MIRA INFORM REPORT
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Report No. : |
322624 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROQUETTE RIDDHI SIDDHI PRIVATE LIMITED (w.e.f. 08.04.2013) |
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Formerly Known
As : |
RIDDHI SIDDHI CORN PROCESSING PRIVATE LIMITED |
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Registered
Office : |
12A and 14B, Abhishree Corporate Park, Opposite Madhurya Restaurant,
Ambli - Bopal Road, Ambli, Ahmedabad – 380058, Gujarat |
|
Tel. No.: |
91-79-71021050 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.08.2010 |
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Com. Reg. No.: |
04-062115 |
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Capital
Investment / Paid-up Capital : |
Rs.200.000 Million |
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CIN No.: [Company Identification
No.] |
U15326GJ2010PTC062115 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR07105A |
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PAN No.: [Permanent Account No.] |
AAFCR2758G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Maize Starch Powder. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 27000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well established private limited company having good track.
Company has recorded less profit in FY14 as compare to previous year. However, liquidity and networth is good overall financials are strong. Trade relations are fair. Business is active. Payment terms are
reported to be regular. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
18.11.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
18.11.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Pratik |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-71021000 |
|
Date : |
15.05.2015 |
LOCATIONS
|
Registered Office : |
12A and 14B, Abhishree Corporate Park, Opposite Madhurya Restaurant,
Ambli - Bopal Road, Ambli, Ahmedabad – 380058, Gujarat, India |
|
Tel. No.: |
91-79-71021050 / 71021015 / 71021000 |
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Fax No.: |
91-79-71021011 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No.12, Sector – 9, IIE, SIDCUL, Pant Nagar, Rudrapur,
Udham Singh Nagar – 263153, Uttarakhand, India |
|
Tel. No.: |
91-5944-250241 / 42 / 428 |
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Fax No.: |
91-5944-250240 |
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Factory 2 : |
Post Box No. 9, Gokak Falls Road, Gokak, Belgaum – 591307,
Karnataka, India |
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Tel. No.: |
91-8332-229240 / 41 / 42 |
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Fax No.: |
91-8332-226721 / 227266 |
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Factory 3 : |
Block No.51-52, Riddhi Siddhi Nagar, Village – Juna
Paddar, Becharaji Road, Viramgam, Ahmedabad – 382150, Gujarat, India |
|
Tel. No.: |
91-2715-234182 / 234181 |
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|
|
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Marketing Offices : |
Located at: ·
New Delhi ·
Bangalore ·
Mumbai ·
Chennai |
DIRECTORS
AS ON 19.09.2014
|
Name : |
Mr. Khodadad Khushroo Moradian |
|
Designation : |
Managing Director |
|
Address : |
M Cama Park K3/64, Cama Road,, Andheri West, Mumbai – 400058,
Maharashtra, India |
|
Date of Appointment : |
09.04.2014 |
|
DIN No.: |
00339566 |
|
|
|
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Name : |
Mr. Ganpatraj Lalchand Chowdhary |
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Designation : |
Managing director |
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Address : |
1/B, Natraj Society, Gulbai Tekra, Ambawadi, Ahmedabad – 380009,
Gujarat, India |
|
Date of Birth/Age : |
23.03.1963 |
|
Qualification : |
B. Com |
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Experience : |
24 Years |
|
Date of Appointment : |
25.08.2010 |
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PAN No.: |
ABWPL2726K |
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DIN No.: |
00344816 |
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|
|
|
Name : |
Michel Pascal Andre Payet Gaspard |
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Designation : |
Director |
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Address : |
8 Avenue, Saint Honore D Eylau, Paris 75116 France |
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Date of Birth/Age : |
16.11.1947 |
|
Date of Appointment : |
28.05.2013 |
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DIN No.: |
01201755 |
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|
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|
Name : |
Marc Philippe Bernard Marie Joseph Roquette |
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Designation : |
Director |
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Address : |
14, Avenue Pasteur 59130, Lambersart 62080 France |
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Date of Birth/Age : |
17.02.1953 |
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Date of Appointment : |
29.05.2012 |
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DIN No.: |
