MIRA
INFORM REPORT
|
Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOBEL HYGIENE PRIVATE LIMITED (w.e.f. December 2013) |
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Formerly Known
As : |
NOBEL HYGIENE LIMITED (w.e.f. 01.01.2010) NOBEL HYGIENE PRIVATE LIMITED |
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Registered
Office : |
H. No. L-20, Housing Board Colony, Upasnagar, Sancoale, Vasco Da Gama Goa -403726 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
13.11.2001 |
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Com. Reg. No.: |
11-003048 |
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Capital
Investment / Paid-up Capital : |
Rs.157.834 Millions |
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CIN No.: [Company Identification
No.] |
U24239GA2001PLC003048 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRN02038B |
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PAN No.: [Permanent Account No.] |
AABCN5081A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of baby diapers and adult diapers. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2500000 |
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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. There appears dip in profit of the company in 2013. However, liquidity
position of the company is good. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate credit quality and average credit risk |
|
Date |
30.07.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
30.07.2013 |
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. Sanjeev Trivedi |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9320744331 |
LOCATIONS
|
Registered Office : |
H. No. L-20, Housing Board Colony, Upasnagar, Sancoale,
Vasco Da Gama Goa -403726, India |
|
Tel. No.: |
91-832-2556861 |
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Mobile No.: |
91-9320744331 (Mr. Sanjeev Trivedi) |
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Fax No.: |
91-832-42121316 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Corporate Office: |
Unit No. 204, Thakur House (Antariksh), |
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Tel. No.: |
91-22-28201381/ 28201382 |
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Fax No.: |
91-22-28201383 / 242121314 |
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E-Mail : |
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Area : |
2000 Sq. ft. |
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Location : |
Rented |
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Factory : |
A–70, MIDC, Sinnar, Nashik –
422103, Maharashtra India |
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Area : |
4 acers |
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Location : |
Rented |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Kamal Manohardas Johari |
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Designation : |
Director |
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Address : |
101, |
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Date of Birth/Age : |
10.10.1960 |
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Date of Appointment : |
16.07.2012 |
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DIN No.: |
00785082 |
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Name : |
Mrs. Kamini Kamal Johari |
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Designation : |
Director |
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Address : |
101, |
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Date of Birth/Age : |
10.02.1962 |
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Date of Appointment : |
16.07.2012 |
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DIN No.: |
01309286 |
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Name : |
Mr. Manish Dharanendra Ladage |
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Designation : |
Directors |
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Address : |
Row No. 18, Vasant Vihar, |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
00082178 |
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Name : |
Mr. Ramesh D. Tainwala |
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Designation : |
Director |
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Address : |
71-Kalpataru, Nutamn Laxmi Society, JVPD Scheme, Vile Parle,
Mumbai-400 057, |
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Date of Birth/Age : |
08.09.1959 |
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Date of Appointment : |
15.12.2003 |
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DIN No.: |
00234109 |
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Name : |
Mr. Bhupal Singh Verdia |
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Designation : |
Director |
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Address : |
17 Mani Vikas, T. H. Kataria Marg, |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
02258522 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Trivedi |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
As on 29.09.2012
SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
47.73 |
|
Directors or relatives of Directors |
30.99 |
|
Other top fifty shareholders |
19.39 |
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Others |
1.89 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of baby diapers and adult diapers. |
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Products : |
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Brand Names : |
FRIENDS and TEDDYY |
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Exports : |
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Products : |
Diapers |
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Countries : |
·
Dubai ·
South East Asia ·
South Africa |
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Imports : |
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Products : |
