MIRA INFORM REPORT
|
Report No. : |
356165 |
|
Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
INFINIUM PHARMACHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
38, GIDC Sojitra, Taluka Sojitra, Anand-387240, Gujarat |
|
Tel. No.: |
91-2697-234987 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
21.11.2003 |
|
|
|
|
Com. Reg. No.: |
04-043218 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.345 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ2003PTC043218 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDI00596B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI1843B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Product. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 61500 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was established in the year 2003 and it is a manufacturer and
supplier of around 60 lodine derivatives and its allied products. For the financial year ended 2015, revenue of the company has been declined
by 31.22% over previous year revenue and it has also reported low margin at
0.21% during the year under review. Rating remains constrained on account of company’s weak financial risk
profile marked by its modest scale along with working-capital-intensive
operations and moderate debt coverage indicators. However, rating weakness is partially mitigated by its promoters’
extensive experience in the pharmaceutical industry and established track
record of company’s operations. Trade relations are reported as fair. Payment terms are slow but
correct. In view of aforesaid, the company can be considered for business
dealing with some caution. |
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 |
CRISIL |
|
Rating |
Long Term Rating=B+ |
|
Rating Explanation |
Risk-prone-credit-quality and carries very
high credit risk |
|
Date |
23.09.2015 |
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.
LOCATIONS
|
Registered Office : |
38, GIDC Sojitra, Taluka Sojitra, Anand-387240, Gujarat, India |
|
Tel. No.: |
91-2697-234987 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Suite # 205, "SIGMA PRIME", Second Floor, Near Sardar Patel Statute, V.U. Nagar GIDC Road, Vallabh Vidyanagar - 388121, Gujarat, India |
|
Tel. No.: |
91-2692-238849/ 238850 |
|
Fax No.: |
91-2697-234987 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. 38-39 GIDC Sojitra, Anand, Gujarat, India |
|
Tel/Fax No : |
91-2697-234987 |
DIRECTORS
AS ON 14.08.2014
|
Name : |
Mr. Sanjaykumar Viththalbhai Patel |
|
Designation : |
Director |
|
Address : |
Nihar Park No 9, Karamsad Tal: Anand, Anand-388325,
Gujarat, India |
|
Date of Birth/Age : |
26.11.1979 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00370715 |
|
|
|
|
Name : |
Mr. Mitesh Lavjibhai Chikhaliya |
|
Designation : |
Director |
|
Address : |
B/18, Trikam Nagar 2 Near Radha Krishna Mandir, Lambe
Hanuman Road, Surat-395010, Gujarat, India |
|
Date of Birth/Age : |
01.04.1985 |
|
Date of Appointment : |
27.11.2010 |
|
DIN No.: |
03342934 |
|
|
|
|
Name : |
Mr. Pravin B Madhani |
|
Designation : |
Additional Director |
|
Address : |
B-503, Green Avenue, Karamsad Vvnagar Rd, Karamsad,
Anand-388001, Gujarat, India |
|
Date of Birth/Age : |
14.07.1975 |
|
Date of Appointment : |
01.12.2013 |
|
DIN No.: |
00370791 |
|
|
|
|
Name : |
Mr. Devanand Chimanlal Parekh |
|
Designation : |
Director |
|
Address : |
A-3/204, Maple Oasis B/H Puja Bunglow, V V Nagar Karamsad
Road, Anand- 388325, Gujarat, India |
|
Date of Appointment : |
10.08.2015 |
|
DIN No.: |
03613358 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Pravin Bhadabhia Madhani |
|
85092 |
|
Sanjay Viththalbhai Patel |
|
79900 |
|
Bhadabhai Kachrabhai Madhani |
|
53525 |
|
Chandrikaben Ramankant Madhani |
|
1890 |
|
Daksha Sanjaybhai Chikhaliya |
|
28650 |
|
Jayaben Bhadabhai Madhani |
|
1850 |
|
Maghuben Ramjibhai Chikhaliya |
|
1800 |
|
Manjulaben Viththalbhai Chikhaliya |
|
11366 |
|
Mitesh Lavjibhai Chikhaliya |
|
29796 |
|
Piyush Viththalbhai Chikhaliya |
|
6294 |
|
Pratiksha Lavjibhai Chikhaliya |
|
1850 |
|
Ramakant Bhadabhia Madhani |
|
890 |
|
Ramjibhai Jerambhai Chikhaliya |
|
1400 |
|
Varsha Viththalbhai Chikhaliya |
|
1860 |
|
Viththalbhai Ramjibhai Chikhaliya |
|
23361 |
|
Varshaben Pravinbhai Madhani |
|
52662 |
|
Lavjibhai Ramjibhai Chikhaliya |
|
24081 |
|
Krupa Miteshbhai Chikhaliya |
|
1850 |
|
Urvishaben Piyushbhai Chikhaliya |
|
6364 |
|
Shardaben Lavajibhai Chikhaliya |
|
11136 |
|
Mignesh Lavjibhai Chikhaliya |
|
8888 |
|
Total |
|
434505 |
AS ON 14.08.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Product, etc. (Registered Activity) |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Ashok Rajpara and Associates Chartered Accountants |
|
Address : |
212, Sahajanand Complex, B/H: Bhagavati Chamber, C.G. Road,
Ahmedabad-380009, Gujarat, India |
|
Mobile No.: |
91-9824745000/ 9428548612 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKPP0921P |
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|
|
|
Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
434,505 |
Equity Shares |
Rs. 10/- each |
Rs. 4.345
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 |
4.345 |
4.345 |
2.300 |
|
(b) Reserves & Surplus |
17.204 |
17.009 |
8.201 |
|
(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) |
21.549 |
21.354 |
10.501 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
