MIRA INFORM REPORT

 

 

Report No. :

331207

Report Date :

14.07.2015

 

IDENTIFICATION DETAILS

 

Name :

STALLION LABORATORIES PRIVATE LIMITED

 

 

Registered Office :

8/7, 8th Floor, Devpath, Off C G Road, Navrangpura, Ahmedabad – 380006, Gujarat

Tel. No.:

91-79-26441993

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

18.01.1988

 

 

Com. Reg. No.:

04-010285

 

 

Capital Investment / Paid-up Capital :

Rs.18.500 Million

 

 

CIN No.:

[Company Identification No.]

U24231GJ1988PTC010285

 

 

IEC No.:

0898006023

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMS04103B

 

 

PAN No.:

[Permanent Account No.]

AACCS6205N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Supplier of Pharmaceutical Products.

 

 

No. of Employees :

70 (Approximately) 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 140000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a private limited company incorporated in the year 1988, having moderate track.

 

Management of the company has failed to file its financial to the government department for the year 2014.

 

Rating however takes into consideration small networth base and less cash recorded by the company in 2013, which may hampered the liquid profile of the company.

 

Further, from indirect sources, we found that company has achieved turnover of Rs. 516.300 Million and Profit after tax of Rs. 12.700 Million in FY14.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for business dealings with some but correct.

 

The company can be considered for business dealings with some caution.

 

Note: Partial information has been taken from indirect sources i.e. ICRA ratings  

 

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 fund based facilities = BB-

Rating Explanation

Inadequate credit quality and high credit risk

Date

February, 2015

 

Rating Agency Name

ICRA

Rating

Short term fund based facilities = A4

Rating Explanation

Minimal degree of safety and very high 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 PARTED BY (GENRAL DETAILS)

 

Name :

Mr. Dhaval Shah

Designation :

Finance Manager

Contact No.:

91-9428218345

Date :

08.07.2015

 

 

LOCATIONS

 

Registered Office :

8th Floor, Devpath, Off C G Road, Navrangpura, Ahmedabad – 380 006, Gujarat, India

Tel. No.:

91-79-26560543 / 26441993

Mobile No.:

91-9428218345 (Mr. Dhaval)

Fax No.:

91-79-26560543

E-Mail :

info@stallionlabs.com,

dhaval@stallionlabs.com

finance@stallionlabs.com

Website :

http://www.stallionlabs.com

Location :

Owned

Locality:

Commercial

 

 

Factory :

C-1-B, 305/2/3/4/5, GIDC, Kerala (Bavla), Ahmedabad – 382220, Gujarat, India

Location :

Industrial

 

 

DIRECTORS

 

As on 28.09.2013

 

Name :

Mr. Vipul Rajnikant Shah

Designation :

Director

Address :

E-24, Ayojan Nagar Soc., Nava Sharda Mandir Road, Paldi, Ahmedabad, 380007, Gujarat, India

Date of Appointment :

30.05.1990

DIN No.:

00747038

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24231GJ1988PTC010285

STALLION LABORATORIES PRIVATE LIMITED

Director

30/05/1990

30/05/1990

-

Active

NO

2

U24231GJ1999PLC035574

ENDURANCE HEALTHCARE LIMITED

Director

11/03/1999

11/03/1999

-

Active

NO

 

 

Name :

Mr. Vijay Jasvantlal Shah

Designation :

Director

Address :

26/B, Jain Merchant Society, Near. Mahalaxmi Cross Road, Paldi, Ahmedabad, 380007, Gujarat, India

Date of Appointment :

30.05.1990

DIN No.:

00747226

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24231GJ1988PTC010285

STALLION LABORATORIES PRIVATE LIMITED

Director

30/05/1990

30/05/1990

-

Active

NO

2

U24231GJ1999PLC035574

ENDURANCE HEALTHCARE LIMITED

Director

11/03/1999

11/03/1999

-

Active

NO

3

L24232PB1995PLC016664

NECTAR LIFE SCIENCES LIMITED

Director

30/09/2014

30/11/1999

-

Active

NO

4

U51909MH1995PLC248308

TONIRA EXPORTS LIMITED

Director

15/11/2007

15/11/2007

23/07/2009

Active

NO

5

U24100DL2010PTC208781

GNANA LIFE SCIENCES PRIVATE LIMITED

Director

26/11/2012

26/11/2012

-

Active

NO

6

U24233GJ2013PTC076354

ANTILA BIOSCIENCE PRIVATE LIMITED

Director

08/08/2013

08/08/2013

07/12/2013

Active

NO

 

 

Name :

Apurva Sudhir Shah

Designation :

Director

Address :

15/115, Agarkar Nagar, Behind Alankar Theatre, Pune - 411001, Maharashtra, India

Date of Appointment :

31.03.2010

DIN No.:

