MIRA
INFORM REPORT
|
Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MRS.BECTORS FOOD SPECIALITIES LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
15.09.1995 |
|
|
|
|
Com. Reg. No.: |
16-033417 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 298.153 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899PB1995PLC033417 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM9495K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Food Products including Biscuits, Confectionaries,
Sauces etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4970000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track record. Balance
Sheet statement for the year 2012 is not available. However, there seems a growth
in the turnover and profitability of the company during the year 2012. As per
previous year financial, the company seems to be performing well. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitment. The company can be considered normal for 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Term loan : A- (Upgraded from BBB+) |
|
Rating Explanation |
Adequate degree of safety it carry very low
credit risk. |
|
Date |
October 7, 2011 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of credit : A2+ (Upgraded from A2) |
|
Rating Explanation |
Strong degree of safety it carry low credit
risk. |
|
Date |
October 7, 2011 |
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/ Head Office/ Factory : |
Theing Road, Phillaur, Jalandhar - 144410, Punjab, India |
|
Tel. No.: |
91-1826-502923/ 222826/ 223139/ 225418 |
|
Fax No.: |
91-1826-502902/ 222915 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Postal Address : |
B-XXXIII/ 324, G.T. Road (West), Jalandhar Bye-Pass,, Phillaur -
144409, Punjab, India |
|
Tel. No.: |
91-1826-222826/ 222430/ 502921/ 222430/ 309898/ 502912/ 502910 |
|
Fax No.: |
91-1826-222915/ 502902 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Akshay Bector |
|
Designation : |
Managing director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
29.03.1961 |
|
Qualification : |
B.E (Industrial
and Production) |
|
Date of Appointment : |
18.04.2000 |
|
PAN No.: |
ABJPB4769K |
|
DIN No.: |
00058877 |
|
|
|
|
Name : |
Mr. Anoop Bector |
|
Designation : |
Managing director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
05.10.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABJPB4770G |
|
DIN No.: |
00108589 |
|
|
|
|
Name : |
Mr. Dharamvir Bector |
|
Designation : |
Whole-time director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
01.04.1932 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
30.09.2006 |
|
PAN No.: |
ABXPB2850P |
|
DIN No.: |
00108654 |
|
|
|
|
Name : |
Mr. Ajay Bector |
|
Designation : |
Whole-time director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
17.12.1958 |
|
Date of Appointment : |
19.09.2005 |
|
PAN No.: |
ABWPB7406Q |
|
DIN No.: |
00058904 |
|
|
|
|
Name : |
Mr. Parveen Kumar Goel |
|
Designation : |
Whole-time director |
|
Address : |
230-A, Rishi Balmiki Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
21.08.1963 |
|
Qualification : |
CA |
|
Date of Appointment : |
01.05.2008 |
|
PAN No.: |
ABWPG3304J |
|
DIN No.: |
00007297 |
|
|
|
|
Name : |
Mrs. Rajni Bector |
|
Designation : |
Whole-time director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
02.06.1940 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.09.2006 |
|
PAN No.: |
ABKPB0071B |
|
DIN No.: |
00108730 |
|
|
|
|
Name : |
Mr. Rakesh Sony |
|
Designation : |
Director |
|
Address : |
Flat No. 10, 2nd Floor, Lotus Court, J. Tata Road, Mumbai, Maharashtra,
India |
|
Date of Birth/Age : |
02.01.1976 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00363053 |
KEY EXECUTIVES
|
Name : |
Mrs. Jyoti Aggarwal |
|
Designation : |
Secretary |
|
Address : |
Near MC Office, Mandi Harji Ram Malout, Muktsar, Punjab, India |
|
Date of Birth/Age : |
06.12.1984 |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
AQQPA4740H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Dharamvir Bector |
|
75600 |
|
Anoop Bector |
|
75000 |
|
Akshay Bector |
|
75000 |
|
Ajay Bector |
|
75000 |
|
Cremica Foods Limited, India |
|
5850000 |
|
Bector Foods Limited, India |
|
4470000 |
|
Cremica Industries Limited, India |
|
10500000 |
|
Cremica Agro Foods Limited, India |
|
2004150 |
|
IL and FS Trust Company Limited, India |
|
2341680 |
|
|
|
4348860 |
|
TOTAL |
|
29815290 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
14.60 |
|
Bodies
corporate |
|
84.40 |
|
Directors
or relatives of directors |
|
1.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Food Products including Biscuits, Confectionaries,
Sauces etc. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Biscuits |
MT |
NA |
87600 |
60007 |
|
Bakery Products |
MT |
NA |
5119 |
2961 |
|
Sauces, Syrups and Spreads |
Ltrs |
NA |
13800000 |
11500120 |
|
Food Processing |
MT |
NA |
1100 |
1027 |
|
Namkeen |
MT |
NA |
1326 |
581 |
Note:
*As certified by
management the production of Bakery Products exclude production of Job work of NIL
MT (previous year 10,555 MT). The production of Biscuits exclude production of
Job work of 26,873 MT (Previous year 26,743 MT) Differences in quantitative
tally are on account of breakages and damages.
