MIRA
INFORM REPORT
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Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
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Name : |
DAMODAR VALLEY CORPORATION |
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DVC Headquarters : |
DVC Towers, Vip Road,
Kolkata-700054, West Bengal |
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Country : |
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Date of Incorporation: |
07.07.1948 |
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Legal Form : |
Government Organization |
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Line of Business
: |
Control of floods, provision of irrigation, generation, transmission
and distribution of electrical energy and also soil conservation, unified tourism,
fisheries, socio-economic and health development of villages |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
A [66] |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and well established corporation having fine track.
The corporation is doing well. It is an established venture of Central
Government of India and the State Government of West Bengal and Jharkhand.
Trade relations are reported as fair. Payments are reported to be usually
correct and as per commitments. The subject 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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DVC Headquarters : |
DVC Towers, Vip Road,
Kolkata-700054, West Bengal |
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Maithon |
P.O Maithon Dam,Dist. Dhanbad, Jharkhand-828207 |
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Mejia Thermal Power
Station |
Durlavpur, P.O. MTPS, Dist. Bankura– 722183, West Bengal |
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P.O: |
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Bokaro Thermal Power
Station |
Dist.-Bokaro |
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Chandrapura Thermal Power
Station |
Dist.-Bokaro |
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Dist.-Burdwan |
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Koderma Thermal Project |
Dist.-Koderma |
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Raghunathpur Thermal
Project |
Dist.-Purulia, |
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Panchet |
P.O Panchet,Dist. Dhanbad, Jharkhand Pin-828206 |
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Tilaiya |
Dist. Hazaribagh, Jharkhand,Pin – 825413 |
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Konar |
P.O Konar Dist. Hararibagh, Jharkhand |
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Bermo |
P.O.Bermo,Dist. Bokaro, Jharkhand |
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Soil Conservation
Department |
Dist.Hazaribagh, Jharkhand Pin – 825301 |
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DVC BNS House, |
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Tilaiya |
Dist. Hazaribagh, Jharkhand, Pin – 825413 |
MANAGEMENT
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No. |
Name |
Designation |
Email/Telephone / fax |
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1. |
R. N. Sen |
Chairman |
chairman@dvc.gov.in |
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2. |
U. Kumar |
Secretary |
umesh.kumar@dvc.gov.in |
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3. |
P. K. Sinha, IP&TA&FS |
Chief Vigilance Officer |
prahlad.sinha@dvc.gov.in |
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4. |
U. Kumar |
Financial Adviser |
umesh.kumar@dvc.gov.in |
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5. |
A. N. Mishra |
Director(Technical) |
amarnath.mishra@dvc.gov.in |
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6. |
A. N. Mishra |
Director(Operations) |
(033)2355-6142 |
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7. |
B. K. Chakraborty |
Director(Systems) |
(033)2355-7939 |
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8. |
B. P. Singh |
Director(Projects) |
birendra.psingh@dvc.gov.in |
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9. |
M.Bandyopadhyay |
Director(Commercial) |
mk.banerjee@dvc.gov.in
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10. |
A. Mallik |
Director(HRD) |
amitava.mallik@dvc.gov.in |
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11. |
T. K. Gupta |
Director(Accounts) |
tapan.gupta@dvc.gov.in |
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12. |
S. S. Prasad |
Additional Secretary |
ss.prasad@dvc.gov.in |
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13. |
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Chief Engineer(11th Plan Project) |
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14. |
D. Basu |
Chief Engineer(GPE) |
dhrubes.basu@dvc.gov.in |
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15. |
A. K. Das |
Chief Engineer(OSU) |
arun.das@dvc.gov.in |
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16. |
P. K. Roy |
Chief Engineer(Proj.) |
(033)2355-3072 |
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17. |
