|
Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARDOR INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
'Ardor House' Mondeal Business Park, Beside Gurudwara, S G
Road, Thaltej, Ahmedabad – 380059, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
18.02.2003 |
|
|
|
|
Com. Reg. No.: |
04-042016 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.300.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909GJ2003PTC042016 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA02915D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of LAB, DDB, STPP and Other Chemicals. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1990000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Latest financial of 2013 are not available with us. As per the
financial available from indirect source, there appears an increases in the
sales turnover as well as net profitability during 2012. Trade relations are fair. Business is active. Payments terms are
usually correct. In view of established market position of the subject the company can
be considered for business dealings at usual trade terms and conditions. NOTE : The financial for the year 2011 and 2012 are taken from
indirect sources i.e. CRISIL |
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 |
CRISIL |
|
Rating |
Long term rating BBB |
|
Rating Explanation |
Moderate degree of safety. moderate credit
risk. |
|
Date |
20 December, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A3+ |
|
Rating Explanation |
Moderate degree of safety. Higher credit
risk |
|
Date |
20 December, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Yogesh Shah |
|
Designation : |
Head of Account Department |
|
Contact No.: |
91-79-66219999 |
|
Date : |
18.09.2013 |
LOCATIONS
|
Registered Office : |
'Ardor House' Mondeal Business Park, Beside Gurudwara, S G Road, Thaltej, Ahmedabad – 380059, Gujarat, India |
|
Tel. No.: |
91-79-66219999 |
|
Fax No.: |
91-79-66219988 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Fenilbhai Bharatbhai Shah |
|
Designation : |
Managing Director |
|
Address : |
301, |
|
Date of Birth/Age : |
27.10.1976 |
|
Experience : |
9 Years |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00044522 |
|
|
|
|
Name : |
Mrs. Gitaben Bharatbhai Shah |
|
Designation : |
Director |
|
Address : |
A-11, North Way Apartment, St. Xavier Collage Road, Navrangpura,
Ahmedabad – 380 009, Gujarat, India |
|
Date of Appointment : |
18.02.2003 |
|
DIN No.: |
00049071 |
|
|
|
|
Name : |
Mr. Bharatbhai Ratnshi Shah |
|
Designation : |
Director |
|
Address : |
301, |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
02438343 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Fenil B. Shah |
|
9967500 |
|
Gitaben Shah |
|
9967500 |
|
Janaki F. Shah |
|
9967500 |
|
Smita Rakesh Bhatt |
|
171500 |
|
Shilpa Rakesh Shah |
|
171500 |
|
Hasmukh D. Thakor |
|
84250 |
|
Umang S. Patel |
|
84250 |
|
Navin D. Thakor |
|
84250 |
|
Nilesh Ashokkumar Solankhi |
|
84250 |
|
Nipesh R. Shah |
|
106750 |
|
Kamini A Soni |
|
171500 |
|
Amitaben S. Shah |
|
122500 |
|
Shaileshkumar R. Shah |
|
62500 |
|
Shailesh Shah (HUF) |
|
62500 |
|
Arunkumar Shah (HUF) |
|
113500 |
|
Ruchitkumar A. Shah |
|
113500 |
|
Nayanaben Shah |
|
111000 |
|
Milanbhai Mehta |
|
116625 |
|
Shrikeshbhai Mehta |
|
116625 |
|
Nitaben Mehta |
|
116625 |
|
Malvikaben Mehta |
|
116625 |
|
Vasumatiben Mehta |
|
177250 |
|
Bharatbhai Shah |
|
9967500 |
|
Jinal Shah |
|
9967500 |
|
Ardor In–Fin Private Limited, |
|
9967500 |
|
Nayankumar Mehta |
|
600000 |
|
Ardor Structure Private Limited, |
|
9967500 |
|
Greenland Infracon Private Limited, |
|
9967500 |
|
Infinium Det chem. Private Limited, |
|
9530000 |
|
Jayco Synthetics Private Limited, India |
|
9530000 |
|
Ardor Global Private Limited, India |
|
6912500 |
|
Total |
|
108500000 |
