MIRA
INFORM REPORT
|
Report Date : |
21.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ASB INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
E-9, MIDC Industrial Area, Anand Nagar, ADDL, Ambernath, Thane –
421506, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Provisional) |
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Date of Incorporation : |
25.02.1997 |
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Com. Reg. No.: |
134840 |
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CIN No.: [Company
Identification No.] |
U25209MH1997PTC134840 |
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IEC No.: |
0302009353 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA05068A |
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PAN No.: [Permanent
Account No.] |
AAACA8424F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Providing total solutions for production of
biaxially oriented PET containers. |
RATING &
COMMENTS
|
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 4800000 |
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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 fine track. Trade
relations are fair. Business is active. General Financial Position is
satisfactory. Payments are reported as usually correct and as per
commitments. The company can be considered good for normal business at usual trade
terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. M. V. Rao |
|
Designation : |
General Manager Corporate Planning |
|
Date : |
19.07.2008 |
LOCATIONS
|
Registered Office : |
E-9, MIDC Industrial Area, Anand Nagar, ADDL, Ambernath, Thane – 421506,
Maharashtra, India |
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Tel. No.: |
91-251-2625000/2621802/2621803/2621804 |
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Fax No.: |
91-251-2621815/2625035/2625055/2621805 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Overseas Offices: |
NISSEI
ASB MACHINE COMPANY LIMITED HEAD OFFICE AND FACTORY 4586-3 Koo,
Komoro-shi, Nagano-Ken 384-8585, Japan Tel: 81(267)
23-1565 Fax: 81(267)
23-1564 URL: http://www.nisseiasb.co.jp E-mail: sales@nisseiasb.co.jp TOKYO OFFICE Moriichi
Bldg. 7F, 3-2, Kyobashi 1-Chome, Chuo-ku,
Tokyo 104-0031, Japan Tel: 81(3) 3272-7301 Fax: 81(3) 3272-7717 Europe, Middle East and North Africa NISSEI
ASB GmbH Mundelheimer - Weg
58, 40472 Dusseldorf,
GERMANY Tel : 49 (211)
94104-0 Fax : 49 (211)
94104-39 / 429803 SPAIN
BRANCH OFFICE Maximo Aguirre, 22 - Bajo 48930 Las Arenas (Vizcaya), SPAIN Tel : 34 (94)
480-2676 / 2686 Fax : 34 (94) 463-9776 DENMARK
OFFICE P.O.BOX. 217 Faergeparken 23/-1, 3600, Frederikssund,
DENMARK Tel: (45) 4738-4243 Fax: (45)4738-4263 NISSEI
ASB PTE. LIMITED India
Branch Office 231-233-235, Ansal Chambers-II, 6, Bhikaji Cama Place, New Delhi-110 066, INDIA Tel: 91 (11) 2618-1615/ 2619-4031 Fax: 91 (11) 2619-4129 Pakistan
Office 409 Progressive Square No. 11-A, Block-6, P.E.C.H.S., Karachi 75400, PAKISTAN Tel: 92 (21) 454-6533 Fax: 92 (21) 453-7469 Philippines
Office Unit 1703 Annapolis Wilshire Plaza, 11 Annapolis Street, Greenhills San Juan, Metro Manila, PHILIPPINES Tel: 63 (2) 725-4220 Fax: 63 (2) 725-4203 Australia
Office Suite 3, Level 4/ 695 Burke Road, Hawthorn East, Victoria 3123, AUSTRALIA Tel: 61 (3) 9882-4545 Fax: 61 (3) 9882-4646 NISSEI
ASB SOUTH AFRICA (Pty) LIMITED P.O. Box 11785, Centurion 0046, SOUTH AFRICA Tel : 27 (82)
658-2228 Fax : 27 (12)
667-3152 U.A.E.
Office Jebel Ali Free Zone LOB20/G017 P.O. Box 16789 Dubai, U.A.E. Tel: 971 (4) 8818184 Fax: 971 (4) 8817704 U.S.A
and Canada NISSEI ASB COMPANY 125 Westlake Parkway, Suite 120, Atlanta, Georgia 30336, U.S.A Tel: 1 (404)
699-7755 Fax: 1 (404) 696-9009 Central
America NISSEI
ASB CENTRO AMERICA, S.A. DE C.V. Torres Adalid No. 618, P.B. Col. Del Valle C. P.
