MIRA INFORM REPORT

 

 

Report No. :

344937

Report Date :

10.10.2015

 

IDENTIFICATION DETAILS

 

Name :

NIFTY LABS PRIVATE LIMITED

 

 

Registered Office :

Flat No.203, House No.7-1-54/1, Satya Sai Residency, Dharam Karan Road, Ameerpet, Hyderabad – 500016, Telangana

Tel No.:

91-40-66464099/ 66464199

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.03.2005

 

 

Com. Reg. No.:

36-045637

 

 

Capital Investment / Paid-up Capital :

Rs. 50.809 Million

 

 

CIN No.:

[Company Identification No.]

U24239TG2005PTC045637

 

 

IEC No.:

0905000561

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCN0645D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing of active pharmaceutical ingredients (APIs) and intermediates.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

For the financial year ended 2014, the company has shown marginal decline in its scales of operations. However, it has achieved decent revenue along with profitability margin of 2.56%.

 

The company has comfortable financial base along with adequate networth position.

 

Trade relations are fair. Business is active. Payment 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

ICRA

Rating

Long term fund based limits: BB-

Rating Explanation

Inadequate credit quality and high credit risk.

Date

December 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 DENIED BY

 

Name :

Ms. Sushma

Designation :

Purchase Department

Contact No.:

91-40-66464099

 

 

LOCATIONS

 

Registered Office :

Flat No.203, House No.7-1-54/1, Satya Sai Residency, Dharam Karan Road, Ameerpet, Hyderabad – 500016, Telangana, India

Tel. No.:

91-40-66464099/ 66464199

Fax No.:

91-40-23740734

E-Mail :

info@niftylabs.com

bharat@niftylabs.com

durga@niftylabs.com

accounts@niftylabs.com

Website :

www.niftylabs.com

Location :

Owned

 

 

Factory:

Plot No. 64-A-, B, C and D, 65- A-, B, C and D, 66-A, B, IDA Kondapally, Ibrahimpatnam, Krishna District – 521228, Andhra Pradesh, India

 

 

DIRECTORS

 

As on 20.07.2013

 

Name :

Mr. Desireddy Kesava Reddy

Designation :

Managing director

Address :

Flat No. 203, Satya Sai Residency, 7-1-54/1, Dharam Karan Road, Ameerpet, Hyderabad - 500 016, Telangana, India

Date of Birth/Age :

02.06.1966

Date of Appointment :

16.03.2005

DIN No.:

00802977

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

U24239TG2005PTC045637

NIFTY LABS PRIVATE LIMITED

Managing director

16/03/2005

16/03/2005

-

Active

NO

2

U24232TG2007PTC056705

NIFTY PHARMA PRIVATE LIMITED

Managing director

15/02/2008

17/12/2007

-

Active

NO

3

U74999AP2008PTC058673

KONDAPALLY ENVIROTECH PRIVATE LIMITED

Managing director

03/08/2009

15/04/2008

-

Active

NO

 

 

Name :

Mr. Bhimireddy Krishna Reddy

Designation :

Whole-time director

Address :

Ramachandra Puram, Vissannapeta Mandal, Krishna District – 521214, Telangana, India

Date of Birth/Age :

06.06.1972

Date of Appointment :

16.03.2005

DIN No.:

00010247

 

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

U24239TG2005PTC045637

NIFTY LABS PRIVATE LIMITED

Whole-time director

16/03/2005

16/03/2005

-

Active

NO

2

U24232TG2007PTC056705

NIFTY PHARMA PRIVATE LIMITED

Director

17/12/2007

17/12/2007

-

Active

NO

 

 

Name :

Mr. Mandapati Kishore Reddy

Designation :

Whole-time director

Address :

Flat No. 303, Plot No. 478 and 479,Thrumala Hills, Hyderabad – 500072, Telangana, India

Date of Birth/Age :

05.04.1974

Date of Appointment :

16.03.2005

DIN No.:

00010259

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

U24239TG2005PTC045637

NIFTY LABS PRIVATE LIMITED

Whole-time director

16/03/2005

16/03/2005

-

Active

NO

2

U24232TG2007PTC056705

NIFTY PHARMA PRIVATE LIMITED

Director

17/12/2007

17/12/2007

-

Active

NO

 

 

Name :

Mr. Yerram Bharath Reddy

Designation :

Whole-time director

Address :

