1. Summary Information
|
|
|
Country |
India |
|
Company Name |
MOSER BAER SOLAR
LIMITED |
Principal Name 1 |
Mr. Deepak Puri |
|
Status |
Moderate |
Principal Name 2 |
Mr. Ratul Puri |
|
|
|
Registration # |
55-160162 |
|
Street Address |
43B, Okhla
Industrial Estate, New Delhi – 110020, Delhi, India |
||
|
Established Date |
06.03.2007 |
SIC Code |
-- |
|
Telephone# |
91-11-40594444 /
26911570/74 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-41635211 /
26911860 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Thin Film Solar Module |
|
|
# of employees |
--- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
9594504000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 100.00% |
Banking |
Punjab National Bank |
|
Public Limited Corp. |
NO |
Business Period |
4 years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary |
USA |
Moser Baer Photovoltaic Incorporation |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,218,754,000 |
Current Liabilities |
979,353,000 |
|
Inventories |
834,559,000 |
Long-term Liabilities |
7,948,730,000
|
|
Fixed Assets |
6,494,644,000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
8,928,083,000 |
|
Invest& other Assets |
7,719,803,000 |
Retained Earnings |
000 |
|
|
|
Net Worth |
8,339,677,000 |
|
Total Assets |
17,267,760,000 |
Total Liab. & Equity |
17,267,760,000 |
|
Total Assets (Previous Year) |
12,051,550,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
359,914,000 |
Net Profit |
(1,052,912,000) |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
(53,562,000) |
MIRA INFORM
REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
MOSER BAER SOLAR LIMITED (w.e.f. 29.06.2010) |
|
|
|
|
Formerly Known
As : |
PV TECHNOLOGIES INDIA LIMITED |
|
|
|
|
Registered
Office : |
43-B, Okhla Industrial Estate, New Delhi – 110020, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
06.03.2007 |
|
|
|
|
Com. Reg. No.: |
55-160162 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9594.504 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL2007PTC160162 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Thin Film Solar Module |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 33400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
to be huge accumulated losses recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings with some caution.
|
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 |
LOCATIONS
|
Registered Office / Corporate Office : |
43-B, Okhla Industrial Estate, New Delhi – 110020, Delhi, India |
|
Tel. No.: |
91-11-40594444 / 26911570/74 |
|
Fax No.: |
91-11-41635211 / 26911860 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant Office : |
66B, SEZ Udyog Vihar, Greater Noida, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4658000 |
|
|
|
|
Branches : |
Located At : ·
New Delhi ·
Pune ·
Bangalore ·
Japan ·
USA |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Deepak Puri |
|
Designation : |
Director |
|
Address : |
A-187, New Frinds Colony, New Delhi – 110065, Delhi, India |
|
Date of Birth/Age : |
28.07.1941 |
|
Date of Appointment : |
29.03.2007 |
|
|
|
|
Name : |
Mr. Ratul Puri |
|
Designation : |
Director |
|
Address : |
A-187, New Frinds Colony, New Delhi – 110065, Delhi, India |
|
Date of Birth/Age : |
19.07.1972 |
|
Date of Appointment : |
29.03.2007 |
|
|
|
|
Name : |
Mrs. Nita Puri |
|
Designation : |
Director |
|
Address : |
A-187, New Frinds Colony, New Delhi – 110065, Delhi, India |
|
Date of Birth/Age : |
06.10.1945 |
|
Date of Appointment : |
29.03.2007 |
|
|
|
|
Name : |
Mr. Bernard Hermann Gallus |
|
Designation : |
Director |
|
Address : |
C/Del Rio Escalona, 9 E-03739, Javea Alicante, Spain |
|
Date of Birth/Age : |
05.05.1933 |
|
Date of Appointment : |
28.10.2009 |
|
|
|
|
Name : |
Mr. Amitava Banerjee |
|
Designation : |
Secretary |
|
Address : |
F-43, Katwaria Sarai, Flat No.06, hauzkhas, New Delhi – 110016, Delhi,
India |
|
Date of Birth/Age : |
26.09.1977 |
|
Date of Appointment : |
01.02.2010 |
|
|
|
|
Name : |
Mrs. Jyoti Sawaroop Arora |
|
Designation : |
Secretary |
|
Address : |
460/1, ward No.12, Jacobpura, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
18.06.1968 |
|
Date of Appointment : |
20.11.2008 |
|
Date of Ceasing : |
31.10.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
MB Solar Holdings Limited |
|
552000398 |
|
Saurabh Mathur |
|
1 |
|
P.N. Pant |
|
1 |
|
Shweta Chopra |
|
1 |
|
Aditya Singh Yadav |
|
1 |
|
Pawan Saini |
|
1 |
|
Ruche Sharm |
|
1 |
|
|
|
|
|
Total |
|
552000404 |
|
Names of Shareholders (Preference Shares – Series A) |
|
No. of Shares |
|