03100, Mexico,.D.F., MEXICO Te l: 52 (555)
669-0069 / 1288 / 1404 Fax: 52 (555)
669-1645 South
America NISSEI
ASB SUDAMERICA LTDA Rua Dom Joao V, 435/437 Sao paulo-SP - Brasil CEP 05075 - 060, BRAZIL Tel: 55 (11) 3641-1012 / 1013 / 1014 Fax: 55 (11) 3831-9948 U.K.
and Ireland NISSEI
ASB LIMITED 2 Milnyard Square Bakewell Road, Orton Southgate, Peterborough PE2 6GX,U.K. Tel: 44 (1733) 233-544 Fax: 44 (1733) 235-647 ASB
PTE. (Thailand) COMPANY LIMITED 252/98 19th Floor, Muang, Thai-Patra II Rachadapisek Road,
Huaykwang, Bangkok, 10320, THAILAND Tel: 66 (2) 693-2581/2582/2583 Fax: 66 (2) 693-2584 SHANGHAI ASB MACHINE COMPANY LIMITED Shanghai Jiuting Econ-Techno,
Development Zone, No. 168 Puhui-Road, 201615,
P.R.CHINA Tel: 86 (21) 5763-0233 Fax: 86 (21) 5763-0227 NISSEI
ASB PTE. LIMITED 16A Science Park Drive, #04-04 The Pascal, Singapore Science Park, SINGAPORE 118 228 Tel: (65) 6778-4633 Fax: (65) 6778-9440 South and West Asia, Oceania, Africa and Middle East E-9 MIDC, Industrial Area, Anand Nagar, Addl. Ambernath, Dist. Thane-421506, Maharastra - INDIA Tel: 91 (251) 2621802 / 2621803 / 2621804 Fax: 91 (251)
2621805 / 2621815 Web: www.asbindia.com |
DIRECTORS
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Name : |
Mr. Daiichi Katachi Aoki |
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Designation : |
Chairman cum Managing Director |
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Address : |
4-5-1, Chome Midorigaoka, Veda-shi, Nagano-ken, Japan |
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Date of Birth/Age : |
27.09.1943 |
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Date of Appointment : |
28.05.1997 |
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Name : |
Mr. Ichiro Naota Mizuuchi |
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Designation : |
Managing Director |
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Address : |
376-2, Hirabayashi, Nagano-Shi, Nagano, Japan |
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Date of Birth/Age : |
13.04.1956 |
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Date of Appointment : |
27.07.1998 |
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Name : |
Mr. Kota Daiichi Aoki |
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Designation : |
Director |
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Address : |
1-4-5, Midorigaoka, Veda-shi, Nagano-ken - 386, Japan |
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Date of Birth/Age : |
15.11.1972 |
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Date of Appointment : |
04.08.1997 |
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Name : |
Mr. Koichi Shigekazu Kondo |
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Designation : |
Director |
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Address : |
973, Kurashina, Kosoyoku-shi, Nagano-ken, Japan |
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Date of Birth/Age : |
17.10.1958 |
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Date of Appointment : |
01.04.2001 |
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Name : |
Mr. Prakash Chandra Joshi |
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Designation : |
Director |
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Address : |
C-312, SFS Flats, Seikh Sarai, Phase – I,Malaviya Nagar, New Delhi,
India |
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Date of Birth/Age : |
14.11.1957 |
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Date of Appointment : |
09.06.2006 |
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Date of Ceasing : |
10.04.2000 |
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Name : |
Mrs. Supriya D. Chadha |
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Designation : |
Director |
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Address : |
B-158, Maharana Pratap Enclave, Pitampura, Extension, New Delhi, India |
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Date of Birth/Age : |
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Date of Appointment : |
25.02.1997 |
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Date of Ceasing : |
17.03.1997 |
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Name : |
Mr. Masayuki Masao Fukuoka |
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Designation : |
Director |
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Address : |
183 3-55-67, Yatuka Fuchu City, Tokyo, Japan |
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Date of Birth/Age : |
22.07.1943 |
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Date of Appointment : |
17.03.1997 |
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Date of Ceasing : |
27.07.1998 |
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Name : |
Mr. Kotaro Tadaki Araki |
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Designation : |
Director |
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Address : |
262-8, Maebara Kamasu, Komoro-shi, Nagano-ken, Japan |
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Date of Birth/Age : |
31.01.1936 |
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Date of Appointment : |
28.05.1997 |
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Date of Ceasing : |
01.04.1998 |
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Name : |
Mr. Yoshio Takeshi Ohshima |
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Designation : |
Director |
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Address : |
Hikarigaoka, 3-7-1-1808, Narima-ku, Tokyo, Japan |
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Date of Birth/Age : |
22.12.1938 |
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Date of Appointment : |
28.05.1997 |
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Date of Ceasing : |
03.07.1999 |
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Name : |
Mr. Osamu Yoshio Ohnishi |
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Designation : |
Director |
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Address : |
Minami-cho New Town, A 301, 3-12, Minami-cho-3, Chome, Komro-shi,
