MIRA INFORM REPORT
|
Report No. : |
352451 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYNERGENE ACTIVE INGREDIENTS PRIVATE LIMITED (w.e.f. 17.09.2007) |
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Formerly Known
As : |
CHEMY LABS PRIVATE LIMITED |
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Registered
Office : |
H. No. 7-1-638 to 643 and 643/ 1, Flat No. 302, Bhanu Enclave, Behind
ESI Hospital, Erragadda, Hyderabad – 500038, Telangana |
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Tel. No.: |
91-40-23700421 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 [Partial] |
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Date of
Incorporation : |
17.08.2005 |
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Com. Reg. No.: |
36-047137 |
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Capital
Investment / Paid-up Capital : |
Rs.150.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U24239TG2005PTC047137 |
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IEC No.: |
0906016657 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDC03211F |
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PAN No.: [Permanent Account No.] |
AACCC6685Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Bulk Drugs, API’s and Intermediates. (Registered Activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 720000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2005 having
a satisfactory track. The company possesses an above average financial risk profile marked
by healthy networth base and decent liquidity position of the company. The rating also takes into consideration good profit margin of the
company. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct and as per commitments. In view of long track record and sound financial base, the company can
be considered normal 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 |
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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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
14.10.2015 |
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
31-03-2015.
INFORMATION DENIED
Management Non Co-Operative (91-40-23812317)
LOCATIONS
|
Registered / Corporate Office : |
H. No. 7-1-638 to 643 and 643/ 1, Flat No. 302, Bhanu Enclave, Behind ESI
Hospital, Erragadda, Hyderabad – 500038, Telangana, India |
|
Tel. No.: |
91-40-23700421/ 23812317/ 23813969/
23700994 |
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Fax No.: |
91-40-23705088/ 23700794 |
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E-Mail : |
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Website : |
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Factory : |
Unit – II, Plot No. 59 D, JNPC, Parawada, Visakhapatnam, Andhra Pradesh, India |
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Tel. No.: |
91-8924-236138/ 236144 |
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Fax No.: |
91-8924-236139 |
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E-Mail : |
DIRECTORS
AS ON 14.08.2014
|
Name : |
Mr. Venkateswara Rao Nandepu |
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Designation : |
Director |
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Address : |
H. No: 7-1-63, Flat No:204,
Millennum Royal,Block-A, Dharam Karam Road, Opposite Chella Nursing Home
Lane, Ameerpet - 500016, Telangana, India |
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Date of Birth/Age : |
17.12.1963 |
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Date of Appointment : |
04.09.2006 |
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PAN No. : |
ABVPN5924C |
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DIN No.: |
00092757 |
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Other Directorship :
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Name : |
Veera Venkata Rama Vijaya Lakshmi Nandepu |
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Designation : |
Director |
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Address : |
H. No: 7-1-63, Flat No: 204,Millenium Royal, Block - A, Dharamkaram Road, Ameer Pet, Hyderabad - 500016, Telangana, India |
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Date of Birth/Age : |
16.06.1964 |
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Date of Appointment : |
04.09.2006 |
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PAN No. : |
ADPPN8205L |
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DIN No.: |
00092882 |
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Other Directorship :
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Name : |
Nalla Surya Prakash Rao |
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Designation : |
Managing Director |
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Address : |
8-3-167/D/204, F-1, Sri Sadan Apartments, Kalyannagar X Roads, Vengalaraonagar, Hyderabad - 500003, Telangana, India |
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Date of Birth/Age : |
25.04.1964 |
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Date of Appointment : |
29.09.2006 |
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PAN No. : |
ABFPN1345K |
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DIN No.: |
00092929 |
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Other Directorship :
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Name : |
Nalla Hymavathi |
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Designation : |
Director |
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Address : |
8-3-167/D/204, F-1, Sri Sadan
