MIRA INFORM REPORT

 

 

Report No. :

338490

Report Date :

26.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SUPRIYA LIFESCIENCE LIMITED

 

 

Registered Office :

207/208, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai – 400063, Maharashtra

Tel. No.:

91-22-40332727

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.03.2008

 

 

Com. Reg. No.:

11-180452

 

 

Capital Investment / Paid-up Capital :

Rs.48.789 Million

 

 

CIN No.:

[Company Identification No.]

U51900MH2008PLC180452

 

 

IEC No.:

0393061884

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS59819E

 

 

PAN No.:

[Permanent Account No.]

AALCS8686A

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Active Pharmaceutical Ingredient (API) and Drug Intermediates.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 869000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in 2008. It is the manufacturer, exporter and importer of Active Pharmaceutical Ingredient (API) and Drug Intermediates. It is having satisfactory track.

 

For the financial year ended 2014, company possesses decent operational performance with fair profitability of the company.

 

Further, rating takes into consideration company’s sound financial risk profile supported by adequate net worth base and low debt balance sheet profile of the company.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

In view of the qualified and well experienced promoters, the company can be considered for business dealings at usual trade terms and conditions.

 

 

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

 

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 DECLINED BY

 

Name :

Mr. Prashant

Designation :

Senior Accounts Executive

Contact No.:

91-22-40332727

Date :

25.08.2015

 

 

LOCATIONS

 

Registered/ Corporate Office :

207/208, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai – 400063, Maharashtra, India

Tel. No.:

91-22-40332727/ 66942507

Fax No.:

91-22-26860011

E-Mail :

accounts@supriyalifescience.com

sales@supriyalifescience.com

Website :

www.supriyalifescience.com

 

 

Factory :

A-5/2, Lote Parshuram Industrial Area, M.I.D.C., Chiplun, Taluka Khed, District  Ratnagiri – 415722, Maharashtra, India

Tel. No.:

91-2356-272299

Fax No.:

91-2356-272178

Email :

factory@supriyalifescience.com

 

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Mr. Satish Waman Wagh

Designation :

Managing Director

Address :

4, Prabhas, Plot No.9, H.F. Society Road, Jogeshwari (East), Mumbai – 400 060, Maharashtra, India

Date of Birth/Age :

29.12.1955

Date of Appointment :

01.06.2008

DIN No.:

01456982

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U91110MH1963NPL012677

BASIC CHEMICALS PHARMACEUTICALS AND COSMETICS EXPORT PROMOTION COUNCIL

Managing director

13-01-2004

13-01-2004

Active

NO

2

U51900MH2008PLC180452

SUPRIYA LIFESCIENCE LIMITED

Managing director

01-06-2008

26-03-2008

Active

NO

3

U74999MH2011PTC224367

SUPRIYA MEDI-CHEM PRIVATE LIMITED

Director

24-11-2011

24-11-2011

Active

NO

 

 

Name :

Mrs. Asha Waman Wagh

Designation :

Whole-time Director

Address :

Mangirish Building, Plot No.9, Ground Floor, Hindu Friends Society Road, Gogeshwari (East), Mumbai – 400060, Maharashtra, India

Date of Birth/Age :

19.05.1932

Date of Appointment :

01.06.2008

DIN No.:

00833849

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U51900MH2008PLC180452

SUPRIYA LIFESCIENCE LIMITED

Whole-time director

01-06-2008

26-03-2008

Active

NO

 

 

Name :

Mr. Ananda Narayan Tawar

Designation :

Additional Director

Address :

Flat 512, C Wing, Plot B11-B12, Sector 6, New Panvel (East), Panvel – 410 206, Maharashtra, India

Date of Appointment :

11.10.2014

DIN No.:

06993641

 

 

Name :

Mr. Smita Satish Wagh

Designation :

Whole-Time Director

Address :

Prabhas, Plot No.9, Block No.4, H.F. Society Road, Jogeshwari (East), Mumbai-400060, Maharashtra, India

Date of Appointment :

01.06.2008

DIN No.:

00833912

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U51900MH2008PLC180452

SUPRIYA LIFESCIENCE LIMITED

Whole-time director

01-06-2008

26-03-2008

Active

NO

2

U74999MH2011PTC224367

SUPRIYA MEDI-CHEM PRIVATE LIMITED

Director

24-11-2011

24-11-2011

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Prashant

Designation :

