MIRA INFORM REPORT
|
Report No. : |
345661 |
|
Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADANI AGRI FRESH LIMITED |
|
|
|
|
Registered
Office : |
Adani House, Near |
|
Tel. No.: |
91-79-26565555 / 25555101 |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.12.2004 |
|
|
|
|
Com. Reg. No.: |
04-045143 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1025.710 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63022GJ2004PLC045143 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA04990G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA0413P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Trader and Importer of fruits and vegetable. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
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 |
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|
Comments : |
Subject is a subsidiary of “ADANI ENTERPRISES LIMITED”. It is an
established company having satisfactory track record. The company has taken huge external borrowing, which acts as
threatening to the liquidity position of the company. However, the company possesses satisfactory operational performance due
to which company has wiped out its accumulated losses during FY 2014. Rating takes into consideration its improved financial profile marked
by sound growth in net profit profile and favorable gap between trade
payables to its receivables. Rating also takes into consideration well experience management team
backed by financial flexibility given by its parent entity. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities= BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
24.03.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities= A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
24.03.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Sanjay Govindrao |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-79-26565555 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered Office / Headquarter 1 : |
Adani House, Near Mithakhali Circle, Navrangpura, Ahmedabad – 380009,
Gujarat, India |
|
Tel. No.: |
91-79-26565555 / 25555101 |
|
Fax No.: |
91-79-26565500 / 25555500 / 25555102 |
|
E-Mail : |
|
|
Websites : |
http://www.adanigroup.com |
|
|
|
|
Corporate Office / Headquarter 2 : |
Plot No. 83, Sector – 32 Institutional Area, Gurgaon – 122 001, |
|
Tel. No.: |
91-124-2555101 / 2555000 / 2555555 |
|
Fax No.: |
91-124-2555212 / 2555110 |
|
|
|
|
Administrative Office : |
Near Railway Crossing, 3rd Floor, Fortune House,
Navrangpura, Ahmedabad – 380 009, |
|
Tel. No.: |
91-79-25556673 |
|
Fax No.: |
91-79-25555621 |
|
|
|
|
Headquarter 3 : |
Post Box No. 1, Mundra (Kutch) 370421, |
|
Tel. No.: |
91-2838-289248 / 448 |
|
|
|
|
Shimla Office : |
Evergreen House, 1-New Road, Chotta Shimla, Shimla – 171
002, |
|
Tel. No.: |
91- 177-2624560 |
|
Fax No.: |
91-177-2623907 |
|
E-Mail: |
|
|
|
|
|
Sainj Site : |
Village: Sainj,
Tehsil-Theog, District:
Shimla, |
|
Tel. No.: |
91-1783-235241 |
|
E-Mail: |
|
|
|
|
|
|
Village:
Rewali (Bithal), Tehsil-Kumarsain, District: Shimla, |
|
Tel. No.: |
91-1782-221799 |
|
Fax No.: |
91-1782-221797 |
|
E-Mail: |
|
|
|
|
|
Rohru Site : |
Village: Mehndli,
Tehsil-Rohru, District:
Shimla, |
|
Tel. No.: |
91-1781-241474 |
|
E-Mail: |
|
|
|
|
|
Branch Office : |
Located at : · Kolkata · Mumbai ·
·
|
DIRECTORS
AS ON 05.08.2014
|
Name : |
Mr. Pranav Vinod Adani |
|
Designation : |
Managing Director |
|
Address : |
Paramshanti Bunglow, Survey No. 100/1, Near Shaswat Bunglow, Behind
Rajpath Club, Ahmedabad – 380059, Gujarat, India |
|
Date of Birth/Age : |
09.08.1978 |
|
Qualification : |
MBA from |
|
Date of Appointment : |
15.06.2010 |
|
DIN No.: |
00008457 |
|
|
|
|
Name : |
Mr. Atul Lekhendranath Chaturvedi |
|
Designation : |
Director |
|
Address : |
B/11 Shakti Enclave, Near Judges Bunglow Road, Vastrapur, Ahmedabad –
380015, Gujarat, India |
|
Date of
Birth/Age : |
06.10.1955 |
|
Date of
Appointment : |
14.12.2004 |
|
DIN No.: |
00175355 |
|
|
|
|
Name : |
Mr. A. Srinivasa Ramanujum |
|
Designation : |
