1. Summary Information
|
Country |
India |
||
|
Company Name |
GKB RX LENS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Brijendra
Kumar Gupta |
|
Status |
Good |
Principal Name 2 |
Eric Pascal Javellaud |
|
Registration # |
21-039759 |
||
|
Street Address |
P-4, Kasba
Industrial Estate, Phase 1, Kolkata – 700107, West Bengal, India |
||
|
Established Date |
22.11.1985 |
SIC Code |
-- |
|
Telephone# |
91-33-24424354 /
24424355 |
Business Style 1 |
Processing |
|
Fax # |
91-33-24424940 /
24422863 |
Business Style 2 |
Selling |
|
Homepage |
Product Name 1 |
Plastic ophthalmic lenses |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.57,290,000/-
|
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate - 76.00% Directors or relatives of
directors - 24.00% |
Banking |
State
Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
29 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A
(65) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
-- |
Essilor India Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,236,619,000 |
Current Liabilities |
599,745,000 |
|
Inventories |
1,021,192,000 |
Long-term Liabilities |
54,803,000 |
|
Fixed Assets |
701,813,000 |
Other Liabilities |
58,872,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
713,420,000 |
|
Invest& other Assets |
10,007,000 |
Retained Earnings |
2,198,921,000 |
|
|
|
Net Worth |
2,256,211,000 |
|
Total Assets |
2,969,631,000 |
Total Liab. & Equity |
2,969,631,000 |
|
Total Assets (Previous Year) |
2,587,299,000 |
|
|
|
P/L Statement as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
468,823,000 |
|
Sales(Previous yr) |
NA |
Net Profit(Prev.yr) |
408,047,000 |
MIRA INFORM REPORT
|
Report Date : |
15.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GKB RX LENS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
P-4, Kasba Industrial Estate, Phase 1, Kolkata – 700107, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
22.11.1985 |
|
|
|
|
Com. Reg. No.: |
21-039759 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.57.290 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33201WB1985PTC039759 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG0673M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is primarily engaged in the business of
processing and selling of plastic ophthalmic lenses. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 9024000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects healthy financial risk profile marked by adequate
liquidity position and fair profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
AA (Cash Credit) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
February, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
A1+ (Non-Fund Based Limit) |
|
Rating Explanation |
Very strong degree of safety and very low
credit risk. |
|
Date |
February, 2014 |
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 DENIED BY
|
Name : |
Mr. Navin Jhawar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-33-24424354 |
|
Date : |
29.03.2014 |
LOCATIONS
|
Registered Office/ Head Office
: |
P-4 Kasba Industrial Estate, Phase 1, Kolkata – 700107, West Bengal,
India |
|
Tel. No.: |
91-33-24424354 / 24424355 / 24424356/ 24430190 |
|
Fax No.: |
91-33-24424940 / 24422863 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 25.06.2013
|
Name : |
Mr. Brijendra
Kumar Gupta |
|
Designation : |
Whole-Time Director |
|
Address : |
7/1A, Sunny Park,
Block – 8, Kolkata – 700019, West |
|
Date of Birth/Age : |
21.05.1940 |
|
Date of Appointment : |
09.01.2006 |
|
PAN No.: |
ADYPG4044M |
|
DIN No.: |
00417998 |
|
|
|
|
Name : |
Eric Pascal Javellaud |
|
Designation : |
Director |
|
Address : |
123 Avenue Du Centenaire, LA Varenne St. Hilaire, France – 94210,
France |
|
Date of Birth/Age : |
11.04.1963 |
|
Date of Appointment : |
18.02.2013 |
|
DIN No.: |
06374734 |
|
|
|
|
Name : |
Mr. Shiv Kumar Janardhanan |
|
Designation : |
Director |
|
Address : |
C – 303, 3rd Floor, Cassia, Block Brigade Millenium, |
|
Date of Birth/Age : |
21.07.1966 |
|
Date of Appointment : |
28.06.2007 |
|
DIN No.: |
00095649 |
|
|
|
|
Name : |
Mr. Anil Shankar |
|
Designation : |
Director |
|
Address : |
2 GR, Grand Residency, |
|
Date of Birth/Age : |
07.05.1965 |
|
Date of Appointment : |
28.06.2007 |
|
DIN No.: |
01605619 |
KEY EXECUTIVES
|
Name : |
Mr. Navin Jhawar |
|
Designation : |
Finance Manager and Secretary |
|
Address : |
Vivek Vihar, Block – C, Flat – 702, 493 / C / A, GT Road, Howrah,
Kolkata-711102, West Bengal, India |
|
Date of Birth/Age : |
22.12.1982 |
|
Date of Appointment : |
19.04.2007 |
|
PAN No.: |
ACXPJ1728K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.06.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Essilor India Private Limited, |
435404 |
76.00 |
|
Brijendra Kumar Gupta |
44339 |
7.74 |
|
Lalit Kumar Gupta |
41249 |
7.20 |
|
Sanjiv Kumar Gupta |
41249 |
7.20 |
|
Uma Gupta |
6597 |
1.15 |
|
B K Gupta and Sons (HUF) |
4062 |
0.71 |
|
|
|
|
|
Total |
572900 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.06.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
76.00 |
|
Directors or relatives of directors |
|
24.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is primarily engaged in the business of
processing and selling of plastic ophthalmic lenses. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountant |
|
Address : |
Kalpataru Heritage, 127, |
|
PAN No.: |
AAAFK7554R |
|
|
|
|
Ultimate Holding
Company : |
Essilor International SA |
|
|
|
|
Holding Company : |
Essilor India Private Limited U51394KA1998PTC023723 |
|
|
|
|
Fellow Subsidiaries
: |
|
|
|
|
|
Enterprises over
which Key Managerial Personnel have significant influence: |
U33202WB2005PTC102687
U17299WB1989PTC045878
|
