MIRA INFORM REPORT
|
Report No. : |
324550 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
INNOVASSYNTH TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
Old Mumbai – Pune Road, Khopoli – 410203, Maharashtra |
|
Tel. No.: |
91-2192-260100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.12.2001 |
|
|
|
|
Com. Reg. No.: |
11-134105 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 750.214 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH2001PLC134105 |
|
|
|
|
IEC No.: |
0301070075 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAC18899L |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Subject is engaged in the business of customs synthesis, contract research and manufacturing of specialty chemicals, toll manufacture of chemicals and similar businesses. |
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|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. There appear some accumulated losses recorded by the company. However, during FY 2014, total revenue increased by 27% from Rs.
531.300 Million to Rs. 674.000 Million. Company has posted a net profit of
Rs. 15.100 Million compared to the net loss of Rs. 35.900 Million in the
previous year. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. Subject can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = CRISIL B |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
May 16, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = CRISIL A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
May 16, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 (Tel. No.: 91-2192-260100)
LOCATIONS
|
Registered / Corporate Office/ Factory : |
Old Mumbai-Pune Road, Khopoli, District Raigad – 410203, Maharashtra,
India |
|
Tel. No.: |
91-2192-260100 |
|
Fax No.: |
91-2192-263628 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Shyam Bhupatirai Ghia |
|
Designation : |
Chairman |
|
Address : |
|
|
Date of Birth/Age : |
22.11.1947 |
|
Date of Appointment : |
02.12.2002 |
|
DIN No.: |
00005264 |
|
|
|
|
Name : |
Dr. Balkrishna Kulkarni |
|
Designation : |
Whole Time Functional Director |
|
Address : |
Locl, Colony, Khopoli – 410203, Raigad District, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1957 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
00209210 |
|
|
|
|
Name : |
Mr. Viren Raheja |
|
Designation : |
Director |
|
Address : |
“Rahejas” 87/1, GB Marg, Juhu, Mumbai – 400049, |
|
Date of Birth/Age : |
13.06.1984 |
|
Date of Appointment : |
25.06.2008 |
|
DIN No.: |
00037592 |
|
|
|
|
Name : |
Ramasubramanian Kuppusubramanian |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
403, Patel New Building Opposite Patel Engg. Limited, Patel Estate,
Jogeshwari (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1942 |
|
Date of Appointment : |
29.06.2012 |
|
DIN No.: |
01623890 |
|
|
|
|
Name : |
Mr. Vivek Ramkishan Kejriwal |
|
Designation : |
Director |
|
Address : |
13.10.1981 |
|
Date of Birth/Age : |
Link Garden Tower No. 3, Flat no. 33-34, Near Millat Nagar, New Link
Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Appointment : |
28.05.2009 |
|
DIN No.: |
02667374 |
KEY EXECUTIVES
|
Name : |
Sakshi Rajendra Bakshi |
|
Designation : |
Secretary |
|
Address : |
C/4-12, Gangapuram Co-Operative Society, Viman Nagar, Pune – 411014,
Maharashtra, India |
|
Date of Birth/Age : |
19.06.1986 |
|
Date of Appointment : |
30.06.2014 |
|
PAN No.: |
BMSPB3729E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
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 |
47.50 |
|
Bodies corporate |
51.11 |
|
Other top fifty shareholders |
1.39 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of customs synthesis, contract
research and manufacturing of specialty chemicals, toll manufacture of
chemicals and similar businesses. |
|
|
|
|
Products : |
Not Divulged |
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|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
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Banking Relations
: |
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|
|
|
|
Auditors : |
|
|
Name : |
N. M. Raiji and Company Chartered Accountants |
|
Address : |
MUMBAI,
Maharashtra, India |
|
PAN No.: |
AAAFN4217G |
|
|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76000000 |
Equity Shares |
Rs.10/- each |
Rs. 760.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75021351 |
Equity Shares |
Rs.10/- each |
Rs. 750.214
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 |
750.214 |
750.214 |
750.214 |
|
(b) Reserves & Surplus |
(27.636) |
(42.763) |
(6.898) |
|
(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) |
722.578 |
707.451 |
743.316 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
