MIRA INFORM REPORT
|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
PREMAS BIOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 77, Sector - 4, IMT, Manesar – 122050, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.11.2005 |
|
|
|
|
Com. Reg. No.: |
05-035932 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 219.527 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232HR2005PTC035932 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKP03848F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP7329M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing integrated drug discovery solutions to customers in the pharmaceutical and biotechnology space. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 290000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The ratings constrained due ot accumulated losses incurred by the
company, below average financial performance and profitability is under
pressure. However, trade relations are fair. Business is active. Payment terms
are slow. 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.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-124-4546600)
LOCATIONS
|
Registered Office : |
Plot No. 77, Sector - 4, IMT, Manesar – 122050, Haryana, India |
|
Tel. No. : |
91-124-4546600 |
|
Fax No. : |
91-124-4365221 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Debjit Patra |
|
Designation : |
Director |
|
Address : |
H.No. 150, Sector 21-C, Faridabad – 121001, Haryana, India |
|
Date of Birth/Age : |
11.18.1966 |
|
Date of Appointment : |
30.09.2013 |
|
PAN No.: |
AHUPP0261B |
|
DIN No. : |
00008935 |
|
|
|
|
Name : |
Mr. Praveen Kumar Gupta |
|
Designation : |
Director |
|
Address : |
H.No. 95-F, Sector-7, Jasola, New Delhi – 110025, India |
|
Date of Birth/Age : |
29.09.1970 |
|
Date of Appointment : |
17.10.2011 |
|
PAN No. : |
AGYPG7804Q |
|
DIN No. : |
03468769 |
|
|
|
|
Name : |
Mr. Prabuddha Kumar Kundu |
|
Designation : |
Director |
|
Address : |
H.No. A-26, Uppal Southend, Fazilpur Jharsa, Gurgaon – 122101, Haryana, India |
|
Date of Birth/Age : |
19.07.1972 |
|
Date of Appointment : |
17.10.2011 |
|
PAN No. : |
AGRPK9155B |
|
DIN No. : |
05105931 |
|
|
|
|
Name : |
Mr. Avijit Das |
|
Designation : |
Director |
|
Address : |
DF-28, Waverley Drive, Mill Park, Port Elizebeth 6001, South Africa |
|
Date of Birth/Age : |
23.10.1959 |
|
Date of Appointment : |
13.01.2006 |
|
PAN No. : |
ADTPD0979M |
|
DIN No. : |
00398852 |
|
|
|
|
Name : |
Mr. Peter John Lennox |
|
Designation : |
Director |
|
Address : |
80, Glandovey Road, Fendalton, Christchurch 8052, New Zealand |
|
Date of Birth/Age : |
14.10.1964 |
|
Date of Appointment : |
13.01.2006 |
|
DIN No. : |
02776770 |
|
|
|
|
Name : |
Mr. John Ernest Siddall |
|
Designation : |
Director |
|
Address : |
76, Summerton DR, Bluffton Sc 299104802, United States of America |
|
Date of Birth/Age : |
11.10.1943 |
|
Date of Appointment : |
13.01.2006 |
|
DIN No. : |
02792175 |
|
|
|
|
Name : |
Mr. Goutam Das |
|
Designation : |
Director |
|
Address : |
93/I, Tapasya Apartment, Flat 114, Main Road, Malleswaram, Bangalore – 560003, Karnataka, India |
|
Date of Birth/Age : |
20.04.1955 |
|
Date of Appointment : |
12.07.2012 |
|
DIN No. : |
06395749 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
V. N. Mathur |
|
5000 |
|
Rekha Mathur |
|
5000 |
|
Zinchlor Technologies Limited, Guernsey |
|
20208270 |
|
Prabuddha Kumar Kundu |
|
104168 |
|
Narahari Kousik |
|
69930 |
|
Praveen Kumar Gupta |
|
80130 |
|
Nupur Mehrotra |
|
20031 |
|
Kajal Arora |
|
20031 |
|
Soumya Ghosh |
|
5000 |
|
Sanjay Yadav |
|
10000 |
|
Azad Singh |
|
10000 |
|
M. Balachandran |
|
5000 |
|
Sandip Guha |
|
2500 |
|
Vipul Kumar |
|
250 |
|
Hari Nair |
|
2500 |
|
K. Naga Purna Chandra Rao |
|
2500 |
|
Sonia Madan |
|
2500 |
|
Avijit Das |
|
599848 |
|
Goutam Das |
|
500000 |
|
Debjit Patra |
|
300000 |
|
Total |
|
21952658 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
92.05 |
|
Directors or relatives of Directors |
7.22 |
|
Other top fifty shareholders |
0.73 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing integrated drug discovery solutions to customers in the pharmaceutical and biotechnology space. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Canara Bank, 8A, Nehru Ground, NIT, Faridabad - 121001, Haryana, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S K Patodia and Company Chartered Accountants |
|
Address : |
