MIRA INFORM REPORT
|
Report No. : |
348412 |
|
Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAKATA INX (INDIA) LIMITED |
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|
|
|
Formerly Known
As : |
MONTARI INKS LIMITED |
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Registered
Office : |
B-1245-1246, RIICO Industrial Area, Ghatal, Bhiwadi – 301019,
Rajasthan |
|
Tel. No.: |
91-124-4803300 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.05.1994 |
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Com. Reg. No.: |
17-008294 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.583.000 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U24117RJ1994PLC008294 |
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|
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IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRS04836G |
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|
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PAN No.: [Permanent Account No.] |
AACCS4797D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Selling of packaging and printing inks
and polyurethane resins. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4000000 |
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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 a subsidiary of ‘Sakata Inx Corporation’, Japan. The
company is engaged in manufacturing gravure printing inks. Its products
include liquid printing inks for gravure and flexographic printing process, offset
inks for sheet fed and web offset printing and accessories and ultra violet
varnishes and ultra violet sheet fed inks. For the financial year ended 2014, company has reported 14.52% sales
turnover growth as compared to previous sales turnover and it has maintained
satisfactory profitability margins at 4.11% during the year under a review. Rating takes into consideration company’s sound operating efficiencies
supported by its satisfactory financial base along with adequate net worth
base and healthy debt coverage indicators. Rating also takes into account of strong financial and managerial
support that company receives from its parent entity and its well experience
management team. Trade relations are reported as fair. Payments are reported to be regular
and as per commitment. In view of aforesaid, the company can be considered good for normal
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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION
DENIED
Management non co-operative (Tel. No.: 91-124-4803300)
LOCATIONS
|
Registered Office/ Factory 1: |
B – 1245-46, RIICO Industrial Area, Bhilwadi – 301019, |
|
Tel. No.: |
91-1493-222908/ 222909/ 2224899 / 515900/ 222309 |
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Fax No.: |
91-1493-223308/ 301019 / 515909 |
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E-Mail : |
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Website : |
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Area : |
20 acre |
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Location : |
Owned |
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Factory 2: |
U-2, Panoli Industrial Estate, District Bharuch Panoli - 394116,
Gujarat, India |
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Tel No.: |
91-2646-272970-73 |
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Fax: |
91-2646-272115 |
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E-mail: |
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Corporate Office: |
D-17, Infocity II, Sector – 33, Gurgaon – 122001, |
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Tel No.: |
91-124-4803300/ 2372008/ 4803315 |
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Fax: |
91-124-2372009/ 4803355 |
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E-mail: |
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Mumbai Office : |
Dani Corporate Park, 158, |
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Tel No.: |
91-22-26525170/ 26526772/ 26528013 |
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Fax: |
91-22-26542044 |
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Email : |
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608, Ashoka Bhoopal Chambers, Sardar Patel Road,
Secunderabad – 500003, India |
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Tel No.: |
91-40-27846016/ 27846017 |
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Fax: |
91-40-27846017 |
|
Email : |
DIRECTORS
As on 22.04.2014
|
Name : |
Mr. Vijay Kumar Seth |
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|
Designation : |
Managing Director |
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Address : |
E-46, South City -1, Gurgaon – 122001, Haryana, India |
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Date of Birth/Age : |
15.10.1953 |
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Qualification: |
BSC, Graduate and Engineer |
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Experience: |
35 Years |
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Date of Appointment : |
01.04.2012 |
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PAN No.: |
AAAPS1202Q |
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Voter ID No: |
DL-02-006-198387 |
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DIN No: |
00685877 |
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Other Directorship:
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Name : |
Mr. Amrit Lal Garg |
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Designation : |
Director |
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Address : |
House No. 417, Sector 28, Faridabad - 121008, Haryana, India |
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Date of Birth/Age : |
25.14.1952 |
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Qualification: |
BSC, Chemical Engineer |
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Date of Appointment : |
30.11.2011 |
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DIN No: |
00152990 |
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Other Directorship:
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Name : |
Mr. Kotaro Morita |
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Designation : |
Director |
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Address : |
324, Vinigs Drive, Bloomingdale, United States of America |
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Date of Birth/Age : |
17.10.1955 |
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Qualification: |
PHD |
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Date of Appointment : |
29.08.2009 |
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DIN No: |
02719110 |
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KEY EXECUTIVES
|
Name : |
Swati Jindal |
|
Designation : |
Secretary |
|
Address : |
H. No. 566-23, Sulekh Ram Street, Samrala Road, Khanna, Ludhiana – 141401, Punjab, India |
|
Date of Birth/Age : |
02.07.1988 |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
ALRPJ9464H |
MAJOR SHAREHOLDERS
As on 22.04.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sunil Kumar Chhabra |
|
100 |
|
Sushil Gupta |
|
100 |
|
Harish Chaunwal |
|
100 |
|
Mukesh Tarani |
|
100 |
|
Sakata Inx Corporation, Japan |
|
58299300 |
|
Vijay Kumar Seth |
|
100 |
|
Raakesh Datta |
|
100 |
|
Ranbir Singh Panesar |
|
100 |
|
Total |
|
58300000 |
Equity Share Break up (Percentage of Total Equity)
As on 22.04.2014
|
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 |
100.00 |
|
Total |
100.00 |
%20LIMITED%20-%20348412%2005-Nov-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of packaging and printing inks
and polyurethane resins. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
· U.F.C. Bank Limited, Upper Ground Floor, Mercantile House; 15; K.G. Marg, New Delhi, India · Bank of Tokyo – Mitsubishi, 3; Parliament Street, New Delhi, India
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Facilities : |
(Rs.