Apartments, Kalyannagar X Roads, Vengalarao Nagar, Hyderabad - 500003, Telangana,
India |
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Date of Birth/Age : |
07.09.1973 |
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Date of Appointment : |
04.09.2006 |
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PAN No. : |
ABUPN8695F |
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DIN No.: |
00093000 |
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Other Directorship :
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MAJOR SHAREHOLDERS
AS ON 14.08.2014
|
Names of Shareholders |
No. of Shares |
|
N Surya Prakash Rao |
5600000 |
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N. Venkateswara Rao |
5600000 |
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N. Hymavathi |
1400000 |
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N. VVR Vijaya Lakshmi |
1400000 |
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|
|
|
Total |
14000000 |
AS ON 09.01.2015
|
Names of Allottees |
No. of Shares |
|
N Surya Prakash Rao |
400000 |
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N. Venkateswara Rao |
400000 |
|
N. Hymavathi |
100000 |
|
N. VVR Vijaya Lakshmi |
100000 |
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|
|
|
Total |
1000000 |
Equity Share Breakup
AS ON 14.08.2014
|
Category |
% of Holding |
|
Directors
or relatives of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Drugs, API’s and Intermediates. (Registered Activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
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Facilities : |
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Financial Institutions : |
· Magma Fincorp Limited, Magam House, 24 Park Street, Kolkata - 700016, West Bengal, India · Siemens Financial Services Private Limited, 130, Pandurang Budhkar Marg, Worli, Mumbai - 400018, Maharashtra, India |
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Name : |
B Nagaraja Rao and Associates Chartered Accountants |
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Address : |
166,
Kasyapa Nivas, Kalyan Nagar III, Hyderabad – 500018, Telangana, India |
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PAN No.: |
AAQPB9139F |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associate : |
Metrochem API Private Limited
(U24239AP2002PTC039223) |
CAPITAL STRUCTURE
AS ON 31.03.2015
[PARTIAL DETAILS]
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 150.000 Million
AFTER 14.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Million |
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AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs. 10/- each |
Rs. 140.000 Million |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs. 10/- each |
Rs. 140.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
VALUE ADDITION AND DISTRIBUTION
OF EARINGS
|
Particulars |
31.03.2015 (Partial Details) |
|
Share capital |
150.000 |
|
Reserves and surplus |
103.421 |
|
Long-term borrowings |
26.574 |
|
Gross fixed assets |
338.908 |
|
Net fixed assets |
246.181 |
|
Current assets |
543.400 |
|
Current liabilities |
365.564 |
|
Net current assets |
177.837 |
|
Capital employed |
387.694 |
|
Net worth |
253.421 |
|
Value added of company |
140.965 |
|
Net revenue from operations of company |
854.378 |
|
Profit before tax |
34.869 |
|
Particulars |
31.03.2015 (Partial Details) |
|
Gross revenue from operations of company |
942.440 |
|
Excise and other duties of company |
88.062 |
|
Net revenue from operations of company for value addition |
854.378 |
|
Adjustments in work-in-progress and finished stocks of company |
9.212 |
|
Cost of materials consumed of company |
640.210 |
|
Cost of process materials or chemicals of company |
0.000 |
|
Cost of stores and spares consumed of company |
24.882 |
|
Cost of utilities of company |
10.969 |
|
Cost of other bought out inputs of company |
46.565 |
|
Total cost of bought out inputs of company |
722.626 |
|
Value added of company |
140.965 |
|
Other incomes of company |
4.859 |
|
Extraordinary income |
0.000 |
|
Earnings available for distribution |
145.824 |
|
To employees as salaries, wages, retirement benefits and others |
58.614 |
|
To shareholders as dividend |
0.000 |
|
Funds retained by company |
41.487 |
|
To government as taxes |
12.661 |
|
Extraordinary expenses |
33.362 |
|
Total distribution of
earnings |
145.824 |
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 |
140.000 |
120.000 |
100.000 |
|
(b) Reserves & Surplus |
81.494 |
60.963 |
38.857 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
6.725 |
|
Total
Shareholders’ Funds (1) + (2) |
221.494 |
180.963 |
145.582 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
33.976 |
25.592 |
38.830 |
|
(b) Deferred tax liabilities (Net) |
12.654 |
11.889 |
10.731 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
2.285 |
1.734 |
0.851 |
|
Total
Non-current Liabilities (3) |
48.915 |
39.215 |
50.412 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
113.929 |
111.378 |
110.112 |
|
(b)
Trade payables |
295.829 |
263.449 |
241.947 |
|
(c)
Other current liabilities |
35.494 |
30.179 |
34.741 |
|
(d)
Short-term provisions |
10.200 |
5.600 |
2.443 |
|
Total
Current Liabilities (4) |
455.452 |
410.606 |
389.243 |
|
|
|
|
|
|
TOTAL |
725.861 |
630.784 |
585.237 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
228.714 |
215.067 |
213.004 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
19.688 |
8.651 |
10.001 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.622 |
|
(b) Non-current
Investments |
0.250 |
0.250 |
0.250 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
