MIRA INFORM REPORT

 

 

Report No. :

345070

Report Date :

14.10.2015

 

IDENTIFICATION DETAILS

 

Name :

KEMIN INDUSTRIES SOUTH ASIA PRIVATE LIMITED (w.e.f. 06.07.2007)

 

 

Formerly Known As :

KEMIN NUTRITIONAL TECHNOLOGIES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Plot K3, 11th Cross Street, SIPCOT Industrial Complex, Gummidipundi, Chennai – 601 201, Tamilnadu

Tel. No.:

91-44-42202800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

02.06.1998

 

 

Com. Reg. No.:

18-040600

 

 

Capital Investment / Paid-up Capital :

Rs.394.151 million

 

 

CIN No.:

[Company Identification No.]

U93090TN1998PTC040600

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHNK00824F

CHEK02295G

 

 

PAN No.:

[Permanent Account No.]

AABCK3316P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in development, manufacturing and marketing of nutritional products for companies in the food industry. 

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 1474800

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of Kemin Industries Inc., USA. It is an established company having satisfactory track.

 

For the financial year ended 2014, the company has healthy operational activity marked by decent sales turnover along with profitability margin of 5.26%.

 

The company has good financial base, comfortable capital structure along with favorable gap between trade payables and receivables.

 

Trade relations are fair. Business is active. Payments are reported to be usually correct.

 

In view of good support from holding company, subject can be considered normal 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

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 DENIED

 

Management Non-Cooperative (Tel No.: 91-44-42202800)

 

 

 

LOCATIONS

 

Registered Office :

Plot K3, 11th Cross Street, SIPCOT Industrial Complex, Gummidipundi, Chennai – 601 201, Tamilnadu, India

Tel. No.:

91-44-42202800/ 67910370

Fax No.:

91-44-42202810/ 27923403/ 67910370

E-Mail :

boopathiraj.s@kemin.com

Website :

http://www.kemin.com

Location :

Owned

 

 

Factory/ Regional Headquarters :

“The Trapezium”, Second Floor, No.39, Nelson Manickam Road, Chennai – 600029, Tamilnadu, India

Tel. No.:

91-44-42202800

Fax No.:

91-44-42202810

Location :

Owned

 

 

DIRECTORS

 

AS ON 01.10.2014

 

Name :

Mr. Kulangara Paul Philip

Designation :

Managing Director

Address :

2A Cambrae Hall, 72, P.V. Cherian Road, Egmore, Chennai – 600 008, Tamilnadu, India

Date of Birth/Age :

06.12.1956

Date of Appointment :

04.01.2010

DIN No.:

02911945

PAN No.:

ABTPK4794P

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

U93090TN1998PTC040600

KEMIN INDUSTRIES SOUTH ASIA PRIVATE LIMITED

Managing director

04/01/2010

04/01/2010

-

Active

NO

2

U55103KL2005PTC018886

FLORA RETIREMENT COMMUNITIES PRIVATE LIMITED

Director

30/09/2011

08/07/2011

-

Active

NO

 

 

Name :

Mr. Christopher Edward Nelson

Designation :

Director

Address :

2535, Deer Creek Trail, Des Moines, IA Lowa 50323 USA

Date of Birth/Age :

08.01.1954

Date of Appointment :

22.12.1998

DIN No.:

00944490

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

U93090TN1998PTC040600

KEMIN INDUSTRIES SOUTH ASIA PRIVATE LIMITED

Director

22/12/1998

22/12/1998

-

Active

NO

2

U01122KL1995PTC008966

KEMIN INDUSTRIES INDIA PRIVATE LIMITED

Director

22/12/1998

22/12/1998

-

Active

NO

 

 

Name :

Mr. Roland Wade Nelson

Designation :

Director

Address :

4105, Timberwood Drive, West Des Moines, Lowa 50323, USA

Date of Birth/Age :

28.02.1927

Date of Appointment :

25.01.1999

DIN No.:

