MIRA INFORM REPORT
|
Report No. : |
327539 |
|
Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
JAGDALE INDUSTRIES LIMITED JUGGAT PHARMA - A DIVISION OF JAGDALE INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
No.782, 15th Cross, 1st Phase, J.P. Nagar,
Bangalore – 560078, Karnataka |
|
Tel. No.: |
91-80-26635642 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.06.1994 |
|
|
|
|
Com. Reg. No.: |
08-015825 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.99.526 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33114KA1994PLC015825 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4499B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of pharmaceutical formulations, bulk drugs and
chemicals. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
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 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Turnover of the company has increased however, profits of the company slightly
declined during FY 2014. General financial position of the company is sound
and healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. 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.
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 |
Long term rating=BBB- / (Positive) |
|
Rating Explanation |
Moderate degree of safety and carry moderate
credit risk. |
|
Date |
09.06.2015 |
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 DENIED BY
|
Name : |
Mr. Manjunath |
|
Designation : |
Vice President |
|
Contact No.: |
91-80-26635642 |
|
Date : |
15.06.2015 |
LOCATIONS
|
Registered Office : |
No.782, 15th Cross, 1st Phase, J.P. Nagar,
Bangalore – 560078, Karnataka, India |
|
Tel. No.: |
91-80-26635642 / 26635631 |
|
Fax No.: |
91-80-26635271 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rajesh Jagdale |
|
Designation : |
Managing Director |
|
Address : |
'Sumeru', 39/23, 29th Cross, 7th Block, Jayanagar,
Bangalore - 560082, Karnataka, India |
|
Date of Birth/Age : |
04.11.1974 |
|
Date of Appointment : |
01.01.1999 |
|
DIN No.: |
00077029 |
|
|
|
|
Name : |
Mr. Jayesh Nagaraja Rao Jagdale |
|
Designation : |
Managing Director |
|
Address : |
'Sumeru', 39/23, 29th Cross, 7th Block,
Jayanagar, Bangalore - 560082, Karnataka, India |
|
Date of Birth/Age : |
09.07.1976 |
|
Date of Appointment : |
01.01.1999 |
|
DIN No.: |
00076941 |
|
|
|
|
Name : |
Mrs. Ujwala Nagaraja Rao Jagdale |
|
Designation : |
Managing Director |
|
Address : |
'Sumeru', 39/23, 29th Cross, 7th Block,
Jayanagar, Bangalore - 560082, Karnataka, India |
|
Date of Birth/Age : |
28.04.1979 |
|
Date of Appointment : |
31.10.2001 |
|
DIN No.: |
00076857 |
|
|
|
|
Name : |
Mr. Nagarajrao Jayamala |
|
Designation : |
Director |
|
Address : |
'Sumeru', 39/23, 29th Cross, 7th Block,
Jayanagar, Bangalore - 560082, Karnataka, India |
|
Date of Birth/Age : |
18.07.1951 |
|
Date of Appointment : |
30.06.1994 |
|
DIN No.: |
00075110 |
|
|
|
|
Name : |
Mr. Sudhindra Damodhar Rao |
|
Designation : |
Director |
|
Address : |
593, 'Gurukrupa', 12th 'A' Cross, J P Nagar II Phase,
Bangalore - 560078, Karnataka, India |
|
Date of Birth/Age : |
02.10.1972 |
|
Date of Appointment : |
18.08.2006 |
|
DIN No.: |
00531089 |
KEY EXECUTIVES
|
Name : |
Mr. Ganapati Raghav Hebbar |
|
Designation : |
Secretary |
|
Address : |
No.4, 5th Cross, 30th Main, 1st
Phase, J P Nagar, Bangalore - 560078, Karnataka, India |
|
Date of Birth/Age : |
10.01.1963 |
|
Date of Appointment : |
03.07.2000 |
|
PAN No.: |
AALPH0565L |
|
|
|
|
Name : |
Mr. Manjunath |
|
Designation : |
Vice President |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
N Jayamala |
|
131542 |
|
Rajesh Jagdale |
|
288250 |
|
Jayesh Jagdale |
|
288250 |
|
Ujwala Nagaraja Rao Jagdale |
|
286989 |
|
Uttara Jagdale |
|
100 |
|
Gandhali J Jagdale |
|
25 |
|
Sudhindra D Disle |
|
100 |
|
|
|
|
|
Total |
|
995256 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of pharmaceutical formulations, bulk drugs and
