MIRA INFORM REPORT
|
Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
GANESH POLYCHEM LIMITED (w.e.f. 23.01.2003) |
|
|
|
|
Formerly Known
As : |
GANESH POLYCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Udyog Kshetra, 2nd Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.11.2001 |
|
|
|
|
Com. Reg. No.: |
11-133900 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.61.365
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299MH2001PLC133900 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG07085B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG6160B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Specialty Chemicals. |
|
|
|
|
No. of Employees
: |
Information declined by management |
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 1800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Mumbai based Aarti Group and
Bandodkar Group. It is an established company having a satisfactory track record. The ratings taken into consideration of the improvement in profit
margins of the company in FY13. The company also comfort from the strong
managerial and financial support that GPL derives from its promoter, Aarti
Industries Limited; comfortable capital structure with moderate gearing and
healthy coverage indicators. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. Note: Partial financial information for the year 2013 taken from ICRA. |
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated substantially
and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based facilities: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
October 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based facilities: A 2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
October 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.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-67976666)
LOCATIONS
|
Registered Office : |
Udyog Kshetra, 2nd Floor, |
|
Tel. No.: |
91-22-67976666 |
|
Fax No.: |
91-22-25653234 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Ban Chem House, P-63, Milap Nagar, MIDC Road No.21, Dombivli (East),
Thane – 421 203, Maharashtra, India |
|
Tel. No.: |
91-251-2448395 (3 Lines) |
|
Fax No.: |
91-251-2451929 |
DIRECTORS
As on 29.09.2012
|
Name : |
Ms. Hetal Gogri Gala |
|
Designation : |
Director |
|
Address : |
552-B, Gopal Sadan, Block No.801, 8th Floor, Jame Jamshed Road, Matunga (West), Mumbai - 400 019, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1975 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
00005499 |
|
PAN No. : |
AABPG1598G |
|
|
|
|
Name : |
Mr. Hemant Ratnakar Bandodkar |
|
Designation : |
Director |
|
Address : |
RL-72, Milap Nagar, MIDC Residential Zone, Dombivli (East), Thane – 421 203, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1973 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
01061791 |
|
PAN No. : |
AAEPB4737H |
|
|
|
|
Name : |
Mr. Rashesh Chandrakant Gogri |
|
Designation : |
Director |
|
Address : |
601, Antariksh, Murar Road Mulund (West), Mumbai - 400 080, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1974 |
|
Date of Appointment : |
07.11.2001 |
|
DIN No.: |
00066291 |
|
PAN No. : |
AACPG0778M |
|
Election Commission Identity Card No.: |
MT\07\052\802516 |
|
|
|
|
Name : |
Mr. Ratnakar Tukaram Bandodkar |
|
Designation : |
Director |
|
Address : |
RL-72, Milap Nagar, MIDC Residential Zone, Dombivli (East), Thane – 421 203, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1939 |
|
Date of Appointment : |
07.11.2001 |
|
DIN No.: |
00201704 |
|
|
|
|
Name : |
Mr. Venkateswara Rao Samavedula |
|
Designation : |
Additional Director |
|
Address : |
Flat No.C-205, Everest Co-Operative Housing Society, G.I.D.C., Vapi, District Valsad, Vapi – 396 195, Gujarat, India |
|
Date of Birth/Age : |
01.11.1956 |
|
Date of Appointment : |
08.02.2011 |
|
DIN No.: |
01713317 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Aarti Industries Limited, India |
|
1970610 |
|
Aarti Industries Limited, India |
|
3 |
|
Aarti Industries Limited, India |
|
2 |
|
Aarti Industries Limited, India |
|
2 |
|
Aarti Industries Limited, India |
|
2 |
|
Aarti Industries Limited, India |
|
2 |
|
Ratnakar T. Bandodkar Gauri Bandodkar |
|
757211 |
|
Gauri R. Bandodkar Ratnakar T. Bandodkar |
|
757211 |
|
Pallavi R. Bandodkar Gauri R. Bandodkar |
|
757211 |
|
Hemant R. Bandodkar Ratnakar T. Bandodkar |
|
796624 |
|
Rashesh C. Gogri Chandrakant Gogri |
|
44000 |
|
Aarti R. Gogri Rajendra V. Gogri |
|
243391 |
|
Hetal Gogri Gala Jaya C. Gogri |
|
306885 |
|
Mirik R. Gogri Rajendra V. Gogri |
|
211645 |
|
Rashesh C. Gogri Manisha R. Gogri |
|
291715 |
|
Total
|
|
6136514 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
32.11 |
|
Directors or relatives of Directors |
60.47 |
|
Other top fifty shareholders |
7.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Specialty Chemicals. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity (In M.T. /P.A.) |
|
Di-Chloro Diphenyl Sulfone |
3,000 |
|
Di-Methyl Aniline |
3,500 |
|
Di-Methyl Sulphate |
5,000 |
|
Particulars |
Actual
Production QTY (KGS) |
|
Di-Chloro Di-Phenyl Sulfone |
2528000 |
|
Di-Amino Di-Phenyl Sulfone |
84275 |
|
Di-Methyl Aniline |
2486691 |
|
Di-Methyl Sulphate |
4853494 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
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Bankers : |
State Bank of |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vora Sanghavi and Associates Chartered Accountants |
|
Address : |
203, Chheda Bhavan, 98, |
|
Tel. No.: |
91-22-23481063 |
|
PAN.: |
AAAPV8139M |
|
|
|
|
Associates : |
Aarti Industries Limited |
|
|
|
|
Related Parties : |
CIN: U24239MH1992PLC068275
CIN: U24110MH1998PTC115291
CIN: L37060MH1984PLC055433
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6136514 |
Equity Shares |
Rs.10/- each |
Rs.61.365
Millions |
|
|
|
|
|
FINANCIAL DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
