MIRA INFORM REPORT
|
Report No. : |
335670 |
|
Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
A J PACKAGING LIMITED |
|
|
|
|
Registered
Office : |
Plot No. - 120 CIE, Gandhinagar, Balanagar, Near Balaji Hospital,
Hyderabad – 500037, Telangana |
|
Tel. No.: |
91-40-23086604 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.07.1995 |
|
|
|
|
Com. Reg. No.: |
020965 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.44.920 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999TG1995PLC020965 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Metal Tin Cans. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
A J Packaging Limited was set in 1995, company manufactures metal tin cans,
primarily us for packaging in the fast-moving consumer goods industry. It is
an established company having satisfactory track record. The rating reflects the improvement in company’s business risk
profile, driven by sustenance of its healthy revenue growth, while
maintaining its profitability margins. There has been a sizeable increase in
the company’s networth, which has enhanced its financial flexibility and a
consequent improvement in its capital structure. The rating continue to reflect the extensive experience of company’s
promoters in the packaging industry and company’s established track record.
The rating also factor in the company’s above average financial risk profile
marked by its modest networth and comfortable debt protection metrics. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of sound operational and financial base backed by its
experience promoters, 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 |
CRISIL |
|
Rating |
Long Term Rating = BB |
|
Rating Explanation |
Moderate risk pf default regarding timely
servicing of financial obligations |
|
Date |
19.11.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
19.11.2014 |
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.
LOCATIONS
|
Registered Office : |
Plot No. - 120 CIE, Gandhinagar, Balanagar, Near Balaji Hospital,
Hyderabad – 500037, Telangana, India |
|
Tel. No.: |
91-40-23086604 |
|
Mobile No.: |
91-9885133033 (Mr. Nitin Agarwal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot No. 341/A, Road No. 23/A, Jubilee Hills, Hyderabad, Telangana,
India |
|
|
|
|
Factory 2 : |
7/3/111/2, GPIA,
Kattaden, Hyderabad – 500077, Andhra Pradesh, India |
|
Tel. No.: |
91-40-24362626 / 23086604 |
|
Fax No.: |
91-40-24362652 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ajay Agarwal |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 341 A, Road No. 23 A, Jubilee Hills, Hyderabad - 500033, Telangana,
India |
|
Date of Birth/Age : |
12.01.1960 |
|
Date of Appointment : |
06.07.1995 |
|
DIN No.: |
01030320 |
|
|
|
|
Name : |
Mr. Venkateshwar Prasad Theegala |
|
Designation : |
Director |
|
Address : |
Plot No-99 N C L Enclave, Jeedimetla, Jayalakshmi Guest House,
Hyderabad - 500055, Telangana, India |
|
Date of Birth/Age : |
04.01.1960 |
|
Date of Appointment : |
06.07.1995 |
|
DIN No.: |
00008136 |
|
|
|
|
Name : |
Mr. Ravindra Reddy Puli |
|
Designation : |
Director |
|
Address : |
257, Road No 2, Banjara Hills, Next To Natco House, Hyderabad -
500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
26.01.1950 |
|
Date of Appointment : |
01.03.2011 |
|
DIN No.: |
03462495 |
|
|
|
|
Name : |
Mr. Nitin Agarwal |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No. 341/A, Road No. 23-A, Jubilee Hills, Hyderabad - 500033, Telangana,
India |
|
Date of Birth/Age : |
03.03.1986 |
|
Date of Appointment : |
01.09.2012 |
|
DIN No.: |
06381755 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Agarwal |
|
89190 |
|
Ranjani Agarwal |
|
822600 |
|
Swarna Narayan |
|
300 |
|
T.V. Prasad |
|
39000 |
|
Dr. Bajranglal |
|
300 |
|
Ratanlal Gupta |
|
300 |
|
Ravindra Kumar Agarwal |
|
300 |
|
A J Cans Private Limited, India |
|
1830000 |
|
Nitini Agarwal |
|
1560000 |
|
Asian Colour Cartons, India |
|
150000 |
|
Total |
|
4491990 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
40.74 |
|
Directors or relatives of Directors |
59.26 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Metal Tin Cans. |
|
|
|
|
Products : |
Metal Tin Cans |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Available |
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|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
Short-term
borrowings All working capital loans are secured by hypothecation of inventories
book debts and by way of second charge on fixed assets of the company and
pari passu basis and further guaranteed by one of the directors of the
company. |
|
Auditors : |
|
|
Name : |
Ghantasala and Company Chartered Accountants |
|
Address : |
3-6-700 & 701,103 Senate Apartments, Street No. 11, Himayathnagar, Hyderabad – 500029, Telangana, India |
|
PAN No.: |
AADFG2640P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,491,990 |
Equity Shares |
Rs.10/- each |
Rs.44.920 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 |
44.920 |
44.920 |
44.920 |
|
(b) Reserves &
Surplus |
22.245 |
16.539 |
12.755 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
2.500 |
4.600 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
69.665 |
66.059 |
57.675 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
81.051 |
34.662 |
33.242 |
|
(b) Deferred tax
liabilities (Net) |
3.691 |
2.805 |
2.480 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
84.742 |
37.467 |
35.722 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
56.901 |
36.168 |
30.316 |
|
(b) Trade payables |
34.101 |
36.594 |
13.587 |
|
(c) Other current
liabilities |
25.842 |
14.262 |
15.689 |
|
(d) Short-term provisions |
4.245 |
4.246 |
2.000 |
|
Total Current Liabilities
(4) |
121.089 |
91.270 |
61.592 |
|
|
|
|
|
|
TOTAL |
275.496 |
194.796 |
