MIRA INFORM REPORT
|
Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
LINCON POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
308, Shanti Mall, Near Satadhar Cross Road, Ghatlodia, Ahmedabad –
380061, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.03.1996 |
|
|
|
|
Com. Reg. No.: |
04-028973 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.075 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1996PTC028973 |
|
|
|
|
IEC No.: |
0803008597 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHML00266A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL4918P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of PP/HDPE Woven Sacks and Bags. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Rating constrained on account of competitive packaging industry and
volatile raw material prices. However, the rating reflects the vast experience of the promoters,
established track record of operations and sound liquidity position. Trade relations are fair. Business is active. Payment terms are slow
but correct. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities=BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
27.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities=A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
27.01.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-operative (91-79-27461493)
LOCATIONS
|
Registered Office : |
308, Shanti Mall, Near Satadhar Cross Road, Ghatlodia, Ahmedabad –
380061, Gujarat, India |
|
Tel. No.: |
91-79-27461493 / 27470603 |
|
Mobile No.: |
91-9898136125 (Mr. Sunil Kothari) |
|
Fax No.: |
91-79-27470812 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2700 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Block No. 38, Khatraj, Taluka- Kalol, District – Gandhinagar, Gujarat,
India |
|
Tel. No.: |
91-2764-281274 |
|
Fax No.: |
91-2764-281424 |
|
E-Mail : |
|
|
Area : |
9800 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
701/6A, 7th Floor, Krishna Green Land Park, Kasarvadavali
Junction, Ghod Bunder Road, Opposite Parshwanath Engineering College, Thane
(West), Thane - 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25970675 |
|
Fax No.: |
91-22-25970579 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Babubhai Kachrabhai Patel |
|
Designation : |
Chairman |
|
Address : |
111, Vaibhav Bunglow, Near Sun-N-Step Club, Sola Road, Ghatlodia,
Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
10.03.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.1999 |
|
DIN No : |
00229793 |
|
|
|
|
Name : |
Mr. Pareshbhai Babubhai Patel |
|
Designation : |
Director |
|
Address : |
111, Vaibhav Bunglow, Near Sun-N-Step Club, Sola Road, Ghatlodia,
Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
23.09.1976 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.1999 |
|
DIN No : |
00229834 |
|
|
|
|
Name : |
Mr. Bhaveshkumar Babubhai Patel |
|
Designation : |
Director |
|
Address : |
12/A, Malay Villa Bunglows, Opposite Silver Crust Bung, Sola Science City
Road, Ahmedabad – 380060, Gujarat, India
|
|
Date of Birth/Age : |
23.02.1979 |
|
Date of Appointment : |
24.09.2013 |
|
DIN No : |
00229870 |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Babubhai K. Patel |
282750 |
|
Pareshbhai B. Patel |
154150 |
|
Kamlaben B. Patel |
51627 |
|
Indumatiben l. Solanki |
2500 |
|
Nikitaben Patel |
6085 |
|
Anitaben P. Patel |
30700 |
|
Bhaveshbhai B. Patel |
15300 |
|
Laxmanbhai K. Patel |
14418 |
|
Vikrambhai M. Shah |
1500 |
|
Niravbhai P. Brahmbhatt |
2100 |
|
Sureshbhai K. Patel |
1600 |
|
S. M. Brothers (Proprietor Ranchodbhai Patel) |
100 |
|
Krupa Trading (Proprietor Shri Bansibhai Patel) |
100 |
|
Deepaliben Patel Jointly with Krupa Patel and Roopali Patel |
100 |
|
Parasbhai Patel Jointly with Varshaben Patel |
100 |
|
Adishbhai Patel |
100 |
|
Industrial Marketing, India (Proprietor Ram Avtar Agrawal) |
100 |
|
Divya Agrawal (H.U.F.) |
100 |
|
We Exim, India (Proprietor Vijaybhai Patel) |
