MIRA
INFORM REPORT
|
Report Date : |
25.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARYAN FOOD PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
601/602, B Wing, Lokmat Bhawan, Ramdaspeth, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.10.2005 |
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Com. Reg. No.: |
11-156690 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.921 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15136MH2005PTC156690 |
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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 : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer Exporter and Importer of ready to eat food products, like
Indian Carries, Dal Makhni, Paneer batter masala |
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No. of Employees
: |
5 Permanent (Contract: Minimum 30 depend) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 150000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated on 13th October
2005, it has commenced its business operations from July 2013. It is having moderate
track record. Mr. Saket Shaikh, Accounts Manager has provided general information to
us. As per the financial of 2014, the company has achieved minimal sales
turnover in its first year of business operations. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considering for business dealings with some
caution. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
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
Not Available
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Saket Shaikh |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-8983006960 |
|
Date : |
18.11.2014 |
LOCATIONS
|
Registered Office : |
601/602, B Wing, Lokmat Bhawan, Ramdaspeth, Nagpur – 440012,
Maharashtra, India |
|
Tel. No.: |
91-712-2461971 |
|
Mobile No.: |
91-9373114747 (Mr. Anand Daga) 91-8983006960 (Mr. Saket) |
|
Fax No.: |
91-712-2461971 |
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E-Mail : |
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Website : |
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Factory : |
FP 46 and 47, Orange City Food Park, MIDC Butibori, Nagpur - 441122, Maharashtra,
India |
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Tel. No.: |
91-7104265950 |
|
E-Mail : |
DIRECTORS
As on: 15.09.2014
|
Name : |
Mrs. Jamunadevi Shyamsunder |
|
Designation : |
Director |
|
Address : |
606 , Shriman Palace, Lokmat Square, Dhantoli, Nagpur-440012, Maharashtra, India |
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DIN No.: |
03373731 |
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|
|
|
Name : |
Shri. Ghanshyam Daga |
|
Designation : |
Director |
|
Address : |
102, Tuilsi Apartment, Telephone exchange squre, Nagpur -440002, Maharashtra, India |
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DIN No.: |
06490845 |
KEY EXECUTIVES
|
Name : |
Mr. Saket Shaikh |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 15.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Jamunadevi Daga. |
|
2450 |
|
Anand Shyamsunder Daga. |
|
46100 |
|
Rachana Anand Daga |
|
2450 |
|
Anand Daga (HUF) |
|
171100 |
|
Colourunion International Private Limited |
|
60000 |
|
Kavya Share & Securities Private Limited |
|
30000 |
|
Nakshatra Business Private Limited |
|
100000 |
|
Atharv Business Private Limited |
|
200000 |
|
Gambhari Trading Private Limited |
|
60000 |
|
Asan Investment & Finance Private Limited |
|
200000 |
|
Yashita Trading Private Limited |
|
40000 |
|
Khushi Industries Limited |
|
80000 |
|
Total |
|
992100 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
77.61 |
|
Directors or relatives of directors |
|
22.39 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Exporter and Importer of ready to eat food products, like
Indian Carries, Dal Makhni, Paneer batter masala |
|
|
|
|
Products : |
Tayyar Dal Dhamaka |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Gulf Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Taiwan ·
China |
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Terms : |
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Selling : |
Cash, L/C, Credit |
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Purchasing : |
Cash, L/C, Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Jyoti Ratio and Electrical ·
Khandelwal Enterprises ·
M/s Santosh Engineering and Fabricators ·
Sterdill Equipments Private Limited ·
Nagpur Biofuels LLP ·
Santosh Fabricators ·
Softweb
|
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
5 Permanent (Contract: Minimum 30 depend) |
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Bankers : |
·
ICICI Bank ·
Canara bank
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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|
Name : |
Ravindra Wankhede Chartered Accountants |
|
Address : |
