1. Summary Information
|
Reference
# |
135-288627-01-020(20110405850) |
Country |
|
|
Company Name |
TECHNOFAB
ENGINEERING LIMITED |
Principal Name 1 |
Mr. Avinash Chander Gupta |
|
Status |
Good |
Principal Name 2 |
Mr. Arjun Gupta |
|
Our Reference # |
138242 |
Registration # |
-- |
|
Street Address |
507, Eros
Apartment, |
||
|
Established Date |
20.07.1971 |
SIC Code |
-- |
|
Telephone# |
91-11-26415961 |
Business Style 1 |
Company is Engaged in the Business of Providing Engineering
Procurement |
|
Fax # |
91-11-26221521 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
75,000,000 |
Product Name 3 |
-- |
|
Shareholders |
Avinash Chander Gupta - 1753948 |
Banking |
Bank of |
|
Public Limited Corp. |
-- |
Business Period |
39 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ba
(51) |
|
Related
Company |
|||
|
Relation
Subsidiaries |
Country
|
Company
Name |
Rivu Infrastructural Developers Private Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,086,022,000 |
Current Liabilities |
483,232,000 |
|
Inventories |
34,502,000 |
Long-term Liabilities |
194,083,000
|
|
Fixed Assets |
54,812,000 |
Other Liabilities |
1,751,000 |
|
Deferred Assets |
-- |
Total Liabilities |
679,066,000 |
|
Invest& other Assets |
3,501,000 |
Retained Earnings |
424,771,000 |
|
|
|
Net Worth |
499,771,000 |
|
Total Assets |
1,178,837,000 |
Total Liab. & Equity |
1,178,837,000 |
|
Total Assets (Previous Year) |
971,089,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
2,003,702,000 |
Net Profit |
190,901,000 |
|
Sales(Previous yr) |
1,493,057,000 |
Net Profit(Prev.yr) |
116,868,000 |
MIRA INFORM REPORT
|
Report Date : |
18.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOFAB ENGINEERING LIMITED |
|
|
|
|
Registered Office : |
507, Eros Apartment, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
20.07.1971 |
|
|
|
|
Com. Reg. No.: |
55-5712 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74210DL1971PLC005712 |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
Stock Exchange |
|
|
|
|
Line of Business : |
Company is Engaged in the Business of Providing Engineering
Procurement and Construction Services, Executing a Wide Range of Balance-of-plant
and Electro-mechanical Projects on a Complete Turnkey Basis. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1999084 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established company having fine track. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
and as per commitments. The company can be considered normal 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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DENIED BY
|
Name : |
Mr. S. N. Tandon |
|
Designation : |
Accounts Department |
LOCATIONS
|
Registered Office : |
507, Eros Apartment, |
|
Tel. No.: |
91-11-26415961 |
|
Fax No.: |
91-11-26221521 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot 5, Sector 27-C, Mathura Road, Faridabad-121003, |
|
Tel. No.: |
91-129-2270202 |
|
Fax No.: |
91-129-2270201 |
|
|
|
|
Overseas Office : |
Located at: |
DIRECTORS
AS ON 22.05.2010
|
Name : |
Mr. Avinash Chander Gupta |
|
Designation : |
Chairman and Managing Director |
|
Address : |
S-481, GK-II, New Delhi-110048, |
|
Date of Birth/Age : |
26.10.1940 |
|
Date of Appointment : |
06.10.2002 |
|
|
|
|
Name : |
Mr. Arjun Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
S-481, GK-II, New Delhi-110048, |
|
Date of Birth/Age : |
07.08.1970 |
|
Date of Appointment : |
30.09.2004 |
|
|
|
|
Name : |
Mr. Nakul Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
S-481, GK-II, New Delhi-110048, |
|
Date of Birth/Age : |
30.08.1971 |
|
Date of Appointment : |
01.12.1999 |
|
|
|
|
Name : |
Mr. Nitish Kumar Sen Gupta |
|
Designation : |
Director |
|
Address : |
135, Pocket 40, |
|
Date of Birth/Age : |
23.09.1934 |
|
Date of Appointment : |
06.06.2008 |
|
|
|
|
Name : |
Mr. Ramkrishna Telang |
|
Designation : |
Director |
|
Address : |
502, Vidya Apartment, 168, Veer Savarkar Marg, Mahim, Mumbai-400016, |
|
Date of Birth/Age : |
29.11.1946 |
|
Date of Appointment : |
06.06.2008 |
|
|
|
|
Name : |
Mr. Pawan Chopra |
|
Designation : |
Director |
|
Address : |
C-1/39, |
|
Date of Birth/Age : |
22.05.1944 |
|
Date of Appointment : |
