MIRA
INFORM REPORT
|
Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHARDA CROPCHEM LIMITED |
|
|
|
|
Formerly Known
As : |
SHARDA CROPCHEM PRIVATE LIMITED SHARDA WORLDWIDE EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Domnic Holm, 29th Road, Bandra (West), Mumbai – 400050, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.03.2004 |
|
|
|
|
Com. Reg. No.: |
11-145007 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.902.205 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2004PLC145007 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS36859E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS0137P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in exports of Agro chemicals - technical grade and
formulations. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 17957000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Fundamentals of the company seems good. Networth of the company
appears to be strong. Trade relation are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
A1 (Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
February 06, 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
Management Non Co-Operative
LOCATIONS
|
Registered Office/ Corporate Office : |
Domnic Holm, 29th Road, Bandra (West), Mumbai – 400050, Maharashtra,
India |
|
Tel. No.: |
91-22-66782800 |
|
Fax No.: |
91-22-66782828/ 66782808 |
|
E-Mail : |
Exports - export@shardaintl.com Imports - purchase@shardaintl.com Registration - regn@shardaintl.com HR - hr@shardaintl.com |
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on: 26.08.2013
|
Name : |
Mr. Ramprakash Vilasrai Bubna |
|
Designation : |
Chairman and Managing Director |
|
Address : |
501, Pleasant Park, 5th Floor, |
|
Date of Birth/Age : |
20.07.1946 |
|
Qualification : |
B. Tech., Chemical Engineering |
|
Date of Appointment : |
12.03.2004 |
|
PAN No.: |
AACPB6260D |
|
DIN No.: |
00136568 |
|
|
|
|
Name : |
Mrs. Sharda Ramprakash Bubna |
|
Designation : |
Director |
|
Address : |
501, Pleasant Park, 5th Floor, |
|
Date of Birth/Age : |
04.05.1953 |
|
Date of Appointment : |
12.03.2004 |
|
PAN No.: |
AACPB5921B |
|
DIN No.: |
00136760 |
|
|
|
|
Name : |
Mr. Ashish Ramprakash Bubna |
|
Designation : |
Director |
|
Address : |
501, Pleasant Park, 5th Floor, |
|
Date of Birth/Age : |
09.10.1972 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
12.03.2004 |
|
DIN No.: |
00945147 |
|
|
|
|
Name : |
Mr. Manish Ramprakash Bubna |
|
Designation : |
Director |
|
Address : |
501, Pleasant Park, 5th Floor, |
|
Date of Birth/Age : |
30.06.1974 |
|
Qualification : |
B. Tech., Chemical Engineering |
|
Date of Appointment : |
12.03.2004 |
|
PAN No.: |
AAAPB9774C |
|
DIN No.: |
00137394 |
|
|
|
|
Name : |
Mr. Vishal Kirti Keshav Marwaha |
|
Designation : |
Nominee Director |
|
Address : |
C-5/25, Vasant Kunj, |
|
Date of Birth/Age : |
26.11.1963 |
|
Date of Appointment : |
14.03.2008 |
|
DIN No.: |
00164204 |
|
|
|
|
Name : |
Mr. Swaminathan Sundararajan Mittur |
|
Designation : |
Director |
|
Address : |
Flat 11, 248, Aswarooda, T.T.K. Salai, Alwarpet, Chennai – 600 004, |
|
Date of Birth/Age : |
15.03.1950 |
|
Date of Appointment : |
26.07.2011 |
|
DIN No.: |
00169775 |
|
|
|
|
Name : |
Mrs. Urvashi Saxena |
|
Designation : |
Director |
|
Address : |
2602, |
|
Date of Birth/Age : |
14.06.1945 |
|
Date of Appointment : |
26.07.2011 |
|
DIN No.: |
02021303 |
|
|
|
|
Name : |
Mr. Shitin Dayalji Desai |
|
Designation : |
Additional Director |
|
Address : |
Glen Ridge 16, Ridge Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1947 |
|
Date of Appointment : |
16.12.2013 |
|
DIN No.: |
00009905 |
|
|
|
|
Name : |
Shobhan Madhukant Thakore |
|
Designation : |
Additional Director |
|
Address : |
509 Cumbala Crest, 42-A Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1947 |
|
Date of Appointment : |
16.12.2013 |
|
DIN No.: |
00031788 |
|
|
|
|
Name : |
Perumal Srinivasan |
|
Designation : |
Additional Director |
|
Address : |
7A Belvedere Court, Sane Guruji Marg, Mahalaxmi, Mumbai – 400011,
