MIRA INFORM REPORT
|
Report Date : |
02.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
BENZO CHEM INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Madhu Kunj, Off Sayani Road, Shankar Ghanekar Marg, Prabhadevi, Mumbai
– 400025, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.12.1986 |
|
|
|
|
Com. Reg. No.: |
11-041751 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 54.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1986PTC041751 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB11878G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB3369G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Bulk Drug Intermediates. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
decent liquidity position and adequate 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “A-” |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
11.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A2+” |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
11.10.2013 |
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.
INFORMATION DECLINED
MANAGEMENT NON –COOPERATIVE (91-22-43555888)
LOCATIONS
|
Registered Office : |
Madhu Kunj, Off Sayani Road, Shankar Ghanekar Marg, Prabhadevi, Mumbai
– 400025, Maharashtra, India |
|
Tel. No.: |
91-22-24320921 / 22 / 23 / 43555888 |
|
Fax No.: |
91-22-24320924 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
E-13/14, MIDC Area, Jalgaon - 425003, Maharashtra, India |
|
Tel. No.: |
91-257-2210241 |
|
Fax No.: |
91-257-2210441 |
|
Area : |
8100 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
B-26/27, MIDC Area, Dasarkhed, Malkapur - 443101, Buldhana, Maharashtra, India |
|
Tel. No.: |
91-7267-252365 |
|
Fax No.: |
91-7267-252341 |
|
Area : |
24000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
W-24, MIDC, Chemical Zone, Ambernath (West) - 421501, Maharashtra, India |
|
Tel. No.: |
91-251-2604616 / 2607228 |
|
|
|
|
Factory 4: |
B-24/25, MIDC, Dasharkhed, District Budhana, Malkapur – 443101, Maharashtra, India |
DIRECTORS
As on 27.09.2014
|
Name : |
Mr. Surendra Kumar Mohatta |
|
Designation : |
Managing director |
|
Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai - 400020,
Maharashtra, India |
|
Date of Birth/Age : |
01.09.1955 |
|
Qualification : |
B. Com |
|
Experience : |
27 Years |
|
Date of Appointment : |
01.12.1986 |
|
PAN No.: |
AAOPM7620E |
|
DIN No.: |
00388893 |
|
|
|
|
Name : |
Mr. Gaurav Surendra Kumar Mohatta |
|
Designation : |
Whole-time director |
|
Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai - 400020,
Maharashtra, India |
|
Date of Birth/Age : |
03.07.1981 |
|
Qualification : |
B. Sc. Industrial Engg (USA) |
|
Experience : |
9 Years |
|
Date of Appointment : |
01.11.2004 |
|
PAN No.: |
AGQPM0992H |
|
DIN No.: |
00604061 |
|
|
|
|
Name : |
Mr. Vimladevi Mohatta |
|
Designation : |
Director |
|
Address : |
31/32, Lotus Court, J. Tata Road, Churchgate, Mumbai – 400020,
Maharashtra, India |
|
Date of Appointment : |
10.11.1987 |
|
PAN No.: |
AAHPM4463C |
|
DIN No.: |
01637277 |
|
|
|
|
Name : |
Mr. Sunil Shantilal Nawal |
|
Designation : |
Director |
|
Address : |
301, Lotus Highland Residency, Near Shruti Park, Dokalinaka, Thane –
400607, Maharashtra, India |
|
Qualification : |
M.Sc. |
|
Date of Appointment : |
01.02.2012 |
|
DIN No.: |
05209816 |
|
|
|
|
Name : |
Mr. Umesh Rajaram Shetkar |
|
Designation : |
Director |
|
Date of Appointment : |
05.05.2014 |
|
DIN No.: |
06855946 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Ravi Kumar Mohatta HUF (Karta – Ravi Kumar Mohatta) |
|
298500 |
|
Surendra Kumar Mohatta |
|
515000 |
|
Madhu Mohatta and Surendra Kumar Mohatta |
|
196500 |
|
Vimladevi Mohattakml |
|
527000 |
|
Surendra Kumar Mohatta HUF (Karta – Surendra Kumar Mohatta) |
|
540000 |
|
Gaurav Mohatta |
|
320000 |
|
Ravi Kumar Mohatta |
|
307500 |
|
Madhu Surendra Mohatta |
|
398500 |
|
Gaurav Mohatta HUF |
|
298500 |
|
Ishita Mohatta |
|
135000 |
|
Raj
Rajeshwari Builders |
|
540000 |
|
Ajanta
Traders |
|
479500 |
|
Sashi
Kumar Mohatta |
|
9000 |
|
Gaurav Chemicals (India) Private Limited, India |
|
535000 |
|
Gitanjali Chemicals Private Limited, India |
|
300000 |
|
Total |
|
5400000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2014
|
Category |
Percentage |
|
Bodies corporate |
15.46 |
|
Directors or relatives of Directors |
84.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Bulk Drug Intermediates. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
M. Saboo and Company Chartered Accountants |
|
Address : |
D-9/002, Yogi
Nagar, Eksar Road, Borivali (West), Mumbai – 400091, Maharashtra, India |
|
Tel. No.: |
91-22-28980943/ 28983624 |
|
Fax No.: |
91-22-28983624 |
|
Income-tax
PAN of auditor or auditor's firm : |
AKMPS8826N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associate Company: |
|
|
|
|
|
Associate Firm: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 Millions |
|
1,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,400,000 |
Equity Shares |
Rs.10/- each |
Rs. 54.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
54.000 |
64.000 |
70.000 |
|
(b) Reserves & Surplus |
983.848 |
753.233 |
645.360 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
17.400 |
|
Total
Shareholders’ Funds (1) + (2) |
1037.848 |
817.233 |
732.760 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
30.306 |
147.253 |
228.743 |
|
(b) Deferred tax liabilities
(Net) |
28.199 |
29.226 |
28.397 |
|
(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) |