08.06.2009 |
|
|
|
|
Name : |
Mr. Viresh Shankar Mathur |
|
Designation : |
Director |
|
Address : |
B-70, Sector-14, Noida-201301, |
|
Date of Birth/Age : |
09.03.1946 |
|
Date of Appointment : |
08.06.2009 |
|
|
|
|
Name : |
Mr. Arun Mitter |
|
Designation : |
Director |
|
Address : |
C-29, |
|
Date of Birth/Age : |
27.11.1962 |
|
Date of Appointment : |
08.06.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Paresh Kumar Singh |
|
Designation : |
Secretary |
|
Address : |
SRA-14C, Shipra |
|
Date of Birth/Age : |
25.04.1972 |
|
Date of Appointment : |
01.01.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.05.2010
|
Names of Shareholders |
|
No. of Shares |
|
Avinash Chander Gupta |
|
1753948 |
|
Meera Gupta |
|
1034108 |
|
Arjun Gupta |
|
432872 |
|
Nakul Gupta |
|
431072 |
|
Gunjan Gupta |
|
11500 |
|
Sucheta Sarvadaman Nakul |
|
11500 |
|
Ras Projects Limited, |
|
1212944 |
|
Brij Real Estate and Property Private Limited, |
|
1437056 |
|
Gammon India Limited, |
|
675000 |
|
Associated Transrail Structures Limited, |
|
500000 |
|
Total |
|
7500000 |
AS ON 22.05.2010
|
Category |
|
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
|
15.83 |
|
Bodies corporate |
|
17.67 |
|
Directors or relatives of directors |
|
49.00 |
|
Other top fifty shareholders |
|
17.50 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is Engaged in the Business of Providing Engineering
Procurement and Construction Services, Executing a Wide Range of Balance-of-plant
and Electro-mechanical Projects on a Complete Turnkey Basis. |
GENERAL INFORMATION
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajesh Suresh Jain and Associates Chartered Accountant |
|
Address : |
E-3/38, Sector-7, Rohini, |
|
Tel. No.: |
91-11-65819990 |
|
Mobile No.: |
91-9811020899 |
|
|
|
|
Subsidiaries: |
Rivu Infrastructural Developers Private Limited CIN No: U32109WB2005PTC101800 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Share |
Rs.10/- Each |
Rs.150.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Share |
Rs.10/- Each |
Rs.75.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
75.000 |
75.000 |
75.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
424.771 |
246.988 |
138.894 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
499.771 |
321.988 |
213.894 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
151.735 |
118.333 |
42.149 |
|
|
2] Unsecured Loans |
42.348 |
43.785 |
0.000 |
|
|
TOTAL BORROWING |
194.083 |
162.118 |
42.149 |
|
|
DEFERRED TAX LIABILITIES |
1.751 |
0.262 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
695.605 |
484.368 |
256.043 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
54.812 |
41.593 |
21.109 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.501 |
2.000 |
7.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.566 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.502
|
45.033
|
43.008 |
|
|
Sundry Debtors |
563.557
|
318.935
|
275.988 |
|
|
Cash & Bank Balances |
110.202
|
241.057
|
63.182 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
412.263
|
322.471
|
153.374 |
|
Total
Current Assets |
1120.524
|
927.496
|
535.552 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
222.387
|
122.341
|
77.860 |
|
|
Other Current Liabilities |
144.172
|
289.641
|
195.431 |
|
|
Provisions |
116.673
|
74.739
|
34.893 |
|
Total
Current Liabilities |
483.232
|
486.721
|
308.184 |
|
|
Net Current Assets |
637.292
|
440.775
|
227.368 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
695.605 |
484.368 |
256.043 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2003.702 |
1493.057 |
809.947 |
|
|
|
Other Income |
1.119 |
2.610 |
8.359 |
|
|
|
TOTAL (A) |
2004.821 |
1495.667 |
818.306 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Expenditure on Contracts |
1540.325 |
1177.229 |
664.975 |
|
|
|
Administrative and Other Expenses |
126.823 |
99.894 |
53.838 |
|
|
|
TOTAL (B) |
1667.148 |
1277.123 |
718.813 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
337.673 |
218.544 |
97.492 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31.663 |
28.228 |
14.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
306.010 |
190.316 |
82.696 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.529 |
