MIRA INFORM REPORT

 

 

Report No. :

325765

Report Date :

05.06.2015

 

IDENTIFICATION DETAILS

 

Name :

NEXT POLYMERS LIMITED

 

 

Registered Office :

Office No. 31, 2nd Floor, 11, Ovalwadi, Vithalwadi, Mumbai -400004, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.08.2006

 

 

Com. Reg. No.:

11-163933

 

 

Capital Investment / Paid-up Capital :

Rs.2.471 Million

 

 

CIN No.:

[Company Identification No.]

U25209MH2006PLC163933

 

 

IEC No.:

0306076438

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCN3555E

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturing of Engineering Plastics Compounds

 

 

No. of Employees :

116 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The company is progressing well. It has achieved a fair profitability. General financial position of the company is normal and acceptable for business dealings.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct.

 

The company can be considered normal for business 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

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. Davesh Lakhani

Designation :

Chartered Accountant

Contact No.:

91-22-44244424

Date :

04.06.2015

 

 

LOCATIONS

 

Registered Office :

Office No. 31, 2nd Floor, 11, Ovalwadi, Vithalwadi, Mumbai -400004, Maharashtra, India

Tel. No.:

91-22-44244424

Fax No.:

91-22-44244400

E-Mail :

accounts@jppolymers.in

admin@cmgco.net

Website :

www.nextpolymers.co.in

Location :

Rented

 

 

Head Office :

Unit 215, The Western Edge Ii Premises Co-Operative Society Limited ,Magathane, Borivali (East), Mumbai – 400 066, Maharashtra, India

E-Mail :

mail@nextpolymers.co.in

Area :

2718 Sq. ft.

Location :

Owned

 

 

Factory 1 :

Plot No. 8 and 9, Danudyog Induatrial Estate, Silvassa – 396230, Dadra and Nagar Haveli, (U.T.) India

Area :

17222.26 Sq. ft.

Location :

Owned

 

 

Factory 2 :

Survey No. 275/2/2, Unit -II, Dadra, D and Nh

Area :

46459.73 Sq. Ft.

Location :

Owned

 

 

Factory 3 :

Survey No. 274 / 2 and 275 / 2, Village Velugam, Surangi Velugam, Silvassa – 396230, India

Area :

547883.00 Sq. Ft.

Location :

Owned

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Jiten Prataprai Mathuria

Designation :

Director

Address :

A-1702, Panchsheel Heights, A&B CHS, Mahavir Nagar, Kandivali (West), Mumbai-400067, Maharashtra, India

Date of Birth/Age :

16.07.1973

Experience :

22 Years

Date of Appointment :

21.08.2006

DIN No.:

00297090

 

 

Name :

Mr. Rishabh Rameshchandra Jain

Designation :

Director

Address :

Flat No. 1002, Kumar Sophoronia, Near Abza Tower, Shree Aadeshwar Bhagwan Marg, Byculla (East), Mumbai-400027, Maharashtra, India

Date of Birth/Age :

16.04.1984

Experience :

12 Years

Date of Appointment :

21.08.2006

DIN No.:

00549482

 

 

Name :

Mr. Prataprai Pranjivandas Mathuria

Designation :

Director

Address :

A/1702, Panchsheel Heights, Mahavir Nagar, Kandivali (West), Mumbai-400067, Maharashtra, India

Date of Birth/Age :

27.06.1943

Experience :

45 Years

Date of Appointment :

01.12.2010

DIN No.:

01240485

 

 

Name :

Mr. Rameshchandra Devichand Jain

Designation :

Director

Address :

Flat No 1002, 10th Floor, Kumar Sophoronia, Near Rani Baug,Alster Road, Byculla, Mumbai-400027, Maharashtra, INDIA

Date of Birth/Age :

01.01.1951

Experience :

45 Years

Date of Appointment :

21.08.2006

DIN No.:

01542548

 

 

KEY EXECUTIVES

 

Name :

Mr. Davesh Lakhani

Designation :

Chartered Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Jiten Prataprai Mathuria

 

59750

Rameshchandra Devichand Jain

 

120650

Rishabh Rameshchandra Jain

 

21000

Prataprai Pranjivandas Mathuria

 

12500

Jitendra R. Jain

 

19800

Rameshchandra Devichand Jain HUF

 

100

Jitendra R. Jain HUF

 

100

Mita J Mathuria

 

2500

Manjula R. Jain

 

8100

Mamta J. Jain

 

100

Kinal R. Jain

 

100

Ahok Morakhia

 

1000

Bharat Mathuria

 

