MIRA INFORM REPORT
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Report No. : |
314793 |
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Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
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Name : |
RADIKAL FOODS LIMITED (w.e.f.06.11.2013) |
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Formerly Known
As : |
RADIKAL FOODS PRIVATE LIMITED (w.e.f.01.10.2013) RADIKAL
OVERSEAS PRIVATE LIMITED |
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Registered
Office : |
Radikal House, 28, Community Centre, Saket, New Delhi – 110017 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.06.2009 |
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Com. Reg. No.: |
55-191397 |
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Capital
Investment / Paid-up Capital : |
Rs. 140.975 Millions |
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CIN No.: [Company Identification
No.] |
U15122DL2009PLC191397 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELR17134F |
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PAN No.: [Permanent Account No.] |
AAECR3846A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in Processing and Export of Basmati
Rice. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 88900 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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. Trade relations are fair. Business is active. Payments are reported 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.
ECGC Country Risk Classification List – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Fund Based Limits = BB |
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Rating Explanation |
Inadequate – credit – quality and high
credit risk. |
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Date |
January, 2015 |
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Rating Agency Name |
ICRA |
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Rating |
Non - Fund Based Limits = A4 |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
January, 2015 |
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.: 91-11-26566002)
LOCATIONS
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Registered/ Corporate Office / Headquarter : |
Radikal House, 28, Community Centre, Saket, New Delhi – 110017, India |
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Tel. No.: |
91-11-26566001/ 02/ 03/ 47566000 |
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Fax No.: |
91-11-26566004/ 26566001 |
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E-Mail : |
akhildhariwal@radikaloverseas.com rajendrasingh@radikaloverseas.com |
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Website : |
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Manufacturing Unit : |
Village Bagadpur, Siyana Road, Garh Mukteshwar, District Hapur –
245205, Uttar Pradesh, India |
DIRECTORS
AS ON 30.09.2014
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Name : |
Mr.
Siddharth Chaudhary |
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Designation : |
Managing Director |
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Address : |
D-119,
Ground Floor, Saket, New Delhi – 110 017, India |
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Date of Birth/Age : |
17.09.1987 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
17.07.2009 |
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PAN No.: |
AGEPC1881D |
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DIN No.: |
02272725 |
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Other Directorship :
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Name : |
Mr.
Chandra Prakash Choudhary |
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Designation : |
Director |
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Address : |
D-119,
Ground Floor, Saket, New Delhi – 110 017, India |
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Date of Birth/Age : |
10.10.1963 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
01.07.2010 |
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PAN No.: |
ACOPC6136F |
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DIN No.: |
00054040 |
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Other Directorship :
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Name : |
Mrs. Anju Choudhary |
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Designation : |
Director |
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Address : |
D-119,
Ground Floor, Saket, New Delhi – 110 017, India |
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Date of Birth/Age : |
14.04.1964 |
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Qualification : |
Graduate |
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Date of Appointment : |
19.06.2009 |
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PAN No.: |
ABBPC2597A |
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DIN No.: |
00054061 |
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Other Directorship :
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Name : |
Anindita Chaudhary |
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Designation : |
Director |
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Address : |
D-119,
Ground Floor, Saket, New Delhi – 110 017, India |
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Date of Birth/Age : |
13.07.1986 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
01.05.2010 |
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PAN No.: |
AWSPB5850B |
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DIN No.: |
02993959 |
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KEY EXECUTIVES
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Name : |
Mr. Sachin Kumar |
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Designation : |
Secretary |
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Address : |
96, Govind Park, Jagat Puri, Krishna Nagar, New
Delhi – 110 051, India |
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Date of Birth/Age : |
15.07.1985 |
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Date of Appointment : |
17.01.2013 |
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PAN No.: |
BLRPK7781F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
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Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Anju
Chaudhary |
175000 |
0.88 |
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Siddharth
Chaudhary |
155000 |
0.78 |
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C.
