PMIRA INFORM REPORT
|
Report No. : |
330775 |
|
Report Date : |
07.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
LINCON POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
308, Shanti Mall, Near Satadhar Cross Road, Ghatlodia, Ahmedabad –
380061, Gujarat |
|
Tel No.: |
91-79-27461493 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.03.1996 |
|
|
|
|
Com. Reg. No.: |
04-028973 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.075 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1996PTC028973 |
|
|
|
|
IEC No.: |
0803008597 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHML00266A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL4918P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, exporter of PP laminated woven sacks, PP unlaminated woven
fabrics, HDPE laminated woven fabrics, HDPE unlaminated woven etc. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Rating constrained on account of competitive packaging industry and
volatile raw material prices. However, the rating reflects the vast experience of the promoters, established
track record of operations and sound liquidity position. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities= BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
09.02.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities= A4+ |
|
Rating Explanation |
Minimal degree of safety and carry very high
credit risk. |
|
Date |
09.02.2015 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rakesh |
|
Designation : |
Export – Import Manager |
|
Contact No.: |
91-79-27461493 |
|
Date : |
06.07.2015 |
LOCATIONS
|
Registered Office : |
308, Shanti Mall, Near Satadhar Cross Road, Ghatlodia, Ahmedabad –
380061, Gujarat, India |
|
Tel. No.: |
91-79-27461493 / 27470603 |
|
Mobile No.: |
91-9898136125 (Mr. Sunil Kothari) |
|
Fax No.: |
91-79-27470812 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2700 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Block No. 38, Khatraj, Taluka- Kalol, District – Gandhinagar, Gujarat,
India |
|
Tel. No.: |
91-2764-281274 |
|
Fax No.: |
91-2764-281424 |
|
E-Mail : |
|
|
Area : |
9800 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
701/6A, 7th Floor, Krishna Green Land Park, Kasarvadavali
Junction, Ghod Bunder Road, Opposite Parshwanath Engineering College, Thane
(West), Thane - 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25970675 |
|
Fax No.: |
91-22-25970579 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Babubhai Kachrabhai Patel |
|
Designation : |
Chairman |
|
Address : |
111, Vaibhav Bunglow, Near Sun-N-Step Club, Sola Road, Ghatlodia,
Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
10.03.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.1999 |
|
DIN No : |
00229793 |
|
|
|
|
Name : |
Mr. Pareshbhai Babubhai Patel |
|
Designation : |
Director |
|
Address : |
111, Vaibhav Bunglow, Near Sun-N-Step Club, Sola Road, Ghatlodia,
Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
23.09.1976 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.1999 |
|
DIN No : |
00229834 |
|
|
|
|
Name : |
Mr. Bhaveshkumar Babubhai Patel |
|
Designation : |
Director |
|
Address : |
12/A, Malay Villa Bunglows, Opposite Silver Crust Bung, Sola Science City
Road, Ahmedabad – 380060, Gujarat, India
|
|
Date of Birth/Age : |
23.02.1979 |
|
Date of Appointment : |
24.09.2013 |
|
DIN No : |
00229870 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh |
|
Designation : |
Export – Import Manager |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Babubhai K. Patel |
282750 |
|
Pareshbhai B. Patel |
154150 |
|
Kamlaben B. Patel |
51627 |
|
Indumatiben l. Solanki |
2500 |
|
Nikitaben Patel |
6085 |
|
Anitaben P. Patel |
30700 |
|
Bhaveshbhai B. Patel |
15300 |
|
Laxmanbhai K. Patel |
14418 |
|
Vikrambhai M. Shah |
1500 |
|
Niravbhai P. Brahmbhatt |
2100 |
|
Sureshbhai K. Patel |
1600 |
|
S. M. Brothers (Proprietor Ranchodbhai Patel) |
100 |
|
Krupa Trading (Proprietor Shri Bansibhai Patel) |
100 |
|
Deepaliben Patel Jointly with Krupa Patel and Roopali Patel |
100 |
|
Parasbhai Patel Jointly with Varshaben Patel |