00944563

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

U93090TN1998PTC040600

KEMIN INDUSTRIES SOUTH ASIA PRIVATE LIMITED

Director

25/01/1999

25/01/1999

-

Active

NO

2

U01122KL1995PTC008966

KEMIN INDUSTRIES INDIA PRIVATE LIMITED

Director

25/01/1999

25/01/1999

-

Active

NO

 

 

Name :

Mr. Sreejith Janardhanan

Designation :

Alternate Director

Address :

D/106-F, Sangeetha Colony, Ashok Pillar Road, K.K. Nagar, Chennai – 600 078, Tamilnadu, India

Date of Birth/Age :

31.03.1974

Date of Appointment :

31.08.2013

DIN No.:

06675641

PAN No.:

AOUPS0694G

 

 

KEY EXECUTIVES

 

Name :

Mr. J Sreejith

Designation :

Secretary

Address :

D/106-F, Sangeetha Colony, Ashok Pillar Road, K.K. Nagar, Chennai – 600 078, Tamilnadu, India

Date of Birth/Age :

31.03.1974

Date of Appointment :

01.08.2013

PAN No.:

AOUPS0694G

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 01.10.2014

 

 

Names of Shareholders

 

No. of Shares

Kemin Industries Inc., USA

39415050

Kemin Europa N.V Belgium, Belgium

10

Total

39415060

 

AS ON 01.10.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Foreign holdings [(Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others]

100.00

 

 

                 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in development, manufacturing and marketing of nutritional products for companies in the food industry. 

 

 

Products :

Item Code No. (ITC Code)

23099090

Product Description

Finished good Prevents in Mold growth in feed and feed Raw materials

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

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 :

Not Available

 

 

Bankers :

Banker Name

HDFC Bank Limited,

Branch Address

HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Rupee term loans from banks

(First Charge on all Moveable Plant and Machinery, both Present and Future)

8.776

26.329

Loans taken for vehicles

(Hypothecation of Vehicles)

2.918

4.784

SHORT TERM BORROWINGS

 

 

Rupee term loans from banks

(First charge on the current assets of the Company and second charge on fixed assets on existing plant and machinery and all moveable plant and machinery, both present and future)

13.168

0.000

Total

24.862

31.113

 

 

Auditors :

 

Name :

S.V. Ghatalia and Associates LLP

Chartered Accountants

Address :

Tidel Park, 6th and 7th Floor, A Block (Module 601-701-702) No.4, Rajiv Gandhi  Salai, Taramani, Chennai – 600 113, Tamilnadu, India

PAN No.:

AACFS6921Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Kemin Industries Inc., USA

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :
  • Kemin Agrifoods North America Inc., USA
  • Kemin Europa N.V Belgium, Belgium
  • Kemin Europa N.V., Belgium
  • Kemin Food Ingredients BVBA, Belgium
  • Kemin Health LLC, United States
  • Kemin Industries (Asia) Pte Limited, Singapore
  • Kemin Zhuhai, China
  • Kemin Cavriago SRL, Italy

 

 

CAPITAL STRUCTURE

 

AS ON 01.10.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50200000

Equity Shares

Rs.10/- each

Rs.502.000 million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

39415060

Equity Shares

Rs.10/- each

Rs.394.151 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

394.151

394.151

176.511

(b) Reserves & Surplus

122.003

36.590

28.670

(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)

516.154

430.741

205.181

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

124.381

153.489

179.924

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

2.200

(d) Long-term provisions

11.428

0.000

0.000

Total Non-current Liabilities (3)

135.809

153.489

182.124

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

88.812

68.400

165.082

(b) Trade payables

193.879

154.474

178.785

(c) Other current liabilities

150.021

116.254

115.203

(d) Short-term provisions

7.861

9.209

6.684

Total Current Liabilities (4)

440.573

348.337

465.754

 

 

 

 

TOTAL

1092.536

932.567

853.059

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

390.956

406.224

432.081

(ii) Intangible Assets

0.128

0.253

0.157

(iii) Capital work-in-progress

7.481

9.268

5.700

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.095

0.095

0.095

(c) Deferred tax assets (net)

