MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUNRISE CONTAINERS LIMITED |
|
|
|
|
Registered
Office : |
405, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.06.1986 |
|
|
|
|
Com. Reg. No.: |
11-040194 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 89.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28129MH1986PLC040194 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS35824F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS5997C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of PET Preforms, PET Jars, PET Bottles for Medical and
Other Packaging Industry. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 3400000 |
|
|
|
|
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 marked by reputed
client base, healthy profitability levels and sound liquidity position. Trade relations are reported as fair. Business is active. Payments 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
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 |
Fund based limits term loan: “A-“ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
June 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits: “A1“ |
|
Rating Explanation |
Very strong degree of safety and low credit
risk. |
|
Date |
June 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 DENIED BY
|
Name : |
Mr. Kanhaiyalal Mundhra |
|
Designation : |
Director |
|
Contact No.: |
91-22-26861701 |
|
Date : |
24.03.2014 |
LOCATIONS
|
Registered Office : |
405, |
|
Tel. No.: |
91-22-26861701 |
|
Fax No.: |
91-22-26862714 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 27.09.2013
|
Name : |
Mr. Kanhaiyalal Mundhra |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
601, Millinium Park, Upavan Layout, Upper Govind Nagar, C-Wing,
Malad (East), Mumbai – 400097,
Maharasahtra, India |
|
Date of Birth/Age : |
01.01.1944 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
23.06.1986 |
|
PAN No.: |
AADPM9403G |
|
DIN No.: |
00087385 |
|
|
|
|
Name : |
Mr. Devkishan Mannalal Mundhra |
|
Designation : |
Director |
|
Address : |
401, Millinium Park, Upavan Layout, Upper Govind Nagar, C-Wing,
Malad (East), Mumbai – 400097,
Maharashtra, India |
|
Date of Birth/Age : |
15.06.1950 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
23.06.1986 |
|
DIN No.: |
00095233 |
|
|
|
|
Name : |
Mr. Dwaraka Prasad Mundhra |
|
Designation : |
Director |
|
Address : |
401, Santosh Apartment, 25 Raghunath Avenue , Kil Park, Chennai-400 006, Tamilnadu, India |
|
Date of Birth/Age : |
20.06.1958 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
12.12.1997 |
|
PAN No.: |
AAFPM2683L |
|
DIN No.: |
00091662 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kanhaiyalal Mundhra |
|
771900 |
|
Devkishan Mundhra |
|
30000 |
|
D.K.Mundha Investment and Trading Private Limited, |
|
1950000 |
|
Mannalal Investment and Trading Private Limited, |
|
1968000 |
|
Santoshkumar Mundhra |
|
135000 |
|
Shreekishan Mundhra |
|
12000 |
|
Dwarka Prasad Mundhra |
|
94200 |
|
K.L Mundhra Investment and Trading Private Limited, |
|
1868400 |
|
Shreekishan Mundhra HUF |
|
6000 |
|
Chanda Devi Mundhra |
|
294600 |
|
Bhagwati Devi Mundhra |
|
6000 |
|
Umesh Kumar Mundhra |
|
117000 |
|
Devkishan Mundhra HUF |
|
6000 |
|
Hitesh Kumar Mundhra |
|
562800 |
|
Dinesh Kumar Mundhra |
|
117000 |
|
K.L. Mundhra HUF |
|
657900 |
|
Rajesh Kumar Mundhra |
|
16200 |
|
Hitesh Plastics Private Limited , |
|
297000 |
|
|
|
|
|
TOTAL |
|
8910000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
68.28 |
|
Directors or relatives of directors |
|
31.72 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PET Preforms, PET Jars, PET Bottles for Medical and
Other Packaging Industry. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Customers : |
Medical Bottles ·
Alkem Laboratories Limited
·
Lupin Laboratories Limited ·
Medley Pharmaceuticals Limited ·
Novartis Consumer Health India Pvt. Limited ·
Ranbaxy Limited ·
Sanofi Symhelabo ( ·
Wyeth Limited. ·
Wockhardt Limited ·
Zandu Pharmaceuticals Limited Jars Bottles ·
Parle Products Private Limited ·
Johnson and Johnson Limited ·
Maxwell Industries Limited ·
Beiersdorf India Private Limited. ·
Cadbury's India Limited ·
Aavin ·
Nilon's Enterprises Private Limited ·
Bajaj Foods Limited ·
Maker's Laboratories Limited ·
U. S. Pharma (I) Private Limited. ·
AVT Me-cormick Ingredients Private Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Vijay and Company Chartered Accountants |
|
Address : |
305, Sona Chamber, 507/509, Chira Bazar, Mumbai – 400002, |
|
PAN No.: |
AACPJ0536E |
|
|
|
|
Associated Company Under Significant influence of Key Management and
their relatives: |
|
CAPITAL STRUCTURE
As on: 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8910000 |
Equity Shares |
Rs.10/- each |
Rs. 89.100
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 |
89.100 |
89.100 |
89.100 |
|
(b) Reserves & Surplus |
777.627 |
728.571 |
647.651 |
|
(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) |
866.727 |
817.671 |
736.751 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
230.531 |
111.964 |
113.247 |
|
(b) Deferred tax liabilities
(Net) |
54.273 |
45.005 |
50.759 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
284.804 |
156.969 |
164.006 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
233.773 |
83.215 |
78.297 |
|
(b) Trade payables |
62.444 |
69.737 |
39.022 |
|
(c) Other current liabilities |
135.925 |
62.012 |
113.552 |
|
(d) Short-term provisions |
10.424 |
0.651 |
10.356 |
|
Total
Current Liabilities (4) |
442.566 |
215.615 |
241.227 |
|
|
|
|
|
|
TOTAL |
1,594.097 |
1,190.255 |
1,141.984 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
848.446 |
584.548 |
580.864 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
4.303 |
8.033 |
7.577 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
96.519 |
46.011 |
44.221 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
949.269 |
638.593 |
632.663 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
182.286 |
212.928 |
213.676 |
|
(c) Trade receivables |
369.918 |
260.307 |
217.374 |
|