CAPITAL STRUCTURE
As on: 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.100/- each |
Rs.60.000 Millions |
|
2000 |
Preferences Shares |
Rs.100/- each |
Rs.0.200 Million |
|
|
|
|
|
|
|
Total |
|
Rs.60.200
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
572900 |
Equity Shares |
Rs.100/- each |
Rs.57.290
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
57.290 |
57.290 |
|
(b) Reserves & Surplus |
|
2198.921 |
1750.205 |
|
(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) |
|
2256.211 |
1807.495 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.158 |
|
(b) Deferred tax liabilities
(Net) |
|
31.294 |
27.179 |
|
(c) Other long term
liabilities |
|
2.924 |
2.974 |
|
(d) long-term provisions |
|
6.044 |
4.637 |
|
Total
Non-current Liabilities (3) |
|
40.262 |
34.948 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
54.803 |
76.580 |
|
(b) Trade payables |
|
450.863 |
512.841 |
|
(c) Other current liabilities |
|
145.958 |
128.689 |
|
(d) Short-term provisions |
|
21.534 |
26.746 |
|
Total
Current Liabilities (4) |
|
673.158 |
744.856 |
|
|
|
|
|
|
TOTAL |
|
2969.631 |
2587.299 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
698.808 |
656.607 |
|
(ii) Intangible Assets |
|
3.005 |
1.893 |
|
(iii) Capital work-in-progress |
|
10.007 |
8.508 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
50.940 |
47.789 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
762.760 |
714.797 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1021.192 |
863.852 |
|
(c) Trade receivables |
|
816.516 |
831.800 |
|
(d) Cash and cash equivalents |
|
283.134 |
148.340 |
|
(e) Short-term loans and
advances |
|
78.628 |
25.291 |
|
(f) Other current assets |
|
7.401 |
3.219 |
|
Total
Current Assets |
|
2206.871 |
1872.502 |
|
|
|
|
|
|
TOTAL |
|
2969.631 |
2587.299 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
57.290 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1355.474 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1412.764 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
85.251 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
85.251 |
|
|
DEFERRED TAX LIABILITIES |
|
|
20.891 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1518.906 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
471.543 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
692.510
|
|
|
Sundry Debtors |
|
|
444.172
|
|
|
Cash & Bank Balances |
|
|
173.490
|
|
|
Other Current Assets |
|
|
3.550
|
|
|
Loans & Advances |
|
|
31.340
|
|
Total
Current Assets |
|
|
1345.062
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
203.236
|
|
|
Other Current Liabilities |
|
|
74.819
|
|
|
Provisions |
|
|
19.644
|
|
Total
Current Liabilities |
|
|
297.699
|
|
|
Net Current Assets |
|
|
1047.363
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1518.906 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
2116.264 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
1708.930 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
407.334 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
138.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
468.823 |
408.047 |
268.746 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
1117.777 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
557.427 |
|
|
|
Stores & Spares |
|
|
98.665 |
|
|
|
Capital Goods |
|
|
10.842 |
|
|
TOTAL IMPORTS |
NA |
NA |
666.934 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
818.33 |
712.25 |
469.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
12.70
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
30.28
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.29
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02
|
0.04
|
0.06
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.28
|
2.51
|
4.52
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
57.290 |
57.290 |
|
Reserves & Surplus |
1750.205 |
2198.921 |
|
Net
worth |
1807.495 |
2256.211 |
|
|
|
|
|
long-term borrowings |
0.158 |
0.000 |
|
Short term borrowings |
76.580 |
54.803 |
|
Total
borrowings |
76.738 |
54.803 |
|
Debt/Equity
ratio |
0.042 |
0.024 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one year |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BUSINESS PERFORMANCE:
During the year, Company has achieved a significant growth of about 25% in turnover compared to last year. This is evidenced in the attached financials and relevant schedules for the year 2012. The directors are confident that the company continues to see healthy growth in its activity.
The Company’s policy has always been to share its growth with its shareholders. In view of the positive performance and encouraging financial results of the Company for the year January, 12 to December’ 12, the Directors are pleased to recommend a dividend of 30% per cent ie. Rs 30 per equity share of Rs 100 (Previous Year: 20%). This will result in a payment of Rs 17.187 Millions as dividend and Rs.2.920 Millions as Corporate dividend tax.
BUSINESS OPERATIONS:
The Subject is primarily engaged in the business of processing and selling of plastic ophthalmic lenses to the opticians. The company intends to focus on developing plastic lens market by developing the distributor’s network and by providing high quality products and services. Your directors are certain that the above initiatives would enable the Company to increase its share in a growing ophthalmic industry and make substantial gains in the years to come.
FIXED ASSETS
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Leasehold Improvements
Intangible Assets
- Computer Software
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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
65 |
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.