MIRA INFORM REPORT
|
Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
TEVAPHARM INDIA PRIVATE LIMITED [w.e.f. 07.09.2011] |
|
|
|
|
Formerly Known
As : |
RATIOPHARM INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
402, Omega, Hiranandani Garden, Powai, Mumbai-400076, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
01.12.2000 |
|
|
|
|
Com. Reg. No.: |
11-129835 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1114.438
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33111MH2000FTC129835 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR10449F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECR7561F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing of formulation and also providing
contract testing, research services, business development, procurement and pharma
co vigilance related support services. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11190000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects healthy financial risk profile supported by adequate
liquidity position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitments. 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Pallavi |
|
Designation : |
Account Manger |
|
Contact No.: |
91-832-6685500 |
|
Date : |
05.03.2014 |
LOCATIONS
|
Registered Office : |
402, Omega, Hiranandani Garden, Powai, Mumbai-400076, Maharashtra,
India |
|
Tel. No.: |
91-22-66412100/101 |
|
Fax No.: |
91-22-25705991 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot A-1, Phase 1-A Averna, Verna, Goa, India |
DIRECTORS
AS ON 28.06.2013
|
Name : |
Eyal Arieli |
|
Designation : |
Director |
|
Address : |
PO Box 101, Kfar Harif - 79830, Israel |
|
Date of Birth/Age : |
13.08.1961 |
|
Date of Appointment : |
04.10.2011 |
|
Din No.: |
03360084 |
|
|
|
|
Name : |
Mr. Eran Katz |
|
Designation : |
Director |
|
Address : |
Apartment 45206, Rakefet 10, Hod Hasharon, Israel |
|
Date of Birth/Age : |
30.09.1964 |
|
Date of Appointment : |
27.06.2012 |
|
Din No.: |
03588218 |
|
|
|
|
Name : |
Mr. Kapildev Sapra |
|
Designation : |
Director |
|
Address : |
M-34, Saket, New Delhi-110017, India |
|
Date of Birth/Age : |
05.08.1972 |
|
Date of Appointment : |
27.06.2012 |
|
Din No.: |
00130600 |
|
|
|
|
Name : |
Puru Aggarwal |
|
Designation : |
Director |
|
Address : |
19/702, Eastend Apartment, Mayur Vihar, Phase 1 Extension,
Delhi-110096, India |
|
Date of Birth/Age : |
03.01.1967 |
|
Date of Appointment : |
28.06.2013 |
|
Din No.: |
02519685 |
|
|
|
|
Name : |
Mr. Ramachandra Ganapati Naik |
|
Designation : |
Director |
|
Address : |
Row House, 9, Eternity, Kanakia Spaces, Teen Hath Naik, Thane-400602,
Maharashtra, India |
|
Date of Birth/Age : |
12.05.1954 |
|
Date of Appointment : |
28.06.2013 |
|
Din No.: |
00297009 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Ramchand Sadani |
|
Designation : |
Secretary |
|
Address : |
71-A, Collectors Colony, Mahul Road, Chembur, Mumbai-400071,
Maharashtra, India |
|
Date of Birth/Age : |
24.07.1966 |
|
Date of Appointment : |
29.03.2005 |
|
Pan No.: |
AAKPS6202Q |
|
|
|
|
Name : |
Pallavi |
|
Designation : |
Account Manger |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.06.2013
|
Names of Shareholders |
No. of Shares |
% age |
|
Ratiopharm GmbH, Germany |
50000000 |
44.87 |
|
Teva Pharmaceutical Investment Singapore Pte Limited, Singapore |
61443750 |
55.13 |
|
TOTAL
|
111443750 |
100.00 |
AS ON 28.06.2013
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of formulation and also providing contract
testing, research services, business development, procurement and pharma co
vigilance related support services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
1st Floor, Lodha Excelus, Apollo Mills Compound, N.M Joshi
Marg, Mahalaxmi, Mumbai-400011, Maharashtra, India |
|
PAN No: |
AAIFB0630K |
|
|
|
|
Holding Company : |
Teva Pharmaceutical
Investments Singapore PTE Limited |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
|
150000000 |
Preferences Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
|
|
TOTAL
|
|
Rs.3500.000 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
111443750 |
Equity Shares |
Rs.10/- each
|
Rs.1114.438
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1114.438 |
500.000 |
|
(b) Reserves & Surplus |
|
1683.809 |
369.498 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
2798.247 |
869.498 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.000 |
494.099 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
12.602 |
5.846 |
|
Total Non-current
Liabilities (3) |
|
12.602 |
499.945 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
273.608 |
402.110 |
|
(c) Other current
liabilities |
|
521.700 |
246.455 |
|
(d) Short-term
provisions |
|
123.775 |
0.534 |
|
Total Current
Liabilities (4) |
|
919.083 |
649.099 |
|
|
|
|
|
|
TOTAL |
|
3729.932 |
2018.542 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1380.382 |
765.448 |
|
(ii)
Intangible Assets |
|
1.295 |
0.000 |
|
(iii)
Capital work-in-progress |
|
85.738 |
38.228 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