58.505 |
176.479 |
257.140 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
53.998 |
109.531 |
69.605 |
|
(b) Trade payables |
215.572 |
129.718 |
126.265 |
|
(c) Other current liabilities |
39.026 |
31.349 |
39.080 |
|
(d) Short-term provisions |
379.873 |
248.175 |
168.825 |
|
Total
Current Liabilities (4) |
688.469 |
518.773 |
403.775 |
|
|
|
|
|
|
TOTAL |
1784.822 |
1512.485 |
1393.675 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
519.228 |
526.620 |
471.155 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
23.290 |
3.828 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
542.518 |
530.448 |
471.155 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
3.099 |
3.099 |
3.760 |
|
(b) Inventories |
294.905 |
235.160 |
199.722 |
|
(c) Trade receivables |
499.854 |
422.216 |
476.957 |
|
(d) Cash and cash equivalents |
5.655 |
25.304 |
11.287 |
|
(e) Short-term loans and
advances |
438.723 |
296.123 |
230.591 |
|
(f) Other current assets |
0.068 |
0.135 |
0.203 |
|
Total
Current Assets |
1242.304 |
982.037 |
922.520 |
|
|
|
|
|
|
TOTAL |
1784.822 |
1512.485 |
1393.675 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2057.824 |
1818.095 |
1781.346 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
421.876 |
340.838 |
371.370 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.410 |
24.048 |
38.628 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
412.466 |
316.790 |
332.742 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
49.016 |
44.905 |
35.214 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
363.450 |
271.885 |
297.528 |
|
|
|
|
|
|
|
Less |
TAX |
128.974 |
90.829 |
98.528 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
234.476 |
181.056 |
199.000 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
655.432 |
488.560 |
328.039 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
20.000 |
10.000 |
20.000 |
|
|
Proposed Dividend |
3.300 |
3.600 |
15.900 |
|
|
Dividend Tax Payable |
0.560 |
0.584 |
2.580 |
|
|
Balance
Carried to the B/S |
866.048 |
655.432 |
488.560 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1128.744 |
963.517 |
1112.840 |
|
|
TOTAL
EARNINGS |
1128.744 |
963.517 |
1112.840 |
|
|
|
|
|
|
|
|
Imports
on CIF basis |
496.413 |
532.752 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
43.31 |
33.36 |
28.43 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
11.39 |
9.96 |
11.17 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
20.50 |
18.75 |
20.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.63 |
18.02 |
21.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.33 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.08 |
0.31 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80 |
1.89 |
2.28 |
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 |
70.000 |
64.000 |
54.000 |
|
Reserves & Surplus |
645.360 |
753.233 |
983.848 |
|
Net
worth |
715.360 |
817.233 |
1037.848 |
|
|
|
|
|
|
long-term borrowings |
228.743 |
147.253 |
30.306 |
|
Short term borrowings |
69.605 |
109.531 |
53.998 |
|
Total
borrowings |
298.348 |
256.784 |
84.304 |
|
Debt/Equity
ratio |
0.417 |
0.314 |
0.081 |
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) |
|
Sales |
1781.346 |
1818.095 |
2057.824 |
|
|
|
2.063 |
13.186 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1781.346 |
1818.095 |
2057.824 |
|
Profit |
199.000 |
181.056 |
234.476 |
|
|
11.17% |
9.96% |
11.39% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
NA |
0.000 |
0.000
|
|
|
|
|
|
|
Total |
NA |
0.000 |
0.000
|
|
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 |
No |
|
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 |
PERFORMANCE
During the year, the income from operations of the company has increased to Rs. 2057.800 Millions as compared to Rs. 1818.000 Millions in the previous year, registering a growth of 13% over the previous year. The production at the company’s new EOU has stabilized. The production at the Jalgaon unit and the Malkapur unit was satisfactory during the year. The company has tied up with various overseas customers and new markets for the export of its products. The company has also been in continuous research for the development of new products. The company is also in the process of establishing a new unit at Dahej SEZ in the state of Gujarat. All these efforts are expected to give further growth in the coming years. The Profit after tax for the year was at Rs. 234.400 Millions as compared to Rs. 181.000 Millions in the previous year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Intercorporate deposits |
0.106 |
0.437 |
|
Loans and advances from directors |
18.257 |
12.485 |
|
Loans and advances from others |
3.810 |
14.233 |
|
Other loans and advances, others |
8.133 |
8.910 |
|
Total |
30.306 |
36.065 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED
|
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90235809 |
17/12/2012 * |
415,000,000.00 |
CANARA BANK |
SHISHU MANDIR BUILDING, 12, G. S. LANE, PAREL, MU |
B65927808 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2014 |
|
|
|
|
Bank Guarantee |
5.660 |
|
In respect of claims not acknowledged by the company |
Amount Unascertainable |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other 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.63.32 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.76.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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.