MIRA
INFORM REPORT
|
Report Date : |
09.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
VAMSHADHARA PAPER MILLS LIMITED |
|
|
|
|
Registered
Office : |
Madapam Narasannapeta Mandal, Srikakulam – 532 421, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.04.1980 |
|
|
|
|
Com. Reg. No.: |
01-002664 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 78.075 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21012AP1980PLC002664 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV7330B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Paper and Paper Made Products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 690000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Management of the company has failed to file its financials of 2012
and 2013 with government department. Mr. Ravi Kumar, DGM finance denied to provide any information to us. As per previous, overall financial position appears to be moderate. However, trade relation are reported to be fair. Business is active.
Payment terms are reported to be unknown. 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current
account deficit narrowed in the quarter ended September as government measures to
curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million
in September, 2012, according to Deloitte report. The number of transactions
has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB” |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
16.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
16.08.2013 |
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 DENIED BY
|
Name : |
Mr. Ravi Kumar |
|
Designation : |
DGM Finance |
|
Contact No.: |
91-9393437604 |
|
Date : |
08.01.2014 |
LOCATIONS
|
Registered Office/ Mills : |
Madapam Narasannapeta Mandal, Srikakulam – 532 421, Andhra Pradesh,
India |
|
Tel. No.: |
91-8942-232132/ 232139 |
|
Mobile No.: |
91-9393437604 (Mr. Ravi Kumar) |
|
Fax No.: |
91-8942-232151 |
|
E-Mail : |
DIRECTORS
As on: 29.10.2011
|
Name : |
Mr. Sennar Ramamurthy Rabindar |
|
Designation : |
Director |
|
Address : |
Paper City, G. T. Road, Munasab Peta Village, Srikakulam - 532 001, Andhra Pradesh, India |
|
Date of Birth/Age : |
23.04.1943 |
|
Date of Appointment : |
02.04.1980 |
|
DIN No.: |
00450841 |
|
|
|
|
Name : |
Mr. Ramamurthy Rajendran |
|
Designation : |
Managing Director |
|
Address : |
Paper City, G. T. Road, Munasab Peta Village, Srikakulam - 532 001, Andhra Pradesh, India |
|
Date of Birth/Age : |
17.05.1950 |
|
Date of Appointment : |
25.04.1984 |
|
DIN No.: |
00450685 |
|
|
|
|
Name : |
Mr. Venugopala Rao Malampati |
|
Designation : |
Director |
|
Address : |
Plot No.1202, Road No.36, Jubli Hills, Hyderabad – 500038, Andhra Pradesh, India |
|
Date of Birth/Age : |
20.12.1940 |
|
Date of Appointment : |
26.03.1984 |
|
DIN No.: |
00012704 |
|
|
|
|
Name : |
Mr. Attaluri Durga Lakshmi Prasad |
|
Designation : |
Director |
|
Address : |
Chief Executive, Jeypore Sugars Limited, Chagallu, West Godavari - 534 342, Andhra Pradesh, India |
|
Date of Birth/Age : |
09.01.941 |
|
Date of Appointment : |
26.03.1991 |
|
DIN No.: |
02519431 |
|
|
|
|
Name : |
Mr. Rabindar Vijayshekar |
|
Designation : |
Whole-Time-Director |
|
Address : |
Paper City, G. T. Road, Munasab Peta Village, Srikakulam – 532001, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1967 |
|
Date of Appointment : |
01.07.1993 |
|
DIN No.: |
00833432 |
|
|
|
|
Name : |
Mr. Rajendran Koushik |
|
Designation : |
Whole-Time-Director |
|
Address : |
Paper City, G. T. Road, Munasab Peta Village, Srikakulam – 532001, Andhra Pradesh, India |
|
Date of Birth/Age : |
20.07.1985 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
00450931 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi Kumar |
|
Designation : |
DGM Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.10.2011
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 29.10.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
16.56 |
|
Directors or relatives of directors |
|
71.50 |
|
Other |
|
11.94 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Paper and Paper Made Products |
||||
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|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
Class of goods manufactured: Kraft Paper, News Print
|
Year |
Units |
Installed
Capacity |
Actual
Production |
|
2010-2011 (Kraft) |
MTS |
42750 |
41029 |
|
2010-2011 (News Print) |
MTS |
19800 |
19182 |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Andhra Bank, Main Branch, |
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Facilities : |
(Rs.
