MIRA
INFORM REPORT
|
Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANSTAR BIOPOLYMERS LIMITED |
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Formerly Known
As : |
SANTOSH MAIZE PORDUCTS LIMITED |
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Registered
Office : |
"Sanstar House" Near Parmal Under Bridge, Opposite - Suvidha
Shopping Centre, Paldi, Ahmedabad
– 380007, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
22.03.1983 |
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Com. Reg. No.: |
04-009047 |
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Capital
Investment / Paid-up Capital : |
Rs.30.848 Millions |
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CIN No.: [Company Identification
No.] |
L51100GJ1983PLC009047 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS01522D |
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PAN No.: [Permanent Account No.] |
AACCS7445M |
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Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Starches. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 930000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 : |
Mr. Arban Mehta |
|
Designation : |
Account Department |
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Contact No.: |
91-79-26651819 |
|
Date : |
19.04.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
"Sanstar House" Near Parmal Under Bridge, Opposite - Suvidha
Shopping Centre, Paldi, Ahmedabad
– 380007, Gujarat, India |
|
Tel. No.: |
91-79-26651819 / 20 / 21 |
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Fax No.: |
91-79-26651822 |
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E-Mail : |
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Website : |
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Factory 1 : |
“Sanstardham”
Sukhpar Road, Post – Sukhpar
– 370020 Village – Morgar, Taluka
– Bhachau, District – Kutch,
Gujarat (India) |
|
Tel. No.: |
91-2837-285887 |
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Fax No.: |
91-2837-285880 / 1 |
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Factory 2 : |
Karvand, Shirur, Dhule, Maharashtra, India |
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Mumbai Office : |
7B/37, 10th Floor, Navjivan
Society, Lamington Road, Mumbai – 400008. Maharashtra,
India |
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Tel. No.: |
91-22-23080510 |
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Fax No.: |
91-22-23083283 |
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Middle East
Marketing Office : |
Sanstar Bio- Polymers FZC, Dubai, UAE |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Gautamchand Chowdhary
Sohanlal |
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Designation : |
Managing Director |
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Address : |
13, Mahavir Society, Mahalaxmi Char Rasta, Paldi, Ahmedabad – 380007, Gujarat, India |
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Date of Birth/Age : |
25.12.1957 |
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Qualification : |
Graduate |
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Date of Appointment : |
27.09.1985 |
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PAN No.: |
AAXPC6655J |
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DIN No.: |
00196397 |
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Other Directorship:
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Name : |
Mr. Sambhav Gautamchand
Chowdhary |
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Designation : |
Director |
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Address : |
13, Mahavir Society, Mahalaxmi Char Rasta, Paldi, Ahmedabad – 380007, Gujarat, India |
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Date of Birth/Age : |
23.06.1983 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.03.2011 |
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PAN No.: |
ADDPC9929Q |
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DIN No.: |
01370802 |
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Other Directorship:
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Name : |
Mr. Shreyans Gautamchand
Chowdary |
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Designation : |
Director |
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Address : |
13, Mahavir Society, Mahalaxmi Char Rasta, Paldi, Ahmedabad – 380007, Gujarat, India |
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Date of Birth/Age : |
18.03.1985 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.03.2011 |
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PAN No.: |
AEEPC8072J |
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DIN No.: |
01759527 |
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Other Directorship:
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Name : |
Mr. Rahul Rajmal Ranka |
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Designation : |
Director |
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Address : |
3-4-221, Flat No. -302, Lingampally Cross
Road, Kachiguda, Barkatpura,
Hyderabad – 500034, Andhra Pradesh, India
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Date of Birth/Age : |
24.06.1986 |
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Date of Appointment : |
19.01.2013 |
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DIN No.: |
06501681 |
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KEY EXECUTIVES
|
Name : |
Mr. dinesh singh jhala |
|
Designation : |
Secretary |
|
Address : |
C-4, Krishna Gokul Apartment, Behind Dena
Bank, Bhimjipura, Nava Wadaj,
Ahmedabad – 380013, Gujarat, India |
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Date of Birth/Age : |
13.02.1986 |
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Date of Appointment : |
19.01.2013 |
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PAN No.: |
AVKPJ5803B |
MAJOR SHAREHOLDERS
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
60.51 |
|
Directors or relatives of Directors |
37.96 |
|
Other top fifty shareholders |
0.90 |
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Others |
0.63 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Starches. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
