MIRA INFORM REPORT
|
Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEYER ORGANICS PRIVATE LIMITED |
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|
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Registered
Office : |
A-177, Road No. 16 (Z), Wagle Industrial Estate, Thane - 400604,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
07.02.1981 |
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Com. Reg. No.: |
11-023845 |
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Capital
Investment / Paid-up Capital : |
Rs.4.939 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1981PTC023845 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM07443C |
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PAN No.: [Permanent Account No.] |
AABCM9346B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture of Pharmaceutical Formulation |
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No. of Employees
: |
Not Available (We tried to confirm the number of employees but no one
is ready to part any information from the company management). |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
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 4600000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Latest financials of 2013 is not available with government department. As per financials of 2012, fundamentals of the company is decent.
Financials position of the company is strong and healthy. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered for normal for business dealing 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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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.
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 : |
Ms. Saruchi Athavle |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-25817000 / 7035 |
|
Date : |
18.04.2014 |
LOCATIONS
|
Registered Office : |
A-177, Road No. 16 (Z), Wagle Industrial Estate, Thane - 400604,
Maharashtra, India |
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Tel. No.: |
91-22-25817000 / 7035 |
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Fax No.: |
91-22-25817002 / 25817030 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office /Administrative Office : |
A-303, Road No. 31/32, Wagle Industrial Estate, Thane West, Thane -
400601, Maharashtra, India |
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Tel. No.: |
91-22-25817000 |
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Fax No.: |
91-22-25817002 |
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E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mrs. Pushpa Kalsey |
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Designation : |
Director |
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Address : |
No. 42, fortune vally, 13/2, hariyanpalya, dasara halli, village
hebbi, Bangalore – 560024, Karnataka, India |
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Date of Birth/Age : |
11.07.1942 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
01711674 |
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Other Directorship:
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Name : |
Mrs. Uma Paul Kalekar |
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Designation : |
Director |
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Address : |
203, Iris, C Unati Garden Opposite Devdaya Nagar, Pokharan RDI,
Thane-401606, Maharashtra, India |
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Date of Birth/Age : |
27.01.1967 |
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Date of Appointment : |
14.07.2006 |
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DIN No.: |
01725745 |
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Other Directorship:
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Name : |
Mr. Surinder Mohini Bawa |
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Designation : |
Director |
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Address : |
Guru Kripa House, 01 Jalandhar Road, Jalandhar – 144601, Punjab, India |
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Date of Birth/Age : |
14.07.1935 |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
01741551 |
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Other Directorship:
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Name : |
Mrs. Rohini K Lalwani |
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Designation : |
Director |
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Address : |
1, Nariman Building, M Karve Road, Opposite Cooperage Ground,
Mumbai-400021, Maharashtra, India |
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Date of Birth/Age : |
21.08.1960 |
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Date of Appointment : |
08.07.2004 |
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DIN No.: |
02180066 |
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KEY EXECUTIVES
|
Name : |
Ms. Saruchi Athavle |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Lalwani T Kartarsingh |
|
94956 |
|
Lalwani Tej Kartarsingh |
|
298320 |
|
Lalwani K Ajit |
|
298320 |
|
Omega Meyer Limited, Island |
|
122162 |
|
Lalwanin K Rohini |
|
30000 |
|
Pushpa Kalsey |
|
70 |
|
Bikra Kalsey |
|
70 |
|
Total |
|
843898 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
14.47 |
|
Directors or relatives of Directors |
85.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Pharmaceutical Formulation. |
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|
Products : |
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PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Pharmaceutical Formulations |
|
|
|
Tablets and Capsules |
(No. In lakhs) |
9332.08 |
|
Syrup |
(in litres) |
15,66,264.27 |
|
Cream/Granules |
(in kgs.) |
42,045.41 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available (We tried to confirm the number of employees but no one
is ready to part any information from the company management). |
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|
|
|
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Bankers : |
Citi Bank N.A, Bandra Kurla Complex, G-Block, Bandra (East),
Mumbai-400051, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
GPS and Associates Chartered Accountants |
|
Address : |
A-1, Sindhi Niwas, Sitaladevi Temple Road, Mahim, Mumbai - 400016,
Maharashtra, India |
|
Tel. No.: |
91-22-24468959 / 24446688 / 24441348 / 24440777 |
|
Fax No.: |
91-22-24466455 |
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E-Mail : |
|
|
PAN.: |
AADFG4422H |
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|
|
|
Associates : |
CIN No.: U85110MH1996PTC232761 |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
843898 |
Equity Shares |
Rs.10/- each |
Rs.8.439 Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
493898 |
Equity Shares |
