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|
MIRA INFORM REPORT
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Report No. : |
490094 |
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Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
FINAR LIMITED (w.e.f. 29.08.2012) |
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Formerly Known
As : |
FINAR CHEMICALS LIMITED (w.e.f.
24.11.2005) FINAR CHEMICALS (INDIA) PRIVATE LIMITED |
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Registered
Office : |
1406, Shapath V, S.G. Highway, Ahmedabad – 380015, Gujarat |
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Tel. No.: |
91-79-26400027 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
02.09.1998 |
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Com. Reg. No.: |
04-034615 |
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Capital
Investment / Paid-up Capital : |
INR 120.000 Million |
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CIN No.: [Company Identification
No.] |
U24231GJ1998PLC034615 |
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IEC No.: |
0800005465 |
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TIN No.: |
24074600627 |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACF3217D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of chemical substances used in the manufacturing of pharmaceuticals. (Registered Activity) |
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No. of Employees
: |
Information declined 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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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Finar Limited was incorporated in the year 1998. It is manufacturer of chemical substances used in the manufacturing of pharmaceuticals. For the financial year 2017, the revenue of the company has increased by 17.89% along with fair profit margin of 6.13%. The sound financial profile of the company is marked by adequate networth base along with negligible debt level. The rating takes into consideration the subject’s long track record of business operations along with extension of its promoters. However, rating strengths are partially offset by its modest scale and working capital intensive nature of operations in a highly fragmented and competitive chemical industry and exposure of its profitability to foreign exchange fluctuations. Business is active. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
27.04.2017 |
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Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A3+ |
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Rating Explanation |
Moderate degree of safety and higher credit risk |
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Date |
27.04.2017 |
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
31-03-2016.
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 05.02.2018
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 BY
|
Name : |
Mr. Pratik Gandhi |
|
Designation : |
Finance Manager |
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Contact No.: |
91-8980036572 |
|
Date : |
02.02.2018 |
LOCATIONS
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Registered Office : |
1406, Shapath V, S.G. Highway, Ahmedabad – 380015, Gujarat, India |
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Tel. No.: |
91-79-40040085 |
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Mobile No.: |
91-8980036572 (Mr. Pratik Gandhi) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office/
Works: |
184-185-186/P, Village: Chacharwadi-Vasna, Bavla 8 km Milestone, Sarkhej Bavla Highway, Taluka : Sanand, District: Ahmedabad – 382110, Gujarat, India |
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Tel. No.: |
91-2717-616717 |
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Fax No.: |
91-79-26405325 |
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Corporate Office : |
203, 2nd Floor, Hub Town Solaris, N S Phadke Marg, Near
Andheri Bridge, |
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Tel. No.: |
91-22-26848958, 26836324 |
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E-Mail : |
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Stock Points
: |
Central Stock
Point:
Email: csp@finarchemicals.com Gujarat Stock
Point: C/o. M.B. Enterprise1, Ground Floor, Sarkhej - Sanand Cross Road, Sarkhej, Ahmedabad - 382210, Gujarat (India) Phone: +91 - 79 – 26890518 Email: gujarat@finarchemicals.com Bhiwandi Stock
Point:
Email: bhiwandi@finarchemicals.com Hyderabad Stock
Point:
Phone: +91 - 40 – 64504586 Telefax: +91 - 40 – 27152196 Email: hyd@finarchemicals.com Ghaziabad Stock
Point:
Email: gzb@finarchemicals.com |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Amitkumar Rameshbhai Maheshwari |
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Designation : |
Managing Director |
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Address : |
C-1002, Simandhar Towers, Judges Bunglow Road, Bodakdev, Ahmedabad - 380054, Gujarat, India |
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Date of Birth/Age : |
11.03.1978 |
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Qualification: |
MBA |
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PAN No.: |
ACAPM2357A |
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Date of Appointment : |
15.10.2001 |
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DIN No.: |
00472145 |
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Name : |
Mr. Mayank Rasiklal Shah |
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Designation : |
Whole-Time Director |
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Address : |
D/704, Shilalekh, Shahibaug, Ahmedabad - 380004, Gujarat, India |
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Date of Birth/Age : |
