MIRA
INFORM REPORT
|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEDICO REMEDIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
50, Juhu Supreme Shopping Center, Gulmohar Cross Road No. 9, Juhu,
Mumbai 400049, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
18.03.1994 |
|
|
|
|
Com. Reg. No.: |
11-077187 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.810 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1994PTC077187 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22132F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM8349L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Products |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track. As per ROC the date of filling of financial statements is shown as
31.03.2013, but documents related to the financials from the year 2011 are
not available from government department. Mr. Rajesh Chawla, Accounts head provided information. As per indirect sources, we found that the company has recorded a
healthy growth in revenues over the last two years on account of expansion of
its exports. Further, the ratings also take into consideration the increase in
scale which has further resulted in a higher working capital requirement for
the company which has been further mitigated by financial support extended by
the promoters. Trade relations are seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of lack of in detailed financial information, the subject can
be considered for business dealings with cautions. |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long-term, fund-based facilities = B+ |
|
Rating Explanation |
High risk of default regarding timely servicing of financial
obligations |
|
Date |
July 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short-term, non fund based facilities = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
July 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 PARTED BY
|
Name : |
Mr. Rajesh Chawla |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-26701055 |
|
Date : |
09.05.2014 |
LOCATIONS
|
Registered Office : |
50, Juhu Supreme Shopping Center, Gulmohar Cross Road No. 9, Juhu,
Mumbai 400049, Maharashtra, India |
|
Tel. No.: |
91-22-26701055 |
|
Fax No.: |
91-22-26701059 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
400 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
8 and 9, Dewan and Sons Udyog Nagar, Palghar (West), Thane, Maharashtra,
India |
|
Tel. No.: |
91-2525-216287 / 256381 |
|
Telefax No.: |
91-2525-255287 |
DIRECTORS
AS ON 02.09.2010
|
Name : |
Mrs. Rita Haresh Mehta |
|
Designation : |
Director |
|
Address : |
5-A, Pleasant Palace, N. S. Road, JVPD Scheme, Mumbai 400049,
Maharashtra, India |
|
Date of Birth/Age : |
20.10.1960 |
|
Date of Appointment : |
01.12.1999 |
|
DIN No.: |
01080344 |
|
|
|
|
Name : |
Mr. Haresh Kapurlal Mehta |
|
Designation : |
Director |
|
Address : |
5-A, Pleasant Palace, N. S. Road, JVPD Scheme, Mumbai 400049,
Maharashtra, India |
|
Date of Birth/Age : |
17.08.1955 |
|
Qualification : |
B. Pharma |
|
Date of Appointment : |
18.03.1994 |
|
DIN No.: |
01080289 |
|
Name : |
Mr. Harshit Haresh Mehta |
|
Designation : |
Director |
|
Address : |
5-A, Pleasant Palace, N. S. Road, JVPD Scheme, Mumbai 400049,
Maharashtra, India |
|
Date of Birth/Age : |
11.09.1985 |
|
Qualification : |
B. Pharma |
|
Date of Appointment : |
14.12.2011 |
|
DIN No.: |
05144280 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Chawla |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 02.09.2010
|
Names of Shareholders |
No. of Shares |
|
Harsh K Mehta |
270500 |
|
Rita Mehta |
179700 |
|
Gita Patel |
10000 |
|
Payal S Patel |
10000 |
|
Rishi H Mehta |
13000 |
|
Suresh Mehta |
26000 |
|
Triveni P Patel |
20000 |
|
Harsh K Mehta HUF |
169800 |
|
Harshit H Mehta |
67000 |
|
Rajesh S Doshi |
33500 |
|
Dhanlaxmi S Doshi |
14000 |
|
Shantilal J Doshi |
22000 |
|
Vikas B Gawde |
24000 |
|
Chintan Vekaria |
55000 |
|
Sejal Vekaria |
3000 |
|
Jitendra Vekaria |
37500 |
|
Shweta Vekaria |
26000 |
|
Total |
981000 |
Date of Allottees 05.10.2011
|
Names of Allottees |
No. of Shares |
|
Shilpa Febrics Private Limited, India |
16000 |
|
B.K. Dyeing and Printing Private Limited,
India |
16000 |
|
Dolex Commercial Private Limited, India |
16000 |
|
|
|
|
Total |
48000 |
AS ON 02.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Products |
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|
|
|
Products : |
·
Tablets ·
Capsules ·
Suspensions |
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|
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Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Nigeria |
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Terms : |
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Selling : |
Cash, Credit |
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|
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|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
·
Bank of Baroda, Vile Parle West Branch, Somaiya
Sadan, D J Road, Vile Parle (West), Mumbai-400056, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Pratap R Rajwade Chartered Accountants |
|
Address : |
117, Shubh Ashirwad, 1st Floor, Hindu Colony Road, No.5,
Dadar, Mumbai-400014, Maharashtra, India |
|
Mobile No.: |
91-9833060763 |
|
PAN No.: |
AEBPR6700B |
|
|
|
|
Associates/Subsidiaries [As confirmed by management] : |
Synmed Healthcare |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1029000 |
Equity Shares |
Rs.10/- each |
Rs. 10.290 Millions |
|
|
|
|
|
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
981000 |
Equity Shares |
Rs.10/- each |
Rs. 9.810 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.810 |
9.570 |
