MIRA
INFORM REPORT
|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEMOSHA CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
105-A, Mittal Tower, 210, Nariman Point, Mumbai – 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.10.1970 |
|
|
|
|
Com. Reg. No.: |
11-014859 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1970PTC014859 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD09824D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD3822A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Inorganic Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 655000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating takes into consideration adverse regulatory changes and
downturns in the domestic end-user industries and increasing competition in
the sector. 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
BB+ (Long Term Rating) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
July 14, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
July 14, 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 DENIED
Management Non Co-Operative (91-22-22823558)
LOCATIONS
|
Registered Office/ ADM.
Office : |
105-A, Mittal Tower, 210, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22823558 / 22823588 / 22852189 / 22872218 |
|
Fax No.: |
91-22-22045997 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory: |
GIDC Industrial Estate, Gundlav - 396005, Gujarat, India |
|
Tel. No.: |
91-2632-2632-237271 / 2 / 3 |
|
Fax No.: |
91-2632-2632-237277 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on: 27.09.2013
|
Name : |
Mr. Gautam Bhogilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
19, 7th Floor, Panchasar Building, 76 Netaji Subhash Marg, Marine
Drive, Mumbai - 400020, Maharashtra, India |
|
Date of Birth/Age : |
08.01.1946 |
|
Date of Appointment : |
01.03.1995 |
|
PAN No.: |
AAOPS2532D |
|
DIN No.: |
00665651 |
|
|
|
|
Name : |
Mr. Chinubhai Shantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
903, Chandanbala, R. R. Thakkar Marg, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1937 |
|
Date of Appointment : |
01.05.1997 |
|
PAN No.: |
AAQPS6109L |
|
DIN No.: |
00209638 |
|
|
|
|
Name : |
Mr. Vijay Monish Parikh |
|
Designation : |
Director |
|
Address : |
10/C, 5th Floor, Ishwardas Mansion, Nana Chowk, Mumbai -
400007, Maharashtra, India. |
|
Date of Birth/Age : |
09.09.1955 |
|
Date of Appointment : |
01.03.1995 |
|
PAN No.: |
AAFPP6546F |
|
DIN No.: |
01556958 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
5.38 |
|
Directors or relatives of directors |
|
94.62 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Inorganic Chemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Bank of Baroda, Bulsar Main Branch, Nani Khatriwad, Bulsar - 396001, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R P Shah and Company Chartered Accountants |
|
Address : |
Office No.35, 3rd Floor, Tardeo, AC Market, Mumbai – 400
034, |
|
PAN No.: |
ABSPD1234G |
|
|
|
|
Associates : |
· Western India Chemicals · Industrial Solvents and Chemicals Private Limited U24110MH1959PTC011440 · BMS Chemie ·
Mudrika Finance and Investment Private Limited U67120MH1999PTC118079 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.100/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199000 |
Equity Shares |
Rs.100/- each |
Rs.19.900 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 |
19.900 |
19.900 |
19.900 |
|
(b) Reserves & Surplus |
143.989 |
94.435 |
91.379 |
|
(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) |
163.889 |
114.335 |
111.279 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
213.123 |
205.459 |
174.027 |
|
(b) Deferred tax liabilities (Net) |
4.286 |
2.147 |
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) |
217.409 |
207.606 |
174.027 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
66.281 |
93.137 |
141.808 |
|
(b) Trade payables |
98.644 |
153.153 |
119.078 |
|
(c) Other current liabilities |
65.169 |
24.424 |
22.092 |
|
(d) Short-term provisions |
7.645 |
7.410 |
7.324 |
|
Total Current Liabilities (4) |
237.739 |
278.124 |
290.302 |
|
|
|
|
|
|
TOTAL |
619.037 |
600.065 |
575.608 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
93.269 |
79.168 |
83.356 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
6.901 |
13.626 |
1.090 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.031 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.624 |
|
(d) Long-term Loan and Advances |
0.375 |
6.416 |
6.327 |
|
(e) Other Non-current assets |
0.081 |
0.081 |
0.000 |
|
Total Non-Current Assets |
100.626 |
99.291 |
91.428 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
227.867 |
170.353 |
187.704 |
|
(c) Trade receivables |
251.365 |
292.515 |
274.347 |
|
(d) Cash and cash equivalents |
15.960 |
6.492 |
3.503 |
|
(e) Short-term loans and advances |
18.411 |
22.050 |
17.260 |
|
(f) Other current assets |
4.808 |
9.364 |
1.366 |
|
Total Current Assets |
518.411 |
500.774 |
484.180 |
|
|
|
|
|
|
TOTAL |
619.037 |
600.065 |
575.608 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1247.700 |
1120.400 |
|
|
|
Other Income |
|
4.727 |
0.701 |
|
|
|
TOTAL (A) |
1464.748 |
1252.427 |
1121.101 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1331.971 |
