MIRA INFORM REPORT

 

 

Report No. :

321016

Report Date :

08.05.2015

 

IDENTIFICATION DETAILS

 

Name :

ADACHI NATURAL POLYMER PRIVATE LIMITED

 

 

Registered Office :

C-1, 91/15 GIDC, Estate Phase - 1, Vatva, Ahmadabad - 382445, Gujarat

 

 

Tel. No.:

91-79-25831375

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

04.08.2011

 

 

Com. Reg. No.:

04-066638

 

 

Capital Investment / Paid-up Capital :

Rs. 16.500 Million

 

 

CIN No.:

[Company Identification No.]

U24100GJ2011PTC066638

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMA10995F

 

 

PAN No.:

[Permanent Account No.]

AAJCA6984F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Guar, Gum Tamarind and Starch Derivatives.

 

 

No. of Employees :

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (32)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 83000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct 

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The company has reported sound operational performance and achieved topline growth of 30.47% and it has maintained profitability margins at 2.90%.

 

However, rating remain constrained on account of company’s moderate financial risk profile with low net worth base and leveraged capital structure of the company.

 

However, trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of low net worth base, the company can be considered for business dealing 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 – 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 = “BB”

Rating Explanation

Inadequate credit quality and high credit risk

Date

21.04.2015

 

Rating Agency Name

CARE

Rating

Short term bank facilities = “A4”

Rating Explanation

Minimal degree of safety and very high credit risk

Date

21.04.2015

 

 

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 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr Vinodchandra Shanabhai Patel

Designation :

Director

Contact No.:

91-9825006759

Date :

05.05.2015

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

C-1, 91/15 GIDC, Estate Phase - 1, Vatva, Ahmadabad - 382445, Gujarat, India

Tel. No.:

91-79-25831375/ 25831376

Mobile No.:

91-9825006759 (Mr Vinodchandra Shanabhai Patel)

Fax No.:

91-79-25893255

E-Mail :

info@adachigroup.com

adachi@adachigroup.com

garypatel@gmail.com

Website :

www.adachigroup.com

Area :

1,000 sq. ft.

Location :

Owned

 

 

Corporate Office/ Factory 2 :

C-1, 91/ 14, Phase I, ‘F’ Road, GIDC, Vatva, Ahmedabad – 382445, Gujarat, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Mihir Vinodbhai Patel

Designation :

Director

Address :

28 Nirant Park House Owners Association, Opposite Sun and Step Club Ahmedabad – 380061, Gujarat, India 

Date of Birth/Age :

09.11.1974

Date of Appointment :

04.08.2011

DIN No.:

01407305

Other Directorship :

S.NO.

CIN/LLPIN

NAME OF THE COMPANY/ LLP

CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER

DATE OF APPOINTMENT AT CURRENT DESIGNATION

ORIGINAL DATE OF APPOINTMENT

DATE OF CESSATION

COMPANY/ LLP STATUS

DEFAULTING STATUS

1

U45209GJ2005NPL046417

VATVA INDUSTRIAL ESTATE INFRASTRUCTURE DEVELOPMETN LIMITED

DIRECTOR

01-10-2006

01-10-2006

-

ACTIVE

NO

2

U74900GJ2008PTC055602

ADACHI BIO ENERGY PRIVATE LIMITED

DIRECTOR

04-12-2008

04-12-2008

-

ACTIVE

NO

3

U45201GJ2009PTC058910

SHREE BHAVANI INFRA SPACE PRIVTE LIMITED

DIRECTOR

16-12-2009

16-12-2009

08-04-2013

ACTIVE

NO

4

U45209GJ2005NPL046416

NOVEL INFRASTRUCTURE LIMITED

DIRECTOR

01-10-2010

01-10-2010

-

ACTIVE

NO

5

U24100GJ2011PTC066638

ADACHI NATURAL POLYMER PRIVATE LIMITED

DIRECTOR

04-08-2011

04-08-2011

-

ACTIVE

NO

6

U52100GJ2011PTC068313

P & R TRADELINKS PRIVATE LIMITED

DIRECTOR

15-03-2014

15-03-2014

-

ACTIVE

NO

7

U36911GJ2010PTC062890

VARDHMAN GOLDLINE PRIVATE LIMITED

DIRECTOR

01-10-2014

04-09-2014

-

ACTIVE

NO

8

AAC-0379

BHAVANI PROCON LLP

DESIGNATED PARTNER

28-01-2014

28-01-2014

-

ACTIVE

NO

 

