MIRA INFORM REPORT
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Report No. : |
335809 |
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Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
TPL PLASTECH LIMITED |
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Registered
Office : |
213, Sabari, Kachigam, Daman (U.T.) – 396210, Daman and Diu |
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Tel. No.: |
Not Available |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
30.09.1992 |
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Com. Reg. No.: |
56-004656 |
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Capital
Investment / Paid-up Capital : |
Rs. 78.003 Million |
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CIN No.: [Company Identification
No.] |
L25209DD1992PLC004656 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing of Polymer Products. |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. Financial position of the company seems to be decent. The ratings also take into consideration, an acceptable share price of
Rs. 306.50 recorded by the company as against a face value of Rs. 10.00 as on
August 5, 2015. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “A” |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
26.02.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A1” |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
26.02.2015 |
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
31-03-2013.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-40624200)
LOCATIONS
|
Registered Office : |
213, Sabari, Kachigam, Daman (U.T.) – 396 210, Daman and
Diu, India |
|
Tel. No. : |
Not Available |
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Fax No. : |
Not Available |
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Corporate Office : |
VTM -2, Office No. 102, C. Mehra Industrial Estate, Saki Naka, Andheri-Kurla Road, Mumbai – 400072, Maharashtra, India |
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Tel. No. : |
91-22-40624200/ 28510891 / 90 |
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Fax No. : |
91-22-28510087 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. 5, Government Industrial Estate, Khadoli Village, Silvassa – 396230, Dadra and Nagar Haveli - (U.T.), India |
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Factory 2 : |
Lane No. 5, Phase 2, SIDCO Industrial Complex, Bari Brahmna Industrial Estate, Jammu, Jammu and Kashmir, India |
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Factory 3 : |
Survey No. 54B and 54C, Village Alak Devi, Tahsil Gadarpur, District. U. S. Nagar, Uttarakhand, India |
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Factory 4: |
Survey No. 217/2, Village Kotda, Taluka Anjar, District Bhuj, Kutch, Gujarat, India |
DIRECTORS
AS ON: 31.03.2014
|
Name : |
Sanjaya Kulkarni |
|
Designation : |
Chairman and Independent Director |
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Date of Birth/Age : |
66 Years |
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Qualification : |
B. Tech from IIT Mumbai, and MBA from IIM Ahmedabad |
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Name : |
Mr. Kamlesh Joisher |
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Designation : |
Whole Time Director |
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Name : |
Mr. M. K. Wadhwa |
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Designation : |
Non-Executive and Independent Director |
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Date of Birth/Age : |
63 Years |
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Qualification : |
Chartered Accountant |
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Experience : |
31 Years |
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Name : |
Dr. G. N. Mathur |
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Designation : |
Non-Executive and Independent Director |
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Date of Birth/Age : |
68 Years |
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Qualification : |
Polymer Technologists |
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Name : |
Monika Srivastava |
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Designation : |
Non-Executive Director |
KEY EXECUTIVES
|
Name : |
Murarilal Jangid |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Manoj Kumar Mewara |
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Designation : |
Company Secretary |
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Name : |
M.V. Suresh |
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Designation : |
V.P. – Marketing |
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Name : |
Mr. Rahul Sharma |
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Designation : |
DGM – Operations |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On: 30.06.2015
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
As a % of (A+B) |
||
|
(A) Shareholding of
Promoter and Promoter Group |
||
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|
5850126 |
75.00 |
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|
5850126 |
75.00 |
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Total shareholding
of Promoter and Promoter Group (A) |
5850126 |
75.00 |
|
(B) Public
Shareholding |
||
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|
|
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|
8300 |
0.11 |
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|
8300 |
0.11 |
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|
87161 |
1.12 |
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|
|
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|
1013088 |
12.99 |
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|
818483 |
10.49 |
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|
23142 |
0.30 |
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|
17835 |
0.23 |
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|
1187 |
0.02 |
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|
4120 |
0.05 |
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|
1941874 |
24.89 |
|
Total Public
shareholding (B) |
1950174 |
25.00 |
|
Total (A)+(B) |
7800300 |
100.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group:
|
Sl. No. |
Name of the Shareholder |
Details of Shares
held |
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
||
|
1 |
Time Technoplast Limited |
58,50,126 |
75.00 |
|
|
Total |
58,50,126 |
75.00 |
Shareholding of securities
(including shares, warrants, convertible securities) of persons belonging to
the category Public and holding more than 1% of the total number of shares:
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Nareshkumar Kishanlal Saraf |
190989 |
2.45 |
|
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2 |
Sarwan Kumar Devidutt Saraf |
114669 |
1.47 |
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3 |
Sarwan Kumar Devidutt Saraf |
88532 |
1.13 |
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4 |
Sunaina Nareshkumar Saraf |
88910 |
1.14 |
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Total |
483100 |
6.19 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Polymer Products. |
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Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
· IDBI Bank Limited · Standard Chartered Bank ·
HDFC Bank Limited |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : (As On: 31.03.2014) |
Time Technoplast Limited |
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Fellow Subsidiaries
: (As On: 31.03.2014) |
· Elan Incorporated FZE, Sharjah · Novo Tech Sp. Z.O.O., Poland · Ned Energy Ltd., India · GNXT Investments Holdings Pte. Limited, Singapore · Ikon Investments Holdings Limited, Mauritius |
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·
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CAPITAL STRUCTURE
AS ON: 31.03.2015
Authorised Capital: Rs. 100.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 78.003
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,800,300 |
Equity Shares |
Rs.10/- each |
Rs. 78.003 Millions |
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NOTE:
Rights of
Equity Shareholders:
The Company has only one class of Equity Shares having par value of Rs. 10 Each, holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the remaining assets of the Company.
