MIRA INFORM REPORT
|
Report No. : |
328003 |
|
Report Date : |
19.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCHOTT GLASS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Dynasty, A-Wing, 303 and 304, 3rd Floor, Opposite Sangam, Theatre,
Andheri – Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-28266100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.12.1997 |
|
|
|
|
Com. Reg. No.: |
11 -112295 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 951.678 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26100MH1997PTC112295 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01425E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS8583L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Neutral Glasses |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a subsidiary of “Schott Glaswerke Beteiligungs Gmbh”. It is
an established company having moderate track. The company possesses a moderate financial profile marked by
consecutive losses since 2011-12 due to which the reserves of the company are
gradually deteriorating during 2014. The ratings also take into consideration the established brand
position in India, as the plant established in India is a dedicated unit for
manufacturing special glass tubes for pharmaceutical packaging branded as
“Fiolax” which are used almost by all pharmaceutical companies in India.” Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of technical, managerial and financial support from its
holding company, the subject can be considered for business dealings with
some caution. |
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. Rupesh Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2644-220216 |
|
Date : |
18.06.2015 |
LOCATIONS
|
Registered Office : |
Dynasty, A-Wing, 303 and 304, 3rd Floor, Opposite Sangam, Theatre,
Andheri – |
|
Tel No.: |
91-22-28266100 / 40947000 |
|
Fax No.: |
91-22-28266097 / 40947001 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Village-Ankhi, Taluka-Jambusar, District-Bharuch, |
|
Tel. No.: |
91-2644220216 / 222573 |
|
Fax No.: |
91-2644220227 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Pune Office : |
307, South Wing, Sacred World, Wanwadi Pune - 411040 India |
|
Tel. No.: |
91-20-40091695 |
|
Fax No.: |
91-20-40092273 |
|
|
|
|
Tubing division : |
2nd Floor, Sidcup Tower, Race Course, Baroda – 390007, Gujarat, India |
|
Tel. No.: |
91-265-2334391/2336952 |
|
Fax No.: |
91-265-2330982 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Supransu Bandyopadhyay |
|
Designation : |
Whole time director |
|
Address : |
401, Srimadh Apartment, Nilkantha Society, Beside Krishna Duplex, Vasna Road, Vadodara – 390015, Gujarat, India |
|
Date of Birth/Age : |
28.05.1961 |
|
Date of Appointment : |
13.11.2008 |
|
DIN No.: |
02434434 |
|
|
|
|
Name : |
Mr. Stefan Anreas Laetsch |
|
Designation : |
Director |
|
Address : |
Novel Century, Tower 11 and 12, Lane 81, Xin Geng Road, Xuhui District, Shama Xujiahlii, Shanghai, 200030, China_ |
|
Date of Birth/Age : |
04.08.1963 |
|
Date of Appointment : |
18.05.2010 |
|
DIN No.: |
03067795 |
|
|
|
|
Name : |
Mr. Georg Helmut Sparschuh |
|
Designation : |
Director |
|
Address : |
401 Sangeet Flats, 18, Abhishek Colony, Near Bank Race Course, Vadodara - 39007, Gujarat, India |
|
Date of Birth/Age : |
25.02.1961 |
|
Date of Appointment : |
25.08.2011 |
|
DIN No.: |
03602395 |
|
|
|
|
Name : |
Mr. Patrick Markschlaeger |
|
Designation : |
Director |
|
Address : |
14 A, Fuchsturmweg, Jena, Germany 07749 |
|
Date of Birth/Age : |
30.04.1966 |
|
Date of Appointment : |
12.03.2013 |
|
DIN No.: |
06513162 |
KEY EXECUTIVES
|
Name : |
Mr. Rupesh Shah |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Neutral Glasses |
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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 : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
400 (Approximately) |
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Bankers : |
Deutsche Bank, Hazarimal Somani Marg, Fort, Mumbai - 400001, Maharashtra, India |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
2nd Floor Shivalik Ishaan, Near C.N. Vidhyalaya, Ambavadi, Ahemdabad-380015, Gujarat, India |
|
PAN.: |
ACHFS9118A |
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|
|
|
Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
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Holding Company : |
Schott Glaswerke Betriligungs GmbH |
|
|
|
|
Ultimate Holding Company: |
Schott AG, Mainz, Germany |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95990000 |
Equity Shares |
Rs. 10/- each |
Rs. 959.900 Million |
|
10000 |
Preference Share |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
Total
|
|
Rs.
