MIRA
INFORM REPORT
|
Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHANKAR PACKAGINGS LIMITED |
|
|
|
|
Registered
Office : |
303, Turf Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.05.1985 |
|
|
|
|
Com. Reg. No.: |
11-036120 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.050 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1985PTC036120 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01961B / MUMS40482B /
MUMS40819C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8076P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of FIBC/HDPE/ PP Woven Sacks |
|
|
|
|
No. of Employees
: |
Information Denied By Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba ( 52) |
|
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having good track record.
Financial position of the company appears to be sound. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be considered good for normal 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) |
|
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 |
Long term rating : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
30.04.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Corporate Office: |
303, Turf Estate, Dr. E. Moses Road, Near Shakti Mill Compound,
Mahalaxmi (West), Mumbai - 400 011, India |
|
Tel. No.: |
91-22-24903236 / 24903225 / 24903228 |
|
Fax No.: |
91-22-24903227 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory & Sales Office : |
4-5-6, GIDC Estate, Vaghodia, District:
Baroda – 391 760, Gujarat – India |
|
Tel. No.: |
91-2668-262334 / 262434 |
|
Fax No.: |
91-2668-262833 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
(Hyderabad - Marketing) 508, Maheshwari Chambers, Somajiguda, Hyderabad – 500082, Andhra
Pradesh – India |
|
Tel. No.: |
91-40-40038828 |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Akshayshankar Pratapshankar Pandya |
|
Designation : |
Director |
|
Address : |
112-A, Paradise Apartments, 44 Nepean Sea Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1965 |
|
Qualification : |
B.com |
|
Date of Appointment : |
21.09.2010 |
|
DIN No.: |
01557239 |
|
|
|
|
Name : |
Mr. Vikramshankar Govindshankar Pandya |
|
Designation : |
Managing Director |
|
Address : |
A/5, Garib CHSL, N S Road, No. 5, JVPD, Juhu, Mumbai-400049,
Maharashtra, India |
|
Date of Birth/Age : |
06.04.1961 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.04.1995 |
|
PAN No.: |
AGJPP9410C |
|
DIN No.: |
01595269 |
|
|
|
|
Name : |
Mr. Anandshankar Revashankar Pandya |
|
Designation : |
Director |
|
Address : |
1402, Pleasant Palace, 16 N D Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
11.04.1923 |
|
Qualification : |
BA |
|
Date of Appointment : |
21.06.1986 |
|
DIN No.: |
01163634 |
|
|
|
|
Name : |
Mr. Praveen Shankar Pratap Shankar Pandya |
|
Designation : |
Director |
|
Address : |
132/133, 13th Floor, B Building, Petit Hall 66, Nepean Sea
Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1950 |
|
Qualification : |
CA |
|
Date of Appointment : |
06.05.1985 |
|
DIN No.: |
00316843 |
|
|
|
|
Name : |
Mr. Ganga Sharan Agrawal |
|
Designation : |
Director |
|
Address : |
801, Pleasant Palace, Narayan Dabholkar, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
31.07.1931 |
|
Qualification : |
BSC |
|
Date of Appointment : |
27.02.1988 |
|
DIN No.: |
00216838 |
|
|
|
|
Name : |
Mr. Gaj Singh Jodhpur |
|
Designation : |
Director |
|
Address : |
Umaid Bhavan Palace, Jodhpur – 342006, Rajasthan, India |
|
Date of Birth/Age : |
13.01.1948 |
|
Qualification : |
MBA |
|
Date of Appointment : |
27.02.1988 |
|
DIN No.: |
00061278 |
KEY EXECUTIVES
|
Name : |
Mr. Pranab Lalit Mitra |
|
Designation : |
Secretary |
|
Address : |
302, Usha Sadan, Marol, Andheri (East), Mumbai – 400059, Maharashtra,
India |
|
Date of Birth/Age : |
24.05.1960 |
|
Date of Appointment : |
01.01.1986 |
|
PAN No.: |
AAFPM3756L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Praveen Shankar Pandya |
35547 |
|
Rajeev Shankar Pandya |
34500 |
|
Anand Shankar Pandya |
141295 |
|
Umaid Investment Company Private Limited, India |
690000 |
|
Govind Shankar Pandya |
147375 |
|
Vikram Shankar Pandya |
290905 |
|
Alka Rajeev Pandya |
31625 |
|
Namita Praveen Pandya |
29274 |
|
Urvashi B. Bhatt |
2185 |
|
Akshay Shankar Pandya |
34500 |
|
Vidyaben Pandya |
46000 |
|
Saroj Pandya |
62360 |
|
Rati Pandya |
1572 |
|
Aprna Kulkarni |
5750 |
|
Manoj Selot |
5750 |
|
