MIRA INFORM REPORT
|
Report Date : |
14.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
POONA DAL AND OIL INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
103/104, Hadapsar Industrial Estate, Pune – 411013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.01.1993 |
|
|
|
|
Com. Reg. No.: |
11-070263 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 57.080 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15313PN1993PLC070263 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP02881E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP2950L |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Edible Oil and Pulses. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
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 840000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of ‘PDBM Group’. It is an established company having satisfactory track record. The ratings draw comfort from the continued operational and financial support
derived by the company from the parent group, the established position in the
geographies it is present in and the stable demand for the products the
company deals in. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
Cash Credit : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund based limit : A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
March 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 PARTED BY
|
Name : |
Mr. Atul |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-26816020 |
|
Date : |
09.11.2013 |
LOCATIONS
|
Registered/ Corporate Office : |
103/104, Hadapsar Industrial Estate, Pune - 411013, Maharashtra, India |
|
Tel. No.: |
91-20-26816020/ 26816024 |
|
Fax No.: |
91-20-26816021 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Plant 1 : |
Gat No. 366 Shikrapur, Taluka Shirur, District Pune – 412208,
Maharashtra, India |
|
|
|
|
Plant 2 : |
E-2, Kurkumbh MIDC Kurkumbh, Taluka Daund, District Pune – 413801,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Pradip P. Parakh |
|
Designation : |
Chairman and Managing Director |
|
Date of
Birth/Age : |
07.05.1955 |
|
Qualification : |
B. Com |
|
Expertise
in specific functional areas : |
Expertise in Processing of Edible Oil |
|
Date of
Appointment : |
30.06.2005 |
|
|
|
|
Name : |
Mr. Mahendra S Mehta |
|
Designation : |
Director |
|
Date of
Birth/Age : |
05.05.1963 |
|
Qualification : |
B.Com, LLB, FCA |
|
Date of
Appointment : |
23.08.1995 |
|
|
|
|
Name : |
Mr. Jitendra H Palnitkar |
|
Designation : |
Director |
|
Date of
Birth/Age : |
03.04.1966 |
|
Qualification : |
B. Com, LLB, FCA |
|
Expertise
in specific functional areas : |
Expertise in Finance and Taxation |
|
Date of
Appointment : |
30.06.2005 |
|
|
|
|
Name : |
Mr. Ayushman Mehta |
|
Designation : |
Director |
|
Date of
Birth/Age : |
28.06.1981 |
|
Qualification : |
M.Com |
|
Expertise
in specific functional areas : |
Expertise in Business and Industry |
|
Date of
Appointment : |
21.03.2012 |
|
|
|
|
Name : |
Mr. Pankaj C Baldota |
|
Designation : |
Director (Works) |
|
Date of
Birth/Age : |
17.10.1971 |
|
Qualification : |
B.Com |
|
Expertise
in specific functional areas : |
Expertise in Processing and Manufacturing of Besan and other Flour
Products |
|
Date of
Appointment : |
29.09.1997 |
|
|
|
|
Name : |
Mr. Shailesh C Doshi |
|
Designation : |
Director (Works) |
|
Date of
Birth/Age : |
11.01.1970 |
|
Qualification : |
B.Sc |
|
Date of
Appointment : |
01.06.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Atul |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Category
of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
||
|
|
4021819 |
70.46 |
|
|
4021819 |
70.46 |
|
|
||
|
Total
shareholding of Promoter and Promoter Group (A) |
4021819 |
70.46 |
|
(B) Public
Shareholding |
||
|
|
||
|
|
||
|
|
26161 |
0.46 |
|
|
||
|
|
1384954 |
24.26 |
|
|
257649 |
4.51 |
|
|
17417 |
0.31 |
|
|
17417 |
0.31 |
|
|
1686181 |
29.54 |
|
Total Public
shareholding (B) |
1686181 |
29.54 |
|
Total (A)+(B) |
5708000 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
5708000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Edible Oil and Pulses. |
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Products/ Services : |
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Imports : |
|
||||
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Products : |
Raw Material |
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|
||||
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Terms : |
|
||||
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
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|
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Bankers : |
· Central Bank of India, Pune, Maharashtra, India · Corporation Bank, Pune, Maharashtra, India |
|||||||||||||||||||||
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|
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Facilities : |
|
|||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Z. Gandhi and Company Chartered Accountants |
|
Address : |
103, Ekta Complex, Sadashiv Peth, Pune – 411030, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,708,000 |
Equity Shares |
Rs. 10/- each |
Rs. 57.080
Millions |
|
|
|
|
|
Details of Shareholders Holding More Than 5%
Shares in the Company
|
Name of Shareholder |
31.03.2013 |
|
|
|
No.
