MIRA
INFORM REPORT
|
Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
KOCH CHEMICAL TECHNOLOGY GROUP INDIA PRIVATE LIMITED (w.e.f.
10.11.2006) |
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Formerly Known
As : |
KOCH-GLITSCH INDIA PRIVATE LIMITED (w.e.f. 11.03.2005) KOCH-GLITSCH INDIA LIMITED (w.e.f. 15.03.2000) GLITSCH PROCESS INDIA LIMITED GLITSCH TECHNOLOGIES ( |
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Registered
Office : |
Corporate Park - II, 10th Floor, CTS No. 354, 355/1-6, 356, 357 and 360, Sion Trombay Road, Chembur, Mumbai – 400071, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
29.07.1994 |
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Com. Reg. No.: |
11-079939 |
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Capital
Investment / Paid-up Capital : |
Rs.62.643 Millions |
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CIN No.: [Company Identification
No.] |
U29199MH1994PTC079939 |
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PAN No.: [Permanent Account No.] |
AABCK3688G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Service Provider of Chemical. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well-established company having fine track record. The rating takes into consideration company’s healthy financial risk
profile and adequate liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of strong holding, the company can be considered good for
normal 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
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
. Higher costs weigh down profit growth to slowest in 9 quarters
. Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-25202050)
LOCATIONS
|
Registered Office : |
Corporate Park - II, 10th Floor, CTS No. 354, 355/1-6, 356, 357 and 360, Sion Trombay Road, Chembur, Mumbai – 400071, Maharashtra, India |
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Tel. No.: |
91-22-67717171 |
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Fax No.: |
91-22-67717161 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
315-317, Sankarda-Bhadarava Road, Moxi Savli, Vadodara – 391780,
Gujarat, India |
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Tel. No.: |
91-2667-244345 |
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Fax No.: |
91-2667-244334 |
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Overseas Offices : |
Located at: ·
Benelux France Germany Italy Spain Brazil Kingdom of Bahrain Australia China Singapore |
DIRECTORS
As on 26.09.2013
|
Name : |
Mr. Jatin Prabodhchandra Parikh |
|
Designation : |
Managing Director |
|
Address : |
B-4, Somnath Duplex, Near Gotri Naka, Vadodara - 390021, Gujarat,
India |
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Date of Birth/Age : |
01.02.1965 |
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Date of Appointment : |
27.01.2005 |
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PAN No.: |
AAPPP6027P |
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DIN No.: |
00086458 |
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Name : |
Mr. Chirstoph Ender |
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Designation : |
Director |
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Address : |
7938, |
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Date of Birth/Age : |
16.08.1959 |
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Date of Appointment : |
30.05.2005 |
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DIN No.: |
00173470 |
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Name : |
Mr. John Jeremiah Morrison |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
04.03.1960 |
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Date of Appointment : |
07.09.2006 |
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DIN No.: |
00234027 |
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Name : |
Mr. Anish Ghoshal |
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Designation : |
Director |
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Address : |
402, Rocky Hill, Rizvi Complex, Shirly Ranjan Road, Bandra (West),
Mumbai - 400050, Maharashtra, India |
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Date of Birth/Age : |
16.09.1964 |
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Date of Appointment : |
07.09.2006 |
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DIN No.: |
00276807 |
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Name : |
Manuel Martinez Botana |
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Designation : |
Director |
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Address : |
40, Route De Luxembourg, L-3253, Bettembourg |
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Date of Birth/Age : |
02.06.1954 |
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Date of Appointment : |
27.09.2012 |
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DIN No.: |
05263352 |
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Name : |
Michael Anthony Mcguire |
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Designation : |
Director |
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Address : |
8702 C3, Uxbridge RR1, On L9P 1R1 Uxbridge, Canada |
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Date of Birth/Age : |
15.10.1956 |
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Date of Appointment : |
27.09.2012 |
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DIN No.: |
05268922 |
KEY EXECUTIVES
|
Name : |
Mr. Jigarkumar Ghanshyambhai Patel |
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Designation : |
Secretary |
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Address : |
D-201, Devsya Avenue, Near Divya Jyot Tenament, Behind Shyam Farm, Nikol
Naroda Road, Nikol, Ahmedabad – 382350, Gujarat, India |
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Date of Birth/Age : |
18.02.1985 |
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Date of Appointment : |
15.06.2009 |
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PAN No.: |
APHPP2767D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2013
|
Names of Shareholders |
No. of Shares |
|
Koch Chemical Technology Group Singapore Pte. Limited, Singapore |
6264269 |
|
Koch Australia Pty Limited, Australia |
4 |
|
Ashok Chhaganlal Pratap |
6 |
|
Total |
6264279 |
As on 26.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Service Provider of Chemical. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2011)
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Particulars |
Unit |
Actual
Production |
|
Mass Transfer Equipments |
Tonnes |
1752 |
Note:
Licensed Installed capacity is not applicable
