|
|
|
MIRA INFORM REPORT
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Report No. : |
501961 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SRI MAGENTA CHEMICALS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
S No. 177 Kurunaikulam Road Tamilpadi Post, Tiruchuli Taluk
Virudhunagar District - 626129, Tamilnadu |
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Tel. No.: |
91-456-6282502 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
05.09.1988 |
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Com. Reg. No.: |
18-016163 |
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Capital
Investment / Paid-up Capital : |
INR 2.475 Million |
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CIN No.: [Company Identification
No.] |
U24294TN1988PTC016163 |
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|
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AACCS4926J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Subject is engaged in the manufacture of red phosphorus (Registered activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1988. It is a manufacturer of Red Phosphorus, Phosphorus, Trichloride, Phosphorus Oxychloride and Phosphorus Pentasulphide and other allied Chemicals. For the financial year 2017, the company has achieved 10.98% growth in its revenue as compared to previous year revenue and has maintained decent profitability margin of 8.38% during the year under review. The satisfactory financial profile of the company is marked by acceptable networth base along with negligible debt level. The company has favourable Earning Per Share (EPS) of INR 466 against a face value (FV) of INR 100. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. However, these rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low
Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High
Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 07.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Subramanian |
|
Designation : |
General Manager |
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Contact No.: |
91-9345204202 |
|
Date : |
06.04.2018 |
MANAGEMENT NON-COOPERATIVE:
LOCATIONS
|
Registered Office : |
S No. 177 Kurunaikulam Road Tamilpadi Post, Tiruchuli Taluk
Virudhunagar District - 626129, Tamilnadu, India |
|
Tel. No.: |
91-4566-282502 |
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Mobile No.: |
91-9345204202 (Mr. Subramanian) |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Dinakaran Gopal |
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Designation : |
Director |
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Address : |
19(Old No.11), Pillaimar Street, Aruppukottai – 626101, Tamilnadu, India |
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Date of Birth/Age : |
25.06.1939 |
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Date of Appointment : |
23.09.1989 |
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DIN No.: |
00096494 |
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Other Directorship:
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Name : |
Gopal Dinakaran Jothi |
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Designation : |
Director |
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Address : |
19 ( Old No. 11), Pillaimar Street Aruppukottai – 626101, Tamilnadu, India |
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Date of Birth/Age : |
28.10.1949 |
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Date of Appointment : |
22.07.1991 |
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DIN No.: |
00096561 |
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Name : |
Ambarish Ulhas Saraf |
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Designation : |
Director |
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Address : |
No.31/774E, 4th Floor S.A. Road, Vyttila, Kochi – 682019, Kerala, India |
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Date of Birth/Age : |
28.02.1978 |
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Date of Appointment : |
05.04.1999 |
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DIN No.: |
00515034 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Subramanian |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ambarish Ulhas Saraf |
|
19375 |
|
Amol Ulhas Saraf |
|
4950 |
|
Gopal Dinakaran JT With Ambarish Ulhas Saraf |
|
180 |
|
G D Jothi JT With Ambarish Ulhas Saraf |
|
45 |
|
Ambarish Ulhas Saraf JT With G D Jothi |
|
67 |
|
Ambarish U Saraf JT With Saraf Enterprises |
|
23 |
|
Vivek Anilkumar Saraf |
|
10 |
|
Ajit V Saraf |
|
100 |
|
Total |
|
24750 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the manufacture of red phosphorus (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
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 : |
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Auditors : |
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Name : |
K Subramanian and Company Chartered Accountants |
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Address : |
No.153, North Veli Street, Simmakkal Madurai – 625001, Tamilnadu,
India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFK4503C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate Concerns : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24750 |
Equity Shares |
INR 100/- each |
INR 2.475 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24750 |
Equity Shares |
INR 100/- each |
INR 2.475 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.475 |
2.475 |
2.475 |
|
(b) Reserves & Surplus |
56.783 |
45.193 |
37.699 |
|
(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) |
59.258 |
47.668 |
40.174 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.720 |
1.088 |
1.733 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.300 |
0.300 |
0.300 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1.020 |
1.388 |
2.033 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
12.522 |
17.728 |
17.803 |
|
(b) Trade payables |
0.559 |
0.700 |
0.711 |
|
(c) Other current liabilities |
0.562 |
0.469 |
0.036 |
|
(d) Short-term provisions |
2.106 |
5.937 |
5.463 |
|
Total
Current Liabilities (4) |
15.749 |
24.834 |
24.013 |
|
|
|
|
|
|
TOTAL |
76.027 |
73.890 |
66.220 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6.798 |
6.579 |
8.033 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.846 |
0.918 |
0.524 |
|
(d) Long-term Loan and Advances |
0.224 |
0.270 |
0.235 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