Flat No. 202, Sri Bhavani Enclave, Road No. 04, KPHB Colony, Hyderabad - 500 072, Telangana, India

Date of Birth/Age :

01.05.1974

Date of Appointment :

16.03.2005

DIN No.:

00010277

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

U24239TG2005PTC045637

NIFTY LABS PRIVATE LIMITED

Whole-time director

16/03/2005

16/03/2005

-

Active

NO

2

U24232TG2007PTC056705

NIFTY PHARMA PRIVATE LIMITED

Director

17/12/2007

17/12/2007

-

Active

NO

 

 

Name :

Mr. Thatiparthi Yellamanda Reddy

Designation :

Director

Address :

Plot No. 805, Vivekananda Nagar, Colony, Kukatpally, Hyderabad - 500 072, Telangana, India

Date of Birth/Age :

24.10.1965

Date of Appointment :

16.03.2005

DIN No.:

00010284

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

U24239TG2005PTC045637

NIFTY LABS PRIVATE LIMITED

Director

16/03/2005

16/03/2005

-

Active

NO

2

U24232TG2007PTC056705

NIFTY PHARMA PRIVATE LIMITED

Director

17/12/2007

17/12/2007

-

Active

NO

3

U29253AP2009PTC063283

LIKHITA PROCESS INDUSTRIES PRIVATE LIMITED

Director

07/04/2009

07/04/2009

-

Strike off

NO

4

U29248AP2010PTC069033

LIKHITA ENERGY SYSTEMS PRIVATE LIMITED

Director

21/06/2010

21/06/2010

-

Active

NO

 

 

MAJOR SHAREHOLDERS

 

AS ON 20.07.2013

 

Names Of Shareholders

 

No. Of Shares

Reddy Kesava Desireddy

 

1274300

Devi Uma Desireddy

 

74400

Reddy Neha Desireddy

 

74400

Dhamini Reddy Desireddy

 

74400

Yellamanda  Reddy Thatiparthi

 

458333

Prabhaker Reddy Thatiparthi

 

375000

Krishna Reddy Bheemireddy

 

396200

Anitha Bheemireddy

 

74400

Kishore Reddy Mandapati

 

342266

Mandapati Sushma

 

49600

Mandapati Malavika Reddy

 

24800

Yerram Bharath Reddy

 

254467

Yerram Lavanya

 

37200

Danda Venkata Rami Reddy

 

106400

Danda Padmavathi

 

18600

Mahadeva Vera Bharma Chary

 

73167

Mahadeva Padmavathi

 

31000

Bhimi Reddy Nagarami Reddy

 

64733

Bhimi Reddy Vijaya Lakshmi

 

18600

Gaddam Srinivasa Reddy

 

52917

Gaddam Sudha Rani

 

20000

Munnangi Kishore Reddy

 

61757

Munnangi Padmavathi

 

11160

Chilikuri Sridhar Reddy

 

62500

Gurla Surya Satya Narayana Reddy

 

40000

Miriyala Srinivasa Rao

 

19000

Miriyala Naga Lakshmi

 

6000

Jaggavarapu Venkateswara Reddy

 

29267

Jaggavarapu Veera Kumari

 

7440

Jaggavarapu Srilekha

 

4960

Bheemireddy Nihant Sai Reddy

 

29400

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 20.07.2013

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing of active pharmaceutical ingredients (APIs) and intermediates.

 

 

Products :

Product Description

Item Code No. (ITC Code)

Bulk  and Drugs Intermedies

2942

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

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 :

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 :

Information declined by the management.

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

Commercial Branch, Mid Corporate Group, Bank Street, Koti, Hyderabad – 500095, Telangana, 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)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Rupee Term loan From others

23.448

34.269

SHORT TERM BORROWING

 

 

Loans repayable on demand

247.469

169.076

Total

270.917

203.345

 

Auditors :

 

Name :

M V Narayanareddy and Company

Chartered Accountants

Address :

Flat No. 504, Vijayasree Apartments, Ameerpet, Hyderabad, Telangana, India

PAN N Income-tax PAN of auditor or auditor's firm :

AADFM4830F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :
  • Nifty Pharma Private Limited, India [U24232AP2007PTC056705]
  • Likhitha Fabtech Engineers

 

 

CAPITAL STRUCTURE

 

 

AS ON 20.07.2013

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs. 50.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

