MIRA
INFORM REPORT
|
Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ORGANIC INDUSTRIES PRIVATE LIMITED (w.e.f. 06.03.2012) |
|
|
|
|
Formerly Known
As : |
ORGANIC INDUSTRIES LIMITED (w.e.f. 20.07.2007) ORGANIC PLASTICS LIMITED (w.e.f. 27.06.2007) ORGANIC PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-504, Pratik Industrial Estate, Near Forts Hospital, Mulund – Goregaon
Link Road, Bhandup West, Mumbai- 400078, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.03.1997 |
|
|
|
|
Com. Reg. No.: |
11-106819 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.99.390 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25201MH1997PTC106819 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO02097E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO3738N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of
Plastic Containers, Injection Moulded components and chemicals. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has taken huge external borrowing, which acts as threatening
to the liquidity positon of the company. A reserves of the company is low. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE
LOCATIONS
|
Registered Office / Corporate Office:: |
B-504, Pratik Industrial Estate, Near Forts Hospital, Mulund – Goregaon
Link Road, Bhandup West, Mumbai- 400078, Maharashtra, India |
|
Tel. No.: |
91-22-41622828 (100 Lines) / 25662146 |
|
Fax No.: |
91-22-41622803 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
5th Floor, B Wing, Mulund Goregaon Link Road, Bhandup
(West), Mumbai- 400078, Maharashtra, India |
|
Tel. No.: |
91-22-41622828 |
|
|
|
|
Factory 1 : |
Plot No.9, |
|
Tel. No.: |
91-2527-272161/ 272164 |
|
|
91-2527-272983 |
|
E-Mail : |
|
|
|
|
|
Regional
Offices: |
Tel No: (91 - 80) 2334
6772 / 6773 / 6774 Fax No: (91 - 80) 2334
6774 Email : oppblr@vsnl.net Silvassa
: Tel No : 260-2682117 Fax No: 260-2682032 Silvassa I 22, Government Industrial Estate, Phase II, Piparia, Silvassa –
390230, Dadar and Nagar Haveli, India Silvassa II S/No. 910/7/2 Village Amli-Dockmardi Behind Recolin, Silvassa –
396230, Dadar and Nagar Haveli, India Bangalore
S.No.28/1, 28/2, Baroda: Gujarat, India Fax No: 0265-3046970 Chennai: 600029, Tamilnadu, India Dahej S/ 163, GIDC, Dahej, Taluka Vaghru, District Bharuch – 392 130, |
|
|
|
|
Branch Office : |
74, 1st Main, |
|
Tel. No.: |
91-80-23346772 / 6773 / 6774 |
|
Fax No.: |
91-80-23346774 |
|
E-Mail : |
DIRECTORS
As on 20.09.2013
|
Name : |
Mr. Adish Anand Shetty |
|
Designation : |
Director |
|
Address : |
1801, Odyssey I CHS Limited, |
|
Date of Birth/Age : |
02.09.1988 |
|
Date of Appointment : |
16.03.2007 |
|
DIN No.: |
01210843 |
|
PAN No.: |
BINPS1229P |
|
|
|
|
Name : |
Mr. Anand Monappa Shetty |
|
Designation : |
Managing Director |
|
Address : |
1801, Odyssey I CHS Limited, |
|
Date of Birth/Age : |
08.01.1953 |
|
Date of Appointment : |
28.03.1997 |
|
DIN No.: |
01287510 |
|
PAN No.: |
AAOPS6358R |
|
|
|
|
Name : |
Mr. Pravir Anand Shetty |
|
Designation : |
Director |
|
Address : |
1801, Odyssey I CHS Limited, |
|
Date of Birth/Age : |
21.01.1984 |
|
Date of Appointment : |
28.06.2002 |
|
DIN No.: |
01287484 |
|
PAN No.: |
AVLPS1934K |
|
|
|
|
Name : |
Mrs. Shashirekha Anand Shetty |
|
Designation : |
Director |
|
Address : |
1801, Odyssey I CHS Limited, |
|
Date of Birth/Age : |
01.06.1959 |
|
Date of Appointment : |
17.02.1997 |
|
DIN No.: |
02135741 |
|
PAN No.: |
AAOPS6360F |
KEY EXECUTIVE
|
Name : |
Mr. Singh |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2013
|
Names of Shareholders |
No. of Shares |
|
Adish Anand Shetty |
1321600 |
|
Anand Monappa Shetty |
5559000 |
|
A.M. Shetty (HUF) |
50900 |
|
Kushal Shetty |
1000 |
|
Pravir Anand Shetty |
1497500 |
|
Shashirekha Anand Shetty |
1443500 |
|
S.M. Shetty |
65500 |
|
Total |
9939000 |
Equity Share Break up (Percentage of Total Equity)
As on 20.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.48 |
|
Other |
0.52 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
Plastic Containers, Injection Moulded components and chemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
The Shamrao Vithal Co-Operative Bank Limited, G-1, 6, 7 and 8, Ganesh
Krupa, RHB Road, Mulund (West), Mumbai – 400 080, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
Bajaj Finance Limited, Akurdi Pune, Mumbai Pune Road, Pune – 411035,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Shetty Sadashiva Babu Chartered Accountants |
|
Address : |
1 2 , Jyoti Bhauhagh, Gokhale Road, Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AALPS9113P |
|
|
|
|
Associates: |
· Pravir Polymers Private Limited, India [U25200MH1988PTC048174] ·
Plenco Closures Private Limited, India
[U29195MH2003PTC141823] |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives: |
· Trimurti Polymers Private Limited, India [U51909GJ2001PTC040117] |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9939000 |
Equity Shares |
Rs.10/- each |
Rs. 99.390
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 |
99.390 |
99.390 |
99.390 |
|
(b) Reserves & Surplus |
45.844 |
28.624 |
33.130 |
|
(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) |
145.234 |
128.014 |
132.520 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
346.947 |
429.580 |
464.626 |
|
(b) Deferred tax liabilities
(Net) |
18.960 |
12.871 |
11.219 |
|
