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|
|
MIRA INFORM REPORT
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Report No. : |
502168 |
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Report Date : |
09.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUNSHINE PAP-TECH PRIVATE LIMITED |
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Registered
Office : |
25, Patel Park, Himmatnagar Kampa, Near Sharda Kunj Society, Motipura, Himmatnagar – 383001, Gujarat |
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Tel. No.: |
91-2526-228000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
07.09.2007 |
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Com. Reg. No.: |
04-069175 |
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Capital Investment
/ Paid-up Capital : |
INR 39.779 Million |
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|
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CIN No.: [Company Identification
No.] |
U21093GJ2007PTC069175 |
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|
|
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IEC No.: [Import-Export Code No.] |
0311009301 |
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PAN No.: [Permanent Account No.] |
AALCS1724R |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is primarily engaged in the manufacturing of corrugated kraft papers (Registered Activity) |
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No. of Employees
: |
Not Available |
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 1010000 |
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|
Status : |
Good |
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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 2007. It is a manufacturer
of corrugated kraft papers. For the financial year 2017, the revenue of the company has increased by
6.90% along with average profit margin of 1.26%. The sound financial profile of the company is marked by adequate
networth base along with negligible debt level. However, theses rating strength 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 |
|
High Risk |
C2 |
|
Very High Risk |
D |
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 09.04.2018
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.
LOCATIONS
|
Registered Office : |
25, Patel Park, Himmatnagar Kampa, Near Sharda Kunj Society, Motipura, Himmatnagar – 383001, Gujarat, India |
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Tel. No.: |
91-2526-228000 |
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Mobile No.: |
91-7875533344 (Mr. Rahul) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
375/379, Wada-Shahapur Road, Opposite Roofit Industries,
Abitghar, Wada District, Thane – 421303, Maharashtra, India |
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Location : |
Owned |
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|
|
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Sales Office : |
Located at: ·
Andheri, Mumbai, Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Praveen Kumar Patel |
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Designation : |
Director |
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Address : |
Fafadih, Raipur – 492001, Chhattisgarh, India |
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Date of Birth/Age : |
06.01.1964 |
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Date of Appointment : |
07.09.2007 |
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DIN No.: |
01268151 |
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Other
Directorship :
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Name : |
Mr. Anil Patel |
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Designation : |
Director |
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Address : |
Santhipuram, Visakhapatnam – 530003, Andhra Pradesh, India |
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Date of Birth/Age : |
03.04.1976 |
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Date of Appointment : |
05.09.2008 |
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DIN No.: |
01301177 |
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Other
Directorship :
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Name : |
Mr. Jayesh Mansukhlal Patel |
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Designation : |
Director |
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Address : |
Flat No. 403 Lotus Co-operative Housing Society Limited, Flower Valley
Complex, Khadak Pada, Kalyan (West), Thane – 421301, Maharashtra, India |
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Date of Birth/Age : |
28.06.1983 |
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Date of Appointment : |
21.09.2011 |
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DIN No.: |
03434926 |
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Other
Directorship :
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MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Goyal (Member of Goyal and Modi Associates) |
|
75000 |
|
Praveenkumar Patel |
|
75000 |
|
Anil Patel |
|
75000 |
|
Sanjay Patel |
|
25000 |
|
Ram Commodities Private Limited, India |
|
671420 |
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Shree Dwarkesh Tradelinks, India |
|
383315 |
|
Aryaman Tradelinks Private Limited, India |
|
315471 |
|
Masterstroke Traders Private Limited, India |
|
1308730 |
|
Dukraft Pulp and Papers Private Limited, India |
|
120000 |
|
E-Dify Learning Systems Private Limited, India |
|
789032 |
|
Keshavalal Patel |
|
12175 |
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Pushpa Patel |
|
62850 |
|
Jigna Kesrani |
|
14875 |
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Dimal Patel |
|
17575 |
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Nikhil Patel |
|
5425 |
|
Vijay Patel |
|
27050 |
|
Total |
|
3977918 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
9.80 |
|
Promoters (Body corporate) |
90.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the manufacturing of corrugated kraft papers (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
P. G. Agarwal and Company Chartered Accountants |
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Address : |
Office No. 59/60, Ground Floor, Raghuleela Mall, Kandivali (West), Mumbai – 400067, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAPA5380K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
Swastik Pulp and Papers Private Limited CIN No.: U00210CT2005PTC017652 |
CAPITAL STRUCTURE
After 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : INR 43.753
million
As on 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3977918 |
Equity Shares |
INR 10/- each |
INR 39.779 Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
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 |
39.779 |
39.465 |
