MIRA INFORM REPORT
1. Summary Information
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Country |
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||
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Company Name |
ANDRITZ HYDRO PRIVATE LIMITED |
Principal Name 1 |
Mr. Horst Heinrich Kurbel |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Shuban Krishan Kaul |
|
Registration # |
10 – 11430 |
||
|
Street Address |
D-17, Mpakvn Industrial Area, Mandideep – 462 046, Madhya Pradesh |
||
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Established Date |
28.11.1996 |
SIC Code |
-- |
|
Telephone# |
91-7480-400400 to 401 |
Business Style 1 |
Importer and Exporter of all parts of Electric Generator |
|
Fax # |
91-7480-403393 / 403394 |
Business Style 2 |
|
|
Homepage |
Product Name 1 |
Electric Generator |
|
|
# of employees |
Around 1000 |
Product Name 2 |
Parts of Electric Generator |
|
Paid up capital |
29102820 |
Product Name 3 |
Hydro Turbine and Other Equipments including Butterfly Valves |
|
Shareholders |
Foreign Holding - 100.00 |
Banking |
State Bank of |
|
Public Limited Corp. |
-- |
Business Period |
15 years |
|
IPO |
-- |
International Ins. |
-- |
|
Public |
-- |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation -Associates |
Country
– |
Company
Name |
Andritz Hydro GmbH |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
7,902,828,000 |
Current Liabilities |
7,565,917,000 |
|
Inventories |
385,251,000 |
Long-term Liabilities |
515,496,000 |
|
Fixed Assets |
749,263,000 |
Other Liabilities |
0 |
|
Deferred Assets |
8,348,000 |
Total Liabilities |
8,081,413,000 |
|
Invest& other Assets |
242,661,000 |
Retained Earnings |
915,910,000 |
|
|
|
Net Worth |
1,206,938,000 |
|
Total Assets |
9,288,351,000 |
Total Liab. & Equity |
9,288,351,000 |
|
Total Assets (Previous Year) |
4,274,920,000 |
|
|
|
P/L Statement as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
6,310,770,000 |
Net Profit |
413,190,000 |
|
Sales(Previous yr) |
3,024,370,000 |
Net Profit(Prev.yr) |
257,387,000 |
MIRA INFORM REPORT
|
Report Date : |
08.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ANDRITZ HYDRO PRIVATE LIMITED |
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Formerly Known as : |
VA TECH HYDRO INDIA PRIVATE LIMITED |
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Registered Office : |
D-17, Mpakvn Industrial Area, Mandideep – 462 046, Madhya Pradesh |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
28.11.1996 |
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Com. Reg. No.: |
10 – 11430 |
|
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|
CIN No.: [Company
Identification No.] |
U04010MP1996PTC011430 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BPLV00336A |
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|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business : |
Importer and Exporter of all parts of Electric Generator |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4827000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established subsidiary of The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
D-17, Mpakvn Industrial Area, Mandideep – 462 046, |
|
Tel. No.: |
91-7480-400400 to 401 |
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Fax No.: |
91-7480-403393 / 403394 |
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E-Mail : |
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Websites: |
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Corporate Office: |
Penzinger Strasse, 76 A – 1141 Wien, Postfach 5 |
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Tel No. : |
43-1-89100 |
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Fax No.: |
43-1-8946046 |
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Email ID: |
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Plant : |
49/5, |
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Tel No. : |
91-1275-262161 / 163 |
|
Fax No. : |
91-1275-262055 |
DIRECTORS
AS ON 01.06.2010
|
Name : |
Mr. Horst Heinrich Kurbel |
|
Designation : |
Managing Director |
|
Address : |
House No. 263, Sector – 21 C, |
|
Date of Birth/Age : |
26.04.1958 |
|
Date of Appointment : |
27.01.2009 |
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Name : |
Mr. Shuban Krishan Kaul |
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Designation : |
Managing Director |
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Address : |
House No. 263, Sector – 21 C, |
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Date of Birth/Age : |
01.03.1948 |
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Date of Appointment : |
26.03.2009 |
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Name : |
Mr. Keith Douglass |
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Designation : |
Director |
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Address : |
14, Nadir Colony, Shyamala Hills, |
|
Date of Appointment : |
27.09.2005 |
|
|
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|
Name : |
Mr. Didier Dechaud |
|
Designation : |
Additional Director |
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Address : |
216 A V |
|
Date of Birth/Age : |
19.10.1954 |
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Date of Appointment : |
14.05.2009 |
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|
Name : |
Mr. Mahadevan Anand |
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Designation : |
Director |
|
Address : |
