MIRA
INFORM REPORT
|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
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Name : |
AVERY DENNISON ( |
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Registered
Office : |
A-38, Kailash Colony, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.12.1995 |
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Com. Reg. No.: |
55-074475 |
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Capital
Investment / Paid-up Capital : |
Rs.476.507
Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1995PTC074475 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELA05957A |
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PAN No.: [Permanent Account No.] |
AAACA6163D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture and trading of self-adhesive paper, films and
labels. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 4700000 |
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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 : |
Subject is an established company having moderate track record. Company has incurred loss from its operation in the year 2014. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-80-71370400)
LOCATIONS
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Registered Office : |
A-38, Kailash Colony, New Delhi – 110048, India |
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Tel No.: |
Not Available |
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Mobile No.: |
91-9920869666 (Mr. Parag) 91-9871008251 (Mr. Mahijit Pal) 91-9871998060 (Mr. Manish) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
421/422, Shrikant Chambers, Sion Trombey Road, Next to R.K. Studio,
Chembur, Mumbai – 400071, Maharashtra,
India |
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Tel No.: |
91-22-67554625 / 31080968 / 67554626 |
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Fax No.: |
91-22-67554623 |
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Corporate Office 2 / Factory: |
Narsinghpur Industrial Area, 6 Kilometer Stone, Delhi-Jaipur Highway,
Gurgaon – 122001, Haryana, India |
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Tel. No.: |
91-124-4351200/ 2215581/ 582/ 583 |
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Fax No.: |
91-124-2215591/ 592 |
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Area : |
6 Acres |
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Location : |
Industrial |
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Head Office 1 : |
204-206, Tolstoy House, 15 Tolstoy Marg, Connaught Place, New Delhi –
110001, India |
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Tel. No.: |
91-11-23714408/ 10 |
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E-Mail : |
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Area : |
2350 sq. ft. |
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Location : |
Leased |
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Head Office 2 : |
Plot No.6B, Kiadbi Industrial Area, Peenya, 1st Phase,
Bangalore – 560058, Karnataka, India |
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Tel No.: |
91-80-41370400 |
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Branch Office : |
90/91, 7th Main Road, III Phase, Peenya Industrial Area,
Bangalore – 560058, Karnataka, India |
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Tel No.: |
91-80-41370400 |
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Fax No.: |
91-80-41370600 |
DIRECTORS
|
Name : |
Mr. Anil Kumar Sharma |
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Designation : |
Whole-Time Director |
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Address : |
MF 11, Eldeco Mansionz, RWA, Sohna Road, Gurgaon – 122001, Haryana,
India |
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Date of Birth/ Age : |
06.10.1969 |
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Qualification : |
B.E. / B. Tech., MBA |
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Date of Appointment: |
10.02.2011 |
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PAN No.: |
ABAPS0242D |
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DIN No.: |
03161485 |
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Other Directorship:
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Name : |
Mr. Rishi Pardal |
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Designation : |
Whole-Time Director |
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Address : |
6A, 6th Floor, Lords Apartment, 94 Satyadev Avenue, MRC
Nagar, R.A. Puram, Chennai – 600028, Tamilnadu, India |
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Date of Birth/ Age : |
16.05.1973 |
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Qualification : |
Mgmt. Degree from IIIT |
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Date of Appointment : |
01.01.2011 |
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PAN No.: |
AIFPP2134F |
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DIN No.: |
02470061 |
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Other Directorship:
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Name : |
Mr. Satish Subramanian |
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Designation : |
Director |
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Address : |
B-403, Salapuria Splendor, 20 Near Colony, Off Old Airport Road, Bangalore
– 560017, Karnataka, India |
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Date of Birth/ Age : |
20.12.1970 |