7.868 |
7.767 |
8.792 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11.682 |
17.053 |
22.089 |
|
(c) Trade receivables |
49.516 |
27.911 |
30.473 |
|
(d) Cash and cash equivalents |
2.361 |
17.923 |
0.185 |
|
(e) Short-term loans and
advances |
4.600 |
3.236 |
4.681 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
68.159 |
66.123 |
57.428 |
|
|
|
|
|
|
TOTAL |
76.027 |
73.890 |
66.220 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
138.507 |
124.928 |
103.019 |
|
|
Other Income |
3.384 |
3.761 |
1.762 |
|
|
TOTAL
|
141.891 |
128.689 |
104.781 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
81.857 |
79.264 |
65.164 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
7.782 |
(1.128) |
(3.252) |
|
|
Employees benefits expense |
14.319 |
12.428 |
11.255 |
|
|
Other expenses |
15.553 |
17.295 |
15.047 |
|
|
TOTAL |
119.511 |
107.859 |
88.214 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
22.380 |
20.830 |
16.567 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.580 |
2.103 |
2.523 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
20.800 |
18.727 |
14.044 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.759 |
2.646 |
2.627 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
18.041 |
16.081 |
11.417 |
|
|
|
|
|
|
|
Less |
TAX |
6.451 |
5.511 |
3.768 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
11.590 |
10.570 |
7.649 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
23.060 |
16.566 |
12.899 |
|
|
|
|
|
|
|
Less |
Shortage Provision |
0.000 |
0.094 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
1.000 |
1.000 |
1.000 |
|
|
Provision for proposed
Dividend on Equity Shares |
0.000 |
2.475 |
2.475 |
|
|
Provision for proposed
Dividend tax |
0.000 |
0.507 |
0.507 |
|
|
Total
|
1.000 |
3.982 |
3.982 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
33.650 |
23.060 |
16.566 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
52.530 |
52.094 |
21.776 |
|
|
TOTAL
EARNINGS |
52.530 |
52.094 |
21.776 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
58.558 |
52.087 |
60.220 |
|
|
TOTAL
IMPORTS |
58.558 |
52.087 |
60.220 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
466.00 |
427.00 |
309.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
4.360 |
34.136 |
16.719 |
|
Net cash flow from operating activity |
(2.092) |
28.625 |
12.951 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
130.49 |
81.55 |
107.97 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.80 |
4.48 |
3.38 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
2.49 |
3.22 |
3.98 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.92 |
1.22 |
0.75 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
3.29 |
3.17 |
2.06 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.22 |
0.35 |
0.39 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.22 |
0.39 |
0.49 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.27 |
0.52 |
0.60 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.11 |
0.14 |
0.20 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
14.16 |
9.90 |
6.57 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
8.37 |
8.46 |
7.42 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
15.24 |
14.31 |
11.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
19.56 |
22.17 |
19.04 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
4.33 |
2.66 |
2.39 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
3.59 |
1.98 |
1.47 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.78 |
0.65 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.35 |
7.60 |
7.89 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
4.33 |
2.66 |
2.39 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are INR
Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2.475 |
2.475 |
2.475 |
|
Reserves & Surplus |
37.699 |
45.193 |
56.783 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
40.174 |
47.668 |
59.258 |
|
|
|
|
|
|
Long Term borrowings |
1.733 |
1.088 |
0.720 |
|
Short Term borrowings |
17.803 |
17.728 |
12.522 |
|
Total
borrowings |
19.536 |
18.816 |
13.242 |
|
Debt/Equity
ratio |
0.486 |
0.395 |
0.223 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
103.019 |
124.928 |
138.507 |
|
|
|
21.267 |
10.869 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
103.019 |
124.928 |
138.507 |
|
Profit |
7.649 |
10.570 |
11.590 |
|
|
7.42% |
8.46% |
8.37% |
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) |
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 |
No |
|
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 |
BACKGROUND OF THE
COMPANY
The company is a Private Limited Company), and incorporated under the provisions of the Companies Act, 1956. The company is engaged in the manufacture of red phosphorus.
STATE OF AFFAIRS OF
THE COMPANY – SECTION 134(I) READ WITH RULE 8(5)(I) OF THE COMPANIES (ACCOUNTS)
RULES, 2014:
During the year the company has earned a gross income of INR138.507 Million against INR 124.928 Million in the previous year. The Directors report a net profit (after tax) of INR 11.590 Million against INR 10.571 Million in the previous year. The company was able to maintain the consistency in the quality and efficient delivery of the products and tasks. The Provision for Depreciation is INR 2.759 Million (PY 2.646) Million.
FUTURE OUTLOOK:
The business outlook for the current year appears to be promising from the results achieved by the Company so far in the current year. The Company is confident of maintaining the trend to achieve the desired results in the current year. The Company has tied up for the uninterrupted supply of Yellow Phosphorus from the overseas supplier and thereby assuring production and timely supply.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loan from Director Shareholders |
0.402 |
0.056 |
|
|
|
|
|
Total |
0.402 |
0.056 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B94089349 |
90288327 |
UNION BANK OF INDIA |
17/08/2005 |
19/12/2013 |
- |
30800000.0 |
WILLINGDON ISLAND BRANCH, SARAF BUILDING, MARAR ROAD, KOCHI – 682003, INDIA |
|
2 |
A68768506 |
90303551 |
THE TAMIL NADU INDUSTRIAL INVESTMENT CORPORATION LTD. |
12/07/1990 |
- |
17/08/2009 |
534000.0 |
ARUL MANAI 27WHITES ROAD, CHENNAI – 600014, TAMILNADU, INDIA |
FIXED ASSETS
- Land
- Building
- Pipeline and Water Installment
- Machinery
- Electrical Machinery
- Generator
- Office Equipment
- Furniture and Fittings
- Vehicle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.98 |
|
|
1 |
INR 90.95 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.