C001 Yamuna Apartment Alaknanda, |
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Date of Birth/Age : |
04.11.1951 |
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Date of Appointment : |
04.03.1998 |
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|
Name : |
Mr. Manfred Woergoetter |
|
Designation : |
Director |
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Address : |
Simchengasse 6, |
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Date of Birth/Age : |
28.01.1953 |
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Date of Appointment : |
20.09.2006 |
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Date of Ceasing : |
26.08.2008 |
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Name : |
Mr. Harald Heber |
|
Designation : |
Director |
|
Address : |
Haydnweg 11, |
|
Date of Birth/Age : |
24.10.1961 |
|
Date of Appointment : |
12.02.2008 |
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|
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|
Name : |
Mr. Rudi Roesch |
|
Designation : |
Director |
|
Address : |
Max – Reger – Strasse 14, Berg, |
|
Date of Birth/Age : |
28.04.1951 |
|
Date of Appointment : |
16.03.2005 |
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Date of Ceasing : |
12.02.2008 |
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|
|
|
Name : |
Mr. Wolfgang Semper |
|
Designation : |
Director |
|
Address : |
Akeleistrasse 8, Kronstorf |
|
Date of Birth/Age : |
09.03.1958 |
|
Date of Appointment : |
27.09.2004 |
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Date of Ceasing : |
21.04.2008 |
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|
Name : |
Mr. Karl Scherer |
|
Designation : |
Director |
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Address : |
Weizberghof 1, Weiz |
|
Date of Birth/Age : |
25.07.1955 |
|
Date of Appointment : |
01.01.2000 |
KEY EXECUTIVES
|
Name : |
Mr. Puneet Khurana |
|
Designation : |
Secretary |
|
Address : |
B-4, 101 Paras City, E-3, |
|
Date of Birth/Age : |
09.03.1969 |
|
Date of Appointment : |
06.05.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.06.2010
|
Names of Shareholders |
No. of Shares |
|
Andritz Deutschland Beteiligungs GMBH, |
51 |
|
Andritz Hydro GMBH, |
18500049 |
|
Andritz |
50 |
|
Andritz Hydro SAS, France |
50 |
|
Andritz Hydro srl , |
50 |
|
Andritz Hydro S.L., |
50 |
|
Andritz Hydro GMBH, |
10602520 |
|
Total |
29102820 |
AS ON 01.06.2010
|
Equity Share
breakup (percentage of total equity) |
|
|
Category |
Percentage |
|
Foreign Holding (Foreign institutional investor(s),
Foreign companies(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas corporate bodies or others) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Exporter of all parts of Electric Generator |
|
|
|
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|
Products : |
ITC CODE |
Product Description |
|
8501 |
Electric
Generator |
|
|
8503 |
Parts of
Electric Generator |
|
|
|
841011 |
Hydro Turbine and
Other Equipments including Butterfly Valves |
PRODUCTION STATUS (31.12.2008)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
|
Electric Generators (upto 600 MW) |
26 |
26 |
|
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GENERAL INFORMATION
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No. of Employees : |
Around 1000 |
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Bankers : |
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Financial Institutions : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors 1: |
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Name : |
BSR and Associates Chartered Accountant |
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Address : |
Building No. 10, 8th Floor, Tower – B, |
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Tel No.: |
91-124-2549191 |
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Fax No.: |
91-124-2549101 |
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Auditors 2: |
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Name : |
Deepak Roy Partner Deloitte Haskins and Sells Chartered Accountant |
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Address : |
3rd Floor, MCT House, One Okhla Centre, Block A, Okhla
Institutional Area, New Delhi – 110 025, India |
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Pan No.: |
AABFD2095B |
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Ultimate Holding Company: |
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Holding Company : |
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Associates: |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs.10/- Each |
Rs.350.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
29102820 |
Equity Shares |
Rs.10/- Each |
Rs.291.028
Millions |
NOTE:
Of the above
15,499,999 equity shares are held by Andritz Hydro GmbH, Austria and 1 equity
share is held by Andritz Deutschland Beteiligungs GmbH, Germany. The ultimate holding
company is Andrtiz AG,
Pursuant to the
scheme of arrangement and amalgamation, 10,602,820 equity shares of Rs. 10 each
fully paid up have been issued to the shareholders of Transferor Companies.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
291.028 |
185.000 |
185.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
915.910 |
398.054 |
140.667 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1206.938 |
583.054 |
325.667 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
98.269 |
3.392 |
27.213 |
|
|
2] Unsecured Loans |
417.227 |
127.891 |
