MIRA INFORM REPORT
|
Report Date : |
25.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAXHEAL PHARMACEUTICALS ( |
|
|
|
|
Registered
Office : |
301, 3rd Floor, Maxheal House, Plot No. 169, CST No. 1043, Bangur
Nagar, Goregaon (West), Mumbai – 400090, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.06.2009 |
|
|
|
|
Com. Reg. No.: |
11-193624 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100MH2009PLC193624 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM36630G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCM0717K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
and Supplier of Anti Infective Drugs. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 370000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject us an established company having moderate track record. The borrowings of the company seems to be huge. The rating takes into consideration the working capital intensive
operations which results into stretched coverage indicators. However, trade relations are reported to be 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 – 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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from
$31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports
and moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced. The
defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term: “B” |
|
Rating Explanation |
High risk of default. |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term: “A4” |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
|
Date |
March 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.
LOCATIONS
|
Registered Office : |
301, 3rd Floor, Maxheal House, Plot No. 169, CST No. 1043,
Bangur Nagar, Goregaon (West), Mumbai – 400090, Maharashtra, India |
|
Tel. No.: |
91-22-42767718 (30 lines)/ 26786103/ 104 |
|
Fax No.: |
91-22-26786105 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office: |
102/103, Tulsi Niwas, Pushtikar Co-Operative Society Limited,
Jogeshwari (West), Mumbai – 400 102, |
|
Tel. No.: |
91-22-42767718 (30 lines)/ 26786103/ 104 |
|
Fax No.: |
91-22-26786105 |
|
E-Mail : |
|
|
|
|
|
Factory : |
95/6, MIDC, Satpur, Nashik – 422 007, |
|
Tel. No.: |
91-253-2350021 |
|
Fax No.: |
91-253-2353951 |
|
Email: |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Madan Mohanlal Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
04.11.1948 |
|
Date of Appointment : |
21.12.2014 |
|
PAN No.: |
AAPPS5474H |
|
DIN No.: |
00475606 |
|
|
|
|
Name : |
Mrs. Hemlata Madan Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1951 |
|
Date of Appointment : |
21.12.2014 |
|
PAN No.: |
AAPPS5473A |
|
DIN No.: |
00475674 |
|
|
|
|
Name : |
Mr. Mehul Madan Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1985 |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AVCPS6796D |
|
DIN No.: |
00475715 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
|
|
720000 |
|
|
|
230000 |
|
|
|
10000 |
|
Mehul Madan Sakhala |
|
10000 |
|
Rachana Kalpesh Loonawat |
|
10000 |
|
Priya Atul Lalwani |
|
10000 |
|
Manish Kamlesh Kothari |
|
10000 |
|
|
|
|
|
Total |
|
1000000 |
%20LIMITED%20-%20256496%202%20(REVISED%20REPORT)%2025-Mar-2014_files/image017.gif){kind=small}
%20LIMITED%20-%20256496%202%20(REVISED%20REPORT)%2025-Mar-2014_files/image018.gif){kind=small}
%20LIMITED%20-%20256496%202%20(REVISED%20REPORT)%2025-Mar-2014_files/image020.gif)
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 Supplier of Anti Infective Drugs |
PRODUCTION STATUS AS ON 31.03.2013
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tablets |
Lacs |
14976 |
2230.08 |
|
Capsules |
Lacs |
9000 |
942.15 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Oriental Bank of Commerce, Malad (West) Branch, Vikas Chambers, Link Road, Malad West, Mumbai - 400064, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.B. Chhajed and Company Chartered Accountants |
|
Address : |
202, Inder Tower, Kaka Saheb Gadgil Marg, Dadar (West), Mumbai –
400025, Maharashtra, India |
|
PAN No.: |
ABCFS0439E |
|
|
|
|
Related Party: |
·
Maxheal Laboratories Private limited ·
Ally Pharma Options Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
83.630 |
58.898 |
38.545 |
|
(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) |
93.630 |
68.898 |
48.545 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
51.176 |
59.809 |
158.208 |
|
(b) Deferred tax liabilities
(Net) |
0.369 |
0.847 |
0.333 |
|
(c) Other long term
liabilities |
0.000 |
0.028 |
0.028 |
|
(d) long-term provisions |
0.197 |
0.197 |
0.201 |
|
Total
Non-current Liabilities (3) |
51.742 |
60.881 |
158.770 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
119.995 |
131.994 |
0.000 |
|
(b) Trade payables |
132.463 |
198.387 |
211.861 |
|
(c) Other current liabilities |
22.149 |
31.742 |
10.449 |
|
(d) Short-term provisions |
11.000 |
6.513 |
0.990 |
|
Total
Current Liabilities (4) |
285.607 |
368.636 |
223.300 |
|
|
|
|
|
|
TOTAL |
430.979 |
498.415 |
430.615 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
27.563 |
27.749 |
29.991 |
|
(ii) Intangible Assets |
10.023 |
12.481 |
10.341 |
|
(iii) Capital work-in-progress |
1.000 |
5.208 |
1.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
47.369 |
42.912 |
42.912 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.138 |
35.729 |
