MIRA
INFORM REPORT
|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAJIV PETROCHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rajiv House, 4, Smrutikunj, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.10.1993 |
|
|
|
|
Com. Reg. No.: |
04-020527 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.901
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209GJ1993PTC020527 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR01211A AAACR7294Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of PVC Resin, PET Resin, Master Batches,
LDPE, PP, LDPE, HDPE etc. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 : |
Not Available |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred a loss, borrowings of the company has also increased
during 2013. However, trade relations are reported as fair. Business is active.
Payment terms 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
NEWS
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 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 that 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 |
CARE |
|
Rating |
BB- (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
January 31, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A4+ (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree at safety. It carry very high
credit risk. |
|
Date |
January 31, 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
(Tel. No.: 91-79-26448383)
LOCATIONS
|
Registered Office : |
Rajiv House, 4, Smrutikunj, Swastick Cross Road, Near Navrangpura Post
Office, Ahmedabad – 380 009, Gujarat, India |
|
Tel. No.: |
91-79-26448383/ 26568571/ 26568574 |
|
Fax No.: |
91-79-26423595 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
205/21209, GIDC, Dhalka, Ahmedabad, Gujarat, India |
|
Tel. No.: |
91-271-4248344 |
|
Area : |
10000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 26.09.2013
|
Name : |
Mr. Rajiv Vastupal Mehta |
|
Designation : |
Managing Director |
|
Address : |
30-31, Vasantkunj, New Sharada Mandir, Ahmedabad – 380 007, Gujarat,
India |
|
Date of Birth/Age : |
28.10.1957 |
|
Qualification : |
CA Inter |
|
Date of Appointment : |
27.10.1993 |
|
DIN No.: |
00647906 |
|
PAN No.: |
ABGPM6306E |
|
|
|
|
Name : |
Mr. Jitendra Jatilal Patel |
|
Designation : |
Director |
|
Address : |
5, Manavseva Society, Opposite Balol Nagar, Ranip, Ahmedabad – 382
480, Gujarat, India |
|
Date of Birth/Age : |
01.08.1958 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
16.11.1999 |
|
DIN No.: |
00871873 |
|
PAN No.: |
ACPPP7322R |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Brahmabhat |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rajiv Vastupal Mehta |
|
837500 |
|
Arati Rajiv Mehta |
|
60000 |
|
Induben Ambalal Parekh |
|
37300 |
|
Rannaben Sanghavi |
|
5000 |
|
Jitendra Ratilal Patel |
|
100 |
|
Chunilal Ganeshdas Patel |
|
100 |
|
Rajiv Enterprise Private Limited, India |
|
50000 |
|
Mayank N. Shah |
|
17 |
|
Ama
Manufacturing and Trading Private Limited, India |
|
9 |
|
Natvarlal C Shah, Girishbhai S Shah and Amitbhai P Shah, Shree Ama and
Company, India |
|
22 |
|
Rajan
Kumudchandra |
|
2 |
|
Piyush
Balvantlal |
|
1 |
|
Gaurang
Balvantlal |
|
1 |
|
Jayantilal
Shantilal |
|
1 |
|
Anubhai
Shantilal |
|
1 |
|
Manish
Mahendrabhai |
|
1 |
|
Arvindbhai
Shantilal |
|
2 |
|
Girishchandra
shantllal |
|
1 |
|
Amitbhai Pramukhlal |
|
2 |
|
Rakshaben
Virendrabhai |
|
1 |
|
Namanbhai
Virendrabhai |
|
1 |
|
Piyush
Balvantlal |
|
1 |
|
Gaurang
Balvantlal |
|
1 |
|
Jayantilal
Shantilal |
|
2 |
|
Anubhai
Shantilal |
|
2 |
|
Manish
Mahendrabhai |
|
2 |
|
Arvindbhai
Shantilal |
|
2 |
|
Girishchandra
Shantilal |
|
1 |
|
Amitbhai
Pramukhlal |
|
3 |
|
Rakshaben
Virendrabhai |
|
1 |
|
Namanbhai
Virendrabhai |
|
1 |
|
Rajan
Kumudchandra |
|
1 |
|
Ama Distributors
Private Limited, India |
|
26 |
|
Natvarlal
Chimanlal Shah |
|
2 |
|
Manoj Natvarlal |
|
1 |
|
Natvarlal
Chimanlal |
|
1 |
|
Total
|
|
990109 |
AS ON 26.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
5.05 |
|
Directors
or relatives of directors |
|
94.95 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of PVC Resin, PET Resin, Master Batches,
LDPE, PP, LDPE, HDPE etc. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011):
|
Particulars |
Installed
Capacity (Per
annum) |
|
PP / HDPE Bags |
3000000 |
Installed
Capacities being technical matter, are taken as certified by the management.
