MIRA INFORM REPORT
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Report No. : |
322195 |
|
Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHIVA PHARMACHEM LIMITED (w.e.f. 04.07.2011) |
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|
|
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Formerly Known
As : |
SPPL INDIA LIMITED (w.e.f. 01.04.2011) SHIVA PHARMACHEM LIMITED (w.e.f. 30.06.2010) SHIVA PHARMACHEM PRIVATE LIMITED |
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Registered
Office : |
9th Floor, |
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Tel No.: |
91-265-2321418 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.03.1999 |
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Com. Reg. No.: |
04-035615 |
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Capital
Investment / Paid-up Capital : |
Rs.69.502 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1999PLC035615 |
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|
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IEC No.: |
3401001213 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01031C |
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PAN No.: [Permanent Account No.] |
AALFS0672H AAJCS3940B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Multifunctional Intermediates and Speciality
Chemicals. |
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No. of Employees
: |
175 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations seem to be fair. Business is active. Payment terms are
reported to be slow but 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 |
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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 |
26.03.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities=A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
26.03.2015 |
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 (GENERAL DETAILS)
|
Name : |
Ms. Panel |
|
Designation : |
Office Assistant |
|
Contact No.: |
91-265-2351418 |
|
Date : |
12.05.2015 |
LOCATIONS
|
Registered / Corporate Office : |
9th Floor, |
|
Tel. No.: |
91-265-2321418 / 2335432 |
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Mobile No.: |
91-9824443510 (Mr. Chirag Patel) |
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Fax No.: |
91-265-2357238 |
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E-Mail : |
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|
Website : |
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|
Area : |
5000 Sq. ft. |
|
Location : |
Owned |
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Factory 1: |
Block No. 588, Village-Luna, ECP Canal Road, Taluka - Padra, District - Vododara -391440, Gujarat, India |
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Tel. No.: |
91-2662-221021/ 224360 |
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Fax No.: |
91-2662-223314 |
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Email : |
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Area : |
42000 Sq. Meters |
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Location : |
Owned |
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Factory 2: |
Plot No. Z 88 and 88/4, Dahej Sez, Dahej, Taluka Vagra, District Bharuch
– 392130, Gujarat, India |
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Tel. No.: |
91-265-2321418/2335432 |
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Fax No.: |
91-265-2357238 |
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Email : |
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Sales Office : |
Located at ·
Kandla, Gujarat, India ·
Nariman Point, Mumbai, Maharashtra, India |
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|
|
One Alpine Way, |
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Tel. No.: |
973-535-6135 |
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Fax No.: |
973-535-6149 |
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Email : |
DIRECTORS
As on 18.07.2014
|
Name : |
Mr. Vishal Rakesh Agrawal |
|
Designation : |
Managing Director |
|
Address : |
61, Alkapuri Society, Alkapuri, Vododara – 390 005, Gujarat, India |
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Date of Birth/Age : |
01.10.1974 |
|
Qualification : |
Bech of Engineering |
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Date of Appointment : |
18.03.1999 |
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DIN No.: |
00056800 |
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|
|
|
Name : |
Mr. Rakesh Shivbhagwan Agrawal |
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Designation : |
Director |
|
Address : |
61, Alkapuri Society, Alkapuri, Vododara – 390 005, Gujarat, India |
|
Date of Birth/Age : |
08.06.1947 |
|
Qualification : |
Bech of Engineering |
|
Date of Appointment : |
29.09.2001 |
|
DIN No.: |
00057955 |
|
|
|
|
Name : |
Mr. Rahul Rakesh Agrawal |
|
Designation : |
Managing Director |
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Address : |
174, 17th Floor, NCPA Apartment, Nariman Point, Mumbai –
400021, Maharashtra, India |
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Date of Birth/Age : |
04.03.1978 |
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Qualification : |
Bech of Engineering, MBA |
|
Date of Appointment : |
18.03.1999 |
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DIN No.: |
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|
|
|
|
Name : |
Uma R Agarwal |
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Designation : |
Director |
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Address : |
174, 17th Floor, NCPA Apartment Nariman Point, Mumbai –
400021, Maharashtra, India |
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Date of Birth/Age : |
05.11.1952 |
|
Date of Appointment : |
18.07.2014 |
KEY EXECUTIVES
|
Name : |
Ms. Panel |
|
Designation : |
Office Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.07.2014
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
270000 |
3.88 |
|
Vishal R Agrawal |
270000 |
3.88 |
|
Rahul R Agrawal |
270000 |
3.88 |
|
Uma R Agrawal |
270000 |
3.88 |
|
Tash Investment Private Limited, India |
5870000 |
84.46 |
|
Madhavi V Agrawal |
100 |
0.00 |
|
Ruchika R Agrawal |
100 |
0.00 |
|
Total |
6950200 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 18.07.2014
|
Category |
Percentage |
|
Bodies corporate |
84.46 |
|
Directors or relatives of Directors |
15.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Multifunctional Intermediates and Speciality
Chemicals. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Japan · Europe · USA · Italy |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· China · Europe |
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Terms : |
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Selling : |
Cash and Advance Payment , Cheque |
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Purchasing : |
Cash and Advance Payment, Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers
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No. of Employees : |
175 (Approximately) |
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Bankers : |
