MIRA INFORM REPORT
|
Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BHAT BIO-TECH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.47, 38th Main, 6th Cross, B.T.M. Layout II Stage,
Bangalore- 68, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.03.1994 |
|
|
|
|
Com. Reg. No.: |
08-015346 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 34.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33111KA1994PTC015346 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is specialized in the design development, manufacture and marketing of diagnostic products and Biotechnology based products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. There
appears drastic fall in profitability during the current year. However, the general financial position of the company seems to be
good. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 |
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 : |
No. 47, 38th Main, 6th Cross, B.T.M. Layout II Stage,
Bangalore- 68, Karnataka, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 28.09.2012
|
Name : |
Dr. Shama Bhat |
|
Designation : |
Managing director |
|
Address : |
47, 38th Main, 6th Cross, BTM 2nd Stage, Bangalore South, Bangalore – 560068, Karnataka, India |
|
Date of Birth/Age : |
25.11.1949 |
|
Date of Appointment : |
09.03.1994 |
|
DIN No.: |
01679909 |
|
|
|
|
Name : |
Ms. Susheela Shama Bhat |
|
Designation : |
Director |
|
Address : |
No.47, 38th Main, BTM Layout II Stage, Bangalore – 560068, Karnataka, India |
|
Date of Birth/Age : |
15.07.1957 |
|
Date of Appointment : |
03.09.1994 |
|
DIN No.: |
01921647 |
|
|
|
|
Name : |
Ms. Kousalya Bhat |
|
Designation : |
Director |
|
Address : |
738 Champlain Dr, Kng of Prussia, United States of America |
|
Date of Birth/Age : |
19.05.1955 |
|
Date of Appointment : |
30.11.1997 |
|
DIN No.: |
02813027 |
|
|
|
|
Name : |
Mr. Krishna Mundathase Bhat |
|
Designation : |
Director |
|
Address : |
1302 Laurelview Dr Ext, Johnstown, United States of America |
|
Date of Birth/Age : |
18.10.1953 |
|
Date of Appointment : |
30.11.1997 |
|
DIN No.: |
02843296 |
|
|
|
|
Name : |
Mr. Shivarama Bhat |
|
Designation : |
Director |
|
Address : |
3701 Stone Temple CT, Rocklin, Ca, United States of America |
|
Date of Birth/Age : |
13.07.1945 |
|
Date of Appointment : |
25.08.2001 |
|
DIN No.: |
02843314 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of
Shareholders |
|
No. of Shares |
|
Shama Bhat |
|
178721 |
|
Susheela Bhat |
|
54677 |
|
Nalini Bhat |
|
11075 |
|
Utsav Bhat |
|
6493 |
|
Venkataramana Ajjanagadde |
|
1000 |
|
Ramesh Bhat |
|
23132 |
|
Krishna M. Bhat |
|
12456 |
|
Kousalya Bhat |
|
1822 |
|
Shankara Bhat Kailasa |
|
1000 |
|
Sandhya Sharma |
|
5937 |
|
Harihara Keshava Hegde |
|
7886 |
|
I. Narayana Bhat |
|
3900 |
|
Ravi K. Alangar |
|
4149 |
|
Bheem M. Bhat |
|
2150 |
|
Ramadas K.Kamath |
|
2140 |
|
Krishna G. Upadhya |
|
4336 |
|
B.N. Narasinga Rao |
|
1288 |
|
C.S. Ramesha |
|
2142 |
|
Padmanabha Bhat Kolpe |
|
200 |
|
Naras Bhat K |
|
2142 |
|
Krishna Moorthy |
|
2146 |
|
Gopal Krishna Kote |
|
2259 |
|
Shivarama Bhat |
|
10803 |
|
Sphoorti D. Umarjee |
|
2146 |
|
C. Sathya Prasad |
|
1000 |
|
Total |
|
345000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is specialized in the design development,
manufacture and marketing of diagnostic products and Biotechnology based
products. |
PRODUCTION STATUS As on 31.03.2011
|
Particulars |
|
|
|
Actual
Production |
|
Semi Finished Goods and Finished Goods |
|
|
|
73281223.04 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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|
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|
Financial
Institute |
3i Infotech Trusteeship Services Limited, 3rd to 6th floor, International Infotech Park, Tower No. 5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India |
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|
|
|
Auditors : |
|
|
Name : |
GV Acharya and Company Chartered Accountant |
|
Address : |
No.310, 3rd Floor, 9/1, Commerce House, Cunningham Road, Bangalore –
560052, Karnataka, India |
|
Tel. No.: |
91-80-22202065/ 22285903/ 23337647 (R) |
|
Fax No.: |
91-22-22285903 |
|
E-Mail : |
|
|
PAN.: |
AABFG0696B |
