MIRA
INFORM REPORT
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Report Date : |
06.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
BAGLA TOTAL SOLUTIONS - UNIT OF AURANGABAD ELECTRICALS LIMITED |
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Registered Office : |
Plot No. B-7, MIDC,
Chakan, Village Mahalunge, Tq. Khed, Pune – 410501, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.09.1985 |
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Com. Reg. No.: |
11-37539 |
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CIN No.: [Company
Identification No.] |
U31909PN1985PLC037539 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA04895C |
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Legal Form : |
A closely held
Public Limited Liability Company. |
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Line of Business : |
To carry on the business
of manufacturing, assembling, processing, importing, fabricating and dealing
in various kinds of electrical and electronic parts, components, instruments,
magnets, head-lamps, tail lamps required for scooter and other motorized
vehicles. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 2700000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Trade relations are fair.
Payments are usually correct and as per commitments. The company is fairing
well. It can be
considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered
Office : |
Plot No. B-7,
MIDC, Chakan, Village Mahalunge, Tq. Khed, Pune – 410501, Maharashtra, India |
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Tel. No.: |
91-2135-259157 /
91-240-554422 / 91-2431-251482 |
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Fax No.: |
91-2135-280007 /
91-2431-251488-9 |
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E-Mail : |
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Website : |
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Factory 1 : |
B-23, MIDC,
Waluj, Aurangabad, Maharashtra, India |
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Tel. No.: |
91-240-2555991/2556826 |
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Fax No.: |
91-240-2554751 |
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E-Mail : |
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Websites: |
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Factory 2 : |
Gut No. 120,
Village Pangara, Paithan Road, Chitegaon, Aurangabad – 431105, Maharashtra,
India |
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E-Mail : |
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Factory 3 : |
M-135/136, MIDC,
Waluj, Aurangabad, Maharashtra, India |
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E-Mail : |
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Factory 4 : |
At. Pimpalgaon,
Tq. Parner, Dist. Ahemadnagar |
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Factory 5 : |
Plot No. B-7, MIDC,
Chakan, Village Mahalunge, Taluka Khed, Dist. Pune, Maharashtra, India. |
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E-Mail : |
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Factory 6 : |
Plot No. L6/1,
MIDC, Waluj, Aurangabad, Maharashtra, India |
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E-Mail : |
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Factory 7 : |
Gate No. 217, Near Toll Naka, Post Chitegaon, Tal, Paithan, District,
Aurangabad – 431 105, Maharashtra, India
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Tel. No.: |
91-240-2350161 |
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Fax No.: |
91-240-2350161 |
DIRECTORS
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Name : |
Mr. Raj Narayan
Bagla |
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Designation : |
Managing Director |
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Address : |
Gut No. 40,
Golwadi, Paithan Road, Aurangabad, Maharashtra, India |
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Date of Birth
: |
15.02.1926 |
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Date of
Appointment : |
24.09.1985 |
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Name : |
Mr. Rishi Kumar
Bagla |
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Designation : |
Director |
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Address : |
Gut No. 40,
Golwadi, Paithan Road, Aurangabad, Maharashtra, India |
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Date of Birth
: |
21.06.1960 |
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Date of
Appointment : |
23.09.1985 |
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Name : |
Mr. Radhey Sham
Gupta |
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Designation : |
Director |
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Address : |
18, Bahrat Nagar,
Nr. Jyoti Nagar, Aurangabad, Maharashtra, India |
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Date of Birth
: |
01.04.2005 |
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Date of
Appointment : |
20.09.2002 |
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Date of
Ceasing : |
01.04.2005 |
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Name : |
Mrs. Mamata Bagla |
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Designation : |
Director |
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Address : |
Gut No. 40, Golwadi,
Paithan Road, Aurangabad, Maharashtra, India |
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Date of Birth
