MIRA
INFORM REPORT
|
Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAIRAV CHEMO FARBE INDUSTRIES LIMITED |
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Registered
Office : |
6, Kitab Mahal, 192, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.12.1983 |
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Com. Reg. No.: |
11-031523 |
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Capital
Investment / Paid-up Capital : |
Rs.120.000 Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U24110MH1983PLC031523 |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of
specialised fine chemical. |
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No. of Employees
: |
220 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track. Reserves of
the company seems to be low during 2013. However, trade relations are fair. Business is active. Payments are reported
to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of Investigation
books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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 PARTED BY
|
Name : |
Mr. Amit Mody |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-25968361 |
|
Date : |
15.09.2014 |
LOCATIONS
|
Registered Office : |
6, Kitab Mahal, 192, D.N. Road, Mumbai-400001, Maharashtra, India |
|
Tel. No.: |
91-22-22010930/22010935 |
|
Fax No.: |
91-22-22010918 |
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E-Mail : |
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|
Location: |
Owned |
|
|
|
|
Factory : |
J77, MIDC, Taloja, Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Arun Mohanlal Doshi |
|
Designation : |
Whole Time Director |
|
Address : |
13, Yogniti, 18, S.V. Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
27.07.1946 |
|
Date of Appointment : |
08.12.1983 |
|
Din No.: |
00786570 |
|
|
|
|
Name : |
Mrs. Aarti Arun Doshi |
|
Designation : |
Director |
|
Address : |
13, Yogniti, 18, S.V. Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
08.06.1949 |
|
Date of Appointment : |
08.12.1988 |
|
Din No.: |
01739520 |
|
|
|
|
Name : |
Mr. Virendra Jayantilal Sutaria |
|
Designation : |
Director |
|
Address : |
801-B, Devraj, E/27, Opposite NRI Tower, Judges Bunglow Road, Ahmedabad-380059,
Gujarat India |
|
Date of Birth/Age : |
16.09.1946 |
|
Date of Appointment : |
25.02.2002 |
|
Din No.: |
02269189 |
|
|
|
|
Name : |
Mr. Vishwas Gopal Navare |
|
Designation : |
Director |
|
Address : |
Flat No. 41, Tarangan Tower, 1, Cadbury Compound, Pokhran-1,
Thane-400606, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1953 |
|
Date of Appointment : |
01.10.2008 |
|
Din No.: |
02134013 |
|
|
|
|
Name : |
Mr. Kairav Arunkumar Doshi |
|
Designation : |
Director |
|
Address : |
13, Yogniti, 18, S.V. Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
19.07.1982 |
|
Date of Appointment : |
01.10.2008 |
|
Din No.: |
02345096 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Arun Mohanlal Doshi |
|
7035930 |
|
Aarti Arun Doshi |
|
1900860 |
|
Dhansukh Mohanlal Doshi |
|
202 |
|
Ashwin Mohanlal Doshi |
|
202 |
|
Dhaval Arun Doshi |
|
245302 |
|
Jalpa Arun Doshi |
|
50002 |
|
Kairav Arun Doshi |
|
2757500 |
|
Rajnikant N. Kanakia |
|
1 |
|
Virendra Jayantilal Sutaria |
|
10001 |
|
|
|
|
|
TOTAL
|
|
12000000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of specialised fine chemical. |
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Exports : |
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Products : |
Specialised fine chemical |
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Countries : |
·
South Korea ·
Europe |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Saudi Arabia ·
Singapore |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Reliance Industries Limited |
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Customers : |
Wholesalers and Retailers ·
Sun Pharma Limited |
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No. of Employees : |
220 (Approximately) |
|||||||||||||||||||||||||||
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Bankers : |
·
Axis Bank Limited, Ground Floor, Axis House,
Bombay Dyeing Mills Compound, P B Marg, Worli, Mumbai - 400025, Maharashtra,
India ·
The Hong Kong and Shanghai Banking Corporation
Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra,
India ·
Central Bank of India Boribunder Branch, Kitab
Mahal, Dr. D N Road, Mumbai - 400001, Maharashtra, India |
|||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Mehta Bharat and Associates Chartered Accountants |
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Address : |
