MIRA
INFORM REPORT
|
Report Date : |
23.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL PACKAGING PRODUCTS PRIVATE LIMITED (w.e.f. 31.03.2005) |
|
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Formerly Known
As : |
INTERNATIONAL PACKAGING PRIVATE LIMITED |
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Registered
Office : |
Unit No. 602, 6th Floor, Antrishk Thakoor House, CTS No. 773, Makwana
Road, Marol, Andheri (East), Mumbai – 400093, Maharashtra |
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Country : |
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Financials (as on)
: |
31.03.2013 |
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Date of
Incorporation : |
13.12.2000 |
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Com. Reg. No.: |
11-130009 |
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Capital
Investment / Paid-up Capital : |
Rs. 247.429
Millions |
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CIN No.: [Company Identification
No.] |
U21014MH2000PTC130009 |
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PAN No.: [Permanent Account No.] |
AAACI7987D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Selling of Plastic Woven Fabric in roll
form and converted Industrial Fabrics. |
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No. of Employees
: |
650 (Approximately) |
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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. General financial position seems to be decent. Trade relations are
reported to be fair. Business is active. Payments are reported to be usually
correct. The company can be considered for normal business dealings at usual
trade terms and condition. |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Harish |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-67416620 |
|
Date : |
22.07.2014 |
LOCATIONS
|
Registered Office : |
Unit No. 602, 6th Floor, Antrishk Thakoor House, CTS No. 773, Makwana Road,
Marol, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-67416620/ 45 |
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Mobile No.: |
91-9824732747 (Mr. Dharmesh) |
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Fax No.: |
91-22-67416699 |
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E-Mail : |
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Website : |
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Area : |
2378 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Survey No. 380/2, Dapada Village, Khanvel Silvassa Road - 396230, Union
Territory of Dadra and Nagar Haveli, India |
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Tel. No.: |
91-260-2699385-388 |
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Fax No.: |
91-260-2699390 |
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Factory 2 : |
Sayli Village, Silvassa, Union Territory of Dadra and Nagar Haveli,
India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Baldev Singh Shokar |
|
Designation : |
Director |
|
Address : |
3076 Yellow Cedar PL Coquitlasm BC V3E2ZY7, British Columbia, Canada,
V3E2Y7 |
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Date of Birth/Age : |
03.02.1950 |
|
Date of Appointment : |
10.01.2001 |
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DIN No.: |
00265320 |
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|
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Name : |
Mr. Robert Alexander Milne |
|
Designation : |
Director |
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Address : |
2201, 323 Jervis St. Vancouver BC V6C3P8 Vancouver, V6V3P8, Canada |
|
Date of Birth/Age : |
01.10.1952 |
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Date of Appointment : |
10.01.2001 |
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DIN No.: |
00458105 |
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|
|
Name : |
Mr. Vinay Gupta |
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Designation : |
Director |
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Address : |
403-A Rainbow CHS Limited, Raheja Vihar Powai, Andheri
(East), Mumbai – 400072, Maharashtra, India |
|
Date of Birth/Age : |
06.08.1968 |
|
Date of Appointment : |
20.06.2013 |
|
DIN No.: |
01592996 |
KEY EXECUTIVES
|
Name : |
Mr. Harish |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
640713 British Columbia Limited, Canada |
|
121465 |
|
640714 British Columbia Limited, Canada |
|
121465 |
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|
|
|
|
Total |
|
242930 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
640713 British Columbia Limited, Canada |
|
12251200 |
|
640714 British Columbia Limited, Canada |
|
12248800 |
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Total |
|
24500000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
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 Selling of Plastic Woven Fabric in roll
form and converted Industrial Fabrics. |
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Products/ Services : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Canada USA |
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Imports : |
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Products : |
Raw Material and Machinery |
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Countries : |
· Italy Thailand Singapore Canada US Belgium |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
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Customers : |
Others |
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No. of Employees : |
650 (Approximately) |
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Bankers : |
· Barclays Bank Plc. 601/603, Ceejay House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · HDFC Bank Limited 1st Floor, Crossway Mall, Ghoddod Road, Surat - 395007,
Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby 29, Senapati Bapat Marg, Dadar
[West], Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
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Entities having
significant influence over the companies with equal voting rights : |
· 640713 British Columbia Limited 640714 British Columbia Limited |
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Associate concerns /
companies under control of key management personnel and relatives : |
· Daro Energy Private Limited [U40100DN2005PTC000431] IBCO SRL InterWrap Converting Solutions InterWrap Corporation InterWrap Inc. InterWrap Polymer Products Private Limited [U25209MH2006PTC163837] InterWrap Quindago Trading Milne Management Inc. Quindago Novia Polymer Company Limited Shubh-Nil Yarns Private Limited [U20296MH1997PTC107904] |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs.
