MIRA INFORM REPORT
|
Report No. : |
315637 |
|
Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
COGENT GLASS LIMITED |
|
|
|
|
Registered
Office : |
Vemula Village, Addakal (M), Mahabubnagar - 509001, Telangana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.11.2009 |
|
|
|
|
Com. Reg. No.: |
065810 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1186.104 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26100TG2009PLC065810 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDC04437G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC7815K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged primarily in the business of Manufacturing and Selling of Borosilicate Type-I Glass moulded vials, glass tubes, glass tubular vials and ampoules. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1834000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s weak operational risk
profile and huge accumulated losses incurred by the company. 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Long term issuer rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
27.02.2015 |
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 DENIED
Management Non-Cooperative
Contact No.: 91-40-42628051
LOCATIONS
|
Registered Office / Factory : |
Vemula Village, Addakal (M), Mahabubnagar - 509001,
Telangana, India |
|
Tel. No.: |
91- 8542-286172/286173/286174/286175
|
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office 1 : |
Sy. No. 66 (Part) and 67 (Part), Miyapur, Serrilingampally Mandal,
Hyderabad – 500050, Telangana, India |
|
Tel. No.: |
91-40-42628051 |
|
Mobile No.: |
91-9963579307 (Mr. Y R Murty) |
|
Fax No.: |
91-40-42305947 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office 2 : |
Plot No. 105 and 109, 1st Floor, Hema Dur, Opposite Allwayn
Colony, Milyapur, Serrilingampally Mandal, Hyderabad – 500050, Telangana,
India |
|
|
|
|
Branch : |
#1-121/1 Milyapur Sertilingampally, Hyderabad – 500050, Telangana,
India |
|
|
|
|
Empowering Pharma Primary Packaging : |
4th Floor , Water Mark Building , Opposite to
Mahindra Satyam ,Hitech city , Hyderabad- 500081, Telangana ,
India |
|
Tel. No.: |
91-40-4334 9999 |
DIRECTORS
AS ON: 29.09.2014
|
Name : |
Mr. Iqbal Sardar Singh |
|
Designation : |
Director |
|
Address : |
Mirra Mansion, Opposite JPN Colony, Miyapur, Hyderabad – 500050,
Telangana, India |
|
Date of Birth/Age : |
13.08.1961 |
|
PAN No. : |
AFVPS5233H |
|
Date of Appointment : |
13.11.2009 |
|
DIN No. : |
00050365 |
|
|
|
|
Name : |
Mr. Mettu Madan Mohan Reddy |
|
Designation : |
Director |
|
Address : |
H. No. 101, Madhura Nagar, Ameerpet, Hyderabad – 500038, Telangana,
India |
|
Date of Birth/Age : |
01.06.1960 |
|
PAN No. : |
AFLPM3932R |
|
Date of Appointment : |
13.11.2009 |
|
DIN No. : |
01284266 |
|
Name : |
Frederic Barbier |
|
Designation : |
Director |
|
Address : |
16, Rue De L'abreuvoir, Floor 5, Door 4, Courbevoie – 92400, France |
|
Date of Birth/Age : |
08.02.1975 |
|
Date of Appointment : |
11.12.2013 |
|
DIN No. : |
05325490 |
|
|
|
|
Name : |
Mr. Ashok Sudan |
|
Designation : |
Director |
|
Address : |
2620 Valley View Drive, Lancaster, PA, Lancaster – 17601, USA |
|
Date of Birth/Age : |
04.04.1953 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
02374967 |
|
|
|
|
Name : |
Laurent Claude Philippe Pierre Zuber |
|
Designation : |
Director |
|
Address : |
10 B, AV Casmir, Asnieres Sur Seine, France - 92600 |
|
Date of Birth/Age : |
28.03.1958 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
05325516 |
|
|
|
|
Name : |
Jean Joseph Pierre Georges Rollier |
|
Designation : |
Director |
|
Address : |
1 Berber Road, London – SW116RZ, United Kingdom |
|
Date of Birth/Age : |
14.06.1973 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No. : |
06569867 |
KEY EXECUTIVES
|
Name : |
Bachu Ravi |
|
Designation : |
Secretary |
|
Address : |
4th Floor, Water Mark Building, Opposite to Mahindra Satyam, Hitech City, Hyderabad - 500081, Telangana, India |
|
Date of Appointment : |
18.03.2014 |
|
PAN No.: |
