MIRA INFORM REPORT
|
Report No. : |
348416 |
|
Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPECTRUM ETHERS LIMITED (w.e.f. 30.08.1994) |
|
|
|
|
Formerly Known
As : |
SPECTRUM ETHERS PRIVATE LIMITED |
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|
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|
Registered
Office : |
Gat No – 367, Rasegaon Village, Nashik Peth Road, Nashik – 422202,
Maharashtra |
|
Tel. No.: |
91-2557-226371/ 226389/2570744/ 226390 |
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|
|
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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 : |
02.02.1993 |
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|
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Com. Reg. No.: |
11-070620 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 134.965 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1993PLC070620 |
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|
|
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IEC No.: |
0397084790 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Applicable |
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|
|
|
PAN No.: [Permanent Account No.] |
AAECS0266M |
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|
|
Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Pesticides Formulations. |
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No. of Employees
: |
150(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in 1993 by Dr. Milind S. Kolhe. It commenced
commercial operations in 1998 with manufacturing facility located in Rasegaon
Village. It manufactures technical grade and formulated organo-phosphorous
pesticides. It has satisfactory track record. The rating takes into consideration low reserves as well as low
profitability of the company. However, it possesses a decent profile marked
by adequate networth base and shown a significant growth in its turnover. The rating also takes into consideration long standing promoter
experience spanning over two decades in the agrochemical industry and the
company’s established market position in the manufacture and sale of
Technical Phorate and Technical Profenofos in the domestic market. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limit – Term Loan = BBB- |
|
Rating Explanation |
Having moderate degree of safety and carry moderate credit risk. |
|
Date |
March 2015 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund Based Limit = A3 |
|
Rating Explanation |
Having moderate degree of safety and carry higher credit risk.
Moderate credit risk. |
|
Date |
March 2015 |
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. Chandrashekhar Kirtane |
|
Designation : |
Account Head |
|
Contact No.: |
91-253-2570744 |
|
Date : |
04.11.2015 |
LOCATIONS
|
Registered Office/ Factory 1: |
Gat No – 367, Rasegaon Village, Nashik Peth Road, Nashik – 422202,
Maharashtra, India |
|
Tel. No.: |
91-2557-226371/ 226389/2570744 |
|
Mobile No.: |
91-9403697327 (Mr. Chandrashekhar Kirtane) |
|
Fax No.: |
91-2557-226390 |
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E-Mail : |
|
|
Web: |
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|
Location: |
Owned |
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Locality: |
Industrial |
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|
|
|
Head Office/ Sales Office : |
201, Saba Palace, 4th Road, Khar (West), Mumbai – 400054,
Maharashtra, India |
|
Tel. No.: |
91-22-26487769/ 26054452/26463746 |
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Fax No.: |
91-22-26487762 |
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E-Mail : |
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|
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Corporate Office : |
Flat No.5, Ayodhya Building, D’Souza – Shivgiri Colony, Nashik – 422005,
Maharashtra, India |
|
Tel. No.: |
91-253-2570744 |
|
Fax No.: |
91-253-2582696 |
|
|
|
|
Branch: |
Located at:
|
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Milind Shankarrao Kolhe |
|
Designation : |
Managing Director |
|
Address : |
1201, Vaitarna Worli Sagar Co-Operative Housing Society, Shri
Pochkhanwala Road, Worli, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
18.05.1959 |
|
Qualification : |
M.S |
|
Date of Appointment : |
08.04.1994 |
|
PAN: |
AABPK0189P |
|
DIN No.: |
00270804 |
|
|
|
|
Name : |
Mr. Shaileshbhai Vasantlal Babariya |
|
Designation : |
Director |
|
Address : |
74854, Shri Rampur, Taluka Shri Rampur, Ahmed Nagar – 413709,
Maharashtra, India |
|
Date of Birth/Age : |
17.09.1956 |
|
Qualification : |
B.A |
|
Date of Appointment : |
28.12.1998 |
|
DIN No.: |
00441746 |
|
|
|
|
Name : |
Mr. Jugal Kishor Agrawal |
|
Designation : |
Director |
|
Address : |
Agrawal Building, P/No. 926, C.A. Road, Deshpande, L/D Wardhman Nagar,
Nagpur – 440008, Maharashtra, India |
|
Date of Birth/Age : |
23.12.1957 |
|
Qualification : |
B.A |
|
Date of Appointment : |
11.12.1995 |
|
DIN No.: |
00270955 |
|
|
|
|
Name : |
Mr. Gopal Agrawal |
|
Designation : |
Director |
|
Address : |
E 15, Konark Park, Dhole Patil Road, Pune – 411001, Maharashtra, India
|
|
Date of Birth/Age : |
06.02.1957 |
|
Qualification : |
M.D |
|
Date of Appointment : |
02.09.2001 |
|
DIN No.: |
03197304 |
KEY EXECUTIVES
|
Name : |
Mr. Chandrashekhar Kirtane |
|
Designation : |
Account Head |
|
|
|
|
Name : |
MRM Associates |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
As on: 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
2.77 |
|
Directors or relatives of Directors |
67.30 |
|
Other top fifty shareholders |
8.35 |
|
Others |
21.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Pesticides Formulations. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
Taiwan |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
150 (Approximately) |
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Bankers : |
DBS Bank Limited, DLF Capitol Point, Ground Floor and First Floor, Baba Kharak Singh Marg, Connaught Place, New Delhi - 110001, INDIA
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Facilities : |
(Rs.
