MIRA
INFORM REPORT
|
Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
PERFETTI VAN MELLE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
47th Milestone, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.06.1992 |
|
|
|
|
Com. Reg. No.: |
05-036116 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.495.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909HR1992PTC036116 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKP04072F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP2626A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of Food Products, i.e. Chewing Gums and
Toffees. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to confirm the number of employees but no one
is ready to part any information from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well-established company having a fine track record. There is a loss recorded by the company in the year 2013. However,
networth of the company is decent. Liquidity position is strong and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered normal 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under control,
said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up
from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs.39000 mn this financial year and has a debt of Rs.350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs.35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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 DECLINED BY
|
Name : |
Mr. Chetan Sharma |
|
Designation : |
Account Officer in Factory (Plant) |
|
Contact No.: |
91-124-6730452/ 9899462205 |
|
Date : |
14.02.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
47th Milestone, |
|
Tel. No.: |
91-124-2290337/ 2290341/ 6730452 |
|
Mobile No.: |
91-9899462205 (Mr. Chetan Sharma) |
|
Fax No. : |
91-124-2290342/ 2290342 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
1st Floor , Tower A, Global |
|
Tel. No.: |
91-124-3079171 |
|
Fax No.: |
91-124-2803212 |
|
|
|
|
Factory 2 : |
Chennai Factory No.7, Karanaipuducherry Village and Post, Via Guduvancherry, Chennai –
603202, Tamilnadu, India |
|
|
|
|
Factory 3 : |
Rudrapur Factory Plot No.14/B, Sector 9, Integrated Industrial Estate, Pant Nagar,
Rudrapur- 263 153, District – Udham Singh Nagar, |
|
Tel. No.: |
91-5911-245874 |
|
|
|
|
Sales Office : |
Located at: · North Branch : Gurgaon · South Branch : Bangalore · East Branch : Kolkata · West Branch : Mumbai |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Ramesh Puthukode Jayaraman |
|
Designation : |
Managing Director |
|
Address : |
1-B, |
|
Date of Birth/Age : |
03.07.1965 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
00945416 |
|
|
|
|
Name : |
Mr. Shikhermal Surana |
|
Designation : |
Director |
|
Address : |
164, |
|
Date of Birth/Age : |
25.01.1949 |
|
Date of Appointment : |
16.12.2002 |
|
DIN No.: |
00023553 |
|
|
|
|
Name : |
Mr. Abhey Yograj |
|
Designation : |
Director |
|
Address : |
N-94, |
|
Date of Birth/Age : |
01.09.1943 |
|
Date of Appointment : |
26.06.1992 |
|
DIN No.: |
00029998 |
|
|
|
|
Name : |
Mr. Stefeno Pelle |
|
Designation : |
Director |
|
Address : |
Al Barsha lll, Plot 375, Street No.22C, Villa No.38, |
|
Date of Birth/Age : |
19.02.1964 |
|
Date of Appointment : |
17.04.2006 |
|
DIN No.: |
00088104 |
|
PAN No.: |
AGYPP4211E |
|
|
|
|
Name : |
Mr. Harsh Kumar Arora |
|
Designation : |
Director |
|
Address : |
House No.12, Road No.6 (12/6), East Punjabi Bagh, |
|
Date of Birth/Age : |
27.08.1959 |
|
Date of Appointment : |
11.06.2007 |
|
DIN No.: |
00132859 |
|
PAN No.: |
ABNPA2171N |
|
|
|
|
Name : |
Mr. Massimo Terrevazzi |
|
Designation : |
Director |
|
Address : |
Minister Nelissenstraat 2, 4818 HT, |
|
Date of Birth/Age : |
11.05.1962 |
|
Date of Appointment : |
17.04.2006 |
|
DIN No.: |
00813536 |
|
|
|
|
Name : |
Mr. Sameer Suneja |
|
Designation : |
Director |
|
Address : |
House No.C5/20, Second Floor, Safdarjang Development Area, |
|
Date of Birth/Age : |
12.08.1971 |
|
Date of Appointment : |
01.02.2008 |
|
DIN No.: |
02104440 |
|
PAN No.: |
AATPS1322E |
KEY EXECUTIVES
|
Name : |
Mr. Chetan Sharma |
|
Designation : |
Account Officer in Factory (Plant) |
|
|
|
|
Name : |
Mr. Harsh Kumar Arora |
|
Designation : |
Company Secretary |
|
Address : |
House No.12, Road No.6 (12/6), East Punjabi Bagh, |
|
Date of Birth/Age : |
27.08.1959 |
|
Date of Appointment : |
28.01.1999 |
|
PAN No.: |
ABNPA2171N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
