MIRA INFORM REPORT
|
Report No. : |
334044 |
|
Report Date : |
28.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
VECTOR BIOTEK
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
425, New GIDC Estate,
Kabilpore, Navsari - 396424, Gujarat |
|
Tel. No.: |
91-2637-322634 / 322637 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.07.2002 |
|
|
|
|
Com. Reg. No.: |
04-040978 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33112GJ2002PTC040978 |
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|
|
IEC No.: |
5202007965 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCV5803G |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is engaged in the business of
manufacturing marketing and trading of diagnostics reagents, diagnostics
instruments and allied products. |
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|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 2002
having a satisfactory track record. Available financial indicates company sound financial risk profile
marked by healthy networth position with good profitability margin and
favorable gap between trade payable and trade receivable. 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 PARTED BY
|
Name : |
Mr. Kapil Jadhav |
|
Designation : |
Application Manager |
|
Contact No.: |
91-9375794108 |
|
Date : |
27.07.2015 |
LOCATIONS
|
Registered Office / Factory : |
425, New GIDC Estate,
Kabilpore, Navsari - 396424, Gujarat, India |
|
Tel. No.: |
91-2637-322634 / 322637 |
|
Mobile No.: |
91-9375794108 (Mr. Kapil Jadhav) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 20.09.2014
|
Name : |
Mr. Dineshchandra Kalidas Joshi |
|
Designation : |
Whole-Time Director |
|
Address : |
88-89, Pratiksha Cooperative Society, Opposite Vidhyakunj School, Gandevi Road, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
31.07.1960 |
|
Date of Appointment : |
22.06.2006 |
|
DIN No.: |
00220768 |
|
|
|
|
Name : |
Mr. Dinkerrai Bhikhubhai Desai |
|
Designation : |
Director |
|
Address : |
1/1, Vima Nagar, Satellite Road, Polytechnic, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
01.02.1941 |
|
Date of Appointment : |
22.07.2002 |
|
DIN No.: |
00254485 |
|
|
|
|
Name : |
Mr. Anant Narendra Shethji |
|
Designation : |
Whole-Time Director |
|
Address : |
2, Pratiksha Society, Opp. Vidhyakunj School, Gandevi Road, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
31.10.1976 |
|
Date of Appointment : |
22.07.2002 |
|
DIN No.: |
01267305 |
KEY EXECUTIVES
|
Name : |
Mr. Kapil Jadhav |
|
Designation : |
Application Manager |
MAJOR SHAREHOLDERS
As on 20.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Dinkerrai B. Desai |
|
3500 |
|
Vadana D. Joshi |
|
31000 |
|
Anant N. Shethji |
|
28050 |
|
Sarojben D. Desai |
|
15000 |
|
Sandeep D. Desai |
|
2500 |
|
Prakash J. Joshi |
|
10 |
|
Savitaben J. Joshi |
|
10 |
|
Kantibhai G. Naik |
|
100 |
|
Swatiben N. Shethji |
|
7500 |
|
Mital A. Shethji |
|
2500 |
|
Pranav N. Shethji |
|
10550 |
|
Dhwani P. Shethji |
|
11200 |
|
Hemant H. Desai |
|
100 |
|
Jayanti S. Vaidhya |
|
100 |
|
Dineshchandra K. Joshi |
|
67870 |
|
Shilpa Desai |
|
10 |
|
Chirag D. Joshi |
|
30000 |
|
Akash D. Joshi |
|
30000 |
|
Total |
|
240000 |
As on 20.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
95.00 |
|
Other top fifty shareholders |
5.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of
manufacturing marketing and trading of diagnostics reagents, diagnostics
instruments and allied products. |
|
|
|
|
Products : |
Digital Calorimeter |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers, End Users and OEMs
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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|
Auditors : |
|
|
Name : |
B. M. Saraf and Company Chartered Accountants |
|
Address : |
201, Swayam Complex, 9-B, Shreyas Colony, Stadium Circle, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
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PAN No.: |
ACYPS5884J |
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|
|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Sister Concern : |
Beacon Diagnostics Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
240000 |
Equity Shares |
Rs.10/- each |
Rs.2.400
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 |
2.400 |
2.400 |
2.400 |
|
(b) Reserves &
Surplus |
42.574 |
30.091 |
19.893 |
|
(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) |
44.974 |
32.491 |
22.293 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
5.082 |
4.705 |
5.841 |
|
(b) Deferred tax
liabilities (Net) |
0.438 |
0.387 |
0.420 |
|
(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) |
5.520 |
5.092 |
6.261 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