210 , D. R. Chambers, 12/56, D. B. Gupta Road, Karol Bagh, Delhi, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABIFS7708N |
|
|
|
|
Holding company: |
Zinchlor Technologies Limited, Virgin Islands, British |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 220.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21,952,658 |
Equity Shares |
Rs.10/- each |
Rs. 219.527 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 |
219.527 |
90.776 |
90.776 |
|
(b) Reserves & Surplus |
(146.517) |
(142.345) |
(116.113) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.850 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
73.010 |
(50.719) |
(25.337) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
32.634 |
7.673 |
125.020 |
|
(b) Deferred tax liabilities (Net) |
9.010 |
3.172 |
5.785 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.782 |
|
(d) long-term
provisions |
2.102 |
1.665 |
2.960 |
|
Total Non-current
Liabilities (3) |
43.746 |
12.510 |
134.547 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3.550 |
0.000 |
0.000 |
|
(b) Trade
payables |
5.016 |
5.148 |
2.603 |
|
(c) Other
current liabilities |
10.543 |
148.060 |
5.551 |
|
(d) Short-term
provisions |
3.207 |
2.903 |
3.288 |
|
Total Current
Liabilities (4) |
22.316 |
156.111 |
11.442 |
|
|
|
|
|
|
TOTAL |
139.072 |
117.902 |
120.652 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
85.216 |
86.675 |
91.245 |
|
(ii)
Intangible Assets |
0.870 |
1.856 |
2.959 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1.006 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.833 |
0.833 |
0.605 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
86.919 |
89.364 |
95.815 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
20.328 |
6.534 |
2.955 |
|
(c) Trade
receivables |
13.805 |
12.948 |
5.907 |
|
(d) Cash
and cash equivalents |
3.572 |
2.984 |
5.079 |
|
(e) Short-term
loans and advances |
4.438 |
4.012 |
4.198 |
|
(f) Other
current assets |
10.010 |
2.060 |
6.698 |
|
Total
Current Assets |
52.153 |
28.538 |
24.837 |
|
|
|
|
|
|
TOTAL |
139.072 |
117.902 |
120.652 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL
(A) |
71.448 |
65.544 |
82.134 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
61.624 |
86.417 |
84.465 |
|
|
|
TOTAL
(B) |
61.624 |
86.417 |
84.465 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
9.824 |
(20.873) |
(2.331) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.156 |
0.012 |
0.510 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.668 |
(20.885) |
(2.841) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.002 |
7.959 |
7.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1.666 |
(28.844) |
(10.683) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.838 |
(2.612) |
1.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(4.172) |
(26.232) |
(11.887) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(142.345) |
(116.113) |
(104.226) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(146.517) |
(142.345) |
(116.113) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Research Products & Services |
37.952 |
9.380 |
6.735 |
|
|
|
Agency Services |
23.546 |
42.147 |
55.847 |
|
|
TOTAL EARNINGS |
61.498 |
51.527 |
62.582 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.19) |
(2.89) |
(1.31) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.84) |
(40.02) |
(14.47) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.20
|
(24.46) |
(8.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.57 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.50
|
(0.15) |
(4.93) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.34
|
0.18 |
2.17 |
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 |
90.776 |
90.776 |
219.527 |
|
Reserves & Surplus |
(116.113) |
(142.345) |
(146.517) |
|
Share Application money pending allotment |
0.000 |
0.850 |
0.000 |
|
Net
worth |
(25.337) |
(50.719) |
73.010 |
|
|
|
|
|
|
long-term borrowings |
125.020 |
7.673 |
32.634 |
|
Short term borrowings |
0.000 |
0.000 |
3.550 |
|
Total
borrowings |
125.020 |
7.673 |
36.184 |
|
Debt/Equity
ratio |
(4.934) |
(0.151) |
0.496 |
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) |
|
Total Income |
82.134 |
65.544 |
71.448 |
|
|
|
(20.199) |
9.008 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
82.134 |
65.544 |
71.448 |
|
Profit |
(11.887) |
(26.232) |
(4.172) |
|
|
(14.47%) |
(40.02%) |
(5.84%) |
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 |
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 |
