MIRA
INFORM REPORT
|
Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAKHTESHIM-AGAN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DS-13, IKP Knowledge Park, Sy. No. 542/2, Genome Valley,
Turkapally, Shameerpet, Hyderabad – 500078, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.07.1998 |
|
|
|
|
Com. Reg. No.: |
01-072870 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.56.970 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110AP1998PTC072870 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM8797N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Agricultural Crop Protection Products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Makhteshim Agan Holding BV”. It is an
established company having moderate track. Our executives failed to trace the subject at the given address. The company has incurred a loss from its operations during 2012. External borrowing appears to be huge which may act as a threat to the
liquidity position. However, business is active. Payment terms are slow. The subject can be considered for business dealings on a safe and
secured 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.
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 DECLINED
UNABLE TO CONTACT
LOCATIONS
|
Registered Office : |
DS-13, IKP Knowledge Park, Sy. No. 542/2, Genome Valley, Turkapally,
Shameerpet, Hyderabad – 500078, Andhra Pradesh |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Josef Goldshmidt |
|
Designation : |
Managing Director |
|
Address : |
Halon 23, Moshav Gimzo – 73130 Israel |
|
Date of Birth/Age : |
03.12.1951 |
|
Qualification: |
MSC |
|
Date of Appointment : |
24.04.2009 |
|
DIN No.: |
01863187 |
|
|
|
|
Name : |
Mr. Narahari Pullaiah |
|
Designation : |
Director |
|
Address : |
29-1465/4/5, Kakatiya Nagar, Naredmet, Secunderabad, Hyderabad –
5000569, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.02.1967 |
|
Qualification: |
PHD - Plant pathology |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02683700 |
|
|
|
|
Name : |
Mr. Balavenkatarama Prasad Suryadevara |
|
Designation : |
Director |
|
Address : |
8-3-191/267/3 A/ 86B, Sarojini Vengalrao Nagar, Hyderabad – 500038,
Andhra Pradesh, India |
|
Date of Birth/Age : |
23.08.1960 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02699949 |
|
|
|
|
Name : |
Mr. Ran Maidan |
|
Designation : |
Director |
|
Address : |
Hasela 22C, Shoham, Israel, NA, Israel |
|
Date of Birth/Age : |
09.08.1970 |
|
Date of Appointment : |
16.09.2010 |
|
DIN No.: |
03113989 |
|
|
|
|
Name : |
Mr. Mordechai Mordechai |
|
Designation : |
Director |
|
Address : |
Wallenruistrasse 14, Stetten SH, Stetten, 8234, Switzerland |
|
Date of Birth/Age : |
18.05.1963 |
|
Date of Appointment : |
16.09.2010 |
|
DIN No.: |
03114993 |
|
|
|
|
Name : |
Lee fern poh |
|
Designation : |
Director |
|
Address : |
Apartment Block 5000M, Mari NE Parade, 24-55, Singapore - 449294 |
|
Date of Birth/Age : |
04.02.1967 |
|
Date of Appointment : |
16.09.2010 |
|
DIN No.: |
03116268 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Makhteshim Agan Holdings BV |
|
5697098 |
|
Makhteshim Agan Holland BV |
|
2 |
|
|
|
|
|
Total |
|
5697100 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
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 : |
Manufacturer and Supplier of Agricultural Crop Protection Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Axis Bank Limited, Credit Management Centre, 5-2-183/184, 8751(Old), III Road Floor, R P Road, Secunderabad, Hyderabad - 500003, Andhra Pradesh, India |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSRR and Company Chartered Accountants |
|
Address : |
Maruthi Info Tech Centre,11-12/1, Inner Ring Road, Koramangala, Bangalore – 560071, Karnataka, India |
|
PAN No.: |
AAIFB7355D |
|
|
|
|
Subsidiary Company
: |
P T Royal Agro |
|
|
|
|
Fellow
Subsidiary Company
: |
· Lycored Limited · Makhteshim Chemical Works Limited, Israel · Celcius Property B.V · Irvita Plant Protection · Agan Chemical Manufacturers Limited |
|
|
|
|
Ultimate Holding
Company : |
Makhteshim-Agan Industries Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5697100 |
Equity Shares |
Rs.10/- each |
Rs.56.970
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
56.970 |
56.970 |
|
(b) Reserves & Surplus |
|
8.110 |
106.030 |
|
(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) |
|
65.080 |
163.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2059.250 |
757.470 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
10.990 |
5.430 |
|
Total Non-current
Liabilities (3) |
|
2070.240 |
762.900 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2074.340 |
1605.000 |
|
(b) Trade payables |
|
1486.050 |
1354.650 |
|
(c) Other current liabilities |
|
308.200 |
240.040 |
|
(d) Short-term provisions |
|
484.530 |
621.690 |
|
Total Current
Liabilities (4) |
|
4353.120 |
3821.380 |
|
|
|
|
|
|
TOTAL |
|
6488.440 |
4747.280 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1095.780 |
319.210 |
|
(ii) Intangible Assets |
|
31.210 |
27.450 |
|
(iii) Capital work-in-progress |
|
191.760 |
198.220 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
11.160 |
11.160 |
|
(c) Deferred tax assets (net) |
|
51.420 |
7.740 |
|
(d) Long-term Loan and Advances |
|
155.770 |
189.830 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1537.100 |
753.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
2591.890 |
2027.180 |
|
(c) Trade receivables |
|
1934.090 |
1613.530 |
|
(d) Cash and cash equivalents |
|
287.600 |
291.000 |
|
(e) Short-term loans and advances |
|
134.970 |
61.960 |
|
(f) Other current assets |
|
2.790 |
0.000 |
|
Total Current
Assets |
|
4951.340 |
3993.670 |
|
|
|
|
|
|
TOTAL |
|
6488.440 |
4747.280 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
56.971 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
30.176 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
87.147 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
902.000 |
|
|
TOTAL BORROWING |
|
|
902.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
989.147 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
60.823 |
|
|
Capital work-in-progress |
|
|
12.115 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
(7.045) |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
