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MIRA INFORM REPORT
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Report No. : |
500045 |
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Report Date : |
27.03.2018 |
IDENTIFICATION DETAILS
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Name : |
D S V CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
27, Tejpal Scheme Road No. 5, Vile Parle (East), Mumbai 400057,
Maharashtra |
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Tel. No.: |
91-22-26120141 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
10.09.1980 |
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Com. Reg. No.: |
11-023091 |
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Capital
Investment / Paid-up Capital : |
INR 1.004 Million |
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CIN No.: [Company Identification
No.] |
U24220MH1980PTC023091 |
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IEC No.: |
0388007923 |
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TIN No.: |
27830377355 |
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GST No.: |
27AAACD4605M1ZN |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACD4605M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Trading of Resins, Printing Ink and Allied Products.
[Registered Activity] |
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No. of Employees
: |
Information declined by Management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1980. It is a Manufacturing and Trading of Resins, Printing Ink and Allied Products. For the financial year 2017, the company has achieved 63.22% growth in its revenue as compared to previous year revenue and has maintained healthy profitability margin of 26.75% during the year under review. The satisfactory financial profile of the company is marked by sufficient networth base along with comfortable debt coverage indicators. The company has favourable Earning Per Share (EPS) of INR 11,137.51 against a face value (FV) of INR 100. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. 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.
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
31-03-2016.
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 27.03.2018
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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-22-26120141]
LOCATIONS
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Registered Office : |
27, Tejpal Scheme Road No.5, Vile Parle (East), Mumbai 400057,
Maharashtra, India |
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Tel. No.: |
91-22-26120141/ 26120142/ 26120144/ 26120145 |
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Fax No.: |
91-22-26120147 |
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E-Mail : |
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Website : |
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Corporate Office
: |
401, ‘E’ Square, Subhash Road, Vile Parle (East), Mumbai 400057,
Maharashtra, India |
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Factory : |
Plot No. 10, Village Essambe, Post Majgaon, Taluka, Khalapur, District
Raigad-410220, Maharashtra, India |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Dhananjay Madhusudan Sathaye |
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Designation : |
Director |
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Address : |
Vinayak, 27, Tejpal Scheme, Road No. 5, Vile Parle (East), Mumbai - 400057, Maharashtra, India |
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Date of Birth/Age : |
26.04.1951 |
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Date of Appointment : |
01.11.1980 |
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DIN No.: |
00538712 |
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Name : |
Mrs. Swati Dhananjay Sathaye |
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Designation : |
Director |
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Address : |
Vinayak, 27, Tejpal Scheme, Road No.5, Vile Parle (East), Mumbai - 400057, Maharashtra, India |
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Date of Birth/Age : |
23.11.1957 |
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Date of Appointment : |
01.09.1981 |
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DIN No.: |
00538717 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
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Names of Equity Shareholders |
No. of Shares |
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Dhananjay M. Sathaye |
2675 |
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Vijay M Sathaye |
200 |
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Gaurav D. Sathaye |
1000 |
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Meghana A. Chandrachud |
1000 |
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Swati D. Sathaye |
2700 |
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D. M. Sathaye – HUF |
1425 |
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D. M. Sathaye Family Trust, India |
500 |
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S. D. Sathaye Family Trust, India |
500 |
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Total |
10000 |
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Names of Preference Shareholder |
No. of Shares |
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Swati D. Sathaye |
37 |
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Total |
37 |
AS ON: 30.09.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Trading of Resins, Printing Ink and Allied Products.