In Millions)
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|
|
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Banking
Relations : |
-- |
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|
|
|
Finance Institutions : |
Andhra Pradesh State Financial Corporation, 5-9-194, Chirag Ali Lane, Abids, Hyderabad - 500001, Andhra Pradesh, India |
|
|
|
|
Auditors : |
|
|
Name : |
Venkatasrinivas and Company Chartered Accountants |
|
Address : |
D.No.9-29-19/A(1), Flat No.101, Level-1, " |
|
PAN No.: |
AAHFV4986H |
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|
|
|
Associates : |
Spacengineers |
CAPITAL STRUCTURE
As on: 29.10.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7807527 |
Equity Shares |
Rs.10/- each |
Rs. 78.075
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
78.075 |
70.653 |
24.663 |
|
|
2] Share Application Money |
1.675 |
23.612 |
55.751 |
|
|
3] Reserves & Surplus |
93.656 |
66.560 |
14.064 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
173.406 |
160.825 |
94.478 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
408.965 |
351.455 |
242.022 |
|
|
2] Unsecured Loans |
59.208 |
59.941 |
40.595 |
|
|
TOTAL BORROWING |
468.173 |
411.396 |
282.617 |
|
|
DEFERRED TAX LIABILITIES |
24.118 |
21.367 |
7.435 |
|
|
|
|
|
|
|
|
TOTAL |
665.697 |
593.588 |
384.530 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
390.996 |
338.880 |
272.688 |
|
|
Capital work-in-progress |
34.411 |
43.829 |
20.682 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
94.863
|
116.397
|
45.512 |
|
|
Sundry Debtors |
205.796
|
161.952
|
82.355 |
|
|
Cash & Bank Balances |
24.997
|
20.689
|
9.893 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
79.137
|
49.151
|
28.669 |
|
Total
Current Assets |
404.793
|
348.189
|
166.429 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
142.863
|
127.900
|
62.928 |
|
|
Other Current Liabilities |
17.040
|
9.401
|
12.986 |
|
|
Provisions |
4.600
|
0.038
|
|
|
Total
Current Liabilities |
164.503
|
137.339
|
75.914 |
|
|
Net Current Assets |
240.290
|
210.850
|
90.515 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.029 |
0.645 |
|
|
|
|
|
|
|
|
TOTAL |
665.697 |
593.588 |
384.530 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1321.653 |
1026.524 |
396.506 |
|
|
|
Other Income |
15.311 |
12.593 |
4.123 |
|
|
|
TOTAL (A) |
1336.964 |
1039.117 |
400.629 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
859.418 |
|
|
|
|
|
Manufacturing service costs |
214.394 |
198.297 |
|
|
|
|
Employee related expenses |
42.290 |
37.215 |
|
|
|
|
Administrative selling other expenses |
106.051 |
87.579 |
|
|
|
|
TOTAL (B) |
1222.153 |
952.356 |
379.225 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
114.811 |
86.761 |
21.404 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST & FINANCIALEXPENSES (D) |
45.279 |
37.991 |
17.644 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
69.532 |
48.770 |
3.760 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.108 |
42.179 |
14.807 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
22.424 |
6.591 |
(11.047) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.351 |
3.415 |
0.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
15.073 |
3.176 |
(11.247) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials (Waste Paper) |
189.270 |
174.656 |
105.805 |
|
|
TOTAL IMPORTS |
189.270 |
174.656 |
105.805 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1.93 |
0.45 |
(4.56) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.12 |
0.31 |
(2.81) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.70 |
0.64 |
(2.79) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.81 |
0.96 |
(2.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.05 |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.70 |
2.56 |
2.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.47 |
2.53 |
2.19 |
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 |
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 |
No |
|