|
Particulars |
Unit |
Actual
Production |
|
PP Bags |
Nos. |
3608641 |
|
PP Waste |
Kgs. |
1978 |
|
PP Tale |
Kgs |
229011 |
|
PP Defective Fab. |
Nos. |
1175 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Syndicate Bank, Navrangpura Branch, Manikyam Apartments,
Sardar Patel Nagar, Navrangpura, Ahmedabad – 380 009, Gujarat, India ·
Syndicate Bank, Navrangpura Branch, C.G. Road,
Ahmedabad – 380 009, Gujarat, India ·
The Kalupur Commercial Co-Operative Bank Limited |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Kedia and
Sharma Chartered Accountants |
|
Address : |
13, Mill
Officers Colony, IInd Floor, Behind. La Gaijar Chambers, Ashram Road,
Ahmedabad – 380 009, Gujarat, India |
|
PAN No.: |
AABFJ2625B |
|
|
|
|
Associate Companies : |
·
Rajiv Enterprise Private Limited ·
Optic Liting Private Limited ·
Atlantis Products Private Limited |
|
|
|
|
Investing Party and its Group
Companies/Firms : |
·
Rajiv Enterprise (Ahmedabad) ·
Rajiv Enterprise (Gujarat) ·
Riddhi Enterprise ·
Optiflex Industries ·
Elegant Enterprise ·
Rajiv Sales ·
Arvi Enterprise ·
Anupam Enterprise ·
Vibrant Impex |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
990109 |
Equity Shares |
Rs.10/- each |
Rs.9.901
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 |
9.901 |
9.901 |
9.701 |
|
(b) Reserves & Surplus |
67.793 |
69.350 |
55.737 |
|
(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) |
77.694 |
79.251 |
65.438 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
7.889 |
2.909 |
1.930 |
|
(c) Other long
term liabilities |
0.055 |
0.947 |
5.338 |
|
(d) Long-term provisions |
0.080 |
0.578 |
1.140 |
|
Total Non-current
Liabilities (3) |
8.024 |
4.434 |
8.408 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
247.047 |
191.377 |
552.076 |
|
(b)
Trade payables |
445.192 |
328.357 |
30.070 |
|
(c)
Other current liabilities |
9.052 |
10.503 |
5.338 |
|
(d) Short-term
provisions |
2.970 |
1.410 |
4.478 |
|
Total Current
Liabilities (4) |
704.261 |
531.647 |
591.962 |
|
|
|
|
|
|
TOTAL |
789.979 |
615.332 |
665.808 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
75.960 |
98.292 |
72.978 |
|
(ii)
Intangible Assets |
1.390 |
1.802 |
2.121 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
12.512 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.031 |
0.031 |
0.031 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
51.807 |
40.831 |
38.724 |
|
(e) Other
Non-current assets |
9.656 |
10.500 |
11.892 |
|
Total Non-Current
Assets |
138.844 |
151.456 |
138.258 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3.843 |
31.736 |
22.167 |
|
(c)
Trade receivables |
507.617 |
386.891 |
418.705 |
|
(d) Cash
and cash equivalents |
68.702 |
29.502 |
36.082 |
|
(e) Short-term
loans and advances |
61.931 |
10.433 |
10.394 |
|
(f)
Other current assets |
9.042 |
5.314 |
40.202 |
|
Total
Current Assets |
651.135 |
463.876 |
527.550 |
|
|
|
|
|
|
TOTAL |
789.979 |
615.332 |
665.808 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.456 |
9.245 |
18.826 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.581 |
4.812 |
5.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
4.875 |
4.433 |
13.612 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.432 |
2.620 |
1.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(1.557) |
1.813 |
12.034 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
52.750 |
50.937 |
38.903 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
51.193 |
52.750 |
50.937 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.000 |
3.344 |
|
|
|
|
|
|
|
|
|
|
C.I.F. VALUE OF IMPORTS |
284.345 |
263.782 |
