MIRA INFORM REPORT
|
Report No. : |
330102 |
|
Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHREE AJIT PULP AND PAPER LIMITED |
|
|
|
|
Registered Office
: |
Survey No. 239, Near Morai Railway
Crossing, Village Salvav, Via-Vapi, District Valsad - 396191, Gujarat |
|
Tel. No.: |
91-260-2437059-091-106/ 3090919 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation
: |
23.03.1995 |
|
|
|
|
Com. Reg. No.: |
04-025135 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 53.567 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L21010GJ1995PLC025135 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturer of Papers and also Power Generation by Windmills. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having a fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
ICRA |
|
Rating |
Long Term Rating = ICRA “A-“ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
February 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating = ICRA “A2+” |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
February 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 DENIED BY
|
Name : |
Mr. Mahesh Mandowara |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-260-2437106 |
|
Date : |
04.07.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 239, Near Morai Railway
Crossing, Village Salvav, Via-Vapi, District Valsad - 396191, Gujarat, India |
|
Tel. No.: |
91-260-2437059-091-106/ 3090919 |
|
Fax No.: |
91-260-2437090 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Gautam D Shah |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
49 Years |
|
Qualification : |
BE Civil |
|
Experience : |
24 Years |
|
Date of Appointment : |
01.07.2005 |
|
|
|
|
Name : |
Mr. Dhansukhlal G Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Piyush R Shah |
|
Designation : |
Director - Marketing |
|
|
|
|
Name : |
Mr. Laxminaryan J. Garg |
|
Designation : |
Director – Independent |
|
|
|
|
Name : |
Mr. Mitesh M Mehta |
|
Designation : |
Director – Independent |
|
Date of Birth/Age : |
06.03.1966 |
|
Qualification : |
Chartered Accountant |
|
Experience : |
Expertise in the field of finance, accounts and auditing |
|
Date of Appointment : |
01.03.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of
Shareholder |
Total No. of Shares |
As a % |
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
2540790 |
47.43 |
|
|
2540790 |
47.43 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
2540790 |
47.43 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
|
|
|
|
38530 |
0.72 |
|
|
|
|
|
|
349913 |
13.82 |
|
|
1508575 |
37.47 |
|
|
26332 |
0.56 |
|
|
18244 |
0.34 |
|
|
8088 |
0.22 |
|
|
1923350 |
52.57 |
|
Total Public
shareholding (B) |
1923350 |
52.57 |
|
Total (A)+(B) |
4464140 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
4464140 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Papers and also Power Generation by Windmills. |
|
|
|
|
Products : |
Not Available |
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|
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
Indian Overseas Bank ·
State Bank of India · Bank of Baroda ·
HDFC Bank Limited |
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|
Facilities : |
(Rs.
In Million)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitee Haskins and Sells LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
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Subsidiary Company (As on 31.03.2014)
: |
Shree Samrudhi Industrial Papers Private Limited |
|
|
|
|
Jointly controlled Entities (As on 31.03.2014) : |
Shree Samrat Pulp and Paper Private Limited Shree Samarpan Pulp and Paper Private Limited |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 53.567 Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs.150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5356700 |
Equity Shares |
Rs. 10/- each |
Rs.53.567
Million |
|
|
|
|
|
Reconciliation of Number of shares fully paid
up outstanding at the beginning and at the end of the year
|
Particulars |
31.03.2014 |
|
|
|
No. of Shares |
Rs. in Million |
|
Equity Shares at the beginning and at the end of the year |
5356700 |
53.567 |
Details of Shareholder holding more than 5 %
shares
|
Name of the Shareholders |
31.03.2014 |
|
|
|
No. of Shares |
% of Holding |
|
Gautam D Shah |
1064750 |
19.88% |
|
Sureshbhai C Shah |
454000 |
8.48% |
|
Jayantilal M Shah |
435000 |
8.12% |
|
Bela G Shah |
385540 |
7.20% |
|
Varun Shah |
305300 |
5.70% |
|
Bharat Mafatlal Shah |
270900 |
5.06% |
Terms and Rights attached to Equity Shares
The company has only one class of equity shares having a par value of Rs. 10 per share. Each Shareholder of equity share is entitled to one vote per share. The company declare and pay dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the company after distribution of preferential amount. The distribution will be in proportion of number of equity shares held by the shareholders.
