MIRA INFORM REPORT
|
Report No. : |
338101 |
|
Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
LUCID COLLOIDS LIMITED (w.e.f. 28.11.2000) VISA HOLDINGS PRIVATE LIMITED AMALGAMATED WITH LUCID COLLOIDS LIMITED |
|
|
|
|
Formerly Known
As : |
LUCID COLLOIDS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
401, Navbharat Estate, Zakaria Bunder Road, Sewri (West), Mumbai – 400
015, Maharashtra |
|
Tel. No.: |
91-22-24158059 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
23.05.1996 |
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|
|
|
Com. Reg. No.: |
11-099800 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.78.750 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24311MH1996PLC099800 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUML04395G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL2673B |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturing, Marketing and Distribution of Guar Gum and Allied
Hydrocolloid Gums. |
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|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1996 and it is engaged in
manufacturing, marketing and distributor of guar gum and allied hydrocolloid
gums. Subject is an established company having satisfactory track record. For the financial year ended 2014, company possesses healthy
operational risk profile and it has achieved revenue of Rs.5683.060 Million
with profit of Rs.155.271 Million as compared to previous revenue (2013) of
Rs.7452.044 million along with a profit of Rs.1567.435 million. Rating also takes into consideration extensive industry experience of
promoters and professional management team supported by healthy capital
structure and comfortable liquidity position. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. Note : As confirmed by Mr. Kulin Dalal, President Finance that “Visa Holdings
Private Limited” was not is operations from last 3 years and it was in process
of amalgamation with “ Lucid Colloids Limited:. Further he also confirmed
that amalgamation approval from statutory authorities on August 2015 and Visa
Holdings Private Limited is no more in existence. |
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 |
CARE |
|
Rating |
Long term bank facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
March 17, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
March 17, 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 PARTED BY (GENERAL INFORMATION)
|
Name : |
Mr. R. S. Prabhu |
|
Designation : |
Senior Export Logistical Manager |
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Contact No.: |
91-9324150016 |
|
Date : |
24.08.2015 |
|
Name : |
Mr. Kulin Dalal |
|
Designation : |
President Finance |
|
Contact No.: |
91-9324150010 |
|
Date : |
24.08.2015 |
LOCATIONS
|
Registered/ Corporate
Office / Factory : |
401, Navbharat Estate, Zakaria Bunder Road, Sewri (West), Mumbai –
400015, Maharashtra, India |
|
Tel. No.: |
91-22-24158059 |
|
Fax No.: |
91-22-24158074/ 75 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
As on 04.09.2014
|
Name : |
Mr. Uday Chaturbhuj Merchant |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
9A, Suvas Apartments, 68-F, L. Jagmohandas Marg, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
26.11.1958 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.01.2014 |
|
PAN No.: |
AABPM8503H |
|
DIN No.: |
00389598 |
|
|
|
|
Name : |
Mrs. Shailaja Uday Merchant |
|
Designation : |
Whole Time Director |
|
Address : |
9A, Suvas Apartments, 68-F, L. Jagmohandas Marg, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
19.11.1958 |
|
Qualification : |
B.Sc, M.Sc in Bio Chemistry |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AAHPM0649Q |
|
DIN No.: |
00389482 |
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|
|
|
Name : |
Mrs. Anima Bhupendra Kapadia |
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Designation : |
Director |
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Address : |
Gita, ‘B’ Wing, Flat No.73, 8th Floor, Pandita Ramabai Road,
Mumbai – 400 007, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1951 |
|
Qualification : |
LLB |
|
Date of Appointment : |
04.09.2014 |
|
DIN No.: |
00095831 |
|
|
|
|
Name : |
Mr. Marezban Padam Bharucha |
|
Designation : |
Director |
|
Address : |
7/E, Harbour Heights – A, N. A. Sawant Road, Colaba, Mumbai – 400 005,
Maharashtra, India |
|
Date of Birth/Age : |
29.10.1958 |
|
Qualification : |
LLB |
|
Date of Appointment : |
04.09.2014 |
|
DIN No.: |
00361911 |
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|
|
|
Name : |
Anand Jayant Vashi |
