MIRA INFORM REPORT
|
Report No. : |
347903 |
|
Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUCHI WORLDWIDE LIMITED |
|
|
|
|
Registered
Office : |
Ruchi House, Royal Palms, Survey No. 169, Aarey Milk Colony, Near Mayur Nagar, Goregaon (East), Mumbai – 400065, Maharashtra |
|
Tel. No.: |
91-22-22042867 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
05.06.1996 |
|
|
|
|
Com. Reg. No.: |
11-100016 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.189.407 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15499MH1996PLC100016 |
|
|
|
|
IEC No.: |
0396028161 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR08215E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR4937N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is involved in dealing, import/export of various agri-commodities including edible oil, raw cotton, castor seeds and oil, coffee, grain, pulses, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of Ruchi Soya Industries Limited (RSIL) and
a part of the Indore, Madhya Pradesh based Ruchi Group of Industries. It is an
international trading arm of the Ruchi Group involved in import/export of
various agri-commodities including edible oil, raw cotton, castor seeds and
oil, coffee, grain, pulses, etc. As on March 31, 2014, RSIL held 52.48%
equity in Ruchi Worldwide Limited and the balance was with the Shahra family,
the promoters of RSIL. It has satisfactory track record. Profitability of the company is low during FY 2014. However, the
company possesses a decent profile marked by adequate networth base along
with fair liquidity. The rating also takes into consideration leadership position in the
domestic edible oil, experienced management, established marketing and
distribution network and favourable demand scenario in the domestic market
for edible oil. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. In view of strong holding, the company can be considered for business
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 |
CARE |
|
Rating |
Long Term Bank Facilities = BBB (SO) |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
13.01.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities =
A3+ (SO) |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
13.01.2015 |
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
Management non-Cooperative
Contact No.: 91-22-39388200
LOCATIONS
|
Registered Office : |
Ruchi House, Royal Palms, Survey No. 169, Aarey Milk Colony,
Near Mayur Nagar, Goregaon (East), Mumbai – 400065, Maharashtra, India |
|
Tel. No.: |
91-22-22042867 |
|
Fax No.: |
91-22-22042865 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
614, Tulsiani Chambers, Nariman Point, Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-22824851 |
|
|
|
|
Corporate Office : |
301, Mahakosh House, 7/5, South Tukoganj, Indore Near Mandir Road,
Indore – 452025, Madhya Pradesh, India |
DIRECTORS
AS ON: 14.08.2014
|
Name : |
Mr. Vijay Kumar Jain |
|
Designation : |
Additional Director |
|
Address : |
C-119, Ground Floor, Suncity, Sector-54, Gurgaon-122002, Haryana,
India |
|
Date of Birth/Age : |
03.10.1957 |
|
Qualification : |
BSC, Diploma in Business Management |
|
Date of Appointment : |
12.01.2011 |
|
DIN No.: |
00098298 |
|
|
|
|
Name : |
Mr. Navin Khandelwal |
|
Designation : |
Additional director |
|
Address : |
5/1,Saket Nagar, Indore – 452018, Madhya Pradesh, India |
|
Date of Birth/Age : |
22.04.1973 |
|
Date of Appointment : |
04.08.2014 |
|
DIN No.: |
00134217 |
|
|
|
|
Name : |
Mr. Dinesh Chandra Shahra |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
14.07.1952 |
|
Qualification : |
Bachelors of
Engineering |
|
Date of Appointment : |
05.06.1996 |
|
DIN No.: |
00533055 |
|
Name : |
Murugan Navamani |
|
Designation : |
Additional Director |
|
Address : |
No 2 C P Ramasamy Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Appointment : |
05.11.2014 |
|
DIN No.: |
01309393 |
|
|
|
|
Name : |
Meera Dinesh Rajda |
|
Designation : |
Additional Director |
|
Address : |
Row House No. 5, Konark Arcade 76, Viman Nagar, Pune - 411014, Maharashtra, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
