MIRA
INFORM REPORT
|
Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMCOR FLEXIBLES INDIA PRIVATE LIMITED (w.e.f. 03.01.2011) |
|
|
|
|
Formerly Known
As : |
ALCAN INDIA PRIVATE LIMITED |
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Registered
Office : |
Level-6, Tower 3, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.12.2006 |
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Com. Reg. No.: |
11-166397 |
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Capital
Investment / Paid-up Capital : |
Rs.999.231 millions |
|
|
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|
CIN No.: [Company Identification
No.] |
U27203MH2006FTC166397 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA29188F |
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|
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PAN No.: [Permanent Account No.] |
AAGCA0510J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Aluminium Foils. |
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No. of Employees
: |
550 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by low reserve
position and loss incurred by the company during 2014. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go 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. Mukesh Dave |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9004391152 |
|
Date : |
29.10.2014 |
LOCATIONS
|
Registered Office / Sales Office 1 : |
Level-6, Tower 3, Equinox Business Park, CTS No. 83/1-19, off Bandra
Kurla Complex, LBS Marg, Kurla (West), Mumbai – 400070, Maharashtra, India |
|
Tel. No.: |
91-22-4008200 |
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Mobile No.: |
91-9004391152 (Mr. Mukesh Dave) |
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Fax No.: |
91-22-4008233 |
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E-Mail : |
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Website : |
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Area : |
10000 Sq. Ft. |
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Location : |
Rented |
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Sales Office 2 : |
6th Floor, Technopolis, Sector 54 DLF Golf Course Road,
Gurgaon 122002, Haryana, India |
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Tel. No.: |
91-124-4626331 |
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Fax No.: |
91-124-4626273 |
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Sales Office 3 : |
Also Located at : ·
Uttar Pradesh ·
Maharashtra |
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Factory 1 : |
Gat No 222 And 152A, Chakan-Talegaon Road, Mahalunge, Tal: Khed Dist,
Pune-410501, Maharashtra, India |
|
Tel No.: |
91-2135-259598 |
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Fax No.: |
91-2135-259271 |
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Factory 2 : |
Plot No. F1, Sector-7, IIE, SIDCUL Haridwar – 249403, Uttarakhand,
India |
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Tel No.: |
91-1334-239830 |
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Fax No.: |
91-1334-239456 |
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Factory 3 : |
Gat No. 119-123, Alandi-Markal Roa Village Dhanore, Taluka – Khed,
Pune – 412105, Maharashtra, India |
|
Tel No.: |
91-2135-232537 |
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|
|
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Branch Offices : |
Located At: ·
Bangalore ·
Hyderabad ·
Haridwar ·
Daman ·
Bandra |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Anant Madhav Gadre |
|
Designation : |
Director |
|
Address : |
Flat No. 102, Building 2b, Rajgiri, Siddhachal Complex, Off Pokharan
Road No. 2, Thane (West) – 400601, Maharashtra, India |
|
Date of Birth/Age : |
24.03.1965 |
|
Date of Appointment : |
07.02.2008 |
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PAN No.: |
ADJPG6740R |
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DIN No.: |
01963880 |
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|
|
|
Name : |
Mr. Sanjeev Kumar Dhiman |
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Designation : |
Director |
|
Address : |
19 Swaran Villa, Yogi Vihar Jwalapur,
Haridwar- 249407, Uttarakhand, India |
|
Date of Birth/Age : |
05.08.1971 |
|
Date of Appointment : |
27.09.2011 |
|
PAN No.: |
ABBPD3370L |
|
DIN No.: |
02796730 |
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|
|
|
Name : |
Mr. Andrew John Terry |
|
Designation : |
Director |
|
Address : |
No. 15, Lorong Selangat, Singapore, 358708 |
|
Date of Birth/Age : |
21.05.1969 |
|
Date of Appointment : |
15.10.2010 |
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DIN No.: |
03474186 |
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|
|
Name : |
Mr. Ralf Klaus Wunderlich |
|
Designation : |
Director |
|
Address : |
5 Woollerton Park, Woollerton Park,
Singapore 257513 |
|
Date of Birth/Age : |
24.03.1966 |
|
Date of Appointment : |
15.10.2010 |
|
DIN No.: |
03474198 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2014
|
Names of Shareholders |
No. of Shares |
|
Amcor Singapore Private Limited, Singapore |
99923059 |
|
Amcor Holdings (Australia) Pty Limited, Australia |
1 |
|
Total |
99923060 |
Equity Share Break up (Percentage of Total Equity)
AS ON 31.03.2014
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Foils. |
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Products : |
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Exports : |
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Products : |
Aluminium Foils |
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Countries : |
·
Algeria ·
South Africa ·
China ·
Thailand |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Lotte - China |
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Customers : |
Wholesalers and Manufacturers ·
Ranbaxy Laboratories Limited ·
Cipla Limited |
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No. of Employees : |
550 (Approximately) |
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Bankers : |
Standard Chartered Bank, Bandra Kurla Complex, Bandra East , Mumbai,
Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veersawarkar
Marg, Shivaji Park, Dadar (West), Mumbai – 400028, Maharashtra, India |
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PAN.: |
AAEFP5579P |
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Holding company
: |
·
Amcor Singapore Pte. Limited, Singapore |
