MIRA INFORM REPORT
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Report No. : |
324371 |
|
Report Date : |
27.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLENFIN CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
N-87, MIDC Industrial Area, MIDC Tarapur, Boisar, Thane-401506,
Maharashtra |
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Tel. No.: |
91-2525-645890 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.10.1995 |
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Com. Reg. No.: |
11-093268 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.400 Million |
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CIN No.: [Company Identification
No.] |
U24100MH1995PTC093268 |
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IEC No. : |
0304085553 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCG9298E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Intermediates such as Diphenylacetonitrile, 4-Bromo-2,2-Diphenylbutyronitrile, 2,2-Diphenylacetic acid, 5,5-Dimethylcyclohexane-1,3-dione (Dimedone) etc. |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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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 250000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company and having satisfactory rack record. As per registrar of company the date of the balance sheet (i.e.
financial filed) is shown as on 31.03.2014 but the documents related to the
financial are not available from any source. As per previous financial record of 2013, the company has achieved Rs.
410.000 million sale turnover reported topline growth of 14.3% and
profitability stood at 6.7% backed by its debt to equity at 0.29 times. Rating also takes into account of company established track record of
business operations supported by sound financial profile and extensive
industry experience of its promotors. Trade relation are fair. Business is active and Payment are reporter
to be slow but correct. In a view of sound operational base backed by experienced promotors,
the company can be considered for business dealing with its 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 |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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 : |
Ms. Meena |
|
Designation : |
Marketing Executive |
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Contact No.: |
91-2525-645890 |
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Date : |
25.05.2015 |
LOCATIONS
|
Registered Office : |
N-87, MIDC Industrial Area, MIDC Tarapur, Boisar, Thane-401506,
Maharashtra, India |
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Tel. No.: |
91-2525-645890 |
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Mobile No. : |
91-9820227316 (Mr. Akhileshwaran) |
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Fax No.: |
91-2525-661058 |
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E-Mail : |
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Website : |
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Area : |
3230 Sq. Ft. |
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Location : |
Owned |
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Factory : |
N-88, MIDC Industrial Area, MIDC Tarapur, Boisar, Thane-401506,
Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Jeetal Laxman Gupta |
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Designation : |
Director |
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Address : |
902, Aavishkar, Chandavarkar Cross Lane, Borivali (West),
Mumbai-400092, Maharashtra, India |
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Date of Birth/Age : |
16.10.1953 |
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Date of Appointment : |
04.10.1995 |
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Din No.: |
00807309 |
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Name : |
Mr. Akhileshwaran Sivaramakrishnan |
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Designation : |
Director |
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Address : |
I-1804, Oberoi Gardens, Off Western Express Highway, Kandivali (East),
Mumbai-400101, Maharashtra, India |
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Date of Birth/Age : |
21.10.1955 |
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Date of Appointment : |
04.10.1995 |
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Din No.: |
00807548 |
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Other Directorship :
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Name : |
Mr. Murari Vinayak Sanghavi |
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Designation : |
Director |
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Address : |
602, Ameya Apartment, Nariman Road, Vile Parle (East), Mumbai-400057,
Maharashtra, India |
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Date of Birth/Age : |
05.02.1956 |
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Date of Appointment : |
04.10.1995 |
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Din No.: |
00631293 |
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Name : |
Senipuram Krishnan Sivaramkrishnan |
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Designation : |
Director |
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Address : |
EC-107, 301, Sector 3, Evershine City Avenue, Evershine City, Vasai Road
(East), Thane-401205, Maharashtra, India |
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Date of Birth/Age : |
14.05.1955 |
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Date of Appointment : |
04.10.1995 |
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Din No.: |
00631317 |
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KEY EXECUTIVES
|
Name : |
Ms. Meena |
|
Designation : |
Marketing Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Jeetal Laxman Gupta |
136000 |
40.00 |
|
Akhileshwaran Sivaramakrishnan |
68000 |
20.00 |
|
Murari Vinayak Sanghavi |
68000 |
20.00 |
|
Senipuram Krishnan Sivaramkrishnan |
68000 |
20.00 |
|
Total |
340000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Intermediates such as Diphenylacetonitrile,
4-Bromo-2,2-Diphenylbutyronitrile, 2,2-Diphenylacetic acid,
5,5-Dimethylcyclohexane-1,3-dione (Dimedone) etc. |
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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 : |
Pharmaceutical Intermediates |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
LC and Credit [30 and 60 Days] |
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Purchasing : |
LC / DA |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
80 (Approximately) ) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
D J Mehta and Company Chartered Accountants |
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Address : |
3, Sharda Estate, L.T. Road, Near Vazira Naka, Borivali (West),
Mumbai-400092, Maharashtra, India |
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Tel. No.: |
91-22-28997960 / 28900542 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACPM0822A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties (Partnership Concern in which Director Shri J.
