MIRA INFORM REPORT
|
Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MWV INDIA PAPERBOARD PACKAGING PRIVATE LIMITED (w.e.f. 28.08.2014) |
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Formerly Known
As : |
MWV INDIA PAPERBOARD PACKAGING LIMITED RUBY MACONS LIMITED |
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Registered
Office : |
203/204, Angelina Apartments,
Saroj Road, Vile Parle (West), Mumbai – 400056, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.05.1986 |
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Com. Reg. No.: |
11-039768 |
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Rs. 33.318 Millions |
Rs. 33.318 Millions |
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|
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CIN No.: [Company Identification
No.] |
U28920MH1986PTC039768 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACR1939A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Kraft Papers, Paper Boards and Supplier
of paper and pulp making machineries and their parts. |
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No. of Employees
: |
Not Divulged |
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 5177000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. As per registrar of companies the date balance sheet (i.e. financial
filed) is shown as 31.03.2014 but the documents related to the financials of
2014 are not available from any source. As per available financials of
2013, fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as 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 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs arm
that ensures that companies file all the information required by the Companies
Act is the latest manifestation of a messy fight between a father and his
adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had illfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
Not Available
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. Purshottam |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-26186771 |
|
Date : |
01.12.20141 |
LOCATIONS
|
Registered Office : |
203/204, Angelina Apartments,
Saroj Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Tel. No.: |
91-22-26186771 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory 1 : |
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DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sandip Ganesh Kulkarni |
|
Designation : |
Director |
|
Address : |
31, Aashirwad, Prashant Nagar, Patharti Phata, Opposite Taj
Residency, Agra Road, Nashik - 422010, Maharashtra, India |
|
Date of Birth/Age : |
09.05.1976 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No. : |
05172491 |
|
|
|
|
Name : |
Mr. Piyush Ranjan |
|
Designation : |
Director |
|
Address : |
I-202, Crescent - I, Thewoods, Near Fountain In, Kalewadi
Phata, Wakad, Pune - 411027, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1971 |
|
Date of Appointment : |
30.11.2012 |
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DIN No. : |
02773879 |
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|
|
|
Name : |
Mr. Peter Christian Durette |
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Designation : |
Director |
|
Address : |
319, Wickham Glen Drive, Richmond Va, 232386161, United
States of America |
|
Date of Birth/Age : |
21.05.1973 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No. : |
06393740 |
KEY EXECUTIVES
|
Name : |
Mr. Purshottam |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
MWV Wadco India Private Limited, India |
3331769 |
|
Rashna Hoshang Khan |
1 |
|
Homair N. Vakil |
1 |
|
Yazdi Piroj Dandiwala |
1 |
|
Darius Kakalia |
1 |
|
Rajesh K. Satpalkar |
1 |
|
Siddharth S. Thacker |
1 |
|
Total |
3331775 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Kraft Papers, Paper Boards and
Supplier of paper and pulp making machineries and their parts. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Wholesalers, Retailers and Manufacturer |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India, MID Corporate Branch, Vapi - 396195, Gujarat, India · Citi Bank NA · ICICI Bank Limited ·
Bank of Baroda, Industrial Estate Branch,
Vapi, Gujarat, India |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte, 12, Dr A B Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400067, Maharashtra, India |
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PAN
: |
AABFD7919A |
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Holding Company : |
MWV Wadco India Private Limited, India |
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Ultimate Holding
Company : |
Mead West Vaco Corporation, United States |
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Fellow Subsidiary
Company: |
MWV Services Inc. United States |
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Other Related Party : |
Mehali Inc |
CAPITAL STRUCTURE
As on 30.09.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,331,775 |
Equity Shares |
Rs.10/- each |
Rs. 33.318 Millions |
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|
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 |
33.318 |
33.318 |
33.318 |
|
(b) Reserves & Surplus |
1778.649 |
1471.776 |
1208.638 |
|
(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) |
1811.967 |
1505.094 |
1241.956 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
30.000 |
123.000 |
|
(b) Deferred tax liabilities (Net) |
286.955 |
286.076 |
278.904 |
|
(c) Other long term
liabilities |
8.880 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
295.835 |
316.076 |
401.904 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
643.278 |
332.990 |
305.102 |
|
(b) Trade
payables |
186.372 |
105.688 |
139.071 |
|
(c) Other
current liabilities |
66.783 |
35.636 |
100.092 |
|
(d) Short-term
provisions |
0.037 |
9.293 |
2.111 |
|
Total Current
Liabilities (4) |
896.470 |
483.607 |
546.376 |
|
|
|
|
|
|
TOTAL |
3004.272 |
2304.777 |
2190.236 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1119.017 |
1168.053 |
1177.014 |
|
(ii)
Intangible Assets |
1.551 |
4.286 |
6.695 |
|
(iii)
Capital work-in-progress |
543.295 |
100.010 |
10.709 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
176.299 |
33.465 |
95.269 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1840.163 |
1305.815 |
1289.687 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
468.630 |
391.482 |
297.732 |
|
(c) Trade
receivables |
599.682 |
517.542 |
498.475 |
|
(d) Cash and
cash equivalents |
13.880 |
27.418 |
14.520 |
|
(e)
Short-term loans and advances |
