MIRA
INFORM REPORT
|
Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPECTRUM DYES AND CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.09.1989 |
|
|
|
|
Com. Reg. No.: |
04-176088 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 136.417 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1989PTC176088 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS00486D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS3979A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Disperse Dyes and Intermediates. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3250000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually 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 current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB-” |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
12.08.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3” |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
12.08.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Sonar |
|
Designation : |
Office Executive |
|
Contact No.: |
91-261-2895410 |
|
Date : |
12.05.2014 |
LOCATIONS
|
Registered Office : |
301, Acme Plaza, Andheri Kurla Road, Andheri (East), Mumbai – 400059,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9824102590 (Mr. Yogesh Ramavtar Gupta) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Block No. 484, 502 and 503k, |
|
Tel. No.: |
91-2622-264259 |
|
Fax No.: |
91-2622-264615 |
|
Area : |
50000 sq. mts. |
|
Location : |
Owned |
|
|
|
|
Factory : |
B-502/503, National Highway # 8, Palsana, District Surat - 394315,
Gujarat, India |
|
Tel. No.: |
91-261-2895410 |
|
Fax No.: |
91-261-2895407 |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Mahendra Kumar Chawdhary |
|
Designation : |
Director |
|
Address : |
6/B, Rudrraj Apartment, Athwalines, Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
09.06.1958 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
01.04.2004 |
|
PAN No.: |
ACCPC4066N |
|
DIN No.: |
00193199 |
|
|
|
|
Name : |
Mr. Yogesh Ramavtar Gupta |
|
Designation : |
Director |
|
Address : |
602, Solitaire Apartment, Brijwasi Complex, Parle Point, Surat-395007,
Gujarat, India |
|
Date of Birth/Age : |
10.03.1969 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
25.06.1991 |
|
PAN No.: |
ABTPG1944R |
|
DIN No.: |
00193245 |
|
|
|
|
Name : |
Mr. Anveep Bansal |
|
Designation : |
Director |
|
Address : |
7th Floor, Flat No.701 (Old), A-1 (New), Solitaire Building
Tower -4, Brijwasi Estate, Opposite Umrigar School, Parle Point,
Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
12.05.1972 |
|
Qualification : |
Chemical Engineer |
|
Date of Appointment : |
06.08.1998 |
|
PAN No.: |
ACNPB6804G |
|
DIN No.: |
00193320 |
|
|
|
|
Name : |
Mr. Hardat Singh Tarar |
|
Designation : |
Director |
|
Address : |
B-502-03, N.H. No. 8, Palsana, Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
12.03.1959 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
23.08.2002 |
|
PAN No.: |
AATPT7352F |
|
DIN No.: |
00193378 |
|
|
|
|
Name : |
Mr. Pramod Kumar Chaudhary |
|
Designation : |
Director |
|
Address : |
7-B, Rudraraj Appartment, Opposite Arihant Complex, Athwalines,
Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
06.10.1963 |
|
Date of Appointment : |
19.11.2010 |
|
PAN No.: |
AFZPC2447P |
|
DIN No.: |
00530612 |
KEY EXECUTIVES
|
Name : |
Mr. Sonar |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mahendra Kumar Chawdhary |
|
2 |
|
Manisha Chaudhary |
|
3000 |
|
Urmila Chaudhary |
|
2847 |
|
Gyanesh Chaudhary |
|
500 |
|
Pramod Kumar Chaudhary |
|
20 |
|
Yogesh Gupta |
|
1 |
|
Presh Chaudhary |
|
1500 |
|
Chaudhary Akshat |
|
1785 |
|
Nilam Chaudhary |
|
1288 |
|
Vikram Polyester Private Limited, India |
|
200 |
|
H.K. Chaudhary and Sons (HUF) |
|
360 |
|
Pratibha Overseas Private Limited, India |
|
3250 |
|
Bansal Avneep |
|
1 |
|
Pratibha Fabrics Limited, India |
|
7175 |
|
P.K. Chaudhary and Sons (HUF) |
|
250 |
|
Pioneer Syntex Private Limited, India |
|
2760 |
|
Ramavtar Gupta and Sons - HUF |
|
1 |
|
Premlata Gupta |
|
1 |
|
Ideal Trade Links Private Limited, India |
|
300 |
|
Mahendra Kumar Chaudhary and Sons (HUF) |
|
930 |
|
Swaraj Vikram Chaudhary (Minor) |
|
400 |
|
Devika Gupta |
|
1 |
|
Mangal Fibre and Allies Industries Limited, India |
|
400 |
|
Amol Fab Trade Private Limited, India |
|
8871 |
|
Fast-N-Perfect Tracon Private Limited, India |
|
2400 |
|
Vikram Capital Management Limited, India |
|
2900 |
|
Rich Point Financial Services Private Limited, India |
|
2200 |
|
Vayudoot Commercial Private Limited |
|
55159 |
|
Meenakshi Chaudhary |
|
900 |
|
Tarar Hardutt Singh |
|
1 |
|
Vijayalakshmi Commercial Private Limited, India |
|
9235 |
|
Highview Financial Consultancy, India |
|
27779 |
|
Total |
|
136417 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
89.90 |
|
Directors or relatives of Directors |
10.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Disperse Dyes and Intermediates. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Bank of Baroda, Corporate Financial Services Branch, 2nd Floor, Baroda Sun Complex, Ghod Dod Road,, Surat - 395007, Gujarat, India ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri,
Baroda - 390015, Gujarat, India State Bank of India, MID Corporate Group Industrial
Finance Branch, Marble Arch, Race Course Circle, Vadodara - 390007, Gujarat,
India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pradeep Singhi and Associates Chartered Accountants |
