|
|
|
MIRA INFORM REPORT
|
Report No. : |
504728 |
|
Report Date : |
21.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT BORON DERIVATIVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Synergy House – II, Gowra-Subhanpura Road, Subhanpura, Vadodara – 390023, Gujarat |
|
Tel. No.: |
91-265-2284002/ 2284007 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
25.11.1988 |
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|
|
|
Com. Reg. No.: |
04-011552 |
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|
|
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Capital Investment
/ Paid-up Capital : |
INR 1.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1988PTC011552 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0890004439 |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACG6865E |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Boron
Products such as boric acid and related chemicals and importer of raw
material. (Registered Activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
185 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 210000 |
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|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject was
incorporated in the year 1988 and it is a manufacturer and exporter of boron
products such as boric acid and related chemicals. As per
financials of March 2017, the company has registered decline in its revenue as
compared to its previous year’s revenue and has reported average profit
margin. Rating
takes into consideration the company’s established track record of business
operations marked by sound net worth base along with comfortable debt
coverage indicators and decent liquidity position. Further,
the company has reported a good earnings per share of INR 45.00 against its
face value of INR 10. However,
rating strength partially offset by vulnerability of its operating margins to
volatility in raw material prices and intense competition from organized and
unorganized players in the industry. Payments
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 21.04.2018
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. Sheetal Jagtap |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9825037853 |
|
Date : |
20.04.2018 |
LOCATIONS
|
Registered Office : |
Synergy House – II, Gowra-Subhanpura Road, Subhanpura, Vadodara – 390023, Gujarat, India |
|
Tel. No.: |
91-265-2284002/ 2284007 |
|
Mobile No.: |
91-9825037853 (Mr. Shetal Jagtap) |
|
Fax No.: |
91-265-2284008 |
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E-Mail : |
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|
Website : |
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|
Area : |
8000 sq. ft. |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory : |
Pratappura Halol, Panchmahal - 389350, Gujarat, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Kishor Amritlal Shah |
|
Designation : |
Director |
|
Address : |
A 3, Neha Apartment R C Dutt Road, Alkapuri, Vadodara-390007, Gujarat, India |
|
Date of Birth/Age : |
30.10.1950 |
|
Date of Appointment : |
28.11.1988 |
|
DIN No.: |
00918674 |
|
|
|
|
Name : |
Mr. Kamlesh Kantilal Shah |
|
Designation : |
Director |
|
Address : |
8/B, Varsha Soc Ajwa Road, Vadodara, Gujarat, India |
|
Date of Birth/Age : |
30.10.1950 |
|
Date of Appointment : |
01.01.2002 |
|
DIN No.: |
00838969 |
|
|
|
|
Name : |
Mr. Bhavin Kishor Shah |
|
Designation : |
Director |
|
Address : |
3 A, Neha Apartment, R C Dutt Road, Alkapuri, Vadodara-390007, Gujarat, India |
|
Date of Appointment : |
10.10.2014 |
|
DIN No.: |
00918559 |
KEY EXECUTIVES
|
Name : |
Mr. Sheetal Jagtap |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Kishor Amritlal Shah |
116000 |
72.50 |
|
Meena Kishor Shah |
44000 |
27.50 |
|
Total |
160000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
72.50 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
27.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturer, Exporter and Importer of
Boron Products such as boric acid and related chemicals and importer of raw material.
(Registered Activity and also Confirmed by management) |
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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 : |
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Products : |
Finished Goods |
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Countries : |
United States of America |
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Imports : |
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Products : |
Raw material |
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Countries : |
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Terms : |
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Selling : |
Advance Payment and Credit (30 Days) |
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Purchasing : |
Advance Payment and Credit (30 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, End Users, Manufacturer
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No. of Employees : |
185 (Approximately) |
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Bankers : |
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Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Prachit Jamdar and Company Chartered Accountants |
|
Address : |
406,407, Ivory Terrce, Near sav Shanti hotel, Alkapuri, R. C.
