MIRA INFORM REPORT
|
Report No. : |
349403 |
|
Report Date : |
13.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROSSARI BIOTECH LIMITED |
|
|
|
|
Registered
Office : |
201 A – B, 2nd Floor, Akruti Corporate Park, L.B.S. Marg,
Next to GE Gardens, Kanjurmarg (West), Mumbai – 400079, Maharashtra |
|
Tel. No.: |
91-260-2651374 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.08.2009 |
|
|
|
|
Com. Reg. No.: |
11-194818 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.44.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2009PLC194818 |
|
|
|
|
IEC No.: |
0303080761 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECR4325G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Chemical and Pharmaceuticals Products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2009, having satisfactory track. For the year 2014, the company has achieved decent sales turnover
marked by satisfactory profit margin. Operational performance has improved as
compared to last year. The company possesses sound net worth base marked by adequate
liquidity position. Trade relation are fair. Business is active. Payment are usually
correct. The company can be considered for business dealing 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 |
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 DECLINED
Management non Co-operative (Tel No.: 91-22-61233800)
Continuously Ringing (91-260-2651374)
LOCATIONS
|
Registered Office : |
201 A – B, 2nd Floor, Akruti Corporate Park, L.B.S. Marg,
Next to GE Gardens, Kanjurmarg (West), Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-61233800 / 61233846 / 25777604 / 05 |
|
Fax No.: |
91-22-61233846 / 25796982 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Manufacturing
Facility: |
Located at Village Naroli, Silvassa near
Vapi |
DIRECTORS
As on 31.07.2014
|
Name : |
Mr. Sunil Srinivasan Chari |
|
Designation : |
Whole-Time Director |
|
Address : |
B-902, Valencia CHS, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India |
|
Date of Appointment : |
10.08.2009 |
|
DIN No.: |
00149083 |
|
|
|
|
Name : |
Mrs. Jyotishna Sunil Chari |
|
Designation : |
Director |
|
Address : |
B-902, Valencia CHS, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India |
|
Date of Appointment : |
10.08.2009 |
|
DIN No.: |
00149111 |
|
|
|
|
Name : |
Edward Walter Menezes |
|
Designation : |
Managing Director |
|
Address : |
601-602, Gem House, Hiranandani Gardens, Powai, Mumbai - 400706, Maharashtra, India |
|
Date of Appointment : |
10.08.2009 |
|
DIN No.: |
00149205 |
|
|
|
|
Name : |
Ms. Anita Menezes |
|
Designation : |
Director |
|
Address : |
601-602, Gem House, Hiranandani Gardens, Powai, Mumbai - 400706, Maharashtra, India |
|
Date of Appointment : |
10.08.2009 |
|
DIN No.: |
00149262 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sunil Chari |
|
1952620 |
|
Edward Menezes |
|
1952620 |
|
Mikhail Menezes |
|
15000 |
|
Usha Chari |
|
15000 |
|
lyotishna Chari |
|
95280 |
|
Anita Menezes |
|
95280 |
|
Rossari Biotech India Private Limited, India |
|
274200 |
|
Total |
|
4400000 |
Equity Share Break up (Percentage of Total Equity)
As on 31.07.2014
|
Category |
Percentage |
|
Bodies corporate |
6.23 |
|
Directors or relatives of Directors |
93.77 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemical and Pharmaceuticals Products. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
BGM and Company Chartered Accountants |
|
Address : |
111, Exim Link, Mulund Goregaon Link Road, Nahur (West), Mumbai- 400078, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AFHPM4329J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management
personnel and their relatives : |
U24110MH1999PTC121848
U51909MH2006PTC165531
U24100MH1997PTC105584 |
|
|
|
|
Subsidiary : |
U24110MH1999PTC121848 |
CAPITAL STRUCTURE
As on 31.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4400000 |
Equity Shares |
Rs.10/- each |
Rs.44.000
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 |
44.000 |
44.000 |
44.000 |
|
(b) Reserves & Surplus |
351.052 |
317.382 |
290.339 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
39.675 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
434.727 |
361.382 |
334.339 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
60.854 |
138.554 |
165.475 |
|
(b) Deferred tax liabilities
(Net) |
4.421 |
4.811 |
2.977 |
|
(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) |
65.275 |
143.365 |
168.452 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
232.665 |
223.498 |
196.046 |
|
(b) Trade payables |
223.339 |
202.572 |
177.782 |
|
(c) Other current liabilities |
113.671 |
95.874 |
96.018 |
|
(d) Short-term provisions |
11.520 |
9.884 |
7.739 |
|
Total
Current Liabilities (4) |
581.195 |
531.828 |
477.585 |
|
|
|
|
|
|
TOTAL |
1081.197 |
1036.575 |
980.376 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
391.441 |
416.831 |
427.547 |
|
(ii) Intangible Assets |
4.599 |
2.877 |
4.795 |
|
(iii) Capital work-in-progress |
70.729 |
58.341 |
3.812 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.000 |
2.000 |
1.975 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.899 |
8.089 |
5.969 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
473.668 |
488.138 |
444.098 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
333.745 |
276.289 |
241.533 |
|
(c) Trade receivables |
230.099 |
207.289 |
236.604 |
|
(d) Cash and cash equivalents |
3.286 |
5.080 |
2.325 |
|
(e) Short-term loans and
advances |
40.399 |
59.779 |
55.816 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
607.529 |
548.437 |
536.278 |
|
|
|
|
|
|
TOTAL |
1081.197 |
1036.575 |
980.376 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operation |
1372.397 |
1094.704 |
1178.693 |
