MIRA INFORM REPORT
|
Report Date : |
12.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOFTGEL HEALTHCARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Old No.7, New No.15, Gopalakrishnan Road, T. Nagar, Chennai – 600017,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.10.2003 |
|
|
|
|
Com. Reg. No.: |
18-051829 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.285.111 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231TN2003PTC051829 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS627L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Pharmaceutical Products. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 780000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
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|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. The company has recorded some accumulated losses from its operations. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.
|
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports
and moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts
from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central
Bureau of Investigation will look into allegations that over $80 million was
paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to
find a solution for problems with state-owned Air India’s 787 Dreamliners. The
aircraft has experienced a series of malfunctions since its debut in 2011.
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 : |
Mrs. Patricia |
|
Designation : |
Financial Manager |
|
Contact No.: |
91-9380167063 |
|
Date : |
09.04.2014 |
LOCATIONS
|
Registered Office : |
Old No.7, New No.15, Gopalakrishnan Road, T. Nagar, Chennai – 600017,
Tamilnadu, India |
|
Tel. No. : |
91-44-23452030-34 |
|
Mobile No. : |
91-9380167063 (Mrs. Patricia) |
|
Fax No. : |
91-44-23452034 / 36 |
|
E-Mail : |
accounts@softgelhealthcare.com
|
|
Website : |
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|
|
|
|
Factory : |
Survey No:20/1, Vandalur - Kelambakkam Road, Pudupakkam
Village - 603103, Kancheepuram, Tamilnadu, India |
|
Tel. No. : |
91-737-3251777, 3252777, 3253777 |
|
Fax No. : |
91-44-2747 5857 |
DIRECTORS
As on 06.09.2013
|
Name : |
Mr. Abdulhai Mohammed Sulaiman |
|
Designation : |
Managing director |
|
Address : |
Old No 16. New No 33/1, Kannadasan Road, T. Nagar, Chennai – 600017,
Tamilnadu, India |
|
Date of Birth/Age : |
01.05.1951 |
|
Qualification : |
B. Pharm |
|
Date of Appointment : |
23.10.2003 |
|
DIN No.: |
01186491 |
|
|
|
|
Name : |
Mrs. Gandhimathi Alagappan |
|
Designation : |
Director |
|
Address : |
No. 21/22, 5th Main
Road, Lake Area, Nungambakkam, Chennai – 600034, Tamilanadu, India |
|
Date of Birth/Age : |
02.03.1958 |
|
Qualification : |
SSLC |
|
Date of Appointment : |
02.08.2004 |
|
DIN No.: |
01542295 |
|
|
|
|
Name : |
Mrs. Meenakshi Nagappan |
|
Designation : |
Director |
|
Address : |
2D, The South gate, 35 Kasturiranga Road, Alwarpet, Chennai – 600018,
Tamilnadu, India |
|
Date of Birth/Age : |
21.03.1963 |
|
Date of Appointment : |
26.09.2009 |
|
DIN No.: |
01186189 |
|
|
|
|
Name : |
Mrs. Mangaleswari Balakumar |
|
Designation : |
Director |
|
Address : |
27A,11A, Moosa Street, T. Nagar, Chennai-600017, Tamil Nadu,
India |
|
Date of Birth/Age : |
18.03.1962 |
|
Qualification : |
SSLC |
|
Date of Appointment : |
26.09.2009 |
|
DIN No.: |
01186450 |
|
|
|
|
Name : |
Mr. Sivasamy Manohar |
|
Designation : |
Director |
|
Address : |
25, Kamala Nagar, Madurai-625002, Tamil Nadu, India |
|
Date of Birth/Age : |
15.03.1953 |
|
Date of Appointment : |
26.09.2009 |
|
DIN No.: |
01057515 |
|
|
|
|
Name : |
Mr. A. Vijay Anand |
|
Designation : |
Whole-time Director |
|
Address : |
21/22, Lake Area 5th Creoss Street, Nugambakkam, Chennai –
600034, Tamilnadu, India |
|
Date of Birth/Age : |
24.03.1983 |
|
Date of Appointment : |
17.09.2012 |
|
DIN No.: |
06381968 |
KEY EXECUTIVES
|
Name : |
Mrs. Patricia |
|
Designation : |
Financial Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.09.2013
|
Names of Shareholders |
No. of Shares |
|
A.M.