IDFC Trustee Company Limited |
|
157160000 |
|
Infrastructure Development Finance Company Limited |
|
39290000 |
|
|
|
|
|
Total |
|
196450000 |
|
|
|
|
|
Names of Shareholders (Preference Shares – Series B) |
|
No. of Shares |
|
|
|
|
|
IDFC Trustee Company Limited |
|
43000000 |
|
Infrastructure Development Finance Company Limited |
|
22000000 |
|
|
|
|
|
Total |
|
65000000 |
|
|
|
|
|
Names of Shareholders (Preference Shares – Series C) |
|
No. of Shares |
|
|
|
|
|
Moser Baer India Limited |
|
146000000 |
|
|
|
|
|
Total |
|
146000000 |
AS ON 30.09.2010
|
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 |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Thin Film Solar Module |
||||
|
|
|
||||
|
Product : |
|
GENERAL INFORMATION
|
Bankers : |
Punjab National
Bank, Large Corporate Branch, Tolstoy House, Tolstoy Marg, New Delhi –
110001, Delhi, India, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
Building 8, 7th and 8th Floor, Tower, Tower –B
DLF Cyber City, Gurgaon – 122002, Haryana, India |
|
|
|
|
Subsidiaries Companies : |
·
Moser Baer Photo Voltaic Limited ·
Perafly Limited, Cyprus ·
Nicofly Limited, Cyprus ·
Perasoft Limited, Cyprus ·
Dalecrest Limited, Cyprus ·
Crownglobe Limited, Cyprus ·
Admire Energy Solutions Private Limited ·
Arise Solar Energy Private Limited ·
Competent Solar Energy Private Limited ·
Pride Solar Systems Private Limited ·
Value Solar Energy Private Limited ·
Moser Baer Photovoltaic Incorporation, USA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
572000450 |
Equity Shares |
Rs.10/- each |
Rs. 5720.004 Millions |
|
|
|
|
|
|
451450000 |
Equity Shares |
Rs.10/- each |
Rs. 4514.500
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 10234.504
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
552000404 |
Equity Shares |
Rs.10/- each |
Rs. 5520.004
Millions |
|
|
|
|
|
|
196450000 |
Non Cumulative, Fully Convertible Dividend bearing Class A Preference
Shares fully paid in Cash |
Rs. 10/-
each |
Rs. 1964.500
Millions |
|
|
|
|
|
|
65000000 |
Non Cumulative Fully Convertible Rs. 1
Dividend Bearing Class B Preference Share fully paid in Cash |
Rs. 10/-
each |
Rs. 650.000
millions |
|
|
|
|
|
|
146000000 |
Non Cumulative Redeemable Rs. 1 Dividend
Bearing Class C Preference Share fully paid in Cash |
Rs. 10/-
each |
Rs. 1460.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 9594.504 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 |
9594.504 |
7989.667 |
3742.425 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1254.827) |
(201.915) |
(156.822) |
|
|
NETWORTH |
8339.677 |
7787.752 |
3585.603 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2886.032 |
3067.081 |
1191.173 |
|
|
2] Unsecured Loans |
5062.698 |
499.854 |
31.104 |
|
|
TOTAL BORROWING |
7948.730 |
3566.935 |
1222.277 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16288.407 |
11354.687 |
4807.880 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6494.644 |
539.483 |
4.791 |
|
|
Capital work-in-progress |
180.811 |
3311.748 |
2764.905 |
|
|
|
|
|
|
|
|
INVESTMENT |
7538.992 |
3608.891 |
2864.482 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
834.559
|
419.524 |
2.631 |
|
|
Sundry Debtors |
160.712
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
236.541
|
1571.104 |
369.853 |
|
|
Other Current Assets |
11.927
|
109.166 |
4.365 |
|
|
Loans & Advances |
1809.574
|
2491.634 |
16.376 |
|
Total
Current Assets |
3053.313
|
4591.428 |
393.225 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
971.934
|
693.242 |
1218.777 |
|
|
Provisions |
7.419
|
3.621 |
0.746 |
|
Total
Current Liabilities |
979.353
|
696.863 |
1219.523 |
|
|
Net Current Assets |
2073.960
|
3894.565 |
(826.298) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16288.407 |
11354.687 |
4807.880 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
359.914 |
0.000 |
0.000 |
|
|
|
Other Income |
332.533 |
476.075 |
42.586 |
|
|
|
TOTAL (A) |
692.447 |
476.075 |
42.586 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material and Components Consumed |
746.880 |
208.582 |
0.000 |
|
|
|
Packing Material Consumed |
33.123 |
0.000 |
0.000 |
|
|
|
Stores, Spares and Tools Consumed |
41.288 |
0.000 |
0.000 |
|
|
|
Personnel Expenses |
213.996 |
156.050 |
14.876 |
|
|
|
Administration and Other Expenses |
592.356 |
269.367 |
162.177 |
|
|
|
Increase / Decrease in Stock |
(406.022) |
(208.582) |
0.000 |
|
|
|
TOTAL (B) |
1221.621 |
425.417 |
177.053 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(529.174) |
50.658 |
(134.467) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
232.852 |
80.876 |