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Qualification : |
B.Com. (Hons), MBA |
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Date of Appointment : |
30.09.2011 |
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PAN No.: |
AJPPS8117G |
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DIN No.: |
03630845 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Komandur Sanathana Krishnan Muralie |
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Designation : |
Secretary |
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Address : |
D/3, 3072, Vasant Kunj, New Delhi – 110070, India |
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Date of Birth/Age : |
20.05.1966 |
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Qualification : |
B.Com., AICWA, ACA, ACS |
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Date of Appointment : |
03.03.2000 |
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PAN No. : |
ABDPM0006G |
MAJOR SHAREHOLDERS
As on 09.08.2014
|
Names of Shareholders |
|
No. of Shares |
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Avery Dennison Corporation, USA |
|
21474466 |
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Avery Pacific LLC, USA |
|
216949 |
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Avery Dennison Central Europe GmbH, Germany |
|
10400000 |
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Paxar B V, The Netherlands |
|
10400000 |
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RVL Packaging Far East Limited, Hong Kong |
|
5159245 |
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Total |
|
47650660 |
Equity Share Break up (Percentage of Total Equity)
As on 09.08.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20289175%2007-Oct-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacture and trading of self-adhesive paper, films and
labels. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2011):
|
Details of
production |
U.O.M |
For the year ended 31.3.2011 |
|
I- Paper and
Films |
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Installed Capacity (Annual) |
Sq. mtrs. |
203,600,000 |
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Actual Production |
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|
1.Self Adhesive
Paper |
Sq. mtrs. |
131,391,593 |
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2.Self Adhesive
Film |
Sq. mtrs. |
26,718,786 |
|
II- Woven Labels |
|
|
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Installed Capacity (Annual) |
Numbers (Nos.) |
312,000,000 |
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Actual Production |
Numbers (Nos.) |
272,049,061 |
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III. Hand Tags |
|
|
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Installed Capacity (Annual) |
Numbers (Nos.) |
1,855,024,000 |
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Actual Production |
Numbers (Nos.) |
827,262,923 |
|
IV. Printed
labels |
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|
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Installed Capacity (Annual) |
Numbers (Nos.) |
463,000,000 |
|
Actual Production |
Numbers (Nos.) |
468,620,369 |
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V. Heat Transfer |
|
|
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Installed Capacity (Annual) |
Numbers (Nos.) |
202,800,000 |
|
Actual Production |
Numbers (Nos.) |
195,338,684 |
Note:
The installed
capacities, being a technical matter, are certified by management and have been
relied upon by the auditors *
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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|
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Bankers : |
·
American Express Bank Limited ·
Deutsche Bank, Tolstoy House, New Delhi, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
Delhi, India |
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PAN No.: |
AAAFB9852F |
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Ultimate Holding
Company: |
·
Avery Dennison Corporation |
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Subsidiaries of
ultimate holding company: |
· Avery Corp. · Avery Dennison R.I.S. Italia S.R.L. · Avery Dennison (China) Company Limited · Avery Dennison Retail Information Services (pty) Limited · Avery Dennison (Guangzhou) Company Limited · Avery Dennison Retail Information Services Honduras, S. De R.L. · Avery Dennison (Hong Kong) Limited · Avery Dennison Retail Information Services LLC · Avery Dennison (Kunshan) Company Limited · Avery Dennison Retail Information Services UK Limited · Avery Dennison (Malaysia) Sdn. Bhd. · Avery Dennison RFID Company · Avery Dennison (Suzhou) Company Limited · Avery Dennison R.I.S Iberia SL · Avery Dennison (Thailand) Limited · Avery Dennison R.I.S Taiwan Limited · Avery Dennison Belgie Bvba · Avery Dennison R.I.S Vietnam Company Limited · Avery Dennison Benelux Bvba · Avery Dennison Scandinavia Ab · Avery Dennison Bulgaria Eood · Avery Dennison Singapore (pte) Limited · Avery Dennison BV · Avery Dennison South Africa (Proprietary) Limited · Avery Dennison Central Europe Gmbh · Avery Dennison Tekstil Urunleri Sanayi Ve Ticaret Limited Sirketi · Avery Dennison Colombia S. A. · Collitex S.R.L. (Former Astria S.R.L.) · Avery Dennison (India) Private Limited Standalone Balance Sheet for period 01/04/2013 to 31/03/2014 · Avery Dennison Deutschland Gmbh · Dennison Manufacturing Company · Avery Dennison Do Brasil Limiteda. · P. T. Paxar Indonesia · Avery Dennison Egypt LLC · Paxar (China) Limited · Avery Dennison Etiket Ticaret Limited Sirketi · Aaxar Bangladesh Limited · Avery Dennison Finance Germany Gmbh · Paxar Far East Limited · Avery Dennison France S.A.S. · Paxar Pakistan (Private) Limited · Avery Dennison Group Singapore (pte) Limited · PT Avery Dennison Indonesia · Avery Dennison Gulf Fzco · Su Zhou Feng Yi Heng Ye Dye Company Limited. · Avery Dennison Hong Kong B.V. · Avery Dennison (Vietnam) Limited · Avery Dennison Korea Limited · Avery Dennison Australia pty Limited · Avery Dennison Lanka (Private) Limited · Avery Dennison Do Brasil LTDA · Avery Dennison Mauritius Limited · PT Avery Dennison Packaging Indonesia · Avery Dennison Ntp A. S. · Avery Dennison Peru S.R. L. · Avery Dennison R.I.S. France S. A. S. · Avery Dennison R.I.S. Iberia S.L. |
