MIRA
INFORM REPORT
|
Report Date : |
19.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
LUBRIZOL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, VIP House, 88-C, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
20.07.1966 |
|
|
|
|
Com. Reg. No.: |
11-013538 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 192.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201MH1966PTC013538 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL0126H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Chemical
Additives, Polymers Additives, Organic Surface Active Agent-Additives etc. |
|
|
|
|
No. of Employees
: |
Information declined by the 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 |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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. Payment
terms 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
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 willfully 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
November 19, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
November 19, 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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-22-24300784]
LOCATIONS
|
Registered Office : |
2nd Floor, VIP House, 88-C, Old Prabhadevi Road, Mumbai – 400025,
Maharashtra, India |
|
Tel. No.: |
91-22-24300672/
66255100 |
|
Fax No.: |
91-22-24300251 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
9/3, Thane-Belapur Road, Turbhe, Navi Mumbai – 400705, Maharashtra,
India |
|
Tel. No.: |
91-22-67759000 |
|
Fax No.: |
91-22-67759411 |
DIRECTORS
AS ON 25.06.2014
|
Name : |
Mr. Madhukar Ramniklal Kumbhani |
|
Designation : |
Managing director |
|
Address : |
99, Dariya Mahal B, 80, Nepean Sea Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
04.02.1950 |
|
Date of Appointment : |
01.10.2006 |
|
PAN No.: |
ADGPK4376P |
|
DIN No.: |
01902492 |
|
|
|
|
Name : |
Mr. Gyan Chand Daga |
|
Designation : |
Director |
|
Address : |
42, Casa Grande Little Gibbs Road, Malabar Mills, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
08.09.1951 |
|
Date of Appointment : |
28.11.2011 |
|
DIN No.: |
00101534 |
|
|
|
|
Name : |
Mr. David James Fries |
|
Designation : |
Director |
|
Address : |
2051, Ridgebury Drive, Painsville, OH – 44077 USA |
|
Date of Birth/Age : |
14.02.1959 |
|
Date of Appointment : |
22.07.2004 |
|
DIN No.: |
00655276 |
|
|
|
|
Name : |
Mr. Ravinder Kumar Malhotra |
|
Designation : |
Director |
|
Address : |
303, A.G.C.R. Enclave, New Delhi – 110092, India |
|
Date of Birth/Age : |
25.06.1954 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
02024661 |
|
|
|
|
Name : |
Mr. John Louis Petric |
|
Designation : |
Director |
|
Address : |
9277 Regency Woods, Kirtland, OH, OHIO, 44094, United States of
America |
|
Date of Birth/Age : |
07.05.1951 |
|
Date of Appointment : |
11.06.2009 |
|
DIN No.: |
02703611 |
|
|
|
|
Name : |
Mr. Vishwa Nath Garg |
|
Designation : |
Director |
|
Address : |
R-236, Indian Oil Nagar, Andheri (West), J P Road, Mumbai – 400053,
Maharashtra, India |
|
Date of Birth/Age : |
03.03.1959 |
|
Date of Appointment : |
01.08.2013 |
|
PAN No.: |
AAAPG5671P |
|
DIN No.: |
06658776 |
|
|
|
|
Name : |
Darius Cavasji Shroff |
|
Designation : |
Alternate director |
|
Address : |
Moonlight, Flat No.8, 158, M. Karve Road, Churchgate, Mumbai – 400020,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1944 |
|
Date of Appointment : |
22.07.2004 |
|
DIN No.: |
00170680 |
|
|
|
|
Name : |
Mr. Vijay Kumar Gupta |
|
Designation : |
Alternate director |
|
Address : |
V-33, Green Park, Delhi – 110016, India |
|
Date of Birth/Age : |
04.06.1954 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
03613222 |
KEY EXECUTIVES
|
Name : |
Mrs. Indulekha Nitin Godse |
|
Designation : |
Secretary |
|
Address : |
JN-4/10/14, Blue Haven, Sector 10, Vashi, Navi Mumbai – 400703,
Maharashtra, India |
|
Date of Birth/Age : |
02.09.1963 |
|
Date of Appointment : |
01.12.2004 |
|
PAN No.: |
ACCPG6775A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.06.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
The Lubrizol Corporation, U.S.A. |
960000 |
50.00 |
|
Indian Oil Corporation Limited, India |
960000 |
50.00 |
|
|
|
|
|
Total |
1920000 |
100.00 |
AS ON 25.06.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Government companies |
50.00 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
50.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Chemical
Additives, Polymers Additives, Organic Surface Active Agent-Additives etc. |
||||||||
|
|
|
||||||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
· State Bank of India Commercial Branch, Justice G.N. Vaidya Marg, Mumbai - 400023, Maharashtra, India · ICICI Bank Limited Bank of India Corporation Bank HDFC Bank Limited Union Bank of India Kotak Mahindra Bank Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli,
Mumbai – 400018, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Joint Ventures : |
· Lubrizol Corporation Indian Oil Corporation Limited [L23201MH1959GOI011388] |
CAPITAL STRUCTURE
AS ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,920,000 |
Equity Shares |
Rs. 100/- each |
Rs. 192.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,920,000 |
Equity Shares |
Rs. 100/- each |
Rs. 192.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
192.000 |
192.000 |
192.000 |
|
(b) Reserves & Surplus |
3519.714 |
3005.668 |
2868.350 |
|
(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) |
3711.714 |
3197.668 |
3060.350 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.062 |
0.055 |
0.053 |
|
(b) Deferred tax liabilities (Net) |
44.893 |
39.795 |
34.631 |