01625573

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U85110PN2005PTC020949

RUBY AILCARE SERVICES PRIVATE LIMITED

Director

30/06/2005

30/06/2005

-

Active

NO

2

U24231GJ1988PTC010285

STALLION LABORATORIES PRIVATE LIMITED

Director

30/09/2010

31/03/2010

-

Active

NO

3

U85191PN2010PTC137124

HEALTH AND HYGIENE WASTE MANAGEMENT SOLUTIONS PRIVATE LIMITED

Director

16/08/2010

16/08/2010

-

Active

NO

4

U74999PN2007PTC131116

UNI-MEDICAL SERVICES PRIVATE LIMITED

Director

14/11/2013

14/11/2013

-

Active

NO

5

AAB-4557

RUBY DIAGNOCARE LLP

Designated Partner

10/04/2013

10/04/2013

-

Active

NO

 

KEY EXECUTIVES

 

Name :

Mr. Dhaval Shah

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 28.09.2013

 

Names of Shareholders

 

No. of Shares

 

Ishwarlal Shah

 

1069500

 

Vipul Shah

 

215000

 

Nirmalaben J. Shah

 

80000

 

Shilpa M. Shah

50000

Amisha K. Shah

 

30000

 

Sanjay J. Shah

 

95000

 

Kripa M. Shah

 

10000

 

Apurva Shah

 

120500

 

Rutwa V. Shah

 

100000

 

Vaishali S. Shah

 

20000

 

Ishwarlal Shah

 

20000

 

Veena S. Parikh

 

20000

 

Sudhir I. Shah

 

20000

 

Total

 

1850000

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 28.09.2013

 

Category

Percentage

Directors or relatives of Directors

100.00

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Supplier of Pharmaceutical Products.

 

 

Products :

Pharmaceutical Products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Pharmaceutical Products

Countries :
  • African Countries
  • Thailand

 

 

Imports :

 

Products :

Raw material

Countries :
  • China
  • Korea

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

70 (Approximately) 

 

 

Bankers :
  • ICICI Bank Limited, Ambawadi , Ahmedabad, Gujarat, India

Bank Name

HDFC Bank Limited

Branch

Navrangpura, Ahmedabad, Gujarat, India 

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

Secured Loans :

 

As on 31.03.2013

 

As on 31.03.2012

Term Loans

 

 

Bank of Baroda

(Secured by hypothecation of specified machineries and equitable Mortgage of factory building and personal guarantee of all director)

15.025

20.832

HDFC Bank Loan

(Secured against Maximo Tempo)

-

0.075

HDFC Bank Loan

(Secured against Staff Bus)

-

0.110

HDFC Bank Loan

(Secured against Volkswagen POLD)

0.211

0.335

HDFC Bank Loan

(Secured against Mahindra XUV)

0.808

0.000

 

16.044

21.352

SHORT TERM BORROWING

 

 

Bank of Baroda

 

 

Cash credit

20.438

18.613

Packing Credit

(Working Capital facilities are secured by hypothecation of goods, booksdebt, Equitable mortgage of factory building and personal guarantee of all Directors)

39.983

39.999

 

76.465

79.964

 

Auditors :

 

Name :

Parimal S Shah and Company

Chartered Accountants

Address :

104/B, 105/B, Anand Chambers, Near Old High Court Under Bridge, Navrangpura, Ahmedabad – 380 009, Gujarat, India

Tel. No.:

91-79-40050210/40234600

Fax No.:

91-79-26460442

PAN N Income-tax PAN of auditor or auditor's firm :

ABIPS9324C

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Related Parties  :
  • V Jashwanti and Company
  • Endurance Healthcare Limited
  • Medico Labs
  • Espee Pharmachem Private Limited

 

 

CAPITAL STRUCTURE

 

After 28.09.2013

 

Authorised Capital : Rs. 30.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 20.100 Million

 

As on 28.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1850000

Equity Shares

Rs.10/- each

Rs. 18.500 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

18.500

18.500

14.500

(b) Reserves & Surplus

29.842

23.956

14.044

(c) Money received against share warrants

 0.000

 0.000

 0.000

 

 

 

 

(2) Share Application money pending allotment

1.500

 0.000

 0.000

Total Shareholders’ Funds (1) + (2)

49.842

42.456

28.544

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

32.639

42.712

38.339

(b) Deferred tax liabilities (Net)

0.219

0.649

0.849

(c) Other long term liabilities

16.909

12.950

13.645

(d) long-term provisions

 0.000

 0.000

 0.000

Total Non-current Liabilities (3)

49.767

56.311

52.833

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

60.421

58.612

34.154

(b) Trade payables

63.480

65.137

80.778

(c) Other current liabilities

39.249

31.957

18.729

(d) Short-term provisions

2.553

2.653

1.390

Total Current Liabilities (4)

165.703

158.359

135.051

 

 

 

 

TOTAL

265.312

257.126

216.428

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

69.213

70.656

65.288

(ii) Intangible Assets

 0.000

 0.000

 0.000

(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

0.013

0.014

0.013

(c) Deferred tax assets (net)

