MIRA
INFORM REPORT
|
Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
FRIGORIFICO ALLANA LIMITED |
|
|
|
|
Registered
Office : |
Allana House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.09.1986 |
|
|
|
|
Com. Reg. No.: |
11-040835 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.626 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01220MH1986PLC040835 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF03668A /
MUMF00315A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF0861F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Halal Meat, Veal Meat, Buffalo Meat, Lamb Meat etc. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having excellent track record. Financial position of the company is sound. Fundamentals of the
company are heathy. Performance capability of the company is high. Reserves
of the company are decent. Trade relations are reported as trustworthy. Business is active.
Payment terms are reported to be regular and as per commitment. The company can be considered good 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
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Proposed Short – Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
07.02.2014 |
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.: 91-22-22811000)
LOCATIONS
|
Registered Office : |
Allana House, 4 J
A Allana Road, Colaba, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22811000/ 22874455 |
|
Fax No.: |
91-22-22044821/ 22047002 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Post Box. 14, Paithan Road, Gevrai Village, Aurangabad – 431001, Maharashtra, India |
|
Tel. No.: |
91-240-2376452/ 2376593 |
|
Fax No.: |
91-240-2376440 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Jayprakash Nandlal Atal |
|
Designation : |
Director |
|
Address : |
Bunglow No.2, Atur Park, V. N. Purva Marg, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Date of Birth/Age : |
12.12.1950 |
|
Qualification : |
B.E |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00226246 |
|
|
|
|
Name : |
Mr. Dharam Bir Sabharwall |
|
Designation : |
Director |
|
Address : |
C/o Allanasons Limited, 10 SC India House, 2nd Floor,
Connaught Circus, New Delhi – 110001, India |
|
Date of Birth/Age : |
15.02.1945 |
|
Qualification : |
M.A, LLB, FICA |
|
Date of Appointment : |
01.03.2005 |
|
DIN No.: |
00713595 |
|
|
|
|
Name : |
Mr. Mehmood Siraj Sumar |
|
Designation : |
Additional Director |
|
Address : |
173, Dhudal Apartments, Madhuban Chowk, Pitampura, New Delhi – 110034,
India |
|
Date of Birth/Age : |
12.12.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.08.2002 |
|
DIN No.: |
01986157 |
|
|
|
|
Name : |
Mr. Rafiq Razak Patel |
|
Designation : |
Director |
|
Address : |
Flat No. B/203, Meman Housing Society, Garkheda, Aurangabad – 431001,
Maharashtra, India |
|
Date of Birth/Age : |
20.11.1958 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.04.2008 |
|
DIN No.: |
02123363 |
|
|
|
|
Name : |
Mr. Ramesh Purushothaman Unnithan |
|
Designation : |
Additional Director |
|
Address : |
A 605/606, Flora, Hiranandani Estate, Ghodbunder Road, Thane – 400607,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1963 |
|
Date of Appointment : |
18.10.2012 |
|
DIN No.: |
06407054 |
|
|
|
|
Name : |
Mr. Sanjay Padmakar Dighe |
|
Designation : |
Additional Director |
|
Address : |
34/201, NRI Complex, Seawoods, E-Sector-54/56/57, Nerul, New Mumbai –
400706, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1965 |
|
Date of Appointment : |
18.10.2012 |
|
DIN No.: |
06407138 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Allana Investments and Trading Company Limited, India |
99000 |
12.98 |
|
Allana Cold Storage Limited, India |
178000 |
23.34 |
|
Allanasins Limited, India |
113000 |
14.82 |
|
Anjaneya Cold Storage Limited, India |
162200 |
21.27 |
|
Allana Exports Limited, India |
75000 |
9.83 |
|
Allana Frozen Foods Limited, India |
58300 |
7.64 |
|
Frigerio Conserva Allana Limited, India |
30000 |
3.93 |
|
Indagro Foods Limited, India |
47100 |
6.18 |
|
Total |
762600 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Body Corporate (not mentioned above) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Halal Meat, Veal Meat, Buffalo Meat, Lamb Meat etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, Dalamal Tower, 211,
Nariman Point, Mumbai, Maharashtra, India |
|
PAN No.: |
AAAFB6405G |
|
|
|
|
Associates : |
· Allana Cold Storage Limited CIN No.: U63020MH1973PLC016807 · Anjaneya Cold Storage Limited CIN No.: U29190MH1971PLC048613 · Frigerio Conserva Allana Limited CIN No.: U74999MH1989PLC051140 · Indagro Foods Limited CIN No.: U15100MH1992PLC068160 ·
Tiffany Foods |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
762600 |
Equity Shares |
Rs.10/- each |
Rs.7.626 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 |
7.626 |
7.921 |
7.921 |
|
(b) Reserves & Surplus |
10,247.224 |
8,244.928 |
6,956.580 |
|
(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) |
10,254.850 |
8,252.849 |
6,964.501 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
69.486 |
62.159 |
59.800 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
22.169 |
19.748 |
14.628 |
|
Total Non-current Liabilities (3) |
91.655 |
81.907 |
74.428 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
552.772 |
845.808 |
64.521 |
|
(c) Other current
