MIRA
INFORM REPORT
|
Report Date : |
22.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANDOZ PRIVATE LIMITED [w.e.f. 23.04.2003] |
|
|
|
|
Formerly Known
As : |
SANDOZ PHARMA ( |
|
|
|
|
Registered
Office : |
Sandoz House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.03.1995 |
|
|
|
|
Com. Reg. No.: |
11-086989 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.32.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1995PTC086989 |
|
|
|
|
IEC No.: |
MUMN06026G |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AAACS9267J |
|
|
|
|
PAN No.: [Permanent Account No.] |
Private Limited
Liability Company |
|
|
|
|
Legal Form : |
Manufacturing and
trading of pharmaceuticals products and providing services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Novartis Holding
AG, It is a well established company having satisfactory track record.
Financially company appears to be good. Performance capability seems to be
high. The subject gets good support from its holding companies. The
promoters seem to be experienced businessman. Trade relations are reported to be fair. Business is active. Payment
are reported to be usually correct and as per commitments. The company can be considered for normal business dealings at usual
trade terms and condition. |
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
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the core
sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $
24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the spending
capacity in India. Over 72 % respondents from middle and lower middle income
families would be forced to slash their Diwali
expenditure by 40 % and on average spend nearly 25 % of their monthly salary on
Diwali, according to a survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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.
LOCATIONS
|
Registered Office : |
Sandoz House, |
|
Tel. No.: |
91-22-24939258 /
24981620 / 24982095 / 27639157 / 27639335 |
|
Fax No.: |
91-22-24981620 /
56512121 / 24982099 / 27639064 / 27639012 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Sandoz House, Shivsagar
Estate, A Block, 6th Floor, Mumbai – 400013, |
|
Tel. No.: |
91-22-24981623 |
|
|
|
|
Factory: |
MIDC, Plot No.
8-A/2, 8-B TTC Industrial Area, Kawle Block,
Village Dighe, Opposite Thane Belapur
Road, Navi Mumbai – 400 708, Maharashtra,
India |
|
Tel No.: |
91-22-24982091 |
|
Fax No. : |
91-22-24982099 |
|
|
|
|
Branch 1 : |
|
|
Tel. No.: |
91-22-25314080 |
|
Fax No.: |
91-22-25314111 |
|
|
|
|
Branch 2 : |
7th
Floor, Peninsula Towers, Corporate Park, Ganpatrao Kadam Marg, Off Senapati Bapat Marg, Lower Parel, Mumbai –
400013, Maharashtra, India |
|
Tel. No.: |
91-22-56512100 |
|
Fax No.: |
91-22-56512121 |
|
|
|
|
Production
Site : |
Plot No. D-31 and
Plot No. D-32, MIDC, TTC Industrial Area, Turbhe, Navi Mumbai – 400705, |
|
Tel No.: |
91-22-55910485 |
|
Fax No. : |
91-22-55910472 |
DIRECTORS
As on 09.08.2013
|
Name : |
Mr. Vivek Devaraj |
|
Designation : |
Managing director |
|
Address : |
3, 319 A, Vallalar Road, Uthandu Ecr, Chennai – 600119, Tamilnadu,
India |
|
Date of
Birth/Age : |
18.06.1968 |
|
Date of
Appointment : |
16.11.2012 |
|
Pan No.: |
AABPV9979Q |
|
Din No.: |
06390939 |
|
|
|
|
Name : |
Mr. Vijayanarayanan |
|
Designation : |
Additional
Director |
|
Address : |
702, Hercules, Lodha Paradise,Nr Majewada Flyover, Eastern Express Highway, Thane (West),
Thane – 400601, Maharashtra, India |
|
Date of
Birth/Age : |
23.04.1965 |
|
Date of
Appointment : |
29.08.2013 |
|
Din No.: |
06639177 |
|
|
|
|
Name : |
Mr. Jeffrey
Martin Rope |
|
Designation : |
Director |
|
Address : |
Zugerbergstrasse 37, Unterageri
6314, Switzerland |
|
Date of
Birth/Age : |
05.03.1962 |
|
Date of
Appointment : |
04.04.2013 |
|
Din No.: |
03641506 |
|
|
|
|
Name : |
Mr. Andreas Brutsche Michael |
|
Designation : |
Additional
Director |
|
Address : |
Im Schindwasen 5, Britzingen 79379 Mullheim |
|
Date of
Birth/Age : |
17.09.1962 |
|
Date of Appointment
: |
29.08.2013 |
|
Din No.: |
06659893 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Novartis Holding A G, Switzerland |
|
3199995 |
|
Novartis A G, Switzerland |
|
5 |
|
|
|
|
|
TOTAL
|
|
3200000 |
Equity Share Break up (Percentage of Total Equity)
As on 09.08.2013
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
trading of pharmaceuticals products and providing services. |
||||
|
|
|
||||
|
Products : |
·
Tablets ·
Bulk
Drugs ·
Nasal
Sprays |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
|
Bulk Drugs and Drug Intermediates |
Metric Tonnes |
472 |
|
Tablets |
Thousand Numbers |
3501032 |
|
Capsules |
Thousand Numbers |
798968 |
|
Vials |
Thousand Numbers |
11290 |
Information in respect of Licensed Capacity is not furnished in view of withdrawal of licensing requirements vide Gazette Notification No. S.O. 477(E) dated 25th July, 1991.
