MIRA INFORM REPORT
|
Report No. : |
346812 |
|
Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN PRODUCTS PRIVATE LIMITED (w.e.f. 13.03.2015) |
|
|
|
|
Formerly Known
As : |
INDIAN PRODUCTS LIMITED |
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Registered
Office : |
604A, Queen's Corner, No.3, Queen's Road, Bangalore –
560001, Karnataka |
|
Tel. No.: |
91-80-30705735 |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.05.1980 |
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Com. Reg. No.: |
08-043348 |
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Capital
Investment / Paid-up Capital : |
Rs.45.000 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U01132KA1980PTC043348 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Processing, Manufacturing and selling of Agricultural Products such as tea and black pepper and other spices such as ginger, pepper, turmeric, and chillies etc. |
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No. of Employees
: |
Information declined by the management
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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 |
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Maximum Credit Limit : |
USD 1700000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1980, engaged in Processing, Manufacturing and selling of Agricultural Products such as tea and black pepper and other spices such as ginger, pepper, turmeric, and chillies etc. It is a part of Jayanti Group, founded by Mr. Jayantilal Shah during the year 1940. It is a closely held group with presence in spice, tea and coffee processing and export and enjoys an established presence in the European and US countries. As per financial of the year 2014, company possesses below average operational performance with low profit margins. However, rating takes into consideration company's acceptable financial risk profile supported by adequate net worth base and low debt balance sheet profile of the company. Further, rating also considers company's long track record of business operations, its diversified product portfolio, rich experience of the promoters and established customer base spread across markets. Trade relations are fair. Business is active. Payments are reported to be slow but correct. In view of strong operational and financial support from Jayanti Group 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term bank facilities: BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
June 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term bank facilities: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
June 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 DECLINED BY
|
Name : |
Mr. Viraj |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-80-30705735 |
|
Date : |
26.10.2015 |
LOCATIONS
|
Registered Office : |
604A, Queen's Corner, No.3, Queen's Road, Bangalore –
560001, Karnataka, India |
|
Tel. No.: |
91-80-30705735 |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
|
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Factory: |
100% EOU Door No 1x/721, 723 and 728 Pudussery East Village
Pathinalangal, Wallayar Palakkad, Kerala |
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Tel. No.: |
91-484-2228069 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Milan Ashwin Shah |
|
Designation : |
Whole-time director |
|
Address : |
No.39, Cunningham Road Cross,, Bangalore - 560052, Karnataka, India |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
00193990 |
|
PAN No.: |
ACRPS2240K |
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|
|
|
Name : |
Varsha Shah Ashwin |
|
Designation : |
Whole-time director |
|
Address : |
No.39, Cunningham Road Cross,, Bangalore - 560052, Karnataka, India |
|
Date of Birth/Age : |
04.05.1954 |
|
Date of Appointment : |
01.01.2013 |
|
DIN No.: |
00194234 |
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PAN No.: |
ABOPS9463Q |
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|
|
|
Name : |
Komal Ashwin Shah |
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Designation : |
Whole-time director |
|
Address : |
No.39, Cunningham Road Cross, Bangalore - 560052, Karnataka, India |
|
Date of Birth/Age : |
07.04.1980 |
|
Date of Appointment : |
26.08.2008 |
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DIN No.: |
00194450 |
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PAN No.: |
ALMPS8199K |
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|
|
|
Name : |
Mr. Mahendra Manilal Shah |
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Designation : |
