MIRA
INFORM REPORT
|
Report No. : |
347984 |
|
Report Date : |
04.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SARACA LABORATORIES LIMITED (w.e.f. 28.11.1994) |
|
|
|
|
Formerly Known
As : |
SARACA LABORATORIES PRIVATE LIMITED (w.e.f. 02.05.1989) V C R DRUGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.320, 1st Floor, Swamy Ayyappa Co-Operative, Housing Society
Limited, Maadhapur, Hyderabad-500081, Telangana |
|
Tel. No.: |
91-40-23112689 |
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|
|
|
Country : |
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|
|
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Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.01.1988 |
|
|
|
|
Com. Reg. No.: |
008172 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs. 80.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85195TG1988PLC008172 |
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|
|
|
IEC No.: |
0991007859 |
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|
TIN No.: |
28940115205 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AACCS8240H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Bulk Drugs. |
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|
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1771800 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. It was incorporated
during the year 1988, engaged in manufacturing and exporting of bulk drugs. The company’s overall financial position seems to be good with decent
profit margins along with sound capital structure backed by its healthy net
worth base, strong debt protection metrics and favourable liquidity position
during the year 2015. Rating further takes into consideration company’s long track record of
business operations and established market position in pharmaceutical
industry. However, rating strength is partially offset by risk associated to
product substitution, exposure to intense competition and risks related to
volatility in raw material prices. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of aforesaid, the company can be considered 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 |
CRISIL |
|
Rating |
Long Term Bank Facilities=BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
18.09.2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Bank Facilities=A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
18.09.2014 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Srinivas Reddy |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-40-23112689 |
|
Date : |
31.10.2015 |
LOCATIONS
|
Registered Office : |
Plot No.320, 1st Floor, Swamy Ayyappa Co-Operative, Housing Society
Limited, Maadhapur, Hyderabad-500081, Telangana, India |
|
Tel. No.: |
91-40-23112689/ 690 |
|
Fax No.: |
91-40-23112691 |
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E-Mail : |
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|
Website : |
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|
|
|
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Factory 1: |
Paidi Bemavaram, Srikakulam District Hyderabad, Telangana, India |
|
|
|
|
Factory 2: |
Survey No. 10,
Gaddapotharam Village, Jinnaram Mandal, Medak District, Andhra Pradesh, India |
|
Tel. No.: |
91-7702301723/ 27 |
|
Fax No. : |
91-8458-277189 |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Venkata Sunil Lingareddy |
|
Designation : |
Director |
|
Address : |
Plot No.435 A, Road No.20, Jubilee Hills, Hyderabad-500034, Andhra
Pradesh, India |
|
Date of Birth/Age : |
17.07.1974 |
|
Qualification : |
Graduate/PG |
|
Date of Appointment : |
06.04.2000 |
|
DIN No.: |
00268393 |
|
|
|
|
Name : |
Mr. Subramanyam Reddy Puthana |
|
Designation : |
Managing Director |
|
Address : |
8-2-469/C C-2, Road No.5, Banjara Hills, Hyderabad-500034, Andhra
Pradesh, India |
|
Date of Birth/Age : |
01.05.1945 |
|
Qualification : |
Graduate/PG |
|
Date of Appointment : |
16.12.1994 |
|
DIN No.: |
00268514 |
|
|
|
|
Name : |
Mr. Venkata Subba Reddy Lingareddy |
|
Designation : |
Whole-time director |
|
Address : |
8-2-293/82/A/435/A, Road No.20, Jubilee Hills, Hyderabad-500033,
Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1941 |
|
Qualification : |
Graduate/PG |
|
Date of Appointment : |
03.03.1992 |
|
DIN No.: |
00268559 |
|
|
|
|
Name : |
Mr. Sree Phani Kumar Reddy Mallidi |
|
Designation : |
Director |
|
Address : |
No 3, S L N Lumbini Springs, Kothaguda, Shaikpet, Jubilee Hills,
Hyderabad- 500033, Telangana, India |
|
Date of Birth/Age : |
26.10.1971 |
|
Qualification : |
Graduate/PG |
|
Date of Appointment : |
09.05.1997 |
|
DIN No.: |
00307899 |
|
|
|
|
Name : |
Mr. Maha Vishnu Mundla |
|
Designation : |
Director |
|
Address : |
Plot No.15A, Road No.2, Jubilee Hills, Hyderabad-500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
15.02.1987 |
|
Qualification : |
Graduate/PG |
|
Date of Appointment : |
17.02.2006 |
|
PAN No.: |
AMWPM8438Q |
|
DIN No.: |
02470664 |
KEY EXECUTIVES
|
Name : |
Mr. Srinivas Reddy |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Bulk Drugs. |
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|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
|
Countries : |
· Iran Bangladesh USA Canada China |
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Imports : |
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|
Products : |
Raw Material |
|
Countries : |
· China Korea |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
P
Murali and Company Chartered Accountants |
|
Address : |
No.