|
|
|
(Holding as Nominee of Perfetti Van Melle Holding B.V.,
Netherlands) |
1 |
0.00 |
|
Perfetti Van Melle Holding B.V., Netherlands |
49553498 |
100.00 |
|
Van Melle International Trust B.V., Netherlands |
100 |
0.00 |
|
Euraffair International B.V., Netherlands |
1 |
0.00 |
|
Alessandro Ruggeri (Holding as Nominee of Perfetti Van
Melle Holding B.V., Netherlands) |
1 |
0.00 |
|
|
|
|
|
Total |
49,553,601 |
100.00 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Food Products, i.e. Chewing Gums and
Toffees. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available [We tried to confirm the number of employees but no one
is ready to part any information from the company management] |
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Bankers : |
Not Available |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Holding Company : |
· Perfetti Van Melle Holding B.V., Netherlands |
|
|
|
|
Ultimate Holding
company : |
· Perfetti Van Melle SpA, Italy |
|
|
|
|
Fellow Subsidiary company: |
· Gum Base Company SpA · Perfetti Van Melle Italia S.r.l · Perfetti Van Melle Confectionery (Shenzhen) Company Limited · Perfetti Van Melle Benelux B.V. · Chupa Chups S.A.U · Perfetti Van Melle (Vietnam) Limited · PT Perfetti Indonesia · Perfetti Van Melle Phills., Inc. · Perfetti Van Melle Confectionery China Company Limited · Van Melle AG., Switzerland · Perfetti Van Melle Asia Pacific · Perfetti Van Melle USA Inc. · Look-o-Look International B.V. · Perfetti Van Melle UK Limited · Mondarom Groven S.A. · Perfetti Van Melle (Russia) |
|
|
|
|
Associate : |
·
Perfetti Van Melle Investments B.V. ·
Perfetti Van Melle Sri Lanka (Private) Limited ·
Perfetti Van Melle Bangladesh Private Limited · Swathi Eco Gen Private Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65000000 |
Equity Shares |
Rs.10/- each |
Rs.650.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49553601 |
Equity Shares |
Rs.10/- each |
Rs.495.536
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 |
495.500 |
495.500 |
495.500 |
|
(b) Reserves & Surplus |
3,144.900 |
3,666.200 |
3,197.500 |
|
(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) |
3,640.400 |
4,161.700 |
3,693.000 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.100 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
25.800 |
24.800 |
0.100 |
|
(d) long-term provisions |
126.400 |
107.000 |
89.600 |
|
Total
Non-current Liabilities (3) |
153.300 |
131.800 |
89.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2,050.100 |
1,736.000 |
1,538.400 |
|
(c) Other current liabilities |
324.100 |
357.200 |
286.400 |
|
(d) Short-term provisions |
1,157.700 |
841.700 |
640.900 |
|
Total
Current Liabilities (4) |
3,531.900 |
2,934.900 |
2,465.700 |
|
|
|
|
|
|
TOTAL |
7,325.600 |
7,228.400 |
6,248.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2,283.400 |
2,027.000 |
1,562.300 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
288.100 |
135.900 |
485.100 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
997.800 |
997.800 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
256.600 |
214.200 |
|
(d) Long-term Loan and Advances |
996.700 |
733.200 |
400.200 |
|
(e) Other Non-current assets |
19.700 |
10.000 |
19.600 |
|
Total
Non-Current Assets |
4,585.700 |
4,160.500 |
2,681.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1,674.800 |
1,763.500 |
1,265.700 |
|
(c) Trade receivables |
137.300 |
107.500 |
105.300 |
|
(d) Cash and cash equivalents |
328.100 |
662.000 |
1,541.100 |
|
(e) Short-term loans and
advances |
569.500 |
495.500 |
573.600 |
|
(f) Other current assets |
30.200 |
39.400 |
81.300 |
|
Total
Current Assets |
2,739.900 |
3,067.900 |
3,567.000 |
|
|
|
|
|
|
TOTAL |
7,325.600 |
7,228.400 |
6,248.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
16470.000 |
15500.300 |
13010.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
16740.000 |
15085.800 |
12131.300 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(270.000) |
414.500 |
878.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
250.000 |
(54.200) |
(35.500) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(520.000) |
468.700 |
914.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1960.000 |
1493.600 |
1329.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
750.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1440.000 |
1962.300 |
1493.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
253.100 |
232.100 |
137.800 |
|
|
|