In Million)
|
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Auditors : |
|
|
Name : |
S.R. Batliboi and Company L.L.P. Chartered Accountants |
|
Address : |
Golf View, Corporate Tower B, Sector 42, Sector Road, Gurgaon, Haryana, India |
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PAN No.: |
AALFS0506L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Fellow Subsidiary Company : |
·
CDI Sakata Inx Corp. ·
Inx International Company ·
Inx International Company ·
Maoming Sakata Inx ·
Pt. Sakata Inx Indonesia ·
Sakata Inx Malaysia ·
Sakata Inx Shangai ·
Sakata Inx Vietnam |
CAPITAL STRUCTURE
As on 22.04.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Share |
Rs.10/- each |
Rs.600.000 Million |
|
100000 |
Preference Shares |
Rs.100/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs.610.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58300000 |
Equity Share |
Rs.10/- each |
Rs.583.000
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 |
583.000 |
583.000 |
583.000 |
|
(b) Reserves & Surplus |
834.564 |
659.490 |
542.559 |
|
(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) |
1417.564 |
1242.490 |
1125.559 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
300.500 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
300.500 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
136.932 |
203.023 |
308.947 |
|
(b) Trade
payables |
376.494 |
286.876 |
201.447 |
|
(c) Other
current liabilities |
144.591 |
100.475 |
64.880 |
|
(d) Short-term
provisions |
42.646 |
27.350 |
27.718 |
|
Total Current Liabilities
(4) |
700.663 |
617.724 |
602.992 |
|
|
|
|
|
|
TOTAL |
2418.727 |
1860.214 |
1728.551 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
695.245 |
467.647 |
470.917 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
27.432 |
40.901 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
10.099 |
11.981 |
5.418 |
|
(d) Long-term Loan and Advances |
32.250 |
27.687 |
12.961 |
|
(e) Other
Non-current assets |
7.943 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
745.537 |
534.747 |
530.197 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
536.538 |
385.232 |
327.557 |
|
(c) Trade
receivables |
958.844 |
863.476 |
722.269 |
|
(d) Cash
and cash equivalents |
82.491 |
30.924 |
38.091 |
|
(e) Short-term
loans and advances |
91.857 |
43.414 |
100.392 |
|
(f) Other
current assets |
3.460 |
2.421 |
10.045 |
|
Total
Current Assets |
1673.190 |
1325.467 |
1198.354 |
|
|
|
|
|
|
TOTAL |
2418.727 |
1860.214 |
1728.551 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3958.897 |
3453.565 |
3077.649 |
|
|
|
Other Income |
23.762 |
23.907 |
4.331 |
|
|
|
TOTAL (A) |
3982.659 |
3477.472 |
3081.980 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3041.736 |
2670.388 |
2339.311 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(65.257) |
(41.475) |
(17.017) |
|
|
|
Employees benefits expense |
266.797 |
230.289 |
198.306 |
|
|
|
Other expenses |
408.828 |
357.725 |
298.208 |
|
|
|
TOTAL (B) |
3652.104 |
3216.927 |
2818.808 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
330.555 |
260.545 |
263.172 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.612 |
26.019 |
17.317 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
303.943 |
234.526 |
245.855 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
63.680 |
67.420 |
66.799 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
240.263 |
167.106 |
179.056 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
77.590 |
50.176 |
55.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
162.673 |
116.930 |
123.192 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
576.057 |
452.661 |
431.297 |
|
|
TOTAL EARNINGS |
576.057 |
452.661 |
431.297 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw material and packing materials |
972.954 |
881.825 |
827.154 |
|
|
|
Spares and components |
3.838 |
5.814 |
1.580 |
|
|
|
Capital goods |
74.745 |
6.821 |
11.533 |
|
|
TOTAL IMPORTS |
1051.537 |
894.460 |
840.267 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.79 |
2.01 |
2.11 |
|
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 |