A. Biswas |
Chief Engineer(PMI) & Head-IT |
arunava.biswas@dvc.gov.in |
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18. |
P. K. Das |
Chief Materials Manager |
prasanta.das@dvc.gov.in |
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19. |
D. K. Dutta |
Chief Engineer (Communication) |
dipak_dutta@dvcindia.org |
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20. |
A. K. Jain |
Chief Engineer(PSR) |
ashok.jain@dvc.gov.in |
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21. |
P. Roy |
Chief Engineer (EM&PC) |
(033)2355-9817 |
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22. |
P. K. Chowdhury |
Chief Engineer (Commercial) |
prabir.chaudhuri@dvc.gov.in |
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23. |
P. L. Saha |
Chief Engineer (C&I) |
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24. |
Dr. A. K. Agrawal |
Director Health Services |
ajaydvc@yahoo.co.in |
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25. |
A. K. Sharma |
Dy. Secretary & Public Grievance Officer |
(033)2355-1407 |
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26. |
D. Deb |
CPRO |
debashis.deb@dvc.gov.in
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27. |
Control Room |
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(033)2355-3988 |
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MAITHON (STD Code: 06540) |
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1. |
B. K. Barnwal |
Sr.CE(Systems) & Project Head |
binod.barnwal@dvc.gov.in |
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2. |
A. Bakshi |
Sr.CE(Generation) |
arindam.bakshi@dvc.gov.in |
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3. |
S. P. Verma |
CE(Civil) |
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4. |
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CE(CSO) |
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5. |
A. Dasgupta |
CE(Hydel) |
274650 |
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6. |
A. Nayak |
CE(CLD) |
amitava.nayek@dvc.gov.in |
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7. |
K. C. Roy |
CE(Trans) |
kc.ray@dvc.gov.in
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8. |
T.Bandyopadhyay |
CE(TSC) |
tapan.bandopadhyay@dvc.gov.in |
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9. |
M. Ahmed |
CE(CTC) |
m.ahmad@dvc.gov.in |
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10. |
K. Sahu |
CE(HQ) |
kaviraj.sahu@dvc.gov.in |
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11. |
CLD Control Room |
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cld@dvc.gov.in
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MEJIA THERMAL POWER STATION (STD Code: 03241) |
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1. |
G. D. Bhunia |
CE(Constn.) & Project Head |
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2. |
K. N. Singh |
CE(O&M) |
kashinath.singh@dvc.gov.in |
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1. |
P. Sen Roy |
CE(O&M) |
prabir.senroy@dvc.gov.in |
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BOKARO THERMAL POWER STATION (STD Code: 06549) |
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1. |
G. P. Singh |
CE, BTPS-B |
girish.singh@dvc.gov.in |
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2. |
A. Prasad |
CE, BTPS-A |
266704 |
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CHANDRAPURA THERMAL POWER STATION (STD Code: 06549) |
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1. |
K. K. Singh |
CE(O&M) |
krishnak.singh@dvc.gov.in |
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2. |
R. Basuri |
CE, CTPS(7&8) |
rameswar.basuri@dvc.gov.in |
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3 |
S. Jha |
Director, Training Institute |
sudhakar.jha@dvc.gov.in |
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1. |
D. Mitra |
CE(Constn.) |
debashis.mitra@dvc.gov.in |
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KODERMA THERMAL PROJECT (STD Code: 06534) |
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1. |
B. K. Singh |
CE(Constn.) |
292156 (Phone & Fax) |
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1. |
J. K. Singh |
CE(Constn.) |
jitendra.singh@dvc.gov.in |
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PANCHET (STD Code: 06540) |
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1. |
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CE & Project Head |
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2. |
S. Rakshit |
DCE(M) |
286265 |
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TILAIYA (STD Code: 06534) |
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1. |
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CE & Project Head |
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KONAR (STD Code: 06546) |
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1. |
S. K. Sinha |
Superintending Engineer (Civil) |
239047 |
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BERMO (STD Code: 06549) |
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1. |
