MIRA INFORM REPORT
|
Report No. : |
349997 |
|
Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
AHIMSA INDUSTRIES LIMITED (w.e.f. 24.05.2015) |
|
|
|
|
Formerly Known
As : |
AHIMSA INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
102, Iscon Elegance, Near Shapath 5, Prahlad Nagar Junction, S. G.
Highway, Ahmedabad – 380051, Gujarat |
|
Tel. No.: |
91-79-27445901 / 02 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.01.1996 |
|
|
|
|
Com. Reg. No.: |
04-028679 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.321 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200GJ1996PLC028679 |
|
|
|
|
IEC No.: |
0895008688 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AHMA00252A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Bakery and Confectionary
Products and Pet Preform. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Ahimsa Industries Limited (AIPL) is Ahmedabad-based (Gujarat)
incorporated in the year 1996 by Mr. Ashutosh Gandhi and his wife Mrs. Sneha
Gandhi. As per registrar of companies the date of balance sheet (i.e. financial
filed) is show as 31.03.2015 but the documents related to the financials are
not been available from any sources. The ratings draw strength from the vast experience of the promoters,
favourable outlook for the packaging industry and comfortable financial risk
profile because of a moderate net worth, increased cash accruals, moderate
gearing and average debt protection metrics. Rating is constrained on account of its modest scale of operations,
declining profit margin, working capital-intensive operations, susceptibility
of its profit margins to volatility in raw material prices and foreign
exchange rates. However, trade relation seems to be fair. Business is active. Payment
terms are slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities BB |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
September 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
September 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.
LOCATIONS
|
Registered Office : |
102, Iscon Elegance, Near Shapath 5, Prahlad Nagar Junction, S. G.
Highway, Ahmedabad – 380051, Gujarat, India |
|
Tel. No. : |
91-79-27445901 / 02 |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
160, Devraj Industrial Park, Piplaj Pirana Road, Piplaj – 382405,
Ahmedabad, Gujarat, India |
DIRECTORS
As on: 29.09.2014
|
Name : |
Mr. Ashutosh Damubhai Gandhi |
|
Designation : |
Director |
|
Address : |
C-426, Condominium, Near Sarthi Party Plot, Bodekdev, Ahmedabad –
380054, Gujarat, India |
|
Date of Birth/Age : |
16.07.1966 |
|
Date of Appointment : |
24.01.1996 |
|
DIN No.: |
00654563 |
|
|
|
|
Name : |
Mrs. Sneha Ashutosh Gandhi |
|
Designation : |
Director |
|
Address : |
C-426, Condominium, Near Sarthi Party Plot, Bodekdev, Ahmedabad –
380054, Gujarat, India |
|
Date of Birth/Age : |
03.06.1968 |
|
Date of Appointment : |
06.10.1999 |
|
DIN No.: |
00654675 |
|
|
|
|
Name : |
Mr. Jignesh Anubhai Shah |
|
Designation : |
Director |
|
Address : |
B-101, Sahaj Apartment, Next To Suvidha Cross Road, Paldi, Ahmedabad - 380007, Gujarat, India |
|
Date of Appointment : |
18.12.2014 |
|
DIN No.: |
00006339 |
|
|
|
|
Name : |
Mr. Bhadresh Arvindbhai Trivedi |
|
Designation : |
Director |
|
Address : |
B/10 Sarita Appartment, Judges Bunglow, Cross Road, Bodakdev, Ahmedabad - 380015, Gujarat, India |
|
Date of Appointment : |
24.06.2015 |
|
DIN No.: |
07218969 |
|
|
|
|
Name : |
Mr. Ashish Navnitlal Shah |
|
Designation : |
Director |
|
Address : |
1, Shital Chhaya Apartments, Near Hirabaug Crossing, Ambawadi, Ellisebridge, Ahmedabad-380006, Gujarat, India |
|
Date of Appointment : |
18.12.2014 |
|
DIN No.: |
00089075 |
KEY EXECUTIVES
|
Name : |
Mr. Gajara Jagirambhai Joshi |
|
Designation : |
Secretary |
|
Address : |
G-86/1024 Shivam Apposits, Near Vyas Vadi, Akhbarnagar, New Vadaj, Ahmedabad-380013, Gujarat, India |
|
Date of Appointment : |
16.01.2015 |
|
PAN |
BAZPJ8030P |
|
|
|
|
Name : |
Mr. Shrenikbhai Madhukarbhai Khatwala |
