shivang R Singhania |
|
Designation : |
Director |
|
Address : |
Shree Vardhan Housing society Limited, 95/B, Bhulabhai Desai Road,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1992 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
03108833 |
|
|
|
|
Name : |
Mr. Devang Rajesh Singhania |
|
Designation : |
Director |
|
Address : |
Shree Vardhan
Housing society Limited, 95/B, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Appointment : |
17.08.2012 |
|
DIN No.: |
05357146 |
KEY EXECUTIVES
|
Name : |
Mr. Chaturvedi |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vinod Singhania |
|
22560 |
|
Phuldevi Singhania |
|
8400 |
|
Manish Kedia |
|
10 |
|
Ravi Dyeware Company Limited, India |
|
52000 |
|
Vinod Singhania (Karta of HUF) |
|
1600 |
|
Abha Singhania |
|
25000 |
|
Namrata Singhania |
|
21500 |
|
Siddharth Singhania |
|
11430 |
|
Total |
|
142500 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
Bodies corporate |
36.49 |
|
Directors or relatives of Directors |
63.51 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Dyes Color Additives, Chemicals And Insecticides
Pesticides. |
|
|
|
|
Exports : |
|
|
Products : |
·
Dyes Color Additives ·
Chemicals ·
Insecticides Pesticides |
|
Countries : |
Japan |
|
|
|
|
Imports : |
|
|
Products : |
Dye Intermediate |
|
Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Central Bank of India, Corporate Finance Branch, M G Road,
Mumbai-400023, Maharashtra, India |
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Facilities : |
Note *Secured
by way of hypothecation of stocks and goods exported and personal guarantee
given by the Directors of the company # Secured Against Car Secured by way of
hypothecation of stocks and goods exported
and personal guarantee given by the
Directors of the company |
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Kailash Chand Jain And Company Chartered Accountants |
|
Address : |
Edena, 1st Floor, 97, Maharshi Karve Road, Near Income Tax
Office, Mumbai-400020, Maharashtra, India |
|
Tel. No.: |
91-22-22009131 / 22065373 |
|
Fax No.: |
91-22-22089978 |
|
Email : |
|
|
PAN No.: |
AFUPP1569G |
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|
|
|
Associates : |
·
Ravi Dyeware Company Limited ·
Kevat Developers Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
142500 |
Equity Shares |
Rs.100/-
each |
Rs.14.250
Millions |
|
|
|
|
|
Reconciliation of the
number of shares and amount outstanding at the beginning and at the end of the
reporting period:
|
Particulars |
Opening Balance |
Fresh issue |
Closing Balance |
|
Equity shares with voting
rights |
|
|
|
|
Year ended 31 March, 2012 |
|
|
|
|
- Number of shares |
142500 |
0 |
142500 |
|
- Amount (Rs. in millions) |
14.250 |
0 |
14.250 |
|
Year ended 31 March, 2011 |
|
|
|
|
- Number of shares |
142500 |
0 |
142500 |
|
- Amount (Rs. in millions) |
14.250 |
0 |
14.250 |
Details of shares held by each
shareholder holding more than 5% shares:
|
Class of shares / Name of
shareholder |
31.03.2012 |
|
|
Number of shares held |
% holding in that class of shares |
|
|
Equity shares with voting
rights |
|
|
|
Vinod Singhania |
22560 |
16 |
|
Phuldevi Singhania |
8400 |
6 |
|
Abha Singhania |
25000 |
18 |
|
Namrata Singhania |
21500 |
15 |
|
Siddharth Singhania |
11430 |
8 |
|
Ravi Dyeware Compnay Limited |
52000 |
36 |
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 |
14.250 |
14.250 |
14.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
193.522 |
181.820 |
147.828 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
207.772 |
196.070 |
162.078 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
260.644 |
275.460 |
83.347 |
|
|
2] Unsecured Loans |
3.639 |
3.593 |
3.639 |
|
|
TOTAL BORROWING |
264.283 |
279.053 |
86.986 |
|
|
DEFERRED TAX LIABILITIES |
1.778 |
2.058 |
2.585 |
|
|
|
|
|
|
|
|
TOTAL |
473.833 |
477.181 |
251.649 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
115.681 |
98.608 |
73.587 |
|
|
Capital work-in-progress |
21.017 |
16.913 |
2.467 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
224.440
|
224.907 |
164.238 |
|
|
Sundry Debtors |
141.829
|
186.043 |
76.580 |
|
|
Cash & Bank Balances |
10.907
|
8.667 |
7.181 |
|
|
Other Current Assets |
0.008
|
0.000 |
0.000 |
|
|
Loans & Advances |
123.644
|
133.562 |
95.759 |
|
Total
Current Assets |
500.828
|
553.179 |
343.758 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
94.616
|
105.360 |
142.871 |
|
|
Other Current Liabilities |
40.955
|
53.114 |
8.996 |
|
|
Provisions |
28.122
|
33.045 |
16.296 |
|
Total
Current Liabilities |
163.693
|
191.519 |
168.163 |
|
|
Net Current Assets |
337.135
|
361.660 |
175.595 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
473.833 |
477.181 |
251.649 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
893.986 |
905.764 |
624.493 |
|
|
|
Other Income |
4.428 |
5.290 |
43.197 |
|
|
|
TOTAL (A) |
898.414 |
911.054 |
667.690 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
542.629 |
|
626.743 |
|
|
|
Purchases of stock-in-trade |
70.364 |
50.106 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(15.752) |
(41.122) |
|
|
|
|
Employee benefits expense |
28.992 |
26.739 |
|
|
|
|
Other Expenses |
180.528 |
186.361 |
|
|
|
|
Foreign Exchange (Gain)/Loss |
28.774 |
(2.272) |
|
|
|
|
TOTAL (B) |
835.535 |
828.189 |
626.743 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
62.879 |
82.865 |
40.947 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.752 |
18.036 |
7.813 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.127 |
64.829 |
33.134 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.959 |
18.266 |
12.859 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17.168 |
46.563 |
20.275 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.466 |
12.571 |
6.791 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11.702 |
33.992 |
