MIRA
INFORM REPORT
|
Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AGS INFOTECH PRIVATE LIMITED |
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Registered Office : |
601, 602 Trade World – B Wing, Kamal Mill Compound, Senapati Bapat Marg,
Lower Parel, Mumbai-400013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.12.2002 |
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Com. Reg. No.: |
11-138213 |
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CIN No.: [Company
Identification No.] |
U72200MH2002PTC138213 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA18573C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Equipment Body for BT- Tintmaster Dispensing Pumps, Manual
Machines and Trading of ATM Machines |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1000000 |
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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 good.
Payments are reported as usually correct and as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
601, 602 Trade World – B Wing, Kamal Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai-400013, Maharashtra, India |
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Tel. No.: |
91-22-67812000 |
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Fax No.: |
91-22-24935384 |
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E-Mail : |
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Website : |
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Factory : |
Units: 19 to 21, Building No. 2, (A-3), Sector 1, Millennium Business
Park, MIDC, Mahape, Navi Mumbai-400709, Maharashtra, India |
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Tel. No.: |
91-22-67812211 |
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Fax No.: |
91-22-67910462 |
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Branches : |
Located at:- ·
Ahmedabad ·
Amritsar ·
Bengaluru ·
Chennai ·
Chandigarh ·
Cuttack ·
Delhi ·
Guwahati ·
Hyderabad ·
Indore ·
Kollkata ·
Kochi ·
Ludhiana ·
Patna ·
Pune ·
Pondicherry |
DIRECTORS
|
Name : |
Mr. Ravi Badrinarayan Goyal |
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Designation : |
Director |
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Address : |
204, 2nd Floor, Shreenath Niwas, Poddar Road, Santacruz
(West), Mumbai-400054, Maharashtra, India |
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Date of Birth: |
03.09.1962 |
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Date of Appointment : |
11.12.2002 |
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Name : |
Mr. Kunjbihari Badrinarayan Goyal |
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Designation : |
Director |
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Address : |
204, 2nd Floor, Shreenath Niwas, Poddar Road, Santacruz
(West), Mumbai-400054, Maharashtra, India |
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Date of Birth : |
09.05.1940 |
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Date of Appointment : |
11.12.2002 |
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Name : |
Mr. Shriniwas Kunjbihari Goyal |
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Designation : |
Director |
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Address : |
204, 2nd Floor, Shreenath Niwas, Poddar Road, Santacruz
(West), Mumbai-400054, Maharashtra, India |
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Date of Birth : |
28.09.1920 |
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Date of Appointment : |
11.12.2002 |
KEY EXECUTIVES
|
Name : |
Mr. Shriram P Imartey |
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Designation : |
Company Secretary |
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Address : |
A-2/2, Flat No. 4, Dahivali CHSL, Kandarpada, Dahisar (West),
Mumvbai-400068, Maharashtra, India |
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Name : |
Mr. Nirmal Acharya |
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Designation : |
Senior Business Development Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Ravi Badrinarian Goyal |
|
4950000 |
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Kunjbihari Badrinarayan Goyal |
|
25000 |
|
Shriniwas Kunjbihari Goyal |
|
25000 |
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Total |
|
5000000 |
As on 31.03.2006
|
List of Allottees |
|
No. of Shares Allotted |
|
Ravi B Goayal |
|
4000000 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Equipment Body for BT- Tintmaster Dispensing Pumps,
Manual Machines and Trading of ATM Machines |
GENERAL
INFORMATION
|
Suppliers : |
·
Fast and Fluid Management, Australia ·
Axeomatic Electronics, Singapore ·
On Tract Innovatiions Limited ·
Wincor Nixdoff ·
Teknic Euchner Electronics Private Limited |
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|
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Bankers : |
·
Citi Bank N.A, Citi Group Centre, C-61, G-Block, Bandra Kurla Complex,
Bandra (East), Mumbai-400051, Maharashtra, India ·
Centurian
Bank of Punjab Limited, 25/26, Maker Chambers III, Nariman Point,
Mumbai-400021, Maharashtra, India ·
Standard
Chartered Bank, 90, M G Road, Fort, Mumbai-400001, Maharashtra, India ·
ICICI Bank
Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Parikh and Prikh Chartered Accountant |
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Address : |
42, Dahanukar Building, 480, Kalbadevi Road, Mumbai-400002,
Maharashtra, India |
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Tel.No: |
91-22-22010379 |
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Fax No.: |
91-22-22030796 |
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Group Companies: |