|
(c) Other long
term liabilities |
5.932 |
4.441 |
3.325 |
|
(d) long-term
provisions |
175.212 |
180.776 |
163.136 |
|
Total Non-current
Liabilities (3) |
226.099 |
225.067 |
201.145 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
763.448 |
499.392 |
513.069 |
|
(c)
Other current liabilities |
242.151 |
175.259 |
114.212 |
|
(d) Short-term
provisions |
679.591 |
563.079 |
677.303 |
|
Total Current
Liabilities (4) |
1685.190 |
1237.730 |
1304.584 |
|
|
|
|
|
|
TOTAL |
5623.003 |
4660.465 |
4566.079 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1125.071 |
1003.912 |
835.630 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
168.560 |
141.956 |
72.747 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
104.185 |
113.770 |
71.132 |
|
(e) Other
Non-current assets |
1.665 |
1.665 |
1.665 |
|
Total Non-Current
Assets |
1399.481 |
1261.303 |
981.174 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2485.545 |
1865.210 |
1745.322 |
|
(c)
Trade receivables |
966.219 |
812.372 |
873.599 |
|
(d) Cash
and cash equivalents |
575.172 |
628.623 |
883.267 |
|
(e)
Short-term loans and advances |
193.640 |
87.090 |
65.867 |
|
(f)
Other current assets |
2.946 |
5.867 |
16.850 |
|
Total
Current Assets |
4223.522 |
3399.162 |
3584.905 |
|
|
|
|
|
|
TOTAL |
5623.003 |
4660.465 |
4566.079 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
9447.299 |
8528.086 |
8278.132 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1935.667 |
1805.564 |
2127.509 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1935.667 |
1805.564 |
2127.509 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
136.229 |
110.946 |
93.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1799.438 |
1694.618 |
2034.283 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
611.498 |
553.137 |
644.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1187.940 |
1141.481 |
1390.267 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
604.884 |
581.713 |
446.210 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
118.794 |
114.148 |
139.027 |
|
|
|
Interim Dividend |
0.000 |
384.000 |
384.000 |
|
|
|
Tax on Interim Dividend |
0.000 |
62.294 |
62.295 |
|
|
|
Proposed Final Dividend |
576.000 |
480.000 |
576.000 |
|
|
|
Tax on Proposed Dividend |
97.891 |
77.868 |
93.442 |
|
|
BALANCE CARRIED
TO THE B/S |
1000.139 |
604.884 |
581.713 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports |
1345.309 |
733.661 |
805.975 |
|
|
|
Commission Income |
20.299 |
17.873 |
17.832 |
|
|
|
Discount Income |
1.940 |
0.927 |
1.009 |
|
|
TOTAL EARNINGS |
1367.548 |
752.461 |
824.816 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1392.442 |
1170.496 |
739.208 |
|
|
|
Intermediates |
1669.292 |
1810.180 |
1407.406 |
|
|
|
Traded |
4.425 |
10.010 |
10.858 |
|
|
|
Stores and Spares |
3.759 |
13.579 |
8.742 |
|
|
|
Capital Goods |
11.684 |
46.912 |
27.594 |
|
|
TOTAL IMPORTS |
3081.602 |
3051.177 |
2193.808 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
618.72 |
594.52 |
724.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
32.99 |
37.50 |
45.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.53 |
0.66 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51 |
2.75 |
2.75 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
192.000 |
192.000 |
192.000 |
|
Reserves & Surplus |
2868.350 |
3005.668 |
3519.714 |
|
Net
worth |
3060.350 |
3197.668 |
3711.714 |
|
|
|
|
|
|
Long-term borrowings |
0.053 |
0.055 |
0.062 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.053 |
0.055 |
0.062 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Income |
8278.132 |
8528.086 |
9447.299 |
|
|
|
3.019 |
10.779 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Income |
8278.132 |
8528.086 |
9447.299 |
|
Profit |
1390.267 |
1141.481 |
1187.940 |
|
|
16.79% |
13.38% |
12.57% |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10137422 |
21/11/2008 |
120,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
OPP. SHIVAJI VIDYALAYA, DADAR |
A54505193 |
UNSECURED LOANS
|
UNSECURED LOANS |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.062 |
0.055 |
|
|
|
|
|
Total |
0.062 |
0.055 |
PERFORMANCE
Competitive intensity is increasing with more players entering the Indian market. The continuing depreciation of the Indian Rupee has increased costs significantly. These factors, amongst others, have unfavorably impacted domestic sales volume and margins. The Company's profit before tax in 2013 was 6.5% higher than in 2012, only due to increased export volumes to Lubrizol Corporation. Profit in 2013 is at same level as in 2010 and 10% below peak in 2011.
The Company is making significant capital expenditures to
upgrade its facilities.
SALES AND MARKETING
Domestic sales volume in 2013 is 1.92% lower than in 2012.
Export sales volume in 2013 is 75.07% higher than in 2012 due to spot orders
placed by LZ affiliates. Your company expects future export sales to be lower
in coming years.
CONTINGENT
LIABILITIES:
|
Particulars |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
|
(a) Disputed Statutory Claims in appeal : |
|
|
|
(i) Central Excise, Service Tax, Customs and Sales tax |
35.250 |
42.661 |
|
(ii) Income Tax |
107.835 |
74.023 |
|
(b) Claims against the Company not acknowledged as debts |
6.800 |
6.800 |
|
|
|
|
|
Total |
149.885 |
123.484 |
FIXED ASSETS:
· Land
Buildings
Office
building
Plant
and equipment
Factory
equipments
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
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. 61.06 |
|
|
1 |
Rs. 99.55 |
|
Euro |
1 |
Rs. 78.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
DEFAULTERS |
|
|
|
--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.