Raw Material and Allied Products |
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Countries : |
·
USA ·
Canada |
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Terms : |
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Selling : |
L/C / Cash / Credit / DP |
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Purchasing : |
L/C / Cash / Credit / DP |
GENERAL INFORMATION
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Suppliers : |
JVS, Mumbai Tel No.: 91-22-26854679
(Mr. Chirag) Reported: He informed we
well working for this company but now discontinued but we were happy with
company business, no issues |
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Customers : |
Wholesalers, Retailers and Stockest ·
Fiber Tesc, Malaysia |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· State Bank of India, MIDC Andheri (East) Branch, Plot No B-1, Central Road, Andheri (East), Mumbai-400093, Maharashtra, India Tel. No.: 91-22-28380058 (mr. Arvind Sahay, Relationship Manager) Report: He rated company as good · The North Kanara G.S B Co-Operative Bank Limited, Samved, S.K Bole Road, Dadar, Mumbai-400028, Maharashtra, India · Janakalyan Sahakari Bank Limited, 140, Vivek Darshan Sindhi Society, Opposite Bhakti Bhavan Chembur, Mumbai, Maharashtra, India · HDFC Bank Limited · Standard Chartered Bank |
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Facilities : |
Total Facility Rs.720.000 Millions (From State Bank of India)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shabirbhai and Company Chartered Accountants |
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Enterprises over which Key Managerial Personnel
are able to exercise Significant Influence : (As
on 31.03.2012) |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital : Rs. 215.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 157.834 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 |
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|
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|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
157.834 |
76.880 |
76.880 |
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(b) Reserves & Surplus |
484.375 |
185.389 |
85.165 |
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(c) Money
received against share warrants |
0.323 |
9.000 |
9.000 |
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(2) Share Application money pending allotment |
0.000 |
23.400 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
642.532 |
294.669 |
171.045 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
90.113 |
91.004 |
120.428 |
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(b) Deferred tax liabilities (Net) |
28.676 |
1.166 |
1.166 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
32.804 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
118.789 |
92.170 |
154.398 |
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(4) Current Liabilities |
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|
|
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(a) Short term borrowings |
247.584 |
201.086 |
156.464 |
|
(b) Trade payables |
20.897 |
53.564 |
38.719 |
|
(c) Other current
liabilities |
116.466 |
78.135 |
42.596 |
|
(d) Short-term provisions |
45.003 |
31.375 |
18.126 |
|
Total Current Liabilities (4) |
429.950 |
364.160 |
255.905 |
|
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|
|
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TOTAL |
1191.268 |
750.999 |
581.348 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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(a) Fixed Assets |
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|
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(i) Tangible assets |
348.071 |
241.715 |
230.992 |
|
(ii) Intangible Assets |
9.432 |
0.000 |
0.033 |
|
(iii) Capital
work-in-progress |
42.409 |
38.356 |
33.746 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
43.776 |
1.276 |
1.276 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.013 |
28.700 |
29.072 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
452.701 |
310.047 |
295.119 |
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
5.000 |
5.000 |
|
(b) Inventories |
168.426 |
169.467 |
121.131 |
|
(c) Trade receivables |
351.717 |
225.150 |
130.682 |
|
(d) Cash and cash equivalents |
32.713 |
8.512 |
6.396 |
|
(e) Short-term loans and
advances |
185.711 |
32.823 |
21.957 |
|
(f) Other current assets |
0.000 |
0.000 |
1.063 |
|
Total Current Assets |
738.567 |
440.952 |
286.229 |
|
|
|
|
|
|
TOTAL |
1191.268 |
750.999 |
581.348 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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SALES |
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|
|
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|
|
|
Income |
1117.074 |
762.338 |
451.582 |
|
|
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Other Income |
1.860 |
0.514 |
4.834 |
|
|
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TOTAL (A) |
1118.934 |
762.852 |
456.416 |
|
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Less |
EXPENSES |
|
|
|
|
|
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|
Cost of materials consumed |
764.839 |
|
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|
|
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Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
7.547 |
(28.687) |
|
|
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Employee benefit expense |
22.488 |
11.754 |
|
|
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Other expenses |
160.566 |
109.579 |
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TOTAL (B) |
955.440 |
604.049 |
65.298 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
163.494 |
158.803 |
66.901 |
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Less |
FINANCIAL
EXPENSES (D) |
46.361 |
47.288 |
23.187 |
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
