MIRA
INFORM REPORT
|
Report No. : |
334462 |
|
Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
GUALA CLOSURES (INDIA) PRIVATE LIMITED (w.e.f. 01.01.1999) |
|
|
|
|
Formerly Known
As : |
GUALA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-1, Sesa Ghor, Patto, Panjim, |
|
Tel. No.: |
91-832-2438944 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation
: |
09.12.1994 |
|
|
|
|
Com. Reg. No.: |
24-001729 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.170.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74950GA1994PTC001729 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG04447C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG4447J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in the manufacture of non refillable plastic closures and nip caps. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated during the year 1994.
It has a fine track record. As per registrar of companies the date of balance sheet (i.e. financial
filed) is shown as 31.03.2014 but the documents related to the financials are
not available from any source. As per available financials of the year ended 2013, the fundamental of
the companies are decent. It possesses healthy operational activity marked by
good profitability margin. Further, the company has decent financial risk profile backed by
efficient networth position along with zero debt balance sheet profile. Trade relations are fair. Business is active. Payment terms are
regular. The company can be considered 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2013.
INFORMATION DENIED
Management non co-operative
Contact No.: 91-832-2438944
LOCATIONS
|
Registered Office : |
D-1, Sesa Ghor, Patto, Panjim, Goa – 403001, India |
|
Tel. No.: |
91-832-2438944/ 2438945 |
|
Fax No.: |
91-832-2438943 |
|
E-Mail : |
|
|
|
|
|
Goa Plant : |
Upper Harvalem, Sanquelim, Goa – 403505, India |
|
Tel. No.: |
91-832-2365793/ 94/ 95/ 6733000 |
|
Fax No.: |
91-832-2365785 |
|
|
|
|
Daman Plant : |
Plot B-11/F-12, M.G. Udyognagar, O.I.D.C., Dabhel – 396210, Daman,
India |
|
Tel. No.: |
91-260-2244273/ 74/ 75/ 76 |
|
Fax No.: |
91-260-2240925 |
|
|
|
|
Gujarat Plant : |
NH No.8, P.B. No.1, Village-Kerala, Bavla, Ahmedabad – 382220,
Gujarat, India |
|
Tel. No.: |
91-2714-671000 |
|
Fax No.: |
91-2714-671001 |
DIRECTORS
AS ON 20.04.2015
|
Name : |
Mr. Marco Giovannini |
|
Designation : |
Director |
|
Address : |
Paleocapa Pietro N.4, 20122, Milano, Italy |
|
Date of Birth/Age : |
16.04.1956 |
|
Date of Appointment : |
17.05.2007 |
|
DIN No.: |
01177504 |
|
|
|
|
Name : |
Mr. Paolo Maria Edilio Ferrari |
|
Designation : |
Director |
|
Address : |
Piazza Massimo D’ Azeglio, N.10, Alessandria, Italy, 15100 |
|
Date of Birth/Age : |
20.02.1956 |
|
Date of Appointment : |
14.12.1994 |
|
DIN No.: |
01474517 |
|
|
|
|
Name : |
Mr. Aiudi
Davide |
|
Designation : |
Alternate Director to Marco Giovannini |
|
Address : |
Via Gastone Sozzi, 24, Marino RM, Italy 00040 |
|
Date of Birth/Age : |
30.12.1981 |
|
Date of Appointment : |
11.06.2011 |
|
DIN No.: |
03571995 |
|
|
|
|
Name : |
Mr. Alessandro Cartocci |
|
Designation : |
Managing Director |
|
Address : |
Verbania (VB), Via Rosa, Franzi, 39 |
|
Date of Birth/Age : |
14.10.1947 |
|
Date of Appointment : |
19.04.2014 |
|
DIN No.: |
06814834 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.04.2015
|
Names of Shareholders |
No. of Shares |
|
Guala
Closures International B.V., Netherlands |
16150000 |
|
Ashok Kapoor jointly with Ravati Kapoor |
849990 |
|
Shivaram Bhat |
10 |
|
Total |
17000000 |
AS ON 20.04.2015
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
95.00 |
|
Other top fifty shareholders |
5.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20334462%2001-Aug-2015_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the manufacture of non refillable plastic closures and nip caps. |
|
|
|
|
Products : |
Non Refillable Plastic Closures and Nip Caps |
|
|
|
|
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 : |
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st
Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai,
Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39836000 |
|
PAN No. : |
AAAFB9852F |
|
|
|
|
Memberships : |
|
|
|
|
|
Collaborators : |
|
|
|
|
|
Parties
(where control exists) [AS ON 31.12.2013]: |
· GCL Holding SCA, Luxembourg (Ultimate holding company) · GCL Special Closures S.r.l, Italy (Holding company of Guala Closures S. p. A. Italy) · Guala Closures S. p. A. Italy (Holding company of Guala Closures International B.V. Netherlands) · Guala Closures International B.V. Netherlands (holding company of immediate holding company upto 30 December 2012, with effect from 31 December 2012 it became the immediate holding company of the Company) · Guala Closures Orient B.V. Netherlands (Immediate holding company upto 30 December 2012) |
|
|
|
|
Fellow Subsidiary Companies [AS ON 31.12.2013]: |
a. Beijing Guala Closures Company Limited, China b. Guala Closures Bulgaria AD c. Guala Closures de Mexico S.A. de C.V d. Pharma Trade S.r.l e. Guala Closures Tools AD f. Guala Patents B.V g. Creative Moulds (India) Private Limited, India |
|
|
|
|
Associates [AS ON 31.12.2013]: |
OMSO Orient Printing Machines Private Limited, India |
CAPITAL STRUCTURE
AS
ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17,000,000 |
Equity Shares |
Rs.10/- each |
Rs.170.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17,000,000 |
Equity Shares |
Rs.10/- each |
Rs.170.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2013 (12 Months) |
31.12.2012 (12 Months) |
31.12.2011 (9 Months) |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
170.000 |
170.000 |
170.000 |
|
(b) Reserves & Surplus |
2485.682 |
2447.098 |
2568.608 |
|
(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) |
2655.682 |
2617.098 |
2738.608 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
72.846 |
82.785 |
53.882 |
|
(c) Other long
term liabilities |
7.205 |
8.653 |
10.973 |
|
(d) Long-term
provisions |
0.000 |
18.502 |
10.229 |
|
Total Non-current
Liabilities (3) |
80.051 |
109.940 |
75.084 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
277.045 |
201.342 |
167.662
|
|
(c)
Other current liabilities |
144.063 |
101.665 |
138.904
|
|
(d) Short-term
provisions |
81.987 |
33.070 |
166.203
|
|
Total Current
Liabilities (4) |
503.095 |
336.077 |
472.769 |
|
|
|
|
|
|
TOTAL |
3238.828 |
3063.115 |
3286.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1696.841 |
1699.213 |
1718.321 |
|
(ii)
Intangible Assets |
0.000 |
0.078 |
0.208 |
|
(iii)
Capital work-in-progress |
40.690 |
2.928 |
58.899 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.002 |
0.002 |
0.002 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
106.049 |
114.765 |
43.016 |
|
(e) Other
Non-current assets |
6.006 |
12.595 |
32.698 |
|
Total Non-Current
Assets |
1849.588 |
1829.581 |
1853.144 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
111.539 |
75.630 |
82.720
|
|
(c) Trade
receivables |
760.315 |
916.885 |
845.339
|
|
(d) Cash
and cash equivalents |
400.416 |
190.885 |
337.071
|
|
(e)
Short-term loans and advances |
76.464 |
39.999 |
160.624 |
|
(f)
Other current assets |
40.506 |
10.135 |
7.563 |
|
Total
Current Assets |
1389.240 |
1233.534 |
1433.317 |
|
|
|
|
|
|
TOTAL |
3238.828 |
3063.115 |
3286.461 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2013 (12 Months) |
31.12.2012 (12 Months) |
31.12.2011 (9 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3910.220 |
3634.840 |
2283.588 |
|
|
|
Other Income |
70.867 |
60.595 |
48.235 |
|
|
|
TOTAL |
3981.087 |
3695.435 |
2331.823 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
3053.281 |
2712.305 |
1645.919 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
927.806 |
983.130 |
685.904 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
307.060 |
348.904 |
231.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
620.746 |
634.226 |
453.910 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
17.547 |
NA |
8.445 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
36.51 |
37.31 |
26.70 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.12.2013 (12 Months) |
31.12.2012 (12 Months) |
