MIRA INFORM REPORT
|
Report No. : |
323765 |
|
Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEELIKON FOOD DYES AND CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
D-08, Everest Building, 5th Floor, Pt. Madan Mohan Malavia Marg, Tardeo
Cicle, Mumbai – 400034, Maharashtra |
|
Tel. No.: |
91-22-23524806 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.04.1994 |
|
|
|
|
Com. Reg. No.: |
11-077761 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.251 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15100MH1994PLC077761 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN04499F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN3451B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Colourants (Colours, lakes and pigments) for the Food Color, Pharmaceutical Colours, Cosmetic Colours, Personal Care Colours and Ink Industries. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2429000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1994 and it
is engaged in the production of dyes which caters to various industries
including foods, pharmaceuticals, cosmetics, inkjet inks, writing inks and as
fluorescent pigments. It is having a fine track record. Financial position of the company seems to be decent. The rating also takes into consideration long track record of the
promoters in the dyes and chemical industry. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings 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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits = A- |
|
Rating Explanation |
Have adequate degree of safety and low
credit risk. |
|
Date |
June 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund based limits = A2+ |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
June 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 DECLINED BY
|
Name : |
Mr. Rakesh |
|
Contact No.: |
91-9970004009 91-22-66661415 |
|
Date : |
22.05.2015 |
LOCATIONS
|
Registered/ Head Office : |
D-08, Everest Building, 5th Floor, Pt. Madan Mohan Malavia Marg, Tardeo
Cicle, Mumbai – 400034, Maharashtra, India |
|
Tel. No.: |
91-22-23524806/ 66627225/ 66626874/ 66661415 |
|
Fax No.: |
91-22-40179292/ 66626916 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 17 and 67, M.I.D.C. Industrial Area, Dhatav, District Raigad - 402116, Maharashtra, India |
|
Tel. No.: |
91-2194-263694 |
|
Fax No.: |
91-2194-263998 |
|
|
|
|
European Office : |
270 London Road, Wallington, Surrey SM6 7DJ, United Kingdom |
|
Tel. No.: |
+44 (0) 208 669 6204 |
|
Fax No.: |
+44 (0) 208 669 7747 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Mukund Bhogilal Turakhia |
|
Designation : |
Managing director |
|
Address : |
Shyam Niwas, 7 - 2B, 51, Bhulabhai Desai Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
19.12.1943 |
|
Qualification : |
Graduate in Chemical Engineering |
|
Date of Appointment : |
18.04.1994 |
|
PAN No.: |
AABPT6914F |
|
DIN No.: |
01211077 |
|
|
|
|
Name : |
Mr. Satyen Mukund Turakhia |
|
Designation : |
Whole-time director |
|
Address : |
Shyam Niwas, 7 - 2B, 51, Bhulabhai Desai Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
05.02.1973 |
|
Qualification : |
B.Com, M.B.A. in Manufacturing Management |
|
Date of Appointment : |
18.04.1994 |
|
PAN No.: |
AABPT3795O |
|
DIN No.: |
00268361 |
|
|
|
|
Name : |
Mr. Bhaumik Mukund Turakhia |
|
Designation : |
Whole-time director |
|
Address : |
Shyam Niwas, 7 - 2B, 51, Bhulabhai Desai Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1971 |
|
Qualification : |
Graduate in Chemical Engineering |
|
Date of Appointment : |
18.04.1994 |
|
PAN No.: |
AABPT3794R |
|
DIN No.: |
01313530 |
|
|
|
|
Name : |
Mr. Ram Hanumant Shetty |
|
Designation : |
Director |
|
Address : |
SI-6, Trimurtinagar, Roha, Roha - 402109, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1952 |
|
Date of Appointment : |
01.02.2010 |
|
DIN No.: |
02922909 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mukund Bhogilal Turakhia |
|
559990 |
|
Bhaumik Mukund Turakhia |
|
232500 |
|
Satyen Mukund Turakhia |
|
168700 |
|
Seema Bhaumik Turakhia |
|
10 |
|
Bhaumik Mukund Turakhia |
|
63810 |
|
Satyen Mukund Turakhia |
|
10 |
|
Sejal Satyen Turakhia |
|
10 |
|
Mukund Turakhia |
|
10 |
|
Indira I. Doctor |
|
10 |
|
Daksha Mukund Turakhia |
|
10 |
|
Indira I. Doctor |
|
10 |
|
|
|
|
|
Total |
|
1025070 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Colourants (Colours, lakes and pigments) for the Food Color, Pharmaceutical Colours, Cosmetic Colours, Personal Care Colours and Ink Industries. |
|
|
|
|
Brand Names : |
· Eelicol · Eelicert · Eeligran · Eelilakes · Eelink · Eeliglow · Lavanya |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· ING Vysya Bank Limited Ground Floor, G-34, Aderbad Building, Hughes
Road, Mumbai - 400007, Maharashtra, India ·
Canara Bank Tamarind Lane Branch, 8/10, Calcot House, Fountain, Mumbai - 400023, Maharashtra, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.R. Rele and Company Chartered Accountants |
|
Address : |
Ground Floor, Indira Building 16, Zaoba Wadi,
Thakurdwar, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADPR9934K |
|
|
|
|
Cost Auditors : |
|
|
Name : |
V.J. Talathi and Company Cost Accountants |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 12.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,025,070 |
Equity Shares |
Rs. 10/- each |
Rs. 10.251 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 |
10.251 |
10.251 |
10.251 |
|
