MIRA
INFORM REPORT
|
Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
HASSIA PACKAGING PRIVATE LIMITED (w.e.f. 03.10.2006) |
|
|
|
|
Formerly Known
As : |
HASSIA REDATRON PACKAGING MACHINERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No.768/3, Sanaswadi, Taluka
Shirur, Koregaon Bhima, Pune – 412 207, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
19.06.1997 |
|
|
|
|
Com. Reg. No.: |
11-108901 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.42.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29195PN1997PTC108901 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEH00824F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH4374D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject’s primary
business is to manufacture, export, import and deal in all types of packaging
machines, allied systems and accessories. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 376000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of ‘Oystar
Verwaltungs GmbH’. It is a well established company having a good track record. It has recorded a better growth in its sales and profits during 2012. Profitability of the company appears to be good. Trade relations are
reported as decent. Business is active. Payments are reported to be regular
and as per commitment. The company can be considered good 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very
High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
May, 2013 |
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/ Factory : |
Gat No.768/3, Sanaswadi, Taluka
Shirur, Koregaon Bhima, Pune – 412 207, Maharashtra, India |
|
Tel. No.: |
91-2137-253210/ 209/ 302800/ 803/ 804/ 805/ 806 91-20-22532081 |
|
Fax No.: |
91-2137-302819/ 253206 |
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E-Mail : |
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Website : |
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Administrative Office/ Branch Office : |
15/A, Kondhwa Budruk, Pune – 411
004, Maharashtra, India |
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E-Mail : |
DIRECTORS
AS ON 29.03.2013
|
Name : |
Mr. Ravi Krishnamachari |
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|
Designation : |
Managing Director |
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|
Address : |
10/10, Kumar City, Kalyani Nagar, Pune – 411 014,
Maharashtra, India |
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Date of Birth/Age : |
11.06.1959 |
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Qualification : |
B.Sc., M.B.A |
|||||||||||||||||||||||||||
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Experience : |
32 Years |
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|
Date of Appointment : |
19.06.1997 |
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DIN No.: |
00327292 |
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Markus Adolf Ehl |
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|
Designation : |
Nominee Director |
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|
Address : |
Schaiblesweg 8, Bad Herrenalb, Germany 76332 |
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|
Date of Birth/Age : |
03.06.1961 |
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Date of Appointment : |
31.08.2011 |
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DIN No.: |
03631106 |
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Dieter Steinbach |
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|
Designation : |
Nominee Director |
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|
Address : |
Durlacher Strasse 17, Ettlingen - 76275, Germany |
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|
Date of Birth/Age : |
29.12.1952 |
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|
Date of Appointment : |
31.08.2011 |
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DIN No.: |
03631109 |
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Joesf Spieler |
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|
Designation : |
Nominee Director |
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|
Address : |
Muhlsteig 9, Ulm 89075 Germany |
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Date of Birth/Age : |
25.05.1954 |
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Date of Appointment : |
26.03.2012 |
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DIN No.: |
01514814 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Sunil N. Adhiya |
|
Designation : |
Practicing Company Secretary |
|
Address : |
201, Pallavi House, Dr. Ketkar Marg, Erandwane, Pune – 411 004,
Maharashtra, India |
|
Tel. No.: |
91-20-25661392 |
|
Mobile No.: |
91-9823122984 |
|
E-Mail : |
MAJOR SHAREHOLDERS
AS ON 29.03.2013
|
Names of Shareholders |
|
No. of Shares |
|
Oystar Verwaltungs GmbH, Germany |
|
419999 |
|
Markus Adolf Ehl, Germany |
|
1 |
|
Total |
|
420000 |
AS ON 29.03.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject’s
primary business is to manufacture, export, import and deal in all types of
packaging machines, allied systems and accessories. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2011)
|
Particulars |
Unit |
As
at December 31, 2011 |
|
Licensed Capacity* |
No. |
200 |
|
Installed Capacity** |
No. |
200 |
|
Actual Production |
No. |
106 |
Note:
* Licensed Capacity is based on Industrial
license issued by Government of India
** As certified by management and relied upon
by the auditors, being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
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|
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Bankers : |
Canara Bank, M.G. Road, Pune – 411
001, Maharashtra, India |
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Facilities : |
Note: LONG TERM BORROWINGS The terms of repayment of the long-term borrowings is as follows:
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Muttha Towers, 5th Floor, Suite No.8, Airport Road,
Yerwada, Pune-411006, Maharashtra, India |
|
PAN No.: |
AADFP9359C |
|
|
|
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Ultimate Holding Company: |
Odewald and Compagnie GmbH and Company |
|
|
|
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Immediate Holding Company : |
Oystar
Holding GmbH |
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|
|
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Holding Company : |
Oystar Verwaltungs GmbH, Germany |
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|
|
|
Fellow Subsidiary : |
·
Oystar Packaging Tech. GmbH ·
Oystar Thailand ·
Oystar Gasti
Verpack. GmbH ·
Hassia Verpackungsmaschinen GmbH |
CAPITAL STRUCTURE
AS ON 29.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
420000 |
Equity Shares |
Rs.100/- each |
Rs.42.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
420000 |
Equity Shares |
Rs.100/- each |
Rs.42.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
42.000 |
42.000 |
|
(b) Reserves & Surplus |
|
51.984 |
92.525 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
93.984 |
134.525 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.981 |
0.136 |
|
(b) Deferred tax liabilities (Net) |
|
1.416 |
1.020 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
2.244 |
2.511 |
|
Total Non-current
Liabilities (3) |
|
4.641 |
3.667 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
49.675 |
18.782 |
|
(b)
Trade payables |
|
54.940 |
70.602 |
|
(c) Other
current liabilities |
|
27.693 |
58.717 |
|
(d) Short-term
provisions |
|
3.603 |
2.653 |
|
Total Current
Liabilities (4) |
|
135.911 |
150.754 |
|
|
|
|
|
|
TOTAL |
|
234.536 |
288.946 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
94.210 |
91.352 |
|
(ii)
Intangible Assets |
|
1.095 |
1.345 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
9.423 |
23.646 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
104.728 |
116.343 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
46.543 |
67.042 |
|
(c)
Trade receivables |
|
28.161 |
44.572 |
|
(d) Cash
and cash equivalents |
|
16.875 |
49.690 |
|
(e)
Short-term loans and advances |
|
38.159 |
11.158 |
|
(f)
Other current assets |
|
0.070 |
0.141 |
|
Total
Current Assets |
|
129.808 |
172.603 |
|
|
|
|
|
|
TOTAL |
|
234.536 |
288.946 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
42.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
51.689 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
93.689 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
14.321 |
|
|
2] Unsecured Loans |
|
|
1.500 |
|
|
TOTAL BORROWING |
|
|
15.821 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.095 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
109.605 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
27.251 |
|
|
Capital work-in-progress |
|
|
24.506 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
34.402
|
|
|
Sundry Debtors |
|
|
19.883
|
|
|
Cash & Bank Balances |
|
|
52.435
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
22.365
|
|
Total
Current Assets |
|
|
129.085 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
30.770
|
|
|
Other Current Liabilities |
|
|
22.452
|
|
|
Provisions |
|
|
18.015
|
|
Total
Current Liabilities |
|
|
71.237 |
|
|
Net Current Assets |
|
|
57.848
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
109.605 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
347.852 |
235.782 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
378.593 |
347.852 |
235.782 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
275.937 |
185.142 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
306.587 |
275.937 |
185.142 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
72.006 |
71.915 |
50.640 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.236 |
10.208 |
4.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
61.770 |
61.707 |
46.602 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
20.396 |
20.871 |
16.205 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
41.374 |
40.836 |
30.397 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
92.525 |
51.689 |
21.292 |
|
|
|
|
|
|
|
|
|
Add |
Transferred from Surplus in statement of Profit and Loss during the
year |
4.137 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend on Equity Shares for the year |
70.480 |
-- |
-- |
|
|
|
Dividend Distribution tax on interim dividend on Equity Shares |
11.435 |
-- |
-- |
|
|
|
Transfer to General Reserve |
4.137 |
-- |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
51.984 |
92.525 |
51.689 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export on FOB basis |
163.133 |
104.614 |
52.415 |
|
|
TOTAL EARNINGS |
163.133 |
104.614 |
52.415 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
14.870 |
13.463 |
7.673 |
|
|
TOTAL IMPORTS |
14.870 |
13.463 |
7.673 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
98.51 |
97.23 |
72.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
10.93
|
11.74
|
12.89
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.34
|
21.36
|
29.81
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66
|
0.46
|
0.50
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.54
|
0.14
|
0.17
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96
|
1.14
|
1.81
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.12.2012 (Rs. in Millions) |
31.12.2011 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Sales Tax
Deferral Loan |
0.136 |
0.136 |
|
Total |
0.136 |
0.136 |
Note:
LONG TERM BORROWINGS
The terms of repayment of the long-term borrowings are as follows:
|
Borrowings |
Terms
of repayment |
|
Sales Tax
Deferral Loan |
Repayable after
10 years from the date of furnishing Sales Tax Return |
COMPANY OVERVIEW
The Company, a subsidiary
of Oystar Verwaltungs GmbH Germany, was incorporated under The Companies Act,
1956 of India on June 19, 1997.
