MIRA INFORM REPORT
|
Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
FENIX PROCESS TECHNOLOGIES PRIVATE LIMITED |
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|
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Registered
Office : |
Malini, K-6/1, Erandawana Co-Operative Housing Society, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
19.08.2006 |
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Com. Reg. No.: |
11-128923 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U28999PN2006PTC128923 |
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|
IEC No.: |
3106013796 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PNEF00937G |
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PAN No.: [Permanent Account No.] |
AABCF0088M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Engineering Products. |
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No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. 23AC for the year 2014 could not be made available from any source. As per available financials, management has seen a better increase in
its sales volume as well as net profit during 2013. The rating also take into consideration the working capital intensive
operations and huge external borrowing recorded during the year. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. The company can be considered for business dealings with some caution. |
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 |
CRISIL NSIC |
|
Rating |
SE2B |
|
Rating Explanation |
High performance capability and moderate financial
strength |
|
Date |
29.09.2014 |
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 DECLINED BY
|
Name : |
Mr. Yogesh |
|
Designation : |
Account Officer |
|
Contact No.: |
91-20-65008773 |
|
Date : |
11.12.2014 |
LOCATIONS
|
Registered Office : |
Malini, K-6/1, Erandawana Co-Operative Housing Society, |
|
Tel. No.: |
91-20-65008772/ 3 / 25458454 |
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Fax No.: |
91-20-25458454 |
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E-Mail : |
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|
Website : |
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|
Area : |
2000 sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.144 - A, Survey No. 7, PCNTDA, MIDC, Bhosari, Pune - 411026, |
|
Tel. No.: |
91-20-30620371/ 66304437/ 38 |
|
Fax No.: |
91-20-30620730/ 66304439 |
|
Area : |
10000 sq. ft |
|
Location : |
Leased |
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|
|
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Projects
Division : |
16, Amrut Pak, Kalyani Nagar Junction, Nagar Road, Pune – 411006,
Maharashtra, India |
|
Tel. No.: |
91-20-26682845 |
|
Fax No.: |
91-20-26682844 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Venkateshwara Pitchhla Mothukuri
Rao |
|
Designation : |
Managing Director |
|
Address : |
3 MIT Gardens Opposite Nagarwal School, Kalyani Nagar, Pune – 411006, |
|
Date of Birth/Age : |
15.03.1965 |
|
Date of Appointment : |
01.09.2013 |
|
DIN No.: |
00373812 |
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|
|
|
Name : |
Mr. Naganjaneyulu Kotaiah Donta |
|
Designation : |
Director |
|
Address : |
1-105, Opposite Driving School Gudavalli, VJ Rural Mandal,
Krishana-521104, |
|
Date of Birth/Age : |
04.01.1964 |
|
Date of Appointment : |
31.01.2009 |
|
DIN No.: |
02496657 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh |
|
Designation : |
Account Officer |
|
|
|
|
Name : |
Mr. Arun M. Deshpande |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Venkateshwara Pitchhla
Mothukuri Rao |
1589800 |
98.75 |
|
Naganjaneyulu Kotaiah Donta |
20200 |
1.25 |
|
Total |
1610000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage Of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Engineering Products. |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
· Virchow Petro Chemical Private Limited · PT INGENIOUS · 7Divis Laboratories Limited · HAT International · Hetero Labs Limited |
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No. of Employees : |
70 (Approximately) |
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Bankers : |
· Central Bank of India, Pune Camp Branch, 317, Mahatma Gandhi Road, Pune - 411001, Maharashtra, India · HDFC Bank Limited |
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Facilities : |
Cash Credit = Rs.58.000 Millions (From Central Bank of
