MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
THOMSON PRESS INDIA LIMITED |
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Registered Office : |
9-K, Connaught Circus, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.07.1962 |
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Com. Reg. No.: |
55-3768 |
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CIN No.: [Company
Identification No.] |
U22219DL1962PLC003768 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT04799E |
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PAN No.: [Permanent
Account No.] |
AAACT4827F |
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Legal Form : |
It is a closely held public limited liability company. Subject is a subsidiary of Living Media India Limited. |
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Line of Business : |
Subject is engaged in printing and publishing of periodicals, books, magazines, posters, pamphlets, etc. like India Today, Business India, etc. |
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 7100000 |
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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 and reputed company having satisfactory
track. 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 Office : |
9-K, Connaught Circus, |
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Tel. No.: |
91-11-23719004 / 5 / 6 / 2332 1323 / 1273/ 23416273 |
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Fax No.: |
91-11-2371 3405 / 2332 8592/ 23412405 |
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E-Mail : |
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Website : |
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Administrative Office : |
9-K
Block, |
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Tel. No.: |
91-11-23321323 / 1273 |
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Mobile No.: |
91-11-23713405 / 23328592 |
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Fax No.: |
lp.delka/thomson |
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Head Office : |
P. B. No. 705, |
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Tel. No.: |
91-129-2285520/21/22/23/24 |
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Fax No.: |
91-129-2284511 |
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Corporate Office : |
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Tel. No.: |
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Fax No.: |
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Factory 1 : |
18/35, P. B. No. 705, Thomson Press Building, Delhi-Mathura Road, Faridabad - 121 002, Uttar Pradesh |
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Tel. No.: |
91-129-2285520 / 21 / 22 / 23 / 24 |
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Fax No.: |
91-129-2284511 |
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E-Mail : |
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Factory 2 : |
B-315, Okhla Industrial Area, Phase I, |
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Tel. No.: |
91-11-26819104 / 26818920 |
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Fax No.: |
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Factory 3 : |
B, 11-12, Noida Export Processing Zone, Noida – 201 305, Uttar Pradesh |
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Group Offices : |
Advertising Offices
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Regional Sales Offices : |
14, Kamanwala Chambers, New Udyog Mandir Premises, Mughal Lane, Mahim (West), Mumbai – 400 016 Tel No. 91-22-24444423 Fax No. 91-22-24444358 E Mail : tp.mumbai@thomsonpress.com Contact Person : Mr. Surender Babu – Sales Manager 74/1, Tel No. 91-80-2270809 Fax No. 91-80-2274988 E Mail : tp.bangalore@thomsonpress.com Contact Person : Mr. P. B. Shyam Sundar – Sales Manager 52, Tel. No. 91-33-22827746 E Mail : pmukherjee@thomsonpress.com Contact Person : Mr. Pritam Mukherjee 106A, Signal House, Tel +44-20-8861-4362 Fax +44-20-8863-8914 E Mail : amanocha@thomsonpress.com 4, Court Square, 3rd Floor, Tel +1-718-729-8077 / +1-718-729-8937 Fax +1-718-729-8143 E Mail : newyork@thomson-press.com Contact Person : Mr. B. L. Ganju – General Manager 3/1, Tel +61-3-9531-5696 Fax +61-3-9531-4264 E Mail : thomsonpress@bigpond.com Contact Person :
Ms. Yasmin Ahmed – Country Manager – |
DIRECTORS
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Name : |
Mr. Vilas Vidya Purie |
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Designation : |
Director |
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Address : |
C-19, Malcha Marg, Diplomatic Enclave, Chanakay Puri, New Delhi-110021 |
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Date of Birth/Age : |
13.05.1913 |
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Date of Appointment : |
23.07.1962 |
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Name : |
Mr. Aroon Purie |
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Designation : |
Managing Director |
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Address : |
6, Palam Marg, Vasant Vihar, New Delhi-110057 |
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Date of Birth/Age : |
29.12.1944 |
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Date of Appointment : |
01.01.1976 |
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Name : |
Mr. Devinder Nath Purie |
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Designation : |
Whole time Director |
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Address : |
House No.370, BHL House, Sector 14, |
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Date of Birth/Age : |
01.07.1963 |
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Date of Appointment : |
09.01.1989 |
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Name : |
Mr. Ashok Kapur |
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Designation : |
Director |
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Address : |
B-5, Chirag Enclave, |
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Date of Birth/Age : |
24.06.1946 |
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Date of Appointment : |
