MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
J.J. POLYPLAST PRIVATE LIMITED [w.e.f.03.06.2010] |
|
|
|
|
Formerly Known
As : |
J.J. POLYPLAST LIMITED J.J. POLYPLAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-206, 2nd Floor, Ghatkopar Industrial Estate, LBS Marg,
Ghatkopar (West), Mumbai – 400084, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.10.1997 |
|
|
|
|
Com. Reg. No.: |
11-111395 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 25.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1997PTC111395 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMJ05531B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4050C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Plastic Dies and Moulds. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
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 |
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|
|
Comments : |
Subject is an established company having a moderate track record. Profitability of the company seems to be low during 2013. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
June 24, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-22-25007155]
LOCATIONS
|
Registered / Corporate Office : |
C-206, 2nd Floor, Ghatkopar Industrial Estate, LBS Marg, Ghatkopar
(West), Mumbai – 400084, Maharashtra |
|
Tel. No.: |
91-22-40827106/ 25007155 (8 lines) |
|
Fax No.: |
91-22-25007166 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Joseph John Parakkott |
|
Designation : |
Managing director |
|
Address : |
1303/1304, C Wing, Lake Florence, Lake Home, Phase 1, Off Adi Shandara
Charya Marg, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1970 |
|
Date of Appointment : |
20.10.1997 |
|
PAN No.: |
AGSPP9092M |
|
DIN No.: |
01032342 |
|
|
|
|
Name : |
Mr. Vijayachandran Govindan Menon |
|
Designation : |
Director |
|
Address : |
303/9, Shubharambh Tower, Manpada, Thane – 400607, Maharashtra, India |
|
Date of Birth/Age : |
27.04.1970 |
|
Date of Appointment : |
30.06.2004 |
|
PAN No.: |
AJJPM6000G |
|
DIN No.: |
00347937 |
|
|
|
|
Name : |
Mr. Sanjesh Jinnalal Jain |
|
Designation : |
Director |
|
Address : |
6/7, Pankaj Apartments, Near LVM School, Kotnis Marg, Mahim, Mumbai –
400016, Maharashtra, India |
|
Date of Birth/Age : |
12.09.1972 |
|
Date of Appointment : |
10.06.2010 |
|
PAN No.: |
AAKPJ3456B |
|
DIN No.: |
02436515 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Joseph John Parakkott |
|
897310 |
|
Rosamma Parakkott |
|
35500 |
|
Vijayachandran Govindan Menon |
|
105000 |
|
John Parakkott |
|
11000 |
|
Alekutty Parakkott |
|
10000 |
|
Nilesh Vijaykumar Kadam |
|
30000 |
|
Margaret Nilesh Kadam |
|
25000 |
|
Triloksingh Mehta |
|
50500 |
|
Hemantkumar P Jain |
|
75690 |
|
Suneeta Hemantkumar Jain |
|
15000 |
|
J N Kanth Dyechem Private Limited, India |
|
15000 |
|
Shree Venkatesh Chem Colours, India |
|
5000 |
|
Parakkott Investments India Private Limited, India |
|
1225000 |
|
|
|
|
|
Total |
|
2500000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
49.80 |
|
Directors
or relatives of directors |
45.98 |
|
Other
top fifty shareholders |
4.22 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Dies and Moulds. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|||||||||||||||||||||
|
Bankers : |
· Union Bank of India Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India · The Saraswat Cooperative Bank Limited Ghatkopar Branch, Ghatkopar, Mumbai - 400086, Maharashtra, India · Standard Chartered Bank SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G
Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India |
|||||||||||||||||||||
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Devarajan and Company Chartered Accountants |
|
Address : |
408, Anurag Business Centre, Near Amar Theatre, Chembur,
Mumbai – 400071, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFR0229A |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Parakkott Investments India Private Limited |
|
|
|
|
Associates : |
· Aishwarya Plast Exports Private Limited K K Products J J Poly Impex Private Limited |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs. 60.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 25.000
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000
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 |
25.000 |
25.000 |
19.320 |
|
(b) Reserves & Surplus |
43.841 |
33.546 |
26.114 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
5.680 |
|
Total
Shareholders’ Funds (1) + (2) |
68.841 |
58.546 |
51.114 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
78.087 |
39.539 |
0.579 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
78.087 |
39.539 |
0.579 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
410.842 |
322.585 |
201.638 |
|
(b)
Trade payables |
7.539 |
31.157 |
26.897 |
|
(c)
Other current liabilities |
18.326 |
18.785 |
18.233 |
|
(d) Short-term
provisions |
0.297 |
0.714 |
0.094 |
|
Total Current
Liabilities (4) |
437.004 |
373.241 |
246.862 |
|
|
|
|
|
|
TOTAL |
583.932 |
471.326 |
298.555 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
7.448 |
2.780 |
3.256 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.558 |
