MIRA INFORM REPORT
|
Report No. : |
335351 |
|
Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASTRON PACKAGING LIMITED |
|
|
|
|
Formerly Known
As : |
ASTRON PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Chinubhai Centre, Ashram Road, Ahmedabad –
380009, Gujarat |
|
Tel. No.: |
91-79-26576655 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.07.2001 |
|
|
|
|
Com. Reg. No.: |
04-039733 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21029GJ2001PLC039733 |
|
|
|
|
IEC No.: |
0807004421 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA0093L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Corrugated boxes |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate net worth base and sound profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
29.10.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
29.10.2014 |
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 PARTED BY
|
Name : |
Mr. Samir Varia |
|
Designation : |
Finance and Accounts Head |
|
Contact No.: |
91-9909031633 |
|
Date : |
03.08.2015 |
LOCATIONS
|
Registered Office : |
2nd Floor, Chinubhai Centre, Ashram Road, Ahmedabad –
380009, Gujarat, India |
|
Tel. No.: |
91-79-26576655 |
|
Mobile No.: |
91-9909031633 (Mr. Samir) 91-9909944583 (Mr. Devang) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
No.22, 23 and 34, Mahagujarat Industrial Estate, Sarkeh Bavla Highway,
Village – Moraiya, Ahmedabad - 382210 Gujarat, India |
|
Tel. No.: |
91-2717-294204 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Urmish Hasmukh Chudgar |
|
Designation : |
Director |
|
Address : |
16, Nishant Bunglows, Satelite, Ahmedabad – 380015, Gujarat,
India |
|
Date of Birth/Age : |
16.02.1959 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00096080 |
|
|
|
|
Name : |
Mr. Binish Hasmukh Chudgar |
|
Designation : |
Director |
|
Address : |
11, Akashneem Bunglows,
Vastrapur, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.12.1963 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00119503 |
|
|
|
|
Name : |
Mr. Nimish Hasmukh Bhai Chudgar |
|
Designation : |
Director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
19.08.1960 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00212400 |
|
|
|
|
Name : |
Ms. Ruchi Nimishbhai Chudgar |
|
Designation : |
Whole Time Director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
26.09.1987 |
|
Date of Appointment : |
15.04.2008 |
|
DIN No.: |
02184075 |
|
|
|
|
Name : |
Mrs. Bina Nimish Chudgar |
|
Designation : |
Whole Time Director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.07.1964 |
|
Date of Appointment : |
04.02.2008 |
|
DIN No.: |
00314377 |
KEY EXECUTIVES
|
Name : |
Mr. Samir Varia |
|
Designation : |
Finance and Accounts Head |
|
|
|
|
Name : |
Umesh Parikh |
|
Designation : |
Company Secretaries |
|
Address : |
5-D, 5th Floor, Vardan Exclusive, Next to Vimal House, Near Stadium Petrol Pump, Navrangpura, Ahmedabad – 380 014, Gujarat, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Nimish Hasmukh Bhai Chudgar |
|
500000 |
|
Binaben Nimish Chudgar |
|
1099500 |
|
Hasmukh K Chudgar |
|
100 |
|
Bindiben B. Chudgar |
|
100 |
|
Kusumben H. Chudgar |
|
100 |
|
Parulben U. Chudgar |
|
100 |
|
Ruchi N. Chudgar |
|
100 |
|
Total |
|
1600000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of corrugated boxes |
|
|
|
|
Products : |
Not Available |
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|
|
|
Brand Names : |
Not Available |
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|
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|
Agencies Held : |
Not Available |
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Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Brazil ·
Egypt |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
South Africa ·
Australia ·
Finland |
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Cash / Credit (30/60/90 Days) |
PRODUCTION STATUS
As on 31.03.2014
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Cartons, Boxes and cases of Corrugated Paper and Paperboard and parts
there of |
|
Tones |
24000 |
11088 |
|
Self Adhesives Labels |
|
SQM |
330000 |
2631338 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Bhadresh Shah and Associates Chartered Accountants |
|
Address : |
205-208, Ashoka Chambers, Opposite Reliance Fresh, Near HCG Hospital,
Mithakali Six Road, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-26578954 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACAPS7095K |
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|
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|
|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
|
Associates : |
Intas Pharmaceuticals Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,600,000 |
Equity Shares |
Rs.10/- each |
Rs. 16.000
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 |
16.000 |
16.000 |
16.000 |
|
(b) Reserves & Surplus |
190.000 |
151.609 |
116.664 |
|
(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) |
206.000 |
167.609 |
132.664 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
241.750 |
168.853 |
127.885 |
|
(b) Deferred tax liabilities (Net) |
27.057 |
19.724 |
15.839 |
|
(c) Other long term
liabilities |
2.900 |
0.250 |
