MIRA INFORM REPORT
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Report No. : |
347346 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHEMETALL INDIA PRIVATE LIMITED (w.e.f.03.12.2013) |
|
|
|
|
Formerly Known
As : |
CHEMETALL INDIA LIMITED (w.e.f.22.10.2013) CHEMETALL RAI INDIA LIMITED PYRENE-RAI METAL TREATMENTS PRIVATE LIMITED |
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|
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Registered
Office : |
Gat No.569, Pune Nagar Road, Village Koregaon Bhima, Taluka Shirur,
Pune – 412207, Maharashtra |
|
Tel. No.: |
91-2137-618000 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
22.10.1964 |
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Com. Reg. No.: |
11-131374 |
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Capital Investment
/ Paid-up Capital : |
Rs. 7.350
Million |
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|
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CIN No.: [Company Identification
No.] |
U28920PN1964PTC131374 |
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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.] |
AAACP2287P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Chemical and Pharmaceutical
Products, Cleaning Material, etc. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
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 2500000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Chemetall India Private Limited is the subsidiary of “Rockwood Inc.”.
CIPL manufactures speciality chemicals and provides a range of products for
diverse industrial applications. It is well-established company having good
track record. The rating marked by its healthy operating margin and established
customer profile. The ratings also continue to factor in company’s strong
financial risk profile, driven by the company’s healthy capital structure,
comfortable cash accruals and debt-free operations, along with its ample
liquidity, driven by healthy unencumbered cash and bank balances. Further rating takes into consideration, established market position
of its parent and in the global speciality chemicals industry. And financials
as well as managerial support which subject company gets from its holding
company. This rating strength is partially offset by company’s high revenue
concentration risk and exposure to intense competition in the domestic
speciality chemicals industry. Trade relations are fair. Business is active. Payment terms are
regular and as per commitment. In view of debt free profile backed by strong holding company support,
the company can be considered good 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 |
CRISIL |
|
Rating |
Long term Rating = A |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
August 01, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating = A1 |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
August 01, 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. A. Kumar |
|
Designation : |
General Finance Manager |
|
Contact No.: |
91-2137-618000 |
|
Date : |
27.10.2015 |
LOCATIONS
|
Registered/ Sales Office/ Factory 1 : |
Gat No.569, Pune Nagar Road, Village Koregaon Bhima, Taluka Shirur,
Pune – 412207, Maharashtra, India |
|
Tel. No.: |
91-2137-618000 |
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Fax No.: |
91-2137-253128 |
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E-Mail : |
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|
Website : |
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Factory 2 : |
RNS 23, Renault Nissan Suppliers Park, Sipcot Industrial Park,
Vadukkapattu Village, Oragadam, Sriperumpudur Taluk, Kanchipuram – 603204,
Tamilnadu, India |
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|
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|
Factory 3 : |
Located at: · Chennai |
DIRECTORS
AS ON 06.04.2015
|
Name : |
Asis Ray |
|
Designation : |
Managing director |
|
Address : |
A1 PU/602, Landmark Gardens 78, Kalyani Nagar, Pune – 411006, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1952 |
|
Qualification : |
B. Tech from IIT Kharagpur |
|
Experience : |
39 Years |
|
Date of Appointment : |
19.01.2010 |
|
PAN No.: |
ACHPR3728B |
|
DIN No.: |
01420166 |
|
|
|
|
Name : |
Mr. Shailendrajit Charanjit Rai |
|
Designation : |
Director |
|
Address : |
G-5, Farrjeste Apartment, Boat Club Road, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1956 |
|
Date of Appointment : |
19.02.2014 |
|
PAN No.: |
AABPR5786K |
|
DIN No.: |
00050950 |
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|
|
|
Name : |
Mr. Michael Watson John |
|
Designation : |
Director |
|
Address : |
Grafton House, Stable Close Finmere Bucks MK 18 4AD, UK |
|
Date of Birth/Age : |
18.01.1954 |
|
Date of Appointment : |
20.12.2005 |
|
DIN No.: |
02239076 |
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|
|
|
Name : |
Joris Merckx |
|
Designation : |
Nominee director |
|
Address : |