07130303 |
KEY EXECUTIVES
|
Name : |
Mr. Neeraj Kumar Jain |
|
Designation : |
Secretary |
|
Address : |
86, Braheshwari, Annex Near Bengal Square, Indore – 452018, Madhya Pradesh, India |
|
Date of Birth/Age : |
3.03.1979 |
|
Date of Appointment : |
08.08.2009 |
|
PAN No.: |
AKGPJ5073L |
|
|
|
|
Name : |
Mr. Ramesh Chandra Gupta |
|
Designation : |
Chief Financial Officer |
|
Address : |
A-1302, Oberoi Park View, Thakur Village, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Appointment : |
01.05.2015 |
|
PAN No.: |
AFAPG6905M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 14.08.2014
|
Names of Shareholders |
No. of Shares |
|
Nitesh Shahra |
100 |
|
Naveen Gupta |
100 |
|
Dinesh Khandelwal |
550 |
|
Ruchi Soya Industries Limited, India |
9939200 |
|
Manish Shahra |
100 |
|
Santosh Shahra |
100 |
|
Kailash Shahra |
550 |
|
Dinesh Shahra (Trustee of Shiva Foundation, India) |
9000000 |
|
|
|
|
TOTAL
|
18940700 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 14.08.2014
|
Category |
Percentage |
|
Bodies corporate |
52.48 |
|
Other top fifty shareholders |
47.52 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is involved in dealing, import/export of various agri-commodities including edible oil, raw cotton, castor seeds and oil, coffee, grain, pulses, etc. |
|
|
|
|
Products / Services : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
|
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Financial Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor,
Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai-400025,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Ashok Khasgiwala and Company Chartered Accountants |
|
Address : |
317, Chetak Centre, "Annex", R.N.T. Marg, Indore
- 452001,
Madhya Pradesh, India |
|
PAN No.: |
AACFA7732P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Ruchi Soya Industries Limited [L15140MH1986PLC038536] |
|
|
|
|
Fellow Subsidiaries : |
Ruchi Agri Trading Pte. Limited |
CAPITAL STRUCTURE
AS ON 14.08.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19000000 |
Equity Shares |
Rs.10/- each |
Rs. 190.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18940700 |
Equity Shares |
Rs.10/- each |
Rs. 189.407
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 |
189.407 |
189.407 |
189.407 |
|
(b) Reserves & Surplus |
731.324 |
708.237 |
572.286 |
|
(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) |
920.731 |
897.644 |
761.693 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.622 |
0.378 |
0.082 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.331 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.953 |
0.378 |
0.082 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1790.741 |
6219.362 |
1829.896 |
|
(b) Trade
payables |
5002.610 |
3894.553 |
3084.415 |
|
(c) Other
current liabilities |
696.986 |
235.552 |
1603.304 |
|
(d) Short-term
provisions |
0.075 |
0.345 |
11.997 |
|
Total Current
Liabilities (4) |
7490.412 |
10349.812 |
6529.612 |
|
|
|
|
|
|
TOTAL |
8412.096 |
11247.834 |
7291.387 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
10.590 |
10.831 |
11.088 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.044 |
0.050 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
46.601 |
9.311 |
6.203 |
|
(e) Other
Non-current assets |
0.428 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
57.629 |
20.186 |
17.341 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1244.619 |
688.537 |
3550.425 |
|
(c) Trade
receivables |
5500.119 |
4699.221 |
1646.040 |
|
(d) Cash
and cash equivalents |
1145.805 |
5322.822 |
1371.598 |
|
(e)
Short-term loans and advances |
348.389 |
340.425 |
524.368 |
|
(f) Other
current assets |
115.535 |
176.643 |
181.615 |
|
Total
Current Assets |
8354.467 |
11227.648 |
7274.046 |
|
|
|
|
|
|
TOTAL |
8412.096 |
11247.834 |
7291.387 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
26771.416 |
28503.531 |
35359.093 |
|
|
|
Other Income |
405.456 |
290.273 |
203.770 |
|
|
|
TOTAL (A) |
27176.872 |
28793.804 |
35562.863 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
0.000 |
98.849 |
272.911 |
|
|
|
Purchase of Stock In Trade |
26138.071 |
