MIRA
INFORM REPORT
|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYMEGA SAVOURY TECHNOLOGY LIMITED (w.e.f. 16.03.2009) |
|
|
|
|
Formerly Known
As : |
SYMEGA SAVOURY TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.07.2006 |
|
|
|
|
Com. Reg. No.: |
09-019598 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.98.589 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51225KL2006PLC019598 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS0062P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Spice Blends, Flavours Soups and Seasonings. |
|
|
|
|
No. of Employees
: |
165 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 490000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track record. The company has been successful in wiping off its accumulated losses
of the previous years. The rating also derive further strength from the established brand of
“Synthite”, SIL’s long association with supplier and customers, its healthy
financial risk profile marked by growth in revenues, sustained profitability
and comfortable financial position. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
Long Term Bank Facilities = AA- (SO) |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
28.05.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ (SO) |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
28.05.2014 |
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 PARTED BY
|
Name : |
Mr. Siv Kumar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9746470104 |
|
Date : |
18.08.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Synthite Taste Park, No XI 312G, Pancode, Vadavucode – 682310,
Kerala, India |
|
Tel. No.: |
91-484-2734636 |
|
Mobile No.: |
91-9746470104 (Mr. Siv Kumar) |
|
Fax No.: |
91-484-2731470 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Sales Depot /
Branch Office: |
Ground Floor,
Harikishan Kataria Complex, Opposite Ram Mandir, Siva Mandir Chowk, Matha Road,
Rajiv Nagar( West), Gurgaon – 122001, Haryana, India |
DIRECTORS
As on 20.08.2013
|
Name : |
Mr. Santhosh Stephen |
|||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||
|
Address : |
5/321, Jubilee Road, Nazareth, Alwaye, Ernakulam – 683101, Kerala, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.08.1964 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
25.11.2013 |
|||||||||||||||||||||||||||
|
DIN No.: |
03077416 |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Yuval Levy |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Moshav Udim, 42905 Isarel 42905 |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.11.1958 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
26.03.2013 |
|||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Siv Kumar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 20.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Omega Flavour Technology Limited, India |
|
3614969 |
|
Synthite Industries Limited, India |
|
2957643 |
|
Synthite Holdings (India) Private Limited,
India |
|
3286308 |
|
Varghese Jacob |
|
1 |
|
Aju Jacob |
|
1 |
|
Joseph John |
|
1 |
|
Paulose
John |
|
1 |
|
Paolo George |
|
1 |
|
Total |
|
9858925 |
Equity Share Break up (Percentage of Total Equity)
As on 20.08.2013
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Spice Blends, Flavours Soups and Seasonings. |
|
|
|
|
Exports : |
|
|
Products : |
·
Spice Blends ·
Flavours Soups ·
Seasonings |
|
Countries : |
African Countries |
|
|
|
|
Imports : |
|
|
Products : |
Spice |
|
Countries : |
·
Gulf Countries ·
Vietnam |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Synthite |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
ITC Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
165 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Andhra Bank, Ajay Vihar, M.G. Road, Ernakulam - 682016, Kerala, India ·
State Bank of India, Commercial Branch, Ist Floor
, Vankarath Towers, Byepass Junction, Padivattom, Cochin - 682024, Kerala,
India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
JVR and Associates Chartered Accountants |
|
Address : |
No. 39/3639,
Valanjambalam Lane, South Of South Overbridge, Kochi – 682016, Kerala, India |
|
PAN No.: |
AAFFJ2815H |
|
|
|
|
Associates : |
· Synthite Industries Limited CIN No.: U24299KL1970PLC002294 · Omega Flavour Technology Limited CIN No.: U52201KL2005PLC018757 |
CAPITAL STRUCTURE
As on 20.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.00 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9858925 |
Equity Shares |
Rs.10/- each |
Rs.98.589 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 |
98.589 |
98.589 |
65.726 |
|
(b) Reserves & Surplus |
23.935 |
(4.602) |
(56.749) |
|
(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) |
122.524 |
93.987 |
8.977 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.665 |
1.740 |
0.534 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.262 |
0.120 |
0.279 |
|
