MIRA
INFORM REPORT
|
Report Date : |
06.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SETCO CHEMICALS (INDIA) PRIVATE LIMITED (w.e.f. 28.06.1994) |
|
|
|
|
Formerly Known
As : |
SETCO TILES PRIVATE LIMITED |
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|
|
|
Registered Office : |
Sr. No. 72, Plot No. 64 to 73, Dewan and Shah Industrial Estate, Naliv
Pada, Vasai (East), Thane – 401 208, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2013 |
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|
|
Date of Incorporation : |
03.06.1985 |
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|
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Com. Reg. No.: |
11-036470 |
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|
Capital
Investment/ Paid-up Capital: |
Rs. 20.000
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U26933MH1985PTC036470 |
|
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS28661D |
|
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business : |
Design, Development, Manufacture and Supply of All Types of Printing
Inks. |
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|
No. of Employees: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 company’s healthy financial risk profile marked by
sound liquidity position and fair profitability levels of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
MANAGEMENT NON – COOPERATIVE (91-250-3294750)
LOCATIONS
|
Registered Office/Factory : |
Sr. No. 72, Plot No. 64 to 73, Dewan and Shah Industrial Estate, Naliv
Pada, Vasai (East), Thane – 401 208, Maharashtra, India |
|
Tel. No.: |
91-250-3294750 / 51 / 3094750 |
|
Fax No.: |
91-250-2480806 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Jayant Hariprasad Solanki |
|
Designation : |
Director |
|
Address : |
25A, |
|
Date of Birth/Age : |
28.04.1943 |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
00096850 |
|
|
|
|
Name : |
Mr. Yogesh Hariprasad Solanki |
|
Designation : |
Director |
|
Address : |
C/302, Ashish Building, Tirupati Apartments, |
|
Date of Birth/Age : |
20.02.1949 |
|
Date of Appointment : |
01.05.1998 |
|
DIN No.: |
00096900 |
|
Name : |
Mrs. Sangeeta Jayant Solanki |
|
Designation : |
Director |
|
Address : |
25A, |
|
Date of Birth/Age : |
17.10.1945 |
|
Date of Appointment : |
01.12.2000 |
|
DIN No.: |
00096919 |
|
|
|
|
Name : |
Mrs. Rekha Yogesh Solanki |
|
Designation : |
Director |
|
Address : |
C/302, Ashish Building, Tirupati Apartments, |
|
Date of Birth/Age : |
06.06.1952 |
|
Date of Appointment : |
01.12.2000 |
|
DIN No.: |
00096949 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Jayant H Solanki HUF |
7000 |
3.50 |
|
Jayant H Solanki Jointly with Sangeeta |
30000 |
15.00 |
|
Tapan J Solanki Jointly with Vandana |
32000 |
16.00 |
|
Sangeeta J Solanki Jointly with Jayant |
20000 |
10.00 |
|
Vandana T Solanki Jointly with Tapan |
11000 |
5.50 |
|
Yogesh H Solanki Jointly with Rekha |
33000 |
16.50 |
|
Rekha Y Solanki Jointly with Yogesh |
32000 |
16.00 |
|
Grishma Y Solanki Jointly with Yogesh |
15500 |
7.75 |
|
Reshma Y Solanki Jointly with Rekha |
15500 |
7.75 |
|
Yogesh H Solanki HUF |
4000 |
2.00 |
|
|
|
|
|
TOTAL
|
200000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20289139_MIRA%2006-Oct-2014_files/image002.gif)
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Design, Development, Manufacture and Supply of All Types of Printing
Inks. |
GENERAL INFORMATION
|
No. of Employees : |
More than 150 (Approximately) |
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Bankers : |
The Bassein Catholic Co-operative Bank Limited, Manickpur Branch, 1st
Floor, Lawrence Shopping Center, Manickpur, Vasai (West), Thane-401202,
Maharashtra, India |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
|
|
Name : |
Mayur M Zaveri Chartered Accountant |
|
Address : |
A-5, |
|
