MIRA
INFORM REPORT
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Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
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Name : |
AGIO PHARMACEUTICALS LIMITED |
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Registered
Office : |
A-38, Nandjyot
Industrial Estate, Kurla Andheri Road, Safedpool, Andheri (East), Mumbai – 400072,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
24.01.1992 |
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Com. Reg. No.: |
11-065031 |
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Capital
Investment / Paid-up Capital : |
Rs. 51.848
Millions |
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CIN No.: [Company Identification
No.] |
U24239MH1992PLC065031 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20995C |
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PAN No.: [Permanent Account No.] |
AABCA8426A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Prescription Drugs. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1669700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term rating: CRISIL has suspended its
rating due to lack of information. 1 |
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Date |
March 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
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Registered/ Marketing
& Administrative Office : |
A-38, Nandjyot
Industrial Estate, Kurla Andheri Road, Safedpool, Andheri (East), Mumbai – 400072,
Maharashtra, India |
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Tel. No.: |
91-22-40984545/ 28518206/ 42319000 |
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Fax No.: |
91-22-28518204 |
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E-Mail : |
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Website : |
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Corporate Office : |
Mittal Towers, C - Wing 113, 11th Floor, Nariman Point,
Mumbai - 400021, Maharashtra, India |
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Tel. No.: |
91-22-22826885/ 42320000 |
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Fax No.: |
91-22-22826885 |
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E-Mail : |
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Factory : |
82, M.I.D.C, Bhosari, Pune – 411026, Maharashtra, India |
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Tel. No.: |
91-20-40730000/ 30683366/ 30683367 |
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Fax No.: |
91-20-40730002 |
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E-Mail : |
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Branch Offices : |
Located at: ¯ Moscow, Russia ¯ Tashkent, Uzbekistan ¯ Kiev, Ukraine ¯ Almaty,
Kazakistan |
DIRECTORS
AS ON 29.09.2012
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Name : |
Mr. Madhusudan Ruia |
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Designation : |
Managing director |
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Address : |
10th Floor, Shivam Apartment, Near Babulnath Temple, Grant Road
(West), Mumbai – 400007, Maharashtra, India |
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Date of Birth/Age : |
19.08.1957 |
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Qualification : |
B. Com |
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Date of Appointment : |
24.01.1992 |
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PAN No.: |
AAAPR6008D |
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DIN No.: |
00018971 |
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Other Directorship :
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Name : |
Mr. Pankaj Nandkishor Chandak |
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Designation : |
Whole-time director |
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Address : |
502, A Wing, The Crest, Rahatani Road, Pune – 411027, Maharashtra,
India |
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Date of Birth/Age : |
08.10.1980 |
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Qualification : |
B. Com |
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Date of Appointment : |
01.04.2011 |
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PAN No.: |
AGFPC5280M |
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DIN No.: |
03015380 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
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Names of Shareholders |
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No. of Shares |
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Madhusudan Ruia |
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1360035 |
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Sanjay Ruia |
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25 |
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Sita Ruia |
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1126265 |
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Sangeeta Sanjay Ruia |
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250000 |
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Madhusudan G. Ruia (HUF) |
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545093 |
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Sanjay G. Ruia (HUF) |
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102890 |
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Ritika .M. Ruia |
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71087 |
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Shree Madhur Realtors, India |
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1125000 |
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Emfor International, UAE |
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516865 |
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Rishabh M. Ruia |
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71038 |
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Govindprasad Ruia (HUF) |
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16468 |
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Total |
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5184766 |
AS ON 29.09.2012
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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16.78 |
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Bodies
corporate |
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21.70 |
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Directors
or relatives of directors |
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61.52 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Prescription Drugs. |
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Products/ Services : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
