MIRA INFORM REPORT
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Report No. : |
350825 |
|
Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
RESINS AND PLASTICS LIMITED |
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Registered
Office : |
Plot No. A-8, Marol Industrial Estate of M.I.D.C., Cross Road-B, Street No.5, Andheri (East), Mumbai – 400093, Maharashtra |
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Tel. No.: |
91-22-61987000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
22.12.1961 |
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Com. Reg. No.: |
11-012223 |
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Capital
Investment / Paid-up Capital : |
Rs.35.723 Million |
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CIN No.: [Company Identification
No.] |
L25209MH1961PLC012223 |
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IEC No.: |
0388003235 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACR1888C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is Synthetic Resin manufacturer catering to a wide
range of industries today such as Adhesives, Coatings, Printing Inks,
Insulating Varnishes, Wire Enamels, Lamination, Construction, Cosmetics and
Textiles. (Registered Activity) |
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|
|
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 805000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a reputed company incorporated in the year 1961. Over the years company has established itself as Synthetic Resin manufacturer catering to a wide range of industries today such as Adhesives, Coatings, Printing Inks, Insulating Varnishes, Wire Enamels, Lamination, Construction, Cosmetics and Textiles. The company has registered healthy scale of operations marked by top
line growth of 7.1% along with profitability margin of 3.74% in the FY-14. The company has strong financial base, efficient networth position
along with negligible borrowings. It has efficient cash accruals marked by
good gap between trade payables and receivables. Rating takes into consideration long business track record. The
extensive experience of its promoters and healthy market position. Trade relations are fair. Business is active. Payments are regular and as per
commitments. In view of aforesaid, 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Nilesh |
|
Designation : |
Purchase Department |
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Contact No.: |
91-22-65517200 |
|
Date : |
01.12.2015 |
LOCATIONS
|
Registered Office : |
Plot No. A-8, Marol Industrial Estate of M.I.D.C., Cross Road-B, Street No.5, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-61987000 |
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Fax No.: |
91-22-61987099 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No 3-A , Taloje Industrial Estate of MIDC, P B No. 6, Taloje A. V., Raigad -410208, Maharashtra, India |
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Factory 2 : |
3607, GIDC Industiral Estate, Ankleshwar, Bharuch – 393002, Gujarat, India |
DIRECTORS
As on 29.07.2014
|
Name : |
Mr. Rupen Ashwin Choksi |
|
Designation : |
Managing Director |
|
Address : |
11-A, Jeevan Asha, 60-A, Peddar Road, Mumbai, 400026, Maharashtra, India |
|
Date of Birth/Age : |
02.08.1976 |
|
Date of Appointment : |
21.06.2007 |
|
DIN No.: |
00059326 |
|
|
|
|
Name : |
Mr. Gobind Jhamatmal Lulla |
|
Designation : |
Managing Director |
|
Address : |
32, Kalpitam, Plot No.370, 16 Road,, TPS Iii, Bandra (West), Mumbai, 400050, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1954 |
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Date of Appointment : |
28.09.2010 |
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DIN No.: |
03298602 |
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|
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Name : |
Mr. Dhiren Purushottamdas Mehta |
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Designation : |
Director |
|
Address : |
804, Vastu Shilp, Behind Manish Park, R. J. Road, Pump House, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1952 |
|
Date of Appointment : |
08.12.2009 |
|
DIN No.: |
00001471 |
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|
|
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Name : |
Mr. Ashwin Suryakant Dani |
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Designation : |
Director |
|
Address : |
Home Villa, 48, Krishna Sanghi Path, Mumbai - 400007, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1942 |
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Date of Appointment : |
13.01.1970 |
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DIN No.: |
00009126 |
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|
|
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Name : |