41.585

0.000

0.000

(d)  Long-term Loan and Advances

7.077

25.350

24.849

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

447.322

441.190

462.882

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

182.102

200.785

144.622

(c) Trade receivables

333.029

257.404

219.659

(d) Cash and cash equivalents

102.734

16.658

9.765

(e) Short-term loans and advances

22.328

15.619

16.131

(f) Other current assets

5.021

0.911

0.000

Total Current Assets

645.214

491.377

390.177

 

 

 

 

TOTAL

1092.536

932.567

853.059

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations (Net)

1623.943

NA

NA

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX                                                                 

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

85.413

7.920

(92.241)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

290.367

136.098

NA

 

 

 

 

 

 

CIF VALUE OF IMPORTS

223.809

236.372

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

2.17

0.20

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

42.405

40.334

39.679

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

189.427

1.421

(23.261)

Net cash flow from operating activity

175.773

(1.270)

(25.884)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

5.26

 

NA

NA

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.50

0.61

1.87

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.46

1.41

0.84

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Share Capital

176.511

394.151

394.151

Reserves & Surplus

28.670

36.590

122.003

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

205.181

430.741

516.154

 

 

 

 

Long Term borrowings

179.924

153.489

124.381

Short Term borrowings

165.082

68.400

88.812

Current Maturities of Long-Term Debts

39.679

40.334

42.405

Total borrowings

387.411

262.223

252.872

Debt/Equity ratio

1.888

0.609

0.490

 

 

 

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 one year

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

No

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

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Foreign currency term loans from banks

112.687

122.376

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

75.644

68.400

Total

188.331

190.776

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10307498

03/08/2011

22,500,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA

B21099163

2

10307657

03/08/2011

50,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA

B21173810

3

10307649

03/08/2011

72,500,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA

B21171756

4

10243405

16/09/2010

80,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA

A96349857

5

10216426

15/03/2010

50,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA

A84699305

6

90287934

07/01/2013 *

232,500,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA

B66389115

7

90292813

07/11/2003 *

122,000.00

GLOBAL TRUST BANK LIMITED

MYULAPORE, CHENNAI, TAMILNADU, INDIA

-

 

 

FIXED ASSETS

 

Tangible Assets

·         Land

·         Buildings

·         Plant and Equipments

·         Furniture and Fixtures

·         Vehicles

·         Computer Equipments

·         Office Equipments

·         Leasehold Improvements

 

Intangible Assets

·         Computer Software

 

 

WEBSITE DETAILS:

 

PRESS RELEASES/ NEWS:

 

KEMIN TO LAUNCH PRODUCTS FOR AQUACULTURE FARMERS

 

March 24, 2015 

 

US firm Kemin, operating in India for over 15 years through a facility near Chennai, will expand beyond the poultry and dairy areas by unveiling products and services for aqua farming sector next month.

 

Announcing the foray, Kemin Industries South Asia Private Limited senior vice president Samraj Jeyachandran on Monday said that the company would be launching five products in April. A network of technical teams and laboratories, including a few satellite labs in Andhra Pradesh, is to be established to support the aqua farmers, he said, adding the services are to be offered free of cost. The satellite labs will be connected to the Chennai lab.

 

On the investments, the senior VP (animal nutrition and health) said (about $5-10 million) were planned over the next few years. Kemin’s investments in India, including the plant in Gummidipoondi catering to Sri Lanka, Pakistan and Bangladesh, are around $23 million. The company was also setting up a laboratory in Ambattur, Chennai.

 

The proposed products will help in production of better quality shrimps without residues such as antibiotics or heavy metals. Stating this, he pointed to the problems faced by exporters a couple of years ago when Japan found ethoxyquin (anti-oxidant) content in the shrimps beyond permissible limits. The market for products targeted at the aquaculture in India is around Rs.600 crore, but hardly penetrated, he said.

 

 

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.65.02

UK Pound

1

Rs.99.88

Euro

1

Rs.73.91

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

SUD

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

6

--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

 

46

 

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.