100 |
|
Adishbhai Patel |
100 |
|
Industrial Marketing, India (Proprietor Ram Avtar Agrawal) |
100 |
|
Divya Agrawal (H.U.F.) |
100 |
|
We Exim, India (Proprietor Vijaybhai Patel) |
50100 |
|
Hardikbhai D. Patel |
42950 |
|
Samir G. Patel |
47250 |
|
Shailesh R. Patel |
21275 |
|
Pushpaben G. Patel |
12500 |
|
Arvind B. Patel |
42500 |
|
Dhanesh B. Patel |
27500 |
|
|
|
|
Total |
807505 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
3.72 |
|
Directors or relatives of Directors |
96.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter of PP laminated woven sacks, PP unlaminated
woven fabrics, HDPE laminated woven fabrics, HDPE unlaminated woven etc. |
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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 : |
|
||||
|
Products : |
Finished Goods |
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|
Countries : |
USA |
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Imports : |
|
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Credit, Depend |
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|
Purchasing : |
L/C, Credit, Depend |
PRODUCTION STATUS AS ON 31.03.2012
|
Particulars |
Unit |
Installed
Capacity |
|
HDPE / PP Woven Sacks Fabrics and Others* |
MT |
6000 |
*Installed capacity is as certified by the management
|
Particulars |
Unit |
Actual
Production |
|
Woven Sacks |
Pcs. |
49944922 |
|
Fabrics |
Mt |
1136 |
|
Other Items* |
MT. |
1272 |
*Includes production of intermediates products
i.e. Tape (for sales)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
V K Soni and Company Chartered Accountants |
|
Address : |
501/B, Parshwa Tower, Near Pakvan-II, S G Road, Bodakdev, Ahmedabad –
380054, Gujarat, India |
|
PAN No.: |
AADFV2811R |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Company in which KMP/ Relatives of KMP can exercise significant
influence : |
· Malay Plast Private Limited
|
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
807515 |
Equity Shares |
Rs.10/- each |
Rs.8.075 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 |
8.075 |
8.075 |
8.075 |
|
(b) Reserves & Surplus |
134.683 |
121.741 |
107.561 |
|
(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) |
142.758 |
129.816 |
115.636 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
62.877 |
66.720 |
75.083 |
|
(b) Deferred tax liabilities (Net) |
18.313 |
20.585 |
19.653 |
|
(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) |
81.190 |
87.305 |
94.736 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
184.571 |
180.949 |
142.732 |
|
(b) Trade
payables |
35.362 |
11.364 |
37.440 |
|
(c) Other
current liabilities |
33.899 |
86.000 |
28.914 |
|
(d) Short-term
provisions |
1.657 |
2.390 |
0.947 |
|
Total Current
Liabilities (4) |
255.489 |
280.703 |
210.033 |
|
|
|
|
|
|
TOTAL |
479.437 |
497.824 |
420.405 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
146.439 |
152.927 |
134.909 |
|
(ii)
Intangible Assets |
1.039 |
0.843 |
0.908 |
|
(iii) Capital
work-in-progress |
0.000 |
0.202 |
17.065 |
|
(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 |
11.591 |
8.103 |
3.217 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
159.069 |
162.075 |
156.099 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
93.970 |
55.590 |
84.887 |
|
(c) Trade
receivables |
181.688 |
161.921 |
116.448 |
|
(d) Cash
and cash equivalents |
5.627 |
15.923 |
12.996 |
|
(e)
Short-term loans and advances |
31.922 |
36.658 |
48.511 |
|
(f) Other
current assets |
7.161 |
65.657 |
1.464 |
|
Total
Current Assets |
320.368 |
335.749 |
264.306 |
|
|
|
|
|
|
TOTAL |
479.437 |
497.824 |
420.405 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
896.823 |
737.309 |
|
|
|
Other Income |
|
10.164 |
7.413 |
|
|
|
TOTAL (A) |
1047.369 |
906.987 |
744.722 |
|
|
|
|
(Due to new
Machines) |
||
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials
Consumed |
|
634.824 |
562.528 |
|
|
|
Purchases of Traded Goods |
|
86.433 |
24.295 |
|
|
|
Changes in inventories
of Finished Goods, Stock-in-Trade and Work-in-Progress |
|
(9.098) |
(8.631) |
|
|
|