India)
NOTE LONG TERM BORROWINGS Term loans from banks referred above to the extent of: Rs.37.116 Millions are secured by charged on block of assets purchased
/ constructed from loan and further secured by leasehold land at MIDC, Jejuri
and mortgage of personal property and personal guarantee of managing
directors and his spouse. Maturity profile of secured term loan are as set out below: From banks – 1-2 Years Rs.6.526 Millions 2-3 Years Rs.4.683 Millions 3-4 years Rs.4.683 Millions Beyond 4 Years: Rs.14.050 Millions SHORT TERM BORROWINGS Working capital
loans from banks secured by stock of raw material, work-in progress, finished
goods and book debts and further secured by leasehold land at MIDC, Jejuri and mortgage of
personal property and personal guarantee of managing directors and his
spouse. |
|
|
|
|
Name : |
Risbud and Apte Chartered Accountants |
|
Address : |
5 Ankur, 802-B, Bhandarkar Road, Pune - 411004, Maharashtra, India |
|
Tel. No.: |
91-22-25661180 |
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Income-tax
PAN of auditor or auditor's firm : |
AAZPPR9471R |
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|
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Associates/Subsidiaries
: |
-- |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,610,000 |
Equity Shares |
Rs.10/- each |
Rs.16.100 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
|
|
|
|
|
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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
24.410 |
13.430 |
6.162 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
6.100 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
40.510 |
23.430 |
16.162 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
29.942 |
5.247 |
9.096 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.583 |
2.111 |
1.833 |
|
Total Non-current
Liabilities (3) |
33.525 |
7.358 |
10.929 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
118.026 |
61.857 |
32.918 |
|
(b) Trade
payables |
21.298 |
14.380 |
24.707 |
|
(c) Other
current liabilities |
15.878 |
13.025 |
10.344 |
|
(d) Short-term
provisions |
0.963 |
0.260 |
0.000 |
|
Total Current
Liabilities (4) |
156.165 |
89.522 |
67.969 |
|
|
|
|
|
|
TOTAL |
230.200 |
120.310 |
95.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
28.931 |
32.844 |
36.818 |
|
(ii)
Intangible Assets |
1.020 |
0.703 |
0.839 |
|
(iii)
Capital work-in-progress |
12.194 |
0.491 |
0.000 |
|
(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) |
2.734 |
1.259 |
0.770 |
|
(d) Long-term Loan and Advances |
42.288 |
14.237 |
1.672 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
87.167 |
49.534 |
40.099 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
70.237 |
42.887 |
30.883 |
|
(c) Trade
receivables |
28.105 |
10.994 |
15.871 |
|
(d) Cash
and cash equivalents |
16.154 |
1.842 |
2.164 |
|
(e)
Short-term loans and advances |
28.324 |
14.963 |
5.986 |
|
(f) Other
current assets |
0.213 |
0.090 |
0.057 |
|
Total
Current Assets |
143.033 |
70.776 |
54.961 |
|
|
|
|
|
|
TOTAL |
230.200 |
120.310 |
95.060 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
241.316 |
150.781 |
102.159 |
|
|
|
|
Other Income |
0.740 |
0.886 |
1.467 |
|
|
|
|
TOTAL (A) |
242.056 |
151.667 |
103.626 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Material Consumption |
131.491 |
83.777 |
48.875 |
|
|
|
|
Changes in Inventories of Finished Goods, Work-in-Progress and
Stock-in-Trade |
(17.617) |
(15.352) |
0.819 |
|
|
|
|
Employee Benefits Expense |
30.314 |
14.422 |
15.875 |
|
|
|
|
Others |
61.466 |
46.222 |
36.384 |
|
|
|
|
TOTAL (B) |
205.654 |
129.069 |
101.953 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.402 |
22.598 |
1.673 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
11.844 |
7.662 |
5.370 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
24.558 |
14.936 |
3.697 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
7.982 |
7.538 |
5.527 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
16.576 |
7.398 |
(9.224) |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
5.596 |
0.130 |
0.212 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
10.980 |
7.268 |
(9.436) |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.430 |
6.162 |
15.598 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
24.410 |
13.430 |
6.162 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
