|
Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
GODREJ TYSON FOODS LIMITED (w.e.f. 14.10.2008) |
|
|
|
|
Formerly Known
As : |
GODREJ FOODS LIMITED |
|
|
|
|
Registered
Office : |
Pirojshanagar, Eastern |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-177741 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.989
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15122MH2008PLC177741 |
|
|
|
|
IEC No.: |
0308025342 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG13319F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCG1614N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing and distribution of Processed Chicken and Value Added Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a joint venture between “Godrej Holdings Limited”. It is an
established company having moderate track record. The company has incurred a loss from its operations during 2013.
However, financial and liquidity position appears to be sound and strong. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of strong holdings, the company can be considered normal for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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 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.
LOCATIONS
|
Registered Office : |
Pirojshanagar, Eastern Express Highway, Vikhroli, Mumbai – 400 079,
Maharashtra, India |
|
Tel. No.: |
91-22-25194416 / 25188010 / 25188020 / 25188030 |
|
Fax No.: |
91-22-25188485 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
DIRECTORS
As on: 13.06.2013
|
Name : |
Mr. Nadir Burjorji Godrej |
|
Designation : |
Chairman |
|
Address : |
40-D, B G Kher Marg, Malabar Hill, Mumbai – 400 006, |
|
Date of Birth/Age : |
26.08.1951 |
|
Qualification : |
BSC – Chemical Eng (MIT |
|
Date of Appointment : |
24.06.2008 |
|
Voter ID No.: |
MT/04/024/099721 |
|
DIN No.: |
00066195 |
|
|
|
|
Name : |
Mr. Balaram Singh Yadav |
|
Designation : |
Managing Director |
|
Address : |
Bunglow No. G-9/1, Godrej Hillside Colony, L B S Marg, Vikhroli
(West), Mumbai – 400 006, |
|
Date of Birth/Age : |
15.07.1964 |
|
Qualification : |
BSC (Hon) Agri-Science, PGDM (A) IIM-Ahmedabad |
|
Date of Appointment : |
11.01.2008 |
|
Voter ID No.: |
UUP1213859 |
|
DIN No.: |
00294803 |
|
|
|
|
Name : |
Mr. Rick Allen Thomason |
|
Designation : |
Additional Director |
|
Address : |
4052 Pasofino Loop, |
|
Date of Birth/Age : |
17.03.1963 |
|
Date of Appointment : |
06.09.2010 |
|
DIN No.: |
03157764 |
|
|
|
|
Name : |
Mr. James Victor Lochner |
|
Designation : |
Director |
|
Address : |
4921, Clear Creek, Blvd Fayettville, Arkansas – 72704 |
|
Date of Birth/Age : |
11.08.1952 |
|
Date of Appointment : |
16.03.2013 |
|
DIN No.: |
06514164 |
|
|
|
|
Name : |
Mr. James Stanley Young |
|
Designation : |
Director |
|
Address : |
6311, Wells Circle, Springdale, Arkansas – 72762 |
|
Date of Birth/Age : |
08.08.1966 |
|
Date of Appointment : |
16.03.2013 |
|
DIN No.: |
06514170 |
KEY EXECUTIVES
|
Name : |
Mr. Upendra Ramniranjan Pathak |
|
Designation : |
Secretary |
|
Address : |
4792, N, Maple Grove Drive, Springdals, Arkansas – 72764 |
|
Date of Birth/Age : |
11.12.1967 |
|
Date of Appointment : |
13.01.2012 |
|
Voter ID No.: |
MP07/049/09676/83 |
|
PAN No.: |
ADKPP9644A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 13.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Godrej Agrovet Limited, |
|
97455 |
|
Godrej Agrovet Limited joint with Balram Singh Yadav |
|
1 |
|
Godrej Agrovet Limited joint with Subramanian Varadaraj |
|
1 |
|
Godrej Agrovet Limited joint with Pitambar Narayan Narkhede |
|
1 |
|
Godrej Agrovet Limited joint with Govindan Ramakrishna
Rishinaradamangalam |
|
1 |
|
Godrej Agrovet Limited joint with Yashasvi Harshvadan Mehta |
|
1 |
|
Godrej Agrovet Limited joint with Prafulla Bhat |
|
1 |
|
Tyson India Holdings Limited, |
|
101439 |
|
|
|
|
|
Total |
|
198900 |
Equity Share Break up (Percentage of Total Equity)
As on: 13.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Bodies corporate |
|
49.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and distribution of Processed Chicken and Value Added Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
3i Infotech Trusteeship Services Limited 6th Floor, Akruti Center Point, MIDC Central Road, Next to Marol
Telephone Exchange, Andheri, East, Mumbai – 400 093, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwala And Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage, |
|
Tel. No.: |
91-22-66348020 |
|
Fax No.: |
91-22-22673964 |
|
PAN No.: |
AAAFK7554R |
|
|
|
|
Holding Company : |
|
|
|
|
|
Joint Ventured : |
CIN No.: U15410MH1991PLC135359 |
|
|
|
|
Other related parties: |
CIN No.: L24241MH1988PLC097781
|
CAPITAL STRUCTURE
As on: 13.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
198900 |
Equity Shares |
Rs.10/- each |
Rs. 1.989
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.989 |
1.989 |
1.753 |
|
(b) Reserves & Surplus |
1204.922 |
1386.768 |
1017.578 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
213.770 |
|
Total
Shareholders’ Funds (1) + (2) |
1206.911 |
1388.757 |
1233.101 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.973 |
4.055 |
4.512 |
|
Total Non-current
Liabilities (3) |
5.973 |
4.055 |
4.512 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
305.000 |
0.000 |
0.000 |
|
(b) Trade payables |
181.996 |
73.262 |
193.509 |
|
(c) Other current liabilities |
113.378 |
87.315 |
90.308 |
|
(d) Short-term provisions |
0.675 |
0.461 |
2.105 |
|
Total Current
Liabilities (4) |
601.049 |
161.038 |
285.922 |
|
|
|
|
|
|
TOTAL |
1813.933 |
1553.850 |
1523.535 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
907.355 |
649.368 |
463.601 |
|
(ii) Intangible Assets |
260.032 |
310.698 |
360.092 |
|
