MIRA INFORM REPORT
|
Report No. : |
333439 |
|
Report Date : |
24.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MWV INDIA PAPERBOARD
PACKAGING PRIVATE LIMITED (w.e.f. 28.08.2014) |
|
|
|
|
Formerly Known
As : |
MWV INDIA PAPERBOARD PACKAGING LIMITED (w.e.f. 18.08.2014) RUBY MACONS LIMITED |
|
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|
|
Registered
Office : |
A-203/204, Angelina Apartments, Srojini Road, Vile Parle (West),
Mumbai – 400056, Maharashtra |
|
Tel. No.: |
91-22-26186771 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.05.1986 |
|
|
|
|
Com. Reg. No.: |
11-039768 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.43.004 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920MH1986PTC039768 |
|
|
|
|
IEC No.: |
0388216140 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
SRTR01608F MUMR14446F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR1939A AABCR0343K |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer Exporter and Importer of Kraft Papers (Test Liner and
Fluting Papers) and Supplier of Paper and Pulp Making Machineries and Their
Parts. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “MWV WADCO INDIA LIMITED”, India. It is a well-established
company having fine track record. For the financial year ended 2014, company possesses moderate
operational performance and incurred loss from its operational activities. However, rating takes into consideration company’s healthy financial
risk profile marked by adequate networth base and favorable gap between trade
payables to its receivables. Company also receives strong financial and managerial support from its
holding company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of strong holding company support backed by adequate financial
base, the company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities= A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
30.03.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities= A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
30.03.2015 |
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 DENIED
Management Non Co-operative (91-22-26186771)
LOCATIONS
|
Registered Office : |
A-203/204, Angelina Apartments, Srojini Road, Vile Parle (West),
Mumbai – 400056, Maharashtra, India |
|
Tel. No.: |
91-22-26186771/ 72 |
|
Fax No.: |
91-22-26186773/ 74 |
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E-Mail : |
|
|
Website : |
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|
Area: |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No.789/4,
III Phase Road, GIDC, Vapi – 396195, Gujarat, India |
|
Tel. No.: |
91-260-3050000 |
|
Fax No.: |
91-260-3050010 |
|
E-Mail : |
|
|
Area : |
17500 sq. mtr. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
206/6/3, Amrut Industrial Estate, Opposite Dadra Check Post, U.T. of
Dadra and Nagar Haveli, India |
|
Area : |
6000 sq. mtr. |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
Survey No.56/1, Village Morai, Via Vapi, Vapi – 396191, Gujarat, India
|
|
Area : |
26 Acres |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Piyush Ranjan |
|
Designation : |
Director |
|
Address : |
I-202, Crescent - I, Thewoods, Near Fountain In, Kalewadi Phata,
Wakad, Pune - 411027, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1971 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No.: |
02773879 |
|
|
|
|
Name : |
Mr. Sandip Ganesh Kulkarni |
|
Designation : |
Director |
|
Address : |
31, Aashirwad, Prashant Nagar, Patharti Phata,, Opposite Taj Residency,
Agra Road, Nashik - 422010, Maharashtra, India |
|
Date of Birth/Age : |
09.05.1976 |
|
Date of Appointment : |
25.07.2014 |
|
DIN No.: |
05172491 |
|
|
|
|
Name : |
Mr. Peter Christian Durette |
|
Designation : |
Director |
|
Address : |
319 Wickham Glen Drive, Richmond VA, 232386161, United States of
America |
|
Date of Birth/Age : |
21.05.1973 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No.: |
06393740 |
|
|
|
|
Name : |
Mr. Naveen Ganzu |
|
Designation : |
Additional Director |
|
Address : |
No. 17B, Binny Crescent, No. 16, Benson Cross Road, Benson Town,
Bangalore - 560046, Karnataka, India |
|
Date of Appointment : |
12.03.2015 |
|
DIN No.: |
00094595 |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Meadwestvaco Holdings B. V., Netherlands |
|
1 |
|
Meadwestvaco B. V., Netherlands |
|
4300439 |
|
Total |
|
4300440 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Exporter and Importer of Kraft Papers (Test Liner and
Fluting Papers) and Supplier of Paper and Pulp Making Machineries and Their
Parts. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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||||
