MIRA INFORM REPORT
|
Report No. : |
354041 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
VISHAKHA POLYFAB PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 549/2, Village Vadsar, P.O. Khatraj, Taluka Kalol,
District Gandhinagar - 380009, Gujarat |
|
Tel. No.: |
91-2764-281047 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.12.1993 |
|
|
|
|
Com. Reg. No.: |
04-020968 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 65.863 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ1993PTC020968 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMV00284E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV6439R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of multi-layer co-excluded
plastic film and pouch (Plain and Printed). (Registered Activity and also Confirmed by
management) |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1993 and it is engaged in the manufacturer, exporter and importer of high barrier multilayer flexible film. For the financial year ended 2014, company has achieved 48.35% growth in its revenue profile but failed to maintained profit margins and reported low margin at 0.3% during the year under a review. Rating takes into consideration company’s established track record of business operations supported by its satisfactory financial base along with favorable gap between trade payables to its receivables and sound debt coverage indicators. Trade relations are reported as fair. Payment terms are reported to be usually correct. The company can be considered for business dealing at usual trade
terms and condition. |
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 |
CARE |
|
Rating |
Long Term Bank Facilities = BBB- [Suspended] |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
March 13, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 [Suspended] |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
March 13, 2014 |
Reason of Suspension: Not furnished the
information required by CARE.
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. Chandresh Shah |
|
Designation : |
Deputy General Finance Manager |
|
Contact No.: |
91-9909930960 |
|
Date : |
10.12.2015 |
LOCATIONS
|
Registered Office/
Factory, Admin and International Business division : |
Plot No. 549/2, Village Vadsar, P.O. Khatraj, Taluka Kalol,
District Gandhinagar - 380009, Gujarat, India |
|
Tel. No.: |
91-2764-281048/ 581/ 582 |
|
Mobile No.: |
91-9909930960 (Mr. Chandresh Shah) |
|
Fax No.: |
91-2764-281795 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
"Vishakha House",
Ashirwad Paras Corporate House, Corporate
Road, Prahladnagar, Ahmedabad - 380015, Gujarat. India |
|
Tel. No.: |
91-79-61907373 |
|
Fax No.: |
91-79-61907340 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Jigishkumar Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
6, Shrushti Bunglows, Ashwamegh, 4B Extn, 132 Ring Road, Satellite, Ahmedabad
- 380015, Gujarat, India |
|
Date of Birth/Age : |
17.01.1961 |
|
Date of Appointment : |
10.12.1999 |
|
PAN No.: |
AARPD3666Q |
|
DIN No.: |
00380192 |
|
|
|
|
Name : |
Mr. Bhardresh Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
26, Shrushti Bunglows, Ashwamegh, 4B Extn, 132 Ring Road, Satellite,
Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
08.02.1956 |
|
Date of Appointment : |
08.06.2000 |
|
PAN No.: |
AAJPD6032C |
|
DIN No.: |
00380239 |
|
|
|
|
Name : |
Mr. Kamal Daulal Moondra |
|
Designation : |
Director |
|
Address : |
22, Kaushalya Bunglows, Ramdevnagar, Ahmedabad, |
|
Date of Birth/Age : |
05.05.1958 |
|
Date of Appointment : |
06.10.2001 |
|
DIN No.: |
00019671 |
|
|
|
|
Name : |
Mr. Jayesh Hasmukhlal Shah |
|
Designation : |
Director |
|
Address : |
2, Adesh Flats, 14, Dharnidhar Society, Near Dharnidhar Derasar,
Vanna, Ahmedabad - 380007, Gujarat, India
|
|
Date of Birth/Age : |
04.10.1965 |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
03085675 |
KEY EXECUTIVES
|
Name : |
Mr. Chandresh Shah |
|
Designation : |
Deputy General Finance Manager |
|
|
|
|
Name : |
Jimmy K Dagli |
|
Designation : |
Secretary |
|
Address : |
H/71, New Prabhupark Soc., Satellite, Ahmedabad - 380015, Gujarat, India |
|
Date of Appointment : |
18.05.2015 |
|
PAN No.: |
AKLPD9919Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Jigish Doshi |
|
2010199 |
|
Bhadresh Doshi |
|
357125 |
|
Umesh Doshi |
|
277175 |
|
Jigish Nagindas Doshi (Nominee of Labdhi International) |
|
500 |
|
Adani Wilmar Limited, India |
|
2645000 |
|
Jigish Nagindas Doshi (Nominee of Vishakha Industries) |
|
1 |
|
Total |
|
5290000 |
AS ON 02.12.2013
|
Names of Allottees |
|
No. of Shares |
|
Adani Wilmar Limited, India |
|
648150 |
|
Jigish Doshi |
|
492594 |
|
Bhadresh Doshi |
|
37803 |
|
Umesh Doshi |
|
117753 |
