MIRA INFORM REPORT
|
Report No. : |
326364 |
|
Report Date : |
10.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SDS RAMCIDES CROPSCIENCE PRIVATE LIMITED (W.e.f. 23.05.2013) |
|
|
|
|
Formerly Known
As : |
SREE RAMCIDES CHEMICALS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
7th Floor, VBC Solitaire, 47 and 49 Bazullah Road, T
Nagar, Chennai -600017, Tamilnadu |
|
Tel. No.: |
91-44-24345770 |
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|
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Country : |
India |
|
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.12.1994 |
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Com. Reg. No.: |
18-029550 |
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Capital
Investment / Paid-up Capital : |
Rs.81.986 Million |
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|
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CIN No.: [Company Identification
No.] |
U24117TN1994PTC029550 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACF3784N |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Fungicides herbicides and insecticides of
agrochemicals. |
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|
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|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
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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 having satisfactory track record. The company has performed well during FY 2014. It has shown growth in
its turnover and has achieved a fair profitability. 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 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.
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 |
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. Mohan |
|
Designation : |
Finance Department |
|
Contact No.: |
91-44-24345770 |
|
Date : |
08.06.2015 |
LOCATIONS
|
Registered Office : |
7th Floor, VBC Solitaire, 47 and 49 Bazullah Road, T
Nagar, Chennai -600017, Tamilnadu, India |
|
Tel. No.: |
91-44-24345770 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Factory : |
Located at
|
DIRECTORS
AS ON 22.07.2014
|
Name : |
Mr. Ramabadran Gopal |
|
Designation : |
Managing director |
|
Address : |
B 5, Shanti Naven, 139 Saint Marys Road, Alwarpet, Chennai
- 600018, Tamilnadu, India |
|
Date of Birth/Age : |
20.01.1956 |
|
Date of Appointment : |
15.12.2004 |
|
DIN No.: |
01713260 |
|
PAN No.: |
AHFPG6409B |
|
|
|
|
Name : |
Mr. Narasimhan Ramabadrachari |
|
Designation : |
Whole-time director |
|
Address : |
Block-B, Grn Promoters, Raffles City, II Floor, 11B,
Vijayaraghava Road I Street, T. Nagar, Chennai - 600017, Tamilnadu, India |
|
Date of Birth/Age : |
24.05.1948 |
|
Date of Appointment : |
15.12.2004 |
|
DIN No.: |
00982068 |
|
PAN No.: |
ACAPN3293Q |
|
|
|
|
Name : |
Mr. Kenichi Komatsubara |
|
Designation : |
Director |
|
Address : |
2319-1, Arakawahongou, Ami Machi, Inashiki Gun, Ibaraki
Ken, Ibaraki ken, NA, Japan |
|
Date of Birth/Age : |
02.10.1958 |
|
Date of Appointment : |
30.01.2013 |
|
DIN No.: |
06484275 |
|
|
|
|
Name : |
Mr. Susumu Izu |
|
Designation : |
Director |
|
Address : |
2-14-5 Nagauraekimae, Sodegaura-Shi, Chiba, Japan,
2990246, , Japan |
|
Date of Birth/Age : |
06.01.1962 |
|
Date of Appointment : |
30.05.2014 |
|
DIN No.: |
06879254 |
|
|
|
|
Name : |
Mr. Yoshihiko Fukazawa |
|
Designation : |
Director |
|
Address : |
308-54 Kanigaya, Takatsu-Ku, Kawasaki-Shi, Kanagawa,
Japan, 2130025 , Japan |
|
Date of Birth/Age : |
10.04.1957 |
|
Date of Appointment : |
30.05.2014 |
|
DIN No.: |
06879479 |
KEY EXECUTIVES
|
Name : |
Mr. Mohan |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Mr. K Balaji |
|
Designation : |
Secretary |
|
Address : |
15, SBI Officers QRTS 2, Ayyanavaram Road, Chennai -
600023, Tamilnadu, India |
|
Date of Birth/Age : |
29.06.1972 |
|
Date of Appointment : |
22.04.2013 |
|
DIN No.: |
AASPB2721M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.07.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
R. Narasimhan |
10744000 |
13.10 |
|
R. Padmanaban |
8785100 |
10.72 |
|
R. Gopal |
9166300 |
11.18 |
|
SDS Biotech K.K |
53290944 |
65.00 |
|
Total |
81986344 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 22.07.2014
|
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 |
65.00 |
|
Directors or relatives of Directors |
35.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fungicides herbicides and insecticides of
agrochemicals. |
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Products : |
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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 : |
Not Divulged |
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Countries : |
Africa Countries |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
B S R and Company Chartered Accountant |
|
Address : |
No.10, Mahatma Gandhi Road, Numbambakkam, Chennai – 600034, Tamilnadu, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFD7357B |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
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Ultimate Holding
Company: |
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Enterprises over
