MIRA INFORM REPORT
|
Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
YASHO INDUSTRIES PRIVATE LIMITED |
|
|
|
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Formerly Known
As : |
VASU PRESERVATIVES PRIVATE LIMITED |
|
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Registered
Office : |
Nimish Apartment, Juhu Scheme, Road No.5, Vile Parle (West), Mumbai –
400056, Maharashtra |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
30.10.1985 |
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Com. Reg. No.: |
11-037900 |
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Capital
Investment / Paid-up Capital : |
Rs. 50.000
Millions |
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|
CIN No.: [Company Identification
No.] |
U74110MH1985PTC037900 |
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|
|
PAN No.: [Permanent Account No.] |
AAACY0396G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Specialty and Fine Chemicals for Food,
Fragrance, Flavors, Pharmaceuticals, Plastic and Lubricants. |
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
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 a moderate track record. The company has incurred a loss from its operations during 2014.
External borrowings of the company also seems to be huge. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB+ [Suspended] |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
October 29, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ [Suspended] |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
October 29, 2013 |
Reason for Suspension: The suspension of ratings
is on account of non-cooperation by Company with CRISIL efforts to undertake a
review of the rating outstanding.
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
[CONTACT NO.: 91-22-66929152]
LOCATIONS
|
Registered Office : |
Nimish Apartment, Juhu Scheme, Road No.5, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Head Office : |
31-H, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Tel. No.: |
91-22-66929152/ 66929153/ 26310350/ 42467000 |
|
Fax No.: |
91-22-66929154 |
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E-Mail : |
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Factory 1 : |
Plot No.2514-2515, Phase IV, GIDC, Vapi – 396195, Gujarat, India |
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Factory 2 : |
Plot No.1713, Phase – III, GIDC, Vapi – 396195, Gujarat, India |
DIRECTORS
As on 09.08.2014
|
Name : |
Mr. Nilesh Vinod Jhaveri |
|
Designation : |
Director |
|
Address : |
Plot No. 43, Residency Society, 201, Padamanabh Building, 2nd
Floor Neat Jamnabhai School, Juhu Scheme, N S Road No. 8, Vile Parle (East),
Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1964 |
|
Date of Appointment : |
06.03.1995 |
|
PAN No.: |
AACPJ0679E |
|
DIN No.: |
01257659 |
|
|
|
|
Name : |
Mr. Yayesh Vinod Jhaveri |
|
Designation : |
Director |
|
Address : |
21, Hatkesh Society 1, Ashirwad Building, Near Opposite Jamnabai
School, Juhu Scheme Road No.6, Vile Parle [West], Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
13.04.1971 |
|
Date of Appointment : |
04.04.1997 |
|
PAN No.: |
AAAHY1752M |
|
DIN No.: |
01257668 |
|
|
|
|
Name : |
Mr. Parag Vinod Jhaveri |
|
Designation : |
Director |
|
Address : |
301, Shri Adhikari Villa [Nalini Villa], 46, Hatkesh CHS, Juhu Scheme,
N.S. Road No.7, Vile Parle [West], Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1966 |
|
Date of Appointment : |
02.05.1990 |
|
PAN No.: |
AADNP1026N |
|
DIN No.: |
01257685 |
|
|
|
|
Name : |
Mr. Vinod Harilal Jhaveri |
|
Designation : |
Director |
|
Address : |
21, Hatkesh Society 1, Ashirwad Building, Near Opposite Jamnabai
School, Juhu Scheme Road No.6, Vile Parle [West], Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
27.02.1939 |
|
Date of Appointment : |
09.08.2007 |
|
PAN No.: |
AAEPJ6636Q |
|
DIN No.: |
01655692 |
|
|
|
|
Name : |
Mr. Narendra Gajanan Wagle |
|
Designation : |
Director |
|
Address : |
B-151 Kalpataru Towers, Akurli Cross Raod No. 3, Kandiivli (East),
Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1934 |
|
Date of Appointment : |
26.11.2007 |
|
DIN No.: |
02010084 |
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|
|
|
Name : |
Mr. Navin Vithaldas Vimadalal |
|
Designation : |
Director |
|
Address : |
6th Floor, Flat No.62, Ranju Manju, Rungta Lane of N. Sea Road,
Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
18.02.1933 |
|
Date of Appointment : |
26.11.2007 |
|
DIN No.: |
02013145 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.08.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 09.08.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Specialty and Fine Chemicals for Food,
Fragrance, Flavors, Pharmaceuticals, Plastic and Lubricants. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· The Saraswat Co-operative Bank Limited SME Vile Parle Branch, Bholanath Co-Operative Housing Society Subhash Road, Vile Parle East, Mumbai - 400057, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Jagdish B. Shah and Associates Chartered Accountants |
|
Address : |
115, Rewa Chambers, 10, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS0533Q |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Re. 1/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Re. 1/- each |
Rs. 50.000
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 |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
8.609 |
22.408 |
60.174 |
|
(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) |
58.609 |
72.408 |
110.174 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1046.726 |
906.079 |
756.554 |
|
(b) Deferred tax liabilities
(Net) |
31.925 |
41.030 |
59.129 |
|
(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) |
1078.651 |
947.109 |
815.683 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
99.529 |
61.117 |
60.768 |
|
(b) Trade payables |
315.402 |
350.368 |
173.698 |
|
(c) Other current liabilities |
14.897 |
13.932 |
1.500 |
|
