MIRA INFORM REPORT
|
Report No. : |
333306 |
|
Report Date : |
24.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKRY ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-318, Ahura Centre, 82 Mahakali Caves Road, Andheri (East), Mumbai -
400093, Maharashtra |
|
Tel No.: |
91-22-30863372 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
08.04.1993 |
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|
|
|
Com. Reg. No.: |
11-071527 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1993PTC071527 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20203B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA6005E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturing, Trading and Selling of Glycols (Chemicals). |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has shown a significant growth in the profit of the company
during FY 2014. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually 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
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 DECLINED BY
|
Name : |
Mr. Kamlesh Ramanlal Sanghavi |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9820072657 |
|
Date : |
23.07.2015 |
LOCATIONS
|
Registered Office : |
A-318, Ahura Centre, 82 Mahakali Caves Road, Andheri (East), Mumbai
-400093, Maharashtra, India |
|
Tel. No.: |
91-22-30863372/ 30863356 |
|
Mobile No.: |
91-9820072657 (Mr. Kamlesh Ramanlal Sanghavi) |
|
Fax No.: |
91-22-30863350 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 20 and 21, MIDC, Tarapur, Boisar, Palghar – 401506, Thane, Maharashtra,
India |
|
Tel. No.: |
91-2525-324455 |
|
Fax No.: |
91-2525-274452 |
|
|
|
|
Branch Office 1 : |
302, Parshva Chambers, 17/21 Issaji Street, Vadgadi, Mumbai – 400003,
Maharashtra, India |
|
Tel. No.: |
91-22-32552336 |
|
Fax No.: |
91-22-23447472 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Kamlesh Ramanlal Sanghavi |
|
Designation : |
Managing Director |
|
Address : |
Anupam, 10 Ansari Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
16.05.1953 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
08.04.1993 |
|
PAN No.: |
AAFPS9315P |
|
DIN No.: |
01095263 |
|
|
|
|
Name : |
Daksha Kamlesh Sanghavi |
|
Designation : |
Director |
|
Address : |
Anupam, 10 Ansari Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
09.07.1958 |
|
Date of Appointment : |
12.06.1993 |
|
PAN No.: |
AAFPS9314N |
|
DIN No.: |
01095274 |
|
|
|
|
Name : |
Mr. Mitul Kamlesh Sanghavi |
|
Designation : |
Whole-time Director |
|
Address : |
Anupam, 10 Ansari Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
29.11.1980 |
|
Date of Appointment : |
01.04.2004 |
|
PAN No.: |
AKJPS2266F |
|
DIN No.: |
01095282 |
|
|
|
|
Name : |
Mr. Pratik Kamlesh Sanghavi |
|
Designation : |
Whole-time Director |
|
Address : |
Anupam, 10 Ansari Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
23.01.1984 |
|
Date of Appointment : |
01.01.2006 |
|
PAN No.: |
ARCPS5470M |
|
DIN No.: |
01095287 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Kamlesh Sanghvi |
120000 |
|
Dakshan Sanghvi |
110000 |
|
Mitul Sanghvi |
25000 |
|
Pratik Sanghvi |
25000 |
|
Total |
280000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Kamlesh Sanghvi |
500 |
|
Daksha Sanghvi |
49000 |
|
Mitul Sanghvi |
500 |
|
Total |
50000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Trading and Selling of Glycols (Chemicals). |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · The Ratnakar Bank Limited, Shahupuri, Kolhapur - 416001, Maharashtra, India |
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Facilities : |
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Auditors : |
|
|
Name : |
K. K. Garg and Company Chartered Accountants |
|
Address : |
413/415, Hind Rajasthan Building, Dadasaheb Phalke Marg, Dadar (East), Mumbai -400014, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABPG4441L |
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|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
|
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|
Subsidiary Company
: |
· Authentic Petro Products Limited CIN No.: U24100MH1990PLC058352 |
|
|
|
|
Enterprises having
same Key Management Personal and /or their relatives as the reporting
enterprises: |
· Crest Chemicals · Akry Rasayan · Efforts Chemicals |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700,000 |
Equity Shares |
Rs.10/- each |
Rs. 7.000 Million |
|
50,000 |
Preference Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 7.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
280,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.800 Million |
|
50,000 |
Preference Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 3.300
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 |
3.300 |
3.300 |
2.800 |
|
(b) Reserves & Surplus |
792.975 |
558.860 |
465.855 |
|
(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) |
796.275 |
562.160 |
468.655 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
192.714 |
130.013 |
163.987 |
|
(b) Deferred tax liabilities (Net) |
30.274 |
24.401 |
6.010 |
|
(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) |
222.988 |
154.414 |
169.997 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
864.837 |
628.747 |
554.014 |
|
(b) Trade
payables |
311.273 |
285.004 |
213.140 |
|
(c) Other
current liabilities |
181.286 |
225.660 |
126.388 |
|
(d) Short-term
provisions |
1.338 |
1.049 |
0.868 |
|
Total Current
Liabilities (4) |
1358.734 |
1140.460 |
894.410 |
|
|
|
|
|
|
TOTAL |
2377.997 |
1857.034 |
1533.062 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
