MIRA
INFORM REPORT
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Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
PMT MACHINES LIMITED |
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Formerly Known As : |
PMT MACHINE TOOL AUTOMATICS LIMITED |
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Registered Office : |
Post Bag No. 1102 Pimpri PF, Pune – 411 018
, Maharashtra |
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Country : |
India |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
08.09.1961 |
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Com. Reg. No.: |
11 – 12117 |
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CIN No.: [Company
Identification No.] |
U28932MH1961PLC012117 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEP00463B |
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PAN No.: [Permanent
Account No.] |
AAACP4680L |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Manufacturing, importing, exporting and of dealing in all kinds of machine tools, special purpose machines, single spindle and multi spindle automatic lathes, chucking lathes, turret lathes, capstan lathes and all other kinds of lathes as also all types of second operation machines, ancillary equipments, accessories, tools and related products. |
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 7381525 |
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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 : |
Mr. Rajagopalan denied business and financial details. Subject is a well established company having fine track. Trade relations are fair. Financial position is good. Payments are usually correct and as per commitments. The company is doing well. It can be considered good for any normal business dealings. |
LOCATIONS
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Registered Office : |
Post Bag No. 1102 Pimpri PF, Pune – 411 018, Maharashtra, India |
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Tel. No.: |
91-20-27426219/ 27426220/ 27426222/ 27426223/ 27426224 |
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Fax No.: |
91-20-27463208/ 27426235/ 27426231 |
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E-Mail : |
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Website : |
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Area : |
44300 Sq.ft |
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Location : |
Owned |
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Factory : |
Behind PCMC Building, Mumbai Pune Road, Pune – 411 018, Maharashtra,
India |
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Factory/Warehouse : |
Gat No.624, Hissa 4 E, 6 and 8, Village Kurali, Pune Nasik Road, Taluka Khed, District Pune, Maharashtra, India |
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Branches : |
Mumbai Name : Mr. Sachin
Desai Designation : Engineer
(Marketing) Mobile No : 91-9322034499 Address : 214, Linkway Estate,
CST No. 1093, New Link Road, Malad (West), Mumbai – 400 064, Maharashtra,
India Tel No.: 91-22-28729272 Fax No.: 91-22-28742071 E-mail : pmtmtal@vsnl.net Delhi Name : Mr. P.K. Bhatia Mobile No.: 91-9810401815 Tel No.: 91-11-22713516/ 22375922/ 30906992 Fax No.: 22375923 Bangalore Name : Mr.
M N Ananth Designation : Branch Manager Mobile No.:
91-9845026905 E-mail: pmt_bangalore@rediffmail.com Address : #
32, Ground Floor, V. N. R. Road, Madhavanagar, Bangalore - 560 001, Karnataka, India Tel No.:
91-80-22384971 Fax No.:
91-80-22384065 Chennai Name
: Mr. P. Prabhakar Designation : Branch
Manager Mobile No.:
91-9840096822 E-mail: pmt_chennai@rediffmail.com Address : Flat
No. H 3rd Floor., Mount Chamber, 758, Anna Salai, Chennai – 600002,
Tamilnadu, India Tel No.:
91-44--28515532 Name : Ramesh Babu Coimbatore Name
: Mr. Shankar Designation : Engineer
– Marketing Mobile No.: 91-9840366822 Name : Mr.
N. Ramesh Designation :
Engineer – Service Mobile No.:
91-9940196822 Address :
No.1590/4055, Opp. Central Water, Commission, LIG-1,Phase-3, Gandhimanager,
Pelamedu, Coimbatore - 641004 Jamshedpur Name
: Mr. Dalbir Singh Address :
P.O. Kitadih, Near New Post Office, Tatanagar, Jamshedpur - 831 007 Fax
No.: 91-657-2230941 E-mail : pmt_jsr@yahoo.com Kolkata Name :
Sanjib Chakraborty Address :
Flat No. 2/B (1st Floor) 203, G.L.T. Road, Kolkata - 700 035, West Bengal, India Tel No.:
91-33-25783530 Fax No.:
91-33-25783530 Nashik Name : Mr.
