%20PRIVATE%20LIMITED%20-%20332905%2021-Jul-2015_files/image001.jpg){kind=small}
MIRA INFORM REPORT
|
Report No. : |
332905 |
|
Report Date : |
21.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TROPICAL AGRO SYSTEM (INDIA) PRIVATE LIMITED (w.e.f. 10.07.2009) |
|
|
|
|
Formerly Known
As : |
TROPICAL AGRO SYSTEM (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Rajah Annamalai Building, Jhaver Centre, 4th Floor, 72,
Marshalls Road, Egmore, Chennai - 600008, Tamilnadu |
|
Tel. No.: |
91-044-28587841/28587874/28587880 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.12.1969 |
|
|
|
|
Com. Reg. No.: |
18-005774 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 14.095 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24210TN1969PTC005774 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pesticides and Allied agro-chemicals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated on 1st December 1969, belongs to the “Jhaver
group”, conglomerate having its presence across industries like healthcare, agricultural
chemicals, software and IT, logistics and apparel accessories. It is
well-established company having satisfactory track record. The ratings assigned to Tropical Agrosystem (India) Private Limited
(TAIPL) draw strength from the vast experience of the promoters belonging to
the Jhaver group, long operating track record of the company in the pesticide
and agrochemical industry, diversified product portfolio and a wide
distribution network. The ratings further take strength on healthy financial profile of the
company marked by decent profit margins and comfortable overall gearing. These rating are partly offset by company working capital intensive
nature of operations and exposure to agro-climatic conditions. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. In view a part of “Jhaver Group” backed by vast experienced of its
promoters, the company can be considered good for business dealings at its
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 |
CARE |
|
Rating |
Long Term Bank Facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
July 14 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
July 14 |
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. Srinivasan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-8939780937 |
|
Date : |
21.07.2015 |
LOCATIONS
|
Registered Office : |
Rajah Annamalai Building, Jhaver Centre, 4th Floor, 72,
Marshalls Road, Egmore, Chennai - 600008, Tamilnadu, India |
|
Tel. No.: |
91-044-28587841/28587874/28587880 |
|
Mobile No.: |
91-8939780937 (Mr. Srinivasan) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 12.09.2014
|
Name : |
Mr. Oommen Prasad |
|
Designation : |
Director |
|
Address : |
C8 Rathna Apartment Ah 7th Main
Road, Annanagar, Chennai, 600040, Tamilnadu, India |
|
Date of Birth/Age : |
28.09.1949 |
|
Date of Appointment : |
23.08.2000 |
|
DIN No.: |
01505426 |
|
|
|
|
Name : |
Mr. Ashok Kumar Chauhan |
|
Designation : |
Director |
|
Address : |
House No 217 Block B6, Sector –
5 Rohini, New Delhi, 110085, Delhi, India |
|
Date of Birth/Age : |
07.02.1956 |
|
Date of Appointment : |
08.05.2001 |
|
DIN No.: |
01593777 |
|
|
|
|
Name : |
Kalyansundaram Vasanthakumari |
|
Designation : |
Director |
|
Address : |
No 59 & 60, C Block Doshi
Manor, Chetty Street Aynavaram, Chennai, 600023 - Tamilnadu, India |
|
Date of Birth/Age : |
11.04.1954 |
|
Date of Appointment : |
24.10.2012 |
|
DIN No.: |
06414529 |
KEY EXECUTIVES
|
Name : |
Mr. Srinivasan |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Devkishan Jhavar, |
|
7220 |
|
H K Jhavar, |
|
12950 |
|
Artec Products (P) Limited, India |
|
8550 |
|
Radhakrishnan Jhavar |
|
9300 |
|
Kishan Vijay Kishan |
|
7100 |
|
Sri Kishan Dev Kishan |
|
1930 |
|
Tablets (India) Limited |
|
6410 |
|
Manju Jhaver |
|
1610 |
|
Vedant Jhavar |
|
700 |
|
Sri Kisan Jai Kishan |
