MIRA
INFORM REPORT
|
Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
AARAV FRAGRANCES AND FLAVORS PRIVATE LIMITED (w.e.f. 15.11.2011) |
|
|
|
|
Formerly Known
As : |
AARAV
FRAGRANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Aarav House", A-152/ A-153, Road No 25, Wagle Estate, Thane (West), Thane – 400604, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
13.03.2007 |
|
|
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|
Com. Reg. No.: |
11-168695 |
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|
Capital
Investment / Paid-up Capital : |
Rs.40.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2007PTC168695 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
The Company is engaged in
the Manufacturing and Selling all kinds of Aromatic Chemicals, Industrial
Fragrances, Food and Flavouring Essences. |
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|
No. of Employees
: |
Information declined by Management
|
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
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. The company has recorded huge external borrowings which may act as a
threat to the liquidity position of the company. However, trade relations are reported as fair. Business is active.
Payments 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 their 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.
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 BY
|
Name : |
Mr. Nitin K. |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-41130232 |
LOCATIONS
|
Registered/
Corporate Office : |
"Aarav House", A-152/ A-153, Road No 25, Wagle
Estate, Thane (West), Thane – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-41130232/ 34/ 41130200 |
|
Fax No.: |
91-22-25827419 |
|
E-Mail : |
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|
Website : |
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Factory : |
GUI No.: 296/171, Jamghar, Lakhampur, Post-Nehroli, Taluka-Wada,
District Thane – 421303, Maharashtra, India |
|
|
|
|
Showroom : |
No.136, 3rd Main 9th Corss, Chamrajpet
Bangalore, Karnataka, India |
|
Tel. No.: |
91-80-26612296 |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Ajit Suresh Vaze |
|
Designation : |
Managing Director |
|
Address : |
801/ 802, Ixora, Hiranandani Medows, Galdys, Alwaris Road Off Pokhran
Road 2, Thane – 400610, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1965 |
|
Date of Appointment : |
13.03.2007 |
|
DIN No.: |
00509899 |
|
|
|
|
Name : |
Mrs. Anuradha Ajit Vaze |
|
Designation : |
Director |
|
Address : |
801/ 802, Ixora, Hiranandani Medows, Galdys, Alwaris Road Off Pokhran
Road 2, Thane – 400610, Maharashtra, India |
|
Date of Birth/Age : |
12.03.1969 |
|
Date of Appointment : |
13.03.2007 |
|
DIN No.: |
01186560 |
|
|
|
|
Name : |
Mr. Ajit Shamrao Deshmukh |
|
Designation : |
Director |
|
Address : |
Samarth Krupa, Ram Mandir Road, Vile Parle East, Mumbai – 400057,
Maharashtra, India |
|
Date of Birth/Age : |
13.01.1969 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
00203706 |
|
|
|
|
Name : |
Jean Louis Yves Matthey De L'endroit |
|
Designation : |
Director |
|
Address : |
Primelweg 1, 6440, Brunnen, Switzerland 6440 |
|
Date of Birth/Age : |
24.06.1945 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03645515 |
KEY EXECUTIVES
|
Name : |
Mr. Nitin K. |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Dilip Deokule and Company |
|
Designation : |
Company Secretary |
|
Address : |
9A/14, Brindaban, Thane – 400601, Maharashtra, India |
|
Tel No.: |
91-22-25345829 |
|
Mobile No.: |
91-9820725858 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of
Shareholders |
No of
Shares |
Percentage |
|
|
|
|
|
Anuradha Ajit Vaze |
1000000 |
25.00 |
|
Ajit Suresh Vaze |
2000000 |
50.00 |
|
Ajit Suresh Vaze (Karta) |
1000000 |
25.00 |
|
|
|
|
|
Total |
4000000 |
100.00 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in
the Manufacturing and Selling all kinds of Aromatic Chemicals, Industrial
Fragrances, Food and Flavouring Essences. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by Management
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Bankers : |
· HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India · Bank of India 1112, Nimish Apartment, Devi Dayal Road, Mulund West, Mumbai – 400080, Maharashtra, India · HDFC Bank Limited Dosti Pimmacle, Road No.22, Wagle Esate, Thane ((West), Thane – 400604, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
G M Kapadia and Company Chartered Accountants |
|
Address : |
36 B, Tamarind House, Tamarind Lane, Fort Mumbai – 400001,
Maharashtra, India |
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Tel. No.: |
91-22-66775555 |
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Fax No.: |
91-22-66775500 |
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PAN No.: |
AAAFG4713G |
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|
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Subsidiary Company : |
· Aarav ITES Private Limited CIN No.: U72300MH2011PTC214891 · Aarav Suisse SA |
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Enterprise under significant influence of individuals : |
· Wizarth Advisors Private Limited · Unterwalden Limited · Aquila Organcis Private Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares Type A (with Voting Rights) |
Rs.10/- each |
Rs.70.000 Millions |
|
1000000 |
Equity Shares Type B (Without Voting Rights) |
Rs.10/- each |
Rs.10.000 Millions |
|
2000000 |
6% redeemable Preference Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares Type A |
Rs.10/- each |
Rs.40.000
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 |
40.000 |
40.000 |
40.000 |
|
(b) Reserves & Surplus |
71.508 |
57.144 |
64.951 |
|
(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) |
111.508 |
97.144 |
104.951 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
579.161 |
600.115 |
540.070 |
|
(b) Deferred tax liabilities (Net) |