: |
12.07.1963 |
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Date of
Appointment : |
01.04.1994 |
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Name : |
Mr. Muneesh
Chawla |
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Designation : |
Director |
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Address : |
A 702, Gurgaon –
122002, Haryana, India |
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Date of Birth
: |
05.01.1967 |
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Date of
Appointment : |
23.03.2006 |
KEY EXECUTIVES
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Name : |
Mr. Prem Chand
Agarwal |
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Designation : |
Company Secretary |
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Address : |
G-29, Raj
Apartments, Town Centre, Cidco, Aurangabad – 431003. |
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Date of
Birth/Age : |
15.07.1959 |
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Date of
Appointment : |
15.06.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names
of Shareholders |
No. of Equity Shares |
No. of Preference Shares |
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Mr. Rishi Kumar
Bagla |
56100 |
22650 |
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Mrs. Mamata Bagla |
39000 |
16500 |
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Mr. Raj Narayan
Bagla |
118650 |
5250 |
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Ms. Neha Bagla |
24750 |
15000 |
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Ms. Devanshi
Bagla |
24000 |
14925 |
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Mr. Raj Narayan
Bagla (HUF) |
13500 |
500 |
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Mr. Rishi Kumar
Bagla (HUF) |
18000 |
1000 |
|
Waluj Investment
and Trading Company Private Limited |
137950 |
1850 |
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Deccan Carbon Products
Private Limited |
208550 |
17000 |
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Aurangabad Motor
manufacturers Private Limited |
247500 |
5325 |
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Equity Share Breakup |
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Category |
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Percentage of Holding |
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Foreign holdings [Foreign
institutional investors, Foreign Companies, Foreign Financial Institutions,
Non-resident Indian or Overseas corporate bodies or others] |
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22.11 |
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Bodies
corporate |
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52.10 |
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Directors
or relatives of directors |
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25.79 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
To carry on the
business of manufacturing, assembling, processing, importing, fabricating and
dealing in various kinds of electrical and electronic parts, components, instruments,
magnets, head-lamps, tail lamps required for scooter and other motorized
vehicles. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
· The Saraswat Cooperative Bank Limited CODCO Branch Aurangabad Maharashtra · ING Vysya Bank Limited Nirala Bazar, Aurangabad – 431005, Maharashtra, India · Kotak Mahindra Bank Limited 418/424, 4th Floor, Sohrab Hall 21, Sasoon Road, Pune –
411001 · Indian Overseas Bank Aurangabad Branch, Aurangabad |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S R Batliboi and
Company Chartered
Accountants |
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Address : |
6th Floor,
Express Towers, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Associates/Subsidiaries : |
v
Aurangabad
Motors Manufacturing Private Limited v
Deccan
Carbon Products Private Limited v
Aurangabad
Carbon Products Private Limited v
Deccan Industrial
suppliers Carbon Products Private Limited v
BG LI IN
Electrics Private Limited v
Rama
Packagers Private Limited v
Aurangabad
Whee’s and Ram Private Limited v
Waluj
Investment and Trading Company Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs.100/- |
Rs.125.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1140000 |
Equity Shares |
Rs.100/- |
Rs.114.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
114.000 |
98.800 |
37.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
572.247 |
53.188 |
62.160 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
686.247 |
151.988 |
99.660 |
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LOAN FUNDS |
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1] Secured Loans |
1008.270 |
579.190 |
457.285 |
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2] Unsecured Loans |
150.863 |
54.694 |
50.000 |
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|
0.000 |
173.678 |
179.785 |
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TOTAL BORROWING |
1159.133 |
807.562 |
687.070 |
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DEFERRED TAX LIABILITIES |
111.975 |
86.325 |
69.601 |
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TOTAL |
1957.355 |
1045.875 |
856.331 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1273.260 |
748.681 |
640.586 |
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Capital work-in-progress |
15.880 |
1.301 |