SuLaiman |
650000 |
|
N.
Meenakshy |
1000000 |
|
B.
Mangaleshwari |
920000 |
|
A.
L Gandhimathi |
650000 |
|
S.
Manohar |
610000 |
|
Maral
Labs |
2665000 |
|
The
Madras Pharmaceuticals |
9195000 |
|
Doppler
Scan |
100000 |
|
Alagappan |
800000 |
|
S. Humayun |
800000 |
|
Nagappan |
450000 |
|
B.Vijay |
530000 |
|
M Chitra |
740000 |
|
Balajadia
Zenaida Dizon |
9401074 |
|
|
|
|
Total |
28511074 |
As on 06.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
33.00 |
|
Directors or relatives of Directors |
67.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pharmaceutical Products. |
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Products : |
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Agencies Held : |
² Pharmacy and
Poisons Board Kenya ² National Drug
Authority Uganda ² Ministry of
Health Ukraine ² Tanzania Food
and Drug Agency Tanzania ² Health Product
and Food Branch Directorate Canada ² National Agency
for Food and Drug Administration and control (NAFDAC) Nigeria ² Bureau of Foods
and Drug Authority Philippines ² Ministry of
Health Sri Lanka ² Pharmacy
Medicines and Poisons Board Malawi ² Medicines and
Healthcare products Regulatory Agency United Kingdom ² Department of
Health and Ageing Therapeutic goods Administration Australian Government
Australia ² ISO 9001 2000
India ² ISO 14001 2004
India |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
China |
GENERAL INFORMATION
|
Suppliers : |
Nitta Gelatin India Limited |
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Customers : |
IDA, Netherland |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
N Rajaraman and Assocaites Chartered Accountants |
|
Address : |
No.100, 1st
Floor, 3rd Cross Street, Sundar Nagar, Guindy, Chennai – 600032,
Tamilnadu, India |
|
PAN
No. : |
AAAFR5096B |
|
|
|
|
Associates : |
¨ The Madras
Pharma ¨ Accent Pharma ¨ Maral Labs ¨ Steril-Gene Life
Sciences Private Limited ¨ Lloyd
Laboratories Private Limited ¨ Tristar
Formulations Private Limited ¨ Ocean Health And
Medical Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28511074 |
Equity Shares |
Rs.10/- each |
Rs.285.111 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
285.111 |
285.111 |
150.000 |
|
(b) Reserves & Surplus |
(90.077) |
(111.386) |
(131.080) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
195.034 |
173.725 |
18.920 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
28.178 |
47.892 |
135.558 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
28.178 |
47.892 |
135.558 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
130.520 |
77.316 |
68.674 |
|
(b) Trade payables |
107.970 |
114.255 |
120.078 |
|
(c) Other current liabilities |
44.909 |
67.090 |
55.408 |
|
(d) Short-term provisions |
8.489 |
5.935 |
4.231 |
|
Total
Current Liabilities (4) |
291.888 |
264.596 |
248.391 |
|
|
|
|
|
|
TOTAL |
515.100 |
486.213 |
402.869 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
230.652 |
232.109 |
211.125 |
|
(ii) Intangible Assets |
0.835 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1.774 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
8.146 |
14.381 |
5.875 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
241.407 |
246.490 |
217.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
92.048 |
114.022 |
90.170 |
|
(c) Trade receivables |
161.529 |
92.899 |
79.307 |
|
(d) Cash and cash equivalents |
7.355 |
3.963 |
7.057 |
|
(e) Short-term loans and advances |
2.391 |
13.406 |
0.451 |
|
(f) Other current assets |
10.370 |
15.433 |
8.884 |
|
Total
Current Assets |
273.693 |
239.723 |
185.869 |
|
|
|
|
|
|
TOTAL |
515.100 |
486.213 |
402.869 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
549.347 |
451.692 |
323.096 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
476.818 |
381.246 |
258.876 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
72.529 |
70.446 |
64.220 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
24.163 |
27.320 |
26.611 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
48.366 |
43.126 |
37.609 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.755 |
24.131 |
14.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
20.611 |
18.995 |
