MIRA
INFORM REPORT
|
Report Date : |
23.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
RAIL
TEL CORPORATION OF INDIA LIMITED |
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Registered Office : |
105A, Rail Bhawan, Raisina Road, New Delhi –
110 001 INDIA. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
26.09.2000 |
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Com. Reg. No.: |
55-107905 |
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CIN No.: [Company
Identification No.] |
L64202DL2000GO1107905 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR05222A |
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Legal Form : |
A
Public Sector undertaking under Ministry of Railways. The Company has limited
liability |
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Line of Business : |
Company
is engaged in Providing Communication Facilities
for Railways and for Commercial Purposes. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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
7500000 |
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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 established company of Government of India. Directors are reported as
experienced and respectable businessmen. Payments are reported as slow but
correct. The
company can be considered normal for business dealings at usual trade terms
and conditions. As it
is owned by Government of India, lenders and creditors can feel confident of
its exposure. |
LOCATIONS
|
Registered Office : |
105A, Rail Bhawan, Raisina Road, New Delhi –
110 001 INDIA. |
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Tel. No.: |
91-11-23387221 / 23383527 |
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E-Mail : |
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Website : |
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Corporate
Office : |
10th
Floor, Bank of Baroda Building, 16 Sansad Marg, New Delhi – 110 001 |
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Tel.
No.: |
91-11-51501455 |
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Fax
No.: |
91-11-23311711 |
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E-Mail
: |
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Regional
office |
Shri R. K. Jain Regional General Manager Room No. 27 (2nd Floor) IRCOT Office Building (Behind Shankar Market), New Delhi. Tele No. 91-11-23411088 Fax No. 91-11-23412396 Email: rajeshjain@railtelindia.com Shri J. P. Singh Regional General Manager 3rd Floor New Administrative Building Garden Reach (South Eastern Railway Office Campus), Kolkata, West Bengal Tele No. 91-33-24504988 Fax No. 91-33-24391881 Email: jpsingh@railtelindia.com Shri
R. K. Bahuguna Regional
General Manager 1st
Floor, Churchgate Railway Station, Churchgate, Mumbai, Maharashtra Tele
No. 91-22-22071330 Fax
No. 91-22-22071330 Email:
rkbahuguna@railtelindia.com Shri
A. Seshagiri Rao Regional
General Manager Microwave
Building, Rail Nilayam, Secunderabad – 500 071 Tele
No. 91-40-27820429 Fax
No. 91-40-27820429 |
DIRECTORS
|
Name : |
Mr.
Ramesh Chander Sharma |
|
Designation : |
Chairman
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Address : |
BE 111 DDA SFS Flats, Janakpuri, New Delhi
– 110 058. |
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Name : |
Mr. K K Bajpeyee |
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Designation : |
Managing Director |
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Name : |
Mrs.
Saroj Rajwara |
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Designation : |
Director
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Address : |
6 RCF Flats, Sarojni Nagar, New Delhi. |
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Name : |
Mr. A K Bhatnagar |
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Designation : |
Director
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Name : |
Mr. Mahesh Kumar |
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Designation : |
Director
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Name : |
Mr. S Murali |
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Designation : |
Additional Director |
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Name : |
Mr. Narinder Sharma |
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Designation : |
Additional Director |
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Name : |
Mr. V K Koshy |
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Designation : |
Additional Director |
KEY EXECUTIVES
|
Name
: |
Mr. S C Hans |
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Designation
: |
Company Secretary |
BUSINESS DETAILS
|
Line of Business : |
Company
is engaged in Providing Communication Facilities
for Railways and for Commercial Purposes. |
GENERAL
INFORMATION
|
No. of Employees : |
250 |
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|
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Bankers : |
State
Bank of India, Sansad Marg, New Delhi – 110 001 |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory
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Associates/Subsidiaries : |