(d) long-term provisions |
0.491 |
0.130 |
0.000 |
|
Total Non-current Liabilities (3) |
2.418 |
1.990 |
0.813 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
17.138 |
38.816 |
37.243 |
|
(b) Trade payables |
94.682 |
56.160 |
106.974 |
|
(c) Other current
liabilities |
11.153 |
3.203 |
1.767 |
|
(d) Short-term provisions |
8.627 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
131.600 |
98.179 |
145.984 |
|
|
|
|
|
|
TOTAL |
256.542 |
194.156 |
155.774 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
47.900 |
31.104 |
28.930 |
|
(ii) Intangible Assets |
7.337 |
5.937 |
7.984 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.321 |
13.052 |
0.000 |
|
(d) Long-term Loan and Advances |
15.949 |
3.642 |
0.349 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
71.507 |
53.735 |
37.263 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
64.866 |
51.280 |
51.669 |
|
(c) Trade receivables |
90.479 |
72.626 |
51.866 |
|
(d) Cash and cash
equivalents |
3.544 |
1.789 |
1.573 |
|
(e) Short-term loans and
advances |
2.190 |
0.848 |
6.945 |
|
(f) Other current assets |
23.956 |
13.878 |
6.458 |
|
Total Current Assets |
185.035 |
140.421 |
118.511 |
|
|
|
|
|
|
TOTAL |
256.542 |
194.156 |
155.774 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
671.630 |
534.438 |
294.753 |
|
|
|
Other Income |
0.220 |
0.448 |
1.163 |
|
|
|
TOTAL (A) |
671.850 |
534.886 |
295.916 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
464.661 |
369.581 |
226.369 |
|
|
|
Purchase of Stock-in-trade |
34.340 |
34.383 |
0.000 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
3.297 |
(4.867) |
(4.100) |
|
|
|
Employee Benefits Expenses |
41.724 |
26.422 |
18.843 |
|
|
|
Other Expenses |
75.009 |
71.616 |
47.901 |
|
|
|
Extraordinary items |
0.000 |
0.000 |
0.709 |
|
|
|
TOTAL (B) |
619.031 |
497.135 |
289.722 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
52.819 |
37.751 |
6.194 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.709 |
20.347 |
3.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
47.110 |
17.404 |
2.393 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
5.222 |
4.599 |
4.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
41.888 |
12.805 |
(1.652) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.351 |
(13.052) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
28.537 |
25.857 |
(1.652) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.89 |
3.06 |
(0.26) |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
920.000 |
The above information has been parted by Mr. Siv Kumar
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.25 |
4.83 |
(0.56) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.24 |
2.40 |
(0.56) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.35 |
7.07 |
(1.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.14 |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15 |
0.43 |
4.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.43 |
0.81 |
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 |
65.726 |
98.589 |
98.589 |
|
Reserves & Surplus |
(56.749) |
(4.602) |
23.935 |
|
Net
worth |
8.977 |
93.987 |
122.524 |
|
|
|
|
|
|
long-term borrowings |
0.534 |
1.740 |
1.665 |
|
Short term borrowings |
37.243 |
38.816 |
17.138 |
|
Total
borrowings |
37.777 |
40.556 |
18.803 |
|
Debt/Equity
ratio |
4.208 |
0.432 |
0.153 |
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 |
294.753 |
534.438 |
671.630 |
|
|
|
81.317 |
25.670 |
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
|
294.753 |
534.438 |
671.630 |
|
Profit |
(1.652) |
25.857 |
28.537 |
|
|
(0.56%) |
4.84% |
4.25% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS AND FINANCIAL RESULTS
During the year, the
Company achieved a turnover of Rs.671.630 Millions 25.67% over the previous
year. This growth has been achieved despite the intense competition faced by
the Company. The company was able to make a profit (PBT) of Rs.41.888 Millions
as compared to the profit of Rs.12.804 Millions for the previous year. The
carried forward losses of the earlier years have been reduced to Rs.2.355
Millions. They expect improved capacity utilization and resultant improved
volume and profit for the next financial year. Food and snacks industry in
India has been growing at compounded annual growth rate of 25% and this trend
is likely to continue in future, and your company is well poised to take
advantage of the continued growth in the coming years
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10419509 |
11/04/2014 * |
121,100,000.00 |
Andhra Bank |
Ajay Vihar, M.G. Road, Ernakulam, Kerala - 682016, India |
C05379862 |
|
2 |
10028386 |
26/05/2009 * |
60,000,000.00 |
State Bank Of India |
Commercial Branch,Ist Floor , Vankarath Towers, Byepass Junction, Padivattom, Cochin, Kerala - 682024, India |
B03496783 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
53 |
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.