MIRA INFORM REPORT
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Report No. : |
325708 |
|
Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARGOS INTERNATIONAL MARKETING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. F-1, 1st Floor, Shanti Nagar Co-Operative, Industrial Estate
Limited, Vakola, Santacruz (East), Mumbai – 400055, Maharashtra |
|
Tel. No.: |
91-22-30642000 (20 Line) |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.12.1998 |
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Com. Reg. No.: |
11-117498 |
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Capital
Investment / Paid-up Capital : |
Rs.3.300 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U51900MH1998PTC117498 |
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|
|
|
IEC No.: |
0398063443 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA21641E MUMA12959C |
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|
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PAN No.: [Permanent Account No.] |
AABCA7471P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader, Exporter and Importer of Polymer based packaging
material bulk drugs. |
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|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Subject is a trading company that deals in various industrial
products. Products range includes all types of polymer based Packaging
Materials, Aluminium Foils, Decorative Laminates, Chemicals, Bulk Drugs
(API’s) and Pharmaceutical Formulations. There appears some dip in the turnover and the company has also
incurred a loss during FY 2014. Rating also takes into consideration huge external
borrowing taken by the company which acts as threat to its liquidity
position. However, subject is a part of the KALPATARU Group of companies, which
has diverse business interests in the areas of real estate development, power
generation and transmission, gas pipelines, infrastructure, international
trading, pharmaceuticals and stationary. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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. Deepak Prabhu |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-22-30642000 |
|
Date : |
03.06.2015 |
LOCATIONS
|
Registered Office : |
Unit No. F-1, 1st Floor, Shanti Nagar Co-Operative, Industrial Estate Limited,
Vakola, Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Tel. No.: |
91-22-30642000 (20 Line) |
|
Fax No.: |
91-22-30642050 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
101, Kalpataru Synergy, 8th Floor, Opposite Grand Hyatt, Santacruz
(East), Mumbai – 400 055, Maharashtra, India |
|
|
|
|
Warehouse : |
Unit No N-4/5, Shree Rajlaxmi, Complex Agra Road Kalher Village, Bhiwandi, Thane-421302, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Rajesh Bhagchand Golechha |
|
Designation : |
Director |
|
Address : |
294/16, Kalpataru Horizon, S.K. Ahire Marg, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Date of Birth/Age : |
13.08.1964 |
|
Date of Appointment : |
17.12.1998 |
|
DIN No.: |
00037455 |
|
|
|
|
Name : |
Ms. Sudha Rajesh Golechha |
|
Designation : |
Director |
|
Address : |
294/16, Kalpataru Horizon, S.K. Ahire Marg, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Date of Birth/Age : |
25.11.1964 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
00646341 |
|
|
|
|
Name : |
Mr. Sanjay Ugamraj Daga |
|
Designation : |
Director |
|
Address : |
Flat No.2-C/113, Kalpataru Estate, Jvl Road, Near Majas Bus Depot, Andheri (East), Mumbai, 400093, Maharashtra, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
06450763 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Prabhu |
|
Designation : |
Senior Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Spruce Agro Farms Private Limited, India |
165000 |
50.00 |
|
Spruce Orchards Private Limited, India |
165000 |
50.00 |
|
Total |
330000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Exporter and Importer of Polymer based packaging
material bulk drugs. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Dubai |
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Terms : |
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Selling : |
Cash / L/C / Cheque / Credit |
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Purchasing : |
Cash / L/C / Cheque / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
MGB and Company Chartered Accountants |
|
Address : |
Jolly Bhavan 2, 1st Floor, 7, New Marine Lines, Churchgate,
Mumbai – 400 020, Maharashtra, India |
|
Tel. No.: |
91-22-66332330 |
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Fax No.: |
91-22-66351545 |
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E-Mail : |
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Website : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFM5742R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