The Company’s
primary business is to manufacture, export, import and deal in all types of
packaging machines, allied systems and accessories.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29195PN1997PTC108901 |
|
Name of the
company |
HASSIA PACKAGING
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No.768/3, Sanaswadi, Taluka
Shirur, Koregaon Bhima, Pune – 412 207, Maharashtra, India E-Mail: sunil_adhiya@vsnl.net |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10066852 |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Canara Bank, 11, M.G. Road,
Camp, Pune – 411 001, Maharashtra, India E-Mail: mnorth2551@canbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Common Hypothecation Agreement dated 31.03.2012 |
|
Date of
instrument Creating the charge |
31.03.2012 |
|
Amount secured by
the charge |
Rs.120.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BR+3.75% i.e. @
14.50% p.a. Terms of Repayment On Demand Margin Cash Credit:
Stock - 25% and Book Debts- 40% Letter of Credit:
15% Bank Guarantee:
15% Extent and Operation of the charge First Charge in
Favour of the Bank |
|
Short particulars
of the property charged |
Movable Fixed Assets: Plant and machinery, equipments, accessories, stocks and book debts Free Hold Land and Building Admeasuring 8922.50 Sq.Mtr at Gat No.768/1 and 768/3 Sanaswadi, Taluka Shirur, District Pune. All the properties are situated in India |
|
Date of latest modification
prior to the present modification |
23.06.2011 |
|
Particulars of
the present modification |
Amount covered
under the charge is increased from Rs.60.000 millions to Rs.120.000 millions
consisting of the following facilities: Cash Credit: Rs.60.000 millions Letter Of
Credit: Rs.15.000 millions Bank
Guarantee: Rs.45.000 millions ------------------------------------------------------ Total: Rs.120.000 millions =============================== |
FIXED ASSETS:
Tangible Assets:
·
Freehold Land
·
Factory and Building
·
Plant and Machinery
·
Office Equipment
·
Computers
·
Furniture and Fixture
·
Vehicle
Intangible Assets:
·
Technical Knowhow
·
Software
WEBSITE DETAILS:
NEWS:
HASSIA TARGETS RS.300.000 MILLIONS TURNOVER BY
2012
Pune, May 14 2009
Hassia Packaging, a packaging solutions company, today announced significant expansion plans to achieve a turnover of over Rs.300.000 millions by 2012, a jump of 100 per cent over 2008-09. Hassia Packaging is expecting to make sizeable gains in the domestic and global markets this year and the company continues to focus and invest on development of innovative packaging machinery solutions. Plans are also underway to set up satellite offices globally in conjunct with partner agencies in Africa, Far East and the Middle East. The expansion plan was outlined today at a press conference hosted by K. Ravi, managing director and CEO, Hassia Packaging Private Limited headquartered at Sanaswadi, Pune.
Hassia Packaging Private Limited is a fully owned subsidiary of Oystar holding GmbH, Germany. Oystar is among the top five packaging machinery builders in the world. Oystar operates over 17 manufacturing companies across the world and reported a turnover of around 500 million Euros in 2008.
Hassia India is also planning to double its Pune facility leading to additional recruitment in the areas of design, service, sales and supply chain within the next 3 years. The expansion will entail an investment of Rs.50.000 millions.
Expanding the work space at its Pune headquarters has become critical as Hassia rapidly grows its broad portfolio of product solutions for a wide range of sectors including Dairy, Malted food, Health drinks, Snack food, Tea, Coffee, Sugar, Salt, Detergent and Agrochemical industries.
Speaking on the occasion, K. Ravi said, "Growing demand for packaged products in both domestic and export markets has led to the realization that innovation in packaging can lead to differentiation on the shelf and added package value. Our ability to offer superior value propositions by making technology deliver speeds, better fill accuracy at a competitive price have proven to be the most compelling differentiators for Hassia Packaging in the market today.
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.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.