MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
DEMAG CRANES AND COMPONENTS INDIA PRIVATE LIMITED |
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Formerly Known As : |
MANNESMANN DEMATIC [ |
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Registered Office : |
Demag Centre, S-255/2,
Hinjewadi, Pune – 411027, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.07.1997 |
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Com. Reg. No.: |
11-109449 |
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CIN No.: [Company
Identification No.] |
U29299MH1997PTC109449 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNED03871A |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Manufacturers, Traders, Dealers, Exporters and Importers of parts and accessories of electrical industrial machinery. |
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 410000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered/ Head Office/ Factory : |
Demag Centre, S-255/2,
Hinjewadi, Pune – 411027, |
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Tel. No.: |
91-20-4127777/ 66527777 |
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Fax No.: |
91-20-4127700/01/ 66527700 |
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E-Mail : |
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Website : |
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Branches : |
Ø
517, Tel. No. 91-11-25525200/25542452 Fax No. 91-11-25542455 E-mail : dematic.del@vsnl.com Ø
208-212, Contact Person : Mr. Basant Sandooja Tel. No. 91-11-25525200/25542452 Fax No. 91-11-25542455 E-mail : dematic.del@vsnl.com
Ø
15, SNS Chambers, 239, Contact Person : Mr. Kishore Dagia Tel. No. 91-80-3460221 Fax No. 91-80-3347335 E-mail : dematic.blr@vsnl.com Ø
MZ1-Shubham, 1, Sarojini Naidu Sarani, Kolkata
– 700017, West Contact Person : Mr. Sanjay Jain Tel. No. 91-33-22405224 Fax No. 91-33-22810028 E-mail : dematic.cal@vsnl.com Ø
315, Morya Estate, Contact Person : Mr. Rajendra C. Phatak Tel. No. 91-22-26935985 Fax No. 91-22-26935986 E-mail : dematicmum@vsnl.net |
DIRECTORS
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Name : |
Mr. Suhas Baxi |
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Designation : |
CEO and Managing Director |
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Address : |
D-1, Kubera Gulshan, |
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Date of Appointment : |
30.09.2006 |
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Name : |
Mr. Horst Heiber |
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Designation : |
Director |
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Address : |
Rembrandstr 46, 46399, |
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Date of Birth/Age : |
20.07.1949 |
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Date of Appointment : |
20.02.2004 |
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Name : |
Mr. Chandra S Mathur |
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Designation : |
Director |
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Address : |
A 12, Nizamuddin East, New Delhi-110013, |
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Date of Birth/Age : |
10.02.1951 |
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Date of Appointment : |
16.07.1997 |
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Name : |
Mr. Prakash Subramaniam |
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Designation : |
Managing Director |
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Address : |
2, Blossom 11, |
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Date of Birth/Age : |
22.09.1960 |
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Date of Appointment : |
19.03.2002 |
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Name : |
Mr. Vikas Vig |
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Designation : |
Director |
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Name : |
Mr. Detlef Wichert |
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Designation : |
Additional Director |
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Address : |
Wetter ( |
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Date of Appointment : |
30.09.2006 |
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Name : |
Mr. Herald Jods |
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Designation : |
Additional Director |
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Address : |
Schwedlerstr, 4, Berlin-14193, DE |
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Date of Appointment : |
30.09.2006 |
KEY EXECUTIVES
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Name : |
Mr. Samir Ashta |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Basant Sandooja |
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Designation : |
Director (Operations) |
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Name : |
Mr. Vijendra Dande |
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Designation : |
Head - Service |
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Name : |
Mr. Vivek Shesh |
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Designation : |
Vice President Sales |
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Name : |
H |
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Designation : |
Assistant General Manger – Sales (South and East) |
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Name : |
Mr. Adarsh Hegde |
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Designation : |
Assistant General Manager – Sales(North and West) |
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Name : |
Mr. Vivek Jain |
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Designation : |
Company Secretary |
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Address : |
F1002, Sylvan Height, Aundh, Pune-411007, |
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Date of Birth/Age : |
10.04.1970 |
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Date of Appointment : |
13.05.2005 |
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Name : |
Mr. Mahadev Joshi |
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Designation : |
Company Secretary |
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Address : |
G301, Shreeji Paradise, 162, |
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Date of Birth/Age : |
18.05.1970 |
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Date of Appointment : |
27.09.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Demag Cranes and Components GmbH |
299999 |
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Mr. Heiber J Horst |
1 |
As on 31.03.2006
Foreign holdings 100%
BUSINESS DETAILS
GENERAL INFORMATION
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No. of Employees : |
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Bankers : |
