MIRA INFORM REPORT
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
DYSTAR INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
R-855, TTC Industrial Area, Rable, P O Ghansoli, Navi Mumbai – 400701,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
20.11.1995 |
|
|
|
|
Com. Reg. No.: |
11-094620 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.342.090 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24114MH1995PTC094620 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03254G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD0295N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and trader of textile dyes, inorganic chemicals etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Reserves of the company is low. However, the rating takes into consideration company’s improved
financial risk profile and decent profitability achieved from its operation
during financial year 2012. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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.
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
Management Non Co-operative (91-252-40349000)
LOCATIONS
|
Registered Office : |
R-855, TTC Industrial Area, Rable, P O Ghansoli, Navi Mumbai – 400701,
Maharashtra, India |
|
Tel. No.: |
91-252-40349000 |
|
Fax No.: |
91-22- 61419010 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 Sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory 1 : |
Plot No. 3002, S/A GIDC, Ankleshwar – 393002, Gujarat, India |
|
Tel. No.: |
91-2646-22101518 |
DIRECTORS
AS ON 22.04.2013
|
Name : |
Mr. Rajesh Balakrisnan |
|
Designation : |
Managing Director |
|
Address : |
C/6, |
|
Date of Birth/Age : |
29.12.1969 |
|
Date of Appointment : |
10.03.2009 |
|
DIN No.: |
02538698 |
|
|
|
|
Name : |
Mr. Sureshkumar Savajibhai Gondalia |
|
Designation : |
Director |
|
Address : |
B/7, Ruchi Apartments, |
|
Date of Birth/Age : |
29.03.1976 |
|
Date of Appointment : |
25.06.2010 |
|
DIN No.: |
00006687 |
|
|
|
|
Name : |
Mr. Yalin Chen Xu |
|
Designation : |
Director |
|
Address : |
929 Bukit Timah Road, #03-21,
Singapore 589642 |
|
Date of Birth/Age : |
19.09.1965 |
|
Date of Appointment : |
22.06.2012 |
|
DIN No.: |
02147753 |
|
|
|
|
Name : |
Mr. Yagnesh Kishorchandra Mankad |
|
Designation : |
Additional Director |
|
Address : |
H/4, Samip Apartments, Near Shreyas Railway Crossing, Ambawadi,
Ahmedabad – 380015, |
|
Date of Birth/Age : |
16.03.1955 |
|
Date of Appointment : |
03.09.2010 |
|
DIN No.: |
03204060 |
|
|
|
|
Name : |
Mr. Sheng Chang |
|
Designation : |
Director |
|
Address : |
No.20, Zheda Road, Xihu District, Hangzhou City, 310021 |
|
Date of Birth/Age : |
17.03.1974 |
|
Date of Appointment : |
22.06.2012 |
|
DIN No.: |
03610804 |
KEY EXECUTIVES
|
Name : |
Mr. Ramamurthi Gopalakrishnan Chittur |
|
Designation : |
Secretary |
|
Address : |
Flat No. A / 2, Sahavasi Co-operative Housing Society Limited, Sector
4, Vashi – 400703, Maharashtra |
|
Date of Birth/Age : |
03.12.1958 |
|
Date of Appointment : |
25.09.1996 |
|
Pan No.: |
AAIPG0491K |
MAJOR SHAREHOLDERS
AS ON 22.04.2013
|
Names of Shareholders |
No. of Shares |
|
DyStar Global Holdings (Singapore) Pte Limited |
3420899 |
|
Dystar Singapore Pte, India |
1 |
|
Total |
3420900 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and trader of textile dyes, inorganic chemicals etc. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
State Bank of India, Mainzer Landstrabe 61, Frankfurt – 60329, Germany
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
1st Floor, Apollo mills Compound, N. M. Joshi Marg, Mahalakshmi,
Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39836000 |
|
Pan No.: |
AAKFB4397F |
|
|
|
|
Ultimate holding
company : |
·
Kiri Industries Limited upto 26 December 2012 ·
Zhejiang Longsheng Group Co. Limited with effect
from 26 December 2012 |
|
|
·
|
|
Holding entity : |
·
DyStar Colours Distribution GmbH upto 28 December
2011. ·
DyStar Global Holdings (Singapore) Pte Limited
(formerly known as Kiri Holding Singapore Private Limited) w.e.f 28 December
2011 |
|
|
·
|
|
Subsidiaries : |
·
Texanlab Laboratories Private Limited |
|
|
|
|
Fellow Subsidiaries : |
·
Dystar Colours Distribution GmbH ·
DyStar Italia S.r.l. ·
DyStar Pakistan Private Limited ·
DyStar Singapore Pte. Limited ·
DyStar Textilfarben GmbH ·
DyStar (Shanghai) Trading Co. Limited ·
DyStar China Limited ·
Lonsen Kiri Chemical Industries limited ·
DyStar L.P. ·
DyStar Kimya Sanayi ve Ticaret Limited ·
DyStar Ind.ustria e Commercio de Produtos
Quimicos Ltda. ·
Dystar Boehme Africa (Pty) Limited ·
DyStar de Mexico S. de R.L. de C.V. |
CAPITAL STRUCTURE
AS ON 22.04.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3425000 |
Equity Shares |
Rs.100/- each |
Rs.342.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3420900 |
Equity Shares |
Rs.100/- each |
Rs.342.090 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 |
|
342.090 |
342.090 |
|
(b) Reserves & Surplus |
|
275.622 |
192.748 |
|
(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) |
|
617.712 |
534.838 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
73.680 |
32.475 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
31.973 |
30.468 |
|
(d) long-term
provisions |
|
4.472 |
4.895 |
|
Total Non-current
Liabilities (3) |
|
110.125 |
67.838 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
218.072 |
165.117 |
|
(c) Other
current liabilities |
|
82.536 |
189.681 |
|
(d) Short-term
provisions |
|
9.178 |
6.174 |
|
Total Current
Liabilities (4) |
|
309.786 |
360.972 |
|
|
|
|
|
|
TOTAL |
|
1,037.623 |
963.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
136.526 |
140.573 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
5.353 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
