MIRA
INFORM REPORT
|
Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT AGROCHEM
LIMITED |
|
|
|
|
Formerly Known
As : |
GUJARAT
VET-PHARMA PRODUCTS LIMITED |
|
|
|
|
Registered Office
: |
Plot No. 2901 to
2905, G.I.D.C., Panoli, Ankleshwar, District Bharuch – 393002, |
|
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|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.03.1995 |
|
|
|
|
Com. Reg. No.: |
04-049211 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 54.960 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100GJ1995PLC049211 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG09465B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG1228L |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in the Business of Manufacturing Agro Chemicals. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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 |
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|
Comments : |
Subject is an established company having a satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. 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.
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 DECLINED BY
|
Name : |
Mr. Bhavesh Bhat |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2646-272605 |
|
Date : |
11.07.2014 |
LOCATIONS
|
Registered
Office/Factory : |
Plot No. 2901 to
2905, G.I.D.C., Panoli, Ankleshwar, District Bharuch – 393002, |
|
Tel. No.: |
91-2646-272638 |
|
Fax No.: |
91-2646-272605 |
|
Email : |
|
|
Website : |
|
|
Area : |
35000 sq. mts. |
|
Location : |
Leased |
|
|
|
|
Corporate Office : |
B-101, Gayatri Apartments, Thakur Complex, Off |
|
Tel No. : |
91-22-66997211/2/3/4 |
|
Fax No. : |
91-22-66997215 |
|
Area : |
1800 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ashok Gajanan paigankar |
|
Designation : |
Director |
|
Address : |
RH/4, C-7, Sector 6, Vashi, New Mumbai – 400703, |
|
Date of Birth/Age : |
07.08.1939 |
|
Qualification : |
M.Com, MBA |
|
Date of Appointment : |
22.01.2010 |
|
DIN No. : |
00122320 |
|
|
|
|
Name : |
Mr. Nimmagadda Nrk Shashtry Premnadh |
|
Designation : |
Director |
|
Address : |
Ficom Organics Limited, 3204, GIDC, Ankleshwar – 393002, |
|
Date of Birth/Age : |
20.07.1952 |
|
Qualification : |
M.I.E. Chemical Engineer |
|
Date of Appointment : |
30.12.2009 |
|
DIN No.: |
00324301 |
|
|
|
|
Name : |
Mr. Parikshith Jhaver |
|
Designation : |
Director |
|
Address : |
21, |
|
Date of Birth/Age : |
01.10.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
18.09.2009 |
|
DIN No. : |
00341448 |
|
|
|
|
Name : |
Mr. Adesh Girdharlalji Daga |
|
Designation : |
Director |
|
Address : |
Old No.24/25, New No.108/09, |
|
Date of Birth/Age : |
21.08.1969 |
|
Qualification : |
B.Com., A.C.A., ICWA (F) |
|
Date of Appointment : |
18.09.2009 |
|
DIN No.: |
00234032 |
|
|
|
|
Name : |
Mr. Kailasam Venkatachalam |
|
Designation : |
Director |
|
Address : |
Door No. 1097/7, Anna Nagar, Z Block, Chennai – 600040, |
|
Date of Birth/Age : |
03.01.1964 |
|
Qualification : |
B.Com., AICWA |
|
Date of Appointment : |
09.08.2009 |
|
DIN No.: |
003175124 |
|
|
|
|
Name : |
Abhimanyu Devkishan Jhaver |
|
Designation : |
Director |
|
Address : |
New No. 9/2, Old No. 53rd
Avenue, |
|
Date of Birth/Age : |
17.08.1972 |
|
Date of Appointment : |
28.11.2012 |
|
DIN No.: |
02330095 |
KEY EXECUTIVES
|
Name : |
Mr. Bhavesh Bhat |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Tagros Chemicals
India Limited ( |
5495900 |
|
Bimla D. Jhaver |
5 |
|
Dev Kishan Jhaver |
5 |
|
Hari Krishna Jhaver |
5 |
|
Jaikishan Jhaver |
5 |
|
Kiran R. Javer |
5 |
|
Madhu V. Jhaver |
5 |
|
Manju Jhaver |
5 |
|
Radha Kishan Jhaver |
5 |
|
Kanta H. Jhaver |
5 |
|
Vijay Kishan Jhaver |
5 |
|
Total |
5495950 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the Business of Manufacturing Agro Chemicals. |
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Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Technical |
MT |
2630 |
2630 |
1229.185 |
|
Intermediate |
MT |
1200 |
1200 |
1175.274 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S N Shetty and Company Chartered Accountants |
|
Address : |
Arjun, Plot No.