Lalit Thorat Designation :
Engineer (Marketing) Address : Bhagwati Row, House No. 5, Kamal Nagar,
Behind Godavari Bank, Kamathwade, Ambad, Fax No.: 91-253-2370539 E-mail : pmtnasik@rediffmail.com Vadodara Name
: Mr. H. C. Patel Tel No.:
91-265-2680720 / 2680730/ 2680270 Fax No.:
91-265-26802570 Kolhapur Name
: Mr. Sachin B. Patil Designation :
Engineer - Marketing Kolhapur
416003 Secunderabad Name : Mr.
Anand Tulpule Designation :
Area Manager Mobile No.: 91-9908502233 |
DIRECTORS
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Name : |
Mr. Nitin J. Sandesara |
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Designation : |
Director |
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Address : |
329, Jawahar Nagar, Goregaon (West), Mumbai – 40 0062, Maharashtra, India |
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Date of Birth/Age : |
19.03.1960 |
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Date of Appointment : |
25.10.1994 |
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Name : |
Mr. Rajbhashan O. Dixit |
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Designation : |
Director |
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Address : |
204/12, Jawahar Nagar, Goregaon (West), Mumbai – 400 062, Maharashtra, India |
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Date of Birth/Age : |
20.07.1961 |
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Date of Appointment : |
25.10.1994 |
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Name : |
Mr. Chetan J. Sundesara |
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Designation : |
Director |
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Address : |
329, Jawahar Nagar, Goregaon (West), Mumbai – 400 062, Maharashtra, India |
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Date of Birth/Age : |
25.09.1962 |
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Date of Appointment : |
17.02.1995 |
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Name : |
Mr. Vilas D. Joshi |
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Designation : |
Director |
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Address : |
95, Tarang, Annanpurna Jayprakash Nagar, Goregaon, Mumbai – 400 063, Maharashtra, India |
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Date of Birth/Age : |
08.11.1953 |
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Date of Appointment : |
25.10.1994 |
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Date of Ceasing : |
20.07.2005 |
KEY EXECUTIVES
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Name : |
Mr. Krushnakant Patel |
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Designation : |
Secretary |
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Address : |
9, Aadarsh Colony, Opp. Krishna Cinema, Sidhanath Road, Baroda – 390
001, Gujarat, India |
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Date of Birth/Age : |
30.01.1969 |
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Date of Appointment : |
01.10.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.12.2005
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Names of Shareholders |
No. of Shares |
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Mr. Chetan J. Sundesara |
1019520 |
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Mr. Nitin J. Sundesara |
2125600 |
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Mr. Rajbhushan O. Dixit |
4080 |
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Mr. Narendra B. Patel |
130160 |
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Mrs. Jayshreeben N. Patel |
204000 |
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Mr. Hitesh Patel |
200800 |
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Mr. Mayuri H. Patel |
251840 |
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Mr. Dipti C. Sundesara |
84000 |
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Mr. Gabriel Investments Private Limited |
320000 |
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Mrs. Trupti R. Patel |
60000 |
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Mrs. Janpriya Investments Private Limited |
320000 |
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Panoramic Investments Private Limited |
320000 |
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Richmond Investments Private Limited |
320000 |
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Blue Mark Mercantile Limited |
320000 |
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Puja Aqua Farms Private Limited3 |
320000 |
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Helicopter Services Private Limited |
220000 |
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Avon Bone Products Limited |
120000 |
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Bally Trading Private Limited |
200000 |
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Britney Trading Private Limited |
200000 |
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Dipraj Trading Private Limited |
200000 |
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Doral Trading Private Limited |
200000 |
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Embio Trading Private Limited |
200000 |
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Gabby Trading Private Limited |
200000 |
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Jash Distributors Private Limited |
300000 |
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Newport Enterprises Limited |
120000 |
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Reshma Enterprises Limited |
170000 |
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Sarovar Enterprises Limited |
170000 |
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Shreeji Drug Pharma Private Limited |
170000 |
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Turin Trading Private Limited |
170000 |
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Unique Proteins Private Limited |
200000 |
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Lotus Glycol Limited |
120000 |
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Raj Bones Limited |
120000 |
