MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

505567

Report Date :

25.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

RECKITT BENCKISER HEALTHCARE INDIA PRIVATE LIMITED (w.e.f. 15.05.2015)

 

 

Formerly Known As :

RECKITT BENCKISER HEALTHCARE INDIA LIMITED (w.e.f. 12.06.2012)

 

PARAS PHARMACEUTICALS LIMITED

 

 

Registered Office :

Plot No. 48, Institutional Area, Sector-32, Gurugram-122001, Haryana

Tel. No.:

91-124-4028000/ 3319000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

27.11.1980

 

 

Com. Reg. No.:

05-044172

 

 

Capital Investment / Paid-up Capital :

INR 90.909 Million

 

 

CIN No.:

[Company Identification No.]

U24231HR1980PTC066876

 

 

IEC No.:

[Import-Export Code No.]

0898002184

 

 

GSTN :

[Goods & Service Tax Registration No.]

06AAACP9268J1Z0

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACP9268J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into manufacturing and selling of healthcare products which includes ointment, powder and tablets and importer of raw material. (Registered activity and also confirmed by management]).

 

 

No. of Employees :

2000 (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+

Low Risk

Business dealings permissible with low risk of default

 

Maximum Credit Limit :

USD 9400000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Reckitt Benckiser Healthcare is a 75:25 joint venture between “Reckitt Benckiser (India) Private Limited, India “ and “Reckitt Benckiser Pte Limited, Singapore”.

It is engaged in manufacturing and selling of healthcare products which ointment, powder and tablets.


For the financial year 2016, the company reported 7.01% top line growth along with a decent profit margin of 32.20%.


The sound financial risk profile of the company is marked by adequate net worth base along with strong debt coverage metrics due to debt free balance sheet profile and good cash balances to meet its working capital needs.


Rating takes into consideration long operational track record of the company, established market position in healthcare industry and strong support it receives from its joint venture entities.


Payment seems to regular.


In view of strong financials, the company can be considered good for business dealings at usual trade terms and conditions.


Note: As per Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. 

 

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 25.04.2018.

 

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 (GENERAL DETAILS)

 

Name :

Mr. Avanish

Designation :

Purchase Head

Contact No.:

91-9999928896

Date :

23.04.2018

 

 

LOCATIONS

 

Registered Office / Corporate Office :

Plot No. 48, Institutional Area, Sector-32, Gurugram-122001, Haryana, India

Tel. No.:

91-124-4028000/ 3319000

Mobile No.:

91-9999928896 (Mr. Avanish)

Fax No.:

91-124-4340110

E-Mail :

legal.india@rb.com

Website :

http://www.paraspharma.com

Location :

Owned

Locality :

Industrial

 

 

Factory 1 :

Plot 1/7, GIDC Estate, Kalol, District Mehsana, Gujarat, India

Location :

Owned

 

 

Factory 2:

Khasra No. 701, 534, Baddi Nalagarh Road, Post Office Baddi, Village Sandholi, Baddi - 173205, Himachal Pradesh, India

Tel. No.:

91-1795-245572 / 245573/666000

Location :

Owned

                                                         

 

 

 

DIRECTORS

 

AS ON 31.03.2018

 

Name :

Mr. Rajesh Kumar Jha

Designation :

Director

Address :

C-3, 3164, Vasant Kunj, New Delhi - 110070, India

Date of Birth/Age :

30.06.1968

Qualification :

LLB

Date of Appointment :

31.01.2013

DIN No.:

02695721

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24239MH1997PTC111897

RECKITT PIRAMAL PRIVATE LIMITED

27/05/2010

-

U24232TN1994PTC048002

RECKITT BENCKISER SCHOLL INDIA PRIVATE LIMITED

03/10/2011

-

U74999DL1951PTC309785

RECKITT BENCKISER (INDIA) PRIVATE LIMITED

02/01/2012

-

U65993HR2011PTC042069

RECKITT BENCKISER INVESTMENTS INDIA PRIVATE LIMITED

28/03/2011

-

 

 

Name :

Mr. Anupam Jain

Designation :

Director

Address :