All
Government of India Enterprises |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000000000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 10,000.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
234410000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 2344.100 |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
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1] Share Capital |
2344.100 |
2344.100 |
1580.500 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(468.800) |
(8.900) |
(171.100) |
|
|
NETWORTH |
1875.300 |
2335.200 |
1409.400 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
920.000 |
200.000 |
0.000 |
|
|
2] Unsecured Loans |
1250.000 |
1500.000 |
1500.000 |
|
|
TOTAL BORROWING |
2170.000 |
1700.000 |
1500.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
4045.300 |
4035.200 |
2909.400 |
|
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
6880.100 |
7233.900 |
7124.400 |
|
|
Capital work-in-progress |
1841.600 |
1056.400 |
531.200 |
|
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
9.100
|
4.100 |
4.700 |
|
|
Sundry Debtors |
43.800
|
30.200 |
4.900 |
|
|
Cash & Bank Balances |
366.800
|
371.900 |
432.000 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
313.900
|
226.200 |
103.300 |
|
Total Current Assets |
733.600
|
632.400 |
544.900 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
5409.400
|
4891.300 |
5300.000 |
|
|
Provisions |
0.600
|
0.200 |
0.100 |
|
Total Current Liabilities |
5410.000
|
4891.500 |
5300.100 |
|
|
Net Current Assets |
(4676.400)
|
(4259.100) |
(4755.200) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
4.000 |
9.000 |
|
|
|
|
|
|
|
|
TOTAL |
4045.300 |
4035.200 |
2909.400 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
627.000 |
344.600 |
135.800 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
(100.100) |
(195.000) |
(157.500) |
|
Provision
for Taxation |
2.600 |
0.000 |
0.000 |
|
Profit/(Loss)
After Tax |
(102.700) |
(195.000) |
(157.500) |
|
|
|
|
|
|
Total
Expenditure |
621.700 |
342.800 |
134.100 |
KEY
RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
0.92 |
0.85 |
1.94 |
|
Long Term
Debt-Equity Ratio |
0.27 |
0.05 |
0.00 |
|
Current Ratio |
0.10 |
0.09 |
0.14 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
0.07 |
0.04 |
0.03 |
|
Inventory |
85.05 |
74.18 |
44.26 |
|
Debtors |
15.17 |
18.60 |
35.25 |
|
Interest Cover Ratio |
0.22 |
(0.96) |
(2.17) |
|
Operating Profit
Margin(%) |
39.84 |
18.87 |
43.56 |
|
Profit Before
Interest And Tax Margin(%) |
4.99 |
(29.20) |
(103.65) |
|
Cash Profit
Margin(%) |
16.55 |
(11.67) |
(4.23) |
|
Adjusted Net Profit
Margin(%) |
(18.30) |
(59.74) |
(151.44) |
|
Return On Capital
Employed(%) |
0.00 |
0.00 |
0.00 |
|
Return On Net
Worth(%) |
0.00 |
0.00 |
0.00 |
LOCAL AGENCY
FURTHER INFORMATION
History
Railtel Corporation of India Limited has been established in
September 2000 as a Public Sector Undertaking, it is a 100% subsidiary of
Ministry of Railways. It has been set up mainly to utilise the Railway's
communication assets lying idely and to modernize the existing infrastructure
for providing communication facilities for Railways and for commercial
purposes.
Railtel is providing services in Bandwidth at various granularities,
secure and protected OFC Path, 24 strand single mode fibre armoured OFC,
Network Engineered for SDH, Edge & access layer by STM1/4,Network enabled for
IP, ATM, frame delay, Giganet Ethernet and seemless connectivity.
During 2003 the first high speed long distance OFC network connecting
three important points in south viz Bangalore, Chennai and Hyderabad and
covering a length of 1957 kms and thereafter 192 kms in Mumbai - Pune and 309
kms in New Delhi - Jaipur Sections, presently it is covering 93 important
cities.It has also commissioned first Cyber Cafe on Railway Platform in New
Delhi.
The Company is also planning internet facility in trains through its OFC
network.
PROJECTS
In the year 2005-06, RailTel has made considerable progress in building
its network infrastructure and sales and marketing activities.
During the year 2005-2006, 2382 RKMs of OFC was added while 2846 RKMs of OFC was
commissioned with electronics. Total number of Pops (Point of presence) added
during the year was 322. With the above progress, the total OFC laid upto the
end of March, 2006 was 28871 RKMs and total OFC lit was 25269 RKMs. Total
number of PoPs as on 31st March, 2006 were 2407, as compared to 2085 till
31.03.2005, thereby registering an increase of 15.5%.
Substantial progress has been made in commissioning of STM-16 (2.5 GB) backbone
during the last financial year. Till 31st March, 2006 Railtel had commissioned
STM 16 system on 22,822 RKMs adding 18589 RKMs during the last financial year.
Besides, 1244 RKMs of STM-4 (622 MB) network and 2632 RKMs of STM-1 network
were added during the year 2005-06, bringing the total installed capacity of
STM-4 network to 12552 RKMs and STM-1 (155 MB) capacity to 17722 RKMs as on
31st March, 2006.
As regards MPLS-IP network, core routers have been installed at all 13
cities whereas Edge routers have been installed at 24 cities out of 25 cities.
