MIRA INFORM REPORT
|
Report No. : |
311571 |
|
Report Date : |
10.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANDOZ PRIVATE
LIMITED [w.e.f. 23.04.2003] |
|
|
|
|
Formerly Known
As : |
SANDOZ PHARMA (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sandoz House, Dr.
A. B. Road, Worli, Mumbai – 400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.03.1995 |
|
|
|
|
Com. Reg. No.: |
11-086989 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.32.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1995PTC086989 |
|
|
|
|
IEC No.: |
MUMN06026G |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS9267J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and
trading of pharmaceuticals products and providing services. |
|
|
|
|
No. of Employees
: |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are 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 condition. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Devendra Vikhankar |
|
Designation : |
Assistant Treasury Department |
|
Contact No.: |
91-22-61523840 |
|
Date : |
09.03.2015 |
LOCATIONS
|
Registered Office : |
Sandoz House, |
|
Tel. No.: |
91-22-24939258 /
24981620 / 24982095 / 27639157 / 2763933527639000 |
|
Fax No.: |
91-22-24981620 /
56512121 / 24982099 / 27639064 / 27639012 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Sandoz House,
Shivsagar Estate, A Block, 6th Floor, Mumbai – 400013, |
|
Tel. No.: |
91-22-24981623 |
|
|
|
|
Factory: |
MIDC, Plot No.
8-A/2, 8-B TTC Industrial Area, Kawle Block, Village Dighe, Opposite Thane
Belapur Road, Navi Mumbai – 400 708, Maharashtra, India |
|
Tel No.: |
91-22-24982091 |
|
Fax No. : |
91-22-24982099 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vivek Devaraj |
|
Designation : |
Managing director |
|
Address : |
3, 319 A,
Vallalar Road, Uthandu Ecr, Chennai – 600119, Tamilnadu, India |
|
Date of
Birth/Age : |
18.06.1968 |
|
Date of
Appointment : |
16.11.2012 |
|
Pan No.: |
AABPV9979Q |
|
Din No.: |
06390939 |
|
|
|
|
Name : |
Mr.
Vijayanarayanan |
|
Designation : |
Additional
Director |
|
Address : |
702, Hercules,
Lodha Paradise, Near Majewada Flyover, Eastern Express Highway, Thane (West),
Thane – 400601, Maharashtra, India |
|
Date of
Birth/Age : |
23.04.1965 |
|
Date of
Appointment : |
30.09.2014 |
|
Din No.: |
06639177 |
|
|
|
|
Name : |
Mr. Jeffrey
Martin Rope |
|
Designation : |
Director |
|
Address : |
Zugerbergstrasse 37,
Unterageri 6314, Switzerland |
|
Date of
Birth/Age : |
05.03.1962 |
|
Date of
Appointment : |
09.08.2013 |
|
Din No.: |
03641506 |
|
|
|
|
Name : |
Mr. Andreas
Brutsche Michael |
|
Designation : |
Additional
Director |
|
Address : |
Im Schindwasen 5,
Britzingen 79379 Mullheim |
|
Date of
Birth/Age : |
17.09.1962 |
|
Date of
Appointment : |
30.09.2014 |
|
Din No.: |
06659893 |
KEY EXECUTIVES
|
Name : |
Mr. Devendra Vikhankar |
|
Designation : |
Assistant Treasury Department |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Novartis Holding
A G, Switzerland |
|
3199995 |
|
Novartis A G,
Switzerland |
|
5 |
|
Total |
|
3200000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
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 : |
Manufacturing and
trading of pharmaceuticals products and providing services. |
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|
||||
|
Products : |
·
Tablets ·
Bulk
Drugs ·
Nasal
Sprays |
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|
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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 : |
·
Switzerland ·
USA ·
Sweden ·
Sri lanka ·
Bangladesh ·
Brazil ·
Canada ·
Australia ·
Austria |
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|
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Imports : |
|
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|
Products : |
Raw Material |
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Countries : |
·
China ·
Europe ·
Switzerland ·
Germany ·
Brazil |
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|
||||
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
2000 (Approximately) |
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Bankers : |
·
Standard
Chartered Bank, 90, M G Road, Fort, Mumbai – 400001, Maharashtra, India ·
UCO Bank ·
Union
Bank of India, Union Bank Bhavan, First Floor, 239, Vidhan Bhavan Marg,
