MIRA INFORM REPORT

 

 

Report No. :

497951

Report Date :

21.03.2018

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

ARIHANTANAM LIFECARE PRIVATE LIMITED   

 

 

Registered Office :

Plot No 2516 - 2518, GIDC Sarigam, Umargaon, Valsad -396155, Gujarat

Tel. No.:

91-260-2781234

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

22.06.2010

 

 

Com. Reg. No.:

04- 061205

 

 

Capital Investment / Paid-up Capital :

INR 10.000 Million

 

 

CIN No.:

[Company Identification No.]

U24230GJ2010PTC061205

 

 

IEC No.:

[Import-Export Code No.]

5210020151

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

GSTN :

[Goods & Service Tax Registration No.]

24AAICA5813C1Z5

 

 

PAN No.:

[Permanent Account No.]

AAICA5813C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :
  • The subject is engaged in Manufacturing of Pharmaceutical Bulk Drugs Intermediates and Chemicals. (Registered activity and also Confirmed by management)

 

  • Manufacturer and Exporter of Life Care Products. (Confirmed by management)

 

 

No. of Employees :

150 (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 290000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2010. It is manufacturer of Pharmaceutical Bulk Drugs, Drug Intermediates and Chemicals, and manufacturer and exporter of Life Care Products.

 

For the financial year 2017, the revenue of the company has increased by 2.68% along with average profit margin of 5.26%.

 

The rating takes into consideration the satisfactory financial profile of the company marked by sufficient networth base along with negligible debt level.

 

The company has favourable Earning Per Share (EPS) of INR 28.32 against a face value (FV) of INR 10.

 

Business is active. Payment 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.

 

 

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

 

Rating Agency Name

ICRA

Rating

Long Term = BB-

Rating Explanation

Moderate risk of default.

Date

15.01.2018

 

Rating Agency Name

ICRA

Rating

Short Term = A4 

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

15.01.2018

 

 

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 21.03.2018

 

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

 

Name :

Mr. Ravindrakumar Hiralal Singh

Designation :

Director

Contact No.:

91-9879530414

Date :

20.03.2018

 

 

LOCATIONS

 

Registered Office / Factory:

Plot No 2516 - 2518, GIDC Sarigam, Umargaon, Valsad -396155, Gujarat, India

Tel. No.:

91-260-2781234 / 2780734 / 2781235

Mobile No.:

91-9879530414 (Mr. Ravindrakumar Hiralal Singh)

Fax No.:

91-260-2781234/2780734/2781235

E-Mail :

niketan.todhan14@gmail.com

hasmukh@arihantanam.com

rk11@arihantam.com

account@arihantanam.com

Website :

www.arihantanam.com

http://www.arihantanamlifecare.co.in

Area :

2250 Sq. ft

Location :

Owned

Locality:

Industrial

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Hasmukhbhai Natvarlal Patel

Designation :

Wholetime Director

Address :

Flat No.301, Sneh Galaxy, Siddhi Vinayak Complex, Kachigam Road, Vapi - 396191, Gujarat, India

Date of Birth/Age :

14.02.1965

Date of Appointment :

22.06.2010

DIN No.:

03074821

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24230DD2011PTC004692

BLISS INDASI LIFESCIENCE PRIVATE LIMITED

09/03/2011

-

 

 

Name :

Mrs. Induben Ravindrakumar Singh

Designation :

Wholetime Director

Address :

Flat No.303, B Wing, Shanti Co-operative Housing Society, Gunjan Road, Vapi-396195, Gujarat, India

Date of Birth/Age :

08.08.1968

Date of Appointment :

23.06.2010

DIN No.:

03074910

 

 

Name :

Mrs. Kanchanben Hasmukhbhai Patel

Designation :

Wholetime Director

Address :

Flat No.301, Sneh Galaxy, Siddhi Vinayak Complex, Kachigam Road, Vapi - 396191, Gujarat, India

Date of Birth/Age :

03.05.1971

Date of Appointment :

23.06.2010

DIN No.:

03074931

 

 

Name :

Mr. Ravindrakumar Hiralal Singh

Designation :

Wholetime Director

Address :

Flat No.303, B Wing, Shanti Co-operative Housing Society, Gunjan Road, Vapi - 396195, Gujarat, India

Date of Birth/Age :

02.05.1966

Date of Appointment :

22.06.2010

DIN No.:

03075727

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U24230DD2011PTC004692

BLISS INDASI LIFESCIENCE PRIVATE LIMITED

09/03/2011

-

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2017

 

