MIRA
INFORM REPORT
|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYNPOL PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
77, Guj Vepari Mahamandaludyogik Vasapet Limited, Odhav,
Ahmedabad – 382415, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
11.12.1973 |
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Com. Reg. No.: |
04-002440 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.000 Millions |
|
|
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|
CIN No.: [Company Identification
No.] |
U24299GJ1973PTC002440 |
|
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|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS00166F |
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|
|
|
PAN No.: [Permanent Account No.] |
AADCS9255P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of an Extensive Array
of Amino Resins, Polyamide Resins, Epoxy Hardeners, Acrylic Resins. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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. Financial position of the company is sound. Fundamental of the company
are healthy. Trade relations are reported as fair. Business is active. Payments
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.
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 wilfully 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.
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. Giren Shah |
|
Designation : |
Administrative Executive |
|
Contact No.: |
91-79-22901564 |
|
Date : |
02.12.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
77, Guj Vepari Mahamandaludyogik Vasapet Limited, Audyogic
Vasahat, Odhav, Ahmedabad – 382415, Gujarat, India |
|
Tel. No.: |
91-79-22901564 / 22901565 / 22900393 |
|
Fax No.: |
91-79-22901566 / 22901245 |
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E-Mail : |
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|
Website : |
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Location: |
Owned |
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Factory 2 : |
31-A/107, G. V. M. S. Audyogic Vasahat Limited, Odhav, Ahmedabad - 382415, Gujarat, India |
|
Tel. No.: |
91-79-22901564/ 65 |
|
Fax No.: |
91-79-2290156/ 22901245 |
|
|
|
|
Mumbai Office: |
D-101, Koteshwar Palace, Kole Dongari, Lane No. 4, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-26843527/ 26843463 |
|
Fax No.: |
91-22-26820404 |
|
E-Mail : |
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Vinay Ladharam Joshi |
|
Designation : |
Director |
|
Address : |
1502, Tivoli Center, Avenue, Hiranandani Gardens, Powai, Mumbai –
400076, Maharashtra, India |
|
Date of Birth/Age : |
21.04.1947 |
|
Date of Appointment : |
11.12.1973 |
|
DIN No.: |
00043600 |
|
|
|
|
Name : |
Mr. Manish Prabhashanker Joshi |
|
Designation : |
Director |
|
Address : |
Sector-5, Bungalow No.5, Kalhaar Bungalows, Shilaj, Ahmedabad –
380058, Gujarat, India |
|
Date of Birth/Age : |
25.08.1968 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
00046020 |
|
|
|
|
Name : |
Mr. Vinod Jesukhlal Kothari |
|
Designation : |
Chairman and Managing Director |
|
Address : |
5, Unique Park, Nandi Hills, Opposite ISRO Gate, Satelute Road, Ahmedabad
– 380015, Gujarat, India |
|
Date of Birth/Age : |
09.07.1934 |
|
Date of Appointment : |
11.12.1973 |
|
DIN No.: |
00169308 |
|
|
|
|
Name : |
Mr. Vikram Harsukh Kothari |
|
Designation : |
Director |
|
Address : |
10, Mount Eminence, 4th Floor, Off. Naoroji Gamadia Road,
Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1958 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
00601155 |
|
|
|
|
Name : |
Mr. Parag Prabhashanker Joshi |
|
Designation : |
Director |
|
Address : |
Sector-5, Bungalow No.5, Kalhaar Bungalows, Shilaj, Ahmedabad –
380058, Gujarat, India |
|
Date of Birth/Age : |
03.01.1967 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01685969 |
|
|
|
|
Name : |
Mr. Jesal Kirit Kothari |
|
Designation : |
Director |
|
Address : |
10, Ashni Co-operative Housing Society, Behind Aristo Ville, Satellite
Road, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
20.04.1979 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01685983 |
|
|
|
|
Name : |
Ms. Sujata Vinod Kothari |
|
Designation : |
Director |
|
Address : |
5, Unique Park, Nandi Hills, Opposite JSRo Gate, Satelute Road, Ahmedabad
– 380015, Gujarat, India |
|
Date of Birth/Age : |
29.09.1973 |
|
Date of Appointment : |
09.09.2007 |
|
DIN No.: |
02389614 |
|
|
|
|
Name : |
Mrs. Hira Prabhashanker Joshi |
|
Designation : |
Director |
|
Address : |
Sector-5, Bungalow No.5, Kalhaar Bungalows, Shilaj, Ahmedabad –
380058, Gujarat, India |
|
Date of Birth/Age : |
02.10.1942 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
01715503 |
KEY EXECUTIVES
|
Name : |
Mr. Giren Shah |
|
Designation : |
Administrative Executive |
|
|
|
|
Name : |
M/s. Keyur J. Shah and Associates |
|
Designation : |
Company Secretary |
|
Address : |
32, World Business House, Near Parimal Garden, Ellisbridge, Ahmedabad
– 380006, Gujarat, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTABHED.
