MIRA
INFORM REPORT
|
Report Date : |
18.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL POLYPLAST ( |
|
|
|
|
Registered
Office : |
‘Thiru Complex', II Floor, 44, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.04.1992 |
|
|
|
|
Com. Reg. No.: |
18-022490 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 112.634 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209TN1992PLC022490 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEN02027E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1743Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Plastic
Injection Moulded products for the beverage sector |
|
|
|
|
No. of Employees
: |
Not Available |
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 1033000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The ratings take into consideration on account the stretched liquidity
position of the company which has resulted in delays in debt servicing. However, profit and sales turnover of the company appears to be fair. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealings 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like
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 |
Term loans D |
|
Rating Explanation |
Lowest credit quality and very low prospects
of recovery. |
|
Date |
June 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits D |
|
Rating Explanation |
Lowest credit quality and very low prospect
of recovery. |
|
Date |
June 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 DENIED
MANAGEMENT – NON COOPERATIVE (91-44-28553456)
LOCATIONS
|
Registered Office : |
‘Thiru Complex', II Floor, 44, Pantheon Road, Egmore, Chennai –
600008, Tamilnadu, India |
|
Tel. No.: |
91-44-28553456 / 43404340 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located At: œ Chennai œ Sriperumbudur œ œ Roorkee œ Silvasa |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Bachhraj Parakh |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
44/1, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.05.1924 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.04.1992 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
01417295 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sudershan Parakh |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||||||
|
Address : |
44/1, Maharaja Surya Road, Alwarpet, Chennai – 600 018, Tamil Nadu,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.05.1955 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2009 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
01161124 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Alok Kumar Parakh |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||||||
|
Address : |
44/1, Maharaja Surya Road, Alwarpet, Chennai – 600 018, Tamil Nadu,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.08.1976 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2008 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
01417398 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Manju Kanwar Parakh |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
44/1, Maharaja Surya Road, Alwarpet, Chennai – 600 018, Tamil Nadu,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.11.1959 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.04.1992 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
01417349 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Bachhraj Parakh |
24157 |
|
Sudershan Parakh |
1051718 |
|
Manju Parakh |
12397 |
|
Sudhier K. Patel |
25 |
|
Bhawarlal Nahata |
25 |
|
Bachhraj Parakh (HUF) |
8575 |
|
Arihant Parakh |
14749 |
|
Alok Parakh |
7350 |
|
Sudershan Parakh (HUF) |
7350 |
|
|
|
|
Total |
1126346 |
As on: 28.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Plastic Injection
Moulded products for the beverage sector |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C.A Patel and Patel Chartered Accountants |
|
Address : |
442, Anna Salai, Parsn Maner, A Wing, 4th Floor , Flat No. 2, Chennai
– 600006, Tamil Nadu, India |
|
Tel. No.: |
91-44-52144887 / 52144188 |
|
Mobile No.: |
91-9840084595 |
|
PAN.: |
AAAFC0598B |
|
|
|
|
Associates : |
National Plastic Technologies Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1126346 |
Equity Shares |
Rs.100/- each |
Rs. 112.634 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 |
|
112.634 |
112.634 |
|
(b) Reserves & Surplus |
|
145.698 |
78.104 |
|
(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) |
|
258.332 |
190.738 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
491.909 |
379.823 |
|
(b) Deferred tax liabilities (Net) |
|
74.940 |
57.920 |
|
(c) Other long term liabilities |
|
52.121 |
11.525 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
618.970 |
449.268 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
159.729 |
114.501 |
|
(b) Trade payables |
|
42.204 |
24.180 |
|
(c) Other current
liabilities |
|
177.229 |
130.849 |
|
(d) Short-term provisions |
|
29.724 |
20.663 |
|
Total Current Liabilities (4) |
|
408.886 |
290.193 |
|
|
|
|
|
|
TOTAL |
|
1286.188 |
930.199 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
776.841 |
545.608 |
|
(ii) Intangible Assets |
|
3.656 |
3.755 |
|
(iii) Capital
work-in-progress |
|
6.495 |
3.004 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.00 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.695 |
0.650 |
|
Total Non-Current Assets |
|
787.687 |
553.017 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
8.240 |
8.240 |
|
(b) Inventories |
|
51.057 |
55.045 |
|
(c) Trade receivables |
|
185.990 |
148.659 |
|
(d) Cash and cash
equivalents |
|
76.849 |
57.473 |
|
(e) Short-term loans
and advances |
