|
Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHIVALIK AGRO-POLY PRODUCTS LIMITED |
|
|
|
|
Registered
Office : |
Plot No1, Sector-3, Industrial Area Parwanoo, District
Solan – 173220, Himachal Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.12.1976 |
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|
|
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Com. Reg. No.: |
06-003703 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 8.860 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15131HP1976PLC003703 |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacture of Polyethylene Covers |
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|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1800000 |
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|
|
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company have a good track record. Financially
company seems to be strong. Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealing 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 |
CRISIL |
|
Rating |
Cash Credit = BBB+ |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of financial
obligation carry moderate credit risk. |
|
Date |
December 2011 |
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Bhat |
|
Designation : |
Account Department |
|
Contact No.: |
91-172-2227087 |
|
Date : |
23.07.2013 |
LOCATIONS
|
Registered Office / Factory : |
Plot No1, Sector-3, Industrial Area Parwanoo, District Solan – 173220, Himachal Pradesh, India |
|
Tel. No.: |
91-1792-233158/115 |
|
Fax No.: |
91-1792-232910 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office / Marketing Office: |
B-45, Phase III, Industrial Area, S.A.S. Nagar, Mohali – 160055, Punjab, India |
|
Tel. No.: |
91-172-2227087-88 |
|
Fax No.: |
91-172-2270349 |
|
|
|
|
Delhi Regional
Office: |
1403-04, 13th Floor, RG Trade Tower, B-7, Netaji Subhash Palace, Ring Road, Pitampura, Delhi-110034, India |
|
Tel. No.: |
91-11-30907618 / 30907620 |
|
Fax No.: |
91-11-42470477 |
|
E-Mail : |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Pankaj K. Mahajan |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mrs. Alka Mahajan |
|
Designation : |
Vice Chair Person and Director |
|
|
|
|
Name : |
Dr. G.D. Tyagi |
|
Designation : |
Executive Director (Technical and Operations) |
|
|
|
|
Name : |
Ms. Priyanka Mahajan |
|
Designation : |
Director (Legal) |
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|
|
|
Name : |
Mr. Prateek Mahajan |
|
Designation : |
Director (Administration and Public Relations) |
|
|
|
|
Name : |
Mr. Vikas Pratap, Ias |
|
Designation : |
Director (Nominee Of Punsup) |
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|
|
|
Name : |
Mr. Tushar Dasgupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjay Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Hoshiar Singh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Naresh Arora |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. M.S. Raghav |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Bhat |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Polyethylene Covers |
|
|
|
|
Products : |
·
Polythene
Film/Lay Flat Tubing ·
Polyol
and PU System ·
Flexible
Packaging |
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Cash / Credit |
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|
|
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Purchasing : |
L/C / Cash / Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· Bank of India · Allahabad Bank · Canara Bank |
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||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||
|
|
|
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Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
J.R. Khanna and Company Chartered Accountants |
|
Address : |
House No. 515 Sector 36, Chandigarh, India |
|
|
|
|
Joint Venture : |
Shivalik Prismo India Private Limited |
|
|
|
|
Company in which Directors are
interested as Directors : |
·
PJM
Management Services Private Limited ·
APPP
Infrastructures Private Limited ·
PP
Perfect Pacs Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4900000 |
Equity Shares |
Rs.10/- each |
Rs.49.000 Millions |
|
10000 |
Cumulative Preference shares |
Rs.100/- each |
Rs.1.000 Millions |
|
|
Total |
|
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
886000 |
Equity Shares |
Rs.10/- each |
Rs.8.860 Millions |
|
|
|
|
|
Reconciliation of the number of shares
and amount outstanding at the beginning and at the end of the reporting period:
|
Particulars |
Number of shares |
Rs. In Millions |
|
Opening Balance |
886000 |
8.860 |
|
Fresh issue |
-- |
-- |
|
