MIRA INFORM REPORT
|
Report No. : |
329633 |
|
Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROHM AND HAAS (INDIA) PRIVATE LIMITED |
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|
|
|
Registered
Office : |
First Floor, Block B, Godrej IT Park, 02,Godrej, Business District, Pirojshanagar,
Vikhroli, Mumbai-400079, Maharashtra |
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Tel. No.: |
91-22-66741700 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.03.1995 |
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|
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Com. Reg. No.: |
11-132718 |
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Capital
Investment / Paid-up Capital : |
Rs. 3259.073 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U24231MH1995PTC132718 |
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|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14396E |
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PAN No.: [Permanent Account No.] |
AAACR2855F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader and
Marketing of Speciality Materials. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Rohm and Haas India Investment ApS,
Denmark. It is an established company having satisfactory track record. The company has incurred some accumulated losses. However, company is
achieving profit every year which is reducing some part its accumulated
losses The company also receives strong operational and managerial support
from its holding company. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. In view of long track record and strong parentage support, the company
can be considered normal for business 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
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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No: 91-22-66741561/ 66741700
LOCATIONS
|
Registered Office : |
First Floor, Block B, Godrej IT Park, 02,Godrej, Business District,
Pirojshanagar, Vikhroli, Mumbai-400079, Maharashtra, India |
|
Tel. No.: |
91-22-66741700 |
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Fax No.: |
91-22-66741824 |
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E-Mail : |
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Website : |
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Factories : |
Located at : ·
Taloja, Maharashtra ·
Sriperumbadur, Tamil Nadu |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Anilkumar Amarchand Gupta |
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|
Designation : |
Director |
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|
Address : |
Flat No B 504, Plot No 2 and 3, Sector 16A, Sanpada, Navi
Mumbai-400705, Maharashtra, India |
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Date of Birth/Age : |
25.02.1962 |
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Date of Appointment : |
30.06.2009 |
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PAN No.: |
ABJPG0273B |
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DIN No.: |
02188991 |
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Other Directorship :
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Name : |
Mr. Venkatesan Rajagopalan |
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|
Designation : |
Director |
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Address : |
Asvini Amrisa,4th Blk,3a,77,Kalasat, Hamman St, Rampuram,
Chennai-600089, Tamil Nadu, India |
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Date of Birth/Age : |
27.04.1954 |
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Qualification : |
D. No. 14, Flat N.-6, Simha Chalm Apartments, Appakkandu ST
Royapettah, Chennai-600014, Tamilnadu, India |
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|
Date of Appointment : |
30.06.2009 |
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PAN No.: |
ABSPR2999C |
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DIN No.: |
02691467 |
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|
Name : |
Ragunathan Thangavel |
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|
Designation : |
Additional Director |
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|
Address : |
Asvini Amrisa, 4th BLK, 3A, 77,Kalasat, Hamman St, Rampuram,
Chennai, 600089, Tamil Nadu, India |
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|
Date of Birth/Age : |
15.05.1972 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
06939240 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Rohm and Haas India Investment APS, Denmark |