(d) Cash and cash equivalents |
14.067 |
18.027 |
16.680 |
|
(e) Short-term loans and
advances |
77.947 |
59.849 |
60.511 |
|
(f) Other current assets |
0.610 |
0.551 |
1.080 |
|
Total
Current Assets |
644.828 |
551.662 |
509.321 |
|
|
|
|
|
|
TOTAL |
1,594.097 |
1,190.255 |
1,141.984 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2,247.343 |
1,929.481 |
1,512.397 |
|
|
Other Income |
39.880 |
7.951 |
1.675 |
|
|
TOTAL
(A) |
2,287.223 |
1,937.432 |
1,514.072 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1,460.714 |
1,219.333 |
940.282 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
7.445 |
8.837 |
(43.297) |
|
|
Employees benefits expense |
64.196 |
48.095 |
45.420 |
|
|
Other expenses |
518.492 |
425.993 |
355.635 |
|
|
TOTAL
(B) |
2,050.847 |
1,702.258 |
1,298.040 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
236.376 |
235.174 |
216.032 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
42.531 |
37.680 |
8.140 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
193.845 |
197.494 |
207.892 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
98.662 |
92.698 |
80.585 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
95.183 |
104.796 |
127.307 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
35.703 |
23.876 |
18.620 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
59.480 |
80.920 |
108.687 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.68 |
9.08 |
12.20 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.60 |
4.18 |
7.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.24 |
5.43 |
8.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.99 |
8.86 |
11.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.13 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
0.23 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
2.56 |
2.11 |
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 |
89.100 |
89.100 |
89.100 |
|
Reserves & Surplus |
647.651 |
728.571 |
777.627 |
|
Net
worth |
736.751 |
817.671 |
866.727 |
|
|
|
|
|
|
long-term borrowings |
113.247 |
111.964 |
230.531 |
|
Short term borrowings |
78.297 |
83.215 |
233.773 |
|
Total
borrowings |
191.544 |
195.179 |
464.304 |
|
Debt/Equity
ratio |
0.260 |
0.239 |
0.536 |
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 |
1,512.397 |
1,929.481 |
2,247.343 |
|
|
|
27.578 |
16.474 |
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 |
1,512.397 |
1,929.481 |
2,247.343 |
|
Profit |
108.687 |
80.920 |
59.480 |
|
|
7.19% |
4.19% |
2.65% |
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 |
Yes |
|
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 31.03.2012 |
|
Long term
borrowings |
|
|
|
Intercorporate borrowings |
52.943 |
48.243 |
|
Loans and advances from directors |
73.288 |
45.200 |
|
|
|
|
|
Total |
126.231 |
93.443 |
PERFORMANCE:
The revenue from operation and other income of the Company has increased to Rs 228.722 millions as compared to last year Rs 193.743 millions but due to increase in the cost of Raw Material and higher provision for depreciation, the profit after tax has decreased to Rs.59.480 millions as compare to previous year Rs. 80.920
millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U28129MH1986PLC040194 |
|
Name of the company |
SUNRISE CONTAINERS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
405, Acme Industrial Park, Off. I. B. Patel Road, Goregaon (East),
Mumbai – 400063, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of charge holder |
Citibank N. A., Plot No.61, Citigroup Centre, Bandra Kurla Complex,
Bandra (East), Mumbai-400051, Maharashtra, India Email: vlaxman@vsnl.com |
|
Nature of instrument creating charge |
Goods Security Agreement Cum Loan Agreement for Hypothecation of
Stocks, Book Debts and for property mortgage. |
|
Date of instrument Creating the charge |
25.07.2012 |
|
Amount secured by the charge |
Rs. 150.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Interest on principal amount of the aforesaid fund based facilities
advanced and outstanding from time to time @ 12.75% p.a. (exclusive of
applicable interest tax). Terms of Repayment On Demand. Margin 20% against Plant and Machinery, Stocks, Book Debts, Property. Extent and Operation of the charge The hypothecated Assets by way of first charge shall remain as security
to the Bank for the due repayment by Borrower to the Bank of the credit
facilities together with interest, costs, charges and expenses and other
monies payable by the Borrowers AND also for due payment and discharge of all
indebtedness/liability of the Borrowers to the Bank. The Company further agree to create first charge on Immovable
Properties of the Company situated at Umbergaon, Gujarat. Other The Company expressly
recognises and accepts that the Bank shall be absolutely entitled and have full
power/authority to sell, assign or transfer in any manner and on such terms
as the Bank may decide any or all outstanding dues of the Company to any
third party of the Bank's choice without any further reference or intimation
to the Company. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
First Paripassu charge on the whole of the Companys present and future
stocks of raw materials, goods in
process of manufacture, semi-finished goods and all finished First Paripassu charge on all of the Company's present and future book
debts, outstanding Monies, receivables, claims, bills, investments, rights to
or on moveable First paripassu charge on all the Company present and future movable
plant, machinery, vehicles and equipments belonging to the Company which now
are, Second Paripassu charge on all the Company present and future movable
plant, machinery, vehicles and equipments belonging to the Company Land and building and construction thereof situated at : Survey No.
45/10, Khata No. 640, Dehari Village, Umbergaon, District Valsad, Gujarat. |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Vehicles
- Office Equipment
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. 99.85 |
|
Euro |
1 |
Rs. 82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.