MIRA
INFORM REPORT
|
Report Date : |
09.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CATERPILLAR INDIA
PRIVATE LIMITED |
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Registered Office : |
6 B, GST Road,
Street Thomas Mount, Chennai – 600 016, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.12.2000 |
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Com. Reg. No.: |
18-46255 |
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CIN No.: [Company
Identification No.] |
U29244TN2000PTC046255 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEC02709A |
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PAN No.: [Permanent
Account No.] |
AABCC4615K |
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Legal Form : |
Private Limited
Liability Company. The company is a
wholly owned subsidiary of Caterpillar Inc., USA. |
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Line of Business : |
Manufacturer, Exporter
and Distributor of Earth Moving Equipments.
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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 4641000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
The company is a
part of Caterpillar Group. Available
information indicates high financial responsibility of the company although
it continue to incur heavy losses. Trade relations
are reported as fair. Payments are
reported as 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 : |
6 B, GST Road,
Street Thomas Mount, Chennai – 600 016, Tamilnadu, India. |
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Tel. No.: |
91-44-22342240 / 46/ 22317865 / 22346824 / 22346651 |
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Fax No.: |
91-44-22349242 |
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E-Mail : |
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Website : |
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Corporate Office : |
3/108, Anekal
Road, Punapalli Village, Mathgondapalli, Hosur – 635 114, Karnataka |
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Tel. No.: |
91-4324-522913 |
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Factory 1 : |
Melanallathur
Post, Tiruvellore, Chinglepet District, Chennai, Tamilnadu |
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Tel. No.: |
91-4116-241085 |
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Fax No.: |
91-4116-241097 |
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Factory 2 : |
3/108, Anekal Road,
Punapalli Village, Mathgondapalli, Hosur – 635 114, Karnataka |
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Tel. No.: |
91-4324-522913 |
DIRECTORS
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Name : |
Mr. Duane E
Devorce |
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Designation : |
Managing Director
(Resigned from the Board) |
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Address : |
100/1 Ramgundanahalli,
Whitefield Post, Bangalore – 66, India. |
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Date of Birth/Age : |
24.01.1950 |
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Qualification : |
MBA (Maryland
University, USA) |
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Date of Appointment : |
30.03.2005 |
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Name : |
Mr. Jack Joseph
Nichols |
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Designation : |
Director (Resigned) |
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Address : |
7-1-50 Shioyacho,
Tarumiku, Kobe – 65508972, Japan |
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Date of Birth/Age : |
16.10.1952 |
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Date of Appointment : |
21.09.2002 |
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Name : |
Mr. R. Ram Mohan |
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Designation : |
Whole Time
Director |
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Address : |
586, 23rd
Cross, Bansankari II Stage, Bangalore, Karnataka |
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Date of Birth/Age : |
10.12.1953 |
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Qualification : |
B. Com, ACA |
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Date of Appointment : |
21.09.2002 |
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Name : |
Mr. Paul D
Blackburn |
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Designation : |
Director |
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Address : |
Homat Ambassador
# 580, 4-10-2, Minami – Azabu, Minato Ku, Tokyo 106-0047, Japan |
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Date of Birth/Age : |
27.09.1956 |
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Date of Appointment : |
31.08.2005 |
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Name : |
Mr. Richard
Patric Lavin |
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Designation : |
Director |
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Address : |
Kako House, # 15 2-6-3
Seta Setagaya-ku, Tokyo, Japan |
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Date of Birth/Age : |
16.02.1952 |
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Date of Appointment : |
31.08.2005 |
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Name : |
Mr. Albert Thomas
Brown |
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Designation : |
Managing Director
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Address: |
100/1 Ramagundannahalli,
Whitefield, Bangalore –66, India |
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Date of Birth/
Age: |
29.04.1946 |
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Date of
Appointment: |
31.03.2005 |
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Name : |
Mr. S. R.
