MIRA INFORM REPORT
|
Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADLER MEDIEQUIP PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sushrut House, Survey No. 288, Next to MIDC Hinje, At Mann, Taluka
Mulsi, Pune – 411057, Maharashtra |
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|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
26.06.1992 |
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|
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|
Com. Reg. No.: |
11-067454 |
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Capital
Investment / Paid-up Capital : |
Rs.3.065 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29297MH1992PTC067454 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Medical Devices. |
|
|
|
|
No. of Employees
: |
190 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 establishment company having satisfactory track record. General financial position of the company seems to be sound and healthy.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. 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 PARTED BY
|
Name : |
Mr. Ajit |
|
Designation : |
Account Department |
|
Contact No.: |
91-20-66520700 |
|
Date: |
06.10.2014 |
LOCATIONS
|
Registered Office : |
Sushrut House, Survey No. 288, Next to MIDC Hinje, At Mann, Taluka
Mulsi, Pune – 411057, Maharashtra, India |
|
Tel. No.: |
91-20-66520700 |
|
Fax No.: |
91-20-66520800 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory : |
A-1, MIDC, Sadavali (Devrukh) Taluka Sangameshwar, District Ratnagiri
– 415804, Maharashtra, India |
|
Tel. No.: |
91-2354-240179 |
|
Fax No.: |
91-2354-240336 |
DIRECTORS
|
Name : |
Mr. Raman Gandotra |
|
Designation : |
Additional director |
|
Address: |
B-2/501 Uniworld City, Sector 30 and 41, Gargaon - 122002,
Haryana, India |
|
Date of Appointment: |
30.10.2013 |
|
DIN No.: |
02149786 |
|
|
|
|
Name : |
Mr. Nikunj Kishor Shah |
|
Designation : |
Additional director |
|
Address: |
C/8, Sai Ashirwad Co-operative Housing Society Limited, Nahar Nagar, Near Liberty Garden Malad (West),, Mumbai, 400064, Maharashtra, India |
|
Date of Appointment: |
30.10.2013 |
|
DIN No.: |
02858411 |
KEY EXECUTIVES
|
Name : |
Mr. Ajit |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS
AS ON 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Pitre Vasant Vimal |
|
14000 |
|
Pitre Manohar Vasant |
|
14000 |
|
Pitre Vasant Ajay |
|
163300 |
|
Pitre Ajay Bharati |
|
70200 |
|
Vasant Pitre (HUF) |
|
10000 |
|
Ajay Pitre (HUF) |
|
5000 |
|
Pitre Ajay Varun |
|
15000 |
|
Pitre Ajay Anuja |
|
15000 |
|
|
|
|
|
Total |
|
306500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 24.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Medical Devices. |
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Exports : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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GENERAL INFORMATION
|
No. of Employees : |
190 (Approximately) |
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Bankers : |
· State Bank of India, Commercial Branch, Vile Parle (East), Mumbai - 400057, Maharashtra, India · Bank of Maharashtra, Tilak Road Branch, Sadashiv Peth, Pune - 411030, Maharashtra, India · Janata Sahakari Bank Limited, Vile Parle (East) Branch, Mumbai - 400057, Maharashtra, India |
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Facilities : |
NOTES: Long Term Borrowings: · Vehicle Loan is secured against the designated vehicle and repayable in monthly EMIs for 36 months · Term Loan from Bank of Maharashtra is secured against Fixed Assets of the Company with additional personal guarantees from two of the Directors. The term loan is for 5 years with monthly installment plus interest thereon. Short Term Borrowings: ·
Cash Credit Loans are secured by hypothecation
of present and future stock of raw material, stock-in-trade, finished goods,
Book Debts, receivables etc. with additional security in terms of personal
guarantees from two of the Directors. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
GPS and Associates Chartered Accountants |
|
Address : |
A-1, Sindhi Niwas, Sitaladevi Temple Road, Mahim, Mumbai – 400016,
Maharashtra, India |
|
PAN No.: |
AADFG4422H |
|
|
|
|
Enterprise over
which key managerial personnel are able to exercise significant influence: |
· Adler Mediequip Private Limited · Ajay Pitre Properties · Pitre Foundation · Credar – Hospitality · Clariance IT Solutions Private Limited |
CAPITAL STRUCTURE
AS ON 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
306500 |
Equity Shares |
Rs. 10/- each |
Rs.3.065 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.065 |
3.065 |
3.065 |
|
(b) Reserves & Surplus |
89.081 |
79.869 |
68.916 |
|
(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) |
92.146 |
82.934 |
71.981 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
65.700 |
51.872 |
26.682 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
