MIRA
INFORM REPORT
|
Report Date : |
24.12.2014 |
|
|
|
|
Tel. No.: |
91-278-2445415/37 |
IDENTIFICATION DETAILS
|
Name : |
MADHU SILICA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 147, GIDC Estate, Village Vartej, |
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.10.1987 |
|
|
|
|
Com. Reg. No.: |
04-010073 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.97.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299GJ1987PTC010073 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM4381J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Precipitated Silica’s. |
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|
|
|
No. of Employees
: |
800 (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 a well-established company having fine track record. The rating reflects MSPL’s well-established operations and its
leadership position in the domestic precipitated slica industry supported by
healthy financial risk profile and decent profitability margins of the
company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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 |
CARE |
|
Rating |
Long term Bank facilities : AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
12.08.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
12.08.2014 |
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 PARTED BY
|
Name : |
Mr. Pravin Parmar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9227773021 |
|
Date : |
24.12.2014 |
LOCATIONS
|
Registered/ Head Office/ Factory 1: |
Plot No. 147, GIDC Estate, Village Vartej, Bhavangar – 364060, Gujarat, India |
|
Tel. No.: |
91-278-2541766/ 2541866/ 2939550/ 2939560/2540800/3209029/3209154 |
|
Mobile No.: |
91-9227773021 (Mr. Pravin) |
|
Fax No.: |
91-278-2541200 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 2 : |
53, 55, 56 – B, G.I.D.C, Chitra Industrial Estate, Bhavnagar – 364004, Gujarat, India |
|
Tel. No.: |
91-278-2445415/ 37/ 2446263/ 6161 |
|
Fax No.: |
91-278-2446159 |
|
|
|
|
Factory 3: |
40, GIDC, Chitra, Bhavnagar – 364004, Gujarat, India |
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|
|
|
Marketing Offices 1 : |
Delhi Office : 1104, Devika Tower, 6-Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-46542225/ 6/ 7/ 8 |
|
Fax No.: |
91-11-46542229 |
|
E-Mail : |
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|
Marketing Offices 2 : |
Mumbai Office : 6, "Suyog", Gokhala Road (N), Dadar, Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-24323065/ 28221770/ 24228865 |
|
Fax No.: |
91-22-28376184 |
|
E-Mail : |
DIRECTORS
As on 19.07.2014
|
Name : |
Mr. Rameshchandra Vinaychand Shah |
|
Designation : |
Managing director |
|
Address : |
1899/A, Vasudha, Opposite Akash Ganga Flats, New Rupani Circle, Bhavnagar - 364001, Gujarat, India |
|
Date of Birth/Age : |
14.08.1945 |
|
Qualification : |
B.Sc. |
|
Experience : |
42 Years |
|
Date of Appointment : |
20.10.1987 |
|
PAN No.: |
AJBPS3136R |
|
DIN No.: |
00062983 |
|
|
|
|
Name : |
Mr. Darshak Rameshchandra Shah |
|
Designation : |
Director |
|
Address : |
1899/A Vasudha, Opposite Akash Ganga Flats, Rupani Circle, Bhavnagar – 364002, Gujarat, India |
|
Date of Birth/Age : |
02.01.1974 |
|
Qualification : |
B. Tech. (Chem) |
|
Experience : |
16 Years |
|
Date of Appointment : |
02.09.1997 |
|
PAN No.: |
AGYPS8543E |
|
DIN No.: |
00063063 |
|
|
|
|
Name : |
Mr. Dattatray Anant Vartak |
|
Designation : |
Director |