Sangeeta Pandya |
34500 |
|
Shivani Pandya |
34500 |
|
Shuchi Pandya |
34500 |
|
Avinash Pandya |
58937 |
|
Siddarth Pandya |
58937 |
|
Vivek Pandya |
34500 |
|
Shankar Securities Private Limited, India |
150000 |
|
Bulk Bags India Limited, India |
391100 |
|
Dolphin Investments Limited, Hong Kong |
150600 |
|
Jyotishankar Pandya, |
204125 |
|
Revashankar Gems Limited, India |
11250 |
|
Shankar Jewels Limited, India |
11250 |
|
Shankar Realty Private Limited, India |
22590 |
|
R D Pandya (HUF) |
650 |
|
Dhruv Akshay Pandya |
24438 |
|
Kashyap Akshay Pandya |
24438 |
|
Total |
2804953 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
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 |
12.64 |
|
Bodies corporate |
45.49 |
|
Directors or relatives of Directors |
41.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of FIBC/HDPE/ PP Woven Sacks |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Woven Stocks |
MT |
15264 |
11909 |
GENERAL INFORMATION
|
No. of Employees : |
Information Denied By
Management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· State Bank of India, Mid Corporate Group Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara - 390007, Gujarat, India · The Hongkong and Shanghai Banking Corporation Limited 52/60 Mahatma Gandhi Road, Fort , Mumbai-400001, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, Dalamal Tower, 211, Nariman Point, Mumbai - 400021, Maharashtra,
India |
|
PAN No.: |
AAAFR1878D |
|
|
|
|
Subsidiaries Company: |
·
Lift Pack Doo, Serbia ·
Shankar Europe BVBA, Belgium |
|
|
|
|
Others: |
Umaid Investment Company Private Limited |
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2804953 |
Equity Shares |
Rs.10/- each |
Rs. 28.050
Millions |
|
|
|
|
|
Reconciliation of the
number of Shares Outstanding
|
|
Number of Shares |
|
Opening Share Capital |
2,804,953 |
|
Closing Share Capital |
2,804,953 |
List of Shareholders
having more than 5% shares
|
Name of
Shareholders |
Numbers |
Percentage |
|
Bulk Bags India Limited |
391100 |
13.94 |
|
Dolphin Investment Limited |
150600 |
5.37 |
|
Mountain Investment Inc. |
161000 |
5.74 |
|
Shankar Securities Private Limited |
150000 |
5.35 |
|
Umaid Investment Company Pvt.Ltd. |
690000 |
24.60 |
|
Anand Shankar Pandya |
141295 |
5.04 |
|
Govind Shankar Pandya |
147375 |
5.25 |
|
Vikram Shankar Pandya |
290905 |
10.37 |
There are no shares
with differential rights
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 |
|
28.050 |
28.050 |
|
(b) Reserves & Surplus |
|
572.432 |
470.490 |
|
(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 |
|
168.067 |
108.383 |
|
(b) Deferred tax liabilities (Net) |
|
52.052 |
31.943 |
|
(c) Other long term liabilities |
|
58.271 |
11.070 |
|
(d) long-term provisions |
|
9.999 |
10.276 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
397.307 |
292.677 |
|
(b) Trade payables |
|
89.691 |
75.183 |
|
(c) Other current
liabilities |
|
117.283 |
72.423 |
|
(d) Short-term provisions |
|
45.597 |
43.375 |
|
TOTAL |
|
1538.749 |
1143.870 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
822.116 |
523.066 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.014 |
43.238 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
4.249 |
4.244 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
28.255 |
21.104 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
20.837 |
33.998 |
|
(b) Inventories |
|
230.383 |
239.578 |
|
(c) Trade receivables |
|
176.189 |
135.421 |
|
(d) Cash and cash
equivalents |
|
52.470 |
27.711 |
|
(e) Short-term loans
and advances |
|
172.462 |
111.891 |
|
(f) Other current
assets |
|
31.774 |
3.619 |
|
TOTAL |
|
1538.749 |
1143.870 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
28.049 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
392.184 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
420.233 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
270.566 |
|
|
2] Unsecured Loans |
|
|
1.318 |
|
|
TOTAL BORROWING |
|
|
271.884 |
|
|
DEFERRED TAX LIABILITIES |
|
|
27.146 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
719.263 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
423.104 |
|
|
Capital work-in-progress |
|
|
3.969 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
30.152 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
156.343
|
|
|
Sundry Debtors |
|
|
82.843
|
|
|
Cash & Bank Balances |
|
|
11.182
|
|
|
Other Current Assets |
|
|
