MIRA
INFORM REPORT
|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMPACET SPECIALITY PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-276, D-277 and D-283, Ranjangaon
Industrial Area, Karegaon, Shirur,
Pune – 412220, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.03.2010 |
|
|
|
|
Com. Reg. No.: |
11-143078 (NEW) 11-200706 (OLD) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.180.023 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209PN2010FTC143078 (NEW) U25209MH2010FTC200706 (OLD) |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMA36916F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA2806P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the manufacture and sale of Plastic
master batches and Color Concentrates. |
|
|
|
|
No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 96000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an Indian subsidiary of a foreign registered entity. It is
an established company having moderate track record. Eventhough the company has seen a batter increase in
tis sales volume, there are continuous losses
incurred by the company for past few year, which has further resulted in its
accumulation during 2013. The rating also take into consideration increase in external
borrowings and other payables. However, trade relations appears to be fair. Business is active.
Payment terms are reported as slow. The subject can be considered for business dealings with great
caution. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield
(new) and brown field (existing) pharmaceutical companies, despite concerns over
genetic drugs going out of production, if multi-national companies take over
domestic ones. In M&A deals, a non compete clause would not be allowed,
except in special circumstances. The Department of Industrial Policy and
Promotion plans to release the next edition of its consolidated foreign direct
investment policy document on March 31, incorporating changes made in the past
year. DIPP compiles all policies related to India’s FDI regime into a single
document to make it easy for investors to understand. 185 million estimated
number of mobile internet users in India by June 2014, according to a report by
the Internet & Mobile Association of India and IMRB International.
India had 110 million mobile internet users with 25 million in rural
areas. $3.77 tn estimated global IT spending in 2014,
according to research firm Gartner Inc. The growth forecast for this year is
cut to 3.1 %from the earlier estimate of 3.5 %. The spending growth forecast
for telecom services – a segment that accounts for more than 40 % at total IT
spending – from 1.9 per cent to 1.2 per cent is the main reason for this
overall IT cut. A Reserve Bank of India committee has recommended setting up a
special category of lenders who would cater to small businesses and households,
to expand the number of customers with access to banking services. These banks
would focus onproviding payment services and deposit
products. Indian banks want the free use of automated teller machines to
be capped at five transactions in a month including that of the bank in which
the account is active. This follows state government order to banks to install
security guards at ATM booths after a woman banker was assaulted in Bangalore.
The government is likely to present a vote on Account in mid-February. The annual
Economic Survey will be tabled later in Parliament along with the full Budget.
A full Budget for 2014/15 is likely to be present in July by the new government
formed after the General Election. The government will soon launch an internet
spy system, called Netra, to detect malafide messages. Security agency will deploy the system
to capture dubious voice traffic on applications such as Skype
and Google Talk, as well as tweeters.
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 (GENERAL DETAILS)
|
Name : |
Mr. Murali |
|
Designation : |
Finance Department |
|
Contact No.: |
91-2138-611999 |
|
Date : |
27.02.2014 |
LOCATIONS
|
Registered Office / Factory : |
D-276, D-277 and D-283, Ranjangaon
Industrial Area, Karegaon, Shirur,
Pune – 412220, Maharashtra,
India |
|
Tel. No.: |
91-2138-611999 |
|
Fax No.: |
91-2138-674301 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Branch Office : |
408, B Wing, Everest Chambers, |
|
Tel. No.: |
91-22-66779933 |
|
Fax No.: |
91-22-28562266 |
|
|
|
|
Overseas Office : |
Located at ·
Thailand ·
China |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Wipawadee Paopaka
|
|
Designation : |
Director |
|
Address : |
119/29-30, |
|
Date of Birth/Age : |
17.11.1976 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02856750 |
|
|
|
|
Name : |
Mr. Udomsri Sakdiarpa
|
|
Designation : |
Director |
|
Address : |
479/46, Moo 12, |
|
Date of Birth/Age : |
