MIRA
INFORM REPORT
|
Report Date : |
10.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ORCHEV PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal Road,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.06.1989 |
|
|
|
|
Com. Reg. No.: |
04-012430 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.990 millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1989PTC012430 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO3086D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of bulk drugs. |
|
|
|
|
No. of Employees
: |
61 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. However, trade relations are fair. Business is active. Payment terms
are recorded to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash Credit : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
August, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Credit Exposure Limit: A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
August, 2013 |
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
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pangh Rathod |
|
Designation : |
Export Department |
|
Contact No.: |
91-281-2365731 |
|
Date: |
09.09.2014 |
LOCATIONS
|
Registered Office : |
Rangoli, 1st Floor, Opposite Jaynath Petrol Pump, Gondal
Road, Rajkot – 360 002, Gujarat, India |
|
Tel. No.: |
91-281-2365731/ 2365732 |
|
Fax No.: |
91-281-2365733 |
|
E-Mail : |
|
|
Website: |
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|
Location: |
Owned |
|
|
|
|
Factory: |
Shapar Industrial Area, Rajkot-Gondal Highway, Veraval, District
Rajkot – 360 024, Gujarat, India |
|
Tel. No.: |
91-2827-252114/ 252115 |
|
Fax No.: |
91-2827-252113 |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Viren Vasantbhai Patel |
|
Designation : |
Director |
|
Address : |
Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital, Kalawad Road,
City Rajkot – 360 005, Gujarat, India |
|
Date of Appointment : |
01.06.2006 |
|
DIN No.: |
00544034 |
|
|
|
|
Name : |
Mr. Chiragbhai Vasantbhai Patel |
|
Designation : |
Director |
|
Address : |
Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital, Kalawad
Road, City Rajkot – 360 005, Gujarat, India |
|
Date of Appointment : |
01.08.2006 |
|
DIN No.: |
00544051 |
|
|
|
|
Name : |
Mr. Vasantlal Odhavjibhai Bhalodia |
|
Designation : |
Director |
|
Address : |
Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital, Kalawad
Road, City Rajkot – 360 005, Gujarat, India |
|
Date of Appointment : |
28.06.1989 |
|
DIN No.: |
00544069 |
|
|
|
|
Name : |
Mrs. Kanchanben Vasantlal Bhalodia |
|
Designation : |
Director |
|
Address : |
Sadguru Tower, Block No. B/9, Opposite Gondhiya Hospital, Kalawad
Road, City Rajkot – 360 005, Gujarat, India |
|
Date of Appointment : |
03.10.1992 |
|
DIN No.: |
00544082 |
KEY EXECUTIVES
|
Name : |
Mr. Pangh Rathod |
|
Designation : |
Export Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vasantlal Odhavjibhai Bhalodia |
|
995 |
|
Vasantlal Odhavjibhai Bhalodia (As Karta of Vasantial O. Bhalodia HUF)
|
|
1544 |
|
Kanchanben Vasantlal Bhalodia |
|
707 |
|
Anilbhai Sridhar Kane |
|
104 |
|
Kasturben Amrutlal Patel |
|
110 |
|
Prafulkumar Vinaychandra Kamdar |
|
110 |
|
Dineshkumar Harjivanbhai Patel |
|
100 |
|
Ciragbhai Vasantbhai Patel |
|
2568 |
|
Viren Vasantlal Patel |
|
3006 |
|
Dipti Chiragbhai Patel |
|
457 |
|
Bharatbhai T. Kalawadia |
|
78 |
|
Nitinbhai T. Kalawadia |
|
78 |
|
Ameeben Virenbhai Patel |
|
133 |
|
Total |
|
9990 |
AS ON 28.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
96.93 |
|
Others
|
|
3.07 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of bulk drugs. |
|
|
|
|
Exports : |
|
|
Products : |
Bulk drugs |
|
Countries : |
·
Asian Countries ·
Latin America ·
Middle East ·
UK ·
Brazil ·
Europe |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
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|
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Terms : |
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|
Selling : |
Cash and Advance Payment |
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|
|
|
Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS (AS ON 31.03.2011):
|
Particulars |
Unit |
Licensed
Capacity |
Annual
Installed Capacity |
Actual
Production |
|
Ranitidine HCL |
M.T. |
1800.000 |
540.000 |
371.215 |
GENERAL INFORMATION
|
Customer: |
·
Wholesalers ·
Retailers ·
End Users |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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No. of Employees : |
61 (Approximately) |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Bhaktinagar Branch, Dhebar
Road, Rajkot – 360 001, Gujarat, India ·
HDFC Bank Limited ·
UCO Bank |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
|
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Banking
Relations : |
|
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|
|
|
Auditors : |
|
|
Name : |
H. Jamnadas and Company Chartered Accountants |
|
Address : |
50, Janta Society, Opposite LIC Building, Mahila College Chowk, Tagore
Road, Rajkot – 360 001, Gujarat, India |
|
PAN No.: |
AABFH2320P |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.1000/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9990 |
Equity Shares |
Rs.1000/- each |
Rs.9.990
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 |
9.990 |
9.990 |
9.990 |
|
(b) Reserves & Surplus |
118.614 |
107.901 |
102.552 |
|
(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) |
128.604 |
117.891 |
112.542 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
45.599 |
12.113 |
14.356 |
|
(b) Deferred tax liabilities (Net) |
1.604 |
1.821 |
1.228 |
|
(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) |
47.203 |
13.934 |
15.584 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
