MIRA INFORM REPORT

 

 

Report No. :

338844

Report Date :

04.09.2015

 

IDENTIFICATION DETAILS

 

Name :

COLORANT LIMITED

 

 

Formerly Known As :

COLORANT PRIVATE LIMITED

 

 

Registered Office :

302, Abhiraj, 68/B, Swastik Society, Navangpura, Ahmedabad – 380006, Gujarat

Tel. No.:

91-79-26405440

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.10.1999

 

 

Com. Reg. No.:

04-036748

 

 

Capital Investment / Paid-up Capital :

Rs. 5.428 Million

 

 

CIN No.:

[Company Identification No.]

U24110GJ1999PLC036748

 

 

IEC No.:

0801001765

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMC00190B

 

 

PAN No.:

[Permanent Account No.]

AACCC4550C

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Dyes and Chemicals.

 

 

No. of Employees :

36 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 170000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is established company incorporated in the year 1999, and it is an established company having satisfactory track record.

 

The company has reported healthy operational marked by decent profit margin, sound financial risk profile along with comfortable capita structure and debt protection metrics.

 

The rating further drive strength from the long track record of the company and experiences promoter into dyes and chemicals business.

 

The ratings, however, constrained by the vulnerability of its margins to volatility in chemical prices and intense competition faced by the company.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered normal 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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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 31-03-2013.

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Chandrakant Panchal

Designation :

Accountant

Contact No.:

91-79-26405440

Date :

28.08.2015

 

LOCATIONS

 

Registered Office :

302, Abhiraj, 68/B, Swastik Society, Navangpura, Ahmedabad – 380006, Gujarat, India 

Tel. No.:

91-79-26405440

Fax No.:

91-79-26405441

E-Mail :

mktg@colorantindia.com

roc.jbshah@gmail.com

Website :

www.colorantindia.com

Location :

Owned

Locality:

Commercial

 

 

Branch Office 1 :

Delhi

 

C – 16, Green View Apartment, Sector – 19, Rohini, New Delhi – 110085, India

Email :

sanjeev@colorantindia.com

 

 

Branch Office 2 :

Salem

 

7-A/16, Chairman Rathanaswamy Street, Shevapet, Salem – 636002, India

Tel No. :

91-427-212218 / 2213119

 

 

Branch Office 3 :

Mumbai

 

184, Sagar Fortune, 5th Floor, Water Field Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Tel No. : 

91-22-26428429 / 30

 

 

Unit I:

Plot No. 116, Phase – II, G. I. D.C, Vatva, Ahmedabad – 382445, Gujarat, India

 

 

Unit II:

Plot No. 3225, Phase IV, G. I. D.C, Vatva Industrial Estate, Ahmedabad – 328445, Gujarat, India

 

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Subhash Jagdishprasad  Bhargava

Designation :

Director

Address :

1/704, Sarjan, Gurukul Road, Memnagar, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

01.10.1959

Date of Appointment :

18.10.1999

DIN No.:

00469963

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24110GJ1999PLC036748

COLORANT LIMITED

Director

18/10/1999

18/10/1999

-

Active

NO

2

U65910GJ1984PTC006981

SUHARSH INVESTMENT PRIVATE LIMITED

Director

9/4/2003

9/4/2003

-

Active

NO

 

 

Name :

Mrs. Rashmi Subhashbhai  Bhargava

Designation :

Director

Address :

1/704, Sarjan, Gurukul Road, Memnagar, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

01.04.1961

Date of Appointment :

18.10.1999

DIN No.:

00469992

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24110GJ1999PLC036748

COLORANT LIMITED

Director

18/10/1999

18/10/1999

-

Active

NO

2

U65910GJ1984PTC006981

SUHARSH INVESTMENT PRIVATE LIMITED

Director

9/4/2003

9/4/2003

-

Active

NO

 

 

Name :

Mr. Pradeep Kumar Shanker Nath  Bhargava

Designation :

Director

Address :

301, Sukirti Annexe, Near Prerana Tirth Part II Bungalow, Satellite, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

01.09.1959

Date of Appointment :

30.09.2010

DIN No.:

02367132

 

 

Name :

Mr. Himanshu Nilkanth Parchure

Designation :

Director

Address :

502, Anurag Flats, Near Vidhyanagar School, Usmanpura, Ahmedabad – 380013, Gujarat, India

