MIRA INFORM REPORT
|
Report No. : |
350002 |
|
Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL POLYPLAST (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Thiru Complex' , 2nd FLOOR, 44, Pantheon Road, Egmore, Chennai – 600008, Tamilnadu |
|
Tel. No.: |
91-44-43404340 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.04.1992 |
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Com. Reg. No.: |
18-022490 |
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Capital
Investment / Paid-up Capital : |
Rs.112.635 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U25209TN1992PLC022490 |
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|
|
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IEC No.: |
0494004720 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEN02027E |
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PAN No.: [Permanent Account No.] |
AAACN1743Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacturing of specialty Preforms and value added plastic products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1170000 |
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|
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 the year 1992, having satisfactory track. Profit margin of the company has declined as compared to previous year. However, the company has adequate networth base marked by increase in
its reserves and there is favourable gap between trade receivables and
payables. Rating also takes into consideration company’s strong track record in
the plastic packaging segment. Trade relations are fair. Business is active. Payments are 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.
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 =
BB+ |
|
Rating Explanation |
Inadequate credit
quality and high credit risk. |
|
Date |
June 25, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating =
A4+ |
|
Rating Explanation |
Minimal degree of safety
and very high credit risk. |
|
Date |
June 25, 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 : |
Thiru Complex' , 2nd FLOOR, 44, Pantheon Road, Egmore, Chennai – 600008, Tamilnadu, India |
|
Tel. No.: |
91-44-43404340 |
|
Fax No.: |
91-44-28553391 |
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E-Mail : |
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Website : |
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Pet Preform
Manufacturing Locations |
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|
Plant 1 : |
Mannadipet Commune Panchayat, Puducherry – 605102, Union Territory, India |
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Plant 2 : |
Zilla Haridwar – 247667, Uttarakhand, India |
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Plant 3 : |
Silvassa, Dadra and Nagar Haveli – 396235, Union Territory, India |
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Industrial Molding
Manufacturing Locations |
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Plant 1 : |
Guindy, Chennai – 600032, Tamilnadu, India |
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Plant 2 : |
Mannadipet Commune Panchayat, Puducherry – 605102, Union Territory, India |
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Plant 3 : |
Irungattukottai, Taluka Sriperumbudur, Chennai – 602105, Tamilnadu, India |
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Plant 4 : |
Tehsil Nahan, District Sirmour – 173030, Himachal Pradesh, India |
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Plant 5 : |
Oragadam, Taluka Sriperumbudur, Chennai – 602105, Tamilnadu |
DIRECTORS
As on 30.09.2014
|
Name : |
Manju Kanwar Parakh |
|
Designation : |
Director |
|
Address : |
44/1, Maharaja Surya Salai, Venus Colony, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Birth/Age : |
12.11.1959 |
|
Date of Appointment : |
16.04.1992 |
|
DIN No.: |
01417349 |
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|
|
|
Name : |
Mr. Sudershan Parakh |
|
Designation : |
Whole-Time Director |
|
Address : |
44/1, Maharaja Surya Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Birth/Age : |
20.05.1955 |
|
Date of Appointment : |
16.04.1992 |
|
DIN No.: |
01161124 |
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PAN No.: |
AAIPP3564C |
|
|
|
|
Name : |
Mr. Alok Kumar Parakh |
|
Designation : |
Whole-Time Director |
|
Address : |
44/1, Mahraja Surya Salai, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Birth/Age : |
29.08.1976 |