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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 : |
· State Bank of India, MID Corporate Branch, Vapi Industrial Estate, Vapi – 396195, Gujarat, India · Citi Bank, Vapi, Gujarat, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered accountants |
|
Address : |
12, Dr. A.B. Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400067,
Maharashtra, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
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Collaborators : |
Not Divulged |
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|
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|
Ultimate
Holding company : |
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|
|
|
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Holding company : |
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|
|
|
Fellow
Subsidiary company : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38500000 |
Equity Shares |
Rs.10/- each |
Rs.385.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4300440 |
Equity Shares |
Rs.10/- each |
Rs.43.004 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 |
43.004 |
33.318 |
33.318 |
|
(b) Reserves & Surplus |
1882.309 |
1778.649 |
1471.776 |
|
(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) |
1925.313 |
1811.967 |
1505.094 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
512.249 |
0.000 |
30.000 |
|
(b) Deferred tax liabilities (Net) |
219.145 |
286.955 |
286.076 |
|
(c) Other long term
liabilities |
0.980 |
8.880 |
0.000 |
|
(d) long-term
provisions |
2.464 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
734.838 |
295.835 |
316.076 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2104.292 |
643.278 |
332.990 |
|
(b) Trade
payables |
371.156 |
186.372 |
105.688 |
|
(c) Other
current liabilities |
163.141 |
66.783 |
35.636 |
|
(d) Short-term provisions |
0.386 |
0.037 |
9.293 |
|
Total Current
Liabilities (4) |
2638.975 |
896.470 |
483.607 |
|
|
|
|
|
|
TOTAL |
5299.126 |
3004.272 |
2304.777 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2643.559 |
1119.017 |
1168.054 |
|
(ii)
Intangible Assets |
1.094 |
1.551 |
4.286 |
|
(iii)
Capital work-in-progress |
481.452 |
543.295 |
100.010 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
106.230 |
176.299 |
33.465 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3232.336 |
1840.163 |
1305.816 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
639.884 |
468.630 |
391.482 |
|
(c) Trade
receivables |
885.844 |
599.682 |
517.542 |
|
(d) Cash
and cash equivalents |
288.031 |
13.880 |
27.418 |
|
(e)
Short-term loans and advances |
246.340 |
73.011 |
55.824 |
|
(f) Other
current assets |
6.691 |
8.906 |
6.695 |
|
Total
Current Assets |
2066.790 |
1164.109 |
998.961 |
|
|
|
|
|
|
TOTAL |
5299.126 |
3004.272 |
2304.777 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from
Operations |
|
4302.866 |
4181.208 |
|
|
|
Other Income |
|
11.833 |
15.443 |
|
|
|
TOTAL (A) |
4906.100 |
4314.699 |
4196.651 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
2632.007 |
2577.670 |
|
|
|
Purchases of stock-in-trade |
|
7.692 |
48.464 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
|
0.806 |
(5.525) |
|
|
|
Employee benefit expense |
|
148.132 |
118.551 |
|
|
|
Other expenses |
|
979.180 |
934.620 |
|
|
|
TOTAL (B) |
4955.200 |
3767.817 |
3673.780 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(49.100) |
546.882 |
522.871 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.700 |
12.667 |
66.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(131.800) |
534.215 |
456.075 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
132.200 |
88.962 |
86.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(264.000) |
445.253 |
369.562 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(32.900) |
138.380 |
104.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(231.100) |
306.873 |
265.074 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1078.500 |
771.700 |
508.500 |
|
|
|
|
|
|
|
|
|
Add |
LOSS TRANSFERRED
FROM TRANSFEROR COMPANY VIDE SCHEME OF MERGER |
(85.200) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend Distribution Tax |
-- |
-- |
1.900 |
|
|
BALANCE CARRIED
TO THE B/S |
762.200 |
1078.500 |
771.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
41.298 |
46.484 |
|
|
TOTAL EARNINGS |
NA |
41.298 |
46.484 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
1580.997 |
|
|
|
|
Stores & Spares |
|
|
|
|
|
|
Capital Goods |
|
|
|
|
|
TOTAL IMPORTS |
NA |
1580.997 |
1510.907 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(53.74) |
92.10 |