Subramanian |
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Designation : |
Whole Time
Director |
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Date of Birth/
Age: |
05.10.1954 |
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Date of Appointment: |
08.09.2004 |
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Name : |
Mr. Kevin R
Thieneman |
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Designation : |
Director |
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Name : |
Mr. Diana L
Charlton |
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Designation : |
Director |
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Name : |
Mr. S Rengarajan |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. P. Srinivasan |
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Designation : |
Company Secretary |
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Address : |
81, Greams Road,
Chennai – 600 006, Tamilnadu |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Caterpillar Commercial
S.A., Belgium |
139371750 |
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Caterpillar
Commercial LLC, USA |
2 |
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Equity Share Break Up |
Percentage |
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Foreign holdings
(Foreign institutional investors ) foreign companies foreign financial institutions
, non residents or Overseas corporate bodies or others |
100 % |
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Total |
100
% |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Exporter and Distributor of Earth Moving Equipments. |
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Products : |
v Off-Highway Dump Trucks v Front End Loaders v Crawler Tractor v Special Vehicles v Engines v Excavators v Agricultural Tractors v Backhoe Loaders v Paving Products v Compact Water Equipment v Wheel Loaders v Motors Graders v Trucks v Track Type Tractors
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Brand Names : |
“Caterpillar” |
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Exports : |
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Countries : |
African Countries,
Loaders to Gulf Countries, Crawler Tractors to Sri Lanka |
GENERAL
INFORMATION
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Suppliers : |
v Accurate Springs Private Limited v Automotive Ancillary Services v Automat Industries v Automative and Industrial Seals Private
Limited v Bala Industries v Creative Engineers (Madras) v Delta Mech. Engineers v EMES Industries v Empee Engineers v Empkee Engineers Private Limited v Excel Controlinkage Private Limited v Formtech Engineering Private Limited v Globe Tools v Hydrolines v Industrial Spares Manufacturing Company v Insap Engineers Private Limited v Industrial Spares Manufacturing and
Trading Company v Jupiter Industrial Works Thane v Levers India v Mathi Engineering Works v Mercury Fittings (P) Limited v Michale Raj Engineering Works v Newall Engineering Works v Perfect Gears (Chennai) Private Limited v Platinum Heat Treaters Private Limited v Prakasb Enterprises v Precision Machine and Auto Components
Private Limited v T R Engineering Enterprises v Vaishanvi Enterprises v Veetoms Industries v Sridhar Industries v Subajeyam Turners v Super Springs Private Limited v Sri Balasubramanu Electrical |
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Customers : |
Wholesalers,
Retailers, End Users And Original Equipment Manufacturers. |
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No. of Employees : |
300 |
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Bankers : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Price Waterhouse
and Company Chartered
Accountants |
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Address : |
32, Khader Nawaz Khan Road, Nungambakkam, Chennai - 600006 |
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Tel. No.: |
91-44-28291597 /
28292046 |
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Parent
Company: |
v
Caterpillar
Commercial SA, Belgium v
Caterpillar
Inc 100, N. E. Adams St.,
Peoria, IIIinois 61629, U.S.A. (309) 675-1000 |
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Associates/Subsidiaries : |
v
Caterpillar
SARL, Switzerland v
Caterpillar
Commercial LLC, USA v
Caterpillar
Commercial Private Limited v
Caterpillar
(UK) Limited, England v
Caterpillar
Australia Limited, Australia v
Caterpillar Grenoble,
France v
Shin
Caterpillar Mitsubishi Limited, Japan v
Caterpillar
Motorein GMBH & Company KG, Germany v
Caterpillar
Asia Pte Limited, Singapore v
Caterpillar
Mec. Track SRL, Italy v
Caterpillar
Mexico v
Perkins
Engine Company Limited, England v
Caterpillar
Thailand Limited, Thailand v
Caterpillar
Services Limited, USA v
Caterpillar
Xuzhou Design Centre Limited, China v
Caterpillar
Work Tools, USA v
Caterpillar
Service Limited, Japan v
Hindustan
Powerplus Limited v
Caterpillar
Commercial SA |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity shares |
Rs. 10/- each |
Rs.1500.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
139371800 |
Equity shares |
Rs. 10/- each |
Rs.1393.718
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1393.718 |
1393.718 |
1393.718 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(233.462) |
(350.449) |
(272.711) |
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NETWORTH |
1160.250 |
1043.269 |
1121.007 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
3184.685 |
3091.403 |
2277.905 |
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TOTAL BORROWING |
3184.685 |
3091.403 |
2277.905 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4344.930 |
4134.672 |
3398.912 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1168.999 |