[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: [NOT AVAILABLE]
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by Management |
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Bankers : |
· The Shamrao Vithal Co-Op. Bank Limited "Geetanjali", Nehru Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India · Janata Sahakri Bank Limited · The Saraswat Co-Op Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
Sarda and Pareek Chartered Accountants |
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Address : |
Mahavir Apartments, 3rd Floor, 598, M.G. Road, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
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Tel. No.: |
91-22-26101124/ 26 |
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Fax No.: |
91-22-26134015 |
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E-Mail : |
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PAN No.: |
AACFS5674A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties : |
· D. M. Sathaye Family Trust, India · S. D. Sathaye Family Trust, India |
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Associate Companies: |
· United Ink and Varnish Company Private Limited · United Speciality Inks Private Limited ·
Swadhan Investments Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
49000 |
Equity Shares |
INR 100/- each |
INR 4.900 Million |
|
1000 |
Preference Shares |
INR 100/- each |
INR 0.100 Million |
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Total |
|
INR 5.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 100/- each |
INR 1.000
Million |
|
37 |
Preference Shares |
INR 100/- each |
INR 0.004
Million |
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Total |
|
INR 1.004 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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
1.004 |
1.004 |
1.004 |
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(b) Reserves & Surplus |
28.449 |
(82.926) |
(122.777) |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
29.453 |
(81.922) |
(121.773) |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
27.560 |
134.142 |
179.314 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c)
Other long term liabilities |
1.634 |
1.086 |
1.086 |
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(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
29.194 |
135.228 |
180.400 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
27.920 |
33.657 |
34.093 |
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(b)
Trade payables |
48.098 |
51.125 |
79.660 |
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(c)
Other current liabilities |
17.302 |
16.070 |
15.462 |
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(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Current Liabilities (4) |
93.320 |
100.852 |
129.215 |
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TOTAL |
151.967 |
154.158 |
187.842 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
25.032 |
25.977 |
27.785 |
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(ii)
Intangible Assets |
0.076 |
0.086 |
0.031 |
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(iii)
Capital work-in-progress |
0.846 |
0.000 |
0.000 |
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(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.510 |
0.510 |
0.510 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
2.612 |
1.231 |
1.322 |
|
Total
Non-Current Assets |
29.076 |
27.804 |
29.648 |
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(2) Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
43.190 |
48.506 |
24.757 |
|
(c)
Trade receivables |
67.742 |
64.042 |
119.826 |
|
(d)
Cash and cash equivalents |
4.953 |
4.512 |
2.746 |
|
(e)
Short-term loans and advances |
7.006 |
9.294 |
10.865 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
122.891 |
126.354 |
158.194 |
|
|
|
|
|
|
TOTAL |
151.967 |
154.158 |
187.842 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
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|
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Revenue from Operations |
416.318 |
255.066 |
168.328 |
|
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Other Income |
0.780 |
1.843 |
0.213 |
|
|
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TOTAL |
417.098 |
256.909 |
168.541 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
229.963 |
146.294 |
133.683 |
|
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|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(0.883) |
(6.121) |
4.791 |
|
|
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Employees benefits expense |
23.848 |
22.045 |
16.228 |
|
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Other expenses |
32.603 |
34.141 |
33.879 |
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|
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TOTAL |
285.531 |
196.359 |
188.581 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
131.567 |
60.550 |
(20.040) |
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|
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|
Less |
FINANCIAL
EXPENSES |
9.328 |
17.901 |
20.148 |
|
|
|
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|
|
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|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
122.239 |
42.649 |
(40.188) |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.202 |
2.798 |
3.617 |
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|
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|
PROFIT/ (LOSS)
BEFORE TAX |
120.037 |
39.851 |
(43.805) |
|
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|
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|
|