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Total |
9080000 |
Equity share breakup (Percentage of total equity)
As on 30.06.2006
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Sr. No. |
Category |
Percentage |
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1. |
Bodies corporate (not mentioned above) |
55.07 |
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2. |
Directors or relatives of directors |
35.60 |
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3. |
Other top fifty (50) shareholders (other
than listed above) |
9.33 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, importing, exporting and of dealing in all kinds of machine tools, special purpose machines, single spindle and multi spindle automatic lathes, chucking lathes, turret lathes, capstan lathes and all other kinds of lathes as also all types of second operation machines, ancillary equipments, accessories, tools and related products. |
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Products : |
v Single Spindle Automatic Lathe : CNC Turning v Machine : CNC Turning Lathe v CNC External Cam Grinding v Machine : CNC External Angular Wheel Head v Grinder : CNC Internal Grinder |
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Exports : |
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Countries : |
v Malaysia v Sri Lanka v Bangladesh v Nepal. |
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Imports : |
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Countries : |
v Germany v France v Switzerland. |
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Terms : |
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Selling : |
Cash, Contract, L/C and Credit (30 to 60 days) terms. |
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Purchasing : |
Cash, Contract, L/C and Credit (30 to 60 days) terms. |
GENERAL
INFORMATION
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Suppliers : |
v Harmann Pfanter GmbH, Ludwings Burg, Germany v Berthiex Saint Etiene, Paris v Premier Machine Works, Surendranagar, Gujarat v Sharda Machine Works Private Limited, Surendranagar, Gujarat |
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Customers : |
v Harrisons Engineering Company, Mumbai v Excel Process Private Limited, Mumbai v Herculas Hoists Limited, Mumbai v Bajaj Auto Limited, Mumbai |
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No. of Employees : |
2000 |
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Bankers : |
v UCO Bank Pimpari Branch, PF Pimpri, Pune – 411 018, Maharashtra v Andhra Bank 610, Sachapir Street, Pune – 411 001, Maharashtra v Punjab National Bank Pune Camp Branch, Pune – 411 001, Maharashtra v Indian Bank Deccan Gymkhana Branch, Pune v Oriental Bank of Commerce Pimpri, Pune v HDFC Bank Limited Lower Parel, Mumbai v State Bank of India Industrial Finance Branch, Pune – 411 003, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
H. S. Hathi and Company Chartered Accountants |
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Address : |
Gajanan Building No. 5, 110, Jawaharnagar, Goregaon (West), Mumbai –
400 062, Maharashtra, India |
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Affiliates: |
v PMT Engineering and Export Company Private Limited, India v Petrochem Equipment Corporation, India v Perfect Machine Tools Company Private Limited, India |
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Subsidiaries: |
PMT Metrology and Electronic Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
250,00,000 |
Equity shares |
Rs. 10/- each |
Rs. 250.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
90,80,000 |
Equity shares |
Rs. 10/- each |
Rs. 90.800 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
30.06.2006 |
30.06.2005 |
30.06.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
90.800 |
90.800 |
90.800 |
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2] Share Application Money |
250.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1135.505 |
912.510 |
772.159 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1476.305 |
1003.310 |
862.959 |
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LOAN FUNDS |
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1] Secured Loans |
1182.465 |
894.981 |
737.300 |
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2] Unsecured Loans |
0.000 |
0.000 |
50.000 |
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TOTAL BORROWING |
1182.465 |
894.981 |
787.300 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2658.770 |
1898.291 |
1650.259 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
791.133 |
746.415 |
582.499 |
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Capital work-in-progress |
284.800 |
25.000 |
22.500 |
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INVESTMENT |
198.380 |
0.380 |
0.380 |
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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 |
1112.340
|
877.178 |
840.021 |
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Sundry Debtors |
392.146
|
282.071 |
203.262 |
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Cash & Bank Balances |
43.804
|
47.465 |
42.038 |
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Other Current Assets |
1.795
|
1.555 |
1.230 |
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Loans & Advances |
151.615
|
136.531 |
127.890 |
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Total
Current Assets |
1701.700
|
1344.800 |
1214.441 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
261.700
|
218.807 |
218.110 |
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Provisions |
73.000 |
52.500 |
40.000 |
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Total
Current Liabilities |
334.700
|
271.307 |
258.110 |
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Net Current Assets |
1367.000
|
1073.493 |
956.331 |
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MISCELLANEOUS EXPENSES |
17.457 |
53.003 |
88.549 |
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TOTAL |
2658.770 |
1898.291 |
1650.259 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
30.06.2006 |
30.06.2005 |
30.06.2004 |