6-3-655/2/3, Somajiguda, Hyderabad, Andhra Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFP2033K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
·
Virchow Laboratores Limited, India
(U24232TG1982PLC003368) Andhra Organics Limited, India (U24116TG1991PLC012314) Emmennar Pharma Containers Private Limited, India
(U21014TG2001PTC037859) Virchow Chemicals Private Limited, India (U65910TG1988PTC008596) |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000
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 |
80.000 |
80.000 |
80.000 |
|
(b) Reserves & Surplus |
540.158 |
385.712 |
325.828 |
|
(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) |
620.158 |
465.712 |
405.828 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
47.724 |
42.025 |
55.084 |
|
(b) Deferred tax liabilities (Net) |
54.618 |
49.179 |
44.229 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.210 |
2.718 |
3.320 |
|
Total Non-current
Liabilities (3) |
104.552 |
93.922 |
102.633 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
202.674 |
336.112 |
275.640 |
|
(b)
Trade payables |
408.335 |
288.844 |
218.916 |
|
(c) Other
current liabilities |
0.442 |
20.334 |
21.667 |
|
(d) Short-term
provisions |
162.525 |
67.073 |
70.255 |
|
Total Current
Liabilities (4) |
773.976 |
712.363 |
586.478 |
|
|
|
|
|
|
TOTAL |
1498.686 |
1271.997 |
1094.939 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
505.093 |
448.953 |
416.131 |
|
(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 |
0.192 |
0.192 |
0.192 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.384 |
46.776 |
10.838 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
533.669 |
495.921 |
427.161 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
227.144 |
191.845 |
176.442 |
|
(c)
Trade receivables |
620.743 |
524.368 |
412.022 |
|
(d) Cash
and cash equivalents |
15.617 |
10.957 |
26.537 |
|
(e)
Short-term loans and advances |
0.873 |
0.366 |
0.368 |
|
(f)
Other current assets |
100.640 |
48.540 |
52.409 |
|
Total
Current Assets |
965.017 |
776.076 |
667.778 |
|
|
|
|
|
|
TOTAL |
1498.686 |
1271.997 |
1094.939 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Opertaions |
2604.128 |
1895.073 |
1504.183 |
|
|
|
Other Income |
11.847 |
11.621 |
29.655 |
|
|
|
TOTAL (A) |
2615.975 |
1906.694 |
1533.838 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1796.473 |
1359.387 |
1094.762 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(17.413) |
(7.113) |
(21.064) |
|
|
|
Employees benefits expense |
71.041 |
56.414 |
46.147 |
|
|
|
Other expenses |
468.770 |
346.825 |
271.492 |
|
|
|
TOTAL (B) |
2318.871 |
1755.513 |
1391.337 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
297.104 |
151.181 |
142.501 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.973 |
35.379 |
28.417 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
264.131 |
115.802 |
114.084 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.210 |
26.185 |
23.778 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
234.921 |
89.617 |
90.306 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
80.475 |
29.734 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
154.446 |
59.883 |
90.306 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.31 |
7.49 |
11.29 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2680.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs. 2750.000 Million
The above information has been parted by Mr. Srinivas Reddy (Accounts
Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.442 |
20.334 |
21.667 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.93 |
3.16 |
6.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.41 |
7.98 |
9.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.68 |
7.05 |
8.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.19 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.40 |
0.86 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.09 |
1.14 |
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 |
