MIRA
INFORM REPORT
|
Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
KLENZAIDS CONTAMINATION CONTROLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A/21-22, M.I.D.C., Industrial Area, Street No.3, Andheri (East),
Mumbai-400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.02.1978 |
|
|
|
|
Com. Reg. No.: |
11-020112 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.826 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33112MH1978PTC020112 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Clean Room Equipments, Pharmaceutical
Machineries and Accessories. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 390000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is established companies having moderate track record. Latest
financials i.e. 2011-2012 are missing from the government department. From
the previous year record, it seems that the profit margin 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 caution. |
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 |
A4 (Short term non-fund based facility) |
|
Rating Explanation |
The risk prone credit quality It carry high
credit risk |
|
Date |
25.04.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
BB- (Long term fund based facility) |
|
Rating Explanation |
The inadequate credit quality It carry high
credit risk. |
|
Date |
25.04.2012 |
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 : |
A/21-22, M.I.D.C., Industrial Area, Street No.3, Andheri (East),
Mumbai-400093, Maharashtra, India |
|
Tel. No.: |
91-22-28323113 / 28218921 |
|
Fax No.: |
91-28377927 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
219, GIDC Industrial Area, Umergaon District – Valsad, Gujarat,
India |
|
Tel. No.: |
91-260-2562082 |
|
Fax No.: |
91-260-2563082 |
|
Email : |
|
|
|
|
|
Factory 2 : |
1/1, ½, 3/1, GIDC Industrial Area, District – Valsad, Gujarat,
India |
|
Tel. No.: |
91-260-2562862 |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Ramesh Parsram Lala |
|
Designation : |
Director |
|
Address : |
B 103, Iris Park, Patel Estate Road, Jogeshwari (West), Mumbai-400102,
Maharashtra, India |
|
Date of Birth/Age : |
21.01.1952 |
|
Date of Appointment : |
22.01.1998 |
|
DIN No.: |
00270382 |
|
|
|
|
Name : |
Mehernosh Eruch Engineer |
|
Designation : |
Additional director |
|
Address : |
West Coast Co-operative Housing Society Limited, Flat No.53, J.P.
Road, Seven Bunglow, Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
18.10.1949 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
00270510 |
|
|
|
|
Name : |
Mr. Prabhakar Venkappa Shetty |
|
Designation : |
Director |
|
Address : |
Plot No.1, Flat No.4, D Muljee Nagar, S.V.Road, Borivali (West),
Mumbai-400092, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1955 |
|
Date of Appointment : |
01.05.1983 |
|
DIN No.: |
00270842 |
|
|
|
|
Name : |
Mr. Chandru Mangaram Shahani |
|
Designation : |
Director |
|
Address : |
28, Silversands Dariyalal Co-operative Housing Society, Juhu, Mumbai-400049,
Maharashtra, India |
|
Date of Birth/Age : |
21.12.1936 |
|
Date of Appointment : |
24.09.1991 |
|
DIN No.: |
01255808 |
|
|
|
|
Name : |
Mr. Hariprasad Krishnan Iyer |
|
Designation : |
Director |
|
Address : |
303, Sanidi Park, B Wing, Hariom Nagar, Mulund (East), Mumbai-400081,
Maharashtra, India |
|
Date of Birth/Age : |
22.09.1954 |
|
Date of Appointment : |
19.06.1992 |
|
DIN No.: |
01255882 |
|
|
|
|
Name : |
Mr. Krishnamurthy Hariharsubramanian |
|
Designation : |
Director |
|
Address : |
D7, Endeavour Society, 90 Feet Road, Mulund (East), Mumbai-400081,
Maharashtra, India |
|
Date of Birth/Age : |
08.09.1953 |
|
Date of Appointment : |
01.12.1983 |
|
DIN No.: |
01255960 |
|
|
|
|
Name : |
Mr. Hamish Chandru Shahani |
|
Designation : |
Managing director |
|
Address : |
28, Silversands Dariyalal Co-operative Housing Society, Juhu,
Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
28.06.1968 |
|
Date of Appointment : |
01.12.2006 |
|
DIN No.: |
01255910 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Chandru M Shahani |
|
2410 |
|
Mona Chandru Shahani |
|
5496 |
|
Hamish C Shahani |
|
5272 |
|
Hamish Investments Private Limited, India |
|
13944 |
|
Neena Yogesh Mathur |
|
1 |
|
Prabhakar V Sheety |
|
250 |
|
Krishnamurthy Hariharsubramanian |
|
250 |
|
Monisha Narke |
|
330 |
|
Chandrabhan Trust |
|
135 |
|
Mehernosh E Engineer |
|
10 |
|
Mahesh Gidwani |
|
32 |
|
Shahani M Chandru HUF |
|
125 |
|
Anita H Shahani |
|
7 |
|
Total |
|
28262 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2011
|
Category |
Percentage |
|
Bodies corporate |
