MIRA INFORM REPORT
|
Report No. : |
354038 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
BENZO CHEM INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
26/28-A, Cawasji Patel Street, Fort, Mumbai-400001, Maharashtra |
|
Tel. No.: |
91-22-43555888 |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
01.12.1986 |
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Com. Reg. No.: |
11-041751 |
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Capital
Investment / Paid-up Capital : |
Rs. 54.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1986PTC041751 |
|
|
|
|
IEC No.: |
0388000180 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB11878G |
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|
|
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PAN No.: [Permanent Account No.] |
AAACB3369G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Biocides, Pharmaceutical and Performance Chemicals.
(Confirmed by Management) |
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|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1986. It
has fine track. As per the Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2015 but the documents related to the
financials are not available from any sources. For the financial year ended 2014, the company has healthy operational
profile marked by upstanding top line growth along with profitability margin
of 11.3%. The company possesses strong financial base, adequate net worth position
backed by negligible borrowings along with favourable gap between trade
payables and receivables. Trade relations are fair. Business is active. Payments are regular. In view of extensive experience of its promoters, the company can be
considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Facilities=A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
30.02.2015 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank Facilities=A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
30.02.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Umesh Rajaram Shetkar |
|
Designation : |
Director |
|
Contact No.: |
91-9833214264 |
|
Date : |
09.12.2015 |
LOCATIONS
|
Registered Office : |
26/28-A, Cawasji Patel Street, Fort, Mumbai-400001, Maharashtra, India
|
|
Tel. No.: |
91-22-43555888 |
|
Mobile No.: |
91-9833214264 (Mr. Umesh Rajaram Shetkar) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location: |
Owned |
|
Locality : |
Commercial |
|
|
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|
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|
|
Factory 1 : |
E-13/14, MIDC Area, Jalgaon - 425003, Maharashtra, India |
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Tel. No.: |
91-257-2210241 |
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|
|
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Factory 2 : |
B-26/27, MIDC Area, Dasarkhed, Malkapur - 443101, Buldhana, Maharashtra, India |
|
Tel. No.: |
91-7267-252365 |
|
|
|
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Factory 3 : |
W-24, MIDC, Chemical Zone, Ambernath (West) - 421501, Maharashtra, India |
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Tel. No.: |
91-251-2604616 / 2607228 |
|
|
|
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Factory 4: |
B-24/25, MIDC, Dasharkhed, District Budhana, Malkapur – 443101, Maharashtra, India |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Surendra Kumar Mohatta |
|
Designation : |
Managing director |
|
Address : |
Floor 15 and 16, Plot No.85, Mittal Grandeur, Khatau Road, Cuffe Parade, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1955 |
|
Date of Appointment : |
01.12.1986 |
|
PAN No.: |
AAOPM7620E |
|
DIN No.: |
00388893 |
|
|
|
|
Name : |
Mr. Gaurav Surendra Kumar Mohatta |
|
Designation : |
Whole-time director |
|
Address : |
R/7, Floor 15 and 16, Plot No. 85, Mittal Grandeur, Khatau
Road, Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1981 |
|
Date of Appointment : |
01.11.2004 |
|
PAN No.: |
AGQPM0992H |
|
DIN No.: |
00604061 |
|
|
|
|
Name : |
Mrs. Vimladevi Mohatta |
|
Designation : |
Director |
|
Address : |
R/7, Floor 15 and 16, Plot No. 85, Mittal Grandeur, Khatau
Road, Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Appointment : |
10.11.1987 |
|
PAN No.: |
AAHPM4463C |
|
DIN No.: |
01637277 |
|
|
|
|
Name : |
Mr. Sunil Shantilal Nawal |
|
Designation : |
Director |
|
Address : |
301 Lotus Highland Residency, Nr Shruti Park Dokalinaka
Thane, Thane- 400607, Maharashtra, India |
