MIRA INFORM REPORT

 

 

Report No. :

343382

Report Date :

02.10.2015

 

IDENTIFICATION DETAILS

 

Name :

PELL TECH HEALTH CARE PRIVATE LIMITED

 

 

Registered Office :

Plot No.20-B, Tansa Farm Estate, Village Met, Bhiwandi-Wada Road, Wada-Thane, Thane - 421312, Maharashtra

Tel no. :

91-22-67525309

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

04.08.2003

 

 

Com. Reg. No.:

11-141586

 

 

Capital Investment / Paid-up Capital :

Rs. 30.000 Million

 

 

CIN No.:

[Company Identification No.]

U24230MH2003PTC141586

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMP19440B

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of pellets and granules

 

 

No. of Employees :

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (32)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 59000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2003 and it is a manufacturer and exporter of pellets and granules.

 

For the financial year ended 2014, company has reported 18.40% sales turnover growth as compared to previous sales turnover and it has maintained above average profitability margins at 1.24% during the year under review.

 

Due to profit from its operations company has able to recover some of its accumulated losses during FY 2014.

 

However, rating remain constrained on account of company’s moderate financial profile marked by negative reserves along with huge borrowings and leverage balance sheet profile of the company.

 

Trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of leverage financial base, the company can be considered for business dealing with some caution.

 

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

INFORMATION PARTED BY

 

Name :

Mr. Vicky Sangy

Designation :

Accounts Executive

Contact No.:

91-22-67525309

Date :

01.10.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No.20-B, Tansa Farm Estate, Village Met, Bhiwandi-Wada Road, Wada-Thane, Thane - 421312, Maharashtra, India 

Tel. No.:

91-22-28662980 / 65164880/ 67525303/ 09

Fax No.:

91-22-28625326

E-Mail :

utpal@pelltech-healthcare.com

expmkt@pelltechhealthcare.com  

Website :

www.pelltech-helathcare.com

Location:

Owned

Locality :

Industrial

 

 

Correspondence Office:

202, Sonmur Apartments, Above Axis Bank, S.V. Road, Malad (West), Mumbai – 400064, Maharashtra, India

Tel. No.:

91-22-6752354/ 67525301/ 6725302/ 28662980/ 28083674

Fax No.:

91-22-67525349/ 28055626

Email:

sales@peltechhealthcare.com

pelltech@vsnl.net

 

 

DIRECTORS

 

As on 26.09.2014

 

Name :

Mr. Dharmesh Sunderji Shah

Designation :

Director

Address :

201/A, Jade Apartment, 2nd floor, Shankar Lane, Kandivali (West), Mumbai - 400067, Maharashtra, India

Date of Birth/Age :

26.08.1966

Date of Appointment :

04.08.2003

DIN No.:

00162497

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24230MH2003PTC141586

PELL TECH HEALTH CARE PRIVATE LIMITED

Director

04/08/2003

04/08/2003

-

Active

NO

2

U24230MH2004PTC148920

ATOR HEALTH CARE PRIVATE LIMITED

Director

01/10/2004

01/10/2004

-

Active

NO

3

U29199MH2006PTC163258

ATOR ENGINEERS PRIVATE LIMITED

Director

24/07/2006

24/07/2006

-

Active

NO

 

 

Name :

Ms. Neepa Dharmesh Shah

Designation :

Director

Address :

201/A, Jade Apartment, 2nd floor, Shankar Lane, Kandivali (West), Mumbai - 400067, Maharashtra, India

Date of Birth/Age :

10.04.1966

Date of Appointment :

04.08.2003

DIN No.:

00162511

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24230MH2003PTC141586

PELL TECH HEALTH CARE PRIVATE LIMITED

Director

04/08/2003

04/08/2003

-

Active

NO

2

U24230MH2004PTC148920

ATOR HEALTH CARE PRIVATE LIMITED

Director

01/10/2004

01/10/2004

-

Active

NO

 

 

Name :

Mr. Rupal Prashant Shah

Designation :

Director

Address :

701, Shanaya Shlok Tower, Adarsh Dughdhalaya Lane, Off Marve Road, Malad (West), Mumbai ‐ 400064, Maharashtra, India 

Date of Birth/Age :

02.02.1967

Date of Appointment :

04.08.2003

DIN No.:

00162516

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24230MH2003PTC141586

PELL TECH HEALTH CARE PRIVATE LIMITED

Director

04/08/2003

04/08/2003

-

Active

NO

2

U24230MH2004PTC148920

ATOR HEALTH CARE PRIVATE LIMITED

Director

01/10/2004

01/10/2004

-

Active

NO

 

 

Name :

Ms. Amita Bhushan Karnik

Designation :

Director

Address :

C-3, 711, Swapna Purti Apartment, Pimpari Road, Off Gen, A. K. Vaidya Marg, Malad (East), Mumbai - 400097, Maharashtra, India

Date of Birth/Age :

06.09.1965

Date of Appointment :

04.08.2003

DIN No.:

00162528

 

 

Name :

Mr. Prashant Sunderji Shah

Designation :

Chairman

Address :

701, Shanaya Shlok Tower, Adarsh Dughdhalaya Lane, Off Marve Road, Malad (West), Mumbai ‐ 400064, Maharashtra, India 

Date of Birth/Age :

11.05.1965

Date of Appointment :

04.08.2003

DIN No.:

00177632

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24230MH2003PTC141586

PELL TECH HEALTH CARE PRIVATE LIMITED

Director

04/08/2003

04/08/2003

-

Active

NO

2

U24230MH2004PTC148920

ATOR HEALTH CARE PRIVATE LIMITED

Director

01/10/2004

01/10/2004

-

Active

NO

3

U29199MH2006PTC163258

ATOR ENGINEERS PRIVATE LIMITED

Director

24/07/2006

24/07/2006

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 26.09.2014

 

Names of Shareholders

No. of Shares

Percentage of Holding

Prashant Shah

750000

25.00

Dharmesh Sunderji Shah

750000

25.00

Rupal Prashant Shah

300000

10.00

Neepa Dharmesh Shah

300000

10.00

Sunderji M Shah

150000

5.00

Madhuben S. Shah

150000

5.00

Prashant Shah (HUF)

150000

5.00

Dharmesh Shah (HUF)

150000

5.00

Nirali S Shah

150000

5.00

Sunderji M Shah (HUF)

150000

5.00

Total

3000000

100.00

 

 

 

As on 26.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

85.00

Other top fifty shareholders

15.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of pellets and granules

 

 

Products/Services :

·         Pellets

·         Granules

·         Advertising Material Printing

·         Multi Color Printing Services

·         Hot discharge Printing Services

·         Plastic Bag Printing Services

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products:

Pellets and Granules

Counties :
  • Srilanka
  • Pakistan

 

 

Imports :

 

Products:

Raw Material

Counties :

New Zealand

 

 

Terms :

 

Selling :

Cash and credit

 

 

Purchasing :

Cash and credit

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

End Users

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

 

·         Axis Bank Limited

·         ICICI Bank Limited

 

Bank Name

The Shamrao Vithal Co-Operative Bank Limited

Branch

Malad Branch, 47/A, S M House, Lourdes Colony, Orlem, Malad (West), Mumbai – 400064, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash Credit = Rs. 17.500 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Term Loans – From Banks

(Secured by Land, Building, Plant and Machinery and Vehicle)

 

 

Zoroastrian Co-operative Bank – Term Loan

8.455

24.350

The Shamrao Vithal Co-Operative Bank TL/B/LOAN/470

14.409

7.699

Bajaj Finance Limited

2.293

0.000

ICICI Bank – Vehicle Loan

0.921

0.000

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

From Bank

(Secured by stock and debtors)

 

 

Zoroastrian Co-operative Bank Limited – CC

22.500

22.971

The Shamrao Vithal Co-Operative Bank – 102119940000040

16.735

8.606

Axis Bank – Temporary Overdraft

2.471

0.000

 

41.706

31.577

Total

67.784

63.626

 

Auditors :

 

Name :

S. Madanlal Mehta and Company

Chartered Accountants

Address :

Office No.26, 47 Dr. M. B. Velkar Street, Mumbai - 400002, Maharashtra, India

Tel. No.:

91-22-22202051 / 22077581

PAN No.:

AAAPM8940K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister concern :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 26.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,000,000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,000,000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

30.000

21.000

21.000

(b) Reserves & Surplus

(9.424)

(12.388)

(16.076)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

31.948

28.313

Total Shareholders’ Funds (1) + (2)

20.576

40.560

33.237

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

42.253

33.779

37.345

(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)

42.253

33.779

37.345

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

41.706

31.577

21.429

(b) Trade payables

33.223

41.231

34.847

(c) Other current liabilities

0.000

0.000

0.000

(d) Short-term provisions

4.722

3.374

1.937

Total Current Liabilities (4)