|
Designation : |
Chief Executive Officer |
|
Address : |
D-402, Kaladeep Opposites, B/H Dhananjay Tower, Off 100 Ft Road, Satellite, Ahmedabad-380015, Gujarat, India |
|
Date of Appointment : |
16.01.2015 |
|
PAN |
ACAPK2452N |
|
|
|
|
Name : |
Mr. Sanjay Bholashanker Agrawal |
|
Designation : |
Chief Executive Officer |
|
Address : |
E-32, Sharnam-9, Opposits Chandan Party Plot, Near Prernatirth Derasar, Jodhpur, Satellite,, Ahmedabad-380015, Gujarat, India |
|
Date of Appointment : |
24.06.2015 |
|
PAN: |
AAJPA0866H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
LIST OF ALLOTMENT
As on: 09.10.2015
LIST OF ALLOTEES FILE ATTACHED
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Ashutosh Damubhai Gandhi |
335000 |
|
Sneha Ashutosh Gandhi |
262325 |
|
Saloni Ashutosh Gandhi |
34762 |
|
Ashutosh Gandhi HUF |
1 |
|
Salim Lakhani |
1 |
|
Rajin Gupta |
1 |
|
|
|
|
Total |
632090 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.99 |
|
Other top 50 shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Bakery and Confectionary
Products and Pet Preform. |
|
|
|
|
Products : |
---- |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS AS ON (31.03.2013)
|
Particulars |
Unit |
Registered
Capacity |
Installed
Capacity |
Actual Production |
|
Mould and Dies |
Nos. |
10 |
Nil |
-- |
|
Plastic Recycling Machine |
Nos. |
05 |
Nil |
-- |
|
Other Machinery |
Nos. |
03 |
Nil |
-- |
|
Pet Preform |
Nos. |
3000 |
3000 |
853.845 |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Bankers : |
v Corporation
Bank, S.G. Highway Branch, Corporate House, Judges Bunglow Road, Ahmedabad - 380054,
Gujarat, India v HDFC Bank
Limited, HDFC Bank, Housesenapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India v State Bank of
India, Laghu Udyog Branch, Near Gandhi Nagar Railway Station, Ahmedabad –
380014, Gujarat, India
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
K.H. Trivedi and Company Chartered Accountants |
|
Address : |
105, Soham Square 57, Chaitanyanaagar Society, Near Stadium Petrol Pump, Ahmedabad – 380014, Gujarat, India |
|
Tel No.: |
91-79-26563430/ 26443167/ 27478178 |
|
Mobile No. : |
91-9825689049 |
|
E-Mail : |
|
|
PAN
No. : |
AAEPT8071B |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Company in which directors
of the company is able to exercise control or have significant influence : |
General Additives Private Limited |
CAPITAL STRUCTURE
After as on:
30.09.2015
Authorised Capital : Rs. 75.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 54.740
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
632090 |
Equity Shares |
Rs.10/- each |
Rs.6.321 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 |
6.321 |
6.321 |
5.293 |
|
(b) Reserves & Surplus |
46.928 |
45.219 |
25.494 |
|
(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) |
53.249 |
51.540 |
30.787 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
30.365 |
18.587 |
21.418 |
|
(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) |
30.365 |
18.587 |
21.418 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
102.799 |
61.564 |
9.414 |
|
(b) Trade
payables |
13.240 |
4.786 |
3.481 |
|
(c) Other
current liabilities |
29.041 |
75.100 |
49.803 |
|
(d) Short-term
provisions |
0.130 |
3.585 |
0.142 |
|
Total Current
Liabilities (4) |
145.210 |
145.035 |
62.840 |
|
|
|
|
|
|
TOTAL |
228.824 |
215.162 |
115.045 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
129.981 |
128.805 |
90.587 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
2.043 |
|
(d) Long-term Loan and Advances |
3.637 |
4.561 |
4.615 |
|
(e) Other
Non-current assets |
0.000 |
0.021 |
0.030 |
|
Total Non-Current
Assets |
133.618 |
133.387 |
97.275 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
45.413 |
51.700 |
6.624 |
|
(c) Trade
receivables |
21.531 |
9.580 |
3.673 |
|
(d) Cash
and cash equivalents |
13.373 |
8.515 |
3.145 |
|
(e) Short-term
loans and advances |
6.878 |
5.819 |
3.914 |
|
(f) Other
current assets |
8.011 |
6.161 |
0.414 |
|
Total
Current Assets |