·
Advanced Graphic Systems ·
Fillon Technologies Private Limited ·
AGS Infotech ·
India Transact Services Private Limited ·
AGS Sundyne Techonologies Private Limited |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Milions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Milions |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
50.000 |
50.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
168.066 |
89.452 |
44.245 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
218.066 |
139.452 |
54.245 |
|
|
LOAN FUNDS |
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|
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1] Secured Loans |
0.000 |
12.590 |
0.000 |
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2] Unsecured Loans |
59.739 |
44.674 |
43.425 |
|
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TOTAL BORROWING |
59.739 |
57.264 |
43.425 |
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DEFERRED TAX LIABILITIES |
0.954 |
0.688 |
0.576 |
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TOTAL |
278.759 |
197.404 |
98.246 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
36.004 |
13.373 |
13.669 |
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|
Capital work-in-progress |
0.000 |
17.207 |
7.392 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
225.449
|
118.379
|
47.853 |
|
|
Sundry Debtors |
359.510
|
59.810
|
53.585 |
|
|
Cash & Bank Balances |
12.948
|
0.108
|
1.287 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
68.939
|
69.651
|
5.262 |
|
Total
Current Assets |
666.846
|
247.948
|
107.987 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
404.936
|
73.517
|
26.613 |
|
|
Provisions |
19.500
|
8.000
|
4.350 |
|
Total
Current Liabilities |
424.436
|
81.517
|
30.963 |
|
|
Net Current Assets |
242.410
|
166.431
|
77.024 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.345 |
0.393 |
0.161 |
|
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|
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|
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TOTAL |
278.759 |
197.404 |
98.246 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
1412.936 |
446.531 |
321.119 |
|
|
Other Income |
7.089 |
15.448 |
0.000 |
|
|
Total Income |
1420.025 |
461.979 |
321.119 |
|
|
|
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|
|
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|
Profit/(Loss) Before Tax |
90.962 |
50.409 |
36.788 |
|
|
Provision for Taxation |
12.348 |
5.202 |
3.491 |
|
|
Profit/(Loss) After Tax |
78.614 |
45.207 |
33.297 |
|
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Earnings in Foreign Currency : |
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|
|
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Export Earnings |
16.811 |
14.360 |
13.402 |
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Imports : |
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|
|
|
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Import Value |
1154.886 |
354.014 |
185.517 |
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Change in Stock |
[44.927] |
[64.570] |
0.000 |
|
|
Other Expenses |
1366.901 |
476.140 |
0.000 |
|
Total Expenditure |
1321.974 |
411.570 |
284.331 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
5.54
|
9.78 |
10.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.41
|
11.28 |
11.45 |
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.94
|
16.52 |
30.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.36 |
0.67 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.22
|
0.99 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
3.04 |
3.49 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U72200MH2002PTC138213 |
|
Name of the
company |
AGS INFOTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
601, 602 Trade World – B Wing, Kamal Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai-400013, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
Centurian Bank of
Punjab Limited, 25/26, Maker Chambers III, Nariman Point, Mumbai-400021,
Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of Hypothecation
of Goods, Plant and Machienry, Stocks and Book Debts |
|
Date of
instrument Creating the charge |
06.02.2008 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Terms of Repayment 12 Months Margin @20% Extent and Operation of the charge i)
Charge shall
rank on first pari passu basis with charges created and/ or to be created in
favour of Citibank N.A to the extent of Rs. 200.000 Millions ii)
Security to
cover all moneys, including the principal sums, interest/ commission, costs,
charges, expenses and all other moneys. Others i)
Security
created in respect of the following credit facilities: Import / Inland
Letter of Credit Rs. 50.000 Millions Bank Guarantee
Forex Cover Rs. 50.000 Millions Sub Limit of non
based limit R.s 10.000 Millions ii)
Commision @
1.50% on Bank Guarantee and As per card rates on Import/ Inland LC |
|
Short particulars
of the property charged |
All Present and
Future: i)
Tangible movable
machineries and Plant, Movable fixed assets ii)
Tangible
movable proepeties, goods, documents of title to goods, vehnicles and assets
of whatsoever nature including all stocks, spare parts, components. iii)
Book debts, outstanding,
money receivables, claims, bills iv)
Office
furniture, fixtures and fittings, stores, spares, equipments, computers, and
more particularly described in the Annexure attached hereto |
|
This form is for |
Creation of
charge |
|
Charge identification
Number |
10040756 |
|
Corporate
identity number of the company |
U72200MH2002PTC138213 |
|
Name of the
company |
