MIRA
INFORM REPORT
|
Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HI-TECH SYSTEMS AND SERVICES LIMITED |
|
|
|
|
Registered Office : |
White House, 5th Floor, 119 Park Street, Kolkata – 700016,
West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
16.02.1989 |
|
|
|
|
Com. Reg. No.: |
21-46263 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74999WB1989PLC046263 |
|
|
|
|
IEC No.: |
0289008701 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer
Parts for Power Steel Plant Called (BDL)
and Supply Parts of Boiler |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 considerate good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Suranjan Bey |
|
Designation : |
Manager in Finance |
|
Date : |
12.09.2008 |
LOCATIONS
|
Registered Office : |
White House, 5th Floor, 119 Park Street, Kolkata – 700016,
West Bengal, India |
|
Tel. No.: |
91-33-22290045 |
|
Fax No.: |
91-33-22291264 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Warehouse : |
"Vaishnawi
Dham", Block-C, Diamond Harbour Road, Thakurpukur, Joka - 700104, West
Bengal, India |
|
Tel. No.: |
91-33-24670855 |
|
Area : |
3500 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory : |
82/1, Sarsuna Main Road, Kolkata – 7000061, India |
|
Tel No.: |
91-33-24939108 |
|
Fax No.: |
91-33-24939109 |
|
Email : |
|
|
|
|
|
Branch Office : |
Chennai :- F-19, Spencer Plaza, 769, Anna Salai, Chennai - 600 002, Tamilnadu Tel. 91-44-28526124 Fax. 91-44-28583903 E Mail : chennai@htssl.com Hyderabad :- 430, Al-Karim Trade Centre, Ranigunj, M. G. Road, Secunderabad - 500 003, Andhra Pradesh Tel. 91-40-26326424 Fax. 91-40-26326425 E Mail : hyderabad@htssl.com Mumbai :- G5, Janki, Sector-17, Vashi, Navi Mumbai - 400 705 Tel. No. 91-22-27894930 Fax No. 91-22-27890484 E Mail : mumbai@htssl.com New Delhi :- E-45 Naraina Vihar, 2nd Floor, New Delhi – 110 028 Tel. 91-11-25790774 Fax. 91-11-25790775 E-mail. delhi@htssl.com Vadodara :- 404, Signature I, Productivity Road, Vadodara - 390 007, Gujarat Tel. 91-265-22339734 Fax. 91-265-22332657 E Mail : vadodara@htssl.com |
DIRECTORS
|
Name : |
Mr.
Vikash Agrawal |
|
Designation : |
Managing
Director |
|
Address : |
9H, Embassy,
4, Shakespeare, Sarani, Kolkata – 700071, West Bengal, India |
|
Date of Birth/Age : |
11.09.1965 |
|
Date of Appointment : |
23.12.2006 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Dharam
Chand Agrawal |
|
Designation : |
Whole Time
Director |
|
Address : |
9H, Embassy, 4, Shakespeare, Sarani, Kolkata – 700071, West Bengal,
India |
|
Date of Birth/Age : |
13.09.1939 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
23.12.2006 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Deb
Priya Sen |
|
Designation : |
Director |
|
Address : |
Debjan, Flat – D – ¾, 334, NSC Bose Road, Kolkata – 700047, West
Bengal, India |
|
Date of Birth/Age : |
19.02.1940 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
24.06.1996 |
|
|
|
|
Name : |
Mr. J. Shah Chaudhury |
|
Designation : |
Director |
|
Address : |
Sadhana Apartment, Flat 102, 186 BB Chatterjee Road, Kasba, Kolkata – 700042,
West Bengal, India |
|
Date of Birth/Age : |
06.08.1944 |
|
Date of Appointment : |