73.011 |
55.824 |
89.822 |
|
(f) Other
current assets |
8.906 |
6.696 |
0.000 |
|
Total
Current Assets |
1164.109 |
998.962 |
900.549 |
|
|
|
|
|
|
TOTAL |
3004.272 |
2304.777 |
2190.236 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4302.866 |
4181.207 |
3725.665 |
|
|
|
Other Income |
11.833 |
15.444 |
20.071 |
|
|
|
TOTAL (A) |
4314.699 |
4196.651 |
3745.736 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2632.007 |
2577.670 |
2243.380 |
|
|
|
Purchases of Stock-in-Trade |
7.693 |
48.464 |
45.557 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.806 |
(5.526) |
(3.600) |
|
|
|
Employees benefits expense |
148.132 |
118.552 |
109.185 |
|
|
|
Other expenses |
979.180 |
934.620 |
837.681 |
|
|
|
TOTAL (B) |
3767.818 |
3673.780 |
3232.203 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
546.881 |
522.871 |
513.533 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.667 |
66.796 |
52.354 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
534.214 |
456.075 |
461.179 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
88.962 |
86.513 |
83.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
445.252 |
369.562 |
377.271 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
138.379 |
104.489 |
89.764 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
306.873 |
265.073 |
287.507 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
771.680 |
508.507 |
322.900 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
100.000 |
|
|
|
Dividend |
0.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
1.900 |
1.900 |
|
|
BALANCE CARRIED
TO THE B/S |
1078.553 |
771.680 |
508.507 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
41.298 |
46.484 |
51.027 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
|
1148.285 |
|
|
|
Stores and Spares |
|
|
11.279 |
|
|
|
Capital Goods |
|
|
7.439 |
|
|
|
TOTAL IMPORTS |
NA |
NA |
1167.003 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
92.10 |
79.56 |
86.29 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
5200.000 |
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.13 |
6.34 |
7.72 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.71 |
12.51 |
13.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.09 |
16.76 |
17.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.25 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.36 |
0.24 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
2.07 |
1.65 |
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 |
33.318 |
33.318 |
33.318 |
|
Reserves & Surplus |
1208.638 |
1471.776 |
1778.649 |
|
Net worth |
1241.956 |
1505.094 |
1811.967 |
|
|
|
|
|
|
long-term borrowings |
123.000 |
30.000 |
0.000 |
|
Short term borrowings |
305.102 |
332.990 |
643.278 |
|
Total borrowings |
428.102 |
362.990 |
643.278 |
|
Debt/Equity ratio |
0.345 |
0.241 |
0.355 |
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 |
3725.665 |
4181.207 |
4302.866 |
|
|
|
12.227 |
2.910 |
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 |
3725.665 |
4181.207 |
4302.866 |
|
Profit |
287.507 |
265.073 |
306.873 |
|
|
7.72% |
6.34% |
7.13% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
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 |
No |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
400.000 |
0.000 |
|
Total |
400.000 |
0.000 |
CORPORATE
INFORMATION:
Subject incorporated in the year 1986, is in the business of manufacturing of kraft papers (test liner and fluting papers) and supply of paper and pulp making machineries and their parts.
PERFORMANCE REVIEW:
During the year, the company’s inherent capabilities and superior product quality/delivery stood the company in good stead in a difficult operating environment. Overall, Sales increased by 2.81% though the profitability was under some pressure due to high inflation and increasing costs.
MACHINERY SEGMENT:
The share of machinery division in total sales and profit has also progressively declined in past years.
POWER GENERATION:
The company has generated 406.05 lacs units (KWH) of power during the year against 390.88 lacs (KWH) in the previous year for captive consumption. The company’s main objective is to operate a modern, cost-effective, energy efficient and environment friendly production plant. The management is committed towards Conservation of Energy.
FUTURE OUTLOOK:
The global environment and economic activity is likely to continue to be an area of concern, especially due to depreciation of Indian Rupee against global currencies and inflationary pressures.
Despite this scenario, Indian economy stands on a strong footing because of lower export dependency, favourable demographics and rising middle class income expected to result into improved living standards.
The Indian Packaging industry is set to witness good growth, with policy changes and the growth in Indian retail environment. Increasing urbanization and low penetration of packaged products offers good opportunities.
The Company has embarked on an expansion and setting up a new production line (PM4) with better technology and better product mix. The Machine has already been procured and the civil work for proposed expansion with additional production line (PM#4) has commenced at site. On startup of this Paper Machine, RML will be able to capitalize on its brand image and expand its customer base.
The company has made Environment and Safety a subject of focus. Special efforts are being made at all manufacturing facilities to improve the standards of Environment and Safety.
They are confident that these initiatives will results in a better performance for their company in the coming years.
INDEX OF CHARGES
|
S.No. |
Charge Id |
Date Of Charge
Creation/Modification |
Charge Amount
Secured |
Charge Holder |
Address |
Service Request
Number (Srn) |
|
1 |
90225295 |
16/08/2012 * |
721,600,000.00 |
State Bank Of India |
MID Corporate Branch, Vapi, Gujarat - 396195, India |
B56452154 |
|
2 |
90237453 |
12/12/2005 * |
117,800,000.00 |
State Bank Of India |
Industrial Township Branch, GIDC, Vapi, Gujarat - |
- |
|
3 |
90225158 |
30/06/2012 * |
721,600,000.00 |
State Bank Of India |
MID Corporate Branch, Vapi, Gujarat - 396195, India |
B43038009 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Other Equipments
Intangible Assets
· Computer Software
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.61.92 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
SMT |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
|
|
--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.