MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
RATNASAGAR HERBALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
119, Park Street, 2nd Floor
, Unit – 2 C, Kolkata – 700016, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.06.2005 |
|
|
|
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Com. Reg. No.: |
21-103808 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.753 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24246WB2005PTC103808 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR0379P |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Herbal Cosmetics. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 760000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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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 satisfactory track record. Networth of the company is decent. General
financial position of the company is good. 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Bank Facilities = BBB- (Withdrawn) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
02.01.2014 |
The rating is withdrawn due to extinguishment of the said facility and
there is no amount outstanding under the facility as on date.
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. Vikash Jain |
|
Designation : |
Assistant Finance Manager |
|
Contact No.: |
91-33-40167300 |
|
Date : |
24.07.2014 |
LOCATIONS
|
Registered Office : |
119, Park Street, 2nd Floor
, Unit – 2 C, Kolkata – 700016, West Bengal, India |
|
Tel. No.: |
91-33-40167300 |
|
Fax No.: |
91-33-40167301 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Factory : |
Plot #3C, Apparel Park Cum Industrial Area, Village Katha Bhatoli, District Solan, Baddi - 173205, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-275110 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sunil Agarwal |
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Designation : |
Director |
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Date of Appointment : |
17.06.2005 |
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DIN No.: |
00528965 |
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Other Directorship:
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Name : |
Mr. Sanjay Agarwal |
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Designation : |
Director |
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Date of Appointment : |
17.06.2005 |
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DIN No.: |
00528434 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Vikash Jain |
|
Designation : |
Assistant Finance Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
91.85 |
|
Directors or relatives of Directors |
0.10 |
|
Other top fifty shareholders |
8.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Herbal Cosmetics. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Nepal ·
Sri Lanka ·
Middle East |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
|
Customers : |
Retailers |
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No. of Employees : |
800 (Approximately) |
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Bankers : |
· Corporation Bank, 61, Rashbehari Avenue, Kolkata - 700026, West Bengal, India ·
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai -
400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S K Agrawal and Company Chartered Accountants |
|
Address : |
4 A Council House
Street, Kolkata-700001, West Bengal, India |
|
PAN No.: |
AATFS9977P |
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|
|
|
Sister Concern : |
Joy Beauty Care
Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
145000 |
Equity Shares |
Rs.10/- each |
Rs.1.450 Millions |
|
55000 |
Preference Shares |
Rs.10/- each |
Rs.0.550 Millions |
|
|
Total |
|
Rs.2.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
126400 |
Equity Shares |
Rs.10/- each |
Rs.1.264 Millions |
|
48900 |
Preference Shares |
Rs.10/- each |
Rs.0.489 Millions |
|
175300 |
Total |
|
Rs.1.753
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 |
1.753 |
1.264 |
1.264 |
|
(b) Reserves & Surplus |
188.738 |
125.260 |
80.404 |
|
(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) |
190.491 |
126.524 |
81.668 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.541 |
0.325 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.643 |
1.274 |
|
(c) Other long term liabilities |
15.373 |
14.519 |
10.884 |
|
(d) long-term provisions |
2.508 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
18.422 |
16.487 |
12.158 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
155.606 |
112.231 |
87.178 |
|
(b) Trade payables |
62.386 |
35.128 |
53.243 |
|
(c) Other current
liabilities |
27.793 |
23.421 |
12.072 |
|
(d) Short-term provisions |
0.436 |
1.469 |
0.149 |
|
Total Current Liabilities (4) |
246.221 |
172.249 |
152.642 |
|
|
|
|
|
|
TOTAL |
455.134 |
315.260 |
246.468 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.000 |
0.000 |
38.105 |
|
(ii) Intangible Assets |
0.769 |
1.066 |
1.108 |
|
(iii) Capital
work-in-progress |
46.032 |
40.852 |
0.374 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.454 |
3.006 |
5.572 |
|
(c) Deferred tax assets (net) |
0.344 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.122 |
1.630 |
0.585 |
|
(e) Other Non-current assets |
1.885 |
1.851 |
1.448 |
|
Total Non-Current Assets |
64.606 |
48.405 |
47.192 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
11.442 |
0.000 |
0.000 |
|
(b) Inventories |
269.621 |
173.954 |
128.666 |
|
(c) Trade receivables |
60.136 |
54.548 |
48.677 |
|
(d) Cash and cash
equivalents |
6.998 |
14.144 |
6.193 |
|
(e) Short-term loans and
advances |
42.331 |
24.209 |
15.740 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
390.528 |
266.855 |
199.276 |
|
|
|
|
|
|
TOTAL |
455.134 |
315.260 |
246.468 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
OPERATING INCOME
|
1070.661 |
781.652 |
572.116 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
76.306 |
56.082 |
50.879 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
9.114 |
6.023 |
5.325 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
67.192 |
50.059 |
45.554 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.148 |
4.061 |
9.561 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
64.044 |
45.998 |
35.993 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.194 |
23.057 |
7.064 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
35.000 |
22.500 |
20.000 |
|
|
|
Proposed / Interim Dividend |
3.506 |
1.264 |
0.000 |
|
|
|
Corporate Dividend |
0.568 |
0.205 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
69.164 |
45.086 |
23.057 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
365.34 |
271.00 |
285.00 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1250.000 |
The above information has been parted by Mr. Vikash
Jain
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.74 |
18.44 |
18.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.40 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.82 |
0.89 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.55 |
1.31 |
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 |
1.264 |
1.264 |
1.753 |
|
Reserves & Surplus |
80.404 |
125.260 |
188.738 |
|
Net
worth |
81.668 |
126.524 |
190.491 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.325 |
0.541 |
|
Short term borrowings |
87.178 |
112.231 |
155.606 |
|
Total
borrowings |
87.178 |
112.556 |
156.147 |
|
Debt/Equity
ratio |
1.067 |
0.890 |
0.820 |
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 |
|
Operating
Income |
572.116 |
781.652 |
1,070.661 |
|
|
|
36.625 |
36.974 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Operating
Income |
572.116 |
781.652 |
1,070.661 |
|
Profit |
35.993 |
45.998 |
64.044 |
|
|
6.29% |
5.88% |
5.98% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Short Term Borrowings |
|
|
|
Loans repayable on demand |
79.470 |
64.000 |
|
Total |
79.470 |
64.000 |
SECTOR
PERFORMANCE
The CNX FMCG Index is designed to reflect the behavior and
performance of FMCGs (Fast Moving Consumer Goods)
which are non-durable, mass consumption products and available off the shelf.
