MIRA INFORM REPORT
|
Report No. : |
303565 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHEMPLAST SANMAR LIMITED (w.e.f. 28.09.1995) |
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|
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Formerly Known
As : |
CHEMICALS AND PLASTICS INDIA LIMITED (w.e.f. 15.05.1992) URETHANES INDIA LIMITED |
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Registered
Office : |
No. 9, Cathedral Road, Chennai – 600086, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.03.1985 |
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Com. Reg. No.: |
18-011637 |
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Capital
Investment / Paid-up Capital : |
Rs.800.000 Millions |
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CIN No.: [Company Identification
No.] |
U24230TN1985PLC011637 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC00051C |
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PAN No.: [Permanent Account No.] |
AAACC3000F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture PVC Resins. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 77000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2014. However, trade relation are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 (91-44-28118300)
LOCATIONS
|
Registered/ Corporate Office 1 : |
No. 9, Cathedral Road, Chennai – 600086, Tamilnadu, India |
|
Tel. No.: |
91-44-28118300/ 28273333/ 28273334/ 28273335/ 28273336/ 28128500/ 28128722/ 28128723/ 28128724 |
|
Fax No.: |
91-44-28111902/ 28269359/ 282777411/ 28112627 |
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E-Mail : |
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Website : |
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Plants : |
Mettron
Plant I :
Plant II, Plant
III and Plant IV: Raman Nagar PO, Mettur Dam - 636403,
Tamilnadu, India Cuddalore Plant : SIPCOT Industrial Complex Phase II, Semmankuppam, Cuddalore - 607 005, Tamilnadu, India. Tel. : 91 4142 239 280 Fax. : 91 4142 239 281 Karaikal
Plant: Melavanjore Village, T.R.Pattinam
Panchayat, Nagore - 611002, Tamilnadu, India Industrial
Alcohol Plant II :
Caustic Chlor Vedaranyam Salt
Works Salt
Works : |
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Branch Office : |
Located at :-
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DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Pavattakudi Sundaresan Jayaraman |
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Designation : |
Whole-time Director |
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Address : |
Flat No.B2, Ashok Aishwaryam New No.13, Habibullah Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
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Date of Birth/ Age : |
08.05.1950 |
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Date of Appointment : |
01.09.2000 |
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DIN No.: |
00011108 |
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PAN No.: |
AANPJ1076E |
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Name : |
Mr. Valapet Krishnaswamy Parthasarathy |
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Designation : |
Director |
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Address : |
Flat No.08/243, TTK Road, Chennai – 600018, Tamilnadu, India |
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Date of Birth/ Age : |
31.01.1939 |
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Date of Appointment : |
29.07.2004 |
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DIN No.: |
00022559 |
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Name : |
Mr. Mahadevan Surya Sekhar |
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Designation : |
Director |
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Address : |
Sri Raj 30, Krishnapuri, Rapuram, Chennai – 600028, Tamilnadu, India |
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Date of Birth/ Age : |
11.08.1948 |
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Date of Appointment : |
15.04.2005 |
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DIN No.: |
00013667 |
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Name : |
Mr. Manachanallur Narayanaswamy Radhakrishnan |
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Designation : |
Director |
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Address : |
No.12, Besant Avenue, Karpagam Gardens Adyar, Chennai – 600020, Tamilnadu, India |
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Date of Birth/ Age : |
03.08.1943 |
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Date of Appointment : |
08.06.2005 |
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DIN No.: |
00011091 |
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Name : |
Mr. Sankara Venkitasubra Mony |
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Designation : |
Director |
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Address : |
Flat No.B-201, The Atrium 49 Kalakshetra Road, Thiruvanmiyur, Chennai – 600041, Tamilnadu, India |
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Date of Birth/ Age : |
06.10.1937 |
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Date of Appointment : |
16.01.2006 |
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DIN No.: |
00013645 |
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Name : |
Mr. Balasubramanian Natraj |
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Designation : |
Director |
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Address : |
1A Seasons, No 19 Ganapathi Colony, 1st Street, Teynampet, Chennai – 600018, Tamilnadu, India |
|
Date of Birth/ Age : |
03.10.1946 |
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Date of Appointment : |
18.11.2013 |
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DIN No.: |
00022038 |
KEY EXECUTIVES
|
Name : |
Mr. Mahadevan Raman |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.8/2-19,
Moosa street, Chennai – 600017, Tamilnadu, India |
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Date of Birth/ Age : |
20.08.1960 |
|
Date of Appointment : |
31.10.2007 |
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PAN No.: |
AAEPR5253Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sanmar Holding Limited India |
|
1593 |
|
Sanmar Holding Limited India |
|
1 |
|
N Sankar |
|
1 |
|
Vijay Sankar |
