MIRA
INFORM REPORT
|
Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
NANDAN PETROCHEM LIMITED |
|
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|
Registered
Office : |
19-A, Sita Estate, Aziz Baug, Mahul Gaon, Chembur, Mumbai – 400074, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.06.1992 |
|
|
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|
Com. Reg. No.: |
11 – 067089 |
|
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Capital
Investment / Paid-up Capital : |
Rs. 27.051 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201MH1992PLC067089 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Lubricant Oil and Grease |
|
|
|
|
No. of Employees
: |
105 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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.
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 |
CRISIC |
|
Rating |
Long Term Rating = BB (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
21.10.2013 |
|
Rating Agency Name |
CRISIC |
|
Rating |
Short Term Rating = A4+ (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
21.10.2013 |
Reason for suspention: absence of adequate information.
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. Charudatt Dobariya |
|
Designation : |
Not Disclosed |
|
Contact No.: |
91- 8588802760 |
|
Date : |
25.08.2014 |
LOCATIONS
|
Registered Office : |
19-A, Sita Estate, Aziz Baug, Mahul Gaon, Chembur, Mumbai – 400074,
Maharashtra, India |
|
Tel. No.: |
91-22-25545244 |
|
Mobile No.: |
91-8588802760 (Mr. Charudatt) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. J – 26, MIDC, Taloja, Mumbai, Maharashtra, India |
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Factory 2 : |
Plot no. j – 34, MIDC, Taloja, Mumbai, Maharashtra, India |
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Factory 3 : |
Plot No. 96/1, Falandi, Silvassa |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Shreenaryan Nathmal Agrawal |
|
Designation : |
Managing Director |
|
Address : |
5/2, Agarwal Nagar, Dr. Ambedkar Road, Matunga, Mumbai – 400019,
Maharashtra, India |
|
Date of Birth/Age : |
02.07.1958 |
|
Date of Appointment : |
05.06.1992 |
|
DIN No.: |
00023197 |
|
|
|
|
Name : |
Mr. Ramendra K. Jain |
|
Designation : |
Director |
|
Address : |
138, Narmada Apartments, Alkananda. New Delhi – 110019, India |
|
Date of Birth/Age : |
05.06.1935 |
|
Date of Appointment : |
03.09.2002 |
|
DIN No.: |
01650473 |
|
|
|
|
Name : |
Mr. Rohit Rajpal Puri |
|
Designation : |
Director |
|
Address : |
Rajkamal Udayagiri Society, Sion Trombay Road, Deonar, Mumbai –
400088, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1955 |
|
Date of Appointment : |
22.07.2003 |
|
DIN No.: |
00191679 |
|
|
|
|
Name : |
Mr. Mukesh Shah |
|
Designation : |
Director |
|
Address : |
Panchkamal Co –Opeartive Housing Society. Building No. E – 29, 3rd
Floor, Flat No. 3, Sector – 29, Vashi, New Mumbai – 400705, Maharashtra,
India |
|
Date of Birth/Age : |
15.06.1962 |
|
Date of Appointment : |
18.08.2003 |
|
DIN No.: |
00176298 |
|
|
|
|
Name : |
Mr. Giridhar Goving Joshi |
|
Designation : |
Whole Time Director |
|
Address : |
G – 703, Jeevandham Apartment, Near Vastrapur Telephone Exchange, Bima
Nagar, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
25.03.1949 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02401744 |
|
|
|
|
Name : |
Mr. Nandan Shreenarayan Agrawal |
|
Designation : |
Managing Director |
|
Address : |
5/2, Agarwal Nagar, Dr. Ambedkar Road, Matunga, Mumbai – 400019,
Maharashtra, India |
|
Date of Birth/Age : |
21.04.1985 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00023260 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Shreenarayan Agrawal |
930670 |
|
Hemant Shah |
214070 |
|
Nandan Inpex Private Limited, India |
350000 |
|
R. P. Shah |
210000 |
|
Meena Agrawal |
225000 |
|
S. N. Agrawal (Huf) |
25000 |
|
Anil Nair |
8000 |
|
Neeta Nair |
8000 |
|
Ghanshyam Shah |
1000 |
|
R. P. Shah |
1000 |
|
Triveni Shah |
4000 |
|
Nandan Bulk Carriers Priate Limited, India |
140000 |
|