1160, "Shree Krupa" Building, Near Post Office ,Gokulpeth,
Nagpur – 440010, Maharashtra, India |
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Tel. No.: |
91-712-0526919 |
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PAN No.: |
AAFPW3696M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
As on: 30.09.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
992,100 |
Equity Shares |
Rs.10/- each |
Rs. 9.921
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 |
9.921 |
9.736 |
9.736 |
|
(b) Reserves & Surplus |
42.609 |
37.580 |
37.548 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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(2)
Share Application money pending allotment |
0.090 |
0.185 |
0.185 |
|
Total Shareholders’ Funds (1) + (2) |
52.620 |
47.501 |
47.469 |
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
8.904 |
9.488 |
3.207 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
8.904 |
9.488 |
3.207 |
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.145 |
0.285 |
0.000 |
|
(c)
Other current liabilities |
0.033 |
0.027 |
0.063 |
|
(d) Short-term
provisions |
0.031 |
0.009 |
0.013 |
|
Total Current
Liabilities (4) |
0.209 |
0.321 |
0.076 |
|
|
|
|
|
|
TOTAL |
61.733 |
57.310 |
50.752 |
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.370 |
1.353 |
1.340 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
18.791 |
17.805 |
4.588 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.553 |
0.033 |
0.030 |
|
(e) Other
Non-current assets |
0.767 |
0.347 |
0.052 |
|
Total Non-Current
Assets |
25.481 |
19.538 |
6.010 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
33.071 |
34.089 |
40.769 |
|
(b)
Inventories |
0.187 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
0.174 |
0.813 |
2.662 |
|
(e)
Short-term loans and advances |
2.007 |
2.000 |
1.300 |
|
(f)
Other current assets |
0.813 |
0.870 |
0.011 |
|
Total
Current Assets |
36.252 |
37.772 |
44.742 |
|
|
|
|
|
|
TOTAL |
61.733 |
57.310 |
50.752 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.677 |
0.000 |
0.000 |
|
|
|
Other Income |
0.135 |
0.091 |
0.096 |
|
|
|
TOTAL (A) |
0.812 |
0.091 |
0.096 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.297 |
0.000 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.062) |
0.000 |
0.000 |
|
|
|
Employees benefits expense |
0.216 |
0.000 |
0.000 |
|
|
|
Other expenses |
0.207 |
0.028 |
0.022 |
|
|
|
TOTAL (B) |
0.658 |
0.028 |
0.022 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.154 |
0.063 |
0.074 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.014 |
0.022 |
0.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.140 |
0.041 |
0.072 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.140 |
0.041 |
0.072 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.031 |
0.009 |
0.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.109 |
0.032 |
0.058 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.676 |
0.644 |
0.586 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.785 |
0.676 |
0.644 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.09 |
0.32 |
0.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
16.10 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Operating Margin (PBIDT/Sales) |
(%) |
22.75 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.33 |
0.10 |
0.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.17 |
0.20 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
173.45 |
117.67 |
588.71 |
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 |
9.736 |
9.736 |
9.921 |
|
Reserves & Surplus |
37.548 |
37.580 |
42.609 |
|
Share Application Money |
0.185 |
0.185 |
0.090 |
|
Net worth |
47.469 |
47.501 |
52.620 |
|
|
|
|
|
|
long-term borrowings |
3.207 |
9.488 |
8.904 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
3.207 |
9.488 |
8.904 |
|
Debt/Equity ratio |
0.068 |
0.200 |
0.169 |
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) |
|
Total Income |
0.096 |
0.091 |
0.812 |
|
|
|
(5.208) |
792.308 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
0.096 |
0.091 |
0.812 |
|
Profit |
0.058 |
0.032 |
0.109 |
|
|
60.42% |
35.16% |
13.42% |
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
No |
UNSECURED LOAN
|
Particular |
As on 31.03.2014 (Rs. In Millions) |
As on 31.03.2013 (Rs. In Millions) |
|
Long term
Borrowing |
|
|
|
|
|
|
|
SFAC Venture Capital Fund |
1.475 |
1.475 |
|
Total |
1.475 |
1.475 |
BUSINESS OUTLOOK:
The company is expanding its activities in all over the areas to mug up the opportunities in the market. The Company intends to strengthen its position in the market by acquiring new targets in the market. The Activities of company has increased considerably giving better margins to the company. The company wants to strengthen its activities in market by accepting or formulating offensive and defensive strategies in the market.