 

Name :

Mr. Vinodchandra Shanabhai Patel

Designation :

Director

Address :

28, Nirant Park House Owners Association, Opposite Sun and Step Club, Ahmedabad – 380061, Gujarat, India 

Date of Birth/Age :

15.05.1947

Date of Appointment :

04.08.2011

DIN No.:

02301186

Other Directorship :

S.NO.

CIN/LLPIN

NAME OF THE COMPANY/ LLP

CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER

DATE OF APPOINTMENT AT CURRENT DESIGNATION

ORIGINAL DATE OF APPOINTMENT

COMPANY/ LLP STATUS

DEFAULTING STATUS

1

U74900GJ2008PTC055602

ADACHI BIO ENERGY PRIVATE LIMITED

DIRECTOR

04-12-2008

04-12-2008

ACTIVE

NO

2

U24100GJ2011PTC066638

ADACHI NATURAL POLYMER PRIVATE LIMITED

DIRECTOR

04-08-2011

04-08-2011

ACTIVE

NO

3

AAC-0379

BHAVANI PROCON LLP

DESIGNATED PARTNER

28-01-2014

28-01-2014

ACTIVE

NO

 

 

Name :

Mr. Gaurav Vinodbhai Patel

Designation :

Director

Address :

28, Nirant Park House Owners Association, Opposite Sun and Step Club, Ahmedabad – 380061, Gujarat, India 

Date of Birth/Age :

15.07.1976

Date of Appointment :

04.08.2011

DIN No.:

02301209

Other Directorship :

S.NO.

CIN/LLPIN

NAME OF THE COMPANY/ LLP

CURRENT DESIGNATION OF THE DIRECTOR/ DESIGNATED PARTNER

DATE OF APPOINTMENT AT CURRENT DESIGNATION

ORIGINAL DATE OF APPOINTMENT

COMPANY/ LLP STATUS

DEFAULTING STATUS

1

U74900GJ2008PTC055602

ADACHI BIO ENERGY PRIVATE LIMITED

DIRECTOR

04-12-2008

04-12-2008

ACTIVE

NO

2

U24100GJ2009PTC057339

SPARKLE REGIES PRIVATE LIMITED

DIRECTOR

24-06-2009

24-06-2009

ACTIVE

NO

3

U45201GJ2009PTC058910

SHREE BHAVANI INFRA SPACE PRIVTE LIMITED

DIRECTOR

16-12-2009

16-12-2009

ACTIVE

NO

4

U24100GJ2011PTC066638

ADACHI NATURAL POLYMER PRIVATE LIMITED

DIRECTOR

04-08-2011

04-08-2011

ACTIVE

NO

5

U40107GJ2012PTC068784

SYNERGIA BIOMETHANE PRIVATE LIMITED

MANAGING DIRECTOR

01-01-2013

25-02-2012

ACTIVE

NO

6

U52100GJ2011PTC068313

P & R TRADELINKS PRIVATE LIMITED

DIRECTOR

06-08-2013

06-08-2013

ACTIVE

NO

7

U24231GJ1989PLC011882

MAYUR DYECHEM INTERMEDIATES LIMITED

ADDITIONAL DIRECTOR

01-01-2014

01-01-2014

CONVERTED TO LLP AND DISSOLVED

NO

8

U36911GJ2010PTC062890

VARDHMAN GOLDLINE PRIVATE LIMITED

DIRECTOR

01-10-2014

04-09-2014

ACTIVE

NO

9

AAC-0379

BHAVANI PROCON LLP

DESIGNATED PARTNER

28-01-2014

28-01-2014

ACTIVE

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Mihir Vinodbhai Patel

587000

35.58

Gaurav Vinodbhai Patel

587000

35.58

Komal M. patel

158000

9.58

Vihangi G. Patel

158000

9.58

Ranjanaben Patel

129000

7.82

Vinodchandra Shanabhai Patel

30000

1.82

Jayantibhai Patel

1000

0.06

Total

 