ABN Amro Bank, 327, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deloitte Haskins & Sells, Chartered Accountants |
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Address : |
Land Mark, No.42, |
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Parent Company : |
Demag Cranes and Components |
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Associates/Subsidiaries : |
Ø Mannesmann Dematic AG, Ø MDC AG Gottwald Ø MDC AG Zweibrucken |
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Holding Company : |
Demag Cranes and Components GmbH |
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Fellow Subsidiaries : |
v
Donati Solievamenti Srl- v
v
Demag Cranes and Components – v
Demag Cranes and Components ZA – v
Demag Cranes and Components v
Demag Cranes and Components - |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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30.000 |
30.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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73.846 |
32.431 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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103.846 |
62.431 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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103.846 |
62.431 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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21.720 |
23.875 |
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Capital work-in-progress |
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0.172 |
0.172 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.890 |
0.185 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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36.057 |
20.805 |
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Sundry Debtors |
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116.854 |
44.767 |
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Cash & Bank Balances |
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152.788 |
70.844 |
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Other Current Assets |
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1.161 |
0.013 |
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Loans & Advances |
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65.106 |
36.462 |
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Total
Current Assets |
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371.966 |
172.891 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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222.564 |
101.695 |
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Provisions |
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68.338 |
32.997 |
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Total
Current Liabilities |
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290.902 |
134.692 |
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Net Current Assets |
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81.064 |
38.199 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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103.846 |
62.431 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Total Income |
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NA |
NA |
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Profit/(Loss) Before Tax |
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41.415 |
14.748 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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41.415 |
14.748 |
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Total Earnings |
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18.619 |
5.568 |
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Total Imports |
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215.926 |
130.641 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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10.52 |
7.49 |
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Return on Investment (ROI) (PBT/Networth) |
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0.40 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.80 |
2.16 |
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Current Ratio (Current Asset/Current Liability) |
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1.28 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
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Name of the company |
DEMAG CRANES
AND COMPONENETS INDIA PRIVATE LIMITED |
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Presented By |
ABN AMRO BANK N.V. |
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1) Date and description of instrument creating the change |
Facility cum Hypothecation agreement dated 19.10.1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.30.000 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 |
The whole of the current assets of the borrower namely, stocks of raw materials, stocks in process, semi finished and finished goods, stores and spares not relating to plant and machinery, bills receivables and book debts and all other movables, both present and future whether now lying lose or in cases or which are now ling r stored in or about or shall hereinafter from time to Time during the continuance of the security of these present be brought into or upon or be stored or be in or about of the Borrower’s factories, premises and godowns situated tat Pune in the state of Maharashtra or wherever else the same may be or held in by any party to the order or disposition of the borrower or in the course of transit or on in high seas or an order or deliver, in the course of transit or on in high seas or an order or delivery, however and where ever in the possession of the borrower and either by way of substitution or addition. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on all the borrower’s current assets to secure the credit facilities to the extent of granted to the company. Cash credit : CC/OD/Bills Discounted Prime lending rate (currently 16% p.a.) Letters of Credit/ Guarantees : L/Cs – as per standard rates Guarantees -1% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
ABN Amro Bank 327, M Pune-411001 |
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6) Date and brief description of instrument modifying the charge |
Supplemental facility –cum-hypothecation agreement dated 01.11.2001 |
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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. |
Fund based limits remain unchanged at Rs.10.000 millions And Non fund based limit increased from Rs.20.000 millions to Rs.30.000 millions |
HISTORY
Subject was incorporated on 16th July, 1997 at
Pune in Maharashtra under the name ‘Mannesmann Dematic [
BUSINESS
Subject is engaged in as Manufacturers, Traders, Dealers,
Exporters and Importers of parts and accessories of electrical industrial
machinery.