As on 24.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of an Extensive Array of Amino
Resins, Polyamide Resins, Epoxy Hardeners, Acrylic Resins. |
|
|
|
|
Products : |
· Resins Products Polyamide Resins Acrylic Resins Polyvinyl Butyral Resins Epoxy Resins Reactive Diluents Ketone Formaldehyde Resins Hardeners and Accelerators |
|
|
|
|
Brand Names : |
Not Available |
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|
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|
Agencies Held : |
Not Available |
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Exports : |
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|
Countries : |
·
Canada ·
UAE ·
China ·
Sri Lanka ·
Bangladesh |
|
|
|
|
Imports : |
Not Divulged |
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|
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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
|
Suppliers : |
Not Divulged |
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|
|
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
150 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of India, GVMSAV Limited, Odhav
Branch, Odhav,, Ahmedabad - 382415, Gujarat, India Indian Oil Corporation Limited
Navdeep Ashram Road, Ahmedabad - 380009, Gujarat, India |
|
|
|
|
Facilities : |
Cash Credit of Rs. 20.000 Millions from State Bank of India |
|
|
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|
Auditors : |
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|
Name : |
Vijay Shah and Company Chartered Accountants |
|
Address : |
201, Samruddhi Building, Opposite Old Gujarat High Court, Ahmedabad – 380014, Gujarat, India |
|
E-Mail : |
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|
PAN No.: |
AACFV6045L |
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|
|
|
Consultants: |
|
|
Name : |
Pankaj R Shah and Associates Chartered Accountants |
|
Address : |
701-702, Regancy Plaza, Opposite Rahul Tower, Near Madhur Hall,
Anandnagar Cross Road, Satellite, Ahmedabad – 380015, Gujarat, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
· Bluebell Polymers Private Limited Superbond Adhesive Industries Bharat Resins Limited |
CAPITAL STRUCTURE
As on 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Isued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.100/-
each |
Rs. 3.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.000 |
3.000 |
3.000 |
|
(b) Reserves & Surplus |
319.250 |
251.636 |
211.280 |
|
(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) |
322.250 |
254.636 |
214.280 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.090 |
(0.006) |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.419 |
6.761 |
4.999 |
|
Total Non-current Liabilities (3) |
7.419 |
7.851 |
4.993 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
23.634 |
22.901 |
20.697 |
|
(c) Other current
liabilities |
7.445 |
7.998 |
10.058 |
|
(d) Short-term provisions |
5.565 |
12.645 |
11.995 |
|
Total Current Liabilities (4) |
36.644 |
43.544 |
42.750 |
|
|
|
|
|
|
TOTAL |
366.313 |
306.031 |
262.023 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
67.914 |
81.994 |
24.027 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
2.124 |
3.784 |
3.784 |
|
(c) Deferred tax assets (net) |
4.028 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
13.650 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
74.066 |
85.778 |
41.461 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
134.889 |
12.502 |
83.921 |
|
(b) Inventories |
51.011 |
43.388 |
39.662 |
|
(c) Trade receivables |
68.536 |
65.770 |
56.507 |
|
(d) Cash and cash
