MIRA INFORM REPORT

 

 

Report No. :

356299

Report Date :

30.12.2015

 

 IDENTIFICATION DETAILS

 

Name :

SOLTEX PETRO PRODUCTS LIMITED

 

 

Registered Office :

D-112, Crystal Plaza, Opposite Infinity Mall, New Link Road, Andheri (West), Mumbai - 400058, Maharashtra

Tel. No.:

91- 22-40631514/ 40631515

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

29.06.1992

 

 

Com. Reg. No.:

11-067460

 

 

Capital Investment / Paid-up Capital :

Rs. 28.028 Million

 

 

CIN No.:

[Company Identification No.]

U99999MH1992PLC067460

 

 

IEC No.:

0399069321

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS39090C

 

 

PAN No.:

[Permanent Account No.]

AAECS2424D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing and supplying of master-batches and polymer additives.

(Confirmed by management)

 

 

No. of Employees :

Not Divulged

 

 

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 1992 and it is engaged in manufacturing and exporting of master-batches and polymer additives.

 

For the financial year ended 2015, company possesses average operational performance and it has maintain average profitability margin at 2.26 % during year under a review.

 

Rating takes into consideration company’s established market position in the master-batches and polymer additives, its diversified and established customer base along with above average financial profile market by its sound net worth base and moderate debt coverage indicators.

 

However, rating strength is partially offset by working capital intensive nature of operations and fragmented and highly competitive nature of the industry. 

 

Trade relations are reported as fair. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings 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.

 

 

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 = BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk

Date

25.10.2015

 

 

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 DENIED BY

 

Name :

Miss Geeta Chadha

Designation :

Director

Contact No.:

91-22-40631515

Date :

24.12.2015

 

 

LOCATIONS

 

Registered Office :

D-112, Crystal Plaza, Opposite Infinity Mall, New Link Road, Andheri (West), Mumbai - 400058, Maharashtra, India

Tel. No.:

91- 22-40631514/ 40631515

Fax No.:

Not Available

E-Mail :

account@soltexpetro.com

accounts_1@soltexpetro.com

sales@soltexpetro.com 

Website :

http://www.soltexpetro.com

 

 

Head office :

D-406, Crystal Plaza, New Link Road, Andheri (West) Mumbai - 400053, Maharashtra, India

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mrs. Rita Naresh Chadha

Designation :

Director

Address :

B-21, Ganga Bhavan, J.P. Road, Versova, Mumbai - 400061, Maharashtra, India

Qualification :

B. Com

Date of Appointment :

28.03.1997

PAN No.:

AAAPC5717A

DIN No.:

00870847

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

U99999MH1987PTC043383

MEDASA INVESTMENTS PVT LTD

Director

04/04/1989

04/04/1989

-

Active

NO

2

U99999MH1992PLC067460

SOLTEX PETRO PRODUCTS LTD.

Director

28/03/1997

28/03/1997

-

Active

NO

3

U25209MH2005PTC156307

SUPREME MAXFILLS PRIVATE LIMITED

Director

25/08/2006

25/08/2006

-

Active

NO

4

U25209MH2007PTC175360

SIDHI VINAYAK POLYMERS PRIVATE LIMITED

Director

24/10/2007

24/10/2007

-

Active

NO

5

U25209MH2005PTC154849

SOLTEX MULTIPLAST PRIVATE LIMITED

Additional director

01/06/2010

01/06/2010

-

Active

NO

 

Name :

Mr.  Geet Naresh Chadha

Designation :

Director

Address :

B-21, Ganga Bhavan, J. P. Road, Versova, Mumbai - 400061, Maharashtra, India

Qualification :

B. Tech

PAN No.:

AFVPC2452G

DIN No.:

00870941

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

U25209MH2005PTC154849

SOLTEX MULTIPLAST PRIVATE LIMITED

Director

18/07/2005

18/07/2005

-

Active

NO

2

U99999MH1992PLC067460

SOLTEX PETRO PRODUCTS LTD.

Director

30/09/2011

01/01/2011

-

Active

NO

3

U25209MH2005PTC156307

SUPREME MAXFILLS PRIVATE LIMITED

Director

30/09/2011

30/03/2011

-

Active

NO

4

U17120MH2013PTC250642

UNIPRO PRODUCTS PRIVATE LIMITED

Director

02/12/2013

02/12/2013

-

Active

NO

5

U17299MH2013PLC250666

ULTRA POLYMIN LIMITED

Director

03/12/2013

03/12/2013

-

Active

NO

6

U25209MH2007PTC175360

SIDHI VINAYAK POLYMERS PRIVATE LIMITED

Additional director

01/01/2015

01/01/2015

-

Active

NO

 

Name :

Mrs. Neha Chadha Ruparel

Designation :

Director

Address :

B-21, Ganga Bhavan, J. P. Road, Versova, Mumbai - 400061, Maharashtra, India

Qualification :

M.B.A. and Diploma in Event Management

Date of Appointment :

26.08.2005

PAN No.:

ACTPC9002D

DIN No.:

00870984

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

U25209MH2005PTC154849

SOLTEX MULTIPLAST PRIVATE LIMITED

Director

18/07/2005

18/07/2005

-

Active

NO

2

U99999MH1992PLC067460

SOLTEX PETRO PRODUCTS LTD.