The installed capacities, being a technical matter, are as certified by the management and not verified by the auditors.
Installed Capacity of previous year excludes the production capacity for Tablets and Granules produced in Turbhe plant as production was discontinued and assets were held for sale. During the previous year, 2,659 Thousand Tablets and 8.3 Metric Tonnes of Granules were produced.
|
Particulars |
Unit |
Actual
Production |
|
Bulk Drugs and Drug Intermediates |
Metric Tonnes |
1290 |
|
Formulation: Tablets |
Thousand Numbers |
1171471 |
|
Capsules |
Thousand Numbers |
463525 |
|
Nasal Sprays |
Litres |
10210 |
|
Kit (Combi Pack of Capsules and Tablets) |
Thousand Numbers |
4025 |
|
Granules |
Kgs |
-- |
|
Injectables |
Thousand Vials/Ampoules |
2156 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Standard
Chartered Bank, 90, M G Road, Fort, Mumbai – 400001, Maharashtra,
India ·
BNP
Paribas, 62, Homji Street, Fort, Mumbai – 400001, Maharashtra, India ·
Union
Bank of India, Union Bank Bhavan, First Floor, 239,
Vidhan Bhavan Marg, Nariman Point, Mumbai –
400021, Maharashtra, India ·
Banque National De
Paris, French Bank Buld.; 62, Homji
Street; Fort, Mumbai - 400001, Maharashtra, India |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
|
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252,Veer Savarkar Marg, Shivaji Park, Dadar,
Mumbai-400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP5579P |
|
|
|
|
Holding Company: |
*Novartis Holding AG, Basel, Switzerland
(holds 3,199,995 equity shares i.e. 99.99% of the equity share capital of the
Company at the year end). Note: (*no
transactions during the year). |
|
|
|
|
Fellow subsidiaries: |
·
Chiron Behring Vaccines
Private Limited, India ·
CIN: U24230MH1997PTC111122 ·
PT Sandoz Indonesia ·
N.V. Sandoz S.A. ·
Salutas Pharma GmbH ·
Hexal AG ·
Sandoz U.S ·
JenaHexal Pharma Gmbh ·
Sandoz AG ·
Novartis Asia Pacific ·
Sandoz Do Brasil Industria ·
LEK Pharmaceuticals D D
·
Sandoz Canada Inc. ·
Novartis Pharma Services Inc. ·
Sandoz GmbH ·
Novartis Animal Health
Australasia Pty Limited, India ·
CIN: U15202MH1997PTC111257 ·
Sandoz S.P.A ·
Novartis Bangladesh
Limited ·
CIN: L24200MH1947PLC006104 ·
Sandoz Inc. ·
Novartis Biociencias S.A. ·
Sandoz International
GmbH ·
Novartis Consumer Health
·
S.A. Sandoz K K ·
Novartis Consumer
Health, Inc ·
Sandoz Philipines Corporation ·
Novartis Corporation
(Malaysia) ·
Sandoz A/S ·
Novartis Vaccines and
Diagnostics Limited ·
Sandoz Pty Ltd ·
Novartis France S.A. ·
Sandoz (SA) Pty Ltd ·
Novartis Thailand
Limited SC ·
Sandoz S.R.L. ·
Novartis Healthcare
Private Limited ·
Befico Limited ·
Novartis India Limited Lek S.A ·
Novartis International
AG ·
Sandoz Pharmaceuticals
AG ·
PT Novartis Indonesia Sandoz ·
Syntek Ilac Hammaddeleri San. ve Tic. AS ·
Novartis Pharma (Pakistan) Limited ·
Sandoz Iiac Sanayi Ve
Ticaret A.S. ·
Novartis Pharma AG ·
Novartis foundation for
sustainable development ·
Novartis Pharma S.A.E. |
|
|
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10 each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3200000 |
Equity Shares |
Rs.10 each |
Rs.32.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
32.000 |
32.000 |
32.000 |
|
(b) Reserves & Surplus |
2662.900 |
2253.600 |
1797.300 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2694.900 |
2285.600 |
1829.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
216.700 |
247.200 |
145.200 |
|
(c) Other long term liabilities |
20.700 |
15.500 |
25.700 |
|
(d) long-term provisions |
157.400 |
130.300 |
126.200 |
|
Total Non-current Liabilities (3) |
394.800 |
393.000 |
297.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6234.400 |
6871.200 |
7067.700 |
|
(b) Trade payables |
3068.200 |
3370.600 |
2872.300 |
|
(c) Other current
liabilities |
273.100 |
249.200 |
1005.900 |
|
(d) Short-term provisions |
108.800 |
68.700 |
66.000 |
|
Total Current Liabilities (4) |
9684.500 |
10559.700 |
11011.900 |
|
|
|
|
|
|
TOTAL |
12774.200 |
13238.300 |
13138.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4530.400 |
4762.800 |
5024.700 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
180.900 |
409.700 |
258.800 |
|