24.05.2004 |
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Name : |
Mr. Ravi Akhoury |
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Designation : |
Director |
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Address : |
6, |
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Date of Birth/Age : |
16.06.1942 |
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Date of Appointment : |
01.05.2002 |
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Name : |
Mr. Ravindra Chandra Bhargava |
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Designation : |
Director |
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Address : |
House No.220, Sector 15A, Noida-201301, Uttar Pradesh, |
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Date of Birth/Age : |
30.07.1934 |
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Date of Appointment : |
24.05.2004 |
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Name : |
Mr. Rakesh Malhotra |
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Designation : |
Director |
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Address : |
M-11, Greater Kailash Part II, New Delhi-110048 |
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Date of Birth/Age : |
16.08.1952 |
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Date of Appointment : |
10.06.2004 |
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Name : |
Mr. J H G McMahon |
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Designation : |
Director |
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Name : |
Mr. M Paton |
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Designation : |
Director |
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Name : |
Ankoor Purie |
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Designation : |
Whole time Director |
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Address : |
6, Palam Marg, Vasant Vihar, New Delhi-110057 |
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Date of Birth/Age : |
04.06.1979 |
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Date of Appointment : |
18.10.2005 |
KEY EXECUTIVES
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Name : |
Mr. Manish Nayar |
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Designation : |
Company Secretary |
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Address : |
C-159, Vikaspuri, |
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Date of Appointment : |
16.05.2005 (Resigned) |
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Name : |
Mr. Vineet Kumar Sharma |
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Designation : |
Company Secretary |
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Address : |
R-3, Sector 11, Noida-201301, Uttar Pradesh |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Central Depository Service ( |
1378140 |
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Mr. Ankoor Purie |
30 |
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Living Media India Limited |
4338930 |
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Ms. Rekha Purie |
30 |
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The All India Film Corporation Private Limited |
735000 |
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The All India Finance & Commerse Private Limited |
1309200 |
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Mr. Aroon Purie |
30 |
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The All India Investment Corporation Private Limited |
1426140 |
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As on 31.03.2006
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Names of Shareholders |
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Percentage of
Holding |
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Foreign holdings |
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15.00 |
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Bodies Corporate |
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85.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in printing and publishing of periodicals, books, magazines, posters, pamphlets, etc. like India Today, Business India, etc. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash, Contract, Others, L/C or Credit (30 / 60 days) terms |
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Purchasing : |
Cash, Contract, Others, L/C or Credit (30 / 60 days) terms. |
PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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All types of printed matter such as Books, Periodicals, Calenders,
Annula reports, Lottery Tickets, Repropults and Phototype Set Films etc. |
Standard
Impressions |
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1526 Million |
851 Million |
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Phoptotype Set Films |
Pages |
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715000 |
711417 |
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Bytes |
Million |
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GENERAL INFORMATION
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Customers : |
Wholesalers, manufacturers, retailers and government
bodies. Some of the major customers of the company are as under : v
Living Media India Limited v
American Institute of Physics v
Academic Press v
Black Well Science v
v
Samsung v
Hero Honda v
Hyundai v
LG Electronics v
Bates v
Lintas v
R K Swamy – BBDO v
Gray v
Mercedes Benz v
Maruti Suzuki v
Adidas v
Kingfisher v
v
Blackwell Publishing v
v
Elsevier Science v
Pearson Group v
Harper Collins v
Gulf Oil v
Amway v
Readers Digest v
Elsevier v Gordon and Breach |
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No. of Employees : |
500 |
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Bankers : |
v
UCO Bank, v
The Hongkong & Shanghai Banking
Corporation Limited, K. G. Marg, v
Bank of v
Standard Chartered Grindlays Bank Limited, v
Export Import Bank of v Mumbai-400005 |
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Financial Institutions |
GE Capital Services |
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Facilities : |
Secured Loans : (Rs.
