MIRA INFORM REPORT
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Report No. : |
308851 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
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Name : |
VARROC POLYMERS PRIVATE LIMITED (w.e.f. 18.04.2007) |
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Formerly Known
As : |
MOULDCRAFT (HINDUSTAN) PRIVATE LIMITED |
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Registered
Office : |
Gut No.99, Village Pharola, Taluka Paithan, |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.06.1995 |
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Com. Reg. No.: |
11-090037 |
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Capital
Investment / Paid-up Capital : |
Rs. 37.926 Millions |
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CIN No.: [Company Identification
No.] |
U25209MH1995PTC090037 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABPM2508F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of Automobile
components |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and sound profitability margins of the company. Trade relations are reported as fair. Business is active. 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. |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term rating: A+ |
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Rating Explanation |
Adequate degree at safety low credit risk. |
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Date |
10.07.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating: A1 |
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Rating Explanation |
Very strong degree at safety and lowest
credit risk. |
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Date |
10.07.2014 |
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
31-03-2014.
LOCATIONS
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Registered Office/ Factory : |
Gut No.99, Village Pharola, Taluka Paithan, |
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Tel. No.: |
91-240-2556227 |
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Mobile No.: |
91-9673001160 (Mr. Anil Ghatiya) |
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Fax No.: |
91-240-2564540/ |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
E – 4, MIDC Industrial Area, Waluj, |
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Tel. No.: |
91-240-2556227 |
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Fax No.: |
91-240-2564540 |
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E-Mail : |
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Factory 1 : |
VPPL-I Gut No.390,Takve Budruk, Taluka Maval, District Pune - 412 106, |
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Tel. No. : |
91-2114-244107 |
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Fax No. : |
91-2114-244447 |
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E-Mail : |
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Factory 2 : |
VPPL-II E-88, MIDC Ranjangaon, Taluka Shirur, District Pune - 412 220, |
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Tel. No. : |
91-2138-232738 |
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Fax No. : |
91-2138-232788 |
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E-Mail : |
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Factory 3 : |
VPPL-III M-165-167, MIDC Industrial Area, Waluj, District |
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Tel. No. : |
91-240-2551807 / 8 |
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Fax No. : |
91-240-2551102 |
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E-Mail : |
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Factory 4 : |
VPPL-GN Plot No.35A, Udyog Vihar,
Noida, District Gautam Budh Nagar - 201 306, |
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Tel. No. : |
91-120-2230740 |
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Fax No. : |
91-120-2230739 |
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E-Mail : |
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Factory 5 : |
VPPL-BN 58th Milestone, Village Binola, District Gurgaon, |
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Tel. No. : |
91-124-2279004 |
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E-Mail : |
DIRECTORS
As on 06.08.2014
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Name : |
Mr. Naresh Adishwarlal Chandra |
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Designation : |
Director |
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Address : |
Bhagwati Bhavan, 31/B, M L Dahanukar Marg, Mumbai – 400 026, |
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Date of Birth/Age : |
11.02.1935 |
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Date of Appointment : |
28.06.1995 |
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DIN No.: |
00027696 |
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Other Directorship :
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Name : |
Mr. Tarang Naresh Jain |
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Designation : |
Managing Director |
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Address : |
Gut No. 41 (P), Opposite Walmi, Kachanwadi, |
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Date of Birth/Age : |
21.03.1962 |
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Qualification : |
MBA |
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Date of Appointment : |
01.04.2007 |
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DIN No.: |
00027505 |
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Other Directorship :
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Name : |
Mr. Gautam Premnath Khandelwal |
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Designation : |
Director |
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Address : |
B-2, Alaknanda, 16-A, |
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Date of Birth/Age : |
01.04.1962 |
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Date of Appointment : |
23.07.2011 |
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DIN No.: |
00270717 |
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Other
Directorship :
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Name : |
Mr. Ramnathan Nagarajan |
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Designation : |
Whole time director |
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Address : |
2 Medha Apartment, Mayur Vihar, Phase – 1, Delhi – 110091, India |
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Date of Birth/Age : |
03.02.1958 |
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Date of Appointment : |
06.08.2012 |