1650000

100.00

 

 

 

 

 

AS ON 30.09.2014

 

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Guar, Gum Tamarind and Starch Derivatives.

 

 

Products/ Services :

·         Guar Gum Powder

·         Tamarind Kernal Powder

·         Fast Hydration Guar Gum Powder

·         Deploymerized Guar Gum

·         Hydrolysed Guar Gum,

·         Carboxy Methyl Guar gum, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

·         Guar

·         Gum Tamarind

·         Starch Derivatives

Countries :

·         South East Asia

·         Pakistan

·         America

·         South America

 

 

Imports :

 

Products :

Raw Material

Countries :

Europe

 

 

Terms :

 

Selling :

Credit

 

 

Purchasing :

Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Lemberdi, Europe

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Prithvi Industries, Andhra Pradesh

 

 

Customers :

 

Reference:

Clarient, Europe

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

Wholesalers, Retailers and End Users

 

·         Halliburtan

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

Bank Name:

State Bank of India

Branch:

Vatva Industrial Estate Branch, Vatva Ahmedabad – 382445, Gujarat, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Cash Credit = Rs. 45.000 Million

Term Loan = Rs. 1.000 Million 

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         State Bank of India, 1, Sahajanand Complex, Shahibaug, Ahmedabad – 380004, Gujarat, India, India

 

 

Facilities :

 

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loan from Banks

 

 

Loans for Purchase of Fixed Assets

1.308

2.216

Loan for Purchase of Car

0.143

0.360

Term Loan from Others

1.330

0.106

 

 

 

SHORT TERM BORROWINGS

 

 

Working Capital/ Cash Credit Loans from Bank

43.068

20.766

Total

 

45.849

23.448

 

NOTES:

 

LONG TERM BORROWINGS:

 

·         Term Loan from Bank for Purchase of fixed assets are secured by equitable mortgage of Land and building and hypothecation of plant and machineries and personal guarantee of all directors. The Loans are repayable in monthly equated installments over 57 months from January 2011. (Rate of interest: 6 Months libor plus 8% spread)

 

·         Vehicle Loan from Bank for Purchase of cars are secured by hypothecation of Cars. The Loans are repayable in monthly equated installments over 36 monthly installments.

 

SHORT TERM BORROWINGS:

 

·         Loans taken for working capital from banks are secured by equitable mortgage of land and building and hypothecation of plant and machineries as well as hypothecation of stock, book debt and personal guarantee of all directors.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Manubhai and Shah.

Chartered Accountants

Address :

2ND Floor, 'B' Wing, Premium House, Near Gandhigram Railwat Station, Navrangpura, Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-26580956/ 26580966/ 26585064/ 26582484

Fax No.:

91-79-26583573

E-Mail :

info@msglobal.co.in

Website :

www.msglobal.co.in

Income-tax PAN of auditor or auditor's firm :

AAFFM2086M

 

 

Enterprise over which key management person exercise significant influence :

·         Bhavani Chemicals

Address: Ahmedabad, Gujarat, India

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,000,000

Equity Shares

Rs. 10/- each

Rs. 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,650,000

Equity Shares

Rs. 10/- each

Rs. 16.500 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

16.500

16.500

16.500

(b) Reserves & Surplus

12.539

6.212

2.841

(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)

29.039

22.712

19.341

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

43.318

9.660

3.611

(b) Deferred tax liabilities (Net)

