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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

504678

Report Date :

20.04.2018

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

NIRA LIFE SCIENCES PRIVATE LIMITED

 

 

Registered Office :

House No. 12B/06706, Street No. 21, Brahmaniya Para, Near Radhika Print, Pedak Road, Rajkot – 360003, Gujarat

Tel. No.:

91-2751-240480

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

03.02.2012

 

 

Com. Reg. No.:

04-068865

 

 

Capital Investment / Paid-up Capital :

INR 6.500 Million

 

 

CIN No.:

[Company Identification No.]

U24230GJ2012PTC068865

 

 

TIN No.:

24091806292

 

 

IEC No.:

[Import-Export Code No.]

2413012265

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RKTN01793B

 

 

PAN No.:

[Permanent Account No.]

AADCN8827A

 

 

GSTN :

[Goods & Service Tax Registration No.]

24AADCN8827A1ZP

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :
  • Manufacturing of Drugs and Intermediaries (Registered activity) (As on 31.03.2017)

 

  • Manufacturer, Exporter and Importer of Pharmaceutical Ingredients. (Confirmed by management)

 

 

No. of Employees :

45 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Maximum Credit Limit :

USD 4000

 

 

Status :

Moderate 

 

 

Payment Behaviour :

Slow and delayed

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2012 and it is a manufacturer of drugs and intermediates.

 

For the financial year 2017, the company has achieved growth of 75.70% as compared to the previous year but has reported a low profit margin of 0.22%.

 

The moderate financial risk profile of the company is marked by negative reserves base along with poor debt balance sheet profile.

 

Payment seems to be slow and delayed.

 

In view of aforesaid, the company can be considered for business dealings with great 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

 

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

 

 

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 20.04.2018

 

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 PARTED BY

 

Name :

Mr. Vishal Kesavlal Shankhavara

Designation :

Director

Contact No.:

91-9924781287

Date :

19.04.2018

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

House No. 12B/06706, Street No. 21, Brahmaniya Para, Near Radhika Print, Pedak Road, Rajkot – 360003, Gujarat, India

Tel. No.:

91-2751-240480

Mobile No.:

91-9924781287 (Mr. Vishal Kesavlal Shankhavara)

Fax No.:

91-2751-240490

E-Mail :

niralifesciences@gmail.com

Website :

http://www.niralifesciences.com

Location :

Owned

Locality :

Industrial

 

 

Factory 2 :

Plot No. 6 to 9, GIDC, Bamanbore, Behind Diamond Tools, Taluka Chotila, District Surendranagar - 363520, Gujarat, India

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Dr. Suresh Devjibhai Sorathiya

Designation :

Director

Address :

Tirth, Plot No. 3, Arjun Park, Nana Mava Road, Rajkot - 360005, Gujarat, India

Date of Birth/Age :

21.04.1971

Date of Appointment :

03.02.2012

DIN No.:

03507209

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U85100GJ2012PTC069720

ENDOC LIFECARE PRIVATE LIMITED

20/09/2012

-

U24233GJ2013PTC077965

SNJ LABS PRIVATE LIMITED

19/12/2013

-

 

 

Name :

Mr. Kishorbhai Tulsibhai Sorathiya

Designation :

Director

Address :

Sliver Stone, Plot No.17, Opposite Oscar Tower, 150 Feet Ring Road, Rajkot - 360005, Gujarat, India

Date of Birth/Age :

28.08.1978

Date of Appointment :

03.02.2012

DIN No.:

05176452

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U28999GJ2013PTC073739

NEON CABLES PRIVATE LIMITED

26/02/2013

-

U17291GJ2013PTC076952

SKYWIN SPINNING PRIVATE LIMITED

24/09/2013

-

 

 

Name :

Dr. Vishal Kesavlal Shankhavara

Designation :

Director

Address :

21, Brahmaniya Para, Near Radhika Print, Pedak Road, Rajkot - 360003, Gujarat, India

Date of Birth/Age :

06.08.1980

Date of Appointment :

03.02.2012

DIN No.:

05176454

 

 

Name :

Mr. Mahendra Govindbhai Ranparia

Designation :

Director

Address :

At: Sajadiyali Ta: Jam Kandorana, Sajadiyali, District Rajkot - 360405, Gujarat, India

Date of Birth/Age :

13.07.1983

Date of Appointment :

03.02.2012

DIN No.:

05185602

 

 

Name :

Mrs. Ranjanben Sureshbhai Sorathiya

Designation :

Director

Address :

Tirth, Plot No. 3, Arjun Park, Nana Mava Road, Rajkot - 360005, Gujarat, India

Date of Birth/Age :

10.06.1976

Date of Appointment :

03.02.2012

DIN No.:

05185606

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U85100GJ2012PTC069720

ENDOC LIFECARE PRIVATE LIMITED

30/06/2012

-

U24233GJ2013PTC077965

SNJ LABS PRIVATE LIMITED

19/12/2013

-

 

 

Name :

Mr. Ghanshyam Govindbhai Harsoda

Designation :

