MIRA INFORM REPORT
|
Report No. : |
329841 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
KANCHI KARPOORAM LIMITED |
|
|
|
|
Registered
Office : |
Enadur Village, Parandur Road, Karaipettai Post, Kanchipuram – 631552,
Tamilnadu |
|
Tel. No.: |
91-44-26401914 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
31.01.1992 |
|
|
|
|
Com. Reg. No.: |
18-022109 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 41.422 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L30006TN1992PLC022109 |
|
|
|
|
IEC No.: |
0492024286 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEK00748G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2985K |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufactures of a Variety of Terpene
and Paper Chemicals. |
|
|
|
|
No. of Employees
: |
56 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 210000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Incorporated in the year 1992, Kanchi Karpooram Limited (KKL) a public
limited company manufacturers Camphor, its derivatives, Gum Rosin, Value Added
Resins and Fortified Rosin. Subject is established company having satisfactory track record. The rating reflects the extensive experience KKL’s promoters in the
camphor industry and its established relationships in the market. Rating further take consideration on significantly increases its scale
of operations and profitability, leading to an improvement in its financial
risk profile. However the strength are partially offset by KKL small net worth, and
its susceptibility to volatility in raw material prices and foreign exchange
rates. Trade relation are reported to be fair. Business is active. Payments
are reported to be usually correct as per commitment. In view of long track record of its operation backed by sound
operational base and its experienced promoter, the company can be considered
for business dealings at usual trade terms and condition. |
|
|
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Facilities: “BB+” |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
April, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DECLINED BY
|
Name : |
Mr. Radha Krishnan Chandrasekaran |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-44-26401914 |
|
Date : |
30.06.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Enadur Village, Parandur Road, Karaipettai Post, Kanchipuram – 631552,
Tamilnadu, India |
|
Tel. No.: |
91-44-26401914/15/16/17 |
|
Mobile No.: |
91-44-26401914 (Mr. Radha Krishnan Chandrasekaran) |
|
Fax No.: |
91-44-26401919 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
No. 1, Barnaby Avenue, Barnaby Road,
Kilpauk, Chennai-600010, Tamilnadu, India |
|
Tel. No.: |
91-44-26401914/
15/ 16/ 17 |
|
Fax No.: |
91-44-26401919 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Suresh Veerchandji Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dipesh Suresh Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Arun V Shah |
|
Designation : |
Director |
|
Date of Birth/Age : |
19.02.1964 |
|
Qualification : |
B.Com |
|
Expertise in Area : |
More than 30 years in sales in general and camphor in particular |
|
Date of Appointment : |
05.10.1994 |
|
DIN No.: |
01744884 |
|
|
|
|
Name : |
Mr. S.Srinivasan |
|
Designation : |
Director |
|
Experience : |
40 Years |
|
Date of Appointment : |
31.01.2012 |
|
|
|
|
Name : |
Mr. Na Raghu |
|
Designation : |
Director |
|
Date of Birth/Age : |
20.07.1969 |
|
Qualification : |
B.S Engineering and Technology, BITS, Pilani |
|
Expertise in Area : |
More than 25 Years Experience as BEE certified energy auditor |
|
Date of Appointment : |
20.11.2013 |
|
DIN No.: |
06736497 |
|
|
|
|
Name : |
Mr. K.Venkateswaran |
|
Designation : |
Director |
|
Date of Birth/Age : |
25.05.1935 |
|
Qualification : |
B.Com, FCS, |
|
Experience : |
More than 54 years in financial, secretariat and legal matters |
|
Date of Appointment : |
18.02.2014 |
|
DIN No.: |
00001899 |
|
|
|
|
Name : |
Mr. Pushpa Suresh Jain |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.09.1958 |
|
Qualification : |
Matric |
|
Expertise in Area : |
Engaging in Social Services |
|
Date of Appointment : |
10.09.2014 |
KEY EXECUTIVES
|
Name : |
Mr. Radha Krishnan Chandrasekaran |
|
Designation : |
Chief Financial Officer |
|
Date of Appointment : |
01.08.2014 |
|
PAN No.: |
