MIRA
INFORM REPORT
|
Report Date : |
29.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHHAJED FOODS PRIVATE LIMITED (w.e.f.15.02.2007) |
|
|
|
|
Formerly Known
As : |
CHHAJER FOODS PRIVATE LIMITED |
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|
|
Registered
Office : |
2, Suraj Estate, Near Plot No. 3757, G.I.D.C. Phase - IV, Vatva,
Ahmedabad - 382445, Gujarat |
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|
|
Country : |
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|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.12.1996 |
|
|
|
|
Com. Reg. No.: |
04-031332 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45209GJ1996PTC031332 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
0803008350 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHMC00323B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC7802K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, exporter and supplier
of premium quality ready-to-fry snack pellets and ready-to-boil pastas. |
|
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|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating takes into consideration the company moderate financial
risk profile and leverage capital structure of the company. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered 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.
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 |
CRISIL |
|
Rating |
Long Term Rating = BB |
|
Rating Explanation |
Moderate risk of default |
|
Date |
26.11.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk |
|
Date |
26.11.2014 |
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 BY
|
Name : |
Mr. Sandip Chhajed |
|
Designation : |
Director |
|
Contact No.: |
91-9879007940 |
|
Date : |
28.11.2014 |
LOCATIONS
|
Registered Office : |
2, Suraj Estate, Near Plot No. 3757, G.I.D.C. Phase - IV, Vatva,
Ahmedabad - 382445, Gujarat, India |
|
Tel. No.: |
91-79-40084334/40084335 |
|
Mobile No.: |
91-8587028883/9662036955/9879007940 (Mr. Sandeep Chhajed) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Shubhkaran Chhajed |
|
Designation : |
Director |
|
Address : |
A/2, Vijay Tower, Opposite Kankaria Police Chowky,
Kankaria, Ahmedabad – 380022, Gujarat, India. |
|
Date of Birth: |
05.05.1947 |
|
Qualification : |
S.S.C. |
|
Date of Appointment: |
19.12.1996 |
|
DIN: |
00450643 |
|
|
|
|
Name : |
Mr. Rajesh Chhajed |
|
Designation : |
Director |
|
Address : |
A/2, |
|
Date of Birth: |
07.06.1971 |
|
Qualification : |
B. Com. |
|
Date of Appointment: |
19.12.1996 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. Nikunj Chhajed |
|
Designation : |
Director |
|
Address : |
A/2, |
|
Date of Birth: |
21.03.1976 |
|
Qualification : |
B. Com. |
|
Date of Appointment: |
01.04.2000 |
|
DIN: |
00451013 |
|
|
|
|
Name : |
Mr. Sandip Chhajed |
|
Designation : |
Director |
|
Address : |
A/2, |
|
Date of Birth: |
13.05.1978 |
|
Qualification : |
B. Com. |
|
Date of Appointment: |
01.04.2000 |
|
DIN: |
01674196 |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Shubhakaran Surajmal Chhajed |
|
284840 |
|
Mr. Rajesh Shubhakaran Chhajed |
|
285694 |
|
Mr. Nikunj Chhajed |
|
290240 |
|
Mr. Sandeep Chhajed |
|
290956 |
|
Mr. Shubhakaran Chhajed |
|
85500 |
|
Mrs. Sangeeta Inderchand Sethia |
|
54400 |
|
Mrs. Seema Nikunj Chajed |
|
283800 |
|
Mrs. Brijilatta Shubhakaran Chhajed |
|
340014 |
|
Mrs. Ruchika Sandeep Chajed |
|
273034 |
|
Mr. Suraj Ramlal Bucha Jointly |
|
34 |
|
Mrs. Sudha Surajmal Bucha |
|
34 |
|
Mr. Sumit Kumar Maloo |
|
34 |
|
Mrs. Rita R Chhajed |
|
323000 |
|
Mr. Wisnom Professionals Private L:imited |
|
258400 |
|
Mr. Shubhakaran S. Chhajed - HUF |
|
150000 |
|
Mr. Rajesh Chhajed Jt. With Rita R Chhajed |
|
60000 |
|
Mr. Arvindbhai Patel |
|
10 |
|
Mr. Tapasvi Arvindhabhai Patel |
|
10 |
|
Total |
|
2980000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
8.67 |
|
Directors or relatives of Directors |
91.32 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter and
supplier of premium quality ready-to-fry snack pellets and ready-to-boil pastas. |
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|
|
|
Products : |
·
Basket Shaped Snack Pellets ·
Big Stick Snack Pellets ·
Big Ring Snack Pellets ·
Small Riffile Snack Pellets ·
Big Riffile Snack Pellets ·
Medium Ring Snack Pellets ·
Mix Toys Snack Pellets ·
Katori Shaped Snack Pellets ·
Small Wheel Snack Pellets ·
Medium Piper Snack Pellets ·
Baby Square Wavy Chips Pellets ·
Big star Snack Pellets ·
Button Snack Pellets ·
Button Snack Pellets ·
Small Alphabets Snack Pellets |
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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 : |
Not Divulged |
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No. of Employees : |
Information denied by management |
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Bankers : |
Bank of Baroda, Bhadra Branch, Opposite Dinbai Tower, Lal Darwaja,
Ahmedabad- 380001, Gujarat, India. |
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Facilities : |
Notes: Short Term Borrowings From
Banks secured by way of hypothecation of stocks, book debts, plant and
machineries, equipment’s spare and vehicles of the company and further
secured by way of extension of equitable mortgage of land and building
immovable property of directors and relatives and personal guarantee of
directors. |
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|
|
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Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
Bhanwar Jain and Company Chartered Accountant |
|
Address : |
302, Kaling Complex, Near Mount Carmel School, Ashram Road, Ahmedabad-
380009, Gujarat, India. |
|
Tel. No.: |
91-79-26583107 |
