MIRA
INFORM REPORT
|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
HITECH BIO SCIENCES INDIA LIMITED |
|
|
|
|
Registered
Office : |
C-2, Unit No.102-103, Saudamini Complex, SA No.101/1, Bhusari Colony,
Paud Road, Kothrud, Pune-411038, Maharashtra
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-130033 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232PN2007PLC130033 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of API Intermediates, Probiotics, Perfume
Chemicals and Flavoring Products, Liaison work. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 310000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Flagship company of the “HTBS GROUP”. It is an established company having a moderate track record. The company
has recorded modest scale of business operation. The reserve of the company
seems to be low. However, the financial position seems to be improving and company has
recorded better growth results sales and profit during 2012. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with slight
caution. |
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 |
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 / Corporate Office / Research and Development Centre : |
C-2, Unit No.102-103, Saudamini Complex, SA No.101/1, Bhusari Colony,
Paud Road, Kothrud, Pune-411038, Maharashtra, India |
|
Tel. No.: |
91-20-25285426 / 22923271 / 22923480 |
|
Fax No.: |
91-20-25285026 / 22923481 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
API Manufacturing Facilities Supa-Parner, MIDC Industrial Area, Opposite Jaffa, Taluka Parner,
District Ahmednagar, Maharashtra,
India |
|
|
|
|
Factory 2 : |
Survey No.297+298, 304, 306, Plot No.6, 8 and 10, Ambadvet Industrial
Estate, Sutarwadi, Behind Datta Mandir, Post Paud, Taluka Mulshi, District
Pune-412108, Maharashtra, India |
|
Tel. No.: |
91-22-67903000 |
|
Fax No.: |
91-22-67903001 |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Raghavendra Prabhakar Gaikaiwari |
|
Designation : |
Managing Director |
|
Address : |
B 11/12, Harshada Apartments, Maaganesh Colony, Paud Road, Kothrud,
Pune-411038, Maharashtra, India |
|
Date of Birth/Age : |
24.11.1965 |
|
Date of Appointment : |
24.04.2007 |
|
DIN No.: |
00144609 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U73100PN2001PTC015987 |
SCI - MOLECULES
INDIA PRIVATE LIMITED |
Whole-time
director |
22-03-01 |
22-03-01 |
01-04-07 |
Active |
NO |
|
2 |
U29299PN2001PTC016072 |
SYNERGIE
ECOSOLUTIONS PRIVATE LIMITED |
Whole-time
director |
20-04-01 |
20-04-01 |
- |
Active |
NO |
|
3 |
U29297PN2001PTC015911 |
BIO-CHEM
ENGINEERING PRIVATE LIMITED |
Whole-time
director |
28-11-01 |
28-11-01 |
- |
Active |
NO |
|
4 |
U73100PN2001GAT016310 |
HI-TECH BIO
LABORATORIES |
Director |
10-07-06 |
10-07-06 |
- |
Active |
NO |
|
5 |
U24232PN2007PLC130033 |
HITECH BIO
SCIENCES INDIA LIMITED |
Managing
director |
08-06-12 |
24-04-07 |
- |
Active |
NO |
|
6 |
L99999MH1989PLC050528 |
HARI GOVIND
INTERNATIONAL LIMITED |
Additional
director |
30-07-07 |
30-07-07 |
- |
Active |
|
|
7 |
U51397MH2002PTC137102 |
AYUSHAKTI HEALTH
CARE PRIVATE LIMITED |
Director |
18-02-10 |
18-02-10 |
- |
Active |
NO |
|
8 |
U24233PN2011PLC140284 |
EQUINOX HERBALS
LIMITED |
Director |
27-07-11 |
27-07-11 |
- |
Strike off |
NO |
|
Name : |
Mr. Sudhir Madhusudan Gadgil |
|
Designation : |
Director |
|
Address : |
425/14, TMV Colony, TV Nagar, Pune-411037, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1945 |
|
Date of Appointment : |
24.04.2007 |
|
DIN No.: |
01555020 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U73100PN2001GAT016310 |
HI-TECH
BIO LABORATORIES |
Director |
10-07-01 |
10-07-01 |
Active |
NO |
|
2 |
U24232PN2007PLC130033 |
HITECH
BIO SCIENCES INDIA LIMITED |
Director |
24-04-07 |
24-04-07 |
Active |
NO |
|
3 |
U24233PN2011PLC140284 |
EQUINOX
HERBALS LIMITED |
Additional
director |
20-07-12 |
20-07-12 |
Strike
off |
NO |
|
Name : |
Ms. Vijayalaxmi Prabhakar Gaikaiwari |
|
Designation : |
Director |
|
Address : |
B 11/12, Harshada Apartments, Maaganesh Colony, Paud Road, Kothrud, Pune-411038,
Maharashtra, India |
