MIRA
INFORM REPORT
|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
CONCORD BIOTECH LIMITED (w.e.f.16.02.2001) |
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Formerly Known
As : |
CONCORD PHARMACEUTICALS LIMITED (w.e.f.24.09.1985) SERVOMED PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
1482-86, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.11.1984 |
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Com. Reg. No.: |
04-007440 |
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Capital
Investment / Paid-up Capital : |
Rs. 92.052
Millions |
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CIN No.: [Company Identification
No.] |
U24230GJ1984PLC007440 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00391G |
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PAN No.: [Permanent Account No.] |
AAACC8514G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in research and development,
manufacturing, marketing and selling of active pharmaceutical ingredients,
semi-synthesis and synthesis based products. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established and reputed company having fine track
record. Financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. 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 slow 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.
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 DECLINED BY
|
Name : |
Mr. Mayur Kansara |
|
Designation : |
Logistics Department |
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Contact No.: |
91-79-26937681 |
|
Date : |
02.10.2014 |
LOCATIONS
|
Registered Office/ Factory : |
1482-86, Trasad Road, Dholka, Ahmedabad - 387810, Gujarat, India |
|
Tel. No.: |
91-2714-222604/ 221904 |
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Mobile No.: |
91-7926937681 [Mr. Vishal] |
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Fax No.: |
91-2714-222504 |
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E-Mail : |
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Website : |
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Head Office : |
302, Sakar III, Opposite Old Gujarat High Court, Off ITO Circle,
Ahmedabad - 380014, Gujarat, India |
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Tel. No.: |
91-79-27544998 |
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Fax No.: |
91-79-27540802 |
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E-Mail : |
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Corporate Office 1 : |
B – 1002, Safal Pegasus, 10th Floor, Near Prahladnagar
Garden, 100 Ft Road, Satellite Road, Ahmedabad – 380015, Gujarat, India |
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Tel. No.: |
91-79-40321179 |
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Corporate Office 2 : |
403, 4’th Floor, Iscon Elegance, Prahaladnagar Cross Road, S.G. Highway, Ahmedabad - 380015, Gujarat, India |
DIRECTORS
AS ON 14.08.2013
|
Name : |
Mr. Sudhir Jairam Vaid |
|
Designation : |
Managing Director |
|
Address : |
99, Basant Bahar, Opposite Sterling City, Bopal, Ahmedabad – 380058,
Gujarat, India |
|
Date of Birth/Age : |
03.09.1952 |
|
Qualification : |
B.Sc.(Microbiology) |
|
Experience : |
37 Years |
|
Date of Appointment : |
14.02.2011 |
|
PAN No.: |
ABVPV9184E |
|
DIN No.: |
00055967 |
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|
|
|
Name : |
Mr. Ankur Sudhir Vaid |
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Designation : |
Whole Time Director |
|
Address : |
99, Basant Bahar, Opposite Sterling City, Bhopal, Ahmedabad – 380058,
Gujarat, India |
|
Date of Birth/Age : |
14.04.1982 |
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Qualification : |
M.B.A |
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Date of Appointment : |
01.09.2011 |
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PAN No.: |
ADWPV0192K |
|
DIN No.: |
01857225 |
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|
Name : |
Mr. Ravi Narendranath Kapoor |
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Designation : |
Director |
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Address : |
202, Pravesh 10, Mahadev Nagar Society, Sardar Patel Road, Ahmedabad –
380014, Gujarat, India |
|
Date of Birth/Age : |
25.07.1963 |
|
Date of Appointment : |
15.12.2003 |
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PAN No.: |
ABJPK1504D |
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DIN No.: |
00003847 |
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|
Name : |
Mr. Rajiv Ambrish Agarwal |
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Designation : |
Director |
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Address : |
Chamaria Niwas, 3rd Floor, 41, Mahant Road, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
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Date of Birth/Age : |
