MIRA INFORM REPORT

 

 

Report No. :

355600

Report Date :

21.12.2015

 

IDENTIFICATION DETAILS

 

Name :

UNITOP CHEMICALS PRIVATE LIMITED

 

 

Registered Office :

Plot No A-18, Patal Ganga, District – Raigad, Raigad – 410220, Maharashtra

Tel. No.:

91-2192-250083 / 22-28529800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.08.1980

 

 

Com. Reg. No.:

11-022967

 

 

Capital Investment / Paid-up Capital :

Rs.3.467 Million

 

 

CIN No.:

[Company Identification No.]

U24110MH1980PTC022967

 

 

IEC No.:

Not Applicable

(As claimed by company management that company does not export and import)

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMU04172A

 

 

PAN No.:

[Permanent Account No.]

AAACU1406F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

 

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (54)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 2200000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in the year 1980 and it is engaged manufacturing surfactants and emulsifiers. Its products include agrochemicals, hand gels, oil emulsion, degreasers, viscosity modifiers, adhesives, toiletries, aerosols, detergents, anti-stats, fiber lubricants, anti-foams, textile scouring, car care and emulsion polymerization chemicals. It serves to agro-chemical formulations, oil exploration, refining, textile, pharmaceuticals, rubber and plastic industries.

 

For the financial year ended 2014, company has reported 5.67% revenue growth as compared to previous year revenue and it has maintain decent profitability margins at 9.17% during the year under review.

 

Rating takes into consideration company’s established track record of business operations supported by its satisfactory financial base along with adequate net worth profile, favorable gap between trade payables to its receivables and healthy debt coverage indicators.

 

However, rating strength is partially offset by working capital intense nature of business operations and susceptibility to fluctuation in raw material prices movement imparting volatility to profitability.

 

Trade relations are reported as fair. Payments are reported to be regular and as per commitment.

 

The company can be considered good for normal business dealings at usual trade terms and conditions.

 

Note: Management of the company has not filed its financial with government department for the year 2015 and same are not available from any sources. 

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 DECLINED

 

Management Non-Cooperative (Tel No.: 91-2192-250083 / 22-28529800)

 

 

LOCATIONS

 

Registered Office / Factory 1 :

Plot No A-18, Patal Ganga, District – Raigad, Raigad – 410220, Maharashtra, India

Tel. No.:

91-2192-250083 / 22-28529800

Fax No.:

Not Available

E-Mail :

cabbshetty56@gmail.com

 

 

Factory 2:

Plot No. D-2/CH-343, GIDC Phase – II, New Village Jolwa, Bharuch Dahej Highway, Dahej, Dist. Bharuch – 392130, Gujarat, India

 

 

 

East West Estate, Safed Pool, Andheri-Kurla Road, Mumbai – 400072, Maharashtra, India

Tel No.:

91-22-28529800

Fax No.:

91-22-28513247

Email :

Sales1@unitgroup.com

export@unitgroup.com

Website :

www.unitgroupchemicals.com

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Jeenanath Dharmaraj Shetty

Designation :

Director

Address :

B-1101, Eternia, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

02.10.1976

Date of Appointment :

04.10.1999

DIN No.:

00185372

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U70102KA1995PTC019483

UNITOP ESTATES PRIVATE LIMITED

Managing director

05/05/2015

27/12/1995

-

Active

NO

2

U24110MH1980PTC022967

UNITOP CHEMICALS PRIVATE LIMITED

Director

04/10/1999

04/10/1999

-

Active

NO

3

U29297KA2000PTC027720

BRAHMA SHAKTHI HERBAL PRODUCTS PRIVATE LIMITED

Director

04/09/2000

04/09/2000

-

Strike off

NO

4

U74999MH1994GAP081104

BOMBAY INDUSTRIES ASSOCIATION

Director

27/09/2013

27/09/2011

-

Active

NO

 

 

Name :

Mr. Balakrishna Rajiv Shetty

Designation :

Whole-Time Director

Address :

Flat-603, Legacy, Off Vikhroli Jogeswari Link Road, Powai Vihar, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

31.03.1957

Date of Appointment :

01.04.2003

DIN No.:

00185693

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U28129MH1985PTC038090

SPECIALITY PACKAGING PVT LTD

Director

01/12/1986

01/12/1986

-

Active

NO

2

U24110MH1982PTC027748

BARKUR SURFACTANTS PRIVATE LIMITED

Director

31/12/1987

31/12/1987

-

Active

NO

3

U24110MH1982PTC027723

TECHNO PRODUCTS BOMBAY PVT LTD

Director

30/03/1990

30/03/1990

-

Active

NO

4

U24110MH1980PTC022967

UNITOP CHEMICALS PRIVATE LIMITED

Whole-time director

01/04/2003

01/04/2003

-

Active

NO

5

U70102KA1995PTC019483

UNITOP ESTATES PRIVATE LIMITED

Director

05/05/2015

15/05/2014

31/05/2015

Active

NO

 

 

Name :

Mr. Saibala Dharmaraj Shetty

Designation :

Director

Address :

B-1101, Eternia, Hirnandani Gardens, Powai, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

26.12.1956

Date of Appointment :

05.09.1984

DIN No.:

00220979

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24110MH1982PTC027723

TECHNO PRODUCTS BOMBAY PVT LTD

Director

06/07/1982

06/07/1982

-

Active

NO

2

U24110MH1982PTC027748

BARKUR SURFACTANTS PRIVATE LIMITED

Director

08/07/1982

08/07/1982

-

Active

NO

3

U24110MH1980PTC022967

UNITOP CHEMICALS PRIVATE LIMITED

Director

05/09/1984

05/09/1984

-

Active

NO

4

U67120MH1989PTC053667

BARKUR TRADING AND FINANCE PVT LTD

Director

28/09/1989

28/09/1989

-

Active

NO

5

U70102KA1995PTC019483

UNITOP ESTATES PRIVATE LIMITED

Director

27/12/1995

27/12/1995

-

Active

NO

6

U29297KA2000PTC027720

BRAHMA SHAKTHI HERBAL PRODUCTS PRIVATE LIMITED

Director

04/09/2000

04/09/2000

-

Strike off

NO

 

 

Name :

Mr. Dharmaraj Subbanna Shetty

Designation :

Managing Director

Address :

B-1101, Eternia, Hirnandani Gardens, Powai, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

19.01.1947

Date of Appointment :

12.03.1984

DIN No.:

00221055

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24110MH1982PTC027723

TECHNO PRODUCTS BOMBAY PVT LTD

Managing director

06/07/1982

06/07/1982

-

Active

NO

2

U24110MH1982PTC027748

BARKUR SURFACTANTS PRIVATE LIMITED

Managing director

08/07/1982

08/07/1982

-

Active

NO

3

U24110MH1980PTC022967

UNITOP CHEMICALS PRIVATE LIMITED

Managing director

12/03/1984

12/03/1984

-

Active

NO

4

U67120MH1989PTC053667

BARKUR TRADING AND FINANCE PVT LTD

Director

28/09/1989

28/09/1989

-

Active

NO

5

U70102KA1995PTC019483

UNITOP ESTATES PRIVATE LIMITED

Director

27/12/1995

27/12/1995

-

Active

NO

6

U29297KA2000PTC027720

BRAHMA SHAKTHI HERBAL PRODUCTS PRIVATE LIMITED

Director

04/09/2000

04/09/2000

08/02/2014

Strike off

NO

7

U15549MH2006PTC159289

Diakem Foods Private Limited

Director

27/01/2006

27/01/2006

20/04/2012

Active

NO

8

U91110MH2006NPL160336

INDIAN BUNTS CHAMBER OF COMMERCE AND INDUSTRY

Director

07/03/2006

07/03/2006

30/06/2013

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Dharmaraj Subbanna Shetty

 

3452

Saibala Dharmaraj Shetty

 

3400

Jeenanath Dharmaraj Shetty

 

6085

Rajeshwari Dharmaraj Shetty

 

6080

B.D. Shetty HUF

 

3450

Techno Products (B) Private Limited, India

 

6000

Barkur Trading and Finance Private Limited, India

 

5750

Barkur Surfactants Private Limited, India

 

450

Total

 

34667

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Bodies corporate

35.19

Directors or relatives of Directors

64.81

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

 

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

 

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

 

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Citi Bank N.A.