¯ HDFC Bank Limited ¯ Union Bank of India, Mumbai Samachar
Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra,
India ¯ The Cosmos Co-operative Bank Limited, 269/270, Cosmos
Heights, Pune, Pune - 411030, Maharashtra, India ¯ The Cosmos
Co-operative Bank Limited, 101, 1st Floor, Pratik Avenue, Nehru Road,
Vileparle (East), Mumbai - 411030, Maharashtra, India ¯ Oriental Abnk of
Commerce, Overseas Branch, Nariman Point, Mumbai, Maharashtra, India ¯ State Bank of
India, Industrial Finance Brnch, Sakinaka, Mumbai - 400072, Maharashtra,
India ¯ State Bank of
India, Mid Corporate Loan Administration Unit, R T O Lane, Andheri (West),
Mumbai - 400053, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
¯ Kotak Mahindra Prime Limited ¯ Religare
Finvest Limited |
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Auditors : |
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Name : |
Banka and Banka Chartered Accountants |
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Address : |
3rd Floor, Shah Trade Center, Rani Sati Marg, Off Western
Express Highway, Malad (East), Mumbai – 400097, Maharashtra, India |
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Tel. No.: |
91-22-40984545 |
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E-Mail : |
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Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB1145R |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
¯ Lifesource Healthcare ¯ Rank International ¯ Shree Print and Pack |
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Related Companies: |
¯ Genome Pharmaceuticals and Chemical Private Limited ¯ Revive Pharmaceuticals Limited ¯ Shree Madhur Realtors Private Limited ¯ Bhakti
Enterprise Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5,184,766 |
Equity Shares |
Rs. 10/- each |
Rs. 51.848
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
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51.848 |
50.083 |
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(b) Reserves & Surplus |
|
365.593 |
322.531 |
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(c) Money received against share warrants |
|
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
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0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
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417.441 |
372.614 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
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445.596 |
378.804 |
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(b) Deferred tax liabilities (Net) |
|
15.770 |
9.664 |
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(c) Other long
term liabilities |
|
0.000 |
0.000 |
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(d) long-term
provisions |
|
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
|
461.366 |
388.468 |
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(4)
Current Liabilities |
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(a)
Short term borrowings |
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425.049 |
402.676 |
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(b)
Trade payables |
|
376.449 |
290.910 |
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(c) Other
current liabilities |
|
41.019 |
24.178 |
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(d) Short-term
provisions |
|
8.465 |
8.356 |
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Total Current
Liabilities (4) |
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850.982 |
726.120 |
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TOTAL |
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1729.789 |
1487.202 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
|
330.873 |
348.334 |
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(ii)
Intangible Assets |
|
62.550 |
15.233 |
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(iii)
Capital work-in-progress |
|
2.966 |
3.103 |
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(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
|
0.621 |
0.611 |
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(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
|
40.014 |
52.636 |
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(e) Other
Non-current assets |
|
23.676 |
20.460 |
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Total Non-Current
Assets |
|
460.700 |
440.377 |
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(2)
Current assets |
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(a)
Current investments |
|
0.000 |
0.000 |
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(b)
Inventories |
|
246.003 |
290.559 |
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(c)
Trade receivables |
|
812.512 |
557.026 |
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(d) Cash
and cash equivalents |
|
10.930 |
9.680 |
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(e)
Short-term loans and advances |
|
199.457 |
189.457 |
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(f)
Other current assets |
|
0.187 |
0.103 |
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Total
Current Assets |
|
1269.089 |
1046.825 |
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TOTAL |
|
1729.789 |
1487.202 |
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SOURCES OF FUNDS |
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|
31.03.2010 |
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SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
|
|
50.083 |
|
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2] Share Application Money |
|
|
0.000 |
|
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3] Reserves & Surplus |
|
|
309.061 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
|
|
359.144 |
|
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
392.246 |
|
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2] Unsecured Loans |
|
|
152.971 |
|
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TOTAL BORROWING |
|
|
545.217 |
|
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DEFERRED TAX LIABILITIES |
|
|
11.167 |
|
|
|
|
|
|
|
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TOTAL |
|
|
915.528 |
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
390.544 |
|
|
Capital work-in-progress |
|
|
0.000 |
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|
|
|
|
|
|
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INVESTMENT |
|
|
0.510 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
240.964 |
|
|
Sundry Debtors |
|
|
415.301 |
|
|
Cash & Bank Balances |
|
|
12.197 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
155.320 |
|
Total
Current Assets |
|
|
