MIRA
INFORM REPORT
|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADM AGRO INDUSTRIES LATUR AND VIZAG PRIVATE LIMITED (w.e.f.18.10.2011) |
|
|
|
|
Formerly Known
As : |
TINNA OILS AND CHEMICALS PRIVATE LIMITED (w.e.f.18.10.2011) TINNA OILS AND CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
Khaitan House, B-1, Defence Colony, New Delhi - 110024 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.10.1991 |
|
|
|
|
Com. Reg. No.: |
55-083071 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 169.168 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15143DL1991PTC083071 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Refined Oil, Food Oil, Sunflower Oil etc. |
|
|
|
|
No. of Employees
: |
375 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 960000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘ADM Interoceanic Limited, Mauritius’. It
is an established company having a moderate track record. The company has incurred heavy loss from its operations during 2012.
The continuous loss from its operation is leading to deterioration in the
reserves. The external borrowings tend to be increasing. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
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 PARTED BY
|
Name : |
Mr. Mahendra Yadav |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9890190306 |
|
Date : |
17.06.2013 |
LOCATIONS
|
Registered Office : |
Khaitan House, B-1, Defence Colony, New Delhi – 110024, India |
|
Tel. No.: |
91-11-46501000 |
|
Fax No.: |
91-11-24337958 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Plot No.4-75-86, MIDC Industrial Area, Latur – 413512, Maharashtra,
India |
|
Tel. No.: |
91-2382-300144 |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Sharad Sridhar |
|
Designation : |
Director |
|
Address : |
1496, Sector 15, Part – II, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
25.12.1978 |
|
Date of Appointment : |
24.10.2011 |
|
DIN No.: |
03620373 |
|
|
|
|
Name : |
Mr. Rajendra Dattatraya Nimbhorkar |
|
Designation : |
Director |
|
Address : |
Sarveshyam, Sachhidananda Naagr, Behind Hotel Ashamegha, Opposite
Mahadev Temple, Latur – 413531, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1971 |
|
Date of Appointment : |
22.11.2011 |
|
DIN No.: |
03622008 |
|
|
|
|
Name : |
Mr. Ananthaswamyrao Raghavendra Rao |
|
Designation : |
Director |
|
Address : |
No. 49, 1st Main Raod, Maruti Extension Srirampuram Bangalore
– 560021, Karnataka, India |
|
Date of Birth/Age : |
19.06.1966 |
|
Date of Appointment : |
22.11.2011 |
|
DIN No.: |
05116052 |
|
|
|
|
Name : |
Mr. Gautam Khaitan |
|
Designation : |
Alternate Director |
|
Address : |
N-12, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
06.05.1965 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
00021117 |
KEY EXECUTIVES
|
Name : |
Mr. Sagar Bhatia |
|
Designation : |
Secretary |
|
Address : |
Pushpraj Colony, Lane No. 3A, Satna – 485001, Madhya Pradesh, India |
|
Date of Birth/Age : |
30.01.1980 |
|
Date of Appointment : |
01.07.2010 |
|
PAN No.: |
ALXPB3555D |
|
|
|
|
Name : |
Mr. Mahendra Yadav |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
ADM Interoceanic Limited, Mauritius |
|
12687593 |
|
ADM Concentrated Toco Limited, Mauritius |
|
1 |
|
ADM Indonesian Holdings Limited, Mauritius |
|
1 |
|
Archer Daniels Midland Singapore Pte Limited, Singapore |
|
1 |
|
ADM Cocoa Pte Limited, Singapore |
|
1 |
|
ADM Agro Industries India Private Limited, India |
|
4229199 |
|
|
|
|
|
Total |
|
16916796 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
75.00 |
|
Bodies corporate |
25.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Refined Oil, Food Oil, Sunflower Oil etc. |
|
|
|
|
Exports : |
|
|
Products : |
·
Refined Oil ·
Food Oil ·
Sunflower Oil |
|
Countries : |
·
Indonesia ·
Europe ·
Singapore ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
375 (Approximately) |
|
|
|
|
Bankers : |
·
City Bank, Navi Mumbai, Maharashtra, India ·
HDFC Bank Limited |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Ratan S Mama and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Auditors 2 : |
|
|
|
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
Golf View Corporate Tower -B,Sector-42, Sector Road, Gurgaon – 122002,
Haryana, India |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Ultimate Holding
Company: |
Archer Daniels Midland (ADM) Company, U.S.A. |
|
|
|
|
Holding Company: |
ADM Interoceanic Limited, Mauritius |
|
|
|
|
Fellow
Subsidiaries: |
·
Toepfer International Asia Private Limited,
Singapore ·
Toepfer India Private Limited, India (Formerly
Alfred C Toepfer (India) Export Private Limited) CIN: U15142MH1982PTC027550 ·
ADM Agro Industries India Private Limited, India CIN: U01403DL2009PTC189874 ·
ADM Cocoa Pte Limited, Singapore ·
ADM Agro Industries Dharwad Private Limited,
India (Formerly Tinna Agro Industries Limited) CIN: U74999DL2004PTC124262 ·
ADMISI Commodities Private Limited, India CIN: U74140MH2006PTC163998 ·
ADM Agro Industries Kota and Akola Private
Limited, India (Formerly Geepee Agri
Private Limited) CIN: U15493DL1991PTC205408 |
|
|
|
|
|
|
|
Group Company : |
·
Kota and Akola Private Limited ·
ADM India Agro Industries Limited ·
ADM Kota and Akola Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27000000 |
Equity Shares |
Rs.10/- each |
Rs. 270.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16916796 |
Equity Shares |
Rs.10/- each |
Rs. 169.168
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 |
|
169.168 |
169.168 |
|
(b) Reserves & Surplus |
|
71.910 |
242.618 |
|
(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 |
|
229.932 |
114.159 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
13.679 |
16.536 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
608.000 |
378.000 |
|
(b) Trade payables |
|
363.932 |
162.083 |
|
(c) Other current
liabilities |
|
253.779 |
639.924 |
|
(d) Short-term provisions |
|
130.992 |
116.418 |
|
TOTAL |
|
1841.392 |
1838.906 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
209.919 |
239.378 |
|
(ii) Intangible Assets |
|
2.771 |
1.680 |
|
(iii) Capital
work-in-progress |
|
0.556 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
14.562 |
|