Date of Birth/Age :

07.06.1960

Date of Appointment :

30.09.2010

DIN No.:

02378042

 

 

Name :

Vijay Kumar Madan Lal Maheswari

Designation :

Director

Address :

204/12,Indranagar, Brahampuri,, Meerut - 250002, Uttar Pradesh, India

Date of Birth/Age :

08.02.1961

Date of Appointment :

14.12.2011

DIN No.:

01943905

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1989PTC037745

ORPHIC DYEING AND PRINTING MILLS PRIVATE LIMITED

Director

27/09/2008

8/1/2008

31/03/2010

Active

NO

2

U17124DL2006PTC145721

P AND M DYEING ENTERPRISES PRIVATE LIMITED

Additional director

5/5/2008

5/5/2008

-

Active

NO

3

U24110GJ1999PLC036748

COLORANT LIMITED

Additional director

14/12/2011

14/12/2011

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Chandrakant Panchal

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Subhash J Bhargava

 

360100

Rashmi S Bhargava

 

137850

Gaori Subhash Bhargava

 

40000

Vikas J Bhargava

 

3000

Dhral D. Shah

 

600

Rajkumar Mohamlal Khanna

 

600

Arun T Bhargava

 

600

 

 

 

Total

 

542750

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

99.67

Other top 50 shares Holders

0.33

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Dyes and Chemicals.

 

 

Products :

Dyes and Chemicals

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Dyes and Chemicals

Countries :
  • Brazil
  • Bangladesh
  • Pakistan

 

 

Imports :

 

Products :

Raw Materials

Countries :

China

 

 

Terms :

 

Selling :

Cash, L\C and Credit (60,90 Days)

 

 

Purchasing :

Cash, L\C and Credit (60,90 Days)

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and End Users 

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

36 (Approximately)

 

 

Bankers :

Banker Name

Corporation Bank

Branch Address

Gurukul Road Branch, Ahmedabad - 380052, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans from Bank – Property Loan

4.883

4.118

From Bank – Vehicle Loan

1.822

1.708

SHORT TERM BORROWING

 

 

Cash credit with bank

89.689

77.624

Total

96.394

83.450

 

Note:

LONG TERM BORROWING

 

i) Term Loans from bank of Rs. 4.883 Million (Rs. 4.118 Million) is secured by way of Hypothecation/ First charge on Building, Plant and Machineries and other movable assets belonging to the company, personal Guarantee pf Two the Directors and Various collateral securities of company and one of the director.

 

ii) Vehicle loans of Rs. 1.823 Million (Rs. 1.707 Million) are secured against respective vehicles under the Hire Purchase Contract.

 

SHORT TERM BORROWING

 

i) Cash Credit with Corporation Bank are secured by hypothecation/ First charge on book debts and inventories of company, Personal Guarantee of Two of the Directors and various  collateral securities of Company and one of the director.

 

Auditors :

 

Name :

J.B. Shah and Company

Chartered Accountants

Address :

302,A/B, Satkar Complex, Opp. IFCI Bhavan, Lal Bunglow, C.G Road, Navrang Pura,  Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-79-26406348/ 30006348

E-Mail :

ca.jbshah@gmail.com

PAN N Income-tax PAN of auditor or auditor's firm :

ADBPS7222C

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Related Party :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

600000

Equity Shares

Rs.10/- each

Rs.6.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

542750

Equity Shares

Rs.10/- each

Rs.5.428 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

5.428

5.428

5.428

(b) Reserves & Surplus

54.315

39.652

36.520

(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)

59.743

45.080

41.948

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

41.069

34.227

23.595

(b) Deferred tax liabilities (Net)

2.165

2.215

2.271

(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)

43.234

36.442

25.866

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

99.582

85.334

82.045

(b) Trade payables

144.342

72.269

60.979

(c) Other current liabilities

28.604

16.430

15.298

(d) Short-term provisions

6.898

1.791

1.674

Total Current Liabilities (4)

279.426

175.824

159.996

 

 

 

 

TOTAL

382.403

257.346

227.810

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

21.030

21.345

22.340

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

19.689

10.445

3.845

(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

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

40.719

31.790

26.185

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

78.345

42.269

33.129

(c) Trade receivables

224.477

154.574

134.325

(d) Cash and cash equivalents

1.274

1.371

6.192

(e) Short-term loans and advances

1.790

1.586

1.170

(f) Other current assets

35.798

25.756

26.809

Total Current Assets

341.684

225.556

201.625

 