|
Date of Appointment : |
16.06.1993 |
|
DIN No.: |
01417398 |
KEY EXECUTIVES
|
Name : |
Mr. Abishek Sridharan |
|
Designation : |
Secretary |
|
Address : |
F-26, Amudham Colony, South Boag Road, T.Nagar, Chennai - 600017, Tamilnadu, India |
|
Date of Birth/Age : |
22.12.1984 |
|
Date of Appointment : |
02.04.2014 |
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PAN No.: |
ALQPA1818H |
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|
|
|
Name : |
Mr. Parakh Kumar Arihant |
|
Designation : |
Manager |
|
Address : |
No.44/1, Maharaja Surya Road, Alwarpet, Chennai - 600018, Tamilnadu,
India |
|
Date of Birth/Age : |
03.09.1981 |
|
Date of Appointment : |
01.12.2009 |
|
PAN No.: |
AAIPP3569R |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bachhraj Parakh |
|
24157 |
|
Sudershan Parakh |
|
1051718 |
|
Manju Parakh |
|
12397 |
|
Sudhir K. Patel |
|
25 |
|
Bhawarlal Nahata |
|
25 |
|
Bachhraj Parakh (HUF) |
|
8575 |
|
Arihant Parakh |
|
14749 |
|
Alok Parakh |
|
7350 |
|
Sudershan Parakh - HUF |
|
7350 |
|
Total |
|
1126346 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
%20LIMITED%20-%20350002%2030-Nov-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of specialty Preforms and value added plastic products. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
C. A. Patel and Associates Chartered Accountants |
|
Address : |
12, Padmavathyar Road, Jeypore Colony, Chennai – 600086, Tamilnadu, India |
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PAN No.: |
AAFPB8078A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1126346 |
Equity Shares |
Rs.100/-
each |
Rs.112.635
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 |
112.635 |
112.635 |
112.635 |
|
(b) Reserves &
Surplus |
300.126 |
232.339 |
145.698 |
|
(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) |
412.761 |
344.974 |
258.333 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
304.841 |
409.943 |
491.909 |
|
(b) Deferred tax
liabilities (Net) |
116.275 |
99.775 |
74.940 |
|
(c) Other long term
liabilities |
243.142 |
104.975 |
52.121 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
664.258 |
614.693 |
618.970 |
|
|
|
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(4) Current Liabilities |
|
|
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|
(a) Short term borrowings |
263.936 |
216.141 |
159.728 |
|
(b) Trade payables |
115.311 |
121.549 |
42.204 |
|
(c) Other current liabilities |
238.382 |
271.134 |
177.229 |
|
(d) Short-term provisions |
38.381 |
42.522 |
29.724 |
|
Total Current Liabilities
(4) |
656.010 |
651.346 |
408.885 |
|
|
|
|
|
|
TOTAL |
1733.029 |
1611.013 |
1286.188 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1030.624 |
1041.583 |
776.841 |
|
(ii) Intangible Assets |
2.391 |
3.139 |
3.656 |
|
(iii) Capital
work-in-progress |
54.787 |
5.581 |
6.495 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
7.640 |
7.640 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.710 |
0.695 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.695 |
|
Total Non-Current Assets |
1097.152 |
1058.638 |
787.687 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
8.240 |
|
(b) Inventories |
65.753 |
44.601 |
51.057 |
|
(c) Trade receivables |
366.300 |
317.367 |
185.990 |
|
(d) Cash and cash
equivalents |
48.741 |
52.439 |
76.849 |
|
(e) Short-term loans and
advances |
151.926 |
133.941 |
175.082 |
|
(f) Other current assets |
3.157 |
4.027 |
1.283 |
|
Total Current Assets |
635.877 |
552.375 |
498.501 |
|
|
|
|
|
|
TOTAL |
1733.029 |
1611.013 |
1286.188 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1266.865 |
1273.951 |
850.884 |
|
|
Other Income |
15.850 |
82.650 |
12.448 |
|
|
TOTAL |
1282.715 |
1356.601 |
863.332 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
601.618 |
655.327 |
410.010 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.124 |
22.123 |
(20.977) |
|
|
Employees benefits
expense |
29.924 |
23.798 |
23.968 |
|
|
Other expenses |
351.125 |
345.699 |
214.283 |
|
|
TOTAL |
983.791 |
1046.947 |
627.284 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
298.924 |
309.654 |
236.048 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
77.579 |
73.587 |
63.121 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
221.345 |
236.067 |
172.927 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
101.096 |
88.673 |
65.560 |
|
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|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