L. Gupta is holding shares of 50% ): |
Nikita Chemical Industry |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
500000 |
Preference Shares |
Rs.10/- each |
Rs. 5.000 Million |
|
|
Total |
|
Rs. 10.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340000 |
Equity Shares |
Rs.10/- each |
Rs. 3.400
Million |
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|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
3.400 |
3.400 |
3.400 |
|
(b) Reserves &
Surplus |
87.354 |
59.624 |
38.633 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
90.754 |
63.024 |
42.033 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
26.830 |
49.384 |
58.809 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.428 |
0.149 |
0.000 |
|
(d) long-term provisions |
10.890 |
15.471 |
8.789 |
|
Total Non-current
Liabilities (3) |
38.148 |
65.004 |
67.598 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
30.413 |
77.005 |
87.722 |
|
(c) Other current
liabilities |
19.143 |
23.909 |
16.353 |
|
(d) Short-term provisions |
13.639 |
9.933 |
6.682 |
|
Total Current Liabilities
(4) |
63.195 |
110.847 |
110.757 |
|
|
|
|
|
|
TOTAL |
192.097 |
238.875 |
220.388 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
59.903 |
61.315 |
54.159 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.307 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.051 |
0.051 |
0.051 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.979 |
4.092 |
2.721 |
|
(e) Other Non-current
assets |
10.165 |
15.965 |
8.910 |
|
Total Non-Current Assets |
76.098 |
81.423 |
66.148 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
3.858 |
2.853 |
2.653 |
|
(b) Inventories |
39.645 |
53.648 |
46.243 |
|
(c) Trade receivables |
41.431 |
75.987 |
85.817 |
|
(d) Cash and cash
equivalents |
0.456 |
0.914 |
0.324 |
|
(e) Short-term loans and
advances |
5.385 |
2.060 |
1.485 |
|
(f) Other current assets |
25.155 |
21.906 |
17.619 |
|
(g) Miscellaneous
Expenditure |
0.069 |
0.084 |
0.099 |
|
Total Current Assets |
115.999 |
157.452 |
154.240 |
|
|
|
|
|
|
TOTAL |
192.097 |
238.875 |
220.388 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
4.993 |
|
|
|
|
TOTAL (A) |
413.613 |
361.824 |
320.578 |
|
|
|
|
|
|
|
Less |
EXPENSES TOTAL (B) |
358.357 |
318.038 |
286.868 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
(C) |
55.256 |
43.786 |
33.710 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
5.124 |
6.126 |
7.198 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
50.132 |
37.660 |
26.512 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.158 |
7.217 |
6.451 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
41.974 |
30.443 |
20.061 |
|
|
|
|
|
|
|
Less |
TAX (H) |
14.244 |
9.933 |
6.778 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
27.730 |
20.510 |
13.283 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
59.624 |
39.113 |
25.349 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (I+J) |
87.354 |
59.623 |
38.632 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
234.558 |
184.780 |
119.155 |
|
|
TOTAL EARNINGS |
234.558 |
184.780 |
119.155 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
5.010 |
16.902 |
29.950 |
|
|
Spare Parts and
Components |
0.000 |
0.014 |
0.208 |
|
|
Capital Goods |
2.267 |
0.000 |
1.167 |
|
|
TOTAL IMPORTS |
7.277 |
16.916 |
31.325 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
81.56 |
60.32 |
39.35 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.79 |
NA |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.52 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.86 |
