MIRA INFORM REPORT
|
Report No. : |
327433 |
|
Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAYER VAPI PRIVATE LIMITED (w.e.f.21.05.2013) |
|
|
|
|
Formerly Known
As : |
MITSU INDUSTRIES LIMITED (w.e.f. 24.01.1995) MITSU INDUSTRIES PRIVATE LIMITED (w.e.f. 18.08.1999) BILAG INDUSTRIES PRIVATE LIMITED (w.e.f. 01.10.1999) |
|
|
|
|
Registered
Office : |
Plot No. 306/3, 2 Phase, GIDC, Vapi – 396195, Gujarat |
|
Tel. No.: |
91-260-2407123/ 25311234 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.08.1990 |
|
|
|
|
Com. Reg. No.: |
04-049322 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 232.626 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999GJ1990PTC049322 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTB01014G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2100L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of active ingredients and its intermediates for use in a
wide array of agriculture and environment protection products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behavior : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject was formally known as, Bilag Industries Private Limited
(BIPL), is wholly owned by the Germany-based “Bayer Group”. The company is a
major sourcing base for agrochemical inputs for Bayer group companies. The
Bayer group is one of the biggest players in the agrochemical segment
world-wide. Subject was incorporated on 08th August 1990, it is well
established company and it is having good track record. Rating take consideration on established market position in the global
synthetic parathyroid segment, healthy operating efficiency, and healthy
financial risk profile marked by low gearing and strong debt protraction
metrics. Rating further take into accounts on company healthy financial risk
profile over the period, supported by healthy operations and low gearing
ratio. Trade relations are fair and trustworthy. Business is active. Payments
are regular as per commitment. In view of decent operation backed by strong support from its holding
company, the company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA |
|
Rating Explanation |
High Degree of Safety and low credit risk |
|
Date |
April 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 DECLINED
Management non co-operative 91-260-2407123
LOCATIONS
|
Registered Office : |
Plot No. 306/3, 2 Phase, GIDC, Vapi – 396195, Gujarat, India |
|
Tel. No.: |
91-260-2407123/ 25311234 |
|
Fax No.: |
91-260-2400055 |
|
E-Mail : |
Not Available |
|
Website : |
DIRECTORS
AS ON 01.09.2014
|
Name : |
Mr. Sekhar Kavasseri Rajagopalan |
|
Designation : |
Managing director |
|
Address : |
Flat No. C-302, Lakshachandi Apartments, Gokuldham, Goregaon (East),
Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1962 |
|
Qualification : |
Post Graduate in Business Mgt. specialisation in Materials
Mgt., Advanced Mgt. Program - ISB |
|
Date of Appointment : |
31.07.2012 |
|
Experience : |
31 Years |
|
PAN No.: |
ABQPK4418D |
|
DIN No.: |
03168413 |
|
|
|
|
Name : |
Mr. Pramod Gopaldas Gujarathi |
|
Designation : |
Director |
|
Address : |
26, Yash Dharamsi Park, Opposite GIDC Quest House, Vapi, Valsad –
396195, Gujarat, India |
|
Date of Birth/Age : |
25.06.1952 |
|
Qualification : |
B Tech, PGDMS |
|
Experience : |
41 Years |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
ACMPG6999G |
|
DIN No.: |
00418958 |
|
|
|
|
Name : |
Mr. Michael Johannes Van Nooy |
|
Designation : |
Director |
|
Address : |
Leverkusen Honenstr 98, Leverkusen
- 51381, Germany |
|
Date of Birth/Age : |
16.09.1954 |
|
Date of Appointment : |
07.03.2012 |
|
DIN No.: |
05242798 |
|
|
|
|
Name : |
Mr. Alfred Rolf Decker |
|
Designation : |
Director |
|
Address : |
Amselweg 4, Langenfield – 40764, Germany |
|
Date of Birth/Age : |
20.11.1958 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
03349822 |
|
|
|
|
Name : |
Mr. Dirk Backhaus |
|
Designation : |
Chairman |
|
Address : |
Baadenberger Str 20 Newehrenfeld Koln Northrhine Westphalia, Germany |
|
Date of Birth/Age : |
04.02.1967 |
|
Date of Appointment : |
01.01.2014 |
|
DIN No.: |
06772537 |
KEY EXECUTIVES
|
Name : |
Mr. Nikunj Jaysukhlal Savaliya |
|
Designation : |
Secretary |
|
Address : |
102, Tithi Flats, 17, Bhadran Nagar, New Sama Road, Vadodara – 390024,
Gujarat, India |
|
Date of Birth/Age : |
28.11.1981 |
|
Date of Appointment : |
24.04.2013 |
|
Experience : |
11 Years |
|
PAN No.: |
BBEPS9789N |
|
|
|
|
Name : |
Ms. Pratha Dutta |
|
Designation : |
Vice President |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
MBA |
|
Date of Appointment : |
08.11.1994 |
|
Experience : |
22 Years |
|
|
|
|
Name : |
Mr. Pramod Patel |
|
Designation : |
Vice President |
|
Date of Birth/Age : |
52 Years |
|
Qualification : |
M.Sc. |
|
