MIRA INFORM REPORT
|
Report No. : |
346654 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARJUNA NATURAL EXTRACTS LIMITED |
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|
|
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Registered
Office : |
Building No. VII/8, P.O. Box No. 126,
Bank Road, Aluva, Ernakulam – 683101, Kerala |
|
Tel. No.: |
91-484-4080400 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.08.1992 |
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Com. Reg. No.: |
09-006670 |
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Capital
Investment / Paid-up Capital : |
Rs.48.000 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U24239KL1992PLC006670 |
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|
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IEC No.: |
1093004452 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHNA01307F |
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PAN No.: [Permanent Account No.] |
AACCA8648K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of herbal extracts and fish oil. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 2290000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1992and it is a pharmaceuticals manufacturing
company. It products include omega 3 fatty acids, herbal extracts, essential
oils and dietary supplements. For the financial year ended 2014, company has reported 17.51% sales
turnover growth as compared to previous sales turnover and it has maintained
decent profitability margins at 17.35% during the year under a review. Rating reflects company’s established market position in the
nutraceutical segment, its healthy operating efficiencies and robust
financial risk profile marked by a comfortable capital structure and debt
protection metrics. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal
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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
16.04.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
16.04.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Joshy |
|
Designation : |
Accountant |
|
Contact No.: |
91-484-4080400 |
|
Date : |
23.10.2015 |
LOCATIONS
|
Registered Office : |
Building No. VII/8, P.O. Box No. 126,
Bank Road, Aluva, Ernakulam – 683101, Kerala |
|
Tel. No.: |
91-484-4080400 |
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Fax No.: |
91-484-2622612 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality: |
Commercial |
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Factory : |
Industrial Development Area, Binanipuram, Edayar - 683502, Kerala,
India |
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Location : |
Owned |
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Locality: |
Industrial |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Mr. Kunjachan Puthussery Joseph |
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Designation : |
Managing Director |
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Address : |
Puthussery House, Thottakkattukara, Alwaye, Ernakulam – 683108,
Kerala, India |
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Date of Birth/Age : |
30.09.1952 |
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Date of Appointment : |
01.10.2014 |
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Voter ID No.: |
KL/11/076/006333 |
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PAN No.: |
ACQPJ2912A |
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DIN No.: |
00513385 |
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Other Directorship:
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Name : |
Benny Antony |
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Designation : |
Managing Director |
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Address : |
Parekkattl House, Kiddngoor P. O, Anganaly, Ernakulam – 683572, Kerala,
India |
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Date of Birth/Age : |
15.05.1965 |
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Date of Appointment : |
02.10.2014 |
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Voter ID No.: |
KL/10/068/219053 |
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PAN No.: |
AEZPA5562Q |
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DIN No.: |
00513405 |
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Other Directorship:
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Name : |
Paul Puthussery Joseph |
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Designation : |
Whole-Time Director |
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Address : |
Puthussery House, Madathil Land, Alwaye, Ernakulam – 683108, Kerala, India |
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Date of Birth/Age : |
16.04.1951 |
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Date of Appointment : |
01.10.2014 |
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Voter ID No.: |
KL/11/076/021312 |
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PAN No.: |
ACTPJ7193E |
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DIN No.: |
00513400 |
