MIRA
INFORM REPORT
|
Report Date : |
04.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORCHEV PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal Road,
Rajkot – 360002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.06.1989 |
|
|
|
|
Com. Reg. No.: |
04-012430 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.990 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1989PTC012430 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO3086D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of bulk drugs. |
|
|
|
|
No. of Employees
: |
60 (Approximately) ( In Office 08+ In Factory: 52) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 470000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Financially, the company is strong but there appears a drastic dip in
its net profitability. However, trade relations are fair. Business is active. Payments are
recorded as usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash Credit : BBB- |
|
Rating Explanation |
Moderate credit quality and average credit risk. |
|
Date |
August 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Credit Exposure Limit: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
August 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 (GENERAL DETAILS)
|
Name : |
Mr. Naitik |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-281-2365731 |
|
Date : |
02.10.2013 |
LOCATIONS
|
Registered Office : |
Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal
Road, Rajkot – 360002, Gujarat, India |
|
Tel. No.: |
91-281-2365731/2365732 |
|
Fax No.: |
91-281-236533 |
|
E-Mail : |
|
|
Website: |
|
|
Location: |
Owned |
|
|
|
|
Factory: |
Shapar Industrial Area, Rajkot – Gondal Highway, Veraval, District –
Rajkot – 360024, Gujarat, India |
|
Tel. No.: |
91-2827-252114/252115 |
|
Fax No.: |
91-2827-252113 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Viren Vasantbhai Patel |
|
Designation : |
Director |
|
Address : |
Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital, Kalawad
Road, City Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
01.06.2006 |
|
DIN No.: |
00544034 |
|
|
|
|
Name : |
Mr. Chirag Vasantbhai Patel |
|
Designation : |
Director |
|
Address : |
B/9, Shree Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital,
Kalawad Road, City Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
01.08.2006 |
|
DIN No.: |
00544051 |
|
|
|
|
Name : |
Mr. Vasantlal Odhavjibhai Bhalodia |
|
Designation : |
Director |
|
Address : |
B/9, Shree Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital,
Kalawad Road, City Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
28.06.1989 |
|
DIN No.: |
00544069 |
|
|
|
|
Name : |
Mrs. Kanchanben Vasantlal Bhalodia |
|
Designation : |
Director |
|
Address : |
B/9, Shree Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital,
Kalawad Road, City Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
03.10.1992 |
|
DIN No.: |
00544082 |
KEY EXECUTIVES
|
Name : |
Mr. Naitik |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vasantlal Odhavjibhai Bhalodia |
|
995 |
|
Vasantlal Odhavjibhai Bhalodia as Karta of Vasantial O Bhalodia HUF |
|
1544 |
|
Kanchanben Vasantlal Bhalodia |
|
707 |
|
Anilbhai Sridhar Kane |
|
104 |
|
Kasturben Amrutlal Patel |
|
110 |
|
Prafulkumar Vinaychandra Kamdar |
|
110 |
|
Dineshkumar Harjivanbhai Patel |
|
100 |
|
Ciragbhai Vasantbhai Patel |
|
2568 |
|
Viren Vasantlal Patel |
|
3006 |
|
Dipti Chiragbhai Patel |
|
457 |
|
Bharatbhai T Kalawadia |
|
78 |
|
Nitinbhai T Kalawadia |
|
78 |
|
Ameeben Virenbhai Patel |
|
133 |
|
|
|
|
|
Total |
|
9990 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of bulk drugs. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Asian Countries ·
Latin America ·
Middle East ·
Brazil |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Ranitidine HCL |
M.T. |
1800.000 |
540.000 |
371.215 |
GENERAL INFORMATION
|
No. of Employees : |
60 (Approximately) ( In Office 08+ In Factory: 52) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
State Bank of India, Bhaktinagar Branch, Dhebar Raod, Rajkot – 360001,
Gujarat, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
H. Jamnadas and Company Chartered Accountants |
|
Address : |
217-219, Heera Panna Complex, Dr. Yagnik Raod, Rajkot – 360001,
Gujarat, India |
|
PAN No.: |
AABFH2320P |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.1000/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9990 |
Equity Shares |
Rs.1000/- each |
Rs.9.990
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 |
|
9.990 |
9.990 |
|
(b) Reserves & Surplus |
|
107.901 |
102.553 |
|
(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) |
|
117.891 |
112.543 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
12.113 |
14.356 |
|
(b) Deferred tax liabilities (Net) |
|
1.821 |
1.228 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
13.934 |
15.584 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
15.357 |
27.205 |
|
(b) Trade payables |
|
38.208 |
6.872 |
|
(c) Other current
liabilities |
|
0.914 |
2.584 |
|
(d) Short-term provisions |
|
6.979 |
13.262 |
|
Total Current Liabilities (4) |
|
61.458 |
49.923 |
|
|
|
|
|
|
TOTAL |
|
193.283 |
178.050 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
51.350 |
39.964 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
6.241 |
2.485 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.094 |