Mr. Abhay Arvind Vakil |
|
Designation : |
Director |
|
Address : |
Geetanjali, 9N, Gamadia Road, Off Peddar Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1950 |
|
Date of Appointment : |
01.02.2012 |
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DIN No.: |
00009151 |
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|
|
|
Name : |
Mr. Bharat Bhogilal Chovatia |
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Designation : |
Director |
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Address : |
10, Sanjog, 18 Pherozshah Road, Santacruz (West), Mumbai - 400054, Maharashtra, India |
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Date of Birth/Age : |
13.09.1954 |
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Date of Appointment : |
28.08.2002 |
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DIN No.: |
00271613 |
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|
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Name : |
Mr. Chetan Shashikant Thakkar |
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Designation : |
Director |
|
Address : |
B/801 Augustus Building No. 1, Wing B CTS No 373, /390, Village Deonar, Govandi, Off V N Purav Margm, Mumbai - 400088, Maharashtra, India |
|
Date of Birth/Age : |
18.01.1975 |
|
Date of Appointment : |
06.03.2013 |
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DIN No.: |
03273267 |
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|
|
|
Name : |
Hemangi Nilesh Modi |
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Designation : |
Director |
|
Address : |
101, The Angel, 2 Krishna Sanghi Path, Gamdevi, Mumbai - 400007, Maharashtra, India |
|
Date of Appointment : |
09.07.2015 |
|
DIN No.: |
07232708 |
KEY EXECUTIVES
|
Name : |
Mr. Amar Ashok Kumashi |
|
Designation : |
Company Secretary |
|
Address : |
A-12 Sheetal Apartment, Near Railway Station, Behind Tdcc Bank, Kulgaon, Badlapur (East), Badlapur, 421503, Maharashtra, India |
|
Date of Birth/Age : |
30.09.1988 |
|
Date of Appointment : |
19.05.2014 |
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PAN No.: |
BIRPK8047B |
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|
Name : |
Sunita Rajesh Satpalkar |
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Designation : |
Chief Financial Officer |
|
Address : |
C-303 Aishwarya Enclave, Y.T.Road, Near Dahisar Bridge, Next To Bus Depot, Dahisar West, Mumbai, 400068, Maharashtra, India |
|
Date of Appointment : |
19.05.2014 |
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PAN No.: |
BAZPS3785A |
MAJOR SHAREHOLDERS
As on 29.07.2014
SHAREHOLDERS DETAILS FILE ATTACH
As on 29.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
0.09 |
|
Bodies corporate |
33.55 |
|
Directors or relatives of Directors |
38.57 |
|
Other top fifty shareholders |
8.82 |
|
Trust |
0.01 |
|
Others |
18.96 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Synthetic Resin manufacturer catering to a wide
range of industries today such as Adhesives, Coatings, Printing Inks, Insulating
Varnishes, Wire Enamels, Lamination, Construction, Cosmetics and Textiles. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Shah and Company Chartered Accountants |
|
Address : |
Maker Bhavan 2, Marine Lines, Mumbai – 400020, Maharashtra, India |
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PAN No.: |
AABFS2985F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 29.07.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3661100 |
Equity Shares |
Rs.10/- each |
Rs.36.611
Million |
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3572300 |
Equity Shares |
Rs.10/- each |
Rs.35.723
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
35.723 |
35.723 |
35.723 |
|
(b) Reserves &
Surplus |
246.016 |
215.470 |
191.814 |
|
(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) |
281.739 |
251.193 |
227.537 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
5.565 |
0.885 |
|
(b) Deferred tax
liabilities (Net) |
8.707 |
9.276 |
9.803 |
|
(c) Other long term
liabilities |
0.100 |
0.100 |
0.100 |
|
(d) long-term provisions |
3.356 |
3.069 |
1.782 |
|
Total Non-current
Liabilities (3) |
12.163 |
18.010 |
12.570 |
|
|
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5.265 |
3.817 |
8.260 |
|
(b) Trade payables |
113.717 |
101.592 |
113.871 |
|
(c) Other current
liabilities |
13.621 |
11.442 |
8.037 |
|
(d) Short-term provisions |
14.180 |
15.721 |
17.245 |
|
Total Current Liabilities
(4) |
146.783 |
132.572 |
147.413 |
|
|
|
|
|
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TOTAL |
440.685 |
401.775 |
387.520 |
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
55.685 |
52.246 |
53.087 |
|
(ii) Intangible Assets |
0.745 |
0.710 |
0.089 |
|
(iii) Capital
work-in-progress |
0.615 |
2.869 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.491 |
|
(b) Non-current
