MIRA
INFORM REPORT
|
Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAINT-GOBAIN GYPROC INDIA LIMITED [w.e.f.03.11.2008] |
|
|
|
|
Formerly Known
As : |
INDIA GYPSUM LIMITED |
|
|
|
|
Registered
Office : |
Nare and Vadavalli Village, PO Uchat, Taluka Wada, Thane - 421312,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.02.1985 |
|
|
|
|
Com. Reg. No.: |
11-165329 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 277.667
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26945MH1985PLC165329 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI05795G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI0687E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Gypsum Boards and Gypsum Based Accessories. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 10800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of ‘BPB India Limited’. It is a
well-established company having a fine track record. The financial position of the company is sound and healthy. Directors
are reported as well-experienced and knowledgeable businessmen. The company
has achieved better growth in its sales turnover and profits during 2012. Trade relations are reported as decent. Business is active. Payment
terms are regular and as per commitments. 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.
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 DECLINED BY
|
Name : |
Mr. Mitesh |
|
Designation : |
Credit Control Department |
|
Contact No.: |
91-22-40212121 |
|
Date : |
14.06.2013 |
LOCATIONS
|
Registered Office/ Plants 1 : |
Nare Vadavalli Village, PO Uchat, Taluka Wada, Thane - 421312,
Maharashtra, India |
|
Tel No. : |
91-2526-220427/ 336 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
5th Level, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra,
India |
|
Tel No. : |
91-22-40212121 |
|
Fax No. : |
91-22-40212392 |
|
E-Mail : |
|
|
|
|
|
Plants 2 : |
Plot No 10-17, KIADB Industrial Area,
Haraohalli (V) and (P) Kanakapura, (TQ), |
|
Tel No. : |
91-80-27563370 |
|
|
|
|
Plants 3 : |
Post Box No. 22, Near Jind Railway Junction,
Jind – 126102, Haryana, India |
|
Tel No. : |
91-1681-226297 |
|
|
|
|
Regional Sales Offices : |
Located at: Ahmedabad Hyderabad Bangalore Chandigarh Chennai Coimbatore Delhi NCR Jaipur Kolkata Kochi Lucknow
Pune |
DIRECTORS
AS ON 26.09.2012
|
Name : |
Mr. Subramanian Venkataraman |
|
Designation : |
Managing director |
|
Address : |
3 B/151, Kalpataru Estate, Jogeshwari Vikhroli Link Road, Andheri
[East], Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
20.11.1960 |
|
Qualification : |
BE |
|
Experience : |
30 Years |
|
Date of Appointment : |
01.04.2007 |
|
DIN No.: |
00139543 |
|
|
|
|
Name : |
Mr. Anand Yashavant Mahajan |
|
Designation : |
Director |
|
Address : |
Fiona, 3rd Floor, 176, Juhu, Tara Road, Mumbai - 400049,
Maharashtra, India |
|
Date of Birth/Age : |
03.01.1953 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
27.03.2006 |
|
Voter ID No.: |
MT/08/038/375155 |
|
DIN No.: |
00066320 |
|
|
|
|
Name : |
Mr. Joseph Andrew Jude Pereira |
|
Designation : |
Director |
|
Address : |
No. 8, Coral Reef, 55, Chimbai Road, Bandra, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
29.11.1948 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
16.12.2009 |
|
DIN No.: |
00130239 |
|
|
|
|
Name : |
Mr. David Anderson |
|
Designation : |
Director |
|
Address : |
Beech Close Farm, The Green, Car Colston, Nottingham, NG138JE, United
Kingdom |
|
Date of Birth/Age : |
17.09.1955 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02742761 |
KEY EXECUTIVES
|
Name : |
Mr. Mitesh |
|
Designation : |
Credit Control Department |
|
|
|
|
Name : |
Phani Kumar A |
|
Designation : |
Secretary |
|
Address : |
Flat No. 62, Tower IC, Kalpataru Estate, JV Link Road, Andheri [East],
Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1963 |
|
Date of Appointment : |
05.04.2012 |
|
PAN No.: |
ACDPA8017G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
BPB India Limited |
|
9234 |
|
BPB India Limited joint with Anand Mahajan |
|
1 |
|
BPB India Limited joint with Venkatraman Subramaniam |
|
1 |
|
BPB India Limited joint with Phani Kumar |
|
1 |
|
BPB India Limited joint with Shekhar Kulkarni |
|
1 |
|
Hela Holdings Private Limited, India |
|
1 |
|
Anuja Sheth |
|
15 |
|
MSPL Limited, India |
|
1 |
|
|
|
|
|
Total |
|
9255 |
AS ON 26.09.2012
|
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] |
|
99.81 |
|
Bodies
corporate |
|
0.02 |
|
Other
top fifty shareholders |
|
0.17 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Gypsum Boards and Gypsum Based Accessories. |