22.044 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(762.026) |
(30.218) |
(156.511) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
291.052 |
22.497 |
0.158 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(1053.078) |
(52.715) |
(156.669) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.166 |
0.847 |
0.153 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-I) (J) |
(1052.912) |
(53.562) |
(156.822) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
201.915 |
156.822 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1254.827 |
201.915 |
156.822 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
159.625 |
1.800 |
|
|
|
Stores & Spares |
NA |
122.025 |
0.280 |
|
|
|
Capital Goods |
NA |
499.230 |
2689.269 |
|
|
TOTAL IMPORTS |
NA
|
780.880 |
2691.349 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.95) |
(0.15) |
(291.29) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(152.05)
|
(11.25) |
(368.24) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(292.59)
|
-- |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.02)
|
(1.02) |
(39.36) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12)
|
(0.00) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.07
|
0.54 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.11
|
6.58 |
0.32 |
LOCAL AGENCY FURTHER INFORMATION
NOTE :
The Registered office Address of The company has been shifted from
C-484, Sector 19, Rohini, Delhi – 110085, India to Present address w.e.f. 29.03.2007.
MARKET ENVIRONMENT
AND OUTLOOK
While the financial year 2009-10 ended with a rebound of the Solar
Industry and the market, the year had started out as a challenging one for the
global solar industry, given the rolling effect of the global economic
meltdown, the consequent credit crunch and an unexpected cap in the incentive
program by the Spanish Government. Added to this was the huge capacity build-up
of photovoltaic capacities in Asia and the huge consequent demand-supply
mismatch and the downturn of the previous year continued till September 2009.
However, after a dull first half, growth rebounded in the second half of
the year with improving credit conditions. All major markets remained firm,
with the strongest growth evident in Germany, Italy and Japan. Moreover new
markets like USA, Czech Republic, Belgium, France and India are now emerging
with attractive incentive programms and increasing the size of the overall
market pie. The December rush for installations in Germany resulted in an upward
revision in the estimated annual installations for the industry at 7.2 GW for
2009 as compared to 6.3 GW in 2008 as per European Photovoltaic Industry
Association. This added up to cumulative installations of 22GW worldwide till
2009 end. However, selling prices remained a challenge during the year.
As global economies take action to mitigate climate change, the global
energy infrastructure is set to undergo a fundamental reshaping to create a
prominent role for the renewable energy sector. Renewable electricity
represented 2.5% of worldwide electricity generation in 2008 and could
represent more than 20% of worldwide electricity generation, as policies to
promote renewable energy are implemented globally over the next 20 years as per
an independent analyst report.
AN OVERVIEW OF
DEVELOPMENTS:
While this happens to be the first commercial production year for the
company, significant traction was seen to establish the Company as a
cutting-edge technology player in Amorphous-Silicon Thin Film module. It took
us considerably longer than anticipated to stabilize the line and understand
the technical parameters and acquire the skills necessary to run such a complex
and fully automated line. However, by the onset of the winter months, they were
able to run the line efficiently with substantial improvement in all technical
metrics. In the last quarter of the year, the Company switched from producing
quarter-panels to full-panels (5.72 square meters) which will give the company
a unique selling proposition in the market in the coming years since it reduces
the customer’s real-estate and balance-of-systems costs and enable the company
to compete more effectively with Crystalline Silicon technology which has
become more cost effective due to the huge fall in silicon prices. On the
efficiency improvement front too, our process team has effectively achieved
world’s highest single junction Amorphous- Silicon thin-film module efficiency
of 7.3% on the existing production lines with process re-engineering in the laboratory
and we are slowly ramping it up on commercial scale.
