MIRA
INFORM REPORT
|
Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMRAT REMEDIES LIMITED |
|
|
|
|
Registered
Office : |
1501, Phase - III, GIDC, Vapi – 396 195, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.08.2003 |
|
|
|
|
Com. Reg. No.: |
04-042774 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 15.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ2003PLC042774 |
|
|
|
|
IEC No.: |
0305060724 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS06519C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS3844G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the Production of Iodine Derivatives. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profit of the company has dipped. External borrowing of the company
has increased in 2013. Rating also takes into consideration highly competitive nature of
chemical industry and high working capital requirement. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash Credit: BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
May 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Bank Guarantee: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
May 2013 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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.
LOCATIONS
|
Registered Office : |
1501, Phase - III, GIDC, Vapi – 396 195, Gujarat, India |
|
Tel. No.: |
91-260-3296545 |
|
Fax No.: |
91-260-2427073 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
19600 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
303, 3rd Floor, Suyash, Hanuman Gali, Koldongri, Jagdish Nagar,
Sahar Road, Andheri (East), Mumbai – 400 069, Maharashtra, India |
|
Tel. No.: |
91-22-26102491/ 92 |
|
Fax No.: |
91-22-26101982 |
|
|
|
|
Branch Office : |
Plot No.1505, 3rd Phase, GIDC, Vapi – 396 195, Gujarat, India |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Champak Kantilal Parekh |
|
Designation : |
Whole Time Director |
|
Address : |
3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1933 |
|
Qualification : |
GDC and A |
|
Date of Appointment : |
25.08.2003 |
|
DIN No.: |
00287189 |
|
|
|
|
Name : |
Mr. Hitesh Champak Parekh |
|
Designation : |
Managing director |
|
Address : |
3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1965 |
|
Qualification : |
B. Pharma |
|
Date of Appointment : |
25.08.2003 |
|
DIN No.: |
00287229 |
|
|
|
|
Name : |
Mrs. Saroj Champak Parekh |
|
Designation : |
Whole Time Director |
|
Address : |
3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1940 |
|
Qualification : |
B. Com (Intermediate) |
|
Date of Appointment : |
16.09.2005 |
|
DIN No.: |
00287298 |
|
|
|
|
Name : |
Mrs. Sangeeta Hitesh Parekh |
|
Designation : |
Whole Time Director |
|
Address : |
3, Kamdhenu Nilayam, 5, Nanda Patkar Road, Vile Parle (East), Mumbai –
400 057, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1966 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
16.09.2005 |
|
DIN No.: |
00287345 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hitesh C. Parekh |
|
462500 |
|
Hitesh C. Parekh (HUF) |
|
100000 |
|
Champak K. Parekh |
|
12500 |
|
Sangeeta Hitesh Parekh |
|
462470 |
|
Saroj Champak Parekh |
|
12500 |
|
Bindi Vinit Mehta |
|
10 |
|
Harish Dauletrai Gandhi |
|
10 |
|
Jayant L. Shah |
|
10 |
|
Central Chemical Inc., Japan |
|
81350 |
|
Total
|
|
1131350 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
7.19 |
|
Directors
or relatives of directors |
|
92.81 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Production of Iodine Derivatives. |
||||||||
|
|
|
||||||||
|
Products : |
v Calcium Iodate v Copper Iodide v Ethyl Iodide v Hydriodic Acid (56%) v Iodine v Methyl 2-Iodobenzoate v Methyl Iodide v Potassium Iodate v Potassium Iodide v Potassium Metaperiodate v Sodium Iodide v Sodium Metaperiodate v Trimethyl Sulfoxoniumiodide v 3,
5-Di-Iodo Salicylic acid |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Organic and Inorganic Chemicals |
MT |
NA |
360.0000 |
241.2378 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
v
Deep Pharma-Chem Private Limited v
Union Enterprise v
Super Sulphates v
Apsara Packagings v
Arihant Chemicals v
Maitree Chemicals v
TNT Express v
Mehta Medicate Private Limited v
Prince Containers Private Limited v
Nisha Chemicals v
Krishna Solvechem Limited v
Reliance Energy v
Adarsh Printing Press v
Shroff Engineers v
Star Scientific Glass Company v
Vinay Traders |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
End Users v
Evialis India Limited v
Sun Pharmaceuticas Ind. Limited v
Century Enka Limited v
Kiran Light Laboratories v
SD Fine Chem Limited v
SRF Limited v
Sun Food Tech v
Cadila Healthcare Limited-AHM v
Thomas Baker Chemicals Private Limited v
Sam Fine Chem Limited v
Cipla Limited v
M.R. International v
Auctus Pharma Limited v
Micro Chemicals Company Private Limited v
Sushant Industries |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Bankers : |
v
Corporation Bank, SME Marol Branch, Bonanza,
Sahar Plaza Complex, Andheri-Kurla Road, J.B. Nagar, Andheri (East), Mumbai –
400 059, Maharashtra, India v
The Saraswat Co-operative Bank Limited, Raja
Shopping Center, New Nagardas Road, Andheri (East), Mumbai – 400 069,
Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Nalin S. Parekh and Company Chartered Accountants |
|
Address : |
