MIRA INFORM REPORT
|
Report No. : |
356678 |
|
Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ELKAY CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Vinay Kunj 4, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra |
|
Tel. No.: |
91-20-30615300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
02.06.1986 |
|
|
|
|
Com. Reg. No.: |
11-039957 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.23.633 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1986PTC039957 |
|
|
|
|
IEC No.: |
0389040177 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEE01430C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE5989K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, exporter and importer of silicone products. [Confirmed by management] |
|
|
|
|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 |
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|
|
|
Comments : |
Subject is an established company incorporated in the year 1986. It is
engaged in manufacturing, exporting and importing of silicone products. The company has registered healthy scale of operations marked by
decent top line growth along with profitability margin of 2.3% in the FY-15. Rating reflects the extensive experience of promoters along with
established relations with suppliers and customers. It has sound financial
base and low debt levels. Trade relations are fair. Business is active. Payments are usually
correct. 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 rating= BB- |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
13.08.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating= A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
13.08.2015 |
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. Jaideep Sharma |
|
Designation : |
Accounts / Finance Manager |
|
Contact No.: |
91-9822624724 |
|
Date : |
23.12.2015 |
LOCATIONS
|
Registered Office : |
Vinay Kunj 4, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
J-152 and 153, M.I.D.C., Bhosari, Pune – 411028, Maharashtra,
India |
|
Tel. No.: |
91-20-30615300 |
|
Fax No.: |
91-20-30635300 / 30635311 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Bremen Business Centre, Level 5, Office No: 503, 504, Above Bank of
India, CTS No: 2562, Aundh, Pune - 411007, Maharashtra, India |
|
Tel. No.: |
91-20-65221202 / 65221203 / 65221204 |
|
E-Mail : |
pramod.barange@elkaysilicones.com
|
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Avinash Dattatraya Kulkarni |
|
Designation : |
Director |
|
Address : |
55/22, Ashok Path, Prasanna Apartments, Erandavana, Pune - 411004,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1986 |
|
Date of Appointment : |
10.08.1986 |
|
DIN No.: |
00016046 |
|
|
|
|
Name : |
Mr. Annarao Krishnarao Lokapur |
|
Designation : |
Director |
|
Address : |
Krishnatara, 3 Sindh Society, Baner Road, Aundh, Pune - 411007,
Maharashtra, India |
|
Date of Birth/Age : |
30.10.1960 |
|
Date of Appointment : |
02.06.1986 |
|
DIN No.: |
00016146 |
|
|
|
|
Name : |
Mr. Ravindra Dattatraya Kulkarni |
|
Designation : |
Director |
|
Address : |
35, Rohan Madhuban, Bavdhan KH, Near Ambrosia, Pune - 411021, Maharashtra, India |
|
Date of Birth/Age : |
12.03.1948 |
|
Date of Appointment : |
10.08.1986 |
|
DIN No.: |
00016217 |
KEY EXECUTIVES
|
Name : |
Mr. Jaideep Sharma |
|
Designation : |
Accounts / Finance Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Annarao Krishnarao Lokapur |
|
670006 |
|
Tara Lokpur J/W Annarao Krishnarao Lokapur |
|
145604 |
|
Madhuri Lokapur J/W Annarao Krishnarao Lokapur |
|
25000 |
|
Ravindra Dattatraya Kulkarni J/W Alka Kulkarni |
|
491721 |
|
Alka Kulkarni J/W Ravindra Dattatraya Kulkarni |
|
269388 |
|
Arun Kulkarni J/W Meena Kulkarni |
|
1000 |
|
Ravindra Dattatraya Kulkarni HUF J/W Alka Kulkarni |
|
18800 |
|
Brijmohan Mundgil |
|
16000 |
|
Rahul Kulkarni J/W Alka Kulkarni |
|
56627 |
|
Priya Kulkarni J/W Alka Kulkarni |
|
56627 |
|
Annarao Krishnarao Lokapur HUF J/W Madhuri Lokapur |
|
74500 |
|
Avinash Kulkarni J/W/ Veena Kulkarni |
|
11500 |
|
Steve Dumont |
|
319730 |
|
Rajana Bhasin J/W Anand Asin |