14.05.1967 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02856919 |
|
|
|
|
Name : |
Mr. Yves Achille Jacques Carette
|
|
Designation : |
Director |
|
Address : |
Lot No. 7, Burapha Golf, 281 Moo 4, Tambon Bung, Sriracha,
Chonburi-20110 |
|
Date of Birth/Age : |
03.11.1954 |
|
Date of Appointment : |
10.03.2010 |
|
DIN No.: |
02881789 |
|
|
|
|
Name : |
Rudi Raymond Joseph Scheman |
|
Designation : |
Additional Director |
|
Address : |
64/19, Moo4, Pluakdaeng, |
|
Date of Birth/Age : |
22.09.1964 |
|
Date of Appointment : |
21.05.2010 |
|
DIN No.: |
03072306 |
|
|
|
|
Name : |
Amnon Kones |
|
Designation : |
Additional director |
|
Address : |
14975 24 Ave, |
|
Date of Birth/Age : |
07.09.1956 |
|
Date of Appointment : |
21.05.2010 |
|
DIN No.: |
03075440 |
|
|
|
|
Name : |
Mr. Alwin Godfrey Salins
|
|
Designation : |
Additional director |
|
Address : |
Flat No. B-2-201, Yellow Blossom SNO 50 B T, |
|
Date of Birth/Age : |
16.10.1969 |
|
Date of Appointment : |
30.09.2013 |
|
PAN No.: |
AIWPS0546F |
|
DIN No.: |
03213774 |
|
|
|
|
Name : |
Kamton Sa Nguanpruk |
|
Designation : |
Additional director |
|
Address : |
2/245 Sukhumvit 42 Alley, Prakanong Sub-District, Klongtoey
District. Bangkok, 10110, Thailand |
|
Date of Birth/Age : |
29.10.1971 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
05209811 |
|
|
|
|
Name : |
Mr. Dnyaneshwar Bhagwantrao
Kawade |
|
Designation : |
Director |
|
Address : |
Dwarka Sun Crest Apts
Flat 202, Rahatni Road. Pimple Saudagar
Pune:411027, India |
|
Date of Birth/Age : |
09.02.1971 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06393196 |
|
|
|
|
Name : |
Mr. Santosh Dinkarrao
Choudhari |
|
Designation : |
Director |
|
Address : |
Green Groves Garcinia, A 3/103, Behind Moze College Nagar Road, Wagholi, Pune – 412207, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1968 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06646284 |
KEY EXECUTIVES
|
Name : |
Mrs. Memangi Deepak Bhatt |
|
Designation : |
Secretary |
|
Address : |
C-210, Shanti Kishan
Building – 2, V.S Road, Maratha Colony, Dahisar
Road (East), Mumbai – 400068, Maharashtra,
India |
|
Date of Birth/Age : |
30.01.1983 |
|
Date of Appointment : |
01.01.2013 |
|
PAN No.: |
AMJPB2559C |
|
|
|
|
Name : |
Mr. Murali |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ampacet Cyprus Limited, Thailand |
|
18002306 |
|
Ampacet Investment II S.a.r.l. |
|
1 |
|
Total |
|
18002307 |
As on 07.12.2013
|
Names of Allottees |
|
No. of Shares |
|
Ampacet Cyprus Limited, Thailand |
|
3789313 |
|
Total |
|
3789313 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacture and sale of
Plastic master batches and Color Concentrates. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
Suppliers : |
Exxon Mobil Chemical Asia Pacific Pte
Limited |
|
|
|
|
Customers : |
Bar Flex Kalpana Industries Limited |
|
|
|
|
No. of Employees : |
70 (Approximately) |
|
|
|
|
Bankers : |
HDFC Bank, Pune, Maharashtra,
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountants |
|
Address : |
Engineering Centre, 6th floor, |
|
PAN No.: |
AAAFW4298E |
|
|
|
|
Holding Company : |
Ampacet Cyprus Limited, Cyprus |
|
|
|
|
Ultimate Holding Company : |
Ampacet Corporation USA |
|
|
|
|
Associate |
|
|
|
|
|
Enterprises which
are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
SDA Advisors Private Limited CIN No.: U74140MH2007PTC169571 |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital : Rs.400.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.217.916
Millions
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
18002307 |
Equity Shares |
Rs.10/- each |
Rs.180.023
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 |
180.023 |
180.023 |
139.291 |
|
(b) Reserves & Surplus |
(155.921) |
(87.443) |
(8.840) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
50.156 |
|
Total
Shareholders’ Funds (1) + (2) |
24.102 |
92.580 |
180.607 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
619.914 |
569.475 |
261.523 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
20.683 |
(12.876) |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.790 |
0.121 |
|
Total Non-current Liabilities (3) |
619.914 |
590.948 |
248.768 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
639.349 |
485.073 |
177.299 |
|
(c) Other current
liabilities |
56.091 |
33.102 |
5.853 |
|
(d) Short-term provisions |
2.917 |
2.425 |
0.165 |
|
Total Current Liabilities (4) |
698.357 |
520.600 |
183.317 |
|
|
|
|
|
|
TOTAL |
1,342.373 |
1,204.128 |
612.692 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
365.895 |
391.550 |
66.991 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
305.803 |
|
(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 |
119.549 |
88.293 |
5.515 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
485.444 |
479.843 |
378.309 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
303.359 |
