MIRA INFORM REPORT
|
Report Date : |
19.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAFEPACK INDUSTRIES LIMITED (w.e.f. 1996) |
|
|
|
|
Formerly Known
As : |
SAFEPACK POONA PRIVATE LIMITED |
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|
|
|
Registered Office
: |
Gat No. 1093/1094, At and Post Shiroli, Taluka Rajgurunagar, Pune –
410505, |
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|
Country : |
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Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.05.1991 |
|
|
|
|
Com. Reg. No.: |
11-061503 |
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|
Capital
Investment / Paid-up Capital : |
Rs.40.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29195PN1991PLC061503 |
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|
|
TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and sale of specility packaging material i.e.
protective, polycoated and flexible packaging materials and allied
activities. |
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|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The rating reflects the company sound financial risk profile marked by
healthy net worth and fair profitability of the company. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be usually correct. The company can be considered normal 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
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go
slowly on talks over coal supply contracts, uncertainty over cancellation of
blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs
as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy stake
in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term = BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
October, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term = A4+ |
|
Rating Explanation |
Minimal degree of safety it carry very high
credit risk. |
|
Date |
October, 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
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-20-27111000)
LOCATIONS
|
Registered Office/Factory : |
Gat No. 1093/1094, At and Post Shiroli, Taluka Rajgurunagar, Pune –
410505, Maharashtra, India |
|
Tel. No.: |
91-2135-222199 |
|
Mobile No.: |
91-9860798881 (Mr. Ravindra |
|
Fax No.: |
91-2135-223289 |
|
E-Mail : |
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|
Website : |
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|
Area : |
50000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Marketing Office 1: |
77, Safepack Complex, MIDC, Bhosari, Pune – 411 026, |
|
Tel. No.: |
91-20-27111000 |
|
Fax No.: |
91-20-27111000 |
|
E-Mail : |
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|
|
|
|
Marketing Office 2: |
A Symphony, 210 Ashok Nagar, Range Hills Road, Pune - 411020,
Maharashtra, India |
|
Tel No.: |
91-20-25560400 / 25560999 / 25561600 / 25561500 |
|
Fax No.: |
91-20-25560888 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Rajendra Bhagirath Tapadia |
|
Designation : |
Managing director |
|
Address : |
Bunglow No. 1, |
|
Date of Birth/Age : |
06.10.1959 |
|
Date of Appointment : |
16.11.2000 |
|
DIN No.: |
00508894 |
|
|
|
|
Name : |
Mrs. Anjali Rajendra Tapadia |
|
Designation : |
Whole-time director |
|
Address : |
Bunglow No. 1, |
|
Date of Birth/Age : |
30.07.1962 |
|
Date of Appointment : |
26.05.1991 |
|
DIN No.: |
00508907 |
|
|
|
|
Name : |
Mr. Mohan Harakchand Bhandari |
|
Designation : |
Director |
|
Address : |
604, Mantri Lawns, Behind Anand Ban Club, Anand Ban, Aundh, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1959 |
|
Date of Appointment : |
20.10.2001 |
|
DIN No.: |
00052777 |
|
|
|
|
Name : |
Mr. Rajesh Omkarnath Malpani |
|
Designation : |
Director |
|
Address : |
Bansuri Janakinagar, Sangamner, District Ahmednagar Ms, Sangamner – 422605, Maharashtra, India |
|
Date of Birth/Age : |
23.02.1961 |
|
Date of Appointment : |
20.11.2001 |
|
DIN No.: |
01596468 |
KEY EXECUTIVES
|
Name : |
Shekhar Ghatpande and Company |
|
Designation : |
Company Secretaries |
|
Address: |
“Saraswati’, Flat No. 13, 3rd Floor, 93, Rambaug Colony,
Paud Road, Kothrud, Pune – 411038, Maharashtra, India |
|
|
|
|
Name : |
Mr. Ravindra |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rajendra Bhagirath Tapadia |
|
3105270 |
|
Anjali Rajendra Tapadia |
|
938700 |
|
Ajit Khushalchand Lunawat |
|
1800 |
|
Mohan Harakchand Bhandari |
|
2250 |
|
Rajendra Bhagirath Tapadia (HUF) |
|
900 |
|
Sushil Pandurang Mantri |
|
180 |
|
Rajesh Omkarnath Malpani |
|
450 |
|
Safe Packaging Private Limited, Pune, Maharashtra, India |
|
450 |
|
Total |
|
4050000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
99.94 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of specility packaging material i.e.
