MIRA INFORM REPORT
|
Report No. : |
321863 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
“Spic House”, 88 Mount Road, Guindy, Chennai – 600032, Tamilnadu |
|
Tel No. : |
91-44-22350245 |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
18.12.1969 |
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Com. Reg. No.: |
18-005778 |
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Capital
Investment / Paid-up Capital : |
Rs. 2161.403 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L11101TN1969PLC005778 |
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|
|
Legal Form : |
Public limited liability company. Company’s shares are listed on the
Stock Exchanges. |
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|
Line of Business
: |
Manufacturing and Selling Urea and Nitrogenous chemical fertilizer. |
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|
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5800000 |
|
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track. The rating is constrained on account of company’s weak financial risk profile
marked by below average operational performance and moderate liquidity
position of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow. 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 |
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Restricted |
C2 |
|
Off-credit |
D |
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 DENIED
Management Non Co-Operative (Tel No.: 91-44-22350246)
LOCATIONS
|
Registered Office : |
“Spic House”, 88 Mount Road, Guindy, Chennai – 600032, Tamilnadu,
India |
|
Tel. No.: |
91-44-22350245 |
|
Fax No.: |
91-44-22352163 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30. 07.2014
|
Name : |
Ashwin C Muthiah |
|
Designation : |
Chairman |
|
Address : |
B.E. (Mech.), Management Studies, University of Detroir, USA |
|
|
|
|
Name : |
T K Arun |
|
Designation : |
Director |
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|
Name : |
B Elangovan |
|
Designation : |
Director |
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|
Name : |
B Narendran |
|
Designation : |
Director |
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|
Name : |
S Shankar |
|
Designation : |
Director |
|
|
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|
Name : |
K K Rajagopalan |
|
Designation : |
Whole-Time Director |
|
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|
|
Name : |
S R Ramakrishnan |
|
Designation : |
Whole-Time Director |
KEY EXECUTIVES
|
Name : |
M B Ganesh |
|
Designation : |
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Shareholder Details File Not Available
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling Urea and Nitrogenous chemical fertilizer. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
ASV N Ramana Tower, 52, Venkanarayan Road, Chennai – 600 017,
Tamilnadu, India |
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Subsidiaries
: |
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Associates : |
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Jointly controlled
entities : |
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Key Management
Personnel : |
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Enterprises
owned by / over which Key Management
Personnel is able to exercise significant
influence |
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Others : |
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CAPITAL STRUCTURE
As On 31.03.2014
Authorised Capital: Rs. 4250.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 2161.403
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 |
2161.403 |
2161.403 |
1787.784 |
|
(b) Reserves & Surplus |
(121.586) |
(780.204) |
(12111.841) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.0 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.0 |
|
Total
Shareholders’ Funds (1) + (2) |
2039.817 |
1381.199 |
(10324.057) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
570.004 |
1540.149 |
9029.820 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
204.074 |
1063.333 |
91.038 |
|
(d) long-term
provisions |
26.661 |
26.166 |
31.369 |
|
Total Non-current
Liabilities (3) |
800.739 |
2629.648 |
9152.227 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3676.847 |
0.000 |
0.000 |
|
(b) Trade
payables |
6135.399 |
1865.879 |
2706.918 |
|
(c) Other
current liabilities |
1524.199 |
1044.143 |
6357.974 |
|
(d) Short-term provisions |
29.545 |
67.134 |
117.980 |
|
Total Current
Liabilities (4) |
11365.990 |
2977.156 |
9182.872 |
|
|
|
|
|
|
TOTAL |
14206.546 |
6988.003 |
8011.042 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3087.735 |
4121.348 |
4476.136 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
65.774 |
35.589 |
12.277 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
162.352 |
428.237 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
390.718 |
351.786 |
377.453 |
|
(e) Other
Non-current assets |
319.842 |
319.841 |
0.000 |
|
Total Non-Current
Assets |
3864.069 |
4990.916 |
5294.103 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1837.488 |
554.233 |
873.424 |
|
(c) Trade