143.750 |
203.250 |
256.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
1.230 |
2.460 |
|
(d) long-term
provisions |
16.238 |
20.140 |
20.280 |
|
Total Non-current
Liabilities (3) |
159.988 |
224.620 |
279.240 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
247.500 |
260.289 |
217.685 |
|
(b) Trade
payables |
125.035 |
101.156 |
111.450 |
|
(c) Other current
liabilities |
248.538 |
165.209 |
164.204 |
|
(d) Short-term
provisions |
11.812 |
6.283 |
32.667 |
|
Total Current
Liabilities (4) |
632.885 |
532.937 |
526.006 |
|
|
|
|
|
|
TOTAL |
1515.451 |
1465.008 |
1548.562 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
680.524 |
698.668 |
766.618 |
|
(ii)
Intangible Assets |
134.797 |
141.606 |
155.190 |
|
(iii)
Capital work-in-progress |
3.686 |
1.143 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
7.072 |
0.000 |
|
(b) Non-current Investments |
15.900 |
15.900 |
15.900 |
|
(c) Deferred tax assets (net) |
257.545 |
270.505 |
273.140 |
|
(d) Long-term Loan and Advances |
3.682 |
7.595 |
6.119 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.027 |
|
Total Non-Current
Assets |
1096.134 |
1142.489 |
1216.994 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
196.700 |
179.183 |
188.320 |
|
(c) Trade
receivables |
64.096 |
63.237 |
88.199 |
|
(d) Cash
and cash equivalents |
26.789 |
24.638 |
21.720 |
|
(e)
Short-term loans and advances |
91.365 |
55.319 |
33.001 |
|
(f) Other
current assets |
40.367 |
0.142 |
0.328 |
|
Total
Current Assets |
419.317 |
322.519 |
331.568 |
|
|
|
|
|
|
TOTAL |
1515.451 |
1465.008 |
1548.562 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
673.964 |
531.287 |
507.085 |
|
|
|
Other Income |
6.613 |
37.102 |
66.602 |
|
|
|
TOTAL |
680.577 |
568.389 |
573.687 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
277.557 |
221.192 |
234.145 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(12.592) |
(13.395) |
(10.271) |
|
|
|
Employees benefits expense |
95.559 |
92.600 |
96.521 |
|
|
|
Other expenses |
169.000 |
174.144 |
182.256 |
|
|
|
Exceptional Items |
17.507 |
0.000 |
0.000 |
|
|
|
Extraordinary Items |
0.000 |
0.000 |
-10.343 |
|
|
|
TOTAL |
547.031 |
474.541 |
492.308 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
133.546 |
93.848 |
81.379 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
46.746 |
56.019 |
58.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
86.800 |
37.829 |
23.185 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
58.712 |
71.059 |
70.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
28.088 |
(33.230) |
(47.353) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.961 |
2.635 |
10.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
15.127 |
(35.865) |
(58.347) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
635.987 |
492.952 |
488.819 |
|
|
TOTAL EARNINGS |
635.987 |
492.952 |
488.819 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
127.169 |
101.088 |
106.439 |
|
|
|
Stores & Spares |
0.909 |
0.336 |
0.759 |
|
|
|
Capital Goods |
0.000 |
0.000 |
3.141 |
|
|
TOTAL IMPORTS |
128.078 |
101.424 |
110.339 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.20 |
(0.47) |
(0.78) |
|
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.24 |
(6.75) |
(11.51) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.82 |
17.66 |
16.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.27 |
(2.84) |
(3.76) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
(0.05) |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54 |
0.66 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.61 |
0.63 |
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 |
750.214 |
750.214 |
750.214 |
|
Reserves & Surplus |
(6.898) |
(42.763) |
(27.636) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
743.316 |
707.451 |
722.578 |
|
|
|
|
|
|
long-term borrowings |
256.500 |
203.250 |
143.750 |
|
Short term borrowings |
217.685 |
260.289 |
247.500 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
474.185 |
463.539 |
391.250 |
|
Debt/Equity
ratio |
0.638 |
0.655 |
0.541 |
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 |
507.085 |
531.287 |
673.964 |
|
|
|
4.773 |
26.855 |
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 |
507.085 |
531.287 |
673.964 |
|
Profit |
(58.347) |
(35.865) |
15.127 |
|
|
(11.51%) |
(6.75%) |
2.24% |
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 |
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 |
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 |
Yes |
|
33 |
Market information |
----- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Paragon Condominium, 3rd Floor, Pandurang Budhkar Marg, Mumbai – 400013, Maharashtra, India to the present address w.e.f. 03.05.2013.
