MIRA
INFORM REPORT
|
Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANDOZ PRIVATE LIMITED [w.e.f. 16.04.2003] |
|
|
|
|
Formerly Known
As : |
SANDOZ PHARMA (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sandoz House, Dr.
A. B. Road, Worli, Mumbai – 400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.03.1995 |
|
|
|
|
Com. Reg. No.: |
11-086989 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.32.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1995PTC086989 |
|
|
|
|
IEC No.: |
MUMN06026G |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AAACS9267J |
|
|
|
|
PAN No.: [Permanent Account No.] |
Private Limited
Liability Company |
|
|
|
|
Legal Form : |
Manufacturers,
Importers and Exporters of Drugs and Tablets etc. |
|
|
|
|
Line of Business
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9140000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Novartis Holding AG, Basel” It is a well established company having satisfactory track record. Financially
company appears to be good. Performance capability seems to be high. The subject gets good support from its holding companies. The
promoters seem to be experienced businessman. Trade relations are reported to be fair. Business is active. Payment
are reported to be usually correct and as per commitments. 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
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 DECLILNED BY
|
Name : |
Mr. Nishit Vaidya |
|
Designation : |
General Manager |
|
Contact No.: |
91-22-27639335 |
|
Date : |
08.03.2013 |
LOCATIONS
|
Registered Office : |
Sandoz House, |
|
Tel. No.: |
91-22-24939258 /
24981620 / 24982095 / 27639157 / 27639335 |
|
Fax No.: |
91-22-24981620 /
56512121 / 24982099 / 27639064 / 27639012 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Sandoz House,
Shivsagar Estate, A Block, 6th Floor, Mumbai – 400013, |
|
Tel. No.: |
91-22-24981623 |
|
|
|
|
Factory: |
MIDC, Plot No.
8-A/2, 8-B TTC Industrial Area, Kawle Block, Village Dighe, Opposite Thane
Belapur Road, Navi Mumbai – 400 708, Maharashtra, India |
|
Tel No.: |
91-22-24982091 |
|
Fax No. : |
91-22-24982099 |
|
|
|
|
Branch 1 : |
|
|
Tel. No.: |
91-22-25314080 |
|
Fax No.: |
91-22-25314111 |
|
|
|
|
Branch 2 : |
7th Floor,
Peninsula Towers, Corporate Park, Ganpatrao Kadam Marg, Off Senapati Bapat
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-56512100 |
|
Fax No.: |
91-22-56512121 |
|
|
|
|
Production
Site : |
Plot No. D-31 and
Plot No. D-32, MIDC, TTC Industrial Area, Turbhe, Navi Mumbai – 400705, |
|
Tel No.: |
91-22-55910485 |
|
Fax No. : |
91-22-55910472 |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Mohit Jagdish
Malhotra |
|
Designation : |
Director |
|
Address : |
A-29/B, DDA
Flats, Munirka, New Delhi-110067, India |
|
Date of
Birth/Age : |
03.04.1970 |
|
Date of
Appointment : |
01.07.2010 |
|
Din No.: |
03061163 |
|
|
|
|
Name : |
Mr. Govindarajan
Venkatachary |
|
Designation : |
Director |
|
Address : |
204, Vakratonda, |
|
Date of
Birth/Age : |
24.08.1951 |
|
Qualification
: |
B. Sc |
|
Date of
Appointment : |
14.04.2008 |
|
Din No.: |
00819520 |
|
|
|
|
Name : |
Mr. Cesare
Frontini |
|
Designation : |
Director |
|
Address : |
Herzog – Heinrich
– STR 15 80336 Munchen, Germany-000000 |
|
Date of
Birth/Age : |
01.12.1966 |
|
Date of
Appointment : |
14.04.2008 |
|
Din No.: |
02051887 |
|
|
|
|
Name : |
Mr. Anshuman
Tikaram Sharma |
|
Designation : |
Director |
|
Address: |
Flat No. 901, 9th
Floor, Seaking Plot-217, AHK Bhaba Road, Bandstand, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of
Birth/Age : |
30.08.1965 |
|
Date of
Appointment: |
09.06.2010 |
|
Din No.: |
02225737 |
|
|
|
|
Name : |
Pohl Theodor
Matthias |
|
Designation : |
Director |
|
Address: |
Ebertstrasse 5,
Bad Saeckingen-79713, Germany |
|
Date of
Birth/Age : |
27.06.1962 |
|
Date of
Appointment: |
07.12.2011 |
|
Din No.: |
03633995 |
KEY EXECUTIVES
|
Name : |
Mr. Nishit Vaidya |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Novartis Holding
A G, Switzerland |
|
3199995 |
|
Novartis A G,
Switzerland |
|
5 |
|
|
|
|
|
TOTAL
|
|
3200000 |
AS ON 30.09.2012
|
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] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importers
and Exporters of Drugs and Tablets etc. |
|
|
|
|
Products : |
·
Tablets ·
Bulk
Drugs ·
Nasal
Sprays |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
|
Bulk Drugs and Drug Intermediates |
Metric Tonnes |
472 |
|
Tablets |
Thousand Numbers |
3501032 |
|
Capsules |
Thousand Numbers |
798968 |
|
Vials |
Thousand Numbers |
11290 |
Information in respect of Licensed Capacity is not furnished in view of withdrawal of licensing requirements vide Gazette Notification No. S.O. 477(E) dated 25th July, 1991.
