MIRA
INFORM REPORT
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Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TIL LIMITED |
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Registered Office : |
1, |
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Country: |
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Financial (as on): |
31.03.2007 |
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Date of Incorporation : |
24.10.1980 |
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Com. Reg. No: |
21-41725 |
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Legal Form : |
Public limited liability company The companys shares are listed on stock Exchanges |
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Line of Business : |
Manufacturing of diesel-hydraulic / electric cranes / carrier units (trucks), diesel generating sets, forklift, extra long multi axle truck and self-propelled rubber tyre container which are applied in various industries such as cement, chemical plants, construction, fertilizer, irrigation, railways, roads, jute mills, steel plants, oil & petrochemicals, thermal power, inland container depots, forestry, hospitals, engineering plants, etc |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED
CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3408800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old established company having satisfactory track records. Directors are reported as experienced, respectable and resourceful professionals. Their trade relations are reported as fair. Payments are reported as slow but correct. The company can be considered normal for business dealings
at usual trade terms & conditions. |
LOCATIONS
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Registered Office : |
1, |
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Tel. No.: |
91-33-2469-3732/36 (5 Lines) |
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Fax No.: |
91-33-2469-2143 / 2469-3731 |
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E-Mail : |
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Website : |
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Regional Offices
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Post Box No. 74 302 Ansal Bhawan, Kasturba Gandhi Marg Tel : 91-11-2331 1607/8046/8863/9248 Fax : 91-11-2331 3263 E-mail: deloffice@tilindia.com Chennai - 600034, Tel : 91-44-2827 6103/0723/7518/0729 Fax : 91-44-2827 9681 E-mail: tilchn@vsnl.net 307 Centre Point, Mumbai - 400 059, Tel : 91-22-56430192/3/4/5 Fax : 91-22-56430904 E-mail: tilvashi@vsnl.net |
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International Marketing Sector: |
302, Ansal Bhawan, Kasturba Gandhi Marg, |
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Tel. No |
91-11-23311607 /8046 / 8843 / 9248 |
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Fax No |
91-11-23313263 |
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Corporate Office : |
1, |
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Tel. No.: |
91-33-24693732-36 / 24696497 / 24696499 |
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Fax No.: |
91-33-24693731 / 24692143 |
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E-Mail : |
til.gen@til.sprintrpg.ems.vsnl.net.in |
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Web Site : |
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Factory 1 : |
517, |
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Tel. No.: |
91-33-25531352 / 1393 / 1882 / 1982 / 2318 / 2325 |
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Fax No.: |
91-33-25532546 / 5971 |
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E-Mail : |
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Factory 2 : |
Plot No. 11, Site No. 4, Industrial Area, Sahibabad- 201
010, District |
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Tel. No.: |
91-575-2770790-93 /2770593 / 2770847 |
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Fax No.: |
91-575-2770365 |
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E-Mail : |
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Factory 3 : |
RS No. 33/5, |
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Tel. No.: |
91-413-2611409 / 2611172 |
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Fax No.: |
91-413-2611124 |
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Factory 4: |
Kamarhatty (W.B.) |
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Address: |
517, |
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Factory 5: |
Sahibabad (U.P.) |
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Address: |
Plot No.11, Site-4, Sahibabad Industrial Area, Ghazibad 201 010 |
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Factory 6 : |
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Address: |
RS No. 33/5, |
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Overseas Branches: |
16, Mya Mar Thaketa Industrial Zone Tel: +951 547 310-13 / +951 547 140-42 Fax: +951 547 307/ 309 mttcomdy@mptmail.net.mm No. 30, (Between 68th/ Chan Aye Tha Zan Tsp, Tel: +952 22083 Fax: +952 39260 TRACTORS Ward 20, Jawalkhel(behind Wellham college) Tel: +9715 550380 Fax:+9715 550380 E-mail:spnpl@mos.com.np Pelhkil House, Tel No: (97525) 2386 Fax No: (97525) 2786 GA-1, 713, Ganeswar (Behind Valley Fuel Centre), (9771) 412127 (9771) 412127 |