Kerkstraat 18 Meensel – Kiezegem 3391 |
|
Date of Birth/Age : |
02.07.1964 |
|
Date of Appointment : |
10.12.2008 |
|
DIN No.: |
02512484 |
KEY EXECUTIVES
|
Name : |
Mr. A. Kumar |
|
Designation : |
General Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.04.2015
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Chemetall India Company Limited, United Kingdom |
294000 |
40.00 |
|
Chemetall GmbH, Germany |
73500 |
10.00 |
|
Chemetall Asia Pte Limited, Singapore |
367500 |
50.00 |
|
|
|
|
|
Total |
735000 |
100.00 |
AS ON 06.04.2015
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Chemical and Pharmaceutical
Products, Cleaning Material, etc. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Dubai |
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Imports : |
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Products : |
Raw Material |
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Countries : |
European Countries |
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Terms : |
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Selling : |
Cash, L/C, Cheque and Credit |
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Purchasing : |
Cash, L/C, Cheque and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706 B Wings, 7th Floor, ICC Trade Tower,
International Convention Centre, Senapati Bapat Road, Pune – 411016,
Maharashtra, India |
|
Tel. No.: |
91-20-66244600 |
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Fax No.: |
91-20-66244605 |
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Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Ultimate Holding
Company : |
Rockwood Inc |
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|
Holding company : |
Rockwood GmbH |
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Fellow Subsidiary
company : |
·
Chemetall Italia S.R.L, Italia ·
Chemetall, sdad anma, Spain ·
Chemetall S.A.S, France ·
Chemetall Limited, Dubai ·
Chemetall (New Zealand) Pty Limited ·
Rockwood Lithium, KK, Japan ·
Chemetall Philippines Co. Limited Inc. ·
Chemetall GmbH ·
Chemetall India Company Limited, U.K ·
Chemetall Asia Pte Limited Singapore ·
Aachner Chemische Werke Gmbh, Germany ·
Hebro Chemie Gmbh, Germany ·
Chemetall Corporation US ·
Chemetall Pty Limited, South Africa |
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|
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
Shanghai Chemetall Chemicals Co. Limited,
China ·
Alicon Castalloy Limited
[L99999PN1990PLC059487] ·
Enkei Wheels (India) Limited
[L34300PN2009PLC133702] ·
Silicon Meadows Design Limited
[U72200MH2000PLC128571] ·
Atlas Castalloy Limited
[U27100MH1985PLC038111] |
CAPITAL STRUCTURE
AS ON 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750,000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
735,000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.350
Million |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 [12 Months] |
31.12.2013 [9 Months] |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.350 |
7.350 |
7.350 |
|
(b) Reserves & Surplus |
885.092 |
713.558 |
563.957 |
|
(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) |
892.442 |
720.908 |
571.307 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.284 |
|
(b) Deferred tax liabilities (Net) |
4.525 |
5.121 |
2.790 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
34.278 |
25.693 |
19.621 |
|
Total
Non-current Liabilities (3) |
38.803 |
30.814 |
22.695 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
117.196 |
124.720 |
138.154 |
|
(c)
Other current liabilities |
29.309 |
26.758 |
17.235 |
|
(d)
Short-term provisions |
4.269 |
1.918 |
103.147 |
|
Total
Current Liabilities (4) |
150.774 |
153.396 |
258.536 |
|
|
|
|
|
|
TOTAL |
1082.019 |
905.118 |
852.538 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
254.126 |
254.457 |
245.994 |
|
(ii)
Intangible Assets |
7.955 |
15.210 |
20.001 |
|
(iii)
Capital work-in-progress |
1.292 |
4.093 |
2.806 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
41.448 |
37.387 |
12.777 |
|
(e)
Other Non-current assets |
0.232 |
0.232 |
0.232 |
|
Total
Non-Current Assets |
305.053 |
311.379 |
281.810 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
114.616 |
116.289 |
91.365 |
|
(c)
Trade receivables |
311.181 |
291.113 |
286.599 |
|
(d)
Cash and cash equivalents |
336.749 |
160.420 |
177.842 |
|
(e)
Short-term loans and advances |
12.014 |
15.186 |
14.296 |
|
(f)
Other current assets |
2.406 |
10.731 |
0.626 |
|
Total
Current Assets |
776.966 |
593.739 |
570.728 |
|
|
|
|
|
|
TOTAL |
1082.019 |
905.118 |
852.538 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 [12 Months] |
31.12.2013 [9 Months] |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1400.000
[Approx.] |
|
1270.392 |
|
|
|
Other Income |
|
|
9.604 |
|
|
|
TOTAL (A) |
NA
|
NA
|
1279.996 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
721.203 |
|
|
|
Purchases of Stock-in-Trade |
|
|
6.690 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