Tel No.: |
91-22-28902003 / 28952242 |
|
Pan No.: |
AAATZ1139K |
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|
|
|
Subsidiaries : |
Aquathane Chemicals Private Limited CIN No.:- U24100MH1998PTC113414 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
20.000 |
20.000 |
|
(b) Reserves &
Surplus |
|
204.997 |
157.356 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
224.997 |
177.356 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
69.891 |
18.595 |
|
(b) Deferred tax
liabilities (Net) |
|
0.747 |
0.351 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1.169 |
0.960 |
|
Total Non-current Liabilities
(3) |
|
71.807 |
19.906 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
121.936 |
102.530 |
|
(b) Trade payables |
|
131.727 |
103.676 |
|
(c) Other current
liabilities |
|
24.806 |
20.366 |
|
(d) Short-term provisions |
|
1.040 |
2.698 |
|
Total Current Liabilities
(4) |
|
279.509 |
229.270 |
|
|
|
|
|
|
TOTAL |
|
576.313 |
426.532 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
239.370 |
120.513 |
|
(ii) Intangible Assets |
|
0.053 |
0.071 |
|
(iii) Capital
work-in-progress |
|
3.999 |
4.763 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
6.116 |
12.982 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
6.426 |
8.009 |
|
(e) Other Non-current
assets |
|
1.034 |
1.401 |
|
Total Non-Current Assets |
|
256.998 |
147.739 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
98.078 |
92.398 |
|
(c) Trade receivables |
|
185.131 |
143.810 |
|
(d) Cash and cash
equivalents |
|
9.205 |
28.825 |
|
(e) Short-term loans and advances |
|
26.901 |
13.760 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
319.315 |
278.793 |
|
|
|
|
|
|
TOTAL |
|
576.313 |
426.532 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
20.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
134.759 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
154.759 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
82.979 |
|
|
2] Unsecured Loans |
|
|
6.110 |
|
|
TOTAL BORROWING |
|
|
89.089 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.521 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
244.369 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
122.723 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
12.954 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
62.135 |
|
|
Sundry Debtors |
|
|
111.186 |
|
|
Cash & Bank Balances |
|
|
19.486 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
73.106 |
|
Total
Current Assets |
|
|
265.913 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
93.619 |
|
|
Other Current Liabilities |
|
|
1.869 |
|
|
Provisions |
|
|
61.733 |
|
Total
Current Liabilities |
|
|
157.221 |
|
|
Net Current Assets |
|
|
108.692 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
244.369 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
679.585 |
594.531 |
409.918 |
|
|
Other Income |
8.704 |
3.388 |
1.390 |
|
|
TOTAL (A) |
688.289 |
597.919 |
411.308 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
504.824 |
429.539 |
285.941 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(9.473) |
(11.625) |
(1.206) |
|
|
Employees benefits
expense |
42.897 |
37.758 |
25.972 |
|
|
Other expenses |
45.397 |
45.159 |
30.819 |
|
|
TOTAL (B) |
583.645 |
500.831 |
341.526 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
104.644 |
97.088 |
69.782 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
20.059 |
12.262 |
6.512 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
84.585 |
84.826 |
63.270 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.268 |
13.446 |
8.089 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
69.317 |
71.380 |
55.181 |
|
|
|
|
|
|
|
Less |
TAX (H) |
21.676 |
23.212 |
18.282 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
47.641 |
48.168 |
36.899 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