As on: 22.03.2013
|
Names of Allottees |
|
No. of Shares |
|
Fenil B Shah |
|
3200000 |
|
Bharatbhai R Shah |
|
3200000 |
|
Gita ben B Shah |
|
3200000 |
|
Janki Bharatbhai Shah |
|
3200000 |
|
Jinal Bharatbhai Shah |
|
3200000 |
|
Ardor In‐Fin Private Limited |
|
3200000 |
|
Ardor Structures Private Limited |
|
3200000 |
|
Greenland Infracon Private Limited |
|
3200000 |
|
Jayco Synthetics Private Limited, India |
|
3500000 |
|
Infinium Det chem. Private Limited, India |
|
3500000 |
|
Ardor Global Private Limited, India |
|
3900000 |
|
Total |
|
36500000 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
42.31 |
|
Directors or relatives of Directors |
57.69 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of LAB, DDB, STPP and Other Chemicals. |
|
|
|
|
Imports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
40 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vipul and Manish Associates Chartered Associates |
|
Address : |
True Value House, Opposite ISRO, Near Sundarvan Bus Stop, Satellite, Ahmedabad
– 380 015, |
|
Tel. No.: |
91-79-26730650/ 26730675 |
|
Mobile No.: |
91-9727735731 |
|
Fax No.: |
91-79-26730675 |
|
E-Mail : |
|
|
PAN No. : |
AACFV2807J |
|
|
|
|
Associate Entities : |
|
CAPITAL STRUCTURE
After: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
145000000 |
Equity Shares |
Rs.10/- each |
Rs.1450.000 Millions |
|
|
|
|
|
As on: 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
300.000 |
230.000 |
100.000 |
|
|
2] Share Application Money |
75.000 |
40.000 |
0.000 |
|
|
3] Reserves & Surplus |
124.292 |
49.258 |
10.094 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
499.292 |
319.258 |
110.094 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
320.007 |
215.141 |
42.375 |
|
|
2] Unsecured Loans |
349.668 |
311.628 |
354.104 |
|
|
TOTAL BORROWING |
669.675 |
526.769 |
396.479 |
|
|
DEFERRED TAX LIABILITIES |
1.239 |
0.466 |
0.360 |
|
|
|
|
|
|
|
|
TOTAL |
1170.206 |
846.493 |
506.933 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.446 |
3.745 |
3.800 |
|
|
Capital work-in-progress |
40.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
13.490 |
1.900 |
1.900 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
389.093 |
184.818 |
86.263 |
|
|
Sundry Debtors |
1004.517 |
860.141 |
521.399 |
|
|
Cash & Bank Balances |
48.988 |
71.656 |
96.035 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
294.765 |
134.071 |
25.120 |
|
Total
Current Assets |
1737.363 |
1250.686 |
728.817 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
418.267 |
400.767 |
191.744 |
|
|
Other Current Liabilities |
215.652 |
10.000 |
36.371 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
633.919 |
410.767 |
228.115 |
|
|
Net Current Assets |
1103.444 |
839.919 |
500.702 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.826 |
0.929 |
0.531 |
|
|
|
|
|
|
|
|
TOTAL |
1170.206 |
846.493 |
506.933 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6277.140 |
3905.772 |
1432.205 |
|
|
|
Other Income |
8.871 |
7.279 |
5.883 |
|
|
|
TOTAL (A) |
6286.011 |
3913.051 |
1438.088 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
6014.956 |
3735.114 |
1354.582 |
|
|
|
Payment to and provision for Employee |
41.571 |
13.836 |
6.315 |
|
|
|
Office & Administrative Expenses |
56.031 |
24.777 |
12.339 |
|
|
|
Preliminary Expenses written off |
0.653 |
0.351 |
0.201 |
|
|
|
TOTAL (B) |
6113.211 |
3774.078 |
1373.437 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
172.800 |
138.973 |
64.651 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
55.511 |
76.243 |
31.252 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
117.289 |
62.730 |
33.399 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.945 |
0.519 |
0.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
116.344 |
62.211 |