10.250 |
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INVESTMENT |
8.707 |
13.525 |
11.887 |
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DEFERREX TAX ASSETS |
0.000 |
1.734 |
24.395 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
235.560
|
173.021
|
102.674 |
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Sundry Debtors |
400.009
|
226.618
|
164.124 |
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Cash & Bank Balances |
354.965
|
38.957
|
29.598 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
147.502
|
71.385
|
51.042 |
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Total
Current Assets |
1138.036
|
509.981
|
347.438
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
472.246
|
222.868
|
173.752 |
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Provisions |
6.572
|
7.436
|
4.569 |
|
Total
Current Liabilities |
478.818
|
230.304 |
178.321 |
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Net Current Assets |
659.218
|
279.677
|
169.117 |
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MISCELLANEOUS EXPENSES |
0.290 |
0.957 |
0.096 |
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TOTAL |
1957.355 |
1045.875 |
856.331 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
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Sales Turnover |
2023.537 |
1581.712 |
1258.602 |
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Other Income |
47.165 |
34.313 |
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Total Income |
2070.702 |
1616.025 |
1258.602 |
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Profit/(Loss) Before Tax |
140.016 |
105.312 |
127.645 |
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Provision for Taxation |
40.402 |
47.783 |
23.148 |
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Profit/(Loss) After Tax |
99.614 |
57.529 |
32.877 |
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Earnings in
Foreign Currency : |
NA |
27.542 |
6.421 |
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Imports : |
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Raw Materials |
NA |
77.695 |
19.053 |
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Capital Goods |
NA |
61.999 |
44.869 |
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Total Imports |
NA |
139.694 |
63.922 |
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Expenditures : |
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Raw Material Consumed |
1175.310 |
897.511 |
872.838 |
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Consumption of stores and spares parts |
84.254 |
57.420 |
0.000 |
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Increase/(Decrease) in Finished Goods |
[63.479] |
[26.205] |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
129.085 |
109.468 |
0.000 |
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Managerial Remuneration |
8.215 |
3.887 |
0.000 |
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Payment to Auditors |
0.746 |
0.289 |
0.000 |
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Interest |
58.483 |
47.627 |
0.000 |
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Insurance Expenses |
3.177 |
2.983 |
0.000 |
|
|
Power & Fuel |
109.981 |
81.847 |
0.000 |
|
|
Depreciation & Amortization |
107.354 |
93.327 |
71.763 |
|
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Other Expenditure |
317.560 |
242.558 |
277.118 |
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Total
Expenditure |
1930.686 |
1510.712 |
1221.719 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
4.81
|
3.56 |
2.61 |
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Net Profit Margin (PBT/Sales) |
(%) |
6.92
|
6.66 |
10.14 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.81
|
8.37 |
12.92 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.69 |
12.63 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.39
|
6.83 |
8.68 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
2.21 |
1.95 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
v
Leasehold Land
v
Freehold Land
v
Plant and
Machinery
v
Electrical
Installation
v
Factory
Equipments
v
Furniture and
Fixture
v
Vehicles
v
Computer
v
Office
Equipments
v
Software
v
Tools
Trade Terms
with
v
Aicast Foundry
Private Limited
v
Arivnd Forge
Private Limited
v
Apex
Engineering Private Limited
v
Aurangabad
Auto Engineering Private Limited
v
BG LI IN
Electrical Private Limited
v
Chirag
Enterprise
v
Dear Auto
Comps Private Limited
v
Gaurav
Engineers
v
High Tensile
Fastnurs Private Limited
v
Jaggy
Industrial Plastics
v
Jayshree
Polymers Private Limited
v
Kanchan PCB
Products
v
Khosla
Engineering Private Limited
v
Satluz
Engineering Private Limited
v
Micro Screw manufacturing
Company Private Limited
v
Precimetcut
Tooling Private Limited
v
Sangkaj Steel
Limited
v
Optmech
Engineering Private Limited
v
Smithship
Plastics Industrial Private Limited
Fasteners
Plants: Fasteners are widely used in all types of
engineering industry, automobile industry and other equipments manufacturing
industry. Keeping in view the huge demand of
high tensile fasteners in India and abroad a new plant is being set up
at Aurangabad for manufacture of such fasteners with a capacity of around 400
MT p.m. trial production of this plant is also likely to start by January, 2006
Wind Mill: the company has also placed order for
setting up one new wind mill in Sangli District with capacity of power
generation upto 1.254 MW.
