MIRA
INFORM REPORT
|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRI LAKSHMI AGRO FOODS
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.9, N.N. Garden, 10th
Street, Old Washermenpet, Chennai – 600 021, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.03.2002 |
|
|
|
|
Com. Reg. No.: |
18-048593 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.260
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15313TN2002PTC048593 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES20598E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS5766C |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer, Processor and Trader of exalted household food products. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
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 627000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Exist |
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|
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Comments : |
Subject is an
established company having satisfactory track record. Company has
performed well. Overall financial position of the company is decent. Trade relations are
reported to be fair. Business is active. Payments are reported to be usually
correct. The company can
be considered for business dealing 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 – 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.
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. Ketan |
|
Designation : |
General Manager |
|
Contact No.: |
91-9444976451 |
|
Date : |
24.05.2014 |
LOCATIONS
|
Registered Office : |
No.9, N. N. Garden, 10th
Street, Old Washermenpet, Chennai – 600 021, Tamilnadu, India |
|
Tel. No.: |
91-44-25953622 |
|
Mobile No.: |
91-9444976451 (Mr. Ketan) |
|
Fax No.: |
91-44-25993355 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
No.6, T.H. Road, Chennai – 600 019, Tamilnadu, India |
|
Tel. No.: |
91-44-25956074 |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Selvaraj Sudhakar |
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|
Designation : |
Managing Director |
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|
Address : |
84, M.C. Road, Old Washermenpet, Chennai – 600 021, Tamilnadu, India |
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Date of Birth/Age : |
13.09.1971 |
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Qualification : |
B. Com |
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Date of Appointment : |
12.03.2002 |
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DIN No.: |
01158383 |
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PAN No.: |
ARYPS4713R |
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Other Directorship:
|
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|||||||||||||||||||||||||||
|
Name : |
Mr. Selvaraj Dhinakar |
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Designation : |
Whole-time Director |
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|
Address : |
84, M.C. Road, Old Washermenpet, Chennai – 600 021, Tamilnadu, India |
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Date of Birth/Age : |
07.06.1979 |
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Date of Appointment : |
12.03.2002 |
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DIN No.: |
01158520 |
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PAN No.: |
AGCPD8580A |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Ketan |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
S.
Sudhakar |
|
40000 |
|
S.
Dhinakar |
|
40000 |
|
Indumathti |
|
10000 |
|
S.
Sridev| |
|
10000 |
|
D.
Gowri |
|
10000 |
|
Rairela
Ketan. J |
|
6000 |
|
T.
Sakthivel |
|
5000 |
|
S.
Muthuraja |
|
5000 |
|
Total
|
|
126000 |
AS ON 27.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
87.00 |
|
Other
top fifty shareholders |
|
13.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Processor and Trader of exalted household food products. |
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Products : |
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Brand Names : |
·
UDHAIYAM · CHI-CHEY · FASST |
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Imports : |
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Products : |
Machinery |
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Countries : |
Singapore |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
Standard Chartered Bank, SME Banking, No.19, 2nd Floor,
Rajaji Salai Road, Parry's, Chennai – 600 001, Tamilnadu, India ·
The South Indian Bank Limited, George Town Branch, 64, Armenian
Street, Chennai – 600 001, Tamilnadu, India ·
Axis Bank Limited ·
Canara Bank ·
ICICI Bank Limited ·
Indian Bank ·
State Bank of India ·
Kotak Mahindra Bank Limited ·
Tamilnad Mercantile Bank
Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.N
.Puvanenthiran Chartered
Accountant |
|
Address : |
133, Sanjeevirayan, Koil
Street, Old Washermenpet, Chennai – 600 021, Tamilnadu, India |
|
PAN No.: |
AAHPP7934R |
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Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
·
Shri Lakshmi Agro Foods (Firm in which directors are Partners) ·
T.M. Karuppiah Nadar Sons (Firm in which directors are Partners) ·
Shri Lakshmi Agro Agencies (Proprietrix concern) ·
Udhaiyam Agro Freesh (Firm in which directors are Partners) ·
Selvas Agro World (Firm in which partners are related to directors) |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
126000 |
Equity Shares |
Rs.10/- each
|
Rs.1.260
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 |
1.260 |
1.260 |
1.260 |
|
(b) Reserves & Surplus |
155.542 |
127.701 |
104.769 |
|
(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) |
156.802 |
128.961 |
106.029 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
3.562 |
10.104 |
17.350 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
9.707 |
4.598 |
5.247 |
|
(d) Long-term
provisions |
3.009 |
2.793 |
0.000 |
|
Total Non-current
Liabilities (3) |
16.278 |
17.495 |
22.597 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
79.178 |
36.807 |
76.521 |
|
(b)
Trade payables |
57.684 |
70.162 |
55.958 |
|
(c)
Other current liabilities |
5.211 |
20.631 |
17.193 |
|
(d) Short-term
provisions |
14.978 |
13.777 |
14.787 |
|
Total Current
Liabilities (4) |
157.051 |
141.377 |
164.459 |
|
|
|
|
|
|
TOTAL |
330.131 |
287.833 |
293.085 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
