MIRA
INFORM REPORT
|
Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
WOLKEM INDIA LIMITED |
|
|
|
|
Registered
Office : |
E-101, Wolkem House, Mewar Industrial Area, Madri, Post Box No.21,
Udaipur-313003, Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.10.1971 |
|
|
|
|
Com. Reg. No.: |
17-001379 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
1226823 Euro
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299RJ1971PLC001379 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHW00027G/ JDHW00036B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW1831A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Mining Powder. |
|
|
|
|
No. of Employees
: |
2500 [Approximately] |
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 : |
EURO 196000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record. It enjoys
comfortable financial risk profile. The company has recorded some growth in
its turnover and profits during 2012. Trade relations are reported as decent.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
BBB+ [Long Term] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
01.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 [Short Term] |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
01.04.2013 |
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 / Corporate Office / Factory : |
E-101, Wolkem House, Mewar Industrial Area, Madri, Post Box No.21,
Udaipur-313003, Rajasthan, India |
|
Tel. No.: |
91-294-2494600/1/2 |
|
Fax No.: |
91-294-2494608 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Also Factory
Located At: ·
Tamilnadu ·
Andhra Pradesh |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Salil Singhal |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Singhal Farm House, Near Airforce Station, Rajokri, |
|
Date of Birth/Age : |
21.06.1946 |
|
Date of Appointment : |
07.08.1979 |
|
Din No.: |
00006629 |
|
|
|
|
Name : |
Mr. Arvind Singhal |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
29.11.1947 |
|
Date of Appointment : |
01.08.1995 |
|
Din No.: |
00092425 |
|
|
|
|
Name : |
Mr. Riaz Ahmed Tehsin |
|
Designation : |
Director |
|
Address : |
41, Panchwati, |
|
Date of Birth/Age : |
20.09.1939 |
|
Date of Appointment : |
10.10.1992 |
|
Din No.: |
00116729 |
|
|
|
|
Name : |
Mr. Hemender Pandwal |
|
Designation : |
Director |
|
Address : |
Chhoti Maheshwari, Street Dhan Mandi, |
|
Date of Birth/Age : |
26.03.1961 |
|
Date of Appointment : |
17.08.2002 |
|
Din No.: |
00118919 |
|
|
|
|
Name : |
Mr. Pradyumna Natvarlal Shah |
|
Designation : |
Director |
|
Address : |
Shanti Nikaten, Prabhat Colony, Santacruz (East), Mumbai – 400 055, |
|
Date of Birth/Age : |
01.01.1929 |
|
Date of Appointment : |
28.09.2002 |
|
Din No.: |
00096793 |
|
|
|
|
Name : |
Mr. Gaurang Singhal |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
10.08.1976 |
|
Date of Appointment : |
20.09.2008 |
|
Din No.: |
00092505 |
|
|
|
|
Name : |
Mr. Sutinder Kumar Mahajan |
|
Designation : |
Director |
|
Address : |
C-1, Shree Stambh, 320 Amba Mata Scheme, Udaipur-313001, Rajasthan,
India |
|
Date of Birth/Age : |
01.01.1945 |
|
Date of Appointment : |
30.07.2011 |
|
Din No.: |
00957689 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Chandra Sharma |
|
Designation : |
Secretary |
|
Address : |
L 402, Hiran Magri, Sector 9, UIT Colony, Double Story, Udaipur-312001,
Rajasthan, India |
|
Date of Birth/Age : |
10.03.1965 |
|
Date of Appointment : |
01.04.2005 |
|
Pan No.: |
AFBPS9677K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arvind Singhal / Bina Singhal |
|
526240 |
|
Saraswati Singhal / Arvind Singhal |
|
490490 |
|
Arvind Singhal / Bina Singhal |
|
759145 |
|
Arvind Singhal HUF / Bina Singhal |
|
8960 |
|
Bina Singhal / Arvind Singhal |
|
442000 |
|
Anupama Singhal / Bina Singhal |
|
124200 |
|
Gaurang Singhal / Bina Singhal |
|
959370 |
|
Arvind Singhal / Bina Singhal |
|
7470 |
|
Manali Singhal / Ravi Singhal |
|
37500 |
|
Bina Singhal / Arvind Singhal |
|
514240 |
|
Gaurang Singhal / Arvind Singhal |
|
23250 |
|
Anupama Jalan / Arvind Singhal |
|
32000 |
|
Arvind Singhal HUF |
|
43520 |
|
Arvind Singhal, Partner Minpro Industries, India |
|
3578170 |
|
Arvind Singhal |
|
1600 |
|
Gaurang Singhal / Arvind Singhal |
|
314390 |
|
Nitya Singhal / Gaurang Singhal |
|
484000 |
|
Mecron Inc. 2, Tortola, Island |
|
216000 |
|
Hemender Pandwal |
|
280 |
|
Nitranjan Sharma |
|
200 |
|
Kavya Singhal [Acting through his natural guardian Gaurang Singhal] |
|
100000 |
|
Pranay Singhal [Acting through his natural guardian Gaurang Singhal] |
|
100000 |
|
|
|
|
|
TOTAL
|
|
8763025 |
AS ON 25.09.2012
|
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] |
|
2.46 |
|
Directors
or relatives of directors |
|
56.70 |
|
Other
top fifty shareholders |
|
40.84 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Mining Powder. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
2500 [Approximately] |
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||||||||||||||||||
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Bankers : |
·
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe
Parade, Mumbai – 400005, Maharashtra, India ·
State Bank of Bikaner and Jaipur, Chetak Circle,
