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|
MIRA INFORM REPORT
|
Report No. : |
506099 |
|
Report Date : |
28.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
CHARU AGROPLAST PRIVATE LIMITED (w.e.f. 07.10.2003) |
|
|
|
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Formerly Known
As : |
CHARU COLD STORAGE PRIVATE LIMITED |
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Registered
Office : |
Village Gram Nawda Panth, Dhar Road, Near MPEB Grid and Umiya Tol
Kanta Highway, NH-59, Indore – 453001, Madhya Pradesh |
|
Mobile No.: |
91-7773016000 (Mr. Nitesh Jain) |
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|
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.02.2000 |
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Com. Reg. No.: |
10-014074 |
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Capital
Investment / Paid-up Capital : |
INR 10.000 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U63022MP2000PTC014074 |
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|
|
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN / CST No.: |
23349058403 |
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GSTN : [Goods & Service Tax
Registration No.] |
23AABCC7439F1ZW |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCC7439F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Multilayer Films and Wrap Knit Fabric. [Registered activity and also
confirmed by management] |
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No. of Employees
: |
55 (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 220000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2000. It is a manufacturer of
multilayer films. For the financial year 2017, the company has reported a decline in its
revenue as compared to the previous year but has managed to maintain an
average profit margin of 2.20%. The satisfactory financial risk profile of the company is marked by
adequate net worth base along with comfortable debt balance sheet profile and
favourable gap between its payable and receivables. Payment seems to be slow but 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 |
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 28.04.2018.
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. Nitesh Jain |
|
Designation : |
Director |
|
Contact No.: |
91-7773016000 |
|
Date : |
26.04.2018 |
LOCATIONS
|
Registered Office / Factory: |
Village Gram Nawda Panth, Dhar Road, Near MPEB Grid and Umiya Tol
Kanta Highway, NH-59, Indore – 453001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-2895489 |
|
Mobile No.: |
91-7773016000 (Mr. Nitesh Jain) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Nitesh Jain |
|
Designation : |
Director |
|
Address : |
97, Gumasta Nagar, Indore - 452007, Madhya Pradesh, India |
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Date of Birth/Age : |
27.06.1981 |
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Date of Appointment : |
30.01.2004 |
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DIN No.: |
00010342 |
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|
|
|
Name : |
Mr. Manoj Kumar Jain |
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Designation : |
Director |
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Address : |
97, Gumasta Nagar, Indore - 452007, Madhya Pradesh, India |
|
Date of Birth/Age : |
08.10.1968 |
|
Date of Appointment : |
30.01.2004 |
|
DIN No.: |
00010356 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Suraj Jain |
|
17400 |
|
Sarla Jain |
|
141400 |
|
Pratibha Jain |
|
36400 |
|
Meenal Jain |
|
71400 |
|
Kiran Jain |
|
15000 |
|
Rajendra Jain |
|
1250 |
|
Ashok Kumar Jain HUF |
|
26250 |
|
Ashok Kumar Jain |
|
1250 |
|
Indermal Jain |
|
250 |
|
Manoj Kumar Jain HUF |
|
26250 |
|
Manoj Kumar Jain |
|
1250 |
|
Nitesh Kumar Jain |
|
26250 |
|
Rajendra Kumar Jain HUF |
|
26250 |
|
Lodha Holding Private Limited |
|
461000 |
|
Priti Jain |
|
21400 |
|
Rajesh Banthiya |
|
250 |
|
Meena Jain |
|
250 |
|
Monika Jain |
|
250 |
|
Pushpa Jain |
|
250 |
|
Vallabh Agritrade Private Limited |
|
90000 |
|
Nabaria Holding Private Limited |
|
36000 |
|
Total |
|
1000000 |
AS ON 30.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
39.06 |
|
Promoters - Bodies corporate |
46.10 |
|
Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
2.24 |
|
Public/Other than promoters - Bodies corporate |
12.60 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Multilayer Films and Wrap Knit Fabric. [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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Advance Payment, L/C, Cheque and Credit (90 Days), Others (NEFT/RTGS) |
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Purchasing : |
Advance Payment, L/C, Cheque and Credit (90 Days), Others (NEFT/RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
55 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Ankush L Jain and Company Chartered Accountants |
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Address : |
105-106, City Palace, Kalakhet, Gautam Nagar, Mandsaur-458001, Madhya
Pradesh, India |
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Tel. No.: |
91-7422-221381 |
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Mobile No.: |
91-9827388833 |
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PAN No.: |
AAVFA9709R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises under significant influence of key management personnel or
their relatives : |
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Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
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|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves &
Surplus |
66.837 |
57.655 |
49.638 |
|
(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) |
76.837 |
67.655 |
59.638 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
31.955 |
54.124 |
62.894 |
|
(b) Deferred tax
liabilities (Net) |
5.858 |
6.324 |
6.016 |
|
(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) |
37.813 |
60.448 |
68.910 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
49.380 |
37.104 |
41.284 |
|
(b) Trade payables |
19.698 |
8.640 |
15.160 |
|
(c) Other current
liabilities |
16.210 |
12.032 |
16.768 |
|
(d) Short-term provisions |