chemicals. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Agencies Held : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Canara Bank, Industrial Finance Branch, "Venkatadri Complex", # 83, Richmond Road, Bangalore - 560025, Karnataka, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Singhvi, Dev and Unni Chartered Accountant |
|
Address : |
6th Floor, Trade Centre, #29/4, Race Course Road, Bengaluru-560001, Karnataka, India |
|
PAN No.: |
AAEFS6338K |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Joint Venture: |
· Trinity Fructa Limited, India [U15137AS2010PLC010235] |
|
|
|
|
Enterprise over
which key management personnel are able to exercise significant influence: |
· Glen Loren Plantations Private Limited, India [U70109KA2001PTC029926] · Jagdale Scientific Research Foundation (J.S.R.F) · Rju Enterprises Private Limited, India [U21020KA2009PTC051674] |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
995256 |
Equity Shares |
Rs.100/- each |
Rs.99.526 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 |
99.526 |
99.526 |
99.526 |
|
(b) Reserves & Surplus |
316.749 |
279.847 |
232.925 |
|
(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) |
416.275 |
379.373 |
332.451 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
119.997 |
99.208 |
97.731 |
|
(b) Deferred tax liabilities (Net) |
52.131 |
24.160 |
23.350 |
|
(c) Other long term
liabilities |
89.991 |
86.256 |
78.156 |
|
(d) long-term
provisions |
30.139 |
31.006 |
22.255 |
|
Total Non-current
Liabilities (3) |
292.258 |
240.630 |
221.492 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
386.895 |
342.531 |
217.215 |
|
(b) Trade
payables |
255.540 |
226.488 |
140.573 |
|
(c) Other
current liabilities |
72.672 |
47.470 |
125.932 |
|
(d) Short-term
provisions |
20.514 |
13.456 |
11.295 |
|
Total Current
Liabilities (4) |
735.621 |
629.945 |
495.015 |
|
|
|
|
|
|
TOTAL |
1444.154 |
1249.948 |
1048.958 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
563.128 |
505.762 |
457.925 |
|
(ii)
Intangible Assets |
1.582 |
0.703 |
0.703 |
|
(iii)
Capital work-in-progress |
6.378 |
0.000 |
30.040 |
|
(iv)
Intangible assets under development |
4.370 |
0.000 |
0.000 |
|
(b) Non-current Investments |
27.517 |
27.517 |
27.517 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
25.135 |
22.620 |
15.628 |
|
(e) Other
Non-current assets |
8.099 |
6.283 |
8.347 |
|
Total Non-Current
Assets |
636.209 |
562.885 |
540.160 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
269.587 |
276.882 |
233.167 |
|
(c) Trade
receivables |
346.717 |
264.962 |
172.580 |
|
(d) Cash
and cash equivalents |
123.339 |
107.928 |
69.293 |
|
(e)
Short-term loans and advances |
10.197 |
5.509 |
21.841 |
|
(f) Other
current assets |
58.105 |
31.782 |
11.917 |
|
Total Current
Assets |
807.945 |
687.063 |
508.798 |
|
|
|
|
|
|
TOTAL |
1444.154 |
1249.948 |
1048.958 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2008.746 |
1753.596 |
1301.556 |
|
|
Other Income |
32.697 |
28.916 |
45.450 |
|
|
TOTAL
(A) |
2041.443 |
1782.512 |
1347.006 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
533.421 |
535.263 |
550.003 |
|
|
Purchases of Stock-in-Trade |
318.216 |
228.896 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.983 |
(19.029) |
(30.932) |
|
|
Employees benefits expense |
407.759 |
362.708 |
300.732 |
|
|
Other expenses |
571.554 |
490.217 |
389.616 |
|
|
Exceptional items |
0.000 |
0.000 |
1.523 |
|
|
TOTAL
(B) |
1833.933 |
1598.055 |
1210.942 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
207.510 |
184.457 |
136.064 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
69.203 |
64.351 |
52.567 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
138.307 |
120.106 |
83.497 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
38.653 |
35.425 |
29.098 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
99.654 |
84.681 |
54.399 |
|
|
|
|
|
|
|
Less |
TAX (H) |
62.752 |
37.939 |