S. R. Maji |
Coal Supdt. & Agent |
220245 |
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1. |
F.B. Singh |
Director,Soil Conservation Department |
fatesh.singh@dvc.gov.in |
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1. |
G. Chaudhury |
Resident Director, |
guna.dvc@dvc.gov.in |
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1. |
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Resident Director |
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BUSINESS DETAILS
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Line of Business : |
Control of floods, provision of irrigation, generation, transmission
and distribution of electrical energy and also soil conservation, unified
tourism, fisheries, socio-economic and health development of villages |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
OPERATIONAL
RESULTS
Rs. In millions
|
Particulars |
2006-2007 |
2007-2008 |
2008-2009 |
|
A. Revenue Account - Power |
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1. Revenue income |
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i) |
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a. Firm Domestic |
34000.000 |
38130.000 |
46200.000 |
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b. Firm Export |
5490.000 |
3880.000 |
3100.000 |
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c. Unscheduled Interchange |
3650.000 |
3320.000 |
4100.000 |
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d. |
- |
450.000 |
560.000 |
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e. Total [i (a)+i (b)+i (c)-i (d)] |
43140.000 |
44880.000 |
52840.000 |
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ii) Miscellaneous Income |
3060.000 |
4650.000 |
3700.000 |
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iii) Extra-ordinary Income |
- |
- |
- |
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iv) Total Income (i + ii + iii) |
46200.000 |
49530.000 |
56540.000 |
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2. Revenue Expenditure |
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i) Fuel |
16650.000 |
16520.000 |
22770.000 |
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ii) Purchase of Power |
2530.000 |
3170.000 |
3700.000 |
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iii) O&M, Establishment Charges |
4210.000 |
5010.000 |
6160.000 |
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iv) Overhead Charges |
1060.000 |
600.000 |
370.000 |
|
v) Total (i to iv) |
24450.000 |
25300.000 |
33000.000 |
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vi) Depreciation |
2120.000 |
2170.000 |
3200.000 |
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vii) Interest |
1670.000 |
2050.000 |
3130.000 |
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viii) Bad debt and Provision for Consumers O/S & Provisions for
Others |
30.000 |
240.000 |
760.000 |
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3. Total Expenditure: [v+vi+vii+viii] |
28270.000 |
29760.000 |
40090.000 |
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4. Effects of Extra-ordinary Transactions & Past Year’s
(Debit)/Credit |
[2510.000] |
[6630.000] |
[5900.000] |
|
5. Power Surplus before Tax: [1(iv)-3+4] |
15420.000 |
13140.000 |
10550.000 |
|
6. Deficit on Irrigation & Flood Control |
[590.000] |
[650.000] |
[730.000] |
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7. Income Tax |
2440.000 |
1230.000 |
950.000 |
|
8. Net Surplus after Tax:[5+6-7] |
12390.000 |
11260.000 |
8870.000 |
|
9. Gross Margin: [1(i)-v] |
18690.000 |
19580.000 |
19840.000 |
|
10.Current Year’s Profit on Power: [9+1(ii)-vi-vii-viii] |
17930.000 |
19770.000 |
16450.000 |
Sources and
Utilization of Fund
Rs. In millions
|
Particulars |
2006-2007 |
% |
2007-2008 |
% |
2008-2009 |
% |
|
SOURCES |
|
|
|
|
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|
|
(i) Loan capital |
2611.500 |
31.44 |
33126.200 |
12.49 |
40042.200 |
12.63 |
|
(ii) Ploughed back power surplus |
5742.800 |
6.91 |
5287.200 |
1.99 |
4260.000 |
1.34 |
|
(iii) Retained interest |
1271.900 |
1.53 |
1628.800 |
0.61 |
2243.100 |
0.71 |
|
Total members fund (i+ii+iii) |
33126.200 |
39.88 |
40042.200 |
15.10 |
46545.300 |
14.68 |
|
B. Borrowing from markets central loan and others |
21004.700 |
25.29 |
35487.500 |
13.38 |
64526.100 |
20.35 |
|
C. Internal resources |
28932.300 |
34.83 |
107818.000 |
40.65 |
131117.600 |
41.36 |
|
D. Capital Reserve |
- |
- |
81891.600 |
30.87 |
74844.000 |
23.61 |
|
TOTAL (A+B+C) |
83063.200 |
100.00 |
265239.300 |
100.00 |
317033.000 |
100.00 |
|
UTILISATION |
|
|
|
|
|
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|
Gross fixed assets |
48785.600 |
57.73 |
22273.100 |
84.03 |
226019.300 |
71.29 |
|
Capital work in progress |
34277.600 |
41.27 |
42366.200 |
15.97 |
91013.700 |
28.71 |
|
TOTAL |
83063.200 |
100.00 |
265239.300 |
100.00 |
317033.000 |
100.00 |
NOTE:
1. Loan capital contributed by the participating Governments to meet capital cost
of the projects is however treated as DVC’s own resources.
