MIRA INFORM REPORT
|
Report No. : |
343388 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MACRO POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
165, Maha Gujarat Industrial Estate, Sarkhej-Bavla Road, P.O. Moraiya,
Taluka Sanand, Ahmedabad – 382 213, Gujarat |
|
Tel No.: |
91-2717-251091 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.12.1994 |
|
|
|
|
Com. Reg. No.: |
04-024006 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.9.538 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1994PTC024006 |
|
|
|
|
IEC No.: |
0896006433 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM00005F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM0462C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Resins Allied Products. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 620000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was started by current chairman Mr. Shirish Parikh in 1962 and
was converted to a private limited company under the name Macro Polymers Private
Limited in 1995. The manufacturing facilities are located in Gujarat at Odhav
and Moraiya. It has satisfactory track record. The company possesses a decent profile marked by decent networth base
along with fair liquidity and profitability. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. In view of long and established presence in the synthetic resin
industry, 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 |
ICRA |
|
Rating |
Long term fund base limits: BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
August 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
short term non fund base limits: A3 |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
August 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.
INFORMATION PARTED BY
|
Name : |
Mr. Hardik Lathiya |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9228010801 |
|
Date : |
01.10.2015 |
LOCATIONS
|
Registered Office : |
165, Maha Gujarat Industrial Estate, Sarkhej-Bavla Road, P.O. Moraiya,
Taluka Sanand, Ahmedabad – 382 213, Gujarat, India |
|
Tel. No.: |
91-2717-251091/92 |
|
Mobile No.: |
91-9228010801 (Mr. Nitin Modi) |
|
Fax No.: |
91-2717-251092 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Factory: |
Located at
|
DIRECTORS
AS ON 25.06.2014
|
Name : |
Mr. Shirish Manidhara Parikh |
|
Designation : |
Chairman |
|
Address : |
9, Goldan Tulip, B/H Shreyas School, Ambawadi, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
16.11.1934 |
|
Date of Appointment : |
29.12.1994 |
|
PAN No.: |
ACOPP7276M |
|
DIN No.: |
00608055 |
|
|
|
|
Name : |
Mr. Mayank Shirish Parikh |
|
Designation : |
Director |
|
Address : |
9, Goldan Tulip, B/H Shreyas School, Ambawadi, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
13.12.1970 |
|
Date of Appointment : |
29.12.1994 |
|
PAN No.: |
ACOPP7275J |
|
DIN No.: |
00608042 |
KEY EXECUTIVES
|
Name : |
Mr. Hardik Lathiya |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.06.2014
|
Names of Shareholders |
No. of Shares |
|
Shirish M. Parikh Jointly with Radhika S. Parikh Jointly with Mayank S. Parikh |
209000 |
|
Mayank S. Parikh Jointly with Shirish M. Parikh Jointly with Radhika S. Parikh |
209000 |
|
Shrijuka Parikh Jointly with Jayshree N. Parikh Jointly with Nikunj R. Parikh |
38000 |
|
Radhika S. Parikh Jointly with Shirish M. Parikh Jointly with Mayank S. Parikh |
114000 |
|
Indira J. Parikh Jointly with Sushrut J. Parikh |
22800 |
|
Manidhar P. Parikh HUF |
26600 |
|
Shruti R. Bhagat Jointly with Rajesh P. Bhagat |
38000 |
|
Mayank S. Parikh HUF |
170500 |
|
Jayesh H. Joshi Jointly with Bharti J. Joshi |
15200 |
|
Falguni Yogesh Patel Jointly with Yogesh Narendra Patel |
500 |
|
Gita Hariprasad Dalal Jointly with Hariprasad Trikamlal Dalal |
11400 |
|
Shirish M Parikh HUF |
19000 |
|
Ushadevi Verma |
3800 |
|
Darshan B. Sheth |
76000 |
|
Total |
953800 |
As on 25.06.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
88.79 |
|
Other top fifty shareholders |
11.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Resins Allied Products. |
|
|
|
|
Products : |
· Acrylic Resins · Speciality / Modified Alkyd Resins · Butylated MF Resin · Alkyd Resins · Maleic Modified Rosin Ester · Epoxy Resin · Polyamide Hardner · Ketone Resin · Phenolic Resin · Polyester Resin |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Resins Allied Products |
|
Countries : |
·
Dubai ·
Turkey ·
Africa ·
Kenya |
|
|
|
|
Imports : |
|
|
Products : |
Resins Allied Products |
|
Countries : |
·
Sweden ·
Singapore ·
South Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Credit |
|
|
|
|
Purchasing : |
Cheque and Credit |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMS
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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|||||||||||||||||||||||||||
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Auditors : |
|
|
Name : |
Vijay Shah and Company Chartered Accountants |
|
Address : |
201, Samruddhi, Opposite Old High Court, Ahmedbabd – 380014, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFV6045L |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 25.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
953800 |
Equity Shares |
Rs.10/- each |
Rs.9.538 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 |
9.538 |
9.538 |
9.538 |
|
(b) Reserves & Surplus |
209.049 |
146.082 |
125.402 |
|
(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) |
218.587 |
155.620 |
134.940 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
111.970 |
88.131 |
50.126 |
|
(b) Deferred tax liabilities (Net) |
2.521 |
0.440 |
2.770 |
|
(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) |
114.491 |
88.571 |
52.896 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
164.127 |
177.283 |
124.334 |
|
(b) Trade
payables |
175.853 |
162.689 |
121.535 |
|
(c) Other
current liabilities |
22.995 |
15.630 |
16.289 |
|
(d) Short-term
provisions |
22.502 |
2.790 |
7.847 |
|
Total Current
Liabilities (4) |
385.477 |
358.392 |
270.005 |
|
|
|
|
|
|
TOTAL |
718.555 |
602.583 |
457.841 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
226.055 |
114.520 |
102.745 |
|
(ii)