AGS INFOTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
601, 602 Trade World – B Wing, Kamal Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai-400013, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Citi Bank N.A, Citi Group Centre, C-61, G-Block, Bandra Kurla Complex,
Bandra (East), Mumbai-400051, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Modification of
Memorandum of Entry |
|
Date of instrument
Creating the charge |
07.04.2008 |
|
Amount secured by
the charge |
Rs. 200.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The Borrower shall
pay interest at such rate as may be determined by Citibank NA from time to
time. Terms of Repayment Loan Shall be
repayable on Demand Margin Borrower shall at
all times during the continuanace of this security maintain as sufficient
amount to provide the margin of security as may form time to time advised by
the bank Extent and Operation of the charge The Company
accorded and gave oral consent to Citibank N.A to hold and retain the title
deeds in respect of the Company’s immovable properties as described at Item
No. 14 to secure the increased credit facilities of Rs. 200.000 Millions of
Citibank and also the Working Capital facilities of Rs. 100.000 Millions and
Rs. 250.000 Millions granted by Centurion Bank of Punjab and Standard
Chartered Bank respective ely for repayment of Others The charge
created herein shall rank pari-passu first charge inter Se Citibank NA,
Centruion Bank of Punjab and Standard Chartered Bank for securing their
working capital facilities of Rs. 200.000 Millions Rs. 100.000 Millions and
RS. 250.000 Millions respectively. |
|
Short particulars
of the property charged |
Equitable
Mortgage on Property including land and building situated at i)
05 and 06, 6th
Floor, Trade World, Mumbai and 19, 20 and 21 2(A-3) Ground Floor, Millennium
Business Park, Park, Thane ii)
173/1,
173/2, Ground Floor, Deabhel, Nani Dman, Daman |
|
Date of latest
modification prior to the present modification |
25.01.2007 |
|
Particulars of
the present modification |
The Charge now increased
from Rs. 150.000 Millions to Rs. 200.000 Millions in favour of Citibank NA
(on first pari passu basis with Centurion Bank of Pubjab and Standard
Chartered Bank) against the Security of immovable properties of the company. |
AS PER WEBSITE:
About Group Companies:
Mission
Meeting future's needs, with innovative solutions
Vision
The preferred “Solutions Enabler” to diverse businesses in the IT
automation space.
Values
Transparency
Not only are the practices and policies transparent to the employees, they also
maintain a similar equilibrium with the customers, vendors and financial
institutions.
Commitment
Commitment to the internal and external stakeholders is of paramount importance
to them. It has endeavoured to balance long term & short term interests of
the customers.
Pace of delivery
In today’s competitive scenario, the customers require faster turn-
around to deliver and maintain an automation solution. The round the clock
services are focused just upon this.
The Group
Companies
Advanced Graphic
Systems (AGS):
Advanced Graphic Systems (AGS) was established in 1992 by Mr. Ravi Goyal
with marketing of Computer Aided Textile Designing Systems from Computer Design
Inc., USA and soon became the market leader for CAD systems in India. AGS CAD
users list includes BTRA, Zodiac, Mantra, and West Coast etc.
AGS is now in the forefront of colour technology, specialising in
offering Total Colour Solutions for all Colour Industries, in particular
for Textiles, Paints, Plastics, Graphic Arts, Automobiles, Printing Ink
manufacturers and users, Soaps & Detergents, foods, cosmetics etc.
Fillon
Technologies Private Limited:
Fillon Technologies Private Limited is as joint venture of Fillon
Investments, France and AGS for manufacturing of mixing systems required for
automotive industry
AGS Infotech:
AGS Infotech was established in 2003 as a principal distributor for
Wincor Nixdorf International GmbH and Postec. The company offers technology-
based solutions for the banking, petroleum, postal and retail sectors. The
manufacturing of Automatic and Manual dispensers under the license of Fast and
Fluid Management was also brought under AGS Infotech.
AGS Infotech – Path Breakers in Transaction Automation and Dispensing
systems
From the very beginning, AGS has cultivated a practice of value addition
that goes far beyond pushing the box. It has successfully introduced many new
technologies in the market and is proud to be the path breakers.
• AGS is the first to introduce the 5th Generation ATMs with advanced
robotic arm cash dispensers- ATM’s that effectively raised the benchmark
for both speed and uptime in the ATM industry
• AGS is the first in the Indian Industry to set up finger print
recognition in ATM’s along with audio visual application specifically designed
for them of the farmers in rural India
• AGS is the first to launch and implement the E-Token that
replaces the physical token at the branch for third party cash withdrawal at
the ATM
• AGS was the first to introduce and implement Cheque Truncation
Kiosks in the country
• AGS was the first to introduce and implement One-To-One marketing
on the ATM
India Transact
Services Private Limited:
India Transact Services Private Limited was formed in 2007 to promote
the business of electronic / online services to consumers in the B2C space. It
is an enabler and aggregator of multiple services delivered to consumers through
various channels. India Transact services introduced India Transact e-kiosk,
India’s first multi-utility e-kiosk deployed at Hindustan petroleum Corporation
Limited petrol bunks.