|
(1.671) |
|
|
|
Employees benefits expense |
|
|
127.442 |
|
|
|
Other expenses |
|
|
160.186 |
|
|
|
TOTAL (B) |
NA
|
NA
|
1013.850 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial Expenses) |
(Including
Financial Expenses) |
266.146 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.495 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
288.044 |
246.543 |
265.651 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
25.860 |
18.510 |
42.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
262.184 |
228.033 |
223.333 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
90.650 |
78.431 |
71.691 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
171.534 |
149.602 |
151.642 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
60.662 |
33.792 |
32.983 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
233.38 |
203.54 |
206.32 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1500.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs.1600.000 Million
The above information has been parted by Mr. A. Kumar [General Finance
Manager]
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.12.2014 [12 Months] |
31.12.2013 [9 Months] |
31.03.2013 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.566 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
261.972 |
192.287 |
258.331 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 [12 Months] |
31.12.2013 [9 Months] |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
NA |
11.94 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
NA |
20.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.26 |
25.31 |
26.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.32 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.15 |
3.87 |
2.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.12.2013
[9
Months] |
31.12.2014
[12
Months] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
7.350 |
7.350 |
7.350 |
|
Reserves & Surplus |
563.957 |
713.558 |
885.092 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
571.307 |
720.908 |
892.442 |
|
|
|
|
|
|
Long-term borrowings |
0.284 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
0.566 |
0.000 |
0.000 |
|
Total
borrowings |
0.850 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.001 |
0.000 |
0.000 |
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 two 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10099255 |
14/01/2009 * |
16,000,000.00 |
CITIBANK N. A. |
2413, PARMAR HOUSE,
EAST STREET, PUNE, MAHARASHTRA - 411001, INDIA |
A56227382 |
|
2 |
90241302 |
24/02/2009 * |
17,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A59505966 |
|
3 |
90240394 |
11/11/2014 * |
31,500,000.00 |
CANARA BANK |
FORT (MAIN)
BRANCH, WARDEN HOUSE, SIR P.M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
C34345504 |
* Date of charge modification
CHANGE OF ADDRESS:
The Registered office of the company has been shifted from Nirlon House,
254 B, Dr Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India to the
present address w.e.f.01.01.2008.
COMPANY OPERATIONS:
The year (31.12.2014) has resulted in a net profit of Rs. 171.534
Million and after providing Rs. 25.860 Million for Depreciation and Rs. 90.650
Million for Taxation. This amount together with the Profit of Rs. 574.341
Million brought forward from earlier years, aggregating to Rs. 745.875 Million
is available for appropriation.
The previous financial year of the Company comprised nine months
commencing from 1st April, 2013 and ending on 31st December, 2013. The Current
financial year covers a period of twelve months, commencing from 1st January
2014 to 31st December 2014, as approved by the Board. The subsequent financial
years of the Company shall comprise 12 months, to commence from 1st January of
every year and to end on 31st December of that year. Accordingly,
the figures are not comparable.
The outlook for the coming year is positive.
CONTINGENT
LIABILITIES:
|
Particulars |
31.12.2014 (Rs.
In Million) |
31.12.2013 (Rs.
In Million) |
|
(a)
Excise Duty matters |
3.126 |
3.126 |
|
(b)
Income tax matters (penalty has not been quantified) |
69.445 |
69.434 |
|
(c)
Sales Tax Matters (penalty has not been quantified) |
4.773 |
4.773 |
|
(d) The Company is one of
the defendants in a third party civil suit for recovery of certain dues. As
per the of the Company, all the dues related to the transaction have already
been paid. Pending disposal of the suit, the ultimate liability, if any, is
not ascertainable. (e)
Bills discounted/cheques purchased with banks Rs. Nil ( Previous Year
Rs.4.703 Million) |
||
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Other equipments
·
Goodwill
·
Brands and trade marks
· 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 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. 65.15 |
|
|
1 |
Rs. 99.36 |
|
Euro |
1 |
Rs. 71.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
61 |
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.