0.882 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
271.707 |
188.827 |
144.606 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
153.398 |
111.399 |
40.407 |
|
(b) Trade
payables |
177.183 |
127.880 |
90.676 |
|
(c) Other
current liabilities |
1.499 |
0.216 |
0.245 |
|
(d) Short-term
provisions |
18.275 |
14.751 |
9.846 |
|
Total Current
Liabilities (4) |
350.355 |
254.246 |
141.174 |
|
|
|
|
|
|
TOTAL |
828.062 |
610.682 |
418.444 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
382.454 |
281.824 |
203.256 |
|
(ii)
Intangible Assets |
0.498 |
0.466 |
0.442 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
8.015 |
6.185 |
4.148 |
|
Total Non-Current
Assets |
390.972 |
288.480 |
207.851 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
103.275 |
65.142 |
35.059 |
|
(c) Trade
receivables |
279.448 |
209.004 |
134.783 |
|
(d) Cash
and cash equivalents |
10.574 |
8.358 |
7.809 |
|
(e)
Short-term loans and advances |
43.793 |
39.698 |
32.942 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
437.090 |
322.202 |
210.593 |
|
|
|
|
|
|
TOTAL |
828.062 |
610.682 |
418.444 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
787.446 |
624.103 |
423.194 |
|
|
Other Income |
6.120 |
0.919 |
0.921 |
|
|
TOTAL
(A) |
793.566 |
625.022 |
424.115 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
552.534 |
431.464 |
282.997 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.905) |
0.816 |
(0.731) |
|
|
Employees benefits expense |
40.429 |
28.207 |
20.005 |
|
|
Other expenses |
99.172 |
88.297 |
67.272 |
|
|
TOTAL
(B) |
691.230 |
548.784 |
369.543 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
102.336 |
76.238 |
54.572 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.885 |
16.680 |
15.251 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
74.451 |
59.558 |
39.321 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
16.492 |
10.787 |
9.929 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
57.959 |
48.771 |
29.392 |
|
|
|
|
|
|
|
Less |
TAX (H) |
19.568 |
13.825 |
11.311 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
38.391 |
34.946 |
18.081 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
23.99 |
21.84 |
11.3 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
900.000 |
|
|
|
|
|
The above information has been parted by Mr. Samir Varia (Finance and
Accounts Head)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
28.961 |
(7.415) |
NA |
|
Net cash from operating Activities |
15.868 |
(16.140) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.88 |
5.60 |
4.27 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.00 |
12.22 |
12.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.00 |
7.99 |
7.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.29 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.92 |
1.67 |
1.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.27 |
1.49 |
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 |
16.000 |
16.000 |
16.000 |
|
Reserves & Surplus |
116.664 |
151.609 |
190.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
132.664 |
167.609 |
206.000 |
|
|
|
|
|
|
long-term borrowings |
127.885 |
168.853 |
241.750 |
|
Short term borrowings |
40.407 |
111.399 |
153.398 |
|
Total
borrowings |
168.292 |
280.252 |
395.148 |
|
Debt/Equity
ratio |
1.269 |
1.672 |
1.918 |
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 |
423.194 |
624.103 |
787.446 |
|
|
|
47.474 |
26.172 |
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 |
423.194 |
624.103 |
787.446 |
|
Profit |
18.081 |
34.946 |
38.391 |
|
|
4.27% |
5.60% |
4.88% |
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 |
Yes |
|
8] |
Designation of contact person |
Yes |
|
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) |
Yes |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
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 |
Yes |
|
26] |
Turnover of firm for last four 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 |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Binaben N. Chudgar |
9.718 |
2.000 |
|
Nimishbhai H. Chudgar |
137.600 |
104.500 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Trade Deposits |
|
|
|
Rey Enterprises (Advance Deposits) |
0.050 |
0.000 |
|
Jalaram Raw Material Supplier (Deposit) |
0.600 |
1.100 |
|
|
|
|
|
Total
|
147.968 |
107.600 |
OPERATIONS:
The Gross income of the company for the year was Rs.793.567 Million as
against Rs.625.022 Million in the previous year and the profit for the year
after provision of taxes was Rs.38.391 Million as against Rs.34.945 Million in
the previous year respectively.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10537727 |
20/12/2014 |
34,200,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C37551256 |
|
2 |
10450447 |
22/12/2014 * |
504,200,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C37552437 |
|
3 |
10443331 |
29/06/2015 * |
762,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C57528275 |
* Date of charge modification
FIXED ASSETS
- Land
- Factory Building
- Plant and Machinery
- Electric Installation
- Office Equipments
- Furniture and Fixtures
- Material handling Equipments
- Computers
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.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.