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Chandigarh Seb Mark Project |
DIRECTORS
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Name : |
Mr A Mazumdar |
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Designation : |
Chairman |
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Name : |
Mr Sumit Mazumda |
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Designation : |
Managing Director |
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Name : |
Mr R.L. Gagger |
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Designation : |
Solicitor & Advocate |
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Name : |
Mr. U.V. Rao |
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Designation : |
Former Chief Executive & Managing Director – L & T Ltd. |
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Name : |
Mr. S.M. Datta |
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Designation : |
Chairman, Castrol India Ltd |
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Name : |
Mr. K.S. De |
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Designation : |
Nominee of Life Insurance Corporation of |
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Other Personnel:
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Name : |
Ms. Ritu Mehrotra |
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Designation : |
Company Secretary |
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Name: |
Mr. Debashis Nag |
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Designation : |
Company Secretary |
KEY EXECUTIVES
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Name |
Mr. A. Mazumdar |
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Designation |
Chairman |
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Age |
66 years |
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Qualification |
B.Sc. Engg. ( |
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Experience |
43 years |
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Date of Joining |
01.10.1960 |
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Previous Employment |
Standard Vacuum Oil Company Limited |
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Name |
Mr. Summit Mazumdar |
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Designation |
Managing Director |
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Age |
53 years |
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Qualification |
MBA ( |
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Experience |
29 years |
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Date of Joining |
01.07.1967 |
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Previous Employment |
JBA Printing Inks Limited |
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Other personnel: |
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Mrs. P. Muzamdar |
MAJOR SHAREHOLDERS
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A. Promoter’s Holding |
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1. Promoters |
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-Indian Promoters |
2109424 |
21.68 |
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- Foreign Promoters |
1930828 |
19.84 |
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2. Persons acting in Concert |
NIL |
- |
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Sub- Total |
4040252 |
41.52 |
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B. Non Promoters
holding |
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1. Institutional Investors |
-- |
-- |
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2. Mutual Funds and UTI |
22986 |
0.24 |
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3. Banks, Financial Institutions, Insurance Companies, ( Cental/ State Govt. Institutions/ Non-Government Institutions |
3411156 |
35.06 |
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4. FIIs |
-- |
-- |
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Sub –Total |
3434142 |
35.30 |
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C. Others |
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1. Private Corporate Bodies |
174182 |
1.79 |
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2. Indian Public |
1997225 |
20.53 |
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3. NRIs/ OCBs |
67545 |
0.69 |
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4. Any Other i. Foreign National ii. Clearing Member / Clearing Corporation |
9103 7681 |
0.09 0.08 |
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Sub-Total |
2255736 |
23.18 |
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GRAND TOTAL |
9730130 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of diesel-hydraulic / electric cranes / carrier
units (trucks), diesel generating sets, forklift, extra long multi axle truck
and self-propelled rubber tyre container which are applied in various
industries such as cement, chemical plants, construction, fertilizer,
irrigation, railways, roads, jute mills, steel plants, oil &