Maharashtra, India |
|
Date of Birth/Age : |
01.06.1965 |
|
Date of Appointment : |
16.12.2013 |
|
DIN No.: |
00365025 |
KEY EXECUTIVES
|
Name : |
Ms. Jetkin N. Gudhka |
|
Designation : |
Secretary |
|
Address : |
E-2, Juhu Apartment, |
|
Date of Birth/Age : |
13.07.1987 |
|
Date of Appointment : |
23.02.2011 |
|
PAN No.: |
ALEPG6017E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ramprakash Vilasrai Bubna |
|
18270000 |
|
Sharda Ramprakash Bubna |
|
18270000 |
|
Ashish Ramprakash Bubna |
|
15180000 |
|
Manish Ramprakash Bubna |
|
15180000 |
|
Anisha M. Bubna jointly with Manish Ramprakash Bubna |
|
4500000 |
|
Seema Ashish Bubna jointly with Ashish Ramprakash Bubna |
|
4500000 |
|
HEP Mauritius Limited, |
|
14320495 |
|
|
|
|
|
Total |
|
90220495 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
15.87 |
|
Directors or relatives of directors |
|
84.13 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in exports of Agro chemicals - technical grade and
formulations. |
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Products : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Available |
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Bankers : |
· Union Bank of India, Overseas Branch, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400021, Maharashtra, India · Standard Chartered Bank · National Bank of Fujairah ·
Citi Bank NA |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th
Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai – 400 028, |
|
Tel. No.: |
91-22-40356300 |
|
Fax No.: |
91-22-40356400 |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
|
Subsidiary Company
: |
· Sharda Spain · Sharda International DMCC · Axis Crop Science Private Limited CIN No.: U01100MH2009PTC189472 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105000000 |
Equity Shares |
Rs.10/- each |
Rs.1050.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90220495 |
Equity Shares |
Rs.10/- each |
Rs.902.205 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
902.205 |
902.205 |
180.441 |
|
(b) Reserves & Surplus |
3587.269 |
2921.407 |
1725.384 |
|
(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) |
4489.474 |
3823.612 |
1905.825 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
69.093 |
0.000 |
0.000 |
|
(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) |
69.093 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
2.154 |
26.307 |
4.785 |
|
(b) Trade payables |
1659.797 |
1699.602 |
973.080 |
|
(c) Other current liabilities |
649.313 |
592.610 |
509.248 |
|
(d) Short-term provisions |
105.987 |
123.525 |
18.172 |
|
Total Current
Liabilities (4) |
2417.251 |
2442.044 |
1505.285 |
|
|
|
|
|
|
TOTAL |
6975.818 |
6265.656 |
3411.110 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12.799 |
12.787 |
10.541 |
|
(ii) Intangible Assets |
627.723 |
633.974 |
856.682 |
|
(iii) Capital work-in-progress |
883.910 |
630.596 |
315.777 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
56.940 |
48.423 |
13.139 |
|
(c) Deferred tax assets (net) |
0.000 |
61.823 |
11.480 |
|
(d) Long-term Loan and Advances |
137.816 |
3.405 |
0.031 |
|
(e) Other Non-current assets |
73.979 |
29.181 |
0.000 |
|
Total Non-Current
Assets |
1793.167 |
1420.189 |
1207.650 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
925.213 |
323.145 |
254.985 |
|
(b) Inventories |
808.573 |
982.802 |
477.058 |
|
(c) Trade receivables |
2916.518 |
3162.867 |
1389.709 |
|
(d) Cash and cash equivalents |
318.622 |
294.524 |
71.467 |
|
(e) Short-term loans and advances |
191.561 |
76.142 |
10.241 |
|
(f) Other current assets |
22.164 |
5.987 |
0.000 |
|
Total Current
Assets |
5182.651 |
4845.467 |
2203.460 |
|
|
|
|
|
|
TOTAL |
6975.818 |
6265.656 |
3411.110 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5556.930 |
|
|
|
|
|
Other Income |
218.941 |
63.048 |
|
|
|
|
TOTAL (A) |
5775.871 |
3623.199 |
2474.252 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1318.941 |
950.579 |
|
|
|
|
Purchases of stock-in-trade |
2336.383 |
1302.826 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(23.316) |
