MIRA INFORM REPORT
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Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
AGIO PHARMACEUTICALS LIMITED |
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Registered
Office : |
A-38, Nandjyot Industrial Estate, Kurla Andheri Road, Safed Pool,
Mumbai - 400072, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
24.01.1992 |
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Com. Reg. No.: |
11-065031 |
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Capital
Investment / Paid-up Capital : |
Rs. 51.848
Millions |
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CIN No.: [Company Identification
No.] |
U24239MH1992PLC065031 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20995C |
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PAN No.: [Permanent Account No.] |
AABCA8426A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Prescription Drugs. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1669700 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record.
Management of the company has filed its financials for the year 2013 but it is
not available with us. However, as per previous year financials (2012), the
profitability of the company appears to be low. Trade relations are reported
as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
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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
Date: 15.03.2013
Note: CRISIL has suspended rating due to non-cooperation by the company.
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 (GENERAL DETAILS)
|
Name : |
Mr. Sunil Rane |
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Designation : |
Accounts Executive |
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Contact No.: |
91-22-42319000 |
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Date : |
15.11.2013 |
LOCATIONS
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Registered Office/
Marketing and Administrative Office : |
A-38, Nandjyot Industrial Estate, Kurla Andheri Road, Safed Pool,
Mumbai - 400072, Maharashtra, India |
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Tel. No.: |
91-22-28518206 / 42319000 |
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Fax No.: |
91-22-28518204 |
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E-Mail : |
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Website : |
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Corporate Office : |
Mittal Towers, C - Wing 113, 11th Floor, Nariman Point, Mumbai - 400 021, Maharshtra, India |
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Tel. No.: |
91-22-2282 6885 / 91-22-42320000 |
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Fax No.: |
91-22-22826885 |
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E-Mail : |
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Manufacturing Unit: |
M.I.D.C, Bhosari, Pune – 411026, Maharashtra, India |
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Tel. No.: |
91-20-40730000 / 3068 3366 / 3068 3367 |
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Fax No.: |
91-20-4073 0002 |
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E-Mail : |
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Overseas Office
: |
Located at:
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DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Madhusudan Ruia |
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Designation : |
Managing director |
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Address : |
10th Floor, Shivam Apartment, Near Babulnath Temple, Grant Road
(West), Mumbai – 400007, Maharashtra, India |
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Date of Birth/Age : |
19.08.1957 |
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Qualification : |
B. Com |
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Date of Appointment : |
24.01.1992 |
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PAN No.: |
AAAPR6008D |
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DIN No.: |
00018971 |
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Name : |
Mr. Pankaj Nandkishor Chandak |
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Designation : |
Whole-time director |
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Address : |
502, A Wing, The Crest, Rahatani Road, Pune – 411027, Maharashtra, India
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Date of Birth/Age : |
08.10.1980 |
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Qualification : |
B. Com |
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Date of Appointment : |
01.04.2011 |
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PAN No.: |
AGFPC5280M |
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DIN No.: |
03015380 |
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Name : |
Mr. Rane Rajaram Sunil |
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Designation : |
Whole-time director |
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Address : |
604/A Wing, Vaishali Nagar, Sai Sugandh Co Operative Housing Society, Mumbai – 400068, Maharashtra, India |
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Date of Birth/Age : |
18.12.1955 |
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Date of Appointment : |
15.04.2013 |
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DIN No.: |
03409424 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Rane |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
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No. of Shares |
|
Madhusudan Ruia |
|
1360035 |
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Sanjay Ruia |
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25 |
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Sita Ruia |
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1126265 |
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Sangeeta Sanjay Ruia |
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250000 |
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Madhusudan G. Ruia (HUF) |
|
545093 |
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Sanjay G. Ruia (HUF) |
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102890 |
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Ritika .M. Ruia |
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71087 |
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Shree Madhur Realtors, India |
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1125000 |
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Emfor International, UAE |
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516865 |
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Rishabh M. Ruia |
|
71038 |
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Govindprasad Ruia (HUF) |
|
16468 |
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Total |
|
5184766 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
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Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
16.78 |
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Bodies corporate |
21.70 |
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Directors or relatives of Directors |
61.52 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Prescription Drugs. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Russia |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China |
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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
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Customers : |
End Users |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
Tel. No: 91-20-24409100
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Facilities : |
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Banking Relations : |
-- |
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Auditors : |
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Name : |
Banka and Banka Chartered Accountants |
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Address : |
3rd Floor, Shah Trade Center, Rani Sati Marg, Off Western
Express Highway, Malad (East), Mumbai – 400097, Maharashtra, India |
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Tel. No.: |
91-22-40984545 |
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Fax No.: |
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E-Mail : |
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PAN No.: |
AAAFB1145R |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
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Related Companies: |
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CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs.60.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5,184,766 |
Equity Shares |
Rs. 10/- each |
Rs.51.848
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
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I.
