MIRA
INFORM REPORT
|
Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAKO FLEXI PACK PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-162, Someshwar Complex -1, Popular Plaza, 132, FT. Ring Road,
Satellite, Ahmedabad – 380015, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.03.1992 |
|
|
|
|
Com. Reg. No.: |
04-017211 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51100GJ1992PTC017211 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS00676E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS9281R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging Products. |
|
|
|
|
No. of Employees
: |
62 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 270000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip in sales and profitability during 2012. However, general financial position is good. Trade relations are
reported to be fair. Business is active. Payment terms are reported to be
usually correct and as per commitment. The company can be considered for normal 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB (Long Term Rating) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of financial
obligation. |
|
Date |
25.10.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Vasant |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-40638000 |
|
Date : |
20.06.2013 |
LOCATIONS
|
Registered Office : |
A-162, Someshwar Complex -1, Popular Plaza, 132, FT. Ring Road,
Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9821187307 (Mr. Kaushal Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
1023, 1024, Gumasan, Near Sandvik Asia Limited, Mehsana Highway,
Village Rajpur, Tal-Kadi Mehsana, Mehsana – 382715, Gujarat, India |
|
Tel. No.: |
91-2764-278248/ 278261 |
|
Fax No.: |
91-2764-278290 |
|
Email : |
|
|
Area : |
2.25 lac |
|
Location : |
Owned |
|
|
|
|
Marketing/ Branch Office : |
Office 132, 3rd Floor, Champaklal Industries Estate, Near Sion
Telephone Exchange, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Tel. No.: |
91-22-24025988/ 24044263/ 40638000 |
|
Fax No.: |
91-22-24012824 |
|
Area : |
700 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Bhupendra Nandlal Kothari |
|
Designation : |
Managing Director |
|
Address : |
904, Kanha Tower, Parthsarthi Avenue, 132 Ft Ring Road, Stellite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
06.01.1943 |
|
Qualification : |
B. com |
|
Experience : |
40 years |
|
Date of Appointment : |
18.03.1992 |
|
DIN No.: |
01520501 |
|
|
|
|
Name : |
Mr. Vikram Nanchand Shah |
|
Designation : |
Director |
|
Address : |
Flat No.6, 3rd Floor, Gujarat Society, Plot No.198-A, Mumbai
– 400022, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1944 |
|
Qualification : |
M. E. |
|
Experience : |
38 years |
|
Date of Appointment : |
03.03.1992 |
|
DIN No.: |
00489281 |
|
|
|
|
Name : |
Mr. Vivek Bhupendra Kothari |
|
Designation : |
Director |
|
Address : |
904, Kanha Tower, Parthsarthi Avenue, 132 Ft Ring Road, Stellite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
08.11.1976 |
|
Qualification : |
B. Com |
|
Experience : |
12 years |
|
Date of Appointment : |
11.11.2000 |
|
DIN No.: |
01520531 |
|
|
|
|
Name : |
Mr. Rahul Vikram Shah |
|
Designation : |
Director |
|
Address : |
198, A/6 Gujarat Society, Sion (West), Mumbai – 400022, Maharashtra,
India |
|
Date of Birth/Age : |
24.01.1976 |
|
Qualification : |
Diploma Polymer Engineer |
|
Experience : |
13 years |
|
Date of Appointment : |
11.11.2000 |
|
DIN No.: |
01798888 |
|
|
|
|
Name : |
Mr. Kaushal Vikram Shah |
|
Designation : |
Director |
|
Address : |
198, A/6 Gujarat Society, Sion (West), Mumbai – 400022, Maharashtra,
India |
|
Date of Birth/Age : |
04.02.1974 |
|
Qualification : |
B.E. |
|
Experience : |
15 years |
|
Date of Appointment : |
01.05.2004 |
|
DIN No.: |
01798886 |
KEY EXECUTIVES
|
Name : |
Mr. Vasant |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Bhupendra Nandlal Kothari |
|
465750 |
|
Vivek Bhupendra Kothari |
|
198180 |
|
Vikram Nanchand Shah |
|
246050 |
|
Kaushal Vikram Shah |
|
139500 |
|
Rahul Vikram Shah |
|
144100 |
|
Shivani V Kothari |
|
44520 |
|
Mousmai B Kothari |
|
46450 |
|
Vaishali B Kothari |
|
48800 |
|
Bharti V Shah |
|
38150 |
|
Shital K. Shah |
|
11000 |
|
Amishi R. Shah |
|
12500 |
|
Bhupendra N. Kothari (HUF) |
|
5000 |
|
|
|
|
|
Total |
|
1400000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging Products. |
|
|
|
|
Exports : |
|
|
Products : |
Flexible Packaging |
|
Countries : |
USA |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed Capacity |
Actual Production |
|
|
|
|
|
Flexible Packaging |
150 MT/ Month |
120 MT/ Month |
|
|
|
|
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and OEM’s |
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|
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|
No. of Employees : |
62 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
·
Bank of Baroda, Chhatral Branch, Chhatral, Gandhinagar –
384062, Gujarat, India · HDFC Bank Limited · Kotak Mahindra Bank · Axis Bank · ICICI Bank Limited · Barclays Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Dalal and Associates Chartered Accountant |
|
Address : |
A/4/2, Prarambh Complex, B/h.