10.187 |
2.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
292.481 |
180.129 |
80.097 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
101.580 |
63.261 |
27.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
190.901 |
116.868 |
53.070 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
105.763 |
47.669 |
18.986 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
11.250 |
7.500 |
3.750 |
|
|
|
Tax on Dividend |
1.868 |
1.275 |
0.637 |
|
|
|
Transfer to General Reserve |
150.000 |
50.000 |
20.000 |
|
|
BALANCE CARRIED
TO THE B/S |
133.546 |
105.763 |
47.669 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
455.089 |
344.249 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.45 |
15.58 |
7.24 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
|
7.81 |
6.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
12.06 |
9.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
18.58 |
14.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.56 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.02 |
1.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.91 |
1.74 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF OPERATIONS
Financial Highlights
The financial year 2009-10 has been a good year in terms of growth achieved by the Company. The company achieved a gross operating turnover of Rs.2003.700 Millions for the year ended 31st March. 2010 as against Rs.1493.060 Millions for the previous financial year registering an incremental turnover of Rs.510.640 Millions and recording a growth rate of 34% over the previous year. The EBIDTA at Rs.337.680 Millions is 16.85% of the Gross Turnover for the year as against 14.64% for the previous financial year. This rate of gross profit compares well with those of peers in the sector in which the Company operates. The profit after tax in the period under review increased by 62.73% to Rs.190.900 Millions as compared to Rs.117.310 Millions in the previous year.
Sectoral Overview
The Power Sector continued, as before, to be the most important line of their business operations, contributing around 52% of the operating revenue of the Company. What was significant was the increasing contribution of nuclear power to this sector, which at 27% is more than that of conventional thermal power. There major customers in the power sector includes LANCO and Gammon in the private sector and NTPC, BHEL, GEB, In the Public Sector apart from Nuclear Power Corporation of India.
Their turnover from the water and waste water infrastructure treatment section during the year, contributed 21% of our aggregate turnover.
The Electrical Sribstation and Distribution business for which a separate line of business was recently established contributed revenue for the first time, being 8.4% of the years turnover.
ECONOMIC AND BUSINESS
OUTLOOK
The year has been one of steady grovdh and increased confidence as the effects of the international financial crisis began to wear out and global recovery commenced. The long term scenario in their country in the areas in which they operate is encouraging. The country's developmental needs in the power, urban development and related infrastructure sectors are immense. Their government’s focus on development in these areas is ensuring that our addressable market will remain robust. Political stability and steady albeit slow structural reforms should hopefully ensure the favourable climate and liquidity necessary for major investments in these areas.
Even in our overseas markets a similar perspective prevails. Focused as we are largely on developing countries, the basic demand on infrastructure and urban development remains very strong. To a large extent the projects we aim at are not profit oriented or privately financed being more likely to be the subject of developmental finance, whether governmental or from multilateral development banks bodies. Very recently the Euro zone has faced problems which has created uncertainty and lowering of business confidence. While this does not in any way directly influence the Company's operations, it does have indirect adverse impact due to uncertainty in the financial markets and lack of stability in exchange rates.