Whole Time Director |
|
Address : |
A – 5/203, La Habitat, Near Ayana Complex, Off. S. G. Highway, Thaltej,
Ahmedabad – 380059, Gujarat, India |
|
Date of
Birth/Age : |
01.05.1958 |
|
Date of
Appointment : |
28.06.2013 |
|
DIN No.: |
06631451 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Govindrao |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS
AS ON 05.08.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Adani Enterprises Limited, |
45609940 |
|
Pranav Vinodbhai Adani (Nominee of Adani Enterprises Limited, |
10 |
|
Namrata P Adani (Nominee of Adani Enterprises Limited, |
10 |
|
Priti G Adani (Nominee of Adani Enterprises Limited, |
10 |
|
Shilin R. Adani (Nominee of Adani Enterprises Limited, |
10 |
|
Ranjan Adani (Nominee of Adani Enterprises Limited, |
10 |
|
Vinod Adani (Nominee of Adani Enterprises Limited, |
10 |
|
|
|
|
Total |
45610000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Adani Enterprises Limited, |
56961000 |
|
|
|
|
Total |
56961000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 05.08.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Fruits and Vegetable. |
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Products : |
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Brand Names : |
‘FARM-PIK’ |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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||||||||||||||||||||||
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Bankers : |
·
UCO Bank, SDA Complex, Kasumpati, Shimla –
171009, Himachal Pradesh, India ·
ICICI Bank Limited, Landmarkrace Cource Circle,
Alkapuri, Baroda – 390015, Gujarat, India |
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
New Delhi Stock exchange
Building, 3/1, Asaf Ali Road, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23279809 / 23263324 |
|
Fax No.: |
91-11-23264419 |
|
E-Mail : |
|
|
Pan No.: |
AABFS5418B |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Holding Company
: |
Adani Enterprises Limited, CIN No.: L51100GJ1993PLC019067 |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 05.08.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Million |
|
56961000 |
Preferences Shares |
Rs.10/- each |
Rs.569.610 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1069.610
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45610000 |
Equity Shares |
Rs.10/- each |
Rs.456.100
Million |
|
56961000 |
0.01% Non-Cumulative Optionally Convertible Preferences Shares |
Rs.10/- each |
Rs.569.610 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1025.710
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 |
1025.710 |
1025.710 |
1025.710 |
|
(b) Reserves & Surplus |
80.749 |
(21.389) |
(52.491) |
|
(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) |
1106.459 |
1004.321 |
973.219 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7146.316 |
0.000 |
1090.271 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.531 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.675 |
3.032 |
2.806 |
|
Total Non-current
Liabilities (3) |
7150.522 |
3.032 |
1093.077 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
3591.198 |
996.071 |
0.000 |
|
(b) Trade
payables |
106.239 |
128.529 |
69.878 |
|
(c) Other
current liabilities |
43.779 |
29.951 |
18.989 |
|
(d) Short-term
provisions |
2.670 |
0.000 |
4.067 |
|
Total Current
Liabilities (4) |
3743.886 |
1154.551 |
92.934 |
|
|
|
|
|
|
TOTAL |
12000.867 |
2161.904 |
2159.230 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1218.488 |
1276.770 |
1358.761 |
|
(ii)
Intangible Assets |
0.399 |
0.599 |
1.018 |
|
(iii)
Capital work-in-progress |
5.395 |
0.000 |
0.064 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
98.531 |
96.810 |
90.454 |
|
(c) Deferred tax assets (net) |
2.535 |
52.553 |
51.511 |
|
(d) Long-term Loan and Advances |
6762.217 |
52.707 |
15.093 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
8087.565 |
1479.439 |
1516.901 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
177.702 |
250.068 |
136.914 |
|
(c) Trade
receivables |
151.174 |