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 |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10445382 |
05/07/2013 |
10,000,000.00 |
CANARA BANK |
8A, NEHRU GROUND, NIT, FARIDABAD - 121001, HARYANA, INDIA |
B83202564 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
ECB Loan from Zinchlor Technology (ECB Loan from parent Compnay) Rs. 3,26,33,580 (USD 6,00,000) Payable by (USD 1,50,000 on June 30, 2014) (USD 3,00,000 on April 30, 2015) (USD 75,000 on April 18, 2016) (USD 75,000 on April 30, 2016) |
32.634 |
7.673 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Other loans and
Advances |
|
|
|
From Employees |
1.550 |
0.000 |
|
From Others |
2.000 |
0.000 |
|
Total |
36.184 |
7.673 |
CORPORTE INFORMATION
The Company provides integrated drug discovery solutions to customers in the pharmaceutical and biotechnology space. The Company is in the research and manufacturing space. Currently the Company is in the process of in house research to arrive at products that may require be scaling up and or marketing. The company has contracted with reputed National and International companies for providing them solutions in the research space .
FINANCIAL RESULTS
The Company’s business has shown top line growth from Rs 65.544 Millions in the previous year to Rs 71.448 Millions in the current year, an increase of Rs.5.904 Millions. The Biotech Business has grown by 23.141 Millions from 2012 to 2013. The Company has earned an income of Rs 30.241 Millions on Life Sciences products and services and Rs 38,986 on Biotech business. Though there is an overall profit of Rs 1.666 Millions. The net Loss carried forward to the balance Sheet of Rs 4.172 Millions is due to Differed tax liability, which is in notional in nature.
PERFORMANCE
The year in question has been difficult year for the economy with most of the industrialized countries going through a recession. In spite of the difficult environment, the Company has achieved a number of milestones during the year. The Company’s efforts in developing best in class processes and systems has been rewarded with the Company ISO 9001-2008 certification being renewed in March 2014.The biotechnology business is one with a longer gestation period than most other industries. They believe that with their perseverance, on going efforts to improve productivity, quality and customer service, they will be better placed to meet their vision and goals. Their confidence and strength lies in their business model, IPR and their team of dedicated employees. The company continues to enjoy recognition as a Recognized R&D laboratory by Department of Scientific and Industrial Research. They have been able to engage global pharma and biotech companies for future growth. This showcases the quality of their manpower, the quality of their infrastructure and the quality of the internal projects. They also continue to leverage their expertise in the Genotyping and Gene sequencing space. They are also working actively on diversification and expansion of their Agency offerings and products. The Indian market seems poised for rapid growth and the company appears to be perfectly placed to take advantage of the same.
OUTLOOK FOR THE
FUTURE
Once the economic upturn begins, the Indian economy will be an attractive destination for out sourcing contract research and contract manufacturing services. The Company having created a best in class infrastructure and a strong management team hopes to generate greater opportunities in the business. They expect that consolidation and stability in the international pharmaceutical research space to be in place by the end of the current financial year. Thereafter the CRAMS outsourcing is expected to look up with a sustained and profitable growth.
FIXED ASSETS
v
Tangible
Assets
· Plant and Machinery
· Furnitures and Fixtures
· Office Equipments
· Computer Equipment
v
Intangible
Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges
or conviction registered against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges
or investigation registered against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges
or investigation registered against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press
Report :
No
press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and
other financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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 |
-- |