21.09.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 07.07.2005)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Dharam
Chand Agrawal |
|
176749 |
|
Kanta Agarwal |
|
214747 |
|
Vikash Agarwal |
|
283075 |
|
Sangita Agarwal |
|
265812 |
|
Vivek Dinodia |
|
71981 |
|
Dharam
Chand Agrawal (HUF) |
|
220323 |
(As on 31.03.2007)
|
Category |
|
Percentage
|
|
|
|
|
|
Bodies Corporate |
|
1.72 |
|
Directors or relatives of directors |
|
94.50 |
|
Other top fifty shareholders |
|
3.78 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
Parts for Power Steel Plant Called (BDL) and Supply Parts of Boiler |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Products : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Brand Name : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Agencies Held : |
Ø Levelstate Systems Limited Bentley Hampshire GU10 5NJ, England Tel. 44 (0) 1420 22818 Fax. 44 (0) 1420 22824 E Mail : info@levelstate.com URL : http://www.levelstate.com Ø Narvik-Yarway B V Heerlsestraat 170 A, 4726 ST Heerle, The Netherlands Tel. 31 (0) 165 309220 Fax. 31 (0) 165 309239 E Mail : narviknetherlands@tyco-valves.com URL : http://www.narvik.nl Ø Holter Regelarmaturen GmbH & Company KG, Postfach 1460, D-33751 SchloB Holte-Stukenbrock, Germany Tel. No. 49 (0) 5207 / 8903-0 Fax No. 49 (0) 5207 / 88037 E Mail : mail@hora.de URL : http://www.hora.de Ø ABB Metering Systems Stonefield Works, Oulton Road, Stone, Staffordshire ST 15 ORS, England Tel. 44 (0) 1785 812111 Fax. 44 (0) 1785 818804 URL : http://www.abb.com
Ø ABB Messetechnik GmbH Otto-Hahn-Strasse 25, D-68623 Lampertheim, Germany Tel. 49 (0) 6206/933-0 Fax. 49 (0) 6206/933-100 E-mail. deket.info@de.abb.com URL: http://www.abb.de/ket.htm Ø SKIL Controls Limited Greenhey Place, Skelmersdale Lancs, WN8 9SB, England Tel. 44 (0) 1695 714600 Fax. 44 (0) 1695 714611 E Mail. info@skilcontrols.com URL: http://www.skilcontrols.com Ø Farnell Electronics Components Limited Canal Road, Leeds, LS12 2TU, England Tel. 44 (0) 113 263 6311 Fax. 44 (0) 113 263 3411 URL : http://www.farnell.com Ø Farnell In One, U. K. Ø Eurofilter (Air Filters) Limited, U. K. Ø Siemens Limited Ø Elster Metering Limited, U. K. Ø Elster Messtechnik GmbH, Germany Ø Megger Limited, U. K. Ø Vijai Electricals Limited, India Ø Logistics & Distribution Channel Partner of RPG Netcom Limited, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Exports : |
|
||||||||||||||||||
|
Countries : |
Gulf Countries |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Imports : |
|
||||||||||||||||||
|
Products : |
|
||||||||||||||||||
|
Countries : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Terms : |
|
||||||||||||||||||
|
Selling : |
Credit (30 days) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Purchasing : |
L/C or Credit (60 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers Retailers End Users OEM's Manufacturers Power Utilities
|
|
|
|
|
No. of Employees : |
100 |
|
|
|
|
Bankers : |
3, Park
Street, Kolkata - 700016, West Bengal, India Tel. 91-33-22296393 (The
company enjoys Banking Credit Facilities of Rs.15 millions from it’s banker).
International
Business Branch, 2 Wood Street, Kolkata - 700016, West Bengal Tel. No.