65.700 |
51.872 |
26.682 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
1.979 |
7.656 |
|
(b) Trade
payables |
23.401 |
22.053 |
29.093 |
|
(c) Other current
liabilities |
21.498 |
17.636 |
14.737 |
|
(d) Short-term
provisions |
0.000 |
3.384 |
2.689 |
|
Total Current
Liabilities (4) |
44.899 |
45.052 |
54.175 |
|
|
|
|
|
|
TOTAL |
202.745 |
179.858 |
152.838 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
43.464 |
51.461 |
43.671 |
|
(ii)
Intangible Assets |
0.346 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.433 |
0.546 |
|
(c) Deferred tax assets (net) |
4.427 |
3.065 |
3.422 |
|
(d) Long-term Loan and Advances |
12.536 |
9.013 |
10.307 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
60.773 |
63.972 |
57.946 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
28.636 |
14.761 |
8.753 |
|
(b) Inventories |
41.458 |
42.304 |
37.280 |
|
(c) Trade
receivables |
46.665 |
50.130 |
39.263 |
|
(d) Cash
and cash equivalents |
24.070 |
7.121 |
6.125 |
|
(e)
Short-term loans and advances |
1.106 |
1.515 |
3.408 |
|
(f) Other
current assets |
0.037 |
0.055 |
0.063 |
|
Total
Current Assets |
141.972 |
115.886 |
94.892 |
|
|
|
|
|
|
TOTAL |
202.745 |
179.858 |
152.838 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
184.421 |
175.427 |
159.782 |
|
|
|
Other Income |
2.724 |
0.743 |
1.286 |
|
|
|
TOTAL (A) |
187.145 |
176.170 |
161.068 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
48.147 |
40.694 |
48.405 |
|
|
|
Purchases of Stock in Trade |
20.175 |
14.862 |
8.328 |
|
|
|
Changes in Inventories of Finished Goods, Stock in trade |
(1.471) |
(3.207) |
(7.828) |
|
|
|
Employee Benefits Expense |
23.208 |
21.522 |
19.487 |
|
|
|
Other Expenses |
66.802 |
64.239 |
62.736 |
|
|
|
Short provision of Tax in earlier year |
0.000 |
0.000 |
0.783 |
|
|
|
Gain/Loss on Settlement Prior Period Items |
0.000 |
0.000 |
(0.494) |
|
|
|
Profit / (Loss) on redemption / restatement of Mutual Funds |
0.000 |
0.000 |
0.017 |
|
|
|
Sale of Assets |
0.510 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
157.371 |
138.110 |
131.434 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
29.774 |
38.060 |
29.634 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.946 |
5.623 |
4.211 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.828 |
32.437 |
25.423 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
13.612 |
13.461 |
11.247 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.216 |
18.976 |
14.176 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
1.400 |
4.640 |
0.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.617 |
14.336 |
13.617 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
36.092 |
32.640 |
24.212 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
7.500 |
2.500 |
|
|
|
Proposed Dividend |
0.000 |
2.913 |
2.299 |
|
|
|
Corporate Dividend Tax |
0.000 |
0.472 |
0.390 |
|
|
BALANCE CARRIED
TO THE B/S |
44.709 |
36.092 |
32.640 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.11 |
46.77 |
44.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.60
|
8.14 |
8.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.91
|
10.82 |
8.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.64
|
10.76 |
9.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.23 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71
|
0.65 |
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.16
|
2.57 |
1.75 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
3.065 |
3.065 |
3.065 |
|
Reserves & Surplus |
68.916 |
79.869 |
89.081 |
|
Net worth |
71.981 |
82.934 |
92.146 |
|
|
|
|
|
|
long-term borrowings |
26.682 |
51.872 |
65.700 |
|
Short term borrowings |
7.656 |
1.979 |
0.000 |
|
Total borrowings |
34.338 |
53.851 |
65.700 |
|
Debt/Equity ratio |
0.477 |
0.649 |
0.713 |
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 |
159.782 |
175.427 |
184.421 |
|
|
|
9.791 |
5.127 |
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 |
159.782 |
175.427 |
184.421 |
|
Profit |
13.617 |
14.336 |
8.617 |
|
|
8.52% |
8.17% |
4.67% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBT: 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 |
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 |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
No |
|
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 |
No |
NOTE:
The Registered Office of the company has been shifted from At Muradpur,
Post Hativtal Sangam, Ratnagiri – 415610, Maharashtra, India to the present
address w.e.f. 12.12.2007
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loan from
Directors and Shareholders |
65.700 |
37.450 |
|
Deferred liabilities (from DCK Limited) |
0.000 |
2.048 |
|
Loan from Department of Biotechnology (DBT) |
0.000 |
5.000 |
|
|
|
|
|
Total |
65.700 |
44.498 |
NOTES:
Long Term Borrowings:
· Deferred liabilities are towards the Sales Tax Deferment scheme of State Government of Maharashtra. Which has been paid in full during the year.
