MIRA INFORM REPORT
|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
AVANTOR PERFORMANCE MATERIALS INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
RFCL LIMITED
(w.e.f 17.11.2006) RANBAXY FINE
CHEMICALS LIMITED (w.e.f. 26.02.1996) RANBAXY BIO
CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
1201 to 1206, 12th Floor, Pinnacle Business Tower, Shooting Range Road,
Surajkund, Faridabad – 121009, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.01.1991 |
|
|
|
|
Com. Reg. No.: |
55-175849 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.74.963 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24209HR1991PLC048501 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLR11106E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR7314N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Chemicals, Reagents and Fine Chemicals. |
|
|
|
|
No. of Employees
: |
Information
declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred a heavy loss during the year 2013. However, trade relation are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
ICRA |
|
Rating |
Fund Based facilities (BBB-) Outlook revised from stable to negative |
|
Rating Explanation |
Moderate degree of safety it carry moderate credit risk. |
|
Date |
October 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non - Fund Based facilities (A3) Revised from (A3+) |
|
Rating Explanation |
Moderate degree of safety it carry higher credit risk. |
|
Date |
October 2013 |
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
MANAGEMENT NON – COOPERATIVE (91-129-4267000)
LOCATIONS
|
Registered Office : |
1201 to 1206, 12th Floor, Pinnacle Business Tower, Shooting Range
Road, Surajkund, Faridabad – 121009, Haryana, India |
|
Tel. No.: |
91-129-4267000/4267100/4267200 |
|
Fax No.: |
91-129-4267299/4267199 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sushil Mehta |
|
Designation : |
Managing director |
|
Address : |
MA-1/6-2A, Garden Estate, DLF Phase-3, Gurgaon-122001, |
|
Date of Birth/Age : |
09.03.1957 |
|
Qualification : |
M S C in Microbiology |
|
Experience : |
31 Years |
|
Date of Appointment : |
06.12.2005 |
|
DIN No.: |
01010831 |
|
|
|
|
Name : |
Mr. Ashok Kumar Jain |
|
Designation : |
Whole-time director |
|
Address : |
J-157, Pocket J, Sarita Vihar, New Delhi – 110076, India |
|
Date of Birth/Age : |
02.07.1966 |
|
Qualification : |
B.Com , CA and CS |
|
Date of Appointment : |
22.06.2012 |
|
DIN No.: |
05332592 |
|
|
|
|
Name : |
Mr. Sally Georgina Wilson |
|
Designation : |
Director |
|
Address : |
218, Gree ST. Doylestown, Pennsylvania - 19465, United State of
America |
|
Date of Birth/Age : |
23.04.1966 |
|
Date of Appointment : |
16.07.2013 |
|
DIN No.: |
06633391 |
|
|
|
|
Name : |
Mr. Richard Arthur Oswald |
|
Designation : |
Director |
|
Address : |
1053, Eaton Court Pottstown, Pennsylvania - 19465, United State of
America |
|
Date of Birth/Age : |
01.05.1977 |
|
Qualification : |
MBA |
|
Date of Appointment : |
16.07.2013 |
|
DIN No.: |
06633401 |
KEY EXECUTIVES
|
Name : |
ETI Suri |
|
Designation : |
Secretary |
|
Address : |
G-74, 1st Floor, G Block, South City II, Sector – 51,
Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
05.03.1985 |
|
Date of Appointment : |
20.07.2012 |
|
PAN No.: |
BOWPS6989H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Avantor Performance Materials Mauritius II Limited, |
|
7496305 |
|
Avantor Performance Materials Sdn. |
|
1 |
|
Avantor Performance Materials Mauritius Limited, |
|
1 |
|
Avantor Performance Materials B.V., The |
|
1 |
|
Avantor Performance Materials Holdings B.V., The |
|
1 |
|
Avantor Performance Materials Cayman Limited, |
|
1 |
|
Avantor Performance Materials Holdings S.A., |
|
1 |
|
Total |
|
7496311 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
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 of
Chemicals, Reagents and Fine Chemicals. |
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Products / Services: |
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GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management |
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Bankers : |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7Th Floor, Building 10Tower B, DLF Cyber City Complex, Phase-2, Gurgaon, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD2095B |
|
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Ultimate Holding
company: |
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|
|
|
Holding company: |
|
|
|
|
|
Fellow Subsidiary
company: |
[U51109MH2009PTC191942]
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7496311 |
Equity Shares |
Rs.10/- each |
Rs. 74.963
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 |
74.963 |
71.863 |
71.863 |
|
(b) Reserves & Surplus |
504.840 |
576.050 |
546.939 |
|
(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) |
579.803 |
647.913 |
618.802 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
908.779 |
902.313 |
108.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
6.478 |
5.273 |
1.469 |
|
(d) long-term provisions |
14.160 |