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Designation : |
Director |
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Address : |
D/5, Mehta Estate,262-B, Jaykar Marg, Mumbai – 400002, Maharashtra,
India |
|
Date of Birth/Age : |
06.04.1953 |
|
Date of Appointment : |
25.09.2013 |
|
DIN No.: |
00003531 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Vasantlal Vaza |
|
Designation : |
Secretary |
|
Address : |
B-102, 1st Floor, Janki Niwas CHS Limited, Tapovan, Rani
Sati Marg, Malad (East), Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1974 |
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Date of Appointment : |
01.04.2013 |
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|
|
|
Name : |
Mr. Suresh Devadiga |
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Designation : |
Finance Head |
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|
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|
Name : |
Mr. Prabhu |
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Designation : |
Senior Export Logistical Manager |
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|
|
|
Name : |
Mr. Kulin Dalal |
|
Designation : |
President Finance |
MAJOR SHAREHOLDERS
As on 04.09.2014
|
Names of Shareholders |
No. of Shares |
|
Uday C. Merchant |
903182 |
|
Shailaja U. Merchant |
398529 |
|
Lucid Technologies Private Limited,
India |
1 |
|
Lucid Flavitalia Private Limited, India |
1 |
|
Visa Holdings Private Limited, India |
2385501 |
|
Uday C. Merchant Jt. With Shailaja U. Merchant |
1879400 |
|
Uday C. Merchant HUF |
205370 |
|
Shailaja U Merchant Jt. With Uday C. Merchant |
644400 |
|
Dhruti A. Vashi |
76 |
|
Kunal U. Merchant Jt. With Mrs. Shailaja U. Merchant |
1184940 |
|
Paolomi U. Merchant Jt. With Mrs. Shailaja U. Merchant |
273600 |
|
Total |
7875000 |
As on 04.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
30.29 |
|
Directors or relatives of Directors |
69.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Marketing and Distribution of Guar Gum and Allied
Hydrocolloid Gums. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage, 127, Mahatma Gandhi Road, Mumbai – 400 001,
Maharashtra, India |
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Tel. No.: |
91-22-61587200 |
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Fax No.: |
91-22-22673964 |
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PAN No.: |
AAAFK7554R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2014
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 |
|
|
|
|
|
|
7875000 |
Equity Shares |
Rs.10/-each |
Rs.78.750
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 |
78.750 |
78.750 |
78.750 |
|
(b) Reserves &
Surplus |
2767.897 |
2612.625 |
1136.716 |
|
(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) |
2846.647 |
2691.375 |
1215.466 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
178.699 |
|
(b) Deferred tax
liabilities (Net) |
25.488 |
20.855 |
15.295 |
|
(c) Other long term
liabilities |
9.963 |
0.249 |
0.120 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
35.451 |
21.104 |
194.114 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
684.393 |
381.103 |
831.161 |
|
(b) Trade payables |
34.510 |
11.967 |
720.173 |
|
(c) Other current
liabilities |
56.602 |
34.907 |
338.831 |
|
(d) Short-term provisions |
1.581 |
112.729 |
335.714 |
|
Total Current Liabilities
(4) |
777.086 |
540.706 |
2225.879 |
|
|
|
|
|
|
TOTAL |
3659.184 |
3253.185 |
3635.459 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
586.846 |
592.648 |
493.557 |
|
(ii) Intangible Assets |
9.422 |
10.645 |
0.371 |
|
(iii) Capital
work-in-progress |
315.226 |
9.828 |
75.940 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
98.439 |
102.713 |
87.157 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
119.820 |
63.526 |
23.167 |
|
(e) Other Non-current
assets |
1.945 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1131.698 |
779.360 |
680.192 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
261.459 |
656.336 |
0.000 |
|
(b) Inventories |
489.516 |
594.172 |
1718.192 |
|
(c) Trade receivables |
1054.019 |
745.613 |
558.271 |
|
(d) Cash and cash
equivalents |
617.709 |
341.722 |
3.157 |
|
(e) Short-term loans and
advances |
102.662 |
132.660 |
673.368 |
|
(f) Other current assets |
2.121 |
3.322 |
2.279 |
|
Total Current Assets |
2527.486 |
2473.825 |
2955.267 |
|
|
|
|
|
|
TOTAL |
3659.184 |
3253.185 |
3635.459 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
5638.191 |
7395.572 |
7397.954 |
|
|
Other Income |
44.869 |
56.472 |
1.803 |
|
|
TOTAL |
5683.060 |