(c) Other long term
liabilities |
47.492 |
41.024 |
34.923 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
413.399 |
483.475 |
510.768 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
234.296 |
231.169 |
183.008 |
|
(b) Trade payables |
185.415 |
154.988 |
141.449 |
|
(c) Other current liabilities |
50.191 |
51.271 |
44.430 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.050 |
|
Total
Current Liabilities (4) |
469.902 |
437.428 |
368.937 |
|
|
|
|
|
|
TOTAL |
1028.535 |
1048.917 |
1012.225 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
489.577 |
513.585 |
543.218 |
|
(ii) Intangible Assets |
0.600 |
0.800 |
1.000 |
|
(iii) Capital work-in-progress |
7.548 |
7.317 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11.938 |
11.938 |
12.038 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.288 |
17.444 |
17.517 |
|
(e) Other Non-current assets |
14.520 |
11.146 |
24.243 |
|
Total
Non-Current Assets |
531.471 |
562.230 |
598.016 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
205.583 |
207.875 |
211.511 |
|
(c) Trade receivables |
255.583 |
243.960 |
168.853 |
|
(d) Cash and cash equivalents |
20.328 |
16.708 |
9.834 |
|
(e) Short-term loans and
advances |
5.357 |
4.281 |
2.907 |
|
(f) Other current assets |
10.213 |
13.863 |
21.104 |
|
Total
Current Assets |
497.064 |
486.687 |
414.209 |
|
|
|
|
|
|
TOTAL |
1028.535 |
1048.917 |
1012.225 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
1028.983 |
|
|
Other Income |
|
|
16.232 |
|
|
TOTAL
(A) |
NA |
NA |
1045.215 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Consumption materials changes
inventories |
|
|
508.310 |
|
|
Manufacturing service costs |
|
|
296.658 |
|
|
Employee related expenses |
|
|
53.760 |
|
|
Administrative selling other
expenses |
|
|
30.535 |
|
|
TOTAL
(B) |
NA |
NA |
889.263 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
NA |
NA |
155.952 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
69.741 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
77.407 |
77.603 |
86.211 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
65.037 |
65.343 |
84.803 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
12.370 |
12.260 |
1.408 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
2.668 |
3.999 |
-0.565 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
9.702 |
8.261 |
1.973 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
31.157 |
|
|
|
NA |
NA |
|
|
|
Balance
Carried to the B/S |
|
|
33.130 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.98 |
0.83 |
0.02 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
0.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
0.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.23 |
1.19 |
0.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.10 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.00 |
5.16 |
4.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.11 |
1.12 |
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 |
99.390 |
99.390 |
99.390 |
|
Reserves & Surplus |
33.130 |
28.624 |
45.844 |
|
Net
worth |
132.520 |
128.014 |
145.234 |
|
|
|
|
|
|
long-term borrowings |
464.626 |
429.580 |
346.947 |
|
Short term borrowings |
183.008 |
231.169 |
234.296 |
|
Total
borrowings |
647.634 |
660.749 |
581.243 |
|
Debt/Equity
ratio |
4.887 |
5.162 |
4.002 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
NA |
41.024 |
34.924
|
|
|
|
|
|
|
Total |
NA |
41.024 |
34.924
|
|
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
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 |
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 LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
1.635 |
|
Loans and advances from directors |
60.093 |
71.226 |
|
Total |
60.093 |
72.861 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10448528 |
06/09/2013 |
81,778,000.00 |
BAJAJ FINANCE LIMITED |
AKURDI PUNE-, MUMBAI PUNE ROAD, PUNE, MAHARASHTRA - 411035, INDIA |
B84774157 |
|
2 |
10331141 |
03/01/2012 |
55,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
G-1, 6, 7, 8, GANESH KRIPA,, RHB ROAD, MULUND (W) , MUMBAI, MAHARASHTRA - 400080, INDIA |
B30365332 |
|
3 |
10172352 |
09/07/2009 |
10,000,000.00 |
THE THANE JANATA SAHAKARI BANK LIMITED |
EAST BRANCH, BHIVARA BHAVAN, TILAK NAGAR, THANE EAST, MAHARASHTRA - 400603, INDIA |
A67846683 |
|
4 |
10139656 |
27/01/2010 * |
697,853,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
G-1,6,7,8, GANESH KRUPA,, RHB ROAD, MULUND (WEST) , MUMBAI, MAHARASHTRA - 400080, INDIA |
A80067150 |
|
5 |
10136136 |
03/01/2012 * |
220,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
G-1, 6, 7, 8, GANESH KRIPA,, RHB ROAD, MULUND (W), MUMBAI, MAHARASHTRA - 400080, INDIA |
B30367452 |
|
6 |
10126634 |
14/10/2009 * |
475,353,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
G-1,6,7,8, GANESH KRIPA,, RHB ROAD, MULUND (WEST), MUMBAI, MAHARASHTRA - 400080, INDIA |
A73635054 |
|
7 |
10115238 |
14/06/2008 |
150,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
G-1,6,7 AND 8, GANESH KRIPA, RHB ROAD, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A42599548 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
Intangible assets
· Goodwill
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.61.02 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
28 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.