95.206 |
81.775 |
17.770 |
|
|
|
|
|
|
TOTAL |
228.824 |
215.162 |
115.045 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
217.680 |
150.080 |
68.613 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
192.278 |
117.412 |
63.781 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
25.403 |
32.668 |
4.832 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.844 |
4.216 |
0.775 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
17.559 |
28.452 |
4.057 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.878 |
10.537 |
3.263 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
0.681 |
17.915 |
0.794 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.130 |
3.585 |
0.143 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.551 |
14.330 |
0.651 |
|
|
|
|
|
|
|
|
|
Add |
Earlier year excess proposed dividend and dividend
distribution tax |
1.157 |
0.461 |
2.191 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to General Reserve |
1.708 |
14.791 |
2.842 |
|
|
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earning in
foreign currency |
45.503 |
64.816 |
58.071 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.87 |
22.67 |
1.23 |
|
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 flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.30 |
8.33 |
0.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.35 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.50 |
1.56 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.56 |
0.28 |
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 |
5.293 |
6.321 |
6.321 |
|
Reserves & Surplus |
25.494 |
45.219 |
46.928 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
30.787 |
51.540 |
53.249 |
|
|
|
|
|
|
long-term borrowings |
21.418 |
18.588 |
30.365 |
|
Short term borrowings |
9.414 |
61.564 |
102.799 |
|
Total borrowings |
30.832 |
80.152 |
133.164 |
|
Debt/Equity ratio |
1.001 |
1.555 |
2.501 |
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) |
|
Income |
68.613 |
150.080 |
217.680 |
|
|
|
118.734 |
45.043 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Income |
68.613 |
150.080 |
217.680 |
|
Profit |
0.651 |
14.330 |
0.551 |
|
|
0.95% |
9.55% |
0.25% |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS:
As you know that will appreciate that the management has successfully implemented the manufacturing unit of PET PREFORM, the calculation of the capacity is based on 300 working days and three shifts. Total installed capacity is 3000 tone. We have achieved the sales of PET PREFORM of Rs. 172.596 Million average production per month Rs. 14.383 Million. The other sales of the company Rs. 41.387 million. In coming year, order in hand is amounting to Rs. 75.000 Million. Turnover of the company is Rs. 21.398 Million which are increase Rs. 6.577 Million i.e. 44.38%.
However member will appreciate even installation of new manufacturing plant and increase in sales. The director is able to earn the profit before tax amounting Rs. 0.681 Million
NOTE:
The registered address of the company has been shifted from 212, Sakar
VB/H, Natraj Cinema off Ashram Road, ahmedaba – 380014, Gujarat, India to the
present address w.e.f 09.02.2012
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long Term
Borrowing |
|
|
|
Unsecured loan |
9.983 |
0.650 |
|
|
|
|
|
Total |
9.983 |
0.650 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10301744 |
22/12/2014 * |
160,200,000.00 |
CORPORATION BANK |
S.G. HIGHWAY BRANCH CORPORATE HOUSE, JUDGES BUNGLOW ROAD, AHMEDABAD - 380054, Gujarat, INDIA |
C45736808 |
* Date of charge modification
FIXED ASSETS
œ Air Conditioner
œ Bicycle
œ Fan
œ Plant and Machinery
œ Land
œ Laboratory Equipment
œ Printer
œ Laptop, Computer
œ Bike
œ Furniture
œ Refrigerator
œ Scanner Machine
œ Copier Machine
œ Cc TV Camera
œ Honda City
œ Office Iscon Elligance
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.66.11 |
|
|
1 |
Rs.100.51 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
|
45 |
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.