Form 8:
Bankers Charges Report
as per Registry
|
Name of the company |
AURANGABAD
ELECTRICALS PRIVATE LIMITED |
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Presented
By |
Mr.
Prem Chand Agarwal |
|
1) Date and
description of instrument creating the change |
Agreement of
Hypothecation of Movable Property dated 25th August, 2005 for Rs.
78.500 millions Recording letter
evidencing deposit of title deeds dated 25th August, 2005 for Rs.
40.000 millions Both constituting
a single charge |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 118.500
millions |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Hypothecation of
plant and machinery and other fixed assets of company’s Plant VII at Gut No
217 VII Chitegaon, Tq. Palthan, Aurangabad Equitable
mortgage of land and building at Gut No 217 VII Chitegaon, Tq. Palthan,
Aurangabad |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The security is being
created to cover term loan of Rs. 108.500 millions on following terms : Interest : PLR
1.50 % = 9.50 % p.a. with monthly rests Repayments :
Within 63 months from the date of disbursement as under 47 monthly
installments of Rs. 225.000 millions each and 48th installments of
Rs. 275.000 millions with moratorium of 15 months Margin :
Land and Building 25 % Plant and
Margine : 25 % others fixed assets |
|
5) Name and
Address and description of the person entitled to the charge. |
The Saraswat Cooperative Bank Limited CODCO Branch Aurangabad Maharashtra |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
|
Name of the
company |
AURANGABAD
ELECTRICALS PRIVATE LIMITED |
|
Presented
By |
Mr.
Prem Chand Agarwal |
|
1) Date and description
of instrument creating the change |
Unattested Deed
of Hypothecation dated 16th June 2005 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 100.000
millions |
|
3) Short particular
of the property charged. If the property acquired is subject to charge, date
of the acquired of the property should be given |
Second charge on
Plant and Machinery and other assets of company’s plant – III at Gut No. 120
Pangra, Near Chitegaon, paithan, Aurangabad, Maharashtra |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest: 8.50 %
p.a. monthly rests. This is based on : Bank rate as
prescribed by RBI form time to time which 6 % is presently. However in the
event the Bank rate increased the
increase in 6.50 % would be added to the above rate of 8.50 % p.a. Repo rate, as
prescribed by RBI form time to time which is presently 5 %. However in the
Repo rate increased the increase in
rate p.a. 5.50 % would be added to the above rate of 8.50 % p.a. Repayments : in
30 monthly instilment 5 installment of
Rs. 2.500 millions each and remaining 25 installment of Rs. 3.500
millions after a moratorium of 6 months |
|
5) Name and
Address and description of the person entitled to the charge. |
Kotak Mahindra Bank Limited 418/424, 4th Floor, Sohrab Hall
21, Sasoon Road, Pune - 411001 |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
|
Name of the
company |
AURANGABAD
ELECTRICALS PRIVATE LIMITED |
|
Presented
By |
The
Saraswat Co – Operative Gajanan
Maharaj Mandir Branch, Aurangabad |
|
1) Date and
description of instrument creating the change |
Dated 12th
April 2005 Bank Guarantee |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 16.666
millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Charge on current
assets of the company. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
As per Bank Rule |
|
5) Name and
Address and description of the person entitled to the charge. |
The Saraswat Co – Operative Gajanan Maharaj Mandir
Branch, Aurangabad |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
|
Name of the
company |
AURANGABAD
ELECTRICALS PRIVATE LIMITED |
|
Presented
By |
Mr.