of Shares |
%
of Holding |
|
Deepchand
Kesharchand Parakh |
336,810 |
5.90 |
|
Jalamchand
Kesharchand Parakh |
336,700 |
5.90 |
|
Meera Sujit
Parakh |
293,960 |
5.15 |
|
Rajeshree Sunil
Parakh |
293,710 |
5.15 |
|
Sujit Deepchand
Parakh |
451,850 |
7.92 |
|
Sunil Deepchand
Parakh |
286,300 |
5.02 |
|
Sunil Deepchand Parakh
(HUF) |
321,200 |
5.63 |
|
Swapnil
Jalamchand Parakh |
355,550 |
6.23 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
57.080 |
57.080 |
57.080 |
|
(b) Reserves & Surplus |
153.132 |
133.230 |
116.394 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
210.212 |
190.310 |
173.474 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
40.946 |
7.306 |
77.836 |
|
(b)
Trade payables |
64.655 |
71.432 |
297.493 |
|
(c)
Other current liabilities |
10.617 |
17.337 |
19.752 |
|
(d)
Short-term provisions |
2.869 |
2.180 |
1.125 |
|
Total
Current Liabilities (4) |
119.087 |
98.255 |
396.206 |
|
|
|
|
|
|
TOTAL |
329.299 |
288.565 |
569.680 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
87.244 |
104.592 |
106.597 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
87.244 |
104.592 |
106.597 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
63.671 |
105.025 |
162.694 |
|
(c)
Trade receivables |
34.575 |
57.274 |
67.688 |
|
(d)
Cash and cash equivalents |
125.504 |
9.804 |
214.958 |
|
(e)
Short-term loans and advances |
2.938 |
2.155 |
5.462 |
|
(f)
Other current assets |
15.367 |
9.715 |
12.281 |
|
Total
Current Assets |
242.055 |
183.973 |
463.083 |
|
|
|
|
|
|
TOTAL |
329.299 |
288.565 |
569.680 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations |
3642.299 |
2799.017 |
2740.558 |
|
|
|
Other Income |
25.235 |
6.807 |
5.749 |
|
|
|
TOTAL |
3667.534 |
2805.824 |
2746.307 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Production And Other
Direct Expenses |
1434.044 |
1390.019 |
1471.759 |
|
|
|
Purchases of Traded
Goods |
2070.594 |
1360.441 |
1141.657 |
|
|
|
(Increase)/Decrease In
Inventories of Finished Foods |
31.857 |
(42.257) |
29.676 |
|
|
|
Employee Benefits Expenses |
15.206 |
11.445 |
14.600 |
|
|
|
Other Expenses |
46.864 |
32.327 |
20.352 |
|
|
|
Directors’ Remuneration |
1.320 |
1.454 |
1.224 |
|
|
|
Exceptional Items |
0.000 |
1.967 |
0.000 |
|
|
|
TOTAL |
3599.885 |
2755.396 |
2679.268 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
67.649 |
50.428 |
67.039 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
17.577 |
3.257 |
16.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
50.072 |
47.171 |
50.958 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.695 |
13.579 |
14.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
37.377 |
33.592 |
36.423 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.500 |
11.000 |
12.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
25.877 |
22.592 |
24.423 |
|
|
|
|
|
|
|
|
|
|
Short Provision
of Taxes of Earlier Year W/off |
0.005 |
0.022 |
0.828 |
|
|
|
|
|
|
|
|
|
|
PROFIT FOR THE
YEAR |
25.872 |
22.570 |
23.595 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
2076.796 |
873.647 |
1123.108 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.53 |
3.95 |
4.13 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2013 |
30.09.2013 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
664.300 |
772.200 |
|
Total Expenditure |
|
656.800 |
761.000 |
|
PBIDT (Excl OI) |
|
7.600 |
11.200 |
|
Other Income |
|
3.400 |
2.100 |
|
Operating Profit |
|
11.000 |
13.300 |
|
Interest |