petrochemicals, thermal power, inland container depots, forestry, hospitals,
engineering plants, etc |
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Products : |
Mobile cranes Frontlifts Container Handlers Warehouse Trucks Articulated lorry loaders, Aerial platforms, Heavy duty crawler cranes, Safety systems for equipment, Earthmoving equipments, power systems and engines, Cranes (ITC Code – 8426), D G Sets (ITC Code –8502), Forklifts (ITC Code – 8427) |
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Brand Names : |
Grove Worldwide, |
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BOSS Group, |
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National |
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Grove |
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Exports to : |
(accredited with ISO 9001 Certification) |
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Imports from : |
(accredited with ISO 9001 Certification) |
PRODUCTION STATUS
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PARTICULARS |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Diesel-Hydraulic/Electric Cranes/Carrier Units (Trucks) |
Nos. |
1414 |
220 |
67 |
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Diesel Generating Sets |
Nos. |
500 |
250 |
184 |
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Forklift |
Nos. |
750 |
100 |
23 |
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Extra Long Multi Axle Truck |
Nos. |
NA |
5 |
-- |
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Self-Propelled Rubber Tyred Container |
Nos. |
NA |
30 |
27 |
GENERAL INFORMATION
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Customer Service
Centres: |
Amritsar, Asansol, Barbil, Baroda, Bhiwadi, Bhubaneshwar,
Chandigarh, Damanjodi, Delhi, Guwahati, Jaipur, Jamshedpur, Jamnagar, Jharsuguda,
Karnal, Kanpur, Kochi, Korba, Noamundi, Ludhiana, Pondicherry, Ramakundam,
Ramgarh, Siliguri, Singrauli, Talcher, Tinsukia, Udaipur, Dhanbad, Gagal
Project, Nagpur, Neyveli, Pathankot, Vizag, Bhutan and West Bokaro |
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No. of Employees : |
3,000 |
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Bankers : |
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Name : |
Bank of |
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Address: |
Kolkata, West |
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Name : |
Standard Chartered Grindlays Bank Limited |
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Address: |
Kolkata, West |
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Name : |
State Bank of |
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Address: |
Kolkata, West |
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Name : |
Punjab & Sind Bank |
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Address: |
Kolkata, West |
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Name : |
State Bank of Bikaner & Jaipur |
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Address: |
Kolkata, West |
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Name : |
Union Bank of |
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Address: |
Kolkata, West |
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Name : |
Canara Bank |
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Address: |
Kolkata, West |
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Banking Relations
: |
Satisfactory |
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Auditors : |
Price Waterhouse Chartered Accountants |
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Associates/Subsidiaries : |
Subsidiaries: |
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Name: |
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Address: |
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Tel. No |
00951-541 717 / 541 285 |
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Fax No |
00951-548 843 |
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Names: |
- Tractors Nepal Private Limited, |
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- TIL Overseas Pte Limited, |
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New company in |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000,000 |
Equity Shares |
Rs.10/-each |
Rs.100.000 millions |
|
10,000,000 |
Redeemable Cumulative Preference Shares |
Rs. 10/-each |
Rs. 100.000Millions |
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TOTAL: |
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Rs. 200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9,730,130 |
Equity Shares |
Rs.10/-each |
Rs.97.301 millions |
|
4,000,461 |
7.5% Redeemable Cumulative Preference Shares |
Rs.10/-each |
Rs. 40.005 Millions |
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TOTAL |
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Rs. 137.306 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
97.300 |
122.200 |
137.306 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
754.900 |
629.500 |
547.768 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
852.200 |
751.700 |
685.074 |
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LOAN FUNDS |