Bonus |
-- |
-- |
|
ESOP |
-- |
-- |
|
Conversion |
-- |
-- |
|
Buy back |
-- |
-- |
|
Other changes |
-- |
-- |
|
Closing Balance |
886000 |
8.860 |
Details of shares
held by each shareholder holding more than 5% shares:
|
Particulars |
Number of shares held |
% holding in that class of shares |
|
Equity shares with voting rights |
|
|
|
Mr. Pankaj Mahajan |
569127 |
64.24 |
|
P.P. Perfect Pacs Private Limited |
85679 |
9.67 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.860 |
8.860 |
8.860 |
|
(b) Reserves & Surplus |
444.808 |
368.045 |
323.073 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
453.668 |
376.905 |
331.933 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.244 |
25.724 |
|
(b) Deferred tax liabilities (Net) |
10.758 |
10.099 |
0.595 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
10.758 |
10.343 |
26.319 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
36.512 |
7.326 |
57.169 |
|
(b) Trade payables |
32.941 |
16.329 |
33.182 |
|
(c) Other current
liabilities |
1.467 |
1.798 |
1.463 |
|
(d) Short-term provisions |
3.446 |
1.030 |
0.000 |
|
Total Current Liabilities (4) |
74.366 |
26.483 |
91.814 |
|
|
|
|
|
|
TOTAL |
538.792 |
413.731 |
450.066 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
149.025 |
153.600 |
164.334 |
|
(ii) Intangible Assets |
0.066 |
0.083 |
0.100 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.398 |
5.398 |
5.411 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
95.764 |
84.391 |
87.964 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
250.253 |
243.472 |
257.809 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
104.710 |
66.440 |
90.370 |
|
(c) Trade receivables |
153.728 |
55.622 |
78.562 |
|
(d) Cash and cash
equivalents |
12.282 |
43.190 |
13.725 |
|
(e) Short-term loans and
advances |
17.740 |
4.853 |
9.435 |
|
(f) Other current assets |
0.079 |
0.154 |
0.165 |
|
Total Current Assets |
288.539 |
170.259 |
192.257 |
|
|
|
|
|
|
TOTAL |
538.792 |
413.731 |
450.066 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
828.417 |
671.926 |
767.868 |
|
|
|
Other Income |
5.525 |
4.860 |
5.198 |
|
|
|
TOTAL (A) |
833.942 |
676.786 |
773.066 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
566.482 |
413.012 |
482.281 |
|
|
|
Purchases of stock-in-trade |
5.083 |
4.829 |
5.675 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(19.284) |
8.672 |
-19.688 |
|
|
|
Employee benefits expense |
75.749 |
65.991 |
44.580 |
|
|
|
Other expenses |
94.204 |
101.095 |
160.609 |
|
|
|
Extraordinary items |
(0.256) |
(4.658) |
3.975 |
|
|
|
TOTAL (B) |
721.978 |
588.941 |
677.432 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
111.964 |
87.845 |
95.634 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.429 |
6.357 |
10.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
105.535 |
81.488 |
85.544 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.073 |
7.488 |
8.262 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
98.462 |
74.000 |
77.282 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.494 |
14.512 |
16.639 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
77.968 |
59.488 |
60.643 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
76.086 |
NA |
|
|
TOTAL EARNINGS |
NA |
76.086 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
50.163 |
72.704 |
115.443 |
|
|
|
Purchase of Stock in Trade |
3.933 |
3.382 |
4.032 |
|
|
TOTAL IMPORTS |
54.096 |
76.086 |
119.475 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
88.00 |
67.14 |
68.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.35
|
8.79 |
7.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.89
|
11.01 |
10.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.46
|
18.12 |
17.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.20 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.08
|
0.02 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.88
|
6.43 |
2.09 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
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 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short term
Borrowing |
|
|
|
Public Deposits |
0.356 |
0.323 |
|
Total |
0.356 |
0.323 |
OPERATIONS
Turnover during the year was Rs. 828.417 Millions as against Rs. 671.926 Millions in the previous year. In the year, the Company has earned net profit after taxes of Rs.77.968 Millions as against net profit of Rs.59.487 Millions in the previous year. The net profit has increased to around 31 % over the last year thereby showing an considerable improvement in the operations of the company. The profits before taxes remained at Rs. 98.461 Millions as compare to Rs. 74.000 Millions in the last year.
