MIRA
INFORM REPORT
|
Report Date : |
26.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GREEN CROP INTERNATIONAL PRIVATE LIMITED |
|
|
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Registered
Office : |
205, Vasudha Equinox, Pune - Mumbai |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.12.2001 |
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Com. Reg. No.: |
11-017841 |
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Capital
Investment / Paid-up Capital : |
Rs. 25.000 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U01122PN2001PTC017841 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEG04470E |
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PAN No.: [Permanent Account No.] |
AABCG7263M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Fertilizers and Pesticides. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 160000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Reserves of the company seems to be low during 2013. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 PARTED BY
|
Name : |
Mr. Shekhar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-40-27605932 |
|
Date : |
20.02.2014 |
LOCATIONS
|
Registered Office : |
205, Vasudha Equinox, Pune - Mumbai Old Highway, Near Khadki Railway Station,
Bopodi, Pune – 411003, Maharashtra, India |
|
Tel. No.: |
91-20-32677090/ 89/ 25435110/ 25435107 |
|
Mobile No.: |
91-9822502735 (Mr. Sharad Wamanrao Sawant) |
|
Fax No.: |
91-20-25435109 |
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E-Mail : |
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Website : |
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Head Office : |
402, Reliance Residency, Opposite NTR Stadium, Tel No : 91-40-27605932/35 Fax No: 91-40-66686468 Mobile No: 91-9866045000 (Mr. R. Venugopal) / 9849878444 (Mr. MVRC
Sekar) / Mr. V.Srinivas Reddy (91-9849638001) E-Mail: greencrop@rediffmail.com No.85/S F-7, 2nd Floor, Gangamma Rangasetty Complex, 3rd
Main, 1st Cross, New Tharagupet, Mobile No: 91-9945118897 / 91-9448101008 (Mr. LCM Reddy) Fax No: 91-80-26707861 E-Mail: greencropbangalore@rediffmail.com C/o. H.R. Business Links, 64 Thaalai Thoppu, G.N. Mills Post, Tel No: 91-422-4383008/4384009 Fax No: 91-422-2648659 Mobile No: 91-9848023304 / 9443723304 (Mr. S. Rajendran) /
91-9842230637 (Mr. Kumaraswamy) E-Mail: gciplcbe@airtelmail.in Ahmedabad C/o, Bhole Agro Traders, S-34, Tirupati Estate, Opposite House of
Kedia, N.11.8, ASLALI, Ahmedabad, Gujarat, India Tel No: 91-2718-261238 Mobile No: 91-9898520940/9825455246 C/o Mundra Distributors, 1st Floor, Gopal Bagh, Tel No: 91-771-2888836 / 2529936 / 2525536 Fax No: 91-771-4030436 (Mr. Rao) / 2528836 |
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Factory : |
GAT No.389, Zendewadi, |
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Tel No : |
91-2115-202730 |
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Location : |
Leased |
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Branch Office : |
Located at: ·
·
|
|
Location : |
Rented |
DIRECTORS
As on 20.07.2013
|
Name : |
Mr. Sharad Wamanrao Sawant |
|
Designation : |
Managing Director |
|
Address : |
Great Eastern Retreat, Flat No. 404, Lakakki Road, Model Colony,
Shivaji Nagar, Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1942 |
|
Date of Appointment : |
12.12.2001 |
|
DIN No.: |
00151604 |
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|
|
|
Name : |
Mr. Balkrishna Dwarkadas Bhutada |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
01.11.1958 |
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Date of Appointment : |
06.12.2001 |
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DIN No.: |
00262012 |
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|
Name : |
Mr. Dyanoba Baliram Karegaonkar |
|
Designation : |
Director |
|
Address : |
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Date of Birth/Age : |
25.08.1951 |
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Date of Appointment : |
06.12.2001 |
|
DIN No.: |
00262285 |
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|
|
Name : |
Mr. Popatrao Sonaji Deshmukh |
|
Designation : |
Director |
|
Address : |
B-3/3 Ragdari, |
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Date of Birth/Age : |
15.03.1952 |
|
Date of Appointment : |
12.12.2001 |
|
DIN No.: |
00262182 |
KEY EXECUTIVES
|
Name : |
Mr. Shekhar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.07.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 20.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