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Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|||||||||||||||
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Bankers : |
Not Divulged |
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|||||||||||||||
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Facilities : |
|
|||||||||||||||
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Lovelock and
Lewes, 252, Veer Savarkar Marg, Shivaji Park, Dadar [West], Mumbai – 400028,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP5579P |
|
|
|
|
Holding Companies : |
BPB India Limited - Holding Company (Holds 99.82% of the paid up equity share capital of the company) |
|
|
|
|
Ultimate Holding
Company : |
BPB Plc, the holding company of BPB India Limited is as subsidiary of Compagnie De Saint-Gobain |
|
|
|
|
Fellow Subsidiary
Companies : |
Thai Gypsum Products Plc, Thailand Saint Gobain Gypsum Shanghai Co. BPB Asia Limited Saint Gobain Construction Product (Malaysia) Sdn Bhd Saint Gobain Gyproc Middle East FZE Saint Gobain Crystal Detectors India Limited Grindwell Norton Limited Saint-Gobain Materiaux de Construction British Gypsum Saint Gobain Weber India Limited Saint Gobain Glass India Limited Saint Gobain Technical Fabric Saint Gobain Ecophon AG Gyproc A/s Saint Gobain Certain Teed Ceilings Inc SG Placo SAS BPB Limited Saint Gobain Rigips GMBH Saint Gobain Sekurit India Limited Saint
Gobain Gyproc Emirates Limited |
|
|
|
|
Companies under
common control : |
Saint Gobain India Foundation - registered under section 25 of the Companies Act, 1956. Saint
Gobain Seva Engineering India Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000 |
Equity Shares |
Rs. 30000/- each |
Rs. 750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,255 |
Equity Shares |
Rs. 30000/- each |
Rs. 277.650
Millions |
|
|
Add: Forfeited Shares |
|
Rs. 0.017
Millions |
|
|
Total |
|
Rs. 277.667 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 |
|
277.667 |
277.667 |
|
(b) Reserves & Surplus |
|
2427.533 |
2264.333 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
282.100 |
528.500 |
|
(b) Deferred tax liabilities (Net) |
|
378.800 |
306.000 |
|
(c) Other long
term liabilities |
|
52.400 |
30.800 |
|
(d) long-term
provisions |
|
58.000 |
35.600 |
|
|
|
|
|
|
(4)
Current liabilities |
|
|
|
|
(a)
Short term borrowings |
|
39.000 |
55.100 |
|
(b)
Trade payables |
|
491.700 |
520.200 |
|
(c)
Other current liabilities |
|
688.000 |
651.400 |
|
(d) Short-term
provisions |
|
10.900 |
9.400 |
|
TOTAL |
|
4706.100 |
4679.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
3046.800 |
3216.500 |
|
(ii) Intangible Assets |
|
2.700 |
1.400 |
|
(iii)
Capital work-in-progress |
|
60.300 |
37.100 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
25.000 |
25.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
107.700 |
95.500 |
|
(e)
Other Non-current assets |
|
114.500 |
97.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
496.000 |
527.100 |
|
(c) Trade receivables |
|
249.400 |
232.800 |
|
(d) Cash and cash equivalents |
|
92.000 |
91.600 |
|
(e) Short-term loans and advances |
|
264.600 |
298.700 |
|
(f) Other current assets |
|
247.100 |
56.100 |
|
TOTAL |
|
4706.100 |
4679.000 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
277.650 |
|
|
2] Share Application Money |
|
|
0.017 |
|
|
3] Reserves & Surplus |
|
|
2127.044 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2404.711 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1324.508 |
|
|
2] Unsecured Loans |
|
|
36.637 |
|
|
TOTAL BORROWING |
|
|
1361.145 |
|
|
DEFERRED TAX LIABILITIES |
|
|
242.456 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4008.312 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3395.406 |
|
|
Capital work-in-progress |
|
|
71.232 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
269.063 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
376.281 |
|
|
Sundry Debtors |
|
|
181.359 |
|
|
Cash & Bank Balances |
|
|
95.031 |
|
|
Other Current Assets |
|
|
0.157 |
|
|
Loans & Advances |
|
|
498.342 |
|
Total
Current Assets |
|
|
1151.170 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
255.030 |
|
|
Other Current Liabilities |
|
|
591.707 |
|
|
Provisions |
|
|
31.822 |
|
Total
Current Liabilities |
|
|
878.559 |
|
|
Net Current Assets |
|
|
272.611 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4008.312 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
4282.200 |
3601.700 |
3095.784 |
|
|
|
Other Income |
8.000 |
22.100 |
14.628 |
|
|
|
TOTAL (A) |
4290.200 |
3623.800 |
3110.412 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1041.300 |
837.600 |
|
|
|
|
Purchases of stock-in-trade |