Director

26/08/2005

26/08/2005

-

Active

NO

3

U99999MH1987PTC043383

MEDASA INVESTMENTS PVT LTD

Director

25/08/2006

25/08/2006

-

Active

NO

4

U25209MH2005PTC156307

SUPREME MAXFILLS PRIVATE LIMITED

Director

25/08/2006

25/08/2006

-

Active

NO

5

U25209MH2007PTC175360

SIDHI VINAYAK POLYMERS PRIVATE LIMITED

Director

01/07/2008

01/07/2008

-

Active

NO

6

U23209MH2013PTC250321

SUNFLAG MICRO SOLUTIONS PRIVATE LIMITED

Director

23/11/2013

23/11/2013

-

Active

NO

7

U17120MH2013PTC250642

UNIPRO PRODUCTS PRIVATE LIMITED

Director

02/12/2013

02/12/2013

-

Active

NO

8

U17299MH2013PLC250666

ULTRA POLYMIN LIMITED

Director

03/12/2013

03/12/2013

-

Active

NO

 

Name :

Anil Kumar Bhasin

Designation :

Director

Address :

E-53, Pandav Nagar, Gali No:1, Samaspur Road, Patpadganj, Delhi - 110091, Delhi, India

Date of Appointment :

01.11.2007

DIN No.:

02463419

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2015

 

Names of Shareholders

 

No. of Shares

Mr.  Geet Naresh Chadha

 

506669

Mrs. Rita Naresh Chadha

 

549764

Mrs. Neha Chadha Ruparel

 

335729

Mr. Kantinath Chadha

 

10000

Mrs. Shikha Trehan

 

227550

Mrs. Shweta Chiudhary

 

277240

Soltex Multiplast Private Limited, India

 

551310

Primessonic Information Solutions Private Limited, India

 

24000

Sidhivinayak Polymers Private Limited, India

 

115000

Ipsl Exports Private Limited, India

 

72100

Sunflag Micro Solutions Private Limited, India

 

133478

Total

 

2802840

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

31.00

Directors or relatives of Directors

69.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing and supplying of master-batches and polymer additives.

(Confirmed by management)

 

 

Products :

Item Code No.

Product Description

3812

Polymer Additive

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

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 :

Not Divulged

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 :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name

IDBI Bank Limited

Branch

IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

LONG TERM BORROWING:

 

 

Term loan from bank

19.275

0.000

Vehicle loan

0.000

0.340

 

 

 

SHORT TERM BORROWING:

 

 

Cash credit account

245.191

217.191

Buyers credit

15.875

25.290

Total

280.341

242.821

 

NOTE:

 

LONG TERM BORROWING:

Unsecured loan amounting to Rs. 0.969 Million guaranteed personally by one of the director of company.

 

SHORT TERM BORROWING:

Secured against book debt and stock in trade

 

Auditors :

 

Name :

J.S Bhatia and Company

Chartered Accountants

Address :

14/15, Ashoka Centre, 2nd Floor, Lokmanya Tilak Marg, Mumbai - 400001, Maharashtra, India

Tel. No.:

91-22-22675066/ 22675067

Fax No.:

91-22-22692994

E-Mail :

jaipalbhatiaca@yahoo.co.in

PAN No. of Auditors Firm:

AACPB9780C

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Enterprises which are owned, or have significant

influence of or are partners

with Key management personnel and their relatives:
  • Supreme Maxfills Private Limited
  • Ultra Polymin Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5,000,000

Equity Shares

Rs.10/- each

Rs. 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,802,840

Equity Shares

Rs.10/- each

Rs. 28.028 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

28.028

24.561

24.561

(b) Reserves & Surplus

292.565

223.935

190.974

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

3.600

10.000

0.000

Total Shareholders’ Funds (1) + (2)

324.193

258.496

215.535

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

30.429

9.172

12.250

(b) Deferred tax liabilities (Net)

7.279

6.634

6.602

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.487

0.487

0.000

Total Non-current Liabilities (3)

38.195

16.293

18.852

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

269.634

245.406

156.343

(b) Trade payables

134.820

85.410

174.633

(c) Other current liabilities

18.289

14.700

22.430

(d) Short-term provisions

3.558

8.033

15.121

Total Current Liabilities (4)

426.301

353.549

368.527

 

 

 

 