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Other Directorship:
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Name : |
Jomy Jose |
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Designation : |
Whole-Time Director |
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Address : |
246/IV, Moolan House, Mookkannur, Angamaly – 683577, Kerala,
India |
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Date of Birth/Age : |
14.05.1972 |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
ACQPJ0230R |
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DIN No.: |
00513411 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Joshy |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 25.09.2014
Note: SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
3.20 |
|
Bodies corporate |
82.68 |
|
Directors or relatives of Directors |
12.04 |
|
Other top fifty shareholders |
2.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of herbal extracts and fish oil. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L\C and Cheque |
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Purchasing : |
L\C and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and End Users
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Financial Institute: |
Biotechnology Industry Research Assistance Council, MTNL Building, 1st Floor, 9 CGO Complex, Lodi Road, Delhi - 110003, India |
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|
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Auditors : |
|
|
Name : |
Balan and Company Chartered Accountants |
|
Address : |
Bank Road, Aluva – 683101, Kerala, India |
|
Tel. No.: |
91-484-2625371/ 2625066 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFB8966C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company
: |
Liv Long Nutraceuticals Limited, India [U15497KL2001PLC014771] |
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Associate Company : |
Arjuna Research Laboratories Limited, India [U73100KL2009PLC024764] |
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|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
Herbal Supplements Private Limited, India [U24239KL1997PTC011521] |
CAPITAL STRUCTURE
AS ON 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs.48.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs.48.000 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 |
48.000 |
48.000 |
48.000 |
|
(b) Reserves & Surplus |
754.633 |
574.520 |
406.155 |
|
(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) |
802.633 |
622.520 |
454.155 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
51.101 |
49.262 |
47.409 |
|
(b) Deferred tax liabilities (Net) |
24.304 |
21.703 |
9.073 |
|
(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) |
75.405 |
70.965 |
56.482 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
68.504 |
96.272 |
101.019 |
|
(b) Trade payables |
51.387 |
56.180 |
32.527 |
|
(c) Other
current liabilities |
10.688 |
27.558 |
26.933 |
|
(d) Short-term
provisions |
48.429 |
26.610 |
36.127 |
|
Total Current
Liabilities (4) |
179.008 |
206.620 |
196.606 |
|
|
|
|
|
|
TOTAL |
1057.046 |
900.105 |
707.243 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
340.040 |
353.260 |
234.479 |
|
(ii)
Intangible Assets |
0.327 |
0.491 |
0.655 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
73.235 |
|
(iv)
Intangible assets under development |
29.512 |
24.297 |
0.000 |
|
(b) Non-current Investments |
6.080 |
6.080 |
6.080 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.507 |
2.470 |
2.500 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
384.466 |
386.598 |
316.949 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
70.000 |
0.000 |
0.000 |
|
(b)
Inventories |
190.346 |
180.294 |
120.787 |
|
(c) Trade
receivables |
295.845 |
250.651 |
145.600 |
|
(d) Cash
and cash equivalents |
91.866 |
52.275 |
101.084 |
|
(e)
Short-term loans and advances |
23.599 |
27.680 |
21.566 |
|
(f) Other
current assets |
0.924 |
2.607 |
1.257 |
|
Total
Current Assets |
672.580 |
513.507 |
390.294 |
|
|
|
|
|
|
TOTAL |
1057.046 |
900.105 |
707.243 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1,151.393 |
967.227 |
769.497 |
|
|
|
|
Other Income |
30.303 |
38.147 |
32.941 |
|
|
|
|
TOTAL (A) |
1,181.696 |
1,005.374 |
802.438 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
553.884 |
501.885 |
428.989 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(24.782) |
(50.814) |
(31.324) |
|
|
|
|
Employee Benefits Expenses |
46.638 |
39.204 |
32.211 |
|
|
|
|
Other Expenses |
245.657 |
195.913 |
142.355 |
|
|
|
|
TOTAL (B) |
821.397 |
686.188 |
572.231 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
360.299 |
319.186 |
230.207 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
16.824 |
17.797 |
11.569 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
343.475 |
301.389 |
218.638 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
57.606 |
38.018 |
33.523 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
285.869 |
263.371 |
185.115 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
86.099 |
75.481 |
58.944 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