AACPR5952N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and
Promoter Group |
|
|
|
|
|
|
|
|
1750900 |
42.27 |
|
|
1750900 |
42.27 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
1750900 |
42.27 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
35200 |
0.85 |
|
|
35200 |
0.85 |
|
|
|
|
|
|
153038 |
3.69 |
|
|
|
|
|
|
1414772 |
34.16 |
|
|
475157 |
11.47 |
|
|
313133 |
7.56 |
|
|
300800 |
7.26 |
|
|
10769 |
0.26 |
|
|
1564 |
0.04 |
|
|
2356100 |
56.88 |
|
Total Public shareholding (B) |
2391300 |
57.73 |
|
Total (A)+(B) |
4142200 |
100.00 |
|
(C) Shares held by Custodians and
against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
4142200 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures of a Variety of Terpene
and Paper Chemicals. |
|
|
|
|
Products : |
·
Fortified Rosin ·
Ester Gum · Phenolic / Maleic Resins, etc |
|
|
|
|
Brand Names : |
-- |
|
|
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Agencies Held : |
-- |
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Exports : |
-- |
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|
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Imports : |
-- |
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|
Terms : |
-- |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
56 (Approximately) |
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Bankers : |
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Facilities : |
NOTE : SHORT TERM
BORROWINGS * The
entire borrowing limits availed/to be availed by the company from Bank of
India are secured primarily by First Charge in favour of the Bank, of all the
company's inventory Book Debts, Plant and Machinery,both present and future,
and collaterally secured by First Charge on the company's Factory Land and
Buildings, by way of Equitable Mortgage. The entire facilities are also
collaterally secured by personal property of Director's and also guaranteed
by all Directors of the Company and by two relatives of Directors. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : (AS ON 31.03.2014) |
|
|
Name : |
R.Subramanian and Company Chartered Accountants |
|
Address : |
No.6, Krishnaswamy Avenue, Luz, Mylapore, Chennai
– 600004, Tamilnadu, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
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Related Parties (AS ON 31.03.2014) : |
·
Suresh Industries · Ambika Industries |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4142200 |
Equity Shares |
Rs.10/- each |
Rs. 41.422 Million |
|
|
|
|
|
|
Particulars |
31.03.2014 |
|
|
Number of Shares |
Rs. In
Million |
|
|
Reconcilation of number of shares outstanding |
|
|
|
Shares Outstanding as at 1st April 2013/1st April 2012 |
4142200 |
41.422 |
|
Shares Outstanding as at 31st March 2014/31st March 2013 |
4142200 |
41.422 |
|
List of Shareholdings more than 5% of total shares issued by the
company |
31.03.2014 |
|
|
Number of Shares held |
% of holdings |
|
|
Suresh Shah a.k.a V.Suresh |
337300 |
8.41 % |
|
Dipesh S Jain |
212850 |
5.14 % |
|
Pushpa S Jain |
274500 |
6.63 % |
|
Varshaa Goal |
318400 |
7.69 % |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
41.422 |
41.422 |
41.422 |
|
(b) Reserves & Surplus |
32.021 |
32.152 |
12.381 |
|
(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) |
73.443 |
73.574 |
53.803 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
7.275 |
1.052 |
1.021 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
7.275 |
1.052 |
1.021 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short-term borrowings |
168.831 |
117.806 |
115.159 |
|
(b)
Trade payables |
12.531 |
32.261 |
10.804 |
|
(c)
Other current liabilities |
10.397 |
21.994 |
15.328 |
|
(d)
Short-term provisions |
5.652 |
16.085 |
11.536 |
|
Total
Current Liabilities (4) |
197.411 |
188.146 |
152.827 |
|
|
|
|
|
|
TOTAL |
278.129 |
262.772 |
207.651 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
30.608 |
27.046 |
32.179 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.008 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
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) |
0.586 |
1.185 |
-0.963 |
|
(d) Long-term Loan
and Advances |
2.020 |
1.674 |
1.632 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
33.214 |
29.905 |
32.856 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
165.269 |
142.337 |
106.829 |
|
(c)