equivalents |
19.617 |
79.844 |
24.170 |
|
(e) Short-term loans and
advances |
18.100 |
18.590 |
16.219 |
|
(f) Other current assets |
0.094 |
0.159 |
0.083 |
|
Total Current Assets |
292.247 |
220.253 |
220.562 |
|
|
|
|
|
|
TOTAL |
366.313 |
306.031 |
262.023 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
436.457 |
382.409 |
351.291 |
|
|
|
Other Income |
14.179 |
13.041 |
7.957 |
|
|
|
TOTAL |
450.636 |
395.450 |
359.248 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
235.771 |
221.347 |
202.682 |
|
|
|
Cost of Raw Materials Sold |
2.283 |
3.475 |
4.181 |
|
|
|
Charges in Inventories of Finished Goods |
0.493 |
(3.017) |
(3.344) |
|
|
|
Employees Benefits Expenses |
34.873 |
34.894 |
27.470 |
|
|
|
Other Expenses |
55.738 |
50.576 |
47.025 |
|
|
|
TOTAL |
329.158 |
307.275 |
278.014 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
121.478 |
88.175 |
81.234 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.016 |
0.036 |
0.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
121.462 |
88.139 |
81.216 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.359 |
14.483 |
4.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
107.103 |
73.656 |
76.668 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.181 |
22.307 |
24.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
73.922 |
51.349 |
52.664 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
179.606 |
146.749 |
105.831 |
|
|
|
|
|
|
|
|
|
Less |
Excess Provision for I. Tax in Earlier Year |
2.798 |
0.463 |
6.214 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
11.007 |
7.500 |
7.500 |
|
|
|
Dividend |
3.000 |
9.000 |
9.000 |
|
|
|
Tax on Dividend |
0.510 |
1.529 |
1.460 |
|
|
|
TOTAL
|
14.517 |
18.029 |
17.960 |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
236.213 |
179.606 |
146.749 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
208.153 |
160.724 |
136.875 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
46.619 |
37.677 |
31.847 |
|
|
TOTAL IMPORTS |
46.619 |
37.677 |
31.847 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2464.07 |
1711.63 |
1755.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
16.94 |
13.43 |
14.99 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
27.83 |
23.06 |
23.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.74 |
24.37 |
29.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.29 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.98 |
5.06 |
5.16 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3.000 |
3.000 |
3.000 |
|
Reserves & Surplus |
211.280 |
251.636 |
319.250 |
|
Net
worth |
214.280 |
254.636 |
322.250 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
351.291 |
382.409 |
436.457 |
|
|
|
8.858 |
14.134 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
351.291 |
382.409 |
436.457 |
|
Profit |
52.664 |
51.349 |
73.922 |
|
|
14.99% |
13.43% |
16.94% |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
80027499 |
08/06/2010 * |
27,000,000.00 |
STATE BANK OF INDIA |
GVMSAV LIMITED, ODHAV BRANCH, ODHAV, AHMEDABAD - 382415, GUJARAT, INDIA |
A88322136 |
|
2 |
90111062 |
08/06/2010 * |
27,000,000.00 |
STATE BANK OF INDIA |
GVMSAV LIMITED, ODHAV BRANCH, ODHAV, AHMEDABAD - 382415, GUJARAT, INDIA |
A88322102 |
* Date of charge modification
FIXED ASSETS
·
Land
Building
Plant
and Machinery
Furniture
and Fixture
Office
Equipments
Computer
Electric
Installations
Vehicles
Technical
Book
Fire
Extinguisher
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared by
: |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
64 |
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.