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1] Secured Loans |
841.600 |
1227.600 |
920.814 |
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2] Unsecured Loans |
04.400 |
13.700 |
244.239 |
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TOTAL BORROWING |
846.000 |
1241.300 |
1165.053 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
42.637 |
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TOTAL |
1698.200 |
1993.000 |
1892.764 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
730.500 |
784.400 |
767.152 |
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Capital work-in-progress |
06.400 |
1.000 |
0.633 |
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INVESTMENT |
74.900 |
44.900 |
54.042 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
951.600
|
861.100
|
647.330
|
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Sundry Debtors |
1329.700
|
1362.300
|
1061.340
|
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Cash & Bank Balances |
04.700
|
8.900
|
21.329
|
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Other Current Assets |
0.000
|
0.000
|
100.849
|
|
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Loans & Advances |
420.500
|
282.200
|
89.862
|
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Total
Current Assets |
2706.500
|
2514.500
|
1920.710 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1528.200
|
1176.900
|
762.036
|
|
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Provisions |
291.900
|
174.900
|
87.737
|
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Total
Current Liabilities |
1820.100
|
1351.800
|
849.773
|
|
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Net Current Assets |
886.400
|
1162.700
|
1070.937
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1698.200 |
1993.000 |
1892.764 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
5686.900 |
4544.000 |
3375.209 |
|
|
Other Income |
284.400 |
272.400 |
0.000 |
|
|
Stock Adjustment |
132.400 |
26.100 |
0.000 |
|
|
Total Income |
6103.700 |
4842.500 |
3375.209 |
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Profit/(Loss) Before Tax |
286.300 |
1884.400 |
100.372 |
|
|
Provision for Taxation |
102.600 |
69.900 |
32.600 |
|
|
Profit/(Loss) After Tax |
183.700 |
118.500 |
67.772 |
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Earnings in Foreign Currency : |
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Other Earnings |
NA |
0.000 |
98.210 |
|
Total Earnings |
NA |
0.000 |
98.210 |
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Imports : |
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|
|
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Others |
NA |
0.000 |
233.191 |
|
Total Imports |
NA |
0.000 |
233.191 |
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Expenditures : |
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Raw Materials
|
4543.500 |
3514.500
|
0.000 |
|
|
Excise
Duty |
190.500 |
183.000
|
0.000 |
|
|
Power
& Fuel Cost |
16.000 |
15..200
|
0.000 |
|
|
Other
Manufacturing Expenses |
87.200 |
59.400
|
0.000 |
|
|
Employee
Cost |
335.900 |
257.600
|
0.000 |
|
|
Selling
and Administration Expenses |
252.200 |
228.900
|
0.000 |
|
|
Miscellaneous
Expenses |
122.300 |
133.400
|
0.000 |
|
|
Other Expenditure |
0.000 |
0.000 |
81.237 |
|
Total Expenditure |
5547.600 |
4392.000 |
81.237 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
|
|
30.06.2007 1st
Quarter |
|
Type |
|
|
|
|
Sales
Turnover |
|
|
1307.400 |
|
Other
Income |
|
|
12.500 |
|
Total
Income |
|
|
1319.900 |
|
Total
Expenditure |
|
|
1187.300 |
|
Operating
Profit |
|
|
132.600 |
|
Interest |
|
|
41.400 |
|
Gross
Profit |
|
|
91.200 |
|
Depreciation |
|
|
25.900 |
|
Tax |
|
|
25.500 |
|
Reported
PAT |
|
|
39.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Debt-Equity
Ratio |
|
1.89 |
1.93 |
|
Long
Term Debt-Equity Ratio |
|
0.75 |
0.56 |
|
Current
Ratio |
|
1.20 |
1.16 |
|
TURNOVER
RATIOS |
|
|
|
|
Fixed
Assets |
|
4.08 |
3.59 |
|
Inventory |
|
6.02 |
5.53 |
|
Debtors |
|
3.75 |
3.15 |
|
Interest
Cover Ratio |
|
1.96 |
1.50 |
|
Operating
Profit Margin(%) |
|
9.87 |
11.94 |
|
Profit
Before Interest And Tax Margin(%) |
|
7.24 |
9.42 |
|
Cash
Profit Margin(%) |
|
4.70 |
4.64 |
|
Adjusted
Net Profit Margin(%) |
|
2.07 |
2.11 |
|
Return
On Capital Employed(%) |
|
17.90 |
18.10 |
|
Return
On Net Worth(%) |
|
15.20 |
12.19 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2007 |
|
PAT / Total Income |
(%) |
|
|
3.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
5.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
165.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
6.67 |
|
|
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
2.13 |
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.48 |
STOCK PRICES
|
Face Value |
Rs.10.00 |
|
High |
Rs.307.00 |
|
Low |
Rs.295.00 |
LOCAL AGENCY FURTHER INFORMATION
History
The company was incorporated on
Subject is India's leading providers of technology intensive, application specific heavy engineering equipment for use in core infrastructure sectors including cement, chemical plants, defence, construction, engineering plants, fertiliser, hospitals, forestry, inland container depots, irrigation, etc.
