MIRA INFORM REPORT
|
Report No. : |
342286 |
|
Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAXHEAL PHARAMACEUTICALS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
301, 3rd Floor, Maxheal House, Plot No. 169, CST No. 1043, Bangur
Nagar, Goregaon (West), Mumbai – 400090, Maharashtra |
|
Tel. No.: |
91-22-67347718 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.06.2009 |
|
|
|
|
Com. Reg. No.: |
11-193624 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100MH2009PLC193624 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM36630G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCM0717K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing and exporting of pharmaceutical
products |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 310000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2009 and it is engaged in
manufacturing and exporting of pharmaceutical products. For the financial year ended 2014, company has reported growth 28.57%
in its revenue profile and maintained satisfactory profit margins at 2.76%
during the year under a review. Rating derive strength from the long experience of the promoters in
the pharmaceutical industry supported by above average financial base and
moderate liquidity position of the company. However, rating strength partially offset by its presence in the
competitive and regulated pharmaceutical industry, and susceptibility of
margins to volatile raw material prices. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition.
|
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 |
CARE |
|
Rating |
Long term bank facilities = BB- |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
|
Date |
September 04, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit
risk. |
|
Date |
September 04, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DECLINED BY
Management non cooperative 91-22-67347718
LOCATIONS
|
Registered Office : |
301, 3rd Floor, Maxheal House, Plot No. 169, CST No. 1043,
Bangur Nagar, Goregaon (West), Mumbai – 400090, Maharashtra, India |
|
Tel. No.: |
91-22-67347718 |
|
Fax No.: |
91-22-26786105 |
|
E-Mail : |
sushil@maxheal.in |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Next to Aiyappa Temple, Off Link Road, Bangur Nagar, |
|
Tel No.: |
91-22-67347718 |
|
Email: |
info@maxheal.in |
|
|
|
|
Factory : |
95/6, MIDC, Satpur, Nashik – 422 007, |
|
Tel. No.: |
91-253-2350021 |
|
Fax No.: |
91-253-2353951 |
|
Email: |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Madan Mohanlal Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
04.11.1948 |
|
Date of Appointment : |
21.12.2014 |
|
PAN No.: |
AAPPS5474H |
|
DIN No.: |
00475606 |
|
|
|
|
Name : |
Mrs. Hemlata Madan Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1951 |
|
Date of Appointment : |
21.12.2014 |
|
PAN No.: |
AAPPS5473A |
|
DIN No.: |
00475674 |
|
|
|
|
Name : |
Mr. Mehul Madan Sakhala |
|
Designation : |
Director |
|
Address : |
A-702, Rushi Tower, Plot No. 1, Near Green Acres, Samarth Nagar, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1985 |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AVCPS6796D |
|
DIN No.: |
00475715 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
|
720000 |
72.00 |
|
|
230000 |
23.00 |
|
|
10000 |
1.00 |
|
Mehul Madan Sakhala |
10000 |
1.00 |
|
Rachana Kalpesh Loonawat |
10000 |
1.00 |
|
Priya Atul Lalwani |
10000 |
1.00 |
|
Manish Kamlesh Kothari |
10000 |
1.00 |
|
|
|
|
|
Total |
1000000 |
100.00 |
%20LIMITED%20-%20342286%2022-Sep-2015_files/image017.gif){kind=small}
%20LIMITED%20-%20342286%2022-Sep-2015_files/image018.gif){kind=small}
%20LIMITED%20-%20342286%2022-Sep-2015_files/image020.gif)
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and exporting of pharmaceutical
products |
|
|
|
|
Products : |
Pharmaceutical Products |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS AS ON 31.03.2013
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tablets |
Lacs |
14976 |
2230.08 |
|
Capsules |
Lacs |
9000 |
942.15 |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management] |
|||||||||||||||||||||||||||||||||||||||||||||
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|
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
S.B. Chhajed and Company Chartered Accountants |
|
Address : |
202, Inder Tower, Kaka Saheb Gadgil Marg, Dadar (West), Mumbai –
400025, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABCFS0439E |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises over which the key management personnel and or relative
have significant influence : |
|
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000
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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
101.305 |
83.630 |
58.898 |
|
(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) |
111.305 |
93.630 |
68.898 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
76.153 |
51.176 |
59.809 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.369 |
0.847 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.028 |
|
(d) long-term
provisions |
0.197 |
0.197 |
0.197 |
|
Total Non-current
Liabilities (3) |
76.350 |
51.742 |
60.881 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
119.838 |
119.995 |
131.994 |
|
(b) Trade
payables |
135.383 |
132.463 |
198.387 |
|
(c) Other
current liabilities |
7.921 |
22.149 |
31.742 |
|
(d) Short-term
provisions |
8.330 |
11.000 |
6.513 |
|
Total Current
Liabilities (4) |
271.472 |
285.607 |
368.636 |
|
|
|
|
|
|
TOTAL |
459.127 |
430.979 |
498.415 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
28.690 |
27.563 |
27.749 |
|
(ii)
Intangible Assets |
7.958 |
10.024 |
12.481 |
|
(iii)
Capital work-in-progress |
1.000 |
1.000 |
5.208 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
47.368 |
47.368 |
42.912 |
|
(c) Deferred tax assets (net) |