Udaipur-313001, Rajasthan, India |
||||||||||||||||||
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|
||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
B D Gargieya and
Company Chartered
Accountants |
|
Address : |
Raj Bank
Building, M I Road Jaipur-302001, Rajasthan, India |
|
PAN No: |
ABYPG2023N |
|
|
|
|
Associates/Subsidiaries : |
·
Associated Minerals ·
Minpro Industries ·
Mynores India Private Limited
[U14219RJ1993PTC007723] ·
PI Industries Limited [L24211RJ1946PLC000469] ·
Ranjan Minerals ·
Secure Meters Limited [U74899RJ1987PLC029106] ·
Wolkem Industries Limited [U24117RJ2000PLC016151] ·
Wolkem Omega Minerals India Private Limited [U14106RJ2007PTC023768] ·
Wolkem Talc Private Limited
[U14107UR2002PTC027145] ·
Wollmine India Private Limited
[U74999AP1993PTC035758] ·
Fimakem India Limited [U27101RJ1982PLC002442] ·
Wolkem Lime Limited [U26900OR2011PLC014275] ·
Wolkem Malaysia Sdn. Bhd., Malaysia ·
Wolkem Singapore Pte. Limited ·
Wolkem Vietnam Limited |
CAPITAL STRUCTURE
AS ON 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
0.14 Euro Each |
1400000 Euro |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8763025 |
Equity Shares |
0.14 Euro Each |
1226823 Euro
|
FINANCIAL DATA
[all figures are
in Euro]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1226823 |
1226823 |
666823 |
|
|
2] Share Application Money |
000 |
000 |
000 |
|
|
3] Reserves & Surplus |
8597666 |
7856075 |
7381466 |
|
|
4] (Accumulated Losses) |
000 |
000 |
000 |
|
|
NETWORTH |
9824489 |
9082898 |
8048289 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2830640 |
2367393 |
3806615 |
|
|
2] Unsecured Loans |
328571 |
000 |
1525202 |
|
|
TOTAL BORROWING |
3159211 |
2367393 |
5331817 |
|
|
DEFERRED TAX LIABILITIES |
126463 |
120378 |
109592 |
|
|
|
|
|
|
|
|
TOTAL |
13110163 |
11570669 |
13489698 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6563996 |
6439481 |
6232103 |
|
|
Capital work-in-progress |
135440 |
43606 |
105091 |
|
|
|
|
|
|
|
|
INVESTMENT |
3245618 |
2168925 |
4609888 |
|
|
DEFERREX TAX ASSETS |
000 |
000 |
000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3175091
|
2129126 |
1636013 |
|
|
Sundry Debtors |
966934
|
980885 |
947637 |
|
|
Cash & Bank Balances |
582457
|
881887 |
520307 |
|
|
Other Current Assets |
000
|
0000 |
10513 |
|
|
Loans & Advances |
1270815
|
1236893 |
977748 |
|
Total
Current Assets |
5995297
|
5228791 |
4092218 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1034451
|
887495 |
863279 |
|
|
Other Current Liabilities |
1419052
|
958535 |
296491 |
|
|
Provisions |
351648
|
439067 |
376224 |
|
Total
Current Liabilities |
2805151
|
2285097 |
1535994 |
|
|
Net Current Assets |
3190146
|
2943694 |
2556224 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
000 |
000 |
000 |
|
|
OTHERS |
(25037) |
(25037) |
(13608) |
|
|
|
|
|
|
|
|
TOTAL |
13110163 |
11570669 |
13489698 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
17913378 |
16422295 |
13998767 |
|
|
|
Other Income |
256914 |
245575 |
218988 |
|
|
|
TOTAL (A) |
18170292 |
16667870 |
14217755 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
8133071 |
7057539 |
|
|
|
|
Employee benefit expense |
2762082 |
2441617 |
|
|
|
|
Other expenses |
5581835 |
5225082 |
|
|
|
|
Exceptional items |
(9634) |
42844 |
12837056 |
|
|
|
Prior period items |
(2500) |
(487) |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(1016986) |
(491060) |
|
|
|
|
TOTAL (B) |
15447868 |
14275535 |
12837056 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2722424 |
2392335 |
1380699 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
604725 |
583572 |
344986 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2117699 |
1808763 |
1035713 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
915462 |
812543 |
696273 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1202237 |
996220 |
339440 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
391799 |
394357 |
259976 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
810438 |
601863 |
79464 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
92.48 |
68.68 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.46
|
3.61 |
0.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.71
|
6.07 |
2.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.57
|
8.54 |
3.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.11 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.32
|
0.26 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14
|
2.29 |
2.66 |
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 |
Yes |
|
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] |
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 |
Yes |
NOTE:
The registered office of the company has been shifted from Noble House, Swaroop Sagar, Post Box No. 21, Udaipur, Rajasthan, India to the present address w.e.f.30.07.2009.
|
Unsecured Loan |
As on 31.03.2012 |
As on 31.03.2011 |
|
|
In Euro |
|
|
|
|
|
|
Intercorporate borrowings |
114285 |
000 |
|
Loans and advances from related parties |
214286 |
000 |
|
TOTAL
|
328571 |
000 |
AWARDS:
During the year
the company received the following awards for excellence:
·
“Best Employer Award-2012” from the Employers
Association of Rajasthan.