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DIN No.: |
00815951 |
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Name : |
Mr. Padmanabh Sinha |
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Designation : |
Director |
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Address : |
23, Maker tower, Cuffee Parade, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
21.02.1971 |
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Date of Appointment : |
27.03.2014 |
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DIN No.: |
00101379 |
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Other directorship :
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KEY EXECUTIVES
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Name : |
Mr. Anil Ghatiya |
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Designation : |
Company Secretary |
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Address : |
At Floor, G-404, G – Building, Kasliwal Marvel Beed By Pass,
Aurangabad - 431 005, Maharashtra,
India |
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Date of Birth/Age : |
09.03.1980 |
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Date of Appointment : |
01.01.2005 |
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PAN No.: |
AGDPG4089J |
MAJOR SHAREHOLDERS
As on 06.08.2014
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Names of Shareholders |
No. of Shares |
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Naresh Chandra |
342101 |
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Naresh Chandra Jointly held with Mrs. Suman Jain |
182601 |
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Naresh Chandra |
4500 |
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Suman Jain |
343000 |
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Suman Jain Jointly held with Mr Naresh Chandra |
78400 |
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Tarang Jain |
1901501 |
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Tarang Jain Jointly held with Mrs. Roachana Jain |
406900 |
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Tarang Jain HUF |
4500 |
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Varroc Engineering Private Limited |
529100 |
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Total |
3792603 |
As on 06.08.2014
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Bodies corporate |
13.95 |
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Directors or relatives of Directors |
86.05 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of manufacturing of Automobile
components |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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Name : |
Price Waterhouse and Company Chartered Accountants |
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Address : |
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PAN No.: |
AAHFP0187A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises
which are owned, or have
significant influence of or
are partners with Key
management personnel and
their relatives : |
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Subsidiary
company : |
(CIN
No.: U29190MH2005PTC157474)
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CAPITAL STRUCTURE
After 06.08.2014
Authorised Capital : Rs. 45.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 5.291
Millions
As on 06.08.2014
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3792603 |
Equity Shares |
Rs.10/- each |
Rs. 37.926
Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
37.926 |
32.635 |
32.635 |
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(b) Reserves & Surplus |
3379.952 |
2720.575 |
2269.760 |
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(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
3417.878 |
2753.210 |
2302.395 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
274.522 |
399.454 |
540.518 |
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(b) Deferred tax liabilities
(Net) |
156.100 |
143.500 |
131.500 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
16.384 |
16.431 |
9.900 |
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Total
Non-current Liabilities (3) |
447.006 |
559.385 |
681.918 |
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(4) Current Liabilities |
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(a) Short term borrowings |
72.562 |
119.425 |
308.353 |
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(b) Trade payables |
1859.187 |
1292.183 |
1267.822 |
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(c) Other current liabilities |
802.225 |
633.271 |
502.834 |
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(d) Short-term provisions |
22.838 |
46.321 |
30.235 |
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Total
Current Liabilities (4) |
2756.812 |
2091.200 |
2109.244 |
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TOTAL |
6621.696 |
5403.795 |
5093.557 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
2797.203 |
2563.555 |
2306.645 |
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(ii) Intangible Assets |
23.908 |
19.872 |
15.101 |
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(iii) Capital work-in-progress |
245.688 |
211.349 |
211.273 |
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(iv) Intangible assets under
development |
2.486 |
0.966 |
4.093 |
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(b) Non-current Investments |
314.845 |
315.130 |
308.825 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
157.518 |
132.154 |
65.070 |
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(e) Other Non-current assets |
0.061 |
1.446 |
0.000 |
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Total
Non-Current Assets |
3541.709 |
3244.472 |
2911.007 |
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(2) Current assets |
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|
|
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(a) Current investments |
230.247 |
0.000 |
282.580 |
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(b) Inventories |
903.256 |
560.304 |
438.077 |
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(c) Trade receivables |
1696.024 |
1392.605 |
1273.106 |
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(d) Cash and cash equivalents |
65.424 |
39.232 |
119.304 |
|
(e) Short-term loans and
advances |
184.021 |
165.393 |
66.543 |
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(f) Other current assets |
1.015 |
1.789 |
2.940 |
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Total
Current Assets |
3079.987 |
2159.323 |
2182.550 |
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TOTAL |
6621.696 |