(d) Long-term Loan and Advances |
|
148.027 |
127.585 |
|
(e) Other Non-current assets |
|
1.867 |
3.540 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
861.263 |
879.120 |
|
(c) Trade receivables |
|
375.855 |
334.520 |
|
(d) Cash and cash
equivalents |
|
147.423 |
182.120 |
|
(e) Short-term loans and
advances |
|
93.343 |
56.401 |
|
(f) Other current assets |
|
0.368 |
0.000 |
|
TOTAL |
|
1841.392 |
1838.906 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
169.168 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
252.959 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
422.127 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.256 |
|
|
2] Unsecured Loans |
|
|
404.919 |
|
|
TOTAL BORROWING |
|
|
405.175 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
827.302 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
252.370 |
|
|
Capital work-in-progress |
|
|
4.093 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
29.833 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
322.707
|
|
|
Sundry Debtors |
|
|
336.903
|
|
|
Cash & Bank Balances |
|
|
34.172
|
|
|
Other Current Assets |
|
|
4.836
|
|
|
Loans & Advances |
|
|
105.906
|
|
Total
Current Assets |
|
|
804.524
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
128.172
|
|
|
Other Current Liabilities |
|
|
26.707
|
|
|
Provisions |
|
|
108.639
|
|
Total
Current Liabilities |
|
|
263.518
|
|
|
Net Current Assets |
|
|
541.006
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
827.302 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
7791.542 |
6115.753 |
4927.311 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
7928.053 |
6066.710 |
4858.237 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(136.511) |
49.043 |
69.074 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
32.136 |
31.264 |
34.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(168.647) |
17.779 |
34.646 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.061 |
28.120 |
15.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(170.708) |
(10.341) |
18.709 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
41.202 |
51.543 |
32.834 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(129.506) |
41.202 |
51.543 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (on F.O.B value) |
0.858 |
0.000 |
|
|
|
|
Commission |
0.021 |
0.175 |
|
|
|
TOTAL EARNINGS |
0.879 |
0.175 |
4.973 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
97.719 |
28.201 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.09 |
NA |
NA |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
8050.000 |
Expected Sales (203-2014): Rs.8200.000 Millions
The above information has been parted by Mr. Mahendra Yadav (Finance
Head)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.11)
|
(0.29) |
0.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.94)
|
0.97 |
4.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.68)
|
0.04 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.48
|
1.20 |
0.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.12 |
3.05 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
363.932 |
162.083 |
128.172 |
|
|
|
|
|
|
Total |
363.932 |
162.083 |
128.172 |
|
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 |
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 |
Yes |
|
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) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Borrowing from foreign companies |
229.932 |
114.159 |
|
Total |
229.932 |
114.159 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from others |
158.000 |
0.000 |
|
Working capital loans from banks |
450.000 |
378.000 |
|
Total |
608.000 |
378.000 |
CONTINGENT
LIABILITIES *:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
Differential amount of custom duty in
respect of machinery imported under EPCG scheme covered under export
obligation. |
4.146 |
4.146 |
|
Demand raised by Vishakhapatnam Port Trust
(VPT) on account of wharfage charges for the minimum guaranteed traffic during
the period from 23.02.1996 to 22.02.2001 ** |
31.646 |
31.646 |
|
Income Tax demand in respect of financial
year 2005-06 and 2006-07. Company has filed appeal against the said order. |
118.178 |
118.178 |
|
Service tax liability towards nonpayment of service
tax under “Storage and Warehousing Services”/”Excess Utilization of
Credit”/“Non Maintenance of Separate
Accounts” for the period 2004-2009 |
39.207 |
19.604 |
|
Service tax liability towards excess utilization
of credit for the period 2009-10 and 2010-11 |
5.083 |
5.129 |
|
Service Tax Liability on Transport of goods
by road for the period 2006-07 to
2010-11 |
2.539 |
0.000 |
|
Note: * On the basis of the current status of the individual
case and as per legal advice obtained by the company, where ever applicable,
the Company in confident of winning the above cases and is of view that no
provision is required in respect of these cases. ** Vishakhapatnam Port Trust (VPT) had raised
a demand of Rs.31.646 Millions (Previous year Rs.31.646 Millions exclusive of
interest on account of wharfage charges for the minimum guaranteed throughput
(MGT) during the period from 23.02.1996 to 22.02.2001. VPT had recovered
Rs.0.625 Million by invoking a Bank Guarantee issued by the Company. In the year 1998, the Company referred the
matter for arbitration. The Arbitrator vide its award dated August 27, 2003
allowed the requisite amendment with effect from the period February 23, 1997 to February 22, 1998 and ordered for the calculation of
short fall @ Rs.9 per ton. The Company filed a petition in District Court
under section 34 of Arbitration and Conciliation Act, 1996 to set aside award
dated August 27, 2003 passed by the Arbitrator. The District Court vide its
order dated January 21, 2010 upheld the award of Arbitrator and dismissed the
petition. The Company has filed an appeal against the order of District Court
in the Hon’ble High Court, Hyderabad. The matter is pending with the
Honorable High Court, Hyderabad |
||
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
Intangible assets
·
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.57.73 |
|
|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.