The installed capacities, being a technical matter, are as certified by the management and not verified by the auditors.
Installed Capacity of previous year excludes the production capacity for Tablets and Granules produced in Turbhe plant as production was discontinued and assets were held for sale. During the previous year, 2,659 Thousand Tablets and 8.3 Metric Tonnes of Granules were produced.
|
Particulars |
Unit |
Actual
Production |
|
Bulk Drugs and Drug Intermediates |
Metric Tonnes |
1290 |
|
Formulation: Tablets |
Thousand Numbers |
1171471 |
|
Capsules |
Thousand Numbers |
463525 |
|
Nasal Sprays |
Litres |
10210 |
|
Kit (Combi Pack of Capsules and Tablets) |
Thousand Numbers |
4025 |
|
Granules |
Kgs |
-- |
|
Injectables |
Thousand Vials/Ampoules |
2156 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Standard
Chartered Bank, 90, M G Road, Fort, Mumbai – 400001, Maharashtra, India ·
BNP
Paribas, 62, Homji Street, Fort, Mumbai – 400001, Maharashtra, India ·
Union
Bank of India, Union Bank Bhavan, First Floor, 239, Vidhan Bhavan Marg,
Nariman Point, Mumbai – 400021, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252,Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbai-400028, Maharashtra, India |
|
PAN No: |
AAEFP5579P |
|
|
|
|
Holding Company
: |
Novartis Holding AG, |
|
|
|
|
Ultimate Holding
Company: |
Novartis AG, |
|
|
|
|
Fellow
Subsidiaries : |
·
Chiron Behring Vaccines Private Limited
[U24230MH1997PTC111122] ·
Novartis Healthcare Private Limited [U15202MH1997PTC111257] ·
Novartis India Limited [L24200MH1947PLC006104] ·
N.V. Sandoz S.A. ·
Hexal AG, Germany ·
JenaHexal Pharma Gmbh, Germany ·
Novartis Asia Pacific, Singapore ·
LEK Pharmaceuticals DD, Slovenia ·
Novartis Pharma Services Inc., Switzerland ·
Novartis Animal Health Australasia Pty Limited,
Australia ·
Novartis Bangladesh Limited, Bangladesh ·
Novartis Biociencias S.A., Brazil ·
Novartis Consumer Health SA, Switzerland ·
Novartis Consumer Health, Inc, United States ·
Novartis Corporation (Malaysia) ·
Novartis Vaccines and Diagnostics, Switzerland ·
Novartis France SA, France ·
Novartis Thailand Limited, Thailand ·
Novartis International AG, Switzerland ·
PT Novartis Indonesia ·
Novartis Pharma (Pakistan) Limited ·
PT Sandoz Indonesia ·
Salutas Pharma GmbH, Germany ·
Sandoz U.S, United States ·
Sandoz AG, Switzerland ·
Sandoz Do Brasil Industria ·
Sandoz Canada Inc., Canada ·
Sandoz GmbH, Austria ·
Sandoz S.P.A, Italy ·
Sandoz Inc., United States ·
Sandoz International GmbH, Germany ·
Sandoz K K, Japan ·
Sandoz Philipines Corporation, Philippines ·
Sandoz A/S, Denmark ·
Sandoz Pty Limited, Austria ·
Sandoz (SA) Pty Limited, Australia ·
SC Sandoz S.R.L.,, Romania ·
Novartis Vaccines and Diagnostics Limited, Italy |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10 each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3200000 |
Equity Shares |
Rs.10 each |
Rs.32.000 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 |
32.000 |
32.000 |
32.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2253.600 |
1797.300 |
1471.108 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2285.600 |
1829.300 |
1503.108 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
545.700 |
353.400 |
586.117 |
|
|
2] Unsecured Loans |
6325.500 |
6714.300 |
5934.608 |
|
|
TOTAL BORROWING |
6871.200 |
7067.700 |
6520.725 |
|
|
DEFERRED TAX LIABILITIES |
247.200 |
145.200 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9404.000 |
9042.200 |
8023.833 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4762.800 |
5024.700 |
4520.764 |
|
|
Capital work-in-progress |
409.700 |
258.800 |
843.698 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
1.200 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
2.847 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4251.000
|
4776.100 |
3169.124 |
|
|
Sundry Debtors |
1976.300
|
1423.000 |
1751.052 |
|
|
Cash & Bank Balances |
7.800
|
45.900 |
25.152 |
|
|
Other Current Assets |
0.000
|
5.500 |
11.457 |
|
|
Loans & Advances |
1828.000
|
1604.300 |
1543.368 |
|
Total
Current Assets |
8063.100
|
7854.800 |
6500.153 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3387.400
|
2872.300 |
3512.337 |
|
|
Other Current Liabilities |
