MIRA
INFORM REPORT
|
Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
P G FOILS LIMITED |
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Registered Office : |
6, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
07.11.1979 |
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Com. Reg. No.: |
04-008050 |
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Capital Investment / Paid-up Capital : |
Rs. 85.861 Millions |
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CIN No.: [Company
Identification No.] |
L27203GJ1979PLC008050 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JDHP02114A |
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PAN No.: [Permanent
Account No.] |
AAACP9274C |
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Legal Form : |
Public Limited Liability Company. The company’s shares are listed on
the stock exchanges. |
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Line of Business : |
Manufacturer and Exporter of Aluminium Foil Products |
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No. of Employees : |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3300000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a good track record. The financial
position of the company is 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 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 – 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 |
CARE |
|
Rating |
A – (Long Term Bank Facilities) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
February 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1 (short Term Bank Facilities) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
February 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 / Sales Office: |
6, Neptune Tower, Ashram Road, Ahmedabad–380009, Gujarat, India |
|
Tel. No.: |
91-79-26587606, 26587205 |
|
Fax No.: |
91-79-26584187 |
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E-Mail : |
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Website : |
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|
Area : |
5000 Sq. ft |
|
Location : |
Owned |
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Head Office / Factory: |
P.O., Pipalia Kalan, 306307, District. Pali, Rajasthan |
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Tel. No.: |
91-2937-287151/56/55 |
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Fax No.: |
91-2937-287150 |
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E-Mail : |
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Sales Office : |
Located at:
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DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Pankaj P. Shah |
|
Designation : |
Managing Director |
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|
Name : |
Mr. Abhay P. Shah |
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Designation : |
Whole time Director |
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Name : |
Mr. Vimal Dhadda |
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Designation : |
Director |
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Name : |
Mr. Hemant K. Nema |
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Designation : |
Director |
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Name : |
Mr. Sahil P. Shah |
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Designation : |
Director |
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Name : |
Mr. Udhan Kumar Chordia |
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Designation : |
Director |
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Senior Executives : |
Mr. R. M. Jain – Executive Director
(Finance) Mr. M R Jain – Additional Director (Operation) |
KEY EXECUTIVES
|
Name : |
Mr. Ramdev Singh Jetmal |
|
Designation : |
Company Secretary |
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|
Name : |
Mr. Sanjay Tiwari |
|
Designation : |
General Manager (Marketing) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2013
|
Category of
Shareholder |
No. of Shares |
% of No. of
Shares |
|
|
|
|
|
(1) Indian |
|
|
|
Individuals / Hindu Undivided Family |
856689 |
10.56 |
|
Bodies Corporate |
3432231 |
42.32 |
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|
4288920 |
52.88 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
4288920 |
52.88 |
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(1) Institutions |
|
|
|
|
|
|
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|
1301054 |
16.04 |
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Individuals |
|
|
|
Individual shareholders holding nominal share capital up to Rs. 0.100
Millions |
1437504 |
17.73 |
|
Individual shareholders holding nominal share capital in excess of Rs.
0.100 Millions |
529242 |
6.53 |
|
Any Others (Specify) |
553280 |
6.82 |
|
|
551161 |
6.8 |
|
Others |
2119 |
0.03 |
|
Sub Total |
3821080 |
47.12 |
|
Total Public shareholding (B) |
3821080 |
47.12 |
|
Total (A)+(B) |
8110000 |
100 |
|
|
0 |
0 |
|
(1) Promoter and Promoter Group |
0 |
0 |
|
(2) Public |
0 |
0 |
|
Sub Total |
0 |
0 |
|
Total (A)+(B)+(C) |
8110000 |
0 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Aluminium Foil Products |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Aluminium Foil |
MT |
10500 |
5363.660* |
|
Flexible Packaging |
MT |
1200 |
195.889 |
Note:
*Including 55.806 MT (previous year 167.848
MT) productions for the conversion of materials.