P. Chaudhary |
310000 |
1.56 |
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Anindita
Chaudhary |
100 |
0.00 |
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Radikal
Global Foods (India) Private Limited, India |
18933921 |
95.42 |
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Radikal
Singapore PTE Limited, Singapore |
267756 |
1.35 |
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Bennett
Coleman and Company Limited, India |
10 |
0.00 |
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Total |
19841787 |
100.00 |
AS ON 20.10.2014
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Names of Allottee |
No. of Shares |
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Radikal
Global Foods (India) Private Limited |
113500 |
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Total
|
113500 |
AS ON 30.09.2014
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
1.35 |
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Bodies
corporate |
95.42 |
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Directors
or relatives of directors |
3.23 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is primarily
engaged
in Processing and Export of Basmati Rice. |
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Products/ Services : |
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Brand Names : |
Radikal |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank Of Hyderabad, 17-18, Punj, Essen House, Nehru Place, New Delhi, Delhi - 110017, India · State Bank of India, 14th Floor, Jawahar Vyapar Bhawan, 1 Tolstoy Marg, New Delhi, Delhi - 110001, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vikas Jain and Associates Chartered Accountants |
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Address : |
O-14, 2nd Floor, Amber Tower, S.C. Road, Jaipur, Rajasthan, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFV4320K |
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Holding company : |
Radikal Global Foods (India) Private Limited (CIN
No.: U15400DL2012PTC240090) |
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Associate : |
· Shreedhar Estates Private Limited, India (CIN No.: U80903DL2003PTC121845) ·
Radikal International Private Limited, India
(CIN No.: U51909DL2010PTC200530) · Radikal Impex Private Limited, India (CIN No.: U51909DL2010PTC200791) |
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Others : |
·
Tirumala Vanijya Private limited, India
(CIN No.: U51109DL2006PTC242959) ·
Shreedhar Estates Private Limited, India
(CIN No.: U80903DL2003PTC121845) ·
Radikal International Private Limited,
India ( CIN No.: U51909DL2010PTC200530) · Nilay Nirman Private Limited, India (CIN No. U45400WB2008PTC122764) · Minarva Vyapaar Private Limited, India (CIN No. U51109DL200PTC267549) ·
Kundan Commercial Private Limited, India (CIN
No. U51109DL2005PTC242818 ·
Radikal Impex Private Limited, India (CIN
No.: U51909DL2010PTC200791) |
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Subsidiary company
: |
·
Radikal Global Foods (Maruitius) Private Limited, India ·
Radikal Food Products Private Limited (CIN
No.: U15400DL2012PTC240173) ·
Radikal Agrotech Private Limited (CIN NO.: U01400DL2012PTC240351) |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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19,955,287 |
Equity Shares |
Rs. 10/- each |
Rs. 199.553 Millions |
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AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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14,097,466 |
Equity Shares |
Rs. 10/- each |
Rs. 140.975 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
140.975 |
106.296 |
62.296 |
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(b) Reserves & Surplus |
2463.481 |
1179.395 |
538.114 |
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(c) Money received against share warrants |
0.000 |
30.000 |
0.000 |
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(2) Share
Application money pending allotment |
510.448 |
262.194 |
70.000 |
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Total
Shareholders’ Funds (1) + (2) |
3114.904 |
1577.885 |
670.410 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
1053.304 |
516.687 |
275.168 |
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(b) Deferred tax liabilities (Net) |
96.029 |
5.250 |
5.090 |
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(c)
Other long term liabilities |
179.906 |
14.117 |
0.000 |
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(d)
long-term provisions |
2.839 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
1332.078 |
536.054 |
280.258 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
4938.036 |
3322.252 |
1819.241 |
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(b)
Trade payables |
411.990 |
134.386 |
202.223 |
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(c)
Other current liabilities |
473.337 |
55.072 |
36.793 |
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(d)
Short-term provisions |
340.298 |
57.463 |
54.894 |
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Total
Current Liabilities (4) |
6163.661 |
3569.173 |
2113.151 |
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TOTAL |
10610.643 |
5683.112 |
3063.819 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
1412.623 |
302.549 |
294.991 |
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(ii)
Intangible Assets |
13.758 |
4.493 |
2.998 |
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(iii)
Capital work-in-progress |
325.572 |
291.743 |
13.262 |
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(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
166.487 |
0.300 |
0.000 |
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(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan
and Advances |
119.564 |
214.403 |
25.866 |