Reconciliation of
numbers of equity shares:
|
Particulars |
As at 31st March, 2014 |
|
|
Number |
Rs. in Millions |
|
|
Shares outstanding at the beginning of the year |
7,800,300 |
78.003 |
|
Shares issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
7,800,300 |
78.003 |
Details of members
holding equity shares more than 5%
|
Particulars |
As at 31st March, 2014 |
|
|
Number |
% of Holding |
|
|
|
|
|
|
Time Technoplast Limited (Holding company) |
5,850,126 |
75.00% |
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|
During the previous five years the company had not issued Bonus Shares/ Buy-Back/ issued shares for consideration other than cash.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
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|
|
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I.
EQUITY AND LIABILITIES |
|
|
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|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
78.003 |
78.003 |
78.003 |
|
(b) Reserves & Surplus |
360.933 |
304.258 |
250.582 |
|
(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) |
438.936 |
382.261 |
328.585 |
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
44.200 |
85.950 |
159.359 |
|
(b) Deferred tax liabilities
(Net) |
62.537 |
59.166 |
55.353 |
|
(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) |
106.737 |
145.116 |
214.712 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
332.440 |
269.110 |
168.473 |
|
(b) Trade payables |
257.307 |
286.389 |
333.783 |
|
(c) Other current liabilities |
69.493 |
105.783 |
103.159 |
|
(d) Short-term provisions |
25.428 |
22.234 |
23.135 |
|
Total
Current Liabilities (4) |
684.668 |
683.516 |
628.550 |
|
|
|
|
|
|
TOTAL |
1230.341 |
1210.893 |
1171.847 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
449.979 |
470.127 |
480.049 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
18.335 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.159 |
7.702 |
3.748 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
459.138 |
477.829 |
502.132 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
251.800 |
186.835 |
225.190 |
|
(c) Trade receivables |
353.932 |
426.378 |
340.646 |
|
(d) Cash and cash equivalents |
7.722 |
16.821 |
18.566 |
|
(e) Short-term loans and
advances |
156.204 |
95.909 |
83.655 |
|
(f) Other current assets |
1.545 |
7.121 |
1.658 |
|
Total
Current Assets |
771.203 |
733.064 |
669.715 |
|
|
|
|
|
|
TOTAL |
1230.341 |
1210.893 |
1171.847 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1831.590 |
1901.365 |
1539 |
|
|
Other Income |
0.314 |
0.259 |
0.271 |
|
|
TOTAL
(A) |
1831.904 |
1901.624 |
1539.271 |
|
|
|
|
|
|
|
Less: |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1470.827 |
1500.182 |
1186.218 |
|
|
Purchases of Stock-in-Trade |
0.000 |
82.68 |
84.584 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(33.371) |
(0.647) |
(33.109) |
|
|
Employees benefits expense |
46.977 |
46.262 |
45.655 |
|
|
Other expenses |
165.084 |
98.867 |
95.957 |
|
|
TOTAL
(B) |
1649.517 |
1727.344 |
1379.305 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION(A-B)
(C) |
182.387 |
174.280 |
159.966 |
|
|
|
|
|
|
|
|
Less: |
FINANCIAL
EXPENSES (D) |
54.859 |
51.492 |
48.017 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
127.528 |
122.788 |
111.949 |
|
|
|
|
|
|
|
Less: |
DEPRECIATION/
AMORTISATION (F) |
27.666 |
37.110 |
35.559 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F)
(G) |
99.862 |
85.678 |
76.390 |
|
|
|
|
|
|
|
Less: |
TAX (H) |
23.768 |
13.750 |
13.622 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
76.094 |
71.928 |
62.768 |
|
|
|
|
|
|
|
Add: |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (J) |
|
225.746 |
185.98 |
|
|
|
|
|
|
|
Less: |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
|