|
0.500 |
4.400 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
10.500 |
8.900 |
|
Depreciation |
|
2.700 |
2.700 |
|
Profit Before Tax |
|
7.800 |
6.200 |
|
Tax |
|
2.000 |
1.800 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
5.800 |
4.400 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
5.800 |
4.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.71
|
0.81 |
0.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.03
|
1.20 |
1.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.35
|
11.64 |
6.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.18 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.19
|
0.04 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
1.87 |
1.17 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10188566 |
13/03/2013 * |
2,170,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
317, M.G. ROAD, CAMP, PUNE - 411001, MAHARASHTRA, INDIA |
B70413349 |
|
2 |
10060366 |
06/06/2011 * |
2,170,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
317, M.G. ROAD, CAMP, PUNE - 411001, MAHARASHTRA, INDIA |
B16898389 |
* Date of charge modification
COMPANY'S PERFORMANCE
The Company is an agro based company and operates into two segment viz.
oil division and agro division. The year witnessed slowdown in the Indian
economy which had an adverse impact on agro industries. Inspite of the above,
the Company increased its sales by Rs.843.282 Millions during the fiscal year
2012-13 as compared to the fiscal year 2011-12.
The segment wise revenue of the Company from operations for the fiscal
year 2012-13 is as follows :
Oil Division : Rs.1280.302 Millions
Agro Division : Rs.2361.997 Millions
RESULTS OF OPERATIONS
The Company generated a profit after tax from operations of Rs.25.878
Millions as compared with Rs.22.592 Millions in the previous year. The earnings
per share increased from 3.95 to 4.53 which showed an enhancement by 14.80%.
MANAGEMENT'S DISCUSSIONS AND ANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENTS
The products of the Company fall into two segments namely oil and food
grains. The oil industry consists of several players, both organized and
unorganized. Severe recessionary conditions in previous years have taken a toll
of some of these players and as mentioned in the previous annual report, the
oil industry continues to be in the grip of a severe recession, which may
persist for a year or two. Both oil and food grains depend to a large extent on
the monsoons and a favorable monsoon would have a significant impact on both
the industries.
SEGMENT-WISE OR PRODUCT-WISE PERFORMANCE
OIL DIVISION : Sales were Rs. 1280.302 Millions compared with
Rs.1380.814 Millions in the previous year due to lower offtake.
AGRO DIVISION : Sales were Rs.2361.997 Millions compared with
Rs.1418.203 Millions in the previous year. The increase in sales is due to
spurt in demand for the products.
OUTLOOK
The future outlook particularly in the area of food grains is
encouraging. However, given international trends, the oil division may come
under some pressure, on account of low margins prevalent.
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Computer
· Electrical Instruments
· Office Equipment
· Air Conditioner
· Furniture
· Equipment
· Car/Jeep
· Truck
· Motor Cycle
·
Weighing Scale
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. 63.65 |
|
|
1 |
Rs. 101.17 |
|
Euro |
1 |
Rs. 85.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.