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|
Less |
TAX |
8.662 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
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|
PROFIT/ (LOSS)
AFTER TAX |
111.375 |
39.851 |
(43.805) |
|
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|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
22.476 |
27.348 |
NA |
|
|
TOTAL EARNINGS |
22.476 |
27.348 |
NA |
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
CIF Value of Import |
16.181 |
4.848 |
NA |
|
|
TOTAL IMPORTS |
16.181 |
4.848 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
11137.51 |
3985.14 |
(4380.53) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
10.163 |
7.161 |
11.630 |
|
|
|
|
|
|
Cash generated from operations |
126.589 |
62.964 |
(25.773) |
|
|
|
|
|
|
Net Cash Inflow/ Outflow from operating activities |
108.599 |
45.063 |
(45.921) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
59.39 |
91.64 |
259.83 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.15 |
3.98 |
1.40 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
76.34 |
127.56 |
217.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
3.05 |
1.25 |
(0.81) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
5.07 |
2.32 |
(0.72) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.86 |
1.57 |
1.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.23 |
(2.14) |
(1.85) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.17 |
(1.23) |
(1.06) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.88 |
(0.32) |
(0.23) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
14.10 |
3.38 |
(0.99) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
26.75 |
15.62 |
(26.02) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
73.29 |
25.85 |
(23.32) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
378.14 |
(48.65) |
35.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.32 |
1.25 |
1.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.85 |
0.77 |
1.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.19 |
-0.53 |
(0.65) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
65.38 |
174.26 |
224.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.32 |
1.25 |
1.22 |
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 |
1.004 |
1.004 |
1.004 |
|
Reserves & Surplus |
(122.777) |
(82.926) |
28.449 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
(121.773) |
(81.922) |
29.453 |
|
|
|
|
|
|
long-term borrowings |
179.314 |
134.142 |
27.560 |
|
Short term borrowings |
34.093 |
33.657 |
27.920 |
|
Current Maturities of Long
term debt |
11.630 |
7.161 |
10.163 |
|
Total
borrowings |
225.037 |
174.960 |
65.643 |
|
Debt/Equity
ratio |
(1.848) |
(2.136) |
2.229 |
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 |
168.328 |
255.066 |
416.318 |
|
|
|
51.529 |
63.220 |
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 |
168.328 |
255.066 |
416.318 |
|
Profit/ (Loss) |
(43.805) |
39.851 |
111.375 |
|
|
(26.02%) |
15.62% |
26.75% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 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 |
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 |
C46657334 |
10555041 |
THE SARASWAT COOPERATIVE BANK LTD |
11/03/2015 |
- |
- |
5000000.0 |
SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOCSUBHASH ROAD, VILE PARLE EASTMUMBAIMH400057IN |
|
2 |
A14891865 |
10049933 |
THE SARASWAT CO-OP BANK LTD ( LEAD BANKERS) |
03/05/2007 |
- |
- |
25000000.0 |
VILE PARLE BRANCH, VILE PARLE EASTMUMBAIMH400057IN |
|
3 |
G35062553 |
90160973 |
THE SARASWAT COOPERATIVE BANK LTD |
06/01/1999 |
11/01/2017 |
- |
84863000.0 |
SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOCSUBHASH ROAD, VILE PARLE EASTMUMBAIMH400057IN |
|
4 |
Y10264970 |
90163723 |
THE SARASWAT CO-OP BANK LTD ( LEAD BANKERS) |
21/05/1998 |
03/05/2007 |
- |
8000000.0 |
VILE PARLE BRANCH, VILE PARLE EASTMUMBAIMH400057IN |
|
5 |
G23667736 |
90163703 |
THE SARASWAT COOPERATIVE BANK LTD |
31/03/1998 |
25/10/2016 |
- |
45750000.0 |
SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOCSUBHASH ROAD, VILE PARLE EASTMUMBAIMH400057IN |
|
6 |
G51487791 |
90162455 |
JANATA SAHAKRI BANK LTD |
09/02/1991 |
- |
22/08/2017 |
7200000.0 |
VILE PARLE (E) BRANCHSHRIKANJ PREMISES HANUMAN ROADBOMBAYMH400057IN |
|
7 |
G51487031 |
90162627 |
JANATA SAHAKRI BANK LTD |
03/07/1992 |
- |
22/08/2017 |
7200000.0 |
PUNE VILE PARLE BRANCHBOMBAYMHIN |
|
8 |
G51770253 |
90163900 |
THE SARASWAT CO-OP BANK LTD |
17/08/1999 |
- |
09/08/2017 |
2500000.0 |
VILE PARLEMUMBAIMH400057IN |
|
9 |
G51769677 |
10134591 |
THE SARASWAT CO-OP BANK LTD |
05/12/2008 |
- |
09/08/2017 |
3000000.0 |
VILE PARLE BRANCH, VILE PARLE (EAST)MUMBAIMH400057IN |
|
10 |
G49185853 |
10089675 |
THE SHAMRAO VITHAL CO-OP. BANK LTD. |
17/01/2008 |
- |
25/07/2017 |
72500000.0 |
"GEETANJALI" NEHRU ROAD,VILE PARLE (EAST)MUMBAIMH400057IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Members, Directors and Relatives |
9.080 |
76.502 |
|
Incorporate Deposits |
1.108 |
28.393 |
|
Deferred Sales Tax* *(Maturity profile for deferred sales tax is under Repayable within 2
to 3 years INR 2.126 million) |
2.126 |
4.368 |
|
|
|
|
|
Total |
12.314 |
109.263 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Letter of Credit outstanding are |
4.558 |
13.421 |
|
In respect of pending receipt of sales tax forms |
0.424 |
1.820 |
FIXED ASSETS:
· Freehold Land
· Plant, Machinery and Equipment’s
· Electrical Installations
· Vehicles
· Computers
· Furniture and Fixtures
· Air Conditioners
· Fire Control System
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 64.91 |
|
UK Pound |
1 |
INR 91.87 |
|
Euro |
1 |
INR 80.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RUP |
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.