12.932 |
17.527 |
9.400 |
|
(e)
Other Non-current assets |
0.097 |
0.195 |
0.293 |
|
Total
Non-Current Assets |
261.681 |
241.690 |
233.570 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
254.775 |
226.568 |
209.689 |
|
(c)
Trade receivables |
191.592 |
139.481 |
120.111 |
|
(d)
Cash and cash equivalents |
8.237 |
9.543 |
9.741 |
|
(e)
Short-term loans and advances |
2.411 |
0.814 |
1.299 |
|
(f)
Other current assets |
7.165 |
12.688 |
10.827 |
|
Total
Current Assets |
464.180 |
389.094 |
351.667 |
|
|
|
|
|
|
TOTAL |
725.861 |
630.784 |
585.237 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
|
|
TOTAL TURNOVER |
854.300 |
|
|
|
|
|
Less |
EXPENSES |
NA |
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
|
|
|
|
|
Less |
TAX |
NA |
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
20.531 |
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.47 |
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
686.497 |
562.163 |
|
|
|
Other Income |
4.472 |
0.787 |
|
|
|
TOTAL |
690.969 |
562.950 |
|
|
|
|
|
|
|
Less |
EXPENSES |
647.806 |
521.147 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
43.163 |
41.803 |
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION |
17.747 |
16.380 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
25.416 |
25.423 |
|
|
|
|
|
|
|
|
Less |
TAX |
6.759 |
9.019 |
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ADJUSTMENTS |
1.907 |
0.408 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
20.564 |
16.812 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.72 |
1.68 |
|
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) |
(%) |
NA |
3.00 |
2.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
NA |
4.09 |
4.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.14 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.67 |
0.76 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
0.95 |
0.90 |
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 |
100.000 |
120.000 |
140.000 |
|
Reserves & Surplus |
38.857 |
60.963 |
81.494 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
6.725 |
|
Net
worth |
138.857 |
180.963 |
228.219 |
|
|
|
|
|
|
Long-term borrowings |
38.830 |
25.592 |
33.976 |
|
Short term borrowings |
110.112 |
111.378 |
113.929 |
|
Total
borrowings |
148.942 |
136.970 |
147.905 |
|
Debt/Equity
ratio |
1.073 |
0.757 |
0.648 |
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 |
Yes |
|
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 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from Plot No.
27/A, Model Colony, Sundar Nagar, Hyderabad - 500018, Telangana, India to the
present address w.e.f. 23.10.2006.
STATE OF AFFAIRS OF
THE COMPANY:
The products manufactured by the company in the business of bulk drugs, API’s and intermediates, have received good response from the pharma industry at the national level. The company has manufactured various new bulk drugs, APIs and intermediates in the current financial year. During the year the company has achieved an Export turnover of Rs.126.000 million out of a total turnover of Rs 854.300 Million. The Company feels that the results of the operations for the current year are quite satisfactory as compared to the previous years.
The products manufactured by the unit are as per the GMP and WHO standards and both the units have got ISO 9001-2008 Certifications. And Unit-I got CEP for Fluconazole, it helps to improve Export turnover and enter in to the European market.
The company has improved its own Research and development facility which caters to the in-house research and development requirements. The company has drawn plans to further introduce new products of various therapeutic categories in the near future. The company has taken part in international exhibitions, which could help the company to obtain orders from the international markets.
As per the recent IMS forecast, around 5-8 % of annual growth of pharmaceutical industries in the year 2014 due to reflects the impact of leading products losing patent protection during this year period.
The total business of the company has gone up to Rs.773.600 million for the year ended 31.03.2014 when compared to RS 686.500 million in the previous year 2012-13
INDUSTRY SCENARIO-VIS
A VIS THE COMPANY
As the bulk drug and intermediates sector for the company is improving. The exports Markets for the bulk drugs are also increasing for the company. Due to this the company expects to improve the business in the coming years as company always maintains the quality standards prevalent in the industry.
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10478298 |
10/02/2014 |
9,999,999.00 |
MAGMA
FINCORP LIMITED |
MAGAM
HOUSE, 24 PARK STREET, KOLKATA - 700016, WEST BENGAL, INDIA |
B96662135 |
|
2 |
10477806 |
06/02/2014 |
3,503,062.00 |
RELIANCE
CAPITAL LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI -
400710, MAHARASHTRA, INDIA |
B96452867 |
|
3 |
10413649 |
31/01/2013 |
7,688,610.00 |
SIEMENS
FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG
BUDHKAR MARG, WORLI, MUMBAI - 400018, MAHA |
B71401368 |
|
4 |
10040177 |
22/01/2015
* |
263,000,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, MID CORPORATE BRANCH, BANK STR |
C43993526 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Factory Equipment’s
·
Other Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
·
Other Equipment’s
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 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.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
|
47 |
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.