1231.926 |
1252.610 |
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Capital work-in-progress |
1.240 |
2.320 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
146.305 |
132.735 |
93.941 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2980.841 |
1818.241 |
1791.425 |
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Sundry Debtors |
1544.518 |
1704.644 |
1239.444 |
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Cash & Bank Balances |
98.228 |
289.801 |
81.234 |
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Other Current Assets |
0.227 |
0.362 |
0.341 |
|
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Loans & Advances |
532.869 |
273.159 |
145.457 |
|
Total
Current Assets |
5156.683
|
4086.207
|
3257.901 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Current Liabilities |
2007.306 |
1213.516 |
1129.273 |
|
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Provisions |
120.980 |
105.000 |
86.291 |
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Total
Current Liabilities |
2128.286
|
1318.516
|
1215.564 |
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Net Current Assets |
3028.390
|
2767.691
|
2042.337 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
10.024 |
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TOTAL |
4344.930 |
4134.672 |
3398.912 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
8476.500 |
7275.837 |
6073.479 |
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Other Income |
1021.218 |
360.889 |
197.664 |
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Total Income |
9497.718 |
7636.726 |
6271.143 |
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Profit/(Loss) Before Tax |
121.987 |
[99.431] |
54.648 |
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Provision for Taxation |
5.000 |
21.693 |
84.314 |
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Profit/(Loss) After Tax |
116.987 |
[77.738] |
138.962 |
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Earnings in Foreign Currency : |
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Export Earnings |
NA |
NA |
197.167 |
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Total Earnings |
NA |
NA |
197.167 |
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Imports : |
|
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|
CKD Components |
|
1742.790 |
1979.450 |
|
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Trade Items |
NA |
7.260 |
5.410 |
|
Total Imports |
NA |
1750.050 |
1984.860 |
|
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Expenditures : |
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Depreciation |
193.997 |
178.726 |
0.000 |
|
|
Other Expenditure |
8987.737 |
7378.970 |
6216.495 |
|
Total Expenditure |
9181.734 |
7736.157 |
7557.696 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.23
|
[1.02]
|
2.22 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
1.43
|
[1.37]
|
0.90 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.92
|
[1.87]
|
1.18 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
[0.10]
|
0.05 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
4.57
|
4.22
|
3.12 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.42
|
3.10
|
2.68 |
LOCAL AGENCY
FURTHER INFORMATION
History:
Subject was
incorporated on 7th December, 2000 at Chennai in Tamilnadu having
Company Registration Number 46255.
Subject is a
world’s leading manufacturer of construction and mining equipments, diesel and
natural gas engines and industrial turbines.
Caterpillar Inc.
USA had a licence arrangement with Hindustan Motors Limited to manufacture its
machinery.
Through a business
transfer agreement with Hindustan Motors Limited on 12.11.2000 for acquiring
earth moving division with its factories at Trivellore and Pondicherry
Caterpillar Inc. acquired Hindustan Motors.
Subject was formed with the permission of foreign investment promotion
board of Government of India and a 100% subsidiary of Caterpillar Inc., USA. on
7.12.2000
Pursuant to the
deed of accession entered into between Caterpillar USA and Hindustan Motors
Limited on 30.01.2001, all movable properties of Hindustan Motors was taken
possession by the subject company on 08.02.2001. The immovable properties at Trivellore and Pondicherry was also
conveyed to the company on 09.02.2001.
All employees were
also transferred to the newly formed company.
139371782 shares of
Rs. 10 each were allotted as per approval of foreign investment Promotion Board
to the following :
˜
Caterpillar
Commercial NV – 12906500 shares
˜
Caterpillar
Commercial NV – 125465250 shares
Subject became a
subsidiary of Caterpillar Commercial NV, Belgium which in turn was a subsidiary
of Caterpillar Inc., USA – the holding company with effect from 14.01.2001.
Subject has
established a design center and has obtained approval from Software Technology
Parks of India for deriving tax benefits.
Caterpillar
products and components today are manufactured in 42 plants in USA and 49
plants in Australia, Belgium, Brazil, Canada, England, France, Germany, Hungary,
India, Indonesia, Italy, Japan, Mexico, The Netherlands, Northern Ireland,
People’s Republic of China, Poland, Russia,
South Africa and Sweden.
The company’s
marketing headquarters are located in Peoria and Mossville, IIIinois; San
Diego, California; Miami, Florida; Cary, North Carolina; Melbourne, Australia,
Gosselies, Belgium, Piracicaba, Brazil; Peterborough, England; Kiel, Germany;
Hong Kong, People’s Republic of China, Tokyo, Japan; Singapore and Geneva,
Switzerland.
The dealers for
Caterpillar in India are GMMCO Limited and TIL Limited.
Business:
Subject is engaged
in as manufacturer, exporter and distributor of earth moving equipments.