128.830 |
|
|
TOTAL BORROWING |
515.496 |
131.283 |
156.043 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
29.693 |
37.046 |
|
|
|
|
|
|
|
|
TOTAL |
1722.434 |
744.030 |
518.756 |
|
|
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|
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
749.263 |
295.927 |
269.812 |
|
|
Capital work-in-progress |
242.661 |
56.347 |
6.556 |
|
|
|
|
|
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INVESTMENT |
0.000 |
100.000 |
100.000 |
|
|
DEFERREX TAX ASSETS |
8.348 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
385.251 |
177.513 |
207.821 |
|
|
Sundry Debtors |
2031.788 |
564.546 |
748.063 |
|
|
Cash & Bank Balances |
649.916 |
944.416 |
824.341 |
|
|
Other Current Assets |
4543.866 |
1511.909 |
1030.522 |
|
|
Loans & Advances |
677.258 |
332.506 |
298.025 |
|
Total
Current Assets |
8288.079 |
3530.890 |
3108.772 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1567.492 |
543.315 |
835.846 |
|
|
Current Liabilities |
5705.719 |
2544.582 |
2045.729 |
|
|
Provisions |
292.706 |
151.237 |
84..809 |
|
Total
Current Liabilities |
7565.917 |
3239.134 |
2966.384 |
|
|
Net Current Assets |
722.162 |
291.756 |
142.388 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1722.434 |
744.030 |
518.756 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Turnover and Other Income |
6310.770 |
3024.370 |
1958.810 |
|
|
|
TOTAL (A) |
6310.770 |
3024.370 |
1958.810 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
5420.070 |
2567.484 |
1731.120 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
5420.070 |
2567.484 |
1731.120 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
890.700 |
456.886 |
227.690 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
154.820 |
26.550 |
47.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
735.880 |
430.336 |
179.820 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
76.340 |
38.270 |
33.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
659.540 |
392.066 |
146.110 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
246.350 |
(134.679) |
(38.420) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
413.190 |
257.387 |
99.190 |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1182.660 |
518.330 |
259.789 |
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1925.151 |
491.103 |
604.457 |
|
|
|
Capital Goods |
115.332 |
37.685 |
6.051 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.20 |
13.91 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
6.54 |
8.51 |
5.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.45 |
12.96 |
7.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.30 |
10.26 |
4.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.54 |
0.67 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.69 |
5.77 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.09 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND:
Andritz Hydro
Private Limited (Formerly known as "VA TECH Hydro India Private
Limited") ("the Company") is a subsidiary of Andritz Hydro
CHANGE OF NAME
During the year
name of the company was changed from VA TECH HYDRO India Private Limited to
ANDRITZ HYDRO Private Limited vide new certificate of Incorporation dated 8th
July,2009 issued by Registrar of Companies, Madhya Pradesh and Chattisgarh.
PERFORMANCE
The Company has
achieved a Gross Turnover (inclusive of other income) amounting to Rs. 6,310.77
million during the year ended 31" December, 2009 and earned a Net Surplus
of Rs. 413.19 million during the year ended 31" December, 2009.
The figures for
the year 2009 are not comparable with figures of last year. The figures for the
year 2009 are merged and consolidated pursuant to order passed on May 07, 2009
by the Hon'ble High Court of Madhya Pradesh, amalgamating VA TECH Escher Wyss
Flovel Private limited, with the Company.
The Company
achieved significant Order Intake during !he year resulting into order backlog
of Rs.1614.14 million as on 31.12.2009.
FUTURE PROSPECTS AND PLANS:
Power Sector
continues to be a key focus area to promote sustained industrial growth.
According to experts, there is strong correlation between GDP growth and power
demand, every 1% increase in GDP results in an about 0.9% increase in demand
for power. In spite of massive additions, there still continues a energy demand
gap of around 8-9% and peak demand gap of around 15%. This augurs well for the
growth of power sector. The share of hydro sector still continues to be around
24% of the total power which needs to be around 40% for optimal operation. This
coupled with the still untapped hydro potential and the steady growth of hydro
sector, the prospect for development of hydro sector in
In 2009, they
achieved a hit rate of 75% and a market share of 50% in Large Hydro segment
inspite of the tough competition.
It is expected
that around 12 LH orders (4000 MWl700 M Euro) would be finalized in 2010. Out
of this two projects are in the final stages. They are L1 in one project, Kashang (3 x 65 MW) and are in the race
for seven other projects, valued around 400 Million Euro.
The Company has received
following export orders:-
|
Sr. No. |
Name of Projects |
Segment |
Scope |
Value in Millions |
|
1. |
Dagachhu HPP |
LH |
Detailed
Designing of Turbine Inlet Valves, Supply of Distribution Pipes, Turbine Inlet
Valves and Hydromechanical Components for 2 x 62 MW unit |
325.320 |
|
2. |
|
LH |
1 x 65.5 MVA Hydro
Generator |
228.990 |
|
3. |
Theun Hinboun |
LH |
Supply of 28 no.