which key management personnel or their relatives are
able to exercise control or significant influence: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Re.1/- each |
Rs. 120.000 Million |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81986344 |
Equity Shares |
Re.1/- each |
Rs. 81.986
Million |
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|
|
|
|
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 |
81.986 |
81.986 |
84.147 |
|
(b) Reserves & Surplus |
350.836 |
275.986 |
315.170 |
|
(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) |
432.822 |
357.972 |
399.317 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24.000 |
0.000 |
0.202 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.165 |
0.000 |
0.000 |
|
(d) long-term provisions |
17.123 |
8.132 |
6.014 |
|
Total
Non-current Liabilities (3) |
41.288 |
8.132 |
6.216 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1045.816 |
504.262 |
415.871 |
|
(b) Trade payables |
352.615 |
123.979 |
197.136 |
|
(c) Other current liabilities |
94.439 |
73.924 |
77.740 |
|
(d) Short-term provisions |
198.540 |
63.394 |
23.353 |
|
Total
Current Liabilities (4) |
1691.410 |
765.559 |
714.100 |
|
|
|
|
|
|
TOTAL |
2165.520 |
1131.663 |
1119.633 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
209.278 |
180.903 |
179.251 |
|
(ii) Intangible Assets |
7.290 |
7.003 |
9.734 |
|
(iii) Capital work-in-progress |
2.279 |
0.676 |
5.404 |
|
(iv) Intangible assets under
development |
8.095 |
8.103 |
4.868 |
|
(b) Non-current Investments |
0.076 |
0.076 |
18.576 |
|
(c) Deferred tax assets (net) |
65.028 |
31.039 |
11.368 |
|
(d) Long-term Loan and Advances |
66.706 |
49.341 |
24.863 |
|
(e) Other Non-current assets |
1.167 |
0.030 |
3.707 |
|
Total
Non-Current Assets |
359.919 |
277.171 |
257.771 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
572.140 |
291.528 |
365.164 |
|
(c) Trade receivables |
1080.738 |
483.399 |
408.937 |
|
(d) Cash and cash equivalents |
92.369 |
50.548 |
66.335 |
|
(e) Short-term loans and
advances |
47.764 |
28.057 |
20.468 |
|
(f) Other current assets |
12.590 |
0.960 |
0.958 |
|
Total
Current Assets |
1805.601 |
854.492 |
861.862 |
|
|
|
|
|
|
TOTAL |
2165.520 |
1131.663 |
1119.633 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Turnover |
1838.700 |
1064.200 |
1090.000 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
202.600 |
20.800 |
24.100 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
100.200 |
(58.300) |
(52.500) |
|
|
|
|
|
|
|
Less |
TAX |
25.300 |
(17.000 |
(19.400) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
74.900 |
(41.300) |
(33.100) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Exports on FOB basis |
56.883 |
NA |
NA |
|
|
TOTAL
EARNINGS |
56.883 |
NA |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
168.016 |
NA |
NA |
|
|
TOTAL
IMPORTS |
168.016 |
NA |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.91 |
NA |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2500.000 |
Expected Sales (2015-2016) : Rs.3250.000 Million
The above information has been parted by Mr. Mohan
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.193 |
1.457 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.79 |
(5.34) |
(4.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
(0.16) |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.47 |
1.41 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.12 |
1.21 |
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 |
84.147 |
81.986 |
81.986 |
|
Reserves & Surplus |
315.170 |
275.986 |
350.836 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
399.317 |
357.972 |
432.822 |
|
|
|
|
|
|
long-term borrowings |
0.202 |
0.000 |
24.000 |
|
Short term borrowings |
415.871 |
504.262 |
1045.816 |
|
Current Maturities Of Long-Term
Debts |
1.457 |
0.193 |
0.000 |
|
Total
borrowings |
417.530 |
504.455 |
1069.816 |
|
Debt/Equity
ratio |
1.046 |
1.409 |
2.472 |
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) |
|
Turnover |
1090.000 |
1064.200 |
1838.700 |
|
|
|
(2.367) |
72.778 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
1090.000 |
1064.200 |
1838.700 |
|
Profit |
(33.100) |
(41.300) |
74.900 |
|
|
(3.04%) |
(3.88%) |
4.07% |
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 |
Yes |
|
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 |
Yes |
|
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 |
NOTE: Registered office of the company has been
shifted from No.7, Doraiswamy Road, T Nagar, Madras – 600017, Tamilnadu, India to the present address w.e.f. 26.03.2014
PERFORMANCE
The year has seen a good growth in the business performance of the Company. The Company registered a turnover of Rs 1838.700 Million (net of duties and taxes) as compared to Rs 1064.200 Million in 2012-13 recording an impressive growth of 73% over the last year. In terms of profit, the Company has registered profits after a gap of four years recording a profit before tax of Rs 100.200 Million as against a loss of Rs 58.400 Million in the previous year. The Directors wish to place on record the efforts put in by all the stakeholders including the employees of the Company for this commendable performance.