State Bank of India, Swastik Society, Navrangpura, Ahmedabad – 380009 ,
Gujarat, India |
|
Tel. No.: |
91-79-30020606 |
|
Fax No.: |
91-79-26404467 |
|
E-Mail : |
|
|
PAN No.: |
ADQPD5319J |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
Rs.10/- each |
Rs.17.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1400000 |
Equity Shares |
Rs.10/- each |
Rs.14.000
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 |
|
14.000 |
14.000 |
|
(b) Reserves & Surplus |
|
54.099 |
40.469 |
|
(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 |
|
40.348 |
35.473 |
|
(b) Deferred tax liabilities (Net) |
|
12.950 |
9.782 |
|
(c) Other long term liabilities |
|
16.273 |
17.258 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
35.190 |
30.914 |
|
(b) Trade payables |
|
64.957 |
60.569 |
|
(c) Other current liabilities |
|
12.633 |
13.897 |
|
(d) Short-term provisions |
|
5.740 |
7.806 |
|
TOTAL |
|
256.190 |
230.168 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
109.061 |
89.929 |
|
(ii) Intangible Assets |
|
0.108 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
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 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
29.607 |
30.208 |
|
(c) Trade receivables |
|
69.226 |
69.236 |
|
(d) Cash and cash equivalents |
|
24.392 |
12.644 |
|
(e) Short-term loans and advances |
|
23.796 |
28.151 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
256.190 |
230.168 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12.000 |
|
|
2] Share Application Money |
|
|
1.825 |
|
|
3] Reserves & Surplus |
|
|
18.045 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
31.870 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
58.292 |
|
|
2] Unsecured Loans |
|
|
2.606 |
|
|
TOTAL BORROWING |
|
|
60.898 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.066 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
99.834 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
84.013 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
21.406 |
|
|
Sundry Debtors |
|
|
51.494 |
|
|
Cash & Bank Balances |
|
|
10.028 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
13.740 |
|
Total
Current Assets |
|
|
96.668 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
68.385 |
|
|
Other Current Liabilities |
|
|
4.125 |
|
|
Provisions |
|
|
8.337 |
|
Total
Current Liabilities |
|
|
80.847 |
|
|
Net Current Assets |
|
|
15.821 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
99.834 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
384.056 |
355.871 |
287.346 |
|
|
|
Labour Charges/ Jobwork Income |
0.000 |
0.000 |
0.259 |
|
|
|
Stock loss due to Fire |
0.000 |
0.000 |
12.751 |
|
|
|
Other Income |
5.757 |
14.446 |
0.394 |
|
|
|
TOTAL (A) |
389.813 |
370.317 |
300.750 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
275.070 |
268.079 |
291.790 |
|
|
|
Changes in inventories of finished goods and work in progress |
4.357 |
(4.263) |
|
|
|
|
Employee Benefit Expenses |
11.237 |
8.603 |
|
|
|
|
Other Expenses |
63.005 |
54.109 |
|
|
|
|
Exceptional Item |
(2.266) |
0.000 |
|
|
|
|
TOTAL (B) |
351.403 |
326.528 |
291.790 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
38.410 |
43.789 |
8.959 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.751 |
7.899 |
5.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.659 |
35.890 |
3.657 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.413 |
4.375 |
3.444 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
23.246 |
31.515 |
0.213 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.989 |
9.459 |
1.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
15.257 |
22.056 |
(1.011) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
33.606 |
13.733 |
16.148 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
0.551 |
0.000 |
|
|
|
Dividend |
NA |
1.400 |
1.200 |
|
|
|
Tax on Dividend |
NA |
0.232 |
0.204 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
33.606 |
13.733 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
10.90 |
15.75 |
(0.84)
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.91
|
5.96 |
(0.34) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.05
|
8.86 |
0.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.07
|
13.69 |
0.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.58 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.11
|
1.22 |
1.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.24 |
1.20 |
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 |
Yes |
|
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 |
No |
|
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 |
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 |
Yes |
FINANCIAL RESULTS:
During the year the Company has achieved Turnover of Rs. 384.056 Millions as compared to previous year Rs. 355.871 Millions. Company has earned profit of Rs.15.257 Millions as compared to profit of Rs. 22.056 Millions for the previous year. The directors are hopeful to achieve better results in the coming years.
FUTURE PLAN OF
ACTION:
Company will continue efforts towards development of new products/product systems for domestic and' international markets meeting the requirements of customer needs, society, and continuously improve quality, cost, availability and environment.
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U51100GJ1992PTC017211 |
|
Name of the
company |
SHAKO FLEXI PACK
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-162, Someshwar
Complex - 1, Popular Plaza, 132, Ft. Ring Road, Satellite, Ahmedabad –
380015, Gujarat, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Citi Bank N. A.,
Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra
(East), Mumbai - 400051, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of
Entry. |
|
Date of
instrument Creating the charge |
24.08.2012 |
|
Amount secured by
the charge |
Rs.9.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as may
be stipulated by the bank from time to time. Terms of Repayment On Demand. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge The Company
created mortgage by deposit of title deeds with the Bank in respect of
immovable properties described in Column No.15 below as security for
repayment of its Credit facility of Rs.9.000 Millions, together with
interest, additional interest, liquidated damages, commitment charges, premia
on repayment or on redemption, costs, expenses and other monies due and
payable by the Company to the Citibank N.A. Others NIL |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Equitable
Mortgage on 132, Champaklal Industrial Estate, Sion East, Mumbai – 400022,
Maharashtra, India |
FIXED ASSETS:
·
Land
·
·
Plant and Machinery
·
Electric Installation
·
Office Equipments
·
Furniture and Fittings
·
Car
·
Fax Machine
·
Air Condition
·
Scooter
·
Cylinder
·
Computer
·
Laboratory Equipment
·
Wad Dies
·
Printing Roller
·
Water Filter
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proeeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.