liabilities |
89.193 |
201.717 |
60.296 |
|
(d) Short-term provisions |
37.455 |
29.966 |
32.269 |
|
Total Current Liabilities (4) |
679.420 |
1,077.491 |
157.086 |
|
|
|
|
|
|
TOTAL |
11,025.925 |
9,412.247 |
7,196.015 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1,322.028 |
1,313.898 |
1,320.808 |
|
(ii) Intangible Assets |
20.742 |
20.188 |
6.884 |
|
(iii) Capital
work-in-progress |
1,582.901 |
497.865 |
61.196 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1,210.965 |
1,208.683 |
1,221.907 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
162.023 |
83.663 |
4.474 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4,298.659 |
3,124.297 |
2,615.269 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1,169.987 |
927.658 |
704.217 |
|
(c) Trade receivables |
4,483.516 |
4,036.537 |
3,333.308 |
|
(d) Cash and cash
equivalents |
574.268 |
496.013 |
314.960 |
|
(e) Short-term loans and
advances |
463.942 |
773.252 |
190.909 |
|
(f) Other current assets |
35.553 |
54.490 |
37.352 |
|
Total Current Assets |
6,727.266 |
6,287.950 |
4,580.746 |
|
|
|
|
|
|
TOTAL |
11,025.925 |
9,412.247 |
7,196.015 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25,480.687 |
18,359.638 |
13,817.147 |
|
|
|
Other Income |
43.414 |
0.620 |
8.876 |
|
|
|
TOTAL (A) |
25,524.101 |
18,360.258 |
13,826.023 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
18,522.386 |
12,397.244 |
10,583.181 |
|
|
|
Purchase of Stock-in-trade |
1,988.523 |
2,248.499 |
219.463 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(174.965) |
(123.451) |
164.923 |
|
|
|
Employee Benefits Expenses |
569.808 |
449.897 |
366.067 |
|
|
|
Other Expenses |
1,697.768 |
1,306.552 |
1,096.656 |
|
|
|
TOTAL (B) |
22,603.520 |
16,278.741 |
12,430.290 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2,920.581 |
2,081.517 |
1,395.733 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2,920.581 |
2,081.517 |
1,395.733 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
166.803 |
159.054 |
167.337 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
2,753.778 |
1,922.463 |
1,228.396 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
751.481 |
634.116 |
443.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
2,002.297 |
1,288.347 |
784.398 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8165.285 |
6876.937 |
6092.539 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10167.582 |
8165.285 |
6876.937 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2601.00 |
1626.00 |
990.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.84 |
7.02 |
5.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.81 |
10.47 |
8.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
33.45 |
24.95 |
20.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.23 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.90 |
5.84 |
29.16 |
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 |
7.921 |
7.921 |
7.626 |
|
Reserves & Surplus |
6956.580 |
8244.928 |
10247.224 |
|
Net
worth |
6964.501 |
8252.849 |
10254.850 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
13,817.147 |
18,359.638 |
25,480.687 |
|
|
|
32.876 |
38.786 |
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
|
13,817.147 |
18,359.638 |
25,480.687 |
|
Profit |
784.398 |
1,288.347 |
2,002.297 |
|
|
5.68% |
7.02% |
7.86% |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
REVIEW OF OPERATIONS:
During the year the Company achieved a turnover of RS.25480.700 Millions as compared to Rs.18359.600 Millions of previous year showing a growth of 38.78% over the previous year.
Net profit after tax is Rs.2002.200 Millions (previous year
Rs.1288.300 Millions).
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90215513 |
23/01/1999 * |
20,000,000.00 |
State Bank of India |
Overseas Branch, World Trade Centre Cuffe Parade, Bombay, Maharashtra - 400005, India |
- |
|
2 |
90215457 |
28/07/1995 |
75,000,000.00 |
Vijaya Bank |
Maker Chamber 4 Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
3 |
90214563 |
08/09/1995 * |
75,000,000.00 |
State Bank of India |
Overseas Branch, World Trade Centre Cuffe Parade, Bombay, Maharashtra - 400005, India |
- |
|
4 |
90215361 |
22/09/1993 |
5,000,000.00 |
Vijaya Bank |
Overseas Branch, Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
5 |
90215327 |
28/09/1992 |
2,500,000.00 |
State Bank of India |
Overseas Branch, World Trade Centre Cuffe Parade, Bombay, Maharashtra - 400005, India |
- |
|
6 |
90215266 |
01/10/1991 * |
10,000,000.00 |
Vijaya Bank |
Overseas Branch, Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
7 |
90215243 |
30/03/1990 |
50,000,000.00 |
State Bank of India |
Overseas Branch, World Trade Centre Cuffe Parade, Bombay, Maharashtra - 400005, India |
- |
|
8 |
90214342 |
22/09/1993 * |
112,500,000.00 |
Vijaya Bank |
Overseas Branch, Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
9 |
90215110 |
20/08/1987 * |
15,000,000.00 |
Vijaya Bank |
Overseas Branch, Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
10 |
90215088 |
10/11/1986 |
1,300,000.00 |
VIJAYA BANK |
New Excelsior Branch, Bombay, Maharashtra, 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.60.47 |
|
|
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.79.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
73 |
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.