In millions)
Unsecured Loans
: Fixed Deposits : Rs.6.835 millions |
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Banking Relations
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Good |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
P-1, Aditya Vihar, PW Centre, Saidulajab, Opposite D-Block, Saket,
Mehrauli Badarpur Road, New Delhi-110030 |
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Holding Company : |
Living Media India limited |
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Associates/Subsidiaries : |
v
All India Hotels Limited, v
Thomson Equitable Corporation Limited, v
Thomson Organisers v
The All India Films Corporation Private
Limited, v
The All v
The All India Investment Corporation Private
Limited, v TV Today Network Limited v
Thomson Digital ( v Integrated Dabtabase India Limited v Noida Security Printers Private Limited v World media Private Limited v All India Hotels Private Limited v
All v Thomson Press (I) Limited Staff Provident Fuind Trust v Thomson Press (I) Limited Executive Superannuation Trust v Thomson Press (I) Limited Employees Gratuity Trust v Harper Collins Publishers India Limited v Radio Today Broadcasting Private Limited v
Radio Today ( v Radio Today (Mumbai) Broadcasting Private Limited v
Radio Today ( v World Media International Limited v Universal Learn Today Private Limited v
v Living Media International v TV Today Network Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
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200000 |
Preference Shares |
Rs.100/- each |
Rs.20.000 millions |
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Total |
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Rs.220.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9187500 |
Equity Shares |
Rs.10/- each |
Rs.91.875
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
91.875 |
91.875 |
3.062 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1684.267 |
1456.205 |
1290.450 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1776.142 |
1548.080 |
1293.512 |
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LOAN FUNDS |
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1] Secured Loans |
159.324 |
214.551 |
217.007 |
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2] Unsecured Loans |
1.098 |
6.835 |
6.619 |
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TOTAL BORROWING |
160.422 |
221.386 |
223.626 |
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DEFERRED TAX LIABILITIES |
66.103 |
55.302 |
46.336 |
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TOTAL |
2002.667 |
1824.768 |
1563.474 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1104.152 |
748.983 |
684.081 |
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Capital work-in-progress |
104.473 |
160.559 |
22.881 |
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INVESTMENT |
9.978 |
9.978 |
9.978 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
304.409
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270.276 |
215.430 |
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Sundry Debtors |
515.908
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501.014 |
477.394 |
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Cash & Bank Balances |
153.550
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381.935 |
269.015 |
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Other Current Assets |
1.600
|
4.121 |
1.765 |
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Loans & Advances |
126.074
|
98.647 |
93.275 |
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Total
Current Assets |
1101.541
|
1255.993 |
1056.879 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
298.041
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303.442 |
184.194 |
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Provisions |
19.436
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47.303 |
26.151 |
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Total
Current Liabilities |
317.477
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350.745 |
210.345 |
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Net Current Assets |
784.064
|
905.248 |
846.534 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2002.667 |
1824.766 |
1563.474 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
1269.965 |
1934.391 |
1759.953 |
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Other Income |
845.940 |
52.257 |
38.697 |
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Total Income |
2115.905 |
1988.849 |
1798.650 |
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Profit/(Loss) Before Tax |
310.945 |
400.690 |
379.274 |
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Provision for Taxation |
0.000 |
125.171 |
101.782 |
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Profit/(Loss) After Tax |
310.945 |
275.519 |
277.492 |
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Earnings in Foreign Currency : |
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Export Earnings |
NA |
756.236 |
598.858 |
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Other Earnings |
NA |
71.596 |
36.664 |
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Total Earnings |
NA |
827.832 |
635.522 |
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Imports : |
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Raw Materials |
NA |
93.605 |
76.212 |
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Stores & Spares |
NA |
29.598 |
35.836 |
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Capital Goods |
NA |
146.974 |
145.246 |
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Total Imports |
NA |
270.177 |
257.294 |
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Expenditures : |
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Raw Material Consumed |
608.722 |
635.421 |
614.403 |
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Consumption of stores and spares parts |
163.781 |
NA |
NA |
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Increase/(Decrease) in Finished Goods |
(11.238) |
NA |
NA |
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Salaries, Wages, Bonus, etc. |
287.017 |
NA |
NA |
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Managerial Remuneration |
6.068 |
NA |
NA |
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Payment to Auditors |
2.557 |
NA |
NA |
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Interest |
10.325 |
24.199 |
25.721 |