· Loan from Department of Biotechnology is for a specific project of Research and Development. This Loan is a soft loan as per the agreement signed with DBT within nominal interest to be repaid only after terms of the project. However, as on balance sheet date the company decided to prepay this loan subsequently, entire loan has been paid before signing the financials.
PERFORMANCE OF THE COMPANY:
Net Turnover
Subject’s turnover has increased from
Rs.175.400 Millions to Rs.184.400 Millions showing growth of 5.13%.
Other Income
The other income has incurred from Rs.0.743 Million
in the previous year to Rs.2.724 Millions in the current year. This is mainly
attributable to the substantial increase in dividend income on mutual funds
from Rs.0.412 Million in the previous year to Rs.2.175 Millions in the current
year. Subject had kept the excess liquidity in short term investments
considering the investment needs of the company.
Operating Profit (PBDIT)
The net profit of subject before interest,
depreciation and taxes has decreased by 20.57%. the reduction in profitability
is attributable towards inflationary trend and thereby increases in input cost.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10121827 |
24/10/2013
* |
16,000,000.00 |
BANK
OF MAHARASHTRA |
TILAK
ROAD BRANCH, SADASHIV PETH, PUNE -
411030, MAHARASHTRA, INDIA |
B87903613 |
* Date of charge modification
PRESS RELEASE:
SMITH AND NEPHEW
TO BUY ADLER MEDIEQUIP AND SUSHRUT SURGICALS
03.05.2013
Smith and Nephew Plc, the London listed
firm engaged in medical technology business has announced to acquire Adler
Mediequip Private Limited and with it, the brands and assets of Sushrut Surgicals Private Limited, producer of orthopaedic trauma
products.
The acquisition will give Smith &
Nephew a well-established platform to provide and develop products for the
mid-tier market in India and for export as well as entry point to India's
trauma segment.
The Sushrut-Adler Group was born in 1973
with the incorporation of Sushrut Surgicals Private Limited The group company,
Adler Mediequip, was set up in 1993 with the objective of building on Sushrut’s
experience in orthopaedic device business and bringing world-class orthopaedic
medical devices to India.
At present, Adler Mediequip is the
exclusive manufacturing arm for the group's operations, with Sushrut Surgicals
being the marketing arm.
It current portfolio of devices can be
divided into three broad clinical areas viz. ‘traumatology’, ‘spinal surgery’
and ‘reconstructive orthopaedic surgery’. In each of these areas, the group has
a comprehensive range of implantable devices and complementary instrumentation.
Adler employs 116 people, while
approximately 50 Sushrut employees (which include sales force that directly
supports the Adler business) will also transfer as part of the arrangement.
Smith and Nephew is engaged global medical
technology business with leadership positions in Orthopaedic Reconstruction,
Advanced Wound Management, Sports Medicine and Trauma. It has around 10,500
employees and a presence in more than 90 countries.
The acquisition of trauma business is a
part Smith & Nephew’s expansion of its woundcare and minimally invasive
surgery offerings into emerging markets, in order to offset dwindling sales in
mature European economies such as Germany.
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Factory Building
· Plant and Machinery
· Lab Equipments
· Dies and Fixtures
· Air Conditioner
· Electrical Installation – Office
· Furniture and Fixtures
· Office Equipments
· Bicycle
· Computer
· Vehicle
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.61.36 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.