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|
MIRA INFORM REPORT
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Report No. : |
505180 |
|
Report Date : |
23.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
CREATIVE PLASTICS LIMITED (w.e.f. 20.03.2018) |
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Formerly Known
As : |
CREATIVE PLASTICS PRIVATE LIMITED |
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Registered
Office : |
112, 11th Floor, Jolly Maker Apartment No.3, Cuffe Parade,
Mumbai – 400005, Maharashtra |
|
Tel. No.: |
91-22-40780000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
09.05.1985 |
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Com. Reg. No.: |
11-036170 |
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Capital
Investment / Paid-up Capital : |
INR 2.055 Million |
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|
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CIN No.: [Company Identification
No.] |
U25200MH1985PLC036170 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACC1826F1Z2 |
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TIN / CST No.: |
27790350799 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC1826F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer
of plastic articles for the packing of goods (plastic bags, sacks,
containers, boxes, cases, carboys, bottles etc.). [Registered Activity] |
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No. of Employees
: |
Information denied 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 260000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1985 having fine track record. It
is engaged as manufacturer
of plastic articles for the packing of goods (plastic bags, sacks,
containers, boxes, cases, carboys, bottles etc.). For the financial year 2017, the company has achieved decent growth in
its revenue as compared to its previous year along with fair profit margin
during the year. Rating takes into consideration, the healthy financial risk profile
marked by adequate networth base and strong debt protection metrics. Rating continue to derive strength from its long and established track
record of its business operation backed by its well-experienced management
team. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealing
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 |
EXTERNAL AGENCY RATING
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 23.04.2018
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
Management Non-Cooperative (91-22-40780000 / 9867739950)
LOCATIONS
|
Registered Office : |
112, 11th Floor, Jolly Maker Apartment No.3, Cuffe Parade,
Mumbai – 400005, Maharashtra, India |
|
Tel. No.: |
91-22-40780000 |
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Fax No.: |
91-22-40780023 |
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E-Mail : |
anita@creativeplasticindia.com
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Website : |
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Head Office : |
501/512, Embassy Centre, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Branch Office : |
85, Bank of India Building, 3rd Floor, Zaveri Bazaar, Mumbai – 400002, Maharashtra, India |
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Tel. No.: |
91-22-23443354 / 23443207 |
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Fax No.: |
91-22-23412922 |
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Factory : |
G-3/8, MIDC Industrial Area, Tarapur, Boisar, Thane –
400506, Maharashtra, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Ramkrishan Hukamchand Agarwal |
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|
Designation : |
Director |
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Address : |
51, Jolly Maker Apartment No.3, 5th Floor,
Cuffe Parade, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
15.11.1939 |
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Date of Appointment : |
09.05.1985 |
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DIN No.: |
00361667 |
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Name : |
Mrs. Pushpalata Kailashchand Agarwal |
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Designation : |
Director |
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|
Address : |
112, Jolly Maker Apartment No.3, Cuffe Parade, Mumbai –
400005, Maharashtra, India |
||||||||
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Date of Birth/Age : |
28.01.1958 |
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Date of Appointment : |
02.04.2014 |
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DIN No.: |
06875896 |
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Other Directorship:
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Name : |
Ruchika Vikas Agarwal |
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Designation : |
Director |
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Address : |
501, Embassy Centre, 5th Floor, Nariman Point, Mumbai –
400021, Maharashtra, India |
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Date of Birth/Age : |
22.07.1980 |
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Date of Appointment : |
13.12.2017 |
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DIN No.: |
08007303 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Ramkrishan Hukamchand Agarwal |
3214 |
|
Pushpalata Kailashchand Agarwal |
2500 |
|
Ritesh Agarwal |
2000 |
|
Omprakash Agarwal |
2473 |
|
Vinodkumar Agarwal |
2000 |
|
Pankaj Agarwal |
1401 |
|
Madhurie Agarwal |
750 |
|
Kailashchand Agarwal |
4210 |
|
Vinaykumar Agarwal |
10 |
|
Vidyadevi Agarwal |
1 |
|
Shraddha Agarwal |
1990 |
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|
|
|
Total |
20549 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of plastic articles for the packing of goods (plastic bags, sacks, containers,
boxes, cases, carboys, bottles etc.). [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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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|
Name : |
Shankarlal Jain and Associates LLP Chartered Accountants |
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Address : |
12, Engineer Building, 265 Princess Street, Mumbai – 400002, Maharashtra,
India |
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Tel. No.: |
91-22-22036623 / 22065739 |
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Fax No.: |
91-22-22086269 |
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E-Mail : |
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Website : |
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PAN No.: |
AACFS6967Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related party : |
·
Creative Technoplast |
CAPITAL STRUCTURE
AS ON 20.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
INR 100/- each |
