MIRA
INFORM REPORT
|
Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
CRODA INDIA COMPANY PRIVATE LIMITED (w.e.f. 01.06.2013) |
|
|
|
|
Formerly Known
As : |
CRODA CHEMICALS ( |
|
|
|
|
Registered
Office : |
Plot No. 1/1 Part, TTC Industrial Area, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.07.1995 |
|
|
|
|
Com. Reg. No.: |
11-117141 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2114.465 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1995PTC117141 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC11626G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC9212H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of speciality chemicals servicing a range of industries. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11060000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘CRODA INTERNATIONAL PLC, U.K.’ It is an
established company having satisfactory track record. Reserve of the company seems to be low. However, it receives strong financial support from its parent company. The company has archived decent profitability during the financial year 2013. Trade relations are reported as fair. Business is active. Payment terms are usually correct. In view of strong holding company, the subject can be considered 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.
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=A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
26.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
26.09.2012 |
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/ Factory : |
Plot No. 1/1 Part, TTC Industrial Area, Thane Belapur Road,
Koparkhairne, Navi Mumbai – 400710, Maharashtra, India |
|
Tel. No.: |
91-22-27787531/ 30948400/ 500/
600/ 22658248 |
|
Fax No.: |
91-22-27780007/ 8/ 22622754 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 27.09.2013
|
Name : |
Mr. Sunil Kirit Shah |
|
Designation : |
Director |
|
Address : |
21-A, Ocean Gold,
Twin Tower Lane, Prabhadevi, Mumbai– 400 001, Maharashtra, India |
|
Date of Birth/Age : |
29.06.1956 |
|
Date of Appointment : |
24.10.1997 |
|
DIN No.: |
00594713 |
|
|
|
|
Name : |
Mr. David Edward Barraclough |
|
Designation : |
Director |
|
Address : |
Sandhill House, |
|
Date of Birth/Age : |
04.08.1954 |
|
Date of Appointment : |
26.09.2007 |
|
DIN No.: |
01194947 |
|
|
|
|
Name : |
Mr. Rupark Chandi Sarswat |
|
Designation : |
Managing Director |
|
Address : |
C/ODR C V Sarswat, House No.1, 1 Farm Scientists Colony, Near Govt.
Collage Rajgarh Road, Solan – 173212, Himachal Pradesh, India |
|
Date of Birth/Age : |
19.02.1972 |
|
Date of Appointment : |
02.04.2013 |
|
PAN No.: |
AVBPS4579G |
|
DIN No.: |
01667132 |
|
|
|
|
Name : |
Mr. Ritesh Gordhandas Tanna |
|
Designation : |
Director |
|
Address : |
202 Kim Seng
Road, # 30-08, Singapore 239496 |
|
Date of Birth/Age : |
11.03.1974 |
|
Date of Appointment : |
01.05.2011 |
|
DIN No.: |
01937732 |
|
|
|
|
Name : |
Mr. Graham Lloyd Myers |
|
Designation : |
Director |
|
Address : |
7 Swan Close, Deighton, York, United Kingdom-YO196HY |
|
Date of Birth/Age : |
12.04.1963 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
03186157 |
|
|
|
|
Name : |
Mr. Murali Krishna Duvvuri |
|
Designation : |
Whole-time Director |
|
Address : |
303, Suparshav Apartments, Sarvodaya Nagar, Mulund (West), Mumbai – 400
080, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1973 |
|
Date of Appointment : |
30.03.2012 |
|
PAN No.: |
ABYPD6205H |
|
DIN No.: |
05209383 |
|
|
|
|
Name : |
Mr. Jayaraman Ramkumar |
|
Designation : |
Whole-Time Director |
|
Address : |
C-201, Pinnacle, Vasant Oscar, LBS Marg, Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1969 |
|
Date of Appointment : |
12.11.2013 |
|
DIN No.: |
06719938 |
KEY EXECUTIVES
|
Name : |
Ms. Renu Apurva Dangi |
|
Designation : |
Secretary |
|
Address : |
G6, 1:2, Sharayu Co-operative Housing Society, Sector-29, Vashi – 400
703, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1984 |
|
Date of Appointment : |
25.03.2011 |
|
PAN No.: |
APPPK6480A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2013
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Sunil Kirit Shah |
|
10 |
|
Croda International PLC, United Kingdom |
|
1446467 |
|
|
|
|
|
Total |
|
1446477 |
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Croda International PLC, United Kingdom |
|
1750 |
|
|
|
|
|
Total |
|
1750 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of speciality chemicals
servicing a range of industries. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited 52/60,Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India · Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing Mills Compound, P. B. Marg, Worli, Mumbai - 400025, Maharashtra, India · UTI Bank Limited, Vashi Branch, Vardhaman Chambers Premises Cs Limited, Sector 17, Vashi, Navi Mumbai - 400705, Maharashtra, India · Standard Chartered Bank, 90, M G Road, Fort, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg Shivaji Park, Dadar (West), Mumbai, Maharashtra, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
Croda International Plc, U.K |
|
|
|
|
Subsidiary Company
: |
PT Croda Indonesia |
|
|
|
|
Fellow Subsidiary
Company : |
· Croda Europe Limited · Croda Inc., U.S.A · Croda Singapore Pte. Limited · Croda Japan K.K. · Croda Trading (Shanghai) Company Limited · Croda Hong Kong Company Limited · Croda Chemicals International Limited, Korea · Croda (SA) Pty. Limited · Croda Colombia · Crodarom SAS, France · Sederma SAS, France · Croda Australia · Croda (Thailand) Company Limited · Croda Do Brazil Ltda · Croda Peruana S.A.C. · Croda Middle East · Croda China Trading Company Limited · Croda Netherlands BV |