|
|
Other Income |
2.269 |
1.522 |
2.507 |
|
|
TOTAL
(A) |
1374.666 |
1096.226 |
1181.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
963.501 |
753.792 |
821.615 |
|
|
Purchases of Stock-in-Trade |
0.000 |
3.350 |
2.006 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(37.868) |
(41.990) |
(11.841) |
|
|
Employees benefits expense |
103.207 |
70.637 |
61.358 |
|
|
Other expenses |
210.658 |
180.969 |
148.945 |
|
|
TOTAL
(B) |
1239.498 |
966.758 |
1022.083 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
135.168 |
129.468 |
159.117 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
46.703 |
45.798 |
51.235 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
88.465 |
83.670 |
107.882 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
46.604 |
49.968 |
46.385 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
41.861 |
33.702 |
61.497 |
|
|
|
|
|
|
|
Less |
TAX (H) |
5.634 |
1.835 |
11.179 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
36.227 |
31.867 |
50.318 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
161.382 |
134.338 |
86.798 |
|
|
|
|
|
|
|
Add |
Earlier
year excess proposed dividend and dividend distribution tax (L) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Other Appropriation |
2.557 |
2.557 |
2.557 |
|
|
Total
(M) |
2.557 |
2.557 |
2.557 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
195.052 |
163.648 |
134.338 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
147.798 |
93.021 |
100.057 |
|
|
TOTAL
EARNINGS |
147.798 |
93.021 |
100.057 |
|
|
|
|
|
|
|
|
CIF Value of imported components |
204.880 |
97.021 |
130.792 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
8.23 |
7.24 |
11.7 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
76.966 |
57.658 |
52.803 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
117.282 |
61.275 |
61.275 |
|
Net cash flow from operating activity |
62.388 |
23.278 |
22.845 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.64 |
2.91 |
4.27 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.85 |
11.83 |
13.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.15 |
3.45 |
6.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.09 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85 |
1.16 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.03 |
1.12 |
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 |
44.000 |
44.000 |
44.000 |
|
Reserves & Surplus |
290.339 |
317.382 |
351.052 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
39.675 |
|
Net
worth |
334.339 |
361.382 |
434.727 |
|
|
|
|
|
|
long-term borrowings |
165.475 |
138.554 |
60.854 |
|
Short term borrowings |
196.046 |
223.498 |
232.665 |
|
Current Maturities Of
Long-Term Debts |
52.803 |
57.658 |
76.966 |
|
Total
borrowings |
414.324 |
419.710 |
370.485 |
|
Debt/Equity
ratio |
1.239 |
1.161 |
0.852 |
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 |
1178.693 |
1094.704 |
1372.397 |
|
|
|
-7.126 |
25.367 |
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 |
1178.693 |
1094.704 |
1372.397 |
|
Profit |
50.318 |
31.867 |
36.227 |
|
|
4.27% |
2.91% |
2.64% |
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) |
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 |
NOTE: Registered office of the company has been shifted from 401, Omega, Main Street, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India to the present address w.e.f. 16.03.2010
MANAGEMENT
DISCUSSIONS AND ANALYSIS:
Business Operations
& Outlook:
The Company’s performance in 2013-14 has been satisfactory considering difficult economic conditions coupled with high inflationary market resulting in high input cost. Despite such challenges the Company maintained its market. The demand for the Company products is steady in both domestic and international markets. This has been possible due to focused on customers, product innovation, greater effeteness and efficiency everywhere and strengthening organizational leadership. During the year the Company has earned a net profit of Rs. 36.200 Million.
There has been a significant increase in sale of products for export and to the Export Oriented Units in India. This speaks for the quality of products, which are to world standards. The company considers Export and sales to Export Oriented Units as a key thrust area as it involves direct competition against international makers.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and Advances from Related parties |
1.953 |
7.255 |
|
Total |
1.953 |
7.255 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10584871 |
27/07/2015 |
106,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limi |
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, Maharashtra - 400001, INDIA |
C61178141 |
|
2 |
10540272 |
01/07/2015 * |
228,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai,
Maharashtra - 400051, INDIA |
C62225610 |
|
3 |
10358555 |
13/04/2012 |
1,525,000.00 |
The Saraswat Co-operative Bank Ltd |
Matuga East Branch, Pioneer High School Bldg, Tel |
B40792103 |
|
4 |
10335957 |
25/12/2011 |
16,185,000.00 |
DEPARTMENT OF BIOTECHNOLOGY |
6-8TH FLOOR,BLOCK NO. 2,, CGO COMPLEX,LODHI ROAD, NEW DELHI, Delhi -
110003, INDIA |
B32290066 |
|
5 |
10201909 |
05/12/2011 * |
134,000,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B27153220 |
|
6 |
10199270 |
28/11/2014 * |
287,150,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
C36545465 |
|
7 |
10195764 |
23/09/2015 * |
392,150,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
C66809658 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
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.66.33 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
46 |
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.