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 |
53.567 |
53.567 |
53.567 |
|
(b) Reserves & Surplus |
702.514 |
636.651 |
518.019 |
|
(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) |
756.081 |
690.218 |
571.586 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
90.409 |
134.726 |
122.201 |
|
(b) Deferred tax liabilities
(Net) |
151.840 |
131.505 |
106.261 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.892 |
4.277 |
6.062 |
|
Total
Non-current Liabilities (3) |
248.141 |
270.508 |
235.973 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
194.725 |
171.969 |
116.971 |
|
(b) Trade payables |
123.011 |
96.899 |
100.141 |
|
(c) Other current liabilities |
90.183 |
113.531 |
127.386 |
|
(d) Short-term provisions |
5.443 |
14.386 |
7.769 |
|
Total
Current Liabilities (4) |
413.362 |
396.785 |
350.818 |
|
|
|
|
|
|
TOTAL |
1417.584 |
1357.511 |
1158.377 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
862.202 |
826.138 |
607.187 |
|
(ii) Intangible Assets |
0.000 |
0.277 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
26.117 |
85.051 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
44.568 |
34.167 |
25.172 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
37.214 |
25.221 |
35.339 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
943.984 |
911.921 |
752.749 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
195.237 |
144.649 |
145.892 |
|
(c) Trade receivables |
247.870 |
258.804 |
224.584 |
|
(d) Cash and cash equivalents |
5.291 |
11.382 |
17.028 |
|
(e) Short-term loans and
advances |
24.767 |
28.168 |
16.723 |
|
(f) Other current assets |
0.435 |
2.587 |
1.401 |
|
Total
Current Assets |
473.600 |
445.590 |
405.628 |
|
|
|
|
|
|
TOTAL |
1417.584 |
1357.511 |
1158.377 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1888.028 |
1897.742 |
1740.962 |
|
|
Other Income |
0.839 |
0.552 |
3.375 |
|
|
TOTAL
(A) |
1888.867 |
1898.294 |
1744.337 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1222.680 |
1211.234 |
1038.505 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(5.904) |
(22.413) |
(0.471) |
|
|
Employees benefits expense |
89.034 |
82.339 |
72.411 |
|
|
Fuel and Power consumed |
248.486 |
0.000 |
0.000 |
|
|
Other expenses |
139.837 |
371.759 |
358.634 |
|
|
TOTAL
(B) |
1694.133 |
1642.919 |
1469.079 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
194.734 |
255.375 |
275.258 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
44.828 |
31.156 |
36.047 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
149.906 |
224.219 |
239.211 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
51.085 |
45.301 |
39.078 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
98.821 |
178.918 |
200.133 |
|
|
|
|
|
|
|
Less |
TAX (H) |
27.609 |
57.152 |
59.276 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
71.212 |
121.766 |
140.857 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
635.358 |
516.726 |
379.002 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend |
NA |
3.134 |
3.134 |
|
|
Total
(M) |
NA |
3.134 |
3.134 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
706.570 |
635.358 |
516.725 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
NA |
9.610 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
339.005 |
251.438 |
|
|
Components and Stores parts |
NA |
14.32 |
9.474 |
|
|
Capital Goods |
NA |
17.527 |
19.883 |
|
|
TOTAL
IMPORTS |
NA |
370.852 |
280.795 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
13.29 |
22.73 |
26.21 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
70.819 |
107.195 |
|
Cash generated from operations |
NA |
206.591 |
206.380 |
|
Net Cash flow from operating activities |
NA |
170.053 |
173.783 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.77 |
6.42 |
8.09 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.31 |
13.46 |
15.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.20 |
13.79 |
19.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.26 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38 |
0.55 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.12 |
1.16 |
STOCK
PRICES
|
Face Value |
Rs.10.00 |
|
Market Value |
Rs. 75.60 |
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 |
53.567 |
53.567 |
53.567 |
|
Reserves & Surplus |
518.019 |
636.651 |
702.514 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
571.586 |
690.218 |
756.081 |
|
|
|
|
|
|
long-term borrowings |
122.201 |
134.726 |
90.409 |
|
Short term borrowings |
116.971 |
171.969 |
194.725 |
|
Total
borrowings |
239.172 |
306.695 |
285.134 |
|
Debt/Equity
ratio |
0.418 |
0.444 |
0.377 |
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 |
1740.962 |
1897.742 |
1888.028 |
|
|
|
9.005 |
(0.512) |
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 |
1740.962 |
1897.742 |
1888.028 |
|
Profit |
140.857 |
121.766 |
71.212 |
|
|
8.09% |
6.42% |
3.77% |
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 |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
CORPORATE INFORMATION (As on 31.03.2014)
Subject is a Kraft Paper manufacturing company
established in 1995 is liseted on BSE, VSE and ASE have a modern manufacturing
facility at Morai, Vapi, Gujrat state approximately 170 KM from Mumbai.