24456.238 |
35547.862 |
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
(553.393) |
2853.964 |
(1512.085) |
|
|
|
Employee benefits expenses |
9.623 |
10.507 |
8.193 |
|
|
|
Other Expenses |
1076.750 |
836.284 |
603.022 |
|
|
|
TOTAL (B) |
26671.051 |
28255.842 |
34919.903 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
505.821 |
537.962 |
642.960 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
470.160 |
335.600 |
395.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.661 |
202.362 |
247.164 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.330 |
0.329 |
0.136 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
35.331 |
202.033 |
247.028 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.244 |
66.082 |
80.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
23.087 |
135.951 |
167.001 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
8763.312 |
5805.820 |
10085.432 |
|
|
|
Other Earnings |
0.240 |
2.048 |
1.106 |
|
|
TOTAL EARNINGS |
8763.552 |
5807.868 |
10086.538 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
9953.668 |
11292.310 |
7538.777 |
|
|
TOTAL IMPORTS |
9953.668 |
11292.310 |
7538.777 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.22 |
7.18 |
8.82 |
|
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 |
770.531 |
42.261 |
1235.568 |
|
Net cash flows from (used in) operating activities |
323.128 |
(321.039) |
1167.522 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin
(PAT / Sales) |
(%) |
0.09 |
0.48 |
0.47 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.89 |
1.89 |
1.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.42 |
1.80 |
3.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.23 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.94 |
6.93 |
2.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.08 |
1.11 |
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 |
189.407 |
189.407 |
189.407 |
|
Reserves & Surplus |
572.286 |
708.237 |
731.324 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
761.693 |
897.644 |
920.731 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1829.896 |
6219.362 |
1790.741 |
|
Total borrowings |
1829.896 |
6219.362 |
1790.741 |
|
Debt/Equity ratio |
2.402 |
6.929 |
1.945 |
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 |
35359.093 |
28503.531 |
26771.416 |
|
|
|
(19.388) |
(6.077) |
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 |
35359.093 |
28503.531 |
26771.416 |
|
Profit |
167.001 |
135.951 |
23.087 |
|
|
0.47% |
0.48% |
0.09% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATIONS
DETAILS:
|
Bench:-Bombay Presentation Date:03.05.2014
|
||||||||||||||||||||||||||||||||||||||||||
NOTE:
The Registered Office of the company has been shifted from 614, Tulsiani
Chambers, Nariman Point, Mumbai - 400021, Maharashtra, India to the present
address.
OPERATIONS:
During the year, the sales and other income of the Company has been recorded at Rs. 27176.871 Million as against Rs. 28793.804 Million in the previous financial year. The Company recorded Profit after tax of Rs. 23.087 Million as against Rs. 135.951 Million in the previous financial year.
UNSECURED LOAN
|
PARTICULARS |
Rs.
In Million 31.03.2014 |
Rs.
In Million 31.03.2013 |
|
Short Term
Borrowings |
|
|
|
Term Loans from Banks |
1249.862 |
5835.521 |
|
|
|
|
|
TOTAL |
1249.862 |
5835.521 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs. in Million) |
31.03.2013 (Rs. in Million) |
|
Guarantees |
1213.800 |
160.500 |
|
Other money for which company is contingently liable |
18008.560 |
1654.093 |
|
Total |
19222.360 |
1814.593 |
VIEW INDEX OF
CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10371256 |
13/08/2012 |
12,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
B45672953 |
FIXED ASSETS
- Buildings
- Office
building
- Furniture and
fixtures
- Office Equipment
- Other
equipments
- Furniture and Fixture
- Vehicles
- Motor
vehicles
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.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
---- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
48 |
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.