MIRA
INFORM REPORT
|
Report Date : |
08.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHEMICAL CORP
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Raut Chambers, 4th Floor, 340/42, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.04.2005 |
|
|
|
|
Com. Reg. No.: |
11-152348 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.251 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2005PTC152348 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13308B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC5620P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of Chemicals and allied products |
|
|
|
|
No. of Employees
: |
14
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There seems dip in profit of the company during the year 2013. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. The company 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
N E W S
The economy grew 4.7
%in 2013/14, marking a second straight year of sub-5 % growth – the worst
slowdown in more than a quarter of a century. The data was below an official
estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal
year. However, the current account deficit narrowed sharply to $ 32.4 billion
at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8
billion or 4.7 %, the year before.A sharp fall in
gold imports due to restrictions on overseas purchases and muted import of
capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion portal Myntra
as it prepares to battle with the rapidly expanding India arm of the global
e-commerce giant Amazon. The company raised $ 210 million from Russian
Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba
Group.
General Motors will
start exporting vehicles from its Talegaon plant near
Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken
Apple as the world’s top brand in terms of value, according to global market
research agency Millward Brown. Google’s brand value
shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were
dominated by US companies.
Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third
CEO-hopeful to quit after Chairman N R Narayana
Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being
the other two.While Vemuri
went on to lead IGate, Balakrishnan
joined politics.
Naresh Goyal – promoted
Jet Airways posted biggest quarterly loss – Rs
2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney –
Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in
connection with a complaint against the direct selling firm. This is the second
time that he has been taken into custody. A year, ago the Kerala
Police had arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its
state-owned enterprises to sever links with American consulting firms after the
United States charged five Chinese military officers wih
hacking US companies. China’s action which targets consultancies like McKinsey
& Co. and the Boston Consulting Group, sterns from fears that the first are
providing trade secrets to the US governments.
India has emerged as
a country with some of the highest unregistered businesses in the world.
Indonesia has the maximum number of shadow businesses, says a study of 68
countries by Imperial College Business School in London.
Pfizer has abandoned
its attempt to buy AstraZeneca for nearly $ 118
billion after the latter refused an offer of 55 pounds a share.
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. Ketan Chandrakant Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9820147963 |
|
Date : |
05.07.2014 |
LOCATIONS
|
Registered
Office : |
Raut Chambers, 4th Floor, 340/42, Samuel Street, Masjid Bunder, Mumbai – 400
003, Maharashtra, India |
|
Tel. No.: |
91-22-66312644 to
47 / 23423127 |
|
Mobile No.: |
91-9821115475
(Mr. Harshad Shah) 91-9820147963
(Mr. Ketan Chandrakant
Shah) |
|
Fax No.: |
91-22-23401738 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
750 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Satguru Compound No 2, Behind Wardhan
Compound, Godown No.C2, Bhiwandi,
District Thane, Maharashtra, India |
|
Area : |
6000 sq. ft. |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ketan Chandrakant
Shah |
|
Designation : |
Director |
|
Address: |
9-A, Abhilasha
Building, 46 August Kranti Marg,
Mumbai – 400 036, Maharashtra, India |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AACPS2829K |
|
DIN No.: |
