MIRA INFORM REPORT
|
Report No. : |
350167 |
|
Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
BIOMAX FUELS LIMITED |
|
|
|
|
Registered
Office : |
Plot no: S and T, Special Economic Zone, Duvvada,
Visakhapatnam-530046, Andhra Pradesh |
|
Tel. No.: |
91-891-2541281 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2014 |
|
|
|
|
Date of
Incorporation : |
05.09.2005 |
|
|
|
|
Com. Reg. No.: |
01-047361 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1213.120 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15143AP2005PLC047361 |
|
|
|
|
IEC No.: |
0905012526 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDB03342D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB6876C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Diesel Fuels. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2005 having
moderate track. Financial position of the company is weak. It is has incurred some accumulated
losses and also profitability of the company is under pressure. Further, the rating also takes into consideration huge unfavorable gap
between trade payable and trade receivables. However, Business is active. Payment terms are reported as slow. The company can be considered for business dealings on safe and
secured 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 Rating=C |
|
Rating Explanation |
Poor Credit Quality and limited prospects of
recovery |
|
Date |
27.11.2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-Term Rating=A4 |
|
Rating Explanation |
Minimal degree of safety and carry very high
credit risk |
|
Date |
27.11.2014 |
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.
LOCATIONS
|
Registered Office/ Factory : |
Plot no: S and T, Special Economic Zone, Duvvada,
Visakhapatnam-530046, Andhra Pradesh, India |
|
Tel. No.: |
91-891-2541281 |
|
Fax No.: |
91-891-2709079 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Admin Office : |
15, III Avenue, Indiranagar, Adyar, Chennai – 600020,
Tamilnadu, India |
|
Tel/Fax: |
91-44-24454756/ 24454332 |
|
E-Mail : |
DIRECTORS
AS ON 31.12.2014
|
Name : |
Mr. Kalyan Chakravarthy Mula |
|
Designation : |
Director |
|
Address : |
8-2-503 Road No. 7, Khairatabad, Banjara Hills, Khairatabad,,
Hyderabad-500034, Telangana, India |
|
Date of Birth/Age : |
07.05.1983 |
|
Qualification : |
Bachelors
Degree in Operations-MIS and MD with Honors in Marketing |
|
Date of Appointment : |
05.09.2005 |
|
PAN No.: |
AIGPM0641K |
|
DIN No.: |
00412182 |
|
|
|
|
Name : |
Mr. Ravinder Mula |
|
Designation : |
Managing director |
|
Address : |
8-2-503 Road No. 7, Khairatabad, Banjara Hills, Khairatabad,,
Hyderabad-500034, Telangana, India |
|
Date of Birth/Age : |
20.08.1956 |
|
Date of Appointment : |
05.09.2005 |
|
PAN No.: |
AFOPM6879A |
|
DIN No.: |
00412239 |
|
|
|
|
Name : |
Mr. Nidamangala Srinivasa Balamukundan |
|
Designation : |
Director |
|
Address : |
No.1, Ragavaiah Road, T. Nagar, Chennai-600017, Tamil Nadu, India |
|
Date of Birth/Age : |
15.09.1963 |
|
Qualification : |
Graduation
in Chemistry and a Chartered Accountant |
|
Date of Appointment : |
22.03.2007 |
|
PAN No.: |
AAFPB9161J |
|
DIN No.: |
00535211 |
|
|
|
|
Name : |
Mr. Nidamangala Srinivasa Venkatesh |
|
Designation : |
Director |
|
Address : |
No.4/238, Sankarapuram 1st Street, Palavakkam, Chennai-600041, Tamil Nadu,
India |
|
Date of Birth/Age : |
03.11.1965 |
|
Qualification : |
Doctor
of Philosophy |
|
Date of Appointment : |
22.03.2007 |
|
PAN No.: |
ABOPV0034C |
|
DIN No.: |
01008914 |
|
|
|
|
Name : |
Mr. Kishore Kumar Metlapally |
|
Designation : |
Director |
|
Address : |
10-1-18/42, A C Guards, Shyam Nagar, Khairatabad, Hyderabad- 500004,
Telangana, India |
|
Date of Birth/Age : |
02.05.1952 |
|
Date of Appointment : |
22.03.2007 |
|
DIN No.: |
01225851 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Ravinder Mula |
|
6555000 |
|
Kalyan Chakravarthy Mula |
|
3200000 |
|
M. Mrudula Gowri |
|
10000 |
|
M. Anila Gowri |
|
10000 |
|
M. V. Radhika |
|
267500 |
|
P. Arjun Rao |
|
2000 |
|
Kishore Kumar Metlapally |
|
52000 |
|
Alltime Projects Limited, India |
|
5289500 |
|
N. S. Venkatesh |
|
3200000 |
|
Nidamangala Srinivasa Balamukundan |
|
3200000 |
|
T. Vijayender |
|
76000 |
|
T. Vinayender |
|
321000 |
|
T. Veerender |