INR 2.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20549 |
Equity Shares |
INR 100/- each |
INR 2.055 Million |
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|
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 |
2.055 |
2.055 |
2.055 |
|
(b) Reserves & Surplus |
87.319 |
76.636 |
70.640 |
|
(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) |
89.374 |
78.691 |
72.695 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
45.000 |
98.587 |
70.000 |
|
(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) |
45.000 |
98.587 |
70.000 |
|
|
|
|
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|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
2.505 |
1.354 |
1.629 |
|
(c) Other
current liabilities |
1.226 |
1.049 |
1.106 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
3.731 |
2.403 |
2.735 |
|
|
|
|
|
|
TOTAL |
138.105 |
179.681 |
145.430 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
10.246 |
10.353 |
13.972 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.681 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.255 |
0.255 |
0.255 |
|
(c) Deferred tax assets (net) |
0.498 |
0.725 |
0.785 |
|
(d)
Long-term Loan and Advances |
1.219 |
1.641 |
1.102 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
12.218 |
13.655 |
16.114 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
7.954 |
7.357 |
8.265 |
|
(c) Trade receivables |
8.126 |
13.544 |
13.478 |
|
(d) Cash
and cash equivalents |
6.454 |
3.772 |
6.552 |
|
(e)
Short-term loans and advances |
103.202 |
141.229 |
100.896 |
|
(f) Other
current assets |
0.151 |
0.124 |
0.125 |
|
Total
Current Assets |
125.887 |
166.026 |
129.316 |
|
|
|
|
|
|
TOTAL |
138.105 |
179.681 |
145.430 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
76.546 |
58.549 |
131.646 |
|
|
|
Other Income |
25.285 |
16.673 |
7.401 |
|
|
|
TOTAL |
101.831 |
75.222 |
139.047 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
33.137 |
24.244 |
59.211 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and stock-in-trade |
(0.642) |
0.431 |
(0.163) |
|
|
|
Manufacturing expenses |
27.475 |
20.666 |
43.371 |
|
|
|
Employee Benefits Expenses |
11.340 |
11.046 |
9.133 |
|
|
|
Other Expenses |
4.355 |
3.528 |
5.203 |
|
|
|
TOTAL |
75.665 |
59.915 |
116.755 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
26.166 |
15.307 |
22.292 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.140 |
5.129 |
1.606 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
17.026 |
10.178 |
20.686 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.959 |
1.563 |
1.996 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
16.067 |
8.615 |
18.690 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.384 |
2.619 |
5.893 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
10.683 |
5.996 |
12.797 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
519.86 |
291.77 |
622.77 |
|
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 |
45.199 |
(41.231) |
(71.322) |
|
Net cash flow / (used) from operating activity |
40.436 |
(44.093) |
(77.299) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
38.75 |
84.43 |
37.37 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
9.42 |
4.32 |
9.77 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
27.59 |
20.38 |
10.04 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
3.29 |
2.08 |
2.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.55 |
1.39 |
1.60 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.35 |
0.56 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.50 |
1.25 |
0.96 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.04 |
0.03 |
0.04 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.11 |
0.14 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.86 |
2.98 |
13.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
13.96 |
10.24 |
9.72 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.74 |
3.34 |
8.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.95 |
7.62 |
17.60 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
33.74 |
69.09 |
47.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
31.61 |
66.03 |
44.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.65 |
0.44 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
21.90 |
47.97 |
34.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
33.74 |
69.09 |
47.28 |
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 |
2.055 |
2.055 |
2.055 |
|
Reserves & Surplus |
70.640 |
76.636 |
87.319 |
|
Net
worth |
72.695 |
78.691 |
89.374 |
|
|
|
|
|
|
Long Term borrowings |
70.000 |
98.587 |
45.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
70.000 |
98.587 |
45.000 |
|
Debt/Equity
ratio |
0.963 |
1.253 |
0.504 |
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
|
131.646 |
58.549 |
76.546 |
|
|
|
(55.525) |
30.738 |
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
|
131.646 |
58.549 |
76.546 |
|
Profit/(Loss) |
12.797 |
5.996 |
10.683 |
|
|
9.72% |
10.24% |
13.96% |
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 |
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 |
STATE OF AFFAIRS OF
THE COMPANY
During the year, the gross revenue of the company has increased from INR
75.222 million (2105-16) to INR 101.831 million (2016-17) and net profit of the
company has increased from INR 5.996 million (2015-16) to INR 10.683 million
(2016-17). Barring unforeseen circumstances the directors are hopeful for the
better performance during the current year.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Pushpalata Kailashchand Agarwal |
45.000 |
98.587 |
|
|
|
|
|
Total |
45.000 |
98.587 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B63141329 |
90214062 |
BANK OF MAHARASHTRA |
17/03/2004 |
15/11/2009 |
08/11/2012 |
5000000.0 |
85 ' E' MAKER TOWER, GR. FLOOR, CUFFE PARADE, MUMBAI MH400005IN |
|
2 |
B63137905 |
10263948 |
BANK OF MAHARASHTRA |
15/01/2011 |
- |
08/11/2012 |
5000000.0 |
85 ' E' MAKER TOWER ,GR. FLOOR, CUFFE PARADE, MUMBAI MH400005IN |
|
3 |
Y10314045 |
90212146 |
BANK OF MAHARASHTRA |
31/01/1991 |
- |
06/07/2004 |
1000000.0 |
CUFFE PARADE BRANCHMAKER TOWER BOMBAY MH400005IN |
|
4 |
Y10313607 |
90211708 |
BANK OF MAHARASHTRA |
19/11/1987 |
- |
17/09/1999 |
500000.0 |
CUFFE PARADE BRANCHMAKER TOWER BOMBAY MH400005IN |
|
5 |
Y10317819 |
90215920 |
THE STATE INDUSTRIAL & INVESTMENT CORPORATION OF MAHARASHTRA |
27/02/1987 |
30/09/1993 |
12/08/1999 |
3950000.0 |
NIRMAL; 1ST FLOORNARIMAN POINT BOMBAY MH400021IN |
FIXED ASSETS:
·
Land
·
Factory Building
·
Residential Flat
·
Office Premises
·
Plant and Machinery
·
Moulds and Dies
·
Telephone
·
Electrical Installation
·
Office Equipment
·
Air Conditioner
·
Refrigerator
·
Lab Equipment
·
Computer
·
Television and Electrical
Equipment
·
Furniture and Fixture
·
Motor Car
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 : |
AKS |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKT |
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.