Nariman Point, Mumbai – 400021, Maharashtra, India ·
Banque National De Paris, French Bank Buld.; 62,
Homji Street; Fort, Mumbai - 400001, Maharashtra, India |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252,Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbai-400028, Maharashtra, India |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
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Holding Company : |
*Novartis Holding AG, Basel, Switzerland (*no transactions during the year) |
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|
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Ultimate Holding company: |
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|
|
|
Fellow subsidiaries: |
·
Chiron Behring Vaccines Private Limited, India CIN:
U24230MH1997PTC111122 ·
PT Sandoz Indonesia ·
N.V. Sandoz S.A. ·
Salutas Pharma GmbH ·
Hexal AG ·
Sandoz U.S ·
JenaHexal Pharma Gmbh ·
Sandoz AG ·
Novartis Asia Pacific ·
Sandoz Do Brasil Industria ·
LEK Pharmaceuticals D D ·
Sandoz Canada Inc. ·
Novartis Pharma Services Inc. ·
Sandoz GmbH ·
Novartis Animal Health Australasia Pty Limited,
India ·
CIN: U15202MH1997PTC111257 ·
Sandoz S.P.A ·
Novartis Bangladesh Limited ·
CIN: L24200MH1947PLC006104 ·
Sandoz Inc. ·
Novartis Biociencias S.A. ·
Sandoz International GmbH ·
Novartis Consumer Health ·
S.A. Sandoz K K ·
Novartis Consumer Health, Inc ·
Sandoz Philipines Corporation ·
Novartis Corporation (Malaysia) ·
Sandoz A/S ·
Novartis Vaccines and Diagnostics Limited ·
Sandoz Pty Limited ·
Novartis France S.A. ·
Sandoz (SA) Pty Limited ·
Novartis Thailand Limited SC ·
Sandoz S.R.L. ·
Novartis Healthcare Private Limited ·
Befico Limited ·
Novartis India Limited Lek S.A ·
Novartis International AG ·
Sandoz Pharmaceuticals AG ·
PT Novartis Indonesia Sandoz ·
Syntek Ilac Hammaddeleri San. ve Tic. AS ·
Novartis Pharma (Pakistan) Limited ·
Sandoz Iiac Sanayi Ve Ticaret A.S. ·
Novartis Pharma AG ·
Novartis foundation for sustainable development ·
Novartis Pharma S.A.E. |
CAPITAL STRUCTURE
As
on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,200,000 |
Equity Shares |
Rs.10/- each |
Rs.32.000
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 |
32.000 |
32.000 |
32.000 |
|
(b) Reserves & Surplus |
3216.800 |
2662.900 |
2253.600 |
|
(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) |
3248.800 |
2694.900 |
2285.600 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
197.900 |
216.700 |
247.200 |
|
(c) Other long term
liabilities |
20.100 |
20.700 |
15.500 |
|
(d) long-term provisions |
168.300 |
157.400 |
130.300 |
|
Total
Non-current Liabilities (3) |
386.300 |
394.800 |
393.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5687.500 |
6234.400 |
6871.200 |
|
(b) Trade payables |
3036.900 |
3068.200 |
3370.600 |
|
(c) Other current liabilities |
278.100 |
273.100 |
249.200 |
|
(d) Short-term provisions |
114.700 |
108.800 |
68.700 |
|
Total
Current Liabilities (4) |
9117.200 |
9684.500 |
10559.700 |
|
|
|
|
|
|
TOTAL |
12752.300 |
12774.200 |
13238.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4203.800 |
4530.400 |
4762.800 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
339.600 |
180.900 |
409.700 |
|
(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 |
600.800 |
519.700 |
519.100 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5144.200 |
5231.000 |
5691.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5210.000 |
4619.200 |
4251.000 |
|
(c) Trade receivables |
1381.800 |
1656.400 |
1979.000 |
|
(d) Cash and cash equivalents |
14.200 |
46.000 |
7.800 |
|
(e) Short-term loans and
advances |
985.000 |
1172.100 |
1308.900 |
|
(f) Other current assets |
17.100 |
49.500 |
0.000 |
|
Total
Current Assets |
7608.100 |
7543.200 |
7546.700 |
|
|
|
|
|
|
TOTAL |
12752.300 |
12774.200 |
13238.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Sale of Products [Net] |
12162.000 |
13438.000 |
12046.000 |
|
|
Sale of Service |
510.000 |
1090.000 |
1743.000 |
|
|
Other Operating Revenue |
203.000 |
171.000 |
91.000 |
|
|
Other Income |
57.000 |
25.000 |
44.000 |
|
|
TOTAL |
12932.000 |
14724.000 |
13924.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
12050.000 |
14105.000 |
13366.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
882.000 |
617.000 |
558.000 |
|
|
|
|
|
|
|
Less |
TAX |
328.000 |
208.000 |