Investments |
0.002 |
0.002 |
0.002 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.362 |
1.585 |
3.023 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.274 |
|
Total Non-Current Assets |
58.409 |
57.412 |
56.966 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
97.372 |
90.194 |
92.297 |
|
(c) Trade receivables |
260.160 |
235.148 |
210.007 |
|
(d) Cash and cash
equivalents |
10.493 |
5.448 |
11.084 |
|
(e) Short-term loans and
advances |
13.802 |
13.451 |
17.045 |
|
(f) Other current assets |
0.449 |
0.122 |
0.121 |
|
Total Current Assets |
382.276 |
344.363 |
330.554 |
|
|
|
|
|
|
TOTAL |
440.685 |
401.775 |
387.520 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1149.662 |
1072.906 |
953.941 |
|
|
Other Income |
1.264 |
0.630 |
2.850 |
|
|
TOTAL |
1150.926 |
1073.536 |
956.791 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
938.261 |
887.894 |
791.372 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.052 |
(3.352) |
(5.226) |
|
|
Employees benefits
expense |
48.658 |
45.109 |
42.575 |
|
|
Other expenses |
97.023 |
84.625 |
76.910 |
|
|
TOTAL |
1083.994 |
1014.276 |
905.631 |
|
|
|
|
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|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
66.932 |
59.260 |
51.160 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1.357 |
2.479 |
2.310 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
65.575 |
56.781 |
48.850 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.420 |
4.713 |
3.494 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
61.155 |
52.068 |
45.356 |
|
|
|
|
|
|
|
Less |
TAX |
18.071 |
15.874 |
14.526 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
43.084 |
36.194 |
30.830 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
17.475 |
12.081 |
|
|
TOTAL EARNINGS |
NA |
17.475 |
12.081 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
236.295 |
193.541 |
|
|
TOTAL IMPORTS |
NA |
236.295 |
193.541 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
12.06 |
10.13 |
8.63 |
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) operations |
50.205 |
29.048 |
11.546 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.75 |
3.37 |
3.23 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
5.82 |
5.52 |
5.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.90 |
13.05 |
11.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.21 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02 |
0.04 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60 |
2.60 |
2.24 |
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 |
35.723 |
35.723 |
35.723 |
|
Reserves & Surplus |
191.814 |
215.470 |
246.016 |
|
Net worth |
227.537 |
251.193 |
281.739 |
|
|
|
|
|
|
long-term borrowings |
0.885 |
5.565 |
0.000 |
|
Short term borrowings |
8.260 |
3.817 |
5.265 |
|
Total borrowings |
9.145 |
9.382 |
5.265 |
|
Debt/Equity ratio |
0.040 |
0.037 |
0.019 |
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 |
953.941 |
1072.906 |
1149.662 |
|
|
|
12.471 |
7.154 |
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 |
953.941 |
1072.906 |
1149.662 |
|
Profit |
30.830 |
36.194 |
43.084 |
|
|
3.23% |
3.37% |
3.75% |
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 |
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 |
No |
|
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 |
CORPORATE INFORMATION
NOTE ON BUSINESS ACTIVITY
Subject is pioneer and one of India’s leading Synthetic Resin manufacturer catering to a wide range of industries today such as Adhesives, Coatings, Printing Inks, Insulating Varnishes, Wire Enamels, Lamination, Construction, Cosmetics and Textiles. RPL commenced its operations in 1971 for manufacturing Alkyd Resins, Epoxy Resins, Ketonic Resins, Phenolic Resins some of which are import substitutes. RPLs manufacturing facilities are located at MIDC, Taloja in Maharashtra and GIDC, Ankleshwar in Gujarat. RPLs strength lies in its R & D, manufacturing and strong distribution network consisting of own sales offices and branches across the country and also deals through a few major distributors across different regions.
OPERATIONS
The total revenue from operations for the year has grown by 7.15% from Rs.1072.907 Million in the previous year to Rs.1149.662 Million.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Public Deposits |
0.000 |
5.565 |
|
SHORT TERM
BORROWING |
|
|
|
Deposits |
5.265 |
0.685 |
|
Total |
5.265 |
6.250 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10399944 |
06/06/2013 * |
56,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA |
B77804730 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Motor Vehicles
- Office Equipment
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.66.81 |
|
|
1 |
Rs.100.36 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
69 |
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.