|
1800 |
|
Abhimanyu Jhavar |
|
6200 |
|
Oakley Bowden & Co.(Mds.) Private Limited. |
|
7050 |
|
Healkraft Pharma(I)P. Limited |
|
6970 |
|
Woodbird Marketing Private Limited |
|
500 |
|
R S J K Project Consultancy Private Limited |
|
7560 |
|
Vishaka Tradecom Private Limited |
|
1000 |
|
D K Capital Market Private Limited |
|
1500 |
|
RSVK Mercantile (P) Limited |
|
5700 |
|
Provincial Investment Corp.(P) Limited |
|
11050 |
|
Ms.Srikanta Jhaver |
|
4300 |
|
Ms.Bimla D Jhaver |
|
3700 |
|
Mr.Kiran R Jhaver |
|
2000 |
|
Mr.Parikshith Jhaver |
|
4550 |
|
Mr.Bharat Jhavar, |
|
4950 |
|
Mr.Kapil Jhaver |
|
1450 |
|
D K Securities Private Limited |
|
700 |
|
Talon India Private Limited., Chennai |
|
7300 |
|
SRB Agencies Private Limited., Kolkata |
|
2550 |
|
R.S.J.K.Project Consultancy (P)Limited., Chennai |
|
4350 |
|
Total |
|
140950 |
Equity Share Break up (Percentage of Total Equity)
As on 12.09.2014
|
Category |
Percentage |
|
Bodies corporate |
50.86 |
|
Other top fifty shareholders |
49.14 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20332905%2021-Jul-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pesticides and Allied agro-chemicals. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. R. Ramachandran and Company Chartered Accountants |
|
Address : |
New No.17 (Old No.9/1) Linwood Avenue Mahalingapuram Chennai – 600034, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFM3624M |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 12.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
149,000 |
Equity Shares |
Rs.100/- each |
Rs. 14.900 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
140,950 |
Equity Shares |
Rs.10/- each |
Rs. 14.950
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 |
14.095 |
14.095 |
14.095 |
|
(b) Reserves & Surplus |
986.637 |
463.068 |
392.505 |
|
(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) |
1000.732 |
477.163 |
406.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
69.846 |
77.443 |
16.239 |
|
(b) Deferred tax liabilities (Net) |
6.571 |
3.890 |
73.244 |
|
(c) Other long term
liabilities |
167.281 |
152.924 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
243.698 |
234.257 |
89.483 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
859.534 |
672.341 |
665.261 |
|
(b) Trade
payables |
495.503 |
281.886 |
223.761 |
|
(c) Other
current liabilities |
375.670 |
483.231 |
6.799 |
|
(d) Short-term
provisions |
161.982 |
30.741 |
40.098 |
|
Total Current
Liabilities (4) |
1892.689 |
1468.199 |
935.919 |
|
|
|
|
|
|
TOTAL |
3137.119 |
2179.619 |
1432.002 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
873.526 |
404.099 |
233.053 |
|
(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 |
13.512 |
13.512 |
12.363 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
94.314 |
84.444 |
0.000 |
|
(e) Other
Non-current assets |
33.732 |
43.730 |
0.000 |
|
Total Non-Current
Assets |
1015.084 |
545.785 |
245.416 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
787.042 |
603.177 |
539.956 |
|
(c) Trade
receivables |
932.886 |
701.021 |
567.831 |
|
(d) Cash
and cash equivalents |
109.467 |
132.323 |
9.559 |
|
(e)
Short-term loans and advances |
292.640 |
197.313 |
69.240 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2122.035 |
1633.834 |
1186.586 |
|
|
|
|
|
|
TOTAL |
3137.119 |
2179.619 |
1432.002 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3591.835 |
2972.462 |
2328.806 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
231.162 |
204.499 |
155.596 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
95.315 |
98.924 |
93.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
135.847 |
105.575 |
61.841 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.002 |
12.499 |
13.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
119.845 |
93.076 |
48.796 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