154.989 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
113.409 |
92.138 |
73.387 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
10.747 |
2.993 |
2.993 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2.025 |
2.025 |
2.025 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.089 |
0.929 |
2.773 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
127.270 |
98.085 |
81.178 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
92.795 |
57.329 |
49.483 |
|
(c) Trade receivables |
31.941 |
12.608 |
8.612 |
|
(d) Cash and cash
equivalents |
1.889 |
4.105 |
0.792 |
|
(e) Short-term loans and
advances |
21.601 |
22.669 |
14.924 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
148.226 |
96.711 |
73.811 |
|
|
|
|
|
|
TOTAL |
275.496 |
194.796 |
154.989 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
318.950 |
273.366 |
262.106 |
|
|
Other Income |
0.569 |
1.646 |
1.222 |
|
|
TOTAL |
319.519 |
275.012 |
263.328 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
204.474 |
163.716 |
180.815 |
|
|
Manufacturing Expenses |
41.418 |
30.170 |
22.298 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(27.913) |
(6.048) |
(1.118) |
|
|
Employees benefits
expense |
32.281 |
27.124 |
11.801 |
|
|
Administration and
Selling Expenses |
36.077 |
31.492 |
28.936 |
|
|
Other expenses |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
286.337 |
246.454 |
242.732 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
33.182 |
28.558 |
20.596 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
12.068 |
11.301 |
6.168 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
21.114 |
17.257 |
14.428 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.277 |
8.903 |
6.717 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
10.837 |
8.354 |
7.711 |
|
|
|
|
|
|
|
Less |
TAX |
2.886 |
2.325 |
2.327 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
7.951 |
6.029 |
5.384 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.77 |
1.34 |
1.81 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
18.735 |
11.648 |
7.216 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.49 |
2.21 |
2.05 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.40 |
10.45 |
7.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.12 |
4.40 |
5.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.13 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.25 |
1.25 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.06 |
1.20 |
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 |
44.920 |
44.920 |
44.920 |
|
Reserves & Surplus |
12.755 |
16.539 |
22.245 |
|
Share Application money
pending allotment |
0.000 |
4.600 |
2.500 |
|
Net worth |
57.675 |
66.059 |
69.665 |
|
|
|
|
|
|
long-term borrowings |
33.242 |
34.662 |
81.051 |
|
Short term borrowings |
30.316 |
36.168 |
56.901 |
|
Current Maturities of
Long Term Debt |
7.216 |
11.648 |
18.735 |
|
Total borrowings |
70.774 |
82.478 |
156.687 |
|
Debt/Equity ratio |
1.227 |
1.249 |
2.249 |
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 |
262.106 |
273.366 |
318.950 |
|
|
|
4.296 |
16.675 |
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 |
262.106 |
273.366 |
318.950 |
|
Profit |
5.384 |
6.029 |
7.951 |
|
|
2.05% |
2.21% |
2.49% |
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 |
No |
|
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 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 |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Interest free deferred sales tax loans |
13.071 |
17.094 |
|
Loans from body corporate |
41.944 |
0.000 |
|
Other long term liabilities |
8.271 |
2.989 |
|
Total |
63.286 |
20.083 |
OPERATIONS
During the year the company has achieved gross sales of Rs.354.266
Million as against Rs.305.003 Million in the previous year an increase of 16%. The
cash generations (before tax) of the company for the year ended 31st
March 2014 was Rs.21.114 Million as against Rs.17.257 Million during the
previous year.
FUTURE OUTLOOK
The future outlook of the company is encouraging and the company’s
production and sales requirements have been tied up with various companies.
Further the company has also started supplying to coconut oil companies,
beverages and also increased the business operations into round and rectangular
cans to cater to requirement of confectionery / biscuits, coffee and oil
industries.
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10552642 |
09/02/2015 |
20,000,000.00 |
STANDARD CHARTERED BANK |
DOOR NO. 6-3-1090, GR FLOOR, TSR TOWERS, RAJBHAVA |
C45353497 |
|
2 |
10542253 |
09/01/2015 |
2,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
6-3-1107 & 1108, RAJ BHAVAN ROAD, SOMAJI GUDA,
HY |
C40057655 |
|
3 |
10519989 |
23/07/2014 |
1,158,150.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE
C |
C20661237 |
|
4 |
10515301 |
31/05/2014 |
5,300,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE
C |
C16667099 |
|
5 |
10266456 |
19/01/2015 * |
78,910,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
6-3-1107 & 1108, RAJ BHAVAN ROAD, SOMAJIGUDA,
HYD |
C40623878 |
|
6 |
10259894 |
23/06/2015 * |
120,000,000.00 |
STANDARD CHARTERED BANK |
DOOR NO. 6-3-1090, GR FLOOR, TSR TOWERS, RAJBHAVA |
C58984048 |
|
7 |
90262345 |
09/09/2003 |
2,600,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORP. LTD. |
30; RAJAJI SALAI; POST BOX NO - 11, CHENNAI, TAMIL |
- |
|
8 |
90262196 |
20/09/2002 |
3,500,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORP. LTD. |
30; RAJAJI SALAI; POST BOX NO - 11, CHENNAI, TAMIL |
- |
|
9 |
90262165 |
07/06/2002 |
33,500,000.00 |
HDFC BANK LTD. |
SANDOZ HOUSE;, DR. AB ROAD WORLI, MUMBAI, ANDHRA |
- |
|
10 |
90258714 |
26/12/2014 * |
70,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
6-3-1107 & 1108, RAJ BHAVAN ROAD, SOMAJIGUDA,
HYD |
C40056996 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.