|
175.082 |
107.765 |
|
(f) Other current
assets |
|
1.283 |
0.000 |
|
Total Current Assets |
|
498.501 |
377.182 |
|
|
|
|
|
|
TOTAL |
|
1286.188 |
930.199 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
80.453 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
70.676 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
151.129 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
335.632 |
|
|
2] Unsecured Loans |
|
|
41.772 |
|
|
TOTAL BORROWING |
|
|
377.404 |
|
|
DEFERRED TAX LIABILITIES |
|
|
44.860 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
573.393 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
453.291 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
8.240 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
24.352 |
|
|
Sundry Debtors |
|
|
123.782 |
|
|
Cash & Bank Balances |
|
|
40.094 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
78.907 |
|
Total
Current Assets |
|
|
267.135 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
106.677 |
|
|
Other Current Liabilities |
|
|
31.747 |
|
|
Provisions |
|
|
16.849 |
|
Total
Current Liabilities |
|
|
155.273 |
|
|
Net Current Assets |
|
|
111.862 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
573.393 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
850.883 |
557.407 |
378.550 |
|
|
|
Other Income |
12.449 |
8.201 |
1.506 |
|
|
|
TOTAL |
863.332 |
565.608 |
380.056 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
410.010 |
218.295 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(20.977) |
(8.768) |
|
|
|
|
Employee benefit expense |
23.968 |
17.542 |
|
|
|
|
Other expenses |
214.283 |
169.897 |
|
|
|
|
TOTAL |
627.284 |
396.966 |
243.027 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
236.048 |
168.642 |
137.029 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
63.121 |
51.350 |
35.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
172.927 |
117.292 |
101.092 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
65.560 |
42.598 |
32.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
107.367 |
74.694 |
69.088 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.228 |
25.374 |
23.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
74.139 |
49.321 |
45.682 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
65.82 |
43.79 |
40.56 |
|
%20LIMITED%20-%20239408%2018-Oct-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.59
|
8.72 |
12.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.62
|
13.40 |
18.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.39
|
8.05 |
9.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.39 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.52
|
2.59 |
2.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.30 |
1.72 |
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 |
No |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation of
contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
-------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
Yes |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct of
the banking account |
---------------------- |
|
26] |
Buyer visit
details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Interoperate deposits |
7.500 |
27.513 |
|
Loans and advances from related parties |
25.155 |
1.812 |
|
Other loans and advances |
1.863 |
1.180 |
|
|
|
|
|
Total |
34.518 |
30.505 |
LITIGATION DETAILS:
CHENNAI
COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
||||||
|
Status Of: |
CIVIL SUITS |
||||||
|
Case No.: |
793 |
||||||
|
Year : |
2006 |
||||||
|
Petitioner : |
M/S.PRECISION ENGINEERING |
||||||
|
Respondent : |
M/S.NATIONAL POLYPLAST (INDIA) LIMITED |
||||||
|
Pet's Advocate : |
M/S RAMALINGAM AND ASSOCI |
||||||
|
Res's Advocate : |
M/S.P.B.RAMANUJAM |
||||||
|
Category : |
MONEY SUITS, SPECIFIC PERFORMANCE |
||||||
|
|
Last Listed on: No Date
Mentioned |
||||||
|
Case Updated on
: |
Jan 7 2011 |
||||||
|
Connected
Application(s)
|
|||||||
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10428440 |
04/04/2013 |
3,164,000.00 |
Karur Vysya Bank |
NO.44, THIRU COMPLEX, PANTHEON ROAD,
EGMORE, CHENNAI, Tamil Nadu - 600008, INDIA |
B75993261 |
|
2 |
10338289 |
09/05/2012 * |
79,687,500.00 |
Export Development Canada |
150, Slater Street, Ottawa, Ontario, -
K1A1K3, CANADA |
B40650913 |
|
3 |
10333888 |
27/09/2012 * |
98,000,000.00 |
IDBI Bank Ltd. |
115, Anna Salai, Saidapet, Chennai, Tamil
Nadu - 600015, INDIA |
B60435781 |
|
4 |
10298705 |
07/07/2011 |
105,750,000.00 |
Export Development Canada |
150, Slater Street, Ottawa, Ontario, -
K1A1K3, CANADA |
B17424144 |
|
5 |
10251925 |
16/08/2011 * |
125,287,054.00 |
Export Development Canada |
150, Slater Street,,Ottawa, Ontario, -
K1A1K3, |
B18904375 |
|
6 |
10150052 |
13/03/2009 |
91,400,000.00 |
Export Development Canada |
151, O'Connor Street, Ottawa,
Ontario,-K1A1K3, |
A58347220 |
|
7 |
10148610 |
13/05/2013 * |
342,500,000.00 |
IDBI Bank Ltd. |
115, Anna Salai, saidapet, chennai, Tamil
Nadu - 600015, INDIA |
B76171230 |
|
8 |
90288874 |
29/08/2013 * |
426,500,000.00 |
State Bank of India |
Leather & International Branch, 177/1,
Poonamalee High Road, Kilpauk,
Chennai, TamilNadu - 600010, INDIA |
B85550044 |
* Date of charge modification
FIXED ASSETS:
- Building
- Land
- Plant and Machinery
- Vehicles
- Furniture and Fittings
- Office Equipments
- Mould
- Electrical Fitting
- Computer
- Factory Equipments
- Lab 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 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.61.58 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--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.