43.844 |
27.674 |
20.268 |
|
(b) Trade payables |
14.895 |
28.931 |
21.562 |
|
(c) Other current
liabilities |
4.519 |
3.802 |
4.259 |
|
(d) Short-term provisions |
16.330 |
13.047 |
9.231 |
|
Total Current Liabilities
(4) |
79.588 |
73.454 |
55.320 |
|
|
|
|
|
|
TOTAL |
130.082 |
111.037 |
83.874 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.391 |
9.444 |
8.166 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
11.391 |
9.444 |
8.166 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
22.960 |
32.533 |
22.215 |
|
(c) Trade receivables |
51.238 |
39.230 |
24.791 |
|
(d) Cash and cash
equivalents |
28.957 |
17.902 |
20.885 |
|
(e) Short-term loans and
advances |
15.536 |
11.928 |
7.817 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
118.691 |
101.593 |
75.708 |
|
|
|
|
|
|
TOTAL |
130.082 |
111.037 |
83.874 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
221.860 |
198.718 |
169.641 |
|
|
|
|
|
|
|
Less |
EXPENSES |
191.271 |
175.532 |
150.964 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
30.589 |
23.186 |
18.677 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
6.221 |
3.959 |
2.755 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
24.368 |
19.227 |
15.922 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.503 |
0.969 |
0.864 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
22.865 |
18.258 |
15.058 |
|
|
|
|
|
|
|
Less |
TAX |
7.574 |
5.967 |
4.952 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
15.291 |
12.291 |
10.106 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
1.529 |
1.229 |
1.005 |
|
|
Dividend |
2.400 |
1.800 |
1.200 |
|
|
Tax on Dividend |
0.408 |
0.292 |
0.195 |
|
|
Total |
4.337 |
3.321 |
2.400 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
10.954 |
8.970 |
7.706 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
94.691 |
96.970 |
82.629 |
|
|
TOTAL IMPORTS |
94.691 |
96.970 |
82.629 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
63.71 |
51.21 |
42.10 |
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 |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.89 |
6.19 |
5.96 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
13.79 |
11.67 |
11.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.58 |
16.44 |
17.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51 |
0.56 |
0.68 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09 |
1.00 |
1.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49 |
1.38 |
1.37 |
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 |
2.400 |
2.400 |
2.400 |
|
Reserves & Surplus |
19.893 |
30.091 |
42.574 |
|
Net worth |
22.293 |
32.491 |
44.974 |
|
|
|
|
|
|
long-term borrowings |
5.841 |
4.705 |
5.082 |
|
Short term borrowings |
20.268 |
27.674 |
43.844 |
|
Total borrowings |
26.109 |
32.379 |
48.926 |
|
Debt/Equity ratio |
1.171 |
0.997 |
1.088 |
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 |
169.641 |
198.718 |
221.860 |
|
|
|
17.140 |
11.646 |
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 |
169.641 |
198.718 |
221.860 |
|
Profit |
10.106 |
12.291 |
15.291 |
|
|
5.96% |
6.19% |
6.89% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS:
The Company achieved net sales and other income of Rs.221.860 Million,
as compared to previous year of Rs.198.718 Million. The increase in sales by
Rs.23.142 Million indicate the progress achieved by the company. The Company
has made operating profit before interest and depreciation of Rs.30.589 Million
as compared to previous year of Rs.23.186 Million and net profit before
depreciation and tax is Rs.24.368 Million as compared to previous year of
Rs.19.226 Million.
CORPORATE INFORMATION
Subject is private limited company domiciled
in India and incorporated under the provisions of the Companies Act, 1956. The Company
is engaged in the business of manufacturing marketing and trading of
diagnostics reagents, diagnostics instruments and allied products. The Company
caters only domestic markets.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deposits |
2.949 |
2.949 |
|
Total |
2.949 |
2.949 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10149579 |
20/12/2014 * |
52,500,000.00 |
BANK OF BARODA |
PANCH HATDI BRANCH, "BOB HOUSE", PANCH HATDI, NAVSARI - 396445, GUJARAT, INDIA |
C37747318 |
|
2 |
80006780 |
20/12/2014 * |
52,500,000.00 |
BANK OF BARODA |
PANCH HATDI BRANCH, "BOB HOUSE", PANCH HATDI, NAVSARI - 396445, GUJARAT, INDIA |
C37746559 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Electrical Installation
- Furniture and Fixtures
- Vehicles
- Motor Cars
- Office Equipment
- Computer
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.64.00 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.