50100 |
|
Hardikbhai D. Patel |
42950 |
|
Samir G. Patel |
47250 |
|
Shailesh R. Patel |
21275 |
|
Pushpaben G. Patel |
12500 |
|
Arvind B. Patel |
42500 |
|
Dhanesh B. Patel |
27500 |
|
|
|
|
Total |
807505 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
3.72 |
|
Directors or relatives of Directors |
96.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PP/HDPE Woven Sacks and Bags. |
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Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
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||||
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS AS ON 31.03.2012
|
Particulars |
Unit |
Installed
Capacity |
|
HDPE / PP Woven Sacks Fabrics and Others* |
MT |
6000 |
*Installed capacity is as certified by the management
|
Particulars |
Unit |
Actual
Production |
|
Woven Sacks |
Pcs. |
49944922 |
|
Fabrics |
Mt |
1136 |
|
Other Items* |
MT. |
1272 |
*Includes production of intermediates products
i.e. Tape (for sales)
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
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Customers : |
Not Divulged |
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|
No. of Employees : |
Information declined by the management |
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|
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Bankers : |
Punjab National Bank, Sola Road Branch, Ghatlodia, Ahmedabad - 380061, Gujarat, India |
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|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V K Soni and Company Chartered Accountants |
|
Address : |
501/B, |
|
PAN.: |
AADFV2811R |
|
|
|
|
Membership : |
-- |
|
|
|
|
Company in which KMP/ Relatives of KMP can exercise significant
influence : |
· Malay Plast Private Limited
|
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
807515 |
Equity Shares |
Rs.10/- each |
Rs.8.075 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 |
8.075 |
8.075 |
8.075 |
|
(b) Reserves & Surplus |
134.683 |
121.741 |
107.561 |
|
(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) |
142.758 |
129.816 |
115.636 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
62.877 |
66.720 |
75.083 |
|
(b) Deferred tax liabilities (Net) |
18.313 |
20.585 |
19.653 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
81.190 |
87.305 |
94.736 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
184.571 |
180.949 |
142.732 |
|
(b) Trade
payables |
35.362 |
11.364 |
37.440 |
|
(c) Other
current liabilities |
33.899 |
86.000 |
28.914 |
|
(d) Short-term
provisions |
1.657 |
2.390 |
0.947 |
|
Total Current
Liabilities (4) |
255.489 |
280.703 |
210.033 |
|
|
|
|
|
|
TOTAL |
479.437 |
497.824 |
420.405 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
146.439 |
152.927 |
134.909 |
|
(ii)
Intangible Assets |
1.039 |
0.843 |
0.908 |
|
(iii)
Capital work-in-progress |
0.000 |
0.202 |
17.065 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.591 |
8.103 |
3.217 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
159.069 |
162.075 |
156.099 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
93.970 |
55.590 |
84.887 |
|
(c) Trade
receivables |
181.688 |
161.921 |
116.448 |
|
(d) Cash
and cash equivalents |
5.627 |
15.923 |
12.996 |
|
(e)
Short-term loans and advances |
31.922 |
36.658 |
48.511 |
|
(f) Other
current assets |
7.161 |
65.657 |
1.464 |
|
Total
Current Assets |
320.368 |
335.749 |
264.306 |
|
|
|
|
|
|
TOTAL |
479.437 |
497.824 |
420.405 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
896.823 |
737.309 |
|
|
|
Other Income |
|
10.164 |
7.413 |
|
|
|
TOTAL (A) |
1047.369 |
906.987 |
744.722 |
|
|
|
|
(Due to new
Machines) |
||
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials
Consumed |
|
634.824 |
562.528 |
|
|
|
Purchases of Traded Goods |
|
86.433 |
24.295 |
|
|
|
Changes in inventories
of Finished Goods, Stock-in-Trade and Work-in-Progress |
|
(9.098) |
(8.631) |
|
|
|
Employee Benefit Expenses |