325902323 |
|
Rohm and Haas Denmark Finance EPS, Denmark |
5000 |
|
Total |
325907323 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20329633%2001-Jul-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and
Marketing of Speciality Materials. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Deloitte
Haskins and Sells LLP Chartered Accountants |
|
Address : |
12, Dr. Annie Besant,
Road, Opposite Shiv Sagar Estate, Worli, Mumbai-400018, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Rohm
and Haas India Investment ApS, Denmark |
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|
|
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Ultimate Holding Company: |
The
Dow Chemical Company, USA |
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Fellow Subsidiary
Company: |
·
Rohm and Haas International Trading
(Shanghai) Company Limited., China ·
Rohm and Haas Europe Trading ApS- Belgium
Branch ·
Rohm and Haas Australia Pty Limited ·
Rohm and Haas Quimica Limiteda, Brazil ·
UCAR Emulsion Systems FZE, United Arab
Emirates ·
Rohm and Haas Taiwan, Inc., China ·
Shanghai Eastern Rohm and Haas Company,
China ·
Rohm and Hass Vietnam Company Limited.,
Viet Nam ·
Dow Chemical International Private Limited,
India (U24239MH1998PTC113551) ·
Rohm and Haas Chemicals LLC, USA, United
States ·
Rohm and Haas Texas Incorporated ·
Rohm and Haas South Africa (PTY) Limited,
South Africa ·
Rohm and Haas Shanghai Chemical Industry
Company Limited, China ·
Rohm and Haas China Inc., China ·
Rohm and Haas Mexico. S. de R. L. de C.V.,
Mexico ·
Rohm and Haas New Zealand Limited, New
Zealand ·
Hampshire Chemical Corp, United States ·
Beijing Eastern Rohm and Haas Company
Limited (BERHC), China ·
Dow Benelux B.V, Netherlands ·
Dow Engineering Company, United States ·
Rohm and Haas (China) Holding Company
Limited ·
Rohm and Haas Company, USA, ·
Rohm and Haas Philipines Inc., Philippines ·
Dow Agrosciences India Private Limited,
India (U01110MH1994PTC083566) ·
Dow Chemicals Taiwan Limited, China ·
Dow Chemical Pacific Limited, Hong Kong ·
Dow Chemicals Korea Limited, Korea ·
Dow Chemicals (China) Company Limited,
China ·
Dow Chemicals (China) Company Limited,
Singapore ·
Dow Chemical (Zhangjiagang) Company
Limited, China ·
Dow Chemical Thailand Limited ·
Rohm and Haas Foshan Speciality Materials
Company Limited, China ·
Rohm and Haas China Holding Company ·
Rohm and Haas Korea Company Limited ·
Rohm and Haas Europe Trading ApS -
Succursale France, France ·
Dow Agrosciences LLC, United States ·
Union Carbide Coprporation, United States ·
Dcomco, Inc., United States ·
Rohm and Haas Electronic Materials, LLC,
United Stated ·
Rohm and Haas ApS UK Branch, United Kingdom ·
Rohm and Haas Chemical (Thailand) Limited ·
PT. Rohm and Haas Indonesia ·
Rohm and Haas Singapore (Pte.) Limited ·
Dow Europe GmbH, Switzerland ·
Rohm and Haas European Trading ApS,
Copenhagen, Denmark |
|
|
·
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
330000000 |
Equity Shares |
Rs. 10/- each |
Rs. 3300.000 Million |
|
55000000 |
Preference Shares |
Rs. 10/- each |
Rs. 550.000 Million |
|
|
|
|
Rs. 3850.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325907323 |
Equity Shares |
Rs. 10/- each |
Rs. 3259.073
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
3259.073 |
3259.073 |
3259.073 |
|
(b) Reserves & Surplus |
(884.144) |
(1031.190) |
(1232.888) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2374.929 |
2227.883 |
2026.185 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
11.287 |
11.947 |
13.521 |
|
Total
Non-current Liabilities (3) |
11.287 |
11.947 |
13.521 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1350.000 |
1329.025 |
2156.644 |
|
(b)
Trade payables |
3154.367 |
2671.580 |
1905.208 |
|
(c)
Other current liabilities |
118.239 |
112.508 |
160.092 |
|
(d)
Short-term provisions |
23.766 |
25.070 |
10.704 |
|
Total
Current Liabilities (4) |
4646.372 |
4138.183 |
4232.648 |
|
|
|
|
|
|
TOTAL |
7032.588 |
6378.013 |
6272.354 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
923.883 |
1054.971 |
1193.824 |
|
(ii)
Intangible Assets |
0.721 |
1.273 |
1.825 |
|
(iii)
Capital work-in-progress |
36.086 |
43.040 |
49.885 |
|
(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 |
101.313 |
59.159 |
36.320 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1062.003 |
1158.443 |
1281.854 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1968.283 |
1989.133 |
1697.453 |
|
(c)
Trade receivables |
3107.980 |
2360.472 |