CAPITAL STRUCTURE
As on 09.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47650660 |
Equity Shares |
Rs.10/- each |
Rs.476.507 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47650660 |
Equity Shares |
Rs.10/- each |
Rs.476.507
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
476.507 |
476.507 |
476.507 |
|
(b) Reserves & Surplus |
704.501 |
708.232 |
856.745 |
|
(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) |
1,181.008 |
1,184.739 |
1,333.252 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
11.628 |
|
(b) Deferred tax liabilities (Net) |
7.836 |
20.137 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
47.251 |
42.864 |
34.509 |
|
Total Non-current Liabilities (3) |
55.087 |
63.001 |
46.137 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3,457.592 |
2,576.654 |
1,951.284 |
|
(b) Trade payables |
2,063.695 |
1,631.819 |
1,758.893 |
|
(c) Other current
liabilities |
223.385 |
152.256 |
121.714 |
|
(d) Short-term provisions |
29.448 |
20.710 |
14.891 |
|
Total Current Liabilities (4) |
5,774.120 |
4,381.439 |
3,846.782 |
|
|
|
|
|
|
TOTAL |
7,010.215 |
5,629.179 |
5,226.171 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1,685.560 |
1,819.478 |
1,861.755 |
|
(ii) Intangible Assets |
14.150 |
12.000 |
3.892 |
|
(iii) Capital
work-in-progress |
737.725 |
11.578 |
47.780 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.068 |
|
(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 |
305.017 |
213.129 |
205.387 |
|
(e) Other Non-current assets |
1.261 |
1.237 |
4.844 |
|
Total Non-Current Assets |
2,743.713 |
2,057.422 |
2,124.726 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1,353.141 |
1,117.194 |
1,001.104 |
|
(c) Trade receivables |
2,580.217 |
2,118.354 |
1,711.985 |
|
(d) Cash and cash
equivalents |
68.725 |
59.648 |
59.783 |
|
(e) Short-term loans and
advances |
264.419 |
276.561 |
298.013 |
|
(f) Other current assets |
0.000 |
0.000 |
0.560 |
|
Total Current Assets |
4,266.502 |
3,571.757 |
3,071.445 |
|
|
|
|
|
|
TOTAL |
7,010.215 |
5,629.179 |
5,196.171 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
FOR THE YEAR |
(1.659) |
(116.441) |
(21.957) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
576.973 |
693.414 |
715.371 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
575.314 |
576.973 |
693.414 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
1333.100 |
825.800 |
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(0.03) |
(2.44) |
(0.46) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.93 |
2.17 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.74 |
0.82 |
0.80 |
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 |
476.507 |
476.507 |
476.507 |
|
Reserves & Surplus |
856.745 |
708.232 |
704.501 |
|
Net
worth |
1333.252 |
1184.739 |
1181.008 |
|
|
|
|
|
|
long-term borrowings |
11.628 |
0.000 |
0.000 |
|
Short term borrowings |
1951.284 |
2576.654 |
3457.592 |
|
Total
borrowings |
1962.912 |
2576.654 |
3457.592 |
|
Debt/Equity
ratio |
1.472 |
2.175 |
2.928 |
%20PRIVATE%20LIMITED%20-%20289175%2007-Oct-2014_files/image004.gif)
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
|
|
|
Overdraft facilities from banks |
1677.592 |
1226.654 |
|
Working capital facilities from Bank |
1780.000 |
1350.000 |
|
Total |
3457.592 |
2576.654 |
Notes:
Overdraft facilities from banks carry interest ranging between 11%-13.5% p.a., computed on a daily basis on the actual amount utilized and are repayable on demand. These are covered by the corporate guarantee provided by Avery Dennison Corporation, USA.
Working Capital facilities from banks carry interest ranging between 9%-11.75% p.a., computed on a monthly basis on the actual amount utilized. These are covered by the corporate guarantee provided by Avery Dennison Corporation, USA.
COMPANY
OVERVIEW
The Company is a private limited company incorporated under the Companies Act, 1956. The Company is a downstream subsidiary of Avery Dennison Corporation USA. The Company is primarily engaged in manufacture and trading of self-adhesive paper, films and labels. The Company caters to both domestic and international markets.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90194318 |
29/08/2001 * |
11,500,000.00 |
The Bank Of Novascotia |
Banglore Branch; M G Road, Banglore, Karnataka - 560001, India |
- |
|
2 |
90194273 |
07/06/2002 * |
11,500,000.00 |
State Bank Of India |
Indusrial Finance Branch, Residency Road, Banglore, Karnataka - 560025, 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.61.75 |
|
UK Pound |
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
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 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
35 |
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.