Trade receivables |
24.153 |
44.924 |
29.341 |
|
(d)
Cash and cash equivalents |
17.354 |
18.587 |
16.397 |
|
(e)
Short-term loans and advances |
36.821 |
25.574 |
20.104 |
|
(f)
Other current assets |
1.318 |
1.445 |
2.124 |
|
Total
Current Assets |
244.915 |
232.867 |
174.795 |
|
|
|
|
|
|
TOTAL |
278.129 |
262.772 |
207.651 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
527.594 |
566.038 |
511.604 |
|
|
|
Other Income |
2.308 |
1.553 |
1.462 |
|
|
|
TOTAL (A) |
529.902 |
567.591 |
513.066 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
442.448 |
427.454 |
368.163 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(27.133) |
(20.247) |
7.963 |
|
|
|
Employees benefits expense |
24.314 |
21.738 |
19.478 |
|
|
|
Other expenses |
65.627 |
71.257 |
69.999 |
|
|
|
TOTAL (B) |
505.256 |
500.202 |
465.603 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
24.646 |
67.389 |
47.463 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.462 |
12.131 |
15.641 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.184 |
55.258 |
31.822 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.526 |
12.312 |
11.787 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
3.658 |
42.946 |
20.035 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.099 |
15.906 |
7.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
2.559 |
27.040 |
12.953 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
327.609 |
277.612 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.62 |
6.53 |
3.13 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
0.915 |
0.916 |
|
|
|
|
|
|
Cash generated from operations |
NA |
35.072 |
28.797 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.49 |
4.78 |
2.53 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.67 |
11.91 |
9.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.32 |
16.42 |
9.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.58 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.40 |
1.63 |
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.24 |
1.14 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
|
|
|
Market Value |
Rs. 20.70/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT
EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
41.422 |
41.422 |
41.422 |
|
Reserves & Surplus |
0.000 |
32.152 |
32.021 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
41.422 |
73.574 |
73.443 |
|
|
|
|
|
|
Long-term borrowings |
1.021 |
1.052 |
7.275 |
|
Short term borrowings |
115.159 |
117.806 |
168.831 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.916 |
0.915 |
0.000 |
|
Total
borrowings |
117.096 |
119.773 |
176.106 |
|
Debt/Equity
ratio |
2.827 |
1.628 |
2.398 |
YEAR-ON-YEAR
GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales
|
511.604 |
566.038 |
527.594 |
|
|
|
10.640 |
(6.792) |
NET
PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
511.604 |
566.038 |
527.594 |
|
Profit |
12.953 |
27.040 |
2.559 |
|
|
2.53% |
4.78% |
0.49% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90281828 |
01/09/2014 * |
170,000,000.00 |
BANK OF INDIA |
CHENNAI OVERSEAS BRANCH, NO.30, (OLD NO.17), ERRABALU STREET, CHENNAI- 600001, TAMIL NADU, INDIA |
C22763296 |
BACKGROUND (AS ON 31.03.2014)
The Company
was incorporated on 31-01-1992. They are South India's first and largest
producer of a variety of Terpene and Paper chemicals. Their Products range from
Turpentine-based chemicals like Camphor, Dipentine, Iso Bornyl Acetate, etc. to
Gum rosin and its derivates such as Fortified Rosin, Ester Gum, Phenolic /
Maleic Resins and many others. They are keen to develop and expand them
customer base to provide industries with a stable, continuous supply of raw
materials from a totally new source. They are committed to product quality
assurance so as to be the innovative and reliable supplier you need.
PERFORMANCE AND OPERATIONS (AS ON 31.03.2014)
The year had
yielded good results. This could be achieved because of the procurement and
sales Policies adopted by the company.
FIXED ASSETS
Tangible Assets
·
Land
·
Buildings
·
Plant and Machinery
·
Electrical Installations
·
Lab Equipments
·
Vehicles
·
Air Conditioners
·
Office Equipments
·
Computers
·
Furnitures
Intangible Assets
·
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. 63.40 |
|
|
1 |
Rs. 98.94 |
|
Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.