17.096 |
1.438 |
1.531 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.002 |
0.000 |
|
(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) |
17.096 |
1.440 |
1.531 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
21.607 |
28.878 |
32.543 |
|
(b)
Trade payables |
9.143 |
21.033 |
10.576 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
1.283 |
|
(d)
Short-term provisions |
1.447 |
3.097 |
2.189 |
|
Total
Current Liabilities (4) |
32.197 |
53.008 |
46.591 |
|
|
|
|
|
|
TOTAL |
70.842 |
75.802 |
58.623 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
9.368 |
9.320 |
8.489 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
17.078 |
0.000 |
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) |
0.264 |
0.000 |
0.027 |
|
(d) Long-term Loan
and Advances |
0.156 |
0.149 |
0.149 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
26.866 |
9.469 |
8.665 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
9.989 |
20.886 |
23.935 |
|
(c)
Trade receivables |
16.761 |
21.252 |
7.197 |
|
(d)
Cash and cash equivalents |
15.425 |
21.499 |
16.017 |
|
(e)
Short-term loans and advances |
1.801 |
2.696 |
2.809 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
43.976 |
66.333 |
49.958 |
|
|
|
|
|
|
TOTAL |
70.842 |
75.802 |
58.623 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
91.400 |
133.463 |
116.061 |
|
|
|
Other Income |
0.798 |
0.592 |
0.476 |
|
|
|
TOTAL (A) |
92.198 |
134.055 |
116.537 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
75.843 |
100.717 |
101.729 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(0.014) |
5.239 |
(5.922) |
|
|
|
Employees benefits expense |
4.810 |
4.816 |
3.625 |
|
|
|
Other expenses |
6.454 |
16.973 |
12.289 |
|
|
|
TOTAL (B) |
87.093 |
127.745 |
111.721 |
|
|
|
|
|
|
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|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.105 |
6.310 |
4.816 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.642 |
2.476 |
1.522 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.463 |
3.834 |
3.294 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.109 |
1.326 |
0.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.354 |
2.508 |
2.357 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.158 |
0.858 |
0.735 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.196 |
1.650 |
1.622 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.252 |
2.265 |
0.612 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
36.596 |
47.134 |
NA |
|
|
TOTAL IMPORTS |
36.596 |
47.134 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
0.45 |
3.80 |
-- |
|
|
|
Diluted |
0.45 |
3.80 |
-- |
|
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 |
NA |
NA |
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) |
(%) |
0.21 |
1.24 |
1.40 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.59 |
4.73 |
4.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.66 |
3.31 |
4.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.12 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.80 |
1.42 |
3.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.25 |
1.07 |
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 |
2.300 |
4.345 |
4.345 |
|
Reserves & Surplus |
8.201 |
17.009 |
17.204 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
10.501 |
21.354 |
21.549 |
|
|
|
|
|
|
Long-term borrowings |
1.531 |
1.438 |
17.096 |
|
Short term borrowings |
32.543 |
28.878 |
21.607 |
|
Total
borrowings |
34.074 |
30.316 |
38.703 |
|
Debt/Equity
ratio |
3.245 |
1.420 |
1.796 |
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 |
116.061 |
133.463 |
91.400 |
|
|
|
14.994 |
(31.517) |
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 |
116.061 |
133.463 |
91.400 |
|
Profit |
1.622 |
1.650 |
0.196 |
|
|
1.40% |
1.24% |
0.21% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10080836 |
30/12/2014 * |
62,500,000.00 |
BANK OF BARODA |
SME LOAN FACTORY,
2ND FLOOR, KISHOR PLAZA, STATIO |
C40453482 |
|
2 |
10080834 |
30/12/2014 * |
62,500,000.00 |
BANK OF BARODA |
SME LOAN FACTORY,
2ND FLOOR, KISHOR PLAZA, STATIO |
C40454100 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Directors |
1.950 |
0.000 |
|
From Shareholders |
1.200 |
0.000 |
|
|
|
|
|
Total |
3.150 |
0.000 |
OPERATIONS:
The company has achieved sales of Rs. 91.400 Million and earned net
Profit of Rs. 0.196 Million for the period as against sales of Rs. 133.463
Million and Net Profit of Rs. 1.650 Million of the previous year. The Company
is operating in Manufacturing Pharmaceutical Product etc.
During the year, the company has undergone for major renovation and
technological up gradation in the plant. The management has also started for
expansion of the plant with increased capacity and that too as per FDI norms.
Due to ongoing development activities the performance of the company slightly
affected, but the directors are confident to recover in the running year.
The management is taking steps toward better results and prospects. The
director is hopeful to achieve better result in coming years.
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 11, GIDC
Sojitra Taluka Sojitra, Anand-387240, Gujarat, India to the present address
w.e.f 01.07.2006
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 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
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.