|
Total |
|
1296300 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
50.00 |
|
Directors
or relatives of directors |
50.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of multi-layer co-excluded
plastic film and pouch (Plain and Printed). (Registered Activity and also Confirmed by
management) |
|
|
|
|
Products: |
High barrier multilayer flexible film |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· USA · UK · UAE · Australia · Russia · New Zealand · Dubai |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Singapore · Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30,60,90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Adani Wilmar Limited
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users and OEMS Hindustan Unilever Limited
|
||||||||||||||||||||||
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|
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|
No. of Employees : |
350 (Approximately) |
||||||||||||||||||||||
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||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303 / 304, Milestones Near Drive-In Cinema, Opposite T V
Tower, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFD1279G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
· Doshi Marketing · Vishakha Industries · Labdhi International Private Limited [U24130GJ2011PTC064073] · Vishakha Irrigation Private Limited [U29299GJ2008PTC053240] · Krishnapatnam Oils and Fats Private Limited [U74999GJ2008PTC066006] ·
Satya Sai Agroils Private Limited
[U15143MP1998PTC013182] |
|
|
|
|
Joint Venture : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,586,300 |
Equity Shares |
Rs. 10/- each |
Rs. 65.863 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 |
65.863 |
52.900 |
52.900 |
|
(b) Reserves & Surplus |
280.239 |
216.863 |
211.307 |
|
(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) |
346.102 |
269.763 |
264.207 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
160.487 |
207.792 |
260.637 |
|
(b) Deferred tax liabilities (Net) |
20.666 |
22.125 |
21.553 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.430 |
0.000 |
3.623 |
|
Total
Non-current Liabilities (3) |
181.583 |
229.917 |
285.813 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
482.480 |
402.821 |
278.748 |
|
(b)
Trade payables |
318.876 |
380.601 |
353.119 |
|
(c)
Other current liabilities |
70.868 |
85.155 |
75.683 |
|
(d)
Short-term provisions |
0.142 |
0.000 |
0.615 |
|
Total
Current Liabilities (4) |
872.366 |
868.577 |
708.165 |
|
|
|
|
|
|
TOTAL |
1400.051 |
1368.257 |
1258.185 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
412.060 |
454.607 |
413.589 |
|
(ii)
Intangible Assets |
0.960 |
0.111 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
85.785 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.824 |
|
(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 |
14.612 |
14.672 |
11.316 |
|
(e)
Other Non-current assets |
43.491 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
471.123 |
469.390 |
511.514 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
399.341 |
377.726 |
380.238 |
|
(c)
Trade receivables |
368.180 |
327.574 |
226.608 |
|
(d)
Cash and cash equivalents |
21.137 |
20.946 |
27.034 |
|
(e)
Short-term loans and advances |
134.544 |
128.983 |
86.318 |
|
(f)
Other current assets |
5.726 |
43.638 |
26.473 |
|
Total
Current Assets |
928.928 |
898.867 |
746.671 |
|
|
|
|
|
|
TOTAL |
1400.051 |
1368.257 |
1258.185 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
1989.475 |
1394.578 |
1099.828 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1844.172 |
1243.564 |
938.892 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
145.303 |
151.014 |
160.936 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.027 |
73.482 |
85.152 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
73.276 |
77.532 |
75.784 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
64.250 |
71.257 |
61.137 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.026 |
6.275 |
14.647 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.688 |
0.719 |
2.483 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.338 |
5.556 |
12.164 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
65.003 |
59.447 |
57.898 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
10.000 |
|
|
|
Dividend on Equity Shares |
0.000 |
0.000 |
0.529 |
|
|
|
Corporate Tax on Dividend |
0.000 |
0.000 |
0.086 |
|
|
BALANCE CARRIED
TO THE B/S |
71.341 |
65.003 |
59.447 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
371.208 |
266.004 |
246.628 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2500.000 |
|
|
|
|
|
The above information has been parted by Mr. Chandresh Shah [Deputy
General Finance Manager].
