MIRA
INFORM REPORT
|
Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
MWV INDIA PAPERBOARD PACKAGING PRIVATE LIMITED (w.e.f. 28.08.2014) |
|
|
|
|
Formerly Known
As : |
MWV INDIA PAPERBOARD PACKAGING LIMITED RUBY MACONS LIMITED |
|
|
|
|
Registered
Office : |
203/204, Angelina Apartments, |
|
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.05.1986 |
|
|
|
|
Com. Reg. No.: |
11-039768 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 33.318 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920MH1986PLC039768 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR1939A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of kraft papers (test liner and fluting
papers) and supply of paper and pulp making machineries and their parts. |
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|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payments
term are reported to be regular and as per commitment. The company can be considered normal 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 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 that 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 |
Long term bank facilities: “A+” |
|
Rating Explanation |
Adequate degree of safety. It carry low
credit risk. |
|
Date |
07.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-26186771)
LOCATIONS
|
Registered Office : |
203/204, Angelina Apartments, Sarojini Road, Vile Parle (West), Mumbai
– 400056, Maharashtra, India |
|
Tel. No. : |
91-22-26186771 |
|
Fax No. : |
Not Divulged |
|
E-Mail : |
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|
|
Factory : |
Survey No. 56/1, Village Morai, Morai Division, Vapi – 396191,
Gujarat, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sandip Ganesh Kulkarni |
|
Designation : |
Additional director |
|
Address : |
31, Aashirwad, Prashant Nagar, Patharti Phata, Opposite
Taj Residency, Agra Road, Nashik - 422010, Maharashtra, India |
|
Date of Birth/Age : |
09.05.1976 |
|
Date of Appointment : |
25.07.2014 |
|
DIN No. : |
05172491 |
|
|
|
|
Name : |
Mr. Piyush Ranjan |
|
Designation : |
Director |
|
Address : |
I-202, Crescent - I, Thewoods, Near Fountain In, Kalewadi
Phata, Wakad, Pune - 411027, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1971 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No. : |
02773879 |
|
|
|
|
Name : |
Mr. Peter Christian Durette |
|
Designation : |
Director |
|
Address : |
319, Wickham Glen Drive, Richmond Va, 232386161, United
States of America |
|
Date of Birth/Age : |
21.05.1973 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No. : |
06393740 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
MWV Wadco India Private Limited, India |
3331769 |
|
Rashna Hoshang Khan |
1 |
|
Homair N. Vakil |
1 |
|
Yazdi Piroj Dandiwala |
1 |
|
Darius Kakalia |
1 |
|
Rajesh K. Satpalkar |
1 |
|
Siddharth S. Thacker |
1 |
|
Total |
3331775 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of kraft papers (test liner and fluting papers)
and supply of paper and pulp making machineries and their parts. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
· State Bank of India, MID Corporate Branch, Vapi - 396195, Gujarat, India Citi Bank NA ICICI Bank Limited |
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Facilities : |
|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte, 12, Dr A B Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400067, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
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|
|
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Holding Company : |
MWV Wadco India Private Limited, India |
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|
|
|
Ultimate Holding
Company : |
Mead West Vaco Corporation, United States |
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Fellow Subsidiary
Company: |
MWV Services Inc. |
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|
|
|
Other Related Party : |
Mehali Inc |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,331,775 |
Equity Shares |
Rs.10/- each |
Rs. 33.318 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 |
33.318 |
33.318 |
33.318 |
|
(b) Reserves & Surplus |
1778.649 |
1471.776 |
1208.638 |
|
(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) |
1811.967 |
1505.094 |
1241.956 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
30.000 |
123.000 |
|
(b) Deferred tax liabilities (Net) |
286.955 |
286.076 |
278.904 |
|
(c) Other long term liabilities |
8.880 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
295.835 |
316.076 |
401.904 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
643.278 |
332.990 |
305.102 |
|
(b) Trade payables |
186.372 |
105.688 |
139.071 |
|
(c) Other current
liabilities |
66.783 |
35.636 |
100.092 |
|
(d) Short-term provisions |
0.037 |
9.293 |
2.111 |
|
Total Current Liabilities (4) |
896.470 |
483.607 |
546.376 |
|
|
|
|
|
|
TOTAL |
3004.272 |
2304.777 |
2190.236 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1119.017 |
1168.053 |
1177.014 |
|
(ii) Intangible Assets |
1.551 |
4.286 |
6.695 |
|
(iii) Capital
work-in-progress |
543.295 |
100.010 |
10.709 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
176.299 |
33.465 |
95.269 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1840.163 |
1305.815 |
1289.687 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
468.630 |
391.482 |
297.732 |
|
(c) Trade receivables |
599.682 |
517.542 |
498.475 |
|
(d) Cash and cash
equivalents |
13.880 |
27.418 |
14.520 |
|
(e) Short-term loans and
advances |
73.011 |
55.824 |
89.822 |
|
(f) Other current assets |
8.906 |
6.696 |
0.000 |
|
Total Current Assets |
1164.109 |
998.962 |
900.549 |
|
|
|
|
|
|
TOTAL |
3004.272 |
2304.777 |
2190.236 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4302.866 |