LITIGATION
DETAILS:
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
|
|
Main
Matter Reg. No.:- SS/2522/2011
Reg. Date :- 02/10/2011 |
|
LTD.-
Petn. Adv : S.P. SRIVASTAVA AND RAHUL KARNIK (0) District: MUMBAI |
|
Status: Transferred
Category: OTHER MONEY SUITS Transfer Date: 03/10/2012 Remark: TRANSFERRED
TO CITY CIVIL COURT |
|
Act: Code of Civil Procedure 1908
|
OPERATIONS
During the year Company's Operating and Financial Performance has improved quite considerably. Total revenues increased by 27% from Rs 531.300 Million to Rs 674.000 Million. Company has posted a Net Profit of Rs.15.100 Million compared to the Net Loss of Rs. 35.900 Million in the previous year. The better Operational results is due to Increased Volume of Business and better operational Management. Order Book Position is improving further and we expect the current trend of improvement to continue in the coming years as well.
NATURE OF OPERATION
(As on 31.03.2013)
The Company is engaged in the business of customs synthesis, contract research and manufacturing of speciality chemicals, toll manufacture of chemicals and similar businesses. Hence, the company is engaged in several diverse activities which cannot be benchmarked to any industry.
The Company is currently engaged in both contract research and development for product groups like protected nucleosides, phosphoramidites and amino acids, intermediates for active Pharma ingredients, speciality carbohydrate derivatives, metalocene compound etc. The Companys focus on nucleosides and amidites has made it one among the top few companies engaged in this activity in the world. The Company manufactures various products specifically against orders received from its customers.
The Company also has a long term manufacturing contract since 2001 with Ciba Speciality Chemicals/BASF, Switzerland for manufacture of a speciality product. This has been one of the major manufacturing activities of the Company since its inception.
The Company has developed hundreds of molecules for several of its internationally well known clients. Last eight years of hard work and presentation of companys technical capabilities have resulted in well known chemical and pharma MNCs accepting Companys status as a quality Research and Development company especially in several new areas.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Rupee term loan from others |
100.000 |
122.000 |
|
SHORT TERM BORROWING |
|
|
|
Other loans and advances |
36.817 |
42.536 |
|
Intercorporate deposits |
0.000 |
15.000 |
|
Total |
136.817 |
179.536 |
|
|
|
|
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10531441 |
04/04/2015 * |
71,875,000.00 |
YES BANK LIMITED |
25TH FLOOR, TOWER II, INDIABULLS FINANCE CENTRE, SENAPATI BAPAT MARG, ELPHINSTONE ROAD (W), MUMBAI, Maharashtra - 400013, INDIA |
C49270705 |
|
2 |
10531442 |
04/04/2015 * |
90,000,000.00 |
YES BANK LIMITED |
25TH FLOOR, TOWER II, INDIABULLS FINANCE CENTRE, SENAPATI BAPAT MARG, ELPHINSTONE ROAD (W), MUMBAI , Maharashtra - 400013, INDIA |
C49272495 |
|
3 |
10386825 |
20/12/2014 * |
300,000,000.00 |
Axis Bank Limited |
CORPORATE BANKING BRANCH, AXIS HOUSE,GR. FLR., BOMBAY DYEING MILLS COMPOUND, P.B. MARG, WORLI, MUMBAI, Maharashtra - 400025, INDIA |
C40285249 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and
Equipments
- Factory
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.83 |
|
UK Pound |
1 |
Rs. 97.10 |
|
Euro |
1 |
Rs. 69.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
REK |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.