CAPITAL STRUCTURE
As on: 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.10/- each |
Rs.18.000 Millions |
|
2100 |
Preference Shares |
Rs.1000000/- each |
Rs.2100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2118.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1446477 |
Equity Shares |
Rs.10/- each |
Rs.14.465 Millions |
|
1750 |
Preference Shares |
Rs.1000000/- each |
Rs.1750.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1764.465
Millions |
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.10/- each |
Rs.18.000 Millions |
|
2100 |
Preference Shares |
Rs.1000000/- each |
Rs.2100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2118.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1446477 |
Equity Shares |
Rs.10/- each |
Rs.14.465 Millions |
|
2100 |
Preference Shares |
Rs.1000000/- each |
Rs.2100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2114.465
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 |
2114.465 |
2114.465 |
714.465 |
|
(b) Reserves & Surplus |
652.480 |
81.315 |
122.490 |
|
(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) |
2766.945 |
2195.780 |
836.955 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
1400.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.161 |
1.212 |
0.546 |
|
(d) long-term provisions |
32.012 |
25.510 |
21.276 |
|
Total Non-current Liabilities (3) |
32.173 |
26.722 |
1421.822 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
266.353 |
287.707 |
241.636 |
|
(c) Other current
liabilities |
90.899 |
107.626 |
133.761 |
|
(d) Short-term provisions |
5.663 |
6.335 |
1.498 |
|
Total Current Liabilities (4) |
362.915 |
401.668 |
376.895 |
|
|
|
|
|
|
TOTAL |
3162.033 |
2624.170 |
2635.672 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1192.882 |
1061.564 |
973.296 |
|
(ii) Intangible Assets |
5.929 |
6.577 |
301.273 |
|
(iii) Capital
work-in-progress |
33.022 |
56.931 |
89.656 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
177.881 |
177.881 |
177.881 |
|
(c) Deferred tax assets (net) |
182.222 |
68.885 |
41.441 |
|
(d) Long-term Loan and Advances |
64.335 |
15.253 |
21.702 |
|
(e) Other Non-current assets |
0.051 |
0.169 |
160.727 |
|
Total Non-Current Assets |
1656.322 |
1387.260 |
1765.976 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
312.081 |
289.488 |
297.083 |
|
(c) Trade receivables |
454.447 |
393.898 |
371.190 |
|
(d) Cash and cash
equivalents |
682.448 |
510.813 |
137.802 |
|
(e) Short-term loans and
advances |
54.555 |
38.505 |
51.642 |
|
(f) Other current assets |
2.180 |
4.206 |
11.979 |
|
Total Current Assets |
1505.711 |
1236.910 |
869.696 |
|
|
|
|
|
|
TOTAL |
3162.033 |
2624.170 |
2635.672 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
2690.900 |
2361.500 |
2352.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2032.000 |
1862.600 |
1805.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
658.900 |
498.900 |
546.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.700 |
139.900 |
140.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
655.200 |
359.000 |
406.600 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
73.300 |
357.600 |
441.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
581.800 |
1.400 |
(35.200) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.700 |
42.600 |
(9.500) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
571.200 |
(41.200) |
(25.700) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
708.700 |
(667.500) |
(641.800) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(667.500) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of Goods Exported |
|
|
233.223 |
|
|
|
Commission |
|
|
15.824 |
|
|
TOTAL EARNINGS |
NA |
NA |
249.047 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
324.929 |
|
|
|
Traded Goods |
|
|
188.060 |
|
|
|
Capital Goods |
|
|
14.381 |
|
|
TOTAL IMPORTS |
NA |
NA |
527.370 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.34 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
21.23
|
(1.74)
|
(1.09) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.01
|
0.06
|
(1.64) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.00
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00
|
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.15
|
3.08
|
2.31 |
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 |
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 |
-- |
|
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 |
Yes |
Note:
The Registered Office of the company has been shifted from 6 Fort Vijay
Society, 2nd Floor, 1/3 Gola Lane, Fort, Mumbai – 400001,
Maharashtra, India to the present address w.e.f. 06.01.2012
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10113688 |
29/08/2013 * |
70,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
52/60,MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B85505675 |
|
2 |
10038762 |
27/03/2012 * |
50,000,000.00 |
Axis Bank Limited |
AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILLS COM |
B37063401 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Office Equipment
· Computer Equipments
Intangible Assets
· Goodwill
· Computer Software
· Licenses and Franchise
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 : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
46 |
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.