2490.177 |
|
(d)
Cash and cash equivalents |
213.170 |
84.070 |
37.107 |
|
(e)
Short-term loans and advances |
656.886 |
749.654 |
710.857 |
|
(f)
Other current assets |
24.266 |
36.241 |
54.906 |
|
Total
Current Assets |
5970.585 |
5219.570 |
4990.500 |
|
|
|
|
|
|
TOTAL |
7032.588 |
6378.013 |
6272.354 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11176.500 |
8782.800 |
7707.500 |
|
|
|
Other Income |
40.500 |
5.800 |
136.900 |
|
|
|
TOTAL (A) |
11217.000 |
8788.600 |
7844.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
10735.700 |
8200.600 |
7718.300 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
481.300 |
588.000 |
126.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
161.000 |
203.100 |
152.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
320.300 |
384.900 |
(26.700) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
173.200 |
183.200 |
187.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
147.100 |
201.700 |
(213.900) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX (G-H) (I) |
147.100 |
201.700 |
(213.900) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
142.200 |
2094.700 |
1731.600 |
|
|
TOTAL EARNINGS |
142.200 |
2094.700 |
1731.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.45 |
0.62 |
(0.66) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.32 |
2.30 |
(2.78) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.31 |
6.69 |
1.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.10 |
3.18 |
(3.44) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.09 |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57 |
0.60 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.26 |
1.18 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
3259.073 |
3259.073 |
3259.073 |
|
Reserves & Surplus |
(1232.888) |
(1031.190) |
(884.144) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2026.185 |
2227.883 |
2374.929 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
2156.644 |
1329.025 |
1350.000 |
|
Total
borrowings |
2156.644 |
1329.025 |
1350.000 |
|
Debt/Equity
ratio |
1.064 |
0.597 |
0.568 |
%20PRIVATE%20LIMITED%20-%20329633%2001-Jul-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
7707.500 |
8782.800 |
11176.500 |
|
|
|
13.951 |
27.254 |
%20PRIVATE%20LIMITED%20-%20329633%2001-Jul-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
7707.500 |
8782.800 |
11176.500 |
|
Profit |
(213.900) |
201.700 |
147.100 |
|
|
(2.78)% |
2.30% |
1.32% |
%20PRIVATE%20LIMITED%20-%20329633%2001-Jul-2015_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
1350.000 |
850.000 |
|
Working capital loans from banks |
0.000 |
79.025 |
|
Loans repayable on demand from banks |
0.000 |
400.000 |
|
Total |
1350.000 |
1329.025 |
COMPANY BACKGROUND
Rohm and Haas (India)
Private Limited ('the Company') was incorporated on14th March, 1995 as a private
limited company. The Company is engaged in the business of manufacturing,
trading and marketing of 'Speciality Materials' and has two manufacturing
facilities at Taloja, Maharashtra and Sriperumbadur, Tamil Nadu.
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from Corporate
Park, Unit No.1, V.N. Purav Marg, Chembur, Mumbai-400071, Maharashtra, India to
the present address w.e.f 02.05.2012
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Sales
tax demands disputed in appeals (These mainly relates to
short credit allowed for tax paid, non-submission of 'C' forms, differential
tax rates and incorrect disallowance of set-off of input tax credit on
purchase of raw materials) The Company is confident
of successfully contesting the appeals and does not expect the liability to
crystallise Arrears of dividend on
10% cumulative redeemable preference shares of Rs.10/- each (upto 23rd March,
2011) (On 3rd January, 2011, the terms of 10% cumulative redeemable |
57.136 |
31.566 |
|
Preference
shares had been changed from 'Redeemable' to 'Convertible at the option of
the company on or before 31st March, 2011'. The option was excercised and accordingly
the Company allotted equal number of equity shares of Rs.10/- each at par on
23rd March, 2011) |
265.743 |
265.743 |
|
Total |
322.879 |
297.309 |
FIXED ASSETS:
Tangible Assets
· Land
· Buiding
· Plant and Equipments
· Vehicles
· Furniture and Fixtures
· Office Equipment
· Computer Equipments
· Other Equipments
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. 63.75 |
|
|
1 |
Rs. 100.12 |
|
Euro |
1 |
Rs. 71.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
43 |
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.