376.907 |
433.681 |
138.515 |
|
(ii)
Intangible Assets |
0.991 |
1.372 |
0.432 |
|
(iii)
Capital work-in-progress |
143.050 |
31.377 |
319.660 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
27.998 |
29.121 |
30.122 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
38.195 |
15.731 |
11.328 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
587.141 |
511.282 |
500.057 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
1.316 |
0.752 |
0.762 |
|
(b)
Inventories |
1188.284 |
852.391 |
628.486 |
|
(c) Trade
receivables |
393.839 |
328.549 |
256.457 |
|
(d) Cash
and cash equivalents |
4.735 |
0.423 |
0.710 |
|
(e)
Short-term loans and advances |
202.680 |
163.631 |
146.587 |
|
(f) Other
current assets |
0.002 |
0.006 |
0.003 |
|
Total Current
Assets |
1790.856 |
1345.752 |
1033.005 |
|
|
|
|
|
|
TOTAL |
2377.997 |
1857.034 |
1533.062 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
427.729 |
180.266 |
62.820 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
62.733 |
38.867 |
18.929 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
364.996 |
141.399 |
43.891 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
130.874 |
48.392 |
14.639 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
234.122 |
93.007 |
29.252 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
554.785 |
461.780 |
432.528 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.005 |
0.002 |
0.000 |
|
|
|
Dividend Tax |
0.001 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
788.901 |
554.785 |
461.780 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales (FOB Value) |
492.087 |
252.751 |
139.763 |
|
|
|
Freight recovered on Sales |
12.548 |
11.172 |
4.083 |
|
|
TOTAL EARNINGS |
504.635 |
263.923 |
143.846 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
723.605 |
536.727 |
413.096 |
|
|
|
Trading Goods |
18.554 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
742.159 |
536.727 |
413.096 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
709.46 |
281.84 |
1044.71 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
92.992 |
130.426 |
64.111 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.54 |
7.87 |
3.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
0.25 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.44 |
1.58 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.18 |
1.15 |
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 |
2.800 |
3.300 |
3.300 |
|
Reserves & Surplus |
465.855 |
558.860 |
792.975 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
468.655 |
562.160 |
796.275 |
|
|
|
|
|
|
long-term borrowings |
163.987 |
130.013 |
192.714 |
|
Short term borrowings |
554.014 |
628.747 |
864.837 |
|
Current maturities of
long-term debts |
64.111 |
130.426 |
92.992 |
|
Total
borrowings |
782.112 |
889.186 |
1150.543 |
|
Debt/Equity
ratio |
1.669 |
1.582 |
1.445 |
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 |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10488807 |
17/11/2014 * |
180,750,000.00 |
DBS BANK LTD |
3RD FLOOR, FORT HOUSE, 221 DR. D.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C35701200 |
|
2 |
10449648 |
07/09/2013 |
115,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B85247377 |
|
3 |
10439955 |
29/07/2013 * |
140,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B81235954 |
|
4 |
10444561 |
20/06/2014 * |
90,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
C10416956 |
|
5 |
10346583 |
07/03/2012 |
100,000,000.00 |
INDUSIND BANK LTD. |
GROUND FLOOR, HOTEL PANCHMAHAL CHOMPLEX, KODIALBAIL, MANGALORE, KARNATAKA - 575003, INDIA |
B36669620 |
|
6 |
10308104 |
31/08/2011 |
38,000,000.00 |
CITIBANK N.A. |
8TH FLOOR, NIRLON KNOWLEDGE PARK, BLOCK NO.B-7, |
B21429162 |
|
7 |
10330031 |
31/07/2013 * |
120,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B82678228 |
|
8 |
10274980 |
21/03/2011 |
150,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B08855603 |
|
9 |
10266947 |
17/01/2011 |
176,000,000.00 |
DBS BANK LIMITED |
221, FORT HOUSE, 3RD FLOOR, D.N.ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B05496203 |
|
10 |
10232845 |
06/08/2010 |
40,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO. C 60, B |
A91029652 |
|
11 |
10150597 |
25/06/2013 * |
150,000,000.00 |
DBS BANK LTD. |
3RD FLOOR, FORT HOUSE, DR. D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B78512662 |
|
12 |
10056896 |
20/03/2014 * |
170,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL |
C06071336 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred sales tax loan |
43.040 |
45.939 |
|
Loans and advances from directors |
15.948 |
9.699 |
|
Loans and advances from others |
0.560 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
23.066 |
28.861 |
|
Total |
82.614 |
84.499 |
CONTINGENT LIABILITIES
(AS ON 31.03.2014)
a) Bank Guarantee and Letter of Credit issued by banks outstanding Rs. 34.500 Million (Rs. 31.790 Million)
b) Income Tax demand due to pending rectification by A.O. as per direction given by appellant authority Rs. 2.310 Million (2.310 Million)
c) The Company has taken key man Insurance policy for an annual premium of Rs. 1.525 Million to be paid up to 2020-2021.
d) The Company has taken two Life Insurance policy for one of the directors for an annual premium of Rs. 9,70,000 each to be paid up to 2018-2019
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Other Equipments
Intangible Assets
· Goodwill
· 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.63.71 |
|
|
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.