|
Net cash flow from (used in) operation |
148.915 |
223.308 |
77.954 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.11 |
3.39 |
4.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.35 |
7.54 |
8.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.98 |
9.18 |
10.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.13 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.16 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39 |
2.15 |
1.99 |
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 |
583.000 |
583.000 |
583.000 |
|
Reserves & Surplus |
542.559 |
659.490 |
834.564 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1125.559 |
1242.490 |
1417.564 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
300.500 |
|
Short Term borrowings |
308.947 |
203.023 |
136.932 |
|
Total
borrowings |
308.947 |
203.023 |
437.432 |
|
Debt/Equity
ratio |
0.274 |
0.163 |
0.309 |
%20LIMITED%20-%20348412%2005-Nov-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
3,077.649 |
3,453.565 |
3,958.897 |
|
|
|
12.214 |
14.632 |
%20LIMITED%20-%20348412%2005-Nov-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
3,077.649 |
3,453.565 |
3,958.897 |
|
Profit |
123.192 |
116.930 |
162.673 |
|
|
4.00% |
3.39% |
4.11% |
%20LIMITED%20-%20348412%2005-Nov-2015_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
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 |
|
|
|
Rupee term loans from banks |
300.500 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
116.932 |
181.469 |
|
Total |
417.432 |
181.469 |
CORPORATE INFORMATION
Subject is a 100% subsidiary of Sakata Inx Corporation, Japan and is engaged in the business of manufacturing and selling of packaging and printing inks and polyurethane resins.
OPERATIONS FOR THE
YEAR
During the year, the company has posted an impressive growth of 14% in sales value. The company has produced 20535 tons (Last year 18183 tons) and sold 20253 tons (Last year 17931 tons) of printing inks. During the year, companys margin was under pressure due to increase in prices of key raw materials.
EXPORTS
During the year, company has done export of 579 Mn (Last year 457 Mn) and recorded an increase of 26.70%. Company continues to strengthen its presence in various overseas markets.
OUTLOOK FOR THE
CURRENT YEAR
The company is optimistic about the future and it plans to increase its presence geographically both in domestic and overseas markets. Further with the new plant in western India, company expects logistic benefits and synergy to company’s growth plan.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
(i) Income tax Disallowances and addition to taxable income under Income Tax Act in respect:- |
|
|
|
Assessment year 2005-06 |
2.658 |
2.658 |
|
Assessment year 2006-07 |
4.685 |
4.685 |
|
Assessment year 2007-08 |
13.607 |
13.607 |
|
Assessment year 2008-09 |
8.557 |
8.557 |
|
Assessment year 2009-10 |
8.779 |
8.779 |
|
Assessment year 2010-11 |
8.586 |
0.000 |
|
|
|
|
|
(ii) Excise duty Show cause notices/ demands issued by excise authorities on various matters, against which the Company has filed replies or in process of that or against the demands the Company has gone on appeal. |
0.783 |
5.021 |
|
|
|
|
|
(ii) Custom duty Show cause notices/ demands issued by custom authorities, against which the Company has deposited the duty and in process of filing replies of that. |
0.158 |
0.158 |
|
|
|
|
|
(iii) Entry tax Demand of Entry Tax by the authorities in respect of financial year 2007-08 and 2008-09 for chargeability of entry tax on purchase of various items in the state of Rajasthan, against which the appeal is pending with Supreme Court of India. |
3.032 |
9.310 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10015159 |
25/08/2006 |
100,000,000.00 |
The Bank of Nova Scotia |
Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi, Delhi - 110001, India |
A03483054 |
*Date of modification Charges
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 65.45 |
|
UK Pound |
1 |
Rs. 100.96 |
|
Euro |
1 |
Rs. 72.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.