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Insurance Expenses |
14.000 |
NA |
NA |
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Power & Fuel |
130.051 |
NA |
NA |
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Depreciation & Amortization |
135.660 |
121.706 |
102.150 |
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Other Expenditure |
458.017 |
804.632 |
677.002 |
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Total Expenditure |
1804.960 |
1585.959 |
1419.276 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
14.69
|
13.85 |
15.42 |
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Net Profit Margin (PBT/Sales) |
(%) |
14.69
|
20.14 |
21.09 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.09
|
19.98 |
21.78 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.26 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.27
|
0.37 |
0.33 |
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Current Ratio (Current Asset/Current Liability) |
|
3.47
|
3.58 |
5.02 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Corporation identity number or foreign company registrations number of the company |
U22219DL1962PLC003768 |
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Name of the company |
THOMSON PRESS INDIA LIMITED |
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Address |
9-K, Connaught Circus, |
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This Form is for |
Creation of charge |
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Type of Charges |
Movable property (not being pledge) |
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Particular of the charge holder |
GE Capital Services |
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Nature or description of the instrument creating charge |
Unattested deed of hypothjecaion dated December 22, 2006 |
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Date of the instrument creating charge |
22.12.2006 |
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Amount Secure by the charge |
Rs.250.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest Repayment in 16 equal installments. Rate of interest reuters 3 months CP
benchmark available at INCPRATE plus 130 basis points per annum Terms of repayment Repayable in 16 equal quarterly installments Extent and operation fo the charge First and exclusive charge over specified items of plant and machinery |
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Name of the company |
THOMSON PRESS
INDI A LIMITED |
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Presented By |
Director |
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1) Date and description of instrument creating the change |
Dated 30.01.1995 Unattested joint deed of hypothecation executed by company
in favour of Export Import Bank of |
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2) Amount secured by the charge/amount owing on the securities of charge |
Exim Bank loan of Rs.56.000 millions together with interest, commitment charge, liquidated damages, costs, expenses and all other monies payable by the company to EXIM Bank in terms of the agreement dated the 30.01.1995 entered into between the company and the EXIM Bank. |
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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 |
On number high capacity six colour sheeted offset printing press along with standard access oiries model Rland 206H-OB One number High Capacity five colour sheetfed offset printing press along with standard accessories model Roland -205H-OB |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The charge operates as security for the due repayment by the borrower to EXIM Bank of its loan together with interest, liquidated damages, commitment charge, costs, charges, expenses and all other monies payable by the company to EXIM Bank in terms of the said agreement. The security created under the said deed of hypothecation shall be continuing security The said charge shall rank as an exclusive first chage. |
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5) Name and Address and description of the person entitled to the charge. |
Export Import Bank of Centre One – 21st Floor World Trade Centre Cuffe Parade Mumbai-400005 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
HISTORY
The company was incorporated on 23rd July, 1962
at
Subject has been in operation for over 30 years and is part of
the India Today Group a major multimedia company having interests in
publishing, internet, television and radio.
Over time the company has emerged as the largest commercial
printer in
It comprises of two major divisions - Printing
and Typesetting.
Printing division has four units in
Customer service is
taken care of by our wide network of sales offices in
Subject is a member of two prestigious world bodies GATF and
PIRA.
Revenue for the year 2001-02 was US$ 25 million on an asset
base of US$ 14 million.
Business
The company is engaged in printing and publishing of
periodicals, books, magazines, posters, pamphlets, etc. like India Today,
Business India, etc.
Some of its’ magazines and publications are :
All India Today Group Publications
Readers Digest
Amway
30 more Magazines for other publishers
Subject has two divisions :
Printing Division
It was initially involved in the distribution of
publications of a large number of overseas publishers and printing of
children’s books for export. In 1974,
the focus shifted to printing of the group’s prestigious publication India
Today. It also prints high quality
commercial POS items and books for the domestic and export markets.
This division comprises of one pre-press and two printing
units in
The product range covers virtually all commercial print
requirements on paper and board from bank instruments, to calendars, diaries,
books, corporate brochures, posters, folders, leaflets and magazines.
This range of services and products covers designing, copy
editing, typesetting, high quality scanning and image manipulation, sheet fed
offset printing, heatset and coldest web offset printing, automated binding,
finishing, distribution and mailing services.
Customers service is taken care of by wide network of sales
offices in
Subject is a leader in handling large volume multi colour
work. The product range covers virtually
all commercial print requirements on paper and board from bank instruments, to
calendars, diaries, books, corporate brochures, posters, folders, leaflets and
magazines.