99.900 |
64.191 |
|
(d) Long-term Loan and Advances |
|
50.597 |
43.050 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1617.912 |
910.917 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
328.735 |
715.112 |
|
(c) Trade
receivables |
|
362.588 |
258.311 |
|
(d) Cash
and cash equivalents |
|
1342.528 |
55.594 |
|
(e)
Short-term loans and advances |
|
75.604 |
77.019 |
|
(f) Other
current assets |
|
2.565 |
1.589 |
|
Total
Current Assets |
|
2112.020 |
1107.625 |
|
|
|
|
|
|
TOTAL |
|
3729.932 |
2018.542 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
500.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
255.959 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
755.959 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
428.137 |
|
|
TOTAL BORROWING |
|
|
428.137 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1184.096 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
807.994 |
|
|
Capital work-in-progress |
|
|
39.045 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
38.399 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
209.778 |
|
|
Sundry Debtors |
|
|
191.342 |
|
|
Cash & Bank Balances |
|
|
36.348 |
|
|
Other Current Assets |
|
|
2.793 |
|
|
Loans & Advances |
|
|
73.989 |
|
Total
Current Assets |
|
|
514.250 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
94.037 |
|
|
Other Current Liabilities |
|
|
108.555 |
|
|
Provisions |
|
|
13.000 |
|
Total
Current Liabilities |
|
|
215.592 |
|
|
Net Current Assets |
|
|
298.658 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1184.096 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
3399.376 |
1472.452 |
817.542 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2552.312 |
1161.346 |
479.577 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
847.064 |
311.106 |
337.965 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.696 |
11.140 |
6.328 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
838.368 |
299.966 |
331.637 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
169.979 |
149.039 |
128.889 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
668.389 |
150.927 |
202.748 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
214.291 |
37.388 |
87.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
454.098 |
113.539 |
115.502 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
369.499 |
255.959 |
140.457 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
823.597 |
369.498 |
255.959 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3340.097 |
1446.255 |
794.646 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
406.268 |
47.234 |
|
|
|
Packing materials |
NA |
5.570 |
1.293 |
|
|
|
Capital Goods |
NA |
56.591 |
62.985 |
|
|
|
Stores and spares |
NA |
24.567 |
4.947 |
|
|
TOTAL IMPORTS |
NA |
492.996 |
116.459 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.07 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
13.36 |
7.71 |
14.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.86 |
7.88 |
15.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.17 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.57 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30 |
1.71 |
2.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.12.2011 |
31.12.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
500.000 |
1114.438 |
|
Reserves & Surplus |
|
369.498 |
1683.809 |
|
Net
worth |
|
869.498 |
2,798.247 |
|
|
|
|
|
|
long-term borrowings |
|
494.099 |
0.000 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total
borrowings |
|
494.099 |
0.000 |
|
Debt/Equity
ratio |
|
0.568 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
817.542 |
1472.452 |
3399.376 |
|
|
|
80.107 |
130.865 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
817.542 |
1472.452 |
3399.376 |
|
Profit |
115.502 |
113.539 |
454.098 |
|
|
14.13% |
7.71% |
13.36% |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
OPERATIONS:
The Company has
achieved a total income of Rs. 3399.376 Millions in the current year compared
to Rs. 1472.452 Millions in the previous year from export of pharma products
and R and D Pharma and Technical Services, thus registering 130 % increase in
sales growth over the previous year. For the year, the profit after tax was Rs.
454.098 Millions as against Rs. 113.539 Millions in the previous year. There
were two fire incidents at its factory site at Verna, Goa as a result of which
certain fixed assets were burnt/ damaged and the claims are in process by the
insurance company. The Company has acquired industrial land on lease from the
Gujarat Industrial Development Corporation (GIDC) at Sanand, Ahmedabad for its
OTC project. During the year, an amount Rs. 646.725 Millions has been incurred
on the said OTC project
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
494.099 |
|
|
|
|
|
TOTAL
|
0.000 |
494.099 |
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.61.90 |
|
|
1 |
Rs.103.25 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
52 |
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.