This is a significant achievement as this has been done without any
capital expenditure and completely in-house, demonstrating the Company’s
technological prowess. Once fully commercialized, this would also take up their
capacity to almost 50 MW pa from the present 40 MW pa at the Greater Noida
Plant. In view of the market expansion, on the distribution and marketing side,
the Company has taken a decision to go direct to the customers in order to develop
the feel of the market and to help serve customers better.
SUBSIDIARY
COMPANIES
In accordance with the exemption received Section 212(8) of the
Companies Act 1956 from the Ministry of Corporate Affairs, Government of India
vide order no. 47/375/2010-CL-III dtd. 17.05.2010, Balance Sheets, Profit and
Loss Accounts, Auditors’ Reports and Directors’ Reports, etc. in respect of
subsidiary companies have not been attached with the Balance Sheet of the
Company and the consolidated financial statements presented by the Company
include financial results of its subsidiary companies duly audited by statutory
auditors. However, the Company will make available the audited annual accounts
of the subsidiary companies and the related detailed information upon request
of any shareholder of the Company and of its holding and subsidiary companies
seeking such information at any point of time. The annual accounts of the
subsidiary companies will also be kept for information by any shareholder in
its head office and that of the subsidiary companies concerned. The holding
company shall furnish a hard copy of details of accounts of subsidiaries to any
shareholder on demand.
FUTURE PLAN OF
ACTION:
·
A major initiative has been launched to drive full size
module manufacturing
·
cost down by working out various strategies
including stabilizing module
·
efficiencies, improving throughput & achieving
a better OEE and Plant yield
·
Work towards increased efficiency. The same would
be possible by:-
·
Integrating tandem technology with textured TCO
substrates;
·
Improving the back reflection layer
FORM : 8
|
Corporate identity number of the company |
U74999DL2007PLC160162 |
|
Name of the company |
Moser Baer Solar Limited |
|
Address of the registered office or of the
principal place of business in |
43-B, Okhla Industrial Estate, New Delhi -
110020 Delhi, INDIA |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of charge holder |
Punjab National Bank, Large Corporate
Branch, Tolstoy House, Tolstoy Marg, New Delhi – 110001, Delhi, India, |
|
Nature of instrument creating charge |
Hypothecation Agreement Of Current Assets
Dated 28.03.2011. |
|
Date of instrument Creating the charge |
28/03/2011 |
|
Amount secured by the charge |
Rs. 500.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest Base Rate +4% i.e 13.50% Per Annum
Presently Payable At Monthly Rests. Terms
of repayment The Working Capital Demand Loan To Be
Repaid At The End Of 4th Month From The Date Of Drawdown.It Shall Be Adjusted
Out Of The Regular Fbwc Limit To Be Sanctioned By Pnb Or Any Other Bank And
In Case It Is Not Tied Up,The Company Shall Repay The Same From Its Own
Sources. Margin NIL Extent
and operation of the charge Charge in favour of Punjab National Bank, LCB,
Tolstoy House, New Delhi is first pari passu charge by way of hypothecation
of stock of raw material, stock in process, finished goods, packing material
and stores & spares including stocks lying at depots ,in transit,
go-downs & docks and book debts, both present & futures, o/s decrees,
money receivables, Government subsidies, claims, bill contracts and
investment any other current asset present and future with the working
capital lenders. Other
To meet shortfall in working capital
requirements .prepayment at the rate of 1%,if paid before three months,
otherwise nil. |
|
Short particulars of the property charged
(Including location of the property) |
Current assets of the company including
raw material and other stock lying at the site, stores, spares, stock in
transit, finished goods and book debts, outstanding decrees, money
receivables. Government subsidies, claims, bill
contracts and investments. all other Securities As Extended For The Working
Capital Facilities Shall Apply Mutatis-Mutandis For The Present Facility. |
FIXED ASSETS :
·
Leasehold Improvements
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Computers
·
Software
·
Buildings
·
Utilities
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. 44.22 |
|
|
1 |
Rs. 72.09 |
|
Euro |
1 |
Rs. 62.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.