Names of Shareholders

No. of Shares

%age

Hasmukh Patel

208700

20.87

Induben Ravindrakumar Singh

295860

29.59

Kanchan Hasmukhbhai Patel

291300

29.13

Ravindra Hasmukhbhai Singh

204140

20.41

Total

1000000

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 20.08.2017

 

Category

Percentage

Promoter – (Individual/ Hindu Undivided Family – Indian)

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :
  • The subject is engaged in Manufacturing of Pharmaceutical Bulk Drugs Intermediates and Chemicals. (Registered activity and also Confirmed by management)

 

  • Manufacturer and Exporter of Life Care Products. (Confirmed by management)

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • China
  • European Countries

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, L/C and Credit (30 / 60 Days)

 

 

Purchasing :

Cash, L/C and Credit (30 / 60 Days)

 

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 and End Users

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

150 (Approximately)  

 

 

Bankers :

Bank Name

Panjab National Bank

Branch

C/M – 8/16, GIDC, VAPI – 396195, Gujarat, India

Person Name (With Designation)

--

Contact Number

91-260-2433323 (Ringing)

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)

--

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Term Loan from Banks:

 

 

Punjab National Bank

0.000

0.543

Tata Capital Financial Services Limited

23.858

0.000

Vehicle Loan:

 

 

Volkseagen Finance Private Limited – 735

2.128

2.466

HDFC Bank Car Loan – 43744223

3.108

0.000

 

 

 

Short-term borrowings

 

 

Punjab National Bank – Cash Credit

87.673

84.867

(Secured by hypothecation of present and Future Stocks of RM, WIP, FG Consumable, Stores and Spares.

 

Secured against Premises of Godown at Sarigam and entire Current Assets of the company

 

Secured against Present and Future Book Debts, Outstanding Decree, Money Receivables, Securities, Government Subsidies and Investment, rights and other Movable Assets of the Company)

 

 

Total

116.767

87.876

NOTE:

Long-term Borrowings

 

A. Secured against Building renovation and Plant and Machinery. The term loan was taken during the financial year 2012-2013 and carries interest@14.75% p.a. the loan is repayable in 60 monthly installments of INR 0.117 million each, from the date of loan.

 

b. Secured against Plant and Machinery. The loan is repayable in equal installments of INR 0.537 Million

 

c. Secured against Car. The loan is repayable in equal installments of INR 0.070 Million

 

d. Secured against Car. The loan is repayable in equal installments of INR 0.084 Million.

 

Auditors :

 

Name :

G B Laddha and Company

Chartered Accountants

Address :

1-2, Sahara Market, 2nd Floor, Silvassa Road, Vapi – 396191, Gujarat, India

Mob No.:

91-8347744411/422/433

Fax No.:

91-260-2425966

E-Mail :

audit@gbladdha.com

Website:

www.gbladdha.com

PAN N Income-tax PAN of auditor or auditor's firm :

AANFG3272H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Kanchanben Hasmukhbhai Patel and Induben Ravindrakumar Singh (Director) are Partners:
  • Yesh Enterprises

 

 

Hasmukhbhai Natvarlal Patel and Ravindrakumar Hiralal Singh (Director) are directors:
  • Bliss Indasi Life Science Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

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

 

 

 

 

 

 

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

10.000

10.000

10.000

(b) Reserves & Surplus

90.105

61.786

44.433

(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)

100.105

71.786

54.433

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

44.154

18.571

11.152

(b) Deferred tax liabilities (Net)

9.271

5.532

4.787

(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)

53.425

24.103

15.939

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

87.673

84.867

91.806

(b) Trade payables

106.496

113.800

107.629

(c) Other current liabilities

49.323

35.518

19.316

(d) Short-term provisions

11.269

9.179

3.125

Total Current Liabilities (4)

254.761

243.364

221.876

 

 

 

 

TOTAL

408.291

339.253

292.248

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

132.615

64.214

58.909

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

6.595

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

2.241

1.109

1.095

(e) Other Non-current assets

3.258

3.061

0.000

Total Non-Current Assets

138.114

74.979

60.004

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

66.158

21.134

29.503

(c) Trade receivables

157.778

229.696

188.393

(d) Cash and cash equivalents

23.329

5.291

4.289

(e) Short-term loans and advances

22.526

7.868

9.734

(f) Other current assets

0.386

0.285

0.325

Total Current Assets

270.177

264.274

232.244

 

 

 

 

TOTAL

408.291

339.253

292.248

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

538.501

524.451

445.934

 

Other Income

9.315

1.217

6.692

 

TOTAL

547.816

525.668

452.626

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

373.693

381.325

382.605

 