102.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
554.000 |
409.000 |
456.000 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2663.000 |
2155.000 |
1699.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
3217.000 |
2663.000 |
2155.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2451.200 |
2293.700 |
2509.500 |
|
|
Components and Stores parts |
51.300 |
10.600 |
13.600 |
|
|
TOTAL
IMPORTS |
2502.500 |
2304.300 |
2523.100 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
173.13 |
127.81 |
142.50 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.30 |
2.78 |
3.29 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.11 |
4.90 |
4.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.23 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.75 |
2.31 |
3.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.83 |
0.78 |
0.71 |
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 |
32.000 |
32.000 |
32.000 |
|
Reserves & Surplus |
2253.600 |
2662.900 |
3216.800 |
|
Net
worth |
2285.600 |
2694.900 |
3248.800 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
6871.200 |
6234.400 |
5687.500 |
|
Total
borrowings |
6871.200 |
6234.400 |
5687.500 |
|
Debt/Equity
ratio |
3.006 |
2.313 |
1.751 |
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) |
|
Revenue from operation |
13880.000 |
14699.000 |
12875.000 |
|
|
|
5.901 |
(12.409) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operation |
13880.000 |
14699.000 |
12875.000 |
|
Profit |
456.000 |
409.000 |
554.000 |
|
|
3.29% |
2.78% |
4.30% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION
DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
26/06/2014 |
|||||||
|
Lodging No.:- |
ITXAL/1214/2014 |
Filing Date:- |
26/06/2014 |
Reg. No.:- |
ITXA/1445/2014 |
Reg. Date:- |
20/09/2014 |
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX-7, |
Respondent:- |
SANDOZ PRIVATE LIMITED |
|
Petn.Adv.:- |
SHEHNAZ (SHEROO) VISPY BHARUCHA
(DHURUWALL) (596) |
Resp.Adv.:- |
Kanga and Company (246) |
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Last Date:- |
30/09/2014 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Last Coram:- |
ACCORDING TO SITTING LIST |
|
ACCORDING TO SITTING LIST |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
PERFORMANCE / OPERATIONS
SALES
Sales reduced by 9.50% (Rs. 1,276 Mio) primarily due to lower demand in
export markets.
Export sales increased by Rs. 1,234 Million mainly arising out of products of Kalwe and Turbhe plants. Increase in export sales as compared to earlier year amounts to 11.88%.
PROFIT
Profit increased during the year mainly on account of higher sales and better profitability.
BACKGROUND
Subject was incorporated on March 30, 1995 as Sandoz Pharma (India)
Private Limited. The name of the company was changed to Sandoz Private Limited
on April 23, 2003.
Business Segments
The company is engaged in the pharmaceuticals business, having two main business segments which are manufacturing and trading of products and providing services.
A Products:
The product portfolio comprises of:
(1) Prescription medicines which are provided to patients through healthcare professionals. These are mainly products of original research of the Novartis group.
(2) Therapeutic segments such as Cardiovascular, Antibiotics and Antimycobacterials.
(3) Over the counter products mainly dealing in Nasal Sprays.
B Services:
The service portfolio comprises of services rendered in development activities for group companies and consignment agency services rendered to a group company.
C Segment revenue in each of the above business segments primarily includes Sales, Service Income, Export Incentives, Other Operating Revenues and Other Income.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Term loan from
Banks |
4631.000 |
11689.000 |
|
Intercorporate deposits |
48338.000 |
45980.000 |
|
|
|
|
|
Total |
52969.000 |
57669.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90158196 |
28/03/2007 * |
1,080,000,000.00 |
Standard Chartered Bank |
90, M G Road,, Fort,, Mumbai, Maharashtra - 400001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Brands and trade marks
· Trade marks
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.62.62 |
|
|
1 |
Rs.94.39 |
|
Euro |
1 |
Rs.67.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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.