|
516000 |
|
Vishwas Agro Plantations Private Limited, India |
|
1000 |
|
T. Satish Kumar |
|
3500 |
|
T. Kishore Kumar |
|
3500 |
|
T. Yadaiah |
|
143000 |
|
Total |
|
22850000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Alltime Projects Limited |
|
53512000 |
|
Vishwas Agro Plantations Private Limited |
|
10250000 |
|
M. Ravinder |
|
24650000 |
|
T. Vijayendar |
|
750000 |
|
T. Vinayendar |
|
3200000 |
|
T. Veerendar |
|
5150000 |
|
T. Yadalah |
|
887000 |
|
T. Satish Kumar |
|
31500 |
|
T. Kishore Kumar |
|
31500 |
|
Total |
|
98462000 |
AS ON 31.12.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
23.15 |
|
Directors
or relatives of directors |
76.85 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diesel Fuels. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Available |
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Imports : |
Not Available |
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|
Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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|
Bankers : |
· State Bank of India Leather and International Branch, MVJ Towers, 177/1, P. H. Road, Kilpauk, Chennai - 600010, Tamil Nadu, India |
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|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ramasamy
Koteswara Rao and Company Chartered Accountants |
|
Address : |
Plot
No. 238/A, MLAs Colony Road No. 12, Banjara Hills, Hyderabad -500034,
Telangana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFR9006F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Other Related Party : |
Yantra Fintech (India) Limited (CIN No. : U65993TN2005PLC055804) |
|
|
|
|
Subsidiary Company : |
PT. Primero Overseas Services |
|
|
|
|
Associate Company: |
·
Proalgen Biotech Limited (CIN No.: U24117TN1997PLC037629) ·
Biomax Life Sciences Limited (CIN No.:
U01119TG2005PLC047617) |
CAPITAL STRUCTURE
AS ON 30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Million |
|
100,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 1000.000 Million |
|
|
Total |
|
Rs. 1250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,850,000 |
Equity Shares |
Rs. 10/- each |
Rs. 228.500
Million |
|
98,462,000 |
Preference Shares |
Rs. 10/-
each |
Rs. 984.620
Million |
|
|
Total |
|
Rs. 1213.120
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1213.120 |
1213.120 |
900.000 |
|
(b) Reserves & Surplus |
(519.391) |
(323.546) |
(198.149) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
197.300 |
0.000 |
313.120 |
|
Total
Shareholders’ Funds (1) + (2) |
891.029 |
889.574 |
1014.971 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1022.252 |
890.490 |
735.195 |
|
(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) |
1022.252 |
890.490 |
735.195 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
333.545 |
401.666 |
453.968 |
|
(b)
Trade payables |
1061.409 |
986.588 |
75.092 |
|
(c)
Other current liabilities |
46.629 |
194.193 |
176.570 |
|
(d)
Short-term provisions |
25.421 |
31.111 |
5.594 |
|
Total
Current Liabilities (4) |
1467.004 |
1613.558 |
711.224 |
|
|
|
|
|
|
TOTAL |
3380.285 |
3393.622 |
2461.390 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1042.721 |
1099.198 |
1153.572 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
489.156 |
472.231 |
432.179 |
|
(iv) Intangible assets under development |
172.800 |
112.057 |
94.992 |
|
(b) Non-current
Investments |
135.431 |
135.431 |
135.431 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
3.614 |
|
Total
Non-Current Assets |
1840.108 |
1818.917 |
1819.788 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1266.403 |
1317.627 |
406.273 |
|
(c)
Trade receivables |
35.846 |
51.972 |
28.151 |
|
(d)
Cash and cash equivalents |
92.429 |
57.299 |
76.999 |
|
(e)
Short-term loans and advances |
145.499 |
147.807 |
130.179 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1540.177 |
1574.705 |
641.602 |
|
|
|
|
|
|
TOTAL |
3380.285 |
3393.622 |
2461.390 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1595.582 |
1042.982 |
427.381 |
|
|
|
Other Income |
2.504 |
18.959 |
10.583 |
|
|
|
TOTAL (A) |
1598.086 |
1061.941 |
437.964 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1367.648 |
1282.224 |