TIL
(TILL) was promoted by a group of Scotsmen led by R T Wilson in 1944, as a
dealer of Caterpillar Tractor Company, US, for their earthmoving equipment and
spare parts. In Nov.'55, it became a public limited company by the name Tractor
The Company's business is organized into three major segments i.e Material
Handling,
Construction
Equipment and Power Systems etc.
In 1984, as a part of the diversification, the company acquired through merger,
a unit
manufacturing
process equipment for supply to the chemical industry. TILL manufactures and
markets mobile cranes of 10 MT to 100 MT in diesel, electric and hydraulic
versions and also markets earthmoving equipment of Caterpillar and Hindustan
Motors, for northern and
eastern
modernisation and to augment the long-term
working capital requirements.
The company has a technical collaboration with Grove Europe,
Director Report
PERFORMANCE
Turnover including income from operations for the year under review at
Rs.5877.200 millions represents an increase of 23% compared to Rs.4767.500
millions in the previous year. The profit before tax improved to Rs.286.300
millions from
Rs.188.5 00 millions in the previous year i.e. an increase of 52%.
MYANMAR TRACTORS LTD.
The Wholly Owned Subsidiary Company, Myanmar Tractors Ltd., in the Union
of Myanmar, has achieved a turnover including service income of Rs.418.000
millions (US$ 9.23 M) compared to Rs.481.800 millions (US$ 10.82 M) in the
previous year and a profit after tax of Rs.38.900 millions (US$ 0.86 M)
compared to Rs.19.000 millions (US$ 0.43 M) in the previous year.
TIL OVERSEAS PTE. LTD.
The Wholly Owned Subsidiary Company, TIL Overseas Pte. Ltd., in
TRACTORS
The Wholly Owned Subsidiary Company, Tractors Nepal Pvt. Ltd., in
On a consolidated basis, their Company's Group turnover including income from
operations increased to Rs.786.800 millions from Rs.5658.800 millions in the
previous year and profit after tax increased to Rs.233.200 millions from
Rs.135.100 millions in the previous year.
FINANCE
After providing Rs.102.600 millions as Provision for Taxation, Rs.00.100
million and Rs.34.200 millions for Preference and Equity Dividend respectively,
Rs.149.400 millions is carried forward to Balance Sheet. The Reserves &
Surplus (excluding Revaluation Reserve) of the Company increased from
Rs.552.900 millions to Rs.679.800 millions and the Shareholders' Fund
(excluding Revaluation Reserve) increased from Rs.675.100 millions to
Rs.777.200 millions.
The Reports and Accounts of subsidiary companies are annexed to this
Report along with the statement pursuant to Section 212 of the Companies Act,
1956.
CORPORATE SOCIAL
RESPONSIBILITY
The Company believes in the importance of good corporate citizenship. Corporate
Social Responsibility is an integral part of the corporate vision and TIL believes
that as an organization it has a responsibility to society, community and
environment.
Scholarship schemes for education, promotion of Aids
awareness, family engagement initiatives at the manufacturing plant, supporting
child care programmes, activities during the World Environment Day, providing
Tsunami relief for the disaster struck illustrate this sense of responsibility.
The TIL Welfare Trust, set up in 1995 is continuing in its objective of
providing relief in the form of education, medical and financial support to the
needy.
Other initiatives include sponsorship to support underprivileged children near
a village situated in West Bokaro of
ENVIRONMENT
The Company is strengthening its initiatives towards sustainable development in
various areas of economic, environmental and social issues of the business. The
Company believes that good environmental management is a pre-requisite to good
business performance and has committed itself to continual improvement in
environment performance by setting targets and reviews at every stage of
production and services
TOTAL ENERGY
CONSUMPTION AND ENERGY CONSUMPTION PER UNIT OF PRODUCTION
A. Power and fuel consumption
Year ended Year ended 31.03.2007 31.03.2006
Electricity
Purchased Units 1752327 1709357 Total amount (Rs. In millions) 9.502 9.234 Rate
Per Unit (Rs.) 0.542 0.540 b) Own Generation Through Diesel Generator Units
13873.500 8172.000 Units per litre 0.330 0.349 Cost per unit (Rs.) 0.871
0.921
Consumption per unit of Production
Standard Year ended Year ended Unit 31.03.2007 31.03.2006
Product - Cranes & DG Sets
Electricity(in 000) Nos. 4.00* 4.71
*Comparison with previous year not relevant because of change in product
mix and capacity utilisation.