4166667

Equity Shares

Rs.10/- each

Rs. 41.667 Million

 

 

AS ON 31.03.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

5500000

Equity Shares

Rs.10/- each

Rs. 55.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

5080953

Equity Shares

Rs.10/- each

Rs. 50.809 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

50.809

41.667

40.000

(b) Reserves & Surplus

153.836

105.960

73.388

(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)

204.645

147.627

113.388

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

23.448

34.269

7.511

(b) Deferred tax liabilities (Net)

28.419

22.921

21.639

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

2.360

2.090

1.788

Total Non-current Liabilities (3)

54.227

59.280

30.938

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

247.469

169.076

152.661

(b) Trade payables

247.291

318.776

226.482

(c) Other current liabilities

50.704

49.440

44.732

(d) Short-term provisions

10.976

13.962

8.468

Total Current Liabilities (4)

556.440

551.254

432.343

 

 

 

 

TOTAL

815.312

758.161

576.669

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

232.950

181.156

164.389

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

22.664

7.105

2.517

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

8.000

8.000

4.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

6.935

4.900

5.608

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

270.549

201.161

176.514

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

245.155

228.507

146.990

(c) Trade receivables

250.364

279.351

225.697

(d) Cash and cash equivalents

20.775

21.125

7.349

(e) Short-term loans and advances

22.315

25.730

19.316

(f) Other current assets

6.154

2.287

0.803

Total Current Assets

544.763

557.000

400.155

 

 

 

 

TOTAL

815.312

758.161

576.669

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income (Gross)

975.759

1153.942

698.673

 

Other Income

 NA

 NA

 NA

 

TOTAL

 NA

 NA

 NA

 

 

 

 

 

EXPENSES

 NA

 NA

 NA

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION 

87.519

81.536

60.934

 

 

 

 

 

Less

FINANCIAL EXPENSES

35.095

28.213

26.820

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

52.424

53.323

34.114

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

14.058

10.805

9.382

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

38.366

42.518

24.732

 

 

 

 

 

Less

TAX

13.347

13.280

9.357

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

25.019

29.238

15.375

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

233.211

177.283

106.318

 

TOTAL EARNINGS

233.211

177.283

106.318

 

 

 

 

 

 

CIF VALUE

89.108

211.265

82.469

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.92

7.02

3.84

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

11.065

7.851

9.484

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operating activities

(12.857)

(7.544)

14.669

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/ Gross Income)

(%)

2.56

2.53

2.20

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)

8.97

7.07

8.72

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.89

5.69

4.34

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.19

0.29

0.22

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.38

1.43

1.50

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.98

1.01

0.93

 

 

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

40.000

41.667

50.809

Reserves & Surplus

73.388

105.960

153.836

Net worth

113.388

147.627

204.645

 

 

 

 

long-term borrowings

7.511

34.269

23.448

Short term borrowings

152.661

169.076

247.469

Current maturities of long-term debts

9.484

7.851

11.065

Total borrowings

169.656

211.196

281.982

Debt/Equity ratio

1.496

1.431

1.378

 

 

 

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)

Gross Income

698.673

1153.942

975.759

 

 

65.162

(15.441)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross Income

698.673

1153.942

975.759

Profit

15.375

29.238

25.019

 

2.20%

2.53%

2.56%

 

 

 

 

 

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)

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

Yes

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10559700

16/03/2015

50,000,000.00

STATE BANK OF TRAVANCORE

MCB HYDERABAD BRANCH, 1-8-304-307, KAMALA TOWERS, S. P. ROAD, SECUNDERABAD - 500003, TELANGANA, INDIA

C49334022

2

10467827

26/12/2013

373,300,000.00

STATE BANK OF INDIA (LEAD BANK)

COMMERCIAL BRANCH, MID CORPORATE GROUP, BANK STREET, KOTI, HYDERABAD - 500095, TELANGANA, INDIA

B92610799

3

10223893

14/06/2010

40,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, BANK STREET, KOTI, HYDERABAD - 500095, 
TELANGANA, INDIA

A87644969

4

10033816

26/12/2013 *

30,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, MID CORPORATE GROUP, BANK STREET, KOTI, HYDERABAD - 500095, TELANGANA, INDIA

B92611490

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments

 

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 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.64.78

UK Pound

1

Rs.99.54

Euro

1

Rs.73.08

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY 

1~10

4

--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

 

43

 

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.