16, Vasant Niwas, Nehru Road, Vile Parle (East), Mumbai-400057, Maharashtra,
India |
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PAN No: |
AAEPM6603R |
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|
|
|
Other Related Parties : |
·
Vishwas Management Consultant ·
Chemofarbe Industries ·
Lotus Roadways ·
Doshi and Sons ·
R.K. Corporation ·
Dhaval Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 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 |
120.000 |
100.000 |
60.000 |
|
(b) Reserves & Surplus |
74.112 |
47.603 |
27.552 |
|
(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) |
194.112 |
147.603 |
87.552 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
49.372 |
29.642 |
25.862 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
6.988 |
5.450 |
4.037 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
56.360 |
35.092 |
29.899 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
252.074 |
177.818 |
87.088 |
|
(b)
Trade payables |
85.958 |
82.373 |
57.853 |
|
(c)
Other current liabilities |
10.344 |
3.523 |
2.537 |
|
(d) Short-term
provisions |
17.633 |
11.687 |
3.880 |
|
Total Current
Liabilities (4) |
366.009 |
275.401 |
151.358 |
|
|
|
|
|
|
TOTAL |
616.481 |
458.096 |
268.809 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
114.629 |
96.554 |
82.498 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
6.046 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.097 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
120.772 |
96.554 |
82.498 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
197.503 |
145.372 |
88.707 |
|
(c)
Trade receivables |
200.284 |
167.760 |
91.859 |
|
(d) Cash
and cash equivalents |
32.869 |
12.840 |
(13.341) |
|
(e)
Short-term loans and advances |
65.051 |
35.567 |
19.077 |
|
(f)
Other current assets |
0.002 |
0.003 |
0.009 |
|
Total
Current Assets |
495.709 |
361.542 |
186.311 |
|
|
|
|
|
|
TOTAL |
616.481 |
458.096 |
268.809 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1267.541 |
1021.580 |
658.017 |
|
|
|
Other Income |
8.498 |
3.133 |
0.541 |
|
|
|
TOTAL (A) |
1276.039 |
1024.713 |
658.558 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1005.119 |
789.590 |
530.131 |
|
|
|
Employee benefit expense |
15.377 |
10.104 |
11.134 |
|
|
|
Other expenses |
230.975 |
174.886 |
103.410 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(62.712) |
(20.438) |
(26.392) |
|
|
|
TOTAL (B) |
1188.759 |
954.142 |
618.283 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
87.280 |
70.571 |
40.275 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.900 |
28.947 |
17.782 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
54.380 |
41.624 |
22.493 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.800 |
10.560 |
7.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
41.580 |
31.064 |
14.938 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.071 |
11.014 |
4.873 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
26.509 |
20.050 |
10.065 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
47.603 |
27.552 |
17.487 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
74.111 |
47.603 |
27.552 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.21 |
2.01 |
1.68 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1440.000 |
Expected Sales (2014-2015) : Rs.1800.000 Millions
The above information has been parted by Mr. Amit Mody (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.07
|
1.95 |
1.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.28
|
3.04 |
2.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.81
|
6.78 |
5.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.21 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.55
|
1.41 |
1.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.31 |
1.23 |
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 |
120.000 |
100.000 |
60.000 |
|
Reserves & Surplus |
74.112 |
47.603 |
27.552 |
|
Net
worth |
194.112 |
147.603 |
87.552 |
|
|
|
|
|
|
long-term borrowings |
25.862 |
29.642 |
49.372 |
|
Short term borrowings |
87.088 |
177.818 |
252.074 |
|
Total
borrowings |
112.950 |
207.460 |
301.446 |
|
Debt/Equity
ratio |
0.582 |
1.406 |
3.443 |
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 |
658.017 |
1021.580 |
1267.541 |
|
|
|
55.251 |
24.077 |
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 |
658.017 |
1021.580 |
1267.541 |
|
Profit |
10.065 |
20.050 |
26.509 |
|
|
1.53% |
1.96% |
2.09% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: 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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S.