|
20.521 |
16.741 |
|
|
|
Other Expenses |
|
104.844 |
84.359 |
|
|
|
Prior period Expenditure |
|
0.000 |
0.000 |
|
|
|
Preliminary expenses Written off |
|
0.000 |
0.000 |
|
|
|
TOTAL (B) |
1008.987 |
837.524 |
679.292 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including
Financial Expenses] |
69.463 |
65.430 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
30.528 |
29.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.382 |
38.935 |
35.759 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
19.042 |
17.963 |
17.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.340 |
20.972 |
18.457 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.398 |
6.792 |
9.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
12.942 |
14.180 |
8.657 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
55.870 |
20.753 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
394.982 |
259.093 |
|
|
|
Capital Goods |
|
1.661 |
0.000 |
|
|
|
Spare and Parts |
|
0.083 |
0.711 |
|
|
TOTAL IMPORTS |
NA |
396.726 |
259.804 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.03 |
17.56 |
15.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.24 |
1.56 |
1.16 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
7.66 |
8.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.03 |
4.21 |
4.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.16 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.73 |
1.91 |
1.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.20 |
1.26 |
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 |
8.075 |
8.075 |
8.075 |
|
Reserves & Surplus |
107.561 |
121.741 |
134.683 |
|
Net
worth |
115.636 |
129.816 |
142.758 |
|
|
|
|
|
|
long-term borrowings |
75.083 |
66.720 |
62.877 |
|
Short term borrowings |
142.732 |
180.949 |
184.571 |
|
Total
borrowings |
217.815 |
247.669 |
247.448 |
|
Debt/Equity
ratio |
1.884 |
1.908 |
1.733 |
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 |
|
Total Income |
744.722 |
906.987 |
1047.369 |
|
|
|
21.789 |
15.478 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
744.722 |
906.987 |
1047.369 |
|
Profit |
8.657 |
14.180 |
12.942 |
|
|
1.16% |
1.56% |
1.24% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS ARE NOT AVAILABLE
(Rs.
In Millions)
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
NA |
14.067 |
18.861 |
|
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 |
No |
|
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
NOTE:
The Registered address of the company has been shifted from F-2, Aakansha
Appartments, Near Sola Railway Crossing, Ghatlodia, Ahmedabad – 380061,
Gujarat, India to the present address w.e.f. 29.01.2007.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Other loans and
advances |
43.632 |
33.395 |
|
|
|
|
|
Total |
43.632 |
33.395 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10025998 |
02/11/2006 |
32,500,000.00 |
PUNJAB NATIONAL BANK |
SOLA ROAD BRANCH, GHATLODIA, AHMEDABAD, GUJARAT - 380061, INDIA |
A06491955 |
|
2 |
80016174 |
31/05/2014 * |
218,700,000.00 |
PUNJAB NATIONAL BANK |
SOLA ROAD BRANCH, GHATLODIA, AHMEDABAD, GUJARAT - 380061, INDIA |
C06395909 |
|
3 |
90110571 |
29/05/2003 |
12,500,000.00 |
PUNJAB NATIONAL BANK |
SOLA ROAD BRANCH, SOLA BRANCH; CHAR RASTA; GHATLODIA, AHMEDBAD, GUJARAT - 380061, INDIA |
- |
|
4 |
90112555 |
26/02/2008 * |
45,000,000.00 |
PUNJAB NATIONAL BANK |
SOLA ROAD BRANCH, GHATLODIA, AHMEDABAD, GUJARAT - 380061, INDIA |
A34322578 |
|
5 |
90107784 |
10/04/2001 * |
7,500,000.00 |
PUNJAB NATIONAL BANK |
SHAHIBAG BRANCH, AHMEDBAD, GUJARAT, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land and Site Development
·
Building
·
Office Building
·
Plant and Machinery
·
Electric Installation
·
Furniture and Fixture
·
Office Equipment
·
Motor Car
·
Air Conditioner
·
Computer
·
Scooter
·
Wind Mill
·
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.61.88 |
|
|
1 |
Rs.97.02 |
|
Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.