01299909 |
|
|
|
|
Name : |
Mr. Harshad Jayantilal
Shah |
|
Designation : |
Director |
|
Address: |
45, Khattar Galli, Mumbai – 400 004, Maharashtra,
India |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AACPS1650E |
|
DIN No.: |
01386970 |
|
|
|
|
Name : |
Mr. Chandrakant Jayantilal
Shah |
|
Designation : |
Director |
|
Address: |
9-A, Abhilasha
Building, 46 August Kranti Marg,
Mumbai – 400 036, Maharashtra, India |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AACPS2632A |
|
DIN No.: |
01387139 |
|
|
|
|
Name : |
Mr. Nilesh Chandrakant
Shah |
|
Designation : |
Director
|
|
Address: |
9-A, Abhilasha
Building, 46 August Kranti Marg,
Mumbai – 400 036, Maharashtra, India |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AACPS2828J |
|
DIN No.: |
01540739 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Harshad J. Shah |
|
70000 |
|
Chandrakant J. Shah |
|
30000 |
|
Nilesh C. Shah |
|
30000 |
|
Ketan C. Shah |
|
30000 |
|
Shobha Harshad Shah |
|
10000 |
|
Pravina C. Shah |
|
10000 |
|
Meena N. Shah |
|
10000 |
|
Vaishali Ketan Shah |
|
10000 |
|
Ami H. Shah |
|
1000 |
|
Harshad J. Shah HUF |
|
1000 |
|
Chandrakant J. Shah HUF |
|
1000 |
|
Nilesh C. Shah HUF |
|
1000 |
|
Ketan C. Shah HUF |
|
1000 |
|
Sterling Orgo and Inorgo
Chemicals Private Limited, India |
|
20000 |
|
Chetna Sutaria |
|
100 |
|
Total |
|
225100 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Chemicals and allied products |
|
|
|
|
Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
·
Israel ·
Korea ·
Taiwan ·
Japan ·
China ·
Germany ·
USA |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
No. of Employees : |
14 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai – 400 013, Maharashtra, India ·
The Saraswat Co-operative Bank Limited Masjid Bunder Branch, Masjid
Bunder, Mumbai – 400 003, Maharashtra,
India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Total Facilities = Rs.50.000 Millions (From HDFC Bank Limited)
Notes: Long Term Borrowings
Short Term Borrowings
Short term borrowings are secured by hypothecation of
stock and book debts and are guaranteed by the directors in their personal
capacity |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sutaria Associates Chartered
Accountants |
|
Address : |
C-23, 2nd Floor, Satyam Shopping
Centre, M.G. Road, Ghatkopar (East), Mumbai – 400
077, Maharashtra, India |
|
Tel. No.: |
91-22-25143728/
25106161/ 62 |
|
Fax No.: |
91-22-25127256 |
|
E-Mail : |
sutaria@mtnl.net.in |
|
PAN No.: |
AAIPS1331G |
|
|
|
|
Associate
Company : |
·
Tri-Chem Enterprises
(Bombay) Private Limited CIN No.: U24100MH1985PTC037505 Address: Raut Chambers, 4th
Floor, 340/42, Samuel Street, Masjid Bunder, Mumbai – 400003,
Maharashtra, India Line of Business: Trader and Importer of Chemicals ·
Sterling Orgo
and Inorgo Chemicals Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
225100 |
Equity Shares |
Rs.10/- each |
Rs.2.251 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 |
2.251 |
2.251 |
2.251 |
|
(b) Reserves & Surplus |
68.504 |
57.711 |
45.632 |
|
(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) |
70.755 |
59.962 |
47.883 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
81.357 |
88.751 |
77.646 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
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) |
81.357 |
88.751 |
77.646 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
97.226 |
76.928 |
55.011 |
|
(b) Trade payables |
186.203 |
209.548 |
165.464 |
|
(c) Other current
liabilities |
1.308 |
1.803 |
1.969 |
|
(d) Short-term provisions |
7.257 |
1.871 |
1.857 |
|
Total Current Liabilities (4) |
291.994 |
290.150 |
224.301 |
|
|
|
|
|
|
TOTAL |
444.106 |
438.863 |
349.830 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.257 |
1.460 |
1.739 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.051 |
0.051 |
0.051 |
|
(c) Deferred tax assets (net) |
0.006 |
0.008 |
0.003 |
|
(d) Long-term Loan and Advances |
13.055 |
4.401 |
0.987 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
14.369 |
5.920 |
2.780 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
93.191 |
77.191 |
107.916 |
|
(c) Trade receivables |
314.663 |
337.131 |
222.705 |
|
(d) Cash and cash
equivalents |
5.668 |
11.114 |
12.238 |
|
(e) Short-term loans and
advances |
16.215 |
7.507 |
4.191 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
429.737 |
432.943 |