Shree Narayan Agrawal (Nadnan Roadlines) |
8800 |
|
Yatin Jani |
154600 |
|
Red Rose Tie Up Private Limited, India |
200000 |
|
Nandan Agrawal |
225000 |
|
Total |
2705140 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
25.51 |
|
Directors or relatives of directors |
|
68.18 |
|
Others |
|
6.31 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Lubricant Oil and Grease |
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|
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|
Exports : |
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|
Countries : |
·
Singapore ·
UAE ·
Africa |
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Imports : |
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Products : |
Raw Material |
|
Countries : |
·
China ·
Korea ·
Taiwan ·
Thailand ·
USA ·
UK |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
Customers : |
Retailers |
|||||||||||||||||||||||||||
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No. of Employees : |
105 (Approximately) |
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Bankers : |
·
Bank Of Baroda, Chembur Branch, Mumbai,
Maharashtra, India ·
ICICI Bank Limited, Landmarkrace Cource Circle,
Alkapuri, Baroda – 390015, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sanjay Samdani and Associates Chartered Accountants |
|
Address : |
106 – D, Trade Cornor, Sakinaka, Andheri East, Mumbai – 400072,
Maharashtra, India |
|
PAN No.: |
AACPF6585L |
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|
|
|
Enterprises Which Are Owned, or Have Significant Influence of or Are
Partners With Key Managements Personnel and Their Relatives |
Nandna Impex Private Limited CIN No.: U24100MH1986PTC039670 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2705140 |
Equity Shares |
Rs.10/- each |
Rs.27.051
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 |
27.051 |
27.051 |
25.801 |
|
(b) Reserves & Surplus |
220.786 |
187.043 |
146.208 |
|
(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) |
247.837 |
214.094 |
172.009 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
86.731 |
47.486 |
35.541 |
|
(b) Deferred tax liabilities (Net) |
16.863 |
14.914 |
12.813 |
|
(c) Other long
term liabilities |
3.420 |
1.173 |
2.543 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
107.014 |
63.573 |
50.897 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
301.790 |
194.879 |
134.133 |
|
(b)
Trade payables |
62.989 |
74.495 |
189.729 |
|
(c) Other
current liabilities |
34.921 |
34.102 |
26.866 |
|
(d) Short-term
provisions |
2.700 |
1.320 |
3.069 |
|
Total Current
Liabilities (4) |
402.400 |
304.796 |
353.797 |
|
|
|
|
|
|
TOTAL |
757.251 |
582.463 |
576.703 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
132.485 |
119.008 |
88.479 |
|
(ii)
Intangible Assets |
0.808 |
0.863 |
1.071 |
|
(iii)
Capital work-in-progress |
120.647 |
79.717 |
53.108 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.212 |
0.061 |
0.061 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.596 |
2.248 |
2.024 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
257.748 |
201.897 |
144.743 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
204.275 |
153.384 |
179.412 |
|
(c)
Trade receivables |
164.497 |
161.928 |
176.492 |
|
(d) Cash
and cash equivalents |
19.043 |
18.149 |
47.223 |
|
(e)
Short-term loans and advances |
111.321 |
45.746 |
28.494 |
|
(f)
Other current assets |
0.367 |
1.359 |
0.339 |
|
Total
Current Assets |
499.503 |
380.566 |
431.960 |
|
|
|
|
|
|
TOTAL |
757.251 |
582.463 |
576.703 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1340.013 |
1174.823 |
933.354 |
|
|
|
Other Income |
3.380 |
3.505 |
1.756 |
|
|
|
TOTAL (A) |
1343.393 |
1178.328 |
935.110 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
907.564 |
926.099 |
679.361 |
|
|
|
Purchases of Stock-in-Trade |
140.792 |
4.269 |
4.137 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(5.554) |
(36.913) |
(6.428) |
|
|
|
Employees benefits expense |
43.720 |
40.165 |
30.922 |
|
|
|
Other expenses |
150.045 |
148.957 |
140.064 |
|
|
|
TOTAL (B) |