A-104/105,Himalayan Heights,Bhakti Park, Near Imax Big Cinemas, Wadala (East), Bpt Colony S, O. Antop Hil, Mumbai-400037, Maharashtra, India

Date of Appointment :

14.09.2016

DIN No.:

07455135

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24239MH1997PTC111897

RECKITT PIRAMAL PRIVATE LIMITED

01/01/2018

-

U24232TN1994PTC048002

RECKITT BENCKISER SCHOLL INDIA PRIVATE LIMITED

30/09/2016

-

U74999DL1951PTC309785

RECKITT BENCKISER (INDIA) PRIVATE LIMITED

14/09/2016

-

 

 

Name :

Mr. Sriram Venkatasubramanian

Designation :

Additional Director

Address :

1 Hamsika, 154-A, Garodia Nagar, Ghatkopar (East), Mumbai-400077, Maharashtra, India

Date of Appointment :

28.02.2018

DIN No.:

08062588

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24232TN1994PTC048002

RECKITT BENCKISER SCHOLL INDIA PRIVATE LIMITED

28/02/2018

-

U74999DL1951PTC309785

RECKITT BENCKISER (INDIA) PRIVATE LIMITED

28/02/2018

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Manoj Singh Bisht

Designation :

Company Secretary

Address :

20B, Janta Flats Vasant Enclave, New Delhi-110057, India

Date of Appointment :

29.09.2016

PAN No.:

ALTPB3904E

 

                        

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

                

Names of Shareholders

No. of Shares

Reckitt Benckiser India Private Limited, India

9090900

Chander Mohan Sethi

1

Parag Agarwal

1

Suvamoy Roy Choudhary

1

Rajesh Kumar Jha

1

Ajay Thukral

1

Sarita William

1

R and C Nominees Limited

(Declaration under section 187C of the companies act, 1956 filed with the company, beneficial holding rests in favour of Reckitt Benckiser (Singapore) Pte. Limited)

10

Total

9090916

 

 

AS ON 30.09.2017

 

Equity Share Break up

Percentage

Category

 

 

Promoters - Bodies corporate

100.00

Total

100.00

 

                        

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into manufacturing and selling of healthcare products which includes ointment, powder and tablets and importer of raw material. (Registered activity and also confirmed by management]).

 

 

Products / Services :

Item Code No. (ITC Code)

Product Description

30049011

Medicaments of Ayurvedic system

 

NIC Code No.

Product Description

210

Manufacturing of Pharmaceutical

products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • United Arab Emirates
  • United States of America
  • Germany
  • Sri Lanka
  • South Africa

 

 

Imports :

 

Products :

Raw Material

Countries :
  • United Arab Emirates
  • United States of America
  • Germany
  • Sri Lanka
  • South Africa

 

 

Terms :

 

Selling :

Others (NEFT/RTGS/Via Bank Only)

 

 

Purchasing :

Others (NEFT/RTGS/Via Bank Only)

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

Customers :

Wholesalers, Retailers, End Users and Manufacturer

 

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

No. of Employees :

2000 (Approximately)

 

 

Bankers :

Bank Name

Not Divulged

Branch

--

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants

Address :

Building 8, 7th and 8th Floor, Tower B, DLF Cyber City, Gurugram - 122002, Haryana, India

PAN No.:

AAEFP3641G

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

(As on 2017)
  • Reckitt Benckiser (India) Private Limited

             CIN No.: U74999GJ1951PTC092452

 

 

Subsidiary Companies :

(As on 2017)
  • Paras Overseas Holding Limited (UAE)
  • Paras Inc. (USA)
  • Paras Global FZE (UAE)

 

 

Holding Company :

(As on 31.03.2016)
  • Reckitt Benckiser (India) Private Limited

             CIN No.: U74999GJ1951PTC092452

 

 

Subsidiary Companies :

(As on 31.03.2016)
  • Paras Overseas Holding Limited (UAE)
  • Paras Inc. (USA)

 

 

Step-down Subsidiary Company :

(As on 31.03.2016)
  • Paras Global FZE (UAE)

 

 

Ultimate Holding Companies :

(As on 31.03.2016)
  • Reckitt Benckiser Group Plc, UK
  • Intermediary Holding Company
  • Reckitt Benckiser Plc, UK