924.800 |
954.500 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
62.000 |
(71.700) |
|
|
|
|
Employee benefit
expense |
354.100 |
317.900 |
|
|
|
|
Other expenses |
1397.300 |
1084.200 |
|
|
|
|
TOTAL (B) |
3779.500 |
3122.500 |
2612.699 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
510.700 |
501.300 |
497.713 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
75.900 |
101.700 |
127.286 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
434.800 |
399.600 |
370.427 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
198.800 |
198.800 |
396.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
236.000 |
200.800 |
(25.794) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
72.800 |
63.500 |
(0.551) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
163.200 |
137.300 |
(25.243) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
829.795 |
692.495 |
717.738 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
992.995 |
829.795 |
692.495 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
1.800 |
3.200 |
2.308 |
|
|
|
Raw Materials |
511.400 |
314.000 |
217.086 |
|
|
|
Stores & Spares |
2.700 |
1.800 |
4.213 |
|
|
|
Bought out Material |
187.200 |
214.600 |
125.571 |
|
|
TOTAL IMPORTS |
703.100 |
533.600 |
349.178 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
17641 |
14833 |
(2727.49) |
|
|
|
Diluted
|
17641 |
14833 |
(2727.38) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.80
|
3.79 |
(0.81) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.51
|
5.58 |
(0.83) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.37
|
4.54 |
(0.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.08 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.12
|
0.23 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
0.98 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Trade
payables |
491.700 |
520.200 |
255.030 |
|
|
|
|
|
|
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 |
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 |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
36.600 |
36.600 |
|
SHORT-TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
39.000 |
55.100 |
|
Total |
75.600 |
91.700 |
CORPORATE INFORMATION
The company is engaged
in the manufacture of Gypsum Boards and Gypsum Based Accessories, besides
trading in certain goods, which are used in tandem with the manufactured goods.
The company has manufacturing plants in India and sells primarily in India
through independent retailers. The entire operations are governed by the same
set of risk and returns. Hence, the operations have been considered as
representing a single segment. The said treatment is in accordance with the
guiding principles enunciated in the Accounting Standard on Segment Reporting
(AS-17).
OPERATIONS
In the year, the
company was able to grow its sales volume owing to increased demand for
plasterboard in domestic market. However, the Company’s market share got
adversely impacted during the year due to continued higher influx of low priced
imports from Thailand, Middle East, China, and Indonesia.
In response to
their application to the Government of India for appropriate remedial action to
curb the unfair practice of dumping primarily from the aforementioned
countries. The Ministry of Commerce, Government of India has conducted
investigation and issued a preliminary finding and imposed provisional anti-
dumping duty for allowing level playing field. We expect the final finding of
the same in coming months.
During the year,
Company witnessed significantly higher inflationary pressure largely due to
higher fuel prices and other energy costs. Also prevailing volatility in
exchange rates impacted cost of imported raw material.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
Claims against the Company not acknowledged as debt * |
4.900 |
5.000 |
|
Bank Guarantees and Foreign Letters of Credit outstanding* |
42.400 |
23.000 |
|
Sales tax Matters* |
21.200 |
2.500 |
|
Service tax Matters* |
22.100 |
22.300 |
|
Customs Matter* |
2.600 |
0.000 |
|
Excise Matters* |
235.500 |
139.300 |
|
Total |
328.700 |
192.100 |
|
Note: *The timing and amount of cash flows, if any that may arise from the
above matters will be determined only on settlement of the cases. |
||
FIXED ASSETS:
Land
Buildings
Factory building
Furniture and fixtures
Vehicles
Motor vehicles
Office equipment
Other equipments
Plantations
Computer software
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. 57.74 |
|
|
1 |
Rs. 90.64 |
|
Euro |
1 |
Rs. 77.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
59 |
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.