Subject continues to
invest in the latest print technologies and sees some of the most eminent print
buyers repose faith in its services and facilities. Its global customers
include the best names in the publishing world amongst which are. In
The company's range of services extend from scientific photo typesetting and digital imaging in the pre-press area to circulation management. The product range covers virtually all commercial print requirements on paper and board, from lottery tickets to bank instruments, calendars, diaries, books, corporate brochures, posters, folders, leaflets, magazines and photo typeset and colour separated films. This impressive range of services and products cover creative designing, copy and subject editing, complex scientific and mathematical photo typesetting, high quality scanning and image manipulation, sheet fed offset printing, heatset and coldset web offset printing and automated binding and finishing.
Reliable and
state-of-the-art technologies and equipment developed by Scitex, Linotype-Hell,
Roland, Mitsubishi, Harris, Muller Martini, Stahl, Camco, Brehmer and Shoei,
Yoshino Rotor and Kolbus are used at the company to meet the print and
finishing demands of clients. The company also runs a Training School for young
aspiring printers. The four-year programme has been meticulously developed to
impart international standards of education in print technologies.
It is in trade terms with :
World Media International Limited,
Escorts Limited,
Filmi Duniya,
Coates of India Limited
Company’s fixed assets include
Contingent
Liabilities :
|
Particulars |
31.03.2005 |
31.03.2004 |
|
Foreign letters of credit |
72.721 |
55.298 |
|
Labour matters disputed by the company and pending in
court |
8.395 |
8.180 |
|
Electricity deamd disputed by the company and pending in
court |
13.393 |
9.818 |
|
Demand fo additional cusomes duty on imported materials
disputed by the companyand pendig in court |
0.332 |
0.332 |
|
Sales taax demands under dispute |
0.276 |
0.276 |
|
Local area Development Tax pending before joint excise and
taxation commission er |
0.344 |
0.344 |
|
Demand for additional income tax disputed by the company
under appeal |
6.982 |
7.549 |
|
|
|
|
Website Details :
Subject has been in operation for over 30 years and is part
of the India Today Group a major multimedia company having interests in
publishing, internet, television and radio.
Over time subject has emerged as the largest commercial printer in
It comprises of two major divisions - Printing and Typesetting. Printing
division has four units in
Customer
service is taken care of by their wide network of sales
offices in
Thomson Press is a member of two prestigious world bodies
GATF and PIRA.
Revenue for the year 2005-2006 was US $50 million on an asset base of US $ 34
million.
Printing
It was initially involved in the distribution of
publications of a large number of overseas publishers, and printing of children's
books for export. In 1974 the focus shifted to printing of the group's
prestigious publication India Today. As of date apart from a number of
prestigious magazines printed for various publishing houses, TP also prints
high quality commercial POS items and books for the domestic and export
markets.
Each of their five
units has developed its own unique strengths and areas of expertise, providing
their customers with a strong support structure across an extensive range of
printing services.
Absolute commitment to quality, meticulous attention to
detail and unparalleled level of service have made TP a leading specialist in
Design, Prepress, Printing and distribution services. As a company they are
committed to employing dedicated staff, investing in the very best technology
available and maintaining a close involvement with the industry.
Thomson Press Printing
Division comprises of one PrePress and two Printing units in Delhi, one printing unit in
Chennai and one printing & Book Bindery unit in Delhi exclusively for
exports.
TP has always been a
frontrunner in introducing the latest printing technology in
High end drum and flatbed scanners.
Multicolour sheetfed and web printing machines.
Mechanized binderies.
Copy dot scanner.
CTP.
The product range covers
virtually all commercial print requirements on paper and board, from bank
instruments, to calendars, diaries, books, corporate brochures, posters,
folders, leaflets, and magazines.
This range of services and products covers designing, copy
editing, typesetting, high quality scanning and image manipulation, sheet fed
offset printing, heatset and coldset web offset printing, automated binding,
finishing, distribution and mailing services.
Customer service is taken care of by their wide network of sales
offices in
Corporate Houses and Advertising Agencies
Print requirements for major Corporate Houses in
Samsung
Hero Honda
Adidas
Hyundai
LG
Maruti Suzuki
Projects
of major advertising agencies such as
Bates
Lintas
R K
Swamy- BBDO
Gray
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.40.56 |
|
|
1 |
Rs.80.81 |
|
Euro |
1 |
Rs.54.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--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 |
|
65 |
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 |
|