AGS Sundyne
Technologies Private Limited:
Established in 2007, AGS Sundyne Technologies Private Limited is a new
generation enterprise wholly dedicated to offering enterprise class, cutting
edge embedded technologies.
AGS is a brand that touches the lives without you knowing it. AGS as a
group provides state-of–the-art technology through quality products and
services to deliver convenience to consumers every single moment. The group was
established in 1992 by Mr. Ravi Goyal with marketing of Computer Aided Textile
Designing Systems from Computer Design Inc., USA and soon it became the market
leader starting with CDA system in India. Over the years, AGS has developed and
expertise in several core solution like IT Automation for Color, Textile,
Banking, Retail and Petroleum industries. AGS is an exclusive Sales and Service
partner for several world leaders MNC like Fast and Fluid Management,
X-RITE Inc, Wincor Nixdorf etc.
AGS delivers effective, accountable and Post-modern automation solutions
space through out various markets. Today, AGS Group represents global companies
such as Fast and Fluid Management (Netherlands), Filion Technologies (France),
Postec (New Zealand), Wincor Nixdorf (Germany) and X-Rite (USA) etc., and
achieved the highest market share in automation solutions. Customer service and
customer satisfaction has been the prime motto of AGS, which took AGS way above
the competition.
Index
AGS is a brand that touches the lives without you
knowing it. AGS as a group provides state-of–the-art technology through quality
products and services to deliver convenience to consumers every single moment.
The group was established in 1992 by Mr. Ravi Goyal with marketing of Computer
Aided Textile Designing Systems from Computer Design Inc., USA and soon it
became the market leader starting with CDA system in India. Over the years, AGS
has developed and expertise in several core solution like IT Automation for
Color, Textile, Banking, Retail and Petroleum industries. AGS is an exclusive
Sales and Service partner for several world leaders MNC like Fast and
Fluid Management, X-RITE Inc, Wincor Nixdorf etc.
AGS delivers effective, accountable and Post-modern automation solutions space
through out various markets. Today, AGS Group represents global companies such
as Fast and Fluid Management (Netherlands), Filion Technologies (France),
Postec (New Zealand), Wincor Nixdorf (Germany) and X-Rite (USA) etc., and
achieved the highest market share in automation solutions. Customer service and
customer satisfaction has been the prime motto of AGS, which took AGS way above
the competition.
AGS group consists of 6 companies namely: Advanced Graphic
Systems, AGS Infotech, Filion Technologies India, AGS Sundyne Technologies,
India Transact Services and Instrument Research Associates. AGS has
representations in India across 80 locations through its service hubs, regional
offices and a manufacturing unit in Daman, Gujarat. The current turnover of the
AGS group is Rs. 3000.000 Millions with employee strength of 600.
They at AGS believe
in providing quality solutions and services to both the internal and external
Stakeholders. They are continuously growing exponentially with a focus on
developing people, defining processes and empowering the customers.
Corporate Profile
AGS InfoTech was set up in 2003 in as a principal distributor for Wincor
Nixdorf International GmbH and Postec. The company offers technology-based
solutions for the banking, petroleum, postal and retail sectors.
Advanced Self-Service automation systems
from AGS Infotech
For the Banking sector AGS Infotech offers Wincor Nixdorf Automated
Teller Machines, Cash Dispensers, Cash Deposit machines, Cash Re- Cycling
Machines, Banking Transaction Terminals (Kiosks), Assisted Teller Systems
plus the entire range of Wincor Nixdorf’s Self – Service Terminal
Software.
For the Retail Industry the company offers retail POS, Store Automation
Peripherals, Store Automation Solutions, Information Kiosks, Utility Payment
Kiosks, Internet Kiosks, Photo Kiosks, Multimedia Music Kiosks, Check-in and
Check- out Kiosks, Airline Kiosks and many other Customised Application
Kiosks.
For the Petroleum sector, AGS Infotech offers proven and reliable technology
from Wincor Nixdrof and Postec Products. These products include a Forecourt
Management System, Remote Site Management System, Data Entry Terminals, and
Automatic Vehicle Identification etc.
For the Postal department, AGS offers, Wincor Nixdorf’s, complete counter and
Self-Service solutions that automate transactions such as selling stamps,
selling cards, payment using coins with change return, payment systems using
magnetic cards or chip cards, receipts and many other public services such as
payment of pensions etc.
For the Lottery industry, the company offers, Wincor Nixdorf’s, state of
the art lottery dispensing systems from the Xion range.
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 :
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.47.71 |
|
UK Pound |
1 |
Rs.83.30 |
|
Euro |
1 |
Rs.65.12 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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, we have no basis upon which to
recommend credit dealings |
No Rating |
|