MIRA
INFORM REPORT
|
Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
FOURRTS (INDIA) LABORATORIES PRIVATE LIMITED (w.e.f.12.06.1996) |
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|
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|
Formerly known
as |
FOURTS (INDIA) LABORATORIES PRIVATE LIMITED |
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Registered
Office : |
Plot No. 1 and 2, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
31.03.1979 |
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|
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Com. Reg. No.: |
18-007782 |
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Capital
Investment / Paid-up Capital : |
Rs.223.484 Millions |
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|
|
|
CIN No.: [Company
Identification No.] |
U85185TN1979PTC007782 |
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PAN No.: [Permanent Account No.] |
AAACF0467F |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer, Exporter and Importer of Pharmaceutical Formulations |
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|
No. of Employees
: |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Management of the company has failed to file its latest financials of
2013 with government department. As per financials of 2012, overall financial position of the company
appears to be decent. Trade relation reported to b fair. Business is active. Payment terms
are reported to b usually correct. The company can be considered for business dealing 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB+ |
|
Rating Explanation |
Moderate credit quality and average credit risk. |
|
Date |
07, January 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
Storage degree of safety and low credit risk. |
|
Date |
07, January 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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Dev Gupta |
|
Designation : |
Account Manager |
|
Tel No.: |
91-44-24581666 |
|
Date : |
10.02.2014 |
LOCATIONS
|
Registered/ Corporate office : |
Plot No. 1 and 2, |
|
Tel. No.: |
91-44-24581666/24581899 / 4344 1880 (10
Lines) |
|
Fax No.: |
91-44-24581199 / 4282 9592 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
Area: |
5000 sq. ft. |
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-44-27474325 / 4740 4310 (5 lines) |
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Fax No.: |
91-44-27475083 |
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E-Mail : |
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|
Location : |
Owned |
|
Area: |
10000 sq. ft. |
DIRECTORS
As on 07.09.2012
|
Name: |
Mr. S. V. Veerramani |
|
Designation : |
Chairman and managing
Director |
|
Address : |
New No. 172 Old No. (49A), Justice Ramaswamy Road, Kamaraj Avenue 11 Street, Adyar, Chennai – 600 020, Tamilnadu, India |
|
Date of Birth: |
26.08.1949 |
|
Date of Appointment : |
10.10.1979 |
|
DIN No: |
00907641 |
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|
|
|
Name : |
Mrs. Radha Veeramani |
|
Designation : |
Director |
|
Address : |
New No. 172 Old No. (49A), Justice Ramaswamy Road, Kamaraj Avenue 11 Street, Adyar, Chennai – 600 020, Tamilnadu, India |
|
Date of Birth: |
29.11.1954 |
|
Date of Appointment : |
30.10.1991 |
|
DIN No: |
02878823 |
KEY EXECUTIVES
|
Name : |
Mr. Dev Gupta |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 07.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Lalitha Guru |
|
675 |
|
Aishwarya |
|
1225 |
|
K S Narayanswamy |
|
300 |
|
C H Kamalam |
|
1900 |
|
S P Gopalakrishnan |
|
650 |
|
Parvathi Ramachandran |
|
600 |
|
S P Ramachandran |
|
600 |
|
P S Ramachandran |
|
4000 |
|
Lalitha Gopalakrishnan |
|
550 |
|
Ashwin |
|
1600 |
|
R Rajagopal |
|
75 |
|
Uma Venkatesh |
|
3000 |
|
S V Veerramani |
|
950000 |
|
K S Kamala |
|
2000 |
|
V Gayathri |
|
118805 |
|
K |
|
700 |
|
V Nithya |
|
116180 |
|
Radha Veirramani |
|
1001030 |
|
|
|
1900 |
|
M Radha |
|
250 |
|
P Kamla |
|
650 |
|
L |
|
350 |
|
Nalina Seshadri |
|
2000 |
|
Vidya Hariharan |
|
2400 |
|
R Seshadri |
|
2000 |
|
K |
|
750 |
|
Suguna Ravi |
|
2250 |
|
S |
|
2000 |
|
S V Subramanian |
|
8000 |
|
Geetha Narayanan |
|
2000 |
|
J. Sunder |
|
3200 |
|
L. Mohan Iyer |
|
3200 |
|
Total
|
|
2234840 |
Allottees As on 30.11.2013