They are engaged in the manufacturing of
Testliner/Multilayer Testliner which is mainly used for manufacturing
corrugated boxes. Within a short span of time the products has found its own
place in the markets all over the country.
They are recognized as one of the leading
kraft manufacturing Unit in India for their quality and reliable products. They
have a strong Nationwide Dealers Networks Covering the entire country for Sales
and Services
INDUSTRY STRUCTURE
AND DEVELOPMENT (As on 31.03.2014)
The company manufacturers Multilayer Testliner Paper from 70 to 300 GSM
and 16 to 35 BF. This Product is mainly used for making corrugated Boxes,
Duplex Cortons, Corrugated Small e-fluet etc. packaging material.
AN OVERVIEW (As on 31.03.2014)
The Overall Performance of the company during the year under report has
been satisfactory In line with general
economic condition in the country. The Total oncome of the company has
increased by 8.89% to Rs. 2074.675 Million during the year from Rs. 1905.261
Million in the previous year. The profit before tax has decreased to Rs.
178.917 Million from Rs. 200.133 Million and the profit after tax Rs. 121.766
Million as compared to Rs. 140.858 Million of the previous year. The profit
before tax has decreased by 10.60% and profit after tax has decreased by 13.56%
CURRENT AND FUTURE
AND OUTLOOK (As on 31.03.2014)
The company has been constantly upgrading manufacturing facilities for
improving production, quality of products and yields. The directors expect that
there will be reasonable improvement in production, Sales turnover and
profitability of the company in the current year.
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10350704 |
02/04/2012 |
2,584,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
B37871068 |
|
2 |
10343195 |
28/02/2012 |
53,700,000.00 |
STATE BANK OF INDIA |
SPECIALISED
COMMERCIAL BRANCH, GROUND FLOOR,VIA HOUSE PLOT NO 135, GIDC CHAR RASTA, VAPI
- |
B35463132 |
|
3 |
10206849 |
21/03/2011 * |
147,500,000.00 |
INDIAN OVERSEAS BANK |
KANTA TRADE CENTRE, GIDC CHAR RASTA, VAPI SILVASSA ROAD, VAPI - 396195, GUJARAT, INDIA |
B10064210 |
|
4 |
10131802 |
08/08/2012 * |
774,500,000.00 |
INDIAN OVERSEAS BANK |
KANTA TRADE CENTRE, GIDC CHAR RASTA, VAPI SILVASSA ROAD, VAPI - 396191, GUJARAT, INDIA |
B56964679 |
*Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Claims against the company not acknowledge
as debt |
2.837 |
2.837 |
|
Commitments |
|
|
|
Estimate amount of contracts remaining to be
executed on capital and not provided for |
1.247 |
88.739 |
FIXED ASSETS:
Tangible Assets
- Land-Free Hold
- Building
- Plant and Machinery
- Windmill
- Electrical Installations
- Furniture and Fixtures
- Vehicles
- Office Equipment
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.