49.34 |
|
Directors or relatives of Directors |
49.78 |
|
Other top fifty shareholders |
0.88 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Clean Room Equipments, Pharmaceutical
Machineries and Accessories. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State
Bank of Mysore, 24/26, Cama Building,
Dalal Street, Fort, Mumbai- 400001, Maharashtra, India ·
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Natvarlal Vepari and Company Chartered Accountants |
|
Address : |
Oricon House, 4th Floor,12K, Dubhash Marg, Mumbai- 400023,
Maharashtra, India |
|
Tel. No.: |
91-22-67527100 |
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Fax No.: |
91-22-67527101 |
|
PAN No.: |
AAAFN2322E |
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|
|
|
Entities where control exists : |
Hamish Investments Private Limited |
|
|
|
|
Subsidiaries : |
Klenzaids
Inc |
|
|
|
|
Enterprises owned or significantly influenced by key management
personnel or their relatives : |
·
Vector Systems and Instrumentation Private
Limited ·
Ziebert Engineering Industries Private Limited ·
Klenzaids Bioclean Devices Private Limited
· Brisk Tour and Travels |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.100/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28262 |
Equity Shares |
Rs.100/- each |
Rs. 2.826 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 |
2.826 |
2.826 |
2.826 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
96.000 |
86.187 |
75.041 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
98.826 |
89.013 |
77.867 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
63.094 |
52.895 |
39.986 |
|
|
2] Unsecured Loans |
1.676 |
2.917 |
4.829 |
|
|
TOTAL BORROWING |
64.770 |
55.812 |
44.815 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
163.596 |
144.825 |
122.682 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
27.894 |
33.788 |
38.373 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
12.330 |
17.000 |
17.000 |
|
|
DEFERRED TAX ASSETS |
0.517 |
0.458 |
1.039 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
90.243
|
84.454 |
83.763 |
|
|
Sundry Debtors |
238.138
|
160.860 |
102.078 |
|
|
Cash & Bank Balances |
9.944
|
14.699 |
17.200 |
|
|
Other Current Assets |
0.371
|
0.648 |
0.000 |
|
|
Loans & Advances |
63.244
|
74.266 |
71.258 |
|
Total
Current Assets |
401.940
|
334.927 |
274.299 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
145.535
|
131.616 |
117.579 |
|
|
Other Current Liabilities |
97.913
|
76.416 |
69.987 |
|
|
Provisions |
35.637
|
33.316 |
20.463 |
|
Total
Current Liabilities |
279.085
|
241.348 |
208.029 |
|
|
Net Current Assets |
122.855
|
93.579 |
66.270 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
163.596 |
144.825 |
122.682 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
0.294 |
0.270 |
0.224 |
|
|
|
Receipts from Jobs Projects |
0.131 |
0.157 |
0.092 |
|
|
|
Receipts from Services |
0.010 |
0.005 |
0.005 |
|
|
|
Other Income |
0.003 |
0.002 |
0.003 |
|
|
|
TOTAL |
0.438 |
0.434 |
0.324 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
0.295 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
0.405 |
0.402 |
0.295 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.033 |
0.032 |
0.029 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.013 |
0.011 |
0.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.020 |
0.021 |
0.016 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.068 |
0.058 |
0.042 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.008 |
0.008 |
0.000 |
|
|
|
Dividend Tax |
0.001 |
0.001 |
0.000 |
|
|
|
Transfer to General Reserve |
0.002 |
0.002 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
0.077 |
0.068 |
0.058 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export of Goods |
13.123 |
|
3.258 |
|
|
|
Engineering Services |
4.675 |
0.000 |
|
|
|
|
Foreign Exchange used |
5.794 |
4.833 |
|
|
|
TOTAL EARNINGS |
23.592 |
20.440 |
3.258 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
697.00 |
744.00 |
582.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.57
|
4.84 |
4.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.22
|
11.85 |
12.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.01
|
0.01 |
0.001 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.48
|
3.34 |
3.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
1.39 |
1.32 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BUSINESS OVERVIEW
The company is in the field of manufacturing of clean room equipments
and pharmaceutical machineries and also undertaking of projects of turkey basis.