Intangible Assets |
0.052 |
0.087 |
0.138 |
|
(iii)
Capital work-in-progress |
0.000 |
30.580 |
0.915 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.817 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
47.856 |
52.293 |
50.020 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
274.780 |
197.480 |
153.818 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.002 |
0.121 |
0.000 |
|
(b)
Inventories |
140.783 |
92.392 |
71.241 |
|
(c) Trade
receivables |
251.244 |
260.110 |
201.480 |
|
(d) Cash
and cash equivalents |
19.498 |
16.755 |
16.225 |
|
(e)
Short-term loans and advances |
32.248 |
35.725 |
15.077 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
443.775 |
405.103 |
304.023 |
|
|
|
|
|
|
TOTAL |
718.555 |
602.583 |
457.841 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
880.482 |
|
|
|
Other Income |
|
|
26.432 |
|
|
|
TOTAL (A) |
1421.975 |
1242.971 |
906.914 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1284.352 |
1167.501 |
832.124 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
137.623 |
75.470 |
74.790 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.307 |
17.204 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
121.316 |
58.266 |
74.790 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.498 |
25.378 |
25.766 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
98.818 |
32.888 |
49.024 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.309 |
9.419 |
15.641 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
68.509 |
23.469 |
33.383 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
569.127 |
529.197 |
315.088 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
536.708 |
345.764 |
211.874 |
|
|
|
Capital Goods |
0.589 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
537.297 |
345.764 |
211.874 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
71.83 |
24.55 |
35.00 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1370.000 |
Expected Sales (2015-2016) : Rs.160.000 Million
The above information has been parted by Mr. Hardik Lathiya
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
135.144 |
60.646 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA
|
NA |
3.79 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA
|
NA |
8.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.77 |
5.75 |
10.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.21 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.26 |
1.71 |
1.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.13 |
1.13 |
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 |
9.538 |
9.538 |
9.538 |
|
Reserves & Surplus |
125.402 |
146.082 |
209.049 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
134.940 |
155.620 |
218.587 |
|
|
|
|
|
|
long-term borrowings |
50.126 |
88.131 |
111.970 |
|
Short term borrowings |
124.334 |
177.283 |
164.127 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
174.460 |
265.414 |
276.097 |
|
Debt/Equity ratio |
1.293 |
1.706 |
1.263 |
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) |
|
Total Income |
906.914 |
1242.971 |
1421.975 |
|
|
|
37.055 |
14.401 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
906.914 |
1242.971 |
1421.975 |
|
Profit |
59.815 |
23.469 |
68.509 |
|
|
6.60% |
1.89% |
4.82% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last FOUR years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CHANGE OF ADDRESS
The registered address of the company has been shifted from 165, Gujarat
Vehpari Mahamandalsahakari Audyogic Vasahat Limited, Odhav, Ahmedabad, Gujarat,
India to the present address w.e.f. 07.12.2010.
OPERATIONS
During the year the Company's total income was Rs.1421.975 Million as compared to last year's of Rs. 1242.971 Million, which shows jump of 14.40% over last year. Net profit after Tax stood at Rs. 68.509 Million as compared to last year Rs.23.469 Million, which is higher by almost 192%. Higher in Net profits is mainly due to lower depreciation and interest cost. Looking at the promoter's experience in this line of business, the Directors are expecting better results in coming years, as the new manufacturing facilities are in operation and impact of this will be reflected in the current financial year.
The Company has started its Unit 3 Factory situated at 21 and 22 New Ahmedabad Ind. Estate, Behind Cadila R and D Centre, Sarkhej Bavla Road, P.O. Moraiya, Tal. Sanand Dist. Ahmedabad in the month of March, 2014 and expanded its manufacturing capacity.
FUTURE PROSPECTS
The Directors are confident of achieving good turnover and present good result at the next annual general meeting due to higher capacity of production and expansion of business by starting new manufacturing facilities at Sanand and Moraiya.
FINANCE
The Company is availing financial facilities to the extent of Rs. 440.900 Million by way of Term Loan and working capital facilities from the State Bank of India (SBI). Further the Company is also availing Term Loan facility SBI, to meet Capital expenditure incurred by the Company for the enhanced activities.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10562745 |
25/03/2015 |
315,000,000.00 |
STATE BANK OF INDIA |
BAPUNAGAR INDUSTRIAL ESTATE BRANCH,, BAPUNAGAR,, |
C50630904 |
|
2 |
10557497 |
18/03/2015 |
2,160,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDR |
C47959994 |
|
3 |
10358834 |
05/03/2013 * |
440,900,000.00 |
STATE BANK OF INDIA |
BAPUNAGAR INDUSTRIAL ESTATE BRANCH,, BAPUNAGAR,, |
B71895965 |
|
4 |
10348552 |
25/03/2015 * |
283,200,000.00 |
STATE BANK OF INDIA |
BAPUNAGAR INDUSTRIAL ESTATE BRANCH,, BAPUNAGAR,, |
C50632405 |
|
5 |
90100479 |
05/08/2011 * |
166,100,000.00 |
STATE BANK OF INDIA |
BAPUNAGAR INDUSTRIAL ESTATE BRANCH,, BAPUNAGAR,, |
B19199918 |
|
6 |
90101678 |
08/07/1996 |
1,000,000.00 |
STATE BANK OF INDIA |
BAPUNAGAR INDUSTRIAL ESTATE BRANCH, AHMEDABAD, GUJ |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and Advances from Related Parties (Unsecured Loan from Member) |
0.203 |
0.192 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and
advances |
0.000 |
2.991 |
|
Total |
0.203 |
3.183 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.