MIRA INFORM REPORT
|
Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAKWELL ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-506 Bhaveshwar Plaza, Opposite Shreyas Cinema, LBS Marg, Ghatkopar,
Mumbai – 400086, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.10.1988 |
|
|
|
|
Com. Reg. No.: |
11-049205 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1988PTC049205 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM09250D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM2758B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Chemicals. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 360000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has filed the latest financial of 2013 but the same could not
be made available from government department. As per available financial 2012, general financial position of the
company seems to be fair. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered 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.
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 DENIED BY
|
Name : |
Mr. Kalpesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-40464848 |
|
Date : |
05.03.2013 |
LOCATIONS
|
Registered Office : |
A-506 Bhaveshwar Plaza, Opposite Shreyas Cinema, LBS Marg, Ghatkopar,
Mumbai – 400086, Maharashtra, India |
|
Tel. No.: |
91-22-25004848/ 40464848 |
|
Fax No.: |
91-22-25004800 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 57-D/B, Phase-I, G.I.D.C., Vapi – 396195, Gujarat, India |
|
Tel. No.: |
91-260-2425030/ 2423496/ 2423495 |
|
|
|
|
Warehouse : |
Located at:
|
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Shashikant Nemchand Thakker |
|
Designation : |
Director |
|
Address : |
1307, Saihyadri, Neelkanth Vally, Rajawadi, Ghatkopar (East), Mumbai –
400077, Maharashtra, India |
|
Date of Birth/Age : |
29.05.1938 |
|
Date of Appointment : |
13.10.1988 |
|
DIN No.: |
00300693 |
|
|
|
|
Name : |
Mr. Hiren Shashikant Thakker |
|
Designation : |
Director |
|
Address : |
1307, Sahyadri, Neelkanth Vally, 7th Road, Rajawadi,
Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
13.10.1988 |
|
DIN No.: |
01272661 |
|
|
|
|
Name : |
Mr. Kishor Nemchand Thakker |
|
Designation : |
Director |
|
Address : |
10, Natraj, R.B.
Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1944 |
|
Date of Appointment : |
13.10.1988 |
|
DIN No.: |
00300652 |
|
|
|
|
Name : |
Mr. Amresh Kishor Thakker |
|
Designation : |
Director |
|
Address : |
10, Natraj
Building, R.B. Mehta Road, Ghatkopar (East), Mumbai – 400077, Maharashtra,
India |
|
Date of Birth/Age : |
21.02.1972 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.08.1997 |
|
DIN No.: |
01501203 |
|
|
|
|
Name : |
Mr. Zubin Kishor Thakker |
|
Designation : |
Director |
|
Address : |
10, Natraj, R.B.
Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
11.04.1974 |
|
Date of Appointment : |
30.08.1997 |
|
DIN No.: |
00300594 |
|
|
|
|
Name : |
Mr. Vishal Shashikant Thakker |
|
Designation : |
Director |
|
Address : |
1307, Sahyadri, Neelkanth Vally, Rajawadi, Ghatkopar (East), Mumbai –
400 077, |
|
Date of Birth/Age : |
16.07.1974 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.08.1997 |
|
DIN No.: |
01408345 |
KEY EXECUTIVES
|
Name : |
Mr. Kalpesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Thakker Nemchand Shashikant |
10000 |
20.00 |
|
Thakker Nemchand Kishor |
10000 |
20.00 |
|
Thakker Shashikant Prafulla |
2500 |
5.00 |
|
Thakker Kishor Indumati |
5000 |
10.00 |
|
Thakker Shashikant Hiren |
2500 |
5.00 |
|
Thakker Kishor Amresh |
5000 |
10.00 |
|
Vora Ashok Kaushika |
2500 |
5.00 |
|
Thakker Hiren Mita |
2500 |
5.00 |
|
Thakker Shashikant Vishal |
5000 |
10.00 |
|
Thakker Kishor Zubin |
5000 |
10.00 |
|
Total |
50000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Chemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Citi Bank N. A., Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India · ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India · HDFC Bank Limited · Bank of Baroda |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Subodh Vora and Company Chartered Accountants |
|
Address : |
307, Bhaveshwar Complex, Opposite Vidhyavihar Railway Station,
Vidyavihar (West), Mumbai – 400086, Maharashtra, India |
|
Tel. No. : |
91-22-67983500/ 67983550 |
|
Fax No. : |
91-22-25148595 |
|
E-Mail : |
|
|
PAN
No.: |
AABPV7681F |
|
|
|
|
Associates/Subsidiaries : |
Name: Makwell
Plastisizers Private Limited Address: A-506, Line of
Business: Manufacturer and Exporter of
Plastisizers and Additives. |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.500 |
0.500 |
|
(b) Reserves & Surplus |
|
89.121 |
63.478 |
|
(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) |
|
89.621 |
63.978 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
95.323 |
48.820 |
|
(b) Deferred tax liabilities (Net) |
|
1.259 |
1.163 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
96.582 |
49.983 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
85.999 |
26.208 |
|
(b) Trade
payables |
|
82.499 |
46.418 |
|
(c) Other
current liabilities |
|
4.104 |
1.769 |
|
(d) Short-term
provisions |
|
12.597 |
22.546 |
|
Total Current
Liabilities (4) |
|
185.199 |
96.941 |
|
|
|
|
|
|
TOTAL |
|
371.402 |
210.902 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
