MIRA
INFORM REPORT
|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
HYDERABAD CHEMICALS LIMITED (w.e.f.15.09.2005) |
|
|
|
|
Formerly Known
As : |
HYDERABAD CHEMICAL SUPPLIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4-3-377, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.01.1954 |
|
|
|
|
Com. Reg. No.: |
01-000736 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 3.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230AP1954PLC000736 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABSH1014K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Chemicals and Pesticides. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4671000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record.
There appears dip in its sales and profitability during 2012. However, general financial strength seems to be strong. Networth of
the company is good. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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) |
|
|
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 : |
4-3-377, |
|
Tel. No.: |
91-40-24756927 |
|
Fax No.: |
91-40-23772599 |
|
E-Mail : |
|
|
Web Site: |
|
|
|
|
|
Factory 1 : |
A 24/25, APIE Balanagar, Hyderabad-500037, |
|
Tel. No.: |
91-40-23773906/23772651/247556927 |
|
Fax No.: |
91-40-23772595 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Phase-II, Lane IV
A, SIDCO Industrial Complex, |
|
Tel. No.: |
91-1923-221665 |
|
Fax No.: |
91-1923-221665 |
|
E-Mail : |
DIRECTORS
As on 28.08.2012
|
Name : |
Mr. Nellore Sukumar |
|
Designation : |
Managing Director |
|
Address : |
6-3-883/A/10, |
|
Date of Birth/Age : |
02.10.1951 |
|
Date of Appointment : |
11.06.1990 |
|
DIN No.: |
00462316 |
|
PAN No.: |
AAHPR8333C |
|
|
|
|
Name : |
Mr. Dipesh Kantisen Shroff |
|
Designation : |
Director |
|
Address : |
Sanket 39 Hatkesh Society, No.6 N S Road Juhu, No.6, Ville Parle
(West), Mumbai - 400056, |
|
Date of Birth/Age : |
03.02.1960 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00030792 |
|
PAN No.: |
AJMPS3622D |
|
|
|
|
Name : |
Mrs. Shruti Atul Shroff |
|
Designation : |
Director |
|
Address : |
7, Charotar Society, |
|
Date of Birth/Age : |
24.09.1950 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00019693 |
|
PAN No.: |
AACPS7329E |
MAJOR SHAREHOLDERS
As on 28.08.2012
|
Names of shareholders |
|
No. of Shares |
|
Dipesh Kantisen Shroff |
|
28680 |
|
|
|
26100 |
|
Shruti Atul Shroff |
|
31180 |
|
Preeti Dipesh Shroff |
|
10000 |
|
Chanda Kantisen Shroff |
|
15000 |
|
Chanda Kantisen Shroff |
|
15000 |
|
|
|
20020 |
|
|
|
5000 |
|
N Ram Chaitanya |
|
5000 |
|
Atul Govindji Shroff |
|
15000 |
|
Atul Govindji Shroff |
|
9000 |
|
Anshul Amrish Bhatia |
|
3000 |
|
|
|
3000 |
|
Ashwin Champraj Shroff |
|
15000 |
|
Usha Ashwin Shroff |
|
15000 |
|
Hrishit Ashwin Shriff |
|
18000 |
|
Sanjay K Gandhi |
|
8150 |
|
Shaila Shashikumar Shroff |
|
3000 |
|
Maya K Gandh |
|
9950 |
|
Jyotsna Jyoti Bhatt |
|
15000 |
|
Ramesh Chandra Premji |
|
3000 |
|
Nilima J. Gandhi |
|
1500 |
|
Jyotindra K. Gandhi |
|
7200 |
|
G. Sarana Basappa |
|
300 |
|
B. Mallesh |
|
300 |
|
Narendra K. Gandhi |
|
5220 |
|
K. Durga Prasad |
|
300 |
|
B. bellard |
|
600 |
|
P.S.N. Murthy |
|
600 |
|
B. Sulochana |
|
600 |
|
Parag J Gandhi |
|
300 |
|
K. Simhanchalam |
|
600 |
|
S. Mallesh |
|
300 |
|
L Simhanchalam |
|
600 |
|
Lalubhai Sisodia |
|
600 |
|
P. Ashappa |
|
300 |
|
M. Vijaya Lakshmi |
|
300 |
|
V. S. Sastry |
|
600 |
|
Hiral T. Dayal |
|
3000 |
|
G. Padmavati |
|
600 |
|
L. Janaki |
|
100 |
|
Ranjan Kishor Shroff |
|
3000 |
|
Total |
|
300000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.08.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
60.00 |
|
Other top fifty shareholders |
40.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemicals and Pesticides. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity MT/KL |
Actual
Production MT/KL |
|
Agro Chemicals and Pesticides |
NA |
12,200 |
11,106 |
|
Wind Power |
NA |
7.40mw |
96.02kwh |
Note:
·
Installed capacity has
been certified by the Management on which the Auditors relied.