120.249 |
147.394 |
107.367 |
|
|
|
|
|
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|
Less |
TAX |
41.704 |
54.266 |
33.228 |
|
|
|
|
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|
|
PROFIT/ (LOSS) AFTER TAX
|
78.545 |
93.128 |
74.139 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
12.046 |
7.224 |
0.000 |
|
|
|
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|
IMPORTS |
|
|
|
|
|
Raw Materials |
72.885 |
16.926 |
NA |
|
|
Spare Parts |
0.968 |
0.147 |
NA |
|
|
TOTAL IMPORTS |
73.853 |
17.073 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
69.73 |
82.68 |
65.82 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
177.376 |
163.400 |
119.226 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
269.912 |
416.873 |
205.201 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.20 |
7.31 |
8.71 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
23.60 |
24.31 |
27.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.20 |
9.22 |
8.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.43 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.81 |
2.29 |
2.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
0.85 |
1.22 |
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 |
112.635 |
112.635 |
112.635 |
|
Reserves & Surplus |
145.698 |
232.339 |
300.126 |
|
Net worth |
258.333 |
344.974 |
412.761 |
|
|
|
|
|
|
long-term borrowings |
491.909 |
409.943 |
304.841 |
|
Short term borrowings |
159.728 |
216.141 |
263.936 |
|
Current Maturities of
Long Term Debt |
119.226 |
163.400 |
177.376 |
|
Total borrowings |
770.863 |
789.484 |
746.153 |
|
Debt/Equity ratio |
2.984 |
2.289 |
1.808 |
%20LIMITED%20-%20350002%2030-Nov-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
850.884 |
1273.951 |
1266.865 |
|
|
|
49.721 |
(0.556) |
%20LIMITED%20-%20350002%2030-Nov-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
850.884 |
1273.951 |
1266.865 |
|
Profit |
74.139 |
93.128 |
78.545 |
|
|
8.71% |
7.31% |
6.20% |
%20LIMITED%20-%20350002%2030-Nov-2015_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
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 |
GENERAL INFORMATION
Subject is a public limited company domiciled in India, incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the manufacturing of specialty Preforms and value added plastic products. The Company caters to both domestic and international markets.
OPERATIONS
The company’s sales turnover was Rs.1447.568 Million in 2013-14 as compared to Rs.1474.751 Million in 2012-13. The company’s Operating profit was Rs. from Rs. 236.047 Million in 2011-12 to Rs.309.654 Million in 2012-13.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deposits |
10.013 |
17.676 |
|
Loans and advances from related
parties |
16.057 |
19.858 |
|
Total |
26.070 |
37.534 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10584772 |
08/08/2015 * |
60,000,000.00 |
IDBI BANK LIMITED |
SOUTH BOAG ROAD, T.NAGAR, CHENNAI - 600017, TAMILNADU, INDIA |
C63225213 |
|
2 |
10543117 |
16/10/2015 * |
252,502,000.00 |
DBS BANK LIMITED |
806 ANNA SALAI, CHENNAI - 600002, TAMILNADU, INDIA |
C68815042 |
|
3 |
10543112 |
16/10/2015 * |
47,500,000.00 |
DBS BANK LIMITED |
806 ANNA SALAI, CHENNAI - 600002, TAMILNADU, INDIA |
C68816529 |
|
4 |
10491347 |
02/04/2014 |
155,550,000.00 |
EXPORT DEVELOPMENT CANADA |
150, SLATER STREET, OTTAWA, - K1A1K3, CANADA |
C04065124 |
|
5 |
10428440 |
04/04/2013 |
3,164,000.00 |
KARUR VYSYA BANK |
NO.44, THIRU COMPLEX, PANTHEON ROAD, EGMORE, CHENNAI - 600008, TAMILNADU, INDIA |
B75993261 |
|
6 |
10461067 |
09/04/2012 |
65,000,000.00 |
MHT MOLD AND HOTRUNNER TECHNOLOGY AG |
DR.
RUBEN-RAUSING-STR.7, HOCHHEIM MAIN, - 65239, |
B79583126 |
|
7 |
10338289 |
09/05/2012 * |
79,687,500.00 |
EXPORT DEVELOPMENT CANADA |
150, SLATER STREET, OTTAWA, ONTARIO, - K1A1K3, CANADA |
B40650913 |
|
8 |
10333888 |
27/09/2012 * |
98,000,000.00 |
IDBI BANK LIMITED |
115, ANNA SALAI, SAIDAPET, CHENNAI - 600015, TAMILNADU, INDIA |
B60435781 |
|
9 |
10298705 |
07/07/2011 |
105,750,000.00 |
EXPORT DEVELOPMENT CANADA |
150, SLATER STREET, OTTAWA, ONTARIO, - K1A1K3, CANADA |
B17424144 |
* Date of charge modification
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.66.75 |
|
|
1 |
Rs.100.67 |
|
Euro |
1 |
Rs.70.87 |
INFORMATION DETAILS
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
44 |
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.