13.484 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
175.317 |
141.325 |
127.922 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
187.019 |
175.317 |
141.406 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on F O B basis |
527.262 |
560.849 |
430.809 |
|
|
TOTAL EARNINGS |
527.262 |
560.849 |
430.809 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
127.831 |
153.254 |
136.845 |
|
|
TOTAL IMPORTS |
127.831 |
153.254 |
136.845 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
82.12 |
238.54 |
94.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.30
|
3.73 |
2.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.92
|
5.14 |
3.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.78
|
7.14 |
4.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.24 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.06
|
2.40 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.06
|
2.89 |
2.04 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U24100MH1987PLC042868 |
|
Name of the company |
SIDDHARTH COLORCHEM LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
121, Atlanta, Nariman Point, Mumbai-400021, Maharashtra, India Email: admin@ravidyeware.com
|
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This form is for |
Modification of charge |
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Charge identification (ID) number of the charge to be modified |
80008314 |
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Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others (Current Assets and Fixed Assets) |
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Particular of charge holder |
Central Bank of India, Corporate Finance Branch, M G Road,
Mumbai-400023, Maharashtra, India Email: info@ad-lalwani.com |
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Nature of instrument creating charge |
Composite hypothecation deed |
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Date of instrument Creating the charge |
05.07.2011 |
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Amount secured by the charge |
Rs. 434.000 millions |
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Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As stipulated by bank from time to time Terms of Repayment As stipulated by bank from time to time Margin As stipulated by bank from time to time Extent and Operation of the charge First charge (present and future)total limit Rs. 434.000 millions
(fund based-c.c.=Rs. 5.000 millions, p.c.(pc/pcfc)=Rs.145.000 millions, post
shipment credit Rs.142.000 millions,pc/psc stand by export limits under gold
card scheme=Rs.48.000millions,total fund based limit Rs. 340.000 millions(sub
limit under post shipment credit aac/direct bills=Rs. 100.000 millions), non
fund based:- import/inland dp/da lc (usance up to 180 days)=Rs.90.000
millions, b.g=Rs.4.000 millions, total non fund limits =Rs 94.000
millions(sub limit under l.c. letter of comfort for buyers credit Rs.70.000
millions) Others As stipuatled by bank from time to time |
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Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
First charge (present and future) on following assets(1)hypothecation
of all stock/goods/inventories/products kept at borrower
place/premises/factories/godowns etc or where ever else or in transit Including brought under l.c./p.c./bank finance Hypohecation of all book debts and receivables including export
documentary bills Hypothecation of all plant and machinery, doc. of title to the goods
and movables and other assets. Additional security-hypothecaton of plant and machinery purchased out of term loan of central bank
of India Hypothecation of all current, movable
and fixed assets of the company |
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Particulars of the present modification |
By this modification enhanced from Rs. 324.000 millions to Rs. 434.000
millions, (total fund based limits Rs. 340.000 millions and total non fund
based limits 94.000 millions),charge on security will be continued as given
by original charge and by modifications, terms and conditions and as per
sanction letter of the bank |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Loans and advances from related parties Vinod Singhania |
3.639 |
3.593 |
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Total |
3.639 |
3.593
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FIXED ASSETS:
Tangible Assets
·
Land
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Free hold Land
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Lease hold Land
·
Building
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Office Premises (Rented)
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Factory Building
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Furniture and Fixture
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Plant & Machinery
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Lab Equipment
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Vehicles
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Electric Installation
·
Office Equipment
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Boiler
·
Computer
·
Generator
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Air Heat System
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Effluent Equipment
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Factory Equipment
·
Motor Cycle
·
Air Condition
·
Weighing Scale Indicator
·
Spray Drier Under ETP
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.54.85 |
|
|
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
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Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
43 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
NEW BUSINESS |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.