01317175 |
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Name : |
Mr. Emmanuel Marie De Geuser |
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Designation : |
Director |
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Address : |
126 Boulevard De La Republique, Saint Cloud, 92210, France |
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Date of Appointment : |
18.12.2013 |
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DIN No.: |
06765916 |
KEY EXECUTIVES
|
Name : |
Mr. Veenita Gupta |
|
Designation : |
Secretary |
|
Address : |
Gandhi Nagar Ward No. 2, Lalkuan, Nainital - 262402, Uttarakhand,
India |
|
Date of Appointment : |
11.02.2015 |
|
PAN No.: |
ALZPJ4474D |
MAJOR SHAREHOLDERS
AS ON 19.09.2014
|
Names of Shareholders |
No. of Shares |
|
Whiteline Consultancy Services Private Limited, India |
1644444 |
|
Roquette Freres, France |
18555551 |
|
Amitabh Tiriar |
5 |
|
|
|
|
Total |
20200000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 19.09.2014
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others] |
91.86 |
|
Bodies corporate |
8.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Maize Starch Powder. |
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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 : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapith,
Off Ashram Road, Ahmedabad – 380014, Gujarat, India |
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PAN No.: |
AABFD7919A |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Holding Company : |
Riddhi Siddhi Gluco Biols Limited (till 14th May , 2012) White line Consultancy Services Private Limited (From 15th May, 2012 till 29th May, 2012 and having significant influence on the Company w.e.f. 30th May, 2012) Roquette Frères (From 30th May, 2012 ) |
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Fellow Subsidiaries
: |
Roquette Singapore PTE Limited |
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Enterprise where Directors have
significant influence or control : |
Riddhi Siddhi Gluco Biols Limited CIN No.: L24110GJ1990PLC013967 |
CAPITAL STRUCTURE
AS ON 19.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21990000 |
Equity Shares |
Rs.10/- each |
Rs.219.900 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
20200000 |
Equity Shares |
Rs.10/- each |
Rs.202.000 Million |
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AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 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 |
200.000 |
200.000 |
0.500 |
|
(b) Reserves & Surplus |
9397.020 |
8959.621 |
83.339 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
2.000 |
0.000 |
20.000 |
|
Total
Shareholders’ Funds (1) + (2) |
9599.020 |
9159.621 |
103.839 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5001.768 |
1857.469 |
756.682 |
|
(b) Deferred tax liabilities (Net) |
393.822 |
218.456 |
65.680 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
16.775 |
16.039 |
2.117 |
|
Total Non-current
Liabilities (3) |
5412.365 |
2091.964 |
824.479 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2155.851 |
3851.553 |
1528.498 |
|
(b) Trade
payables |
634.246 |
493.548 |
481.515 |
|
(c) Other
current liabilities |
517.012 |
330.023 |
10270.333 |
|
(d) Short-term
provisions |
51.246 |
3.236 |
54.072 |
|
Total Current
Liabilities (4) |
3358.355 |
4678.360 |
12334.418 |
|
|
|
|
|
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TOTAL |
18369.740 |
15929.945 |
13262.736 |
|
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|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8729.547 |
8740.443 |
9371.002 |
|
(ii)
Intangible Assets |
878.086 |
1084.216 |
1290.346 |
|
(iii)
Capital work-in-progress |
2022.887 |
167.100 |
5.032 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.735 |
0.670 |
0.630 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2007.774 |
1419.255 |
37.048 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
13639.029 |
11411.684 |
10704.058 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1949.192 |
1891.558 |
900.862 |
|
(c) Trade
receivables |
1650.991 |
1454.395 |
1378.166 |
|
(d) Cash
and cash equivalents |
975.167 |
997.153 |
119.694 |
|
(e)
Short-term loans and advances |
128.151 |
100.158 |
78.381 |
|
(f) Other current
assets |
27.210 |
74.997 |
81.575 |
|
Total
Current Assets |
4730.711 |
4518.261 |
2558.678 |
|
|
|
|
|
|
TOTAL |
18369.740 |
15929.945 |
13262.736 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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||
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Income |
14417.088 |
13094.01 |
6193.911 |
|
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Other Income |
25.315 |
53.256 |
13.241 |
|
|
|
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TOTAL (A) |
14442.403 |
13147.266 |
6,207.152 |
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|
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|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL (B) |
12338.518 |
11075.067 |
5,399.090 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2103.885 |
2072.199 |
808.062 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