2. Power surplus and retained interest ploughed back fund-awaiting transfer to
capital head. Capital Expenditure & Sources (Power)-Cumulative
Capital Expenditure
and Sources [Power] Cumulative
Rs. In millions
|
Particulars |
Up
to 2008-09 |
|
|
1. Capital Expenditure |
|
317033.000 |
|
2. Sources |
|
- |
|
a. Central Government |
|
- |
|
(i) Loan Capital |
13740.700 |
- |
|
(ii) Ploughed back power surplus |
1420.000 |
- |
|
(iii) Retained Interest |
782.500 |
15943.200 |
|
b. W.B. Government |
- |
- |
|
(i) Loan Capital |
12842.100 |
- |
|
(ii) ) Ploughed back power surplus |
1420.000 |
- |
|
(iii) Retained Interest |
693.400 |
14955.500 |
|
c. |
13459.400 |
- |
|
Ploughed back power surplus |
1420.000 |
- |
|
Retained Interest |
6767.200 |
15646.600 |
|
d. Market Loan, Central Loan & Others |
- |
64526.100 |
|
e. Internal Resources |
- |
131117.600 |
|
f. Capital Reserve |
- |
74844.000 |
|
TOTAL |
- |
317033.000 |
NOTE: Capital Reserve
generate due to Revaluation of Assets.
Key Ratios
|
Growth (%) |
2006-2007 |
2007-2008 |
2008-2009 |
|
i) Increase in Total Income |
19.41 |
7.21 |
14.17 |
|
ii) Increase in Profit Before Tax |
69.57 |
10.24 |
[16.72] |
|
iii) Increase in Debtors |
24.89 |
52.59 |
49.07 |
|
iv) Increase in Inventory |
12.32 |
17.75 |
25.50 |
|
2. Profitability (%) |
|
|
|
|
i) Gross Margin/Sales |
43.33 |
43.62 |
37.56 |
|
ii) Profit (PBT)/Sales |
38.80 |
39.90 |
29.10 |
|
iii) Rate of Return (Post Tax-excluding extra ordinary income) |
14.87 |
5.47 |
4.44 |
|
3. Solvency / Liquidity |
|
|
|
|
i) Debt to Net Worth Ratio |
0.33 |
0.23 |
0.39 |
|
ii) Current Ratio |
1.46 |
1.52 |
1.36 |
|
iii) Quick Ratio |
1.35 |
1.40 |
1.21 |
|
4. Turnover Ratio |
|
|
|
|
i) Inventory Holding – Thermal (Monthly Consumption) Fuel |
0.89 |
0.74 |
0.88 |
|
ii) Debtors Holding (Monthly Sales) |
3.28 |
4.80 |
6.08 |
* Figures within () indicate decrease.
LOCAL AGENCY FURTHER INFORMATION
Formation
DVC, a legacy to the people of
The
Mr. Voorduin’s "Preliminary Memorandum" suggested a multipurpose
development plan designed for achieving flood control, irrigation, power
generation and navigation in the
By April 1947, full agreement was practically reached between the three
Governments of Central, Bengal and
The Corporation came into existence on 7th July, 1948 as the first multipurpose
river valley project of independent
Objectives
To realize DVC’s
Corporate Objectives:
- Generate maximum on sustainable basis through implementation of best O and M practices.
- Rejuvenate old generating units through refurbishment / replacement / comprehensive overhauling programme.
- Capacity augmentation through extension and green field projects.
- Strengthening of the existing transmission and distribution network and augmentation to match with the capacity addition.
- Transmit, distribute and supply reliable and quality power at competitive tariff.
- Improve the financial health of the Corporation by adoption of efficient industrial, commercial and human resource management practices.
- Ensure optimum utilization of available water resources through effective and efficient management and harnessing the remaining potential of Damodar basin.
- Adopt
measures for pollution abatement of
- Ensure environmental protection at plant level.
- Strengthen activities of eco-conservation in the valley area and to make Damodar valley more Green.
- Unified socio-economic development for the inhabitants of villages neighboring major projects of DVC.
- To pursue with development of tourism at Maithon, Panchet, Tilaiya and Hazaribagh.
- Revival of Fish Farming in DVC reservoirs.