4181.207 |
3725.665 |
|
|
|
Other Income |
11.833 |
15.444 |
20.071 |
|
|
|
TOTAL (A) |
4314.699 |
4196.651 |
3745.736 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2632.007 |
2577.670 |
2243.380 |
|
|
|
Purchases of Stock-in-Trade |
7.693 |
48.464 |
45.557 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.806 |
(5.526) |
(3.600) |
|
|
|
Employees benefits expense |
148.132 |
118.552 |
109.185 |
|
|
|
Other expenses |
979.180 |
934.620 |
837.681 |
|
|
|
TOTAL (B) |
3767.818 |
3673.780 |
3232.203 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
546.881 |
522.871 |
513.533 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.667 |
66.796 |
52.354 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
534.214 |
456.075 |
461.179 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
88.962 |
86.513 |
83.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
445.252 |
369.562 |
377.271 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
138.379 |
104.489 |
89.764 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
306.873 |
265.073 |
287.507 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
41.298 |
46.484 |
51.027 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
|
1148.285 |
|
|
|
Stores and Spares |
|
|
11.279 |
|
|
|
Capital Goods |
|
|
7.439 |
|
|
TOTAL IMPORTS |
NA |
NA |
1167.003 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
92.10 |
79.56 |
86.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.11 |
6.32 |
7.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.35 |
8.84 |
10.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.09 |
16.76 |
17.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.25 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.36 |
0.24 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
2.07 |
1.65 |
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 |
33.318 |
33.318 |
33.318 |
|
Reserves & Surplus |
1208.638 |
1471.776 |
1778.649 |
|
Net
worth |
1241.956 |
1505.094 |
1811.967 |
|
|
|
|
|
|
long-term borrowings |
123.000 |
30.000 |
0.000 |
|
Short term borrowings |
305.102 |
332.990 |
643.278 |
|
Total
borrowings |
428.102 |
362.990 |
643.278 |
|
Debt/Equity
ratio |
0.345 |
0.241 |
0.355 |
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 |
3725.665 |
4181.207 |
4302.866 |
|
|
|
12.227 |
2.910 |
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 |
3725.665 |
4181.207 |
4302.866 |
|
Profit |
287.507 |
265.073 |
306.873 |
|
|
7.72% |
6.34% |
7.13% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
NA |
0.000 |
57.500 |
|
|
|
|
|
|
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 |
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90225295 |
16/08/2012 * |
721,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE BRANCH, VAPI, GUJARAT - 396195, INDIA |
B56452154 |
|
2 |
90225158 |
30/06/2012 * |
721,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE BRANCH, VAPI, GUJARAT - 396195, INDIA |
B43038009 |
|
3 |
90237453 |
12/12/2005 * |
117,800,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL TOWNSHIP
BRANCH, GIDC, VAPI, GUJARAT - |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
400.000 |
0.000 |
|
Total |
400.000 |
0.000 |
CORPORATE
INFORMATION:
Subject incorporated in the year 1986, is in the business of manufacturing of kraft papers (test liner and fluting papers) and supply of paper and pulp making machineries and their parts.
PERFORMANCE REVIEW:
During the year, the company’s inherent capabilities and superior product quality/delivery stood the company in good stead in a difficult operating environment. Overall, Sales increased by 2.81% though the profitability was under some pressure due to high inflation and increasing costs.
MACHINERY SEGMENT:
The share of machinery division in total sales and profit has also progressively declined in past years.
POWER GENERATION:
The company has generated 406.05 lacs units (KWH) of power during the year against 390.88 lacs (KWH) in the previous year for captive consumption. The company’s main objective is to operate a modern, cost-effective, energy efficient and environment friendly production plant. The management is committed towards Conservation of Energy.
FUTURE OUTLOOK:
The global environment and economic activity is likely to continue to be an area of concern, especially due to depreciation of Indian Rupee against global currencies and inflationary pressures.
Despite this scenario, Indian economy stands on a strong footing because of lower export dependency, favourable demographics and rising middle class income expected to result into improved living standards.
The Indian Packaging industry is set to witness good growth, with policy changes and the growth in Indian retail environment. Increasing urbanization and low penetration of packaged products offers good opportunities.
The Company has embarked on an expansion and setting up a new production line (PM4) with better technology and better product mix. The Machine has already been procured and the civil work for proposed expansion with additional production line (PM#4) has commenced at site. On startup of this Paper Machine, RML will be able to capitalize on its brand image and expand its customer base.
The company has made Environment and Safety a subject of focus. Special efforts are being made at all manufacturing facilities to improve the standards of Environment and Safety.
They are confident that these initiatives will results in a better performance for their company in the coming years.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Other
Equipments
Intangible Assets
· Computer Software
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.60.83 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.