31.12.2011 (9 Months) |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1342.301 |
1294.229 |
1579.982 |
|
Net cash flows from (used in) operating activities |
1013.226 |
953.798 |
1222.298 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2013 (12 Months) |
31.12.2012 (12 Months) |
31.12.2011 (9 Months) |
|
Net Profit Margin (PAT / Sales) |
(%) |
15.87 |
17.45 |
19.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.01 |
32.13 |
21.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.38 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.76 |
3.67 |
3.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 [9 Months] |
31.12.2012 [12 Months] |
31.12.2013 [12 Months] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
170.000 |
170.000 |
170.000 |
|
Reserves & Surplus |
2568.608 |
2447.098 |
2485.682 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2738.608 |
2617.098 |
2655.682 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20334462%2001-Aug-2015_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 [9 Months] |
31.12.2012 [12 Months] |
31.12.2013 [12 Months] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2283.588 |
3634.840 |
3910.220 |
|
|
|
59.172 |
7.576 |
%20PRIVATE%20LIMITED%20-%20334462%2001-Aug-2015_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 [9 Months] |
31.12.2012 [12 Months] |
31.12.2013 [12 Months] |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2283.588 |
3634.840 |
3910.220 |
|
Profit |
453.910 |
634.226 |
620.746 |
|
|
19.88% |
17.45% |
15.87% |
%20PRIVATE%20LIMITED%20-%20334462%2001-Aug-2015_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10201816 |
22/01/2010 |
200,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A79103099 |
BACKGROUND: [AS ON 31.12.2013]
The Company was
incorporated on 9th December 1994 as a private limited company. The
Company is primarily engaged in the manufacture of non-refillable plastic
closures and nip caps. The Company has manufacturing plants at Goa, Ahmedabad
and Daman. The registered office of the Company is situated in Panjim, Goa.
OPERATIONAL PERFORMANCE: [AS ON 31.12.2013]
The sales level has been
maintained during the year on an annualized basis. However, the expenses have
increased mainly due to Increase in Plastic Cost and Management Fees.
Considering the growing demand for Nipcap, we have increased the Nipcap
capacity at Ahmedabad plant. With this increase, the capacity of manufacturing
Nipcaps will be higher by 2.5%.
CONTINGENT
LIABILITIES:
|
Particulars |
31.12.2013 (Rs.
in Million) |
31.12.2012 (Rs.
in Million) |
|
Guarantees |
|
|
|
a.
Bank guarantees given by the Company |
20.318 |
44.816 |
|
Other
money for which the Company is contingently liable |
|
|
|
a.
Service tax and penalty |
2.007 |
2.007 |
|
b.
Excise Duty (Note A) |
2.680 |
2.680 |
|
c.
The Company is eligible for sales tax incentive under the Goa Value Added Tax
Act, 2005 as per the conditions stipulated in the applicable scheme. The
Company may be liable for penalty in case of non-fulfilment of conditions. |
||
Note (A)
The Company received a show
cause cum demand notice (SCN) from the Joint Commissioner of Central Excise and
Service tax, Panaji - Goa to pay excise duty aggregating to Rs.2.680 million
(Previous Period: Rs.2.680 million) on sales tax incentive retained by the
Company. The Company has filed a reply to the said SCN. This is an
industry-wide issue for all units located in Goa Industrial Development
Corporation area with precedents of legal cases on the issue, as to why the
excise duty should not be levied on the sales tax incentive retained by the
Company. In view of the above, the management believes that the probability of
case being decided in favour of the Company is very high and hence, no
provision for the same is created in the books.
FIXED ASSETS:
Tangible
Assets
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office and Equipment
Intangible
Assets
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.01 |
|
|
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
52 |
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.