Poles and 2 polecoils |
55.470 |
|
4. |
NgoiPhat |
CH |
1 x 24 MW + 10% |
763.660 |
|
5. |
Tra Xom HPP |
CH |
Supply &
erection of Turbine, Auxiliaries, BOP Generators, Excitation panels 2 XlO MW |
264.990 |
|
6. |
Bilav |
CH |
Supply of 10Nos. Nozzles and Deflector |
14.420 |
|
7. |
Tala Hydropower Plant |
SR |
Supply of 4nos.
170MW Pelton Runner |
263.130 |
|
8. |
Tala Hydropower Plant |
SR |
Supply of MIV
sealing rings and Door sealing Rings |
10.980 |
|
9. |
Basochhu Hydropower Plant |
SR |
Manufacture,
Testing and supply of deflector and nozzle components |
2.270 |
|
10. |
Turbo Orders from GE |
GT |
10 to 20 MW |
58.400 |
|
|
|
|
|
|
|
|
Total |
|
|
1987.630 |
Form: 8
|
Corporate
identity number of the company |
U04010MP1996PTC011430 |
|
Name of the
company |
ANDRITZ HYDRO PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-17 Mpakvn Industrial Area Mandideep, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Axis Bank
Limited, 165 – A, 166, Star Arcade, M.P. Nagar, Zone – I, |
|
Nature of
instrument creating charge |
Deed of
Hypothecation of Current Assets (Stock and Book Debts). |
|
Date of
instrument Creating the charge |
17.12.2009 |
|
Amount secured by
the charge |
Rs. 1200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR - 3.25% (Presently
11.50%) p.a. payable at monthly interval. Terms of
Repayment On Demand Margin Cash Credit - The
DP will be calculated by applying the margin mentioned below:- Raw Material - 25% Stock-in-process - 25% Finished goods &
pkg. material - 25% Stores & spares -
25% Book debts (Max. cover
period:90 days)- 25% Bank Guarantee
(Inland/Foreign) - Nil (100% cash margin in case of disputed liabilities) Extent and
Operation of the charge 100% |
|
Short particulars
of the property charged |
Secured by all
the stock in trade both present & future consisting stock including raw
material, stock in process, finished goods, cash and other current assets
whatsoever, being movable properties now or at any time hereafter belonging
to the Borrower or at Borrower's disposal and now or at any time and from
time to time hereafter stored or be stored or brought into or upon or in
course of transit to Borrower's
factory or premises or at any other place whatsoever and wheresoever in
Borrower's possession or occupation or at any other premises or place. Pari passu first
charge on the entire current assets of the Company, both present & future
with the charge created in favour of:- 1. State Bank of 2. IDBI Bank
Limited 3. ICICI Bank
Limited |
FORM 8
|
Corporate
identity number of the company |
U04010MP1996PTC011430 |
|
Name of the
company |
ANDRITZ HYDRO PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-17, Mpakvn Industrial Area, Mandideep – 462 046, Madhya Pradesh |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property (not
being pledge) Floating charge Others |
|
Particular of
charge holder |
IDBI Bank
Limited, Email: mv.adam@idbi.co.in |
|
Nature of instrument
creating charge |
Deed of
Hypothecation dated 17th July, 2010 executed by the Company in favour of IDBI
Bank Ltd. thereby creating first Pari-passu charge on entire Current assets
of the Company as security for financial assistance of Rs. 1200 millions. |
|
Date of
instrument Creating the charge |
17.07.2010 |
|
Amount secured by
the charge |
Rs. 1200.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest (1) Cash Credit @BPLR
(Presently BPLR is 13.25% p.a.) payable monthly. (2) LC/Bank Guarantee -
Minimum 0.75% p.a. plus taxes. Terms of repayment Payable on Demand Margin Stocks-25%, Book
Debts-25% Extent and operation of the charge First Pari-passu charge
on entire Current Assets of the Company both present and future. Other (i) The above is
to be secure the working capital facilities provided by the bank as under:- Cash Credit/WCDL
- Rs. 100 millions, Letter of Credit (LC)/Bank Guarantee (BG) - Rs. 1100
millions (Loan Equivalent Risk (LER) - Rs. 20 millions is sub limit of credit
limit). (ii) Other terms
and conditions as per sanction letter no. IDBI/MCG/SL/AHPL/283A dated
15.05.2010 |
|
Short particulars
of the property charged (Including location of the property) |
First Pari-passu
charge on entire Current assets of the Company both present and future
including stock of raw materials, semi finished goods, consumable store, book
debts and such movables as may be agreed to by the lenders, both present and
future. The charge shall
operate on pari passu basis with State Bank of India, ICICI Bank Limited and
AXIS Bank Limited for their working capital facilities. |
FIXED ASSETS:
- Buildings
- Plant and Machinery
- Electrical Installations
- Furniture, Fixtures and Office Equipments
- Computers
- Tools
- Leased motor vehicle
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
|
|
1 |
Rs.71.97 |
|
Euro |
1 |
Rs.63.23 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.