137.892 |
58.694 |
16.909 |
|
|
|
|
Service income |
0.402 |
0.704 |
0.255 |
|
|
|
TOTAL EARNINGS |
138.294 |
59.398 |
17.164 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
|
|
|
||
|
|
Basic |
10.980 |
7.27 |
NA |
||
|
|
Diluted |
6.82 |
7.27 |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.55 |
4.82 |
-9.24 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.08 |
14.99 |
1.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.70 |
6.24 |
-9.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.32 |
-0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.65 |
2.86 |
2.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
0.79 |
0.81 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
6.162 |
13.430 |
24.410 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
6.100 |
|
Net
worth |
16.162 |
23.430 |
40.510 |
|
|
|
|
|
|
long-term borrowings |
9.096 |
5.247 |
29.942 |
|
Short term borrowings |
32.918 |
61.857 |
118.026 |
|
Total
borrowings |
42.014 |
67.104 |
147.968 |
|
Debt/Equity
ratio |
2.600 |
2.864 |
3.653 |
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 |
102.159 |
150.781 |
241.316 |
|
|
|
47.594 |
60.044 |
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 |
102.159 |
150.781 |
241.316 |
|
Profit |
(9.436) |
7.268 |
10.980 |
|
|
(9.24%) |
4.82% |
4.55% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
31.03.2011 (Rs. In Millions) |
|
|
|
|
|
|
Current maturities of long term debt |
7.173 |
3.849 |
3.849 |
|
|
|
|
|
|
Total |
7.173 |
3.849 |
3.849 |
|
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
INDEX OF CHARGE
|
SR. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10476445 |
01/02/2014 |
5,197,825.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B95864740 |
|
2 |
10390916 |
24/12/2013 * |
70,000,000.00 |
CENTRAL BANK OF INDIA |
317, MAHATMA GANDHI, ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B95971750 |
|
3 |
10390915 |
05/11/2012 |
6,000,000.00 |
CENTRAL BANK OF INDIA |
317, MAHATMA GANDHI, ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B63706139 |
|
4 |
10384685 |
22/10/2012 |
44,000,000.00 |
CENTRAL BANK OF INDIA |
317, MAHATMA GANDHI, ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B61452421 |
|
5 |
10373151 |
24/12/2013 * |
12,500,000.00 |
CENTRAL BANK OF INDIA |
317, MAHATMA GANDHI, ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B95970992 |
|
6 |
10373149 |
24/12/2013 * |
84,000,000.00 |
CENTRAL BANK OF INDIA |
317, MAHATMA GANDHI, ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B96097316 |
|
7 |
10205969 |
23/02/2010 |
3,775,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
A80832116 |
|
8 |
10205293 |
20/01/2010 |
4,000,000.00 |
CENTRAL BANK OF INDIA |
PUNE CAMP BRANCH, 317, M.G. ROAD, PUNE, MAHARASHTRA - 411001, INDIA |
A80462864 |
|
9 |
10201324 |
24/12/2009 |
9,500,000.00 |
CENTRAL BANK OF INDIA |
317, MAHATMA GANDHI ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A78660248 |
|
10 |
10063239 |
24/12/2013 * |
58,000,000.00 |
CENTRAL BANK OF INDIA |
317, MAHATMA GANDHI, ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B95971313 |
|
11 |
10063214 |
28/06/2007 |
1,500,000.00 |
CENTRAL BANK OF INDIA |
317,MAHATMA GANDHI ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A20606679 |
|
12 |
10063213 |
28/06/2007 |
5,000,000.00 |
CENTRAL BANK OF INDIA |
317,MAHATMA GANDHI ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A20606190 |
|
13 |
10063238 |
28/06/2007 |
5,000,000.00 |
CENTRAL
BANK OF INDIA |
317,MAHATMA
GANDHI ROAD CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A20620118 |
*Date of modification Charges
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Term loan form
others |
0.000 |
0.204 |
|
Total |
0.000 |
0.204 |
OPERATIONS
The unit has
received very good response and the Directors are hopeful for better working
for next years.
The Company is planning
for some expansion in the forth‐coming years, which will be implemented from the current year itself.
The Directors are hopeful for the good business in upcoming years.
FIXED ASSETS
TANGIBLE ASSETS
· Leasehold Land (Jejuri)
·
Plant and Machinery
·
Office Equipment
·
Computers
·
Furniture and Fixture
·
Leasehold Improvement
·
Vehicle
INTANGIBLE ASSETS
· 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.62.21 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.77.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.