20.148 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
109.093 |
124.079 |
104.392 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
68.684 |
74.282 |
143.487 |
|
(c) Trade receivables |
196.874 |
243.155 |
139.542 |
|
(d) Cash and cash equivalents |
14.228 |
5.095 |
2.313 |
|
(e) Short-term loans and
advances |
42.012 |
51.710 |
40.831 |
|
(f) Other current assets |
0.088 |
0.094 |
0.050 |
|
Total
Current Assets |
321.886 |
374.336 |
326.223 |
|
|
|
|
|
|
TOTAL |
430.979 |
498.415 |
430.615 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
531.678 |
624.731 |
593.362 |
|
|
Excise Duty |
0.056 |
(0.955) |
0.000 |
|
|
Other Income |
28.817 |
29.000 |
11.069 |
|
|
TOTAL
(A) |
560.551 |
652.776 |
604.431 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
426.611 |
499.740 |
495.470 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.173 |
27.421 |
(14.180) |
|
|
Employees benefits expense |
31.570 |
35.500 |
29.915 |
|
|
Other expenses |
33.329 |
36.355 |
31.871 |
|
|
TOTAL
(B) |
494.683 |
599.016 |
543.076 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
65.868 |
53.760 |
61.355 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.700 |
21.653 |
18.125 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
44.168 |
32.107 |
43.230 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
8.456 |
5.336 |
5.717 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
35.712 |
26.771 |
37.513 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
10.981 |
6.418 |
8.591 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
24.731 |
20.353 |
28.922 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
506.927 |
0.000 |
0.000 |
|
|
TOTAL
EARNINGS |
506.927 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
66.127 |
0.000 |
0.000 |
|
|
TOTAL
IMPORTS |
66.127 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
24.73 |
20.35 |
28.92 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.41 |
3.11 |
4.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.71 |
4.29 |
6.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.33 |
5.95 |
9.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.39 |
0.77 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.82 |
2.78 |
3.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.01 |
1.46 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
38.545 |
58.898 |
83.630 |
|
Net
worth |
48.545 |
68.898 |
93.630 |
|
|
|
|
|
|
long-term borrowings |
158.208 |
59.809 |
51.176 |
|
Short term borrowings |
0.000 |
131.994 |
119.995 |
|
Total
borrowings |
158.208 |
191.803 |
171.171 |
|
Debt/Equity
ratio |
3.259 |
2.784 |
1.828 |
%20LIMITED%20-%20256496%202%20(REVISED%20REPORT)%2025-Mar-2014_files/image022.gif)
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 |
593.362 |
624.731 |
531.678 |
|
|
|
5.287 |
(14.895) |
%20LIMITED%20-%20256496%202%20(REVISED%20REPORT)%2025-Mar-2014_files/image024.gif)
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 |
593.362 |
624.731 |
531.678 |
|
Profit |
28.922 |
20.353 |
24.731 |
|
|
4.87% |
3.26% |
4.65% |
%20LIMITED%20-%20256496%202%20(REVISED%20REPORT)%2025-Mar-2014_files/image026.gif)
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2013 |
|
Long term
borrowings |
|
|
|
Anant Behere |
0.010 |
0.010 |
|
Olenmark Pharma |
0.284 |
0.284 |
|
Distributors Deposits |
0.060 |
0.060 |
|
Leesan Distributors |
0.004 |
0.003 |
|
Deposits from medical representative |
0.020 |
0.020 |
|
Hemant distributors |
0.111 |
0.000 |
|
Loans and advance from related parties
|
26.088 |
16.311 |
|
Loans and advance from others |
0.812 |
3.213 |
|
|
|
|
|
Short term
borrowings |
|
|
|
From others |
0.000 |
10.250 |
|
|
|
|
|
Total |
27.389 |
30.151 |
FINANCIAL RESULTS
The financial results for the fourth year
comprising of full period of twelve months have slighty been declined. During
the year under report, company has achieved a sales turnover of Rs. 531.678 Millions
(Previous Year Rs. 624.732 Millions). The local sales turnover during the year
under report Rs. 5.732 Millions (Previous Year Rs. 6.547 Millions) and export
turnover was of Rs. 525.946 Millions (Previous Year Rs. 618.185 Millions).
After having regard to appropriation and provisions, there are was a profit of
Rs. 25.253 Millions (Previous year loss of Rs. 20.354 Millions) which has been
to balance sheet.
Note :
Registered office of the company has been shifted
from 102/103 Tulsi Niwaspustikar Co-Operative Society Limited, Jogeshwari
(West), MUMBAI-400102, Maharashtra, India to the present address w.e.f.
01.11.2013.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10306801 |
28/12/2012 * |
200,000,000.00 |
ORIENTAL BANK OF COMMERCE |
MALAD (WEST) BRANCH, VIKAS CHAMBERS, LINK ROAD, MALAD WEST, MUMBAI, MAHARASHTRA - 400064, INDIA |
B66255365 |
|
2 |
10233440 |
13/07/2010 |
129,400,000.00 |
STATE BANK OF INDIA |
SIR P. M. ROAD BRANCH, GRESHAM HOUSE, GROUND FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A91298679 |
|
3 |
10213957 |
28/12/2012 * |
200,000,000.00 |
ORIENTAL BANK OF COMMERCE |
MALAD (WEST) BRANCH, VIKAS CHAMBERS, LINK ROAD, MALAD WEST, MUMBAI, MAHARASHTRA - 400064, INDIA |
B66255191 |
* Date of charge modification
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. 60.70 |
|
|
1 |
Rs. 100.11 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
28 |
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.