(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 |
519.700 |
519.100 |
439.300 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5231.000 |
5691.600 |
5722.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4619.200 |
4251.000 |
4776.100 |
|
(c) Trade receivables |
1656.400 |
1979.000 |
1423.000 |
|
(d) Cash and cash
equivalents |
46.000 |
7.800 |
45.900 |
|
(e) Short-term loans and
advances |
1172.100 |
1308.900 |
1165.000 |
|
(f) Other current assets |
49.500 |
0.000 |
5.500 |
|
Total Current Assets |
7543.200 |
7546.700 |
7415.500 |
|
|
|
|
|
|
TOTAL |
12774.200 |
13238.300 |
13138.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sale of Products [Net] |
13438.000 |
12046.000 |
9648.000 |
|
|
|
Sale of Service |
1090.000 |
1743.000 |
1592.000 |
|
|
|
Other Operating Revenue |
171.000 |
91.000 |
64.000 |
|
|
|
Other Income |
23.000 |
44.000 |
82.000 |
|
|
|
TOTAL |
14722.000 |
13924.000 |
11386.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
14105.000 |
13366.000 |
10912.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
617.000 |
558.000 |
474.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
208.000 |
102.000 |
148.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
409.000 |
456.000 |
326.000 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2155.000 |
1699.000 |
1373.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2565.000 |
2155.000 |
1699.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
2570.501 |
|
|
|
Packing Materials |
NA |
NA |
132.007 |
|
|
|
Finished Goods |
NA |
NA |
1.217 |
|
|
|
Capital Goods |
NA |
NA |
157.306 |
|
|
|
Spares and Consumables |
NA |
NA |
33.382 |
|
|
TOTAL IMPORTS |
NA |
NA |
2894.413 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
127.91 |
142.50 |
101.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.20
|
4.02 |
4.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.78
|
4.01 |
2.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
4.90
|
4.35 |
3.68 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.31
|
3.01 |
3.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78
|
0.71 |
0.67 |
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 |
No |
PERFORMANCE /
OPERATIONS
SALES
Sales grew by 11.79% (Rs. 1,424 Mio) primarily
due to increase in exports.
Export sales increased by Rs. 1,234 Mio mainly
arising out of products of Kalwe and Turbhe plants. Increase in export sales as compared to
earlier year amounts to 11.88%.
PROFIT
Profit increased during the year mainly on account of higher sales and
better profitability.
BACKGROUND
Subject was incorporated on March 30, 1995 as Sandoz
Pharma (India) Private Limited. The name of the
company was changed to Sandoz Private Limited on
April 23, 2003.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
Short-term
borrowings |
|
|
|
Term loans from banks |
1168.900 |
1796.400 |
|
Intercorporate deposits |
4598.000 |
4529.100 |
|
Total |
5766.900 |
6325.500 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90158196 |
28/03/2007 * |
1,080,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD,,
FORT,, MUMBAI, MAHARASHTRA - 40000 |
- |
|
2 |
90157117 |
19/03/1999 * |
100,000,000.00 |
UNION BANK OF INDIA |
INDU. FINANCE
BRANCH; UNION BANK BHAVAN, 1ST FLOO |
- |
Note: * Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
Claims against the Company not acknowledged
as debts |
|
|
|
(i) Income-tax
matters |
|
|
|
- Matters decided in favour
of the company but disputed further by the income-tax authorities |
0.000 |
187.400 |
|
- Matters decided against the company in
respect of which the company has preferred an appeal |
164.000 |
424.200 |
|
(ii)
Sales tax matters |
10.500 |
10.200 |
|
(iii)
Excise, Service Tax and Customs matters |
23.200 |
12.300 |
|
(iv) Others |
1.700 |
1.700 |
|
|
|
|
|
Guarantees given by banks to third parties
on behalf of the company |
66.700 |
79.300 |
|
Outstanding letters of credit issued by the
bank |
50.000 |
14.800 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
Intangible assets
· Brands and trade marks
· Trade marks
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.61.49 |
|
|
1 |
Rs.99.41 |
|
Euro |
1 |
Rs.84.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.