10.00 |
|
Directors or relatives of Directors |
67.78 |
|
Other top fifty shareholders |
22.22 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fertilizers and Pesticides. |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· China Dubai |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· Bank of Maharashtra, Agri Hi Tech Branch, Mangalmurti Complex, Sinhgad Road, Pune – 411030, Maharashtra, India |
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Facilities : |
NOTE LONG TERM
BORROWINGS · Secured by Equitable mortgage of office premises. Repayable in 84 monthly installment commencing from May 2012, Interest payable @ 13.60% p.a. Secured by hypothecation of Machinery and personal
guarantee of Directors. Payable in 36 monthly Installments commenced from
July 2010 with Interest @ 12.25% p.a. Secured by hypothecation of Motor cars. Payable in 36
monthly installments commenced from November 2010, Interest @ 8% p.a. Secured by hypothecation of Motor car. Payable in 36
monthly installments commenced from September 2011, Interest @ 11.25% p.a. Secured by hypothecation of Motor car. Payable in 36
monthly installments commenced from September 2009, Interest @ 8.25% p.a. Long Term Borrowing
Guaranteed By Directors
SHORT TERM
BORROWINGS · Secured by hypothecation of movable plant and machinery, inventory and book debts and also mortgage of some of the Directors' and a member's personal property and also by personal guarantees of some of the Directors and a member. Interest payable @ 13.50% p.a. Secured by hypothecation of stocks and Debtors and
personal guarantee of Directors Interest payable @ 15% p.a. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Chag Pahwa and Shah Chartered Accountants |
|
Address : |
502, Dhanlaxmi Mahal, Nanda Patkar Road, Vile Parle (East), Mumbai –
400057, Maharashtra, India |
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Tel. No.: |
91-22-26143358/ 26143359 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AABFC6555H |
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|
|
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Enterprises where key
management personnel along with their relatives exercise significant
influence : |
Green India Exports Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000
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 |
25.000 |
17.946 |
15.320 |
|
(b) Reserves & Surplus |
16.126 |
16.668 |
13.874 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
7.054 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
41.126 |
41.668 |
29.194 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.376 |
5.840 |
1.089 |
|
(b) Deferred tax liabilities (Net) |
0.218 |
0.123 |
0.008 |
|
(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) |
4.594 |
5.963 |
1.097 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
40.280 |
35.733 |
26.254 |
|
(b) Trade payables |
37.043 |
32.145 |
37.367 |
|
(c) Other current
liabilities |
26.346 |
26.507 |
22.551 |
|
(d) Short-term provisions |
3.934 |
3.133 |
3.255 |
|
Total Current Liabilities (4) |
107.603 |
97.518 |
89.427 |
|
|
|
|
|
|
TOTAL |
153.323 |
145.149 |
119.718 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18.061 |
17.761 |
5.800 |
|
(ii) Intangible Assets |
0.024 |
0.012 |
0.007 |
|
(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 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.760 |
0.945 |
0.988 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
18.845 |
18.718 |
6.795 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
49.577 |
47.802 |
42.952 |
|
(c) Trade receivables |
81.336 |
67.213 |
57.506 |
|
(d) Cash and cash
equivalents |
2.034 |
9.993 |
11.827 |
|
(e) Short-term loans and
advances |
0.600 |
1.416 |
0.619 |
|
(f) Other current assets |
0.931 |
0.007 |
0.019 |
|
Total Current Assets |
134.478 |
126.431 |
112.923 |
|
|
|
|
|
|
TOTAL |
153.323 |
145.149 |
119.718 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
350.000 (Approx.) |
300.000 (Approx.) |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.103 |
8.913 |
10.706 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.126 |
1.405 |
1.136 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.977 |
7.508 |
9.570 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.595 |
2.414 |
3.128 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
5.382 |
5.094 |
6.442 |
|
|
|
|
|
|
|
|
|
Less/ Add |
EXCESS PROVISION
FOR TAX |
0.000 |
0.020 |
0.053 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