Senior Accounts Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

No. of Shares

 

Satish Waman Wagh

4837950

Asha Waman Wagh

9750

Smita Satish Wagh

21450

Kavita Waman Desai

488

Shankar Sitaram Karmarkar

4388

Deepak Ganpat Chavan

488

Dilip Vadilal Talsania

488

Sonali Satish Wagh

1950

Shivani Satish Wagh

1950

Total

4878902

 

 

AS ON 30.09.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

99.88

Other top fifty shareholders

0.12

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Active Pharmaceutical Ingredient (API) and Drug Intermediates.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Development Credit Bank Limited

601 AND 602, Peninsula Business Park, 6th floor, Tower A, Senapati Bapat Marg, Lower Parel,, Mumbai - 400013, Maharashtra, India

 

·         The Saraswat Cooperative Bank Limited

SME Vile Parle Branch, Bholanath Co-Operative Housing Society, Subhash Road, Vile Parle East, Mumbai - 400057, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

Term loans from banks

83.899

Deferred tax liabilities

23.923

 

 

SHORT TERM BORROWINGS

 

Working capital from bank

(Secured against receivables and stocks)

340.104

Long term loan instalments repayable  within one year

Deferred Payment liabilities

20.282

 

 

Total

468.208

 

Banking Relations :

--

 

 

 

 

Auditors :

 

Name :

P.K. Mutha and Company

Chartered Accountants

Address :

Alankar, 3rd Floor, 208, Samuel Street, Masjid Bunder (West), Mumbai – 400 003, Maharashtra, India

Tel. No.:

91-22-23436467/ 23414361

Fax No.:

91-22-66336963

E-Mail :

pkmutha208@gmail.com

Income-tax PAN of auditor or auditor's firm :

AAFPM3396L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Other Related Parties

(As on 31.03.2013) :

Swastik Industries

 

 

CAPITAL STRUCTURE

 

 

AS ON 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

Rs. 10/- each

Rs.100.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4878902

Equity Shares

Rs. 10/- each

Rs.48.789 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

48.789

48.789

32.526

(b) Reserves & Surplus

255.518

200.062

177.037

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

7.682

7.682

Total Shareholders’ Funds (1) + (2)

304.307

256.533

217.245

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

172.211

105.679

94.043

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

172.211

105.679

94.043

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

473.542

368.009

259.203

(b) Trade payables

308.857

241.032

205.499

(c) Other current liabilities

24.527

17.715

22.133

(d) Short-term provisions

19.095

22.128

18.022

Total Current Liabilities (4)

826.021

648.884

504.857

 

 

 

 

TOTAL

1302.539

1011.096

816.145

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

451.999

385.480

318.733

(ii) Intangible Assets

0.342

0.082

0.103

(iii) Capital work-in-progress

54.518

3.179

3.896

(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

10.010

3.665

3.315

(e) Other Non-current assets

0.908

0.312

0.218

Total Non-Current Assets

517.777

392.718

326.265

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

301.666

302.144

244.842

(c) Trade receivables

278.443

176.793

157.405

(d) Cash and cash equivalents

43.100

30.665

23.386

(e) Short-term loans and advances

161.553

108.776

64.247

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

784.762

618.378

489.880

 

 

 

 

TOTAL

1302.539

1011.096

816.145

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations (Net)

1130.559

921.057

782.588

 

 

Revolution reserve written back

2.580

2.580

0.000

 

 

Other Income

15.905

24.799

21.842

 

 

TOTAL                                     (A)

1149.044

948.436

804.430

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

725.536

605.232

570.454

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(2.757)

(29.875)

(70.178)

 

 

Employees benefits expense

73.732

49.695

39.394

 

 

Other expenses

187.67

185.955

142.727

 

 

TOTAL                                     (B)

984.181

811.007

682.397

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

164.863

137.429

122.033

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

60.456

47.597

37.047

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

104.407

89.832

84.986

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

19.352

15.025

13.801

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

85.055

74.807

71.185

 

 

 

 

 

Less

TAX                                                                  (H)

22.370

26.367

24.500

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

62.685

48.440

46.685

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

NA

509.972

521.780

 

TOTAL EARNINGS

NA

509.972

521.780

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

241.031

156.554

 

 

Capital Goods

NA

3.248

1.004

 

TOTAL IMPORTS

NA

244.279

157.558

 

 

 

 

 

 

Earnings Per Share (Rs.)