Dutt Road, Vadodara-390007, Gujarat, India |
|
Tel. No.: |
91-265-2435407 |
|
Mobile No.: |
91-9825187822 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AASFP6532G |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Company/Enterprise in which KMP/Relative of KMP exercise significant
influence : |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
INR 10/- each |
INR 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160000 |
Equity Shares |
INR 10/- each |
INR 1.600 Million |
|
|
|
|
|
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 |
1.600 |
1.600 |
1.600 |
|
(b) Reserves &
Surplus |
71.668 |
66.442 |
56.983 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
73.268 |
68.042 |
58.583 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
51.668 |
36.129 |
47.713 |
|
(b) Trade payables |
22.148 |
16.124 |
10.617 |
|
(c) Other current
liabilities |
7.339 |
7.406 |
11.821 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
81.155 |
59.659 |
70.151 |
|
|
|
|
|
|
TOTAL |
154.423 |
127.701 |
128.734 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
16.242 |
18.262 |
18.546 |
|
(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 |
0.161 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.197 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
16.242 |
18.262 |
18.904 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
40.152 |
30.576 |
35.350 |
|
(c) Trade receivables |
63.166 |
63.436 |
44.621 |
|
(d) Cash and cash
equivalents |
18.095 |
1.202 |
19.667 |
|
(e) Short-term loans and
advances |
16.288 |
13.867 |
10.192 |
|
(f) Other current assets |
0.480 |
0.358 |
0.000 |
|
Total Current Assets |
138.181 |
109.439 |
109.830 |
|
|
|
|
|
|
TOTAL |
154.423 |
127.701 |
128.734 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
297.100 |
309.910 |
316.357 |
|
|
Other Income |
0.741 |
1.407 |
1.014 |
|
|
TOTAL |
297.841 |
311.317 |
317.371 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
207.427 |
226.913 |
225.184 |
|
|
Purchases of
Stock-in-Trade |
6.484 |
8.519 |
14.499 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
5.752 |
(12.950) |
(5.040) |
|
|
Employees benefits
expense |
11.438 |
10.634 |
10.384 |
|
|
Other expenses |
47.628 |
49.625 |
45.897 |
|
|
TOTAL |
278.729 |
282.741 |
290.924 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
19.112 |
28.576 |
26.447 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
5.371 |
5.749 |
3.407 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
13.741 |
22.827 |
23.040 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.950 |
3.225 |
3.476 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
10.791 |
19.602 |
19.564 |
|
|
|
|
|
|
|
Less |
TAX |
3.619 |
6.156 |
6.879 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
7.172 |
13.446 |
12.685 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
55.675 |
48.216 |
42.346 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer
to General Reserve |
1.117 |
2.136 |
2.000 |
|
|
Dividend |
1.600 |
3.200 |
4.000 |
|
|
Tax
on Dividend |
0.329 |
0.651 |
0.815 |
|
|
Balance Carried to the
B/S |
59.801 |
55.675 |
48.216 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
15.872 |
675.250 |
20.963 |
|
|
TOTAL EARNINGS |
15.872 |
675.250 |
20.963 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
201.313 |
140.836 |
115.593 |
|
|
TOTAL IMPORTS |
201.313 |
140.836 |
115.593 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
45.00 |
84.00 |
79.00 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
410.000 (Due to market
fluctuation) |
The above information has been parted by Mr. Sheetal Jagtap
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 |
13.091 |
10.562 |
30.353 |
|
Net cash flows from (used in) operating activity |
6.156 |
4.017 |
23.583 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
77.60 |
74.71 |
51.48 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.70 |
4.89 |
7.09 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
37.79 |
25.00 |
16.17 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.48 |
0.93 |
0.75 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.18 |
1.56 |
1.43 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.53 |
0.47 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.71 |
0.53 |
0.81 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.11 |
0.88 |
1.20 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.22 |
0.27 |
0.32 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.56 |
4.97 |
7.76 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.41 |
4.34 |
4.01 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.64 |
10.53 |
9.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
9.79 |
19.76 |
21.65 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.70 |
1.83 |
1.57 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.21 |
1.32 |
1.06 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.47 |
0.53 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
32.29 |
22.58 |
29.82 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.70 |
1.83 |
1.57 |
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 |
1.600 |
1.600 |
1.600 |
|
Reserves & Surplus |
56.983 |
66.442 |
71.668 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
58.583 |
68.042 |
73.268 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
47.713 |
36.129 |
51.668 |
|
Total
borrowings |
47.713 |
36.129 |
51.668 |
|
Debt/Equity
ratio |
0.814 |
0.531 |
0.705 |
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
|
316.357 |
309.910 |
297.100 |
|
|
|
(2.038) |
(4.133) |
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
|
316.357 |
309.910 |
297.100 |
|
Profit |
12.685 |
13.446 |
7.172 |
|
|
4.01% |
4.34% |
2.41% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
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% |
Yes |
|
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 |
Yes |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from related parties |
6.215 |
10.175 |
|
Total |
6.215 |
10.175 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
A39615018 |
10105459 |
BANK OF BARODA |
31/05/2008 |
- |
- |
5000000.0 |
HALOL
BRANCHHALOLHALOLGJ391510IN |
|
2 |
A77385235 |
10071693 |
BANK OF BARODA |
21/09/2007 |
29/12/2009 |
- |
52000000.0 |
HALOLDIST. PANCHMAHALSHALOLGJ391510IN |
|
3 |
B06001044 |
10070737 |
BANK OF BARODA |
30/08/2007 |
20/01/2011 |
- |
54250000.0 |
HALOL,DIST.
PANCHMAHALHALOLGJ391510IN |
|
4 |
Y10198816 |
90109124 |
BANK OF BARODA |
02/04/1994 |
15/04/1999 |
- |
9284000.0 |
OPP. S.P. DEPOTHALOLGJ389350IN |
|
5 |
Y10198253 |
90108561 |
BANK OF BARODA |
16/05/1989 |
16/12/2004 |
- |
3060000.0 |
OPP. S.P.
DEPOTHALOLGJ389350IN |
|
6 |
B77538031 |
10166167 |
AXIS BANK LIMITED |
01/07/2009 |
- |
06/06/2013 |
900000.0 |
2ND FLOOR, VARDHAMAN
COMPLEX,BESIDES PIZZA HUT, RACE COURSEVADODARAGJ390007IN |
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
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 66.02 |
|
|
1 |
INR 92.73 |
|
Euro |
1 |
INR 81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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.