23.12.1964 |
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Qualification: |
B.COM |
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Pan: |
AFDPS5624Q |
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Date of Appointment : |
15.10.2001 |
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DIN No.: |
00472334 |
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Name : |
Mr. Girishbhai Purshottamdas Maheshwari |
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Designation : |
Whole-Time Director |
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Address : |
503, Serene, Behind Auda Garden, Prahladnagar, Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
28.01.1960 |
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Qualification: |
B.SC |
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Pan No.: |
ABEPM2731R |
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Date of Appointment : |
02.09.1998 |
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DIN No.: |
00472369 |
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Name : |
Mrs. Lekhaben Maheshwari Girishbhai |
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Designation : |
Whole-Time Director |
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Address : |
503, Serene, Behind Auda Garden, Prahladnagar, Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
07.12.1961 |
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Qualification: |
M.COM, LLB |
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Date of Appointment : |
15.10.2001 |
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Pan |
ABEPM2730Q |
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DIN No.: |
00472386 |
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Name : |
Mrs. Kaajal Oza Vaidya |
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Designation : |
Director |
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Address : |
308, Supar Plaza, Sandesh Press Road, Opposite Anand Hari Tower, Vastrapur, Bodakdev, Ahmedabad-380054, Gujarat, India |
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Date of Birth/Age : |
29.09.1966 |
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Date of Appointment : |
01.01.2016 |
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DIN No.: |
07411858 |
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Name : |
Mr. Parikshit Narendrabhai Boradia |
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Designation : |
Director |
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Address : |
41, Sharnam 7, Chandan Party Plot, Jodhpur Satellite, Ahmedabad-380015, Gujarat, India |
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Date of Appointment : |
05.08.2017 |
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DIN No.: |
07888129 |
KEY EXECUTIVES
|
Name : |
Mrs. Madhaviben Bhaskarbhai Dave |
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Designation : |
Company Secretary |
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Address : |
18, Dreamland Park Society, Behind B.D. Patel House, Naranpura, Ahmedabad - 380013, Gujarat, India |
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Date of Appointment : |
01.05.2016 |
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PAN No.: |
BUAPD2028J |
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Name : |
Mr. Mahendra Premraj Bhansali |
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Designation : |
Chief Financial Officer |
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Address : |
84- Block-E, Tirthdham Apartments, Near Devashish School, Bodakdev, Ahmedabad-380015, Gujarat, India |
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Date of Appointment : |
05.08.2017 |
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PAN No.: |
AAXPB0082E |
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|
Name : |
Mr. Pratik Gandhi |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Girish P. Maheshwari |
|
6000000 |
|
Lekha G. Maheshwari |
|
3157600 |
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Yesha V. Joisar |
|
30300 |
|
Kanika Manprit Juneja |
|
29867 |
|
Mayank R. Shah |
|
24000 |
|
Amit R. Maheshwari |
|
2758100 |
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Nina A. Maheshwari |
|
133 |
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Total |
|
12000000 |
Equity Share Break up (Percentage of Total Equity)
As on 11.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
99.30 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
0.70 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of chemical substances used in the manufacturing of pharmaceuticals. (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 (As on 2016): |
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Facilities : |
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Auditors : |
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Name : |
Talati and Talati Chartered Accountants |
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Address : |
Ambika Chambers, Near Old High Court, Navrangpura, Ahmedabad-380009, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFT4520A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other related party : |
Ociimum Research and Technology Private Limited CIN No.: U73100GJ2011PTC066768 |
CAPITAL STRUCTURE
As on 11.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 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 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
(1)Shareholders' Funds |
|
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|
|
(a) Share Capital |
120.000 |
90.000 |
90.000 |
|
(b) Reserves & Surplus |
229.866 |
195.237 |
166.368 |
|
(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) |
349.866 |
285.237 |