355.657 |
458.075 |
126.15 |
||
|
|
|
|
|
|
||
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1748.228 |
1614.124 |
681.912 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1017.106 |
986.917 |
490.629 |
||
|
|
|
|
|
|
||
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|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
731.122 |
627.207 |
191.283 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
289.186 |
115.757 |
107.881 |
||
|
|
|
|
|
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||
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|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
441.936 |
511.450 |
83.402 |
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IMPORTS |
|
|
|
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|
|
|
Raw Materials |
NA |
1.431 |
5.968 |
|
|
|
|
Stores & Spares |
NA |
11.841 |
2.082 |
|
|
|
|
Capital Goods |
NA |
56.998 |
0.000 |
|
|
|
TOTAL IMPORTS |
NA |
70.270 |
8.050 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
22.10 |
25.57 |
1668.04 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
345.466 |
249.531 |
242.634 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
3.07 |
3.91 |
1.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.59 |
15.83 |
13.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
4.47 |
3.98 |
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.07 |
1.84 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78 |
0.65 |
24.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
0.97 |
0.21 |
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 |
0.500 |
200.000 |
200.000 |
|
Reserves & Surplus |
83.339 |
8959.621 |
9397.020 |
|
Share Application money pending
allotment |
20.000 |
0.000 |
2.000 |
|
Net
worth |
103.839 |
9159.621 |
9599.020 |
|
|
|
|
|
|
long-term borrowings |
756.682 |
1857.469 |
5001.768 |
|
Short term borrowings |
1528.498 |
3851.553 |
2155.851 |
|
Current Maturities of Long term debt |
242.634 |
249.531 |
345.466 |
|
Total
borrowings |
2527.814 |
5958.553 |
7503.085 |
|
Debt/Equity
ratio |
24.344 |
0.651 |
0.782 |
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 |
6193.911 |
13094.010 |
14417.088 |
|
|
|
111.401 |
10.104 |
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
|
6193.911 |
13094.010 |
14417.088 |
|
Profit |
83.402 |
511.450 |
441.936 |
|
|
1.35% |
3.91% |
3.07% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
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 LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Term loans from others |
4550.000 |
1250.000 |
|
Deferred sales tax loan |
448.514 |
498.690 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
1779.000 |
0.000 |
|
|
|
|
|
Total |
6777.514 |
1748.690 |
CORPORATE INFORMATION
The Company was incorporated on August 25, 2010 with its object to acquire and carry the Corn-Wet milling business including industrial undertakings located at Viramgam, Gokak and Rudrapur, respectively on a going concern basis from Riddhi Siddhi Gluco Biols Limited pursuant to Scheme of Arrangement (‘Scheme’) under sections 391 and 394 of the Companies Act, 1956.
Pursuant to the Scheme of Arrangement under section 391 and 394 of the Companies Act, 1956, between the Company and Riddhi Siddhi Gluco Biols Limited becoming operative with effect from May 29, 2012 (‘the effective date’) the Corn-Wet milling business including industrial undertakings located at Viramgam, Gokak and Rudrapur, respectively and corresponding assets and liabilities of Riddhi Siddhi Gluco Biols Limited have vested with the Company retrospectively from October 1, 2011 (‘the appointed date’). Accordingly, previous year Statement of Profit and Loss, the Balance Sheet and the Cash flow dealt with the results of the activities carried out by Riddhi Siddhi Gluco Biols Limited in trust for the Company pending the scheme becoming operative.
The Shareholders’ of the Company at their meeting dated 18th March 2013 have changed the Company’s name from Riddhi Siddhi Corn Processing Private limited to Roquette Riddhi Siddhi Private Limited. The same was approved by the Registrar of Companies on April 8, 2013.
SANCTION OF SCHEME OF
AMALGAMATION
During the year the Hon’ble High Court of Gujarat sanctioned the Scheme of Arrangement in the nature of Amalgamation between Roquette India Private Limited with the Company vide its order dated 21st February, 2014 while approval from the Bombay High court was received on 9th May, 2014. Necessary Form no. INC-28 was filed with the office of Registrar of the Companies, Gujarat on 17th June, 2014 and accordingly the scheme became effective from that date. The appointed date as per the scheme is 1st April, 2013.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10479379 |
30/01/2014 |
2,650,000,000.00 |
ICICI Bank |
Zonal House, 9th Floor, JMC House, Opposite Parimal Garden, Ambavadi, Ahmedabad, Gujarat - 380006, India |
B97106678 |
|
2 |
10366476 |
29/05/2012 |
372,104,000.00 |
Standard Chartered Bank |
Abhijit-II, Ground Floor, Near Mithakhali Six Roads, Ahmedabad, Gujarat - 380006, India |
B44153518 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 : |
NYA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.