79.56 |
|
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 (used in) operations |
(324.524) |
452.960 |
405.159 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
NA |
7.13 |
6.34 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
12.71 |
12.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(5.48) |
18.09 |
16.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14) |
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.36 |
0.36 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
1.30 |
2.07 |
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 |
33.318 |
33.318 |
43.004 |
|
Reserves & Surplus |
1471.776 |
1778.649 |
1882.309 |
|
Net
worth |
1505.094 |
1811.967 |
1925.313 |
|
|
|
|
|
|
long-term borrowings |
30.000 |
0.000 |
512.249 |
|
Short term borrowings |
332.990 |
643.278 |
2104.292 |
|
Total
borrowings |
362.990 |
643.278 |
2616.541 |
|
Debt/Equity
ratio |
0.241 |
0.355 |
1.359 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
4196.651 |
4314.699 |
4906.100 |
|
|
|
2.813 |
13.707 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
4196.651 |
4314.699 |
4906.100 |
|
Profit |
265.074 |
306.873 |
(231.100) |
|
|
6.32% |
7.11% |
(4.71%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
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 |
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 |
PERFORMANCE
REVIEW:
During the year, the company continued to face difficult operating environment at Market place. The high foreign exchange fluctuations and substantial depreciation of Indian Rupee vs US Dollar during the year had impact on the company’s operating performance. However, directors are pleased to inform that company has substantially completed its planned expansion program during the year, by putting Paper Machine 4 at Morai into operation. The company continues to gradually scale up the production from expanded capacity while securing market share for the expanded capacity.
FUTURE OUTLOOK:
The global environment and economic activity is likely to continue to be an area of concern, especially due to depreciation of Indian Rupee against global currencies and inflationary pressures.
Despite this scenario, Indian economy stands on a strong footing because of lower export dependency, favourable demographics and rising middle class income. This favourable macro-economic situation is strengthened by stable political environment coupled with clear and growth oriented policies by the government. All these are expected to result into improved living standards.
The Indian Packaging industry is set to witness good growth, with policy changes and the growth in Indian retail environment. Increasing urbanization and low penetration of packaged products offers good opportunities.
The Company has already completed substantial part of its expansion program in terms of setting up of a new production line (PM4) with better technology and better product mix. The Machine has already been put into production stream effective Aug 2013 and is currently in stabilization and scale up mode.
The company has made Environment and Safety a subject of focus. Special efforts are being made at all manufacturing facilities to improve the standards of Environment and Safety.
They are confident that these initiatives will results in a better performance for the company in the coming years.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Term loans from others |
488.291 |
0.000 |
|
Deferred payment liabilities |
23.958 |
0.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans repayable on demand from banks |
1503.718 |
400.000 |
|
Other loans and advances |
215.655 |
0.000 |
|
|
|
|
|
Total |
2231.622 |
400.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10543670 |
03/09/2014 |
4,950,000.00 |
ICICI BANK LIMITED |
PLOT NO. 135, VIAHOUSE, GIDC CROSS, VAPI, GUJARAT, VAPI, GUJARAT - 396195, INDIA |
C40762478 |
|
2 |
90225295 |
16/08/2012 * |
721,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE BRANCH, VAPI, GUJARAT - 396195, INDIA |
B56452154 |
|
3 |
90237453 |
12/12/2005 * |
117,800,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL TOWNSHIP BRANCH, GIDC, VAPI, GUJARAT - 396195, INDIA |
- |
|
4 |
90225158 |
30/06/2012 * |
721,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE BRANCH, VAPI, GUJARAT - 396195, INDIA |
B43038009 |
*Date of modification Charges
FIXED ASSETS:
· Land-Free Hold
· Land –Leasehold
· Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment
· Vehicles
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 : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
62 |
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.