1400

 

 

 

Total

 

247100

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Engineering Plastics Compounds

 

 

Products :
  • Nylon 6 – Natural Lubricated, Colored and Compounded
  • Nylon 66 – Natural Lubricated, Colored and Compounded
  • Polycarbonate - Colored and Compounded
  • ABS - Colored and Compounded
  • Acrylic PMMA - Colored
  • Nylon 12 / PPS – Modified Compounds

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • Nylon 6
  • Nylon 66
  • Polycarbonate
  • ABS

Countries :
  • Kingdom of Saudi Arabia (KSA),
  • Russia
  • Sri Lanka

 

 

Imports :

 

Products :
  • Nylon 6
  • Nylon 66
  • Polycarbonate
  • ABS
  • Acrylic
  • LCP
  • Glass Fiber
  • Impact Modifier
  • LLDPE
  • GPPS

Countries :
  • Netherlands
  • United States of America
  • Singapore
  • China
  • Malaysia

 

 

Terms :

 

Selling :

L/C

 

 

Purchasing :

L/C

 

PRODUCTION STATUS NOT AVAILABLE

 

Particulars

 

Installed Capacity

(in Metric Tones)

Actual Production

(in Kgs)

ABS COMPOUND

 

 

 

8400

769318.14

ACRYLIC COMPOUND

 

52076.90

NYLON COMPOUND

 

5291000.45

LCP COMPOUND

 

19961.64

PC COMPOUND

 

394337.40

PP COMPOUND

 

19497.40

Others

 

18343.10

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

116 (Approximately) 

 

 

Bankers :

Bank Name

Yes Bank Limited

Branch

Silvassa, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Fund Based Rs.30.000 Million

Non fund Based Rs.30.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Bank Name

The Shamrao Vithal Co-Op. Bank Limited

Branch

47/A, S.M. House, Lourdes Colony,

Orlem, Malad (West), Mumbai - 400064, Maharashtra, INDIA

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Fund Based Rs.150.000 Million

Non fund Based Rs.70.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loans from Banks

 

 

SVCB Term loan TL/BL/425

0.080

1.960

SVCB Term loan TL/BL/440

6.171

9.571

SVCB Term loan TL/BL/442

3.379

5.224

SVCB Term loan TL/BL/467

13.045

15.129

 

0

 

Term loans from others

0

 

Kotak Mahindra Prime Limited (Car Loan- Skoda)

0.000

0.138

Kotak Mahindra Prime Limited (Toyota Etios-Loan)

0.021

0.254

Total

22.696

32.276

 

 

 

Short-term Borrowings

 

 

Loans repayable on demand from banks

 

 

SVCB Bank of Baroda- ECB

0.000

25.349

The Shamrao Vithal Co-Op. Bank Limited CC-30

122.701

100.340

Yes Bank Limited

27.177

0.000

 

 

 

Total

149.878

125.689

 

Auditors :

 

Name :

C. M. Gabhawala and Comapny

Chartered Accountants

Address :

42, Nanik Niwas, 30, Dr. D. D. Sathe Marg, Girgaum, Mumbai – 400 004

Tel. No.:

91-22-2388 0101 / 2382 3923

Fax No.:

91-22-2385 0931

E-Mail :

admin@cmgco.net

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFC1255D

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises under the control of key Managerial Personnel :
  • J P Polymers Private Limited
  • J P Plaschem 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 and Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

247,100

Equity Shares

Rs.10/- each

Rs.2.471 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

2.471

2.471

2.471

(b) Reserves and Surplus

134.737

98.071

65.311

(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)

137.208

100.542

67.782

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

109.307

89.583

76.954

(b) Deferred tax liabilities (Net)

1.669

1.141

0.550

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.903

0.810

0.000

Total Non-current Liabilities (3)

111.879

91.534

77.504

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

149.878

125.690

161.145

(b) Trade payables

112.021

110.968

106.347

(c) Other current liabilities

44.114

45.102

28.838

(d) Short-term provisions

6.788

6.371

1.785

Total Current Liabilities (4)

312.801

288.131

298.115

 

 

 

 

TOTAL

561.888

480.207

443.401

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

104.784

107.654

79.440

(ii) Intangible Assets

0.050

0.084

0.065

(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

0.500

0.500

0.500

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

29.541

21.167

9.277

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

134.875

129.405

89.282

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

218.390

164.739

156.202

(c) Trade receivables

182.984

151.370

159.788

(d) Cash and cash equivalents

6.829

19.013

20.283

(e) Short-term loans and advances

14.129

15.500

15.148

(f) Other current assets

4.681

0.180

2.698

Total Current Assets

427.013

350.802

354.119

 