245.200
|
1031.600 |
78.695 |
|
|
Provisions |
199.000
|
192.200 |
253.797 |
|
Total
Current Liabilities |
3831.600
|
4096.100 |
3844.829 |
|
|
Net Current Assets |
4231.500
|
3758.700 |
2655.324 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9404.000 |
9042.200 |
8023.833 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sale of Products [Net] |
12046.000 |
9648.000 |
8395.875 |
|
|
|
Sale of Service |
1743.000 |
1592.000 |
1330.669 |
|
|
|
Other Operating Revenue |
91.000 |
64.000 |
0.000 |
|
|
|
Other Income |
44.000 |
82.000 |
122.848 |
|
|
|
TOTAL (A) |
13924.000 |
11386.000 |
9849.392 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
10912.000 |
5533.344 |
|
|
|
Administrative Expenses |
|
|
3307.422 |
|
|
|
Advertising Expenses |
|
|
109.361 |
|
|
|
TOTAL (B) |
13366.000 [Including
Financial Expenses and Depreciation] |
10912.000 [Including
Financial Expenses and Depreciation] |
8950.127 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
899.265 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
360.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
538.326 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
534.962 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
558.000 |
474.000 |
3.364 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
102.000 |
148.000 |
32.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
456.000 |
326.000 |
(29.039) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1699.000 |
1372.897 |
1401.936 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2155.000 |
1698.897 |
1372.897 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2570.501 |
3624.077 |
|
|
|
Packing Materials |
NA |
132.007 |
108.612 |
|
|
|
Finished Goods |
NA |
1.217 |
453.109 |
|
|
|
Capital Goods |
NA |
157.306 |
285.176 |
|
|
|
Spares and Consumables |
NA |
33.382 |
60.338 |
|
|
TOTAL IMPORTS |
NA |
2894.413 |
4531.312 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
142.50 |
101.93 |
(9.07) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.27
|
2.86 |
(0.29) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.05
|
4.22 |
0.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35
|
3.68 |
0.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.25 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.00
|
3.86 |
4.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10
|
1.92 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
3387.400
|
2872.300 |
3512.337 |
|
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 |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
DISCLOSURE OF AMALGAMATIONS:
Scheme of
Amalgamation of erstwhile Hexal Pharma Private Limited with the company as sanctioned
by the Honourable High Court of Bombay on March 25, 2011, the assets and
liabilities of Hexal Pharma Private Limited were transferred to and vested in
the company with effect from April 1, 2010. The scheme was accordingly given
effect to in the Financial Statements. The scheme was accounted for under the
pooling of interests method as prescribed by Accounting Standard (AS-14),
notified under sub-section (3C) of Section 211 of the Act. Accordingly, the
assets, liabilities and other reserves of the erstwhile subsidiary as at the
aforementioned date were taken over at their book values. There was no
adjustment for differences in accounting policies between the companies. The
Company had filed court order (amalgamation of Hexal Pharma Private Limited with
the Company) with the Registrar of Companies in Form 21 on April 22, 2011,
which till date has been held in abeyance by Registrar Of Companies.
PERFORMANCE /
OPERATIONS:
SALES:
Sales grew by 25%
(Rs. 2398.000 Millions) primarily due to increase in exports. Export sales
increased by Rs. 2044.000 Millions mainly arising out of products of Kalwe and
Turbhe plants. Increase in export sales as compared to earlier year amounts to
25%.
PROFIT:
Profit increased during the year mainly on account of higher sales and
better profitability.
FIXED
ASSETS:
- Trademarks
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- 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 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.54.40 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.