BUSINESS OPERATIONS
While they continue to push Allwin series products sales, especially Wonder and Top, introduction of Eliixer seem to be getting much better response because of the ease with which farmers are used to such products. Very likely that AllwinEliixer may grab a sizable market share in coming years. Another interesting fact is the aggressive growth of Generics sales with better contribution.
Co-marketing arrangements with Rallis India Limited and Makteshim Agan Limited are also adding sizable value to address niche segments thereby creating better perception for SDS Ramcides among farmers. Going forward, they shall pursue such arrangements with more attention so that they have a completebas k et of products that their distribu to rs would seek.
They continue to maintain highest standard of safety at their plants. They produced 2,350 KL liquids, 2,203 Mts of Powder and3,464 Mts of Granules during the year 2013-14. Suspension Concentrate ( SC ) plant commissioned during the previous year at their Pudukkottai factory is delivering the expected benefits and their profitability on such products is better now. Volumes have also grown to 185 KL.
They have started to register new sources for Technical import from China and Taiwan as they firmly believe that this process will help us to keep raw material cost in control in future and this will enable us to start trading in Technical material in future, which is one segment that has helped most other peer group to grow faster.
COMPANY OVERVIEW
Subject a Chennai based, agro solutions company with presence in both the crop protection and crop health segment for more than 35 years. The Company's three manufacturing facilities at Pudukottai, Chennai and Jammu are engaged in the manufacture of agro inputs such as herbicides, insecticides, fungicides, etc., and plant nutrients across various crops all over India and in more than 10 countries. Pursuant to the Share Purchase Agreement dated December 5, 2012 ('SPA') and Shareholders' Agreement dated December 5, 2012 ('SHA') entered into between M/s e-Planet Ventures Mauritius Limited along with the minority shareholders of the Company and M/s SDS Biotech K.K, Japan, 53,290,944 equity shares of Re. 1 each fully paid up have been transferred to M/s SDS Biotech K.K, Japan. Consequent to the said share transfer, the Company has become the subsidiary of M/s SDS Biotech K.K, Japan. The ultimate holding company of SDS Biotech K.K, Japan is Idemitsu Kosan Group, Japan. During the current year, the name of the Company has been changed from 'Sree Ramcides Chemicals Private Limited' to 'SDS Ramcides CropScience Private Limited'.
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
495.000 |
200.000 |
|
Loans repayable on demand from banks |
550.816 |
304.262 |
|
Total |
1045.816 |
504.262 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90294220 |
19/12/2011 * |
404,000,000.00 |
STATE BANK OF INDIA |
LEATHER &
INTERNATIONAL BRANCH, "MVJ TOWERS, NO.1 |
B30810881 |
|
2 |
90294725 |
21/06/2005 * |
61,000,000.00 |
STATE BANK OF INDIA |
SIRUTHOZHIL BRANCH,
CHENNAI, TAMIL NADU - 600034, |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Office equipment
- Computer equipments
- Other equipments
- Leasehold improvements
Intangible assets
- Computer software
- Patents
- Recipes
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.63.94 |
|
UK Pound |
1 |
Rs.98.27 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
45 |
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.