|
12800 |
|
Suparna Bhasin J/W Bhasan Anand |
|
12800 |
|
Sanddep Bhasin J/W Bhasin Anand |
|
12800 |
|
Veena J/W Avinash J/W Shweta Kulkarni |
|
11500 |
|
Bhasan Anand J/W Bhasin Ranjana |
|
60669 |
|
Surjeet Bhalla J/W Bhasin Anand |
|
12800 |
|
Veena Bhalla J/W Bhasin Ranjana |
|
12800 |
|
Bhasin Anand Sandeep |
|
70669 |
|
|
|
|
|
Total |
|
2363341 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.05.2014
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others] |
22.00 |
|
Directors or relatives of Directors |
78.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter and importer of silicone products. [Confirmed by management] |
|
|
|
|
Products : |
Silicone Products |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
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Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
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|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Cheque |
|
|
|
|
Purchasing : |
L/C, Cash, Cheque |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers, Manufacturers
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No. of Employees : |
65 (Approximately) |
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Bankers : |
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Facilities : |
Notes: Long Term Borrowings
iv) The loans are secured by hypothecation of vehicle. v) The Term Loan was secured by all the assets acquired
out of bank finances and equitable mortgage of factory land and building
situated at J-152 and J-153 MIDC, Bhosari Additional security was given by
way of pledge of entire machinery and personal guarantee of all directors
(o/s amount :- Nil Million previous year :-Rs.1.791 Million) |
|
Auditors : |
|
|
Name : |
Joshi Apte and Company Chartered Accountants |
|
Address : |
"Dwarka" First Floor, 2 Phatak Baug Society, 999, Navi Peth,
Pune – 411030, Maharashtra, India |
|
Tel. No.: |
91-20-24533188 |
|
Fax No.: |
91-20-24532991 |
|
E-Mail : |
|
|
PAN No.: |
AAAFI9696H |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
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Collaborators : |
Not Divulged |
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|
|
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Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2363341 |
Equity Shares |
Rs.10/- each |
Rs.23.633 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
23.633 |
23.633 |
23.633 |
|
(b) Reserves & Surplus |
93.049 |
90.642 |
93.640 |
|
(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) |
116.682 |
114.275 |
117.273 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.592 |
1.775 |
3.864 |
|
(b) Deferred tax liabilities (Net) |
2.734 |
3.582 |
1.898 |
|
(c) Other long term
liabilities |
0.260 |
0.388 |
0.702 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3.586 |
5.745 |
6.464 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
67.293 |
80.265 |
93.578 |
|
(b) Trade
payables |
74.389 |
58.371 |
41.541 |
|
(c) Other
current liabilities |
8.691 |
8.923 |
9.169 |
|
(d) Short-term
provisions |
3.373 |
3.162 |
0.266 |
|
Total Current
Liabilities (4) |
153.746 |
150.721 |
144.554 |
|
|
|
|
|
|
TOTAL |
274.014 |
270.741 |
268.291 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
57.476 |
63.790 |
40.150 |
|
(ii)
Intangible Assets |
0.948 |
1.125 |
10.056 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
22.170 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
66.108 |
65.343 |
63.509 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.004 |
7.274 |
6.511 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
131.536 |
137.532 |
142.396 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
73.255 |
66.970 |
51.614 |
|
(c) Trade
receivables |
47.584 |
43.208 |
47.820 |
|
(d) Cash
and cash equivalents |
2.942 |
4.249 |
5.743 |
|
(e)
Short-term loans and advances |
11.929 |
16.750 |
18.686 |
|
(f) Other
current assets |
6.768 |
2.032 |
2.032 |
|
Total
Current Assets |
142.478 |
133.209 |
125.895 |
|
|
|
|
|
|
TOTAL |
274.014 |
270.741 |