|
Address : |
A-501, President Plaza, RTO Cicle, Ring Road, Nanapura, Surat-395001,
Gujarat, India |
|
Tel. No.: |
91-261-2474714/ 2474954 |
|
Income-tax
PAN of auditor or auditor's firm : |
ADRPS1701L |
|
|
|
|
Associates : |
Vayudoot Commercial Private Limited CIN No.: U51109WB1996PTC077155 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.1000/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
136417 |
Equity Shares |
Rs.1000/- each |
Rs. 136.417 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 |
136.417 |
135.185 |
122.780 |
|
(b) Reserves & Surplus |
677.537 |
601.488 |
484.472 |
|
(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) |
813.954 |
736.673 |
607.252 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
204.198 |
244.816 |
278.708 |
|
(b) Deferred tax liabilities (Net) |
68.302 |
61.309 |
54.930 |
|
(c) Other long term liabilities |
9.500 |
9.500 |
9.500 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
282.000 |
315.625 |
343.138 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
774.714 |
687.656 |
611.199 |
|
(b) Trade payables |
407.248 |
287.973 |
280.019 |
|
(c) Other current
liabilities |
212.072 |
179.470 |
113.284 |
|
(d) Short-term provisions |
0.000 |
0.000 |
52.256 |
|
Total Current Liabilities (4) |
1394.034 |
1155.099 |
1056.758 |
|
|
|
|
|
|
TOTAL |
2489.988 |
2207.397 |
2007.148 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
723.781 |
720.834 |
635.279 |
|
(ii) Intangible Assets |
0.059 |
0.080 |
0.100 |
|
(iii) Capital
work-in-progress |
34.524 |
23.916 |
63.037 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
49.849 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.355 |
8.705 |
8.708 |
|
(e) Other Non-current assets |
0.000 |
0.070 |
0.140 |
|
Total Non-Current Assets |
767.719 |
753.605 |
757.113 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
133.366 |
78.928 |
8.250 |
|
(b) Inventories |
686.801 |
533.010 |
506.813 |
|
(c) Trade receivables |
782.092 |
727.417 |
544.177 |
|
(d) Cash and cash
equivalents |
15.830 |
14.410 |
59.559 |
|
(e) Short-term loans and
advances |
36.186 |
16.062 |
13.936 |
|
(f) Other current assets |
67.994 |
83.965 |
117.300 |
|
Total Current Assets |
1722.269 |
1453.792 |
1250.035 |
|
|
|
|
|
|
TOTAL |
2489.988 |
2207.397 |
2007.148 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
105.014 |
90.309 |
91.697 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
34.416 |
29.116 |
30.866 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
70.598 |
61.193 |
60.831 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
296.512 |
235.319 |
174.488 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
367.110 |
296.512 |
235.319 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
97.614 |
73.517 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import of Raw Materials |
793.661 |
|
|
|
|
|
Import of Capital goods Stores and Spare Parts |
8.878 |
8.481 |
|
|
|
TOTAL IMPORTS |
802.539 |
684.969 |
607.818 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
517.52 |
452.66 |
517.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.28 |
4.14 |
4.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.12 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.20 |
1.27 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.26 |
1.18 |
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 |
122.780 |
135.185 |
136.417 |
|
Reserves & Surplus |
484.472 |
601.488 |
677.537 |
|
Net
worth |
607.252 |
736.673 |
813.954 |
|
|
|
|
|
|
long-term borrowings |
278.708 |
244.816 |
204.198 |
|
Short term borrowings |
611.199 |
687.656 |
774.714 |
|
Total
borrowings |
889.907 |
932.472 |
978.912 |
|
Debt/Equity
ratio |
1.465 |
1.266 |
1.203 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
96.969 |
86.891 |
77.250 |
|
|
|
|
|
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10346585 |
15/03/2013 * |
674,700,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MARBLE
ARCH, RACE COURSE CIRCLE, VADODARA - |
B72197874 |
|
2 |
10338783 |
29/02/2012 |
44,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, VADODARA - 390015, GUJARAT, INDIA |
B33521527 |
|
3 |
10127824 |
10/06/2013 * |
1,114,700,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA - 390007, GUJARAT, INDIA |
B80961089 |
|
4 |
10123646 |
08/04/2013 * |
440,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, 2ND FLOOR, BARODA SUN COMPLEX, GHOD DOD ROAD, SURAT - 395007, GUJARAT, INDIA |
B73759367 |
|
5 |
10043276 |
28/12/2010 * |
536,100,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP, INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA - 390007, GUJARAT, INDIA |
B02281210 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
0.642 |
10.096 |
|
Total |
0.642 |
10.096 |
FINANCIAL RESULTS
The Profit and Loss Account of the company shows a Net Profit Before Tax amounting to Rs.105.014 Millions.
GENERAL REVIEW
The company's performance had been satisfactory in general during the year. Despite the stiff challenges, the company had achieved its targeted turnover and Net Profit as well. The Directors are hopeful to face challenges successfully and to make head way in the coming years.
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
v
Intangible Assets
Brands
and Trade Marks
Trade
Marks
Mastheads
and Publishing Titles
Mining
rights
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.59.73 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.