12.75 |
9.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
0.48 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.30 |
0.78 |
1.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84 |
1.42 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
3.400 |
3.400 |
3.400 |
|
Reserves & Surplus |
38.633 |
59.624 |
87.354 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
42.033 |
63.024 |
90.754 |
|
|
|
|
|
|
long-term borrowings |
58.809 |
49.384 |
26.830 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
58.809 |
49.384 |
26.830 |
|
Debt/Equity ratio |
1.399 |
0.784 |
0.296 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
320.578 |
361.824 |
413.613 |
|
|
|
12.866 |
14.313 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
320.578 |
361.824 |
413.613 |
|
Profit |
13.283 |
20.510 |
27.730 |
|
|
4.14% |
5.67% |
6.70% |
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
Operation
(31.03.2013)
During the year Company has achieved sales turnover of Rs. 408.620 Million only. Further during the year the Company has earned Net Profit after Tax of Rs.27.730 Million after providing for Depreciation amounting to Rs.8.158 and Provision for Taxation of Rs.13.503 Million, Provision for Fringe Benefit Tax NIL and Provision for Deferred Tax Rs.0.137 Million, Provision for Tax for earlier years Rs. 0.604 Million and after writing off Preliminary Expenses amounting to Rs.0.015 Million. The Directors deemed it necessary to retain the net profit arrived at as above in the business
UNSECURED LOAN
|
Unsecured Loan |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loan and Advances
from Related Parties |
|
|
|
Glenfin Ind. DCK Defferment |
0.088 |
0.088 |
|
J.L.Gupta Loan |
7.000 |
7.000 |
|
Murari Sanghvi Loan |
3.500 |
3.500 |
|
S. Akhileswaran Loan |
3.500 |
3.500 |
|
S.K.Sivramkrishnan Loan |
3.500 |
3.500 |
|
Total |
17.588 |
17.588 |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10352605 |
20/03/2012 |
7,500,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
B38553749 |
|
2 |
10352580 |
20/03/2012 |
15,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
B38546578 |
|
3 |
10205506 |
18/02/2010 |
5,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
A80129414 |
|
4 |
10181723 |
05/10/2009 |
3,750,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
A71455539 |
|
5 |
10212782 |
20/06/2009 |
900,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
BORIVLI BRANCH, BORIVLI (WEST), MUMBAI, MAHARASHTRA - 400092, INDIA |
A69078376 |
|
6 |
10121053 |
01/09/2008 |
10,100,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
BORIVLI BRANCH, BORIVLI (WEST), MUMBAI, MAHARASHTRA - 400092, INDIA |
A45286713 |
|
7 |
10119150 |
06/08/2008 |
6,000,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
BORIVLI BRANCH, BORIVLI (WEST), MUMBAI, MAHARASHTRA - 400092, INDIA |
A44441632 |
|
8 |
10113722 |
30/06/2008 |
5,000,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
VILE PARLE BRANCH, VILE PARLE (EAST), MUMBAI, MAHARASHTRA - 400057, INDIA |
A41794488 |
|
9 |
10077992 |
29/11/2007 |
2,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
BORIVLI BRANCH, BORIVLI (WEST), MUMBAI, MAHARASHTRA - 400092, INDIA |
A28052330 |
|
10 |
10045219 |
05/03/2007 |
2,000,000.00 |
THE SARASWAT CO-OPBANK LIMITED |
BORIVLI BRANCH,
BORIVLI (W), MUMBAI, MAHARASHTRA - |
A13421888 |
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. 63.85 |
|
|
1 |
Rs. 98.30 |
|
Euro |
1 |
Rs. 69.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
43 |
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.