MIRA
INFORM REPORT
|
Report Date : |
12.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
KANDLA ENERGY AND CHEMICALS LIMITED [w.e.f.19.05.2009] |
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|
|
|
Formerly Known
As : |
KANDLA ENERGY AND CHEMICALS PRIVATE LIMITED [w.e.f.12.05.2009] BHAGWATI REMIDES PRIVATE LIMITED
|
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|
|
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Registered
Office : |
11, Second Floor,
Shri Krishna Centre, Near Mithakhali Six Roads, Navrangpura, Ahmedabad –
380009, Gujarat |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
07.03.2005 |
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Com. Reg. No.: |
04-045642 |
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Capital
Investment / Paid-up Capital : |
Rs. 210.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230GJ2005PLC045642 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTB01206C |
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|
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PAN No.: [Permanent Account No.] |
AACCB5722H |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Solvents such as Aromatic and Aliphatic
Chemicals. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3789000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. External borrowing of the company has increased in 2012. However, overall financial position of the company appears to be
decent. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : BBB+ |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
February 15, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
February 15, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
11, Second
Floor, Shri Krishna Centre, Near Mithakhali Six Roads, Navrangpura, Ahmedabad
– 380009, Gujarat, India |
|
Tel. No.: |
91-79-40049350/ 32407411 |
|
Fax No.: |
91-79-26441472 |
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E-Mail : |
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Website : |
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Corporate Office : |
4th Floor, Sarthik Annexe, Iscon Circle, S.G. Highway,
Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-40371268/ 69 |
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Fax No.: |
91-79-26920718 |
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E-Mail : |
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Factory : |
Survey No. 52/1 to 55, Village Devaliya, Taluka Anjar, District Kachchh, Gujarat, India |
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Branch Offices : |
Located at: · Mumbai New Delhi Bangalore United Arab Emirates |
DIRECTORS
AS ON 21.07.2012
|
Name : |
Mr. Sanjayprakash Baleshwar Rai |
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Designation : |
Managing director |
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Address : |
D.B.Z North-128-A
Gandhidham – 370201, Gujarat, India |
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Date of Birth/Age : |
39 Years |
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Qualification : |
M.B.A |
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Experience : |
18 Years |
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Date of Appointment : |
01.06.2009 |
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PAN No.: |
ABRPR7319H |
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DIN No.: |
02177830 |
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Other Directorship :
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Name : |
Kanchan Sanjayprakash Rai |
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Designation : |
Whole-time director |
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Address : |
Plot
No-656, 12/C Lilashahnagar, Gandhidham – 370201, Gujarat, India |
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Date of Birth/Age : |
30 Years |
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Qualification : |
M.B.A |
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Experience : |
10 Years |
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Date of Appointment : |
01.06.2009 |
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DIN No.: |
02177351 |
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Other Directorship :
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Name : |
Mr. Arun Dwarkaprasad Karwa |
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Designation : |
Director |
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Address : |
J-504,
Near Subhash Bridge Corner, Shahibaug, Ahmedabd – 380004, Gujarat, India |
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Date of Birth/Age : |
12.02.1961 |
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Date of Appointment : |
21.07.2012 |
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DIN No.: |
03581820 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Prashant Khandelwal |
|
Designation : |
Director Trade (Functional) |
|
Date of Birth/Age : |
36 Years |
|
Qualification : |
CA |
|
Experience : |
12 Years |
|
|
|
|
Name : |
Mr. Prakash Verma |
|
Designation : |
CEO - Power Trading |
|
Date of Birth/Age : |
60 Years |
|
Qualification : |
MBA, BE |
|
Experience : |
32 Years |
|
|
|
|
Name : |
Mr. Rajesh Sharama |
|
Designation : |
Chief Operating Officer |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B.E. Chemical |
|
Experience : |
27 Years |
|
|
|
|
Name : |
Mr. Mukteshwar Prashad Sharma |
|
Designation : |
Senior Vice President - Sales and Marketing |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
D.B.E., M.Ed. |
|
Experience : |
34 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sanjayprakash B. Rai |
|
19786000 |
|
Kanchan S. Rai |
|
1000 |
|
Amit Agarwal |
|
183500 |
|
Kamlesh Agarwal |
|
122500 |
|
Vijay Singh |
|
295000 |
|
Rajesh Patel |
|
163500 |
|
Vikram Hingorani |
|
158500 |
|
Pradeep T. Rai |
|
160000 |
|
Pradeep M. Chellani |
|
130000 |
|
|
|
|
|
Total |
|
21000000 |
AS ON 21.07.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Solvents such as Aromatic and Aliphatic
Chemicals. |
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|
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|
Products/ Services : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
Licensed Capacity - N.A.
Installed Capacity - 120000 K.L.