|
Address : |
202, B Wing, Alok Apartment, Mahant Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1934 |
|
Date of Appointment : |
20.11.1987 |
|
DIN No.: |
00085059 |
|
|
|
|
Name : |
Neepa Udaykant Mehta |
|
Designation : |
Director |
|
Address : |
102 - Panna Tower, Plot No. 1940-B, Rupani, Bhavnagar – 364001, Gujarat, India |
|
Date of Birth/Age : |
26.01.1968 |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
ACFPM7152E |
|
DIN No.: |
01780860 |
KEY EXECUTIVES
|
Name : |
Mr. Pravin Parmar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ramesh V Shah |
|
232201 |
|
Ramesh V. Shah
(HUF) |
|
133063 |
|
Kalpanaben R. Shah
|
|
89302 |
|
Darshak R shah |
|
253626 |
|
Reena D. Shah |
|
20129 |
|
R.V. Shah Family
Trust, India |
|
36000 |
|
Darshak Finstock
Private Limited, India |
|
45045 |
|
Bharat P. Raut |
|
9600 |
|
Bharat P. Raut
(HUF) |
|
1440 |
|
Vidya B. Raut |
|
7680 |
|
Manas B. Raut |
|
480 |
|
Charumati Mehta |
|
39345 |
|
Ragini A Dhru / Avinash V. Dhru |
|
1700 |
|
Jhankhana V. Vora / Viral C. Vora |
|
3363 |
|
Kalyani P. Vohra/ Prakash A. Vohra |
|
2019 |
|
Shivani T Mehta/ Tushar H. Mehta |
|
2000 |
|
Neepa U. Mehta/ Charumati U. Mehta |
|
3229 |
|
Dattarai Vartak |
|
5864 |
|
Ajita Patil |
|
12472 |
|
Prasad D. Vartak |
|
5864 |
|
Shardaben Shastry |
|
21964 |
|
Ramesh R. Shastry |
|
24674 |
|
Nalini S. Shastry |
|
2509 |
|
Vaibhav S. Shastry |
|
2422 |
|
Chetana S. Shastry |
|
2421 |
|
Chitra R. Shastry |
|
11588 |
|
Total |
|
970000 |
Equity Share Break up (Percentage of Total Equity)
As on 19.07.2014
|
Category |
Percentage |
|
Bodies corporate |
4.64 |
|
Directors or relatives of Directors |
86.62 |
|
Other top fifty shareholders |
8.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Precipitated Silica’s. |
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|
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|
Brand Names : |
Not Divulged |
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|
Agencies Held : |
Not Divulged |
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|
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Exports : |
|
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Products : |
Finished Goods |
|
Countries : |
· China · Nigeria · Asian Country · Europe · Middle East |
|
|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
· USA · Sweden · Germany |
|
|
|
|
Terms : |
|
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Selling : |
Cash and Advance Payment |
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|
|
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
800 (Approximately) |
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Bankers : |
· State Bank of Saurashtra, Chitra Industrial Estate Branch, Chitra, Bhavnagar - 364001, Gujarat, India · State Bank of India, Chitra Industrial Estate Branch, Bhavnagar, Gujarat, India ·
HDFC Bank, Vaghawadi Branch, Bhavnagar,
Gujarat, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
P. G. Hemani And Company Chartered Accountants |
|
Address : |
"ARISTO" 2nd Floor, Near Radha Mandir, Waghawadi
Road, Bhavnagar – 364001, Gujarat, India
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP1906A |
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|
|
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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|
|
Sister Concern: |
·
Darshak
Finstock Private Limited, India ·
R.V.
