MIRA INFORM REPORT
|
Report No. : |
313672 |
|
Report Date : |
23.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAJASTHAN DRUGS AND PHARMACEUTICALS LIMITED |
|
|
|
|
Registered Office
: |
Road No.12, VKI
Area, Jaipur – 302013, Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.11.1978 |
|
|
|
|
Com. Reg. No.: |
17-001823 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.49.861 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24232RJ1978GOI001823 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRR00026F |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Medicine. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 31000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a government owned enterprise. It is an established company
having satisfactory track record. Company has incurred loss from its operational activities during 2014. However, the rating takes into consideration strong support that
company receives from Government of India. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong government support, 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 – 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 |
CARE |
|
Rating |
Long term bank facilities=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
04.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities=A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
04.04.2014 |
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. Vinod Singhai |
|
Designation : |
Factory Manager |
|
Contact No.: |
91-9414447450 |
|
Date : |
20.03.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Road No.12, VKI Area,
Jaipur – 302013, Rajasthan, India |
|
Tel. No.: |
91-141-4107108 / 4107104 / 4107109 / 4107105 |
|
Mobile No.: |
91-9414447450 (Mr. Vinod Singhai) |
|
Fax No.: |
91-141-2330461 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 29.12.2014
|
Name : |
Mr. Suresh Balappa Bhadrannavar |
|
Designation : |
Managing Director |
|
Address : |
38-A-1,6th Cross, 2nd Main, A.D. Halli,
Basaveshwara Nagar, Rajajinagar, Bangalore - 560001, Karnataka, India |
|
Date of Birth/Age : |
01.05.1959 |
|
Date of Appointment : |
15.10.2014 |
|
DIN No.: |
07013053 |
|
|
|
|
Name : |
Mr. Arvind Kumar Gupta |
|
Designation : |
Director |
|
Address : |
B - 8, 10 - B Scheme, Gopal Pura Bye Pass, Jaipur - 302015, Rajasthan,
India |
|
Date of Birth/Age : |
07.09.1955 |
|
Date of Appointment : |
15.04.1996 |
|
DIN No.: |
00127056 |
|
|
|
|
Name : |
Mr. Arun Kumar Panda |
|
Designation : |
Director |
|
Address : |
C-83, Palaspalli, Bhubaneswar - 751020, Orissa, India |
|
Date of Birth/Age : |
30.04.1960 |
|
Date of Appointment : |
19.08.2011 |
|
DIN No.: |
00786320 |
|
|
|
|
Name : |
Mr. Shambhu Kallolikar |
|
Designation : |
Director |
|
Address : |
Collector's Bungalow, Mannagudi Road, Tiruvarur - 610001, Tamil Nadu,
India |
|
Date of Birth/Age : |
19.09.1963 |
|
Date of Appointment : |
30.04.2014 |
|
DIN No.: |
00800336 |
|
|
|
|
Name : |
Mr. Mukesh Sharma |
|
Designation : |
Director |
|
Address : |
R-1/ 4,Chambal Gss Colony, Hawa Sarak, Jaipur - 302006, Rajasthan,
India |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
29.10.2014 |
|
DIN No.: |
02087671 |
|
|
|
|
Name : |
Mr. Prakash Tekwani |
|
Designation : |
Director |
|
Address : |
206, Kanwar Nagar, Jaipur - 302003, Rajasthan, India |
|
Date of Birth/Age : |
02.07.1955 |
|
Date of Appointment : |
11.03.2014 |
|
DIN No.: |
02219044 |
|
|
|
|
Name : |
Dr. Badri Ram Meena |
|
Designation : |
Director |
|
Address : |
4335, Govind Rao Ji Ka Rasta, Jaipur - 302002, Rajasthan, India |
|
Date of Birth/Age : |
15.01.1956 |
|
Date of Appointment : |
08.08.2011 |
|
DIN No.: |
03626420 |
|
|
|
|
Name : |
Ms. Monika Verma |
|
Designation : |
Director |
|
Address : |
105, Manak Vihar, Delhi - 110092, India |
|
Date of Birth/Age : |
30.01.1968 |
|
Date of Appointment : |
11.06.2013 |
|
DIN No.: |
06522079 |
|
|
|
|
Name : |
Mr. Naveen Kumar Jain |
|
Designation : |
Director |
|
Address : |
79/1, Shipra Path, Mansarovar, Jaipur - 302020, Rajasthan, India |
|
Date of Birth/Age : |
15.04.1975 |
|
Date of Appointment : |
15.09.2014 |
|
DIN No.: |
06915352 |
KEY EXECUTIVES
|
Name : |
Mr. Vinod Singhai |
|
Designation : |
Factory Manager |
MAJOR SHAREHOLDERS