TOTAL

788.689

628.338

602.914

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

124.720

110.118

109.693

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

43.646

0.000

0.000

(iv) Intangible assets under development

0.000

1.338

0.100

(b) Non-current Investments

0.583

0.578

0.391

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

11.746

8.938

0.000

(e) Other Non-current assets

9.376

8.363

12.458

Total Non-Current Assets

190.071

129.335

122.642

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

134.010

157.620

165.931

(c) Trade receivables

370.798

288.975

236.984

(d) Cash and cash equivalents

11.758

5.155

5.818

(e) Short-term loans and advances

72.226

44.853

19.504

(f) Other current assets

9.826

2.400

52.035

Total Current Assets

598.618

499.003

480.272

 

 

 

 

TOTAL

788.689

628.338

602.914

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

1,425.280

1,400.318

1,182.581

 

Other Income

4.624

6.175

3.476

 

TOTAL INCOME

1,429.904

1,406.493

1,186.057

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1,057.097

1,044.151

959.302

 

Purchases of Stock-in-Trade

56.579

45.915

33.568

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

4.288

31.899

-35.689

 

Employees benefits expense

33.569

32.574

22.745

 

Other expenses

181.389

163.692

135.472

 

TOTAL EXPENSES

1,332.922

1,318.231

1,115.398

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

96.982

88.262

70.659

 

 

 

 

 

Less

FINANCIAL EXPENSES

37.698

33.658

24.048

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

59.284

54.604

46.611

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

12.528

11.580

10.385

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

46.756

43.024

36.226

 

 

 

 

 

Less

TAX

14.533

10.063

7.684

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

32.223

32.961

28.542

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

127.813

94.942

66.400

 

 

 

 

 

 

BALANCE CARRIED TO THE BALANCE SHEET

160.036

127.903

94.942

 

 

 

 

 

 

EARNINGS / (LOSS) PER SHARE (RS.)

11.50 

13.42

11.62 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

10.192

10.932

15.958

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

77.039

71.681

NA

Net cash flows from (used in) operating activities

57.865

63.238

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

2.26

2.35

2.41

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

6.80

6.30

5.97

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.28

6.87

6.01

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

0.17

0.17

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.96

1.03

0.86

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.40

1.41

1.30

 

 

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

24.561

24.561

28.028

Reserves & Surplus

190.974

223.935

292.565

Share Application money pending allotment

0.000

10.000

3.600

Net worth

215.535

258.496

324.193

 

 

 

 

long-term borrowings

12.250

9.172

30.429

Short term borrowings

156.343

245.406

269.634

Current Maturities of Long term debt

15.958

10.932

10.192

Total borrowings

184.551

265.510

310.255

Debt/Equity ratio

0.856

1.027

0.957

 

 

 

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

Sales

1182.581

1400.318

1425.280

 

 

18.412

1.783

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

1182.581

1400.318

1425.280

Profit

28.542

32.961

32.223

 

2.41%

2.35%

2.26%

 

 

 

 

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

No

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

Yes

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

 

NOTE:

Registered office of the company is shifted from B-11, Ganga Bhawan, J. P. Road, Versova, Andheri West, Mumbai - 4000061, Maharashtra, India to present address w.e.f. 21.08.2008.

 

UNSECURED LOAN

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

LONG TERM BORROWING:

 

 

Business loan from bank

5.815

6.787

Business loan from financial institutions

5.338

2.045

 

 

 

SHORT TERM BORROWING:

 

 

Loan from corporate

8.569

2.925

Total

19.722

11.757

 

 

INDEX OF CHARGES:

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10550699

08/01/2015

195,000,000.00

IDBI BANK LIMITED

IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C44391308

2

10550778

24/12/2014

50,000,000.00

IDBI BANK LIMITED

IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C44360642

3

10518230

30/12/2014 *

145,000,000.00

CORPORATION BANK

SME MAROL BRANCH,ANDHERI(E),BONANZA SAHAR PLAZA, 
ANDHERI-KURLA ROAD,ANDHERI -EAST, MUMBAI, MAHARASHTRA - 400059, INDIA

C41720475

4

10421748

20/04/2013

230,000,000.00

IDBI BANK LIMITED

IDBI TOWER WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B73560211

5

10315795

15/05/2013 *

230,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B75458059

6

10294829

10/04/2013 *

230,000,000.00

IDBI BANK LIMITED

IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, 
MAHARASHTRA - 400005, INDIA

B73139990

7

10317346

16/11/2009

40,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A80921166

 

 

 

FIXED ASSETS

 

  • Air Conditioner
  • Computer
  • Electrical Equipment
  • Factory Building
  • Furniture’s and Fixtures
  • Land
  • Motor Car
  • Office Equipment
  • Plant and Machinery
  • Vehicles

 

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 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. 66.37

UK Pound

1

Rs. 98.91

Euro

1

Rs. 72.84

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KRN

 

 

Report Prepared by :

SYL

 

 

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

--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

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

 

48

 

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.