Date of Appointment : |
01.01.1992 |
|
Experience : |
30 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Bayer SAS, France |
23262599 |
100.00 |
|
Bayer Cropscience AG, Germany |
1 |
0.00 |
|
Total |
23262600 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 01.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of active ingredients and its intermediates for use in a
wide array of agriculture and environment protection products. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
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|
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|
Agencies Held : |
Not Available |
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|
Exports : |
Not Divulged |
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|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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||||||||||||||
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Customers : |
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||||||||||||||
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No. of Employees : |
Information declined by the management |
||||||||||||||
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|
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Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Plot No Y 14 Block EP, Sector V, Salt Lake Electronic
Complex, Bidhan Nagar, Kolkata – 700091, West Bengal, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding company : |
·
Bayer CropScience AG, Germany · Bayer S.A.S., France |
|
|
|
|
Ultimate Holding Company: |
Bayer AG, Germany |
|
|
|
|
Associates/Subsidiaries : |
· Bayer CropScience Limited [L24210MH1958PLC011173] · Bayer MaterialScience Private Limited [U19113MH1995PTC179724] · Bayer Pharmaceuticals Private Limited [U05195MH1998PTC116021] · Bayer BioScience Private Limited [U74899MH1977PTC179722] · Nunhems India Private Limited [U74999AP1995PTC020661] · Bayer Business Services GmbH · Bayer Business Services Private Limited [U72300MH2010FTC210494] · Bayer CropScience (Private) Limited (Pakistan) · Currenta GmbH and Company OHG ·
Bayer Technology Services Gmbh
|
CAPITAL STRUCTURE
AS ON 01.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Million |
|
8500000 |
Preference Shares |
Rs.100/- each |
Rs. 850.000 Million |
|
|
Total |
|
Rs.1250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23262600 |
Equity Shares |
Rs.10/- each |
Rs.233.000
Million |
|
|
|
|
|
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
233.000 |
233.000 |
233.000 |
|
(b) Reserves & Surplus |
14963.000 |
12448.000 |
10614.000 |
|
(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) |
15196.000 |
12681.000 |
10847.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
61.000 |
45.000 |
66.000 |
|
(c) Other long term
liabilities |
18.000 |
9.000 |
0.000 |
|
(d) long-term
provisions |
47.000 |
88.000 |
1.000 |
|
Total Non-current
Liabilities (3) |
126.000 |
142.000 |
67.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
883.000 |
1673.000 |
0.000 |
|
(b) Trade
payables |
1518.000 |
1191.000 |
848.000 |
|
(c) Other
current liabilities |
269.000 |
146.000 |
104.000 |
|
(d) Short-term
provisions |
51.000 |
55.000 |
61.000 |
|
Total Current
Liabilities (4) |
2721.000 |
3065.000 |
1013.000 |
|
|
|
|
|
|
TOTAL |
18043.000 |
15888.000 |
11927.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2716.000 |
2144.000 |
1932.000 |
|
(ii)
Intangible Assets |
14.000 |
9.000 |
7.000 |
|
(iii)
Capital work-in-progress |
317.000 |
437.000 |
288.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5410.000 |
6018.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
893.000 |
1766.000 |
1539.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
9350.000 |
10374.000 |
3766.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3099.000 |
2270.000 |
1557.000 |
|
(c) Trade
receivables |
2201.000 |
1907.000 |
1956.000 |
|
(d) Cash
and cash equivalents |
2686.000 |
374.000 |
926.000 |
|
(e)
Short-term loans and advances |
703.000 |
963.000 |
3720.000 |
|
(f) Other
current assets |
4.000 |
0.000 |
2.000 |
|
Total
Current Assets |
8693.000 |
5514.000 |
8161.000 |
|
|
|
|
|
|
TOTAL |
18043.000 |
15888.000 |
11927.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11158.000 |
9184.000 |
8770.000 |
|
|
|
Other Income |
585.000 |
345.000 |
674.000 |
|
|
|
TOTAL |
11743.000 |
9529.000 |
9444.000 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
7666.000 |
6457.000 |
5836.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4077.000 |
3072.000 |
3608.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
88.000 |
53.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3989.000 |
3019.000 |
3608.000 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION |
313.000 |
