MIRA
INFORM REPORT
|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
RECKITT BENCKISER HEALTHCARE INDIA LIMITED (w.e.f.12.06.2012) |
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|
|
|
Formerly Known
As : |
PARAS PHARMACEUTICALS LIMITED |
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Registered
Office : |
Plot No. 48, Institutional Area, Sector-32,
Gurgaon-122001, Haryana |
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Country : |
India |
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|
Financials (as
on) : |
31.12.2011 (Profit and Loss Account) |
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Date of
Incorporation : |
27.11.1980 |
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Com. Reg. No.: |
05-044172 |
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Capital
Investment / Paid-up Capital : |
Rs.90.515 Millions |
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|
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CIN No.: [Company Identification
No.] |
U24231HR1980PLC044172 |
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|
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PAN No.: [Permanent Account No.] |
AAACP9268J |
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|
Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business
: |
Manufacturing of Pharmaceutical Products and Bulk Drugs. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 5000000 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fair track record. As per
the available financials i.e. profit and loss statement for the 9 months period
ranging from April 1, 2011 to December 31 , 2011. The performance of the
company appears to be good. Trade relations are fair. Business is active.
Payment terms are reported as regular and as per commitments. In view of experienced promoters and reputed holding company, 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) |
|
India |
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.
INFORMATION DENIED
Not able to contact the company on the available number.
(Tel. No.: 91-124-4028000 / 3319000)
LOCATIONS
|
Registered Office : |
Plot No. 48, Institutional Area, Sector – 32, Gurgaon –
122001, Haryana, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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Corporate Office : |
“Paras House”, 6-B, Sattar Taluka Society, Near Navjinva
Press, Ashram Road, Ahmedabad-380014, Gujarat, India |
|
Tel. No.: |
91-79-27544475/ 27544484 |
|
Fax No.: |
91-79-27544485 |
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|
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|
Factory.1 : |
Plot 1/7, GIDC Estate, Kalol, District Mehsana, |
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|
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Factory.2: |
701, 534, Baddi Nalagarh Road, Post Office Baddi, Village Sandholi,
Baddi-173205, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-245572 / 245573 |
DIRECTORS
As on 30.06.2012
|
Name : |
Mr. Chander Mohan Sethi |
|
Designation : |
Additional Director |
|
Address : |
302-B, Court Greens, Laburnum Condominium Complex, Sushant Lok-I,
Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
08.03.1949 |
|
Qualification : |
MBA |
|
Date of Appointment : |
11.04.2011 |
|
DIN No.: |
00319297 |
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|
|
|
Name : |
Mr. Parag Agarwal |
|
Designation : |
Additional Director |
|
Address : |
Apartment 1B, Tower TG-6, Orchid Garden, Sun City, Sector-54,
Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
19.02.1966 |
|
Qualification : |
CA |
|
Date of Appointment : |
11.04.2011 |
|
DIN No.: |
02954487 |
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|
|
|
Name : |
Mr. Jose Joaquin Camero Gonzalez |
|
Designation : |
Director |
|
Address : |
Barnet Desclot, 18 Casa 08190, Santcugal, Barcelona 08190 Spain |
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Date of Birth/Age : |
01.08.1955 |
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Qualification : |
MBA, MS Finance, Georgia Institute of Technology and GA State U |
|
Date of Appointment : |
11.04.2011 |
|
DIN No.: |
02466459 |
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|
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|
Name : |
Mr. Rajesh Kumar Jha |
|
Designation : |
Alternate director |
|
Address : |
C-3, 3164, Vasant Kunj, New Delhi-110019, India |
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Date of Birth/Age : |
30.06.1968 |
|
Qualification : |
LLB |
|
Date of Appointment : |
16.08.2011 |
|
DIN No.: |
02695721 |
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|
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Name : |
Mr. Roopak Sushil Taneja |
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Designation : |
Director |
|
Address : |
C/o Reckit Benckiser P.O. Box 61344 Dubai, United Arab Emirates |
|
Date of Birth/Age : |
24.01.1967 |
|
Qualification : |
CA |
|
Date of Appointment : |
11.04.2011 |
|
DIN No.: |
02889984 |
KEY EXECUTIVES
|
Name : |
Mr. Sthitapranga Kantilal Shah |
|
Designation : |
Secretary |
|
Address : |
2/2, |
|
Date of Birth/Age : |
21.12.1961 |
|
Date of Appointment : |
01.03.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Reekitt Benckiser Investment India Private Limited, Singapore |
|
9090900 |
|
R and C Nominees Limited, Berkshire |
|
10 |
|
Chander Mohan Sethi |
|
1 |
|
Parag Agarwal |
|
1 |
|
Savamoy Roy Chowdhary |
|
1 |
|
Ajay Thukral |
|
1 |
|
Rajesh Kumar Jha |
|
1 |
|
Sarita William |
|
1 |
|
TOTAL |
|
9090916 |
As on 30.06.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pharmaceutical Products and Bulk Drugs. |
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Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Ointment/ Cream |
M. Ton |
3000 |
2038 |
|
Powder |
M. Ton |
1800 |
1769 |
|
Liquid |
000 Liters |
5400 |
827 |
|
Tablets |
Million |
810 |
209 |
NOTES:
a)
Licensed Capacity not being
applicable has not been indicated.
