MIRA INFORM REPORT
|
Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
CUSTOM CAPSULES PRIVATE LIMITED |
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Registered
Office : |
1001, Dalamal House, 10th Floor, Nariman Point,
Mumbai – 400 021, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
23.09.1988 |
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Com. Reg. No.: |
11-048924 |
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Capital
Investment/ Paid-up Capital: |
Rs.10.000 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U24235MH1988PTC048924 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10955A |
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PAN No.: [Permanent Account No.] |
AAACC6203G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers and Exporters of Custom sized Capsules in
Gelatin and Hpmc, Hand Operated Machines. |
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No. of
Employees: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 530000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. There appears a slight dip in the profitability during 2012. Overall
financial position appears to be good. Trade relations are fair. Business is active. Payment terms are usually
correct. 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.
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 PARTED BY
|
Name : |
Mr. Dinesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-2525-272538 |
|
Date : |
23.05.2013 |
LOCATIONS
|
Registered Office : |
1001, Dalamal House, 10th Floor, Nariman Point,
Mumbai – 400 021, |
|
Tel. No.: |
91-22-22872557 |
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Fax No.: |
91-22-22872560 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Factory : |
B-8/1, Camlin Naka, MIDC, Tarapur, Thane-401506, Maharashtra, India |
|
Tel. No.: |
91-2525-272538 |
|
Fax No.: |
91-2525-272537 |
DIRECTORS
AS ON 01.09.2012
|
Name : |
Mr. Ajit Daljit Singh |
|
Designation : |
Director |
|
Address : |
1A Brighten Building No.1, |
|
Date of Birth/Age : |
20.11.1941 |
|
Date of Appointment : |
23.09.1988 |
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DIN No.: |
00915347 |
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|
Name : |
Mr. Jasjit Daljit Singh |
|
Designation : |
Director |
|
Address : |
2-B Swapnalok L.J. Marg, |
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Date of Birth/Age : |
03.04.1943 |
|
Date of Appointment : |
23.09.1988 |
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DIN No.: |
00901470 |
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|
Name : |
Mr. Raj Vikram Tahil |
|
Designation : |
Director |
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Address : |
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Date of Birth/Age : |
07.12.1959 |
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Date of Appointment : |
12.11.2002 |
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DIN No.: |
01231912 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.09.2012
|
Names of Shareholders |
No. of Shares |
|
Class A Voting
Equity Shares |
|
|
Ajit Daljit Singh |
2150 |
|
Jasjit Daljit Singh Singh Family Trust |
562 |
|
Raj Vikram Tahil |
4900 |
|
Nandini Jasjit Singh |
250 |
|
Karan Jasjit Singh |
250 |
|
Priya Jasjit Singh |
250 |
|
Jasjit Singh Karta of Jasjit Singh (HUF) |
400 |
|
Ajit Singh, MNT Will Trust |
540 |
|
Ajit Singh Karta of Sardar Daljit Singh (HUF) |
200 |
|
Jasjit Singh Kavita Jasjit Singh |
438 |
|
Jasjit Singh, MNT Will Trust |
60 |
|
Sub
Total (A) |
10000 |
|
|
|
|
Class B Non
Voting Equity Shares |
|
|
Ajit Daljit Singh |
19350 |
|
Jasjit Daljit Singh Singh Family Trust |
5058 |
|
Nandini Jasjit Singh |
2250 |
|
Karan Jasjit Singh |
2250 |
|
Priya Jasjit Singh |
2250 |
|
Jasjit Singh Karta of Jasjit Singh (HUF) |
3600 |
|
Ajit Singh, MNT Will Trust |
4860 |
|
Ajit Singh Karta of Sardar Daljit Singh (HUf) |
1800 |
|
Kavita Jasjit Singh Jasjit Singh |
3942 |
|
Jasjit Singh, MNT Will Trust |
540 |
|
Sub
Total (B) |
45900 |
|
|
|
|
Class C Non
Voting Equity Shares (NRI) Held |
|
|
Raj Vikram Tahil |
44100 |
|
Sub
Total (C) |
44100 |
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|
|
|
TOTAL
(A+B+C) |
100000 |
AS ON 01.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Custom sized Capsules in Gelatin
and Hpmc, Hand Operated Machines. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Two piece empty gelatin capsules |
Qty in 000’s |
30000 |
18944 |
|
Pharmaceutical and allied machineries |
Qty in Nos. |
Not applicable |
3570 |
|
HPMC Capsules |
Qty in Nos. |
Not applicable |
0.020 |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· State Bank of India, Borivali (West), Mumbai, Maharashtra, India Tel No.:- 91-22-28010345 ·
Industrial Estate Branch, Kandivli (West),
Mumbai – 400 067, · Standard Chartered Bank Limited ·
HDFC Bank Limited |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. J. Thadani and Associates Chartered Accountant |
|
Address : |