Rs.10/- each |
Rs.4.939
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 |
|
4.939 |
4.999 |
|
(b) Reserves & Surplus |
|
1,143.687 |
722.523 |
|
(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) |
|
1,148.626 |
727.522 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
26.776 |
21.073 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
26.776 |
21.073 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
43.016 |
59.405 |
|
(b) Trade
payables |
|
285.389 |
401.865 |
|
(c) Other
current liabilities |
|
38.944 |
37.415 |
|
(d) Short-term
provisions |
|
131.002 |
70.583 |
|
Total Current
Liabilities (4) |
|
498.351 |
569.268 |
|
|
|
|
|
|
TOTAL |
|
1,673.753 |
1,317.863 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
321.359 |
301.511 |
|
(ii)
Intangible Assets |
|
2.962 |
3.941 |
|
(iii)
Capital work-in-progress |
|
0.867 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.049 |
0.049 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
325.237 |
305.501 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
396.498 |
432.224 |
|
(c) Trade
receivables |
|
333.614 |
275.119 |
|
(d) Cash
and cash equivalents |
|
526.415 |
210.067 |
|
(e)
Short-term loans and advances |
|
44.711 |
43.343 |
|
(f) Other
current assets |
|
47.278 |
51.609 |
|
Total
Current Assets |
|
1,348.516 |
1,012.362 |
|
|
|
|
|
|
TOTAL |
|
1,673.753 |
1,317.863 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.999 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
522.610 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
527.609 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
56.836 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
56.836 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
584.445 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
236.738 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.059 |
|
|
DEFERRED TAX ASSETS |
|
|
7.639 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
246.353
|
|
|
Sundry Debtors |
|
|
294.724
|
|
|
Cash & Bank Balances |
|
|
92.214
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
65.840
|
|
Total
Current Assets |
|
|
699.131 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
188.280 |
|
|
Other Current Liabilities |
|
|
163.117
|
|
|
Provisions |
|
|
7.725
|
|
Total
Current Liabilities |
|
|
359.122
|
|
|
Net Current Assets |
|
|
340.009
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
584.445 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
3115.804 |
2660.301 |
2103.314 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
|
EXPENSES |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
690.286 |
373.926 |
292.828 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
3.428 |
4.445 |
7.013 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
686.858 |
369.481 |
285.815 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
28.314 |
23.883 |
18.145 |
||
|
|
|
|
|
|
||
|
|
Prior Period
Expenses |
0.000 |
0.301 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
658.544 |
345.297 |
267.670 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
219.695 |
139.555 |
92.030 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
438.849 |
345.297 |
267.670 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
43.944 |
19.000 |
21.600 |
|
|
|
BALANCE CARRIED
TO THE B/S |
394.905 |
186.742 |
108.443 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Manufactured goods Sale |
658.709 |
583.081 |
428.704 |
|
|
|
|
Trading Goods Sale |
344.711 |
311.596 |
293.466 |
|
|
|
TOTAL EARNINGS |
1003.420 |
894.677 |
722.170 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
520.03 |
411.57 |
359.31 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
21.14 |
12.98 |
12.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
39.37 |
26.20 |
20.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.57 |
0.47 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.08 |
0.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.71 |
1.78 |
1.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs. In
Millions |
|
Share Capital |
4.999 |
4.999 |
4.939 |
|
Reserves & Surplus |
522.610 |
722.523 |
1143.687 |
|
Net
worth |
527.609 |
727.522 |
1148.626 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
56.836 |
59.405 |
43.016 |
|
Total
borrowings |
56.836 |
59.405 |
43.016 |
|
Debt/Equity
ratio |
0.108 |
0.082 |
0.037 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
2,103.314 |
2,660.301 |
3,115.804 |
|
|
|
26.481 |
17.122 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
2,103.314 |
2,660.301 |
3,115.804 |
|
Profit |
267.670 |
345.297 |
438.849 |
|
|
12.73% |
12.98% |
14.08% |
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
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 |
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 |
No |
PERFORMANCE AND
GROWTH:
The Company has shown a good performance during the year under review
and the total sales (Domestic and Exports) had increased from Rs.2656.402
Millions to Rs.3111.102 Millions, registering an increase of 17% in sales.
The Company achieved a net profit of Rs.614.370 Millions as compared to
previous year Rs.345.297 Millions, There is rise in Net profit ratio from 12.86
% to 20.96%. The Export turnover was Rs.10034.20 Lacs as compared to the
previous year of Rs.894.677 Millions.
The Company attributes the growth in sales and profit due to The
innovative skills and strategic planning implemented by the Marketing and sales
personnel in order to achieve the best performance in the highly competitive
pharmaceutical market. Discontinuation of Royalty and Agency Commission Gain in
Foreign Exchange Increase in Interest income on Fixed Deposits.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10068376 |
12/09/2007 |
20,000,000.00 |
CITIBANK N. A. |
Citigroup Centre, Bandra Kurla Complex, G Block Bandra East, Mumbai, Maharashtra - 400051, India |
A23054091 |
|
2 |
10068380 |
06/08/2007 |
20,000,000.00 |
CITIBANK N. A. |
Citigroup Centre, Bandra Kurla Complex, G Block Bandra East, Mumbai, Maharashtra - 400051, India |
A23103005 |
|
3 |
10007119 |
26/04/2006 |
10,000,000.00 |
CITIBANK N. A. |
Citigroup Centre, Bandra Kurla Complex, G Block Bandra East, Mumbai, Maharashtra - 400051, India |
A00600700 |
|
4 |
90194458 |
17/05/2007 * |
17,500,000.00 |
CITIBANK N. A. |
Citigroup Centre, Bandra Kurla Complex, G Block Bandra East, Mumbai, Maharashtra - 400051, India |
A25240235 |
|
5 |
90148203 |
25/01/2007 * |
80,000,000.00 |
CITIBANK N. A. |
Citigroup Centre, Bandra Kurla Complex, G Block Bandra East, Mumbai, Maharashtra - 400051, India |
A12278156 |
|
6 |
90144378 |
29/07/2008 * |
162,500,000.00 |
CITIBANK N. A. |
Citigroup Centre, Bandra Kurla Complex, G Block Bandra East, Mumbai, Maharashtra - 400051, India |
A43391127 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
58 |
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.