6A, Kalyangram Society, V. P. Road, Andheri (West), Mumbai – 400058,
Maharashtra, India |
|
Tel. No.: |
91-22-26231716/26237669 |
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Mobile No.: |
91-22-26245364 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADPS1176Q |
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Holding Company: |
· Tagros Chemicals India Limited, India [U24294TN1992PLC024115] |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11000000 |
Equity Shares |
Rs. 10/- each |
Rs.110.000 Millions |
|
100000 |
Preference Shares |
Rs. 100/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5495950 |
Equity Shares |
Rs.10/- Each |
Rs.54.960
Millions |
|
|
Total
|
|
Rs.54.960 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 |
54.960 |
54.960 |
54.960 |
|
(b) Reserves & Surplus |
269.777 |
172.182 |
97.249 |
|
(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) |
324.737 |
227.142 |
152.209 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
532.449 |
288.381 |
316.020 |
|
(b) Deferred tax liabilities
(Net) |
84.926 |
81.132 |
67.606 |
|
(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) |
617.375 |
369.513 |
383.626 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
273.576 |
271.827 |
231.411 |
|
(b) Trade payables |
262.028 |
149.483 |
144.337 |
|
(c) Other current liabilities |
194.373 |
190.691 |
57.190 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
729.977 |
612.001 |
432.938 |
|
|
|
|
|
|
TOTAL |
1672.089 |
1208.656 |
968.773 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
962.447 |
535.512 |
492.612 |
|
(ii) Intangible Assets |
0.470 |
0.470 |
0.470 |
|
(iii) Capital work-in-progress |
0.000 |
2.699 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.479 |
1.478 |
1.484 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
51.845 |
48.381 |
16.970 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1016.241 |
588.540 |
511.536 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
284.701 |
241.195 |
157.094 |
|
(c) Trade receivables |
165.050 |
218.325 |
152.380 |
|
(d) Cash and cash equivalents |
8.625 |
16.195 |
5.692 |
|
(e) Short-term loans and
advances |
49.589 |
13.197 |
29.600 |
|
(f) Other current assets |
147.883 |
131.204 |
112.471 |
|
Total
Current Assets |
655.848 |
620.116 |
457.237 |
|
|
|
|
|
|
TOTAL |
1672.089 |
1208.656 |
968.773 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2109.840 |
1574.537 |
988.955 |
|
|
Other Income |
1.611 |
1.247 |
0.538 |
|
|
TOTAL
(A) |
2111.451 |
1575.784 |
989.493 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1352.780 |
894.115 |
660.048 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(27.747) |
14.783 |
(61.032) |
|
|
Employees benefits expense |
101.916 |
77.299 |
54.969 |
|
|
Other expenses |
407.266 |
375.024 |
236.840 |
|
|
TOTAL
(B) |
1834.215 |
1361.221 |
890.825 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
277.236 |
214.563 |
98.668 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
57.049 |
43.963 |
26.782 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
220.187 |
170.600 |
71.886 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
74.269 |
68.162 |
27.497 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
145.918 |
102.438 |
44.389 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
48.324 |
27.506 |
41.252 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
97.594 |
74.932 |
3.137 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
861.683 |
622.947 |
208.659 |
|
|
TOTAL
EARNINGS |
861.683 |
622.947 |
208.659 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
79.162 |
48.368 |
28.559 |
|
|
TOTAL
IMPORTS |
79.162 |
48.368 |
28.559 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
17.76 |
13.63 |
0.57 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.62 |
4.76 |
0.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.92 |
6.51 |
4.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.73 |
8.50 |
4.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.45 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.48 |
2.47 |
3.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
1.01 |
1.06 |
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 |
54.960 |
54.960 |
54.960 |
|
Reserves & Surplus |
97.249 |
172.182 |
269.777 |
|
Net
worth |
152.209 |
227.142 |
324.737 |
|
|
|
|
|
|
long-term borrowings |
316.020 |
288.381 |
532.449 |
|
Short term borrowings |
231.411 |
271.827 |
273.576 |
|
Total
borrowings |
547.431 |
560.208 |
806.025 |
|
Debt/Equity
ratio |
3.597 |
2.466 |
2.482 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
988.955 |
1574.537 |
2109.840 |
|
|
|
59.212 |
33.997 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
988.955 |
1574.537 |
2109.840 |
|
Profit |
3.137 |
74.932 |
97.594 |
|
|
0.32% |
4.76% |
4.63% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
NA |
0.000 |
0.000
|
|
|
|
|
|
|
Total |
NA |
0.000 |
0.000
|
|
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 |
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 |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered office of the company has been shifted from B-101, Gayatri Darshan, Nears. C.N. Sports Club, Thakur, Complex, Off W.E. Highway, Kand Mumbai – 4000101, Maharashtra, India to the present address w.e.f. 08.08.2006
COMPANY'S
PERFORMANCE:
The year, the Sales and Other Income of the Company increased from Rs.1575.800 Millions to Rs.2111.400 Millions registering a growth of 34%. The Profit before Tax further grew from Rs.102.400 Millions to Rs.145.900 Millions showing an increase of 42.48 %. The major expansion of intermediate products in the previous years has helped the company to surpass the targeted growth in capacity and productivity consistently. Measures taken by Company on the environmental front have tremendously helped the Company in reaching its goal. The directors are confident that with the steps taken on Cost reduction/Environmental front, Gujarat Agrochem Limited is in the right direction of growth.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10397809 |
29/12/2012 |
310,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B66170390 |
|
2 |
10321908 |
22/11/2011 |
330,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B27292119 |
|
3 |
10230128 |
27/02/2014 * |
615,000,000.00 |
IDBI BANK LIMITED |
7,CHEVALLIER SHIVAJI GANESAN SALAI., SOUTH BOG ROAD,T.NAGAR, CHENNAI, TAMIL NADU - 600017, INDIA |
B98480403 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
Intangible assets
· Know-how
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] 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.60.19 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.