|
Report Date : |
14.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMRAT REMEDIES LIMITED |
|
|
|
|
Registered
Office : |
1501, Phase - III, GIDC, Vapi – 396 195, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.08.2003 |
|
|
|
|
Com. Reg. No.: |
04-042774 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 15.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ2003PLC042774 |
|
|
|
|
IEC No.: |
0305060724 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS06519C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS3844G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Organic and Inorganic Chemicals. |
|
|
|
|
No. of Employees
: |
55 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profit of the company has dipped. External borrowing of the company
has increased in 2013. Rating also takes into consideration highly competitive nature of
chemical industry and high working capital requirement. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 |
Cash Credit: BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
May 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Bank Guarantee: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
May 2013 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Ravi Joshi |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-22-26102491 |
|
Date : |
13.11.2013 |
LOCATIONS
|
Registered Office : |
1501, Phase - III, GIDC, Vapi – 396 195, Gujarat, India |
|
Tel. No.: |
91-260-3296545 |
|
Fax No.: |
91-260-2427073 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
19600 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
303, 3rd Floor, Suyash, Hanuman Gali, Koldongri, Jagdish Nagar,
Sahar Road, Andheri (East), Mumbai – 400 069, Maharashtra, India |
|
Tel. No.: |
91-22-26102491/ 92 |
|
Fax No.: |
91-22-26101982 |
|
|
|
|
Branch Office : |
Plot No.1505, 3rd Phase, GIDC, Vapi – 396 195, Gujarat, India |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Champak Kantilal Parekh |
|
Designation : |
Whole Time Director |
|
Address : |
3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1933 |
|
Qualification : |
GDC and A |
|
Date of Appointment : |
25.08.2003 |
|
DIN No.: |
00287189 |
|
|
|
|
Name : |
Mr. Hitesh Champak Parekh |
|
Designation : |
Managing director |
|
Address : |
3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1965 |
|
Qualification : |
B. Pharma |
|
Date of Appointment : |
25.08.2003 |
|
DIN No.: |
00287229 |
|
|
|
|
Name : |
Mrs. Saroj Champak Parekh |
|
Designation : |
Whole Time Director |
|
Address : |
3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1940 |
|
Qualification : |
B. Com (Intermediate) |
|
Date of Appointment : |
16.09.2005 |
|
DIN No.: |
00287298 |
|
|
|
|
Name : |
Mrs. Sangeeta Hitesh Parekh |
|
Designation : |
Whole Time Director |
|
Address : |
3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1966 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
16.09.2005 |
|
DIN No.: |
00287345 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi Joshi |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hitesh C. Parekh |
|
462500 |
|
Hitesh C. Parekh (HUF) |
|
100000 |
|
Champak K. Parekh |
|
12500 |
|
Sangeeta Hitesh Parekh |
|
462470 |
|
Saroj Champak Parekh |
|
12500 |
|
Bindi Vinit Mehta |
|
10 |
|
Harish Dauletrai Gandhi |
|
10 |
|
Jayant L. Shah |
|
10 |
|
Central Chemical Inc., Japan |
|
81350 |
|
Total
|
|
1131350 |
As on 29.09.2012
|
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] |
|
7.19 |
|
Directors
or relatives of directors |
|
92.81 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Organic and Inorganic Chemicals. |
||||||||
|
|
|
||||||||
|
Products : |
v Calcium Iodate v Copper Iodide v Ethyl Iodide v Hydriodic Acid (56%) v Iodine v Methyl 2-Iodobenzoate v Methyl Iodide v Potassium Iodate v Potassium Iodide v Potassium Metaperiodate v Sodium Iodide v Sodium Metaperiodate v Trimethyl Sulfoxoniumiodide v 3,
5-Di-Iodo Salicylic acid |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Organic and Inorganic Chemicals |
MT |
NA |
360.0000 |
241.2378 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
v
Deep Pharma-Chem Private Limited v
Union Enterprise v
Super Sulphates v
Apsara Packagings v
Arihant Chemicals v
Maitree Chemicals v
TNT Express v
Mehta Medicate Private Limited v
Prince Containers Private Limited v
Nisha Chemicals v
Krishna Solvechem Limited v
Reliance Energy v
Adarsh Printing Press v
Shroff Engineers v
Star Scientific Glass Company v
Vinay Traders |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
End Users v
Evialis India Limited v
Sun Pharmaceuticas Ind. Limited v
Century Enka Limited v
Kiran Light Laboratories v
SD Fine Chem Limited v
SRF Limited v
Sun Food Tech v
Cadila Healthcare Limited-AHM v
Thomas Baker Chemicals Private Limited v
Sam Fine Chem Limited v
Cipla Limited v
M.R. International v
Auctus Pharma Limited v
Micro Chemicals Company Private Limited v
Sushant Industries |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
55 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
v
Corporation Bank, SME Marol Branch, Bonanza,
Sahar Plaza Complex, Andheri-Kurla Road, J.B. Nagar, Andheri (East), Mumbai –
400 059, Maharashtra, India v