|
Date of Appointment : |
01.02.2012 |
|
DIN No.: |
05209816 |
|
|
|
|
Name : |
Mr. Umesh Rajaram Shetkar |
|
Designation : |
Director |
|
Address : |
602/5, Wimbledon Park,, Pokharan Road No.1, Opposite
Singhaniya High School, Thane-400606, Maharashtra, India |
|
Date of Appointment : |
05.05.2014 |
|
DIN No.: |
06855946 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Surendra Kumar Mohatta |
|
818000 |
|
Madhu Mohatta and Surendra Kumar Mohatta |
|
196500 |
|
Vimladevi Mohattakml |
|
830000 |
|
Surendra Kumar Mohatta HUF |
|
540000 |
|
Gaurav Mohatta |
|
320000 |
|
Madhu Mohatta |
|
398500 |
|
Gaurav Mohatta HUF |
|
298500 |
|
Ishita Mohatta |
|
135000 |
|
Raj
Rajeshwari Builders |
|
540000 |
|
Ajanta
Traders |
|
479500 |
|
Sashi Kumar
Mohatta |
|
9000 |
|
Gaurav Chemicals (India) Private Limited, India |
|
535000 |
|
Gitanjali Chemicals Private Limited, India |
|
300000 |
|
Total |
|
5400000 |
AS ON 27.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
15.46 |
|
Directors
or relatives of directors |
84.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Of Biocides, Pharmaceutical And Performance Chemicals.
(Confirmed By Management) |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Chemicals |
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Countries : |
· USA · France · Germany · Saudi Arabia · Austria |
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Imports : |
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Products : |
Chemicals |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit (30 days, 60 days and 90 days) |
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Purchasing : |
Cash and Credit (30 days, 60 days and 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
500 (Approximately) |
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Bankers : |
· Kotak Mahindra Bank Limited 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East),
Mumbai- 400051, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M. Saboo and Company Chartered Accountants |
|
Address : |
D-9/002, Yogi Nagar, Eksar Road, Borivali (West), Mumbai – 400091, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AKMPS8826N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises in
which key management personnel and their relatives are interested: |
· Gitanjali Chemicals Private Limited, India (U24110MH1980PTC022341) · Gaurav Chemicals (India) Private Limited, India (U25190MH1987PTC042850) · Raj Rajeshwari Builders · Ajanta Traders · Anisha Maheshwari Beneficiary Trust Associate Trust |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 Million |
|
1,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 10.000 Million |
|
|
Total |
|
Rs. 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,400,000 |
Equity Shares |
Rs. 10/- each |
Rs. 54.000
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 |
54.000 |
64.000 |
70.000 |
|
(b) Reserves & Surplus |
983.848 |
753.233 |
645.360 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
17.400 |
|
Total
Shareholders’ Funds (1) + (2) |
1037.848 |
817.233 |
732.760 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
30.306 |
147.253 |
228.743 |
|
(b) Deferred tax liabilities (Net) |
28.199 |
29.226 |
28.397 |
|
(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) |
58.505 |
176.479 |
257.140 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
53.998 |
109.531 |
69.605 |
|
(b)
Trade payables |
215.572 |
129.718 |
126.265 |
|
(c)
Other current liabilities |
39.026 |
31.349 |
39.080 |
|
(d)
Short-term provisions |
379.873 |
248.175 |
168.825 |
|
Total
Current Liabilities (4) |
688.469 |
518.773 |
403.775 |
|
|
|
|
|
|
TOTAL |
1784.822 |
1512.485 |
1393.675 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
519.228 |
526.620 |
471.155 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
23.290 |
3.828 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
542.518 |
530.448 |
471.155 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
3.099 |
3.099 |
3.760 |
|
(b)
Inventories |
294.905 |
235.160 |
199.722 |
|
(c)
Trade receivables |
499.854 |
422.216 |
476.957 |
|
(d)
Cash and cash equivalents |
5.655 |
25.304 |
11.287 |
|
(e)
Short-term loans and advances |
438.723 |
296.123 |
230.591 |
|
(f)
Other current assets |
0.068 |
0.135 |
0.203 |
|
Total
Current Assets |
1242.304 |
982.037 |
922.520 |
|
|
|
|
|
|
TOTAL |
1784.822 |
1512.485 |
1393.675 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2057.824 |