27.301 |
15.357 |
27.205 |
|
(b)
Trade payables |
41.277 |
38.208 |
6.873 |
|
(c) Other
current liabilities |
7.261 |
0.914 |
2.584 |
|
(d) Short-term
provisions |
14.696 |
6.979 |
13.262 |
|
Total Current
Liabilities (4) |
90.535 |
61.458 |
49.924 |
|
|
|
|
|
|
TOTAL |
266.342 |
193.283 |
178.050 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
54.807 |
51.350 |
39.964 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.879 |
6.241 |
2.485 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.094 |
0.094 |
0.094 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
1.156 |
1.142 |
0.940 |
|
Total Non-Current
Assets |
57.936 |
58.827 |
43.483 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
80.688 |
54.180 |
67.912 |
|
(c)
Trade receivables |
86.611 |
40.620 |
37.953 |
|
(d) Cash
and cash equivalents |
2.691 |
4.389 |
2.727 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
38.416 |
35.267 |
25.975 |
|
Total
Current Assets |
208.406 |
134.456 |
134.567 |
|
|
|
|
|
|
TOTAL |
266.342 |
193.283 |
178.050 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
386.163 |
279.697 |
255.139 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
386.163 |
279.697 |
255.139 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
354.837 |
259.884 |
229.357 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
354.837 |
259.884 |
229.357 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
31.326 |
19.813 |
25.782 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.730 |
3.022 |
4.645 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.596 |
16.791 |
21.137 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.377 |
6.499 |
5.701 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
19.219 |
10.292 |
15.436 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.753 |
3.202 |
5.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
12.466 |
7.090 |
10.318 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
87.850 |
83.052 |
75.606 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1.499 |
1.499 |
1.998 |
|
|
|
Corporate Dividend Tax |
0.254 |
0.243 |
0.324 |
|
|
|
General Reserve |
0.625 |
0.550 |
0.550 |
|
|
BALANCE CARRIED
TO THE B/S |
97.938 |
87.850 |
83.052 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
211.237 |
137.447 |
170.270 |
|
|
TOTAL EARNINGS |
211.237 |
137.447 |
170.270 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1247.85 |
709.71 |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
447.500 |
|
|
|
|
|
The above information has been parted by Mr. Naitik (Accounts
Department).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.23 |
2.53
|
4.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.27 |
5.51
|
8.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.09
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.57 |
0.23
|
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30 |
2.19
|
2.70 |
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 |
9.99 |
9.99 |
9.99 |
|
Reserves & Surplus |
102.552 |
107.901 |
118.614 |
|
Net worth |
112.542 |
117.891 |
128.604 |
|
|
|
|
|
|
Long-term borrowings |
14.356 |
12.113 |
45.599 |
|
Short term borrowings |
27.205 |
15.357 |
27.301 |
|
Total borrowings |
41.561 |
27.470 |
72.900 |
|
Debt/Equity ratio |
0.369 |
0.233 |
0.567 |
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) |
|
Total Income |
255.139 |
279.697 |
386.163 |
|
|
|
9.625 |
38.065 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
255.139 |
279.697 |
386.163 |
|
Profit |
10.318 |
7.090 |
12.466 |
|
|
4.04% |
2.53% |
3.23% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
0.430 |
0.000 |
NA
|
|
|
|
|
|
|
Total |
0.430 |
0.000 |
NA
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 |
No |
|
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 |
OPERATION AND
PROSPECTS:
During the current year of operations, the Company has achieved Revenue
from Operation and Other Income of Rs.386.163 millions as against Rs.279.697 millions
during the previous year. The production of Ranitidine for the year ended 31st
March, 2013 was 449.899 M.T. The Company has earned a Profit of Rs.31.326
millions before depreciation and interest and a Profit of Rs.19.219 millions
after providing for depreciation and interest. The Directors are trying their
level best to improve the performance of the Company in terms of Turnover and
Profitability. The prospects of the Company’s business are bright and positive.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of charge
creation/modification |
Charge Amount
Secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10258643 |
01/05/2013 * |
66,500,000.00 |
STATE BANK OF
INDIA |
BHAKTINAGAR
BRANCH, DHEBAR ROAD, RAJKOT, GUJARAT - 360001, INDIA |
B74739806 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG
TERM BORROWINGS |
|
|
|
-
From Directors |
39.895 |
10.597 |
|
-
From Shareholders and Directors' Relatives |
5.059 |
1.516 |
|
Total
|
44.954 |
12.113 |
FIXED ASSETS
Direct Assets
·
Land
·
Factory Building
·
Factory Furniture
·
Factory Air Conditioner
·
Road and Site Development
·
Plant and Machinery
·
Electrification
·
Laboratory Equipment
·
Microbiology laboratory
·
Material Handling Lift
·
Storage Tanks ‐ Chemicals
·
Weighing Scale
·
Sulphuric Acid Tank
Indirect Assets
·
Other Building
·
Office Equipment
·
Office Attendance Machine
·
Office Air Conditioners
·
Office Furniture
·
Motor Car
·
Innova Car
·
Car ‐ Hyundai i10
·
Car ‐ Honda Civic
·
Two Wheelers
·
Other Misc. Assets
·
Canteen Utensils
·
Refrigerator
·
Television Set
·
Computer
·
Tractor
·
Ups and Battery
·
Mobile Phone
·
Telephone Instruments
·
Water Storage Tank
·
Water Cooler
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.60.43 |
|
|
1 |
Rs.97.25 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.