|
1 |
|
P S Jayaraman |
|
1 |
|
S Sankaran |
|
1 |
|
N Muralidharan |
|
1 |
|
V S Ramesh |
|
1 |
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Total |
|
1600 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture PVC Resins. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
S R Batliboi and Associates Chartered Accountants |
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Address : |
Tidel Park 6th and 7th Floor, A Block (Module 601 701-702) No 4, Rajiv Gandhi Salai, Taramani, Chennai-600113, Tamilnadu, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS3421N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
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Associates: |
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Fellow
Subsidiaries: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000 |
Equity Shares |
Rs.500000/- each |
Rs. 2000.000 Millions |
|
3500000 |
Preference Shares |
Rs.100/- each |
Rs. 350.000 Millions |
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|
|
|
|
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Total |
|
Rs.2350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600 |
Equity Shares |
Rs.500000/- each |
Rs. 800.000
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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|
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(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
800.000 |
799.699 |
799.699 |
|
(b) Reserves & Surplus |
470.252 |
544.753 |
425.226 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
1250.000 |
1250.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
2520.252 |
2594.452 |
1224.925 |
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1722.594 |
3124.094 |
4687.336 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
387.344 |
261.378 |
277.237 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
2109.938 |
3385.472 |
4964.573 |
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|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
222.772 |
2465.101 |
2983.497 |
|
(b) Trade payables |
11528.757 |
7671.478 |
6954.063 |
|
(c) Other current liabilities |
2107.556 |
2973.132 |
2951.437 |
|
(d) Short-term provisions |
82.048 |
86.431 |
103.492 |
|
Total
Current Liabilities (4) |
13941.133 |
13196.142 |
12992.489 |
|
|
|
|
|
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TOTAL |
18571.323 |
19176.066 |
19181.987 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12059.706 |
12235.071 |
13599.303 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
66.440 |
614.300 |
72.383 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.500 |
7.500 |
17.800 |
|
(c) Deferred tax assets (net) |
834.600 |
818.400 |
813.700 |
|
(d) Long-term Loan and Advances |
175.689 |
191.145 |
153.173 |
|
(e) Other Non-current assets |
22.200 |
29.796 |
48.016 |
|
Total
Non-Current Assets |
13166.135 |
13896.212 |
14704.375 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1946.221 |
1812.267 |
1499.981 |
|
(c) Trade receivables |
1373.823 |
921.453 |
1308.334 |
|
(d) Cash and cash equivalents |
454.149 |
728.777 |
62.165 |
|
(e) Short-term loans and
advances |
1582.163 |
1757.161 |
1478.009 |
|
(f) Other current assets |
48.832 |
60.196 |
129.123 |
|
Total
Current Assets |
5405.188 |
5279.854 |
4477.612 |
|
|
|
|
|
|
TOTAL |
18571.323 |
19176.066 |
19181.987 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
26453.035 |
22432.236 |
21296.976 |
|
|
Other Income |
322.128 |
129.534 |
107.209 |
|
|
TOTAL
(A) |
26775.163 |
22561.770 |
21404.185 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
17121.045 |
13765.625 |
12960.507 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
115.757 |
(88.919) |
226.984 |
|
|
Employees benefits expense |
723.875 |
927.595 |
910.189 |
|
|
Other expenses |
6320.436 |
5399.164 |
5459.977 |
|
|
TOTAL
(B) |
24281.113 |
20003.465 |
19557.657 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2494.050 |
2558.305 |
1846.528 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1674.191 |
1504.555 |
1613.619 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
819.859 |
1053.750 |
232.909 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
914.780 |
938.923 |
933.910 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(94.921) |
114.827 |
(701.001) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
(16.200) |
(4.700) |
(181.518) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(78.721) |
119.527 |
(519.483) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(49212.37) |
74732.40 |
(0.65) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.30) |
0.53 |
(2.44) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.43 |
11.40 |
8.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.54) |
0.65 |
(3.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
0.04 |
(0.57) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.77 |
2.15 |
6.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.39 |
0.40 |
0.34 |
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 |
799.699 |
799.699 |
800.000 |
|
Reserves & Surplus |
425.226 |
544.753 |
470.252 |
|
Share Application money
pending allotment |
0.000 |
1250.000 |
1250.000 |
|
Net
worth |
1224.925 |
2594.452 |
2520.252 |
|
|
|
|
|
|
long-term borrowings |
4687.336 |
3124.094 |
1722.594 |
|
Short term borrowings |
2983.497 |
2465.101 |
222.772 |
|
Total
borrowings |
7670.833 |
5589.195 |
1945.366 |
|
Debt/Equity
ratio |
6.262 |
2.154 |
0.772 |
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 |
21296.976 |
22432.236 |
26453.035 |
|
|
|
5.331 |
17.924 |
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 |
21296.976 |
22432.236 |
26453.035 |
|
Profit |
(519.483) |
119.527 |
(78.721) |
|
|
(2.44%) |
0.53% |
(0.30%) |
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 |
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 |
No |
OPERATIONS
PVC Business
During the year domestic demand for Suspension Resin was affected by a combination of factors - extended monsoon, Telangana agitation, reduced government spending in an election year, tight liquidity etc. Prices fluctuated with quotes for imported material, India continuing to attract many international producers as one of the largest and fastest growing PVC markets in the world. Rupee depreciation, and the increase in Polymer duties from 5% to 7.5% in May 2013, helped stabilize prices to some extent.