0.094 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
1.191 |
0.940 |
|
Total Non-Current Assets |
|
58.876 |
43.483 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
54.180 |
67.912 |
|
(c) Trade receivables |
|
40.620 |
37.953 |
|
(d) Cash and cash
equivalents |
|
4.339 |
2.727 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
35.268 |
25.975 |
|
Total Current Assets |
|
134.407 |
134.567 |
|
|
|
|
|
|
TOTAL |
|
193.283 |
178.050 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.990 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
94.557 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
104.547 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5.417 |
|
|
2] Unsecured Loans |
|
|
49.034 |
|
|
TOTAL BORROWING |
|
|
54.451 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.485 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
160.483 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
43.484 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.094 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
78.065 |
|
|
Sundry Debtors |
|
|
31.363 |
|
|
Cash & Bank Balances |
|
|
3.366 |
|
|
Other Current Assets |
|
|
1.245 |
|
|
Loans & Advances |
|
|
24.466 |
|
Total
Current Assets |
|
|
138.505 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
10.798 |
|
|
Other Current Liabilities |
|
|
4.363 |
|
|
Provisions |
|
|
6.439 |
|
Total
Current Liabilities |
|
|
21.600 |
|
|
Net Current Assets |
|
|
116.905 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
160.483 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
279.697 |
255.139 |
220.396 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
259.884 |
229.357 |
198.447 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.813 |
25.782 |
21.949 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.022 |
4.645 |
4.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.791 |
21.137 |
17.237 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.499 |
5.701 |
5.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.292 |
15.436 |
11.393 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.202 |
5.118 |
4.066 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.090 |
10.318 |
7.327 |
|
|
|
|
|
|
|
|
|
|
PRIOR YEAR
TAXATION |
0.000 |
0.000 |
(0.012) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
83.052 |
75.606 |
71.171 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1.499 |
1.998 |
1.998 |
|
|
|
Corporate Dividend Tax |
0.243 |
0.324 |
0.332 |
|
|
|
General Reserve |
0.550 |
0.550 |
0.550 |
|
|
BALANCE CARRIED
TO THE B/S |
87.850 |
83.052 |
75.606 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales USD $ |
2693677 |
2692553.52 |
27.594 |
|
|
|
Export Sales Euro |
113816 |
819156.01 |
4.145 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
709.71 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.53
|
4.04 |
3.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.51
|
8.80 |
6.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.14 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.23
|
0.14 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.94
|
5.96 |
6.27 |
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 |
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) |
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 |
No |
|
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 |
OPERATION AND PROSPECTS:
During the current year of
operations, the Company has achieved Revenue from Operation and Other Income of
Rs. 279.697 Millions as against Rs.255.139 Millions during the previous year.
The production of Ranitidine for the year ended 31st March, 2012 as 304.131
M.T. The Company has earned a Profit of Rs. 198.13 Lac before depreciation and
interest and a Profit of Rs. 10.292 Millions after providing for depreciation
and interest. The Directors are trying their level best to improve the
performance of the Company in terms of Turnover and Profitability. The
prospects of the Company’s business are bright and positive.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long Term Borrowings |
|
|
|
From Directors |
10.597 |
11.640 |
|
From Shareholders and Directors' Relatives |
1.516 |
2.716 |
|
Total |
12.113 |
14.356 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10258643 |
01/05/2013 * |
66,500,000.00 |
STATE BANK OF INDIA |
BHAKTINAGAR BRANCH,
DHEBAR ROAD, RAJKOT, GUJARAT - 360001, INDIA |
B74739806 |
Note: * Date of charge modification
FIXED ASSETS
TENGIBLE ASSETS
Direct Assets
·
Land
·
Factory Building
·
Factory Furniture
·
Factory Air Conditioner
·
Road and Site Development
·
Plant and Machinery
·
Electrification
·
Laboratory Equipment
·
Microbiology laboratory
·
Material Handling Lift
·
Storage Tanks ‐ Chemicals
·
Weighing Scale
·
Sulphuric Acid Tank
Indirect Assets
·
Other Building
·
Office Equipment
·
Office Attendance Machine
·
Office Air Conditioners
·
Office Furniture
·
Motor Car
·
Innova Car
·
Car ‐ Hyundai i10
·
Car ‐ Honda Civic
·
Two Wheelers
·
Other Misc. Assets
·
Canteen Utensils
·
Refrigerator
·
Television Set
·
Computer
·
Tractor
·
Ups and Battery
·
Mobile Phone
·
Telephone Instruments
·
Water Storage Tank
·
Water Cooler
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.61.93 |
|
|
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.84.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
49 |
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.