5403.795 |
5093.557 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
(A) |
10196.300 |
9230.900 |
8673.700 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES (B) |
9622.300 |
8480.900 |
7841.600 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
573.700 |
750.000 |
832.100 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
66.600 |
91.100 |
88.100 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
507.100 |
658.900 |
744.000 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
335.800 |
300.700 |
239.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
171.300 |
358.200 |
504.200 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
3.500 |
(95.500) |
151.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
167.800 |
453.700 |
352.500 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
1472.600 |
1082.200 |
783.900 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
16.800 |
45.400 |
35.300 |
|
|
Dividend |
0.000 |
1.600 |
2.600 |
|
|
Tax on Dividend |
8.200 |
16.300 |
16.300 |
|
|
Total
(M) |
25.000 |
63.300 |
54.200 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
1615.400 |
1472.600 |
1082.200 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
12.700 |
27.500 |
0.000 |
|
|
TOTAL
EARNINGS |
12.700 |
27.500 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
136.200 |
151.200 |
726.820 |
|
|
Stores Parts |
4.800 |
11.200 |
894.530 |
|
|
Capital Goods |
60.700 |
48.000 |
60.440 |
|
|
TOTAL
IMPORTS |
201.700 |
210.400 |
1681.790 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
44.24 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.65 |
4.92 |
4.06 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
5.63 |
8.12 |
9.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.83 |
7.35 |
11.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.13 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.19 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.03 |
1.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
32.635 |
32.635 |
37.926 |
|
Reserves & Surplus |
2269.760 |
2720.575 |
3379.952 |
|
Net
worth |
2302.395 |
2753.210 |
3417.878 |
|
|
|
|
|
|
long-term borrowings |
540.518 |
399.454 |
274.522 |
|
Short term borrowings |
308.353 |
119.425 |
72.562 |
|
Total
borrowings |
848.871 |
518.879 |
347.084 |
|
Debt/Equity
ratio |
0.369 |
0.188 |
0.102 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
8673.700 |
9230.900 |
10196.300 |
|
|
|
6.424 |
10.458 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
8673.700 |
9230.900 |
10196.300 |
|
Profit |
352.500 |
453.700 |
167.800 |
|
|
4.06% |
4.92% |
1.65% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
|
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deferred payment
liabilities |
159.185 |
172.984 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Rupee term loan from others |
0.000 |
60.000 |
|
|
|
|
|
Total |
159.185 |
232.984 |
PERFORMANCE
Net Sales and Other
Income rose by 10.46% to Rs. 10196.300 Millions from Rs.9230.900 Millions in
the previous year. The total expenses were higher by 13% at Rs. 10025.000
Millions against Rs. 8872.700 Millions during last year. However, PBT was
substantially down by more than 70% to Rs.171.300 Millions from Rs. 579.400
Millions during last year due to some of the non-recurring one-time income and
expenditure. PAT decreased by more than 63% to Rs. 167.800 Millions from Rs.
453.700 Millions in the last year due to non-recurring exceptional items.
ECONOMIC AND INDUSTRIAL OUTLOOK
Bigger economies
like U.S.A. and U.K. are recovering gradually from the economic slowdown but
others including most of EU countries are still struggling. Recent political
instabilities in central and western Asia region have only added to the
worries.
Indian automotive industry has been in the
middle of a slowdown over the past two years, hit hard by poor economic growth,
high interest rates and rising fuel prices and witnessed a very tough year
2012-13. Commercial vehicle sales in year 2013-14 have declined to a negative
growth of (-)20%; cars and utility vehicles to (-)6%. The motorcycle segment
has grown 3% whereas the only real growth segment has been the scooter segment
which has grown (+)21%.A new worry appears to be firming up for the industry in
the form of monsoons as the weather department has said rains will be below
average this season. Two-wheelers and small cars would be the categories that
would certainly be impacted from poor rains, and companies are hoping that the
monsoon picks pace even though it is delayed. A change in government at the
Centre and entry of a stable regime has given hope to the industry which feels
that economic reforms may lead to a revival in fortunes. However, as per the
industry experts, the efforts of the new government will likely to take full
effect in the second half of the year.Continuation of cut in excise duty that was
announced in the vote-on-account presented by the previous UPA regime is a
welcome move by the new Government.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10259068 |
27/12/2010 |
420,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, 14, MUMBAI PUNE ROAD, |
B02180065 |
|
2 |
10255958 |
27/12/2010 * |
20,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX,, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B02266427 |
|
3 |
10133279 |
07/08/2014 * |
230,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
C19300672 |
|
4 |
10131021 |
28/05/2012 * |
205,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, 14, PUNE - MUMBAI ROAD, WAKDEWADI, PUNE, Maharashtra - 411003, INDIA |
B40994899 |
|
5 |
10133281 |
20/11/2010 * |
230,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX,, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A99605156 |
|
6 |
10131096 |
14/11/2008 |
50,000,000.00 |
CITI BANK N.A. |
PARMAR HOUSE, 2413, EAST STREET, CAMP,, PUNE, Maharashtra - 411004, INDIA |
A51392926 |
|
7 |
90158083 |
14/11/2008 * |
107,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
STATION ROAD,, AURANGABAD, Maharashtra - 431001, INDIA |
A51349520 |
|
8 |
90155254 |
13/11/2001 * |
65,500,000.00 |
BHARAT OVERSEAS BANK LIMITED |
NIRALA BAZAR BR., AURANGABAD, Maharashtra, INDIA |
- |
|
9 |
90156402 |
30/08/1996 |
24,000,000.00 |
THE MAHARSTRA STATE FINANCIAL CORPORAITON |
NEW WXCELSIOR BUILDING, A.K. NAYAK MARG; FORT, MUMBAI, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
·
·
·
· Plant and Machinery
· Factory Equipments
· Electrical Installation
· Computers
· Mould and Dies
· Electrical Fittings
· Vehicles
· Furniture and Fixtures
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.62.24 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
16
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.