ETHICS & QUALITY:
They continue our journey towards excellence with a critical focus on quality and productivity with significant investments in quality programs. Our quality department manages large management initiatives to drive quality and productivity improvements across the organizations.
INDUSTRIAL RELATIONS:
The Industrial relations continued to be healthy and cordial. The process of consultation with AFPPL employee and AFPPL officers association on important issues governing employee’s benefits and welfare etc. continued and on majority of the atmosphere of mutual trust and harmonious relations that prevail in the company. Motivated employees worked in team spirit and excelled the previous year’s.
EDUCATION &
RESEARCH:
They understand the significance of learning and continual education in providing our employees with latest skills and technologies. They believe this will help in creating a challenging, entrepreneurial and empowering work environment that rewards dedication and a strong work ethics for our employees. Our training, continuing education and career development programs are designed to ensure that our technology professionals and leaders enhance their skills-sets in alignment with their respective roles.
RESEARCH AND
DEVELOPMENT:
The company has given the special department for research and development for the advancement & development of existing product in the new form. The company has develop tremendous facilities in the process of product development in the new market.
MANAGEMENT DISCUSSION
& ANALYSIS REPORT (MD&A):
Based on feedback from Members on the Annual Report and Accounts, this report includes MD&A as appropriate so that duplication and overlap between the Directors' Report and a separate MD&A is avoided and the entire material is provided in a composite and comprehensive document.
INDUSTRY STRUCTURE
& DEVELOPMENTS:
Despite a steady deterioration in the overall Indian economic climate, the overall trends in food industry consumption remained positive. The development of the food industry in India will require investments in both building of food processing capabilities and the expansion of distribution reach. Together, these will ensure that they are capable of reaching out to large numbers of Indian consumers with products that are relevant, affordable and profitable. The Company is taking advantage of the continuing strong trends in food consumption through capital investments which will enable us to offer the Indian consumer a broad range of high quality food products. Simultaneously they are continuing to expand our distribution footprint across India. Together, these will enable us to progress towards our goal of being amongst India's "Best Performing Most Respected Food Companies".
RESEARCH, QUALITY
& INNOVATION (RQI):
The Company continues to focus on innovation as a driver of growth. FY'14 saw the introduction of new flavors in Ready to Cook & Ready to Eat packaged food product.
INDIAN ECONOMIC
SCENARIO:
The stringent monetary policy adopted by the Reserve Bank of India (RBI) led to a stubbornly high interest rate regime which adversely impacted growth. While the Government struggled to deal with the challenges unleashed by higher fiscal deficit, overall business and consumer confidence dampened, which weakened the demand scenario in the market.
MARKET RISK:
Economic turbulence in the global markets especially developed ones is a factor determining the growth and changes in consumer preferences could also impact business.
ACKNOWLEDGEMENTS:
The Board of Directors acknowledge and place on record their appreciation for the guidance, co-operation and encouragement extended to the Company by the Government of India, Ministry of Power, Ministry of Finance, Ministry of Corporate Affairs, Reserve Bank of India, Department of Public Enterprises, other concerned Government departments/agencies at the Central and State level as well as from various domestic and international financial institutions/banks, agencies etc.
The Board also conveys its gratitude to the shareholders, various International and Indian Banks/Multilateral agencies/financial Institutions/ credit rating agencies for the continued trust. Directors would also like to convey their gratitude to the clients and customers for their unwavering trust and support.
They would also like to place on record our appreciation for the untiring efforts and contributions made by the employees to ensure excellent all round performance of the Company.
FIXED ASSETS:
·
Plot at MIDC
·
Computer software
·
Plant and Machinery WIP
·
Factory Building WIP
·
Fighting Equipments
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10311436 |
24/09/2011 |
14,500,000.00 |
BANK OF INDIA |
MAIN BRANCH NAGPUR 1 ZONE,, BOI BUILDING
S.V.PATE |
B23039480 |
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 records 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.61.77 |
|
|
1 |
Rs.96.78 |
|
Euro |
1 |
Rs.76.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.