317.954 |
88.455 |
|
(d) Cash
and cash equivalents |
160.944 |
92.947 |
45.623 |
|
(e) Short-term
loans and advances |
3423.017 |
21.496 |
335.250 |
|
(f) Other
current assets |
0.465 |
0.000 |
36.087 |
|
Total
Current Assets |
3913.302 |
682.465 |
642.329 |
|
|
|
|
|
|
TOTAL |
12000.867 |
2161.904 |
2159.230 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2108.569 |
1631.808 |
1125.647 |
|
|
|
Other Income |
559.559 |
9.782 |
33.007 |
|
|
|
TOTAL (A) |
2668.128 |
1641.590 |
1158.654 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
812.093 |
|
|
|
Purchase of Stock-in-trade |
1315.465 |
1340.407 |
0.000 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
79.723 |
(110.151) |
(64.964) |
|
|
|
Employee Benefits Expenses |
51.753 |
41.817 |
41.773 |
|
|
|
Other Expenses |
391.896 |
219.059 |
79.56 |
|
|
|
TOTAL (B) |
1838.837 |
1491.132 |
868.462 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
829.291 |
150.458 |
290.192 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
584.588 |
31.693 |
5.455 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
244.703 |
118.765 |
284.737 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
89.297 |
88.334 |
88.611 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
155.406 |
30.431 |
196.126 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
53.210 |
(0.671) |
55.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
102.196 |
31.102 |
140.516 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.24 |
0.68 |
3.08 |
|
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 |
|
Net cash flow from (used in) operations |
485.317 |
152.548 |
202.127 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
4.85 |
1.91 |
12.48 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
39.33 |
9.22 |
25.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.31 |
1.51 |
9.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.03 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
9.70 |
0.99 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
0.59 |
6.91 |
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 |
1025.710 |
1025.710 |
1025.710 |
|
Reserves & Surplus |
(52.491) |
(21.389) |
80.749 |
|
Net
worth |
973.219 |
1004.321 |
1106.459 |
|
|
|
|
|
|
long-term borrowings |
1090.271 |
0.000 |
7146.316 |
|
Short term borrowings |
0.000 |
996.071 |
3591.198 |
|
Total
borrowings |
1090.271 |
996.071 |
10737.514 |
|
Debt/Equity
ratio |
1.120 |
0.992 |
9.704 |
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 |
1125.647 |
1631.808 |
2108.569 |
|
|
|
44.966 |
29.217 |
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
|
1125.647 |
1631.808 |
2108.569 |
|
Profit |
140.516 |
31.102 |
102.196 |
|
|
12.48% |
1.91% |
4.85% |
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 |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Term loans from
banks |
500.000 |
0.000 |
|
Loans and
advances from related parties |
6646.316 |
0.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans and
advances from related parties |
2977.852 |
596.071 |
|
|
|
|
|
Total |
10124.168 |
596.071 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10507115 |
19/06/2014 |
237,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA -
400013, INDIA |
C09927161 |
|
2 |
10384395 |
10/10/2012 |
600,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
B61322707 |
|
3 |
10112450 |
17/07/2013
* |
1,360,000,000.00 |
UCO
BANK |
SDA
COMPLEX, KASUMPATI, SHIMLA, HIMACHAL PRADESH |
B83300426 |
|
4 |
10091943 |
17/07/2013
* |
1,360,000,000.00 |
UCO
BANK |
SDA
COMPLEX, KASUMPTI BRANCH, SHIMLA, HIMACHAL PRADESH - 171009, INDIA |
B83296582 |
*Date of modification Charges
FIXED ASSETS:
·
Freehold Land
·
Building – Porta Cabin and Civil Work
·
D G Set
·
Material Handling Equipment
·
Plant and Machinery
·
Furniture and Fixture
·
Electric Installation
·
Office Equipments
·
Computers
·
Bicycle
·
Vehicles
·
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.64.97 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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.