 

 

 

TOTAL

382.403

257.346

227.810

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

675.533

380.184

329.096

 

Other Income

9.083

10.112

8.373

 

TOTAL (A)

684.616

390.296

337.469

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

462.295

245.292

208.565

 

Purchases of Stock-in-Trade

83.743

65.109

55.974

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(10.464)

(6.963)

(2.441)

 

Employees benefits expense

24.249

17.790

15.157

 

Other expenses

82.275

45.333

39.225

 

TOTAL (B)

642.098

366.561

316.480

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

42.518

23.735

20.989

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

16.891

15.496

14.233

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

25.627

8.239

6.756

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

1.619

1.703

1.657

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

24.008

6.536

5.099

 

 

 

 

 

Less

TAX (H)

8.075

2.144

1.867

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

15.933

4.392

3.232

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

26.478

23.747

22.176

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

1.200

0.400

0.400

 

Dividend

1.085

1.085

1.085

 

Tax on Dividend

0.184

0.176

0.176

 

Total (M)

2.469

1.661

1.661

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

39.942

26.478

23.747

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

NA

106.811

127.601

 

TOTAL EARNINGS

NA

106.811

127.601

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

25.237

1.822

 

TOTAL IMPORTS

NA

25.237

1.822

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

29.36

8.09

5.95

 

 

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

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.36

1.16

0.98

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

6.29

6.24

6.38

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.62

2.65

2.28

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.40

0.14

0.12

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.35

2.65

2.52

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.22

1.28

1.26

 

 

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

5.428

5.428

5.428

Reserves & Surplus

36.520

39.652

54.315

Net worth

41.948

45.080

59.743

 

 

 

 

long-term borrowings

23.595

34.227

41.069

Short term borrowings

82.045

85.334

99.582

Total borrowings

105.640

119.561

140.651

Debt/Equity ratio

2.518

2.652

2.354

 

 

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

329.096

380.184

675.533

 

 

15.524

77.686

 

 

 

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

329.096

380.184

675.533

Profit

3.232

4.392

15.933

 

0.98%

1.16%

2.36%

 

 

 

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)

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 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

No

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

 

 

Company Activities: 

 

During the year, the company has its Business Activities and the company has earned profit during the year.

 

 

UNSECURED LOAN

 

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and Advances from Related Parties

 

 

From Directors

29.462

23.462

From Shareholders

0.354

0.311

From Corporate Body

4.548

4.628

SHORT TERM BORROWING

 

 

Loans and advances from related parties

 

 

From Directors

9.893

7.710

Total

44.257

36.111

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10488081

03/03/2014

558,000.00

CORPORATION BANK

CORPORATION BANK, MEMNAGAR, AHMEDABAD, GUJARAT - 
380054, INDIA

C02126043

2

10207912

22/01/2010

480,000.00

CORPORATION BANK

GURUKUL ROAD BRANCH, MEMNAGAR, AHMEDABAD, GUJARAT 
- 380052, INDIA

A78729548

3

10201966

22/01/2010

1,145,000.00

CORPORATION BANK

GURUKUL ROAD BRANCH, MEMNAGAR, AHMEDABAD, GUJARAT 
- 380052, INDIA

A78729860

4

10192013

12/12/2009

577,000.00

CORPORATION BANK

GURUKUL ROAD BRANCH, MEMNAGAR, AHMEDABAD, GUJARAT 
- 380052, INDIA

A75644567

5

90105466

24/12/2004

5,000,000.00

CORPORATION BANK

GURUKUL ROAD BRANCH, AHMEDABAD, GUJARAT, INDIA

-

6

90105292

03/12/2013 *

158,720,000.00

CORPORATION BANK

GURUKUL ROAD BRANCH, MEMNAGAR, AHMEDABAD, GUJARAT 
- 380052, INDIA

B91654160

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Factory Building
  • Vehicles
  • Furniture and Fixtures
  • Computer
  • Office Equipment’s
  • Plant and Machinery

 

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.66.23

UK Pound

1

Rs.101.22

Euro

1

Rs.74.33

 

 

 

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNJ

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

6

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

47

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.