217.987 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.57) |
1.83 |
12.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.62
|
0.72 |
2.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.06 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.18
|
2.41 |
8.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92
|
0.87 |
0.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
9.701 |
9.901 |
9.901 |
|
Reserves & Surplus |
55.737 |
69.350 |
67.793 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
65.438 |
79.251 |
77.694 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
552.076 |
191.377 |
247.047 |
|
Total borrowings |
552.076 |
191.377 |
247.047 |
|
Debt/Equity ratio |
8.437 |
2.415 |
3.180 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long term debt |
0.000 |
0.000 |
0.000 |
|
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 |
Yes |
|
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 |
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 |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
133.422 |
89.110 |
|
Loans and advances from others |
13.843 |
2.822 |
|
Total |
147.265 |
91.932 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10374438 |
29/01/2014 * |
546,000,000.00 |
SYNDICATE BANK |
NAVRANGPURA BRANCH,
MANIKYAM APARTMENTS, SARDAR, |
B98934094 |
|
2 |
10246250 |
03/11/2011 * |
228,000,000.00 |
SYNDICATE BANK |
MANIKYAM APARTMENTS,
SARDAR PATEL NAGAR, ELLISBRIDGE, NAVRANGPURA, AHMEDABAD, GUJARAT - 380006,
INDIA |
B26027847 |
|
3 |
10364344 |
12/12/2006 |
31,700,000.00 |
SYNDICATE BANK |
SARDAR PATEL NAGAR,
NAVRANGPURA, AHMEDABAD, GUJARAT - 380006, INDIA |
A27789585 |
|
4 |
10017846 |
20/04/2012 * |
2,400,000.00 |
SYNDICATE BANK |
NAVRANGPURA BRANCH, C.G.
ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
B41460213 |
|
5 |
90102280 |
27/05/2011 * |
546,000,000.00 |
SYNDICATE BANK |
NAVRANGPURA BRANCH, C G ROAD,
AHMEDABAD, GUJARAT - 380009, INDIA |
B13619556 |
|
6 |
10364625 |
12/10/2002 |
64,000,000.00 |
THE KALUPUR COMMERCIAL
CO-OPERATIVE BANK LIMITED |
VIKRAM BRANCH, SAROJ
CHAMBERS, AHMEDABAD, GUJARAT - 380009, INDIA |
A08720716 |
|
7 |
90102203 |
15/02/2012 * |
10,000,000.00 |
SYNDICATE BANK |
NAVRANGPURA BRANCH, C.G.
ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
B36283752 |
|
8 |
90101609 |
12/03/2001 * |
1,000,000.00 |
SYNDICATE BANK |
NAVRANGPURA BRANCH,
AHMEDABAD, GUJARAT, INDIA |
- |
* Date of charge modification
PERFORMANCE DURING
THE YEAR
The Company has
made sales of import various grade of LLDPE Manufactured by Basell
International trading FZE, Dubai and PVC Resin of Hanwha Corporation, Korea,
Formosa Plastic Corporation, Taiwan, Polyester film of Jindal Polyester
Limited. Further The Company has also carried out the business of consignment
activity of Finolex Industries Limited, LG Polymers (India) Private Limited,
Haldia Petrochemicals Limited and HPCL Mittal Energy Limited.
CONTINGENT LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Bank
Guarantees/LCs issued in favour of Corporate Suppliers |
316.500 |
293.000 |
|
Counter
Guarantees issued by Company to related Parties |
46.600 |
31.000 |
|
Bills/LC
Discounted of Company (ILC) |
173.134 |
456.688 |
|
Suit
filed against the company |
-- |
-- |
FIXED ASSETS
·
Leasehold Land
·
Building (Flat)
·
Plant and Machineries
·
Computer
·
Air Conditioner
·
Water Cooler
·
Office Equipments
·
Furniture and Fixture
·
Vehicles
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.61.41 |
|
|
1 |
Rs.103.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
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 |
|
27 |
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.