42.329 |
22.513 |
14.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
77.516 |
70.563 |
34.726 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
549.95 |
500.62 |
246.37 |
|
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 flows from (used in) operation |
(23.606) |
256.553 |
1.026 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.16 |
2.37 |
1.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.84 |
4.30 |
3.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.20 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.93 |
1.57 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.11 |
1.27 |
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 |
14.095 |
14.095 |
14.095 |
|
Reserves & Surplus |
392.505 |
463.068 |
986.637 |
|
Net
worth |
406.600 |
477.163 |
1000.732 |
|
|
|
|
|
|
long-term borrowings |
16.239 |
77.443 |
69.846 |
|
Short term borrowings |
665.261 |
672.341 |
859.534 |
|
Total
borrowings |
681.500 |
749.784 |
929.380 |
|
Debt/Equity
ratio |
1.676 |
1.571 |
0.929 |
%20PRIVATE%20LIMITED%20-%20332905%2021-Jul-2015_files/image015.gif)
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) |
|
Sales |
2328.806 |
2972.462 |
3591.835 |
|
|
|
27.639 |
20.837 |
%20PRIVATE%20LIMITED%20-%20332905%2021-Jul-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2328.806 |
2972.462 |
3591.835 |
|
Profit |
34.726 |
70.563 |
77.516 |
|
|
1.49% |
2.37% |
2.16% |
%20PRIVATE%20LIMITED%20-%20332905%2021-Jul-2015_files/image019.gif)
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 |
No |
|
17] |
Details of sister concerns |
No |
|
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 |
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
5.936 |
0.336 |
|
|
|
|
|
Total |
5.936 |
0.336 |
OPERATIONS
During the year, the Company has registered a turnover
of Rs. 3591.800 Million as against Rs. 2972.500 Million in the previous year.
The Company has achieved profit of before tax of Rs. 119.845 Million as against
Rs. 93.076 Million recorded in the previous year.
FUTURE OUTLOOK
The business outlook for the current year was grim because of unfavorable monsoon conditions at the beginning and is improving subsequently. We expect a growth of 10% over the last financial year.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10572030 |
03/06/2015 * |
200,000,000.00 |
YES BANK LIMITED |
Nehru Centre, 9th floor,Discovery of India,, Dr. A |
C58399593 |
|
2 |
10298417 |
12/06/2011 |
3,874,000.00 |
INDIAN OVERSEAS BANK |
ANNA NAGAR (EAST) BRANCH, F-46, ANNA NAGAR EAST, |
B17284183 |
|
3 |
10226155 |
12/06/2010 |
417,764.00 |
INDIAN OVERSEAS BANK |
ANNA NAGAR EAST BRANCH, ANNA NAGAR EAST, CHENNAI, |
A88420740 |
|
4 |
90294817 |
12/06/2001 |
700,000.00 |
CENTURION BANK LTD. |
# 8-B RAJA ANNA SALAI BILD., #72 MARSHALL S ROAD |
- |
|
5 |
90294810 |
16/05/2001 |
400,000.00 |
CENTURION BANK LTD. |
B-8 II FLOOR RAJA ANNA SALAI BUILDING, OLD NO 7 |
- |
|
6 |
90292955 |
03/05/2001 |
700,000.00 |
CENTURION BANK LTD. |
B-8 II FLOOR RAJA ANNA SALAI BUILDING, OLD NO 7 |
- |
|
7 |
90292353 |
09/02/1996 |
269,115.00 |
LEAFIN INDIA LTD. |
A 24GULMOHAR APARTMENTS, 15 B SOUTH BOAG ROAD T. NAGAR, MADRAS, Tamil
Nadu - 600017, INDIA |
- |
|
8 |
90293596 |
02/12/1995 |
105,000.00 |
INDIAN OVERSEAS BANK |
AMBATTUR IND. ESTATE BRANCH, CHENNAI, Tamil Nadu |
- |
|
9 |
90295345 |
24/06/1986 |
1,500,000.00 |
LALA GOPIKRISHAN GOKULDAS AGENCIES |
118 BROADWAY, MADRAS, Tamil Nadu - 600108, INDIA |
- |
|
10 |
90293429 |
06/03/1986 |
101,000.00 |
INDIAN OVERSEAS BANK |
AMBATTUR IND. ESTATE BRANCH, CHENNAI, Tamil Nadu |
- |
FIXED ASSETS
- Land
- Building
- Computer
- Office equipment
- Vehicle
- Plant and machinery
- Furniture and fixture
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.63.55 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK/ ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.