61.365 |
68.508 |
|
(b) Reserves & Surplus |
|
408.148 |
410.224 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
469.513 |
478.732 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
78.392 |
34.067 |
|
(b) Deferred tax liabilities (Net) |
|
40.763 |
34.315 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
3.034 |
3.503 |
|
Total Non-current
Liabilities (3) |
|
122.189 |
71.885 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
96.502 |
66.515 |
|
(b) Trade
payables |
|
107.612 |
87.621 |
|
(c) Other
current liabilities |
|
0.000 |
0.000 |
|
(d) Short-term
provisions |
|
15.166 |
2.430 |
|
Total Current
Liabilities (4) |
|
219.280 |
156.566 |
|
|
|
|
|
|
TOTAL |
|
810.982 |
707.183 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
373.196 |
339.174 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
47.817 |
19.640 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
421.013 |
358.814 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
102.537 |
72.314 |
|
(c) Trade
receivables |
|
179.861 |
157.893 |
|
(d) Cash
and cash equivalents |
|
7.126 |
10.968 |
|
(e)
Short-term loans and advances |
|
100.445 |
107.194 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
389.969 |
348.369 |
|
|
|
|
|
|
TOTAL |
|
810.982 |
707.183 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
31.140 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
284.096 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
315.236 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
93.164 |
|
|
2] Unsecured Loans |
|
|
78.311 |
|
|
TOTAL BORROWING |
|
|
171.475 |
|
|
DEFERRED TAX LIABILITIES |
|
|
28.428 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
515.139 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
321.857 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
72.275
|
|
|
Sundry Debtors |
|
|
113.701
|
|
|
Cash & Bank Balances |
|
|
4.664
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
71.543
|
|
Total
Current Assets |
|
|
262.183 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
52.849
|
|
|
Other Current Liabilities |
|
|
2.777
|
|
|
Provisions |
|
|
13.275
|
|
Total
Current Liabilities |
|
|
68.901 |
|
|
Net Current Assets |
|
|
193.282
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
515.139 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
818.401 |
850.038 |
467.907 |
|
|
|
Other Income |
8.739 |
3.192 |
2.228 |
|
|
|
TOTAL (A) |
827.140 |
853.230 |
470.135 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
508.599 |
|
|
|
|
|
Purchases of stock-in-trade |
27.080 |
20.258 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(25.301) |
9.534 |
377.377 |
|
|
|
Employee benefit expense |
22.038 |
18.939 |
|
|
|
|
Other expenses |
195.014 |
157.515 |
|
|
|
|
TOTAL (B) |
727.430 |
672.769 |
377.377 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
99.710 |
180.461 |
92.758 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.529 |
11.760 |
22.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
83.181 |
168.701 |
70.165 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.336 |
21.809 |
22.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
59.845 |
146.892 |
48.143 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.064 |
(16.603) |
13.841 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.781 |
163.495 |
34.302 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
366.193 |
219.048 |
188.651 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
16.350 |
3.905 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
366.193 |
219.048 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export Sales |
493.013 |
585.904 |
295.391 |
|
|
TOTAL EARNINGS |
493.013 |
585.904 |
295.391 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Packing Materials |
|
4.760 |
2.161 |
|
|
|
Raw Materials |
|
134.848 |
79.276 |
|
|
TOTAL IMPORTS |
94.840 |
139.608 |
81.437 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.65 |
23.87 |
11.02 |
|
|
|
PARTICULARS |
31.03.2013 |
|
|
|
|
|
|
Operating Income
|
953.000 |
|
|
|
|
|
|
Operating Profit
|
155.000 |
Note: Partial financial information for the year 2013 taken from ICRA.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.93
|
19.16 |
7.30
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.31
|
17.28 |
10.29
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.38
|
20.77 |
8.24
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.31 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.37
|
0.21 |
0.76
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.48
|
3.93 |
3.81
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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] |
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 |
Yes |
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
73.492 |
33.492 |
|
Other loans and advances, others |
0.575 |
0.575 |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
0.417 |
|
Other loans and advances |
0.000 |
6.226 |
|
Total |
74.067 |
40.710 |
DISCLOSURE OF
CONTINGENT LIABILITIES
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
Letters of Credit, Bank Guarantees and Bills Discounted |
39.297 |
32.608 |
|
Estimated Amount of contracts to be executed on capital accounts (net of advances) |
0.852 |
1.858 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90146367 |
07/05/2012 * |
206,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL
BRANCH, N. G. N. VAIDYA MARG, BANK STREET, HORNIMAN CIRCLE, MUMBAI, MAHARASHTRA
- 400001, INDIA |
B40457301 |
Note: * Date of charge modification
FIXED ASSETS:
·
Land
·
Goodwill
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Computer Systems
·
Office Equipments
·
Vehicles
·
Technical Know-how
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.61.92 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
|
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.