15.618 |
13.024 |
8.851 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.200 |
0.200 |
0.200 |
|
|
|
Provision for Doubtful Debts |
3.000 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
2.500 |
1.996 |
1.826 |
|
|
|
Tax on Distribution of Dividend |
0.425 |
0.324 |
0.296 |
|
|
BALANCE CARRIED
TO THE B/S |
14.875 |
15.618 |
13.024 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.199 |
0.090 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
24.989 |
31.343 |
26.195 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
2.63 |
3.25 |
4.20 |
|
Expected Sales (2013-2014) : Rs. 450.000 Millions
The above information has been parted by Mr. Shekhar (Accounts Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.20
|
5.17
|
7.99
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.18
|
0.33
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09
|
1.00
|
0.94
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.30
|
1.26
|
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 |
15.320 |
17.946 |
25.000 |
|
Reserves & Surplus |
13.874 |
16.668 |
16.126 |
|
Share Application money
pending allotment |
0.000 |
7.054 |
0.000 |
|
Net
worth |
29.194 |
41.668 |
41.126 |
|
|
|
|
|
|
Long-term borrowings |
1.089 |
5.840 |
4.376 |
|
Short term borrowings |
26.254 |
35.733 |
40.280 |
|
Total
borrowings |
27.343 |
41.573 |
44.656 |
|
Debt/Equity
ratio |
0.937 |
0.998 |
1.086 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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 |
No |
|
18] |
Major customers |
No |
|
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10440106 |
27/06/2013 |
1,200,000.00 |
BANK OF MAHARASHTRA |
AGRI HI-TECH BRANCH, MANGALMURTI COMPLEX, SINHAGAD ROAD, PUNE - 411030, MAHARASHTRA, INDIA |
B80963366 |
|
2 |
10346561 |
28/03/2012 * |
6,000,000.00 |
BANK OF MAHARASHTRA |
AGRI HI-TECH BRANCH, MANGALMURTI COMPLEX, SINHAGAD ROAD, PUNE - 411030, MAHARASHTRA, INDIA |
B36725448 |
|
3 |
10333224 |
20/05/2010 |
675,000.00 |
BANK OF MAHARASHTRA |
AGRI HI-TECH BRANCH, MANGALMURTI COMPLEX, SINHAGAD ROAD, PUNE - 411030, MAHARASHTRA, INDIA |
B18544049 |
|
4 |
10331328 |
25/03/2009 |
952,000.00 |
BANK OF MAHARASHTRA |
AGRI HI-TECH BRANCH, MANGALMURTI COMPLEX, SINHAGAD ROAD, PUNE - 411030, MAHARASHTRA, INDIA |
B18503268 |
|
5 |
90093038 |
17/02/2005 |
3,600,000.00 |
BANK OF MAHARASHTRA |
AGRI HI-TECH BRANCH, MANGALMURTI COMPLEX, SINHAGAD ROAD, PUNE - 411030, MAHARASHTRA, INDIA |
- |
|
6 |
90086933 |
18/08/2004 |
1,125,000.00 |
BANK OF MAHARASHTRA |
LOKMANGAL '1501', SHIVAJINAGAR, PUNE - 411005, MAHARASHTRA, INDIA |
- |
|
7 |
90086653 |
28/11/2012 * |
45,000,000.00 |
BANK OF MAHARASHTRA |
AGRI HI TECH
BRANCH, MAGALMURTI COMPLEX, SINHGAD |
B65915464 |
|
8 |
90085271 |
15/10/2004 * |
10,000,000.00 |
BANK OF MAHARASHTRA |
LOKMANGAL '1501', SHIVAJINAGAR, PUNE - 411005, MAHARASHTRA, INDIA |
- |
* Date of charge modification
OPERATION:
Highlights of performance during 2012/13:
· Fertilizer activity has grown by 10% compared to previous year while the Pesticides activity remained more or less at the same level.
· Bangalore Sales Office turnover has crossed the figure of Rs.20.000 Millions and registered a growth of 74% over previous year.
Raipur Sales Office registered a growth of 50% over previous year.
Hyderabad Saled Office continued to perform better and registered growth of 21% over previous year.
Akola sales office registered growth of 12% over previous year.
Due to various factors, Ahmedabad and Pune sales offices have degrown by 44% & 16% respectively over previous year and action is being initiated to reverse the trend.
Plans for financial year 2013/14 will be:
· To Set-up the formulation plant at the earliest.
· To realign marketing based on classification of products, i.e., focus on high contributing products.
· To improve material procurement system and reduce inventory holding period.
· To contain expenses
· To reduce ADCP (Average Debt Collection Period) and minimize Working Capital interest
· To build assets.
FIXED ASSETS
v
Tangible
Assets
Buildings
Plant
and Machinery
Computers
Printers
Furniture
and Fixtures
Vehicles
Motor
Cycle
Air
Conditioners
Fax
and EPBX
Aqua
Guard
Emergency
Power System
Mobile
Hand Set
UPS
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 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.61.98 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
1 |
|
--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 |
|
28 |
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.