823.782 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
219.409 |
|
|
Other Current Liabilities |
|
|
75.884 |
|
|
Provisions |
|
|
4.309 |
|
Total
Current Liabilities |
|
|
299.602 |
|
|
Net Current Assets |
|
|
524.180 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.294 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
915.528 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1912.425 |
1389.189 |
981.413 |
|
|
|
Other Income |
0.000 |
0.000 |
3.446 |
|
|
|
TOTAL (A) |
1912.425 |
1389.189 |
984.859 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1343.334 |
918.105 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
24.599 |
(34.019) |
|
|
|
|
Employee benefit expense |
127.609 |
147.557 |
|
|
|
|
Other expenses |
217.325 |
208.846 |
|
|
|
|
Exceptional items |
0.851 |
0.262 |
|
|
|
|
TOTAL (B) |
1713.718 |
1240.751 |
837.888 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
198.707 |
148.438 |
146.971 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
101.600 |
71.597 |
73.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
97.107 |
76.841 |
73.309 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
60.111 |
54.822 |
53.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
36.996 |
22.019 |
20.259 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.567 |
7.965 |
7.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
30.429 |
14.054 |
12.773 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
187.232 |
173.762 |
161.575 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.518 |
0.501 |
0.501 |
|
|
|
Corporate Dividend Tax thereon |
0.084 |
0.083 |
0.085 |
|
|
BALANCE CARRIED
TO THE B/S |
217.059 |
187.232 |
173.762 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
836.274 |
528.357 |
432.935 |
|
|
|
|
|
|
|
|
|
VALUE OF IMPORT ON
CIF BASIS |
202.814 |
43.096 |
25.983 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
5.87 |
2.81 |
2.39 |
|
|
|
Diluted
|
6.03 |
2.81 |
2.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.59
|
1.01 |
1.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.93
|
1.59 |
2.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.14
|
1.48 |
1.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.06 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.09
|
2.10 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49
|
1.44 |
2.75 |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
76.554 |
72.217 |
|
Deposits from shareholders |
107.089 |
83.998 |
|
Loans and advances from related parties |
69.720 |
0.000 |
|
Other loans and advances |
87.980 |
71.655 |
|
Total |
341.343 |
227.870 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24239MH1992PLC065031 |
|
Name of the
company |
AGIO
PHARMACEUTICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-38, Nandjyot
Industrial Estate, Kurla Andheri Road, Safedpool, Andheri (East), Mumbai – 400072,
Maharashtra, India Email: sdarjee@agio-pharma.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10286381 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
The Cosmos
Co-operative Bank Limited, 269/270, Cosmos Heights, Pune, Pune - 411030,
Maharashtra, India Email: aakanksha.rane@cosmosbank.in |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Understanding dated 22nd March, 2013 |
|
Date of
instrument Creating the charge |
22.03.2013 |
|
Amount secured by
the charge |
Rs. 302.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 1) Cash Credit -
13.00% p.a. as per present credit rating, 2) Letter of Credit - Commission as
per Banks Rules Terms of Repayment Cash Credit -
repayable on demand/ review within 12 months Export Packing
Credit - repayable on demand/ review within 12 months Foreign Bills
Discounting - repayable on demand/ review within 12 months Letter of Credit
- review within 12 months Bank Guarantee -
as per Bank Guarantee terms/ review within 12 months LER Limit for
forward cover booking - review within 12 months Margin Cash Credit - 25% Export Packing
Credit - 10% Foreign Bills
Discounting - 10% Letter of Credit
- 10% Bank Guarantee -
10% LER Limit for
forward cover booking - 10% Extent and Operation of the charge Cash Credit -
Pari Passu charge on all current assets with UBI Export Packing
Credit - Pari Passu charge on all current assets with UBI Foreign Bills
Discounting - Foreign bills to be discounted Letter of Credit
- Raw material to be purchased under LC Bank Guarantee -
Cash Margin, extended charge on the current and/or fixed assets LER Limit for
forward cover booking - Pari Passu Charge on stock and debtors with UBI and
extended charge on the collateral securities offered to other existing limits |
|
Short particulars
of the property charged |
Land and Building
situated at Plot No.T-81 and T-82, MIDC, Bhosari, Pune owned by Agio
Pharmaceuticals Limited on pari passu basis with UBI, Hypothecation
charge on plant and machinery and other fixed assets situated at Plot No.T-81
and T-82, MIDC, Bhosari, Pune owned by Agio Pharmaceuticals Limited on pari
passu basis with UBI, Gala No. A/38,
Nand-Jyot Indl Estate, Safed Pool, Kurla-Andheri Road, Mumbai - 400072 owned
by Revive Pharmaceuticals Private Limited on pari passu basis with UBI, Gala No. A/39,
Nand-Jyot Indl Estate, Safed Pool, Kurla-Andheri Road, Mumbai - 400072 owned
by Genome Pharmaceuticals and Chemicals Private Limited on pari passu basis
with UBI, Residential Flat
No.2001 A/B and 2002, Norita, Hiranandani Garden, Powai, Mumbai belonging to
Mrs Sita Ruia on pari passu basis with UBI, Gala No. A/37,
Nand-Jyot Indl Estate, Safed Pool, Kurla-Andheri Road, Mumbai - 400072
belonging to Bhakti Enterprises Limited, exclusively with Cosmos Bank, Flat No. C-602
situated in the Building Mayur Panorama, CTS No. 6011, Village Pimpri
Waghire, Pune belonging to Shree Madhur Realtors Private Limited exclusively
with Cosmos Bank. |
|
Particulars of
the present modification |
Existing charge
modified from Rs. 307.000 Millions to Rs.302.000 Millions consist of: 1) Cash Credit
Rs.225.000 Millions Sub limit A
Export Packing Credit Rs.112.500 Millions Sub limit B
Foreign Bill Discounting limit Rs.112.500 Millions 2) Letter of
credit Rs.65.000 Millions - Out of the LC limit of Rs.65.000 Millions, the Company
can utilise Rs.25.000 Millions interchangeable with Cash Credit Limit. thus,
the total utilization of CC & LC will not exceed Rs. 290.000 Millions. Sub limit A Bank
Guarantee - Rs.12.500 Millions 3) LER Limit -
Rs.12.000 Millions |
FIXED ASSETS:
¯ Land
¯ Buildings
¯ Factory
building
¯ Plant
and equipment
¯ Factory
equipments
¯ Furniture
and fixtures
¯ Vehicles
¯ Motor
vehicles
¯ Office
equipment
¯ Computer
equipments
¯ Other
equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.36 |
|
|
1 |
Rs. 86.69 |
|
Euro |
1 |
Rs. 77.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.