protective, polycoated and flexible packaging materials and allied
activities. |
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|
|
|
Products : |
-- |
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|
|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
State Bank of India, 1548 A,Commercial Branch, Sadashiv Peth,Tilak Road, Pune - 411030, Maharashtra, India |
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Facilities : |
Notes: Security and terms of
repayments
|
|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Patankar and Associates Chartered Accountants |
|
Address : |
19, Gold Wings, Parvati Nagar, Sinhagad Road, Pune - 411030,
Maharashtra, India |
|
Tel. No.: |
91-20-24252117/ 18 |
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E-Mail : |
|
|
PAN No.: |
AABFP8926B |
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|
|
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Memberships : |
-- |
|
|
|
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Collaborators : |
-- |
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|
Other related parties (As on 31.03.2013) |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4230000 |
Equity Shares |
Rs.10/- each |
Rs.42.300 Millions |
|
20000 |
Preference Shares |
Rs.10/- each |
Rs.0.200 Million |
|
|
Total |
|
Rs.42.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4050000 |
Equity Shares |
Rs.10/- each |
Rs.40.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
40.500 |
40.500 |
40.500 |
|
(b) Reserves & Surplus |
120.483 |
102.593 |
92.442 |
|
(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) |
160.983 |
143.093 |
132.942 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
61.019 |
71.401 |
64.872 |
|
(b) Deferred tax liabilities (Net) |
14.355 |
15.395 |
8.335 |
|
(c) Other long term
liabilities |
1.265 |
0.759 |
0.619 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
76.639 |
87.555 |
73.826 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
183.405 |
106.855 |
143.462 |
|
(b) Trade
payables |
135.425 |
80.099 |
47.562 |
|
(c) Other
current liabilities |
26.147 |
32.033 |
26.462 |
|
(d) Short-term
provisions |
5.468 |
3.684 |
1.147 |
|
Total Current
Liabilities (4) |
350.445 |
222.671 |
218.633 |
|
|
|
|
|
|
TOTAL |
588.067 |
453.319 |
425.401 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
198.109 |
219.924 |
236.688 |
|
(ii)
Intangible Assets |
0.478 |
0.807 |
0.399 |
|
(iii)
Capital work-in-progress |
15.324 |
15.085 |
20.982 |
|
(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 |
9.491 |
13.397 |
11.583 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
223.403 |
249.214 |
269.653 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.907 |
86.794 |
69.837 |
|
(c) Trade
receivables |
175.925 |
109.637 |
78.118 |
|
(d) Cash
and cash equivalents |
102.478 |
4.534 |
4.802 |
|
(e)
Short-term loans and advances |
4.254 |
2.815 |
2.861 |
|
(f) Other
current assets |
0.100 |
0.325 |
0.130 |
|
Total
Current Assets |
364.664 |
204.105 |
155.748 |
|
|
|
|
|
|
TOTAL |
588.067 |
453.319 |
425.401 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
702.494 |
603.380 |
515.794 |
|
|
|
|
Other Income |
18.383 |
4.062 |
1.782 |
|
|
|
|
TOTAL (A) |
720.877 |
607.442 |
517.576 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
499.564 |
420.323 |
373.706 |
|
|
|
|
Purchase of Stock-in-trade |
0.186 |
0.205 |
0.177 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
7.053 |
(0.038) |
1.186 |
|
|
|
|
Employee Benefits Expenses |
51.634 |
43.176 |
39.684 |
|
|
|
|
Other Expenses |
75.563 |
63.701 |
63.897 |
|
|
|
|
TOTAL (B) |
634.000 |
527.367 |
478.650 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
86.877 |
80.075 |
38.926 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
22.036 |
25.411 |
28.139 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
64.841 |
54.664 |
10.787 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
16.194 |
15.061 |
10.316 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
48.647 |
39.603 |
0.471 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
15.148 |
13.841 |
0.283 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
33.499 |
25.762 |
0.188 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
36.875 |
11.113 |
10.925 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
70.374 |
36.875 |
11.113 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Export |
56.481 |
56.918 |
55.877 |
|
|
|
TOTAL EARNINGS |
56.481 |
56.918 |
55.877 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
84.597 |
52.497 |
75.350 |
|
|
|
|
Stores & Spares |
0.000 |
0.097 |
0.000 |
|
|
|
|
Capital Goods |
0.371 |
0.279 |
0.000 |
|
|
|
TOTAL IMPORTS |
84.968 |
52.873 |
75.350 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.27 |
6.36 |
0.07 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.77 |
4.27 |
0.04 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.37 |
13.27 |
7.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.49 |
9.04 |
0.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.28 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.52 |
1.25 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
0.92 |
0.71 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
40.500 |
40.500 |
40.500 |
|
Reserves & Surplus |
92.442 |
102.593 |
120.483 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
132.942 |
143.093 |
160.983 |
|
|
|
|
|
|
Long Term borrowings |
64.872 |
71.401 |
61.019 |
|
Short Term borrowings |
143.462 |
106.855 |
183.405 |
|
Total
borrowings |
208.334 |
178.256 |
244.424 |
|
Debt/Equity
ratio |
1.567 |
1.246 |
1.518 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
515.794 |
603.380 |
702.494 |
|
|
|
16.981 |
16.426 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
515.794 |
603.380 |
702.494 |
|
Profit |
0.188 |
25.762 |
33.499 |
|
|
0.04% |
4.27% |
4.77% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
9.903 |
19.190 |
12.761 |
|
Total |
9.903 |
19.190 |
12.761 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Sales Tax Deferernent Loans and Advances from Related Parties |
4.771 |
5.897 |
|
Intercorporate deposit |
10.000 |
11.900 |
|
From Director |
24.200 |
53.500 |
|
Less: Amount disclosed under the head "Other Current Liabilities |
9.903 |
19.190 |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits from Directors |
0.503 |
1.075 |
|
Total |
29.571 |
53.182 |
CORPORATE
INFORMATION:
The Company is a closely held Company. The Company is engaged in the business of manufacture and sale of specility packaging material i.e. protective, polycoated and flexible packaging materials and allied activities. The Company operates in both domestic and international market.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10508392 |
31/07/2014 * |
165,000,000.00 |
HDFC Bank Limited |
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
C20126405 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.81 |
|
|
1 |
Rs.96.77 |
|
Euro |
1 |
Rs.77.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
45 |
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.