|
|
|
MIRA INFORM REPORT
|
Report No. : |
501251 |
|
Report Date : |
31.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
RASINO HERBES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
233, Bharat Industrial Co-operative Premises, L.B.S. Marg, Bhandup
(West), Mumbai-400078, Maharashtra |
|
Tel. No.: |
91-22-25963526/32922378 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
27.05.1983 |
|
|
|
|
Com. Reg. No.: |
11- 030062 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.230 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1983PTC030062 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACR8768F1Z0 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR8768F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing of pharmaceutical formulations such as
tablets, Ointments, Capsules, Liquids, Injections, basic drugs and fine
chemicals. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 9900 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1983 and it is engaged in
manufacturing of basic chemicals elements. For the financial year ended 2017, the company has reported growth of
24.35% in its revenue profile but failed to maintain profit margin and
reported low margin at 0.81% during the year under review. The company’s moderate financial profile is reflected by small net
worth base along with high debt level and low cash balance of the company. However, rating weakness is partially offset by company’s long
standing track record of business operations. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 31.03.2018
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.
LOCATIONS
|
Registered Office/Admin Office : |
233, Bharat Industrial Co-operative Premises, L.B.S. Marg, Bhandup
(West), Mumbai-400078, Maharashtra, India |
|
Tel. No.: |
91-22-25963526 / 32922378 |
|
Mobile No.: |
91-9821407921 (Mr. Paresh Doshi) |
|
Fax No.: |
91-22-25962748 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory : |
N-2, MIDC, Chemical Zone Area, Kupwad, Sangali – 416436, Maharashtra,
India. |
|
Area : |
Owned |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Pratibha Pratap Doshi |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
C/O Rasino Herbs Private Limited, N-2, MIDC, Kupwad, Sangli – 416436, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
31.08.1948 |
||||||||
|
Date of Appointment : |
27.05.1983 |
||||||||
|
DIN No.: |
01448135 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Pratap Raichand Doshi |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
N2, MIDC, Kupwad, Sangli – 416436, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
01.11.1947 |
||||||||
|
Date of Appointment : |
27.05.1983 |
||||||||
|
DIN No.: |
01850288 |
||||||||
|
|
|
||||||||
|
Name : |
Mr. Paresh Pratap Doshi |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
C-504, Swapna Mahal Co-Operative Housing Society, Swapna Nagarai, Mulund ( West), Mumbai – 400080, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
03.06.1977 |
||||||||
|
Date of Appointment : |
29.09.2012 |
||||||||
|
DIN No.: |
05123866 |
||||||||
|
Other directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mrs. Swarada Paresh Doshi |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
C-504, Swapna Mahal Co-Operative Housing Society, Swapna Nagarai, Mulund ( West), Mumbai – 400080, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
09.01.1980 |
||||||||
|
Date of Appointment : |
29.09.2012 |
||||||||
|
DIN No.: |
05123874 |
||||||||
|
Other directorship:
|
|||||||||
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Jawahar Raichand Doshi |
810 |
3.51 |
|
Pratap Raichand Doshi |
20685 |
89.76 |
|
Pratibha Pratap Doshi |
1550 |
6.73 |
|
Total |
23045 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of pharmaceutical formulations such as
tablets, Ointments, Capsules, Liquids, Injections, basic drugs and fine
chemicals. [Registered
Activity] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
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|
Customers : |
|
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|
||||||||||||||||||||||||
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No. of Employees : |
Not Available |
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|
||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
R.J.Kulkarni and Company Chartered Accountants |
|
Address : |
14, Preeti Apartment, Near Mali, Theatre, Shivajinagar(S), Sangli –
416416, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACCPK5855D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000 |
Equity Shares |
INR 10/- each |
INR 0.300 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23,045 |
Equity Shares |
INR 10/- each |
INR 0.230 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.230 |
0.230 |
0.230 |
|
(b) Reserves &
Surplus |
3.227 |
2.347 |
1.939 |
|
(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) |
3.457 |
2.577 |
2.169 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3.699 |
2.361 |
7.877 |
|
(b) Deferred tax liabilities
(Net) |
0.438 |
0.424 |
0.176 |
|
(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) |
4.137 |
2.785 |
8.053 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
12.834 |
14.886 |
5.048 |
|
(b) Trade payables |
37.226 |
22.242 |
12.937 |
|
(c) Other current
liabilities |
1.520 |
1.310 |
1.130 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
51.580 |
38.438 |
19.115 |
|
|
|
|
|
|
TOTAL |
59.174 |
43.800 |
29.337 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.386 |
7.525 |
7.641 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.294 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2.662 |
