MIRA INFORM REPORT
|
Report No. : |
322882 |
|
Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DYNARX TECHNOLOGY (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
No.45, 1st Floor, Rajatha Nivas Building, Vasavi Temple Road, VV Puram,
Bangalore – 560004, Karnataka |
|
Tel. No.: |
91-80-4169 6007 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.02.1996 |
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Com. Reg. No.: |
019814 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.10.000 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U02411KA1996PLC019814 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is engaged in manufacturing of pharmaceutical tablets. |
|
|
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No. of Employees
: |
42 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 50000 |
|
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|
|
Status : |
Moderatec |
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|
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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 moderate track. The company has reported a better increase in its turnover and profitability
during FY2014. It has low reserves and weak liquidity profile during year
under review. Moreover, intense competition from pharmaceutical industry has
resulted in reliance on short term borrowings by the company which may
further stress liquidity profile of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. In the view of aforesaid, subject can be considered for business
dealings with some caution. |
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Sankar Venkitachalam Iyer |
|
Designation : |
Director |
|
Contact No.: |
91-9449063877 |
|
Date : |
15.05.2015 |
LOCATIONS
|
Registered Office / DYNARX
Headquarter: |
No.45, 1st Floor, Rajatha Nivas Building, Vasavi Temple Road, VV Puram, Bangalore – 560004, Karnataka, India |
|
Tel. No.: |
91-80-4169 6007 / 4130 5559 |
|
Mobile No.: |
91-9449063877 (Mr. Sankar Venkitachalam Iyer) |
|
Fax No.: |
91-80-4169 6007 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Plot No. 9, KIADB, Chikkaballapur Industrial Area, Chikkaballapur - 562 101, Karnataka |
|
Tel. No.: |
91-815-626 3141 |
|
Fax No.: |
91-815-626 3141 |
DIRECTORS
As on 30.09.2014
|
Name : |
Kapparthi Narayana Murthy Abhilash |
|
Designation : |
Managing director |
|
Address : |
NO. B-9, Devatha Plaza (Opp. Bishop Cotton Boys, School), Residency Road, Bangalore - 560025, Karnataka, India |
|
Date of Birth/Age : |
19.07.1983 |
|
Date of Appointment : |
13.02.1996 |
|
DIN No.: |
01440669 |
|
|
|
|
Name : |
Vijaykumar Bhailal Gosar |
|
Designation : |
Additional director |
|
Address : |
3, Hare Krishna Chs, First Floor, S.V.P Road, Opp. Bhagwati Hosp, Borivali - West, Mumbai - 400103, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1959 |
|
Date of Appointment : |
17.06.2010 |
|
DIN No.: |
02857542 |
|
|
|
|
Name : |
Chaitra Shivapooja Jagadeesh |
|
Designation : |
Director |
|
Address : |
25/2, North Public Square Road,, Basavanagudi, Bangalore - 560004, Karnataka, India |
|
Date of Birth/Age : |
13.12.1983 |
|
Date of Appointment : |
09.07.2010 |
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DIN No.: |
03130537 |
|
|
|
|
Name : |
Sankar Venkitachalam Iyer |
|
Designation : |
Director |
|
Address : |
90/301 Alamela Apartments, 4th Main Malleswaram, Bangalore - 560003, Karnataka, India |
|
Date of Birth/Age : |
24.04.1951 |
|
Date of Appointment : |
09.05.2012 |
|
DIN No.: |
03500488 |
|
|
|
|
Name : |
Velayutham Sivasubbu |
|
Designation : |
Director |
|
Address : |
106 Blue Bell Apts Pavani Residency, Puttenahalli Yelahanka, Bangalore - 560106, Karnataka, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
05252477 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Kapparthi Narayana Subhasini |
340,048 |
34.00 |
|
Kapparthi Narayana Murthy Abhilash |
479,918 |
47.99 |
|
Kaparthy Narayanamurthy Aparna |
110,012 |
11.00 |
|
K V Manjunatha |
10 |
0.00 |
|
N S Kishore |
45012 |
4.50 |
|
Investments Giriconda, India |
25000 |
2.50 |
|
Total |
1,000,000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
2.50 |
|
Directors or relatives of Directors |
97.50 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing of pharmaceutical tablets. |
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|
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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 Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
42 (Approximately) |
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Bankers : |
State Bank of Bikaner and Jaipur, No.122, 6th Cross Road,, Gandhinagar, Bangalore - 560009, Karnataka, India |
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Facilities : |
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Auditors : |
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Name : |
Nagendran and Company Chartered Accountants |