The company is in trade terms with :
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Pune Metagraph
v
Marg Electricals
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B.R. Packing
v
Shital Engineering Works
The company’s product range includes :
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Automatic Hooks
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Block winches
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Cantilever crabs
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DC brake motors
v
Flat conductor lines
v
Gearboxes
v
Helical gearboxes
v
Infloor conveyors
v
Offset geared motors
v
Chain Hoists
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Rope Hoists
v
Load Handling Attachments
v
Motors and Drives
v
Frequency Inverter
v
KBK Crane Construction Kits
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EOT Cranes
v
Storage and retrieval systems
v
Airport Cargo and baggage handling
systems
v
Electrical Monorail Systems
v
Conveyor Systems
v
Mobile Cranes
The company is the world’s market leader for cranes and
hoists.
It provides solutions for material flow and logistics
requirements and drive applications with the most comprehensive range of
products and services for companies ranging from small workshops to the trade
sector and major industrial enterprises.
With a comprehensive product range, the company has three
main business groups : Drives, Handling Technology and Cranes. The company provides special solutions in
various industries for travel applications, ergonomics and load handling at the
workplace, material flow in production and storage as well as harbour
automation. Backing up the above
business groups is a group dedicated to after-sales business and which ensures
the economical use of Demag products with its complete range of services and
thus also continuos customer contact.
The company’s products find applications in various
industries such as :
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Automotive Industry
v
Aviation
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Bulk Material
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Foundries
v
Furniture Storage
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Handling
v
Logistics/warehouse
v
Mechanical engineering
v
Metal processing
v
Miscellaneous
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Navigation
v
Paper industry
v
Printing houses and related operations
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Public utilities
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Recycling
v
Steel handling
v
Steel production
v
Stones /earth
v
Surface treatment
v
Veterinary medicine
v
Wood
Subject employs about 200 persons in its set up.
Website Details :
With the comprehensive product range of its two Cranes and
Handling Technology/Drives business units, Demag Cranes & Components
provides special solutions in various industries for travel applications, ergonomics
and load handling at the workplace and material flow in production and storage.
The third business unit is dedicated to Service and ensures the economical use
of Demag products with its complete range of services, and thus also lasting
customer satisfaction. Complete control of their own products and understanding
the customer's processes, speaking the customer's language and finding the best
solutions together, are the commitment resulting from a company history going
back more than 180 years.
Cranes and components expertise
History is based on facts and history results in change. The
history of subject began in 1819 with the establishment of Mechanische
Werkstätten Harkort & Co. in Wetter an der Ruhr. The company already
started manufacturing overhead travelling cranes in 1840, concentrating on the
production of cranes and crane components at an early date, also including
hoist units with an electric drive since 1910.