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Sales Turnover |
1888.754 |
1512.527 |
1332.212 |
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Other Income |
9.700 |
9.054 |
0.000 |
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Total Income |
1898.454 |
1521.581 |
1332.212 |
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Profit/(Loss) Before Tax |
299.153 |
203.509 |
177.927 |
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Provision for Taxation |
73.000 |
52.500 |
40.000 |
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Profit/(Loss) After Tax |
226.153 |
151.009 |
137.927 |
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Exports : |
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Other Export Value |
NA |
NA |
137.658 |
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Total |
NA |
NA |
137.658 |
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Imports : |
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Other Import Value |
NA |
NA |
211.398 |
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Total |
NA |
NA |
211.398 |
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Expenditures : |
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Raw Material Consumed |
1209.839 |
911.692 |
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Consumption of stores and spares parts |
48.744 |
38.610 |
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Increase/(Decrease) in Finished Goods |
(168.710) |
(53.608) |
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Salaries, Wages, Bonus, etc. |
102.434 |
81.452 |
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Payment to Auditors |
0.475 |
0.325 |
1154.285 |
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Interest |
115.580 |
120.975 |
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Power & Fuel |
57.456 |
41.313 |
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Depreciation & Amortization |
68.986 |
46.450 |
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Other Expenditure |
164.497 |
130.863 |
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Total Expenditure |
1599.301 |
1318.072 |
1154.285 |
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KEY RATIOS
|
PARTICULARS |
|
30.06.2006 |
30.06.2005 |
30.06.2004 |
|
PAT / Total Income |
(%) |
11.91
|
9.92 |
10.35 |
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Net Profit Margin (PBT/Sales) |
(%) |
15.84
|
13.45 |
13.36 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.76
|
13.37 |
10.35 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.20 |
0.21 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.23
|
0.27 |
0.30 |
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Current Ratio (Current Asset/Current Liability) |
|
5.08
|
4.96 |
4.70 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
Corporation identity number or foreign
company registrations number of the company
|
U28932MH1961PLC012117 |
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Name of the company |
PMT MACHINES LIMITED |
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Address |
Bombay-Pune Road, P. O. Pimpri PF, P. O. Box - 1102, Pune,
Maharashtra |
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This Form is for |
Creation of charge |
|
Type of Charges |
v
Book debts v
Movable property (not being pledge) |
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Particular of the charge holder |
Name : IL and FS Trust Company Limited Address: IL and FS Financial Centre, Plot C –
22, G Block, Bandra Kurla Complex, Bandra (East) City : Mumbai State : Maharashtra ISO country code: IN Pin code : 400 051 e-mail ID: sujata.achrekar@ilfsindia.com
|
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Nature or description of the instruments |
Deed of Hypothecation |
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Date of instrument creating or modifying the
charge |
20.03.2007 |
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Amount Secure by the charge |
Rs. 3742.750 millions |
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Brief of the principal terms and conditions
and extent and operation of the charge |
Rate of Interest The rate of Interest on the loan for each
interest period is the percentage ratew per annum which is the aggregate of
applicable: a) Margin b) Libor Terms of repayment The borrower shall repay the loan in full on
the repayment date i.e. 06.10.2011 Extent and operation of the charge a) The whole of the present and future
movable assets of the borrowert (excluding stocks and variables) by way of 1st
charge ranking pari passu with the charge created and existing in favour of the
banks and institutions. b) All the present and future stocks and
receivables of the borrower by way of 2nd charge ranking pari
passu with charge created and existing in favour of banks institutions but
subject to and subservient to the change created, existing in favour of banks
and institutions. |
|
Short Particulars of the Property
charged |
a) The whole of the present and future
movable assets of the borrowert (excluding stocks and variables) by way of 1st
charge ranking pari passu with the charge created and existing in favour of
the banks and institutions. b) All the present and future stocks and
receivables of the borrower by way of 2nd charge ranking pari
passu with charge created and existing in favour of banks institutions but
subject to and subservient to the change created, existing in favour of banks
and institutions. |
|
Whether any of the property or interest
therein not registered in name of the company |
No |
As Per Website
Details
In 1963 Subject was established as TRAUB (India) to produce quality products for the Engineering and Automobile industry. They belong to the esteemed Sandesara Group. The range of machinery stretches from CNC Turning machines, Hi-tech multi operational Grinding machines to cutting edge Automatic lathes. The technical collaborations are with companies like, Traub, Pittler, Fortuna, Voumard and Mikrosa in the past, and ISO 9001:2000 certification of quality standards, PMT Machines Limited aims to offer the latest global innovations to Indian and Global customers.