7452.044 |
7399.757 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4535.279 |
4273.696 |
5171.410 |
|
|
Purchases of
Stock-in-Trade |
76.053 |
87.243 |
175.218 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
69.012 |
62.547 |
(238.495) |
|
|
Employees benefits
expense |
291.353 |
190.057 |
69.099 |
|
|
Other expenses |
383.240 |
384.178 |
537.818 |
|
|
TOTAL |
5354.937 |
4997.721 |
5715.050 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
328.123 |
2454.323 |
1684.707 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
7.676 |
45.595 |
206.917 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
320.447 |
2408.728 |
1477.790 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
69.543 |
65.733 |
37.819 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
250.904 |
2342.995 |
1439.971 |
|
|
|
|
|
|
|
Less |
TAX |
95.633 |
775.560 |
503.856 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
155.271 |
1567.435 |
936.115 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
19.72 |
199.04 |
118.87 |
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 flows from (used in) operation |
141.094 |
2872.277 |
162.549 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
2.73 |
21.03 |
12.65 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.81
|
33.18 |
22.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.73 |
74.60 |
41.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.87 |
1.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.24 |
0.14 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.25 |
4.58 |
1.33 |
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 |
78.750 |
78.750 |
78.750 |
|
Reserves & Surplus |
1136.716 |
2612.625 |
2767.897 |
|
Net worth |
1215.466 |
2691.375 |
2846.647 |
|
|
|
|
|
|
long-term borrowings |
178.699 |
0.000 |
0.000 |
|
Short term borrowings |
831.161 |
381.103 |
684.393 |
|
Total borrowings |
1009.860 |
381.103 |
684.393 |
|
Debt/Equity ratio |
0.831 |
0.142 |
0.240 |
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 |
7397.954 |
7395.572 |
5638.191 |
|
|
|
(0.032) |
(23.763) |
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 |
7397.954 |
7395.572 |
5638.191 |
|
Profit |
936.115 |
1567.435 |
155.271 |
|
|
12.65% |
21.19% |
2.75% |
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 |
|
|
12] |
Voter Id Card No. of Proprietor / Partners |
|
|
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 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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
RESULTS OF
OPERATIONS:
The Directors have to inform you that, for the year. The Company has achieved a total turnover of Rs. 5683.061 Million as against Rs. 7452.045 Million in the corresponding previous year.
During the second half of 2012 and during the year prices of Guar Gum continued to decline significantly. Margins also declined as availability of raw material significantly improved as well as substantial new capacity in the industry came on stream. The 2013 Indian Guar crop was an all-time record crop of almost 3 million metric tonnes and a carry-over stock from previous years of about 0.7 million metric tonnes.
The Net Profit Before Tax for the year is Rs. 250.905 Million and Net Profit After Tax for the year is Rs. 155.271 Million as against Rs. 2342.994 Million and Rs. 1567.434 Million respectively in the corresponding previous year.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10568027 |
06/05/2015 * |
947,250,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN
BUILDING, GROUND FLOOR, 17, R. KAMANI MARG,, |
C52998556 |
|
2 |
10568023 |
21/04/2015 |
947,250,000.00 |
INTERNATIONAL FINANCE CORPORATION |
2121
Pennsylvania Avenue, N.W., Washington DC, - |
C52982022 |
|
3 |
10553792 |
04/03/2015 |
20,000,000.00 |
HDFC BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C45974151 |
|
4 |
10547067 |
15/01/2015 |
220,000,000.00 |
HDFC BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C42451617 |
|
5 |
10530196 |
03/11/2014 |
450,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E),, Mumbai, Maharashtra - 400051, INDIA |
C32946899 |
|
6 |
90213664 |
17/11/2014 * |
1,465,000,000.00 |
BANK OF BARODA |
NARIMAN POINT BRANCH, FORESHORE BUILDING,, GEN BHOSALE MARG,NR.SACHIVALAYA GYM, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
C36637445 |
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.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
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 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
50 |
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.
S