Karur Vysya Bank, Sakar-VII, Ground Floor, Near Nehru Bridge, Ashram Road, Ahmedabad – 380009, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Mehta Lodha and Company Chartered Accountants |
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Address : |
105 Sakar- I 1st Floor, Near Gandhigram Railway Station, Ashram Road, Ahmedabad, Gujarat, India |
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PAN No.: |
AACFM6805H |
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Enterprises which
are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Sambhav Starch Products Private Limited CIN No.: U15419GJ1984PTC007188 · Sanstar Limited CIN No.:U15400GJ1982PLC072555 |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3084750 |
Equity Shares |
Rs.10/- each |
Rs.30.848 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 |
30.848 |
14.848 |
14.848 |
|
(b) Reserves & Surplus |
200.982 |
175.525 |
152.944 |
|
(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) |
231.830 |
190.373 |
167.792 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
296.083 |
284.926 |
1.951 |
|
(b) Deferred tax liabilities (Net) |
41.786 |
40.059 |
36.899 |
|
(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) |
337.869 |
324.985 |
38.850 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
131.187 |
97.214 |
267.411 |
|
(b) Trade payables |
69.090 |
65.350 |
64.232 |
|
(c) Other current
liabilities |
45.293 |
59.820 |
18.003 |
|
(d) Short-term provisions |
12.898 |
11.893 |
12.894 |
|
Total Current Liabilities (4) |
258.468 |
234.277 |
362.540 |
|
|
|
|
|
|
TOTAL |
828.167 |
749.635 |
569.182 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
360.075 |
354.586 |
274.409 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
24.365 |
34.789 |
23.472 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.069 |
5.069 |
1.222 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.402 |
7.219 |
7.219 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
398.911 |
401.663 |
306.322 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
104.751 |
169.201 |
130.169 |
|
(c) Trade receivables |
255.127 |
116.332 |
84.139 |
|
(d) Cash and cash
equivalents |
12.442 |
8.460 |
7.868 |
|
(e) Short-term loans and
advances |
56.936 |
53.979 |
40.684 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
429.256 |
347.972 |
262.860 |
|
|
|
|
|
|
TOTAL |
828.167 |
749.635 |
569.182 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1,886.244 |
1,254.677 |
1,188.308 |
|
|
|
|
Other Income |
2.840 |
4.392 |
10.035 |
|
|
|
|
TOTAL (A) |
1,889.084 |
1,259.069 |
1,198.343 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1,282.884 |
821.487 |
802.107 |
|
|
|
|
Purchase of Stock-in-trade |
1.296 |
0.000 |
0.000 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(9.707) |
(17.062) |
(9.390) |
|
|
|
|
Employee Benefits Expenses |
66.053 |
43.156 |
32.953 |
|
|
|
|
Other Expenses |
416.762 |
260.767 |
292.338 |
|
|
|
|
Expenditure on production, transportation and other expenditure pertaining to E&P activities |
29.153 |
52.521 |
0.000 |
|
|
|
|
TOTAL (B) |
1,786.441 |
1,160.869 |
1,118.008 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
102.643 |
98.200 |
80.335 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
17.737 |
24.944 |
13.287 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
84.906 |
73.256 |
67.048 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
51.096 |
40.385 |
36.110 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
33.810 |
32.871 |
30.938 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
8.753 |
9.430 |
10.401 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
25.057 |
23.441 |
20.537 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.267 |
6.686 |
17.012 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
25.000 |
25.000 |
30.000 |
|
|
|
|
Proposed Dividend |
0.000 |
0.861 |
0.863 |
|
|
|
BALANCE CARRIED TO
THE B/S |
4.324 |
4.267 |
6.686 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
952.179 |
8.536 |
0.000 |
|
|
|
TOTAL EARNINGS |
952.179 |
8.536 |
0.000 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
11.064 |
4.208 |
64.373 |
|
|
|
|
Stores & Spares |
1.042 |
0.267 |
0.439 |
|
|
|
|
Capital Goods |
13.077 |
15.489 |
0.000 |
|
|
|
TOTAL IMPORTS |
25.183 |
19.964 |
64.812 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
15.80 |
15.79 |
13.83 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.33 |
1.86 |
1.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.79 |
2.62 |
2.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.23 |
4.63 |
5.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.17 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.84 |
2.01 |
1.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66 |
1.49 |
0.73 |
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 |
14.848 |
14.848 |
30.848 |
|
Reserves & Surplus |
152.944 |
175.525 |
200.982 |
|
Net
worth |
167.792 |
190.373 |
231.830 |
|
|
|
|
|
|
long-term borrowings |
1.951 |
284.926 |
296.083 |
|
Short term borrowings |
267.411 |
97.214 |
131.187 |
|
Total
borrowings |
269.362 |
382.140 |
427.270 |
|
Debt/Equity
ratio |
1.605 |
2.007 |
1.843 |
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 |
1,188.308 |
1,254.677 |
1,886.244 |
|
|
|
5.585 |
50.337 |
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
|
1,188.308 |
1,254.677 |
1,886.244 |
|
Profit |
20.537 |
23.441 |
25.057 |
|
|
1.73% |
1.87% |
1.33% |
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Deferred payment liabilities |
177.315 |
148.970 |
|
Total |
177.315 |
148.970 |
CORPORATE
INFORMATION
The Company is a public company domiciled in India and incorporated
under provisions of the Companies Act, 1956 .During the Year, the name of the company
has changed from Santosh Starch Limited to Sanstar Bio polymers Limited.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80008933 |
07/03/2013 * |
440,254,500.00 |
KARUR VYSYA BANK |
Sakar-Vii, Ground Floor, Nr. Nehru Bridge, Ashram Road, Ahmedabad, Gujarat - 380009, India |
B72551773 |
|
2 |
90100985 |
11/01/2005 * |
247,500,000.00 |
The Karur Vysya Bank Limited |
Ashram Road, 'Motilal Centre', Ahmedabad, Gujarat- 380009, India |
- |
*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.60.33 |
|
|
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
48 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.