1236.567 |
1082.577 |
848.056 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
106.826 |
95.751 |
87.054 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.331 |
40.833 |
25.188 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
59.495 |
54.918 |
61.866 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.632 |
6.744 |
9.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
49.863 |
48.174 |
52.593 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.121 |
15.464 |
17.363 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
33.742 |
32.710 |
35.230 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.47 |
12.65 |
14.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.51 |
2.78 |
3.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.72 |
4.10 |
5.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.85 |
9.58 |
10.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.23 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.57 |
1.13 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.25 |
1.22 |
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 |
25.801 |
27.051 |
27.051 |
|
Reserves & Surplus |
146.208 |
187.043 |
220.786 |
|
Net worth |
172.009 |
214.094 |
247.837 |
|
|
|
|
|
|
long-term borrowings |
35.541 |
47.486 |
86.731 |
|
Short term borrowings |
134.133 |
194.879 |
301.790 |
|
Total borrowings |
169.674 |
242.365 |
388.521 |
|
Debt/Equity ratio |
0.986 |
1.132 |
1.568 |
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 |
933.354 |
1174.823 |
1340.013 |
|
|
|
25.871 |
14.061 |
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 |
933.354 |
1174.823 |
1340.013 |
|
Profit |
35.230 |
32.710 |
33.742 |
|
|
3.77% |
2.78% |
2.52% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
|
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 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 |
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 |
UNSECURED LOAN
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS: |
|
|
|
Rupee term loan from banks |
3.968 |
7.644 |
|
Term loans from others |
0.000 |
1.759 |
|
Loan and advances from related parties |
22.500 |
9.500 |
|
Total |
26.468 |
18.903 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10493007 |
03/04/2014 |
40,000,000.00 |
BANK OF BARODA |
CHANDAVARKAR ROAD BRANCH,, 309, CHANDAVARKAR ROAD, MATUNGA (C. RLY.),, MUMBAI - 400019 , MAHARASHTRA, INDIA |
C04268017 |
|
2 |
10407514 |
05/02/2013 |
600,000.00 |
BANK OF BARODA |
CHANDAVARKAR ROAD BRANCH,, 309, CHANDAVARKAR ROAD, MATUNGA (CENTRAL RAILWAY),, MUMBAI - 400019, MAHARASHTRA , INDIA |
B69244093 |
|
3 |
10372302 |
17/08/2012 |
40,000,000.00 |
BANK OF BARODA |
CHANDAVARKAR ROAD
BRANCH,, 309, CHANDAVARKAR ROAD, MATUNGA (CENTRAL RAILWAY), MUMBAI - |
B56309859 |
|
4 |
10351990 |
28/04/2012 |
62,200,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B38308797 |
|
5 |
10305158 |
02/08/2011 |
20,000,000.00 |
BANK OF BARODA |
CHANDAVARKAR ROAD BRANCH,, 309, CHANDAVARKAR ROAD, MATUNGA (CENTRAL RAILWAY),, MUMBAI - 400019, MAHARASHTRA , INDIA |
B20006656 |
|
6 |
10294854 |
30/06/2011 |
74,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B16057606 |
|
7 |
10285305 |
19/03/2011 |
624,000.00 |
BANK OF BARODA |
CHANDAVARKAR ROAD
BRANCH,, 309, CHANDAVARKAR ROAD, MATUNGA (C,RLY.),, MUMBAI - 400019,
MAHARASHTRA, |
B12126330 |
|
8 |
10285308 |
19/03/2011 |
624,000.00 |
BANK OF BARODA |
CHANDAVARKAR ROAD
BRANCH,, 309, CHANDAVARKAR ROAD, MATUNGA (C,RLY.),, MUMBAI - 400019,
MAHARASHTRA, |
B12126637 |
|
9 |
10227375 |
10/05/2010 |
500,000.00 |
BANK OF BARODA |
CHANDAVARKAR ROAD BRANCH,, MATUNGA EAST,, MUMBAI - 400019, MAHARASHTRA, INDIA |
A88661632 |
|
10 |
10218934 |
13/03/2010 |
448,000.00 |
BANK OF BARODA |
CHANDAVARKAR ROAD BRANCH,, 309, CHANDAVARKAR ROAD, MATUNGA (C. RLY.),, MUMBAI - 400019 , MAHARASHTRA, INDIA |
A84872266 |
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 judgment 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.60.43 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.79.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.