1.218

1.323

0.902

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

44.536

10.983

4.513

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

43.068

20.766

11.365

(b) Trade payables

12.144

17.169

35.881

(c) Other current liabilities

3.240

2.361

1.771

(d) Short-term provisions

0.285

0.013

0.072

Total Current Liabilities (4)

58.737

40.309

49.089

 

 

 

 

TOTAL

132.312

74.004

72.943

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

26.822

23.843

23.901

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(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

33.019

0.915

0.934

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

59.841

24.758

24.835

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

9.132

5.419

25.931

(c) Trade receivables

43.894

28.527

15.843

(d) Cash and cash equivalents

13.213

10.603

1.580

(e) Short-term loans and advances

6.232

4.697

4.754

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

72.471

49.246

48.108

 

 

 

 

TOTAL

132.312

74.004

72.943

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

216.491

165.929

243.110

 

 

Other Income

3.649

0.968

1.240

 

 

TOTAL                                     (A)

220.140

166.897

244.350

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

158.165

116.764

214.614

 

 

Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade

0.124

2.168

(0.753)

 

 

Employees Benefits Expense

10.808

9.868

2.654

 

 

Other Expenses

34.802

26.761

19.392

 

 

TOTAL                                     (B)

203.899

155.561

235.907

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

16.241

11.336

8.443

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

3.269

2.217

3.184

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

12.972

9.119

5.259

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

3.812

3.327

1.717

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

9.160

5.792

3.542

 

 

 

 

 

Less

TAX                                                                  (H)

2.833

2.421

0.701

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

6.327

3.371

2.841

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.83

2.04

1.72

 

 

Expected Sales (2014-2015): Rs.220.000 Million

 

The above information has been parted by Mr Vinodchandra Shanabhai Patel (Director).

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

2.92

2.03

1.17

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

7.50

6.83

3.47

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.92

7.83

4.86

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.32

0.26

0.18

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

2.97

1.34

0.77

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.23

1.22

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 Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

16.500

16.500

16.500

Reserves & Surplus

2.841

6.212

12.539

Net worth

19.341

22.712

29.039

 

 

 

 

long-term Borrowings

3.611

9.660

43.318

Short-term Borrowings

11.365

20.766

43.068

Total borrowings

14.976

30.426

86.386

Debt/Equity ratio

0.774

1.340

2.975

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

243.110

165.929

216.491

 

 

(31.747)

30.472

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

243.110

165.929

216.491

Profit

2.841

3.371

6.327

 

1.17%

2.03%

2.92%

 

 

 

 

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

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

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 CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10352518

02/11/2012 *

57,900,000.00

STATE BANK OF INDIA

1, SAHAJANAND COMPLEX,, SHAHIBAUG, AHMEDABAD - 380004, GUJARAT, INDIA

B62724802

 

* Date of charge modification

 

 

UNSECURED LOANS

 

UNSECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

From Directors

29.670

3.609

From Shareholders

9.304

1.806

Others

1.563

1.563

Total

 

40.537

6.978

 

NOTES:

 

LONG TERM BORROWINGS:

Other unsecured loan includes venture capital finance of Rs.1.563 Million availed from Small Farmer's Agri-Business consortium repayable in full at the time of payment of last installment of term loan availed from State Bank of India.

 

 

OPERATIONS:

 

This is the third year from the commencement of business, the Company has earned net profit of Rs.6.327 Million as compared to previous year Rs.3.371 Million which shown increase in the profit compare to previous year, The company is trying hard to achieve greater profit in coming years, to strengthen the economic position of the company.

 

 

 

 

FIXED ASSETS:

 

·         Land

·         Factory building

·         Plant and machinery

·         Electrical installation

·         Furniture and fixtures

·         Vehicles

·         Mobile

·         Office building

·         Office equipment

·         Computers

·         Air conditioners

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 63.88

UK Pound

1

Rs. 97.21

Euro

1

Rs. 72.51

 

 

INFORMATION DETAILS

 

Information Gathered by :

REK

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

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

 

32

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.