823.171
|
|
|
Sundry Debtors |
|
|
622.154
|
|
|
Cash & Bank Balances |
|
|
375.417
|
|
|
Other Current Assets |
|
|
3.569
|
|
|
Loans & Advances |
|
|
44.249
|
|
Total
Current Assets |
|
|
1868.560
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
795.742
|
|
|
Other Current Liabilities |
|
|
144.355
|
|
|
Provisions |
|
|
5.209
|
|
Total
Current Liabilities |
|
|
945.306
|
|
|
Net Current Assets |
|
|
923.254
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
989.147 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
5293.520 |
4139.610 |
1687.652 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
5435.130 |
4025.490 |
1639.262 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(141.610) |
114.120 |
49.390 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(43.690) |
38.270 |
15.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(97.920) |
75.850 |
32.393 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
54.390 |
55.880 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(17.19) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(1.85) |
1.83 |
1.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.27) |
2.52 |
2.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.18) |
0.70 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
63.52 |
14.49 |
10.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.05 |
1.98 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
(Rs. In Millions) |
|||
|
Current maturities of long-term debt |
0.000 |
0.000 |
NA
|
|
|
|
|
|
|
|
|
Total |
0.000 |
0.000 |
NA
|
|
|
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 |
NOTE:
· No Charges Exist for Company
·
Registered office of the
company has been shifted from 5th Floor, A Block, Q
City, Nanakramguda, Gachibowli, Hyderabad - 500032, Andhra
Pradesh, India to the present address w.e.f
06.08.2012
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG-TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
1222.920 |
462.000 |
|
Deposits from others |
84.810 |
69.840 |
|
Other loans and advances |
751.520 |
225.630 |
|
|
|
|
|
Total |
2059.250 |
757.470 |
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Factory building
·
Factory building
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
Intangible assets
·
Computer software
·
Licenses
PRESS RELEASES
ISRAEL CROP PROTECTION FIRM GETS SHOW-CAUSE NOTICE OVER TRIALS DATA
MARCH 8, 2013
If Makhteshim Agan India fails to reply to the show-cause notice, its import approval could be revoked
The Union agriculture ministry has issued a show-cause
notice to Makhteshim Agan India, the Indian arm of Makhteshim Agan (MA), a
leading crop protection solutions company based in Israel, for
"variance" in data of field evaluation studies commissioned by it.
The studies were aimed at securing an approval to import a particular
herbicide.
If the company failed to reply to the notice, its import approval could be
revoked, the notice said.
The agriculture department has raised the matter with the Bidhan Chandra Krishi
Vishwavidyalaya (BCKV) in West Bengal, under whose guidance the studies were
conducted. Based on these, the company was granted registration to import
imazethapyr technical (a herbicide). The agriculture department has also urged
BKCV to take action against its principal investigator (responsible for
conducting the studies) on grounds of professional impropriety.
Yossi Goldschmidt, president and chief executive of Makhteshim Agan India, told
Business Standard the company had received a show-cause notice from the
agriculture ministry. The notice was being examined by the company's legal
team, he said, adding since June 2012, the company had sold about 5,00,000
litres of imazethapyr technical to thousands of farmers, and had received
positive feedback.
"MA India has received the registration according to law; the company
always follows all rules and regulation. There is no question of any
malpractice in granting a licence to MA India for registration of imazethapyr
technical. The entire issue has arisen due to confusion about the dates of
field trials," Goldschmidt said. He added before securing an approval by
the insecticide board, the company had provided relevant papers and the
authorities had carried out due diligence. "Makhteshim Agan does not
believe in breaking the norms in India or elsewhere," he said. The company
has an annual turnover of $3 billion and sales in more than 120 countries.
Officials said the notice had been issued after data provided by the company
showed discrepancies. It wasn't just a typographical error, as was being
claimed, they added.
Agriculture department officials said any company that planned to sell an
imported herbicide, pesticide or other plant chemicals had to secure a permit
to import a sample of the chemical. Once the permit is secured, companies
provide the sample to recognised institutions to conduct evaluation studies
through two seasons for the crop it is to be used for.
Once the studies provide sufficient data, the company has to approach the
Central Insecticide Board and Registration Committee to register the chemical.
In the case of Makhteshim Agan, the insecticide board found anomalies in the
date of sample import and the year of the field trials.
Also, there were allegations the company had sought to carry out evaluation
studies before it secured the permit. The board had appointed a two-member
committee to probe these allegations.
BKCV claimed there was a typographical error in the report. It added the
evaluation studies were carried out in 2009 and 2010, not in 2008 and 2009, as
was stated. After BCKV's explanations, imazethapyr technical was registered.
However, the agriculture department received various complaints, after which it
conducted an investigation that showed significant discrepancies in the BCKV
data. These related to the field studies conducted in 2008 and 2010.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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.67.03 |
|
|
1 |
Rs.104.32 |
|
Euro |
1 |
Rs.88.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
KVT/VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
17 |
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.