MIRA INFORM REPORT
|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
VORA PACKAGING PRIVATE LIMITED (w.e.f. 05.12.2005) |
|
|
|
|
Formerly Known
As : |
TUVORA PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
467-A, Vora Bhavan, Opposite Maheshwari Udyan, King’s Circle, Mumbai –
400 019, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.04.1999 |
|
|
|
|
Com. Reg. No.: |
11-119514 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.46.560 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1999PTC119514 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT12661F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT3267D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Packaging Materials. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 237000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company possesses a modest financial profile marked by low position
of reserves and working capital intensive operations during 2013. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The subject can be considered for business dealings 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.
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. Thakur |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-24012330 |
|
Date : |
27.02.2014 |
LOCATIONS
|
Registered Office/ Sales Office : |
467-A, Vora Bhavan, Opposite Maheshwari Udyan, King’s Circle, Mumbai –
400 019, Maharashtra, India |
|
Tel. No.: |
91-22-24012330/ 24012440 |
|
Fax No.: |
91-22-24035297 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
G-27, MIDC Tarapur, District Thane – 401 506, Maharashtra, India |
|
Tel. No.: |
91-2525-272927/ 274720 |
|
Fax No.: |
91-2525-270447/ 274721 |
|
|
|
|
Branch Office 1 : |
Opposite Shribrahama Chaitanya Mandir, Bangalore – 560 050, Karnataka, India |
|
|
|
|
Branch Office 2 : |
Near Narayan Nagar, Bus Station, Ahmedabad – 380 007, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pankaj Laxmikant Vora |
|
Designation : |
Director |
|
Address : |
467-A, Vora Bhavan, Opposite Maheshwari Udyan, King’s Circle, Mumbai –
400 019, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1959 |
|
Qualification : |
BE |
|
Date of Appointment : |
20.04.1999 |
|
DIN No.: |
00575944 |
|
|
|
|
Name : |
Mrs. Shilpa Pankaj Vora |
|
Designation : |
Director |
|
Address : |
467-A, Vora Bhavan, Opposite Maheshwari Udyan, King’s Circle, Mumbai –
400 019, Maharashtra, India |
|
Date of Birth/Age : |
25.03.1960 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
31.03.2003 |
|
DIN No.: |
00786820 |
|
|
|
|
Name : |
Ms. Mansi Pankaj Vora |
|
Designation : |
Director |
|
Address : |
467-A, Vora Bhavan, Opposite Maheshwari Udyan, King’s Circle, Mumbai –
400 019, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1986 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
31.07.2009 |
|
DIN No.: |
02594655 |
KEY EXECUTIVES
|
Name : |
Mr. Thakur |
|
Designation : |
Accounts Head |
|
|
|
|
Name : |
HS Associates |
|
Designation : |
Company Secretaries |
|
Address : |
H-3, 9th Floor, “Everest”, Tardeo, Mumbai – 400 034,
Maharashtra, India |
|
Tel. No.: |
91-22-23513689/ 90/ 1610 Extension 29 |
|
E-Mail : |
|
|
Website : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Pankaj Laxmikant Vora |
3484444 |
74.84 |
|
Shilpa Pankaj Vora |
155908 |
3.35 |
|
Pankaj Vora Jointly with Shilpa Vora |
270139 |
5.80 |
|
Shilpa Vora Jointly with Pankaj Vora |
74564 |
1.60 |
|
Mansi Vora Jointly with Pankaj Vora |
33516 |
0.72 |
|
Kanchi Vora Jointly with Pankaj Vora |
33516 |
0.72 |
|
Kanchi Pankaj Vora |
196956 |
4.23 |
|
Mansi Pankaj Vora |
196956 |
4.23 |
|
Pankaj Vora HUF |
210000 |
4.51 |
|
Total |
4655999 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Packaging Materials. |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011):
|
Particulars |
2010-11 |
|
Licensed Capacity |
Not Applicable |
|
Installed Capacity |
Cap Seals and Liners 8000000 (in ‘000) *as certified by directors and relied upon by auditors, this being
technical matter |
|
Actual Production (in ‘000) |
3677994 |
GENERAL INFORMATION
|
Suppliers : |
·
Reliance Industries Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
End Users ·
Hindustan Unilever Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Cash Credit Rs.105.000 millions (From The Saraswat Co-operative Bank Limited)
Notes: LONG TERM BORROWINGS a) Repayable in 33 monthly installments starting from October 2011 and last installment falling due on June 2014 @ 14.25% p.a. b) Repayable in 48 monthly installments starting from 23.01.2013 and last installment falling due on 23.12.2016 @ 14.25% p.a. c) Repayable in 29 monthly installments starting from 16.10.2013 and last installment falling due on 16.02.2016 @ 14.5% p.a. d) Repayable in 60 monthly installments starting from 25.04.2013 and last installment falling due on 25.03.2018 @ 10.40% p.a. e) Repayable to Maharashtra Sales Tax Department starting from 01.05.2007 and last installment falling due on 01.04.2014. f) Secured on equitable mortgage of Factory Land and Building and hypothecation of stock and book debts as collateral security and personal guarantee by a Director. Term loan secured against hypothecation of Car. SHORT TERM
BORROWINGS a) Cash Credit/ Packing Credit and Export Credit facilities @ 14.5% is secured by hypothecation of stock of RM packing material, stores and spares WIP and finished goods, book debts of the company and secured by second charge on the immovable property. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Contractor Nayak and Kishnadwala Chartered Accountants |
|
Address : |
1/B, 1st Floor, Pushpam, K.D. Road, Vile Parle (West), Mumbai
– 400 056, Maharashtra, India |
|
PAN No.: |
AACFC8587E |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4700000 |
Equity Shares |