|
Date of Birth/Age : |
30.10.1939 |
|
Date of Appointment : |
24.04.2007 |
|
DIN No.: |
01555106 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Raghavendra Prabhakar Gaikaiwari |
3660000 |
|
Sudhir Madhusudan Gadgil |
15000 |
|
Jagdish Vinayak Gaikaiwari |
7500 |
|
Srinivas Tryambak Punde |
7500 |
|
Gundu Bahurao PAwashere |
15000 |
|
Shilpa Anil Wagh |
30000 |
|
Vijayalaxmi Prabhakar Gaikaiwari |
15000 |
|
TOTAL
|
3750000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Jayashree Kori |
200000 |
|
M/JNT Finance Company, India |
1000000 |
|
TOTAL
|
1200000 |
AS ON 30.03.2013
|
Names of Alottees |
No. of Shares |
|
Raghavendra Prabhakar Gaikaiwari |
50000 |
|
TOTAL
|
50000 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
98.60 |
|
Other top fifty shareholders |
1.40 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of API Intermediates, Probiotics, Perfume
Chemicals and Flavoring Products, Liaison work. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Erandvana Branch, Opposite S
N D T Near Flyover Karve Road, Pune-411004, Maharashtra, India ·
HDFC Bank ·
ICICI Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Financial Institution : |
Department of Biotechnology, Block-2, C g O Complex, Lodhi Road, New
delhi-110003, India |
|
|
|
|
Auditors : |
|
|
Name : |
SNDA and Associates Chartered Accountant |
|
Address : |
2, alankar Apartment, S No.26/14, Shivajinagar, Near Sakhar Sankul,
Pune-411005, Maharashtra, India |
|
PAN No.: |
ACFPG3167P |
|
|
|
|
Sister Concern : |
·
Hi tech Analytical Work ·
Hi Tech Bio Laboratories ·
Sci Molecules India Private Limited ·
Synergie Ecosolutions Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs. 55.000 Millions |
|
1500000 |
Preference Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
TOTAL |
|
Rs. 70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3750000 |
Equity Shares |
Rs.10/- each |
Rs. 37.500
Millions |
|
1200000 |
1% Redeemable Preference Shares |
Rs.10/- each |
Rs. 12.000 Millions |
|
|
TOTAL |
|
Rs. 49.500 Millions |
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs. 55.000 Millions |
|
1500000 |
Preference Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
TOTAL |
|
Rs. 70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3750000 |
Equity Shares |
Rs.10/- each |
Rs. 37.500
Millions |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
Million |
|
1200000 |
1% Redeemable Preference Shares |
Rs.10/- each |
Rs. 12.000 Millions |
|
|
TOTAL |
|
Rs. 50.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
49.500 |
37.500 |
37.500 |
|
|
2] Share Application Money |
3.000 |
3.000 |
3.000 |
|
|
3] Reserves & Surplus |
26.658 |
19.544 |
13.758 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
79.158 |
60.044 |
54.258 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.342 |
33.398 |
13.078 |
|
|
2] Unsecured Loans |
16.883 |
44.515 |
53.872 |
|
|
TOTAL BORROWING |
47.225 |
77.913 |
66.950 |
|
|
DEFERRED TAX LIABILITIES |
0.857 |
0.871 |
0.702 |
|
|
|
|
|
|
|
|
TOTAL |
127.240 |
138.828 |
121.910 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
77.807 |
85.660 |
44.593 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
38.933 |
|
|
|
|
|
|
|
|
INVESTMENT |
6.153 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.113
|
11.427 |
8.592 |
|
|
Sundry Debtors |
22.610
|
24.213 |
6.758 |
|
|
Cash & Bank Balances |
4.883
|
3.534 |
0.357 |
|
|
Other Current Assets |
18.405
|
20.570 |
54.522 |
|
|
Loans & Advances |
32.766
|
31.386 |
0.185 |
|
Total
Current Assets |
95.777
|
91.130 |
70.414 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
41.112
|
27.560 |
27.164 |
|
|
Other Current Liabilities |
11.385
|
10.402 |
2.442 |
|
|
Provisions |
0.000
|
0.000 |
2.663 |
|
Total
Current Liabilities |
52.497
|
37.962 |
32.269 |
|
|
Net Current Assets |
43.280
|
53.168 |
38.145 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.239 |
|
|
|
|
|
|
|
|
TOTAL |
127.240 |
138.828 |
121.910 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
104.392 |
94.735 |
25.738 |
|
|
|
Other Income |
3.578 |
3.257 |
26.518 |
|
|
|
TOTAL (A) |