(d) Short-term provisions |
0.000 |
0.000 |
12.847 |
|
Total
Current Liabilities (4) |
429.828 |
425.417 |
248.813 |
|
|
|
|
|
|
TOTAL |
1567.088 |
1444.934 |
1174.670 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
596.429 |
582.125 |
524.421 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.670 |
0.000 |
12.677 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.361 |
1.367 |
1.367 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.638 |
8.724 |
7.605 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
607.098 |
592.216 |
546.070 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
477.822 |
378.235 |
262.507 |
|
(c) Trade receivables |
230.528 |
136.857 |
187.401 |
|
(d) Cash and cash equivalents |
39.755 |
36.658 |
26.630 |
|
(e) Short-term loans and
advances |
211.885 |
300.968 |
152.062 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
959.990 |
852.718 |
628.600 |
|
|
|
|
|
|
TOTAL |
1567.088 |
1444.934 |
1174.670 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
GROSS SALES |
1662.731 |
1206.230 |
1340.315 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.390 |
(29.533) |
33.342 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.294 |
26.331 |
22.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
BEFORE TAX |
(22.904) |
(55.864) |
10.971 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(9.105) |
(18.098) |
18.334 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX |
(13.799) |
(37.766) |
(7.363) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Value] |
972.668 |
676.363 |
780.865 |
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
(0.28) |
(0.76) |
(0.15) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.46) |
(3.87) |
0.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.39) |
(0.77) |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
19.56 |
13.36 |
7.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23 |
2.00 |
2.53 |
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
60.174 |
22.408 |
8.609 |
|
Net
worth |
110.174 |
72.408 |
58.609 |
|
|
|
|
|
|
long-term borrowings |
756.554 |
906.079 |
1046.726 |
|
Short term borrowings |
60.768 |
61.117 |
99.529 |
|
Total
borrowings |
817.322 |
967.196 |
1146.255 |
|
Debt/Equity
ratio |
7.418 |
13.358 |
19.558 |
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) |
|
Gross Sales |
1340.315 |
1206.230 |
1662.731 |
|
|
|
(10.004) |
37.845 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Sales |
1340.315 |
1206.230 |
1662.731 |
|
Profit |
(7.363) |
(37.766) |
(13.799) |
|
|
(0.55%) |
(3.13%) |
(0.83%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FINANCIAL PERFORMANCE
/ INTERNAL CONTROL SYSTEM / HUMAN RESOURCES
The company achieved a Sales turnover for year ended 31st March, 2014 of Rs.1662.700 Millions compared to Rs. 1206.200 Millions of the last year coupled with loss of the year of Rs.13.799 Millions as against Rs. 37.766 Millions in the last year.
The company has till date received only Rs 97.721 Millions against the final claim of Rs 170.818 Millions for loss of goods due to fire on 13/12/2011.
The company has preferred an appeal by way of arbitration proceeding against the Insurance company on 16/04/2014 for Rs.73.097 Millions the amount being short received for loss of goods and we are hopeful of a positive outcome. Awaiting decision on the said matter, we have not expensed the said short receipt as loss by fire in the current year.
Systems for internal control engaged by the company are commensurate with the level of its activities and are periodically evaluated to suitably modify or alter them to suit with changes taking place in business practices. Industrial Relations, through out the financial year ended 31st March, 2014, generally remained cordial. The company has adopted policies whereby its employees are regularly exposed to new production techniques and or methods, thereby enabling to enhance their skills further.
FUTURE OUTLOOK
Specialty and fine chemicals being ancillary to core Food and Pharmaceuticals Industries is bound to perform in time to come with signs of increase in global and local sales. The company is fully geared to take full advantage of benefits arising from the above. Also the Rubber product’s performance should enhance the company’s overall performance.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term Borrowings |
|
|
|
Deposits from directors |
263.952 |
213.941 |
|
Deposits from shareholders |
51.870 |
51.954 |
|
Total |
315.822 |
265.895 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10520954 |
10/09/2014 |
70,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
C21503578 |
|
2 |
10469009 |
20/12/2013 |
25,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
B93045227 |
|
3 |
10442053 |
18/07/2013 |
86,500,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
B81697328 |
|
4 |
10442058 |
18/07/2013 |
100,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
B81698433 |
|
5 |
10379258 |
10/09/2012 |
28,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
B59197806 |
|
6 |
10329349 |
30/12/2011 |
65,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
B29747391 |
|
7 |
10288157 |
09/05/2011 |
10,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
B13446588 |
|
8 |
10267518 |
11/05/2011 * |
40,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
B13196068 |
|
9 |
10261209 |
04/01/2011 |
35,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
B03069481 |
|
10 |
10214034 |
22/04/2010 |
15,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, S |
A84004027 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
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 records 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] 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.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.77.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
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 |
|
26 |
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.