(iii) Capital work-in-progress |
0.096 |
30.277 |
148.694 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.409 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
5.767 |
5.286 |
4.502 |
|
(d) Long-term Loan and Advances |
60.339 |
120.801 |
20.047 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1233.589 |
1116.430 |
997.345 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
381.074 |
268.894 |
235.351 |
|
(c) Trade receivables |
153.655 |
106.305 |
114.611 |
|
(d) Cash and cash equivalents |
38.678 |
44.909 |
159.055 |
|
(e) Short-term loans and advances |
6.816 |
17.227 |
17.117 |
|
(f) Other current assets |
0.121 |
0.085 |
0.056 |
|
Total Current Assets |
580.344 |
437.420 |
526.190 |
|
|
|
|
|
|
TOTAL |
1813.933 |
1553.850 |
1523.535 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3192.438 |
2661.323 |
2290.437 |
|
|
|
Other Income |
2.030 |
4.809 |
2.768 |
|
|
|
TOTAL (A) |
3194.468 |
2666.132 |
2293.205 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2196.525 |
1385.545 |
1029.016 |
|
|
|
Purchases of stock-in-trade |
125.087 |
126.332 |
358.113 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(82.288) |
(25.686) |
(17.482) |
|
|
|
Employee benefit expense |
183.730 |
206.373 |
202.703 |
|
|
|
Other expenses |
807.464 |
707.683 |
492.028 |
|
|
|
Expenditure on production |
0.000 |
0.000 |
(6.102) |
|
|
|
TOTAL (B) |
3230.518 |
2400.247 |
2058.276 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(36.050) |
265.885 |
234.929 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.060 |
0.000 |
1.821 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(51.110) |
265.885 |
233.108 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
131.217 |
115.478 |
91.287 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(182.327) |
150.407 |
141.821 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.481) |
(5.246) |
12.461 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(181.846) |
155.653 |
129.360 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
41.328 |
(114.325) |
(243.685) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
140.518 |
41.328 |
(114.325) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(914.26) |
782.57 |
738.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.69) |
5.83 |
5.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.71) |
5.65 |
6.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.09) |
9.91 |
10.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.15) |
0.11 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
2.71 |
1.85 |
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 |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Loans repayable on demand |
150.000 |
0.000 |
|
|
|
|
|
Total |
150.000 |
0.000 |
CASE DETAILS
|
Stamp No.:- |
CAWST/23689/2012 |
Filing Date:- |
28.08.2012 |
Reg. No.:- |
CAW/2260/2012 |
Reg. Date:- |
28.08.2012 |
|
Stamp No.:- |
Reg. Date:- |
WP/7042/2012 |
|
Petitioner:- |
The Member Secretary, Maharashtra |
Respondent:- |
Godrej Tyson Foods Limited |
|
Petn. Adv.:- |
Ms. Sharmila U. Deshmukh |
|
|
|
District:- |
Raigad |
|
|
|
Bench:- |
Division |
|
|
|
Status:- |
Pre-Admission |
Category:- |
For Direction |
|
Last Date:- |
02.09.2013 |
Stage:- |
For admission - after notice [civil side matters] |
|
Last Coram:- |
Hon'ble The Chief Justice Hon'ble Shri Justice M.S. Sanklecha |
|
|
|
Act :- |
Other Act |
REVIEW OF OPERATIONS
The year was a year of turmoil for the Poultry Industry. The Poultry Industry had to bear the brunt of significant raw material price increases. The major price increase has happened in Soya meal price, average 55% increase and in Corn price, average 20% increase in 2012-13 over March 2012 price. As If this blow was not enough, the Poultry Industry witnessed significant drop in the output prices on account of excess supply and outbreak of bird flu in Southern part of India. The Company tried to salvage the situation by taking regular price increases in the Processed Chicken Segment and the Value Added Segment of Yummiez These increases in prices further resulted into muted growth in the processed chicken and value added? Yummiez Business resulting these business segments growing by 4% and 10% in top line over the previous year respectively. Since the growth in the processed chicken and Yummiez Business was muted, excess broilers was required to be sold in the live bird market at a much lower price (especially during the peak season when the live bird prices dropped significantly below the cost of production). This has resulted into 110% growth in Live Bird Sale over the previous year. The company was also able to salvage the situation by sale of hatching eggs and parent stock (Cull Birds) which was profitable during the year. Overall the Company has reported 20% growth in Turnover @ -5.71% Loss on this turnover (Previous year profit @ 5.65%).
During the Year the Company has invested heavily in 4 different Capital projects and successfully commissioned the same in this year. These projects include 2 Waste Water Treatment Plant (WWTP) projects, one at Taloja and another one at Hoskote factory and 2 Capacity Expansion Projects, one at Taloja (from 27000 BPD to 40000 BPD) and another one at Hoskote (from 27000 BPD to 48000 BPD).
During the year the Company has also got Capital sanction for purchase of new Freezers (725 freezers) and Chillers (300 Chillers) and the placement process has already started before end of this year.
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10389909 |
26/11/2012 |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B63246458 |
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. 65.96 |
|
|
1 |
Rs. 102.91 |
|
Euro |
1 |
Rs. 86.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.