·
Material Purchased in
bulk to meet repacked sales is included in production.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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||||||||||||||||||||||||
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||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raju and Prasad Chartered Accountant |
|
Address : |
401, Diamond House, Amrutha Hills, Punjagutta, |
|
Tel. No.: |
91-40-23410404 |
|
Fax No.: |
91-40-23410403 |
|
E-Mail : |
|
|
PAN No.: |
AACFR2404H |
|
|
|
|
Subsidiaries : |
CIN No.: U01112AP2009PLC063224
CIN No.: U24239AP1990PTC011356 |
|
|
|
|
Enterprises
which are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
CIN No.: U51100GJ1987PLC009487
CIN No.: L74999MH1964PLC012878
CIN No.: L24200MH1960PLC011807 |
CAPITAL STRUCTURE
As on 22.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs. 10/-
each |
Rs. 3.000
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 |
|
3.000 |
3.000 |
|
(b) Reserves & Surplus |
|
1164.776 |
1085.886 |
|
(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 |
|
144.425 |
28.363 |
|
(b) Deferred tax liabilities (Net) |
|
62.477 |
57.977 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
3.107 |
3.146 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
26.130 |
44.723 |
|
(b) Trade payables |
|
153.152 |
133.029 |
|
(c) Other current
liabilities |
|
122.509 |
102.095 |
|
(d) Short-term provisions |
|
52.302 |
83.531 |
|
TOTAL |
|
1731.878 |
1541.750 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
602.832 |
330.400 |
|
(ii) Intangible Assets |
|
6.922 |
8.052 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
59.423 |
59.423 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
203.927 |
206.956 |
|
(e) Other Non-current assets |
|
13.906 |
1.988 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
417.942 |
468.892 |
|
(c) Trade receivables |
|
239.599 |
267.929 |
|
(d) Cash and cash
equivalents |
|
48.049 |
48.732 |
|
(e) Short-term loans and
advances |
|
131.856 |
149.378 |
|
(f) Other current assets |
|
7.422 |
0.000 |
|
|
|
844.868 |
934.931 |
|
TOTAL |
|
1731.878 |
1541.750 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
939.810 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
942.810 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3.506 |
|
|
2] Unsecured Loans |
|
|
30.817 |
|
|
TOTAL BORROWING |
|
|
34.323 |
|
|
DEFERRED TAX LIABILITIES |
|
|
57.415 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1034.548 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
337.308 |
|
|
Capital work-in-progress |
|
|
15.192 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
46.756 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
389.218
|
|
|
Sundry Debtors |
|
|
187.314
|
|
|
Cash & Bank Balances |
|
|
122.881
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
292.161
|
|
Total
Current Assets |
|
|
991.574 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
97.209 |
|
|
Other Current Liabilities |
|
|
152.995 |
|
|
Provisions |
|
|
106.078 |
|
Total
Current Liabilities |
|
|
356.282 |
|
|
Net Current Assets |
|
|
635.292 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1034.548 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2187.769 |
2313.209 |
1812.175 |
|
|
|
Other Income |
23.651 |
20.733 |
57.166 |
|
|
|
TOTAL (A) |
2211.420 |
2333.942 |
1869.341 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1229.576 |
1385.670 |
|
|
|
|
Purchase of stock-in-trade |
138.936 |
174.422 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
56.864 |
(63.304) |
|
|
|
|
Employee Benefit Expenses |
90.243 |
77.504 |
|
|
|
|
Other Expenses |
496.334 |
489.018 |
|
|
|
|
TOTAL (B) |
2011.953 |
2063.310 |
1523.626 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
199.467 |
270.632 |
345.715 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.517 |
0.785 |
132.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
186.950 |
269.847 |
212.805 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
44.423 |
32.643 |
29.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
142.527 |
237.204 |
183.292 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
32.500 |
59.893 |
29.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
110.027 |
177.311 |
154.057 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
57.843 |
56.767 |
48.778 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
6.000 |
6.000 |
6.000 |
|
|
|
Proposed Final Dividend |