19.056 |
21.022 |
|
Total
Non-current Liabilities (3) |
929.417 |
926.642 |
130.491 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6.266 |
101.406 |
532.663 |
|
(b) Trade payables |
878.799 |
516.800 |
436.469 |
|
(c) Other current liabilities |
187.591 |
198.105 |
79.680 |
|
(d) Short-term provisions |
5.693 |
7.934 |
4.412 |
|
Total
Current Liabilities (4) |
1078.349 |
824.245 |
1053.224 |
|
|
|
|
|
|
TOTAL |
2587.569 |
2398.800 |
1802.517 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
886.397 |
887.878 |
289.219 |
|
(ii) Intangible Assets |
24.686 |
29.734 |
29.317 |
|
(iii) Capital work-in-progress |
12.783 |
13.011 |
96.711 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
173.585 |
164.797 |
153.581 |
|
(e) Other Non-current assets |
9.934 |
22.883 |
0.000 |
|
Total
Non-Current Assets |
1107.385 |
1118.303 |
568.828 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
584.236 |
551.561 |
477.454 |
|
(c) Trade receivables |
725.241 |
591.142 |
621.872 |
|
(d) Cash and cash equivalents |
82.207 |
27.242 |
43.087 |
|
(e) Short-term loans and
advances |
80.558 |
105.498 |
87.515 |
|
(f) Other current assets |
7.942 |
5.054 |
3.761 |
|
Total
Current Assets |
1480.184 |
1280.497 |
1233.689 |
|
|
|
|
|
|
TOTAL |
2587.569 |
2398.800 |
1802.517 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2887.221 |
2421.261 |
2390.364 |
|
|
Other Income |
11.031 |
42.615 |
78.531 |
|
|
TOTAL
(A) |
2898.252 |
2463.876 |
2468.895 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
880.685 |
682.629 |
763.465 |
|
|
Purchases of Stock-in-Trade |
893.787 |
694.044 |
691.104 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.310) |
(64.358) |
(52.226) |
|
|
Employees benefits expense |
284.824 |
241.235 |
262.789 |
|
|
Other expenses |
847.584 |
732.265 |
751.014 |
|
|
Exceptional items |
49.943 |
0.000 |
0.000 |
|
|
TOTAL
(B) |
2921.513 |
2285.815 |
2416.146 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(23.261) |
178.061 |
52.749 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
105.826 |
86.502 |
100.678 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(129.087) |
91.559 |
(47.929) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
94.022 |
62.449 |
63.604 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(223.109) |
29.110 |
(111.533) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.000 |
21.424 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(223.109) |
29.110 |
(132.957) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
379.960 |
350.850 |
483.810 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
156.851 |
379.960 |
350.850 |
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(29.92) |
4.05 |
(18.5) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(7.70) |
1.18 |
(5.39) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.73) |
1.20 |
(4.67) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.91) |
1.22 |
(6.54) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.38) |
0.04 |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.58 |
1.55 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.55 |
1.17 |
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 |
71.863 |
71.863 |
74.963 |
|
Reserves & Surplus |
546.939 |
576.050 |
504.840 |
|
Net
worth |
618.802 |
647.913 |
579.803 |
|
|
|
|
|
|
long-term borrowings |
108.000 |
902.313 |
908.779 |
|
Short term borrowings |
532.663 |
101.406 |
6.266 |
|
Total
borrowings |
640.663 |
1003.719 |
915.045 |
|
Debt/Equity
ratio |
1.035 |
1.549 |
1.578 |
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 |
2390.364 |
2421.261 |
2887.221 |
|
|
|
1.293 |
19.245 |
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 |
2390.364 |
2421.261 |
2887.221 |
|
Profit |
(132.957) |
29.110 |
(223.109) |
|
|
(5.56%) |
1.20% |
(7.73%) |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS
During the year, the revenue of the Company has grown by 17.63% as compared to the previous year. The Company recorded a Revenue of Rs. 2898.250 Millions as against Rs. 2463.880 Millions in the previous year. However the cost of the products has increased significantly during the year mainly due to depreciation of Indian Rupees against the foreign currency. Company’s PBIDT has gone down during the year significantly due to various reason including upsurge in the price of Foreign Currency against the Indian Rupee, higher provision on account of slow moving and non-moving inventories and loss due to fire incident at one of the Company's godown. As a result, the Company recorded negative PBIDT of Rs. 23.260 Millions against Rs. 178.060 Millions in previous year.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10305446 |
29/02/2012 * |
550,000,000.00 |
ICICI BANL LIMITED |
LANDMARK RACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B34029280 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Leasehold improvements
Intangible assets
- Brands and trade marks
- 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.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
35 |
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.