Kalpataru Properties Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
330,000 |
Equity Shares |
Rs.10/- each |
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 |
2.500 |
|
(b) Reserves & Surplus |
6.296 |
6.556 |
5.542 |
|
(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) |
9.596 |
9.856 |
8.042 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6.023 |
1.237 |
0.353 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.052 |
0.258 |
0.489 |
|
(d) long-term
provisions |
0.452 |
0.742 |
0.483 |
|
Total Non-current
Liabilities (3) |
6.527 |
2.237 |
1.325 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
48.916 |
41.613 |
17.765 |
|
(b) Trade
payables |
77.354 |
43.019 |
50.448 |
|
(c) Other
current liabilities |
9.291 |
7.440 |
10.889 |
|
(d) Short-term
provisions |
0.368 |
0.112 |
0.027 |
|
Total Current
Liabilities (4) |
135.929 |
92.184 |
79.129 |
|
|
|
|
|
|
TOTAL |
152.052 |
104.277 |
88.496 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
13.117 |
5.978 |
5.371 |
|
(ii)
Intangible Assets |
0.199 |
0.557 |
0.714 |
|
(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) |
1.771 |
1.717 |
1.477 |
|
(d) Long-term Loan and Advances |
0.552 |
0.642 |
1.007 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
15.639 |
8.894 |
8.569 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
101.784 |
56.557 |
9.215 |
|
(c) Trade
receivables |
20.032 |
23.415 |
55.574 |
|
(d) Cash
and cash equivalents |
1.101 |
4.005 |
10.431 |
|
(e)
Short-term loans and advances |
12.857 |
11.082 |
4.330 |
|
(f) Other current
assets |
0.639 |
0.324 |
0.377 |
|
Total
Current Assets |
136.413 |
95.383 |
79.927 |
|
|
|
|
|
|
TOTAL |
152.052 |
104.277 |
88.496 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
272.479 |
381.575 |
327.397 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
272.792 |
382.561 |
330.063 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
(0.313) |
(0.986) |
(2.666) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.053) |
(0.240) |
(0.824) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(0.260) |
(0.746) |
(1.842) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.796 |
5.542 |
7.384 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4.536 |
4.796 |
5.542 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
15.298 |
23.762 |
49.108 |
|
|
TOTAL EARNINGS |
15.298 |
23.762 |
49.108 |
|
|
|
|
|
|
|
|
|
|
CIF Value of
Imports |
198.617 |
290.324 |
224.231 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.79) |
(2.92) |
(7.37) |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
660.000 |
|
|
|
|
Due to Increase
Import Activity |
The above information has been parted by Mr. Deepak Prabhu (Senior
Accounts Manager)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2.129 |
0.799 |
1.361 |
|
Cash generated from operations |
(3.247) |
(28.834) |
12.991 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
(0.10) |
(0.20) |
(0.56) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.21) |
(0.96) |
(3.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03) |
(0.10) |
(0.33) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.95 |
4.43 |
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
1.03 |
1.01 |
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 |
2.500 |
3.300 |
3.300 |
|
Reserves & Surplus |
5.542 |
6.556 |
6.296 |
|
Net
worth |
8.042 |
9.856 |
9.596 |
|
|
|
|
|
|
long-term borrowings |
0.353 |
1.237 |
6.023 |
|
Short term borrowings |
17.765 |
41.613 |
48.916 |
|
Current maturities of
long-term debts |
1.361 |
0.799 |
2.129 |
|
Total
borrowings |
19.479 |
43.649 |
57.068 |
|
Debt/Equity
ratio |
2.422 |
4.429 |
5.947 |
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 |
327.397 |
381.575 |
272.479 |
|
|
|
16.548 |
(28.591) |
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 |
327.397 |
381.575 |
272.479 |
|
Profit |
(1.842) |
(0.746) |
(0.260) |
|
|
(0.56%) |
(0.20%) |
(0.10%) |
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 four 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note:
The registered office of the company has been shifted from 101, Kalpataru
Synergy, Opposite Grand Hyatt, Santacruz (East), Mumbai – 400 055, Maharashtra,
India to the present address w.e.f. 30.03.2011.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loan from related party |
8.077 |
23.283 |
|
Other party |
10.229 |
0.000 |
|
Total |
18.306 |
23.283 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10351605 |
09/03/2013 * |
75,000,000.00 |
Axis Bank Limited |
Corporate Banking Branch, Axis House, Ground Floor |
B73705147 |
FIXED ASSETS
Tangible Assets
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
·
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.63.85 |
|
|
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.