AGVPB9341A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Netherlands Glass Investment BV, Netherlands
|
|
87643135 |
|
Prevesha Industries Private Limited, India |
|
1308844 |
|
P Sarath Chandra Reddy |
|
5000 |
|
P Rohit Reddy |
|
5000 |
|
Madan Mohan Reddy |
|
1242355 |
|
M Srivani |
|
133502 |
|
M. Sumanth Kumar Reddy |
|
674317 |
|
Sardar Iqbal Singh |
|
6193975 |
|
P. Suneela Rani |
|
14377913 |
|
K. Rajeswari |
|
3030237 |
|
K. Spoorthi |
|
3995117 |
|
Ram Prasad Reddy |
|
1000 |
|
|
|
|
|
Total |
|
118610395 |
AS ON: 29.09.2014
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 |
73.89 |
|
Bodies corporate |
1.10 |
|
Directors or relatives of Directors |
25.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged primarily in the business of Manufacturing and Selling of Borosilicate Type-I Glass moulded vials, glass tubes, glass tubular vials and ampoules. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
8-2-618/2, Reliance Humsafar, 4th Floor, Road No 11, Banjara Hills, Hyderabad, Telangana, India |
|
PAN No. : |
AADFB6889R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company: |
Netherlands Glass Investments B.V. |
|
|
|
|
Fellow Subsidiary
company : |
SGD SA |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management
personnel and their relatives : |
|
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
122,250,000 |
Equity Shares |
Rs.10/- each |
Rs. 1222.500 Million |
|
400,000 |
Preference Shares |
Rs.100/- each |
Rs. 40.000 Million |
|
|
Total |
|
Rs. 1262.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
118,610,395 |
Equity Shares |
Rs.10/- each |
Rs. 1186.104 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1186.104 |
679.465 |
31.800 |
|
(b) Reserves & Surplus |
(580.655) |
(48.105) |
0.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
36.396 |
0.000 |
324.736 |
|
Total
Shareholders’ Funds (1) + (2) |
641.845 |
631.360 |
356.536 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
422.690 |
349.766 |
212.819 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.796 |
1.842 |
0.000 |
|
Total Non-current
Liabilities (3) |
425.486 |
351.608 |
212.819 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
78.823 |
40.985 |
374.013 |
|
(b) Trade
payables |
147.321 |
19.429 |
4.882 |
|
(c) Other
current liabilities |
945.492 |
889.519 |
76.051 |
|
(d) Short-term
provisions |
1.382 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
1173.018 |
949.933 |
454.946 |
|
|
|
|
|
|
TOTAL |
2240.349 |
1932.901 |
1024.301 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1657.987 |
1729.054 |
23.176 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
703.621 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
22.500 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
99.746 |
8.988 |
2.329 |
|
(e) Other
Non-current assets |
3.062 |
1.074 |
87.725 |
|
Total Non-Current
Assets |
1760.795 |
1761.616 |
816.851 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
166.840 |
53.651 |
19.785 |
|
(c) Trade
receivables |
129.950 |
0.803 |
0.000 |
|
(d) Cash
and cash equivalents |
150.631 |
67.848 |
51.374 |
|
(e)
Short-term loans and advances |
19.919 |
46.689 |
136.253 |
|
(f) Other
current assets |
12.214 |
2.294 |
0.038 |
|
Total
Current Assets |
479.554 |
171.285 |
207.450 |
|
|
|
|
|
|
TOTAL |
2240.349 |
1932.901 |
1024.301 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
488.234 |
0.680 |
1.178 |
|
|
|
Other Income |
7.892 |
25.063 |
0.000 |
|
|
|
TOTAL |
496.126 |
25.743 |
1.178 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
538.558 |
53.303 |
0.370 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(79.196) |
(31.659) |
0.000 |
|
|
|
Employee benefit expense |
117.199 |
10.888 |
17.221 |
|
|
|
Payment to auditors |
0.000 |
0.000 |
0.050 |
|
|
|
Other expenses |
277.251 |
15.604 |
27.965 |
|
|
|
TOTAL |
853.812 |
48.136 |
45.606 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(357.686) |
(22.393) |
(44.428) |
||
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
149.861 |
9.671 |
41.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(507.547) |
