MIRA INFORM REPORT
|
Report No. : |
340079 |
|
Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADEPT POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
555, 3rd Main
Road, 4th Phase, Peenya Industrial Estate, Bangalore – 560058,
Karnataka |
|
Tel. No.: |
91-80-28360140 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.06.1988 |
|
|
|
|
Com. Reg. No.: |
08-009182 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.44.000 Million |
|
|
|
|
IEC No.: |
0798013753 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26102KA1988PTC009182 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA01612C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA2121N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporting and Importing of High Precision Injection Moulds,
Plastic Components for Engineering Application. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 210000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. For the financial year ended 2014, company possesses healthy
operational performance and it has achieved profit from its operations during
a year under a review. Rating remain constrained on account of company’s moderate financial
risk profile marked by low reserves along with modest net worth base and
leverage balance sheet profile of the company. However, trade relations are reported as fair. Payments are reported
to be slow but correct. In view of leverage balance sheet profile, the company can be
considered for business dealing with some caution. |
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
|
Name : |
Ms. Gowri |
|
Designation : |
Accountant |
|
Contact No.: |
91-80-43312000 |
|
Date : |
07.09.2015 |
LOCATIONS
|
Registered Office/ Factory : |
555, 3rd Main
Road, 4th Phase, Peenya Industrial Estate, Bangalore – 560058,
Karnataka, India |
|
Tel. No.: |
91-80-28361922/ 43312000/ 28364737/ 41171527/ 41492668 |
|
Fax No.: |
91-80-28360140/ 43312100 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 18.08.2014
|
Name : |
Mandukoluthur Ranganatha Chandrasekhar |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
06.06.1938 |
|
Date of Appointment : |
11.09.2006 |
|
DIN No.: |
01372671 |
|
|
|
|
Name : |
Mahalakshmi Chandrasekharan |
|
Designation : |
Director |
|
Address : |
#43/25, Promenade Road, Frazer Town, Bangalore – 560005, Karnataka,
India |
|
Date of Birth/Age : |
26.08.1949 |
|
Date of Appointment : |
10.06.1988 |
|
DIN No.: |
01372557 |
|
|
|
|
Name : |
Mr. Karthik Mandakolathur Chandrasekhar |
|
Designation : |
Director |
|
Address : |
G – 2, Cunningham Apartments No. 5, |
|
Date of Birth/Age : |
16.04.1972 |
|
Date of Appointment : |
02.12.1998 |
|
DIN No.: |
01494762 |
|
|
|
|
Name : |
Ms. Supriya Pauline David |
|
Designation : |
Director |
|
Address : |
G – 2, Cunningham Apartments No. 5, |
|
Date of Birth/Age : |
02.08.1976 |
|
Date of Appointment : |
11.09.2006 |
|
DIN No.: |
01579585 |
KEY EXECUTIVES
|
Name : |
Ms. Gowri |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.08.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Mahalakshmi Chandrasekhar |
|
21000 |
|
Karthikeyan Chandrasekhar |
|
1818 |
|
G Ramesh |
|
1800 |
|
E Pattamal and Mahalakshmi Chandrasekhar |
|
10820 |
|
MC Karthik |
|
40000 |
|
Chandrasekhran and MC Karthik |
|
130148 |
|
MC Karthik |
|
9000 |
|
Ashok Chandra Sekhar |
|
6000 |
|
Sanjay Arora and Binaifer Arora |
|
6 |
|
Kanakam Anantharam and Bhanumathi Narayan |
|
1156 |
|
Akbar Padamasee and Bhanumathi Narayan Padamsee |
|
74450 |
|
Supriya Karthik |
|
3800 |
|
Shardasubba Rao and Sumathi Rao |
|
1 |
|
Uma Chandramouli and CS Chandramouli |
|
1 |
|
|
|
|
|
Total |
|
300000 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Akbar Padamsee and Banumathi Narayan Padamsee |
|
140000 |
|
|
|
|
|
Total |
|
140000 |
As on 18.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporting and Importing of High Precision Injection
Moulds, Plastic Components for Engineering Application. |
|
|
|
|
Products : |
· High Precision Injection Moulds · Plastic Components |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
