MIRA
INFORM REPORT
|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASTRON PACKAGING LIMITED |
|
|
|
|
Formerly Known
As : |
ASTRON PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Chinubhai Centre, Ashram Road, Ahmedabad –
380009, Gujarat |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.07.2001 |
|
|
|
|
Com. Reg. No.: |
04-039733 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.16.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21029GJ2001PLC039733 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA0093L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the manufacturing of corrugated boxes,
corrugated pallets, self-adhesive labels and foils. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The rating reflects company’s healthy financial risk profile marked by
sound liquidity position and fair profitability levels of the company. 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 condition. |
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 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 |
BBB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
19.11.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ (Short Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
19.11.2013 |
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. Tejas |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2717-294204 |
|
Date : |
27.08.2014 |
LOCATIONS
|
Registered Office : |
2nd Floor, Chinubhai Centre, Ashram Road, Ahmedabad –
380009, Gujarat, India |
|
Tel. No.: |
91-79-26576655 |
|
Mobile No.: |
91-9909944583 (Mr. Paresh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
No.22, 23 and 34, Mahagujarat Industrial Estate, Sarkeh Bavla Highway,
Village – Moraiya, Ahmedabad - 382210 Gujarat, India |
|
Tel. No.: |
91-2717-294204 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Urmish Hasmukh Chudgar |
|
Designation : |
Director |
|
Address : |
16, Nishant Bunglows, Satelite, Ahmedabad – 380015, Gujarat,
India |
|
Date of Birth/Age : |
16.02.1959 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00096080 |
|
|
|
|
Name : |
Mr. Binish Hasmukh Chudgar |
|
Designation : |
Director |
|
Address : |
11, Akashneem Bunglows,
Vastrapur, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.12.1963 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00119503 |
|
|
|
|
Name : |
Mr. Nimish Hasmukh Bhai Chudgar |
|
Designation : |
Director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite, Ahmedabad
– 380015, Gujarat, India |
|
Date of Birth/Age : |
19.08.1960 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00212400 |
|
|
|
|
Name : |
Ms. Ruchi Nimishbhai Chudgar |
|
Designation : |
Whole Time Director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
26.09.1987 |
|
Date of Appointment : |
15.04.2008 |
|
DIN No.: |
02184075 |
|
|
|
|
Name : |
Mrs. Bina Nimish Chudgar |
|
Designation : |
Whole Time Director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.07.1964 |
|
Date of Appointment : |
04.02.2008 |
|
DIN No.: |
00314377 |
KEY EXECUTIVES
|
Name : |
Mr. Tejas |
|
Designation : |
Accounts Manager |
|
Name : |
Umesh Parikh and Associates |
|
Designation : |
Company Secretaries |
|
|
5-D, 5th Floor, Vardan
Exclusive, Next to Vimal House, Near Stadium Petrol Pump, Navrangpura,
Ahmedabad – 380 014, Gujarat, India |
|
Phone : |
91-79-2640 54 54, 264011 22 (O) |
|
E-mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Nimish Hasmukh Bhai Chudgar |
|
500000 |
|
Bina Nimish Chudgar |
|
1099500 |
|
Hasmukh K Chudgar |
|
100 |
|
Bindiben B. Chudgar |
|
100 |
|
Kusumben H. Chudgar |
|
100 |
|
Parulben U. Chudgar |
|
100 |
|
Ruchi N. Chudgar |
|
100 |
|
|
|
|
|
Total
|
|
1600000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacturing of corrugated boxes,
corrugated pallets, self-adhesive labels and foils. |
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Brazil ·
Egypt |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
South Africa ·
Australia ·
Finland |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS
As on 31.03.2012
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Cartons, Boxes and cases of Corrugated Paper and Paperboard and parts
there of |
|
Tones |
12000 |
7115 |
|
Self Adhesives Labels |
|
SQM |
1300000 |
1027078 |
GENERAL INFORMATION
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple,
Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India ·
ICICI Bank Limited ·
Citi Bank ·
Corporation Bank |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhadresh Shah and Associates Chartered Accountants |
|
Address : |
205-208, Ashoka Chambers, Opposite Reliance Fresh, Near HCG Hospital,
Mithakali Six Road, Ahmedabad – 380006, Gujarat, India |
|
Tel no.: |
91-79-26578954 |
|
Email : |
|
|
PAN No.: |
ACAPS7095K |
|
|
|
|
Group Companies : |
Intas Pharmaceuticals Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600000 |
Equity Shares |
Rs.10/- each |
Rs.16.000
Millions |
|
|
|
|
|
Notes:
Details of shares held by each shareholder holding more than 5% shares
|
Names of Shareholders |
31.03.2013 |
|
|
|
Number of Shares
Held |
% of holding in that class of shares |
|
Nimish H. Chudgar |
500000 |
31.25 |
|
Binaben N. Chudgar |
1099500 |
68.72 |
|
|
1599500 |
99.97 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
16.000 |
16.000 |
16.000 |
|
(b) Reserves & Surplus |
151.609 |
116.664 |
98.582 |
|
(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) |
167.609 |
132.664 |
114.582 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
168.853 |