12.85

9.93

14.35

 

 

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

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)

(%)

5.54

5.26

5.97

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

14.58

14.92

15.59

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.82

7.42

8.76

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.28

0.29

0.33

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.12

1.85

1.63

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.95

0.95

0.97

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

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

32.526

48.789

48.789

Reserves & Surplus

177.037

200.062

255.518

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

7.682

7.682

0.000

Net worth

217.245

256.533

304.307

 

 

 

 

Long-term borrowings

94.043

105.679

172.211

Short term borrowings

259.203

368.009

473.542

Total borrowings

353.246

473.688

645.753

Debt/Equity ratio

1.626

1.846

2.122

 

 

 

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

782.588

921.057

1130.559

 

 

17.694

22.746

 

 

 

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

782.588

921.057

1130.559

Profit

46.685

48.440

62.685

 

5.97%

5.26%

5.54%

 

 

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)

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

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

10572841

28/05/2015

15,000,000.00

THE SARASWAT COOPERATIVE BANK LIMITED

SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S
UBHASH ROAD, VILE PARLE EAST, MUMBAI- 400057, MAHARASHTRA
, INDIA

C55408223

2

10571238

12/05/2015

65,000,000.00

THE SARASWAT COOPERATIVE BANK LIMITED

SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S
UBHASH ROAD, VILE PARLE EAST, MUMBAI- 400057, MAHARASHTRA
, INDIA

C54504634

3

10536302

27/11/2014

41,000,000.00

THE SARASWAT CO-OP BANK LIMITED

SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S
UBHASH ROAD, VILE PARLE EAST, MUMBAI- 400057, MAHARASHTRA
, INDIA

C36800290

4

10528597

14/10/2014

47,500,000.00

THE SARASWAT CO-OP BANK LIMITED

SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S
UBHASH ROAD, VILE PARLE EAST, MUMBAI- 400057, MAHARASHTRA
, INDIA

C31934300

5

10519805

31/07/2014

19,000,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI- 400018, MAHA
RASHTRA, INDIA

C19793264

6

10519807

31/07/2014

3,600,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI- 400018, MAHA
RASHTRA, INDIA

C19793603

7

10507995

03/07/2014

50,000,000.00

THE SARASWAT CO-OP BANK LIMITED

SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S
UBHASH ROAD, VILE PARLE EAST, MUMBAI- 400057, MAHARASHTRA
, INDIA

C10486090

8

10507223

26/06/2014

30,000,000.00

THE SARASWAT CO-OP BANK LIMITED

SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S
UBHASH ROAD, VILE PARLE EAST, MUMBAI- 400057, MAHARASHTRA
, INDIA

C09996885

9

10469569

20/12/2013

27,500,000.00

THE SARASWAT COOPERATIVE BANK LIMITED

SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S
UBHASH ROAD, VILE PARLE EAST, MUMBAI- 400057, MAHARASHTRA
, INDIA

B93285294

10

10465581

26/11/2013

8,000,000.00

THE SARASWAT COOPERATIVE BANK LIMITED

SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, S
UBHASH ROAD, VILE PARLE EAST, MUMBAI- 400057, MAHARASHTRA
, INDIA

B91713172

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

Loans from Banks and Body Corporate

0.225

Loans from Directors

(2.368)

 

 

SHORT TERM BORROWINGS

 

Unsecured loan installments repayable within one year

7.623

 

 

Total

5.480

 

 

CHANGE OF ADDRESS:

 

The registered office address of the company has been shifted from 4, Prabhas Plot No.9, H.F. Society Road, Jogeshwari (East), Mumbai – 400 060, Maharashtra to present address w.e.f. 16.12.2009

 

 

FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Plant and Machinery

·         Electrical Fittings

·         Furniture and Fixtures

·         Laboratory Equipments

·         Motor Car

·         Office Equipment

·         Air Conditioners

·         Office Premises

·         Books

·         Product Registration

·         Computer

·         Computer Software

·         Motor Cycle

·         Delivery Vehicles

 

 

 

 

 

 

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 records 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. 66.71

UK Pound

1

  Rs. 105.10

Euro

1

Rs. 77.11

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.