1185.920 |
1026.525 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
132.777 |
66.507 |
94.576 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.706 |
40.544 |
37.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
95.071 |
25.963 |
57.351 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.512 |
10.354 |
8.828 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
85.559 |
15.609 |
48.523 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.638 |
6.771 |
15.254 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
55.921 |
8.838 |
33.269 |
|
|
|
|
|
|
|
|
|
|
Prior period
adjustments |
(0.585) |
0.000 |
(0.002) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
38.435 |
36.379 |
13.894 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
6.000 |
1.000 |
5.000 |
|
|
|
Proposed Dividend |
4.975 |
4.975 |
4.975 |
|
|
|
Tax on Proposed Dividend |
0.807 |
0.807 |
0.807 |
|
|
BALANCE CARRIED
TO THE B/S |
81.989 |
38.435 |
36.379 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
103.268 |
103.268 |
117.499 |
|
|
TOTAL EARNINGS |
103.268 |
103.268 |
117.499 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
30.926 |
30.926 |
27.852 |
|
|
|
Stores & Spares |
0.325 |
0.325 |
0.341 |
|
|
TOTAL IMPORTS |
31.251 |
31.251 |
28.193 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
281.01 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.82 |
0.71 |
2.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
1.25 |
4.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.98 |
2.66 |
8.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
052 |
0.13 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.70 |
2.61 |
2.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18 |
1.81 |
2.78 |
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 |
19.900 |
19.900 |
19.900 |
|
Reserves & Surplus |
91.379 |
94.435 |
143.989 |
|
Net
worth |
111.279 |
114.335 |
163.889 |
|
|
|
|
|
|
long-term borrowings |
174.027 |
205.459 |
213.123 |
|
Short term borrowings |
141.808 |
93.137 |
66.281 |
|
Total
borrowings |
315.835 |
298.596 |
279.404 |
|
Debt/Equity
ratio |
2.838 |
2.612 |
1.705 |
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) |
|
Total Income |
1121.101 |
1252.427 |
1464.748 |
|
|
|
11.714 |
16.953 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1121.101 |
1252.427 |
1464.748 |
|
Profit |
33.269 |
8.838 |
55.921 |
|
|
2.97% |
0.71% |
3.82% |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Deposits from others |
4.301 |
3.865 |
|
Loans and advances from directors |
208.748 |
201.004 |
|
|
|
|
|
Total |
213.049 |
204.869 |
PERFORMANCE OF THE
COMPANY
The company posted an all-round improved performance with an impressive top line growth and earnings reflecting the robustness of its corporate strategy of creating multiple drivers of growth. This performance is particularly noteworthy when viewed again the bankfrop of the extremely challenging business content resulting out of a regulated regime.
The company recorded revenue of Rs.1616.100 Millions for the year ended 31st March 2013 as compared to Rs.1355.500 Millions in the previous year 2011–12. The earnings before interest, depreciation and tax for the year was Rs.132.800 Millions as against previous year’s Rs.66.500 Millions.
CURRENT YEAR OUT LOOK
The expected decline in growth rate in India is bound to affect their performance in the current year and the rate of growth achieved in last year may not be maintained in the current year. During the current year energy cost has further gone up. Continuation of higher inflation rate will also increase labour cost further in the current year. The year is bound to be with lots of uncertainty and the company hopes to maintain the profitability as of last year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90232268 |
23/02/2004 |
12,000,000.00 |
BANK OF BARODA |
BULSAR BRANCH, BULSAR, MAHARASHTRA, INDIA |
- |
|
2 |
90232198 |
08/11/2006 * |
52,000,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
A33820242 |
|
3 |
90226992 |
24/11/2006 * |
185,000,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
A38894895 |
|
4 |
90229505 |
21/09/1999 |
18,500,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
- |
|
5 |
90229263 |
26/09/1997 |
102,500,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
- |
|
6 |
90229132 |
15/11/1996 |
200,000.00 |
BANK OF BARODA |
MOTA BAZAR, BULSAR, GUJARAT, INDIA |
- |
|
7 |
90228839 |
12/10/1994 |
7,500,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIVAD, BULSAR, MAHARASHTRA - 396001, INDIA |
- |
|
8 |
90231902 |
12/10/1994 * |
11,000,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIVAD, BULSAR, MAHARASHTRA - 396001, INDIA |
- |
|
9 |
90228810 |
25/07/1996 * |
18,000,000.00 |
INDUSTRAL DEVELOPMENT BANK OF INDIA |
NEPTUNE TOWER, NEHRU BRIDGE; ASHRAM ROAD, AHMEDABAD, MAHARASHTRA - 380009, INDIA |
- |
|
10 |
90231783 |
30/03/1992 * |
10,000,000.00 |
BANK OF BARODA |
NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Factory Equipments
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer 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.64.41 |
|
|
1 |
Rs.103.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
36 |
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.