128.835 |
86.846 |
21.354 |
|
|
TOTAL EARNINGS |
128.835 |
86.846 |
21.354 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
238.21 |
240.84 |
184.49 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.92
|
8.05 |
8.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.20
|
12.00 |
13.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.38
|
17.46 |
14.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.40 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.85
|
0.68 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.22 |
1.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
|
20.000 |
20.000 |
|
Reserves & Surplus |
|
157.356 |
204.997 |
|
Net worth |
|
177.356 |
224.997 |
|
|
|
|
|
|
long-term borrowings |
|
18.595 |
69.891 |
|
Short term borrowings |
|
102.530 |
121.936 |
|
Total borrowings |
|
121.125 |
191.827 |
|
Debt/Equity ratio |
|
0.683 |
0.853 |
%20PRIVATE%20LIMITED%20-%20289139_MIRA%2006-Oct-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
409.918 |
594.531 |
679.585 |
|
|
|
45.037 |
14.306 |
%20PRIVATE%20LIMITED%20-%20289139_MIRA%2006-Oct-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
409.918 |
594.531 |
679.585 |
|
Profit |
36.899 |
48.168 |
47.641 |
|
|
9.00% |
8.10% |
7.01% |
%20PRIVATE%20LIMITED%20-%20289139_MIRA%2006-Oct-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
16.248 |
10.851 |
NA
|
|
|
|
|
|
|
Total |
16.248 |
10.851 |
NA
|
|
Sr. No. |
Check List by
Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10370517 |
25/07/2012 |
105,000,000.00 |
THE BASSEIN CATHOLIC
CO-OP BANK LIMITED |
MANICKPUR BRANCH, 1ST
FLOOR, LAWRENCE SHOPPING, CENTER, MANICKPUR , VASAI (WEST), THANE - 401202, MAHARASHTRA, INDIA |
B45662319 |
|
2 |
10257644 |
05/12/2010 |
588,000.00 |
BASSEIN CATHOLIC CO-OPERATIVE
BANK LIMITED |
MANICKPUR BRANCH,
LAWRENCE SHOPPING CENTER, 1ST F |
B00394122 |
|
3 |
10256904 |
13/11/2010 |
3,000,000.00 |
BASSEIN CATHOLIC
CO-OPERATIVE BANK LIMITED |
MANICKPUR BRANCH,
LAWRENCE SHOPPING CENTER, 1ST F |
A99918708 |
|
4 |
10173809 |
14/08/2009 |
15,000,000.00 |
BASSEIN CATHOLIC
CO-OPERATIVE BANK LIMITED |
MANICKPUR BRANCH, LAWRENCE
SHOPPING CENTER, 1ST F |
A68481688 |
|
5 |
10155743 |
21/04/2009 |
15,000,000.00 |
THE BASSEIN CATHOLIC
CO-OP BANK LTD |
MANICKPUR BRANCH,
LAWRENCE SHOPPING CENTER, 1ST F |
A61123725 |
|
6 |
10198209 |
06/03/2012 * |
86,000,000.00 |
THE BASSEIN CATHOLIC
CO-OP BANK LIMITED |
MANICKPUR BRANCH,
LAWRENCE SHOPPING CENTER, 1ST F |
B35686633 |
|
7 |
10119593 |
20/08/2008 |
4,500,000.00 |
BASSEIN CATHOLIC
CO-OPERATIVE BANK LIMITED |
MANICKPUR BRANCH, 1ST FLOOR,
LAWRENCE SHOPPING, CENTER, MANICKPUR , VASAI (WEST), THANE - 401202, MAHARASHTRA, INDIA |
A44195543 |
|
8 |
10029866 |
27/09/2006 |
2,000,000.00 |
BASSEIN CATHOLIC
CO-OPERATIVE BANK LIMITED |
MANICKPUR BRANCH, 1ST FLOOR,
LAWRENCE SHOPPING, CENTER, MANICKPUR , VASAI (WEST), THANE - 401202, MAHARASHTRA, INDIA |
A06181192 |
|
9 |
90155320 |
07/03/2012 * |
60,000,000.00 |
BASSEIN CATHOLIC
CO-OPERATIVE BANK LIMITED |
MANICKPUR BRANCH,
LAWRENCE SHOPPING CENTER, 1ST F |
B35692177 |
|
10 |
90157809 |
07/03/2012 * |
60,000,000.00 |
BASSEIN CATHOLIC
CO-OPERATIVE BANK LIMITED |
MANICKPUR BRANCH,
LAWRENCE SHOPPING CENTER, 1ST F |
B35687144 |
* Date of charge modification
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Short Term
Borrowings |
|
|
|
From Directors |
0.935 |
0.935 |
|
From Shareholders |
0.275 |
0.275 |
|
TOTAL
|
1.210 |
1.210 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical Fittings
·
Furniture and Fixtures
·
Office Equipments
·
Computer
·
Vehicles
·
Intangible Assets
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 : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
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 |
|
48 |
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.