Rs.10/- each |
Rs.47.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4655999 |
Equity Shares |
Rs.10/- each |
Rs.46.560
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 |
46.560 |
46.560 |
26.560 |
|
(b) Reserves & Surplus |
12.775 |
9.121 |
7.631 |
|
(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) |
59.335 |
55.681 |
34.191 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
17.329 |
19.908 |
11.988 |
|
(b) Deferred tax liabilities (Net) |
7.359 |
6.274 |
5.490 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term provisions |
0.648 |
0.277 |
0.231 |
|
Total
Non-current Liabilities (3) |
25.336 |
26.459 |
17.709 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
101.156 |
76.128 |
65.971 |
|
(b)
Trade payables |
6.254 |
3.794
|
9.748
|
|
(c)
Other current liabilities |
15.008 |
12.676
|
7.946
|
|
(d)
Short-term provisions |
1.376 |
0.656
|
1.922
|
|
Total
Current Liabilities (4) |
123.794 |
93.254 |
85.587 |
|
|
|
|
|
|
TOTAL |
208.465 |
175.394 |
137.487 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
86.295 |
79.039 |
75.101 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.538 |
0.493 |
0.095 |
|
(iv) Intangible assets under development |
0.350 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.025 |
0.025 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
2.088 |
1.605 |
1.125 |
|
(e)
Other Non-current assets |
6.734 |
5.713 |
4.049 |
|
Total
Non-Current Assets |
96.030 |
86.875 |
80.370 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
46.483 |
45.146
|
25.728
|
|
(c)
Trade receivables |
61.542 |
38.970
|
28.609
|
|
(d)
Cash and cash equivalents |
1.313 |
3.027
|
0.320
|
|
(e)
Short-term loans and advances |
1.151 |
0.686 |
1.860 |
|
(f)
Other current assets |
1.946 |
0.690 |
0.600 |
|
Total
Current Assets |
112.435 |
88.519 |
57.117 |
|
|
|
|
|
|
TOTAL |
208.465 |
175.394 |
137.487 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
201.645 |
147.063 |
132.169 |
|
|
|
Other Income |
0.339 |
1.641 |
1.260 |
|
|
|
TOTAL (A) |
201.984 |
148.704 |
133.429 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Raw Material Consumed |
177.346 |
|
83.169 |
|
|
|
Payments to Employees |
|
|
6.740 |
|
|
|
Manufacturing, Administrative and Selling Expenses |
|
|
34.187 |
|
|
|
Increase/ Decrease in Stocks |
|
|
(5.205) |
|
|
|
TOTAL (B) |
177.346 |
133.104 |
118.891 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
24.638 |
15.600 |
14.538 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
9.734 |
7.505 |
5.927 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.904 |
8.095 |
8.611 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.512 |
5.756 |
4.169 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
5.392 |
2.339 |
4.442 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.737 |
0.850 |
1.471 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX (G-H) (I) |
3.655 |
1.489 |
2.971 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(9.136) |
(10.625) |
(13.596) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(5.481) |
(9.136) |
(10.625) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on F.O.B. basis |
41.786 |
33.447 |
36.076 |
|
|
TOTAL EARNINGS |
41.786 |
33.447 |
36.076 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
38.639 |
19.186 |
27.586 |
|
|
|
Consumable and Stores |
0.152 |
0.193 |
0.182 |
|
|
|
Capital Goods |
1.792 |
0.798 |
0.283 |
|
|
TOTAL IMPORTS |
40.583 |
20.177 |
28.051 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.78 |
0.50 |
1.12 |
|
Expected Sales (2013-2014): Rs.270.000 millions
The above information has been parted by Mr. Thakur (Accounts Head).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.81
|
1.00 |
2.23
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.67
|
1.59 |
3.36
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.58
|
1.34 |
3.23
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.04 |
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.00
|
1.72 |
2.28
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91
|
0.95 |
0.67
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
26.560 |
46.560 |
46.560 |
|
Reserves & Surplus |
7.631 |
9.121 |
12.775 |
|
Net worth |
34.191 |
55.681 |
59.335 |
|
|
|
|
|
|
long-term borrowings |
11.988 |
19.908 |
17.329 |
|
Short term borrowings |
65.971 |
76.128 |
101.156 |
|
Total borrowings |
77.959 |
96.036 |
118.485 |
|
Debt/Equity ratio |
2.280 |
1.725 |
1.997 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
132.169 |
147.063 |
201.645 |
|
|
|
11.269 |
37.115 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
132.169 |
147.063 |
201.645 |
|
Profit |
2.971 |
1.489 |
3.655 |
|
|
2.25% |
1.01% |
1.81% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term borrowings:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long term borrowings |
10.240 |
6.307 |
4.385 |
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Deferred payment
liabilities |
0.140 |
0.385 |
|
SHORT TERM
BORROWINGS |
|
|
|
Repayable on
demand Loan from
Shareholders/ Directors |
38.328 |
29.816 |
|
Total |
38.468 |
30.201 |
RESULT OF OPERATION:
During the year the Company reported Gross Sales of
Rs.230.965 millions and Net Sales of Rs.201.984 millions, a Net Growth of 36%
over the corresponding year 2011-12 and after making provisions for all the
Expenses, the Profit before Depreciation and Interest is Rs.24.638 millions and
achieved a Net Profit for the year before tax is Rs.5.392 millions. Net profit
after provision of all Taxes is Rs.3.655 millions.
FIXED ASSETS:
Tangible Assets
·
Land (Leasehold)
·
·
Plant and Machinery
·
Computer Equipments
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
Intangible Assets
·
ERP 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.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.