37.080 |
|
(b) Reserves and Surplus |
297.308 |
273.545 |
237.380 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
15.540 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
352.627 |
313.010 |
274.460 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26.702 |
79.035 |
147.545 |
|
(b) Deferred tax liabilities (Net) |
4.770 |
6.228 |
5.109 |
|
(c) Other long-term
liabilities |
27.600 |
30.500 |
46.382 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
59.072 |
115.763 |
199.036 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
131.401 |
146.234 |
148.521 |
|
(b) Trade
payables |
150.754 |
125.526 |
111.765 |
|
(c) Other
current liabilities |
129.028 |
118.762 |
112.741 |
|
(d) Short-term
provisions |
19.055 |
10.716 |
6.904 |
|
Total Current
Liabilities (4) |
430.238 |
401.238 |
379.931 |
|
|
|
|
|
|
TOTAL |
841.937 |
830.011 |
853.427 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
343.729 |
375.887 |
416.948 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
1.415 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.500 |
3.000 |
2.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.100 |
0.085 |
0.170 |
|
Total Non-Current
Assets |
348.744 |
378.972 |
419.618 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
182.944 |
162.878 |
162.572 |
|
(c) Trade
receivables |
211.194 |
205.763 |
206.470 |
|
(d) Cash and
bank balances |
51.092 |
48.603 |
41.868 |
|
(e)
Short-term loans and advances |
47.963 |
33.795 |
22.899 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
493.193 |
451.039 |
433.809 |
|
|
|
|
|
|
TOTAL |
841.937 |
830.011 |
853.427 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1706.382 |
1596.292 |
1553.599 |
|
|
Other Income |
0.048 |
0.204 |
0.001 |
|
|
TOTAL |
1706.430 |
1596.496 |
1553.600 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1348.971 |
1244.015 |
1204.042 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.064) |
2.117 |
3.751 |
|
|
Employee benefit expense |
46.378 |
26.289 |
24.832 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
165.119 |
162.048 |
140.030 |
|
|
Other expenses |
26.363 |
23.842 |
13.903 |
|
|
TOTAL |
1585.767 |
1458.311 |
1386.558 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
120.663 |
138.185 |
167.042 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
36.449 |
49.028 |
55.024 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
84.214 |
89.157 |
112.018 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
53.167 |
56.445 |
81.327 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
31.047 |
32.712 |
30.691 |
|
|
|
|
|
|
|
Less |
TAX |
9.482 |
11.814 |
1.613 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
21.565 |
20.898 |
29.078 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.42 |
5.30 |
7.87 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
90.310 |
76.923 |
76.050 |
|
Net cash flows from (used in) operations |
119.848 |
132.384 |
117.938 |
|
Net cash flows from (used in) operating activities |
111.065 |
124.617 |
112.938 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
45.18 |
47.05 |
48.51 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
8.08 |
7.76 |
7.52 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
40.79 |
36.83 |
33.88 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.66 |
0.85 |
1.03 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.35 |
0.37 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.65 |
0.67 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.70 |
0.97 |
1.36 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.22 |
1.28 |
1.38 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.98 |
1.20 |
1.52 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.31 |
2.82 |
3.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.26 |
1.31 |
1.87 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.56 |
2.52 |
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.12 |
6.68 |
10.59 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
1.12 |
1.14 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.72 |
0.72 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.42 |
0.38 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
6.24 |
7.66 |
10.04 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.15 |
1.12 |
1.14 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in 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 |
37.080 |
39.465 |
39.779 |
|
Reserves & Surplus |
237.380 |
273.545 |
297.308 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
15.540 |
|
Net
worth |
274.460 |
313.010 |
352.627 |
|
|
|
|
|
|
long-term borrowings |
147.545 |
79.035 |
26.702 |
|
Short term borrowings |
148.521 |
146.234 |
131.401 |
|
Current maturities of
long-term debts |
76.050 |
76.923 |
90.310 |
|
Total
borrowings |
372.116 |
302.192 |
248.413 |
|
Debt/Equity
ratio |
1.356 |
0.965 |
0.704 |
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 |
1553.599 |
1596.292 |
1706.382 |
|
|
|
2.748 |
6.897 |
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 |
1553.599 |
1596.292 |
1706.382 |
|
Profit/ (Loss) |
29.078 |
20.898 |
21.565 |
|
1.87
% |
1.31
% |
1.26
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
Litigations that the firm/promoter
involved in |
-- |
|
32] |
Market information |
-- |
|
33] |
Payments terms |
No |
|
34] |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 119, Mahavir Industrial Estate, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India to the present address.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term Borrowings |
|
|
|
Loans repayable on demand from others |
24.769 |
3.113 |
|
Total |
24.769 |
3.113 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G77118057 |
100155019 |
KOTAK MAHINDRA BANK LIMITED |
30/01/2018 |
- |
350000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
2 |
G05951124 |
100033900 |
HDFC BANK LIMITED |
08/06/2016 |
- |
800000.0 |
HDFC BANK LIMITED, HDFC Bank House,Senapati Bapat Marg, Lower Parel WestMumbaiMH400013IN |
|
3 |
C70092705 |
10602734 |
HDFC BANK LIMITED |
14/09/2015 |
- |
1517000.0 |
HDFC Bank House, Senapati Bapat Marg,Lower Parel WestMumbaiMH400013IN |
|
4 |
C70093059 |
10602465 |
HDFC BANK LIMITED |
11/09/2015 |
- |
805000.0 |
HDFC Bank House, Senapati Bapat MargLower Parel WestMumbaiMH400013IN |
|
5 |
C48861439 |
10558759 |
KOTAK MAHINDRA PRIME LIMITED |
26/07/2014 |
- |
994000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
6 |
C35915370 |
10341578 |
State Bank of India |
21/02/2012 |
10/11/2014 |
635600000.0 |
Commercial Branch Ahmedabad, Paramsiddhi complex,Nr. Mahakant Building, Ellisbridge,AhmedabadGJ380006IN |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
·
Office equipment
·
Computer equipment’s
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 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 65.06 |
|
UK Pound |
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·