79.651

76.182

58.213

 

 

 

 

TOTAL

142.480

150.521

128.795

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

67.080

47.010

51.892

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

18.981

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.109

0.109

0.106

(c) Deferred tax assets (net)

6.921

7.606

8.514

(d)  Long-term Loan and Advances

0.905

0.862

0.748

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

75.015

74.568

61.260

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

24.236

31.772

34.885

(c) Trade receivables

36.124

35.516

25.518

(d) Cash and cash equivalents

0.320

1.732

3.143

(e) Short-term loans and advances

6.785

6.933

3.989

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

67.465

75.953

67.535

 

 

 

 

TOTAL

142.480

150.521

128.795

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

210.894

178.114

160.000

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

4.112

4.949

NA

 

 

 

 

 

Less

TAX

1.493

1.606

 NA

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2.619

3.343

3.681

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.87

1.59

1.75

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

250.000

 

 

Expected Sales (2015-2016) : Rs. 250.000 Million

 

The above information has been parted by Mr. Vicky Sangy

 

 

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

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

1.24

1.88

2.30

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.04

4.00

0.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.20

0.12

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.08

1.61

1.77

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.85

1.00

1.16

 

 

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

21.000

21.000

30.000

Reserves & Surplus

(16.076)

(12.388)

(9.424)

Share application money pending allotment fund

28.313

31.948

0.000

Net worth

33.237

40.560

20.576

 

 

 

 

long-term borrowings

37.345

33.779

42.253

Short term borrowings

21.429

31.577

41.706

Total borrowings

58.774

65.356

83.959

Debt/Equity ratio

1.768

1.611

4.080

 

 

 

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

160.000

178.114

210.894

 

 

11.321

18.404

 

 

 

 

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

160.000

178.114

21.089

Profit

3.681

3.343

2.619

 

2.30%

1.88%

1.24%

 

 

 

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

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 four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

CHANGE OF ADDRESS

 

The registered office of the company has been shifted from C/O Ator Pharmaceutical Daruwala Compound, S.V. Road, Malald (West), Mumbai – 400064, Maharashtra, India to the present address w.e.f. 01.04.2008.

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Loans from Directors

10.650

0.000

Loan from Others

5.525

1.730

 

 

 

Total

16.175

1.730

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10408484

08/02/2013

47,000,000.00

THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED

47/A, S M HOUSE, LOURDES COLONY, ORLEM ROAD, MALA 
D (WEST), MUMBAI, Maharashtra - 400064, INDIA

B69774859

2

10408627

08/02/2013

50,500,000.00

THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED

Malad Branch, 47/A, S M House, Lourdes Colony, Orlem, Malad (west), MUMBAI, Maharashtra - 400064, 
INDIA

B69776052

3

10283112

07/03/2011

1,100,000.00

THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED

BORIVALI BRANCH, 8/10, DATTANI TRADE CENTRE, CHA 
NDAVARKAR ROAD, BORIVALI (WEST), MUMBAI, Maharashtra - 400092, INDIA

B11388923

4

10260196

12/07/2011 *

72,766,763.99

THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED

BORIVALI BRANCH, 8/10, DATTANI TRADE CENTRE, CHA 
NDAVARKAR ROAD, BORIVALI (WEST),, MUMBAI, Maharashtra - 400092, INDIA

B18480376

5

10259197

12/07/2011 *

72,766,763.99

THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED

BORIVALI BRANCH, 8/10, DATTANI TRADE CENTRE, CHA 
NDAVARKAR ROAD, BORIVALI (WEST), MUMBAI, Maharashtra - 400092, INDIA

B18480178

6

10258639

02/11/2010

14,500,000.00

THE ZOROASTRIAN CO-OPERATIVE BANK LTD

8/10, DATTANI TRADE CENTRE, CHANDAWARKAR ROAD, B 
ORIVALI (WEST), MUMBAI, Maharashtra - 400092, INDIA

B01434620

 

 

 

FIXED ASSETS

 

·         Land at Wada

·         Factory Building

·         Factory Furniture

·         Plant and Machinery

·         Electrical Instructions

·         Computer

·         Office Equipment’s

·         Motor Vehicles 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 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.65.55

UK Pound

1

Rs.99.17

Euro

1

Rs.73.07

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY 

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

32

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.