(111.382) |
|
|
|
|
Employee benefit expense |
56.065 |
41.994 |
|
|
|
|
Other expenses |
624.372 |
442.195 |
|
|
|
|
Prior period items |
0.000 |
14.430 |
|
|
|
|
TOTAL (B) |
4312.445 |
2640.642 |
1848.505
(Including Financial Expense) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1463.426 |
982.557 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.095 |
0.085 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1463.331 |
982.472 |
625.747 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
344.271 |
387.340 |
326.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1119.060 |
595.132 |
299.634 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
348.342 |
185.347 |
99.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
770.718 |
409.785 |
199.734 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1198.551 |
788.766 |
589.032 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1969.269 |
1198.551 |
788.766 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
5396.124 |
3411.600 |
2434.380 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
NA |
NA |
1731.736 |
|
|
TOTAL IMPORTS |
NA |
NA |
1731.736 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.54 |
4.54 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
13.34 |
11.31 |
8.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.14 |
16.72 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.54 |
10.77 |
9.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.16 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14 |
1.98 |
1.46 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|
||||||
|
Lodging No:- |
ITXAL/223/2013 |
Failing Date:- |
08/02/2013 |
Reg. No.:- |
ITXA/1319/2013 |
Reg. Date:- |
12/07/2013 |
|
|
|||||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX-9 |
Respondent:- |
M/S SHARDA WORLDWIDE EXPORTS PVT. |
||||
|
Petn.Adv:- |
TEJVEER SINGH |
||||||
|
District:- |
|
||||||
|
|
|||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR REJECTION (ORIGINAL SIDE MATTERS) |
||||
|
Last Date:- |
06/01/2014 |
|
|||||
|
Last Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||||||
|
|
|
||||||
|
Act:- |
Income Tax Act, 1961 |
Under Section :- |
260A |
||||
OPERATIONAL
PERFORMANCE AND FUTURE OUTLOOK:
The Company continued to maintain profitable growth in the financial year ended 31st March, 2013.
The Company’s total revenue increased by 59.41% over the previous year from Rs. 3623.200 Millions in FY 2011-12 to Rs. 5775.871 Millions in FY 2012-13 mainly due to increase in Agrochemical business volumes. Sales in European continent increased by 58%, in Latin America by 22% and in North America by 136%. The net profit after tax and prior period adjustment increased from Rs. 409.785 Millions in FY 2011-12 to Rs. 770.718 Millions in FY 2012-13. Increase in profits is mainly due to improved margins, better inventory management, control on fixed costs and lower borrowings. However, increase in Personnel Expenses partially offset the savings in overall costs. The Company received 174 new registrations during the current financial year and the number of customers also increased by 149 during the current financial year.
The Company has continued its thrust on investment in registration of products in developed countries as well as other countries where agriculture is the backbone of the economy. The company strongly believes that the future of agrochemical business is in obtaining early registration of products.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10324025 |
12/12/2011 |
50,000,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, UNION BANK BHAVAN, 239, VIDHAN B |
B28181501 |
|
2 |
90145411 |
12/12/2011 * |
1,000,000,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, UNION BANK BHAVAN, 239, VIDHAN B |
B28170348 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
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.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
54 |
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.