0.485
|
|
|
Loans & Advances |
|
|
143.870
|
|
Total
Current Assets |
|
|
394.723
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
75.830
|
|
|
Other Liabilities |
|
|
0.643
|
|
|
Provisions |
|
|
56.212
|
|
Total
Current Liabilities |
|
|
132.685
|
|
|
Net Current Assets |
|
|
262.038
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
719.263 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2030.009 |
1609.516 |
1138.161 |
|
|
|
Other Income |
6.460 |
5.995 |
7.402 |
|
|
|
TOTAL (A) |
2036.469 |
1615.511 |
1145.563 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1115.188 |
885.565 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(33.271) |
(41.902) |
1023.439 |
|
|
|
Employee related expenses |
112.310 |
92.613 |
|
|
|
|
Other expenses |
578.675 |
485.414 |
|
|
|
|
TOTAL (B) |
1772.902 |
1421.690 |
1023.439 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
263.567 |
193.821 |
122.124 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.072 |
37.872 |
28.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
216.495 |
155.949 |
93.619 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
51.976 |
35.114 |
31.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
164.519 |
120.833 |
62.549 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
54.425 |
34.378 |
15.642 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
110.094 |
86.455 |
46.907 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
372.492 |
302.832 |
268.820 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
11.500 |
8.646 |
4.691 |
|
|
|
Dividend |
7.013 |
7.012 |
7.012 |
|
|
|
Tax on Dividend |
1.137 |
1.137 |
1.192 |
|
|
BALANCE CARRIED
TO THE B/S |
462.936 |
372.492 |
302.832 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of goods exported |
1769.965 |
1402.700 |
1009.849 |
|
|
TOTAL EARNINGS |
1769.965 |
1402.700 |
1009.849 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
160.272 |
125.390 |
|
|
|
Stores & Spares |
NA |
9.988 |
5.720 |
|
|
|
Plant and Machinery |
NA |
49.467 |
16.469 |
|
|
TOTAL IMPORTS |
NA |
219.727 |
147.579 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
39.25 |
30.82 |
16.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.41
|
5.35
|
4.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.11
|
7.51
|
5.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.72 |
11.02 |
7.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.24 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.94 |
0.80 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.14 |
2.97 |
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 |
Yes |
NOTE:
The Registered
address of the company has been shifted from A-4,
OPERATING RESULTS AND
BUSINESS
The gross turnover of the company for the year increased to Rs. 2124.100 Millions which is a quantum jump of nearly 31% over the previous year. In tune with increased sales, the profit after tax of the company has gone up from 86.400 Millions to 112.000 Millions. The total capacity of the company as on date is 17,875 MT per annum. The actual capacity utilization have been 12,856 MT which reflects the capacity utilization of up to 72%. The business environment of the company continues to remain favorable barring developments in the global environment.
During the financial year, the Company opened a wholly owned subsidiary viz., Shankar (Europe) BVBA in Belgium to oversee it's European operation. In addition, the Company also set up a manufacturing operation in Serbia in collaboration with a local company in Serbia.
The company has during the year, successfully set up a new production Unit with CAPEX of Rs. 400.200 Millions in financial year 2010-11 and 2011-12 thereby increasing production capacity of company by 2610 MT per annum.
(Rs in Millions)
|
Unsecured Loan |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Loans repayable on demand |
9.406 |
7.057 |
|
Total |
9.406 |
7.057 |
|
|
|
|
FIXED ASSETS:
·
·
Buildings
·
Office
Equipments
·
Plant
and Machinery
·
Office
and Other Equipments
·
Vehicles
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist oranization
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 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] 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. 59.71 |
|
|
1 |
Rs. 92.21 |
|
Euro |
1 |
Rs. 79.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
52 |
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.