The Saraswat Co-operative Bank Limited, Raja
Shopping Center, New Nagardas Road, Andheri (East), Mumbai – 400 069,
Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Nalin S. Parekh and Company Chartered Accountants |
|
Address : |
302, Madhav Apartments, 3rd Floor, Jawahar Road, Ghatkopar
(East), Mumbai – 400 077, Maharashtra, India |
|
Tel. No.: |
91-22-25012552/ 25013488 |
|
E-Mail : |
|
|
Income-tax PAN
of auditor or auditor's firm : |
AABPP3409R |
|
|
|
|
Related Party : |
Sun Chemicals |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital : Rs. 15.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 11.313 Millions
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000
Millions |
|
|
|
|
|
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 |
11.313 |
11.314 |
5.500 |
|
(b) Reserves & Surplus |
54.607 |
43.792 |
22.215 |
|
(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) |
65.920 |
55.106 |
27.715 |
|
|
|
|
|
|
(3) Non-current
liabilities |
|
|
|
|
(a) Long-term borrowings |
73.478 |
52.474 |
78.864 |
|
(b) Deferred tax liabilities (Net) |
1.090 |
1.410 |
1.585 |
|
(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) |
74.568 |
53.884 |
80.449 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
132.373 |
110.351
|
54.668
|
|
(c) Other current
liabilities |
4.947 |
9.063
|
0.000
|
|
(d) Short-term
provisions |
0.627 |
0.000
|
2.541
|
|
Total Current
Liabilities (4) |
137.947 |
119.414 |
57.209 |
|
|
|
|
|
|
TOTAL |
278.435 |
228.404 |
165.373 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
39.289 |
42.241 |
44.517 |
|
(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 |
0.027 |
0.052 |
|
(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 |
39.289 |
42.268 |
44.569 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
65.420 |
26.698
|
45.390
|
|
(c) Trade receivables |
145.281 |
129.587
|
53.776
|
|
(d) Cash and cash
equivalents |
23.961 |
19.459
|
11.193
|
|
(e) Short-term loans
and advances |
0.000 |
9.308
|
9.510
|
|
(f) Other current
assets |
4.484 |
1.084
|
0.935
|
|
Total Current
Assets |
239.146 |
186.136 |
120.804 |
|
|
|
|
|
|
TOTAL |
278.435 |
228.404 |
165.373 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
700.589 |
581.398 |
295.467 |
|
|
|
Other Income |
1.837 |
1.475 |
2.121 |
|
|
|
TOTAL (A) |
702.426 |
582.873 |
297.588 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
||
|
|
|
Cost of Material Consumed |
576.973 |
414.321 |
268.045 |
|
|
|
Changes in inventories of finished goods,
work in progress and stock-in-trade |
(11.532) |
14.643 |
(24.483) |
|
|
|
Employee Benefits Expenses |
12.375 |
12.477 |
7.138 |
|
|
|
Other Expenses |
91.805 |
98.279 |
21.165 |
|
|
|
TOTAL (B) |
669.621 |
539.720 |
271.865 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
32.805 |
43.153 |
25.723 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.441 |
11.211 |
12.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.364 |
31.942 |
13.164 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.140 |
5.522 |
5.744 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
16.224 |
26.420 |
7.420 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.409 |
8.909 |
2.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.815 |
17.511 |
4.857 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
7.851 |
4.156 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.56 |
15.48 |
8.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.53 |
3.00 |
1.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.31 |
4.55 |
2.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.82 |
11.57 |
4.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.48 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.11 |
0.95 |
2.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.56 |
2.11 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
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 |
Yes |
|
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) |
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 |
OPERATIONS
The directors have pleasure in communicating to you that the company has
performed reasonably well during the financial year 2013-2014
It has earned a net profit of Rs. 16.224 millions (Rs. 26.420 millions)
for the year under consideration.
Note:
The registered office address of the company has shifted from Plot
No.1401, 3rd Phase, Near Gama Colony, GIDC, Vapi – 396 195, Gujarat
to the present address w.e.f. 29.04.2010.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10133784 |
11/03/2013 * |
297,193,000.00 |
CORPORATION BANK |
SME MAROL BRANCH,BONANZA,SAHAR PLAZA COMPLEX, AND |
B70715008 |
|
2 |
10102043 |
04/02/2008 * |
5,550,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069, INDIA |
A40829533 |
|
3 |
80017200 |
04/03/2008 * |
32,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069, INDIA |
A35410349 |
* Date of charge modification
FIXED ASSETS:
v Land
v Building
v Computer
v Office Equipment
v Plant and Machinery
v Electric Installation
v Vehicle
v Furniture and Fixtures
v Air Conditioners
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 records 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 : |
NAY |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.