 

 

 

TOTAL

561.888

480.207

443.401

 

 

PROFIT and LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

865.760

815.013

688.478

 

Other Income

3.371

3.131

3.343

 

TOTAL (A)

869.131

818.144

691.821

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

644.008

616.863

572.980

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(7.898)

(13.048)

(23.759)

 

Employees benefits expense

43.180

39.297

26.118

 

Other expenses

94.366

82.368

58.825

 

TOTAL (B)

773.656

725.480

634.164

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

95.475

92.664

57.657

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

27.699

26.268

26.317

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

67.776

66.396

31.340

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

12.539

11.730

8.053

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

55.237

54.666

23.287

 

 

 

 

 

Less

TAX (H)

18.572

21.906

8.107

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

36.665

32.760

15.180

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

148.38

132.58

61.43

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

14.690

16.298

14.431

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

4.24

4.02

2.20

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

11.03

11.37

8.37

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.84

11.40

5.26

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.40

0.54

0.34

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.00

2.30

3.73

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.37

1.22

1.19

 

 

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

2.471

2.471

2.471

Reserves & Surplus

65.311

98.071

134.737

Net worth

67.782

100.542

137.208

 

 

 

 

long-term borrowings

76.954

89.583

109.307

Short term borrowings

161.145

125.690

149.878

Current maturities of long-term debts

14.431

16.298

14.690

Total borrowings

252.530

231.571

273.875

Debt/Equity ratio

3.726

2.303

1.996

 

 

 

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

688.478

815.013

865.760

 

 

18.379

6.227

 

 

 

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

688.478

815.013

865.760

Profit

15.180

32.760

36.665

 

2.20%

4.02%

4.24%

 

 

 

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

Yes

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

Yes

19

Major customers

Yes

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

 

 

 

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans and advances from related parties

71.611

47.696

Other loans and advance

0

0

Magma Finacorp. Limited (Business Loan)

0.000

0.111

M. Rakesh and Company

0.000

1.000

Rasiklal Kantilal and Company

15.000

8.000

Rina Bharat Virani

0.000

0.500

Total

86.611

57.307

 

 

INDEX OF CHARGES

 

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10567160

11/04/2015

24,300,000.00

DEUTSCHE BANK AG

P.O. BOX NO. 9080, GOREGAON (EAST), MUMBAI, Mahar 
ashtra - 400063, INDIA

C52358223

2

10519540

23/08/2014

88,900,000.00

Shamrao Vithal Co-operative Bank Limited

47/A S M House Lourdes Colony,, Orlem, Malad (Wes 
t)., Mumbai, Maharashtra - 400064, INDIA

C20268918

3

10519391

22/08/2014

160,000,000.00

Shamrao Vithal Co-operative Bank Limited

47/A S M House Lourdes Colony,, Orlem, Malad (Wes 
t)., Mumbai, Maharashtra - 400064, INDIA

C20142279

4

10488985

10/04/2014

10,000,000.00

The Shamrao Vitthal Co-operative Bank Ltd.

The Shamrao Vitthal Co-operative Bank Ltd., Orlem 
, Malad (West),, Mumbai, Maharashtra - 400064, IND 
IA

C03052859

5

10437429

19/06/2013

60,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. 
ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 
400018, INDIA

B79857371

6

10424120

02/07/2014 *

60,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. 
ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 
400018, INDIA

C10088292

7

10391618

10/11/2012

67,900,000.00

The Shamrao Vithal Co-operative Bank Ltd.

47/A, S.M. House, Lourdes Colony,, Orlem, Malad ( 
West), Mumbai, Maharashtra - 400064, INDIA

B63988836

8

10087795

27/03/2014 *

292,440,000.00

The Shamrao Vitthal Co-operative Bank Ltd.

The Shamrao Vitthal Co-operative Bank Ltd., Orlem 
, Malad (West),, Mumbai, Maharashtra - 400064, IND 
IA

C03048832

9

10265213

10/04/2014 *

342,040,000.00

The Shamrao Vitthal Co-operative Bank Ltd.

The Shamrao Vitthal Co-operative Bank Ltd., Orlem 
, Malad (West),, Mumbai, Maharashtra - 400064, IND 
IA

C03100955

 

 

 

 

CMT REPORT (Corruption, Money Laundering and 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.69.18

UK Pound

1

Rs.98.30

Euro

1

Rs.72.25

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYTK

 

SCORE and 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

6

--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

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

 

47

 

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 and 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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.