GENERAL INFORMATION
|
Customers : |
Ø McDonalds Ø Barista Ø Coffee Day Ø Pizza Corner Ø Pizza Hut Ø Domino’s Pizza Ø Papa Johns Ø Taj Ø Jet Airways Ø Air India Ø Big Bazaar Ø Spencer Ø Sodexho |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Ø State Bank of Patiala,
Commercial Branch, Miller Ganj, Ludhiana - 141003, Punjab, India Ø Punjab National
Bank, Main Branch, Phillaur - 144410, Punjab, India Ø Small Industries
Development Bank of India, First Floor, Sco 16 and 17, Feroze Gandhi Market,
Opposite Ludhiana Stock Exchange, Ludhiana - 141001, Punjab, India Ø Oriental Bank of
Commerce, Dana Mandi, Phillaur,, Jalandhar - 144001, Punjab, India Ø State Bank of
India, Sales Hub Mid Corporate, SCB Miller Gunj, Ludhiana – 141003, Punjab,
India |
||||||||||||||||||||||||||||||
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|
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|
Facilities : |
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SBI Factors and
Commercial Services Private Limited BXXI-14627, Near Dholewal Chowk, G.T.
Road, Ludhiana - 141001, Punjab, India |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
Hindustan Time
Building, 18-20, Kasturba Gandhi Marg, 6th Floor, New Delhi - 110001, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Subsidiary Companies : |
Ø Shree Bankey
Behari Rice Mills Limited [U15312DL2010PLC207538] |
|
|
|
|
Associates : |
Ø EBI Cremica Food
Coatings Limited Ø Cremica Frozen
Foods Limited Ø Bector Foods
Limited [U15146PB1989PLC009675] Ø Cremica Agro
Foods Limited [L15146PB1989PLC009676] Ø Cremica Industries
Limited [U15146PB1986PLC006994] Ø Cremica Foods
Limited [U52201PB1992PLC012221] Ø Cremica Food
Specialities Limited [U23123PB1999PLC023123] |
|
|
|
|
Enterprises over which person(s) having controlling
interest in Company / Key management personnel (s) along with their relatives are able to
exercise significant influence: : |
Ø Sunshine Foods Ø Hira Mal
Lachhman Das Parlour Ø Bakebest Foods
Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,815,290 |
Equity Shares |
Rs. 10/- each |
Rs. 298.153
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
298.153 |
25.708 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
945.664 |
1153.524 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1243.817 |
1179.232 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1000.511 |
987.260 |
|
|
2] Unsecured Loans |
|
31.756 |
10.407 |
|
|
TOTAL BORROWING |
|
1032.267 |
997.667 |
|
|
DEFERRED TAX LIABILITIES |
|
95.786 |
76.995 |
|
|
|
|
|
|
|
|
TOTAL |
|
2371.870 |
2253.894 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1572.216 |
1507.111 |
|
|
Capital work-in-progress |
|
33.188 |
19.591 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
4.778 |
4.268 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
419.578 |
415.219
|
|
|
Sundry Debtors |
|
447.765
|
326.981
|
|
|
Cash & Bank Balances |
|
86.498
|
122.667
|
|
|
Other Current Assets |
|
4.273
|
0.000
|
|
|
Loans & Advances |
|
317.724
|
315.150
|
|
Total
Current Assets |
|
1275.838
|
1180.017
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
308.681
|
398.600 |
|
|
Other Current Liabilities |
|
184.237
|
46.978 |
|
|
Provisions |
|
21.232
|
11.515
|
|
Total
Current Liabilities |
|
514.150
|
457.093
|
|
|
Net Current Assets |
|
761.688
|
722.924
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2371.870 |
2253.894 |
|
Note: Balance Sheet for the current year i.e.2011-2012
is not available only Profit and Loss Statement is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