Nevertheless, the company believes that me rail business scenario continues to be encouraging and, along with the strategic initiatives undertaken, be sufficient to sustain a robust growth, in the medium term. The Company expects, barring unforeseen circumstances, to be able to sustain a 25% or better growth rate.
Bankers Charges Report as per Registry
|
Corporate
identity number of the company |
U74210DL1971PLC005712 |
|
Name of the
company |
TECHNOFAB
ENGINEERING LIMITED |
|
Address of the
registered office or of the principal place of business in |
507, Eros Apartment, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10165622 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of India
(Lead Bank), New Delhi Corporate Banking Branch, 37, Shaheed Bhagat Singh
Marg, Connaught Place, New Delhi - 110001, Delhi, India Email ID: |
|
Nature of
instrument creating charge |
No instrument.
Oral Assent for Extension of Equitable Mortgage |
|
Date of
instrument Creating the charge |
11.05.2010 |
|
Amount secured by
the charge |
Rs.3250.000 millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge 100 Percent Others The said charge
is hypothecated to secure various fund based and non fund based credit facilities
aggregating to Rs.3250.000 millions granted by Bank of India Consortium to
the Company The securities to
be shared on pari passu basis by BOI consortium comprising of Bank of India
as the consortium leader and State Bank of Mysore, ICICI Bank Limited, and
Axis Bank Limited as the member Banks. |
|
Short particular
of the property or asset(s) charged |
Equitable
mortgage by way of deposit of title deeds in respect of immovable property of
the company situated at Plot No. 5, Sector-27C, Faridabad-121003, Haryana
together with all building |
|
Corporate
identity number of the company |
U74210DL1971PLC005712 |
|
Name of the
company |
TECHNOFAB
ENGINEERING LIMITED |
|
Address of the
registered office or of the principal place of business in |
507, Eros Apartment, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
TATA CAPITAL
LIMITED |
|
Nature of instrument
creating charge |
MASTER LOAN CUM
HYPOTHECATION CUM GUARANTEE AGREEMENT DATED 31.01.2011. |
|
Date of
instrument Creating the charge |
31/01/2011 |
|
Amount secured by
the charge |
Rs.11.748
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As mutually
agreed between Tata Capital Limited and the Borrower from time to time Terms of
Repayment Agreement
No.7000101208: Principal amount to be repaid in 35 monthly installments of
Rs. 35,600/- Agreement
No.7000101209: Principal amount to be repaid in 35 monthly installments of
Rs. 35,600/- Agreement
No.7000101212: Principal amount to be repaid in 35 monthly installments of
Rs. 35,600/- Agreement
No.7000101213: Principal amount to be repaid in 35 monthly installments of
Rs. 35,600/- Agreement
No.101216 & 101217: Principal amount to be repaid in 35 monthly
installments of Rs. 2,42,700/- Extent and
Operation of the charge The loan together
with all interest,cost,fees and expenses and all monies payable in terms of
loan agreement is secured by hypothecation of the assets as specified in
Annexure Nos 1 to 6 attached to Master Loan cum Hypothecation cum Guarantee
Agreement Others |
|
Short particulars
of the property charged |
Agreement No
7000101208 : Escorts Hydraulic 14 Ton Mobile Crane Agreement No 7000101209 :
Escorts Hydraulic 14 Ton Mobile Crane Agreement No 7000101212 : Escorts
Hydraulic 14 Ton Mobile Crane Agreement No 7000101213 : Escorts Hydraulic 14
Ton Mobile Crane Agreement No 7000101216: Hydraulic Excavator Model No Ex
200i Agreement No 7000101217: Hydraulic Excavator Model No Ex 200i |
FIXED ASSETS
- Factory
- Plant and machinery
- Furniture and
Fixtures
- Office
Equipment
- Vehicles
- Computers
- Generator
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 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.44.52 |
|
|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.64.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
51 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.