80.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
325.828 |
385.712 |
540.158 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
405.828 |
465.712 |
620.158 |
|
|
|
|
|
|
Long-term borrowings |
55.084 |
42.025 |
47.724 |
|
Short term borrowings |
275.640 |
336.112 |
202.674 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
21.667 |
20.334 |
0.442 |
|
Total
borrowings |
352.391 |
398.471 |
250.840 |
|
Debt/Equity
ratio |
0.868 |
0.856 |
0.404 |
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 |
1504.183 |
1895.073 |
2604.128 |
|
|
|
25.987 |
37.416 |
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 |
1504.183 |
1895.073 |
2604.128 |
|
Profit |
90.306 |
59.883 |
154.446 |
|
|
6.00% |
3.16% |
5.93% |
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 |
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) |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90118968 |
28/03/2000 |
400,000.00 |
STATE BVANK OF HYDERABAD |
PUNJAGUTTA BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
2 |
90118966 |
16/03/2000 |
5,000,000.00 |
STATE BANK OF HYDERABAD |
PUNJAGUTTA BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
3 |
90114045 |
19/04/1996 |
4,700,000.00 |
STATE BANK OF HYDERABAD |
PUNJAGUTTA BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
4 |
90118489 |
20/04/2015 * |
710,000,000.00 |
STATE BANK OF HYDERABAD |
H.NO: 6-3-542/2, HYDERABAD- 500082, TELANGANA, INDIA |
C56426588 |
|
5 |
90119402 |
10/06/1991 |
1,000,000.00 |
ANDHRA BANK |
POMAJIGUDA, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
6 |
90118356 |
10/01/1991 |
3,970,000.00 |
A P S F C. HYDERABAD |
CHISAG ALI LANE, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
* Date of charge modification |
||
|
||
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
4.100 |
6.500 |
|
Loans and advances from others |
42.700 |
35.000 |
|
Other loans and advances, others |
(0.442) |
(20.334) |
|
|
|
|
|
Total |
46.358 |
21.166 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 8-2-348/2,
COC Building, Road No. 3, Beside Administrative Staff College, Banjara Hills,
Hyderabad-500034, Andhra Pradesh, India to the present address w.e.f 01.04.2011
PROJECT IMPLEMENTATION:
In presenting the 2013-14
performances. The Turnover of the year has consolidated at Rs.2604.128 Million
With a growth of 37.42% and the Other Income is Rs. 1,1.847 Million. The profit
during the year is Rs. 23,4.921 Million against Rs.8,9.617 Million/- last year.
During the year Additional
Facility for NMSM is established at Pydibhimavaram Unit, to become a full
fledged unit for in Ranitidine Manufacturer. Presently we are the largest
manufacturer of RANITIDINE HCL in the world.
They are pleased to
indicate that our unit has obtained USFDA, Iran Government approved and
Austrian TGA Qualification etc. and exporting to over 24 Countries.
The unit has registration
of Certificate of Suitability, which will help in obtaining orders directly from
Europe.
During the year 2006-07 our
product is approved by M/s.Glaxco, the originate of Ranitidine. Now we the only
supplier to M/S. Glaxo, India.
With this we are covering
85% of Indian Market of Ranitidne HCL. This is possible due to our efficiency
and Volume.
The company for full
fledged R and D and Pilot Plant for taking up New Products and Process
development of existing products. We have successfully developed Gaba Pentin
HCL to TEVA ASSIA, ISRAEL and manufacturing intermediates for Promypexol and
Donepezil to APOTEX, CANADA.
FIXED ASSETS:
Tangible Assets
·
Land
Buildings
Plant and
Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
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. 65.45 |
|
|
1 |
Rs. 100.96 |
|
Euro |
1 |
Rs. 72.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
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 |
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 |
|
50 |
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.