960.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95167769 |
Equity Shares |
Rs. 10/- each |
Rs.951.678 Million |
|
162 |
Preference Share |
Rs. 10/- each |
Rs.0.001 Million |
|
|
Total |
|
Rs. 951.679 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 |
951.678 |
671.679 |
671.681 |
|
(b) Reserves & Surplus |
189.310 |
147.966 |
168.722 |
|
(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) |
1140.988 |
819.645 |
840.403 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
733.677 |
148.177 |
384.776 |
|
(b) Deferred tax liabilities
(Net) |
88.243 |
85.248 |
70.182 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
77.461 |
87.116 |
84.129 |
|
Total
Non-current Liabilities (3) |
899.381 |
320.541 |
539.087 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
107.518 |
848.788 |
552.349 |
|
(b) Trade payables |
218.586 |
230.155 |
299.375 |
|
(c) Other current liabilities |
257.448 |
395.806 |
202.025 |
|
(d) Short-term provisions |
14.693 |
4.524 |
1.105 |
|
Total
Current Liabilities (4) |
598.245 |
1479.273 |
1054.854 |
|
|
|
|
|
|
TOTAL |
2638.614 |
2619.459 |
2434.344 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1200.277 |
1283.032 |
1468.797 |
|
(ii) Intangible Assets |
1.639 |
1.114 |
1.395 |
|
(iii) Capital work-in-progress |
113.002 |
231.531 |
23.619 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
78.665 |
79.814 |
178.057 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
2.074 |
|
Total
Non-Current Assets |
1393.583 |
1595.491 |
1673.942 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
539.192 |
508.150 |
345.378 |
|
(c) Trade receivables |
494.533 |
389.631 |
326.163 |
|
(d) Cash and cash equivalents |
67.479 |
6.140 |
5.441 |
|
(e) Short-term loans and
advances |
134.609 |
113.629 |
83.420 |
|
(f) Other current assets |
9.218 |
6.418 |
0.000 |
|
Total
Current Assets |
1245.031 |
1023.968 |
760.402 |
|
|
|
|
|
|
TOTAL |
2638.614 |
2619.459 |
2434.344 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1722.044 |
1708.030 |
1526.143 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
(A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
447.942 |
350.467 |
248.634 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
118.914 |
96.172 |
99.118 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
329.028 |
254.295 |
92.915 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
258.624 |
203.044 |
138.521 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
70.404 |
51.251 |
(45.606) |
|
|
|
|
|
|
|
Less |
TAX (H) |
99.060 |
72.007 |
(23.961) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(28.656) |
(20.756) |
(21.645) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
127.917 |
715.383 |
581.521 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.30) |
(0.22) |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1850.000 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
165.181 |
347.791 |
181.992 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.66) |
(1.22) |
(1.42) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.79 |
2.15 |
(1.89) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.06 |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.88 |
1.64 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08 |
0.69 |
0.72 |
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 |
671.681 |
671.679 |
951.678 |
|
Reserves & Surplus |
168.722 |
147.966 |
189.310 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
840.403 |
819.645 |
1140.988 |
|
|
|
|
|
|
long-term borrowings |
384.776 |
148.177 |
733.677 |
|
Short term borrowings |
552.349 |
848.788 |
107.518 |
|
Current maturities of
long-term debts |
181.992 |
347.791 |
165.181 |
|
Total
borrowings |
1119.117 |
1344.756 |
1006.376 |
|
Debt/Equity
ratio |
1.332 |
1.641 |
0.882 |
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 |
1526.143 |
1708.030 |
1722.044 |
|
|
|
11.918 |
0.820 |
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 |
1526.143 |
1708.030 |
1722.044 |
|
Profit |
(21.645) |
(20.756) |
(28.656) |
|
|
(1.42%) |
(1.22%) |
(1.66%) |
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) |
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 |
-- |
|
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 |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 305 ACME Plaza, Opposite Sangamtheatre Andheri Kurla Road, Andheri East, Mumbai – 400059, Maharashtra India to the present address w.e.f. 01.12.2006
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Lodging No.:- |
ITXAL/195/2012 |
Filing Date:- |
13/02/2012 |
Reg. No.:- |
ITXA/1160/2012 |
Reg. Date:- |
11/10/2012 |
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX - 8 |
Respondent:- |
SCHOTT GLASS INDIA PRIVATE LIMITED |
|
|
Petn.Adv.:- |
Arvind Pinto (1892) |
|
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
|
Next Date:- |
05/05/2014 |
Stage:- |
FOR ADMISSION |
|
Coram:- |
HON'BLE SHRI JUSTICE S.C. DHARMADHIKARI |
|
HON'BLE SHRI JUSTICE GIRISH S. KULKARNI |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Other external commercial borrowing |
733.647 |
148.116 |
|
Bonds |
0.030 |
0.061 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Rupee term loan from banks |
50.000 |
390.000 |
|
Working capital loans from banks |
57.518 |
458.788 |
|
Total |
|
|
|
|
841.195 |
996.965 |
BACKGROUND
Subject is a 100% subsidiary of Schott Glaswerke Beteiligungs GmbH was incorporated on 5 December 1997. The Company has two divisions, Tubing Division and Trade Division. The Company has acquired the neutral glass tube manufacturing unit of Bharat Glass Tube Limited on 28 January 1998. The Company produces Clear (NGC), Amber (NGA) and Fiolax Clear glass for pharma packaging. The Company has started its Trading Division from October 1998 in Mumbai and is mainly in the business of marketing the products for different Schott Business Units.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90147260 |
19/03/1999 |
407,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD. |
NETWORK SERVICE
CENTRE, SUDAM KALU; AHIRE MARG; |
- |
|
2 |
90142227 |
29/09/1998 |
500,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD. |
52/60; MAHATMA GANDHI ROAD, FORT; MUMBAI, Maharashtra - 400001, INDIA |
- |
*Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Office equipment
- Leasehold improvements
Intangible assets
- 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 records 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.63.85 |
|
|
1 |
Rs.100.99 |
|
Euro |
1 |
Rs.72.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.