|
Report Date : |
21.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHEMETALL-RAI INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
PYRENE-RAI METAL TREATMENTS LIMITED |
|
|
|
|
Registered Office
: |
Gat No.569, Pune Nagar Road, Village Karegaon Bhima,
Taluka- Shirur, Pune – 412207, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.10.1964 |
|
|
|
|
Com. Reg. No.: |
11-131374 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.350 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920PN1964PLC131374 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC11488B PNEC07837E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP2287P |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Metal Furnishing Chemicals and Equipments. |
|
|
|
|
No. of Employees
: |
Information denied
by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Company has successfully wiped out its accumulated losses. Rating also takes into consideration modest scale of operations and
higher sensitivity of profit margin due to raw material price fluctuations. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow. 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
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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating = A |
|
Rating Explanation |
Adequate credit quality and average credit
risk |
|
Date |
31.07.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
31.07.2012 |
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 (Tel No.: 91-2137-618000)
LOCATIONS
|
Registered /
Head Quarter / Factory / Corporate Office: |
Gate No. 569, Pune Nagar Road, Village Karegaon Bhima, Taluka Shirur,
Pune-412207, Maharashtra, India |
|
Tel. No.: |
91-2137-666751/54/616000/616200/618000 |
|
Fax No.: |
91-2137-253128 |
|
E-Mail : |
k.narayanswamy@chemetail-rai.co.in
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Regional Office : |
Located At:
|
|
|
|
|
Branch Office : |
Located At:
|
|
|
|
|
Factory: |
Located At:
|
DIRECTORS
As on 06.06.2013
|
Name : |
Mr. Asis Ray |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
A1/602, Landmark Gardens, 78 Kalyani, Pune – 411006, Maharashtra,
India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.12.1952 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2013 |
|||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACHPR3728B |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01420166 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Joris Merckx |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Kerkstraat 18, 3391, Meensel-Kiezegem, Kiezegem-063005, Belgium |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.07.1964 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.12.2008 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02512484 |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Michael John Watson |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat 41A, Branksome 3A, Trgunter Path Mid Levels, Hong Kong |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.01.1957 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.12.2005 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02239076 |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Manu Tandon |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Alternate Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
16, Solitaire, 4 Samadhi road, Pune Road, Pune- 400 066, Maharashtra, India
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.07.1943 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.03.2013 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00087615 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS
As on 06.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ram Nath, Indira Nath and Rabindra Nath |
|
29398 |
|
Indira Nath, Ram Nath and Gitanjali Kapur |
|
29401 |
|
Gitanjali Kapur |
|
34049 |
|
Rabindra Nath |
|
36700 |
|
Rabindra Nath and Indira Nath |
|
17452 |
|
Shailendrajit Rai and Pamela Rai |
|
60060 |
|
Usha Rai and Meenal Gidwani |
|
4977 |
|
Shailendrajit Rai and Usha Rai |
|
24000 |
|
Usha Rai and Shailendrajit Rai |
|
1500 |
|
Usha Rai and Shailendrajit Rai |
|
995 |
|
Shailendrajit Rai |
|
42989 |
|
Vinita Chandra |
|
42990 |
|
Meenal Gidwani |
|
42989 |
|
Chemetall India Company Limited, Bluchley, MKI, IPB |
|
294000 |
|
Chemetall |
|
73500 |
|
TOTAL
|
|
735000 |
Equity Share Break up (Percentage of Total Equity)
As on 06.06.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Metal Furnishing Chemicals and Equipments. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706, B-Wing, |
|
Tel. No.: |
91-20-66244600 |
|
Mobile No.: |
91-20-66244605 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Enterprises which
are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
CIN No.: L34300PN2009PLC133702
CIN No.: L99999PN1990PLC059487
CIN No.: U72200MH2000PLC128571
CIN No.: U27100MH1985PLC038111 |
CAPITAL STRUCTURE
As on 06.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
735000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.350 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 |
7.350 |
7.350 |
7.350 |
|
(b) Reserves & Surplus |
563.957 |
510.087 |
413.103 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.00 |
|
Total Shareholders’
Funds (1) + (2) |
571.307 |
517.437 |
420.453 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.284 |
0.845 |
2.350 |
|
(b) Deferred tax liabilities (Net) |
2.790 |
6.800 |
7.300 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.300 |
|
(d) long-term
provisions |
19.621 |
15.223 |
14.657 |
|
Total Non-current