Employee Benefit Expenses |
|
20.521 |
16.741 |
|
|
|
Other Expenses |
|
104.844 |
84.359 |
|
|
|
Prior period Expenditure |
|
0.000 |
0.000 |
|
|
|
Preliminary expenses Written off |
|
0.000 |
0.000 |
|
|
|
TOTAL (B) |
1008.987 |
837.524 |
679.292 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including
Financial Expenses] |
69.463 |
65.430 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
30.528 |
29.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.382 |
38.935 |
35.759 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
19.042 |
17.963 |
17.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.340 |
20.972 |
18.457 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.398 |
6.792 |
9.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
12.942 |
14.180 |
8.657 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
55.870 |
20.753 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
394.982 |
259.093 |
|
|
|
Capital Goods |
|
1.661 |
0.000 |
|
|
|
Spare and Parts |
|
0.083 |
0.711 |
|
|
TOTAL IMPORTS |
NA |
396.726 |
259.804 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.03 |
17.56 |
15.29 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
14.067 |
18.861 |
|
Cash generated from operations |
NA |
29.505 |
28.150 |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.24 |
1.56 |
1.16 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
7.66 |
8.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
4.03 |
4.21 |
4.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.16 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.73 |
2.02 |
2.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.20 |
1.26 |
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 |
8.075 |
8.075 |
8.075 |
|
Reserves & Surplus |
107.561 |
121.741 |
134.683 |
|
Net
worth |
115.636 |
129.816 |
142.758 |
|
|
|
|
|
|
long-term borrowings |
75.083 |
66.720 |
62.877 |
|
Short term borrowings |
142.732 |
180.949 |
184.571 |
|
Total
borrowings |
217.815 |
247.669 |
247.448 |
|
Debt/Equity
ratio |
1.884 |
1.908 |
1.733 |
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 |
|
Total Income |
744.722 |
906.987 |
1047.369 |
|
|
|
21.789 |
15.478 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
744.722 |
906.987 |
1047.369 |
|
Profit |
8.657 |
14.180 |
12.942 |
|
|
1.16% |
1.56% |
1.24% |
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 |
Yes |
|
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) |
Yes |
|
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
The Registered address of the company has been shifted from F-2,
Aakansha Appartments, Near Sola Railway Crossing, Ghatlodia, Ahmedabad –
380061, Gujarat, India to the present address w.e.f. 29.01.2007.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Other loans and
advances |
43.632 |
33.395 |
|
|
|
|
|
Total |
43.632 |
33.395 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10025998 |
02/11/2006 |
32,500,000.00 |
PUNJAB NATIONAL BANK |
SOLA ROAD BRANCH, GHATLODIA, AHMEDABAD, GUJARAT - 380061, INDIA |
A06491955 |
|
2 |
80016174 |
31/05/2014 * |
218,700,000.00 |
PUNJAB NATIONAL BANK |
SOLA ROAD BRANCH, GHATLODIA, AHMEDABAD, GUJARAT - 380061, INDIA |
C06395909 |
|
3 |
90110571 |
29/05/2003 |
12,500,000.00 |
PUNJAB NATIONAL BANK |
SOLA ROAD BRANCH, SOLA BRANCH; CHAR RASTA; GHATLODIA, AHMEDBAD, GUJARAT - 380061, INDIA |
- |
|
4 |
90112555 |
26/02/2008 * |
45,000,000.00 |
PUNJAB NATIONAL BANK |
SOLA ROAD BRANCH, GHATLODIA, AHMEDABAD, GUJARAT - 380061, INDIA |
A34322578 |
|
5 |
90107784 |
10/04/2001 * |
7,500,000.00 |
PUNJAB NATIONAL BANK |
SHAHIBAG BRANCH, AHMEDBAD, GUJARAT, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land and Site Development
·
Building
·
Office Building
·
Plant and Machinery
·
Electric Installation
·
Furniture and Fixture
·
Office Equipment
·
Motor Car
·
Air Conditioner
·
Computer
·
Scooter
·
Wind Mill
·
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.63.58 |
|
|
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.70.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
42 |
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.