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
·
IDBVI Bank Limited ·
State Bank of Bikaner and Jaipur |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
H M Singhvi and Company Chartered Accountants |
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Address : |
Johari Bazar, Jaipur, |
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Cost Auditors : |
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Name : |
Rajesh and Company Cost Accountants |
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Address : |
Jaipur, Rajasthan, India |
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Related Parties : |
·
Prem Cables Private Limited ·
Miracle Carriers and Trading Company ·
Prem Nagar Industrial Estates Private Limited ·
Pipalia Cables and Wires Private Limited ·
Miracle Foils Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
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|
|
|
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Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8121600 |
Equity Shares |
Rs.10/- each |
Rs. 81.216
Millions |
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|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8110000 |
Equity Shares |
Rs.10/- each |
Rs. 81.100
Millions |
|
Add |
Share Forfeited |
|
Rs. 0.061 Million |
|
|
Share Warrant Forfeited Account |
|
Rs. 4.700 Millions |
|
|
TOTAL |
|
Rs. 85.861
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
85.861 |
85.861 |
|
(b) Reserves & Surplus |
|
747.278 |
687.153 |
|
(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) |
|
833.139 |
773.014 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
30.000 |
59.465 |
|
(b) Deferred tax liabilities (Net) |
|
5.429 |
5.376 |
|
(c) Other long term liabilities |
|
19.718 |
18.555 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
55.147 |
83.396 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
528.151 |
461.787 |
|
(b) Trade payables |
|
94.137 |
107.389 |
|
(c) Other current
liabilities |
|
78.315 |
129.469 |
|
(d) Short-term provisions |
|
3.418 |
19.964 |
|
Total Current Liabilities (4) |
|
704.021 |
718.609 |
|
|
|
|
|
|
TOTAL |
|
1592.307 |
1575.019 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
221.896 |
249.849 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
5.054 |
10.066 |
|
(b) Non-current Investments |
|
110.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
63.250 |
40.639 |
|
(e) Other Non-current assets |
|
0.000 |
0.015 |
|
Total Non-Current Assets |
|
400.200 |
300.569 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
85.725 |
227.477 |
|
(b) Inventories |
|
350.127 |
275.651 |
|
(c) Trade receivables |
|
471.116 |
307.965 |
|
(d) Cash and cash
equivalents |
|
202.646 |
374.513 |
|
(e) Short-term loans
and advances |
|
79.973 |
79.395 |
|
(f) Other current
assets |
|
2.520 |
9.449 |
|
Total Current Assets |
|
1192.107 |
1274.450 |
|
|
|
|
|
|
TOTAL |
|
1592.307 |
1575.019 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
81.161 |
|
|
2] Share Application Money |
|
|
4.700 |
|
|
3] Reserves & Surplus |
|
|
603.447 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
689.308 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
382.650 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
382.650 |
|
|
DEFERRED TAX LIABILITIES |
|
|
9.798 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1081.756 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
194.688 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
318.872 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
160.740
|
|
|
Sundry Debtors |
|
|
344.713
|
|
|
Cash & Bank Balances |
|
|
69.624
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
87.362
|
|
Total
Current Assets |
|
|
662.439 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
81.567
|
|
|
Other Current Liabilities |
|
|
11.745
|
|
|
Provisions |
|
|
0.975
|
|
Total
Current Liabilities |
|
|
94.287 |
|
|
Net Current Assets |
|
|
568.152
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.044 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1081.756 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1923.359 |
1413.576 |
1422.742 |
|
|
|
Other Income |
95.120 |
37.639 |
(19.188) |
|
|
|
TOTAL (A) |
2018.479 |
1451.215 |
1403.554 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1217.484 |
1007.831 |
|
|
|
|
Purchases of Traded Goods |
503.687 |
124.651 |
|
|
|
|
Employee benefits expenses |
75.357 |
73.534 |
|
|
|
|
Other expenses |
108.882 |
103.435 |
|
|
|
|
Extraordinary items |
(26.300) |
(27.933) |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and traded goods |
(51.327) |
(19.094) |
|
|
|
|
TOTAL (B) |
1827.783 |
1262.424 |
1306.511 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
190.696 |
188.791 |
97.043 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
71.483 |
29.685 |
22.625 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
119.213 |
159.106 |
74.418 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.952 |
33.227 |
20.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
83.261 |
125.879 |
53.494 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.891 |