 

 

Fellow Subsidiary Companies :

(As on 31.03.2016)
  • Reckitt Benckiser Arabia Fze, UAE
  • Reckitt Benckiser Pakistan Limited
  • Reckitt Benckiser (Bangladesh) Limited
  • Reckitt Benckiser South Africa (Pty) Limited
  • Reckitt Benckiser Healthcare (UK) Limited
  • Reckitt Benckiser USA (2013) LLC
  • Reckitt Benckiser Chartres SAS
  • Reckitt Benckiser Nordic A/S, Denmark
  • Reckitt Benckiser (Belgium) SA/NV
  • Reckitt Benckiser Deutschland GmbH, Germany
  • Reckitt Benckiser (Espana) S.L.
  • Reckitt Benckiser (Poland) SA
  • Reckitt Benckiser Corporate Services Limited
  • Reckitt Benckiser Healthcare Mfg. (Thailand) Limited
  • Reckitt Benckiser Healthcare International Limited (UK)
  • Reckitt Benckiser (Brands) Limited
  • Reckitt Benckiser (Ena) B.V., Netherlands
  • Lrc Products Limited
  • Reckitt Benckiser Healthcare Sa, Spain
  • Reckitt Benckiser Tatabanya Kft.,Hungary
  • PT Reckitt Benckiser Indonesia
  • Reckitt Benckiser Japan Limited
  • Reckitt Benckiser (Malaysia) Sdn. Bhd.
  • SSL Healthcare (Thailand) Limited
  • Reckitt Benckiser Temizlik Malzemesi Sanayi VE Ticaret A.S., Turkey
  • Reckitt Benckiser (Near East) Limited, Israel
  • Reckitt Benckiser Hong Kong Limited
  • Reckitt Benckiser Scholl India Private Limited

             CIN No.: U24232TN1994PTC048002

  • Reckitt Benckiser Bharain W.L.L
  • Reckitt Benckiser (Brasil) LTDA
  • Reckitt Benckiser (RUMEA) Limited
  • Reckitt Benckiser France SAS
  • Enterprises which exercise significant influence on the company
  • Reckitt Benckiser (Singapore) Pte. Limited (w.e.f 16th September 2014)
  • Reckitt Benckiser India Private Limited (till 16th September 2014)

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

35000000

Equity Shares

INR 10/- each

INR 350.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9090916

Equity Shares

INR 10/- each

INR 90.909 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2016

31.03.2015

31.03.2014

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

90.909

90.909

90.909

(b) Reserves & Surplus

32937.637

31095.433

29927.972

(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)

33028.546

31186.342

30018.881

 

 

 

 

(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

81.697

78.023

74.290

Total Non-current Liabilities (3)

81.697

78.023

74.290

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

2137.389

1659.073

1011.676

(c) Other current liabilities

75.332

58.460

41.820

(d) Short-term provisions

268.424

52.042

238.346

Total Current Liabilities (4)

2481.145

1769.575

1291.842

 

 

 

 

TOTAL

35591.388

33033.940

31385.013

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1060.619

1107.028

1126.022

(ii) Intangible Assets

26476.485

26476.485

26476.540

(iii) Capital work-in-progress

86.510

78.901

51.125

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

99.741

99.941

106.508

(c) Deferred tax assets (net)

0.000

0.000

13.308

(d)  Long-term Loan and Advances

65.754

17.903

15.380

(e) Other Non-current assets

1.710

1.712

1.712

Total Non-Current Assets

27790.819

27781.970

27790.595

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

274.795

380.055

345.223

(c) Trade receivables

2908.171

1640.491

660.087

(d) Cash and cash equivalents

3961.169

2519.891

2412.567

(e) Short-term loans and advances

641.948

693.682

167.087

(f) Other current assets

14.486

17.851

9.454

Total Current Assets

7800.569

5251.970

3594.418

 

 

 

 

TOTAL

35591.388

33033.940

31385.013

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

Income

5721.265

5346.545

5338.008

 

Other Income

285.566

267.064

445.471

 

TOTAL

6006.831

5613.609

5783.479

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1736.693

1706.682

1933.901

 

