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|
MIRA
INFORM REPORT
|
Report No. : |
490114 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SOPAN PAPER MILL PRIVATE LIMITED [w.e.f.23.12.2014] |
|
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|
Formerly Known
As : |
RAISON CERAMIC PRIVATE LIMITED |
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Registered
Office : |
Survey No. 225P1, B/H Tita Sanitary, Near Tita Chowkdi, Sartanpar -
Matel Road, Matel, Wankaner, Rajkot-363622, Gujarat |
|
Tel. No.: |
91-2822-220010 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
|
Date of
Incorporation : |
20.05.2014 |
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Com. Reg. No.: |
04-079562 |
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Capital
Investment / Paid-up Capital : |
INR 48.900 Million |
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CIN No.: [Company Identification
No.] |
U21098GJ2014PTC079562 |
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GST No.: |
24AAGCR9273B1ZE |
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IEC No.: |
Not Divulged |
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TIN No.: |
24092202008 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAGCR9273B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Paper and Paper Rolls. [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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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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 2014 and it is a manufacturer of
Kraft Paper. As per financials of March 2017, the company has registered healthy
growth in its revenue and reported minimal profit margin. Rating takes into consideration the company’s limited track record of business
operations marked by moderate financial risk profile along with negative
reserves and unfavourable gap between trade payables to its trade
receivables. Rating is further constrained on account of its presence in highly
fragmented paper industry and susceptibility of operating margins to
volatility in prices and waste paper. However, rating weakness is partially offset by promoters experience
and locational advantage in terms of ease in selling goods at an effective
cost due to its proximity to the market place. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some cautions. |
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 Rating = B+ |
|
Rating Explanation |
Risk-prone-credit quality and carries very
high credit risk. |
|
Date |
27.09.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
27.09.2017 |
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 DECLINED BY
|
Name : |
Mr. Vipulbhai Laljibhai Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9825037836 |
|
Date : |
02.02.2018 |
MANAGEMENT NON-COOPERATIVE [91-2822-220010]
LOCATIONS
|
Registered Office : |
Survey No. 225P1, B/H Tita Sanitary, Near Tita Chowkdi, Sartanpar -
Matel Road, Matel, Wankaner, Rajkot-363622, Gujarat, India |
|
Tel. No.: |
91-2822-220010 |
|
Mobile No.: |
91-9825037836 [Mr. Vipulbhai Laljibhai Patel] |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
|
|
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Postal Address : |
“ANMOL”, 21, New Adarsh Society, Opposite Adarsh School, Sanala Road,
Morbi – 363641, Gujarat, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sanjubhai Sundarjibhai Patel |
|
Designation : |
Director |
|
Address : |
Flat No. 601, Geetanjali Appartment, Avenue Park, Ravapar Road, Morbi 363641, Gujarat, India |
|
Date of Birth/Age : |
24.06.1989 |
|
Date of Appointment : |
20.05.2014 |
|
DIN No.: |
02871162 |
|
|
|
|
Name : |
Mr. Vipulbhai Laljibhai Patel |
|
Designation : |
Director |
|
Address : |
Flat No. 501, Chankya Apartment, Sanala Road, Morbi 363641, Gujarat, India |
|
Date of Birth/Age : |
02.11.1984 |
|
Date of Appointment : |
20.05.2014 |
|
DIN No.: |
06858818 |
|
|
|
|
Name : |
Mr. Anmol Rameshbhai Raiyani |
|
Designation : |
Director |
|
Address : |
"Anmol", Block No. 21, New Adarsh Society, Opp. Adarsh School, Sanala Road, Morbi 363641, Gujarat, India |
|
Date of Birth/Age : |
31.12.1993 |
|
Date of Appointment : |
20.05.2014 |
|
DIN No.: |
06858831 |
|
|
|
|
Name : |
Mr. Sagar Sundarjibhai Patel |
|
Designation : |
Director |
|
Address : |
601, Gitanjali Appartment, Avenue Park, Ravapar Road, Morbi 363641, Gujarat, India |
|
Date of Appointment : |
24.03.2015 |
|
DIN No.: |
07031211 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 03.08.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Paper and Paper Rolls. [Registered Activity] |
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Products : |
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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 : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2017)
|
|
(Qty.