FORM - B
TECHNOLOGY ABSORPTION
Research and
Development
1. Continuous research process is on in the areas of upgrading existing
models and specialized products with the application of renowned technology
transferred from global leaders.
2. Benefits Derived : With the adaptation and implementation of latest
technology, the Company's products have been well accepted in the market and
remained market leader in the industry it operates.
3. Plan of Action: With the technology absorption, various existing as
well as tailor made products as required by the market are being developed to
meet the complex need of user sectors.
4. Expenditure on R&D Rs. in Lakhs a) Capital Expenditure Nil
b) Recurring (Including Market Research and Development) 63.45 c) Total
Expenses 63.45
d) Total as % of Turnover 0.11%
POWER SYSTEMS
SOLUTION (PSS)
Power situation remaining difficult resulted in significant growth in demand
for Diesel Generating Sets resulting in 18% growth in revenue during the year
under review.
The Company has continued its strong presence in the gas Genset demand in Real
Estate and Manufacturing Sectors. Segmented sales approach and the continued
focus in the construction and infrastructure sectors resulted in high market
share for TIL DG Sets in this particular sector. TIL supplied 3512 power-packs
for oil rigs for the first time to Oil India Ltd. for their operations at
Dhuliajan in
TIL offers Product Support, packages tailor made for a wide array of customers
ranging from Hydro Power Projects, major infrastructure projects, including 24
x 365 operation and maintenance of gas power plants at IT Parks.
OPPORTUNITIES AND THREATS
The Indian economy continues to register strong upturn, and this
is clear from the macro indicators. The Indian industry recorded 11.3% growth
rate in 2006-07 and the Index of Industrial Production (IIP) during March 2007
posted a growth of 12.9% which is likely to continue in the years to come. The
other economic indicators also reflect a positive trend. A sharp rise in the
rate of investment in economy, a robust growth in the Index of Industrial
Production (IIP), increasing buoyancy in manufacturing and services sectors,
strong FDI inflow, a healthy domestic stock market - these are signs that
overall, the Indian economy is on a sustained growth track.
Fundamentally, a positive investment climate, and the priority on
infrastructure consolidation has drawn international players to
As Per
Web Site
They are
Their product profile consists of material handling equipment, earth moving equipment, industrial generator sets and diesel engines. The product line-up represents some of the finest international brands.
Setup in 1944, their track record of over 5 decades represents on going contributions to Indian infrastructure development :-
- Introducing high-tech, state-of-the-art equipment in the Indian marketplace.
- Enhancing
- Enabling
Technology, Innovation, Leadership
The core infrastructure sectors serviced by us include:-
cement railways tea gardens
engineering plants
forestry roads ports chemical plants
construction
irrigation hospitals oil and
petrochemicals
defence mines hydel power
inland container
depots
fertilizer jute mills steel plants
thermal power
Customer Support
Known as customer support is the base of their commitment to lifetime partnership with the customer. Designed for maximum equipment uptime and worklife, TIL offers total, integrated support:
Pre Purchase Consultancy
Equipment Investment Analysis
Quick Parts Availability
On-Site Service
Engineers "On Call"
Complete equipment rebuild
Regular tailored customer training on operation and maintenance
Support
Centers in
Preventive maintenance planned through Annual Service Contract
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.43 |
|
|
1 |
Rs.82.11 |
|
Euro |
1 |
Rs.55.26 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|