to the company
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
ABN Amro Bank N.V., 7, Alkapuri, Vadodara - 390007, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K. C. Mehta and Company Chartered Accountants |
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Address : |
2nd Floor, Meghdhanush, Race Cource, Vadodara -390007, |
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Tel. No.: |
91-265-2341626 / 3086400 |
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Fax No.: |
91-265-3086444 / 455 / 466 |
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E-Mail : |
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Website : |
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PAN.: |
AABFK1558J |
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Holding Companies: |
· Koch Chem Tech Group Singapore Pte. Limited, Singapore Koch-Austrelia Pty. Limited, AUSTRALIA |
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Ultimate Holding
Companies : |
· Koch Chemical Technology Group Mauritius, Inc, Mauritius KCTC, LLC, United States
KG Holding LLC, United States Koch Chem Tech Group LLC, United States Koch Resources, LLC, United States Koch Industries, Inc. - Corporate, United States |
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Associates : |
· Hamworthy Combustion Engg. Limited Hamwor thy Combustion Engg. Limited, Italy John Zink Asia Pacific, Sinagpore John Zink Asia Pacific Japan John Zink Company KEU Gmbh John Zink Company LLC J o h n Zi n k International Luxembourg SARL Koch Chemical Technology (WUXI) Co.LTD. Koch Heat Transfer Company LP Koch Heat Transfer Canada LP Koch Heat Transfer Company s.r.l Koch Chemical Technology Group Italia SRL Koch Glitsch Asia Pacific, Singapore Koch Glitsch Asia Pacific Japan Koch Glitsch UK Ltd Koch Membrane Systems Inc. Koch-Glitsch B.V.B.A Koch-Glitsch Canada Co. LP Koch-Glitsch Italia S.r.l. Koch-Glitsch Korea Ltd. Koch Glitsch LP
Coen Company Inc. |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6264279 |
Equity Shares |
Rs.10/- each |
Rs.62.643
Millions |
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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 |
62.643 |
62.643 |
62.643 |
|
(b) Reserves & Surplus |
1428.747 |
1149.908 |
890.947 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1491.390 |
1212.551 |
953.590 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
19.478 |
11.635 |
12.379 |
|
Total Non-current Liabilities (3) |
19.478 |
11.635 |
12.379 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
128.246 |
65.097 |
116.476 |
|
(c) Other current
liabilities |
55.572 |
40.013 |
76.520 |
|
(d) Short-term provisions |
10.800 |
32.008 |
2.005 |
|
Total Current Liabilities (4) |
194.618 |
137.118 |
195.001 |
|
|
|
|
|
|
TOTAL |
1705.486 |
1361.304 |
1160.970 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
219.518 |
234.360 |
246.278 |
|
(ii) Intangible Assets |
1.977 |
1.986 |
1.267 |
|
(iii) Capital
work-in-progress |
1.235 |
1.798 |
2.367 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
7.117 |
4.085 |
3.347 |
|
(d) Long-term Loan and Advances |
16.413 |
18.610 |
20.210 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
246.260 |
260.839 |
273.469 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
425.892 |
282.079 |
328.577 |
|
(c) Trade receivables |
141.770 |
172.237 |
146.733 |
|
(d) Cash and cash
equivalents |
748.143 |
555.227 |
316.972 |
|
(e) Short-term loans and
advances |
141.332 |
90.691 |
95.080 |
|
(f) Other current assets |
2.089 |
0.231 |
0.139 |
|
Total Current Assets |
1459.226 |
1100.465 |
887.501 |
|
|
|
|
|
|
TOTAL |
1705.486 |
1361.304 |
1160.970 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1203.849 |
|
|
|
Other Income |
|
|
69.403 |
|
|
|
TOTAL |
|
|
1273.252 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
869.628 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
403.627 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
124.789 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
278.838 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
1138.805 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
1417.643 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
44.51 |
|
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
SALES AND OTHER
INCOME (GROSS) |
|
1374.470 |
1029.300 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
348.242 |
228.361 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
|
3.884 |
3.141 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
37.096 |
30.984 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
389.222 |
262.486 |
|
|
|
|
|
|
|
|
|
|
TAX |
|
130.259 |
76.441 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
258.961 |
186.045 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
879.844 |
948.055 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital redemption Reserve |
|
0.000 |
11.054 |
|
|
|
Utilized for Buy Back of Shares |
|
0.000 |
243.201 |
|
|
BALANCE CARRIED
TO THE B/S |
|
1138.805 |
879.844 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
249.910 |
|
|
|
Engineering Services |
|
|
130.783 |
|
|
|
Sales Domestic remittance in FC |
|
|
0.406 |
|
|
|
Other Earnings |
|
|
1.984 |
|
|
TOTAL EARNINGS |
|
NA |
383.083 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Export Earnings |
|
|
249.910 |
|
|
|
Engineering Services |
|
|
130.783 |
|
|
|
Sales Domestic remittance in FC |
|
|
0.406 |
|
|
|
Other Earnings |
|
|
1.984 |
|
|
TOTAL IMPORTS |
|
NA |
383.083 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
41.34 |
25.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
21.90 |
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
33.53 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.78 |
28.72 |
22.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.32 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.50 |
8.03 |
4.55 |
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 |
62.643 |
62.643 |
62.643 |
|
Reserves & Surplus |
890.947 |
1149.908 |
1428.747 |
|
Net
worth |
953.590 |
1212.551 |
1491.390 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90215711 |
22/01/2007 * |
260,000,000.00 |
ABN AMRO BANK N.V. |
7, ALKAPURI, BARODA - 390007, GUJARAT, INDIA |
- |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 41 & 42, Kalpataru Court, 4th Floor, Choithram Gidwani Marg, Chembur, Mumbai – 400074, Maharashtra, India to the present address w.e.f. 01.06.2007.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
VehicleS
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Intangible Assets
· Goodwill
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.60.10 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.