407.049 |
117.714 |
|
(c) Trade receivables |
460.807 |
260.492 |
0.000 |
|
(d) Cash and cash
equivalents |
66.440 |
46.264 |
62.142 |
|
(e) Short-term loans and
advances |
25.897 |
7.404 |
54.527 |
|
(f) Other current assets |
0.426 |
3.076 |
0.000 |
|
Total Current Assets |
856.929 |
724.285 |
234.383 |
|
|
|
|
|
|
TOTAL |
1,342.373 |
1,204.128 |
612.692 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1270.297 |
471.863 |
2.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
541.871 |
39.732 |
|
|
|
(including
financial and depreciation expenses) |
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(70.008) |
(37.448) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
15.730 |
6.174 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
(85.738) |
(43.622) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
32.216 |
0.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(89.161) |
(117.955) |
(43.859) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(20.683) |
33.558 |
(12.876) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(68.478) |
(151.513) |
(30.983) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
138.700 |
41.235 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.80) |
(8.42) |
(2.22) |
|
Expected Sales (2013-2014): Rs.1500.000 Millions
The above information has been parted by Mr. Murali,
Finance Department
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.39) |
(32.11) |
(1356.52) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.64) |
(9.80) |
(14.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.70) |
(1.27) |
(0.24) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
25.72 |
6.15 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.39 |
1.28 |
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 |
139.291 |
180.023 |
180.023 |
|
Reserves & Surplus |
(8.840) |
(87.443) |
(155.921) |
|
Net
worth |
130.451 |
92.580 |
24.102 |
|
|
|
|
|
|
long-term borrowings |
261.523 |
569.475 |
619.914 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
261.523 |
569.475 |
619.914 |
|
Debt/Equity
ratio |
2.005 |
6.151 |
25.720 |
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 |
2.284 |
471.863 |
1,270.297 |
|
|
|
20,559.501 |
169.209 |
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
|
2.284 |
471.863 |
1,270.297 |
|
Profit |
(30.983) |
(151.513) |
(68.478) |
|
|
(1356.52%) |
(32.11%) |
(5.39%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
No |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Fully convertible debentures others |
272.195 |
272.195 |
|
Other loans and advances |
347.719 |
297.280 |
|
Total |
619.914 |
569.475 |
Notes:
a) The Company has issued 401,836 Compulsorily fully convertible debentures on 7 December 2010 at premium of Rs.41.60 per debenture and 2,320,110 Compulsorily fully convertible debentures on 17 October 2011 at premium of Rs.27.37 per debenture to Ampacet Cyprus Limited (the holding company). The face value of the debenture is Rs.100. These debentures carry interest rate of SBI PLR p.a., currently at 14.50% and are convertible to equity shares after a period of three years from the date of allotment. Accordingly, 401,836 debentures are convertible into equity shares on 7 December 2013 and 2,320,110 debentures are convertible into equity shares on 17 October 2014.
b) External Commercial Borrowing (ECB) represents borrowings of EURO 5,000,000 availed from Ampacet Cyprus Limited (the holding company) during the financial years 2010 - 2013. During the year, final drawdown of EURO 650,000 (previous year EUR 850,000) has been received by the Company. ECB carries interest @ of 6 months Euribor rate + 3% and is repayable after five years from the date of each drawdown. The ECB shall be used for the purpose of construction of factory and purchase of plant and machinery (excluding specifically the purchase of land and use for working capital).
c)
Particulars of continuous default in repayment
of interest to debenture holders The Company has defaulted in the payment of
interest due on debentures and ECB amounting to Rs.47.540 Millions (Previous
year: Rs.1.692 Millions), however these have been fully accrued for and
disclosed as Interest accrued and due on borrowings under note 11 to the
financial statements.
BACKGROUND AND
PRINCIPAL ACTIVITIES
The Company was incorporated as a private limited company on 10 March 2010 under the Companies Act, 1956 and is a wholly owned subsidiary of Ampacet Cyprus Limited, Cyprus (the holding company).
The Company is engaged in the manufacture and sale of
Plastic master batches and Color Concentrates.
NOTE: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
2 |
|
--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 |
NO |
|
--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 |
|
27 |
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.