The consumer products or the Fast Moving Consumer goods
(FMCG) sector is valued at Rs 1.6 trillion (Source:
Nielsen). The industry is urban-centric with 66% share of the goods being
consumed by urban India. Metropolitan cities & small towns (population of
1-10 lakh) have been driving the FMCG consumption in
urban India since 2002. In fact middle India, comprising of the small towns and
consuming 20% of overall FMCG sales, has been growing the fastest across rural
and urban segments. As per Nielsen, the FMCG market size of middle India is set
to expand from Rs 287 bn
in 2010 to over Rs 4 trillion by 2026. Rural India,
where 70% of the population resides but only 34% consume FMCG goods, presents
the biggest market potential for the industry. Backed by low unit packs and
aggressive distribution reach, rural market size has expanded four times to Rs 564 bn since 2002.
PERFORMANCE OF
BUSINESS
The Company
continues to rapidly scale up its portfolio through a slew of new launches and
extensions in the Skin Care categories. FY2012-13 was a milestone year for us,
as we crossed Rs.1000.000 Millions in Sales revenue.
Personal Care
Products of the Company comprises of skincare and beauty care segments, with
Skin Fruits, Honey & Almonds, Pure Aloe and 24 Carat Gold as the power
brands.
The Company's Personal
Care Products business continued to grow at a fast clip achieved through a
combination of continuous innovation and differentiated offers and by channelizing the distribution network of the company to
reach target consumer. The company is continuously exploring the trade medium
via General Trade, Modern Trade and Institutional Channels. As a result, Skin
Care business category recorded robust volume and value growth during the year.
This year the
company saw the successful re-launch of a new range of face wash under the
brand of 'Skin Fruits' with a breakthrough perspective of 'Sirf
Face Wash Nahin YEH HAI FRUIT WASH.' having extracts
of a range of fruits (Strawberry, Lemon, Orange and Apple) suitable for
different skin types.
The business
continued to grow at a healthy rate despite the high degree of competitive
intensity especially from entrenched players. The strategy of developing
products on the basis of deep consumer insights and better quality has helped
The Company gain market standing in a short span of time.
The year witnessed
sharp escalation and volatility in the prices of key inputs. The Company used a
mix of smart sourcing strategies, value engineering and cost control measures
to mitigate the impact thereof and enhance margins.
Sustained
investment in R&D over the years has resulted in a healthy pipeline of new
and innovative products. Product innovation and quality continue to be focus
areas that are expected to provide the requisite competitive advantage and
impetus for growth in the near future. These interventions, together with
investments in advanced manufacturing processes and technology will enable the
business to further strengthen its portfolio of value-added products. The core
team of the management has decided that henceforth the company will venture
into innovative use of natural products. Thus focus on innovation packing would
continue. This new vision of the company has been defined as 'INNOVATORS BY
NATURE'
The company's Head
Office is situated at Kolkata, West Bengal and the
manufacturing set-up being situated at Baddi, Himachal Pradesh. As the company is performing at rapid
growth level and Sales Bar is now been crossed Rs.1000.000 Millions, the
company has expanded their activities by undertaking a new manufacturing unit
at Baddi. The plant will be well equipped with modern
and state of the art machineries, controlled and managed by qualified and
experienced technicians.
Keeping in view
the constant rise in disposable incomes and changing consumer preference for enhanced
personal grooming, the business is well poised to actively participate in the
emerging growth opportunities in this sector and continues to leverage its
strengths in the rapidly transforming landscape of beauty and personal care
products in India as well as in foreign nations.
OPERATIONS AND FUTURE
OUTLOOK
The Company is smoothly running the manufacturing unit
situated at Baddi, Himachal
Pradesh. The Directors are pleased to inform you that during the year one more
manufacturing unit has been undertaken at Baddi to
accomplish the growing demand of the consumers. Commercial Productions are
estimated to start in the FY2013-14.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10468697 |
27/12/2013 |
3,000,000.00 |
Deputy Director Of Industries |
Swca,, Baddi, Solan, Himachal Pradesh - 173205, India |
B92934561 |
|
2 |
10448960 |
07/09/2013 |
150,000,000.00 |
HDFC Bank Limited |
HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B84960541 |
|
3 |
10447924 |
18/09/2013 * |
150,000,000.00 |
HDFC Bank Limited |
HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B85220481 |
*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 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.60.00 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
48 |
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.