302, Madhav Apartments, 3rd Floor, Jawahar Road, Ghatkopar
(East), Mumbai – 400 077, Maharashtra, India |
|
Tel. No.: |
91-22-25012552/ 25013488 |
|
E-Mail : |
|
|
Income-tax PAN
of auditor or auditor's firm : |
AABPP3409R |
|
|
|
|
Related Party : |
·
Sun Chemicals |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital : Rs. 15.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 11.313 Millions
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1218850 |
Equity Shares |
Rs.10/- each |
Rs. 12.189
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 |
11.313 |
11.314 |
5.500 |
|
(b) Reserves & Surplus |
54.607 |
43.792 |
22.215 |
|
(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) |
65.920 |
55.106 |
27.715 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
73.478 |
52.474 |
78.864 |
|
(b) Deferred tax liabilities (Net) |
1.090 |
1.410 |
1.585 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
74.568 |
53.884 |
80.449 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
132.373 |
110.351
|
54.668
|
|
(c) Other current liabilities |
4.947 |
9.063
|
0.000
|
|
(d) Short-term provisions |
0.627 |
0.000
|
2.541
|
|
Total Current
Liabilities (4) |
137.947 |
119.414 |
57.209 |
|
|
|
|
|
|
TOTAL |
278.435 |
228.404 |
165.373 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
39.289 |
42.241 |
44.517 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.027 |
0.052 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
39.289 |
42.268 |
44.569 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
65.420 |
26.698
|
45.390
|
|
(c) Trade receivables |
145.281 |
129.587
|
53.776
|
|
(d) Cash and cash equivalents |
23.961 |
19.459
|
11.193
|
|
(e) Short-term loans and advances |
0.000 |
9.308
|
9.510
|
|
(f) Other current assets |
4.484 |
1.084
|
0.935
|
|
Total Current
Assets |
239.146 |
186.136 |
120.804 |
|
|
|
|
|
|
TOTAL |
278.435 |
228.404 |
165.373 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
700.589 |
581.398 |
295.467 |
|
|
|
Other Income |
1.837 |
1.475 |
2.121 |
|
|
|
TOTAL (A) |
702.426 |
582.873 |
297.588 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
576.973 |
414.321 |
268.045 |
|
|
|
Changes in inventories of finished goods,
work in progress and stock-in-trade |
(11.532) |
14.643 |
(24.483) |
|
|
|
Employee Benefits Expenses |
12.375 |
12.477 |
7.138 |
|
|
|
Other Expenses |
91.805 |
98.279 |
21.165 |
|
|
|
TOTAL (B) |
669.621 |
539.720 |
271.865 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
32.805 |
43.153 |
25.723 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.441 |
11.211 |
12.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.364 |
31.942 |
13.164 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
5.140 |
5.522 |
5.744 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.224 |
26.420 |
7.420 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.409 |
8.909 |
2.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.815 |
17.511 |
4.857 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
7.851 |
4.156 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.56 |
15.48 |
8.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.53 |
3.00 |
1.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.31 |
4.55 |
2.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.82 |
11.57 |
4.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.48 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.11 |
0.95 |
2.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.56 |
2.11 |
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 |
5.500 |
11.314 |
11.313 |
|
Reserves & Surplus |
22.215 |
43.792 |
54.607 |
|
Net
worth |
27.715 |
55.106 |
65.920 |
|
|
|
|
|
|
long-term borrowings |
78.846 |
52.474 |
73.478 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
78.846 |
52.474 |
73.478 |
|
Debt/Equity
ratio |
2.845 |
0.952 |
1.115 |
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 |
295.467 |
581.398 |
700.589 |
|
|
|
96.773 |
20.501 |
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 |
295.467 |
581.398 |
700.589 |
|
Profit |
4.857 |
17.511 |
10.815 |
|
|
1.64% |
3.01% |
1.54% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS
The directors have pleasure in communicating to you that the company has
performed reasonably well during the financial year 2013-2014
It has earned a net profit of Rs. 16.224 millions (Rs. 26.420 millions)
for the year under consideration.
Note:
The registered office address of the company has shifted from Plot
No.1401, 3rd Phase, Near Gama Colony, GIDC, Vapi – 396 195, Gujarat
to the present address w.e.f. 29.04.2010.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10133784 |
11/03/2013 * |
297,193,000.00 |
CORPORATION BANK |
SME MAROL BRANCH,BONANZA,SAHAR PLAZA COMPLEX, AND |
B70715008 |
|
2 |
10102043 |
04/02/2008 * |
5,550,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069, INDIA |
A40829533 |
|
3 |
80017200 |
04/03/2008 * |
32,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069, INDIA |
A35410349 |
* Date of charge modification
FIXED ASSETS:
v Land
v Building
v Computer
v Office Equipment
v Plant and Machinery
v Electric Installation
v Vehicle
v Furniture and Fixtures
v Air Conditioners
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
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.