28.03.1971 |
|
Date of Appointment : |
30.09.2009 |
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DIN No.: |
00379990 |
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|
Name : |
Mr. Harcharan Mohan Singh |
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Designation : |
Director |
|
Address : |
10, Waterloo Crt, Thornhill, On – L3T6L9 |
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Date of Birth/Age : |
19.05.1949 |
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Date of Appointment : |
14.09.2010 |
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DIN No.: |
02852915 |
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|
Name : |
Mr. Utpal Hemendra Sheth |
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Designation : |
Director |
|
Address : |
2901, 29th Floor,
B Wing, Beaumonde, A.S. Marathe Marg PBD, Mumbai - 400025, Maharashtra, India
|
|
Date of Birth/Age : |
20.06.1971 |
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Qualification : |
B.Com Grade CWA |
|
Date of Appointment : |
14.09.2010 |
|
DIN No.: |
00081012 |
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|
|
|
Name : |
Mr. Satish Khanna |
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Designation : |
Director |
|
Address : |
Flat No.71/A/71B, Royal Accord III, Lokhandwala Complex, Andheri
(West), Mumbai – 400058, Maharashtra, India |
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Date of Birth/Age : |
07.10.1953 |
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Date of Appointment : |
30.09.2011 |
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DIN No.: |
01827559 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash Sajnani |
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Designation : |
Company Secretary |
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Address : |
Flat No.6, 2nd Floor, Suryarath Flats B/H, |
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Date of Birth/Age : |
05.06.1971 |
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Date of Appointment : |
15.02.2004 |
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PAN No.: |
AHHPS5622G |
|
Name : |
Mr. Mayur Kansara |
|
Designation : |
Logistics Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.08.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 14.08.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
5.57 |
|
Bodies
corporate |
10.63 |
|
Directors
or relatives of directors |
42.14 |
|
Other
top fifty shareholders |
41.66 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in research and development,
manufacturing, marketing and selling of active pharmaceutical ingredients,
semi-synthesis and synthesis based products. |
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Products/ Services : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management. |
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Bankers : |
· Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad - 380006, Gujarat, India · Citibank N. A., Kalapurnam, Main C.G. Road, Navarngpura,, Ahmedabad - 380009, Gujarat, India · UTI Bank Limited, Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
NOTE : Short Term
Borrowings : Cash credit facility aggregating to Rs. 49.731 Millions (As at 31st March 2013 Rs. 36.158 Millions) is secured by exclusive first charge over the entire current assets of the Company (both present and future) and extension of charge over the Fixed assets of the company excluding vehicles, and corporate office. The cash credit carries interest rate of base rate plus 2% p.a. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Heritage', 3rd Floor, Near Gujarat Vidhyapith, Opposite
Ashram Road, Ahmedabad – 380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,205,192 |
Equity Shares |
Rs. 10/- each |
Rs. 92.052
Millions |
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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 |
92.052 |
46.026 |
46.026 |
|
(b) Reserves & Surplus |
2172.643 |
1809.155 |
1416.925 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2264.695 |
1855.181 |
1462.951 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
102.570 |
87.519 |
73.907 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.738 |
2.787 |
5.450 |
|
Total Non-current
Liabilities (3) |
105.308 |
90.306 |
79.357 |
|
|
|
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|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
49.731 |
36.158 |
65.899 |
|
(b)
Trade payables |
153.843 |
90.320 |
69.511 |
|
(c)
Other current liabilities |
39.293 |
22.829 |
35.758 |
|
(d) Short-term
provisions |
136.773 |
126.206 |
71.477 |
|
Total Current
Liabilities (4) |
379.640 |
275.513 |
242.645 |
|
|
|
|
|
|
TOTAL |
2749.643 |
2221.000 |
1784.953 |
|
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|
|
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|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
