MIRA
INFORM REPORT
|
Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FERROMATIK MILACRON INDIA LIMITED |
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Formerly Known As : |
CINNATI MILACRON PRIVATE LIMITED |
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Registered Office : |
53, Madhuban, Near Madalpur Under Bridge, Ellisbridge,
Ahmedabad – 380006, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.05.1995 |
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Com. Reg. No.: |
04 – 25783 |
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CIN No.: [Company
Identification No.] |
U74999GJ1995PLC025783 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMF00035A |
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PAN No.: [Permanent
Account No.] |
AABCC0881D |
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Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturers and Sellers of Injection Moulding Machines
and Plastic Process Machines. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
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 2090965 |
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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 well-established and reputed company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Samir Parekh |
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Designation : |
D G Finance |
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Contact No.: |
91-9879014640 |
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Date : |
17.06.2008 |
LOCATIONS
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Registered Office : |
53, Madhuban, Near Madalpur Under Bridge, Ellisbridge,
Ahmedabad – 380006, Gujarat, India |
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Tel. No.: |
91-79-26440331/ 25890081 |
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Mobile No.: |
91-9879014640 |
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Fax No.: |
91-79-26421324 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Ferromatik Milacron India limited, 92, Phase – I, G. I. D. C., Vatva,
Ahmedabad – 382 445, Gujarat, India. |
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Tel. No.: |
91-79-25830063 / 25890133 / 25890081 |
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Fax No.: |
91-79-25830125 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. N. Mahendra Patel |
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Designation : |
Director |
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Address : |
15, Kairavi Bungalow, Near Sarthi Hotel, Vastrapur Road, Bodakdev,
Ahmedabad – 380 054, Gujarat, India |
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Date of Birth/Age : |
17.01.1949 |
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Date of Appointment : |
31.05.1995 |
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Name : |
Mr. J Thomas Zacharias |
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Designation : |
Director |
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Address : |
6535, Oriskamy Drive, Love Land, Cincinnati – 45140, Ohio, USA |
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Date of Birth/Age : |
29.09.1957 |
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Date of Appointment : |
31.05.1995 |
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Name : |
Mr. F. Bruce Kozak |
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Designation : |
Director |
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Address : |
5999, Wood View, Mil Ford, 45140, Ohio, USA |
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Date of Birth/Age : |
03.08.1948 |
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Date of Appointment : |
31.05.1995 |
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Name : |
Mr. J. Harold Faig |
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Designation : |
Director |
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Address : |
2244, Spinning Wheel Lane, Cincinnati – 45244, Ohio, USA |
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Date of Birth/Age : |
17.07.1948 |
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Date of Appointment : |
31.05.1995 |
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Name : |
Mr. J. William Gruber |
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Designation : |
Director |
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Address : |
4165, Halfacre Road, Batavia 45103, Ohio, USA |
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Date of Birth/Age : |
19.07.1953 |
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Date of Appointment : |
29.03.1996 |
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Name : |
Mr. Narsinhbhai K. Patel |
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Designation : |
Director |
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Address : |
15, Kairavi Bungalow, Near Sarthi Hotel, Vastrapur Road, Bodakdev,
Ahmedabad – 380 054, Gujarat, India |
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Date of Birth/Age : |
05.03.1926 |
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Date of Appointment : |
31.05.1995 |