b)
Installed capacity has
been certified by the company, this being a technical matter.
c)
Quantity in metric tones
unless otherwise stated. Quantity for tables and liquid stated in millions and
‘000 liters respectively.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|
Bankers : |
·
Industrial Development Bank of India Limited,
IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India ·
IDBI Bank Limited, IDBI Complex, Opposite Municipal Staff
Quarters, Near Lal Bunglow, Off C G Road, Ahmedabad-380006, Gujarat, India ·
The Kapol Nagrik Sahakari Bank Limited |
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|
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S R Batliboi and Associates Chartered Accountant |
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Address: |
2nd Floor, Shivalik Ishaan, Near C.N. Vidhyalaya, Ambawadi,
Ahmedabad, |
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Tel. No. : |
91-79-66083800 |
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Fax No. : |
91-79-66083900 |
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Subsidiaries: |
·
Needwise Advertising Private Limited CIN No.:
U74300GJ1997PTC032021 ·
Paras Overseas Holding Limited (UAE) ·
Paras Inc ( |
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Step – down Subsidiary Company : |
· Paras Global FZE (UAE) ·
Paras [ |
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Associates : |
·
Sterling Addlife India Limited (upto
07.10.2010) CIN No.: U85110GJ2000PLC039121 |
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Enterprises which exercise significant influence on the company : |
·
Actis Advisors Private Limited ·
Actis Consumer India Limited ·
Actis Consumer South Asia Limited ·
Actis Consumer (AEM3A) Limited ·
Actis Consumer (AEM General) Limited ·
Actis Consumer (A13A) Limited ·
Actis Investments Holdings No.80 Limited, |
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|
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Company in which
Directors are Interested : |
Viral Industries Private Limited |
CAPITAL STRUCTURE
As on 30.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9090916 |
Equity Shares |
Rs.10/- each |
Rs.90.909 Millions |
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|
|
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|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9051522 |
Equity Shares |
Rs.10/- each |
Rs.90.515
Millions |
|
|
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|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
90.515 |
90.515 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1284.259 |
1517.074 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1374.774 |
1607.589 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
2.593 |
22.760 |
|
|
|
|
|
|
|
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TOTAL |
|
1377.367 |
1630.349 |
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
|
716.019 |
846.861 |
|
|
Capital work-in-progress |
|
13.593 |
6.539 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
481.714 |
479.323 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
356.481
|
356.844
|
|
|
Sundry Debtors |
|
120.883
|
178.546
|
|
|
Cash & Bank Balances |
|
88.381
|
189.797
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
157.779
|
39.719
|
|
Total
Current Assets |
|
723.524
|
764.906
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
356.079
|
325.395
|
|
|
Other Current Liabilities |
|
80.275
|
65.061
|
|
|
Provisions |
|
121.129
|
76.824
|
|
Total
Current Liabilities |
|
557.483
|
467.280
|
|
|
Net Current Assets |
|
166.041
|
297.626
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1377.367 |
1630.349 |
|
Note: Balance
Sheet of 31.12.2011 (9 Months) is not available only profit and loss account is
available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 (9 Months) |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3806.686 |
4670.548 |
3804.516 |
|
|
|
Other Income |
90.738 |
149.085 |
45.050 |
|
|
|
TOTAL (A) |
3897.424 |
4819.633 |
3849.566 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
737.668 |
|
|
|
|
|
Purchases of stock-in-trade |
668.530 |
759.236 |
|
|
|
|
Employee benefit expense |
211.419 |
297.590 |
|
|
|
|
Other expenses |
1298.448 |
1458.441 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
186.933 |
(28.547) |
|
|
|
|
Exceptional items |
138.346 |
0.000 |
|
|
|
|
TOTAL (B) |
3241.344 |
3425.119 |
2794.777 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
656.080 |
1394.514 |
1054.789 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.574 |
1.200 |
2.815 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
655.506 |
1393.314 |
1051.974 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
90.802 |
125.617 |
115.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
564.704 |
1267.697 |
936.375 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
209.481 |
258.343 |
223.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
355.223 |
1009.354 |
712.995 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