Purchases of Stock-in-Trade

347.946

425.081

508.761

 

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

18.572

16.505

(50.963)

 

Employees benefits expense

283.537

264.037

279.069

 

CSR expenditure

28.375

0.000

0.000

 

Other expenses

1050.451

929.028

1229.698

 

TOTAL

3465.574

3341.333

3900.466

 

 

 

 

 

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

2541.257

2272.276

1883.013

 

 

 

 

 

Less

FINANCIAL EXPENSES

0.010

3.728

0.007

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

2541.247

2268.548

1883.006

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

187.157

139.501

183.095

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2354.090

2129.047

1699.911

 

 

 

 

 

Less

TAX

511.886

429.790

426.058

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

1842.204

1699.257

1273.853

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

943.718

1252.183

1130.082

 

Earnings on royalty

28.369

25.289

24.117

 

Earnings on other income

29.353

48.468

0.000

 

TOTAL EARNINGS

1001.440

1325.940

1154.199

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

117.565

232.193

223.617

 

Capital Goods

14.355

42.240

40.285

 

TOTAL IMPORTS

131.920

274.433

263.902

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

202.64

186.92

140.12

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

NA

NA

NA

Net cash flows from (used in) operations

1766.836

1082.719

1539.996

Net cash flows from (used in) operating activities

1441.874

635.744

1283.052

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365)

185.53

111.99

45.14

 

 

 

 

Account Receivables Turnover

(Income / Sunday Debtors)

1.97

3.26

8.09

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

374.24

284.07

151.17

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

9.25

5.98

5.45

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.09

0.08

0.07

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.07

0.05

0.04

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.00

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.08

0.06

0.04

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.84

0.89

0.92

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

254125.70

609.52

269001.86

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

Net Profit Margin [(PAT / Sales) * 100]

%

32.20

31.78

23.86

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

5.18

5.14

4.06

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

5.58

5.45

4.24

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

3.14

2.97

2.78

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

3.03

2.75

2.52

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.93

0.94

0.96

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.00

0.00

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

3.14

2.97

2.78

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

31.03.2014

31.03.2015

31.03.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Share Capital

90.909

90.909

90.909

Reserves & Surplus

29927.972

31095.433

32937.637

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

30018.881

31186.342

33028.546

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

31.03.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Sales

5338.008

5346.545

5721.265

 

 

0.160

7.009

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

31.03.2016

 

(INR In Million)

(INR In Million)

(INR In Million)

Sales

5338.008

5346.545

5721.265

Profit/ (Loss)

1273.853

1699.257

1842.204

 

23.86%

31.78%

32.20%

 

 

LEGAL CASE

 

http://54.234.29.250/ferretops/mirascreenshots/5add8bb9d4e376617d00012d5add8d01d4e37607ea02ef23.jpg

 

 

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

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

21

Banking facility details

No

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

No

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

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 304, 3rd Floor, Shopper's Plaza-5, NR.5, Government Society, C. G. Road, Navrangpura, Ahemdabad-380009, Gujarat, India to the present address.

 

INDEX OF CHARGE:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

B56288020

80018704

IDBI Bank Limited

25/11/1997

28/02/2009

01/08/2012

500000000.0

IDBI Complex, Opposite Municipal Staff Quarters, Near Lal Bunglow, Off. C.G. Road, Ahmedabad-380006, Gujarat, India

2

A20820833

90100091

INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED

10/08/2005

28/11/2006

18/08/2007

250000000.0

IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India

 

 

CONTINGENT LIABILITIES:

 

(INR in million)

PARTICULARS

31.03.2016

31.03.2015

Claims against company not acknowledged as debt

587.652

587.652

Guarantees

15.000

15.000

Total

602.652

602.652

 

 

FIXED ASSETS:

 

Tangible Asset:

  • Land
  • Building
  • Plant and equipment
  • Furniture and Fixture
  • Computer equipments
  • Vehicles

 

Intangible Asset:

  • Computer Software

 

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 66.36

UK Pound

1

INR 92.51

Euro

1

INR 81.05

 

 

INFORMATION DETAILS

 

Information Gathered by :

RUB

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

BHG

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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)

 

 

 

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.