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(e)
Other Non-current assets |
288.470 |
129.746 |
1.741 |
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Total
Non-Current Assets |
2326.474 |
943.234 |
338.858 |
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(2) Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
7572.126 |
4137.358 |
2372.136 |
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(c)
Trade receivables |
510.360 |
438.512 |
228.246 |
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(d)
Cash and cash equivalents |
45.088 |
31.589 |
12.092 |
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(e)
Short-term loans and advances |
61.254 |
37.587 |
14.644 |
|
(f)
Other current assets |
95.341 |
94.832 |
97.843 |
|
Total
Current Assets |
8284.169 |
4739.878 |
2724.961 |
|
|
|
|
|
|
TOTAL |
10610.643 |
5683.112 |
3063.819 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12501.948 |
5587.474 |
3445.224 |
|
|
|
Other Income |
89.724 |
60.326 |
23.05 |
|
|
|
TOTAL |
12591.672 |
5647.800 |
3468.274 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
11407.453 |
5198.329 |
3373.283 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2093.397) |
(721.476) |
(587.028) |
|
|
|
Employees benefits expense |
92.536 |
43.386 |
22.413 |
|
|
|
Other expenses |
1243.509 |
383.377 |
229.179 |
|
|
|
Prior period items |
5.105 |
0.728 |
1.72 |
|
|
|
TOTAL |
10655.206 |
4904.344 |
3039.567 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1936.466 |
743.456 |
428.707 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
604.670 |
387.4 |
202.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1331.796 |
356.056 |
225.799 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
87.224 |
44.484 |
44.38 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1244.572 |
311.572 |
181.419 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
500.190 |
66.292 |
64.975 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
744.382 |
245.280 |
116.444 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
1282.307 |
874.846 |
816.146 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
58.77 |
33.47 |
24.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.95 |
4.39 |
3.38 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
15.49 |
13.31 |
12.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.30 |
5.78 |
5.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.20 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.92 |
2.43 |
3.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.33 |
1.29 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
62.296 |
106.296 |
140.975 |
|
Reserves & Surplus |
538.114 |
1179.395 |
2463.481 |
|
Share Application money
pending allotment |
70.000 |
262.194 |
510.448 |
|
Net
worth |
670.410 |
1547.885 |
3114.904 |
|
|
|
|
|
|
long-term borrowings |
275.168 |
516.687 |
1053.304 |
|
Short term borrowings |
1819.241 |
3322.252 |
4938.036 |
|
Total
borrowings |
2094.409 |
3838.939 |
5991.340 |
|
Debt/Equity
ratio |
3.124 |
2.480 |
1.923 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3445.224 |
5587.474 |
12501.948 |
|
|
|
62.180 |
123.750 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3445.224 |
5587.474 |
12501.948 |
|
Profit |
116.444 |
245.280 |
744.382 |
|
|
3.38% |
4.39% |
5.95% |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10557563 |
27/03/2015 |
1,010,000,000.00 |
STATE BANK OF
HYDERABAD |
17-18, PUNJ, ESSEN
HOUSE, NEHRU PLACE, NEW DELHI, |
C47995139 |
|
2 |
10402663 |
07/02/2013 |
700,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, 14, 15 FLOOR JAWAHAR V |
B67958231 |
|
3 |
10379705 |
24/06/2014 * |
6,750,000,000.00 |
STATE BANK OF
INDIA |
14TH FLOOR, JAWAHAR
VYAPAAR BHAWAN, 1 TOLSTOY MAR |
C09730367 |
|
4 |
10191234 |
06/09/2014 * |
580,000,000.00 |
STATE BANK OF
INDIA |
14TH FLOOR,
JAWAHAR VYAPAR BHAWAN, 1 TOLSTOY MARG |
C23506355 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS | |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Other Loans and Advances |
0.000 |
70.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Other Loans and Advances |
0.000 |
150.000 |
|
|
|
|
|
Total |
0.000 |
220.000 |
COMPANY OVERVIEW
"Radikal Foods Limited is a Limited company (Formerly known as 'Radikal
Overseas Pvt Ltd.') incorporated under the Companies Act, 1956. Corporate
Identity No. of the company is U15122DL2009PTC191397. The Company, which
intends to become a global packaged foods business with a larger branded food
product portfolio, is primarily engaged in processing and export of Basmati
Rice. Its 'Radikal' branded products are available in over 45 countries
including Europe, India, Africa, US, UAE, Oman, Kuwait, Qatar and Saudi Arabia,
etc. The company has set up a state of the art plant at Garh Mukteshwar, in
Uttar Pradesh. A combination of factors like strong procurement base, state of
art manufacturing at its owned plants, innovative packaging, distribution
model, contemporary wholesome marketing strategy, has made Radikal and its products
resonate well with its ever increasing customer base in India and overseas.
FINANCIAL REVIEW
During the year the Company has achieved total revenue of INR 12591.700
Millions as against INR 5647.800 Millions in the previous year, an increase of
almost 123.74%, over the last year. During the year, net profit of the Company
is increased to INR 744.400 Millions in comparison to net profit of INR 245.300
Millions in the previous year showing an increment of 203.47%. The Directors of
the Company are optimist and envisage further increase in the sales in the
coming years.
FIXED ASSETS:
·
Buildings
·
Plant and Equipment
·
Factory Equipment’s
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipment’s
·
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. 62.59 |
|
|
1 |
Rs. 92.46 |
|
Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.