Edge router at Guwahati shall be commissioned shortly. The network would be
fully ready for commercial exploitation by June, 2006.
The Company has outsourced the maintenance of OFC to local agencies with
a view to ensure continued and uninterrupted connectivity in the OFC links.
Besides, the Company is conscious of greater coordination with Indian Railways
to make use of the existing infrastructure for maintenance of OFC and microwave
equipment(s). The Company has targeted to improve efficiency levels to the
extent of 99.5% to ensure customer's satisfaction.
RailTel has already commissioned a cyber cafe/Internet kiosk on platform no. 12
of New Delhi Railway station in June, 2003 to provide facility of high speed
Internet browsing, E-mail, Audio Video chatting, Video Conferencing, IP
telephony etc. Further, provisioning of this facility at 82 Railway Stations
has been planned in the current financial year. Contract for all the 82
stations have been awarded. Based on performance and success of these cyber
cafes, additional stations shall be taken up.
SALES & MARKETING
During the year under report, RailTel has expanded its customer base by
acquiring new clients and at the same time increased the business from the
existing clients. RailTel is presently providing services to major Basic
Service Operators and Cellular Service Operators like AirTel, Hutch, BPL
Mobile, Aircel, Idea Cellular, Tata Tele services, Bharti Infotel, etc. RailTel
is also providing bandwidth services and tower space to internet service
providers, Mobile Service Operators and other service providers like SIFY,
VSNL, Equaint, Pacenet, Cablecom among others. With the launch of MPLS-IP
network, RailTel is slowly but steadily penetrating into corporate VPN market
and expects to garner a substantial chunck of corporate based line and VPN
business in the current financial year.
In the previous financial year, the utilization of RailTel's network has
increased considerably. RailTel has leased 2464 E1s (5 GB) by end of 2005-06,
as compared to 1232 E1s (2.5 GB) leased by the end of 2004-05 which constitutes
an increase of 100% in comparison to previous financial year.
RailTel signed a MoU with PGCIL and GAIL on 28th October, 2005 with the
intention to connect their network and market telecom services jointly. The
primary objective of this alliance is to bring synergies in the area of network
planning and development, integration of the network, proper utilization of the
network resources and working out common tariff policy, developing cost
effective last mile solution and common strategy for product development, sales
and marketing among others.
RailTel has appointed M/s SIFY and M/s VSNL as its franchisees for launching
cyber cafes at 82 railway stations. With the commissioning of these
feature-packed cafes shortly, the traveling passengers and the public can avail
internet browsing, Email services, Voice Over Internet Protocol (VOIP), fax,
video conferencing etc. at Railway Stations. It is also proposed to provide
Wi-Fi hot spot at some of the important stations.
RailTel has already established regional and territorial offices at
Delhi, Kolkata, Secunderabad, Mumbai and territorial offices at Bangalore,
Chennai, Ahmedabad, Jaipur, Chandigarh, Lucknow, Bhubaneswar for project
execution, operation and maintenance of OFC, SDH electronics and routers as
well as sales and marketing of bandwidth, internet leased lines, VPNs, tower
space etc.
RailTel has been offering leased line services to Service Providers under
IP-II licence and ISP services including VPN services under ISP licence with
VPN registration as well as Infrastructure Leasing under IP-I. With the
amendments in the telecom policy with effect from 1st January, 2006, RailTel
decided to migrate to NLD service licence. The Department of Telecommunications
(DoT) has already issued LOI to RailTel for NLD services and agreement is to be
signed shortly. With NLD licence, RailTel envisages to aggressively enter into
lucrative corporate leased line market in addition to offering VPN
services.
RailTel participated in 4th International Telecommunication Exhibition
& Conference 'Telecom India 2005' held from 23rd to 25th November, 2005 at
Hotel Grand Hyatt, Mumbai and also in Convergence India 2006 held from 21st to
23rd March, 2006 at Pragati Maidan New Delhi. RailTel made a good impact in
this exhibition and showcased its product and services. The stall of RailTel
attracted a lot of attention and was visited by large number of visitors.
RailTel's Regional Office at New Delhi has been able to obtain ISO 9001:2000
certification in March, 2006 from International Certification Limited. (ICO).
Other regions have been advised to follow. In addition, corporate office is
also expected to obtain ISO 9000 certification during the current financial
year.
CAPITAL STRUCTURE
The authorized capital of the Company is Rs.
10000.000 Millions. As on 31st March, 2006, the issued, subscribed and paid up
share capital of the Company stood at Rs. 2340.000 Millions including Rs.