14.581 |
15.521 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
1.567 |
1.443 |
|
Total Non-Current
Assets |
|
16.148 |
16.964 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
132.296 |
58.255 |
|
(c) Trade
receivables |
|
200.929 |
106.915 |
|
(d) Cash
and cash equivalents |
|
8.251 |
0.378 |
|
(e)
Short-term loans and advances |
|
0.307 |
0.224 |
|
(f) Other
current assets |
|
13.471 |
28.166 |
|
Total Current
Assets |
|
355.254 |
193.938 |
|
|
|
|
|
|
TOTAL |
|
371.402 |
210.902 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
37.420 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
37.920 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
4.862 |
|
|
2] Unsecured Loans |
|
|
36.569 |
|
|
TOTAL BORROWING |
|
|
41.431 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.425 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
79.776 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
9.342 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
27.223
|
|
|
Sundry Debtors |
|
|
51.407
|
|
|
Cash & Bank Balances |
|
|
0.547
|
|
|
Other Current Assets |
|
|
9.963
|
|
|
Other Non-Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.126 |
|
Total
Current Assets |
|
|
89.266 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
8.910 |
|
|
Other Current Liabilities |
|
|
0.508
|
|
|
Provisions |
|
|
9.414
|
|
Total
Current Liabilities |
|
|
18.832 |
|
|
Net Current Assets |
|
|
70.434
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
79.776 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|||
|
|
SALES |
|
|
|
|||
|
|
|
Income |
|
|
340.069 |
||
|
|
|
Other Income |
|
|
0.010 |
||
|
|
|
TOTAL (A) |
|
|
340.079 |
||
|
|
|
|
|
|
|||
|
Less |
EXPENSES |
|
|
|
|||
|
|
|
Raw Material Consumption |
|
|
285.919 |
||
|
|
|
Materials Manufacturing and Operating
Expenses |
|
|
7.882 |
||
|
|
|
Administrative Expenses |
|
|
12.412 |
||
|
|
|
Increase/Decrease in Stock of Finished Goods |
|
|
0.710 |
||
|
|
|
TOTAL (B) |
|
|
306.923 |
||
|
|
|
|
|
|
|||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
33.156 |
|||
|
|
|
|
|
|
|||
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
5.598 |
|||
|
|
|
|
|
|
|||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
27.558 |
|||
|
|
|
|
|
|
|||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
1.191 |
|||
|
|
|
|
|
|
|||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
26.367 |
|||
|
|
|
|
|
|
|||
|
Less |
TAX (H) |
|
|
9.355 |
|||
|
|
|
|
|
|
|||
|
|
PROFIT AFTER TAX
(G-H) (I) |
25.650 |
26.059 |
17.012 |
|||
|
|
|
|
|
|
|||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
20.444 |
|||
|
|
|
|
|
|
|||
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
37.456 |
|||
|
|
|
|
|
|
|||
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|||
|
|
|
Export Earnings |
6.283 |
293.336 |
16.457 |
||
|
|
TOTAL EARNINGS |
6.283 |
293.336 |
16.457 |
|||
|
|
|
|
|
|
|||
|
|
IMPORTS |
|
|
|
|||
|
|
|
Raw Materials |
0.398 |
18.406 |
NA |
||
|
|
TOTAL IMPORTS |
0.398 |
18.406 |
NA
|
|||
|
|
|
|
|
|
|||
|
|
Earnings Per
Share (Rs.) |
513.00 |
521.17 |
340.25 |
|||
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
5.00
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
7.75
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
26.74
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.69
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.02 |
1.17
|
1.09
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.92 |
2.00
|
4.74
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
0.500 |
0.500 |
|
Reserves & Surplus |
63.478 |
89.121 |
|
Net
worth |
63.978 |
89.621 |
|
|
|
|
|
long-term borrowings |
48.820 |
95.323 |
|
Short term borrowings |
26.208 |
85.999 |
|
Total
borrowings |
75.028 |
181.322 |
|
Debt/Equity
ratio |
1.173 |
2.023 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT IS NOT AVAILABLE
|
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
one year |
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 |
No |
|
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 |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and Advances from related parties |
|
|
|
From Directors |
34.817 |
31.308 |
|
From Family
Members |
60.076 |
17.512 |
|
From Relatives |
0.430 |
0.000 |
|
|
|
|
|
Total |
95.323 |
48.820 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10266408 |
26/09/2011
* |
50,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B24693970 |
|
2 |
90237708 |
21/10/2010
* |
60,000,000.00 |
CITIBANK
N. A. |
TRENT
HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BAN |
A97228092 |
|
3 |
90237662 |
01/06/2012
* |
90,000,000.00 |
CITIBANK
N. A. |
TRENT
HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BAN |
B40814642 |
* Date of charge modification
FIXED ASSETS:
· Land (Leasehold)
· Factory Building
· Plant and Machinery (Epoxy)
· Weight Bridge
· Pollution Management System
· Computer / Printer
· Motor Car Swift
· Pump
· Air Conditioners
· Electrical Installation
· Scooter
· Mobile Phone
· Office Furniture and Fixtures
· Weigh Scale
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 records 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 records 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.61.86 |
|
|
1 |
Rs.103.06 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.