Nagano-ken, Japan |
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Date of Birth/Age : |
11.02.1944 |
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Date of Appointment : |
28.07.1999 |
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Date of Ceasing : |
08.03.2000 |
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Name : |
Mr. Masahiko Eiji Kaji |
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Designation : |
Managing Director |
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Address : |
1-15-18, Tnunishi, Kamakura, Japan, 248-0034 |
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Date of Birth/Age : |
16.02.1947 |
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Date of Appointment : |
01.04.1998 |
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Date of Ceasing : |
11.10.2001 |
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Name : |
Mr. Rajkumar Baghchand Jagyasi |
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Designation : |
Director |
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Address : |
Barrack No.1532, Room No.3, Sector No. 29, Ulhas Nagar, Thane –
421004, Maharashtra, India |
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Date of Birth/Age : |
11.12.1963 |
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Date of Appointment : |
09.06.2006 |
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Name : |
Mr. Shuichi Ogihara |
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Designation : |
Director |
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Address : |
461-1, Komoro Shi, Nagano-ken-Na, Japan |
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Date of Birth/Age : |
12.12.1953 |
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Date of Appointment : |
09.06.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Kaustubh Sriram Koparkar |
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Designation : |
Company Secretary |
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Address : |
A/15, Om Sudama Society, Mumbai-Pune Road, Kalwa, Thane – 400605,
Maharashtra, India |
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Date of Birth/Age : |
26.08.1973 |
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Date of Appointment : |
08.10.2001 |
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Date of Ceasing : |
28.02.2002 |
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Name : |
Mrs. Swati Anand Krishnan |
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Designation : |
Company Secretary |
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Address : |
2/168, Om Sakti C.H.S., Sion (East), Mumbai – 400022, Maharashtra,
India |
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Date of Birth/Age : |
10.03.1977 |
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Date of Appointment : |
20.12.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
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|
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|
Nissei ASB Machine Company Limited |
|
35999998 |
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Nissei ASB Machine Company Limited |
|
40000000 |
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Nissei ASB PTE Limited |
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2 |
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Total |
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76000000 |
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Category |
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Percentage |
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Foreign Holdings (FIIs, FCs, FFIs, NRIs, OCB or Others) |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Providing total solutions for production of
biaxially oriented PET containers. |
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Products : |
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Terms : |
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Purchasing : |
Credit (30 days / 90 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
718 |
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Bankers : |
·
Bank of Tokyo-Mitsubishi
Limited Hoechst House, 15th Floor, 193 Vinay K. Shah Marg, P. O.
Box No. 11522, Nariman Point, Mumbai – 400021 ·
HDFC Bank
Limited, Ambernath ·
Mizuho
Corporate Bank Limited, Mumbai |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
·
Deloitte Haskins and Sells Chartered Accountant Address
:
12, Annie Besant Road, Opp. Shiv Sagar Estate, Worli, Mumbai – 400 018,
Maharashtra, India ·
R. Salivati Chartered Accountant Address
:
12, Dr. Anne Besant Road, Opp. Shivsagar Estate, Worli, Mumbai – 400018,
Maharashtra, India |
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Holding Company : |
Nissei ASB Machine Company Limited, Japan |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36000000 |
Equity Share |
Rs.10/- each |
Rs.360.000 Millions |
|
40000000 |
Preference Share |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.760.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36000000 |
Equity Share |
Rs.10/- each |
Rs.360.000 Millions |
|
40000000 |
Preference Share |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.760.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 (Provisional) |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
760.000 |
760.000 |
760.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
208.800 |
169.737 |
37.428 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
968.800 |
929.737 |
797.428 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
336.800 |
378.312 |
380.112 |
|
|
TOTAL BORROWING |
336.800 |
378.312 |
380.112 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1305.600 |
1308.049 |
1177.540 |
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
721.800 |
736.717 |
768.732 |
|
|
Capital work-in-progress |
1.300 |
41.873 |
5.536 |
|
|
|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
736.000
|
532.185 |
446.064 |
|
|
Sundry Debtors |
180.900
|
149.598 |
217.292 |
|
|
Cash & Bank Balances |
32.500
|