5608.897 |
4699.196 |
3598.827 |
|
|
|
Other Income |
9.778 |
36.270 |
124.314 |
|
|
|
TOTAL (A) |
5618.675 |
4735.466 |
3723.141 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3258.842 |
2953.577 |
|
|
|
|
Purchases of stock-in-trade |
402.194 |
310.771 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(8.891) |
(36.399) |
|
|
|
|
Employee benefit
expense |
461.424 |
354.641 |
|
|
|
|
Other expenses |
1012.289 |
805.301 |
|
|
|
|
TOTAL (B) |
5125.858 |
4387.891 |
3445.463 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
492.817 |
347.575 |
277.678 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
122.219 |
94.096 |
95.613 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
370.598 |
253.479 |
182.065 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
131.405 |
109.910 |
83.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
239.193 |
143.569 |
98.383 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
69.653 |
47.643 |
39.244 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
169.540 |
95.926 |
59.139 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1149.080 |
823.988 |
637.956 |
|
|
|
Other Earnings |
0.090 |
0.036 |
3.761 |
|
|
TOTAL EARNINGS |
1149.170 |
824.024 |
641.717 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
98.409 |
140.888 |
116.754 |
|
|
|
Stores & Spares |
2.694 |
1.470 |
1.568 |
|
|
|
Capital Goods |
25.886 |
18.377 |
4.860 |
|
|
TOTAL IMPORTS |
126.989 |
160.735 |
123.182 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.69 |
2.40 |
79.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.02
|
2.03 |
1.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.26
|
3.06 |
2.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A.
|
5.04 |
3.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A.
|
0.12 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
N.A.
|
0.83 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
N.A.
|
2.48 |
2.58 |
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 |
Yes |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
29.268 |
|
Other debt unsecured |
|
2.488 |
|
Total |
N.A. |
31.756 |
Note: The registered
address of the company has been shifted from Plot No. 2/539, Pipal Wala
Mohalla, Badli, New Delhi – 110042, India to the present w.e.f.23.11.2009
CONTINGENT
LIABILITIES NOT PROVIDED FOR: -
|
PARTICULARS |
31.03.2011
(Rs.
In Millions) |
31.03.2010
(Rs.
In Millions) |
|
I) Disputed Liabilities not adjusted as
expense in various year being in appeal. |
|
|
|
a) Demand against
deduction disallowed by Income tax authorities u/s 80IB and other expenses
for the assessment year 2006-07 |
4.560 |
4.560 |
|
b) Income Tax
Demand for AY 2007-08 on certain disallowances. The Company has time beyond
the even date to file an appeal to the Income Tax Appellate Tribunal, which
it intends to. |
0.475 |
5.737 |
|
c) Demand for
Market Fees by Market Committee, |
-- |
33.535 |
|
II) Guarantees given
by the Company |
|
|
|
a) Guarantees
given to World Food Programme as a performance Guarantee |
5.000 |
-- |
|
b) Guarantees
given to Sales Tax Authorities |
0.058 |
-- |
|
c) Guarantee
given by the Company to Banks for loans availed by Cremica Industries
Limited. |
20.000 |
15.000 |
|
III) Contingent Liability for pending C and F Forms |
51.011 |
45.796 |
FIXED ASSETS:
Ø Land Freehold
Ø Land Leasehold
Ø Buildings
Ø Plant and
Machinery
Ø Furniture and
Fixtures
Ø Vehicles
Ø Computer
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. 53.77 |
|
|
1 |
Rs. 81.57 |
|
Euro |
1 |
Rs. 70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.