268.291 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
365.295 |
326.076 |
|
|
|
|
|
Other Income |
13.458 |
10.032 |
|
|
|
|
|
TOTAL (A) |
378.753 |
336.108 |
347.766 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
257.417 |
219.910 |
|
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
0.755 |
(9.304) |
|
|
|
|
|
Employee Benefits Expenses |
30.598 |
26.813 |
|
|
|
|
|
Other Expenses |
61.410 |
71.744 |
|
|
|
|
|
TOTAL (B) |
350.180 |
309.163 |
347.155 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.573 |
26.945 |
[Including
financial & Depreciation expenses] |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
12.990 |
12.030 |
|
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
15.583 |
14.915 |
|
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
6.074 |
3.464 |
|
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
9.509 |
11.451 |
0.611 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
0.204 |
1.684 |
(1.207) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
9.305 |
9.767 |
1.818 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
146.102 |
142.189 |
118.403 |
|
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
171.172 |
162.101 |
142.775 |
|
|
|
|
Capital Goods |
0.330 |
0.000 |
0.000 |
|
|
|
TOTAL
|
171.502 |
162.101 |
142.775 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
3.94 |
4.13 |
0.78 |
||
Expected Sales (2015-2016): Rs.410.000 million
The above information has been parted by Mr. Jaideep
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
27.740 |
26.254 |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin PAT / Sales |
(%) |
2.55 |
3.00 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.82 |
8.26 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
4.57 |
5.58 |
0.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.10 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.58 |
0.72 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
0.88 |
0.87 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
23.633 |
23.633 |
23.633 |
|
Reserves & Surplus |
93.640 |
90.642 |
93.049 |
|
Net
worth |
117.273 |
114.275 |
116.682 |
|
|
|
|
|
|
long-term borrowings |
3.864 |
1.775 |
0.592 |
|
Short term borrowings |
93.578 |
80.265 |
67.293 |
|
Total
borrowings |
97.442 |
82.040 |
67.885 |
|
Debt/Equity
ratio |
0.831 |
0.718 |
0.582 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
347.766 |
336.108 |
378.753 |
|
|
|
(3.352) |
12.688 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
347.766 |
336.108 |
378.753 |
|
Profit |
1.818 |
9.767 |
9.305 |
|
|
0.52% |
2.91% |
2.46% |
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 |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
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 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10342354 |
24/02/2012 |
450,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, NEAR KALASAGAR HOTEL, |
B35079276 |
|
2 |
90240891 |
16/12/2004 * |
4,500,000.00 |
SBI BANK |
INDL FINANCE BR PIMPRI, PUNE, MAHARASHTRA - 411034, INDIA |
- |
|
3 |
90165459 |
28/06/2002 |
4,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, PIMPRI, PUNE, MAHARASH |
- |
|
4 |
90165358 |
07/02/2000 |
15,000,000.00 |
SERVICE LIMITED |
TARA CHAMBERS, WAKAWADI, PUNE, MAHARASHTRA, INDIA |
- |
|
5 |
90165342 |
24/08/1999 * |
3,100,000.00 |
SATATE BANK OF INDIA |
PIMPRI BRANCH, PUNE, MAHARASHTRA, INDIA |
- |
|
6 |
90233889 |
14/06/2012 * |
120,300,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,NEAR KALASAGAR HOTEL, KASARWADI,PIMPRI, PUNE, MAHARASHTRA - 411034, INDIA |
B44668309 |
|
7 |
90164982 |
10/11/2004 * |
3,400,000.00 |
STATE BANK OF INDIA |
PIMPRI BRANCH, PUNE, MAHARASHTRA, INDIA |
- |
|
8 |
90164943 |
04/01/1992 |
1,475,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, PIMPRI, PUNE, MAHARASH |
- |
|
9 |
90164897 |
01/12/1990 |
250,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PIMPRI, PUNE, MAHARASHTRA - 411034, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
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 |
|
43 |
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.