EQUITY
AND LIABILITIES |
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|
(1)Shareholders' Funds |
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(a) Share Capital |
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51.848 |
50.083 |
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(b) Reserves & Surplus |
|
365.593 |
322.531 |
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(c) Money
received against share warrants |
|
0.000 |
0.000 |
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(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
417.441 |
372.614 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
|
445.596 |
378.804 |
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(b) Deferred tax liabilities (Net) |
|
15.770 |
9.664 |
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(c) Other long term
liabilities |
|
0.000 |
0.000 |
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(d) long-term
provisions |
|
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
|
461.366 |
388.468 |
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(4) Current Liabilities |
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(a) Short term
borrowings |
|
425.049 |
402.676 |
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(b) Trade payables |
|
376.449 |
290.910 |
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(c) Other current
liabilities |
|
41.019 |
24.178 |
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(d) Short-term
provisions |
|
8.465 |
8.356 |
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Total Current
Liabilities (4) |
|
850.982 |
726.120 |
|
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TOTAL |
|
1729.789 |
1487.202 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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|
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(i) Tangible assets |
|
330.873 |
348.334 |
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(ii) Intangible Assets |
|
62.550 |
15.233 |
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(iii) Capital
work-in-progress |
|
2.966 |
3.103 |
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(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
|
0.621 |
0.611 |
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(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
|
40.014 |
52.636 |
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(e) Other
Non-current assets |
|
23.676 |
20.460 |
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Total Non-Current
Assets |
|
460.700 |
440.377 |
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(2) Current assets |
|
|
|
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(a) Current investments |
|
0.000 |
0.000 |
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(b) Inventories |
|
246.003 |
290.559 |
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(c) Trade receivables |
|
812.512 |
557.026 |
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(d) Cash and cash
equivalents |
|
10.930 |
9.680 |
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(e) Short-term loans
and advances |
|
199.457 |
189.457 |
|
(f) Other current
assets |
|
0.187 |
0.103 |
|
Total Current Assets |
|
1269.089 |
1046.825 |
|
|
|
|
|
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TOTAL |
|
1729.789 |
1487.202 |
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SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
50.083 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
309.061 |
|
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4] (Accumulated Losses) |
|
|
0.000 |
|
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NETWORTH |
|
|
359.144 |
|
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
392.246 |
|
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2] Unsecured Loans |
|
|
152.971 |
|
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TOTAL BORROWING |
|
|
545.217 |
|
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DEFERRED TAX LIABILITIES |
|
|
11.167 |
|
|
|
|
|
|
|
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TOTAL |
|
|
915.528 |
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
390.544 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.510 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
240.964 |
|
|
Sundry Debtors |
|
|
415.301 |
|
|
Cash & Bank Balances |
|
|
12.197 |
|
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Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
155.320 |
|
Total
Current Assets |
|
|
823.782 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
219.409 |
|
|
Other Current Liabilities |
|
|
75.884 |
|
|
Provisions |
|
|
4.309 |
|
Total
Current Liabilities |
|
|
299.602 |
|
|
Net Current Assets |
|
|
524.180 |
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
|
|
0.294 |
|
|
|
|
|
|
|
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TOTAL |
|
|
915.528 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SALES |
|
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|
|
|
|
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Revenue from operations |
1912.425 |
1389.189 |
981.413 |
|
|
|
Other Income |
0.000 |
0.000 |
3.446 |
|
|
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TOTAL (A) |
1912.425 |
1389.189 |
984.859 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1343.334 |
918.105 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
24.599 |
(34.019) |
|
|
|
|
Employee benefit expense |
127.609 |
147.557 |
|
|
|
|
Other expenses |
217.325 |
208.846 |
|
|
|
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Exceptional items |
0.851 |
0.262 |
|
|
|
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TOTAL (B) |
1713.718 |
1240.751 |
837.888 |
|
|
|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
198.707 |
148.438 |
146.971 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
101.600 |
71.597 |
73.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
97.107 |
76.841 |
73.309 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
60.111 |
54.822 |
53.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
36.996 |
22.019 |
20.259 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.567 |
7.965 |
7.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
30.429 |
14.054 |
12.773 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
187.232 |
173.762 |
161.575 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.518 |
0.501 |
0.501 |
|
|
|
Corporate Dividend Tax thereon |
0.084 |
0.083 |
0.085 |
|
|
BALANCE CARRIED
TO THE B/S |
217.059 |
187.232 |
173.762 |
|
|
|
|
|
|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
836.274 |
528.357 |
432.935 |
|
|
|
|
|
|
|
|
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VALUE OF IMPORT ON
CIF BASIS |
202.814 |
43.096 |
25.983 |
|
|
|
|
|
|
|
|
|
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Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
5.87 |
2.81 |
2.39 |
|
|
|
Diluted
|
6.03 |
2.81 |
2.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.59
|
1.01 |
1.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.93
|
1.59 |
2.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.14
|
1.48 |
1.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.06 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.09
|
2.10 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49
|
1.44 |
2.75 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT: 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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
76.554 |
72.217 |
|
Deposits from shareholders |
107.089 |
83.998 |
|
Loans and advances from related parties |
69.720 |
0.000 |
|
Other loans and advances |
87.980 |
71.655 |
|
Total |
341.343 |
227.870 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10438388 |
13/07/2013 |
10,000,000.00 |
The Cosmos Co-operative Bank Limited |
269/270, Cosmos Heights, Shaniwar Peth, Pune, Maharashtra - 411030, INDIA |
B80251218 |
|
2 |
10335995 |
21/12/2011 |
14,200,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI, Maharashtra - 400023, INDIA |
B32299042 |
|
3 |
10286381 |
22/03/2013 * |
302,000,000.00 |
The Cosmos Co-operative Bank Limited |
269/270, Cosmos Heights, Shaniwar Peth, Pune, Maharashtra - 411030, INDIA |
B74986068 |
|
4 |
10235351 |
21/12/2011 * |
349,800,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC |
B31717770 |
|
5 |
10131983 |
25/07/2012 * |
80,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC |
B44871762 |
|
6 |
10131982 |
10/10/2008 |
77,500,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC |
A51420784 |
|
7 |
10053077 |
25/07/2012 * |
80,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC |
B44871911 |
|
8 |
10053071 |
25/07/2012 * |
130,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC |
B44871382 |
|
9 |
10053030 |
25/07/2012 * |
185,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC |
B44872091 |
|
10 |
10053029 |
10/04/2007 |
110,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC |
A15580475 |
* Date of charge modification
FIXED ASSETS:
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Other equipments
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] 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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
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 |
|
29 |
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.