250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 2.454
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
|
24,500,000 |
Preference Shares |
Rs. 10/- each |
Rs. 245.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
242,930 |
Equity Shares |
Rs. 10/- each |
Rs. 2.429
Millions |
|
24,500,000 |
Preference Shares |
Rs. 10/- each |
Rs. 245.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 247.429 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 |
247.429 |
247.429 |
247.429 |
|
(b) Reserves & Surplus |
678.440 |
625.782 |
578.729 |
|
(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) |
925.869 |
873.211 |
826.158 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
7.140 |
11.657 |
8.740 |
|
(c) Other long
term liabilities |
0.000 |
6.983 |
0.000 |
|
(d) long-term
provisions |
2.857 |
1.167 |
0.507 |
|
Total Non-current
Liabilities (3) |
9.997 |
19.807 |
9.247 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
342.273 |
311.024 |
196.219 |
|
(b)
Trade payables |
232.701 |
127.588 |
101.203 |
|
(c)
Other current liabilities |
110.469 |
65.456 |
45.161 |
|
(d) Short-term
provisions |
15.634 |
10.712 |
21.478 |
|
Total Current
Liabilities (4) |
701.077 |
514.780 |
364.061 |
|
|
|
|
|
|
TOTAL |
1636.943 |
1407.798 |
1199.466 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
636.261 |
651.214 |
613.220 |
|
(ii)
Intangible Assets |
0.265 |
0.340 |
0.542 |
|
(iii)
Capital work-in-progress |
12.866 |
17.992 |
3.652 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.500 |
2.500 |
2.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
49.878 |
36.930 |
45.247 |
|
(e) Other
Non-current assets |
20.947 |
6.220 |
8.371 |
|
Total Non-Current
Assets |
722.717 |
715.196 |
673.532 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
439.278 |
330.447 |
295.150 |
|
(c)
Trade receivables |
324.331 |
220.313 |
162.311 |
|
(d) Cash
and cash equivalents |
19.396 |
45.808 |
10.454 |
|
(e)
Short-term loans and advances |
120.352 |
95.908 |
57.544 |
|
(f)
Other current assets |
10.869 |
0.126 |
0.475 |
|
Total
Current Assets |
914.226 |
692.602 |
525.934 |
|
|
|
|
|
|
TOTAL |
1636.943 |
1407.798 |
1199.466 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
2684.117 |
2471.803 |
2025.685 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
2482.311 |
|
1903.630 [Including
Financial and Depreciation Expenses] |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
201.806 |
196.307 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.132 |
20.204 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
181.674 |
176.103 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
96.129 |
94.762 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
85.545 |
81.341 |
122.055 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.192 |
28.593 |
12.647 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
58.353 |
52.748 |
109.408 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2219.715 |
2137.653 |
1778.877 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.36 |
2.13 |
4.42 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
3500.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs. 4000.000 Millions
The above information has been parted by Mr. Harish [Accounts Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.17 |
2.13 |
5.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.28 |
5.86 |
10.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.09 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.37 |
0.36 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.35 |
1.44 |
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 |
247.429 |
247.429 |
247.429 |
|
Reserves & Surplus |
578.729 |
625.782 |
678.440 |
|
Net
worth |
826.158 |
873.211 |
925.869 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
196.219 |
311.024 |
342.273 |
|
Total
borrowings |
196.219 |
311.024 |
342.273 |
|
Debt/Equity ratio |
0.238 |
0.356 |
0.370 |
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) |
|
Total Income |
2025.685 |
2471.803 |
2684.117 |
|
|
|
22.023 |
8.589 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2025.685 |
2471.803 |
2684.117 |
|
Profit |
109.408 |
52.748 |
58.353 |
|
|
5.40% |
2.13% |
2.17% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
7.002 |
13.966 |
4.959 |
|
|
|
|
|
|
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
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10368907 |
09/06/2012 |
400,000,000.00 |
HDFC BANK LIMITED |
1ST FLOOR, CROSSWAY MALL, GHODDOD ROAD, SURAT, GUJARAT - 395007, INDIA |
B45046240 |
|
2 |
10345180 |
02/03/2012 |
400,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B36138444 |
|
3 |
10349210 |
23/02/2012 |
75,344,000.00 |
BANK OF BARODA |
SILVASSA BRANCH,
OPPOSITE PIONEER HOTEL, ADIVASIB |
B37416054 |
|
4 |
10156435 |
28/10/2010 * |
250,000,000.00 |
BARCLAYS BANK PLC |
601/603, CEEJAY HOUSE, SHIVSAGAR ESTATE, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA |
A97018618 |
|
5 |
10156434 |
23/04/2009 |
120,000,000.00 |
BARCLAYS BANK PLC. |
CEEJAY HOUSE, SHIVSAGAR ESTATE, DR.A.BEASANT ROAD, WORLI., MUMBAI, MAHARASHTRA - 400018, INDIA |
A61819165 |
* Date of charge modification
CORPORATE INFORMATION
Subject is a private company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. The Company is
engaged in the business of manufacturing and sale of plastic woven fabric in
roll form and converted Industrial fabrics.
FIXED ASSETS:
· Land
Buildings
Factory
building
Other
building
Plant
and equipment
Factory
equipments
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
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. 60.24 |
|
|
1 |
Rs. 102.87 |
|
Euro |
1 |
Rs. 81.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared by
: |
BVA |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.