481.877 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(21.829) |
(450.229) |
(210.772) |
|
|
|
Employees benefits expense |
30.276 |
27.863 |
18.860 |
|
|
|
Other expenses |
246.129 |
140.984 |
90.490 |
|
|
|
TOTAL (B) |
1622.224 |
1000.842 |
380.455 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(24.138) |
61.099 |
57.509 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
114.823 |
129.742 |
173.888 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(138.961) |
(68.643) |
(116.379) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
56.884 |
56.753 |
47.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(195.845) |
(125.396) |
(163.675) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(195.845) |
(125.396) |
(163.675) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1561.900 |
1013.800 |
455.200 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1148.489 |
1654.569 |
134.812 |
|
|
|
Capital Goods |
0.000 |
0.746 |
0.000 |
|
|
TOTAL IMPORTS |
1148.489 |
1655.315 |
134.812 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.61) |
(1.03) |
(1.82) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
Current Maturities of Long term debt |
0.000 |
141.700 |
150.000 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
(48.278) |
50.088 |
(16.619) |
KEY
RATIOS
|
PARTICULARS |
|
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(12.27) |
(12.02) |
(38.30) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(1.51) |
5.86 |
13.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.58) |
(4.69) |
(9.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22) |
(0.14) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.52 |
1.61 |
1.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
0.98 |
0.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
900.000 |
1213.120 |
1213.120 |
|
Reserves & Surplus |
(198.149) |
(323.546) |
(519.391) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
313.120 |
0.000 |
197.300 |
|
Net
worth |
1014.971 |
889.574 |
891.029 |
|
|
|
|
|
|
Long-term borrowings |
735.195 |
890.490 |
1022.252 |
|
Short term borrowings |
453.968 |
401.666 |
333.545 |
|
CURRENT MATURITIES OF LONG-TERM
DEBTS |
150.000 |
141.700 |
0.000 |
|
Total
borrowings |
1339.163 |
1433.856 |
1355.797 |
|
Debt/Equity
ratio |
1.319 |
1.612 |
1.522 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
427.381 |
1042.982 |
1595.582 |
|
|
|
144.040 |
52.983 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
427.381 |
1042.982 |
1595.582 |
|
Profit |
-163.675 |
-125.396 |
-195.845 |
|
|
-38.30% |
-12.02% |
-12.27% |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10145928 |
11/07/2015 * |
1,468,000,000.00 |
STATE BANK OF INDIA |
LEATHER AND INTERNATIONAL
BRANCH, M.V.J. TOWERS,, |
C58692211 |
UNSECURED LOANS
|
PARTICULARS |
30.06.2014 (Rs.
In Million) |
30.06.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate deposits |
377.194 |
200.000 |
|
Loans and advances from related parties |
645.058 |
685.490 |
|
|
|
|
|
Total |
1022.252 |
885.490 |
PERFORMANCE
During the year the company stabilized its operations and also increased the volume of operations. Efforts were made to develop the process for more non-edible feed stocks such as Palm Fatty Acid Distillate (PFAD), as part of organisational strategy, for moving towards sustainable feed stocks. The International market also witnessed lot of changes in approving the feed stocks that are eligible for double accounting and the European Union countries came out with new certification requirement for traceability of sustainable products.
Towards this end, the company has secured 2BSvs certification from Bureau Veritas (BV) and ISCC Certification from Control Union, for production of sustainable biodiesel from as early as February 2013. The company presently sells predominantly to the European Union and is in the process of venturing in to the US and the Indian Domestic Market.
FIXED ASSETS:
Tangible Assets
·
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,
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. 65.98 |
|
|
1 |
Rs. 100.12 |
|
Euro |
1 |
Rs. 70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND/ ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
15 |
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.
S