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|
Ultimate Holding
company : |
·
Amcor Limited, Australia |
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Subsidiary
company : |
·
Uniglobe Packing Private Limited |
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|
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|
Fellow
Subsidiary company : |
·
Amcor Europe Group Management ·
Amcor Flexible Montreuil Bellay, France ·
Amcor Flexibles ANZ, Australia ·
Amcor Flexibles Bangkok Company Limited, Thailand ·
Amcor Flexibles China Company Limited, China ·
Amcor France SAS, France ·
Amcor Jinangyin Propack Packing Company Limited,
China ·
Amcor Packaging- Kruzlingen, AG, Germany ·
Amcor Packaging- Singen GMBH, Germany ·
Amcor Rigid Plastics India Private Limited, India PAN No. :AADCS6330D CIN No.: U25207PN1995PTC108220 ·
Amcor Singapore Pty. Limited, Singapore |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Rs. 10/- each |
Rs.1200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99923060 |
Equity Shares |
Rs. 10/- each |
Rs.999.231 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
999.231 |
999.231 |
877.504 |
|
(b) Reserves & Surplus |
309.155 |
309.372 |
(867.109) |
|
(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) |
1308.386 |
1308.603 |
10.395 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
66.667 |
133.333 |
200.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
150.000 |
0.000 |
|
(d) long-term provisions |
8.117 |
6.132 |
4.673 |
|
Total Non-current Liabilities (3) |
74.784 |
289.465 |
204.673 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
319.654 |
141.571 |
444.107 |
|
(b) Trade payables |
300.269 |
315.968 |
214.095 |
|
(c) Other current
liabilities |
256.204 |
282.662 |
111.141 |
|
(d) Short-term provisions |
5.844 |
4.682 |
3.985 |
|
Total Current Liabilities (4) |
881.971 |
744.883 |
773.328 |
|
|
|
|
|
|
TOTAL |
2265.141 |
2342.951 |
988.396 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
615.418 |
416.981 |
460.382 |
|
(ii) Intangible Assets |
2.113 |
5.659 |
10.759 |
|
(iii) Capital
work-in-progress |
6.564 |
1.384 |
0.735 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
668.618 |
668.619 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.705 |
26.457 |
23.932 |
|
(e) Other Non-current assets |
7.306 |
158.765 |
5.653 |
|
Total Non-Current Assets |
1331.724 |
1277.865 |
501.461 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
276.523 |
239.787 |
211.172 |
|
(c) Trade receivables |
303.336 |
253.280 |
173.911 |
|
(d) Cash and cash
equivalents |
184.951 |
486.821 |
32.371 |
|
(e) Short-term loans and
advances |
142.743 |
75.735 |
59.523 |
|
(f) Other current assets |
25.864 |
9.463 |
9.958 |
|
Total Current Assets |
933.417 |
1065.086 |
486.935 |
|
|
|
|
|
|
TOTAL |
2265.141 |
2342.951 |
988.396 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2460.126 |
1969.342 |
|
|
|
|
Other Income |
63.505 |
44.177 |
|
|
|
|
TOTAL (A) |
2523.631 |
2013.519 |
1754.857 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1992.162 |
1484.893 |
|
|
|
|
Purchases of Stock-in-Trade |
0.000 |
4.235 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(20.024) |
22.934 |
|
|
|
|
Employees benefits expense |
139.178 |
86.657 |
|
|
|
|
Other expenses |
286.543 |
219.835 |
|
|
|
|
TOTAL (B) |
2397.859 |
1818.554 |
1799.325 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
125.772 |
194.965 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
46.626 |
55.150 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
79.146 |
139.815 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
79.363 |
58.878 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(0.217) |
80.937 |
(44.468) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(0.217) |
80.937 |
(44.468) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Insurance claim Received |
0.000 |
0.702 |
|
|
|
|
Commission Earnings |
16.060 |
17.209 |
|
|
|
|
FOB Value of Export |
28.699 |
21.068 |
|
|
|
TOTAL EARNINGS |
44.759 |
38.979 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
547.842 |
439.731 |
|
|
|
|
Finished Goods |
0.000 |
4.235 |
|
|
|
|
Stores & Spares |
7.657 |
2.758 |
|
|
|
|
Capital Goods |
1.042 |
0.451 |
|
|
|
TOTAL IMPORTS |
556.541 |
447.175 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.00 |
0.81 |
(0.51) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(0.01) |
4.02 |
(2.53) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.01) |
4.11 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.01) |
4.84 |
(4.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.06 |
(4.28) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.30 |
0.21 |
61.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.43 |
0.63 |
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 |
877.504 |
999.231 |
999.231 |
|
Reserves & Surplus |
(867.109) |
309.372 |
309.155 |
|
Net
worth |
10.395 |
1308.603 |
1308.386 |
|
|
|
|
|
|
long-term borrowings |
200.000 |
133.333 |
66.667 |
|
Short term borrowings |
444.107 |
141.571 |
319.654 |
|
Total
borrowings |
644.107 |
274.904 |
386.321 |
|
Debt/Equity
ratio |
61.963 |
0.210 |
0.295 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Sales |
1754.857 |
2013.519 |
2523.631 |
|
|
|
14.740 |
25.334 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Sales |
1754.857 |
2013.519 |
2523.631 |
|
Profit |
(44.468) |
80.937 |
(0.217) |
|
|
(2.53%) |
4.02% |
(0.01%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
(Rs.
In Million)
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturity of Long Term Debt |
NA |
66.667 |
58.333 |
|
|
|
|
|
|
Total |
NA |
66.667 |
58.333 |
|
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Term Loans from
banks (Repayable in 3 equal yearly instalments
beginning June 20, 2013. This is repayable by June 20, 2015 and carry an
interest of 11.45% p.a.) |
66.667 |
133.333 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
From Standard
Charted Bank |
|
|
|
Working Capital
Loan |
95.000 |
0.000 |
|
Bank Overdraft |
0.000 |
16.668 |
|
Buyers Credit |
124.654 |
124.903 |
|
Loan from related
party |
100.000 |
0.000 |
|
Total |
386.321 |
274.904 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixtures
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. 61.46 |
|
|
1 |
Rs. 98.21 |
|
Euro |
1 |
Rs. 77.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
HEN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
28 |
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.