2.465 |
2.273 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
11.342 |
9.990 |
9.914 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6.364 |
6.001 |
2.511 |
|
(c) Trade receivables |
34.146 |
24.790 |
13.494 |
|
(d) Cash and cash
equivalents |
1.770 |
0.086 |
2.533 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.885 |
|
(f) Other current assets |
5.552 |
2.933 |
0.000 |
|
Total Current Assets |
47.832 |
33.810 |
19.423 |
|
|
|
|
|
|
TOTAL |
59.174 |
43.800 |
29.337 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
108.592 |
87.327 |
66.151 |
|
|
Other Income |
0.289 |
1.063 |
1.164 |
|
|
TOTAL |
108.881 |
88.390 |
67.315 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
74.921 |
57.373 |
46.448 |
|
|
Employees benefits
expense |
9.114 |
7.607 |
6.469 |
|
|
Other expenses |
20.838 |
20.049 |
12.947 |
|
|
Prior period expenses |
0.000 |
0.046 |
0.000 |
|
|
TOTAL |
104.873 |
85.075 |
65.864 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
4.008 |
3.315 |
1.451 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1.488 |
1.205 |
0.594 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
2.520 |
2.110 |
0.857 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.094 |
1.045 |
0.812 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.426 |
1.065 |
0.045 |
|
|
|
|
|
|
|
Less |
TAX |
0.546 |
0.657 |
0.012 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.880 |
0.408 |
0.033 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
38.20 |
17.72 |
1.44 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.360 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
4.893 |
(5.647) |
(3.184) |
|
|
|
|
|
|
Net cash flows from (used in) operations |
4.484 |
(5.647) |
(3.377) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
114.77 |
103.61 |
74.46 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.18 |
3.52 |
4.90 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
181.36 |
141.50 |
101.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.63 |
0.55 |
0.58 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.46 |
0.44 |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.94 |
0.93 |
0.92 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
4.89 |
6.69 |
5.96 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
14.92 |
14.92 |
8.81 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.51 |
2.92 |
3.52 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.69 |
2.75 |
2.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.81 |
0.47 |
0.05 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.49 |
0.93 |
0.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
25.46 |
15.83 |
1.52 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.93 |
0.88 |
1.02 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.80 |
0.72 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.06 |
0.06 |
0.07 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
73.45 |
74.99 |
56.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.93 |
0.88 |
1.02 |
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 |
0.230 |
0.230 |
0.230 |
|
Reserves & Surplus |
1.939 |
2.347 |
3.227 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2.169 |
2.577 |
3.457 |
|
|
|
|
|
|
Long Term borrowings |
7.877 |
2.361 |
3.699 |
|
Short Term borrowings |
5.048 |
14.886 |
12.834 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.360 |
|
Total
borrowings |
12.925 |
17.247 |
16.893 |
|
Debt/Equity
ratio |
5.959 |
6.693 |
4.887 |
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
|
66.151 |
87.327 |
108.592 |
|
|
|
32.012 |
24.351 |
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
|
66.151 |
87.327 |
108.592 |
|
Profit |
0.033 |
0.408 |
0.880 |
|
|
0.05% |
0.47% |
0.81% |
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 |
No |
|
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 |
GENERAL
INFORMATION
Subject was incorporated on 27th May, 1983. The company is
engaged in manufacturing of pharmaceutical formulations such as tablets,
Ointments, Capsules, Liquids, Injections, basic drugs and fine chemicals by the
industrial unit. The company has its head office in Mumbai and its place of
business is Sangli.
REVIEW OF OPERATION/PERFORMANCE
During the financial year, the company’s had earned total income of INR 108.881 million as compared to INR 88.390 million for the previous year. Profit after tax stood at INR 0.880 million as compared to INR 0.408 million for the previous year.
THE STATE OF COMPANY’S AFFAIRS
The company is engaged in the business of manufacturing of basic chemical elements. Overall economic scenario is good and company is looking to the future with confidence.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Deep Pharma |
0.480 |
0.480 |
|
Deep Pharma Interest |
0.265 |
0.265 |
|
Pratap R Doshi |
0.624 |
0.024 |
|
Paresh P Doshi – HUF |
0.250 |
0.00 |
|
Pratap R Doshi– HUF |
0.001 |
0.001 |
|
Pratibha Doshi |
0.623 |
0.001 |
|
Swarada Doshi |
0.587 |
0.003 |
|
Ved International |
0.110 |
0.000 |
|
Total |
2.940 |
0.774 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G29767456 |
100065846 |
CORPORATION BANK |
05/12/2016 |
- |
1772000.0 |
185- R, P . K . ROADMULUND
WEST , MUMBAIMUMBAIMH400080IN |
|
2 |
C81335754 |
10103309 |
CORPORATION BANK |
23/10/2006 |
08/09/2015 |
15000000.0 |
185-R, ALHAD,
P.K.ROAD,MULUND-WESTMUMBAIMH400080IN |
FIXED ASSETS:
- Land
- Building
- Office Equipment’s
- Plant and Machinery
- Electrical Installation
- Other Equipment
- Library
- Furniture and Fixtures
- Laboratory Equipment
- Computers
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
NO |
|
--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.