receivables |
152.672 |
131.390 |
109.908 |
|
(d) Cash
and cash equivalents |
160.841 |
391.000 |
140.979 |
|
(e)
Short-term loans and advances |
7808.145 |
919.564 |
1589.582 |
|
(f) Other
current assets |
383.331 |
0.900 |
3.046 |
|
Total
Current Assets |
10342.477 |
1997.087 |
2716.939 |
|
|
|
|
|
|
TOTAL |
14206.546 |
6988.003 |
8011.042 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
13454.719 |
20689.134 |
24385.924 |
|
|
|
Other Income |
84.758 |
158.961 |
115.130 |
|
|
|
TOTAL |
13539.477 |
20848.095 |
24501.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
7948.641 |
12058.775 |
13879.897 |
|
|
|
Purchase of Stock-in-Trade |
(0.055) |
47.667 |
208.891 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(18.708) |
90.790 |
127.938 |
|
|
|
Employees benefit expense |
373.004 |
380.176 |
396.765 |
|
|
|
Power and fuel |
3510.144 |
5887.387 |
0.000 |
|
|
|
Other Expenses |
1269.030 |
2001.113 |
8893.059 |
|
|
|
TOTAL |
13082.056 |
20465.908 |
23506.550 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
457.421 |
382.187 |
994.504 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
209.182 |
440.027 |
798.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
248.239 |
(57.840) |
195.660 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
436.721 |
431.937 |
444.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE EXCEPTIONAL ITEMS AND
TAX |
(188.482) |
(489.777) |
(248.989) |
|
|
|
|
|
|
|
|
|
Add |
Exceptional Items |
847.100 |
11577.500 |
240.147 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
658.618 |
11087.723 |
(8.842) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(36.429) |
(71.921) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
658.618 |
11051.294 |
(63.079) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share |
3.15 |
65.09 |
(1.72) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.89 |
53.41 |
(0.26) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.39 |
1.84 |
4.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.33) |
(7.21) |
(0.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09) |
(0.35) |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.08 |
1.12 |
(0.87) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.67 |
0.30 |
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 |
1787.784 |
2161.403 |
2161.403 |
|
Reserves & Surplus |
(12111.841) |
(780.204) |
(121.586) |
|
Net
worth |
(10324.057) |
1381.199 |
2039.817 |
|
|
|
|
|
|
long-term borrowings |
9029.820 |
1540.149 |
570.004 |
|
Short term borrowings |
0.000 |
0.000 |
3676.847 |
|
Total
borrowings |
9029.820 |
1540.149 |
4246.851 |
|
Debt/Equity
ratio |
(0.875) |
1.115 |
2.082 |
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 |
24385.924 |
20689.134 |
13454.719 |
|
|
|
(15.160) |
(34.967) |
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 |
24385.924 |
20689.134 |
13454.719 |
|
Profit |
(63.079) |
11051.294 |
658.618 |
|
|
(0.26%) |
53.42% |
4.90% |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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) |
No |
|
21] |
Market information |
----------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
No |
|
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
CHENNAI COURT
CASE STATUS
INFORMATION SYSTEM
|
Case Status : |
Pending |
|
Status Of : |
APPLICATION 1473
OF 2015 |
|
Litigants: |
M/S JAISWAL
TRADING COMPANY Vs. M/S SOUTHERN PETROCHEMICALS |
|
Pet’s Advocate : |
M/S. VS RAJAN ASSOCIATES |
|
Res’s Advocate : |
M/S. ANAND ABDUL
AND VINODH |
|
Last Listed on : |
Thursday, March
05, 2015 |
|
Case Updated on
: |
Wednesday,
March04, 2015 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
CORPORATE INFORMATION
Southern Petrochemical Industries Corporation
Limited (the Company), having its registered office at Chennai is a
Public Limited Company, incorporated under the provisions of the Companies Act,
1956. Its shares are listed on National Stock Exchange of India. The Company is
manufacturing and selling Urea, a Nitrogenous chemical fertilizer and has its
manufacturing facility at Tuticorin.
INDUSTRY OVERVIEW:
India is expected to have a record food grain
output in the year 2013-14 of 263.200 million tonnes compared to 257.130
million tonnes in the previous year. (Source Press Information Bureau, Ministry
of Agriculture, GoI) For the year 2014-15, there is an apprehension of less
than normal rainfall due to the El Nino effect. (Source: Business Standard 16
Apr 2014). However, in view of the lowest nutrient price for Urea from amongst
all the available nutrients, we do not anticipate any adverse impact in the
market for Urea. India has 1260Million mouths to feed. In comparison, China has
139 crores population. With a population growth of 1.24% in India to 0.61% in
China, by the year 2030, the Indian population is expected to surpass China’s
population and become the most populous country in the world. This is going to
exert enormous strain on food grain availability. During the year 2013-14, the
GoI imported 7.08 MMT of Urea. With such a huge deficit in indigenous
urea production and an ever growing demand, the company doesn’t anticipate any