96.386 |
50.880 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
77.400
|
54.388 |
48.894 |
|
Total
Current Assets |
1026.800
|
832.557 |
763.130 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
426.700
|
296.663 |
310.073 |
|
|
Provisions |
17.800
|
6.817 |
50.572 |
|
Total
Current Liabilities |
444.500
|
303.480 |
360.645 |
|
|
Net Current Assets |
582.300
|
529.077 |
402.485 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.200 |
0.382 |
0.787 |
|
|
|
|
|
|
|
|
TOTAL |
1305.600 |
1308.049 |
1177.540 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 (Provisional) |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
1715.800 |
1564.996 |
1601.854 |
|
|
Other Income |
6.800 |
0.000 |
0.000 |
|
|
Total Income |
1722.600 |
1564.996 |
1601.854 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
47.800 |
188.111 |
215.694 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
47.800 |
188.111 |
215.694 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
1177.500 |
1000.569 |
1246.559 |
|
|
Other Earnings |
0.359 |
0.000 |
0.000 |
|
Total Earnings |
1177.859 |
1000.569 |
1246.559 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
629.700 |
442.200 |
0.000 |
|
|
Stores & Spares |
20.100 |
22.400 |
0.000 |
|
|
Capital Goods |
11.200 |
4.800 |
0.000 |
|
Total Imports |
661.000 |
469.400 |
0.000 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
1233.600 |
0.000 |
0.000 |
|
|
Manufacturing Expenses |
207.000 |
0.000 |
0.000 |
|
|
Administrative Expenses |
106.400 |
0.000 |
0.000 |
|
|
Interest |
7.400 |
11.307 |
8.888 |
|
|
Depreciation & Amortization |
113.700 |
118.704 |
97.874 |
|
|
Other Expenditure |
6.700 |
1246.874 |
1279.398 |
|
Total Expenditure |
1674.800 |
1376.885 |
1386.160 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 (Provisional) |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
2.77
|
12.02 |
13.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.79
|
12.02 |
13.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.73
|
11.99 |
14.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.20 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.81
|
0.73 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
2.74 |
2.12 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Name of the company |
ASB INTERNATIONAL PRIVATE LIMITED |
|
Presented By |
Mr. Ichiro Naota Mizuuchi,
(Managing Director) |
|
1) Date and description of instrument creating the change |
27th June
2005- Hypothecation Agreement (Certified true
copy attached) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 70.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Pari-Passu Charge
with Mizuho Corporate Bank Limited, (for the working capital facility of
Rs.40.000 Millions taken from them) by way of hypothecation on stock in trade
and book-debts of the company as per the schedule of hypothecation Agreement
dated 27th June, 2005. (Copy of Consent
Letter of both the Bankers for creation of Pari Passu charge is enclosed
herewith) |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The following
facilities : Demand Loan, Over draft
Suppliers Credit, Buyers Credit and Letter of Credit total put together not
exceeding Rs.70.000 Millions Interest :
Benchmark PLR Linked |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of
Tokyo-Mitsubishi Limited Hoechst House, 15th
Floor, 193 Vinay K. Shah Marg, P. O. Box No. 11522, Nariman Point, Mumbai –
400021 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
As per website
details:
Profile:
Subject is a wholly owned subsidiary of Nissei ASB
Machine Company Limited, Japan. Nissei ASB
Machine Company Limited was founded in the year 1978 and through
the years continues to be a
world in manufacturing and providing total solutions for
production of biaxially
oriented PET containers. Subject has its head office in Japan and manufacturing
facilities at Japan, China and India besides having a world wide sales and
service network.
Subject besides
being a wholly owned subsidiary of Nissei ASB Machine
Company Limited, Japan is
also a 100% Export
Oriented Unit. Subject started
as a project in December 1997 and was formally
inaugrated on 23rd November 1999. The
Commercial production started from
January 2000. Subject
as on date comprises of
a world class manufacturing facility at Ambernath established at a
cost of over Rs.870 million. It
is one of the most modern and largest manufacturing facilities among PET
processing machine
manufacturers in the world.
Subject core competence ranges from conceptualisation through design to manufacturing of molds, machines & systems to satisfy the most discerning customer anywhere in the world by using world class manufacturing and quality standards.
Innovation is the key to their long standing leadership in PET bottle
molding technology. At the hearth of everything they do is an unwavering
commitment to satisfy the demands of their customers by developing new
technologies. Their products testify to their success in achieving this aim.
Subject has
developed molding machines
for producing a wide range
of bottle design, production
volumes & cost
considerations. Naturally, they also provide ample support to
ensure that their machines continue to run smoothly.
Subject has lived
up to the challenge
of a diversifying market
by developing machines to produce PET
bottles that withstand high temperatures. Subject has developed
machines for making reusable
containers, and systems for
recycling used resin. Their latest
development of efficient high-output machines allows them to broaden
their market even further.
They intend to
keep providing the best containers in the
world by giving
their customers the very best products & services that the container
manufacturing industry has to offer.
Services:
- Order-made Bottle Production System
- Complete Customer Services
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.42.78 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.67.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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. |
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 |
|