In Million)
Note: Long Term
Borrowing: Secured Term Loan: Above Term Loan secured by first charges by way of hypothecation of the company's entire goods, movables and others assets present and future including documents of title to the goods & other assets such as book debts, claims including claims by way of refund of customs. Excise duty draw back claims insurance grantees, uncalled capital and all machinery present & future of such from satisfactory to the bank. Further Gauranted by Directors. Short Term
Borrowings: Secured Loans repayable on demand: Above Secured Term Loan secured by first charges by way of hypothecation of the company's entire goods, movables and others assets present and future including documents of title to the goods & other assets such as book debts, cash incentives, claims including claims by way of refund of customs, excise duty draw back claims, insurance, grantees, uncalled capital and all machinery present & future of such from satisfactory to the bank. Further Gauranted by Directors.
|
|
Auditors : |
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|
Name : |
S.K. Kavathekar and Company Chartered Accountants |
|
Address : |
Shree Ganesh Housing Society, Bhavani Shankar Road, Near Kabutar Khana, Dadar (West), Mumbai – 400028, Maharashtra, India |
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PAN No.: |
AFZPK5200N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on: 30.09.2014
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500000 |
Equity Shares |
Rs.10/- each |
Rs.135.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13496537 |
Equity Shares |
Rs.10/- each |
Rs.134.965
Million |
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|
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FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
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 |
134.965 |
94.967 |
94.967 |
|
(b) Reserves & Surplus |
93.885 |
69.434 |
41.782 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
17.600 |
17.600 |
|
Total
Shareholders’ Funds (1) + (2) |
228.850 |
182.001 |
154.349 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
54.169 |
117.537 |
114.506 |
|
(b) Deferred tax liabilities (Net) |
30.877 |
35.807 |
44.408 |
|
(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) |
85.046 |
153.344 |
158.914 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
158.264 |
151.012 |
125.719 |
|
(b) Trade
payables |
562.428 |
393.431 |
345.893 |
|
(c) Other
current liabilities |
34.107 |
47.312 |
42.337 |
|
(d) Short-term
provisions |
20.163 |
50.505 |
21.231 |
|
Total Current
Liabilities (4) |
774.962 |
642.260 |
535.180 |
|
|
|
|
|
|
TOTAL |
1088.858 |
977.605 |
848.443 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
273.866 |
288.745 |
296.552 |
|
(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 |
0.107 |
0.107 |
0.107 |
|
(c) Deferred tax assets (net) |
39.822 |
34.622 |
25.841 |
|
(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 |
313.795 |
323.474 |
322.500 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
396.695 |
433.260 |
301.345 |
|
(c) Trade
receivables |
318.629 |
160.214 |
174.586 |
|
(d) Cash
and cash equivalents |
25.976 |
21.330 |
13.553 |
|
(e)
Short-term loans and advances |
33.763 |
39.327 |
36.459 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
775.063 |
654.131 |
525.943 |
|
|
|
|
|
|
TOTAL |
1088.858 |
977.605 |
848.443 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1590.555 |
1140.742 |
987.453 |
|
|
|
Other Income |
2.928 |
3.500 |
1.146 |
|
|
|
TOTAL (A) |
1593.483 |
1144.242 |
988.599 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1088.307 |
826.850 |
664.845 |
|
|
|
Employees benefits expense |
39.850 |
35.556 |
30.402 |
|
|
|
Other expenses |
365.920 |
172.520 |
177.091 |
|
|
|
TOTAL
(B) |
1494.077 |
1034.926 |
872.338 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
99.406 |
109.316 |
116.261 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.443 |
47.804 |
52.701 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.963 |
61.512 |
63.560 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
32.878 |
31.281 |
28.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.085 |
30.231 |
35.009 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.634 |
2.580 |
1.556 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.451 |
27.651 |
33.453 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
62.550 |
34.899 |
30.628 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
75.001 |
62.550 |
64.081 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
60.260 |
61.158 |
37.314 |