11.348 |
1.958 |
1.645 |
|
(c) Other long term liabilities |
2.000 |
2.000 |
10.176 |
|
(d) long-term provisions |
9.733 |
4.907 |
3.790 |
|
Total Non-current Liabilities (3) |
602.242 |
608.980 |
555.681 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
134.407 |
99.215 |
65.203 |
|
(b) Trade payables |
57.497 |
61.776 |
41.442 |
|
(c) Other current
liabilities |
21.884 |
34.305 |
48.574 |
|
(d) Short-term provisions |
0.317 |
0.084 |
0.030 |
|
Total Current Liabilities (4) |
214.105 |
195.380 |
155.249 |
|
|
|
|
|
|
TOTAL |
927.855 |
901.504 |
815.881 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
405.351 |
421.427 |
144.372 |
|
(ii) Intangible Assets |
1.054 |
0.941 |
0.734 |
|
(iii) Capital
work-in-progress |
10.421 |
0.000 |
223.692 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
198.547 |
198.547 |
198.447 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
47.896 |
49.049 |
34.395 |
|
(e) Other Non-current assets |
18.686 |
15.210 |
0.000 |
|
Total Non-Current Assets |
681.955 |
685.174 |
601.640 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
110.760 |
108.231 |
72.797 |
|
(c) Trade receivables |
120.503 |
92.026 |
93.787 |
|
(d) Cash and cash
equivalents |
6.172 |
5.373 |
6.536 |
|
(e) Short-term loans and
advances |
4.132 |
6.623 |
41.121 |
|
(f) Other current assets |
4.333 |
4.077 |
0.000 |
|
Total Current Assets |
245.900 |
216.330 |
214.241 |
|
|
|
|
|
|
TOTAL |
927.855 |
901.504 |
815.881 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
449.341 |
355.130 |
314.529 |
|
|
|
Other Income |
7.816 |
5.177 |
2.332 |
|
|
|
TOTAL |
457.157 |
360.307 |
316.861 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
394.671 |
329.758 |
280.141 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
62.486 |
18.265 |
36.720 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
31.130 |
29.359 |
10.455 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
31.356 |
(7.494) |
26.265 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
16.992 |
0.313 |
9.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
14.364 |
(7.807) |
17.261 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENTS (INCOME/
EXPENSES) |
(10.203) |
(8.683) |
(0.046) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
47.144 |
54.951 |
40.236 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
2.500 |
|
|
BALANCE CARRIED
TO THE B/S |
61.508 |
47.144 |
54.951 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
17.525 |
9.029 |
6.540 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
68.292 |
79.225 |
83.894 |
|
|
|
Capital Goods |
2.105 |
0.000 |
16.996 |
|
|
|
Interest Paid on ECB Loan |
0.000 |
0.000 |
0.222 |
|
|
|
Expenditure on Investment |
0.000 |
0.000 |
5.926 |
|
|
TOTAL IMPORTS |
70.397 |
79.225 |
107.038 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.59 |
(1.95) |
4.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.14 |
(2.17) |
5.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.98 |
(2.11) |
8.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.36 |
(1.07) |
6.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
(0.08) |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.40 |
7.20 |
5.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.11 |
1.38 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
40.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
64.951 |
57.144 |
71.508 |
|
Net worth |
104.951 |
97.144 |
111.508 |
|
|
|
|
|
|
long-term borrowings |
540.070 |
600.115 |
579.161 |
|
Short term borrowings |
65.203 |
99.215 |
134.407 |
|
Total borrowings |
605.273 |
699.330 |
713.568 |
|
Debt/Equity ratio |
5.767 |
7.199 |
6.399 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
314.529 |
355.130 |
449.341 |
|
|
|
12.909 |
26.529 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
314.529 |
355.130 |
449.341 |
|
Profit |
17.261 |
(7.807) |
14.364 |
|
|
5.49% |
(2.20%) |
3.20% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
From Bank (ECB Loan) |
0.000 |
191.845 |
|
From Credit Suisse Finance (India) Private Limited |
10.000 |
0.000 |
|
Loans
and Advances from Related Parties |
|
|
|
Loan From directors |
408.270 |
408.270 |
|
From Banks -Overdraft from HDFC Bank (Against Deposit in the name of the directors |
14.670 |
26.404 |
|
|
|
|
|
Total |
432.940 |
626.519 |
NOTE:
The Registered office of the company has been shifted
from 11, Block 1, Emrald Plaza, Hiranandani Medows, Gladya Alvares Road, Off
Pokharan Road, No.2, Thane – 400605, Maharashtra, India, to the present address
w.e.f. 08.06.2011.
OPERATIONS AND
DIVIDEND
The company has registered
a 26.53% (13.05%) growth in sales; Growth in sales on year on year basis was
mainly due to proper analytical observations of market segments and
applications and ensuring consistent wider acceptance of the company's products
continued to mark the growth. The company register a fairly upward increase in
Operating Profit Margins (EBIDT) @ 18.22% (14.15%). No dividend is recommended
for the financial year. Similarly no transfers to General Reserves are under
proposition.
FUTURE PROSPECTS AND
EXPANSION
Company has identified and
made fresh beginning into corporate customers for its fragrances and flavor
products. Company expects substantial Sales and Improved margins out of
corporate segments. Company has also identified new areas for expanding its
export market and new geographical areas and the related product development
has shown positive results.
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10247139 |
19/10/2013 * |
280,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B89068050 |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Electrical Fittings
· Vehicle
· Office Equipment
· Air Conditioner
· Computers
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] 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.60.44 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
30 |
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.