91-33-22801177 Credit Limited
- Rs.500.000 millions (Under Sanction) |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Financial Institution : |
Indian Renewable Energy Development Agency Limited Core 4A, East Court, New Delhi – 110003, India |
|
|
|
|
Auditors : |
|
|
Name : |
Ashok
Kumar Duggar and Associates Chartered
Accountants |
|
Address : |
507, Marshall House, 33/1, Netaji Subhas Road, Kolkata -
700001, West Bengal, India |
|
Tel No.: |
91-33-22206238 |
|
|
|
|
Parent Company : |
Hi-Tech Group Company |
|
|
|
|
Subsidiary
Company : |
·
Integra
Energy Management Limited U31200GJ2001PLC039170 404,
Signature - I, Productivity Road, Vadodara - 390007, Gujarat --Business
of design and development of energy conservation and measurement instruments. ·
Total
Plastic Solutions Private Limited, 4 &
5, Canal West Road, Kolkata- 700015, West Bengal --
Plastic tooling and injection moulding |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1301085 |
Equity Shares |
Rs.10/- each |
Rs.13.011
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
13.011 |
13.011 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
232.078 |
215.744 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
245.089 |
228.755 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
180.101 |
80.362 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
180.101 |
80.362 |
|
|
DEFERRED TAX LIABILITIES |
|
16.121 |
26.198 |
|
|
|
|
|
|
|
|
TOTAL |
|
441.311 |
335.315 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
186.275 |
243.550 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
58.525 |
80.120 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
139.107
|
19.415 |
|
|
Sundry Debtors |
|
108.195
|
37.578 |
|
|
Cash & Bank Balances |
|
11.160
|
7.983 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
120.325
|
51.332 |
|
Total
Current Assets |
|
378.787
|
116.308 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
164.227
|
102.677 |
|
|
Provisions |
|
18.049
|
1.986 |
|
Total
Current Liabilities |
|
182.276
|
104.663 |
|
|
Net Current Assets |
|
196.511
|
11.645 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
441.311 |
335.315 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.48 |
0.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.08 |
1.11 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Mr. Richard Harpum, President, ABB Metering Limited, UK
E-mail. richard.haprum@ga.abb.com
- Mr. Lutz Werner, Managing Director, Holter Regelarmaturen GmbH & Comapny, KG, Germany
E-mail. lwerner@hora.de
- Brett Wescott, Managing Director, Levelstate Systems Limited, U.K.
E-mail. info@levelstate.com
- Mr. Frans Jansens, General Manager, Narvik-Yarway B.V., The Netherlands
E-mail. fjansens@tyco-valves.com
- Alstom Projects (India) Limited, Durgapur
Tel. No. 91-343-2554743
Contact Person - Mr. B. Sengupta - General Manager (Procurement)
- WBPDCL- Bandel TPS
Tel. No. 91-33-26845202
Contact Person - Mr. R. N. Chakraborty - Sr. Manager (IPC)
- Farnell Electronics Components Limited, England, UK
- SKIL Controls Limited, England, UK
- ATL Metering Limited, UK
- CSC Limited, Kolkata
- West Bengal Power Development Corporation
- Suzlon Energy Limited
Website Details:
Profile:
Company was established in 1989 to
give shape to the mission of offering superior products and quality service to
Indian power and process industry. They have grown since then, but remain every
bit as devoted to their mission as we were then.
HI-TECH currently represents:
- Levelstate Systems Limited,
U.K. for Level Instruments
- Narvik-Yarway B.V., The Netherlands for Level Gauges
- Holter Regelarmaturen GmbH & Comoany KG, Germany (HORA) for
Control Valves and Desuperheaters
- Elster Metering Limited,
U.K. & Elster Messtechnik GmbH, Germany for Water Meters
- BFI Automation, Germany. For Flame Monitoring Systems.
- Farnell In One, U.K. for Industrial Equipments, Components and
Spares
- Tira Thai Company Limited, Thailand for Power, Distribution and
other Transformers for Industrial use.
- HKT Bearings Limited, South Korea for Split Type Roller
Bearings.