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Name : |
Mr. L. Jerome Fedders |
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Designation : |
Director |
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Address : |
8439, Oak, Canyon Drive, Love
Land, Ohio 45140, USA |
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Date of Birth/Age : |
22.11.1943 |
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Date of Appointment : |
31.05.1995 |
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Name : |
Mr. S. Walter Wood |
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Designation : |
Director |
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Address : |
4701, Marburg Avenue, Milacron – 45244, Ohio, USA |
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Date of Birth/Age : |
16.01.1959 |
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Date of Appointment : |
19.06.1996 |
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Name : |
Mr. C. William Murray |
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Designation : |
Director |
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Address : |
2453, Coveyrun, South Cincinnati, Ohio – 45230, USA |
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Date of Birth/Age : |
30.12.1933 |
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Date of Appointment : |
13.11.1997 |
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Name : |
Mr. A. Ross Anderson |
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Designation : |
Director |
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Address : |
4196, Wood Knoll Drive, Batavia – 45103, Ohio, USA |
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Date of Birth/Age : |
16.12.1956 |
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Date of Appointment : |
18.02.1998 |
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Name : |
Mr. D. Ronald Brown |
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Designation : |
Director |
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Address : |
8819, Foxbro Court, Cincinnati, Ohio, USA |
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Date of Birth/Age : |
18.15.1953 |
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Date of Appointment : |
24.09.1998 |
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Name : |
Mr. P. David Hahn |
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Designation : |
Director |
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Address : |
P P Box 790, 200 Dekko Drive, Avilla, Indiana – 46710, USA |
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Date of Birth/Age : |
05.07.1941 |
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Date of Appointment : |
10.12.1998 |
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Name : |
Mr. I. James O’neal |
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Designation : |
Director / |
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Address : |
2085, Grand View Lane, Batavia, Ohio – 45103, USA |
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Date of Birth/Age : |
24.10.1952 |
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Date of Appointment : |
08.11.2000 |
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Name : |
Mr. R. Werle Dale |
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Designation : |
Director |
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Address : |
4165, Halfacre Road, Batavia – 45103, Ohio, USA |
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Date of Birth/Age : |
19.08.1959 |
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Date of Appointment : |
25.04.2001 |
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Name : |
Mr. C. Hohn Francy |
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Designation : |
Director |
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Address : |
2090, Florence Avenue, Cincinnati – 45206, Ohio, USA |
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Date of Birth/Age : |
24.10.1964 |
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Date of Appointment : |
25.04.2001 |
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Name : |
Ms. L. Linda Chavez |
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Designation : |
Director |
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Address : |
3809, Arobor Lane, Cincinnati – 45255, Ohio, USA |
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Date of Birth/Age : |
09.06.1961 |
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Date of Appointment : |
25.04.2001 |
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Name : |
Mr. I James O’neal |
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Designation : |
Chairman Cum Managing Director |
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Address : |
2085, Grand View Lane, Batavia, Ohio – 45103, USA |
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Date of Birth/Age : |
14.10.1952 |
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Date of Appointment : |
25.04.2001 |
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Name : |
Mr. C. Satyen Sarkar |
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Designation : |
Manager |