Liabilities (3) |
22.695 |
22.868 |
24.607 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
2.721 |
|
(b) Trade
payables |
138.154 |
132.798 |
124.243 |
|
(c) Other
current liabilities |
17.235 |
17.426 |
30.320 |
|
(d) Short-term
provisions |
103.146 |
70.641 |
55.811 |
|
Total Current
Liabilities (4) |
258.535 |
220.865 |
213.095 |
|
|
|
|
|
|
TOTAL |
852.537 |
761.170 |
658.155 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
245.994 |
203.783 |
138.532 |
|
(ii)
Intangible Assets |
20.000 |
44.753 |
39.097 |
|
(iii)
Capital work-in-progress |
2.806 |
25.784 |
39.834 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.777 |
11.933 |
19.603 |
|
(e) Other
Non-current assets |
0.232 |
0.232 |
0.232 |
|
Total Non-Current
Assets |
281.809 |
286.485 |
237.298 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
91.365 |
99.681 |
85.960 |
|
(c) Trade
receivables |
286.599 |
264.994 |
223.893 |
|
(d) Cash
and cash equivalents |
177.842 |
90.459 |
98.480 |
|
(e)
Short-term loans and advances |
14.296 |
19.487 |
12.225 |
|
(f) Other
current assets |
0.626 |
0.064 |
0.299 |
|
Total
Current Assets |
570.728 |
474.685 |
420.857 |
|
|
|
|
|
|
TOTAL |
852.537 |
761.170 |
65
8.155 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1270.392 |
1166.224 |
1036.364 |
|
|
|
Other Income |
9.604 |
7.994 |
5.749 |
|
|
|
TOTAL |
1279.996 |
1174.218 |
1042.113 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
721.203 |
661.514 |
540.783 |
|
|
|
Purchases of stock-in-trade |
6.690 |
4.049 |
3.390 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(1.671) |
(3.843) |
(1.973) |
|
|
|
Employee benefit expenses |
127.442 |
120.658 |
110.835 |
|
|
|
Other expenses |
160.187 |
167.392 |
145.785 |
|
|
|
TOTAL |
1013.851 |
949.770 |
798.820 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
266.145 |
224.448 |
243.293 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.495 |
3.038 |
1.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
265.650 |
221.410 |
241.799 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
42.318 |
34.975 |
32.889 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
0.000 |
66.865 |
1.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
223.332 |
253.300 |
210.780 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
71.690 |
89.814 |
68.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX ( |
151.642 |
163.486 |
142.208 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
226.188 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
NA |
41.969 |
|
|
|
Tax on Dividend |
NA |
NA |
6.808 |
|
|
|
Transfer to General Reserve |
NA |
NA |
14.220 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
305.398 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
28.837 |
20.629 |
20.200 |
|
|
|
Freight and Insurance on above |
0.000 |
0.000 |
1.474 |
|
|
|
Commission Earnings |
0.000 |
0.000 |
3.637 |
|
|
|
Other Earnings |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
28.837 |
20.629 |
25.311 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
80.437 |
138.093 |
114.610 |
|
|
|
Components and spare parts |
4.904 |
4.058 |
2.543 |
|
|
|
Capital Goods |
0.000 |
0.907 |
3.073 |
|
|
TOTAL IMPORTS |
85.341 |
143.058 |
120.226 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
206.32 |
222.43 |
193.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.84 |
13.92 |
13.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.57 |
21.72 |
20.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
38.25 |
52.03 |
46.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.49 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
2.15 |
2.02 |
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 |
---------- |
|
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 |
COMPANY OPERATIONS:
The year under report (31.03.13) has resulted in a net profit of Rs.
151.642 Millions after providing Rs. 42.318 Millions for Depreciation and Rs.
75.700 Millions for Taxation. This amount together with the Profit of Rs.
386.033 Millions brought forward from earlier years, aggregating to Rs.537.676
Millions is available for appropriation.
The Company’s income grew by 10.7% over the previous year. Profit before
Tax has, come down by 11.8% over the previous year due to exceptional items
present in the previous year. (Current year Exceptional items are Nil when
compared to Previous year Rs.66.8 Millions). The Operational PBT has gone up by
19.79% compared to the previous year due to better mix of sale and higher
realizations.
The outlook for the coming year is positive.
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10222859 |
23/09/2009 |
482,143.00 |
CANARA BANK |
Fort (Main) Branch, Warden
House, Sir P. M. Road, Mumbai, Maharashtra - 400001, INDIA |
A75118513 |
|
2 |
10222858 |
23/09/2009 |
862,372.00 |
CANARA BANK |
Fort (Main) Branch, Warden
House, Sir P. M. Road, Mumbai, Maharashtra - 400001, INDIA |
A75118208 |
|
3 |
10222875 |
31/08/2009 |
1,164,452.00 |
CANARA BANK |
Fort (Main) Branch, Warden
House, Sir P. M. Road, Mumbai, Maharashtra - 400001, INDIA |
A76833128 |
|
4 |
10099255 |
14/01/2009 * |
16,000,000.00 |
CITIBANK N. A. |
2413, PARMAR HOUSE, EAST
STREET, PUNE, Maharashtra - 411001, INDIA |
A56227382 |
|
5 |
90241302 |
24/02/2009 * |
17,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT
MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A59505966 |
* Date of modification charge
FIXED ASSETS:
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. 61.28 |
|
|
1 |
Rs. 99.03 |
|
Euro |
1 |
Rs. 83.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.