(b) Reserves & Surplus |
840.072 |
652.291 |
543.464 |
|
(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) |
850.323 |
662.542 |
553.715 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.578 |
0.855 |
1.156 |
|
(b) Deferred tax liabilities (Net) |
30.597 |
22.182 |
22.837 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
4.208 |
4.569 |
2.251 |
|
Total
Non-current Liabilities (3) |
35.383 |
27.606 |
26.244 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
190.492 |
130.849 |
95.509 |
|
(b)
Trade payables |
260.954 |
165.164 |
121.545 |
|
(c)
Other current liabilities |
24.294 |
11.763 |
12.773 |
|
(d)
Short-term provisions |
58.871 |
49.987 |
43.050 |
|
Total
Current Liabilities (4) |
534.611 |
357.763 |
272.877 |
|
|
|
|
|
|
TOTAL |
1420.317 |
1047.911 |
852.836 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
507.560 |
370.212 |
295.048 |
|
(ii)
Intangible Assets |
1.879 |
0.015 |
0.015 |
|
(iii)
Capital work-in-progress |
7.295 |
76.915 |
61.365 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.042 |
0.042 |
0.042 |
|
(c) Deferred tax assets
(net) |
0.000 |
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 |
516.776 |
447.184 |
356.470 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
390.622 |
247.562 |
208.846 |
|
(c)
Trade receivables |
283.926 |
192.306 |
138.120 |
|
(d)
Cash and cash equivalents |
115.004 |
59.139 |
71.092 |
|
(e)
Short-term loans and advances |
113.989 |
101.720 |
78.308 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
903.541 |
600.727 |
496.366 |
|
|
|
|
|
|
TOTAL |
1420.317 |
1047.911 |
852.836 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1584.073 |
1136.598 |
947.207 |
|
|
|
Other Income |
10.171 |
9.098 |
8.753 |
|
|
|
TOTAL (A) |
1594.244 |
1145.696 |
955.960 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
853.718 |
550.706 |
453.009 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(79.541) |
(18.983) |
(20.827) |
|
|
|
Employees benefits expense |
156.865 |
139.917 |
122.527 |
|
|
|
Other expenses |
303.162 |
235.404 |
213.963 |
|
|
|
TOTAL (B) |
1234.204 |
907.044 |
768.672 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
360.040 |
238.652 |
187.288 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.831 |
4.860 |
3.903 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
354.209 |
233.792 |
183.385 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
44.995 |
39.975 |
42.903 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
309.214 |
193.817 |
140.482 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
109.441 |
65.928 |
58.366 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
199.773 |
127.889 |
82.116 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
195 |
125 |
80 |
|
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) |
(%) |
12.61 |
11.25 |
8.67 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
22.73 |
21.00 |
19.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.88 |
19.96 |
17.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.29 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.22 |
0.20 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69 |
1.68 |
1.82 |
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 |
10.251 |
10.251 |
10.251 |
|
Reserves & Surplus |
543.464 |
652.291 |
840.072 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
553.715 |
662.542 |
850.323 |
|
|
|
|
|
|
Long-term borrowings |
1.156 |
0.855 |
0.578 |
|
Short term borrowings |
95.509 |
130.849 |
190.492 |
|
Total
borrowings |
96.665 |
131.704 |
191.070 |
|
Debt/Equity
ratio |
0.175 |
0.199 |
0.225 |
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 |
947.207 |
1136.598 |
1584.073 |
|
|
|
19.995 |
39.370 |
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 |
947.207 |
1136.598 |
1584.073 |
|
Profit |
82.116 |
127.889 |
199.773 |
|
|
8.67% |
11.25% |
12.61% |
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 |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10258683 |
15/06/2011 * |
7,900,000.00 |
ING VYSYA BANK
LIMITED |
PATEL CHAMBERS, GROUND
FLOOR, SANDHURST BRIDGE, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400007, INDIA |
B16198194 |
|
2 |
10258684 |
23/04/2014 * |
585,000,000.00 |
ING VYSYA BANK
LIMITED |
GROUND FLOOR,
G-34, ADERBAD BUILDING, HUGHES ROAD, MUMBAI, MAHARASHTRA - 400007, INDIA |
C04078291 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.561 |
0.634 |
|
|
|
|
|
Total |
0.561 |
0.634 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from D-17,
Everest, 5th Floor, M M Malaviya Marg, Tardeo, Mumbai - 400034, Maharashtra,
India to the present address w.e.f.05.05.2010.
BUSINESS PERFORMANCE
The turnover of the company for the year ended 31st March, 2014 was Rs.
1584.073 Million as compared to last year Rs. 1136.599 Million. The company
crossed many milestones and achieved commendable height ever recorded in terms
of production and capacity utilisation.
EXPORT
During the year, company has made exports worth Rs. 1388.344 Million
(Last Year Rs. 968.846 Million) efforts are being made to establish higher
growth rate. This has been made possible through continued quality up
gradation.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer software
·
Copyrights, patents and other operating rights
·
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 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. 63.57 |
|
|
1 |
Rs. 99.67 |
|
Euro |
1 |
Rs. 70.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.