·
Certificate of Export Excellence award, from the
Chemical and Allied Products Export Promotion Council, India (CAPEXIL) sponsored
by Ministry of Commerce and Industry, Govt. of India, for export of
Wollastonite.
·
Certificate of Excellence-2011 awarded by Inc.
India for Exemplary Growth of the company.
NEW BUSINESS OPPORTUNITY:
The Company
exploring new business opportunities as well as exploring possibilities to
mechanize the manufacturing operation to bring in efficiencies and lower the
cost of production.
As a part of
diversification, the Company has signed Letter of Intent with Jindal Stainless
Steel Limited for setting up an onsite lime Plant at Odisha. For the
operational reasons this new plant is proposed to be set up under a subsidiary
company named Wolkem Lime Limited.
THE DETAILS OF THE
SUBSIDIARIES, IN BRIEF, ARE AS UNDER:
FIMAKEM INDIA LIMITED:
The Company has 3
Wet Ground Calcium Carbonate (WGCC) plants in Bhadrachalam, Rayagada and
Perundurai and is exclusively supplying WGCC to ITC and JK Paper mill in
addition to other paper mills around the plants.
During the year
Sales turnover and other income was 5877285 Euro as compared to the previous
year sale of 5582428 Euro registering a growth of 5.28%. However due to
increase in raw material prices, fuel cost, labour and change of product mix,
Profit before tax at 151428 Euro has declined by 122142 Euro.
WOLKEM MINERALS
LIMITED:
The Company is yet
to start business activities.
WILL INVESTMENTS
LIMITED:
The Company is yet
to start business activities.
WOLKEM LIME
LIMITED:
The Company is yet
to start business activities.
LAM HONG TRANSPORTATION
SERVICES AND TRADE COMPANY LIMITED (LHT):
It is in the
mining business of White Limestone and Marble.
WOLKEM VIETNAM
LIMITED (WVL):
It is a processing unit of White Limestone
WOLKEM STONES
LIMITED (WSL):
It is in the business
of marble cutting, slab and tiles making and polishing of them.
WOLKEM SINGAPORE
PTE LIMITED, SINGAPORE:
It is an
investment subsidiary for making further investment in overseas Companies.
WOLKEM MALAYSIA
SDN. BHD., MALAYSIA:
This company is established
primarily to source White Limestone from Malaysia for Raw Material requirements
of various plants in India and abroad.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90069329 |
|
Corporate
identity number of the company |
U29299RJ1971PLC001379 |
|
Name of the
company |
WOLKEM INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-101, Mewar Industrial Area, Madri, Post Box No.21, Udaipur-313003,
Rajasthan, India |
|
Type of charge |
Immovable Property Any Interest In Immovable Property Book Debts Movable property (not being pledge) Floating Charge Others |
|
Particular of
charge holder |
State Bank of Bikaner and Jaipur, Chetak Circle, Udaipur-313001,
Rajasthan, India Email: sbbj10209@sbbj.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
Agreement of hypothecation. Letter regarding
grant of Individual limit. Supplemental
Agreement of Loan. Memorandum of
Entry for Extension of Equitable Mortgage. |
|
Date of instrument
Creating the charge |
05.12.2012 |
|
Amount secured by
the charge |
Euro 6942857 |
|
Short particulars
of the property charged |
First charge by
way of hypothecation of raw materials, stock in progress, finished goods,
stores and consumables, spares, book debts and other current assets (present
/ future) of the company. First charge on
the fixed assets of the company including equitable mortgage of land and
building. First charge on
the assets to be created out of the proposed loan of Euro 428571 with a
project of Euro 614285 |
|
Date of latest
modification prior to the present modification |
20.06.2012 |
|
Particulars of
the present modification |
New TL for Euro
428571 sanctioned to the company and Cash Credit limit has enhanced to Euro 2642857
from Euro 1928571. The overall limit has increased to Euro 6942857. Details
are as under:- CC Euro 2642857 Stand by Euro
285714 TL (1) of Euro
1642857, (2) Euro 857142 and (3) New
Euro 428571 BG Euro 142857
and Forward Contract Euro 85714. Accordingly a
Memorandum of Entry has executed by the bank for recording the above changes
and partial release of land documents. |
FIXED ASSETS:
- Land -
Leasehold
- Land -
Freehold
- Buildings
- Plant and
Machinery
- Air Pollution
Dust Control
- Electrical
Installation
- Power House
- Office
Vehicles
- Furniture and
Fixtures
- R and D
Equipment
- Office
Laboratory and Machinery Equipment
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.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
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 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
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.