987.340 |
815.806 |
691.828 |
|
(ii)
Intangible Assets |
0.000 |
0.394 |
2.929 |
|
(iii)
Capital work-in-progress |
80.177 |
39.680 |
144.168 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.564 |
5.564 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
54.919 |
19.989 |
37.733 |
|
(e) Other
Non-current assets |
2.238 |
2.061 |
1.897 |
|
Total Non-Current
Assets |
1130.238 |
883.494 |
878.555 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
20.000 |
20.164 |
|
(b)
Inventories |
394.085 |
343.642 |
236.643 |
|
(c)
Trade receivables |
1003.544 |
854.346 |
548.307 |
|
(d) Cash
and cash equivalents |
26.741 |
15.333 |
10.417 |
|
(e)
Short-term loans and advances |
105.846 |
20.809 |
33.987 |
|
(f) Other
current assets |
89.189 |
83.376 |
56.880 |
|
Total
Current Assets |
1619.405 |
1337.506 |
906.398 |
|
|
|
|
|
|
TOTAL |
2749.643 |
2221.000 |
1784.953 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2048.162 |
1649.116 |
1355.997 |
|
|
|
Other Income |
28.257 |
53.110 |
25.784 |
|
|
|
TOTAL (A) |
2076.419 |
1702.226 |
1381.781 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
513.427 |
368.287 |
307.136 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(25.250) |
(25.381) |
(57.272) |
|
|
|
Employee benefit expense |
155.729 |
134.444 |
108.831 |
|
|
|
Other expenses |
550.622 |
411.590 |
340.695 |
|
|
|
TOTAL (B) |
1194.528 |
888.940 |
699.390 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
881.891 |
813.286 |
682.391 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.136 |
1.525 |
3.203 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
876.755 |
811.761 |
679.188 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
114.286 |
101.391 |
89.687 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
762.469 |
710.370 |
589.501 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
218.335 |
216.505 |
171.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
544.134 |
493.865 |
417.830 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1052.693 |
600.598 |
811.445 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
153.158 |
129.911 |
24.789 |
|
|
|
Stores & Spares |
7.590 |
2.543 |
3.058 |
|
|
|
Capital Goods |
47.826 |
8.281 |
55.280 |
|
|
TOTAL IMPORTS |
208.574 |
140.735 |
83.127 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
59.11 |
53.65 |
90.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
26.21 |
29.01 |
30.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
37.23 |
43.08 |
43.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.62 |
32.65 |
35.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.38 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02 |
0.02 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.27 |
4.85 |
3.74 |
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 |
46.026 |
46.026 |
92.052 |
|
Reserves & Surplus |
1416.925 |
1809.155 |
2172.643 |
|
Net
worth |
1462.951 |
1855.181 |
2264.695 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
65.899 |
36.158 |
49.731 |
|
Total
borrowings |
65.899 |
36.158 |
49.731 |
|
Debt/Equity
ratio |
0.045 |
0.019 |
0.022 |
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) |
|
Revenue from operations |
1355.997 |
1649.116 |
2048.162 |
|
|
|
21.616 |
24.198 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
1355.997 |
1649.116 |
2048.162 |
|
Profit/(Loss) After Tax |
417.830 |
493.865 |
544.134 |
|
|
30.81% |
29.95% |
26.57% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBTS : NOT AVAILABLE
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90099613 |
31/01/2014 * |
160,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLE, LAW G |
B97745095 |
* Date of charge modification
CORPORATE INFORMATION
The Company is a public company domiciled in India and incorporated under the provisions of Companies Act, 1956. The Company is engaged in research and development, manufacturing, marketing and selling of active pharmaceutical ingredients, with focus on the fermentation, semi-synthesis and synthesis based products.
OPERATIONS:
Company focus on new products has benefited it. It is continuing its endeavor to identify and develop new products and with support of the Research and development team Company and accordingly has introduced new products during the year and is hopeful of introducing few new products in the current financial year.
Company’s income from operation has grown to Rs. 1993 Million from Rs. 1606 million which is around 24 % higher from the previous year.
FIXED ASSETS:
· Land
Buildings
Office
building
Factory
building
Plant
and equipment
Factory
equipments
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
Computer
software
Know-how
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. 61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs. 77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.