127.885 |
100.840 |
|
(b) Deferred tax liabilities (Net) |
19.724 |
15.839 |
10.943 |
|
(c) Other long term liabilities |
0.250 |
0.882 |
0.877 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
188.827 |
144.606 |
112.660 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
111.399 |
40.407 |
28.601 |
|
(b) Trade payables |
127.880 |
90.676 |
115.264 |
|
(c) Other current liabilities |
0.216 |
0.246 |
0.369 |
|
(d) Short-term provisions |
14.751 |
9.846 |
1.410 |
|
Total Current
Liabilities (4) |
254.246 |
141.175 |
145.644 |
|
|
|
|
|
|
TOTAL |
610.682 |
418.445 |
372.886 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
281.824 |
203.256 |
173.525 |
|
(ii) Intangible Assets |
0.466 |
0.442 |
0.442 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.461 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
6.185 |
4.148 |
1.720 |
|
Total Non-Current
Assets |
288.480 |
207.851 |
176.153 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
65.142 |
35.059 |
66.383 |
|
(c) Trade receivables |
209.004 |
134.783 |
80.752 |
|
(d) Cash and cash equivalents |
8.358 |
7.810 |
27.666 |
|
(e) Short-term loans and advances |
39.698 |
32.942 |
21.932 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
322.202 |
210.594 |
196.733 |
|
|
|
|
|
|
TOTAL |
610.682 |
418.445 |
372.886 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
624.103 |
423.194 |
315.725 |
|
|
|
Other Income |
0.919 |
0.921 |
0.288 |
|
|
|
TOTAL (A) |
625.022 |
424.115 |
316.013 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
431.464 |
282.997 |
202.340 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock –in-trade |
0.816 |
(0.731) |
(1.765) |
|
|
|
Employee benefits Expenses |
28.207 |
20.005 |
11.721 |
|
|
|
Other Expenses |
88.298 |
67.272 |
69.131 |
|
|
|
TOTAL (B) |
548.785 |
369.543 |
281.433 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
76.237 |
54.572 |
34.580 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.679 |
15.251 |
7.675 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
59.558 |
39.321 |
26.905 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
10.787 |
9.929 |
6.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
48.771 |
29.392 |
20.544 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.825 |
11.311 |
10.705 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.946 |
18.081 |
9.839 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
57.263 |
39.182 |
29.343 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
92.209 |
57.263 |
39.182 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
23.898 |
Nil
|
Nil
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.84 |
11.30 |
0.61 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
800.00 |
Expected Sales ( 2014-2015 ) : Rs.1000.000 Millions
The above information has been parted by Mr. Tejas.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.59 |
4.26 |
3.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.81 |
6.95 |
6.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.99 |
7.02 |
5.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.22 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.67 |
1.27 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.49 |
1.35 |
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 |
16.000 |
16.000 |
16.000 |
|
Reserves & Surplus |
98.582 |
116.664 |
151.609 |
|
Net
worth |
114.582 |
132.664 |
167.609 |
|
|
|
|
|
|
long-term borrowings |
100.840 |
127.885 |
168.853 |
|
Short term borrowings |
28.601 |
40.407 |
111.399 |
|
Total
borrowings |
129.441 |
168.292 |
280.252 |
|
Debt/Equity
ratio |
1.130 |
1.269 |
1.672 |
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) |
|
Revenue from operations |
315.725 |
423.194 |
624.103 |
|
|
|
34.039 |
47.474 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
315.725 |
423.194 |
624.103 |
|
Profit/(Loss) After Tax |
9.839 |
18.081 |
34.946 |
|
|
3.12% |
4.27% |
5.60% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBTS : 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
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
Yes |
|
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 |
OPERATIONS:
The Gross income of the company for the year was Rs.625.022 Millions as
against Rs.424.115 Millions in the previous year and the profit for the year
after provision of taxes was Rs.34.945 Millions as against Rs.18.081 Millions
in the previous year respectively.
UNSECURED LOAN
|
Particular |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Binaben N. Chudgar |
2.000 |
0.000 |
|
Nimishbhai H. Chudgar |
104.500 |
49.500 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Trade Deposits |
|
|
|
True Value Paper Company (Advance Deposits) |
0.000 |
0.100 |
|
Jalaram Raw Material Supplier (Deposit) |
1.100 |
0.000 |
|
|
|
|
|
Total |
107.600 |
49.600 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10450447 |
21/07/2014 * |
470,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C14843155 |
|
2 |
10443331 |
21/07/2014 * |
450,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C14841977 |
* Date of charge
modification
FIXED ASSETS:
· Land
· Factory Building
· Plant and Machinery
· Electric Installation
· Office Equipments
· Furniture and Fixtures
· Material handling Equipments
· Computers
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
|
1 |
Rs.10.15 |
|
Euro |
1 |
Rs.79.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
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 |
|
47 |
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.