Director

Address :

34 B, Street No 4 Corner, Shree Nehru Nagar, Co-operative Society, Housing Society Limited, Rajkot - 360003, Gujarat, India

Date of Birth/Age :

01.09.1962

Date of Appointment :

03.02.2012

DIN No.:

05186829

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2017

 

Names of Shareholders

No. of Shares

%age holding

Suresh Devjibhai Sorathiya

65000

10.00

Vishal Kesavlal Shankhavara

136500

21.00

Ghanshyam Govindbhai Harsoda

91000

14.00

Mahendra Govindbhai Ranparia

78000

12.00

Kishorbhai Tulsibhai Sorathiya

65000

10.00

Ranjanben Sureshbhai Sorathiya

123500

19.00

Jigneshbhai R. Sorathiya

16250

2.50

Dhirubhai R. Sorathiya

16250

2.50

Anjana N. Sorathiya

19500

3.00

Shanta N. Sorathiya

6500

1.00

Ashokbhai A. Halvadia

32500

5.00

 

 

 

Total

650000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 25.08.2017

 

Category

Percentage

Promoter – (Individual/ Hindu Undivided Family – Indian)

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :
  • Manufacturing of Drugs and Intermediaries (Registered activity) (As on 31.03.2017)

 

  • Manufacturer, Exporter and Importer of Pharmaceutical Ingredients. (Confirmed by management)

 

 

Products :

Item Code No.

Product Description

29420033

Manufacturing of Drugs and Intermediaries

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Countries :
  • Pakistan
  • Bangladesh

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash, L/C, Credit (30 Days)

 

 

Purchasing :

Cash, L/C, Credit (30 Days)

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Deepak Nitrate Limited, Gujarat, India

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

  • Mankind Pharma Limited
  • Dhalkot Industries
  • ECO Safe Containers
  • EMCO Dyestuff Private Limited
  • Jay Overseas Private Limited
  • Mahavir Chemicals
  • Pharmache
  • Shanker Traders
  • Siddhivinayak Trading Co.
  • Veeraj International LLP
  • Viena Chemicals
  • Vinayak Enterprise

 

 

Customers :

Wholesalers, Retailers and End Users

 

Reference :

Neptune Chemicals and Research Labs

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

  • Dayaram Chemicals, Ankleshwar
  • Franklin Laboratories (India) Private Limited
  • Pragati Raw Pharma Private Limited
  • Deepen Drugs
  • Relax Pharmaceuticals Private Limited
  • Sapphire Lifesciences Private Limited
  • Gujarat Terce Laboratories Limited
  • Pharma Supply Agencies

 

 

No. of Employees :

45 (Approximately)

 

 

Bankers :

Bank Name

Corporation Bank

Branch

1st Floor, Shop No. 101, Gayatri Commercial Centre, Kalawad Road, Opposite Parimal School, Rajkot – 360001, Gujarat, India

Person Name (With Designation)

--

Contact Number

91-281-2589790

Name of Account Holder

Nira Life Science Private Limited

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

Mr. Sachin (Chief Manager) denied to provide information to any third party.

 

Bank Name

HDFC Bank Limited

Branch

Ranchod Nagar, Rajkot – 360003, Gujarat, India

Person Name (With Designation)

--

Contact Number

91-9898271111

Name of Account Holder

--

Account Number

16972020001199 (Not confirmed)

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

Mr. Sachin (Chief Manager) denied to provide information to any third party.

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Corporation Bank – Term Loan A/c TLS01160001

3.870

5.029

Corporation Bank – Term Loan A/c 130012

(Primarily Secured by hypothecation of machinery and collaterally secured by factory land and building)

0.910

2.567

 

 

 

Short-term borrowings

 

 

Corporation Bank – CC (1140002)

4.876

10.227

(Primarily Secured by hypothecation of machinery and collaterally secured by factory land and building)

 

 

 

 

 

Total

9.656

17.823

 

Auditors :

 

Name :

H B Hirapara and Company

Chartered Accountants

Address 1 :

209-210, Lotus Arcade, Opposite Bajaj Automative, Gondal Road, Rajkot – 360002, Gujarat, India

Address 2 :

New Kedarnath SO, Street No 1, Kothariya Road, Rajkot – 360002, Gujarat, India

Tel. No.:

91-281-2468870

E-Mail :

hbhirapara@yahoo.co.in

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

AAYPH0768G

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

650000

Equity Shares

INR 10/- each

INR 6.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

650000

Equity Shares

INR 10/- each

INR 6.500 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

6.500

6.500

6.500

(b) Reserves & Surplus

(5.019)

(5.199)

(4.081)

(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)

1.481

1.301

2.419

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

44.647

46.213

34.575

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(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)

44.647

46.213

34.575

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4.876

10.227

10.269

(b) Trade payables

11.423

7.159

2.164

(c) Other current liabilities

4.065

3.565

1.862

(d) Short-term provisions

0.413

0.194

0.114

Total Current Liabilities (4)

20.777

21.145

14.409

 