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Address : |
22, Shyamal Row Houses, Satellite Road, Ahmedabad – 380015, Gujarat,
India. |
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Date of Birth/Age : |
10.06.1948 |
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Date of Appointment : |
01.04.1999 |
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Name : |
Mr. K. Narasinh Balgi |
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Designation : |
Manager |
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Address : |
B – 401, Sumadhur –II, Near Azad Society, Ambawadi, Ahmedabad –
380015, Gujarat, India |
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Date of Birth/Age : |
01.06.1943 |
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Date of Appointment : |
01.04.1999 |
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Name : |
Mr. Woerner Jay |
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Designation : |
Chairman Cum Managing Director |
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Address : |
10596, Mountain, Laurelway Union, K Y 1091, USA |
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Date of Birth/Age : |
11.11.1949 |
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Date of Appointment : |
25.09.2003 |
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Name : |
Mr. Heinz Karl Bourdon |
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Designation : |
Director |
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Address : |
Waldstrasse 19, 79312, Emmendingen, Germany |
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Date of Birth/Age : |
12.06.1957 |
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Date of Appointment : |
25.09.2003 |
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Name : |
Mr. K. Narasinh Balgi |
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Designation : |
Director |
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Address : |
B – 401, Sumadhur – II, Near Azad Society, Ambawadi, Ahmedabad –
380015, Gujarat, India |
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Date of Birth/Age : |
01.06.1943 |
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Date of Appointment : |
05.06.1904 |
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Name : |
Mr. I James O’neal |
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Designation : |
Director |
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Address : |
2085, Grand View Lane, Batavia, Ohio – 45103, USA |
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Date of Birth/Age : |
24.10.1952 |
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Date of Appointment : |
16.02.2005 |
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|
Name : |
Mr. M. Manish Patel |
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Designation : |
Director |
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Address : |
15, Kairavi Bungalow, Near Sarthi Hotel, Vastrapuram Road, Bodakdev,
Ahmedabad – 380054, Gujarat, India |
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Date of Birth/Age : |
19.06.1980 |
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Date of Appointment : |
22.06.2006 |
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Name : |
Mr. Brijesh Thakker |
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Designation : |
Director |
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Name : |
Mr. J. V. Thakker |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. G. Pradip Mistry |
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Designation : |
Secretary |
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Address : |
1, Jagdeep, H I, Ghland Park Society, Gulabai Tekra, Ahmedabad –
380015, Gujarat, India |
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Date of Birth/Age : |
15.12.1957 |
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Date of Appointment : |
01.06.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 19.08.2006
|
Names of Shareholders |
No. of Shares |
|
Machinery Mamata |
2,21,085 |
|
Marketing Milacron |
26,89,830 |
|
Mr. B. Kaushik Patel |
2,000 |
|
Shantaben B. Patel |
2,000 |
|
Mr. M Kintendra Shah |
5,000 |
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Mr. Popatlal Ashok Patel |
5,000 |
|
Nayanaben M. Patel |
35,835 |
|
Tarana M. Patel |
15,000 |
|
Mr. Mrskirti K. Patel |
2,000 |
|
Mr. C. Bholabhai Patel |
2,000 |
|
Mr. N. Mahendra Patel |
20,250 |
|
Mr. Brijesh Thakker |
10 |
|
Mr. J. V. Thakker |
10 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
category |
Percentage |
|
1 |
Foreign holdings(foreign institutional
investor(s), foreign companie(s), foreign financial institution(s), non-resident
Indian(s) or overseas corporate bodies |
90.00 |
|
2 |
Bodies corporate (not mentioned above) |
7.00 |
|
3 |
Director or relatives of directors |
2.00 |
|
4 |
Other top fifty (50) shareholders (other
than listed above) |
1.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Sellers of Injection Moulding Machines
and Plastic Process Machines. |
||||||
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Products : |
v Plastic
processing machinery v Spares v Service charges v Injection Moulding Machines v
