MIRA
INFORM REPORT
|
Report Date : |
11.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYNPOL PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
77, Guj Vepari Mahamandaludyogik Vasapet Limited, Odhav,
Ahmedabad – 382415, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.12.1973 |
|
|
|
|
Com. Reg. No.: |
04-002440 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299GJ1973PTC002440 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS00166F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS9255P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of an Extensive Array of Amino Resins, Polyamide Resins, Epoxy Hardeners, Acrylic Resins, Phenolic Resins, Ketonic Resin, Alkyd Resins, etc. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and well-established company having fine track
record. Financial position of the company seems to be healthy. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. The company can be considered good 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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. Giren Shah |
|
Designation : |
Administrative Executive |
|
Contact No.: |
91-79-22901564 |
|
Date : |
11.12.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
77, Guj Vepari Mahamandaludyogik Vasapet Limited, Odhav,
Ahmedabad – 382415, Gujarat, India |
|
Tel. No.: |
91-79-22901564 / 22901565 / 22900393 |
|
Fax No.: |
91-79-22901566 / 22901245 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
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 : |
03.07.2007 |
|
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 : |
03.07.2007 |
|
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 : |
03.07.2007 |
|
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 : |
03.07.2007 |
|
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 : |
31.07.2007 |
|
DIN No.: |
01715503 |
KEY EXECUTIVES
|
Name : |
Mr. Giren Shah |
|
Designation : |
Administrative Executive |
|
|
|
|
Name : |
Keyur J Shah and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
32, World Business House, Near Parmal Garden, Ellisbidge, Ahmedabad –
380006, Gujarat, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of an Extensive Array of Amino Resins,
Polyamide Resins, Epoxy Hardeners, Acrylic Resins, Phenolic Resins, Ketonic
Resin, Alkyd Resins, etc. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
· Amino Poymide Resins Acrylic Alkyd Phenolic Resins |
|
Countries : |
· Canada UAE China Sri Lanka Bangladesh |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||
|
Bankers : |
State Bank of India, GVMSAV Limited, Odhav Branch, Odhav,,
Ahmedabad – 382415, Gujarat, India |
|||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Vijay Shah and Company Chartered Accountants |
|
Address : |
201, Samruddhi Building, Opposite Old Gujarat High Court, Ahmedabad – 380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFV6045L |
|
|
|
|
Consultants 1 : |
|
|
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 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, 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 |
211.279 |
|
(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 |
214.279 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
1.091 |
-0.007 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.419 |
6.761 |
5.000 |
|
Total
Non-current Liabilities (3) |
7.419 |
7.852 |
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 |
10.059 |
|
(d) Short-term provisions |
5.565 |
12.645 |
11.995 |
|
Total
Current Liabilities (4) |
36.644 |
43.544 |
42.751 |
|
|
|
|
|
|
TOTAL |
366.313 |
306.032 |
262.023 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
67.914 |
81.996 |
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 |
85.780 |
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 |
19.616 |
79.844 |
24.171 |
|
(e) Short-term loans and
advances |
18.100 |
18.590 |
16.218 |
|
(f) Other current assets |
0.095 |
0.158 |
0.083 |
|
Total
Current Assets |
292.247 |
220.252 |
220.562 |
|
|
|
|
|
|
TOTAL |
366.313 |
306.032 |
262.023 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
436.458 |
382.409 |
351.291 |
|
|
Other Income |
14.179 |
13.041 |
7.957 |
|
|
TOTAL
(A) |
450.637 |
395.450 |
359.248 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
235.771 |
221.347 |
202.682 |
|
|
Cost of Rawmaterial Sold |
2.283 |
3.475 |
4.181 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.493 |
(3.017) |
(3.345) |
|
|
Employees benefits expense |
34.873 |
34.894 |
27.471 |
|
|
Other expenses |
55.738 |
50.576 |
47.025 |
|
|
TOTAL
(B) |
329.158 |
307.275 |
278.014 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
121.479 |
88.175 |
81.234 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.016 |
0.036 |
0.018 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
121.463 |
88.139 |
81.216 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
14.359 |
14.483 |
4.548 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
107.104 |
73.656 |
76.668 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
33.182 |
22.306 |
24.004 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
73.922 |
51.350 |
52.664 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
179.606 |
146.750 |
105.832 |
|
|
|
|
|
|
|
Add |
Excess
Provision for I Tax in Earlier year |
2.799 |
0.464 |
0.000 |
|
|
|
|
|
|
|
Less |
Short Provision for I Tax in Earlier year |
0.000 |
0.000 |
6.214 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed dividend |
3.000 |
9.000 |
9.000 |
|
|
Tax on Proposed Dividend |
0.509 |
1.530 |
1.460 |
|
|
Transfer to General Reserve |
11.007 |
7.500 |
7.500 |
|
|
Balance
Carried to the B/S |
236.213 |
179.606 |
146.750 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
208.153 |
160.724 |
136.875 |
|
|
TOTAL
EARNINGS |
208.153 |
160.724 |
136.875 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
46.619 |
37.679 |
31.847 |
|
|
TOTAL
IMPORTS |
46.619 |
37.679 |
31.847 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2464.00 |
1712.00 |
1755.00 |
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 (PBIDT/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 |
211.279 |
251.636 |
319.250 |
|
Net
worth |
214.279 |
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 |
436.458 |
|
|
|
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 |
436.458 |
|
Profit |
52.664 |
51.350 |
73.922 |
|
|
14.99% |
13.43% |
16.94% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 LTD,ODHAV BRANCH,, ODHAV,, AHMEDABAD, GUJA |
A88322136 |
|
2 |
90111062 |
08/06/2010 * |
27,000,000.00 |
STATE BANK OF INDIA |
GVMSAV LTD,ODHAV BRANCH,, ODHAV,, AHMEDABAD, GUJA |
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.61.95 |
|
|
1 |
Rs.97.16 |
|
Euro |
1 |
Rs.76.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.