MIRA INFORM REPORT
|
Report No. : |
326948 |
|
Report Date : |
12.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
MYLAN LABORATORIES LIMITED (w.e.f. 05.10.2011) |
|
|
|
|
Formerly Known
As : |
MATRIX LABORATORIES LIMITTED |
|
|
|
|
Registered Office
: |
Plot No.564/A/22 Road No.92, Jubilee Hills, Hyderabad – 500033,
Telangana |
|
Tel No. : |
91-40-30496666 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.11.1984 |
|
|
|
|
Com. Reg. No.: |
01-005146 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.369.510 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231TG1984PLC005146 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM02247A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM3491M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Ingredients. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 120000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of Mylan Inc, USA. It is an established company
having fine track record. The company has seen a better improvement in its sales volume as well
as net profitability during 2014. Financial as well as liquidity position
appears to be strong and healthy. Further, the company successfully maintains strong research and
development capabilities and low cost manufacturing base. The ratings also take into consideration increasing competition in the
international generics market. However, trade relations are fair. Business is active. Payment terms
are reported as regular and as per commitments. In view of strong business profile and its established market
position, the subject can be considered good 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 |
CRISIL |
|
Rating |
AA- (Long Term Rating) |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
07.02.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Debt) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
07.02.2015 |
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. Sachin |
|
Designation |
Finance Department |
|
Contact No.: |
91-40-30496666 |
|
Date : |
10.06.2015 |
LOCATIONS
|
Registered Office : |
Plot No.564/A/22 Road No.92, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-30496666 / 23550543 |
|
Fax No.: |
91-40-27700343 / 30866699 |
|
E-Mail : |
nagaraj.bodige@matrixlabsindia.com apisales@maylan.in (APIs) fdfsales@mylan.in (Formulations) careers@mylan.in (Careers) |
|
Website : |
|
|
|
|
|
Factory: |
Located at
|
|
|
|
|
Branch Office 1 : |
7th Floor, Tower 2B, Indiabulls Centre, 841, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400021, Maharashtra, India |
|
|
|
|
Branch Office 2 : |
Nirmal, 20th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Rajiv Malik |
|
Designation : |
Director |
|
Address : |
B - 6B, Gangotri Alaaknanda, New Delhi – 110019, India |
|
Date of Birth/Age : |
12.03.1961 |
|
Qualification : |
Degree in Pharmaceutical Industry |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
00120557 |
|
|
|
|
Name : |
Mr. Rajiv Krishan Luthra |
|
Designation : |
Additional Director |
|
Address : |
3/15, Shanti Niketan, New Delhi - 110021, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
00022285 |
|
|
|
|
Name : |
Mr. Mohit Saraf |
|
Designation : |
Additional Director |
|
Address : |
Farm No 2, Kapashera Village, Farm House, Delhi - 110037, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
00057284 |
|
|
|
|
Name : |
Ms. Sarada Kalyani Bhagawati |
|
Designation : |
Whole-time Director / CEO |
|
Address : |
Hno. 1-1-380 / 38, Ashok Nagar Extension, Hyderabad - 500020, Andhra Pradesh, India |
|
Date of Appointment : |
01.11.2014 |
|
PAN No.: |
ACXPB3665R |
|
DIN No.: |
02680074 |
|
|
|
|
Name : |
Mr. Rakesh Bamzai |
|
Designation : |
Managing Director / CEO |
|
Address : |
No.79 / 12, Tuisi Sunny Brooks,, Sarjapur Road, Doddakannahalli, Bangalore Rural - 560035, Karnataka, India |
|
Date of Appointment : |
01.11.2014 |
|
PAN No.: |
AANPB2957J |
|
DIN No.: |
06997113 |
KEY EXECUTIVES
|
Name : |
Mr. Nagaraj Goud Bodige |
|
Designation : |
Secretary |
|
Address : |
H. No. 5-14-88, Indiranagar Colony II, APHB Colony, Movlali, Hyderabad - 500040, Andhra Pradesh, India |
|
Date of Appointment : |
25.07.2011 |
|
PAN No.: |
AGYPB3840P |
|
|
|
|
Name : |
Mr. Sachin |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 24.09.2010