·
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe
Parade, Mumbai – 400005, Maharashtra, India Tel No.: 91-22-66552383 ·
Standard
Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Roads,
Ahmedabad – 380006, Gujarat, India Tel No.: 91-79-39404444 / 66014444 · HDFC Bank, HDFC Bank House, Senapti Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India Tel No.: 91-22-66521308 / 9323620828
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Facilities : |
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Auditors : |
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Name : |
Talati and Talati Chartered Accountants |
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Address : |
2nd and 3rd
Floor, Ambica Chambers, Near Old High Court, Navrangpura, Ahmedabad – 380009,
Gujarat, India |
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Tel. No. : |
91-265-3058025-29 |
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Fax No. : |
91-265-3058027 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFT4520A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
Tash Investment Private Limited, India [U65993GJ1986PTC008516] |
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Related Parties: |
Ankshree Investments and Trading Company Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Million |
|
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6950200 |
Equity Shares |
Rs.10/- each |
Rs.69.502 Million |
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|
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 |
69.502 |
69.502 |
69.502 |
|
(b) Reserves & Surplus |
984.756 |
739.484 |
498.411 |
|
(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) |
1054.258 |
808.986 |
567.913 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
457.500 |
271.900 |
152.400 |
|
(b) Deferred tax liabilities
(Net) |
15.984 |
14.821 |
6.427 |
|
(c) Other long term
liabilities |
0.610 |
0.045 |
0.045 |
|
(d) long-term provisions |
13.683 |
11.649 |
8.683 |
|
Total
Non-current Liabilities (3) |
487.777 |
298.415 |
167.555 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
822.932 |
668.742 |
715.037 |
|
(b) Trade payables |
374.285 |
306.071 |
278.813 |
|
(c) Other current liabilities |
49.345 |
39.000 |
22.020 |
|
(d) Short-term provisions |
83.672 |
80.207 |
46.545 |
|
Total
Current Liabilities (4) |
1330.234 |
1094.020 |
1062.415 |
|
|
|
|
|
|
TOTAL |
2872.269 |
2201.421 |
1797.883 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
705.749 |
675.250 |
465.464 |
|
(ii) Intangible Assets |
4.586 |
6.045 |
7.825 |
|
(iii) Capital work-in-progress |
475.602 |
184.397 |
169.688 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.652 |
1.595 |
1.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.111 |
29.222 |
44.249 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1187.700 |
896.509 |
688.326 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
289.245 |
237.177 |
209.943 |
|
(c) Trade receivables |
1048.057 |
773.774 |
764.628 |
|
(d) Cash and cash equivalents |
106.666 |
188.227 |
90.987 |
|
(e) Short-term loans and
advances |
240.601 |
105.734 |
43.999 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1684.569 |
1304.912 |
1109.557 |
|
|
|
|
|
|
TOTAL |
2872.269 |
2201.421 |
1797.883 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4903.366 |
3756.495 |
3185.605 |
|
|
Other Income |
36.663 |
13.384 |
47.401 |
|
|
TOTAL
(A) |
4940.029 |
3769.879 |
3233.006 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3775.329 |
2800.240 |
2498.051 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
7.531 |
56.652 |
-61.051 |
|
|
Employees benefits expense |
119.732 |
100.127 |
102.771 |
|
|
Other expenses |
365.714 |
264.359 |
217.747 |
|
|
TOTAL
(B) |
4268.306 |
3221.378 |
2757.518 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
671.723 |
548.501 |
475.488 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
153.420 |
78.361 |
129.501 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
518.303 |
470.140 |
345.987 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
84.542 |
57.117 |
41.999 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
433.761 |
413.023 |
303.988 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
147.832 |
134.450 |
100.751 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
285.929 |
278.573 |
203.237 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
633.203 |
419.987 |
269.385 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend on Equity
Shares |
34.751 |
34.751 |
27.801 |
|
|
Tax on Proposed Dividend |
5.905 |
5.905 |
4.510 |
|
|
Transferred to General Reserve |
28.594 |
27.857 |
20.324 |
|
|
Excess Amount Transfer from
DTA |
0.000 |
3.156 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
849.883 |
633.203 |
419.987 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2042.203 |
1612.714 |
1340.009 |
|
|
TOTAL
EARNINGS |
2042.203 |
1612.714 |
1340.009 |
|
|
|
|
|
|
|
|
CIF
VALUE OF IMPORTS |
3432.147 |
2879.358 |
2277.293 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
41.14 |
40.08 |
29.24 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.83 |
7.42 |
6.38 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.70 |
14.60 |
14.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.11 |
20.49 |
18.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.51 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.21 |
1.16 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.19 |
1.04 |
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 |
69.502 |
69.502 |
69.502 |
|
Reserves & Surplus |
498.411 |
739.484 |
984.756 |
|
Net
worth |
567.913 |
808.986 |
1054.258 |
|
|
|
|
|
|
long-term borrowings |
152.400 |
271.900 |
457.500 |
|
Short term borrowings |
715.037 |
668.742 |
822.932 |
|
Total
borrowings |
867.437 |
940.642 |
1280.432 |
|
Debt/Equity
ratio |
1.527 |
1.163 |
1.215 |
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 |
3185.605 |
3756.495 |
4903.366 |
|
|
|
17.921 |
30.530 |
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 |
3185.605 |
3756.495 |
4903.366 |
|
Profit |
203.237 |
278.573 |
285.929 |
|
|
6.38% |
7.42% |
5.83% |
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 |
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 |
10521121 |
18/11/2014 * |
900,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),, MUMBAI, MAHARASHTRA - 400051, INDIA |
C35466382 |
|
2 |
10424746 |
01/05/2013 |
300,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B74764317 |
|
3 |
10368162 |
20/07/2012 |
300,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B44728483 |
|
4 |
10342265 |
26/06/2013 * |
293,462,500.00 |
STANDARD CHARTERED BANK |
ABHIJEET II,GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
B79197422 |
|
5 |
10291377 |
20/09/2013 * |
500,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
B89229355 |
|
6 |
10122465 |
23/11/2013 * |
1,200,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B90330333 |
|
7 |
90100098 |
23/11/2013 * |
800,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B90013806 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.20 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.