2.409 |
0.705 |
0.000 |
|
Total Current Liabilities
(4) |
87.697 |
58.481 |
73.212 |
|
|
|
|
|
|
TOTAL |
202.347 |
186.584 |
201.760 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
59.298 |
62.054 |
68.058 |
|
(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 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.467 |
3.724 |
3.741 |
|
(e) Other Non-current
assets |
17.486 |
1.511 |
3.840 |
|
Total Non-Current Assets |
80.251 |
67.289 |
75.639 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
47.034 |
69.076 |
65.766 |
|
(c) Trade receivables |
62.761 |
42.069 |
50.782 |
|
(d) Cash and cash
equivalents |
3.196 |
1.669 |
1.416 |
|
(e) Short-term loans and
advances |
8.184 |
5.481 |
7.590 |
|
(f) Other current assets |
0.921 |
1.000 |
0.567 |
|
Total Current Assets |
122.096 |
119.295 |
126.121 |
|
|
|
|
|
|
TOTAL |
202.347 |
186.584 |
201.760 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
417.860 |
457.560 |
360.272 |
|
|
Other Income |
5.537 |
3.149 |
0.890 |
|
|
TOTAL |
423.397 |
460.709 |
361.162 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
335.457 |
389.393 |
284.535 |
|
|
Purchases of
Stock-in-Trade |
7.319 |
1.397 |
19.013 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
8.710 |
(0.980) |
(2.919) |
|
|
Employees benefits
expense |
6.139 |
6.109 |
6.037 |
|
|
Prior period items |
(0.003) |
0.003 |
0.028 |
|
|
Other expenses |
34.108 |
31.985 |
27.355 |
|
|
TOTAL |
391.730 |
427.907 |
334.049 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
31.667 |
32.802 |
27.113 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
7.571 |
12.290 |
12.742 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
24.096 |
20.512 |
14.371 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
9.266 |
8.331 |
8.305 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
14.830 |
12.181 |
6.066 |
|
|
|
|
|
|
|
Less |
TAX |
5.648 |
4.164 |
1.465 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
9.182 |
8.017 |
4.601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials and
packaging materials |
10.939 |
34.527 |
33.035 |
|
|
Capital Goods |
2.333 |
0.000 |
8.201 |
|
|
TOTAL IMPORTS |
13.272 |
34.527 |
41.236 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
9.18 |
8.02 |
4.60 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
5.103 |
5.394 |
8.264 |
|
Cash generated from operations |
37.120 |
27.644 |
16.325 |
|
Net cash flow from (used in) operating activities |
41.208 |
27.644 |
15.416 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
54.82 |
33.56 |
51.45 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
6.66 |
10.88 |
7.09 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
20.98 |
8.07 |
18.23 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.67 |
0.47 |
0.41 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.53 |
0.53 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.62 |
0.63 |
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.12 |
1.43 |
1.89 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.14 |
0.86 |
1.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.77 |
0.92 |
1.14 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.18 |
2.67 |
2.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
2.20 |
1.75 |
1.28 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.54 |
4.30 |
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.95 |
11.85 |
7.71 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.39 |
2.04 |
1.72 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.86 |
0.86 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.38 |
0.36 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
8.64 |
9.66 |
11.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.39 |
2.04 |
1.72 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
49.638 |
57.655 |
66.837 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
59.638 |
67.655 |
76.837 |
|
|
|
|
|
|
Long-term borrowings |
62.894 |
54.124 |
31.955 |
|
Short term borrowings |
41.284 |
37.104 |
49.380 |
|
Current Maturities of
Long term debt |
8.264 |
5.394 |
5.103 |
|
Total borrowings |
112.442 |
96.622 |
86.438 |
|
Debt/Equity ratio |
1.885 |
1.428 |
1.125 |
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 |
360.272 |
457.560 |
417.860 |
|
|
|
27.004 |
(8.676) |
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 |
360.272 |
457.560 |
417.860 |
|
Profit |
4.601 |
8.017 |
9.182 |
|
|
1.28% |
1.75% |
2.20% |
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) |
No |
|
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% |
-- |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from M-76 New Siyaganj, Malgodam Road, Indore-452001, Madhya Pradesh,
India to the present address w.e.f.04.05.2009.
CORPORATE
INFORMATION
The company was incorporated on 29th February, 2000 at Indore, India.
The company is engaged in manufacturing of Multilayer Films and Wrap Knit
Fabric.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
From others |
|
|
|
From directors and relatives |
14.591 |
17.040 |
|
From share holders |
3.868 |
14.405 |
|
Inter corporate deposits |
9.093 |
13.221 |
|
Total |
27.552 |
44.666 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G47543392 |
100108257 |
KOTAK MAHINDRA BANK LIMITED |
30/03/2017 |
- |
- |
300000000.0 |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
2 |
G43103050 |
100072274 |
KOTAK MAHINDRA BANK LIMITED |
03/08/2016 |
20/04/2017 |
- |
129000000.0 |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
3 |
G04368478 |
10380695 |
Axis Bank Limited |
06/09/2012 |
24/03/2015 |
26/05/2016 |
120000000.0 |
SME Centre, 2nd Floor, Kamal Palace, 1 Yashwant Colony, Y N Road, Indore-452003, Madhya Pradesh, India |
|
4 |
B57870875 |
80026219 |
Oriental Bank Of Commerce |
14/09/2004 |
02/09/2011 |
18/09/2012 |
64900000.0 |
12/2, Chetak Centre, RNT Marg, Indore-452001, Madhya Pradesh, India |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
|
Bank guarantee |
10.000 |
|
Total |
10.000 |
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Electrical
Installation
- Furniture and
Fixture
- Office
equipment
- Computer
- Vehicles
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 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
BHG |
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.