in Mts.) |
|
Registered Capacity |
NA |
|
Installed Capacity |
30000.000 |
|
Actual Production |
23824.540 |
GENERAL INFORMATION
|
Suppliers : |
· Anup Enterprises · Hi Tech Machinery Works · Marko Steamjet Private Limited · Rajat Logistics · Somnath Enterprise · Gujarat Logistics · Anmol Tradelink · M.S. Paper |
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Customers : |
· Abhilasha Packaging Solution · Aum Print Pack Industries · Avani Packaging · Balaji Packaging · Colors Packaging · Daksh Pack Print · Dev Paper Tube Sales · Hem Packaging |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
K.R. Maheta and Associates Chartered Accountants |
|
Address : |
200, JE Bhagwan Complex, Ram Chowk, Savsar Plot Main Road, Morbi
363641, Gujarat, India |
|
Mob. No.: |
91-9428264229 |
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PAN No.: |
CCSPM1119G |
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|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties : |
· Amrutsaroj Investment and Estate Private Limited · IZ Share Broking Services Private Limited · Orange Business Process Management Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
INR 10/- each |
INR 55.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4890000 |
Equity Shares |
INR 10/- each |
INR 48.900 Million |
|
|
|
|
|
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 |
48.900 |
42.500 |
36.260 |
|
(b) Reserves & Surplus |
(1.718) |
(5.718) |
0.000 |
|
(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) |
47.182 |
36.782 |
36.260 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
79.409 |
92.035 |
3.175 |
|
(b) Deferred tax liabilities (Net) |
2.117 |
2.032 |
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) |
81.526 |
94.067 |
3.175 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
45.718 |
19.546 |
0.000 |
|
(b)
Trade payables |
87.706 |
52.996 |
0.000 |
|
(c)
Other current liabilities |
14.979 |
14.214 |
9.652 |
|
(d)
Short-term provisions |
1.025 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
149.428 |
86.756 |
9.652 |
|
|
|
|
|
|
TOTAL |
278.136 |
217.605 |
49.087 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
95.334 |
104.014 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
40.552 |
|
(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 |
0.110 |
0.110 |
1.632 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.898 |
|
Total
Non-Current Assets |
95.444 |
104.124 |
43.082 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
47.986 |
23.165 |
0.000 |
|
(c)
Trade receivables |
129.669 |
77.204 |
0.000 |
|
(d)
Cash and cash equivalents |
0.549 |
1.455 |
1.390 |
|
(e)
Short-term loans and advances |
4.336 |
11.629 |
4.615 |
|
(f)
Other current assets |
0.152 |
0.028 |
0.000 |
|
Total
Current Assets |
182.692 |
113.481 |
6.005 |
|
|
|
|
|
|
TOTAL |
278.136 |
217.605 |
49.087 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
536.962 |
221.038 |
|
|
|
Other Income |
|
0.310 |
0.294 |
|
|
|
TOTAL (A) |
|
537.272 |
221.332 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
392.146 |
156.684 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(2.818) |
(1.756) |
|
|
|
Employees benefits expense |
|
8.465 |
2.328 |
|
|
|
Other expenses |
|
103.080 |
50.868 |
|
|
|
TOTAL (B) |
|
500.873 |
208.124 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
36.399 |
13.208 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
17.357 |
8.129 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
19.042 |
5.079 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
13.933 |
8.764 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
5.109 |
(3.685) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
1.109 |
2.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
4.000 |
(5.718) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(INR) |
|
0.82 |
(1.35) |
|
Note: The Company has
started Commercial Production w.e.f.20.08.2015 hence Profit and Loss Account
for the year 31.03.2015 is not applicable.
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
State Bank of India Term Loan A/c |
11.832 |
8.874 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
(15.143) |
(48.129) |
(3.897) |
|
|
|
|
|
|
Net Cash flow from Operating activities |
(15.143) |
(48.129) |
(3.897) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
88.14 |
127.49 |
NA |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.14 |
2.86 |
NA |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
81.63 |
123.46 |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.76 |
0.57 |
NA |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.38 |
0.13 |
NA |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.87 |
0.86 |
0.26 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.90 |
3.27 |
0.09 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.17 |
2.36 |
0.27 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.02 |
2.83 |
1.12 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.10 |
1.62 |
NA |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.74 |
(2.59) |
NA |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.44 |
(2.63) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.48 |
(15.55) |
NA |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.22 |
1.31 |
0.62 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.90 |
1.04 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.17 |
0.17 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.80 |
2.83 |
0.09 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.22 |
1.31 |
0.62 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
36.260 |
42.500 |
48.900 |
|
Reserves & Surplus |
0.000 |
(5.718) |
(1.718) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
36.260 |
36.782 |
47.182 |
|
|
|
|
|
|
long-term borrowings |
3.175 |
92.035 |
79.409 |
|
Short term borrowings |
0.000 |
19.546 |
45.718 |
|
Current Maturities of Long term debt |
0.000 |
8.874 |
11.832 |
|
Total
borrowings |
3.175 |
120.455 |
136.959 |
|
Debt/Equity ratio |
0.088 |
3.275 |
2.903 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
221.038 |
536.962 |
|
|
|
142.927 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
221.038 |
536.962 |
|
Profit/ (Loss) |
(5.718) |
4.000 |
|
|
-2.59% |
0.74% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G12985057 |
10577217 |
STATE BANK OF
INDIA |
20/06/2015 |
01/08/2016 |
- |
138600000.0 |
LALPAR BRANCH,
NEAR OMKAR PETROLIUM8-A NATIONAL HIGHWAYMORBIGJ363642IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Directors |
|
|
|
Anmol Rameshbhai Raiyani |
0.847 |
0.861 |
|
Sagar Sundarjibhai Patel |
0.585 |
0.759 |
|
Sanjubhai Sundarjibhai Patel |
0.465 |
0.651 |
|
Vipulbhai Laljibhai Patel |
1.150 |
0.503 |
|
From Shareholders and Relatives |
14.652 |
17.173 |
|
From Company |
|
|
|
Amrutsaroj Investment and Estate Private Limited |
1.636 |
1.534 |
|
IZ Share Broking Services Private Limited |
5.445 |
5.104 |
|
Orange Business Process Management Private Limited |
2.725 |
2.554 |
|
|
|
|
|
Total |
27.505 |
29.139 |
FIXED ASSETS:
· Factory Land
· Factory Building
· Plant and Machinery
· 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, 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
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.08 |
|
UK Pound |
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
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.