32.913 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
41.272 |
23.318 |
10.411 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
75.072 |
38.893 |
22.502 |
|
|
|
|
|
|
|
|
|
Add/ Less |
EXCESS/SHORT
PROVISION OF INCOME TAX |
0.038 |
0.271 |
(0.080) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
49.258 |
10.094 |
3.035 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
0.000 |
0.000 |
13.131 |
|
|
|
Dividend Distribution Tax |
0.000 |
0.000 |
2.232 |
|
|
BALANCE CARRIED
TO THE B/S |
124.292 |
49.258 |
10.094 |
|
|
|
|
|
|
|
|
|
|
EARNING IN FOREIGN
CURRENCY |
142.774 |
50.715 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.26 |
3.05 |
-- |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
10908.900 |
9004.400 |
|
|
|
|
|
|
Profit/Loss for the year |
|
142.700 |
109.300 |
|
|
|
|
|
NOTE: The financial for the year 2011 and 2012 are taken from indirect
sources i.e. CRISIL
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
19000.000 |
|
|
|
|
|
The above information has been parted by Mr. Yogesh Shah
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.19 |
0.99 |
1.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.85 |
1.59 |
2.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.65 |
4.96 |
4.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.19 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.34 |
1.65 |
3.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.74 |
3.04 |
3.19 |
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 |
Yes |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No.
of employees |
Yes |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
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 |
Yes |
|
20] |
Export
/ Import details (if applicable) |
Yes |
|
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 |
No |
|
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 |
UNSECURED LOAN:
|
Particulars |
31.03.2010 (Rs.
In Millions) |
31.03.2009 (Rs.
In Millions) |
|
Inter Corporate Deposits |
0.182 |
115.710 |
|
From Directors, relatives and share holders |
213.017 |
0.000 |
|
Buyer’s Credit from Banks |
136.469 |
195.918 |
|
Total |
349.668 |
311.628 |
OPERATIONS:
The company has achieved Turnover of
Rs.6277.100 millions during the year and earned net profit after tax of
Rs.75.100 millions after making provision for tax of Rs.41.300 millions. The
operation of Company comprised of sales of LAB, DDB, STPP, SODA ASH and other
chemicals. The company is confident to achieve higher sales in the coming
years.
INDEX CHARGES:
|
S.No.
|
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10421955
|
28/03/2013
|
674,000,000.00
|
State
Bank of India |
Overseas
Branch,3rd Floor, Amrut Jayanti Bhavan, Navjeevan Trust Sankul,, Ahmedabad, Gujarat
- 380014, INDIA |
B73792830
|
|
2 |
10416726
|
25/03/2013
|
1,352,000,000.00
|
BANK
OF INDIA |
AHMEDABAD
LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B72282338
|
|
3 |
10394426
|
05/12/2012
|
3,520,000,000.00
|
BANK
OF INDIA - BOI CONSORTIUM |
AHMEDABAD
LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B64986961
|
|
4 |
10352639
|
16/04/2012
|
480,000,000.00
|
Central
Bank of India |
Mid Corporate
Central Bank Building,, Lal Darwaja , Ahmedabad, Gujarat - 380001, INDIA |
B38571899
|
|
5 |
10269021
|
11/05/2012
* |
3,652,500,000.00
|
BANK
OF INDIA - BOI CONSORTIUM |
AHMEDABAD
LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B41307216
|
|
6 |
80066151
|
19/01/2006
|
50,000,000.00
|
BANK
OF INDIA |
AHMEDABAD
CORPORATE BANKING BRANCH, BHADRA, AHMED |
- |
|
7 |
90107105
|
11/05/2012
* |
3,652,500,000.00
|
BANK
OF INDIA - BOI CONSORTIUM |
AHMEDABAD
LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B41307133
|
* Date of charge modification
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.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.