Prem Chand Agarwal |
|
1) Date and
description of instrument creating the change |
18th December,
2004 Letter of Hypothecation |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 60.000
millions |
|
3) Short
particular of the property charged. If the property acquired is subject to charge,
date of the acquired of the property should be given |
Building, Plant
and Machinery at B – 7 MIDC Chakan Pune Bill accepted by
Bajaj Auto Limited |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Consisting of
term loan of Rs. 40.000 millions and Bills discounting Rs. 20.000 millions Interest : Term
Loan PTLR + 1.5 % p.a. Min 13.5 % Bills discounting11 % Margin for term
loan : 55 % |
|
5) Name and
Address and description of the person entitled to the charge. |
Indian Overseas
Bank Aurangabad
Branch, Aurangabad |
|
6) Date and brief description of instrument
modifying the charge |
20th
November, 2004 Letter of
Hypothecation |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Original charge
was created on 18.12.2002 By equitable
mortgage deed dated 31.01.2003 further security is created in favour of the
Bank in respect of term loan portion of Rs. 40.000 millions On 12.02.2004
bill discounting facility was enhanced from Rs. 20.000 to Rs. 40.000 thus increasing the total
limits to Rs. 80.000 millions On 31.03.2004 the
term loan was enhanced form Rs. 40.000 millions to Rs. 70.000 millions and
Bills discounting facility was also enhanced to Rs. 55.000 millions. Letter
of guarantee limit and letter of credit limit of Rs. 2.000 millions each was
also covered by hypothecation. Thus the total limit of credit facilities were
increased from Rs. 80.000 to Rs. 129.000 millions By bank letter
No. LCTL / AEPL 2004-05 dated 01.06.2004 the then outstanding of Rs. 34.000
millions in the rupee term loan of Rs. 40.000 millions was covered into
foreign currency term loan and rate of interest was revised to 6 M LIBOR +
400 bps Now the term loan
is enhanced from Rs. 70.000 millions to Rs. 97.500 millions and letter of
Credit and letter of guarantee limits of Rs. 2.000 millions each are enhanced
to Rs. 5.000 millions each thus increasing the total limit of credit
facilities form Rs. 129.000 millions to Rs. 162.500 millions |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
90086881 |
|
Corporate
identity number of the company |
U31909PN1985PLC037539 |
|
Name of the
company |
AURANGABAD
ELECTRICALS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
Plot No. B-7,
MIDC, Chakan, Pune – 410501, Maharashtra, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
ING Vysya bank
Limited Nirala Bazar, Aurangabad
– 431005, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
general hypothecation agreement |
|
Date of
instrument Creating the charge |
28.05.2007 |
|
Amount secured by
the charge |
Rs. 125.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Post shipment limit
/ EBRD [with a sub-limit for PCL/PCFC] : For rupee: IVRR
minus 4.25 % p.a. For foreign
currency : as per RBI norms / market determined ILC / FLC:
commission as per bank norms. Terms of repayment Post shipment
limit / EBRD [with a sub-limit for PCL/PCFC] : Repayable on
demand [maximum tenor : 90 days] ILC/FLC : Repayable on
Demand [maximum tenor : 90 days for raw material and 180 days for capital
goods] Margin Post shipment
limit / EBRO [with a sub-limit for PCL/PCFC] : 10 % ILC/FLC : 10 % Extent operation of the charge : Current assets of
company’s Plant –III at Gut No. 120/122, Village Pangra, Tq. Parner, Dist.
Ahemadnagar |
|
Short particulars
of the property charged |
Current assets of
company’s Plant –III at Gut No. 120/122, Village Pangra, Tq. Parner, Dist.
Ahemadnagar |
|
Date of latest
modification prior to the present modification |
19.10.2004 |
|
Particulars of
the present modification |
|
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.43 |
|
UK Pound |
1 |
Rs.81.35 |
|
Euro |
1 |
Rs.57.83 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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 |
|