It exports Dumpers
to African Countries, Loaders to Gulf Countries, Crawler Tractors to Sri Lanka
and Special vehicles.
It does not import.
It is in trade terms with :
˜
Goodyear India
Limited
12, Pattullos Road, Chennai - 600 002, Tamilnadu
Tel No. 91-44-28522307
Contact Person : Mr. Gopinath –
Manager (OE)
˜
General
Marketing and Manufacturing Company Limited (Main Dealer)
6, GST Road, Chennai – 600 016, Tamilnadu
˜
TIL Limited
1, Taratola Road, Garden Reach, Kolkata – 700 024, West Bengal
Tel No. 91-33-24693732
Fax No. 91-33-24692143
Other Locations of subjects are as under:-
Ř Australia
Ř Brazil
Ř China
Ř Germany
Ř India
Ř Italy
Ř Mexico
Ř Poland
Ř Sweden
Ř Belgium
Ř Canada
Ř France
Ř Hungary
Ř Indonesia
Ř Japan
Ř Northern Ireland
Ř Russia
Ř United Kingdom
APPLICATION
Ř Open Cast Mining
Ř Quarrying
Ř Irrigation
Ř Power
Ř Steel
Ř Fertilizer and Chemicals
Ř Cement
Ř Construcion
Ř Material Handling
Fixed Assets:
· Freehold Land,
· Buildings,
· Plant & Machinery,
· Equipment,
· urniture & Fittings,
· Vehicles etc.
Research &
Development:
|
1. Specific areas
in which R & D carried out by the company |
Import substitution
by substitution of direct local equivalent where available or redesigning to
facilitate adoption of local alternate materials and methods. Total design for
imported proprietary components to facilitate indigenous sourcing. Redesigning
imported technology to suit local operating condition and ease of
manufacture. Product Design by
use of Pro-E. Product
modification with Caterpillar engines |
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|
2. Benefit
Derived as a result of the above R & D |
Establishing R
& D capability in house. Independent of
imported sources. Localization of
components and design. |
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|
3. Future Plan of
action |
The company has
plans to have selected R & D activities on an ongoing basis for its
products including product validation facility. |
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|
4. Expenditure in
R & D v
Capital v
Recurring v
Total v
Total R
& D expenditure as a percentage of total turnover |
R & D design
& test is an integral part of the production facilities |
Technology
absorption, adaptation and innovation:
|
Efforts in brief
made towards technology, absorption, adaptation and innovation: |
Absorbed and localized technology in stages
as per Company’s New Product Introduction and Localization program. |
|
|
|
|
Benefit derived
as a result of the above efforts.
E.g. product improvement, cost reduction, product development, import
substitution, etc. |
Benefits are
derived in New product development, Product Improvement, import substitution
and cost reduction: Major work
completed: v
New Product
development of Backhoe loader with regional designs. v
25T off
Highway Truck Product upgrade with Caterpillar engine with improved cabin. v
2021 Small
Wheel Loader product upgade with load sensing steering and Coal Bucket. v
35T off
Highway Truck Product upgrade with optimized Body and Brake. Major work
under Process: v
35 Tons off
Highway Truck Product upgrade with Caterpillar Transmission v 35 Tons off Highway Truck resign to
suit Arctic climate. |
Particulars of Imported Technology:
|
Technology
Imported |
Manufacturing of earth
moving Equipment |
|
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|
|
Year of Import |
2002 |
|
|
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|
Has technology
been fully absorbed |
No |
|
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|
|
If not fully
absorbed, areas where this has not taken place, reasons there for, and future
plan of action. |
The technology is
being absorbed in stages as per company’s indigenization program. Efforts
will be made to develop more proprietary components, which are critical
components and has dependence on supplier design and require longer lead time
for development and evaluation. |
Press Release
FEbruary 7, 2008
Caterpillar Statement: In Response to Media Inquires About Severe
Weather Damaging a Caterpillar Facility in Oxford, Mississippi
A portion of Caterpillar's facility in Oxford, Mississippi, was damaged and
collapsed Tuesday, February 5, as the result of severe weather in the region.
Following Caterpillar weather safety guidelines, employees in the facility took
cover in two designated storm shelters inside the building. All employees are
accounted for, with only a few minor injuries being reported.
Caterpillar is working to assess the impact of the damage to this
facility, that manufactures hose couplings for Caterpillar products.