HI-TECH is also the:
Authorised repair &
calibration centre for Megger (erstwhile AVO International) U.K. & USA
products
HI-TECH has been a profitable company
since its inception. It has a well-established marketing and service network
across India in seven cities and is managed by a team of qualified engineers
and professionals. With its business strategy of Dynamic Value Addition
and Customer Intimacy HI-TECH is
poised to scale greater heights.
Megger Services Centre:
Megger is the worldwide manufacturer of test and measurement equipments covering electrical, power and telecommunication applications. More than 1000 different product lines are sold by Megger under various brand names : Megger®, Biddle®, Multi-Amp®, Ducter®, FosterTA and AVO® .
HI-TECH is Megger's only Authorised Service Partner since 2003 in India for
their entire range of products. The service center is located at Kolkata with
plans of opening in other major cities in the coming years.
Test
& Calibration Centre
HI-TECH maintains a laboratory for testing and calibration
of A.C. kwh meters. The test laboratory is dust, humidity & temperature
controlled and equipped with the latest precision class instruments and
automatic test benches. The laboratory is located at Kolkata.
Level
Instrument:
Levelstate
Systems Limited, U.K.
Levelestate Systems Limited is one of the manufacturer's of
Electronic Drum Level Indicators (EDLI) and Electronic Level Switches (ELS).
The guiding philosophy, reliability and user friendly design has made
Levelstate a successful business entity in the 21st century. The user base
covers all industry sectors and various countries across the globe.
HI-TECH is Levestate's sales & service partner in India since 1991. In
these years of operation HI-TECH has successfully positioned Levestate EDLI
& ELS in the power and process sector.
Narvik-Yarway
B.V., The Netherlands
Narvik Yarway B.V. is the market for their range of Direct
Level Gauges, Desuperheaters and Chemical Valves. The company was established
in 1987 as Narvik Valves and in May 1998 was acquired by Yarway Corporation of
Blue Bell USA. This has considerably strengthened the engineering capability of
the company and is now better placed to offer level gauging solution for steam
plants in power & process industries.
HI-TECH has been the sales and service representative of Narvik Level Gauges in
India since 1995.
Princo
Instruments, Inc.
Princo Instruments, Inc. of USA is a level control
manufacturer, manufacturing precision process instruments and controls since
1910 and the first and only company in the process control industry to provide
a 5-year warranty. The level control products are suitable for use on virtually
any material; liquids, slurries, interfaces, granules and bulk solids.
In the early 1970's Princo began manufacturing level controls. With level
transmitters, point level switches and multipoint controllers, utilizing RF
impedance, ultrasonic and resonance sensing technologies, Princo has the right
solution for the level application.
The Smart Sonic™ line of ultrasonic level transmitters utilizes a unique narrow
beam technology enabling its application rather than expensive Radar
technology.
Control
Valves:
Holter Regelarmaturen
GmbH & Company KG, Germany
Holter Regelarmaturen GmbH &
Company KG, founded in 1967, offers a whole range of products for use in
industry, power plants and process technology. Also known as HORA, the company
designs and manufactures automatic pump recirculation valves, control valves,
desuperheating systems (including combined PRDS), HP/LP turbine bypass systems
and electric & pneumatic actuators for use in power and process plants.
HI-TECH was appointed by HORA in 1995 to act as their sales & service
partner in India.
Metering:
Elster Metering
Limited, U.K.
(previously ABB
Metering Limited)
Elster
Messtechnik GmbH, Germany
(previously ABB Kent
Messtechnik GmbH)
HI-TECH
is associated with Elster for sales & services of Energy Meters in India
since 1996 and for Water Meters since 2002 for India, Bangladesh, Nepal and
Bhutan.
Elster is a market leader in water & electricity metering with some 3500
employees working in 33 production operations and sales offices in 32
countries.
Elster is highly committed to deliver the highest quality products, innovative
solutions and customer services to Electric, Gas & Water utilities
worldwide.