2190.000 Millions equity allotted for consideration other than cash against the
OFC related assets of Railways. Further shares would soon be allotted against
the OFC related assets already transferred to RailTel by Indian Railways.
FINANCIAL RESULTS
During the financial year 2005-06, RailTel has received total revenue of Rs.
880.000 Millions which is 34.68% higher than the revenue receipt of Rs.653.400
Millions for the financial year 31st March, 2005. Out of this revenue, the
income recognized and included in the Profit & Loss Account for the year
ended 31st March, 2006 amounted to Rs. 626.900 Millions as against that of Rs.
344.600 Millions including the interest income but before the interest income
during construction period transferred to capital work in progress.
The operating profit earned during the year is Rs. 336.600 Millions
before interest, depreciation and tax as against that of Rs. 186.100 Millions
in the preceding year. After providing for interest and depreciation, the net
loss amounted to Rs. 100.000 Millions as against that of Rs. 195.000 Millions
incurred during the preceding financial year. Such loss together with the
previous years' losses have been carried over to Balance Sheet.
The Company has availed of loan finance from its Bankers to the extent of Rs.
920.000 Millions upto the end of financial year to meet in part the capital
expenditure requirement. As earlier reported, RailTel has also made drawal of
funds to the extent of Rs. 1500.000 Millions from Indian Railway Finance
Corporation (IRFC).
INDUSTRIAL RELATIONS
Cordial industrial relations were maintained during the year.
The total number of employees on the roll of the Company as at 31st March, 2006
were 193. Besides, the Company resorted to direct recruitment of 74 no of
Engineers on contractual basis. In addition to the above, the Company had
outsourced the services of 196 personnel in different capacities to facilitate
work.
RailTel is also signing an MoU with the Government of India, Ministry of Railways thereby laying inter alia the physical and financial targets for the year 2006-07.
BUSINESS
Indian Railways have well established construction wings on their 9 zonal Railways. Besides, Railway electrification project units located at Ambala, Danapur (Patna), Bhubneshwar, Chennai, Ranchi, Surat, Vishakhapatnam and Lucknow are executing optical fibre cable laying works. Railways can, therefore, start building their broadband network straightaway by taking up works on various routes simultaneously giving priority to missing links for providing early interconnectivity of important cities/metros. As and when of OFC link connecting important cities in completed, leasing of channels can start to generate funds / revenue for expanding the network, paying annual lease charges for ROW and reimburse part of cost of existing OFC and microwave assets transferred to the corporation from first year itself.
The Government of India has already approved formation of a corporation under Ministry of Railways to undertake the above activities.
Mr. A. K. Chopra has been appointed as Officer on Special Duty, RailTel Corporation of India Limited.
M/s. McKinsey & Company have already been appointed to prepare business plan for the corporation.
Railways have a nation-wide ‘right of way’ along 62,800 route km of Railway track which passes through over 7,000 stations generally located in central areas of small, medium, large towns and metros.
Railway’s nation-wide network inter-connects every station, yard/terminal, divisional control office, level crossing gate, and emergency control points located all along the Railway track for train operation, safety, signaling and accident management systems.
Railways have their own extensive telecom network consisting of 20,000 route km of Microwave radio system, 12,000 route km of trunk cables, 3,000 route km of OFC and 43,500 km of over head line wires. After DOT, only Railways own such an extensive nation-wide telecon network. Besides above, OFC works on 4268 route km are in advanced stage of execution. Also, OFC works sanctioned on another 6656 route km during current financial year are being taken in hand.
RailTel has been set up primarily to exploit Railways' communication assets lying idle commercially. Railways have built a large telecom infrastructure over years for meeting their own communication requirement for train operation and safety.
RailTel will augment and modernise the existing infrastructure for providing communication facilities to Railways and for commercial purposes.
OBJECTIVES
“To expeditiously modernise railways train control, operational and safety systems and networks.”
"To create a nationwide broadband telecom and multimedia network to supplement national telecom infrastructure to spur growth of telecom internet and IT enabled value added services in all parts of the country specially rural, remote and backward areas.”
“To significantly contribute to realisation of goals and objectives of National Telecom Policy, 1999” and
"To generate much needed revenues for implementing Railways’ development projects, safety enhancement and asset replacement programmes”.
