MIRA INFORM REPORT
|
Report No. : |
332205 |
|
Report Date : |
16.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
CITRUS
PROCESSING INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 1005, 10th Floor, Windfall-Sahar Plaza, J.B. Nagar,
Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
Tel. No. : |
91-22-61067900 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.06.2009 |
|
|
|
|
Com. Reg. No.: |
11-193480 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.105.183 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15500MH2009PTC193480 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC16928C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC6936B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is in a process of setting up a manufacturing plant for processing frozen concentrated orange juice. |
|
|
|
|
No. of Employees
: |
72 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Macimum Credit Limits : |
USD 6290000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated during 2009, having a moderate
track record. The company has progressed well, it has achieved a sizeable turnover
during FY 2014. However, the rating is constrained on account of continuous losses
incurred by the company and limited track record of business operations. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Ms. Reshma |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-61067900 |
|
Date : |
14.07.2015 |
LOCATIONS
|
Registered Office / Factory1 : |
Unit No. 1005, 10th Floor, Windfall-Sahar Plaza, J.B.
Nagar, Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra,
India |
|
Tel. No. : |
91-22-61067900 |
|
Mobile No. : |
91-8080040188 (Mr. Ajit Gupta – Manager (Procurement)) 91-8080040180 (Mr. Prawan Dua) |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Plot No.D-2, Kushnoor Industrial Area, MIDC Village, Ghugrala, Taluka – Nanded – 431709, Maharashtra, India |
DIRECTORS
AS ON 30.07.2014
|
Name : |
Mr. Pradeep Kumar Gode |
|
Designation : |
Director |
|
Address : |
601, Capri Heights, Near Pali Mala Road, St. Andrews Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1976 |
|
Date of Appointment : |
02.12.2013 |
|
DIN No. : |
06697015 |
|
|
|
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Manager |
|
Address : |
Flat No.82, Versova Venus Co-Op.Housing Society, Plot No.6, RDP-2, Mahada Layout, Andheri (West), Mumbai - 400058, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1967 |
|
Date of Appointment : |
02.12.2013 |
|
DIN No. : |
00140903 |
|
Name : |
Mr. Deepak Malik |
|
Designation : |
Director |
|
Address : |
91 Navjivan Vihar, Delhi - 110017, India |
|
Date of Birth/Age : |
14.11.1967 |
|
Date of Appointment : |
17.07.2013 |
|
DIN No.: |
00662141 |
|
|
|
|
Name : |
Michael Philipp Bar |
|
Designation : |
Director |
|
Address : |
Schlossbergstr, 21, Zollikon, 8702, Switzerland |
|
Date of Birth/Age : |
28.06.1962 |
|
Date of Appointment : |
17.07.2013 |
|
DIN No.: |
01576648 |
|
|
|
|
Name : |
Mr. Peter jan jacobus michielsen |
|
Designation : |
Director |
|
Address : |
Eikvaren 5, 1964 Mj Heemskerk, The Netherlands |
|
Date of Birth/Age : |
29.08.1962 |
|
Date of Appointment : |
17.07.2013 |
|
DIN No.: |
06579376 |
|
|
|
|
Name : |
Satrajit Bhattacharya |
|
Designation : |
Additional director |
|
Address : |
104, HDFC House, Dr. R K Shirodkar Road, Parel, Mumbai - 400012, Maharashtra, India |
|
Date of Appointment : |
18/12/2014 |
|
DIN No.: |
01313351 |
KEY EXECUTIVES
|
Name : |
Ms. Greena mahesh karani |
|
Designation : |
Secretary |
|
Address : |
603, Rite Marvel-Popular CHS, Opp. BMC, Office - K Ward,Gundavali Village, Andheri (East), Mumbai - 400069, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1981 |
|
Date of Appointment : |
29.07.2014 |
|
PAN No.: |
AKTPK2560J |
|
|
|
|
Name : |
Ms. Reshma |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2014
|
Names of Shareholders |
No. of Shares |
|
BR CPF Holdings (Mauritius) Limited, Mauritius |
5333445 |
|
Citrus Processing Mauritius Limited, Mauritius |
3496597 |
|
Pepsico Panimex Inc, Mauritius |
759802 |
|
Housing Development Finance Corporation Limited, India |
928414 |
|
Total |
10518258 |
AS ON 30.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
91.00 |
|
Bodies corporate |
9.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is in a process of setting up a manufacturing
plant for processing frozen concentrated orange juice. |
|
|
|
|
Products : |
Frozen concentrated orange juice |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
72 (Approximately) |
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Bankers : |
|
||||||||||||||||||||||
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|
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|
Auditors : |
|
|
Name : |
J. Shankar and Associates Chartered Accountants |
|
Address : |
D/6, 5th Floor, Everest, 156, Tardeo Road, Mumbai – 400034, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPJ4905D |
|
|
|
|
Ultimate Holding
Company : |
|
|
|
|
|
Holding Company : |
|
|
|
|
|
Promoter's holding
more than 20% Key Management Personnel (KMP) : |
Citrus Processing Mauritius Limited [w.e.f. 17 July, 2013] |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
CAPITAL STRUCTURE
AS ON 30.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,518,258 |
Equity Shares |
Rs.10/- each |
Rs. 105.183 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 |
105.183 |
31.015 |
5.713 |
|
(b) Reserves & Surplus |
2096.155 |
(4.212) |
(3.764) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
2.696 |
20.981 |
|
Total
Shareholders’ Funds (1) + (2) |
2201.338 |
29.499 |
22.930 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.241 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.241 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
6.743 |
0.264 |
0.539 |
|
(c) Other
current liabilities |
33.100 |
0.759 |
0.046 |
|
(d) Short-term
provisions |
7.239