0.233 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.870 |
23.138 |
35.729 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
87.119 |
109.093 |
124.079 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
97.656 |
68.684 |
74.282 |
|
(c) Trade
receivables |
209.929 |
196.874 |
243.155 |
|
(d) Cash
and cash equivalents |
11.671 |
14.228 |
5.095 |
|
(e) Short-term
loans and advances |
52.656 |
42.012 |
51.71 |
|
(f) Other
current assets |
0.096 |
0.088 |
0.094 |
|
Total
Current Assets |
372.008 |
321.886 |
374.336 |
|
|
|
|
|
|
TOTAL |
459.127 |
430.979 |
498.415 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
710.336 |
531.733 |
623.776 |
|
|
Other Income |
18.344 |
28.817 |
29.000 |
|
|
TOTAL
|
728.680 |
560.550 |
652.776 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
622.947 |
426.610 |
499.74 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(20.285) |
3.173 |
27.421 |
|
|
Employees benefits expense |
39.973 |
31.570 |
35.5 |
|
|
Other expenses |
29.155 |
33.329 |
36.355 |
|
|
TOTAL
|
671.790 |
494.682 |
599.016 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
56.890 |
65.868 |
53.760 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.596 |
21.700 |
21.653 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
35.294 |
44.168 |
32.107 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
7.662 |
8.456 |
5.336 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
27.632 |
35.712 |
26.771 |
|
|
|
|
|
|
|
Less |
TAX |
9.956 |
10.981 |
6.418 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
17.676 |
24.731 |
20.353 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
640.093 |
506.927 |
0.000 |
|
|
TOTAL
EARNINGS |
640.093 |
506.927 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Material |
108.090 |
N.A |
N.A |
|
|
TOTAL
IMPORTS |
108.090 |
N.A |
N.A |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
17.68 |
24.73 |
20.35 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
7.921 |
22.149 |
31.741 |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
N.A |
N.A |
N.A |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.49 |
4.65 |
3.26 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.01 |
12.39 |
8.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.73 |
9.33 |
5.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.38 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.83 |
2.06 |
3.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.13 |
1.02 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
58.898 |
83.630 |
101.305 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
68.898 |
93.630 |
111.305 |
|
|
|
|
|
|
long-term borrowings |
59.809 |
51.176 |
76.153 |
|
Short term borrowings |
131.994 |
119.995 |
119.838 |
|
Current maturities of
long-term debts |
31.741 |
22.149 |
7.921 |
|
Total
borrowings |
223.544 |
193.320 |
203.912 |
|
Debt/Equity
ratio |
3.245 |
2.065 |
1.832 |
%20LIMITED%20-%20342286%2022-Sep-2015_files/image022.gif)
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 |
623.776 |
531.733 |
710.336 |
|
|
|
(14.756) |
33.589 |
%20LIMITED%20-%20342286%2022-Sep-2015_files/image024.gif)
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 |
623.776 |
531.733 |
710.336 |
|
Profit |
20.353 |
24.731 |
17.676 |
|
|
3.26% |
4.65% |
2.49% |
%20LIMITED%20-%20342286%2022-Sep-2015_files/image026.gif)
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 |
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS
The financial results for the fifth year
comprising of full period of twelve months have impressively in term of
turnover. During the year under report, company has achieved a sales turnover
of Rs. 710.359 Million (Previous Year Rs. 531.678 Million). The local sales
turnover during the year under report Rs. 128.920 Million (Previous Year Rs.
5.732 Million) and export turnover was of Rs. 581.439 Million (Previous Year
Rs. 525.946 Million). After having regard to appropriation and provisions,
there are was a profit of Rs. 17.675 Million (Previous year Rs. 24.731 Million)
which has been to balance sheet.
Note : Registered office of the company has been
shifted from 102/103 Tulsi Niwas, Pustikar Co-Operative Society Limited,
Jogeshwari (West), Mumbai-400102, Maharashtra, India to the present address
w.e.f. 01.11.2013.
UNSECURED LOAN
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
Long term
borrowings |
|
|
|
Deposit |
|
|
|
Anant Behere |
0.010 |
0.010 |
|
Glenmark Pharma |
0.284 |
0.284 |
|
Distributors Deposits |
0.059 |
0.060 |
|
Leesan Distributors |
0.003 |
0.004 |
|
Deposits from medical representative |
0.020 |
0.020 |
|
Hemant distributors |
0.111 |
0.111 |
|
Loans and advance from related parties
|
54.802 |
26.088 |
|
Loans and advance from others |
- |
0.812 |
|
|
|
|
|
Total |
55.289 |
27.389 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10555806 |
09/03/2015 |
200,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH 1ST FLOOR, UNION BANK B |
C47095922 |
|
2 |
10306801 |
02/02/2015 * |
193,500,000.00 |
ORIENTAL BANK OF COMMERCE |
MALAD (WEST) BRANCH, VIKAS CHAMBERS, LINK ROAD, MALAD WEST, MUMBAI- 400064, MAHARASHTRA, INDIA |
C44665610 |
|
3 |
10233440 |
23/02/2015 * |
104,200,000.00 |
STATE BANK OF INDIA |
SIR P. M. ROAD BRANCH, GRESHAM HOUSE, GROUND FLOOR, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
C46950937 |
|
4 |
10213957 |
02/02/2015 * |
193,500,000.00 |
ORIENTAL BANK OF COMMERCE |
MALAD (WEST) BRANCH, VIKAS CHAMBERS, LINK ROAD, MALAD WEST, MUMBAI- 400064, MAHARASHTRA, INDIA |
C44664209 |
FIXED ASSETS
- Land
- Building
- Plant and
machinery
- Furniture and
Fixture
- Computer
- Fax Machine
- Type writer
- Vehicle
- Fridge
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.65.75 |
|
|
1 |
Rs.102.16 |
|
Euro |
1 |
Rs.74.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
42 |
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.