0.558 |
0.558 |
|
(c) Deferred tax assets (net) |
0.018 |
0.123 |
0.130 |
|
(d) Long-term Loan and Advances |
3.114 |
3.543 |
3.458 |
|
(e) Other
Non-current assets |
0.809 |
0.000 |
0.622 |
|
Total Non-Current
Assets |
11.947 |
7.004 |
8.024 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
1.000 |
0.000 |
|
(b)
Inventories |
42.083 |
128.393 |
122.253 |
|
(c)
Trade receivables |
333.716 |
212.683 |
97.441 |
|
(d) Cash
and cash equivalents |
129.146 |
50.208 |
20.702 |
|
(e)
Short-term loans and advances |
67.040 |
72.038 |
49.893 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.242 |
|
Total
Current Assets |
571.985 |
464.322 |
290.531 |
|
|
|
|
|
|
TOTAL |
583.932 |
471.326 |
298.555 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1747.701 |
1390.808 |
881.115 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.194 |
12.114 |
6.848 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.498 |
0.541 |
0.678 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
15.696 |
11.573 |
6.170 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.401 |
4.141 |
1.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
10.295 |
7.432 |
4.209 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
4.12 |
2.97 |
3.11 |
|
|
|
Diluted
|
4.12 |
2.97 |
2.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.90 |
0.83 |
0.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.69 |
2.46 |
2.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.20 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.10 |
6.19 |
3.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.24 |
1.18 |
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 |
19.320 |
25.000 |
25.000 |
|
Reserves & Surplus |
26.114 |
33.546 |
43.841 |
|
Share Application money pending allotment |
5.680 |
0.000 |
0.000 |
|
Net
worth |
51.114 |
58.546 |
68.841 |
|
|
|
|
|
|
long-term borrowings |
0.579 |
39.539 |
78.087 |
|
Short term borrowings |
201.638 |
322.585 |
410.842 |
|
Total
borrowings |
202.217 |
362.124 |
488.929 |
|
Debt/Equity ratio |
3.956 |
6.185 |
7.102 |
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 |
881.115 |
1390.808 |
1747.701 |
|
|
|
57.846 |
25.661 |
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 |
881.115 |
1390.808 |
1747.701 |
|
Profit |
4.209 |
7.432 |
10.295 |
|
|
0.48% |
0.53% |
0.59% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10378204 |
03/03/2014 * |
225,000,000.00 |
STANDARD
CHARTERED BANK |
SME CREDIT,
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
C00638833 |
|
2 |
10339548 |
04/02/2012 |
50,000,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR
MARG BRANCH, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
B33850793 |
|
3 |
90152119 |
09/03/2002 |
5,000,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR MARG
BRANCH, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
4 |
80032274 |
27/12/2013 * |
475,000,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR
MARG BRANCH, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B94397064 |
|
5 |
80032273 |
08/09/2012 * |
367,500,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR
MARG BRANCH, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
B58505439 |
|
6 |
90150896 |
18/06/2001 |
1,500,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR
MARG BRANCH, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
- |
|
7 |
90152082 |
18/06/2001 |
12,500,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR MARG
BRANCH, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from others |
1.190 |
30.740 |
|
Loans and advances from related parties |
73.464 |
8.645 |
|
|
|
|
|
Total |
74.654 |
39.385 |
OPERATIONS DURING THE
YEAR
The Company has achieved a top line of Rs 1747.700 Millions, an increase of 26% over the previous year and after provision for taxation managed to add Rs. 10.295 Millions to its kitty as reserves. The current year net profit of Rs. 10.295 Millions is an increase of 39% when compared to the previous year figure of Rs.7.432 Millions.
The Company continues to be successful in consolidating the gains over previous year and hopes to improve its presence in the market still further.
PROSPECTS
The current era in polymer consumption has undergone a sea change throughout India. The concept of Malls has led to phenomenal increase in consumption of polymers for packaging purpose. Moreover, polymer has made inroads into many new areas of human life. The per capita consumption of plastic in India is around 6 kgs and it is likely to touch the world average of 24 kgs by end of next decade. This phenomenal growth in terms of consumption has led to severe shortage in domestic market and hence import of polymers continue to move in a great pace.
The Company is likely to touch Rs. 2400.000 Millions in top
line in the current financial year and looks forward to accelerated growth.
FIXED ASSETS:
· Buildings
Office
building
Furniture
and fixtures
Vehicles
Office
equipment
Computer
equipments
Other
equipments
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. 60.87 |
|
|
1 |
Rs. 102.67 |
|
Euro |
1 |
Rs. 81.70 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.