Shah Family Trust, India · Aquagel Chemicals (Bhavnagar) Private Limited, India [U24200GJ2012PTC070324] |
|
|
|
|
Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their relatives: |
· Aquagel Chemicals Private Limited, India [U24110MH1990PTC254953] · Darshak Finstock Private Limited, India [U65910GJ1991PTC015449] |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
970000 |
Equity Shares |
Rs.100/- each |
Rs. 97.000 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 |
97.000 |
60.000 |
54.000 |
|
(b) Reserves & Surplus |
2504.945 |
1770.269 |
1484.042 |
|
(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) |
2601.945 |
1830.269 |
1538.042 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
210.000 |
60.532 |
120.651 |
|
(b) Deferred tax liabilities
(Net) |
50.129 |
0.000 |
12.000 |
|
(c) Other long term
liabilities |
1.475 |
1.458 |
1.168 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
261.604 |
61.990 |
133.819 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
58.567 |
221.705 |
267.194 |
|
(b) Trade payables |
319.843 |
161.306 |
132.290 |
|
(c) Other current liabilities |
177.324 |
77.072 |
77.743 |
|
(d) Short-term provisions |
287.799 |
227.486 |
197.173 |
|
Total
Current Liabilities (4) |
843.533 |
687.569 |
674.400 |
|
|
|
|
|
|
TOTAL |
3707.082 |
2579.828 |
2346.261 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2149.774 |
778.897 |
1016.147 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
57.134 |
0.032 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.762 |
0.762 |
0.762 |
|
(c) Deferred tax assets (net) |
0.000 |
39.465 |
0.000 |
|
(d) Long-term Loan and Advances |
19.059 |
20.328 |
67.862 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2226.729 |
839.484 |
1084.771 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
40.521 |
587.824 |
257.801 |
|
(b) Inventories |
140.502 |
112.669 |
82.188 |
|
(c) Trade receivables |
866.491 |
690.756 |
597.497 |
|
(d) Cash and cash equivalents |
48.765 |
40.805 |
14.422 |
|
(e) Short-term loans and
advances |
48.497 |
89.855 |
83.768 |
|
(f) Other current assets |
335.577 |
218.435 |
225.814 |
|
Total
Current Assets |
1480.353 |
1740.344 |
1261.490 |
|
|
|
|
|
|
TOTAL |
3707.082 |
2579.828 |
2346.261 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
3660.388 |
2743.569 |
2453.912 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
986.820 |
614.703 |
666.705 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
145.550 |
288.240 |
262.093 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
841.270 |
326.463 |
404.612 |
|
|
|
|
|
|
|
|
TAX |
214.594 |
94.235 |
121.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
626.676 |
232.227 |
282.912 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1175.598 |
541.578 |
541.578 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
23.200 |
28.300 |
|
|
Proposed Dividend |
0.000 |
0.000 |
51.962 |
|
|
Tax on Dividend |
0.000 |
0.000 |
8.429 |
|
|
Balance
Carried to the B/S |
1802.274 |
1175.598 |
966.571 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
646.06 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit
Margin (PAT / Sales) |
(%) |
17.12 |
8.46 |
11.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.05 |
12.86 |
17.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.18 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.15 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
2.53 |
1.87 |
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 |
54.000 |
60.000 |
97.000 |
|
Reserves & Surplus |
1484.042 |
1770.269 |
2504.945 |
|
Net
worth |
1538.042 |
1830.269 |
2601.945 |
|
|
|
|
|
|
long-term borrowings |
120.651 |
60.532 |
210.000 |
|
Short term borrowings |
267.194 |
221.705 |
58.567 |
|
Total
borrowings |
387.845 |
282.237 |
268.567 |
|
Debt/Equity
ratio |
0.252 |
0.154 |
0.103 |
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) |
|
Revenue from operations |
2453.912 |
2743.569 |
3660.388 |
|
|
|
11.804 |
33.417 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
2453.912 |
2743.569 |
3660.388 |
|
Profit |
282.912 |
232.227 |
626.676 |
|
|
11.53% |
8.46% |
17.12% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
149.966 |
59.340 |
59.340
|
|
|
|
|
|
|
Total |
149.966 |
59.340 |
59.340
|
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered office
of the company has been shifted from 53, 55, 56 - B, G.I.D.C, Chitra Industrial
Estate, Bhavnagar - 364004, Gujarat, India to the present address
w.e.f.01.12.2012.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loans and advances from directors |
5.769 |
31.278 |
|
Loans and advances from others |
13.701 |
21.505 |
|
Total |
19.470 |
52.783 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10484608 |
14/03/2014 |
300,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NR. MITHAKHALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
C00410092 |
|
2 |
10212581 |
12/04/2010 |
237,360,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NR. MITHAKHALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
A83355156 |
|
3 |
10212580 |
14/10/2014 * |
537,360,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NR. MITHAKHALI SIX RODS, AHMEDABAD, GUJARAT - 380006, INDIA |
C31899297 |
|
4 |
10156730 |
02/08/2013 * |
350,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
B82473430 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
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 records 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.63.45 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
|
|
|
|
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.