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 24.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Nationalized or other banks |
0.01 |
|
Mutual funds |
0.03 |
|
Foreign holdings [Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others] |
0.40 |
|
Bodies corporate |
1.61 |
|
Other top fifty shareholders |
0.20 |
|
Others |
97.75 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Ingredients. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 Material |
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Countries : |
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Terms : |
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|
Selling : |
L/C and Credit (30 / 60 / 90 Days) |
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|
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|
Purchasing : |
L/C and Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
150 (Approximately) |
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Bankers : |
|
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||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accounts |
|
Address : |
Gowra Grand, III Floor, 1-8-1-384- and 385, SP Road, Secunderabad –
500 003, Telangana, India |
|
PAN No. : |
AACFD3771D |
|
|
|
|
Membership : |
-- |
|
|
|
|
Holding Company : |
MP Laboratories (Mauritius) Limited |
|
|
|
|
Ultimate Holding
Company: |
Mylan Inc., India |
|
|
|
|
Subsidiary Company
: |
|
|
|
|
|
Fellow Subsidiary
Company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325000000 |
Equity Shares |
Rs.2/- each |
Rs.650.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
184756858 |
Equity Shares |
Rs.2/- each |
Rs.369.514 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 |
369.510 |
312.680 |
312.680 |
|
(b) Reserves & Surplus |
41421.410 |
24554.940 |
18223.520 |
|
(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) |
41790.920 |
24867.620 |
18536.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
60339.510 |
6916.340 |
5218.080 |
|
(b) Deferred tax liabilities (Net) |
4010.940 |
2018.230 |
1628.280 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
221.290 |
184.440 |
126.380 |
|
Total Non-current
Liabilities (3) |
64571.740 |
9119.010 |
6972.740 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
5399.010 |
10009.800 |
6828.490 |
|
(b) Trade
payables |
16111.710 |
11399.810 |
8550.780 |
|
(c) Other current
liabilities |
15591.660 |
4705.640 |
4724.910 |
|
(d) Short-term
provisions |
428.300 |
463.920 |
304.420 |
|
Total Current
Liabilities (4) |
37530.680 |
26579.170 |
20408.600 |
|
|
|
|
|
|
TOTAL |
143893.340 |
60565.800 |
45917.540 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
26772.180 |
16954.720 |
13493.140 |
|
(ii)
Intangible Assets |
35426.620 |
1044.410 |
54.520 |
|
(iii)
Capital work-in-progress |
2562.500 |
1314.260 |
1098.010 |
|
(iv)
Intangible assets under development |
7646.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
24.880 |
536.410 |
2451.210 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3661.240 |
1765.830 |
898.200 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
76093.420 |
21615.630 |
17995.080 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1539.150 |
0.000 |
0.000 |
|
(b)
Inventories |
24704.120 |
17572.250 |
12967.350 |
|
(c) Trade
receivables |
22549.750 |
12692.880 |
10502.480 |
|
(d) Cash
and cash equivalents |
3183.850 |
2042.000 |
39.760 |
|
(e)
Short-term loans and advances |
5365.500 |
3111.900 |
1705.910 |
|
(f) Other
current assets |
10457.550 |
3531.140 |
2706.960 |
|
Total
Current Assets |
67799.920 |
38950.170 |
27922.460 |
|
|
|
|
|
|
TOTAL |
143893.340 |
60565.800 |
45917.540 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
69783.950 |
53920.770 |
39523.870 |
|
|
|
|
Other Income |
2495.730 |
2059.810 |
448.900 |
|
|
|
|
TOTAL |
72279.680 |
55980.580 |
39972.770 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of materials consumed |
39270.100 |
29044.530 |
20724.650 |
|
|
|
|
Purchases of stock-in-trade |
972.540 |
1321.230 |
848.850 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(3185.570) |
(1559.540) |
(867.610) |
|
|
|
|
Employee benefit expense |
4058.510 |
2918.400 |
2225.330 |
|
|
|
|
Other expenses |
16935.600 |
12220.950 |
8876.130 |
|
|
|
|
Exceptional items |
(2983.770) |
1914.800 |
130.640 |
|
|
|
|
TOTAL |