 

 

 

TOTAL

66.905

68.659

51.403

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

24.724

29.323

24.342

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1.338

0.160

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)

2.243

2.323

0.135

(d)  Long-term Loan and Advances

1.668

0.301

0.300

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

29.973

32.107

24.777

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

8.520

14.297

12.964

(c) Trade receivables

21.110

8.331

6.000

(d) Cash and cash equivalents

0.599

5.550

1.182

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

6.703

8.374

6.480

Total Current Assets

36.932

36.552

26.626

 

 

 

 

TOTAL

66.905

68.659

51.403

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

81.354

46.304

25.555

 

Other Income

0.800

0.591

0.275

 

TOTAL

82.154

46.895

25.830

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

58.236

37.268

27.317

 

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

5.244

(2.291)

(7.384)

 

Employees benefits expense

1.655

1.330

0.794

 

Other expenses

9.957

7.729

3.196

 

TOTAL

75.092

44.036

23.923

 

 

 

 

 

 

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

7.062

2.859

1.907

 

 

 

 

 

Less

FINANCIAL EXPENSES

1.884

1.827

1.776

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

5.178

1.032

0.131

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

4.917

4.338

4.348

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

0.261

(3.306)

(4.217)

 

 

 

 

 

Less

TAX

0.080

(2.188)

(0.135)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

0.181

(1.118)

(4.082)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(5.200)

(4.082)

0.000

 

 

 

 

 

 

 

 

 

 

 

Balance Carried to the B/S

(5.019)

(5.200)

(4.082)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

0.28

(1.72)

(6.28)

 

 

Particulars

 

 

 

31.03.2018

Sales Turnover (Approximately)

 

 

140.000

 

 

(Due to business growth)

 

Expected Sales (2018-2019) : INR 250.000 Million (Approximately)

 

The above information has been parted by Mr. Vishal Kesavlal Shankhavara (Director)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

2.820

2.820

1.584

Cash generated from operations

0.932

3.606

(0.407)

Net cash flow from operating activity

0.932

3.606

(0.407)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

94.71

65.67

85.70

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

3.85

5.56

4.26

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

71.59

70.11

28.91

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.83

0.20

0.15

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.27

0.10

0.08

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

1.02

1.02

0.98

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

35.34

45.55

19.19

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

14.03

16.25

5.96

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

17.60

22.66

10.06

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

3.75

1.56

1.07

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.22

(2.41)

(15.97)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.27

(1.63)

(7.94)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

12.22

(85.93)

(168.75)

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.78

1.73

1.85

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.37

1.05

0.95

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.02

0.02

0.05

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

8.05

9.12

7.14

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.78

1.73

1.85

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

6.500

6.500

6.500

Reserves & Surplus

(4.081)

(5.199)

(5.019)

Net worth

2.419

1.301

1.481

 

 

 

 

Long Term borrowings

34.575

46.213

44.647

Short Term borrowings

10.269

10.227

4.876

Current Maturities of Long term debt

1.584

2.820

2.820

Total borrowings

46.428

59.260

52.343

Debt/Equity ratio

19.193

45.550

35.343

 

 

 

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

25.555

46.304

81.354

 

 

81.194

75.695

 

 

 

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

25.555

46.304

81.354

Profit / (Loss)

(4.082)

(1.118)

0.181

 

(15.97%)

(2.41%)

0.22%

 

 

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

Yes

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%

Yes

28

Estimation for coming financial year

Yes

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

 

 

 

PERFORMANCE REVIEW AND STATE OF COMPANY'S AFFAIRS AND FUTURE OUTLOOK

 

The company has earned revenue from Operations of INR 82.154 Million as compared to overall Revenue from Operations of INR 46.895 Million of previous year. Likewise, profit/(loss) before depreciation was INR 5.178 Million as compared to that of previous year of INR 1.032 Million Net profit/(loss) after taxation was INR 1.181 Million as compared to INR (1.118) Million of previous year. The directors expect further increase in sales and profitability of the company in the year to come.

 

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

From Shareholders, Directors and their relatives 

39.867

38.617

 

 

 

Total

39.867

38.617

 

INDEX OF CHARGES:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G69781623

10453854

Corporation Bank

20/09/2013

17/11/2017

-

78804000.0

1st Floor, Shop No. 101, Gayatri Commercial Centre, Kalawad Road, Opposite Parimal School, Rajkot – 360001, Gujarat, India

 

 

FIXED ASSETS

 

·         Bicycle

·         Computer

·         CCTV Camera

·         Factory Building

·         Fan

·         Fire Extinguisher

·         Lab Instrument

·         Land

·         Laptop

·         Plant and Machinery

·         Printer

·         Software

·         Vajan Kata

·         Submersible Pump

·         Electrification

 

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 65.78

UK Pound

1

INR 93.42

Euro

1

INR 81.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

PON

 

 

Analysis Done by :

PRY

 

 

Report Prepared by :

KJL

 

 

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

NO

--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)

 

 

 

 

 

 

 

 

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

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