66.002 |
85.056 |
87.450 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
NA |
799.249 |
543.091 |
|
|
|
Proposed Final Dividend |
NA |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
NA |
132.745 |
92.298 |
|
|
|
Transfer to General Reserve |
NA |
102.500 |
80.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
66.002 |
85.056 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
219.892 |
133.639 |
|
|
TOTAL EARNINGS |
NA |
219.892 |
133.639 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Packing / Raw Materials |
NA |
NA |
7.846 |
|
|
|
Capital Goods |
NA |
NA |
10.223 |
|
|
TOTAL IMPORTS |
NA |
NA |
18.069 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.46 |
111.51 |
78.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 (9 Months) |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.11
|
20.94
|
18.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.83
|
27.14 |
24.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
88.06 |
58.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.92 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.30 |
1.64 |
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 |
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 |
No |
|
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 |
NOTE:
The Registered Office of the company has been shifted from Paras House
6-B Sattar Taluka Society NR. Navjivan Press Ashram Road Ahmadabad – 380014,
Gujarat India to the present address w.e.f.25.08.2011
NATURE OF
OPERATION:
Subject is a fast moving consumer goods [FMCG] Company having household
brands in the healthcare and personal care categories.
WEBSITE DETAILS
PRESS RELEASE
RB INDIA SCORES HIGH ON MOST TRUSTED BRANDS LIST 2012
13.11.2012
Dettol has come in at an admirable number 5 in the top 100 of the Brand Equity Most Trusted Brands List 2012, reports the Economic Times in India.
The survey, conducted by Nielsen on 8160 respondents spread over 12 cities of
India, put the RB Powerbrand in the top 5 of the prestigious countdown.
RB brand Moov also makes a showing in the top 100, entering the spotlight at 32
and gaining 14 places up the rankings from last year. Moov continues to be the
number 1 trusted painkiller and number 2 trusted OTC brand in the country.
A further six RB India Healthcare brands (Moov #2, Dermicool #9, D'Cold #12,
Disprin #13, ItchGuard #14 and Krack #15) feature among the Top 15 OTC brands
of the country.
RB BUYS INDIA’S PARAS PHARMACEUTICALS LIMITED
13/12/2010
Reckitt Benckiser Group plc (RB) today announces that it has agreed to
buy Paras Pharmaceuticals Limited (Paras) forINR 32.6 billion (Indian Rupees)
(approximately GBP 460 million) from the current shareholders, including the
Patel family and Actis, the emerging markets private equity investor. RB will
finance the transaction from existing facilities.
Paras is a privately-owned Indian company with a portfolio of leading Indian
over the counter Health and Personal Care brands including:
Moov,
the No 2 topical analgesic pain ointment,
D’Cold,
the No 2 cold & flu remedy,
Dermicool,
the No 2 for prickly heat,
Krack,
the No 1 medicated skin treatment for cracked heels and
Itch
Guard and Ring Guard anti fungal creams.
In addition, Paras has a personal care business led by Set Wet, a leading hair
gel and deodorant brand.
In the fiscal year ending March 2010, Paras generated net sales of INR 4,014
million, representing a mid-teens average growth rate over the last four years,
and operating EBITDA for the same year of INR 1,083 million (approximately GBP
56 million and GBP 15 million respectively).
The company has a brand new state of the art and GMP compliant manufacturing
plant located at Baddi in Northern India, which employs around 700 people.
Commenting on the acquisition, Reckitt Benckiser CEO, Bart Becht, says, “The
acquisition of Paras is another step forward in RB’s growth strategy in
consumer health care. It creates a material health care business in India, one
of the most promising health care markets in the world with the addition of a
number of strong and leading brands.”
“We believe the Paras business has not only extremely good growth potential,
when supported by RB’s investment and innovation strength, we also expect to
realize material synergies as a result of the integration of Paras into Reckitt
Benckiser.”
“The growth potential of the business, the creation of a material health care
business in India’s large and growing health care market and the global
synergies available make Paras an exciting addition to our portfolio and
attractive opportunity for our shareholders.”
RB was advised by JPMorgan. Actis and the other Paras shareholders were advised
by Morgan Stanley.
FIXED ASSETS:
·
Leasehold Land
·
Freehold Land
·
Building
·
Plant and Machinery
·
Furniture fixture and
Fitting
·
Computer Hardware
·
Vehicles
Intangible Assets
·
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.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
TOTAL |
|
60 |
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.