|
Particulars |
Actual Production Qty. K.L. |
|
Kefol-300 |
2416.487 |
|
Kesol-100 |
50283.274 |
|
Kesol-150 |
5052.571 |
|
Kesol-200 |
735.285 |
|
Kemax-80 |
1462.612 |
|
Kemol-16/22 |
28.470 |
|
Kemol-20/30 |
18.483 |
|
Kemol-40 |
75.335 |
|
Kemol-50/120 |
2.940 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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Bankers : |
State Bank of India, Mid Corporate Group, Industrial Finance Branch, Neptune Tower Annexe, Near Sakar VII, Ashram Road, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Pankaj R Shah and Company Chartered Accountants |
|
Address : |
1, GF, Raghav Flat, 55 Chaitanya Nagar Society, Stadium Road,
Navrangpura, Ahmedabad – 380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ALOPS1089A |
|
|
|
|
Subsidiary Company : |
Kandla Energy and Chemicals DMCC |
CAPITAL STRUCTURE
AFTER 21.07.2012
Authorised Capital : Rs. 350.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 210.000
Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 210.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
210.000 |
157.000 |
|
(b) Reserves & Surplus |
|
737.301 |
325.450 |
|
(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) |
|
947.301 |
482.450 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
87.369 |
168.027 |
|
(b) Deferred tax liabilities (Net) |
|
26.186 |
23.785 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
113.555 |
191.812 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
978.590 |
397.177 |
|
(b)
Trade payables |
|
1177.031 |
364.542 |
|
(c) Other
current liabilities |
|
26.091 |
3.914 |
|
(d) Short-term
provisions |
|
27.432 |
55.481 |
|
Total Current
Liabilities (4) |
|
2209.144 |
821.114 |
|
|
|
|
|
|
TOTAL |
|
3270.000 |
1495.376 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
271.543 |
276.600 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
9.124 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
42.784 |
1.014 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
27.590 |
1.697 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
351.041 |
279.311 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1360.120 |
389.954 |
|
(c)
Trade receivables |
|
1239.584 |
732.592 |
|
(d) Cash
and cash equivalents |
|
199.259 |
80.253 |
|
(e)
Short-term loans and advances |
|
119.996 |
13.266 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
2918.959 |
1216.065 |
|
|
|
|
|
|
TOTAL |
|
3270.000 |
1495.376 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
110.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
81.365 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
191.365 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
217.818 |
|
|
2] Unsecured Loans |
|
|
85.774 |
|
|
TOTAL BORROWING |
|
|
303.592 |
|
|
|
|
|
|
|
|
OTHER LIABILITIES |
|
|
12.113 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
507.070 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
292.545 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
124.789 |
|
|
Sundry Debtors |
|
|
248.170 |
|
|
Cash & Bank Balances |
|
|
25.257 |
|
|
Other Current Assets |
|
|
1.062 |
|
|
Loans & Advances |
|
|
35.626 |
|
Total
Current Assets |
|
|
434.904 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
166.396 |
|
|
Other Current Liabilities |
|
|
4.479 |
|
|
Provisions |
|
|
49.504 |
|
Total
Current Liabilities |
|
|
220.379 |
|
|
Net Current Assets |
|
|
214.525 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
507.070 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
4778.456 |
2687.346 |
780.698 |
|
|
|
Other Income |
133.710 |
94.853 |
21.266 |
|
|
|
TOTAL (A) |
4912.166 |
2782.199 |
801.964 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3655.785 |
1907.762 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(186.220) |
(11.076) |
|
|
|
|
Employee benefit expense |
44.448 |
32.378 |
|
|
|
|
Other expenses |
523.589 |
342.138 |
|
|
|
|
TOTAL (B) |
4037.602 |
2271.202 |
671.137 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
874.564 |
510.997 |
130.827 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
205.657 |
57.657 |
26.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
668.907 |
453.340 |
104.409 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.007 |
42.943 |
19.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
627.900 |
410.397 |
85.313 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
216.048 |
147.996 |
33.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
411.852 |
262.401 |
52.107 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
2161.955 |
638.696 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.61 |
16.71 |
4.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.38
|
9.43 |
6.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.14
|
15.27 |
10.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.51
|
27.46 |
11.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66
|
0.85 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.13
|
1.17 |
1.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.48 |
1.97 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10370827 |
24/01/2013 * |
1,718,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FIANCE
BRANCH, 1ST FLOOR, NEPTUNE TOWER ANNEXE, NEHRU BRIDGE, OFF ASHRAM ROAD,
AHMEDABAD - 380009, |
B67371500 |
|
2 |
10152449 |
31/07/2013 * |
3,958,400,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, INDUSTRIAL FINANCE BRANCH, NEPTUNE TOWER ANNEXE, NEAR SAKAR VII, ASHRAM ROAD, AHMEDABAD - 380006, GUJARAT, INDIA |
B81000796 |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM BORROWINGS |
|
|
|
Deposits from directors |
11.685 |
73.396 |
|
Total |
11.685 |
73.396 |
NATURE OF OPERATION:
Nature of activities of the subject is manufacturing of
Solvents such as Aromatic and Aliphatic Chemicals. The plant is situated at
Village Devaliya, Taluka Anjar, Kachchh in the state of Gujarat.
REVIEW OF OPERATIONS:
During the year, the Company achieved Gross sales turnover of Rs 5344.272 Millions compared to previous year sales of Rs. 3059.575 Millions. The profit before depreciation and tax has increased to Rs.668.906 Millions from Rs. 453.340 Millions. The net profit after tax has increased to Rs. 411.852 Millions from Rs. 262.401 Millions. Thus, the net profit has increased by 43% as compared to the year 2010-11.
Their team has worked very hard and continuously widening
the market. The qualities of their products are under continuous improvement to
meet with the expectations of domestic customers as well as international
customers. We have been able to enlarge their market share.
FUTURE PROSPECTS:
The company is expanding its marketing and production network. The company is in process of acquiring a company having production facility near Mumbai to bring synergies in sales. The new plant will improve the bottom line of the company as the company will save in terms of the logistic cost for the material procured from RIL's Patalganga Plant and will also save CST.
The company also plans to open Procurement and Sales Offices in London and Hong Kong.
The company is exploring opportunities to establish full
fledge production facility in the GCC region Dubai. The production facility will
cater to the GCC and other international markets.
FIXED ASSETS:
· Land
Buildings
Factory
building
Plant
and equipment
Factory
equipments
Other
plant and equipment
Furniture
and fixtures
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.90 |
|
|
1 |
Rs. 100.47 |
|
Euro |
1 |
Rs. 84.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.