5.420 |
4.750 |
|
|
Dividend |
|
15.601 |
15.601 |
|
|
Tax on Dividend |
|
2.651 |
2.651 |
|
|
Total
(K) |
23.672 |
23.002 |
|
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (I+J-K)
(L) |
NA |
274.002 |
225.746 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
1156.816 |
863.509 |
|
|
Components and Stores parts |
|
0.257 |
9.366 |
|
|
Capital Goods |
|
1.728 |
3.170 |
|
|
TOTAL
IMPORTS |
NA |
1158.801 |
876.045 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
9.76 |
9.22 |
8.05 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
73.409 |
79.310 |
|
Cash generated from operations |
NA |
66.811 |
129.152 |
|
Net cash from operating activities |
NA |
48.385 |
115.246 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.15 |
3.78 |
4.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.96 |
9.17 |
10.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.12 |
7.08 |
6.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.22 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
0.93 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.07 |
1.07 |
STOCK
PRICES
|
Face Value |
Rs. 10/- |
|
Market Value |
Rs. 306.50/- |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
78.003 |
78.003 |
78.003 |
|
Reserves & Surplus |
250.582 |
304.258 |
360.933 |
|
Net
worth |
328.585 |
382.261 |
438.936 |
|
|
|
|
|
|
long-term borrowings |
159.359 |
85.950 |
44.200 |
|
Short term borrowings |
168.473 |
269.110 |
332.440 |
|
Total
borrowings |
327.832 |
355.060 |
376.640 |
|
Debt/Equity
ratio |
0.998 |
0.929 |
0.858 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue From Operations |
1539.000 |
1901.365 |
1831.590 |
|
|
|
23.545 |
(3.670) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue From Operations |
1539.000 |
1901.365 |
1831.590 |
|
Profit |
62.768 |
71.928 |
76.094 |
|
|
4.08% |
3.78% |
4.15% |
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 |
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 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10517386 |
23/05/2015 * |
58,800,000.00 |
IDBI Bank Limited |
GROUND FLOOR, C7, G BLOCK, OPPOSITE NSE, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
C57698508 |
|
2 |
10517384 |
23/05/2015 * |
56,700,000.00 |
IDBI Bank Limited |
GROUND FLOOR, C7, G BLOCK, OPPOSITE NSE, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
C57701252 |
|
3 |
10465658 |
23/10/2013 |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST |
B91735332 |
|
4 |
10233529 |
23/05/2015 * |
684,500,000.00 |
IDBI Bank Limited |
GROUND FLOOR, C7, G BLOCK, OPPOSITE NSE, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
C57700015 |
CONTINGENT
LIABILITIES:
Contingent liabilities not provided for in
respect of:
(Rs.
In Millions)
|
PARTICULARS |
|
31.03.2014 |
|
Guarantees given by the bank on behalf of the Company |
|
5.015 |
|
Disputed indirect taxes (Excluding interest, if any) |
NA |
7.038 |
|
Disputed Electricity Duty (Excluding Interest) |
|
3.276 |
|
Liability is respect of Bill discounted by the company |
|
6.954 |
Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances of ` Nil Previous year `123,763) ` Nil (Previous Year 288,161).
FIXED ASSETS: (31.03.2014)
TANGIBLE ASSETS
· Land – Leasehold
· Land – Freehold
· Building – Owned
· Plant and Equipment
· Laboratory Testing Equipment
· Electric Installation
· Dies and Moulds
· Computers
· Office Equipment
· Furniture and Fixture
· Vehicles
INTANGIBLE ASSETS
· Goodwill
· Brands / Trademarks
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. 63.76 |
|
UK Pound |
1 |
Rs. 99.60 |
|
Euro |
1 |
Rs. 69.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
THR |
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 |
7 |
|
--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 |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.