107.970 |
97.992 |
52.256 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
32.361 |
31.589 |
|
|
|
|
Employee Benefits Expenses |
22.499 |
14.141 |
|
|
|
|
Operations and Other Expenses |
30.273 |
29.942 |
|
|
|
|
Miscellaneous Expenses W/Off |
0.120 |
0.120 |
|
|
|
|
Changes in Inventories of Finished Goods, Work In Progress and Stock
in Trade |
(5.619) |
(1.609) |
|
|
|
|
TOTAL (B) |
79.634 |
74.183 |
34.787 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.336 |
23.809 |
17.469 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.534 |
3.971 |
3.134 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.802 |
19.838 |
14.335 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.256 |
11.431 |
5.520 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
10.546 |
8.407 |
8.815 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.433 |
2.620 |
2.758 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.113 |
5.787 |
6.057 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19.545 |
13.758 |
7.701 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
26.658 |
19.545 |
13.758 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.90 |
1.54 |
1.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.59
|
5.91 |
11.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.10
|
8.87 |
34.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.08
|
4.76 |
7.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.14 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60
|
1.30 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82
|
2.40 |
2.18 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Loan From Banks |
|
|
|
Loan From ICICI Bank (Paid in two half yearly installments) |
0.000 |
16.492 |
|
Loans from TIFAC (Payable in half yearly installments till October
2014) |
11.933 |
15.573 |
|
Short Term
Borrowings |
|
|
|
Loans Payable on
Demand from Directors |
|
|
|
Loan From Raghvendra P Gaikaiwari |
4.950 |
12.450 |
|
|
|
|
|
TOTAL |
16.883 |
44.515 |
CORPORATE
INFORMATION
Subject was incorporated in India as a Limited Company on May 09, 2007.
The Company is engaged in the business of Manufacturing and Marketing of
API Intermediates, Probiotics, Perfume Chemicals and Flavoring Products,
Liaison work.
FORM 8
|
Corporate
identity number of the company |
U24232PN2007PLC130033 |
|
Name of the
company |
HITECH BIO
SCIENCES INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-2, Unit No.102-103, Saudamini Complex, SA No.101/1, Bhusari Colony,
Paud Road, Kothrud, Pune-411038, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Department of Biotechnology, Block-2, C G O Complex, Lodhi Road, New
delhi-110003, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 29th May 2012 read with the agreement executed between Department
of Biotechnology and M/s. HITECH BIO SCIENCES INDIA LIMITED |
|
Date of
instrument Creating the charge |
29.05.2012 |
|
Amount secured by
the charge |
Rs. 5.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Nil Terms of repayment Repayable in 10
equal yearly installments starting six months after completion of the project Margin 61.48% Extent and operation of the charge The whole of
movable and immovable properties acquired from loan sanctioned by the DBT
under the SBIRI scheme including its movable plant and machinery, machinery
spares, tools and accessories and other movables both present and future
(save and except book debts) |
|
Short particulars
of the property charged (Including location of the property) |
The whole of
movable and immovable properties acquired from loan sanctioned by the DBT
under the SBIRI scheme The above movable
and immovable properties includes movable
plant and machinery, machinery spares, tools and accessories and other
movables both present and future (save and except book debts) |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installations
·
Vehicles
·
Computer
·
Office Equipments
·
Furniture
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. 56.86 |
|
|
1 |
Rs. 87.64 |
|
Euro |
1 |
Rs. 74.51 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.