|
Names of Shareholders |
|
No. of Shares |
|
S.V. Veerramani |
|
280000 |
|
Radha Veirramani |
|
274000 |
|
Total |
|
554000 |
Allottees As on 30.11.2012
|
Names of Shareholders |
|
No. of Shares |
|
S.V. Veerramani |
|
200000 |
|
Radha Veirramani |
|
204000 |
|
Total |
|
404000 |
As on 07.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.00 |
|
Other top fifty shareholders |
1.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Pharmaceutical Formulations. |
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Products : |
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Exports : |
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Products : |
Pharmaceuticals Medicines |
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Countries : |
South Africa |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
ACTUAL PRODUCTION
FOR EACH CLASS OF GOODS AS ON 31.03.2011
|
Description |
Unit |
Qty. |
|
Tablets |
Lacs |
13,876.78 |
|
Capsules |
Lacs |
549.57 |
|
Liquids |
Ltrs. |
8,73,500.05 |
|
Ointments |
Kgs. |
1,42,392.14 |
|
Vials |
Kgs. |
4,056.00 |
GENERAL INFORMATION
|
Suppliers : |
Jagarmal and Company |
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|
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Customers : |
Wholesalers, retailer and End Users ·
Vijay Sai Medicals Distributors |
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No. of Employees : |
2000 (Approximately) |
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Bankers : |
·
State Bank of India, Industrial Finance Branch,
No.155, Ann Salai, Chennai – 600002, Tamilnadu, India ·
Axis Bank, Adyar, Chennai, Tamilnadu, India |
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Facilities : |
Fund and Non Fund = Rs.480.000 Million (From State Bank of India) (Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
|
|
Name : |
Vijayaraghavan and Associates Chartered Accountants |
|
Address : |
51, |
CAPITAL STRUCTURE
AFTER 07.09.2012
Authorised Capital : Rs.500.000 Millions.
Issued, Subscribed & Paid-up Capital : Rs.349.084
Millions.
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.100/- Each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2234840 |
Equity Shares |
Rs.100/- Each |
Rs.223.484 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
223.484 |
160.124 |
|
(b) Reserves & Surplus |
454.625 |
408.658 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
678.109 |
568.782 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
414.939 |
381.183 |
|
(b) Deferred tax liabilities (Net) |
14.773 |
12.720 |
|
(c) Other long term liabilities |
15.532 |
15.432 |
|
(d) long-term provisions |
36.125 |
29.495 |
|
Total Non-current Liabilities (3) |
481.369 |
438.830 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term
borrowings |
474.584 |
433.381 |
|
(b) Trade payables |
245.793 |
224.679 |
|
(c) Other current
liabilities |
12.500 |
10.339 |
|
(d) Short-term provisions |
76.088 |
85.422 |
|
Total Current Liabilities (4) |
808.965 |
753.821 |
|
|
|
|
|
TOTAL |
1968.443 |
1761.433 |
|
|
|
|
|
II. ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
151.150 |
153.858 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
612.458 |
386.186 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.003 |
0.003 |
|
(c) Deferred tax assets (net) |
19.848 |
15.780 |
|
(d) Long-term Loan and Advances |
6.728 |
6.104 |
|
(e) Other Non-current assets |
148.836 |
47.733 |
|
Total Non-Current Assets |
939.023 |
609.664 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
164.344 |
113.946 |
|
(c) Trade receivables |
462.191 |
385.265 |
|
(d) Cash and cash
equivalents |
297.442 |
457.658 |
|
(e) Short-term loans
and advances |
97.644 |
189.960 |
|
(f) Other current
assets |
7.799 |
4.940 |
|
Total Current Assets |
1029.420 |
1151.769 |
|
|
|
|
|
TOTAL |
1968.443 |
1761.433 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
129.875 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
302.745 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
432.620 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
419.032 |
|
|
2] Unsecured Loans |
|
|
2.197 |
|
|
TOTAL BORROWING |
|
|
421.229 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
853.849 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
151.670 |
|
|