117.133 |
111.515 |
43.714 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.147 |
11.158 |
5.678 |
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PROFIT BEFORE TAX
(E-F) (G) |
104.986 |
100.357 |
38.036 |
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Less |
TAX (H) |
29.086 |
0.134 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
75.900 |
100.223 |
38.036 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
163.358 |
63.135 |
25.099 |
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|
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BALANCE CARRIED
TO THE B/S |
239.258 |
163.358 |
63.135 |
|
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IMPORTS |
|
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|
|
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|
|
Capital Goods |
NA |
3.610 |
66.796 |
|
|
|
Raw Materials and Finished products |
NA |
72.164 |
79.855 |
|
|
|
Machinery (WIP) |
NA |
0.000 |
0.000 |
|
|
|
Fright |
NA |
0.000 |
0.000 |
|
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|
Sample Material |
NA |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
75.774 |
146.651 |
|
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|
|
|
|
|
|
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|
Earnings Per
Share (Rs.) |
9.56 |
13.04 |
4.95 |
|
Expected Sales (2013-14) : Rs.1500.000 Millions
The above information has been parted by Mr. Sanjeev Trivedi
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.78 |
13.14 |
8.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.40 |
13.16 |
8.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.50 |
14.11 |
6.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.34 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.53 |
0.99 |
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72 |
1.21 |
1.12 |
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 |
76.880 |
76.880 |
157.834 |
|
Reserves & Surplus |
85.165 |
185.389 |
484.375 |
|
Net
worth |
162.045 |
262.269 |
642.209 |
|
|
|
|
|
|
long-term borrowings |
120.428 |
91.004 |
90.113 |
|
Short term borrowings |
156.464 |
201.086 |
247.584 |
|
Total
borrowings |
276.892 |
292.090 |
337.697 |
|
Debt/Equity
ratio |
1.709 |
1.114 |
0.526 |
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 |
451.582 |
762.338 |
1,117.074 |
|
|
|
68.815 |
46.533 |
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 |
451.582 |
762.338 |
1,117.074 |
|
Profit |
38.036 |
100.223 |
75.900 |
|
|
8.42% |
13.15% |
6.79% |
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
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note:
The registered office of the company has been shifted from D-2 16, Sancoale,
Zuari Nagar, Goa-403 726, India to present address
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Rupee term loans |
1.650 |
1.921 |
|
Rupee term loans from others |
2.380 |
4.188 |
|
Intercorporate deposits |
1.300 |
1.300 |
|
Deposits from others |
0.000 |
0.500 |
|
Short Term
Borrowings |
|
|
|
Rupee term loans from others |
2.299 |
0.000 |
|
Working capital loans |
14.669 |
9.154 |
|
Total |
22.298 |
17.063 |
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10145181
|
08/08/2013
* |
723,300,000.00
|
STATE
BANK OF INDIA |
MIDC, ANDHERI (EAST) BRANCH, MAROL,
CENTRAL ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400093, INDIA |
B82018235
|
|
2 |
90065627
|
01/01/2003
|
3,000,000.00
|
STATE
BANK OF INDIA |
COMMERCIAL BRANCH, CHEMBUR,
MUMBAI, MAHARASHTRA - |
- |
*Date of Modification
Charge
FIXED ASSETS:
·
Air Conditioner
·
Aquaguard
·
Computer
·
Factory Equipments
·
Factory Premises
·
·
Office Premises
·
Handi (Machine)
·
Reliance Mobile Phone
·
Electrical Installation
·
Website Development
NEWS:
MUMBAI, March 7, 2013
ACCESS INDIA FUND
INVESTS $11.5 MN IN WORLD-CLASS DIAPER
MANUFACTURING COMPANY
Nobel Hygiene, India's first and only world-class baby and adult diaper manufacturer, has received the first tranche of funding boost to the tune of $11.5 Mn through Access India Fund and its co-investors.
Nobel Hygiene Limited, headquartered in Mumbai, is a dominant market leader in the manufacture of adult diapers, a fast growth sunrise segment with growth rate of over 30% p.a. over the last 4 years in India. It also manufactures and markets baby diapers, a segment which has seen greater than 50% growth over the last 5 years.
Nobel's adult diapers are sold under the brand name 'Friends' and its baby diapers are sold under the brand name, 'Teddyy'. Kamal Kumar Johari, Managing Director, Nobel Hygiene Limited says, "Friends is now a 10-year-old brand and we are now well-recognised for the high quality of our products. Nobel Hygiene is the only Indian Company to have installed state-of-the-art European manufacturing lines. We continue to source our machinery and raw material from some of the best suppliers globally." The investment in Nobel Hygiene will be used to enhance as well as double its existing manufacturing capacity.
Achal Nath at Access India Fund says, "Diapers is one of the most interesting FMCG segments in India today. We expect to see significant sustained growth over the next 10 years given the low adoption rates and increasing disposable incomes. The adult diaper market in India, for example, is estimated at US$ 30 Mn as against the US$ 9 Bn global market (about 40% of the baby diapers market). The Chinese market even at US$ 300 Mn is still growing at 30% plus per annum. The Indian adult diaper segment has the potential to grow into a significantly large FMCG category with India having the second largest 65+ year's population in the world. Nobel's adult diaper brand is the only brand in its category with pan India distribution today." According to AC Nielsen, baby diapers were the fastest growth FMCG category in medium size Indian towns between May 2010 and May 2011 with 75% category growth.
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 : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.