1818.095 |
1781.346 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
421.876 |
340.838 |
371.370 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.410 |
24.048 |
38.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
412.466 |
316.790 |
332.742 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.016 |
44.905 |
35.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
363.450 |
271.885 |
297.528 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
128.974 |
90.829 |
98.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
234.476 |
181.056 |
199.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
655.432 |
488.560 |
328.040 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
10.000 |
20.000 |
|
|
|
Proposed Dividend |
3.300 |
3.600 |
15.900 |
|
|
|
Dividend Tax Payable |
0.560 |
0.584 |
2.580 |
|
|
BALANCE CARRIED
TO THE B/S |
866.048 |
655.432 |
488.560 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
1236.133 |
963.517 |
1112.840 |
|
|
TOTAL EARNINGS |
1236.133 |
963.517 |
1112.840 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Imports on CIF basis |
496.413 |
532.752 |
NA |
|
|
TOTAL IMPORTS |
496.413 |
532.752 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
43.31 |
33.36 |
28.43 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2500.000 |
|
|
|
|
|
The above information has been parted by Mr. Umesh Rajaram Shetkar
(Director)
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 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
296.022 |
392.907 |
127.603 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
11.39 |
9.96 |
11.17 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
20.50 |
18.75 |
20.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.63 |
18.02 |
21.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.33 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.08 |
0.31 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80 |
1.89 |
2.28 |
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 |
70.000 |
64.000 |
54.000 |
|
Reserves & Surplus |
645.360 |
753.233 |
983.848 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
17.400 |
0.000 |
0.000 |
|
Net
worth |
732.760 |
817.233 |
1037.848 |
|
|
|
|
|
|
Long-term borrowings |
228.743 |
147.253 |
30.306 |
|
Short term borrowings |
69.605 |
109.531 |
53.998 |
|
Total
borrowings |
298.348 |
256.784 |
84.304 |
|
Debt/Equity
ratio |
0.407 |
0.314 |
0.081 |
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 |
1781.346 |
1818.095 |
2057.824 |
|
|
|
2.063 |
13.186 |
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 |
1781.346 |
1818.095 |
2057.824 |
|
Profit |
199.000 |
181.056 |
234.476 |
|
|
11.17% |
9.96% |
11.39% |
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 |
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) |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10580511 |
23/06/2015 |
290,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI- 400051, MAHARASHTRA, INDIA |
C59182691 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate deposits |
0.106 |
0.437 |
|
Loans and advances from directors |
18.257 |
12.485 |
|
Loans and advances from others |
3.810 |
14.233 |
|
Other loans and advances, others |
8.133 |
8.910 |
|
|
|
|
|
Total |
30.306 |
36.065 |
PERFORMANCE
During the year, the income from operations of the company has increased to Rs. 2057.800 Million as compared to Rs. 1818.000 Million in the previous year, registering a growth of 13% over the previous year. The production at the company’s new EOU has stabilized. The production at the Jalgaon unit and the Malkapur unit was satisfactory during the year. The company has tied up with various overseas customers and new markets for the export of its products. The company has also been in continuous research for the development of new products. The company is also in the process of establishing a new unit at Dahej SEZ in the state of Gujarat. All these efforts are expected to give further growth in the coming years. The Profit after tax for the year was at Rs. 234.400 Million as compared to Rs. 181.000 Million in the previous year.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Bank Guarantee |
5.660 |
5.660 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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. 66.79 |
|
|
1 |
Rs. 101.10 |
|
Euro |
1 |
Rs. 73.10 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
52 |
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.