High Precision Injection Moulds, Plastic Components |
|
Countries : |
· China |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Switzerland · Germany · Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Plastic Components and Moulds |
Nos. |
0.000 |
0.000 |
37629360.00 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
· Agreekomp · Almaak International GmbH · Apex Techno Polymer Private Limited · BASF · Bayer Material Science Limited · Chime Polymers Private Limited · Construction Associates · Elvee Springs Private Limited · Ferromatik Milacon India Private Limited · Gomti Incino · Gujarat Petrosynthese Limited · Image Labels Private Limited · J L Engineering Industries · Kedage Precisions · Kesar Abrasives ·
MSME Services |
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|
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|
Customers : |
End Users
· Juneri Steels · Kaynes Technology · Malaplast · Omni Metrix Private Limited · Shakthi And Company · Siemens Limited · SVS Industries · Titan Industries Limited · Yazaki Corporation · Yazaki Parts Company Limited · Yazaki India Limited ·
Pricol Limited |
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|
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|
No. of Employees : |
80 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
·
State Bank of India, SME Branch, Kumara Park,
No.20 Badagananda Sangha, Kumarapark West, Seshadripuram, Bangalore – 560020,
Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||
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|
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
A.N. Kapali And Company Chartered Accountants |
|
Address : |
No 48. First Floor, Hitananda II, Lavelle Road, Bangalore – 560001,
Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABCPN0471D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 18.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Million |
|
200000 |
Preference Shares |
Rs.100/- each |
Rs.20.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.50.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
Million |
|
140000 |
Preference Shares |
Rs.100/- each |
Rs.14.000
Million |
|
|
|
|
|
|
|
Total |
|
Rs.44.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
44.000 |
44.000 |
44.000 |
|
(b) Reserves & Surplus |
29.943 |
11.653 |
19.183 |
|
(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) |
73.943 |
55.653 |
63.183 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
35.846 |
40.525 |
94.191 |
|
(b) Deferred tax liabilities
(Net) |
5.820 |
5.140 |
3.673 |
|
(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) |
41.666 |
45.665 |
97.864 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
46.963 |
60.920 |
0.000 |
|
(b) Trade payables |
30.717 |
22.932 |
29.650 |
|
(c) Other current liabilities |
0.899 |
1.674 |
1.977 |
|
(d) Short-term provisions |
3.941 |
1.406 |
1.630 |
|
Total
Current Liabilities (4) |
82.520 |
86.932 |
33.257 |
|
|
|
|
|
|
TOTAL |
198.129 |
188.250 |
194.304 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
95.063 |
87.301 |
85.844 |
|
(ii) Intangible Assets |
0.028 |
0.035 |
0.028 |
|
(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 |
0.000 |
0.035 |
0.935 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.432 |
3.711 |
3.611 |
|
(e) Other Non-current assets |
0.400 |
0.561 |
0.362 |
|
Total
Non-Current Assets |
98.923 |
91.643 |
90.780 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
64.235 |
59.485 |
60.140 |
|
(c) Trade receivables |
26.809 |
27.629 |
35.359 |
|
(d) Cash and cash equivalents |
2.283 |
1.468 |
1.563 |
|
(e) Short-term loans and
advances |
5.879 |
8.025 |
6.306 |
|
(f) Other current assets |
0.000 |
0.000 |
0.156 |
|
Total
Current Assets |
99.206 |
96.607 |
103.524 |
|
|
|
|
|
|
TOTAL |
198.129 |
188.250 |
194.304 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
155.982 |
168.223 |
149.003 |
|
|
Other Income |
0.273 |
3.294 |
0.611 |
|
|
TOTAL
(A) |
156.255 |
171.517 |
149.614 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
99.060 |
112.239 |