Injection Moulding Machines v Sigma v
Sigma v Delta v
Delta v Magna T v
Magna T v Elektron v
Elektron v Omega v
Omega v Magna v
Magna v Hydron v
Hydron v Maxima v
Maxima v Blow Moulding Machines v
Blow Moulding Machines v Versa PET v
Versa PET v Shuttle Series v
Shuttle Series
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Exports : |
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Countries : |
v Middle East v Africa |
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Imports : |
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Countries : |
v USA v Japan |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Plastic Processing Machinery
(as at 31.03.2005) |
Nos |
NA |
Not determined |
373 |
|
Plastic Processing Machinery
(as at 31.03.2004) |
Nos |
NA |
Not determined |
306 |
GENERAL
INFORMATION
|
Suppliers : |
v Akar Paints v Aarike
Engineering Enterprises v Ahmedabad Moulds v Akar Industries v Alpha Electric
And Engineering Private Limited v Anupam Leaters
And Controls Private Llimited v Ark Atlas Cabie
Industries v Aswel India
Private Limited v Bhagwati
Engineering Works v Bipin Industries
Corrosion Control v Diamond Tin
Industries v Drill Rod
Machinery Private Limited v Energy Machines
Private Limited v Esjay Industries v Excel Engineers v Harsiddh
Industries v Hasolon Polvmers
Corporation v Hercales
Industries Hydorlines v Hydrolines India
Hydor Engineers Private Limited |
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|
Customers : |
OEM’s |
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No. of Employees : |
300 |
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Bankers : |
v J. P. Morgan
Chase Bank, New York v Credit Lyonnais 1st Floor, ‘Abhijeet’, Mithakhali Cross Road, Ahmedabad – 380006, Gujarat, India v HDFC Bank,
Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India v ICICI Bank, JMC
House, Ahmedabad – 380006, Gujarat, India v Bank of Baroda 2nd Floor, Opp. Law Garden,
Ellis Bridge, Ahmedabad – 380006, Gujarat, India |
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Facilities : |
CC – Rs. 180.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S R Batliboi and Associates Chartered Accountants |
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Address : |
6th Floor, Express Tower, Nariman Point, Mumbai – 400 021,
Maharashtra, India. |
|
Collaborators : |
v Schelenkas Enterprises Inc., USA v Polydynamics Inc., Cananda v Klockner Hansel GmbH, Germany v Pure Pack Inc., USA v Hibar Systems, Canada v Alsan Technologies, Canada v Klockner Bartelt, Germany v KHB Investment Holdigns S.A., Luxumberg |
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Associates/Subsidiaries : |
v Mamata Brampton Engineering Private Limited v Mamata Solar Private Limited v Mamata Ariwings Private Limited v KHS Machinery Private Limited v Klockner Desma Machinery Private Limited v Mamata Machinery Private Limited v Sourcepro Infotech Private Limited v Mamata Marketing Services v Win Engineering Private Limited v Darling Muesco India Private Limited v Saturn Travels v Mukti Trust v Milacron plastic techonologies group inc v
Milacron international marketing company
Singapore v
Ferromatik Milacron maschinenbau combl v
Milacron tracing ( Shanghai) company limited v
Undov Milacron S R L v Milacron plastic machinery (jiangyn) company limited |
|
Holding Company: |
v Milacron marketing company |
|
Parent of Holding Company : |
v
Milacron inc. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity shares |
Rs. 100/- each |
Rs. 300.000 millions |
|
1000000 |
Preference shares |
Rs. 100/- each |
Rs. 100.000 millions |
|
|
Total |
|
Rs. 400.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity shares |
Rs. 100/- each |
Rs. 300.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
300.000 |
300.000 |
300.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
118.193 |
48.151 |
0.006 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
418.193 |
348.151 |
300.006 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.341 |
16.411 |
0.894 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
32.940 |
|
|
TOTAL BORROWING |
5.341 |
16.411 |
33.834 |
|
|
DEFERRED TAX LIABILITIES |
22.022 |
23.026 |
10.845 |
|
|
|
|
|
|
|
|
TOTAL |
445.556 |
387.588 |
351.009 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
259.150 |
236.977 |
223.761 |
|
|
Capital work-in-progress |
1.459 |
6.617 |
15.269 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
325.489
|
266.029
|
221.610 |
|
|
Sundry Debtors |
148.578
|
140.524
|
126.199 |
|
|
Cash & Bank Balances |
124.247
|
37.383
|
2.417 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
36.099
|
51.913
|
21.676 |
|
Total
Current Assets |
634.413
|
495.849
|
371.902 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
389.903
|
302.410
|
233.353 |
|
|
Provisions |
59.564
|
49.445
|
26.570 |
|
Total
Current Liabilities |
449.467
|
351.855
|
259.923 |
|
|
Net Current Assets |
184.946
|
143.994
|
111.979 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
445.556 |
387588 |
351.008 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
1349.101 |
1040.809 |
1013.989 |
|
|
Other Income |
18.338 |
19.932 |
10.091 |
|
|
Total Income |
1367.439 |
1060.741 |