CAPITAL STRUCTURE
As on: 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.100/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
345000 |
Equity Shares |
Rs.100/-
each |
Rs. 34.500
Millions |
|
|
|
|
|
Reconciliation of
share capital
|
Particulars |
Number of Shares |
Amount |
|
Equity Shares (Face Value Rs 100.00) |
3450000 |
34.500 |
|
Shares outstanding at the beginning of the year |
- |
- |
|
Shares Issued during the year Shares bought back during the year |
- |
- |
|
Shares outstanding at the end of the year |
3450000 |
34.500 |
Shareholders holding
more than 5% of Share
|
Particulars |
Number of Shares |
% of holding |
|
Shama Bhat |
178721 |
51.80 |
|
Susheela Bhat |
54677 |
15.85 |
|
Ramesh Bhat |
23132 |
6.70 |
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 |
34.500 |
34.500 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
60.641 |
56.799 |
46.619 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
95.141 |
91.299 |
76.619 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
25.312 |
5.554 |
20.809 |
|
|
2] Unsecured Loans |
8.649 |
1.654 |
0.000 |
|
|
TOTAL BORROWING |
33.961 |
7.208 |
20.809 |
|
|
DEFERRED TAX LIABILITIES |
0.385 |
0.134 |
0.054 |
|
|
|
|
|
|
|
|
TOTAL |
129.487 |
98.641 |
97.482 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
41.542 |
42.961 |
41.616 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
OTHER NOIN CURRENT ASSETS |
18.353 |
6.062 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.391
|
17.278 |
17.056 |
|
|
Sundry Debtors |
38.180
|
26.920 |
42.527 |
|
|
Cash & Bank Balances |
3.800
|
9.153 |
7.759 |
|
|
Other Current Assets |
7.636
|
8.097 |
0.000 |
|
|
Loans & Advances |
6.278
|
4.693 |
12.111 |
|
Total
Current Assets |
90.285
|
66.141 |
79.453 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.758
|
5.755 |
12.375 |
|
|
Other Current Liabilities |
6.926
|
3.759 |
|
|
|
Provisions |
6.009
|
7.009 |
|
|
Total
Current Liabilities |
20.693
|
16.523 |
23.587 |
|
|
Net Current Assets |
69.592
|
49.618 |
55.866 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
129.487 |
98.641 |
97.482 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
10.103 |
17.269 |
15.277 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.251 |
3.080 |
3.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.852 |
14.189 |
11.859 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
3.450 |
3.450 |
3.000 |
|
|
|
Tax on Dividend |
0.559 |
0.559 |
0.498 |
|
|
PROFIT
TTANSFERED TO GENERAL RESERVE |
3.843 |
10.180 |
8.361 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
US$ 266594.45 |
US$ 211954.59 |
US$ 301207.64 |
|
|
TOTAL EARNINGS |
US$
266594.45 |
US$
211954.59 |
US$
301207.64 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
|
|
|
Stores & Spares |
US$ 697653.84 |
US$ 724430.95 |
0.000 |
|
|
|
Capital Goods |
|
|
|
|
|
TOTAL IMPORTS |
US$
697653.84 |
US$ 724430.95 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.76 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.66
|
15.83 |
12.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.19 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.26 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.36
|
4.00 |
3.37 |
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATION AND
PERFORMANCE REVIEW
The Directors recommend a final dividend of Rs.10/- Per equity share to be appropriated from the profits of the year 2011-12 subject to the approval by the shareholders at the ensuing Annual General Meeting. After the approval of the shareholders at the ensuing Annual General Meeting, the dividend will be paid in line with the applicable regulations.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U33111KA1994PTC015346 |
|
Name of the
company |
BHAT BIO-TECH
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 47, 38th Main, 6th Cross, B.T.M. Layout II Stage, Bangalore- 68, Karnataka, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10101873 |
|
Type of charge |
|
|
Particular of
charge holder |
3i Infotech
Trusteeship Services Limited 3rd to 6th floor,
International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi
Navi Mumbai – 400703, Maharashtra, India |
|
Nature of
instrument creating charge |
1. Deed of