32.102 |
24.875 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
60.370 |
93.777 |
28.619 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
361.436 |
297.116 |
268.497 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
8.110 |
0.000 |
|
|
|
Tax on Proposed Dividend |
0.000 |
1.347 |
0.000 |
|
|
|
General Reserve |
0.000 |
20.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
421.806 |
361.436 |
297.116 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
57.119 |
105.382 |
87.573 |
|
|
TOTAL EARNINGS |
57.119 |
105.382 |
87.573 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
590.057 |
105.309 |
264.484 |
|
|
|
Stores & Spares |
31.899 |
52.183 |
43.876 |
|
|
|
Capital Goods |
0.000 |
0.000 |
1.101 |
|
|
|
Traded Goods |
121.006 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
742.962 |
157.492 |
309.461 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.44 |
11.56 |
3.53 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
471.300 |
503.500 |
502.200 |
420.000 |
|
Total Expenditure |
453.400 |
491.700 |
476.500 |
462.900 |
|
PBIDT (Excl OI) |
17.900 |
11.800 |
25.800 |
(42.900) |
|
Other Income |
14.600 |
17.100 |
3.300 |
33.100 |
|
Operating Profit |
32.500 |
29.000 |
29.000 |
(9.800) |
|
Interest |
6.100 |
10.200 |
7.700 |
24.600 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
26.400 |
18.200 |
21.400 |
(34.400) |
|
Depreciation |
8.300 |
8.200 |
7.600 |
7.300 |
|
Profit Before Tax |
18.100 |
10.600 |
13.800 |
(41.700) |
|
Tax |
0.000 |
2.500 |
2.500 |
10.900 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
18.100 |
8.100 |
11.300 |
(52.600) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
59.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
18.100 |
8.100 |
11.300 |
6.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.99
|
6.46 |
2.04
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.33
|
8.91 |
3.76
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.64
|
8.04 |
6.24
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
8.04 |
0.08
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.67
|
0.67 |
0.56
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
1.77 |
7.03
|
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 |
No |
|
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
OPERATIONS (GENERAL REVIEW)
During the year
the company achieved a Gross turnover of Rs. 2074.882 Millions as against Rs.
1544.435 Millions in the previous year.
Profit before tax
was decreased to Rs. 83.262 Millions from profit of Rs. 125.879 Millions of
previous year mainly pressure on margin due to new entrants in industry and
cheaper import.
Exports have
decreased to Rs. 57.120 Millions from Rs. 105.382 Millions.
MANAGEMENT DISCUSSION AND ANALYSIS
The management of
P G Foils Limited presents the analysis of performance of the company for the year
2011-2012 and its outlook for the future. The outlook is based on assessment of
the current business environment. It may very due to future economic and other
developments.
INDUSTRY SCENARIO
The year 2011-2012
was not very encouraging year for the domestic economy attaining negligible
growth and in particular to foil industry due to cheaper import and poor growth
of Indian pharmaceutical companies and also ban on Gutka in many states.
Company expects improvement in demand due to decline in import of foil on
account of increase in Doller rate.
OPERATIONAL PERFORMANCE
Turnover during
the year increased to Rs. 2074.900 Millions by 34.34% from last year and
production for the year 4748.151 MT as against last year 5559.549 MT.
FINANCIAL PERFORMANCE
Gross turnover for
the year is Rs. 2074.900 Millions against Rs. 1544.400 Millions in last year
Profit for the
year is Rs. 83.300 Millions compared to profit of Rs. 125.900 Millions in last
year lower mainly due to competition with cheaper import, labour shortage and
discount in sales rate matching to new entrants in domestic market.
Company
contributed a total Rs. 151.500 Millions to the National Exchequer as Excise
Duty.
OPPORTUNITIES AND OUTLOOK
The Opportunities
of growth have gained momentum in use of kitchen/house foil due to more
hygienic packaging of food by suppliers as well as consumers.
The company has to
continue to be a Cost leader to protect its profit margin and market share in
this highly competitive industry.
Company expect
improvement in demand of indigenous Foil due to increase in cost of import of
foil on account of increase in Doller rate.
EXPORT
The company's
contribution to foreign exchange earnings amounted to Rs. 57.120 Millions during
the year and the total foreign exchange utilized by the company amounted to Rs.
752.032 Millions the details of which are provided in annexure to the
director's report. Company is presently exporting to various countries and
further trying to increase export to developed countries.
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles
·
Office and Computer
·
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. 59.79 |
|
|
1 |
Rs. 91.03 |
|
Euro |
1 |
Rs. 78.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.