55067.410 |
45860.370 |
31937.990 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
17212.270 |
10120.210 |
8034.780 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
2484.620 |
630.160 |
575.690 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14727.650 |
9490.050 |
7459.090 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
3461.790 |
964.650 |
779.260 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX |
11265.860 |
8525.400 |
6679.830 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
2816.780 |
3329.970 |
1987.400 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX |
8449.080 |
5195.430 |
4692.430 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
||
|
|
|
Exports at F.O.B. value |
55052.740 |
44478.270 |
34171.130 |
|
|
|
|
Other revenue |
4301.790 |
65.800 |
31.380 |
|
|
|
TOTAL EARNINGS |
59354.530 |
44544.070 |
34202.510 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
18136.720 |
12974.600 |
9018.10 |
|
|
|
|
Stores & Spares |
694.650 |
371.050 |
205.210 |
|
|
|
|
Capital Goods |
1110.590 |
1117.670 |
884.290 |
|
|
|
TOTAL IMPORTS |
19941.960 |
14463.320 |
10107.600 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
33.02 |
33.23 |
30.01 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current Maturities of Long term debt |
529.360 |
1078.690 |
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 |
(%) |
12.11 |
9.64 |
11.87 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
24.67 |
18.77 |
20.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
8.43 |
14.52 |
15.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.34 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /Networth) |
|
1.58 |
0.72 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.47 |
1.37 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
312.680 |
312.680 |
369.510 |
|
Reserves & Surplus |
18223.520 |
24554.940 |
41421.410 |
|
Net
worth |
18536.200 |
24867.620 |
41790.920 |
|
|
|
|
|
|
long-term borrowings |
5218.080 |
6916.340 |
60339.510 |
|
Short term borrowings |
6828.490 |
10009.800 |
5399.010 |
|
Total
borrowings |
12046.570 |
16926.140 |
65738.520 |
|
Debt/Equity
ratio |
0.650 |
0.681 |
1.573 |
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 |
39523.870 |
53920.770 |
69783.950 |
|
|
|
36.426 |
29.419 |
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
|
39523.870 |
53920.770 |
69783.950 |
|
Profit |
4692.430 |
5195.430 |
8449.080 |
|
|
11.87% |
9.64% |
12.11% |
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 |
No |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
No |
|
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 1-1-151/1,
Sairam Towers, 4th Floor, Alexander Road, Secunderabad – 500003,
Andhra Pradesh, India to the present address w.e.f. 15.03.2011
UNSECURED LOANS:
|
PARTICULARS |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Fully convertible debentures others |
50266.900 |
0.000 |
|
Term loans from others |
10054.020 |
6896.330 |
|
Deferred payment liabilities |
18.590 |
20.010 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
2.660 |
736.000 |
|
Other loans and advances |
1993.000 |
4809.100 |
|
|
|
|
|
TOTAL |
62335.170 |
12461.440 |
LITIGATION
DETAILS:
|
CASE STATUS INFORMATION SYSTEM
HON'BLE
JUDGE(S): |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90262350 |
19/09/2003 |
120,000,000.00 |
IDBI BANK LTD. |
MAHAVIR
HOUSE, BASEERBAGH, HYDERABAD, Andhra Prad |
- |
|
2 |
90262253 |
24/02/2003 |
5,000,000.00 |
COOPERATIVE
CENTRALE RAIFFEISEN - BOERENFEENBANK B |
SINGAPORE BRANCH; 77; ROBINSON ROAD - 08 - 00, SIA BUILDING, SINGAPORE, Andhra Pradesh - 068896, INDIA |
- |
|
3 |
90262220 |
14/11/2002 |
75,000,000.00 |
PUNJAB NATIONAL BANK |
RP ROAD, SECUNDRABAD, Andhra Pradesh, INDIA |
- |
|
4 |
90260738 |
25/11/1988 |
263,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORPAORATION |
CHIRAG
ALI LANE, ABIDS, HYDERABAD, Andhra Pradesh |
- |
|
5 |
90260687 |
11/02/1988 |
3,635,000.00 |
AP STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD, Andhra Pradesh, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Electrical Equipment
· Lab Equipment
· Computer Hardware
· Computer Software
· Goodwill
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.63.89 |
|
|
1 |
Rs.98.90 |
|
Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.