SERVICES & TECHNOLOGY
v RailTel would be offering services in following arena:
v Bandwidth Services (From 64 Kbps to 155 Mbps and 2.5 Gbps)
v Tower Space for mounting of Antennae ( More than 600 towers available nationwide)
v Virtual Private Network (VPNs)
v National Long Distance
v Voice Over IP
Bandwidth Services
RailTel has already taken
IP I & IP II license so as to sell the surplus capacity available on the
existing OFC map of Indian Railways. RailTel is uniquely positioned to provide
these services with following features.
Bandwidth at various granularities
Secure and protected OFC path.
24 Strand single mode fibre armoured OFC
Network engineered for SDH, ( DWDM planned)
Edge & access layer by STM1/4
Network enabled for IP, ATM, frame relay, Gigabit Ethernet and seemless
connectivity.
Extensive reach although STM-1 dropping at every small/ remote location.
Centralized and regional NMSs.
WHAT IS RAILTEL?
- RailTel Corporation of India Limited is a
Public Sector Company Undertaking by Ministry of Indian Railways having IP-1,IP-2, Cat 'A' ISP & NLD
Licenses. RCIL has already established over 28000 Kms OFC Network covering 2500 POPs across the country.
It would be extending to 42000Km
by 2008 thus creating over 4000
POPs.
- Network & Technology:
RailTel has built state of the art STM-16 network using latest SDH
Technology for Long Haul Communication. The complete Network is managed by
Centralized Network Management System located at New Delhi with backup at
Secundrabad / Kolkata. RailTel has got the unique advantage to meet the
quality bandwidth and service requirement from single network. The state of the
art network enables point and click provisioning of the bandwidth between
different locations across the country .The network is available with 100% redundancy.
It enables transfer of high bandwidth IP, ATM, Frame Relay, Gigabit Ethernet
and other kind of Data services.
RailTel all POPs has access layer of STM-1 spaced at 8-10 Km &
edge layer network STM-4 spaced at 40-60 Km in order to aggregate traffic
from access layer thus connecting important towns/cities including rural areas
of the country.
RailTel has also implemented countrywide MPLS IP backbone network
to provide whole range of Internet and VPN services. The network has been built
using high end Router from Juniper Networks.
HISTORY
OF COMMUNICATION IN RAILWAYS
With a view to improve the
communication network on Indian Railways for better train operations, the first Optic Fibre Cable system was
commissioned on Indian Railways on 3rd of December, 1988 between Churchgate to
Virar stations of Western Railway for a distance of 60 Kms. This was
provided with imported Optic Fibre Cable and electronics.
Subsequently, the Optic Fibre
Cables were provided as part of Railways Electrification for Bhusawal-Itarsi,
Itarsi-Nagpur and Nagpur-Durg sections for a distance of 872 Kms. This was
commissioned during 1990-91.
During 90's the next major network was provided in Konkan Railway for a
distance of 920 Kms, which was commissioned during 1997-98.
It was during 1996, the Railway
took a major policy decision to provide Optic Fibre Cables as a better and
economical medium of communication instead of copper cable. It was decided that
as a part of Railway Electrification, Optic Fibre Cables will be provided along
with smaller size 4-quad copper cable. The 4-quad cable is mainly provided for
providing block communication, emergency communication from sockets provided at
every one kilometer by the side of the track and connecting level crossing
gates, while other circuits for control & trunk telephones are on OFC.
RailTel Corporation of India
Limited was formed on 26th of September, 2000 specifically with a view to
provide Optic fibre Cables in the entire Indian Railways not only to meet with
the Railways requirements but also to make commercial exploitation of the same.
|
Year-wise Commissioning of OFC on Indian
Railways |
|||
|
S. No. |
Year |
Total |
Cumulative |
|
1 |
1988-89 |
60 |
60 |
|
2 |
1991-92 |
872 |
932 |
|
3 |
1992-93 |
0 |
932 |
|
4 |
1993-94 |
0 |
932 |
|
5 |
1994-95 |
0 |
932 |
|
6 |
1995-96 |
80 |
1012 |
|
7 |
1996-97 |
63 |
1075 |
|
8 |
1997-98 |
248 |
1323 |
|
9 |
1998-99 |
1272 |
2595 |
|
10 |
1999-00 |
1002 |
3597 |
|
11 |
2000-01 |
1779 |
5376 |
|
12 |
2001-02 |
774 |
6150 |
|
13 |
2002-03 |
4705 |
10855 |
|
14 |
2003-04 |
5945 |
16800 |
|
15 |
2004-05 |
6323 |
23123 |
|
16 |
2005-06 |
2146 |
25269 |
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 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.44.28 |
|
UK
Pound |
1 |
Rs.86.64 |
|
Euro |
1 |
Rs.58.10 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|