Director |
|
Address : |
F/73, Shubhalaxmi Tower, Opposite Sanghvi, High School, Naranpura, Ahmedabad - 380013, Gujarat, India |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
03417483 |
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|
|
|
Name : |
Bharti Chandravadan Shah |
|
Designation : |
Director |
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Address : |
B/203, Spectrum Tower, Shahibaug Road, Ahmedabad - 380004, Gujarat, India |
|
Date of Birth/Age : |
19.10.1948 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
00054866 |
KEY EXECUTIVES
|
Name : |
Mr. Viraj |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
General Commodities Private Limited, India |
|
691400 |
|
Milan Business Associates Limited, India |
|
866675 |
|
Jayanti Distributors Private Limited, India |
|
500125 |
|
Jayanti Infrastructure Private Limited, India |
|
330000 |
|
Madhukanta J.Shah |
|
36000 |
|
Ashwin J.Shah HUF |
|
116875 |
|
Ashwin J Shah |
|
443325 |
|
Varsha A.Shah |
|
55625 |
|
Milan A.Shah HUF |
|
976675 |
|
Milan A.Shah |
|
57750 |
|
Shlok M Shah |
|
221850 |
|
Kruti M. Shah |
|
187525 |
|
Komal S.Shah |
|
7425 |
|
Rekha Ashwin Shah |
|
4000 |
|
Bina N.Shah |
|
4000 |
|
Saumil G Shah |
|
750 |
|
Total |
|
4500000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
53.07 |
|
Directors or relatives of Directors |
46.75 |
|
Other top fifty shareholders |
0.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Processing, Manufacturing and selling of Agricultural Products such as tea and black pepper and other spices such as ginger, pepper, turmeric, and chillies etc. |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
Kotak Mahindra Bank Limited, 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
S. Krishnaswami and Company Chartered Accountants |
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Address : |
No 389/1, 7th Main 42nd cross, Jayanagar 5th Block, Bangalore- 41, Karnataka, Indai |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAYFS5079B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Million |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
45.000 |
17.350 |
17.350 |
|
(b) Reserves & Surplus |
547.741 |
548.557 |
547.911 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
592.741 |
565.907 |
565.261 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
28.847 |
57.431 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
7.711 |
9.294 |
5.739 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
12.138 |
9.840 |
8.624 |
|
Total
Non-current Liabilities (3) |
48.696 |
76.565 |
14.363 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1060.776 |
717.755 |
1077.503 |
|
(b) Trade payables |
140.104 |
39.373 |
47.721 |
|
(c) Other current liabilities |
115.238 |
277.985 |
31.586 |
|
(d) Short-term provisions |
14.286 |
10.605 |
8.882 |
|
Total
Current Liabilities (4) |
1330.404 |
1045.718 |
1165.692 |
|
|
|
|
|
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TOTAL |
1971.841 |
1688.190 |
1745.316 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
502.667 |
474.261 |
450.189 |
|
(ii) Intangible Assets |
3.592 |
2.782 |
4.636 |
|
(iii) Capital work-in-progress |
0.000 |
22.428 |
8.940 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.285 |
0.285 |
0.285 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
74.797 |
77.343 |
82.534 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
581.341 |
577.099 |
546.584 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1184.140 |
944.582 |
894.710 |
|
(c) Trade receivables |
114.401 |
120.405 |
108.378 |
|
(d) Cash and cash equivalents |
2.216 |
1.105 |
123.755 |
|
(e) Short-term loans and
advances |
89.743 |
44.999 |
71.889 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1390.500 |
1111.091 |
1198.732 |
|
|
|
|
|
|
TOTAL |
1971.841 |
1688.190 |
1745.316 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2902.481 |
1555.976 |
2050.328 |
|
|
Other Income |
63.579 |
41.368 |
13.273 |
|
|
TOTAL
(A) |
2966.060 |
1597.344 |
2063.601 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2412.724 |
1305.645 |
1678.360 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
122.230 |
(112.379) |
13.864 |
|
|
Employees benefits expense |
142.441 |
119.399 |
79.581 |
|
|
Other expenses |
115.387 |
129.551 |
102.065 |
|
|
TOTAL
(B) |
2792.782 |
1442.216 |
1873.870 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
173.278 |
155.128 |
189.731 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
90.405 |
76.840 |
104.594 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
82.873 |
78.288 |