 0.000

 0.000

 0.000

(d)  Long-term Loan and Advances

5.583

5.386

4.950

(e) Other Non-current assets

 0.000

 0.000

 0.000

Total Non-Current Assets

74.809

76.056

70.251

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 0.000

 0.000

0.000 

(b) Inventories

61.820

50.584

38.490

(c) Trade receivables

111.824

108.945

83.122

(d) Cash and cash equivalents

0.691

1.265

1.177

(e) Short-term loans and advances

16.168

20.276

23.388

(f) Other current assets

 0.000

 0.00

 0.000

Total Current Assets

190.503

181.070

146.177

 

 

 

 

TOTAL

265.312

257.126

216.428

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

 

 

TOTAL REVENUE

373.041

321.487

264.464

 

 

 

 

 

TOTAL EXPENSES

354.991

 305.077

254.102

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

18.050

16.410

10.362

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

10.795

10.898

5.810

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

7.255

5.512

4.552

 

 

 

 

 

TAX

1.800

1.800

1.500

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

5.886

3.912

2.381

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 211.884 

144.303

 N.A

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 3.18

2.70 

 1.94

 

 

Particulars

 

 

31.03.2015

31.03.2014

Sales Turnover (Approximately)                                         

 

670.000

516.300

Profit After Tax

 

--

12.700

 

The above information has been taken from indirect source i.e. ICRA

 

 

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

N.A

N.A

N.A

Cash generated from operations

N.A

N.A

N.A

Net cash flow from operating activity

N.A

N.A

N.A

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

1.58

1.22

0.90

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.73

2.14

2.10

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.15

0.13

0.16

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.87

2.39

2.54

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.15

1.14

1.08

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

14.500

18.500

18.500

Reserves & Surplus

14.044

23.956

29.842

 Share Application money pending allotment

0.000

0.000

1.500

Net worth

28.544

42.456

49.842

 

 

 

 

long-term borrowings

38.339

42.712

32.639

Short term borrowings

34.154

58.612

60.421

Total borrowings

72.493

101.324

93.060

Debt/Equity ratio

2.540

2.387

1.867

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

264.464

321.487

373.041

 

 

21.562

16.036

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

264.464

321.487

373.041

Profit

2.381

3.912

5.886

 

0.90%

1.22%

1.58%

 

 

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)

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

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

No

26

Turnover of firm for last five years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last four 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

 

 

FINANCIAL PERFORMANCE (As on 31.03.2013)

 

The company has continued to grow at more than 15% growth rate notwithstanding the market conditions and competition. They have increased sales volume and consequential increase in operational profit is achieved. This has become possible by utilizing increased manufacturing capacity which was increased in last two years. The director are now. Focusing on quality medicines to mankind at affordable rates and by increasing business volume improve the bottom line of the business also and satisfy all stake holders. The company are increasing their concentration on exports in various different regions keeping in mind the profitability and size of the international market and avoiding dependency on few countries. The company has started exporting to some new countries and some new pharma products also.

 

COMPANY OPERATIONS:

 

The company continues to Endeavour its beat to development and capitalize on its already registered products and long standing relationship with customers. They have been able to expand our operations overseas and now planning to open a branch overseas to increases business. Overall, the directors feel that the operations of the company have improved a lot and the mission improvement will also continue further in the years ahead. 

 

 

UNSECURED LOAN

Rs in mission

Particulars

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

From Shareholders, Directors and their Relatives

16.595

21.360

 

 

 

Total

16.595

21.360

 

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90096717

19/03/2001

7,750,000.00

BANK OF BARODA

N.BRANCH, AHMEDABAD, GUJARAT, INDIA

-

2

90096614

30/08/2013 *

121,925,000.00

BANK OF BARODA

NAVRANGPURA BRANCH, NARVRANGPURA, AHMEDABAD - 380009, GUJARAT, INDIA

B84689850

3

90097904

21/08/2013 *

121,925,000.00

BANK OF BARODA

NAVRANGPURA BRANCH, NARVRANGPURA, AHMEDABAD - 380009, GUJARAT, INDIA

B84690825

4

90101490

21/08/2013 *

121,925,000.00

BANK OF BARODA

NAVRANGPURA BRANCH, NARVRANGPURA, AHMEDABAD - 380009, GUJARAT, INDIA

B84984020

5

90096338

10/06/1994

2,200,000.00

BANK OF BARODA

N.BRANCH, AHMEDABAD, GUJARAT, INDIA

-

 

 

FIXED ASSETS

·         Computer

·         Building

·         Land

·         Office Building

·         Furniture

·         Furniture Office

·         Machinery

·         Vehicle

·         Equipment

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 records 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.63.46

UK Pound

1

Rs.98.47

Euro

1

Rs.70.69

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

RKI

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

3                

--RESERVES

1~10

2

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

27

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.