9.130 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
28.131 |
24.093 |
17.776 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
37.941 |
33.663 |
26.906 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.592 |
9.578 |
9.141 |
|
|
2] Unsecured Loans |
7.650 |
9.602 |
6.316 |
|
|
TOTAL BORROWING |
29.242 |
19.180 |
15.457 |
|
|
DEFERRED TAX LIABILITIES |
1.720 |
1.192 |
0.627 |
|
|
|
|
|
|
|
|
TOTAL |
68.903 |
54.035 |
42.990 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
25.732 |
22.094 |
21.935 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
6.452 |
1.681 |
2.431 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
25.725
|
11.425 |
26.063 |
|
|
Sundry Debtors |
16.144
|
32.595 |
6.493 |
|
|
Cash & Bank Balances |
0.939
|
0.058 |
0.308 |
|
|
Other Current Assets |
6.933
|
0.331 |
0.307 |
|
|
Loans & Advances |
21.911
|
12.402 |
10.876 |
|
Total
Current Assets |
71.652
|
56.811 |
44.047 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
31.070
|
23.691 |
23.789 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
3.873
|
2.872 |
1.648 |
|
Total
Current Liabilities |
34.943
|
26.563 |
25.437 |
|
|
Net Current Assets |
36.709
|
30.248 |
18.610 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.010 |
0.012 |
0.014 |
|
|
|
|
|
|
|
|
TOTAL |
68.903 |
54.035 |
42.990 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Labour Charges |
117.795 |
125.066 |
95.792 |
|
|
|
Other Income |
1.198 |
1.551 |
1.817 |
|
|
|
TOTAL (A) |
118.993 |
126.617 |
97.609 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing Expenses |
93.575 |
93.852 |
|
|
|
|
Payment to and Provision for Expenses |
9.330 |
7.751 |
|
|
|
|
Administrative Expenses |
11.082 |
9.647 |
|
|
|
|
Increase / Decreased in Stock of Finished Goods |
(4.562) |
7.185 |
92.471 [Including Financial Expenses] |
|
|
|
TOTAL (B) |
109.425 |
118.435 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.568 |
8.182 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.978 |
2.279 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.590 |
5.903 |
5.138 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.194 |
2.856 |
2.872 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.396 |
3.047 |
2.266 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.528 |
1.790 |
1.298 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.868 |
1.257 |
0.968 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.188 |
3.931 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.056 |
5.188 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.90 |
1.31 |
1.06 |
|
|
Particulars |
|
31.03.2013 [Unaudited] |
31.03.2012 |
|
Operating Income |
|
337.400 |
201.000 |
|
|
|
|
|
|
Profit After tax |
|
4.800 |
2.700 |
Note :
Financials are taken form Indirect source i.e. ICRA.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.57
|
0.99 |
0.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.88
|
2.44 |
2.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.49
|
3.86 |
3.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.09 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.74
|
1.39 |
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
2.14 |
1.73 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
9.130 |
9.570 |
9.810 |
|
Reserves & Surplus |
17.776 |
24.093 |
28.131 |
|
Net
worth |
26.906 |
33.663 |
37.941 |
|
|
|
|
|
|
Secured Loans |
9.141 |
9.578 |
21.592 |
|
Unsecured Loans |
6.316 |
9.602 |
7.650 |
|
Total
borrowings |
15.457 |
19.180 |
29.242 |
|
Debt/Equity
ratio |
0.574 |
0.570 |
0.771 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Sales and Labour Charges |
95.792 |
125.066 |
117.795 |
|
|
|
30.560 |
(5.814) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Sales and Labour Charges |
95.792 |
125.066 |
117.795 |
|
Profit After Tax |
0.968 |
1.257 |
1.868 |
|
|
1.01% |
1.01% |
1.59% |
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 |
Yes |
|
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 five years |
Yes |
|
12] |
Profitability
for five years |
Yes |
|
13] |
Reasons for
variation <> 20% |
----- |
|
14] |
Estimation
for coming financial year |
Yes |
|
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) |
Yes |
|
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 |
Yes |
OPERATIONS:
The company has earned a net profit of Rs. 3.396 millions after writing
of preliminary expenses amounting to Rs. 0.002 million and making provision for
depreciation amounting to Rs. 3.194 millions the directors of the company are
confident of very bright prospect of the company.
UNSECURED LOAN
|
Particulars |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
|
From Directors and Shareholders |
4.924 |
5.210 |
|
Deferred Sales Tax Liability |
2.726 |
4.392 |
|
Total |
7.650 |
9.602 |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80024456 |
23/02/2007 * |
14,937,000.00 |
Bank of Baroda |
Vile Parle West Branch, Somaiya Sadan, D.
J. Road, Vile Parle (West), Mumbai - 400056, Maharashtra, India |
A11601531 |
|
2 |
80024744 |
19/03/2014 * |
116,500,000.00 |
Bank of Baroda |
Vile Parle West Branch, Somaiya Sadan, D.
J. Road, Vile Parle (West), Mumbai - 400056, Maharashtra, India |
C00626143 |
|
3 |
80024471 |
19/03/2014 * |
116,500,000.00 |
Bank of Baroda |
Vile Parle West Branch, Somaiya Sadan, D.
J. Road, Vile Parle (West), Mumbai - 400056, Maharashtra, India |
C00623579 |
* Date of charge modification
FIXED ASSETS:
·
Factory Building
·
Plot at Palghar
·
Furniture and Fixtures
·
Plant and Machinery
·
Electrical Installation
·
Motor Car
·
Air Condition
·
Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 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. 58.57 |
|
UK Pound |
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.