22.816 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
20.611 |
18.995 |
22.816 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.72 |
0.66 |
0.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.75 |
4.21 |
7.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.02 |
3.91 |
5.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.11 |
1.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.81 |
0.72 |
10.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
0.91 |
0.75 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
150.000 |
285.111 |
285.111 |
|
Reserves & Surplus |
(131.080) |
(111.386) |
(90.077) |
|
Net
worth |
18.920 |
173.725 |
195.034 |
|
|
|
|
|
|
long-term borrowings |
135.558 |
47.892 |
28.178 |
|
Short term borrowings |
68.674 |
77.316 |
130.520 |
|
Total
borrowings |
204.232 |
125.208 |
158.698 |
|
Debt/Equity
ratio |
10.795 |
0.721 |
0.814 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
323.096 |
451.692 |
549.347 |
|
|
|
39.801 |
21.620 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
323.096 |
451.692 |
549.347 |
|
Profit |
22.816 |
18.995 |
20.611 |
|
|
7.06% |
4.21% |
3.75% |
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 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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 |
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 LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
9.276 |
0.000 |
|
Other loans and advances |
2.500 |
0.000 |
|
|
|
|
|
Total |
11.776 |
0.000 |
REVIEW OF
OPERATIONS:
The year has shown
an improved performance of the Company in terms of Turnover as well as Profit
before tax compared to last year. The turnover of the company recorded an
increase of 21.62% compared to last year
OUT LOOK:
Registration
process of our products is going on in many countries like Iran, Vietnam,
Mexico, Panama, Coasta Rica, Ukraine etc.
They have been
exporting their products to IDA foundation (Netherlands), Forum Products
(United Kingdom), South American Express (Bolivia) in the year.
On the domestic
front, during the current year, they have done business with a few reputed
pharmaceutical companies like Intas Pharmaceuticals Private Limited, Indus
Pharmaceuticals Private Limited, Apex Laboratories, FDC Limited, Ranbaxy
Laboratories Limited, Macleods Pharmaceuticals Limited, Orbit Life Science
Private Limited, Medreich Limited, Amway India Enterprises Private Limited etc.
They are taking utmost care in initiating business with the companies which
have good annual requirements and are ready to pay.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24231TN2003PTC051829 |
|
Name of the
company |
SOFTGEL
HEALTHCARE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Old No.7, New No.15, Gopalakrishnan Road, T. Nagar, Chennai – 600017,
Tamilnadu, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10413108 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
DBS BANK Limited, 806, Anna Salai, Chennai – 600002, Tamilnadu, India |
|
Nature of
instrument creating charge |
Declaration dated 16th September 2013 |
|
Date of
instrument Creating the charge |
16.09.2013 |
|
Amount secured by
the charge |
Rs. 132.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per sanctioned terms Term
of Payment: As per sanctioned terms Margin 25% of Hypothecated
Goods and Debts. Extent and
operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
All
that piece and parcel of land situated at Survey No. 20/1, Vandalur Kelambakkam
Road, Puduppakam Village, Kancheepuram District, Tamil Nadu - 603 103 and
more specified in Sch-1 to the declaration |
|
Date of last modification prior to the present modification |
28.02.2013 |
|
Particulars of the present modification |
The
Charge ID is getting modified for creating exclusive charge on immovable FA vide the declaration dated 16th September 2013 to the existing
charge on Currents assets current of
the borrower. |
FIXED ASSETS
œ
Land
œ
Factory Building
œ
Computer
œ
Furniture and Fittings
œ
Office Equipments
œ
Plant and Machinery
œ
Vehicles
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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.