2/50 Shree Ganesh Society, Next to Worli Police Station, Dr. A. B. Road, Worli, Mumbai – 400025, Maharashtra, India |
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Tel. No.: |
91-22-4948413/4926229 |
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PAN No.: |
AANFS4045A |
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Related Parties : |
DOMESTIC
COMPANIES
FOREIGN
COMPANIES
PROPRIETORSHIP
FIRMS
TRUSTS
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Class A Voting Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
45900 |
Class B Non-Voting Equity Shares |
Rs.100/- each |
Rs. 4.590 Millions |
|
44100 |
Class C Non-Voting Equity Shares |
Rs.100/- each |
Rs. 4.410 Millions |
|
|
TOTAL |
|
Rs. 10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Class A Voting Equity Shares |
Rs.100/- each |
Rs. 1.000 Millions |
|
45900 |
Class B Non-Voting Equity Shares |
Rs.100/- each |
Rs. 4.590 Millions |
|
44100 |
Class C Non-Voting Equity Shares |
Rs.100/- each |
Rs. 4.410 Millions |
|
|
TOTAL |
|
Rs. 10.000
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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
124.771 |
161.007 |
196.749 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
134.771 |
171.007 |
206.749 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
2.721 |
2.912 |
3.166 |
|
|
|
|
|
|
|
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TOTAL |
137.492 |
173.919 |
209.915 |
|
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
52.263 |
53.051 |
44.326 |
|
|
Capital work-in-progress |
0.417 |
1.758 |
5.019 |
|
|
|
|
|
|
|
|
INVESTMENT |
34.026 |
39.193 |
62.167 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.558
|
34.756
|
25.077
|
|
|
Sundry Debtors |
0.121
|
0.000
|
8.311
|
|
|
Cash & Bank Balances |
23.136
|
4.168
|
23.128
|
|
|
Other Current Assets |
0.463
|
0.911
|
0.000 |
|
|
Loans & Advances |
60.729
|
96.797
|
96.232
|
|
Total
Current Assets |
119.007
|
136.632 |
152.748 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.165
|
16.561
|
3.417
|
|
|
Other Current Liabilities |
15.452
|
6.925
|
19.335
|
|
|
Provisions |
32.604
|
33.229
|
31.593
|
|
Total
Current Liabilities |
68.221
|
56.715 |
54.345 |
|
|
Net Current Assets |
50.786
|
79.917
|
98.403 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
137.492 |
173.919 |
209.915 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
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|
|
TURNOVER (GROSS) |
187.050 |
154.511 |
151.185 |
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
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|
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|
PROFIT / (LOSS)
BEFORE TAX |
72.076 |
70.890 |
63.669 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
22.982 |
21.019 |
21.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
49.094 |
49.871 |
42.290 |
|
|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
123.956 |
164.685 |
183.888 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to General Reserve |
4.909 |
4.987 |
4.229 |
|
|
|
Two Interim
Dividends Paid each |
|
|
|
|
|
|
Class A Voting Equity Shares @ 20% (PY 20%) |
0.400 |
0.400 |
0.200 |
|
|
|
Class B Non-Voting Equity Shares @ 500% (PY 500%) |
45.900 |
45.900 |
22.950 |
|
|
|
Class C Non-Voting Equity Shares @ 30% (PY 30%) |
2.646 |
2.646 |
1.323 |
|
|
|
Tax on Dividend |
7.940 |
8.129 |
4.159 |
|
|
|
Proposed
Dividend |
|
|
|
|
|
|
Class A Voting Equity Shares @ 20% (PY 20%) |
0.200 |
0.200 |
0.200 |
|
|
|
Class B Non-Voting Equity Shares @ 500 % (PY 500%) |
22.950 |
22.950 |
22.950 |
|
|
|
Class C Non-Voting Equity Shares @ 30% (PY 30%) |
1.323 |
1.323 |
1.323 |
|
|
|
Tax on Dividend |
3.970 |
4.065 |
4.159 |
|
|
|
BALANCE CARRIED
TO THE B/S |
82.812 |
123.956 |
164.685 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
178.825 |
152.099 |
144.920 |
|
|
TOTAL EARNINGS |
178.825 |
152.099 |
144.920 |
|
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|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials (Gelatin) |
11.058 |
9.491 |
6.347 |
|
|
|
Raw Materials (Machine) |
0.000 |
0.111 |
0.000 |
|
|
|
Stores & Spares |
0.068 |
0.067 |
0.000 |
|
|
TOTAL IMPORTS |
11.126 |
9.669 |
6.347 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
490.94 |
498.71 |
422.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
42.08
|
37.37 |
32.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.41 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74
|
2.41 |
2.81 |
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 |
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
20.165
|
16.561
|
3.417
|
|
|
|
|
|
|
TOTAL |
20.165
|
16.561
|
3.417
|
PERFORMANCE
The operations of the company during the year were satisfactory.
FIXED ASSETS
- Land
- Building
- Plant and
machinery
- Furniture,
Fixtures and Other Equipment
- Motor Cars
- Computer
Software
- Patents
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. 55.99 |
|
|
1 |
Rs. 84.18 |
|
Euro |
1 |
Rs. 71.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.