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
47.082 |
1.023 |
0.585 |
|
|
|
|
|
|
TOTAL |
2248.661 |
30.522 |
23.515 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9.151 |
0.038 |
0.017 |
|
(ii)
Intangible Assets |
0.450 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
228.688 |
28.541 |
21.251 |
|
(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) |
1.162 |
0.116 |
0.024 |
|
(d) Long-term Loan and Advances |
89.308 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
328.759 |
28.695 |
21.292 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
1867.030 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
43.671 |
1.240 |
1.906 |
|
(e)
Short-term loans and advances |
9.185 |
0.587 |
0.000 |
|
(f) Other
current assets |
0.016 |
0.000 |
0.317 |
|
Total
Current Assets |
1919.902 |
1.827 |
2.223 |
|
|
|
|
|
|
TOTAL |
2248.661 |
30.522 |
23.515 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
28.038 |
0.182 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(12.836) |
(0.540) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
EXTRAORDINARY ITEMS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(12.836) |
(0.540) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.093 |
(0.092) |
0.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(21.929) |
(0.448) |
(0.016) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(4.212) |
(3.764) |
(3.748) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(26.141) |
(4.212) |
(3.764) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.08) |
(0.14) |
(0.03) |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
126.300 |
The above information has been parted by Ms. Reshma.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.64) |
(28.95) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
(0.02) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
40.78 |
1.79 |
3.80 |
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 |
5.713 |
31.015 |
105.183 |
|
Reserves & Surplus |
(3.764) |
(4.212) |
2096.155 |
|
Share Application money pending allotment |
20.981 |
2.696 |
0.000 |
|
Net worth |
22.930 |
29.499 |
2201.338 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Gross Income |
0.000 |
0.182 |
28.038 |
|
|
|
15,305.495 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Income |
0.000 |
0.182 |
28.038 |
|
Profit/Loss |
(0.016) |
(0.448) |
(21.929) |
|
|
(246.15%) |
(78.21%) |
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
Subject was incorporated in the year 2009. The company is in a process of setting up a manufacturing plant for processing frozen concentrated orange juice.
OPERATIONS
The financial year ended March 2014 was an eventful year for Citrus Processing India Private Limited (CPIL). After closing the financing round to set up India’s first frozen concentrated orange juice (FCOJ) plant in July 2013, they set out to build a team that would execute their vision of First industrial FCOJ processor and the largest FCOJ provider to Indian bottlers within 3 years.
The CPIL team is 17 strong and growing. The company has made several key hires in various key functions including Finance, HR, Project management, procurement and engineering.
Beginning July 2013, the company undertook a variety of activities to finalize the detailed engineering of the FCOJ facility in Kushnoor MIDC Nanded, Maharashtra, with their PMC partners Knexir, the full-fledged construction activities kicked off in October 2013. Since then the construction has progressed swiftly with zero Loss Time and Accident. As of July 2014 over 65% of the civil and Pre Engineered Building works (PEB) is complete.
During the course of this period, all the critical imported process equipment due diligence was completed, with us choosing vendors such as John Bean Technologies (JBT), Alfa Laval and Bucher Unipektin as suppliers. After an exhaustive diligence and negotiation process, a number of other service providers and local equipment vendors were also selected to supply other items such as boiler, effluent treatment plant (ETP),
HVAC etc.
In their efforts to speed up the product development process they closely collaborated with their shareholder Pepsi on a pilot sample development program. Juice extracted from Indian fruit was processed and shipped to Switzerland for conversion to FCOJ. This sample FCOJ is at Mumbai customs and once cleared, they will share this sample with Pepsi to start the commercial product trials.
During the year, they also launched a number of initiatives to further their understanding of the citrus fruit supply chain. Collecting data for designing a sustainable procurement model, to procure high quality fruit at the right price, will be one of the key success drivers for the business and their efforts during the year in this regard will enable us to develop a viable procurement strategy going forward.
HOLDING COMPANY
The Company is a subsidiary of BR CPF Holdings (Mauritius) Limited, a Private Limited Company by virtue of the provisions of Section ,4(1)(b) of the Companies Act, 1956 and Black River Capital Partners Fund (Food) LP by virtue of the provisions of Section 4(1)(c) of the Companies Act, 1956.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10465643 |
25/03/2015 * |
170,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDR |
C48367494 |
* Date of charge modification
NOTE: The registered
address of the company has been shifted from Calcot House, 3rd
Floor, 8/10, M.P. Shetty Marg, Tamarind Street, Fort, Mumbai – 400023,
Maharashtra, India to the present address w.e.f. 01.11.2013.
FIXED ASSETS
TANGIBLE ASSETS
- Furniture and Fixtures
- Office equipment
- Leasehold improvements
INTANGIBLE ASSETS
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
|
|
1 |
Rs.99.13 |
|
Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Information
gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
30 |
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.