FUTURE OUTLOOK
During the current year, the Company has secured substantial orders in respect of plastic film/fabricated items like Poly covers/Tarpaulins thru tenders by getting Annual Rate Contracts from Government of Punjab and Haryana, required for their various food grain procuring agencies. Besides, the company has also secured Annual Rate Contracts for Milk Film from various State Milk Federations. Further, the company has also secured annual rate contract from Rail Coach factory for supply and application of Poly Urethane System. Besides, the company is putting all endeavours to enhance its business in other sector of Industry for its various products including supply of poly thick sheets to thermal power plants in the country notwithstanding tough market competition. However, the tender business may effect due to competitive market pressure, new entrants and construction of go downs/silos in a big way for storage of food grains in a scientific manner.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY REVIEW
Film Unit
Sales of Polythene film for liquid milk packaging and cap covers/Tarpaulins for storage of food grains and others are largely thru tenders floated by State Government Undertakings, i.e milk federations and food grain procuring agencies. The product has other various industrial applications also. Demand of the above depends upon the consumption of milk and food grains crop production as also the Government Policies being framed time to time.
SHIVATHENELINOPACK(SLP)-PU
DIVISION
Sales of the products are made partially thru Government tenders and partially thru open market. Demand of the product depends upon the overall growth of the concerned industrial houses.
COMPANY'S PERFORMANCE
During the current year, the Company has successfully executed the Annual Rate contracts and other orders secured by the company in respect of plastic film/fabricated items like Poly Covers/Tarpaulins as also for Milk Film from various food grain procuring agencies and State Milk Selling Government Agencies respectively. Besides, the company has also done business in other Areas of company's business activities. There is a an increase of around over 23 % in the turnover of the company in the year as compared to last year. Further, the company has earned net profit after taxes of Rs.77.968 Millions as against net profit of Rs.59.487 Millions in the previous year. Profits before taxes have been at Rs.98.462 Millions as compare to Rs.74.000 Millions in the previous year. Employee costs at Rs.75.700 Millions (Rs.66.000 Millions), represented 8.96 % of gross operating revenue (Iastyear9.65 %). Material and traded goods expenses at Rs.571.600 Millions (417.800 Millions), represented 69 % of net revenue from operations (last year 62.18%)
Other expenses at Rs. 94.200 Millions (Rs. 101.100 Millions) represented 11.15% of gross operating revenue (last year 14.78 %). Finance burden for the year was Rs.6.400 Millions (Rs.6.400 Millions).
Depreciation and amortising charge for the year was Rs. 7.100 Millions (last year Rs.7.500 Millions). With the retained earnings of fiscal 2012-13, net worth of the company as on 31st March 2013 rose to Rs. 453.700 Millions (Rs. 376.900 Millions) comprising the components of equity and reserves. As an outcome of substantial cash flow from operations, year-end term borrowings from banks stand completely paid off. Year-end debtors were Rs. 153.700 Millions (Rs 55.600 Millions). Year-end trade payables were Rs.32.900 Millions (Rs.16.300 Millions). Gross Block and Net Block of assets respectively stood at 230.300 Millions (Rs.222.000 Millions) and Rs.149.100 Millions (Rs.153.700 Millions).
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
|
Claims against the Company not acknowledged as debt (give details) |
-- |
-- |
|
Guarantees given by banks to customers, suppliers and Custom Authorites |
13.732 |
4.072 |
|
Guarantee Given to Sales Tax authorites |
0.250 |
0.250 |
FIXED ASSETS
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Other Equipment
· Vehicles
· Electrical Installations
· Generator Set
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.59.69 |
|
|
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.69 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.