Hypothecation securing movable assets and Current Assets of the company. 2. Mortgage
Declaration securing extension of mortgage of Plot No 11-A-Sy no, parts of 28
and 29 situated at Veerasandra Village ,Attibelle Hoble, Anekal Taluk,
Bangalore District |
|
Date of
instrument Creating the charge |
11.12.2012 |
|
Amount secured by
the charge |
Rs. 60.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Sum of I-Base and spread, subject to minimum rate of I-Base 9.75% + Spread 2.75 % p.a., plus applicable interest tax or other statutory levy, if any. Current Rate is 12.50% p.a. Terms of Repayment Working Capital
Facilities Valid till 09.12.2013 Margin Cash Margin 15%
on LCs. Financial
Guarantees 15% Performance
Guarantees 15% Guarantees
covering disputed Liabilities 100 % Extent and Operation of the charge Exclusive Charge Others The existing
securities are secured and charged for additional facility of Rs 10.000
Millions over and above the existing Rs 50.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Date of
instrument modifying the charge |
20.01.2012 |
|
Particulars of
the present modification |
The enhancement
of Rs 10.000 Millions is additionally secured and charged by Hypothecation of
Current Assets and extension of Mortgage on Plot No 11-A-Sy no, parts of 28
and 29 situated at Veerasandra Village ,Attibelle Hoble ,Anekal
Taluk,Bangalore District in all measuring 2345 sq.mts together with all
buildings and structures thereon |
FIXED ASSETS
- Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipment
- Vehicles
- Land
PRESS RELEASE
Bangalore- 17th
October 2012.
In order to provide clinical diagnostic solutions to the Medical fraternity, M/s Bhat Bio-Tech India Pvt. Ltd., Bangalore has developed a new Diagnostic test kit for Dengue disease. All over the world, there are only a few companies which can produce the same. This company is the second Indian company to produce the NS1 Antigen along with IgM and IgG antibody detection test kit.
Dengue is a common disease and can cause fatal situation in no time. An accessible, affordable, quick and convenient diagnostic solution is the only way to protect the society from this deadly disease while avoiding the economic loss, with minimal medical supervision and hospitalization. Adding to the severity are the climate situation and mosquitoes, which cause transmission of the disease widely. The best way to handle any dengue suspected case is to detect the virus early.
Answering the need, Bangalore-based and reputed Indian diagnostic manufacturer, M/s Bhat Bio-Tech India Pvt Ltd., has developed a completely indigenous diagnostic test kit for Dengue to detect NS1 antigen, IgM and IgG antibodies simultaneously. The test kit detects all known 4 sero types of dengue virus and can be performed whole blood, serum and plasma. The test kit has shown highly promising industry standard results. To enable affordability, the test kit is provided in a convenient pack size of 10 tests (with 18 months of expiry) and can be stored in 4 - 30 degree temperature. The NS1 antigen test kits and antibody kits have also been made available separately to make the key diagnostic tool for Dengue more affordable to the society.
Dr Shama Bhat., Ph.D, Chairman and Managing Director of Bhat Bio-Tech India Pvt. Ltd., has stated that the test kits are completely designed and standardized by the company’s own team of scientists. He also added that the company is only a step away in providing completely AFFORDABLE indigenous diagnostic solutions in Molecular Biology. The company, established in 1994, has been delivering diagnostic solutions all over the country through its own sales and service network. The company is also actively involved in providing OEM solutions to industrial needs with its plant standard of WHO-GMP, ISO-13485 and CE enabled manufacturing facilities located in the Silicon city of India, Bangalore.
Dr Shama Bhat formerly served as a scientist in the University of Pennsylvania, Philadelphia USA.
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 exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 53.85 |
|
|
1 |
Rs. 85.26 |
|
Euro |
1 |
Rs. 71.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.