92.800 |
98.305 |
101.338 |
|
(ii)
Intangible Assets |
2.684 |
0.947 |
1.929 |
|
(iii)
Capital work-in-progress |
4.081 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.215 |
0.215 |
6.324 |
|
(c) Deferred tax assets (net) |
4.183 |
3.633 |
2.693 |
|
(d) Long-term Loan and Advances |
0.726 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
9.666 |
0.526 |
0.526 |
|
Total Non-Current
Assets |
114.355 |
103.626 |
112.810 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
4.880 |
0.000 |
|
(b)
Inventories |
81.539 |
53.091 |
54.869 |
|
(c)
Trade receivables |
80.454 |
59.089 |
71.487 |
|
(d) Cash
and cash equivalents |
22.683 |
49.922 |
23.299 |
|
(e)
Short-term loans and advances |
31.100 |
17.225 |
13.120 |
|
(f)
Other current assets |
0.000 |
0.000 |
17.500 |
|
Total
Current Assets |
215.776 |
184.207 |
180.275 |
|
|
|
|
|
|
TOTAL |
330.131 |
287.833 |
293.085 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2261.551 |
1839.241 |
1623.054 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
56.068 |
51.019 |
50.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
13.957 |
14.685 |
14.503 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
42.111 |
36.334 |
36.297 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.270 |
13.402 |
11.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
27.841 |
22.932 |
25.055 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
221.00 |
182.00 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.86 |
1.98 |
2.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.09 |
12.79 |
12.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.28 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
0.36 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.30 |
1.10 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
1.260 |
1.260 |
1.260 |
|
Reserves & Surplus |
104.769 |
127.701 |
155.542 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
106.029 |
128.961 |
156.802 |
|
|
|
|
|
|
Long-term borrowings |
17.350 |
10.104 |
3.562 |
|
Short term borrowings |
76.521 |
36.807 |
79.178 |
|
Total borrowings |
93.871 |
46.911 |
82.740 |
|
Debt/Equity ratio |
0.885 |
0.364 |
0.528 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
1,623.054 |
1,839.241 |
2,261.551 |
|
|
|
13.320 |
22.961 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
1,623.054 |
1,839.241 |
2,261.551 |
|
Profit |
25.055 |
22.932 |
27.841 |
|
|
1.54% |
1.25% |
1.23% |
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 |
Yes |
|
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 |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
LITIGAITON DETAILS:
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
|
Status Of: |
CIVIL SUITS |
|
Case No.: |
601 |
|
Year : |
2010 |
|
Petitioner : |
GRB DAIRY FOODS PRIVATE LIMITED |
|
Respondent : |
SHRI LAKSHMI AGRO FOODS PRIVATE LIMITED |
|
Pet's Advocate : |
K. RAJASEKARAN |
|
Res's Advocate : |
SATISH PARASARAN |
|
Category : |
Trade Marks Act, 1999 |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Oct 11 2010 |
Connected
Application(s)
|
Application Type |
Application Number |
Application Year |
|
A |
4552 |
2010 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10467188 |
05/12/2013 |
2,466,000.00 |
AXIS BANK LIMITED |
TRISHUL, 3RD FLOOR, OPPOSITE
SAMARTHESHWAR TEMPLE, LAW GARDEN, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006,
INDIA |
B92391713 |
|
2 |
10239135 |
15/10/2013 * |
269,600,000.00 |
STANDARD CHARTERED BANK |
2ND FLOOR, NO.19, RAJAJI
SALAI, CHENNAI, TAMILNADU - 600001, INDIA |
B91368019 |
|
3 |
90284199 |
14/05/2003 |
780,036.00 |
CITICORP FINANCE (INDIA)
LIMITED |
1ST FLOOR, ANGSON CENTRE;
153; GREAMS ROAD, CHENNAI, TAMILNADU - 600006, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
Intangible Assets
·
Computer Software
WEBSITE DETAILS:
PROFILE:
Subject is one of the consumer food product companies in India,
with magnificently over 75 years of business expertise. Under the most
trustworthy brand name Udhaiyam, it is a manufacturer and marketer of exalted
household food products. It’s farm-fresh agro food business especially in
pulses has rapidly grew up at impressive annual turn-over by exceeding 40
millions US dollars.
PRODUCT RANGE:
Their company carries forward its food business to deliver high quality
products to consumers. All their food products are a tribute to the unique
Indian home-cook tradition. The divergent range of it’s products has
always set out to empower home-makers and enable them to make wholesome
delicious food options. It has a diversified presence in Udhaiyam brand
food products includes Pulses such as Toor Dhall, Orid Dhall, Moong Dhall and
Gram Dhall, Semi-cooked Food products such as Idly / Dosa Batter, Chapathi and
Parotta, Instant Sambar, Instant Gulab Jamoon Mix, Atta, Chakki Fresh Atta,
Maida Suji, Gram Flours, Chickpeas, Fried Gram, Basic Spices Such as Sounf,
Pepper, Mastard, Fenugreek and Cumin, Ground Spices such as Turmeric Powder,
Chilly Powder and Asafoetida Powder, Instant Speciality Paste / Powder Mixes,
Ready- to-use Spicy Masala Mixes, Appalam, Sugar, Basmathi Rice, Refined
Sunflower Oil, Refined Palmolein, Ghee, Iodised Free Flow Salt, Iodised Crystal
Salt, etc.,
They offer to clients a value-added product range of ready-to-eat snaky
foods with brand name Chi-Chey. The exciting popular Chi-Chey branded
high-calorie junk food varieties are loved by kids, and providing mothers a
tasty and healthy snacking option for their children.
The company recently diversified into non-food ranges. With brand name
Fasst, the main product ranges of these home care segments are Scouring Powder,
Dish-wash Detergent Bar and Cleaning Sanitary Liquids with four different
pleasant fragrances. Apart from their current portfolio of branded
products, several new and innovative products are under development in their
company.
FMCG:
Their Fast Moving Consumer Goods (FMCG) Company serves domestic and
international consumer on various domains with its food products and home care
products. The Zeal to offer authentically best, has given them to edge over the
others. Their business task is being executed even more energetically to
deliver long-term competitive, profitable, and sustainable growth.
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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--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.