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
33.467 |
52.851 |
51.667 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(8.383) |
20.305 |
119.650 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.64 |
0.46 |
1.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.02 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.95 |
2.46 |
2.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.03 |
1.05 |
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 |
52.900 |
52.900 |
65.863 |
|
Reserves & Surplus |
211.307 |
216.863 |
280.239 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
264.207 |
269.763 |
346.102 |
|
|
|
|
|
|
long-term borrowings |
260.637 |
207.792 |
160.487 |
|
Short term borrowings |
278.748 |
402.821 |
482.480 |
|
Current maturities of
long-term debts |
51.667 |
52.851 |
33.467 |
|
Total
borrowings |
591.052 |
663.464 |
676.434 |
|
Debt/Equity
ratio |
2.237 |
2.459 |
1.954 |
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) |
|
Total Income |
1099.828 |
1394.578 |
1989.475 |
|
|
|
26.800 |
42.658 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
1099.828 |
1394.578 |
1989.475 |
|
Profit |
12.164 |
5.556 |
6.338 |
|
|
1.11% |
0.40% |
0.32% |
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) |
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 four 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 |
COMPANY INFORMATION
Subject is a joint venture between Doshi Family and Adani Wilmar Limited. VPPL is a Flagship Company, manufacturing of 3 layer, 5 layer, 7 Layer and 9 layer film Rolls and pouches (Printed and Plain). VPPL has the only 9 layer plant in India and largest manufacturer of multilayer film rolls along with printing facilities upto 9 colors.
The Company has production infrastructure at Vadsar,
District Gandhinagar. VPPL's products reach across the India and also export to
Europe and United State of America.
OPERATIONS
During the year, the Company has sustained its overall performance in terms of consistent growth in turnover and market share. The growth in business operations of the Company fortifies the confidence shown in the Company by its existing customers as well as new customers due to the continued assurance of satisfactory services. The company has achieved production of 11990 MT during the year, as compared at 9780 MT of last year.
The revenue of the Company was increased by 42.66% to Rs. 1989.475 Million during the year as compared to Rs. 1394.578 Million in last year. The Company posted the Profit before Tax of Rs. 9.026 Million as compared to 6.275 Million of last year, an increase of 43.84 %. The Profit after Tax marginally increased from Rs. 5.556 Million of last year to Rs. 6.338 Million for the year.
The exports of the Company was Rs. 371.208 Millions, which increased by 39.55% over last year.
FINANCE
The Company has repaid the installments of term loans amounting to Rs. 10.865 Million during the year. The Company has also made fresh borrowing of Rs. 11.982 Million for funding the capital expenditure and other requirements. The long term debt of the Company stands to Rs. 16.343 Million as on 31st March, 2014.
As per the provisions of new Companies Act, 2013, the
Company has obtained approval of the Members of the Company for borrowing
powers under Section 180(1)(c) and for creation of charge on the assets on
Company under Section 180(1)(a) of the Act, to the extent of Rs. 1500.000
Million at the Extra-Ordinary General Meeting held on 2nd December, 2013.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
112.848 |
142.757 |
|
Other loans and advances |
27.464 |
48.758 |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances |
50.000 |
50.000 |
|
Total |
190.312 |
241.515 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10076837 |
08/11/2014 * |
985,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
PARAMSIDDHI COMPLEX, OPP. V.S. |
C33769472 |
* Date of charge modification
FIXED ASSETS:
· Land
·
Buildings
·
Factory
building
·
Plant
and equipment
·
Factory
equipments
·
Furniture
and fixtures
·
Vehicles
·
Motor
vehicles
·
Computer
equipments
·
Other
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 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
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.