(32.064) |
(86.264) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
153.332 |
16.041 |
1.310 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
(660.879) |
(48.105) |
(87.574) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.098) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(660.781) |
(48.105) |
(87.574) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(6.49) |
(1.84) |
(27.54) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
(135.34) |
(7074.26) |
(7434.13) |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
(73.26) |
(3293.09) |
(3771.48) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(29.50) |
(2.52) |
(27.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.03) |
(0.08) |
(0.25) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78 |
0.62 |
1.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.41 |
0.18 |
0.46 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
31.800 |
679.465 |
1186.104 |
|
Reserves & Surplus |
0.000 |
(48.105) |
(580.655) |
|
Share Application money pending allotment |
324.736 |
0.000 |
36.396 |
|
Net worth |
356.536 |
631.360 |
641.845 |
|
|
|
|
|
|
long-term borrowings |
212.819 |
349.766 |
422.690 |
|
Short term borrowings |
374.013 |
40.985 |
78.823 |
|
Total borrowings |
586.832 |
390.751 |
501.513 |
|
Debt/Equity ratio |
1.646 |
0.619 |
0.781 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1.178 |
0.680 |
488.234 |
|
|
|
(42.275) |
71,699.118 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1.178 |
0.680 |
488.234 |
|
Profit/ Loss |
(87.574) |
(48.105) |
(660.781) |
|
|
(7434.13%) |
(7074.26%) |
(135.34%) |
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 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
0.000 |
20.400 |
|
Other loans and advances, others |
0.000 |
17.800 |
|
Total |
0.000 |
38.200 |
INDEX CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10387163 |
05/11/2014 * |
1,385,500,000.00 |
STATE BANK OF INDIA |
"OZONE", 2ND FLOOR, # 6-3-669, PUNJAGUTTA MAIN
RO |
C35403310 |
|
2 |
10384426 |
18/08/2010 |
34,400,000.00 |
STATE BANK OF INDIA |
SAIFABAD (SIB) BRANCH,, HACA BHAVA, OPP : ASSEMBL |
B36518348 |
* Date of charge modification
OPERATIONAL
PERFORMANCE
The Company has posted a turnover of Rs 4.882 Million, other income of Rs 7.892 Million, and made a Net loss of Rs 660.781 Million after providing Rs 153.332 Million for Depreciation and Amortisation.
The Directors are pleased to inform that the Company had achieved manufacture of high quality product and also obtained the ISO certification 15378:2011 for GMP, and ISO 9001:2008 for quality system in short duration of the product launch.
FUTURE OUTLOOK
After the mandatory and time demanding step of the validation of their products by the pharmaceutical laboratories, the company will be in very strong position to supply products compliant with their increasing regulatory and quality requirements and with an excellent level of service thanks to the unique facility in India. Further the company has made an aggressive strategy to enter export market in a big way.
COMPANY OVERVIEW
The company was incorporated on 13 November 2009 with its registered office in Hyderabad, India. The Company is engaged primarily in the business of manufacture and supply of Borosilicate Type-I Glass moulded vials, glass tubes, glass tubular vials and ampoules. The Company’s manufacturing facility is located at Vemula village in Mahabubnagar District, Telangana State. The Company began its commercial operations on 15 February 2013.
NOTE:
The registered office of the company has been shifted from Sy. No. 66 (Part) and 67 (Part), Miyapur, Serrilingampally Mandal, Hyderabad – 500050, Telangana to the present address.
FIXED ASSETS:
- Land
Development
- Plant and
Machinery
- Computers and
Accessories
- Electrical
Fitting
- Vehicles
- Furniture and
Fixture
- Office
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 |
|
UK Pound |
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
30 |
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.