85.137 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
74.678 |
71.185 |
70.437 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
8.195 |
7.103 |
14.700 |
|
|
|
|
|
|
|
Less |
TAX (H) |
2.486 |
6.457 |
-3.044 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
5.709 |
0.646 |
17.744 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.560 |
17.910 |
13.170 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
17.000 |
13.000 |
|
|
Balance
Carried to the B/S |
7.270 |
1.560 |
17.910 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.32 |
0.15 |
NA |
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 flows from (used in) operations |
(158.954) |
389.277 |
(188.582) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.20 |
0.04 |
0.87 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.97 |
9.97 |
9.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.42 |
0.43 |
0.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.84 |
1.37 |
1.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.06 |
1.03 |
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 |
17.350 |
17.350 |
45.000 |
|
Reserves & Surplus |
547.911 |
548.557 |
547.741 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
565.261 |
565.907 |
592.741 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
57.431 |
28.847 |
|
Short term borrowings |
1077.503 |
717.755 |
1060.776 |
|
Total
borrowings |
1077.503 |
775.186 |
1089.623 |
|
Debt/Equity
ratio |
1.906 |
1.370 |
1.838 |
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 |
2050.328 |
1555.976 |
2902.481 |
|
|
|
(24.111) |
86.538 |
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 |
2050.328 |
1555.976 |
2902.481 |
|
Profit |
17.744 |
0.646 |
5.709 |
|
|
0.87% |
0.04% |
0.20% |
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 |
BUSINESS AND
OPERATIONS
Business for the year has nearly doubled and profit after tax has increased as well, despite higher interest cost and depreciation. Heavy investments made in previous years have gained us substantial recognition in the international market resulting in increased business.
For the current year, the directors expect similar turnover despite much lower pepper production in India. The directors expect higher business profit arising from more efficient utilisation of machinery and focusing on items that have greater profitability. Additionally, the inventory management process will be changed which will result in lower interest costs during future years.
Shares of NKG Jayanti Private Limited have been sold recently to their JV partner, Neumann KaffeeGruppe, and this will result in a one-time jump in profits and improved Cash Flow.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans repayable on demand from others |
28.847 |
57.431 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand from others |
83.999 |
6.565 |
|
Total |
112.846 |
63.996 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10567326 |
31/03/2015 |
147,500,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G
BLOCK, BANDRA KURLA COMPLEX, BANDR |
C52579158 |
|
2 |
10511878 |
01/08/2014 |
40,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJ |
C14338412 |
|
3 |
10369515 |
30/07/2012 |
200,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND FLOOR,ING
VYSYA HOUSE,, M.G.ROAD,, BANG |
B45295029 |
|
4 |
10232246 |
20/12/2011 * |
250,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR,
INTERNATIONAL INFOTECH PARK,, T |
B27867811 |
|
5 |
10037817 |
21/02/2015 * |
1,170,000,000.00 |
THE KARNATAKA BANK LIMITED |
OVERSEAS BRANCH, ST
MARKS ROAD, BANGALORE, KARNAT |
C44943785 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
Refundable to ECGC when payment is received from Bank of Sudan, for Bills already paid by buyer M/s. Sudan Tea Company Limited, in local Sudanese currency. |
7.844 |
7.844 |
|
Unexpired Guarantees |
8.102 |
17.003 |
|
A demand notice issued by the Sales Tax Officer, Palakkad on Sale of Decaf Tea to Madhu Jayanti International Limited, Kolkata (100% EOU), the same is disputed as Sale to EOU are exempt from payment of Sales Tax. The amount has, however, been paid under protest. |
0.190 |
0.190 |
|
Revision petition filed before West Bengal Commercial Taxes appellate and Revisional Board for the disputed sales Tax, Purchase Tax , Interest and penalty for the year 1994-95 |
0.101 |
0.101 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- 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, 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.64.88 |
|
UK Pound |
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.