Branch

First International Financial Centre, 9th Floor, Plot No. C-54, C-55, G-Block, BKC, Bandra, Mumbai – 400051, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Short-term borrowings

 

 

Packing Credit [(Preshipment Finance) from Citi Bank (Secured against hypothecation of Stocks and Book Debts)]

42.526

0.000

Total

42.526

0.000

 

Auditors :

 

Name :

B.B. Shetty and Company

Chartered Accountants

Address :

F 16, Suryodaya Building, Sion Naka Sion, Mumbai – 400022, Maharashtra, India

Tel. No.:

91-22-24017621

Mobile No.:

91-9867788878

PAN N Income-tax PAN of auditor or auditor's firm :

AAHPS3054M

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary Company :
  • Barkur Surfactants Private Limited

CIN No.: U24110MH1982PTC027748

 

  • Unitop Estates Private Limited

CIN No.: U70102KA1995PTC019483

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.100/- each

Rs.5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

34667

Equity Shares

Rs.100/- each

Rs.3.467 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

3.467

3.467

3.467

(b) Reserves & Surplus

755.973

690.324

610.084

(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)

759.440

693.791

613.551

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

4.295

4.009

3.151

(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)

4.295

4.009

3.151

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

42.526

0.000

0.000

(b) Trade payables

70.530

43.119

36.174

(c) Other current liabilities

4.289

3.042

1.114

(d) Short-term provisions

0.347

3.658

6.868

Total Current Liabilities (4)

117.692

49.819

44.156

 

 

 

 

TOTAL

881.427

747.619

660.858

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

61.215

62.185

64.912

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

418.907

176.107

14.265

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

45.180

276.273

350.010

(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

39.252

27.248

27.932

Total Non-Current Assets

564.554

541.813

457.119

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

50.252

33.938

29.532

(c) Trade receivables

80.801

58.720

59.617

(d) Cash and cash equivalents

94.832

37.102

60.281

(e) Short-term loans and advances

90.988

76.046

54.309

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

316.873

205.806

203.739

 

 

 

 

TOTAL

881.427

747.619

660.858

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Revenue from Operations

702.676

656.823

671.158

 

Other Income

18.382

25.498

14.937

 

TOTAL

721.058

682.321

686.095

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

566.354

513.928

537.587

 

Variation In Stock

(5.049)

(0.285)

(8.267)

 

Employees Cost

28.195

21.502

18.414

 

Other expenses

34.075

29.753

28.087

 

TOTAL

623.575

564.898

575.821

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

97.483

117.423

110.274

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

3.414

3.934

4.009

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

94.069

113.489

106.265

 

 

 

 

 

Less

TAX

27.910

32.726

31.779

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

66.159

80.763

74.486

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

562.465

482.225

409.171

 

 

 

 

 

Add/Less

Earlier year excess proposed dividend and dividend distribution tax (L)

(0.094)

(0.118)

(1.029)

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Proposed Dividend

0.417

0.405

0.403

 

Total (M)

0.417

0.405

0.403

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

628.113

562.465

482.225

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

210.412

-231.799

223.563

 

TOTAL EARNINGS

210.412

-231.799

223.563

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

24.864

14.492

3.187

 

TOTAL IMPORTS

24.864

14.492

3.187

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1908.41

2329.67

2148.61

 

 

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 operating activity

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

9.42

12.30

11.10

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

22.54

38.44

35.83

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.16

0.17

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.06

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.69

4.13

4.61

 

 

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

3.467

3.467

3.467

Reserves & Surplus

610.084

690.324

755.973

Net worth

613.551

693.791

759.440

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

42.526

Total borrowings

0.000

0.000

42.526

Debt/Equity ratio

0.000

0.000

0.056

 

 

 

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

671.158

656.823

702.676

 

 

-2.136

6.981

 

 

 

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

671.158

656.823

702.676

Profit

74.486

80.763

66.159

 

11.10%

12.30%

9.42%

 

 

 

 

 

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

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

OPERATIONS:

 

The Company’s aggregate Sales during the Rs.758.175 Million as against Rs. 708.947 Million of 2012.2013. Business during the current year is expected to be satisfactory.

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10461059

27/05/2015 *

170,000,000.00

Citi Bank N.A.

First International Financial Centre (FIFC), Plot 
No. C-54 & 55, BKC, Bandra (E), Mumbai, Maharashtra - 400051, INDIA

C56757271

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

Bank Guarantee

7.261

5.131

Managerial Remuneration

5.201

4.443

 

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.66.42

UK Pound

1

Rs.99.17

Euro

1

Rs.72.13

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SUJ

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

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

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

 

54

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.