Caterpillar has contracted with a design and construction company to immediately
begin work to bring portions of the Oxford facility back into operation as soon
as possible. In the meantime, Caterpillar is working with suppliers, its global
dealer network and internally to meet customer demands. It is too early to know
how the damage to the Oxford facility will impact production at other
Caterpillar facilities.Caterpillar is communicating with its employees in
Oxford to make sure they understand temporary work and training assignments and
benefits information.
Caterpillar Foundation has also announced it is providing a $100,000
grant to the American Red Cross to be used for disaster relief efforts in the
region. The Caterpillar Foundation will also match cash contributions made by
March 1 from Cat employees, retirees and Cat dealer employees to the American
Red Cross up to an additional $50,000.
Caterpillar Creates New Division,
Announces Appointment of Vice President
November
2, 2007
Caterpillar Contact:
Jim Dugan
Corporate Public Affairs
309-494-4100 (o)
309-360-7311 (m)
dugan_jim@cat.com
Caterpillar Creates New Division, Announces Appointment of Vice
President
PEORIA,
Ill.— Caterpillar Inc. (NYSE: CAT) announced today that its Board of Directors
has approved the appointment of Gwenne A. Henricks as a vice president. Henricks
will have responsibility for the newly formed Electronics & Connected
Worksite Division, which will have enterprise responsibility for hardware and
software technology development and Caterpillar's global electronics strategy.
This strategy will solidify Caterpillar's leadership in the fast developing
areas of machine control and guidance, product health and asset management.
This includes engine and machine systems integration, enhanced electronics and
systems for operator stations, connected worksite systems and associated
components.
Henricks
joined Caterpillar in 1981 and has held a series of positions with increasing
responsibilities in the areas of electronics engineering and product
development. Previously, she was undercarriage product manager for
Caterpillar's Track Type Tractors Division. Currently, Henricks is the manager
of the Electronic & Electrical Systems Business Unit, which is part of
Caterpillar's Motion and Power Control Division.
"Gwenne's
leadership skills and experience make her the right choice for guiding this new
organization which is being created in recognition of the growing importance of
electronics and electrical systems, which increase the productivity and
profitability of the Caterpillar machines and engines used by our
customers," said Caterpillar Chairman and CEO Jim Owens. "This new
division will provide focus for Caterpillar and Caterpillar dealers as we help
customers realize more from Caterpillar products and solutions with equipment
diagnostics and prognostics, as well as machine guidance capabilities through
innovative telemetry such as global positioning systems and laser
guidance."
Henricks
has a bachelor's degree in physics and a master's degree in electrical
engineering from Bradley University. She earned a Masters in Business
Administration from the University of Illinois and completed the Managing
Engineering Design and Development Program at Carnegie Bosch Institute.
Henricks serves on the Board of Managers of Cat Trimble Control Technologies
and is on the Board of Directors of 10G, LLC. She is a member of the Society of
Women Engineers and serves on the Board of Directors for St. Francis Medical
Center College of Nursing. Her appointment is effective December 1, 2007.
For
more than 80 years, Caterpillar Inc. has been making progress possible and
driving positive and sustainable change on every continent. With 2006 sales and
revenues of $41.517 billion, Caterpillar is the world's leading manufacturer of
construction and mining equipment, diesel and natural gas engines and
industrial gas turbines. The company also is a leading services provider
through Caterpillar Financial Services, Caterpillar Remanufacturing Services,
Caterpillar Logistics Services and Progress Rail Services. More information is
available at http://www.cat.com
SAFE HARBOR
Certain
statements in this release relate to future events and expectations and as such
constitute forward-looking statements involving known and unknown factors that
may cause actual results of Caterpillar Inc. to be different from those
expressed or implied in the forward-looking statements. In this context, words
such as "will" and "expect" or other similar words and
phrases often identify forward-looking statements made on behalf of Caterpillar.
It is important to note that actual results of the company may differ
materially from those described or implied in such forward-looking statements
based on a number of factors and uncertainties, including, but not limited to,
changes in economic conditions; currency exchange or interest rates; political
stability; market acceptance of the company's products and services;
significant changes in the competitive environment; epidemic diseases; changes
in law, regulations and tax rates; and other general economic, business and
financing conditions and factors described in more detail in the company's Form
10-K filed with the Securities and Exchange Commission on February 23, 2007.
This filing is available on our website at http://www.cat.com/sec_filings. We
do not undertake to update our forward-looking statements.
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.39.73 |
|
UK Pound |
1 |
Rs.77.34 |
|
Euro |
1 |
Rs.57.80 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
41 |
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 |
|