WATER TREATMENT EQUIPMENTS
Bran + Luebbe – innovation born out of experience
Bran + Luebbe designs and manufactures high - performance instruments
which are used for on -line and laboratory analysis in nearly every country;
they provide some of the most reliable and accurate measurement available for a
range of different parameters and sample types. Power Mon combines 75years of
experience in on-line analysis with the best modern components.
Bran + Luebbe Monitors have earned a reputation for long life, high
precision and easy operation and are purpose - built for continuous use in an
industrial environment. Some of the first chemical on -line analyzers in the
world for water analysis were a analyzers in the world for water analysis were
produced by Bran + Luebbe.
Since then applications for water preparation, waste water treatment,
boiler feed water and ultra-pure water have been continuously improved and the
field of analysis has extended into chemical processes.
The analyzers conform to the latest industrial standards and regulations
and can be delivered individually or incorporated into a complete measurement
and control system. More then 15000 installations world-wide demonstrate the
quality of the instruments and the technical support.
Decades of experience in waste water technology - the trademark of the
Bran + Luebbe group
Water Treatment
There are many different types of water and steam circulatory systems
Although they all have the common elements of feed water treatment,
steam generation and condensation, the drive towards higher efficiency
results in ever more complex systems.
Their
analyzers can measure the key performance parameters at every stage of the
process, form a simple pH measurement to silicate with a sub-ppb detection
limit.
Advantages of Bran + Luebbe Monitors
Low investment cost
Low operating costs
Innovative technology
Space-saving design
Integrated multi-stream measurement: up to 7 samples with one analyzer
Process water and waste water
Bran + Luebbe deliver custom-made installations for public and
industrial treatment plants.
Their
On-line Monitors can also cope with difficult waste water such as the effluent
from chemical, food and paper factories.
The compact process analyzers and the new on-line sensors combine to create an
integrated measuring and control system with with graphical display and easy
operation. The instruments are delivered in a waterproof housing with space for
reagents and accessories.
Industrial Equipment:
Farnell In One, U.K.
Farnell
is a part of the US$ 1.2 billion multinational Premier Farnell Group. It is one
of the world's largest multi-channel distributor of a wide range of electronic,
electrical & industrial products.
HI-TECH is Farnell's distributor for Eastern India since 2000.
Tira Thai Company
Limited, Thailand
Tira
Thai Company Limited is a renowned manufacturer of Power and Distribution
transformers. It has a prestigious clientele spread over Asia. Its modern, high-capacity
plant manufactures a comprehensive range of Power transformers upto 200MVA,
230kV and Distribution transformers upto 2500kVA. Tira Thai also manufactures
Furnace & Rectifier transformers and Automatic Voltage Regulators. Its
transformers have successfully passed Type Test at KEMA in accordance with IEC
and ANSI standards.
HI-TECH is Tira Thai's sales and service associate in India since 2003.
Flame
Monitoring System
The BFI Automation, a German company founded in 1973.Flame
monitoring and evaluation including temperature measurement systems are only
some of the many unique products manufactured by BFI Automation. The products
are the result of many years’ collaboration with major power utilities, leading
industrial enterprises and research organization through out the world. As a
result, BFI Automation has gained an international reputation of innovation,
technical expertise and quality. The BFI Automation design team is capable of
offering engineering service for flame monitoring and burner management systems
for existing Fertilizers plants, power plants, refineries and chemical
industries worldwide.
SPLIT TYPE ROLLER BEARINGS
HKT Bearings Limited
HKT
Bearings Limited is one of the most reputed manufacturers worldwide for Split
Type Roller Bearings. It was founded in 1988 at Incheon, South Korea.
It has state-of-the-art technology with computerized special purpose machines
to cater to the needs of manufacturing quality bearings. It has a wide range of
prestigious clientele spread all over the world.
Hi-Tech
is the business and marketing partner in India for HKT from the year 2005.
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.45.77 |
|
UK Pound |
1 |
Rs.80.67 |
|
Euro |
1 |
Rs.64.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|