Today, subject is a global player with locations in
History
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1819 |
Establishment of Mechanische
Werkstätten |
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1840 |
Start of overhead travelling
crane production. |
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1910 |
Start of production of hoists
with electric motors. |
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1939 |
Establishment of Demag Zug
GmbH in Wetter. |
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1953 |
Start of production of mobile
cranes in Wetter (until 1969). |
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1961 |
Establishment of Bad
Bergzabern plant for the productiion of electric chain hoists and electrical
components. |
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1962 |
Take-over of electric motor
manufacturer Conz in |
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1963 |
Start of series crane
production. |
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1970 |
Establishment of Demag
Systemtechnik GmbH in |
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1983 |
Establishment of the Uslar
plant for production of brake motors. |
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1988 |
Participation in Mechanical
Handling Engineering Ltd. |
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1990 |
Start of crane production at the
Luisenthal plant in |
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1991 |
Acquisition of Hans Fehr AG in
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1992 |
Re-organisation of the Demag
group |
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1994 |
Establishment of Mannesmann
Dematic Co. Ltd., |
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1996 |
Take-over of the Mobile Cranes
Division |
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1997 |
Company name changed to
Mannesmann Dematic AG, Wetter. |
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1998 |
Establishment of Mannesmann
Dematic (Middle East), |
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1999 |
Acquisition of Zasche GmbH,
Nördlingen. |
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2000 |
Mannesmann Dematic becomes
part of the |
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2001 |
Atecs Mannesmann AG is taken
over by Siemens AG and Bosch GmbH |
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2002 |
Demag Cranes & Components
is taken over by a Joint Venture between Siemens (19%) and Kohlberg Kravis
Roberts (81%) |
|
2006 |
Consolidation of Demag Cranes
& Components GmbH and Gottwald Port Technology GmbH under Demag Cranes AG
that successfully goes public at the end of June. |
By product groups
Catagories
Cranes
Demag cranes: suspension cranes, overhead travelling cranes, process cranes -
Quality, efficiency and reliability
at the
highest level
KBK
crane
construction kit
transport solutions tailored to meet individual customer needs for area-serving
and overhead handling applications
Hoists
Hoist units, chain hoists, Manulift, rope hoists and open winch units - system
solutions from one source
Load
handling
attachments
Demag battery magnets and Demag permanent magnets - for unit loads. Simple
handling, robust and reliable
Switch
and
control systems
Demag control pendants, radio control and infrared control systems - for
controlling hoists and machinery
Power
supply
systems and lines
Compact conductor lines, single conductors, flat conductor lines and trailing
cable systems - reliable and efficient systems
Geared
motors
and drives
Geared motors, brake motors, microspeed drives - drives with unique operating
principle
Travel
unit
components
Wheel block and travel wheel systems, wheel set, trolleys and clamp-fitted buffers
- robust and universal for a wide range of applications
Frequency
inverters
Dedrive Pro frequency inverters and Dedrive Compact frequency inverters - they
offer the solution tailored to meet the needs
Accessories
Rope connectors, geared limit switches and load detectors
Press
Release :
Decisive ergonomics
Demag systems for fast baggage handling at Leipzig/Halle
airport
A new building for the baggage handling operation was also
built at the same time as the central terminal at Leipzig Halle airport. Demag
Speed Hoist rope winches are used for handling the baggage items, which makes
it much easier for the workers to handle the loads.
A constant growth in passenger figures impressively reflects
how the Leipzig/Halle location has developed: Whereas almost 275,000 air
travellers used the airport in 1990, the figure had already increased to more
than two million five years later. In order to keep pace with this rapid
development, the airport was turned into an advanced hub, which connects rail, road
and air traffic in its modern terminal. Today, the terminal can handle 4.5
million passengers.
In addition to unlimited operation allowed around the clock,
the benefits offered by the location of Leipzig/Halle airport include an
advanced infrastructure and the availability of free development space. A
second 3,600 metre-long runway is currently being built, which will also be
used by DHL for operation of its European hub from 2008.
The overall concept for faster turnaround also includes separation
of the baggage handling area from the incoming goods sector. Whereas the
airport company is responsible for the site infrastructure, its subsidiary Port
Ground provides baggage loading and unloading services. Employees are deployed
in line with flight schedule requirements.
When the passengers have checked in, the baggage items are
transported above ground through a conveyor tunnel to the new departure
building. Here, on the upper floor level, they are automatically x-rayed,
sorted and "gently" tilted out of the transport container. They are
then transported by a belt conveyor to one of the five carousels on the ground
floor.
On the long sides of this oval conveyor belt, Demag Cranes
& Components installed single-girder overhead travelling cranes from the
KBK Aluline range, each of which are fitted with a DS-H 80 SpeedHoist. The
cranes, which have a span of four metres, each travel along a 23.5 metre
runway, thus enabling a large area to be served along the baggage conveyors.
The owner specifically selected the KBK Aluline system due to its low weight,
since the crane runway is suspended direct from the steel superstructure of the
upper floor. The smooth-running trolleys are a further advantage: the workers
can move the individual crane bridges very easily by hand, particularly since
rigid end carriages were selected for the bridge suspensions.