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Mobile No.: |
91-9998804450 |
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E-Mail : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2980000 |
Equity Shares |
Rs.10/- each |
Rs.29.800
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 |
37.300 |
29.800 |
29.800 |
|
(b) Reserves & Surplus |
55.355 |
29.519 |
27.504 |
|
(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) |
92.655 |
59.319 |
57.304 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
202.474 |
155.306 |
103.998 |
|
(b) Deferred tax liabilities (Net) |
7.648 |
1.583 |
0.560 |
|
(c) Other long term liabilities |
2.089 |
0.961 |
0.305 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
212.211 |
157.850 |
104.863 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
82.501 |
80.053 |
34.969 |
|
(b) Trade payables |
49.371 |
44.013 |
15.221 |
|
(c) Other current
liabilities |
41.182 |
33.661 |
1.494 |
|
(d) Short-term provisions |
5.403 |
0.615 |
2.079 |
|
Total Current Liabilities (4) |
178.457 |
158.342 |
53.763 |
|
|
|
|
|
|
TOTAL |
483.323 |
375.511 |
215.930 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
200.709 |
211.409 |
20.915 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
74.775 |
0.000 |
16.740 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.147 |
0.047 |
0.047 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.177 |
2.062 |
89.159 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
275.808 |
213.518 |
126.861 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
83.740 |
49.148 |
18.414 |
|
(c) Trade receivables |
31.888 |
61.804 |
43.896 |
|
(d) Cash and cash
equivalents |
78.560 |
44.971 |
20.013 |
|
(e) Short-term loans and
advances |
8.301 |
3.995 |
5.880 |
|
(f) Other current assets |
5.026 |
2.075 |
0.866 |
|
Total Current Assets |
207.515 |
161.993 |
89.069 |
|
|
|
|
|
|
TOTAL |
483.323 |
375.511 |
215.930 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
124.814 |
110.961 |
|
|
|
|
Other Income |
|
0.010 |
0.011 |
|
|
|
|
TOTAL (A) |
310.024 |
124.824 |
110.972 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL (B) |
228.914 |
107.266 |
92.612 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
81.110 |
17.558 |
18.360 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
23.561 |
4.871 |
8.703 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
57.549 |
12.687 |
9.657 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
30.543 |
9.459 |
3.476 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
27.006 |
3.228 |
6.181 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
8.479 |
1.023 |
1.931 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
18.527 |
2.205 |
4.250 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.467 |
7.451 |
14.003 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Income Tax of earlier year |
0.191 |
0.189 |
0.108 |
|
|
|
BALANCE CARRIED
TO THE B/S |
27.803 |
9.467 |
7.451 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
15.978 |
20.700 |
13.050 |
|
|
|
TOTAL EARNINGS |
15.978 |
20.700 |
13.050 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.22 |
NA |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
1.77 |
3.83 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
14.07 |
16.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.61 |
0.86 |
3.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.05 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.08 |
3.97 |
2.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.02 |
1.66 |
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 |
29.800 |
29.800 |
37.300 |
|
Reserves & Surplus |
27.504 |
29.519 |
55.355 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
57.304 |
59.319 |
92.655 |
|
|
|
|
|
|
Long Term borrowings |
103.998 |
155.306 |
202.474 |
|
Short Term borrowings |
34.969 |
80.053 |
82.501 |
|
Total
borrowings |
138.967 |
235.359 |
284.975 |
|
Debt/Equity
ratio |
2.425 |
3.968 |
3.076 |
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 |
110.972 |
124.824 |
310.024 |
|
|
|
12.482 |
148.369 |
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 |
110.972 |
124.824 |
310.024 |
|
Profit |
4.250 |
2.205 |
18.527 |
|
|
3.83% |
1.77% |
5.98% |
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 |
29.875 |
26.778 |
0.000 |
|
Total |
29.875 |
26.778 |
0.000 |
|
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 |
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 |
No |
|
18] |
Major customers |
No |
|
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 |
|
|
|
From Related Parties |
|
|
|
- From Directors |
1.275 |
7.427 |
|
- From Shareholders |
19.852 |
19.929 |
|
- From Companies |
0.000 |
0.750 |
|
From Others |
|
|
|
- From Companies |
32.480 |
6.100 |
|
- From Banks |
1.181 |
24.933 |
|
Total |
54.788 |
59.139 |
OPERATION AND
REVIEW:
During the year the Company has achieved total revenue of Rs.310.024 Millions compared to Rs.124.824 Millions in the previous year. The net profit of your Company was Rs.18.527 Millions. In bhyunspite of inflationary market, the Company has maintained its growth momentum and competitive edge, as could be seen from the above figures.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90107331 |
08/08/2014 * |
428,600,000.00 |
Bank of Baroda |
Bhadra Branch,, Opp. Dinbai Tower, Lal Darwaja, Ahmedabad, Gujarat - 380001, India |
C16167470 |
|
2 |
90105310 |
11/12/2003 |
10,500,000.00 |
Bank of Baroda |
Bhadra Branch,, Opp. Dinbai Tower, Lal Darwaja, Ahmedabad, Gujarat - 380001, India |
- |
*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.61.97 |
|
|
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
33 |
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.