Capital work-in-progress |
|
|
74.500 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.003 |
|
|
DEFERREX TAX ASSETS |
|
|
0.149 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
105.132 |
|
|
Sundry Debtors |
|
|
276.478 |
|
|
Cash & Bank Balances |
|
|
405.014 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
252.823 |
|
Total
Current Assets |
|
|
1039.447 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
227.800 |
|
|
Provisions |
|
|
186.451 |
|
Total
Current Liabilities |
|
|
414.251 |
|
|
Net
Current Assets |
|
|
625.196 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
2.331 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
853.849 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2156.200 |
2057.900 |
1549.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
2016.600 |
1842.800 |
1384.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX |
139.600 |
215.100 |
164.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
47.700 |
74.500 |
60.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
91.900 |
140.600 |
104.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
23.400 |
17.500 |
10.900 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
100.000 |
75.000 |
|
|
|
Dividend |
38.900 |
30.200 |
23.300 |
|
|
|
Tax on Dividend |
6.300 |
4.900 |
4.000 |
|
|
|
Income Tax Provision |
NA |
2.500 |
0.000 |
|
|
|
Deferred Tax - Net |
NA |
(2.900) |
(4.600) |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
23.400 |
17.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
341.827 |
397.586 |
262.451 |
|
|
TOTAL EARNINGS |
341.827 |
397.586 |
262.451 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
88.761 |
86.994 |
67.002 |
|
|
|
Stores & Spares |
0.220 |
NIL |
NIL |
|
|
|
Equipment |
2.416 |
25.162 |
NIL |
|
|
TOTAL IMPORTS |
91.397 |
27.578 |
67.002 |
|
%20LABORTORIES%20PRIVATE%20LIMITED%20-%20252241%2012-Feb-2014_files/image001.gif){kind=small}
%20LABORTORIES%20PRIVATE%20LIMITED%20-%20252241%2012-Feb-2014_files/image002.gif){kind=small}
|
Particulars |
31.03.2013 |
|
Sales Turnover |
Rs.3000.000
Million (Approximately) |
The above information has been parted by Mr. Dev Gupta (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.26 |
6.83 |
6.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.47 |
10.45 |
10.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.45 |
15.82 |
13.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.38 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.31
|
1.43 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.53 |
2.51 |
LOCAL AGENCY FURTHER INFORMATION
|
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
four 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 |
No |
|
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 |
No |
|
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 |
OPERATION AND
FUTURE OUTLOOK
The Company was able
to marginally increase its turnover despite the forces of general recession and
inflationary pressures. It renewed its focus on consolidation measures and
concentrated on new product introductions as a key marketing strategy to extend
the future returns and product life cycles. These together with the increase in
power tariff and input costs have resulted in reduced profitability.
INTERNATIONAL
BUSINESS
Though the global
market witnessing increasing regulatory and pricing pressures, the company has already
established its presence in more than 40 countries. With the launch of active
product registration in Kyrgyzstan, Uzbekistan, Tajikistan, Kazakhstan,
Abidjan, Bolivia and Gabon where the market is emerging, your company has
enhanced its strength and capability. The UKMHRA approval for Plant II should
further create new avenues of driving growth especially in regulated markets.
CONTINGENT
LIABILITIES
(Rs.
In Million)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Guarantees outstanding in favour of Customers/Government Departments
issued by the Bank and secured by Counter Guarantees given by the Company |
28.631 |
101.577 |
|
Letter of Credit outstanding for purchase of raw materials |
23.234 |
13.962 |
|
The estimated amount of contracts to be executed on capital accounts
not provided for as at end of the year for construction of Plant II, stands
at |
37.470 |
54.211 |
INDEX OF CHARGE:
|
S.No.