Paste Resin prices dropped significantly during the year due to very low imported quotes consequent on the economic slowdown in Europe. Unfortunately, this coincided with the company increasing its capacity to 66,000 MT per annum by fully converting its Mettur facility into an exclusive Paste plant. However, the company was able to smoothly place the additional production in the domestic markets, albeit at the lower prices ruling in the market.
CHLOROCHEMICAL
BUSINESS
Caustic Soda prices started recovering during the year as Chlorine values were limited, also helped by the depreciation of the Rupee. The commissioning of the expansion in the company’s salt farm resulted in increased production and enabled the company to completely avoid salt purchase.
The falling price trend for Chloromethane products in Europe continued into the first half of the current year, with consequent impact on India.
European Methylene Dichloride being dumped in India at very low prices put enormous pressure on domestic prices. An Anti Dumping investigation was initiated by the Government of India on such dumped imports from EU and Korea, and after verification Anti Dumping Duty was imposed. Consequently, Methylene Dichloride prices started recovering a bit in the latter part of the year, helped also by the peaking of international Methanol prices.
HCFC 22 demand in India was normal while international demand remained weak. With export prices turning unviable, the Company had to scale down its operating rate to match with its domestic sale.
Environment
The company continues to place great importance on protecting the environment and managing natural resources responsibly. These principles have been incorporated in all its operational systems, with stringent solid and hazardous waste management processes followed at all plants.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10522670 |
27/09/2014 |
1,250,000,000.00 |
IFCI LIMITED |
IFCI TOWERS, 61, NEHRU
PLACE, NEW DELHI, DELHI - |
C22806707 |
|
2 |
10522445 |
22/09/2014 |
500,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
70 CATHEDRAL ROAD, CHENNAI, TAMIL NADU - 600086, INDIA |
C21656574 |
|
3 |
10484059 |
14/05/2014 * |
3,318,600,000.00 |
STATE INDUSTRIES PROMOTION CORPORATION OF TAMILNAD |
19-A ,MARSHALLS ROAD,, EGMORE, MADRAS, TAMIL NADU - 600008, INDIA |
C04058236 |
|
4 |
10384634 |
14/05/2014 * |
730,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
CATHEDRAL ROAD BRANCH, 70 CATHEDRAL ROAD, CHENNAI, TAMIL NADU - 600086, INDIA |
C05588900 |
|
5 |
10212383 |
14/05/2014 * |
1,050,000,000.00 |
STATE BANK OF HYDERABAD |
1ST FLOOR 45 SECOND LINE BEACH, CHENNAI, TAMIL NADU - 600001, INDIA |
C05646880 |
|
6 |
10210540 |
14/05/2014 * |
820,000,000.00 |
ANDHRA BANK |
MOWBRAYS ROAD BRANCH 265 TTK ROAD, ALWARPET, CHENNAI, TAMIL NADU - 600018, INDIA |
C05772561 |
|
7 |
10210123 |
14/05/2014 * |
120,000,000.00 |
BANK OF INDIA |
CHENNAI CORPORATE BANKING BRANCH IV FLOOR, TARAPORE TOWERS 826 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
C05888607 |
|
8 |
10210120 |
14/05/2014 * |
515,000,000.00 |
BANK OF INDIA |
CHENNAI CORPORATE
BANKING BRANCH IV FLOOR, TARAPO |
C05890199 |
|
9 |
10199773 |
14/05/2014 * |
550,000,000.00 |
STATE BANK OF MYSORE |
INDUSTRIAL FINANCE BRANCH II FLOOR M O H BUILDING, 576 ANNA SALAI, CHENNAI, TAMIL NADU - 600006, INDIA |
C05885694 |
|
10 |
10191413 |
05/10/2012 * |
500,000,000.00 |
BANK OF BARODA |
21 GOPALAKRISHNA STREET, T NAGAR, CHENNAI, TAMILNADU - 600017, INDIA |
B60937745 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
Intangible assets
- Computer software
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.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.