The company has received good orders in the last 6 months and the order book as
on date stands on a healthy level.
The company has a positive step to strengthen its base overseas, has
decided to have the separate entity in US. Accordingly the company has
established a subsidiary in US viz. Klenzaids Inc.
As regards the auditors observation pertaining to internal control
procedures, the management is taking necessary steps for this.
As regards separate internal audit system, this is being implemented.
There were some delays in payment of statutory dues to non receipt of
collections in time. However, all the dues of the company as on 31st
March 2011 have since been paid.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
From Bank (Guaranteed by one of the directors) |
0.359 |
2.552 |
|
From Shareholders and others |
1.317 |
0.365 |
|
Total |
1.676
|
2.917
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U33112MH1978PTC020112 |
|
Name of the company |
KLENZAIDS CONTAMINATION CONTROLS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
A/21-22, M.I.D.C., Industrial Area, Street No.3, Andheri (East),
Mumbai-400093, Maharashtra, India Email: klenzaids@mtnl.net.in
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10141707 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others (Receivables) |
|
Particular of charge holder |
State Bank of Mysore, 24/26, Cama Building, Dalal Street, Fort, Mumbai- 400001,
Maharashtra, India Email: dalast@sbm.co.in |
|
Nature of instrument creating charge |
Agreement of Loan - Cum - Hypothecation |
|
Date of instrument Creating the charge |
22.03.2012 |
|
Amount secured by the charge |
Rs. 195.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Interest at 6.25% above the base rate Present effective rate 16.75%
p.a. Terms of Repayment Repayable on demand. The facility is available for 12 months subject
to review every 12 months. Margin A) Fund Based Limits 1) Cash Credit - a) Stocks -
33 1/3 b)
Receivables - 50% B) Non Fund Based Limits 1) letter of Credit - a) Inland/ foreign LC - 20% b)
All Bank Guarantees - 20% Extent and Operation of the charge The extent and operation of charge is as per Agreement of Loan - Cum -
Hypothecation. Others Usance Period : Inland LCs:
maximum - 90 days
Foreign LCs : maximum - 180 days |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of stocks, book debts and receivables present and future
|
|
Date of instrument modifying the charge |
23.04.2011 |
|
Particulars of the present modification |
By this present modification the Bank has increased its Cash Credit
limit from Rs. 54.300 millions to Rs.
85.000 millions, Bank Guarantee from Rs. 85.000 millions to Rs. 90.000
millions and letter of Credit from Rs. 10.000 millions to Rs. 20.000 millions
aggregating to Rs. 195.000 millions and withdrawn the existing limit of Bank
guarantee for CCMB -Project of Rs. 115.000 millions hence the existing limit
of Rs. 264.300 millions is reduced to Rs. 195.000 millions |
FIXED ASSETS
·
Goodwill on Amalgamation
·
Land for Factory building
·
Land for staff Qtrs.
·
Tools
·
Factory Building
·
Staff Qtrs.
·
Plant and Machinery
·
Electrical Installation
·
Office Equipment
·
Furniture and Fixture
·
Air Conditioner /
Refrigerator
·
Motor Cycle
·
Motor Car
·
Motor Lorry / Tempo
·
Weighing Scale
·
Die Moulder and Patterns
·
Bicycle
·
Three Wheeler
·
Truck
·
Testing Instruments
·
Computer
·
Patent
·
Photocopier Machine
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.54.64 |
|
|
1 |
Rs.87.46 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
4 |
|
--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 |
|
29 |
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.