AS ON 29.12.2014
|
Names of Shareholders |
No. of Shares |
|
The President of India (Though Ministry of Chemicals and Fertilizers
and Pharmaceuticals, GOI), New Delhi |
2544996 |
|
Rajasthan State Industrial Development and Investment Corporation
Limited, Jaipur |
2441097 |
|
Ms. Monika Verma |
2 |
|
Mr. Harn K. A. |
1 |
|
Mr. Suresh Balappa Bhadrannavar |
1 |
|
Mr. Arvind Kumar Gupta |
1 |
|
Mr. Anil Sharma |
1 |
|
Mr. Alok Kumar |
1 |
|
|
|
|
Total |
4986100 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.12.2014
|
Category |
Percentage |
|
Government [Central and State] |
51.00 |
|
Government companies |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Medicine. |
|
|
|
|
Products : |
Medicine |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
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|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
L/C, Cash |
|
|
|
|
Purchasing : |
L/C, Cash |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||
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Bankers : |
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Facilities : |
NOTES: Long Term Borrowings The Working Capital Term Loan is secured by Hypothecation of all the fixed assets (present / future viz. plant and Machineries, Equipments and Other Miscellaneous Fixed Assets and Equitable Mortgage of existing factory Land and Building situated at Road No. 12, VKI Area and Stocks and Book-Debts of the company. Short Term Borrowings The Cash Credit facility is secured by hypothecation of all the stocks including Raw Materials, Packing Materials, Stock-in-process, Finished Goods, Hypothecation of Book Debts and hypothecation of all Fixed Assets (present/ future) viz. Plant 8 Machineries, Equipments and Other Miscellaneous Fixed Assets and Equitable Mortgage of existing factory Land and Building situated at Road No. 12, VKI Area, Jaipur. |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. K. Singhal and Company Chartered Accountants |
|
Address : |
B-144-A, 1st Floor, Mangal Marg , Bapu Nagar, Jaipur – 302015, India |
|
Tel. No.: |
91-141-4050920 |
|
Fax No.: |
91-141-4050921 |
|
E-Mail : |
|
|
PAN No.: |
ALRPS7910B |
|
|
|
|
Membership : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 29.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4986100 |
Equity Shares |
Rs.10/- each |
Rs.49.861 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 |
49.861 |
49.861 |
49.861 |
|
(b) Reserves & Surplus |
(38.918) |
155.055 |
147.067 |
|
(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) |
10.943 |
204.916 |
196.928 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.923 |
15.423 |
30.365 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
45.500 |
45.500 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
48.423 |
60.923 |
30.365 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
152.523 |
161.277 |
100.515 |
|
(b) Trade
payables |
271.218 |
393.217 |
392.782 |
|
(c) Other
current liabilities |
62.144 |
60.466 |
74.333 |
|
(d) Short-term
provisions |
65.083 |
55.514 |
45.957 |
|
Total Current
Liabilities (4) |
550.968 |
670.474 |
613.587 |
|
|
|
|
|
|
TOTAL |
610.334 |
936.313 |
840.880 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
163.786 |
140.895 |
106.025 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.278 |
30.464 |
59.146 |
|
(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) |
18.000 |
18.292 |
16.825 |
|
(d) Long-term Loan and Advances |
76.788 |
69.196 |
57.612 |
|
(e) Other
Non-current assets |
0.000 |
0.169 |
1.109 |
|
Total Non-Current
Assets |
262.852 |
259.016 |
240.717 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
62.356 |
66.612 |
89.443 |
|
(c) Trade
receivables |
257.211 |
517.052 |
489.126 |
|
(d) Cash
and cash equivalents |
22.367 |
86.055 |
14.807 |
|
(e) Short-term
loans and advances |
4.566 |
6.571 |
5.085 |
|
(f) Other
current assets |
0.982 |
1.007 |
1.702 |
|
Total
Current Assets |
347.482 |
677.297 |
600.163 |
|
|
|
|
|
|
TOTAL |
610.334 |
936.313 |
840.880 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
412.005 |
820.991 |
799.187 |
|
|
|
Other Income |
2.259 |
3.481 |
1.624 |
|
|
|
TOTAL (A) |
414.264 |
824.472 |
800.811 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