272.000 |
267.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3676.000 |
2747.000 |
3341.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1161.000 |
913.000 |
1095.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2515.000 |
1834.000 |
2246.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11890.000 |
10056.000 |
10507.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Payment of Share Premium |
0.000 |
0.000 |
45.000 |
|
|
|
Transferred to Capital Redemption Reserve |
0.000 |
0.000 |
2652.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
2697.000 |
|
|
BALANCE CARRIED
TO THE B/S |
14405.000 |
11890.000 |
10056.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
7386.000 |
6564.000 |
5976.000 |
|
|
TOTAL EARNINGS |
7386.000 |
6564.000 |
5976.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3707.000 |
2677.000 |
1953.000 |
|
|
|
Stores & Spares |
8.000 |
11.000 |
21.000 |
|
|
|
Capital Goods |
16.000 |
15.000 |
14.000 |
|
|
TOTAL IMPORTS |
3731.000 |
2703.000 |
1988.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
108.11 |
78.84 |
96.55 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
22.54 |
19.97 |
25.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
36.54 |
33.45 |
41.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.85 |
29.12 |
28.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.22 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.06 |
0.13 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.19 |
1.80 |
8.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
233.000 |
233.000 |
233.000 |
|
Reserves & Surplus |
10614.000 |
12448.000 |
14963.000 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
10847.000 |
12681.000 |
15196.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
1673.000 |
883.000 |
|
Total borrowings |
0.000 |
1673.000 |
883.000 |
|
Debt/Equity ratio |
0.000 |
0.132 |
0.058 |
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 |
8770.000 |
9184.000 |
11158.000 |
|
|
|
4.721 |
21.494 |
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 |
8770.000 |
9184.000 |
11158.000 |
|
Profit |
2246.000 |
1834.000 |
2515.000 |
|
|
25.61% |
19.97% |
22.54% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
Registered office of the company has been
shifted from 512/513, 5th Floor, Saharcomplex, Andheri - Kurla Road, J.B.
Nagar, Andheri [East], Mumbai – 400069, Maharashtra India to the present address (w.e.f. 01.11.2006)
PERFORMANCE REVIEW
OPERATIONS
The Company’s Revenue from Operation (Net) is increased by 21.5%, to Rs. 11,158 Million for the year as compared to Rs. 9,184 Million of the previous financial year.
EXPORTS
During the year under review, your Company’s export sales stood at Rs. 7,432 Million as against Rs. 6,598 Million during the previous year. The Company’s exports stood at 67% of the total sales.
PROFITABILITY
The Company has achieved Profit after Taxation (PAT) of Rs. 2,515 Million as against Rs.1,834 Million of the previous year.
CAPITAL EXPENDITURE
During the year, total additions to fixed assets including capital work-in-progress amounted to Rs. 799 Million and accordingly the Gross Fixed Assets of the Company stood at Rs. 6,394 Million and the Net Fixed Assets including the balance amount in Capital Work in Progress stood at Rs. 3,047 Million
CHANGE OF NAME
The name of the Company is changed from Bilag Industries Private Limited to Bayer Vapi Private Limited vide approval of the members at Annual General Meeting of the Company held on 28th September, 2012. The Company has received a fresh certificate of incorporation consequent upon change of name to that effect dated 21st May, 2013 from Ministry of Corporate Affairs.
BUSINESS EXPANSION
AND FUTURE OUTLOOK
The performance of the Company in terms of Revenue has been increased by over 21% as compared to the last year. Overall, net sales benefitted from volume and price and exchange rate effects. The Company expects growing demand for its products both in the domestic market as well as in the international market in the year ahead and is confident of achieving more efficient results in future.
As part of its commitment on climate change, the Company continues to invest in technology for further improving treatment of effluents and waste generated during the manufacturing process.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
883.000 |
1673.000 |
|
Total |
883.000 |
1673.000 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer software
· Know-how
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.64.15 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KSH |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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
unfavorable 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.