NO. |
CHARGE
ID |
DATE
OF CHARGE CREATION/MODIFICATION |
CHARGE
AMOUNT SECURED |
CHARGE
HOLDER |
ADDRESS |
SERVICE
REQUEST NUMBER (SRN) |
|
1 |
10442585 |
05/02/2013 |
60,000,000.00 |
THE HONG
KONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60,
MAHATMA GANDHI ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
B76201433 |
|
2 |
10387396 |
08/11/2012 |
20,000,000.00 |
AXIS
BANK LIMITED |
CORPROATE
BANKING BRANCH,AXIS HOUSE,GR FLOOR, BOM |
B62302682 |
|
3 |
10322516 |
10/01/2014
* |
437,000,000.00 |
AXIS
BANK LIMITED |
GROUND
FLOOR, AXIS HOUSE,, BOMBAY DYEING MILLS COMPOUND, P B MARG, WORLI, MUMBAI - 400025,
MAHARASHTRA, INDIA |
B94666005 |
|
4 |
10285071 |
03/12/2013
* |
381,500,000.00 |
AXIS
BANK LIMITED |
GROUND
FLOOR, AXIS HOUSE,, BOMBAY DYEING MILLS COMPOUND, P B MARG, WORLI, MUMBAI -
400025, MAHARASHTRA, INDIA |
B91257220 |
|
5 |
10285072 |
30/03/2011 |
17,500,000.00 |
AXIS
BANK LIMITED |
DHIRAJ
BAUG, LBS MARG,, NEAR HARINIWAS CIRCLE, THANE (WEST), MUMBAI - 400602,
MAHARASHTRA, INDIA |
B12004578 |
|
6 |
10285073 |
30/03/2011 |
18,000,000.00 |
AXIS
BANK LIMITED |
DHIRAJ
BAUG, LBS MARG,, NEAR HARINIWAS CIRCLE, THANE (WEST), MUMBAI - 400602,
MAHARASHTRA, INDIA |
B12005013 |
|
7 |
10258212 |
22/11/2010 |
3,773,026.00 |
RELIANCE
CAPITAL LTD |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI -
400710, MAHARASHTRA, INDIA |
B00588657 |
|
8 |
10386399 |
31/08/2010 |
3,000,000.00 |
CENTRAL
BANK OF INDIA |
BORIBUNDER
BRANCH, KITAB MAHAL, DR D N ROAD, MUMBAI - 400001, MAHARASHTRA, INDIA |
B02548196 |
|
* Date of charge modification |
||||||
BUSINESS ACTIVITY AND PERFORMANCE:
The company is
manufacturing chemicals namely, 1-4 Dioxane, 1-3 Dioxlone, Dibultile Ether,
Mythalyl, Monoglyme, Dyglyme, Ad mixture construction chemical etc., at the
factory situated at MIDC, Taloja, Maharashtra.
Total revenue of
company increased from of Rs.10.730 Millions in Financial Year 2011-12 to
13.405 (Including Excise Duty) Millions in the financial year 2012-13. Earnings
before interest, Tax, Depreciation and Amortization (EBITD) increased by 23.68%
to 87.280 Millions in the financial Year 2012-13 as compared to Last Year.
Profit before Tax (PBT) for the year increased by 33.85% to Rs.41.580 Millions
In the financial year 2012-13 as compared to last year. Profit after tax for
the year at Rs.26.509 Millions higher by 32.21% over the last year (Rs.20.050
Millions).
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.61.10 |
|
|
1 |
Rs.99.05 |
|
Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.