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) |
No |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2011 |
As on 31.03.2010 |
|
Public deposits |
7.740 |
7.051 |
|
Deferred sales tax loan |
48.036 |
48.519 |
|
Other debt |
3.432 |
4.371 |
|
|
|
|
|
Total |
59.208 |
59.941 |
FINANCIAL RESULTS
The company has achieved a net Profit of Rs.15.073 millions for the year ended 31st March, 2011 as against a net Profit of Rs.3.176 millions during the previous year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10457254 |
24/10/2013 |
30,000,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAG ALI LANE, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
B88329255 |
|
2 |
10443124 |
24/07/2013 |
622,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA |
B82179599 |
|
3 |
10410781 |
27/01/2013 |
155,000,000.00 |
ANDHRA BANK |
MAIN BRANCH, GT ROAD, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA |
B70431903 |
|
4 |
10334069 |
23/01/2012 |
25,000,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAG ALI LANE, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
B31478134 |
|
5 |
10273720 |
23/03/2011 |
28,800,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAG ALI LANE,, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
B08669350 |
|
6 |
10239971 |
21/09/2010 |
15,000,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAGA ALI LANE, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
A94780517 |
|
7 |
10196118 |
01/12/2009 |
15,000,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
A77116796 |
|
8 |
10148220 |
12/12/2008 |
3,300,000.00 |
ANDHRA BANK |
48/39, WAVOO MANSION, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA |
A55148084 |
|
9 |
10113939 |
03/05/2008 |
7,500,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
A40113870 |
|
10 |
10098233 |
12/04/2008 |
38,000,000.00 |
ANDHRA BANK |
MAIN BRANCH, SRIKAKULAM, ANDHRA PRADESH - 532001, |
A36364495 |
|
11 |
10089627 |
07/11/2007 |
16,000,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAG ALI LANE, POST BOX NO 165, HYDERA |
A31960107 |
|
12 |
10073659 |
08/10/2007 |
36,800,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAG ALI LANE, P.B.NO165, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
A25439043 |
|
13 |
10073664 |
08/10/2007 |
36,800,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAG ALI LANE, P.B.NO.165, HYDERABAD, |
A25439563 |
|
14 |
10042674 |
26/03/2007 |
12,500,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
D.NO.6-1-99/T BOYAWADA, RAMAGIRI AREA, NALGONDA, ANDHRA PRADESH - 508001, INDIA |
A12660668 |
|
15 |
10034316 |
19/12/2006 |
133,500,000.00 |
THE ANDHRA PRADESH STATE FINANCIAL CORPORATION |
2-20-13, RELLA STREET, BEHIND FOREST OFFICE, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA |
A09737461 |
|
16 |
10013595 |
28/07/2006 |
133,500,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
5-9-194, CHIRAG ALI LANE, POST BOX NO.165, HYDERA |
A03314580 |
|
17 |
10013602 |
04/12/2012 * |
257,500,000.00 |
ANDHRA BANK |
MAIN BRANCH, G T ROAD, SRIKAKULAM, ANDHRA PRADESH - 532001, INDIA |
B67020644 |
|
18 |
90290975 |
01/12/2005 |
14,039,000.00 |
ANDHRA BANK |
CHENNAI, CHENNAI, TAMIL NADU, INDIA |
- |
|
19 |
90302931 |
24/11/2004 |
1,014,000.00 |
M/S ICICI BANK LTD. |
NO-1 CENETOPH ROAD, TEYNAMPET, CHENNAI, TAMIL NADU - 600018, INDIA |
- |
|
20 |
90121790 |
20/03/2004 |
8,800,000.00 |
A.P. STATE FINANCE CORPN. |
5-9-19- CHIRAG ALI LANE ABIDS, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
v
Land
v
Buildings
v
Roads, Bridges and Culverts
v
Plant and Machinery
v
Power Project
v
Electrical Installation
v
Workshop Equipments
v
Weigh Scales
v
Vehicles
v
Furniture and Fixtures
v
Office Equipments
v Lab Equipments
v
Temporary Sheds
v
Bore Wells
v
Miscellaneous Assets
v Goodwill
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. 62.24 |
|
|
1 |
Rs. 102.17 |
|
Euro |
1 |
Rs. 84.81 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
NO |
|
--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.