The worker positions the SpeedHoist above the belt, picks up
an item of baggage with the hook and places it on the baggage trolley next to
the belt. The rocker switch enables the system to be controlled by one hand,
while the second hand is free to help guide the load. The infinitely variable
speed control between 0.7 and 70 m /min. also ensures fast and careful handling
of the load.
A further variant is used in the oversize baggage area. In
this area, the same type of SpeedHoist operates on a KBK monorail section that
is arranged parallel to the belt and runs at right angles over the end of the
belt. Here, the worker can position the handling unit direct above the
designated retrieval point, lift the oversize baggage out of the transport
container and place it on the waiting mini trolley.
Industrial safety requirements were already considered at
the planning phase, which provide for the use of ergonomic tools to relieve the
workers. Port Ground presented a study to show how handling equipment would
reduce non-productive time in the baggage handling operation every year.
Following a test phase, the owner decided in favour of the Demag system
consisting of the SpeedHoist and the KBK single-girder overhead travelling
crane. Whereas KBK was selected as a robust load handling system offering a
wide operating radius along the conveyor line, the customer was impressed by
the ergonomic rocker handle of the SpeedHoist unit for single-handed operation
with smooth speed control. The DSH 80 variant meets all requirements for
handling baggage items weighing up to 40 kg and special baggage weighing up to
70 kg.
The entire systems were delivered ready for assembly. After
being assembled by Demag service personnel, the speeds and acceleration rates
of the units were individually adjusted in agreement with the customer.
Flying the flag
Demag Cranes & Components at LogiMAT 2006
(7 March 2006)
Demag Cranes & Components presents products for
Intralogistics solutions
Following its impressive presentation at CeMAT 2005 in
Hanover, Demag Cranes & Components GmbH, Wetter/Ruhr, is also flying the
flag at Stand 306 in Hall 9 at LogiMAT in
As a highlight of its Cranes products, Demag is presenting
the DR 3 rope hoist. This is a product from the Demag rope hoist family, to
which sizes DR 5, DR 10 and DR 20 also belong. Compared with its predecessor,
the DR rope hoist provides 20 per cent higher handling rates. This is the
result of higher hoist and travel speeds as well as the infinitely variable
cross-travel speed, which facilitates fast, gentle, safe and precise positioning
with virtually no sway. The integrated monitoring system, fitted as standard,
also provides greater efficiency, enabling individual operating parameters of
the hoist and the entire crane installation to be read, also by means of remote
diagnostics. Demag has also increased the rope hoist service life by approx. 20
per cent.
The Handling Technology Business Unit showcases the DC-Pro
electric chain hoist. The standard scope of the DC-Pro already includes
everything the user might need from a versatile, state-of-the-art electric
chain hoist. Its wider range of integrated standards and advanced technology
are the reasons why the DC-Pro has achieved a unique position in the market.
The impressive profile of features also includes convenient operation, serviceability,
ergonomic design, safety and outstanding cost-effectiveness. As a supplement to
the DC-Pro, Demag Cranes & Components also presents a light version of the
successful product in the form of the DC-Com. This concept is based on the idea
that not every customer needs the "all-inclusive" version benötigt,
but that they still want to benefit from the basic advantages offered by the
DC-Pro.
Furthermore, Demag will also show variants of the versatile
KBK crane construction kit and components such as the new, lighter LRS travel
wheel system, for example. With the LRS, the manufacturer now provides
customers with a cost-effective and, at the same time, highly robust solution
for the lower load capacity range.
But that is not all. "Demag Service" will also
present a wide range service products, from crane operator training courses,
maintenance and repairs to refurbishment and the modernisation of complete
installations.
LogiMAT, which is held at the Stuttgart Trade Fairground at
Killesberg from 28 to 30 March 2006, is an international trade fair for
Intralogistics. It grows by some 30 per cent per annum. Approximately twelve
per cent of the exhibitors come from abroad. This figure is even 40 per cent
for the visitors, who are almost exclusively from trade and industry.
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.40.66 |
|
|
1 |
Rs.81.70 |
|
Euro |
1 |
Rs.55.05 |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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 |
|