293.730 |
193.730 |
|
(c) Deferred tax assets (net) |
|
4.780 |
9.491 |
|
(d) Long-term Loan and Advances |
|
67.379 |
71.719 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
502.415 |
420.866 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
186.719 |
119.691 |
|
(c) Trade
receivables |
|
269.249 |
261.680 |
|
(d) Cash
and cash equivalents |
|
55.982 |
38.777 |
|
(e)
Short-term loans and advances |
|
23.135 |
122.422 |
|
(f) Other
current assets |
|
0.123 |
0.212 |
|
Total
Current Assets |
|
535.208 |
542.782 |
|
|
|
|
|
|
TOTAL |
|
1,037.623 |
963.648 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
342.090 |
|
|
2] Share Application Money |
|
|
0.00 |
|
|
3] Reserves & Surplus |
|
|
162.512 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
504.602 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
8.602 |
|
|
2] Unsecured Loans |
|
|
166.554 |
|
|
TOTAL BORROWING |
|
|
175.156 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.361 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
680.119 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
155.439 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
193.730 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
158.434
|
|
|
Sundry Debtors |
|
|
206.307
|
|
|
Cash & Bank Balances |
|
|
12.860
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
197.429
|
|
Total
Current Assets |
|
|
575.030
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
195.045
|
|
|
Other Current Liabilities |
|
|
36.859
|
|
|
Provisions |
|
|
12.176
|
|
Total
Current Liabilities |
|
|
244.080
|
|
|
Net Current Assets |
|
|
330.950
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
680.119 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, EXCHANGE DIFFERENCES, TAX, DEPRECIATION AND AMORTISATION |
168.043 |
111.954 |
166.387 |
|
|
|
|
|
|
|
|
|
|
FOREIGN
EXCHANGE LOSS (GAIN) |
0.875 |
25.819 |
(18.805) |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
167.168 |
86.135 |
185.192 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.608 |
7.882 |
7.166 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
164.560 |
78.253 |
178.026 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
27.328 |
26.557 |
27.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
137.232 |
51.696 |
150.881 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
54.358 |
21.455 |
61.552 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
82.874 |
30.241 |
89.329 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
96.914 |
|
|
|
Other Earnings |
|
|
29.003 |
|
|
TOTAL EARNINGS |
114.099 |
75.639 |
125.917 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.23 |
NA |
26.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.57 |
6.85 |
20.66
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.10 |
0.30
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.12 |
0.06 |
0.83
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.50 |
2.36
|
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 |
342.090 |
342.090 |
|
Reserves & Surplus |
192.748 |
275.622 |
|
Net
worth |
534.838 |
617.712 |
|
|
|
|
|
long-term borrowings |
32.475 |
73.680 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
32.475 |
73.680 |
|
Debt/Equity
ratio |
0.061 |
0.119 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT:
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
Current maturities of long-term debt |
36.840 |
157.118 |
NA |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
No |
|
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 |
NOTE: Registered office
address of the company has been shifted from Marwah House, Ground Floor,
Krishnalal Marwah Marg, Saki Vihar Road, Saki Naka, Andheri (East), Mumbai –
400072, Maharashtra, India to the present address w.e.f. 17.10.2008
OPERATIONS:
During the year,
the Indian economy was not very buoyant and exports of textiles showed
significant decline. Despite this the Company was able to record a very good
turnover in view of its brand image and demonstrated ecological advantages and
cost benefits over those of its competitors.
The local sales
(net of excise duty and allowances) for the year 2012 were Rs. 1316 mio against
Rs.1014 mio for the year 2011. However, the indent sales, in respect of which
the Company acts as an indenting agent, increased substantially to Rs. 1227 mio
for the year 2012 against Rs.807 mio for the year 2011, a growth of 52%.
The Company
registered its highest profit since inception of Rs. 168 mio before exchange
differences, depreciation, interest and tax, as compared to the profit of Rs.
112 mio in 2010 mainly due to steep increase in input costs.
After providing
for interest and depreciation and tax provisions (including deferred tax), the
net profit of carried to the Balance Sheet amounted to
Rs.83 mio for the
year 2012 against a profit of Rs. 30 mio for the year 2011.
FINANCE:
During the year,
the Company continued to register high profits and generate cash profits.
During the year, the Company has repaid Euro 1.20 mio on 22nd July 2012 wholly
out of its internal accruals and a further amount of Euro 250 thousand on 1st
January 2013 in accordance with the approval of Reserve Bank of India.
UNSECURED LOANS:
|
Particulars |
31.12.2012 Rs. In Millions |
31.12.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
Advances from Related Parties |
73.680 |
32.475 |
|
|
|
|
|
Total |
73.680 |
32.475 |
NO CHARGES EXIST
FOR COMPANY.
FIXED ASSETS:
·
Goodwill
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Plant and Machinery
·
Leasehold Improvements
·
Lab Equipments
·
Vehicles
·
Trade Mark
·
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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.