347.050 |
|
|
|
|
|
|
TOTAL |
444.106 |
438.863 |
349.830 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1327.500 |
|
|
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
1292.856 |
1118.569 |
|
|
|
|
|
|
|
|
|
EXPENSES |
13113.300 |
1274.969 |
1096.455 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
16.183 |
17.886 |
22.114 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.386 |
5.814 |
7.354 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
10.797 |
12.072 |
14.760 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
55.920 |
43.848 |
29.088 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
66.717 |
55.920 |
43.848 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47.96 |
53.63 |
65.57 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1470.000 |
The above information has been parted by Mr. Ketan Chandrakant Shah (Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
0.93 |
1.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.22 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.64 |
4.08 |
6.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.30 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.52 |
2.76 |
2.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47 |
1.49 |
1.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Share Capital |
2.251 |
2.251 |
2.251 |
|
Reserves & Surplus |
45.632 |
57.711 |
68.504 |
|
Net
worth |
47.883 |
59.962 |
70.755 |
|
|
|
|
|
|
long-term borrowings |
77.646 |
88.751 |
81.357 |
|
Short term borrowings |
55.011 |
76.928 |
97.226 |
|
Total
borrowings |
132.657 |
165.679 |
178.583 |
|
Debt/Equity
ratio |
2.770 |
2.763 |
2.524 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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) |
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 |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from directors |
33.765 |
45.543 |
|
Loans and advances from others |
42.592 |
38.084 |
|
Other loans and advances |
5.000 |
5.000 |
|
Total |
81.357 |
88.627 |
Notes
|
Particulars |
Rate of Interest |
31.03.2013 |
31.03.2012 |
|
Loans
with interest |
|
|
|
|
Ami H. Shah |
@
12% p.a. |
3.419 |
3.190 |
|
Chandrakant
J. Shah (Huf) |
@
12% p.a. |
6.044 |
4.620 |
|
Harshad
J. Shah (Huf) |
@
12% p.a. |
9.748 |
8.846 |
|
Ketan
C. Shah (Huf) |
@
12% p.a. |
2.103 |
1.823 |
|
Meena
N. Shah |
@
12% p.a. |
3.034 |
2.507 |
|
Nilesh
C. Shah (Huf) |
@
12% p.a. |
4.350 |
3.815 |
|
Pravina
C. Shah |
@
12% p.a. |
4.626 |
4.072 |
|
Shobha
H. Shah |
@
12% p.a. |
4.131 |
3.692 |
|
Vaishali
K. Shah |
@ 12%
p.a. |
4.558 |
4.207 |
|
Dheer
Shah |
@
12% p.a. |
1.579 |
1.311 |
|
Chandrakant
J. Shah |
@
9% p.a. |
3.936 |
0.000 |
|
Harshad
J. Shah |
@
9% p.a. |
20.249 |
0.000 |
|
Ketan
C. Shah |
@
9% p.a. |
6.895 |
0.000 |
|
Nilesh
C. Shah |
@
9% p.a. |
2.685 |
0.000 |
|
Interest
free loans term loans |
|
|
|
|
Chandrakant
J. Shah |
- |
0.000 |
8.241 |
|
Harshad
J. Shah |
- |
0.000 |
21.494 |
|
Ketan
C. Shah |
- |
0.000 |
11.254 |
|
Nilesh
C. Shah |
- |
0.000 |
4.555 |
|
Total |
|
77.357 |
83.627 |
CORPORATE
INFORMATION
The
company is engaged in the business of Trading of Chemicals and allied products.
The company was formed on 1st April, 2005 by way of conversion of partnership firm
namely M/s Chemical Corporation under the Part IX provisions of companies Act,
1956 on going concern basis. All the Assets and liabilities of the partnership
firm are acquired by the company.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10287231 |
21/03/2013 * |
68,750,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B72792013 |
|
2 |
10251623 |
02/06/2012 * |
340,000,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B41113556 |
|
3 |
10191550 |
31/10/2009 |
591,000.00 |
The Saraswat Co-Operative Bank Limited |
Laxman Zulla, 1st Floor,, 50, Ranade Road, Dadar, Mumbai, Maharashtra - 400028, India |
A73693392 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a
proceedings for violating money-laundering, anti-corruption or bribery or
international economic or anti-terrorism sanction laws or whose assets were
seized, blocked, frozen or ordered forfeited for violation of money laundering
or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No 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.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
44 |
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.