1024.080 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
149.649 |
98.584 |
90.689 |
|
|
Provision for Taxation |
53.282 |
39.659 |
74.405 |
|
|
Profit/(Loss) After Tax |
96.367 |
58.925 |
16.284 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
898.530 |
768.481 |
705.570 |
|
|
Consumption of stores and spares parts |
11.316 |
10.325 |
8.002 |
|
|
Increase/(Decrease) in Finished Goods |
(16.210) |
43.358 |
(7.645) |
|
|
Salaries, Wages, Bonus, etc. |
85.108 |
66.231 |
44.456 |
|
|
Managerial Remuneration |
4.052 |
2.191 |
3.172 |
|
|
Interest |
0.263 |
0.643 |
17.886 |
|
|
Depreciation & Amortization |
19.921 |
18.238 |
15.668 |
|
|
Other Expenditure |
214.810 |
52.690 |
146.282 |
|
Total Expenditure |
1217.790 |
962.157 |
933.391 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
7.05
|
5.56 |
1.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.09
|
9.47 |
8.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.94
|
9.29 |
8.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.28 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.07
|
1.01 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.41 |
1.43 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74999GJ1995PLC025783 |
|
Name of the
company |
FERROMATIK MILACRON INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
53, Madhuban, Near Madalpur Under Bridge, Ellisbridge,
Ahmedabad – 380006, Gujarat, India |
|
Type of charge |
v
Book debts v
Movable
property (not being pledge) |
|
Particular of
charge holder |
Name : Bank of
Baroda Address : 2nd
Floor, Bank of Baroda Towers, Opp. Law Gareden, Ellis Bridge City :Ahmedabad State : Gujarat ISO country code
: IN Pin code : 380006 e-mail ID: corahm@bankofbaroda.com |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
hypothecation agreement. |
|
Date of instrument
Creating the charge |
22.12.2007 |
|
Amount secured by
the charge |
Rs. 90.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.75% (0.50%
below BPLR, Presently 12.75% p.a. monthly rest) Terms of
repayment Payable on demand Margin Raw material :
25% Consumable stores
and spares : 25% Stock in process
: 25% Finished goods :
25% Book debt : 25% EPC : 10% FPB/FBD : Nil Inland/Import LC
10% Guarantee : (Non Disputed)
: 10% Guarantee (Disputed) : 100% Extent operation
of the charge First pari passu
charge to secure funded working capital facilities along with HDFC Bank
Limited |
|
Short particulars
of the property charged |
As Per attached
annexure : short particulars of the property charged |
Fixed assets:
v Land leasehold
v Building
v Plant and
machinery
v Patterns and jigs
v Computers
v Furniture and
fixtures
v Office equipments
and air conditioner
v Vehicles
As Per Website
Details
Profile
Subject is one of the strategic and
important manufacturing base of Milacron Inc. USA, the global leader in
plastics processing machinery and manufacturing technologies. With over 120
years of manufacturing experience of Milacron Inc., they bring world-class
technology and innovation at the doorstep, helping plastic industry to stay
competitive in the ever-demanding global market.
Ferromatik Milacron strives to find better solutions to customer needs.
They are committed towards offering the best in terms of innovation, quality,
delivery and value, to build productivity. They are driven to provide growth
opportunities to the Employees, Suppliers and Shareholders while adhering to
the business philosophy of Total Quality Leadership and the Core Values viz. Customer
Satisfaction, Employee Opportunity, Company Growth and Integrity, in all they
do.
Purpose
"They are in the business of providing products and services to increase productivity of processors by offering appropriate technology, so as to generate Economic Value for Customers and Shareholder".
MILACRON INC, USA
First incorporated in 1884, Milacron is a leading supplier of technologically advanced products and services to the plastic processing and metal working industries, throughout the world. Over the years, it has grown to be the global leader in Plastics Processing Machinery Business with 12 different brands of machinery and supporting equipment operating under the "Milacron" umbrella, world wide.
v
World's broadest-line producer of machines, systems, tooling and
supplies for plastic processing.
v
The largest maker of plastics machinery in North America and second
largest worldwide.
v
World's broadest line producer of machines, systems, tooling and
supplies for the plastics processing industry.
v
The second largest cutting tool maker in North America and the third
largest worldwide.
The geographical
spread of the business and employment of people speaks for Milacron's global
presence.
Corporate Milestones:
v
Established in 1884
v
Sales Turnover US $ 1.3 billion - 2001
v
Over a century of the finest quality manufacturing traditions
v
Over 11,700 employees worldwide
v
30 major plants around the world
v
A "global" leader in advanced manufacturing capability and
state-of-the art technology.
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. 42.90 |
|
UK Pound |
1 |
Rs. 83.74 |
|
Euro |
1 |
Rs. 66.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
|
66 |
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 |
|