228.803 |
340.600 |
323.821 |
|
|
|
Cost of Packing Material Consumed |
41.323 |
48.275 |
60.559 |
|
|
|
Purchase of Stock-in-trade |
55.276 |
176.463 |
165.475 |
|
|
|
Direct Manufacturing Expenses |
16.383 |
19.619 |
21.634 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock in trade |
0.570 |
20.066 |
4.771 |
|
|
|
Employee benefit expense |
136.498 |
122.052 |
108.016 |
|
|
|
Other expenses |
56.323 |
57.471 |
63.676 |
|
|
|
Prior Period Items |
0.290 |
(1.189) |
0.039 |
|
|
|
Exceptional Items |
38.042 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
573.508 |
783.357 |
747.991 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(159.244) |
41.115 |
52.820 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
25.151 |
25.947 |
29.137 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(184.395) |
15.168 |
23.683 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
9.957 |
7.419 |
6.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(194.352) |
7.749 |
17.459 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.378) |
(0.238) |
2.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(193.974) |
7.987 |
14.477 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(38.90) |
1.60 |
2.90 |
|
Expected Sales (2014-2015): Rs.350.000 Million (Due to less order)
The above information has been parted by Mr. Vinod Singhai (Factory
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(47.08) |
0.97 |
1.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(38.65) |
5.01 |
6.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(33.05) |
0.87 |
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(17.76) |
0.04 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
14.21 |
0.86 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.63 |
1.01 |
0.98 |
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 |
49.861 |
49.861 |
49.861 |
|
Reserves & Surplus |
147.067 |
155.055 |
(38.918) |
|
Net
worth |
196.928 |
204.916 |
10.943 |
|
|
|
|
|
|
long-term borrowings |
30.365 |
15.423 |
2.923 |
|
Short term borrowings |
100.515 |
161.277 |
152.523 |
|
Total
borrowings |
130.880 |
176.700 |
155.446 |
|
Debt/Equity
ratio |
0.665 |
0.862 |
14.205 |
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 |
799.187 |
820.991 |
412.005 |
|
|
|
2.728 |
(49.816) |
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
|
799.187 |
820.991 |
412.005 |
|
Profit |
14.477 |
7.987 |
(193.974) |
|
|
1.81% |
0.97% |
(47.08%) |
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% |
Yes |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
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 |
Yes |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10235158 |
05/08/2010 |
50,000,000.00 |
BANK OF BARODA |
ROAD NO-1, V. K. I. AREA, JAIPUR, RAJASTHAN - 302013, INDIA |
A92899020 |
|
2 |
10064843 |
16/08/2007 |
30,000,000.00 |
BANK OF BARODA |
ROAD NO 12, VKI AREA, JAIPUR, RAJASTHAN - 302013, INDIA |
A21790134 |
|
3 |
80024051 |
27/01/2006 |
35,000,000.00 |
BANK OF BARODA |
VKIA, JAIPUR, RAJASTHAN - 302015, INDIA |
- |
|
4 |
90071418 |
09/02/2005 |
7,500,000.00 |
BANK OF BARODA |
VKI AREA, JAIPUR, RAJASTHAN, INDIA |
- |
|
5 |
90071149 |
25/08/2004 * |
30,000,000.00 |
BANK OF BARODA |
V.K.I AREA, JAIPUR, RAJASTHAN, INDIA |
- |
|
6 |
90070874 |
03/01/2004 * |
25,000,000.00 |
BANK OF BARODA |
V.K.I AREA, JAIPUR, RAJASTHAN, INDIA |
- |
|
7 |
90070310 |
26/03/2002 * |
20,000,000.00 |
BANK OF BARODA |
V.K.I AREA, JAIPUR, RAJASTHAN, INDIA |
- |
|
8 |
80024053 |
24/12/2013 * |
228,000,000.00 |
BANK OF BARODA |
VKI AREA BRANCH, JAIPUR, RAJASTHAN - 302013, INDIA |
B92460575 |
|
9 |
90069808 |
19/01/1999 * |
15,000,000.00 |
BANK OF BARODA |
V.K.I AREA, JAIPUR, RAJASTHAN, INDIA |
- |
|
10 |
90258061 |
27/01/2006 * |
30,000,000.00 |
BANK OF BARODA |
V.K.I. AREA, JAIPUR, RAJASTHAN, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Air Conditioning and
Ventilation
·
Office Equipments
·
Electrical Installations
·
Pollution Control
Equipments
·
Computers and Peripherals
·
Water Supply and Sewerage
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.62.49 |
|
|
1 |
Rs.92.26 |
|
Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
43 |
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.