|
|
TOTAL EARNINGS |
60.260 |
61.158 |
37.314 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
404.583 |
200.301 |
138.332 |
|
|
TOTAL IMPORTS |
404.583 |
200.301 |
138.332 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.08 |
2.91 |
1.61 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
34.108 |
47.313 |
42.337 |
|
Cash generated from operations |
NA |
NA |
|
|
Net Cash flows from operating activities |
111.385 |
86.842 |
114.591 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.78 |
2.42 |
3.39 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.25 |
9.58 |
11.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.25 |
3.21 |
4.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.17 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.08 |
1.74 |
1.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
1.02 |
0.98 |
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 |
94.967 |
94.967 |
134.965 |
|
Reserves & Surplus |
41.782 |
69.434 |
93.885 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
17.600 |
17.600 |
0.000 |
|
Net worth |
154.349 |
182.001 |
228.850 |
|
|
|
|
|
|
long-term borrowings |
114.506 |
117.537 |
54.169 |
|
Short term borrowings |
125.719 |
151.012 |
158.264 |
|
Current Maturities Of
Long-Term Debts |
42.337 |
47.313 |
34.108 |
|
Total borrowings |
282.562 |
315.862 |
246.541 |
|
Debt/Equity ratio |
1.831 |
1.735 |
1.077 |
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 |
987.453 |
1140.742 |
1590.555 |
|
|
|
15.524 |
39.432 |
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 |
987.453 |
1140.742 |
1590.555 |
|
Profit |
33.453 |
27.651 |
12.451 |
|
|
3.39% |
2.42% |
0.78% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
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 |
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs. In Million)
|
Particular |
As on 31.03.2014 |
As on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Rupee term loans from Bank |
0.795 |
3.554 |
|
Rupee term loans from Others |
20.605 |
54.490 |
|
Total |
21.400 |
58.044 |
Note:
Long Term
Borrowing:
Unsecured Loan: Above unsecured Term loans are guaranteed by Directors.
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Demand against Company not acknowledged as debt: |
|
|
Letter of Credit |
151.514 |
|
Guarantees |
26.225 |
|
Bills |
152.632 |
PERFORMANCE:
In the current year the company has achieved a net turnover of Rs.1625.400 Million. The growth is higher by 60.83% as compared to previous year. The Company has reported a profit of 75.100 Million before Interest & depreciation. PAT is Rs. 12.500 Million as against of Rs. 27.600 for previous year. The cash accruals generated during the year amounting of Rs.45.300 Million has been ploughed back into the operation of the company to meet higher needs of working capital. With a view to become multi-products company in the field of pesticides, the company is planning to raise long term funds to meet cost of capital expenditure and long term working capital requirements.
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10589697 |
04/09/2015 * |
616,800,000.00 |
State Bank of India |
Sir P. M. Road Branch, Gresham House, Ground Floor, Fort, Mumbai - 400001, Maharashtra, INDIA |
C64087687 |
|
2 |
10579125 |
26/05/2015 |
20,000,000.00 |
DBS Bank Limited |
DLF Capitol Point, Ground Floor and First Floor, Baba Kharak Singh Marg, Connaught Place, New Delhi - 110001, INDIA |
C58511650 |
|
3 |
10579129 |
26/05/2015 |
200,000,000.00 |
DBS Bank Limited |
DLF Capitol Point, Ground Floor and First Floor, Baba Kharak Singh Marg, Connaught Place, New Delhi - 110001, INDIA |
C58512930 |
|
4 |
10418581 |
28/03/2013 |
40,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, N.G.N VAIDYA MARG, BANK STREET, HORNIMAN CIRCLE, FORT, MUMBAI - 400001, Maharashtra, INDIA |
B72846066 |
|
5 |
80044954 |
04/09/2015 * |
616,800,000.00 |
State Bank of India |
Sir P. M. Road Branch, Gresham House, Ground Floor, Fort, Mumbai - 400001, Maharashtra, INDIA |
C64088677 |
|
6 |
80009403 |
04/07/2012 * |
516,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, N.G.N VAIDYA MARG, BANK STREET, HORNIMAN CIRCLE, FORT, MUMBAI - 400001, Maharashtra, INDIA |
B56662323 |
* Date of charge modification
FIXED ASSETS:
- Land
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipment
- Computers
- Vehicles
- 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 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.65.57 |
|
|
1 |
Rs.101.13 |
|
Euro |
1 |
Rs.71.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
|
42 |
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.