Quality
Subject is known for its quality and precision, this has been achieved due to the strong commitment towards manufacturing zero-defect products.
Every machine, built undergoes quality tests as per DIN
standards. The ISO 9001:2000 certification acknowledged by TUV Cert Germany
testifies the high product quality; other resources such as Reinishaw Laser
Calibration Equipment, Tesa Co-ordinate Measuring Machine, Taylor and Hobson
Surface and Roundness Calibration Machine also testify the same.
Design
Working in tandem with industrial requirements, PMT Machines
Ltd has established a strong R and D foundation. Our Application Engineering
Division offers especially designed & upgraded technical solutions for
requirements in Automats, Turning and Grinding.
The experts at PMT comprise of professionals with extensive industrial
experience, focusing towards fulfilling the customers' expectations.
Marketing
PMT ML major aim is highest levels of customer satisfaction.
They even provide after sales services, the duty continues even after the
product delivery. One can find the Marketing network centers in Mumbai, New
Delhi, Bangalore, Jamshedpur, Baroda, Chennai, Calcutta, Coimbatore, Nasik,
Nagpur, Chandhighar and a Global Network in USA, Germany, Japan, Italy and
Singapore, Korea.
Operations
During the year, company has achieved Total Sales of Rs. 1323.200 millions as against Rs. 1010.114 millions in the previous year, an increase of 31%. Gross Profit during the year is Rs. 330.133 millions as compared to Rs. 291.734 millions in the previous year. Profit after tax for the year is Rs. 137.927 millions compared to Rs. 100.070 millions in 2002-2003, an increase of 37.83%. The overall strategy in improving capacity utilization, reduction of overheads along with sustained focus on quality, latest technology, product innovation contributed to the improved performance of the company. In view of the continued buoyant domestic market the company is confident of maintaining the tempo on sales and profitability.
Future Prospects
The domestic demand for machine tools has grown rapidly since 2002-03 and showing signs of sustenance of the next few years, thanks to the auto component boom and overall increase in economic activity. The expected growth rate this year is over 20%. Export from nearly 10% of the production and lot of efforts in on to enhance it further.
In the Indian industry, the automotive ancillary is currently witnessing immense business opportunities, especially in the overseas markets. The Automotive Component Manufacturers Association of India [ACMA] reports export of $ 1 billion last financial year and is targeting to grow to $5% billion [ever figures of $10 billion are mentioned] by the year 2010.
Much of the optimiosm in the auto ancillary industry has been possible because of the significant contribution made by the Indian machine tool industry. Today, most auto component manufacturers in the country use Computer controlled [CNC] machine tools – 80% of which is supplied by the indigenous machine tool manufacturers. Indian machine tool industry has further invested in technology and capital to greatly enhance capacity to meet the growing needs.
The company has equipped itself to encash the opportunity. The company’s strength is high designing & engineering capability with low labour cost. The company has witnessed higher demand from all fronts, Domestic as well from Overseas. Order book position of the company as compared to previous year has been encouraging and therefore the directors are confident that the future prospects of the company is bright.
Change Of Name Of The
Company To PMT Machines Limited
During the year the name of the company has been changed from PMT Machine Tool Automatics Limited to PMT Machines Limited. The company has established its core competence in manufacture of new generation CNC Grinding Machines, Turning Machines and like other sophisticated and high tech machines as per the requirements of customers and therefore to reflect precisely the present activity of the company, i.e. manufacture of machines, the company has got its name changed to PMT Machines Limited.
‘Resolved That’
pursuant to the provisions of Section 293 [1] [d] of the Companies Act, 1956,
and in super cession of the earlier resolution[s] the Board of Directors of the
company be and is hereby authorized to borrow money from time to time up to a
limit not exceeding in the aggregate Rs. 10000 millions notwithstanding that
the monies already borrowed and the monies to be borrowed by the company will
exceed the aggregate of the paid up capital and its free reserves, that is to
say reserves not set apart for any specific purposes.
Fixed Assets
v
Land
v
Building
v
Plant and
Machinery
v
Furniture and
Fixtures
v
Vehicles
v
Workshop
Equipments
v
Computer
Accessories
v
Patterns
v
Electrical
Fittings
v
Office
Equipments.
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 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 :
The 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.
The 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. 42.30 |
|
UK Pound |
1 |
Rs. 84.03 |
|
Euro |
1 |
Rs. 66.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|