Sale of assets |
12.900 |
2.200 |
2.100 |
|
|
|
Remittance on closure of overseas branch |
0.000 |
0.000 |
6.400 |
|
|
TOTAL EARNINGS |
266.000 |
234.300 |
146.300 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded goods |
30.800 |
72.800 |
19.400 |
|
|
|
Raw materials |
1258.500 |
1363.300 |
1003.200 |
|
|
|
Components, stores and spares |
10.900 |
12.000 |
16.600 |
|
|
|
Capital goods |
400.800 |
159.800 |
358.600 |
|
|
TOTAL IMPORTS |
1701.000 |
1607.900 |
1397.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(10.59) |
9.46 |
18.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(3.16)
|
3.02 |
7.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.47)
|
7.10 |
15.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07)
|
0.10 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78
|
1.05 |
1.45 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
495.500 |
495.500 |
495.500 |
|
Reserves & Surplus |
3,197.500 |
3,666.200 |
3,144.900 |
|
Net
worth |
3,693.000 |
4,161.700 |
3,640.400 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
1.100 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
1.100 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
13,010.000 |
15,500.300 |
16,470.000 |
|
|
|
19.141 |
6.256 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
13,010.000 |
15,500.300 |
16,470.000 |
|
Profit |
914.200 |
468.700 |
-520.000 |
|
|
7.03% |
3.02% |
-3.16% |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
NOTES:
The Registered office of the company has been shifted from D-62, Defence
Colony, New Delhi – 110 024, Haryana, India to present address w.e.f.
11.07.2006.
FINANCIAL DETAILS
During the year, the company recorded total revenue of Rs.16470.000
Millions compared with Rs.15500.000 Millions in the previous year resulting in
growth of 6.25%. However, the total expenditure of the Company increased to
16740.000 Millions compared with previous year which was Rs.15080.000 Millions
i.e. increase of Rs.1660.000 Millions. The overall increase in total
expenditure of the Company adversely impacted the profitability resulting in
loss (before tax) of Rs.270.000 Millions. After tax loss stands at Rs.520.000
Millions.
OPERATION AND FUTURE
OUTLOOK:
The year was quite
challenging taking into consideration increase in cost of raw materials and
operating and other expenses. The management initiated several measures, particularly
on consumption of energy, to control costs, which brought in good savings for
the company.
At the same time,
introduction of some new products Jelly and innovative candies helped to boost
sales during the year.
The current year
also appears to be challenging from the trends so far emerging. The major
challenges have been increased cost of raw materials, all round inflation,
depreciation in rupee impacting import of raw materials.
The company is
adopting various cost reduction measures to meet the challenges. Also
introduction of some new variants of Jelly and other panned confectionary are
being planned which are likely to give impetus to the growth of the Company.
BACKGROUND
The Company was
incorporated on June 26, 1992. The Company is a subsidiary of Perfetti Van
Melle Holding B.V. by virtue of their holding 99.999 percent equity shares in
the paid up share capital as at 31 March, 2013 .
The operations of
the Company comprises of manufacturing and marketing of food products, i.e.
chewing gums and toffees. During the year 2011-12, the Company also started
manufacturing and marketing of namkeen products in India. The Company has three
manufacturing facilities located at Manesar (Haryana), Rudrapur (Uttarakhand)
and Chennai (Tamil Nadu).
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In
Millions) |
|
|
i. Claims against the Company not acknowledged as debts |
|
|
|
- Income tax disputes where the Company is in appeal |
650.100 |
15.100 |
|
- Excise duty demand on classification/ valuation disputes |
210.800 |
203.900 |
|
- Sales tax/Value Added Tax classification Disputes |
71.800 |
60.700 |
|
|
|
|
|
ii. Guarantees given by banks on behalf of Company |
271.300 |
190.400 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Land – Freehold
· Land – Leasehold
· Buildings
· Plant and Machinery
· Motor Vehicles
· Furniture and Fixtures
· Computer Under Finance Lease
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.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
55 |
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.