99.166 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.453 |
(1.102) |
(0.790) |
|
|
Employees benefits expense |
20.357 |
22.140 |
22.945 |
|
|
Other expenses |
24.900 |
27.469 |
23.205 |
|
|
Extra Ordinary Items |
(16.248) |
0.000 |
0.000 |
|
|
TOTAL
(B) |
129.522 |
160.746 |
144.526 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
26.733 |
10.771 |
5.088 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.775 |
12.228 |
12.159 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.958 |
(1.457) |
(7.071) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
4.089 |
4.606 |
4.380 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
7.869 |
(6.063) |
(11.451) |
|
|
|
|
|
|
|
Less |
TAX (H) |
2.137 |
1.467 |
0.995 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
5.732 |
(7.530) |
(12.446) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(19.015) |
(11.485) |
1.523 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
0.000 |
|
|
Dividend |
0.000 |
0.000 |
0.481 |
|
|
Tax on Dividend |
0.000 |
0.000 |
0.081 |
|
|
Total
(M) |
0.000 |
0.000 |
0.562 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
(13.283) |
(19.015) |
(11.485) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
Nil |
14.293 |
0.000 |
|
|
TOTAL
EARNINGS |
Nil |
14.293 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
14.293 |
14.466 |
9.024 |
|
|
Capital Goods |
0.000 |
1.234 |
0.179 |
|
|
TOTAL
IMPORTS |
14.293 |
15.700 |
9.203 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
19.11 |
(25.10) |
(41.48) |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
150.000 |
|
|
|
|
|
The above information has been parted by Ms. Gowri (Accountant)
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 flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.67 |
(4.48) |
(8.35) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
17.14 |
6.40 |
3.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.97 |
(3.22) |
(5.92) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
(0.11) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.12 |
1.82 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.11 |
3.11 |
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 |
44.000 |
44.000 |
44.000 |
|
Reserves & Surplus |
19.183 |
11.653 |
29.943 |
|
Net
worth |
63.183 |
55.653 |
73.943 |
|
long-term borrowings |
94.191 |
40.525 |
35.846 |
|
Short term borrowings |
0.000 |
60.920 |
46.963 |
|
Total
borrowings |
94.191 |
101.445 |
82.809 |
|
Debt/Equity
ratio |
1.491 |
1.823 |
1.120 |
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 |
149.003 |
168.223 |
155.982 |
|
|
|
12.899 |
(7.277) |
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 |
149.003 |
168.223 |
155.982 |
|
Profit |
(12.446) |
(7.530) |
5.732 |
|
|
(8.35%) |
(4.48%) |
3.67% |
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 |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Financial Institutions |
3.148 |
10.475 |
|
From Others |
32.698 |
30.050 |
|
|
|
|
|
Total |
35.846 |
40.252 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90194210 |
31/08/2004 * |
2,100,000.00 |
STATE BANK OF
INDIA |
SSI BRANCH
KUMARA PARK, BANGALORE, Karnataka - 560 |
- |
|
2 |
90194081 |
07/06/2013 * |
79,000,000.00 |
STATE BANK OF
INDIA. |
SME Branch,
Kumara park, NO.20 Badagananda Sangha, |
B79668224 |
|
3 |
90194001 |
04/04/1996 |
1,200,000.00 |
STATE BANK OF
INDIA |
SSI BRANCH
KUMARA PARK, BANGALORE, Karnataka - 560020, INDIA |
- |
|
4 |
90193834 |
15/09/1994 |
900,000.00 |
STATE BANK OF
INDIA |
KAMARA PARK
BRANCH, BANGALORE, Karnataka - 560020, INDIA |
- |
|
5 |
90193385 |
04/04/1996 * |
450,000.00 |
STATE BANK OF
INDIA |
SSI BRANCH
KUMARA PARK, BANGALORE, Karnataka - 560020, INDIA |
- |
FIXED ASSETS
· Land and Site Development
· Building
· Plant and Machinery
· Computers and Peripherals
· Furniture and Fixture
· Other Equipments
· Vehicles
· Electrical Installations
· Testing Equipments
· Dies and Moulds
· 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 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.66.60 |
|
|
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.