problem in marketing all its capacity
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER AND NINE MONTHS ENDED 31SR DECEMBER 2014
(Rs. in Million)
|
Sr. No. |
Particulars |
3 months ended |
Preceding 3 months ended |
Year to date figures for current period ended |
|
31.12.2014 |
30.09.2014 |
31.112.2014 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
Part I |
|
|
|
|
|
1. |
Income from
Operations |
|
|
|
|
|
a)
Net Sales / Income from Operations |
213.844 |
7997.380 |
15985.721 |
|
|
b)
Other Operating Income |
27.247 |
32.889 |
96.867 |
|
|
Total
Income from Operations (net) |
241.091 |
9030.269 |
16082.588 |
|
2. |
Expenditure |
|
|
|
|
|
a)
Cost of materials consumed |
6.355 |
4912.816 |
9790.938 |
|
|
b)
Purchase of stock-in-trade |
(0.054) |
0.027 |
0.000 |
|
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
154.815 |
(111.864|) |
16.965 |
|
|
d)
Employee benefits expense |
131.243 |
90.261 |
314.672 |
|
|
e)
Depreciation and amortisation expense |
23.568 |
103.081 |
234.967 |
|
|
f) Power and Fuel Charges |
34.921 |
2009.949 |
4012.505 |
|
|
g)
Other expenses |
157.758 |
603.059 |
1265.130 |
|
|
Total Expenses |
508.606 |
7610.329 |
15635.177 |
|
3. |
Profit/ (Loss) from Operations
before Other Income, Exchange gain/(loss), Finance costs and Exceptional
items (1-2) |
(267.515) |
(419.940 |
447.411 |
|
4a. |
Other Income |
47.274 |
1.526 |
53.543 |
|
4b. |
Exchange
Gain / (Loss) (Net) |
(145.007) |
(182.213) |
(310.386) |
|
5. |
Profit /(Loss)
from Ordinary activities before finance costs and Exceptional items (3+4a+4b) |
(365.248) |
239.253 |
190.567 |
|
6. |
Finance Costs |
34.965 |
72.723 |
215.166 |
|
7. |
Profit / (Loss) from ordinary activities after
Finance costs but before Exceptional items (5-6) |
(400.214) |
166.530 |
(27.598) |
|
8. |
Exceptional items (a) Loss on sale of Business undertaking (b) Loss on sale investment (c) Provision for diminution in value of
investments written back (d) Excess Liability written back (e) Provision for impairment loss |
- - - - - |
- - - - - |
- - - - - |
|
9. |
Profit/ (Loss) from ordinary activities
before tax (7+8) |
(400.214) |
166.530 |
(27.598) |
|
10. |
Tax expenses |
-- |
-- |
-- |
|
11. |
Net Profit / (Loss) from ordinary
activities after tax (9-10) |
(400.214) |
166.530 |
(27.598) |
|
12. |
Extraordinary
items |
-- |
-- |
-- |
|
13. |
Net Profit /
(Loss) for the period (11+12) |
(400.214) |
166.530 |
(27.598) |
|
14. |
Paid-up equity share capital (Face Value of Rs. 10 per share) |
20361.03 |
20364.03 |
20364.03 |
|
15. |
Reserve excluding Revaluation reserve |
|
|
|
|
16. |
Earnings Per Share (EPS) before and after extraordinary items (of Rs.
10/- each) a) Basic b) Diluted |
(1.99) (1.99) |
0.80 0.80 |
(0.20) (0.20) |
|
|
|
|
|
|
|
Part II |
|
|
|
|
|
A. |
PARTIULARS OF SHAREHOLDINGS |
|
|
|
|
|
Public
Shareholding |
|
|
|
|
|
- Number of Shares |
81692288 |
81402638 |
81692288 |
|
|
- Percentage of Shareholding |
43.79 |
43.63 |
43.79 |
|
|
Promoters and
Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
10044904 |
10044904 |
10044904 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
9.58 |
9.58 |
9.58 |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
4.93 |
4.93 |
4.93 |
|
|
b) Non
Encumbered |
|
|
|
|
|
- Number of Shares |
94836344 |
95125994 |
94836344 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
90.42 |
90.42 |
90.42 |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
46.57 |
46.57 |
46.57 |
|
PARTICULARS |
3months ended 31st December
2014 |
|
B INVESTORS COMPLAINTS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
Nil |
|
Disposed during the quarter |
Nil |
|
Remaining unresolved at the end of the quarter |
Nil |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER AND NINE MONTHS ENDED 31
DECEMBER 2014
(Rs. in Million)
|
Sr. No. |
Particulars |
3 months ended |
Preceding 3 months ended |
Year to date figures for current period ended |
|
31.12.2014 |
30.09.2014 |
31.112.2014 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
A |
Segment Revenue |
|
|
|
|
|
a)
Agro Inputs |
222.882 |
8012.441 |
16033.413 |
|
|
b)
Others |
18.755 |
17.257 |
48.147 |
|
|
c)
Unallocated Income |
(0.546) |
(0.571) |
(1.028 |
|
|
Total |
241.091 |
9030.269 |
16082.588 |
|
|
|
|
|
|
|
B |
Segment Results |
|
|
|
|
|
Profit/(Loss)
(Before Tax and Interest) For
each Segment |
|
|
|
|
|
a)
Agro Input |
(313.664) |
286.270 |
325.994 |
|
|
b)
Others |
(25.042) |
(1.549) |
(29.316) |
|
|
Total |
(338.707) |
284.721 |
296.678 |
|
|
|
|
|
|
|
|
Less:
Finance Cost |
|
|
|
|
|
Add
:Other Net Unallocable Income / (Expenses) |
34.966 |
72.723 |
218.166 |
|
|
Total Profit Loss Before Taxation |
(400.214) |
166.530 |
(27.598) |
|
|
|
|
|
|
|
C |
Capital Employed (Segment
Assets - Segment Liabilities) |
|
|
|
|
|
a)
Agro Inputs |
2408.049 |
2027.945 |
2408.049 |
|
|
b)
Others |
12.416 |
37.416 |
12.416 |
|
|
c)
Unallocated |
(408.246) |
347.072 |
(408.246) |
|
|
Total |
2012.219 |
2412.433 |
2012.219 |
Note
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. 64.05 |
|
|
1 |
Rs. 99.03 |
|
Euro |
1 |
Rs. 71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.