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

(13.387)

3.819

(11.216)

 

Employees benefits expense

36.829

26.163

16.820

 

Other expenses

86.817

66.479

34.364

 

TOTAL

483.952

477.786

422.573

 

 

 

 

 

 

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

63.864

47.882

30.053

 

 

 

 

 

Less

FINANCIAL EXPENSES

13.556

15.370

13.010

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

50.308

32.512

17.043

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

7.015

4.973

4.756

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

43.293

27.539

12.287

 

 

 

 

 

Less

TAX

14.974

10.186

3.858

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

28.319

17.353

8.429

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

50.134

32.781

24.393

 

 

 

 

 

Less

Computer Written Off

NA

NA

0.041

 

 

 

 

 

 

Balance Carried to the B/S

78.453

50.134

32.781

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

10.066

3.563

2.772

 

TOTAL EARNINGS

10.066

3.563

2.772

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

290.867

277.134

307.996

 

TOTAL IMPORTS

290.867

277.134

307.996

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

28.32

17.35

8.43

 

 

Expected Sales (2017-2018) : INR 580.000 Million (Due to business growht)

 

The above information has been parted by Mr. Ravindrakumar Hiralal Singh (Director)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

7.447

3.055

1.773

Cash generated from operations

76.658

40.299

20.986

Net cash flow from operating activity

67.038

34.110

18.746

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

106.94

159.86

154.20

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

3.41

2.28

2.37

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

104.02

108.93

102.68

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.97

2.27

1.02

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.48

0.68

0.51

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.75

0.78

0.80

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.39

1.48

1.92

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.54

3.39

4.08

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.32

0.99

1.08

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

4.71

3.12

2.31

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

5.26

3.31

1.89

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

6.94

5.12

2.88

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

28.29

24.17

15.49

 

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.06

1.09

1.05

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.80

1.00

0.91

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.25

0.21

0.19

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

13.93

10.65

10.47

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.06

1.09

1.05

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

44.433

61.786

90.105

Share Application money pending allotment

0.000

0.000

0.000

Net worth

54.433

71.786

100.105

 

 

 

 

Long Term borrowings

11.152

18.571

44.154

Short Term borrowings

91.806

84.867

87.673

Current Maturities of Long term debt

1.773

3.055

7.447

Total borrowings

104.731

106.493

139.274

Debt/Equity ratio

1.924

1.483

1.391

 

 

 

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

445.934

524.451

538.501

 

 

17.607

2.679

 

 

 

 

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

445.934

524.451

538.501

Profit

8.429

17.353

28.319

 

1.89%

3.31%

5.26%

 

 

 

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

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)

Yes

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

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CORPORATE INFORMATION:

 

Subject is Private Limited Company incorporated under the provision of companies Act, 1956. The subject is engaged in Manufacturing of Pharmaceutical Bulk Drugs Intermediates and Chemicals.

 

 

OPERATIONS AND STATE OF COMPANY’S AFFAIRS:

 

During the year, the company’s total income was INR 547.817 Million as against INR 525.668 Million in previous year. The company has made net profit before tax for the year INR 28.319 Million.

 

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

From Directors

15.060

15.562

 

 

 

Total

15.060

15.562

 

 

 

 

INDEX OF CHARGES:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G32991978

100071203

TATA CAPITAL FINANCIAL SERVICES LIMITED

20/10/2016

-

-

36800000.0

One Forbes,Dr. V. B. Gandhi Marg, FortMumbaiMH400001IN

2

C63193379

10397737

Punjab National Bank

27/09/2010

12/08/2015

-

147348000.0

C/M-8/16, GIDCVapiGJ396195IN

3

B74644378

10306164

PUNJAB NATIONAL BANK

14/09/2010

07/05/2013

-

150676000.0

GIDC BRANCHVAPIGJ396195IN

 

 

FIXED ASSETS

 

  • Factory Building
  • Staff Room
  • Air Compressor
  • Air Conditioner
  • Camera
  • D,G, Set
  • Electric Fitting
  • Laboratory Equipments
  • Plant and Machinery
  • Weight Scale
  • EPABX System Siemens
  • Centrifuge Machine
  • Furniture and Fixture
  • Car Honda City
  • Car Mercedes
  • Office Equipment
  • Audi Car
  • Computer
  • Vehicle

 

 

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 65.19

UK Pound

1

INR 91.49

Euro

1

INR 80.46

 

 

INFORMATION DETAILS

 

Information Gathered by :

SLK

 

 

Analysis Done by :

VRS

 

 

Report Prepared by :

SUJ

 

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

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.