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Address : |
No.37, 1st Cross, C S I Compound, Mission Road, Bangalore - 560027
Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFN7782J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
6.067 |
3.737 |
1.516 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
2.138 |
7.185 |
7.185 |
|
Total
Shareholders’ Funds (1) + (2) |
18.205 |
20.922 |
18.701 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5.300 |
9.280 |
8.094 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.006 |
0.091 |
|
(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) |
5.300 |
9.286 |
8.185 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
27.255 |
7.201 |
6.520 |
|
(b) Trade payables |
7.924 |
1.154 |
1.428 |
|
(c) Other current liabilities |
3.956 |
1.823 |
1.883 |
|
(d) Short-term provisions |
2.296 |
2.523 |
1.711 |
|
Total
Current Liabilities (4) |
41.431 |
12.701 |
11.542 |
|
|
|
|
|
|
TOTAL |
64.936 |
42.909 |
38.428 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
27.078 |
22.640 |
13.261 |
|
(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) |
0.154 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
27.232 |
22.640 |
13.261 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
10.152 |
1.397 |
2.591 |
|
(c) Trade receivables |
11.397 |
8.925 |
13.641 |
|
(d) Cash and cash equivalents |
3.714 |
2.339 |
0.312 |
|
(e) Short-term loans and
advances |
8.033 |
6.579 |
7.309 |
|
(f) Other current assets |
4.408 |
1.029 |
1.314 |
|
Total
Current Assets |
37.704 |
20.269 |
25.167 |
|
|
|
|
|
|
TOTAL |
64.936 |
42.909 |
38.428 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
84.609 |
74.443 |
86.206 |
|
|
Other Income |
0.516 |
0.088 |
0.001 |
|
|
TOTAL (A) |
85.125 |
74.531 |
86.207 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
49.098 |
45.831 |
61.531 |
|
|
Preliminary Expenses
written off |
0.002 |
0.002 |
0.002 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
10.740 |
9.130 |
6.013 |
|
|
Other expenses |
14.028 |
10.215 |
7.008 |
|
|
TOTAL (B) |
73.868 |
65.178 |
74.554 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
11.257 |
9.353 |
11.653 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
3.315 |
2.285 |
1.863 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
7.942 |
7.068 |
9.790 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.483 |
3.639 |
1.845 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
3.459 |
3.429 |
7.945 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1.129 |
1.208 |
1.353 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
2.330 |
2.221 |
6.592 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
2.33 |
2.22 |
6.59 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
130.000 |
Expected Sales ( 2015-2016 ) : Rs.200.000 Million
The above information has been parted by Mr. Sankar Iyer
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.75 |
2.98 |
7.65 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.30 |
12.56 |
13.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.34 |
7.99 |
20.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.46 |
0.16 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Total Liability /Networth) |
|
1.79 |
0.79 |
0.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
1.60 |
2.18 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
1.516 |
3.737 |
6.067 |
|
Share Application money
pending allotment |
7.185 |
7.185 |
2.138 |
|
Net worth |
18.701 |
20.922 |
18.205 |
|
|
|
|
|
|
long-term borrowings |
8.094 |
9.280 |
5.300 |
|
Short term borrowings |
6.520 |
7.201 |
27.255 |
|
Total borrowings |
14.614 |
16.481 |
32.555 |
|
Debt/Equity ratio |
0.781 |
0.788 |
1.788 |
%20LIMITED%20-%20322882%2018-May-2015_files/image008.gif)
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 |
86.206 |
74.443 |
84.609 |
|
|
|
(13.645) |
13.656 |
%20LIMITED%20-%20322882%2018-May-2015_files/image010.gif)
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 |
86.206 |
74.443 |
84.609 |
|
Profit |
6.592 |
2.221 |
2.330 |
|
|
7.65% |
2.98% |
2.75% |
%20LIMITED%20-%20322882%2018-May-2015_files/image012.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans |
5.300 |
5.909 |
|
|
|
|
|
Total |
5.300 |
5.909 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10474209 |
20/02/2015 * |
40,845,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDR |
C44728434 |
* Date of charge modification
GENERAL INFORMATION
The company incorporated in 1996 under the provisions of the companies Act, 1956. The company is engaged in the business of chemical processing.
PERFORMANCE OF THE
COMPANY DURING THE YEAR
During the year the total Income was Rs.85.125 Million as against Rs.74.531 Million in 2012-2013. The expenses had marginally increased to Rs.81.666 Million as against Rs.71.102 Million 2012-2013.
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.63.58 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.