|
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
90285774
|
10/01/2005
* |
650,000.00
|
STATE
BANK OF INDIA |
GUINDY
BRANCH, CHENNAI, Tamil Nadu - 600032, INDIA |
- |
|
2 |
90284771
|
18/12/2002
|
1,000,000.00
|
STAE
BANK OF INDIA |
GUINDY
BRANCH, CHENNAI, Tamil Nadu - 600032, INDIA |
- |
|
3 |
90285545
|
18/12/2002
|
9,200,000.00
|
STATE
BANK OF INDIA |
GUINDY
BRANCH, CHENNAI, Tamil Nadu - 600032, INDIA |
- |
|
4 |
90284761
|
22/02/2001
|
1,250,000.00
|
STATE
BANK OF INDIA |
GUINDY
BRANCH, CHENNAI, Tamil Nadu - 600032, INDIA |
- |
|
5 |
90285411
|
22/02/2001
|
4,500,000.00
|
STATE
BANK OF INDIA |
GUINDY
BRANCH, CHENNAI, Tamil Nadu - 600032, INDIA |
- |
|
6 |
90285272
|
29/03/2000
* |
3,900,000.00
|
STATE
BANK OF INDIA |
GUINDY
BRANCH, CHENNAI, Tamil Nadu - 600032, INDIA |
- |
|
7 |
90284670
|
12/02/1998
|
99,840.00
|
CEAT
FINANCIAL SERVICES LIMITED |
3RD
FLOOR RAJ COMPLEX 240 LLOYOS ROAD, MADRAS, Tamil Nadu - 600086, INDIA |
- |
|
8 |
90284669
|
04/02/1998
|
225,949.00
|
CEAT
FINANCIAL SERVICES LIMITED |
3RD
FLOOR RAJ COMPLEX 240 LLOYOS ROAD, MADRAS, Tamil Nadu - 600086, INDIA |
- |
|
9 |
90285864
|
18/10/1996
|
127,656.00
|
CEAT
FINANCIAL SEVICES LIMITED |
3RD
FLOOR RAJ COMPLEX NO.240 LLOYDS ROAD, MADRAS, |
- |
|
10 |
90284667
|
13/04/1991
|
750,000.00
|
STATE
BANK OF INDIA |
SHASTRI
NAGAR BRANCH SHASTRI NAGAR, MADRAS, Tamil |
|
|
11 |
90286748
|
23/02/1989
|
50,000.00
|
THE
TAMILNADU INDUSTRIAL INVESTMENT COROPORATIONLI |
'ARUL
MANAI' 27 WHITES ROAD, MADRAS, Tamil Nadu - |
- |
|
12 |
90284986
|
17/02/1989
|
61,400.00
|
THE
INVESTMENT TRUST OF INDIA LIMITED |
117
NUNGAMBAKKAM HIGH ROAD, MADRAS, Tamil Nadu - 6 |
- |
|
13 |
90284982
|
19/01/1989
|
227,500.00
|
THE
INVESTMENT TRUST OF INDIA LIMITED |
117
NUNGAMBAKKAM HIGH ROAD, MADRAS, Tamil Nadu - 6 |
- |
|
14 |
90284979
|
29/12/1988
|
97,360.00
|
THE
INVESTMENT TRUST OF INDIA LIMITED |
117
NUNGAMBAKKAM HIGH ROAD, MADRAS, Tamil Nadu - 6 |
- |
|
15 |
90284934
|
12/11/1986
|
630,000.00
|
THE TAMILNADU
INDUSTRIAL INVESTMENT COROPORATIONLI |
'ARUL
MANAI' 27 WHITES ROAD, MADRAS, Tamil Nadu - |
- |
|
16 |
90286742
|
10/11/1986
|
630,000.00
|
THE
TAILNADU INDUSTRIAL INVESTMENT COROPORATION LIMITED |
' ARUL
MANI ' 27 WHITES ROAD, MADRAS, Tamil Nadu - |
- |
|
17 |
90284678
|
12/08/1985
|
640,000.00
|
HARITA
FINANCE AND SECURITIES PRIVATE. LIMITED |
106
FOURTH STREET ABHIRAMAPURAM, CHENNAI, Tamil Na |
- |
|
18 |
90286731
|
24/12/1983
|
1,950,000.00
|
THE
TAMILNADU INDUSTRIAL INVESTMANT COROPORATION LIMITED |
'
ARUL MANAI' 27 WHITES ROAD, MADRAS, Tamil Nadu - |
- |
|
19 |
90284679
|
19/09/1983
|
135,000.00
|
THE TAMILNADU
INDUSTRIAL INVESTMENT COROPORATION LIMITED |
'ARUL
MANAI' 27 WHITES ROAD, MADRAS, Tamil Nadu - |
- |
|
20 |
90284876
|
24/05/1989
* |
650,000.00
|
STATE
BANK OF INDIA |
TIREUVANMIYUR,
MADRAS, Tamil Nadu - 600041, INDIA |
- |
FIXED ASSETS:-
· Land
·
·
· Storage Tank
· Plant and Machinery
· Generator
· Lab Equipment
· Pollution Control Equipment
· Electrical Installation
· Air Conditioners
· Furniture and Fitting
· Office Equipments
· Car and Vehicles
· Building
· Machinery
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.62.19 |
|
|
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.78 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.