21.000 |
21.000 |
16.500 |
|
|
|
Tax on Dividend |
4.137 |
4.235 |
3.569 |
|
|
|
Transfer to General Reserve |
75.000 |
145.000 |
120.000 |
|
|
BALANCE CARRIED
TO THE B/S |
61.733 |
57.843 |
56.767 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
1.780 |
1.500 |
|
|
TOTAL EARNINGS |
0.000 |
1.780 |
1.500 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
91.827 |
115.916 |
146.384 |
|
|
TOTAL IMPORTS |
91.827 |
115.916 |
146.384 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
366.00 |
591.00 |
514.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.98
|
7.60
|
8.24
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.51
|
10.25
|
10.11
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.80
|
10.63
|
13.79
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.22
|
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15
|
0.07
|
0.04
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39
|
2.57
|
2.78
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
LONG TERM VORROWING |
|
|
|
Deferred Sales
Tax Loan |
24.770 |
28.363 |
|
Total |
24.770 |
28.363 |
OVERVIEW:
The financial year
2011-12 started off on an encouraging note with good Monsoon and normal sowing
in most of the regions with spurt in demand for Agrochemicals, both formulations
and actives. The second half of the year, however, witnessed huge slump in the
demand due to various factors like poor Rabi acreage, crop holidays in select
segments and low pest intensity. The situation was aggravated by a steep rise
in Dollar exchange rate resulting in increased input cost, which the industry
was not able to pass on to the market, eventually leading to erosion of sale
margins coupled with negative growth. The silver lining has been that due to
initiatives taken by Government, illegal Imports from
PERFORMANCE:
The year 2011-12
was a year of consolidation for Hyderabad Chemicals Limited, subsidiaries
Hyderabad Chemical Products Limited and Neo Seeds India Limited after a steep
growth during the previous year 2010-11. The combined sales of HCL, HCPL and
NSIL have marginally grown to Rs. 3580.000 Millions compared to Rs. 3550.000
Millions in the previous year. The profitability however could not be
sustained. The combined profit before tax declined from Rs. 360.000 Millions in
the previous year to Rs. 240.000 Millions during the year under review. The
combined profit after tax declined from Rs. 269.000 Millions in the previous
year to Rs. 189.000 Millions.
OUT LOOK FOR THE CURRENT YEAR:
The year started off on a bad note with delayed Monsoon and forecast of
deficient Monsoon. The company has made contingency plans to take the challenge
and to maintain growth momentum.
BANKERS
CHARGES REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24230AP1954PLC000736 |
|
Name of the
company |
HYDERABAD
CHEMICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
4-3-377, E-mail: hydchem@sify.com |
|
Charge
identification (ID) number of the charge to be modified |
10040359 |
|
This form is for |
Modification of charge |
|
Type of charge |
Other (corporate guarantee) |
|
Particular of
charge holder |
State Bank of E-mail: idplkukatpally@sbhyd.co.in
|
|
Nature of
instrument creating charge |
Deed of Guarantee
for overall limit |
|
Date of
instrument Creating the charge |
01.10.2012 |
|
Amount secured by
the charge |
Rs. 210.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Not applicable Terms of
Repayment Repayable on
demand Margin Nil Extent and
Operation of the charge Corporate
Guarantee |
|
Short particulars
of the property or asset(s) charged (including complete address and location of
the property) |
Corporate
Guarantee for the working capital limits availed by M/s Hyderabad Chemical
Products Limited from State Bank of |
|
Date of
instrument modifying the charge |
30.09.2011 |
|
Particulars of
the present modification |
Corporate
Guarantee given to Hyderabad Chemical Products Limited for the loan availed
by the said company from State Bank of Hyderabad stands increased to Rs.
210.000 Millions. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Laboratory Equipment
·
Vehicles
·
Technical Books
·
Land (Wind farm)
·
Building (Wind farm)
·
Plant and Machinery (Wind
farm)
·
Land (Agricultural)
·
Shed at Agricultural Land
·
Plant and Machinery
(Agricultural)
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. 79.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
50 |
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.