199.770 |
187.890 |
126.171 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
884.712 |
700.946 |
508.616 |
|
|
|
TOTAL EARNINGS |
884.712 |
700.946 |
508.616 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Material |
NA |
12.540 |
10.740 |
|
|
|
|
Packing Materials |
NA |
0.000 |
0.114 |
|
|
|
|
Solvents & Chemicals |
NA |
7.552 |
4.400 |
|
|
|
|
Capital Goods |
NA |
29.829 |
33.062 |
|
|
|
TOTAL IMPORTS |
NA |
49.921 |
48.316 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
41.62 |
39.14 |
26.29 |
||
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1600.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs.2000.000 Million
The above information has been parted by Mr. Joshy (Accountant).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
3.864 |
18.264 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
289.909 |
207.788 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
17.35 |
19.43 |
16.40 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
31.29 |
33.00 |
29.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.99 |
30.28 |
29.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.42 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15 |
0.26 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.76 |
2.49 |
1.99 |
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 |
48.000 |
48.000 |
48.000 |
|
Reserves & Surplus |
406.155 |
574.520 |
754.633 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
454.155 |
622.520 |
802.633 |
|
|
|
|
|
|
Long Term borrowings |
47.409 |
49.262 |
51.101 |
|
Short Term borrowings |
101.019 |
96.272 |
68.504 |
|
Total
borrowings |
148.428 |
145.534 |
119.605 |
|
Debt/Equity
ratio |
0.327 |
0.234 |
0.149 |
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 |
769.497 |
967.227 |
1,151.393 |
|
|
|
25.696 |
19.041 |
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
|
769.497 |
967.227 |
1,151.393 |
|
Profit |
126.171 |
187.890 |
199.770 |
|
|
16.40% |
19.43% |
17.35% |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
Subject is Indias leading company specialized in scientific methods of identification, separation and manufacturing of plant based active compounds and Omega 3 fatty acids from marine and vegetable source. Subject also focus on pharmacological evaluation of its products by design, monitoring and publishing of clinical studies for various applications in the Dietary Supplement, pharmaceutical, and cosmetics industries.
Subject was incorporated in 1992, determined to deliver a novel product line and immense value addition to its end users. Beginning with essential oil of mustard oil (Natural) as its first product, the company forayed into the global market gaining worldwide acceptance to its niche offering. Subject later drew its focus on nutraceutical sector, a segment which was in its nascent stage and introduced a series of innovative herbal extracts backed by the well-executed research and methodology.
The state of the art laboratory was conferred approval for in-house research by the Ministry of Science &Technology in 2001. The company gained its foothold with the successful extraction of Omega 3 fatty acid thereby winning a National Award for successful commercialization of an indigenous technology based product. The grand success of BCM-95 and 11 international patents already awarded to Subject is a proof of its innovating technology in the manufacturing of plant extracts and its constant effort in maximizing the pharmacological benefits of the product. With four manufacturing facilities in India, subject is the first company in the world to produce turmeric extract powered entirely by solar energy.
PERFORMANCE
ANALYSIS
During the period, the sales turnover of the Company has increased from Rs.967.300 Million to Rs.1151.400 Million and profit before tax of Rs.263.400 Million to Rs.285.700 Million.
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10589835 |
03/09/2015 |
150,000,000.00 |
STANDARD CHARTERED BANK |
19, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA |
C63621981 |
|
2 |
10406532 |
29/01/2013 |
20,000,000.00 |
THE FEDERAL BANK LIMITED |
ALUVA JUNCTION BRANCH, FEDERAL HEIGHTS, BYE PASS |
B69006799 |
|
3 |
10340998 |
06/04/2015 * |
27,277,000.00 |
BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL |
MTNL BUILDING, 1ST FLOOR,, 9 CGO COMPLEX, LODI ROAD, DELHI - 110003, INDIA |
C51969236 |
|
4 |
10290018 |
12/09/2014 * |
31,800,000.00 |
STATE BANK OF TRAVANCORE |
CATHOLIC CENTER, RAILWAY STATION ROAD, ALUVA, KER |
C25948746 |
|
5 |
90023820 |
12/09/2014 * |
138,000,000.00 |
STATE BANK OF TRAVANCORE |
CATHOLIC CENTER, RAILWAY STATION ROAD, ALUVA, KERALA - 683101, INDIA |
C25952953 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Guarantees |
10.179 |
7.051 |
|
Other money for which company is contingently liable |
10.474 |
19.939 |
FIXED ASSETS
Tangible assets
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 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.64.96 |
|
UK Pound |
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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.