21.119 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
36.902 |
46.742 |
33.280 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
37.08 |
47.15 |
33.44 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
31.128 |
18.962 |
17.409 |
|
Cash generated from operations |
129.883 |
52.320 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.84 |
2.67 |
2.56 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.33 |
10.52 |
10.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.09 |
6.93 |
5.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.22 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.29 |
1.21 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.09 |
1.03 |
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 |
99.526 |
99.526 |
99.526 |
|
Reserves & Surplus |
232.925 |
279.847 |
316.749 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
332.451 |
379.373 |
416.275 |
|
|
|
|
|
|
long-term borrowings |
97.731 |
99.208 |
119.997 |
|
Short term borrowings |
217.215 |
342.531 |
386.895 |
|
Current Maturities Of
Long-Term Debts |
17.409 |
18.962 |
31.128 |
|
Total
borrowings |
332.355 |
460.701 |
538.020 |
|
Debt/Equity
ratio |
1.000 |
1.214 |
1.292 |
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 |
1301.556 |
1753.596 |
2008.746 |
|
|
|
34.731 |
14.550 |
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 |
1301.556 |
1753.596 |
2008.746 |
|
Profit |
33.280 |
46.742 |
36.902 |
|
|
2.56% |
2.67% |
1.84% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
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 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 |
RESULTS OF OPERATIONS
Sales and other income during the Financial Year 2013 2014 was Rs.2041.443 Million as compared to Rs.1782.513 Million during the previous financial year, thereby registering the growth of about 14.52% as compared to the previous year. Profit for the year was Rs.36.903 Million as compared to Rs.46.921 Million during the previous financial year. The decline in profit was due to higher tax expenses during the year which was Rs.598.97 lacs as compared to Rs.36.491 Million during the previous year.
FUTURE OUTLOOK
The Directors are confident of registering consistent growth in volume of business and operating profit in the coming years, with introduction of new products both in Pharma and Food segments coupled with expansion of markets for the products in India and internationally.
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long Term
Borrowing |
|
|
|
Loans and advances from related parties |
46.280 |
46.238 |
|
|
|
|
|
Total |
46.280 |
46.238 |
INDEX
OF CHARGES
|
S.No. |
Charge Id |
Date Of Charge Creation/Modification |
Charge Amount Secured |
Charge Holder |
Address |
Service Request Number (Srn) |
|
1 |
10506259 |
19/05/2014 |
986,000.00 |
Axis Bank Limited |
Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India |
C09395948 |
|
2 |
10440847 |
16/07/2013 |
1,754,000.00 |
Axis Bank Limited |
Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India |
B81016339 |
|
3 |
10400112 |
10/01/2013 |
394,000.00 |
Axis Bank Limited |
Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India |
B66947334 |
|
4 |
10367238 |
02/07/2012 |
2,899,000.00 |
Axis Bank Limited |
Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India |
B44408136 |
|
5 |
90198272 |
25/02/2015 * |
780,000,000.00 |
Canara Bank |
Industrial Finance Branch, Venkatadri Complex, No.83, Richmond Road, Bangalore, Karnataka - 560025, India |
C45815164 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
Intangible assets
· Goodwill
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.15 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT / KVT |
SCORE & 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 |
4 |
|
--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 |
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 |
|
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.