256.368 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
46.963 |
56.984 |
45.636 |
|
(b) Deferred tax liabilities
(Net) |
19.158 |
19.852 |
18.930 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.875 |
2.331 |
1.055 |
|
Total
Non-current Liabilities (3) |
68.996 |
79.167 |
65.621 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
147.055 |
134.330 |
150.896 |
|
(b) Trade payables |
120.057 |
93.981 |
98.465 |
|
(c) Other current liabilities |
58.827 |
42.088 |
38.365 |
|
(d) Short-term provisions |
10.890 |
33.089 |
23.964 |
|
Total
Current Liabilities (4) |
336.829 |
303.488 |
311.690 |
|
|
|
|
|
|
TOTAL |
755.691 |
667.892 |
633.679 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
271.929 |
281.818 |
281.962 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
3.192 |
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 |
82.751 |
44.768 |
6.593 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
357.872 |
326.586 |
288.555 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
111.623 |
104.028 |
121.221 |
|
(c) Trade receivables |
255.342 |
220.380 |
193.749 |
|
(d) Cash and cash equivalents |
25.342 |
5.313 |
17.364 |
|
(e) Short-term loans and
advances |
5.439 |
11.468 |
12.266 |
|
(f) Other current assets |
0.073 |
0.117 |
0.524 |
|
Total
Current Assets |
397.819 |
341.306 |
345.124 |
|
|
|
|
|
|
TOTAL |
755.691 |
667.892 |
633.679 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1052.944 |
893.156 |
902.004 |
|
|
Other Income |
1.580 |
0.674 |
0.964 |
|
|
TOTAL
|
1054.524 |
893.830 |
902.968 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
509.856 |
425.267 |
507.057 |
|
|
Purchases of Stock-in-Trade |
4.513 |
0.750 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
8.086 |
17.865 |
(16.318) |
|
|
Employees benefits expense |
121.864 |
110.965 |
93.367 |
|
|
Expenditure on production,
transportation and other expenditure |
21.621 |
19.548 |
19.509 |
|
|
CSR expenditure |
1.628 |
1.459 |
1.210 |
|
|
Other expenses |
248.495 |
197.546 |
186.937 |
|
|
TOTAL |
916.063 |
773.400 |
791.762 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
138.461 |
120.430 |
111.206 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.310 |
24.609 |
21.815 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
117.151 |
95.821 |
89.391 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
20.570 |
20.010 |
16.115 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
96.581 |
75.811 |
73.276 |
|
|
|
|
|
|
|
Less |
TAX |
31.952 |
25.278 |
24.261 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
64.629 |
50.533 |
49.015 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
5.39 |
4.21 |
5.45 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
15.012 |
14.318 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
157.678 |
95.928 |
87.666 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
88.51 |
90.06 |
78.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.12 |
4.05 |
4.66 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
85.19 |
80.52 |
70.88 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.24 |
1.16 |
0.92 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.50 |
0.43 |
0.39 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.56 |
0.56 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.60 |
0.72 |
0.77 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.96 |
1.06 |
1.22 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.79 |
0.99 |
1.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
6.50 |
4.89 |
5.10 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.14 |
5.66 |
5.43 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.55 |
7.57 |
7.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
18.47 |
17.72 |
19.12 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.18 |
1.12 |
1.11 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.85 |
0.78 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.46 |
0.43 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.74 |
2.28 |
2.18 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.18 |
1.12 |
1.11 |
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 |
90.000 |
90.000 |
120.000 |
|
Reserves & Surplus |
166.368 |
195.237 |
229.866 |
|
Net
worth |
256.368 |
285.237 |
349.866 |
|
|
|
|
|
|
long-term borrowings |
45.636 |
56.984 |
46.963 |
|
Short term borrowings |
150.896 |
134.330 |
147.055 |
|
Total
borrowings |
196.532 |
205.632 |
209.030 |
|
Debt/Equity
ratio |
0.767 |
0.721 |
0.597 |
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 |
902.004 |
893.156 |
1052.944 |
|
|
|
(0.981) |
17.890 |
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 |
902.004 |
893.156 |
1052.944 |
|
Profit |
49.015 |
50.533 |
64.629 |
|
|
5.43% |
5.66% |
6.14% |
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 |
Yes |
|
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 |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
28.260 |
34.256 |
|
Total |
28.260 |
34.256 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
A57366973 |
10143763 |
HDFC BANK LIMITED |
29/01/2009 |
- |
288000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG LOWER PAREL W MUMBAI MAHARASHTRA 400013 INDIA |
|
2 |
G29508447 |
80007283 |
CORPORATION BANK |
24/11/2000 |
01/12/2016 |
277400000.0 |
INDUSTRIAL FINANCE BRANCH, 1ST FLOOR RANGOLI COMPLEX, OPPOSITE V. S. HOSPITAL, ELLISBRIDGE, AHMEDABAD GUJARAT 380006 INDIA |
|
3 |
G29510161 |
80007282 |
CORPORATION BANK |
12/09/2000 |
01/12/2016 |
277400000.0 |
INDUSTRIAL FINANCE BRANCH, 1ST FLOOR RANGOLI COMPLEX, OPPOSITE V. S. HOSPITAL, ELLISBRIDGE, AHMEDABAD GUJARAT 380006 INDIA |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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 records 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 64.08 |
|
UK Pound |
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·