- Skill development training to local youth around DVC Projects to improve their employability and upgrading infrastructural facilities at existing Industrial Training Institute (ITI) at Purulia, Durgapur and Chhatna in West Bengal and Chas and Hazaribagh in Jharkhand and also setting up of the Jharkhand Govt. proposed new ITI at Kodarma as well as new ITI at existing Chandrapura Training Institute of DVC.
Activities :
Power Generation
- Thermal
- Hydel
Transmission and Distribution
- 220 KV
- 132 KV
- 33 KV
Water Management
- Dams
- Barrage
- Canals
Mining
Growth Plan
- Capacity
addition programme of 1000 MW of 10th plan during 11th Plan.
- Capacity
addition programme of 5700 MW during 11th plan.
- Compatible
Power Transmission Network Augmentation.
Soil Conservation
- Aforestation/Silvi
Pastoral Development/Contour Trenching/Rehabilitation
- Field hedge,
pasture and horticultural development, drainage line treatments, silt detention
dams, renovation of ponds reclamation of land, demonstrations on crops,
fertiliser application, moisture conservation
- Coonstruction
of water harvesting structures
Social Development
- Self
Employment
- Education
- Health
- Agriculture
- Sport and
Culture
- Infrastructural
Development
- Social
Forestry
- Rural
Electrification
The asigned mission of the Damodar Valley Corporation under Section 12
of the DVC Act, 1948:
- Flood control
- Promotion and
operation of schemes for irrigation.
- Water supply
for industrial and domestic use.
- Navigation
and drainage
- Generation,
transmission and distribution of electrical energy.
- Promotion of
aforestation and control of soil erosion in valley area.
- Promotion of
public health, agriculture, industrial, economic and general well being in
Damodar valley.
Vision
To foster integrated development of Damodar Valley Command Area and achieve par
excellence in its multifaceted activities of control of floods, provision of
irrigation, generation, transmission and distribution of electrical energy and
also soil conservation, unified tourism, fisheries, socio-economic and health
development of villages within a radius of 10 KM of its projects.
Infrastructure
With the time DVC developed and expanded its infrastructure Five thermal power
stations with a capacity of 2570 MW, three hydro-electric power stations with a
capacity of 144 MW and one gas turbine station with a capacity of 82.5 MW
contribute to a total installed capacity of 2796.5 MW. Presently DVC has 60
sub-stations and receiving stations more than 5500-circuit km of transmission
and distribution lines. DVC has also four dams, a barrage and a network of
canals that play an effective role in water management. The construction of
check dams, development of forests and farms and upland and wasteland treatment
developed by DVC play a vital role in eco conservation.
DVC INFRASTRUCTURE AT
A GLANCE
|
DVC Command Area |
24,235 Sq. Kms |
|
POWER MANAGEMENT |
|
|
Total Installed
Capacity |
2796.5 MW |
|
Thermal Power
Stations |
Five Capacity 2570
MW |
|
Hydel Power
Stations |
Three Capacity 144
MW |
|
Gas Turbine
Station |
One Capacity 82.5
MW |
|
Sub-stations and
Receiving Stations |
At 220 KV– 11 nos. At 132 KV– 33 nos. At 33 KV– 16 nos. |
|
Transmission Lines |
220 KV– 1500 ckt
kms 132 KV– 3415 ckt
kms 33 KV– 1070 ckt
kms |
Water Management
|
Power Generation
Entrusted with the responsibilities of providing the vital input power
for industrial growth in the resource rich
DVC has maintained its lead role in the eastern region by adopting
itself to the challenges of time and technology during the course of last 59
years. DVC has been generating and transmitting power since 1953 and has
succeeded not only in meeting the needs of consumers but has also helped to
increase the demand of power which itself is an index of development.
Joint Venture Project
MAITHON POWER LIMITED a joint venture company by DVC and Tata
Power has been formed to implement 1000 MW Maithon Right Bank Thermal Power
Project for meeting the energy needs of power deficient regions on export
basis.
BOKARO POWER SUPPLY COMPANY LIMITED (BPSCL) a joint venture company of DVC and SAIL has been
established to operate and maintain the captive power and steam generation
plant, hived off by SAIL and its Bokaro Steel Plant and supply power and steam
exclusively to Bokaro Steel Limited
DVC EMTA COAL MINES LIMITED, a joint venture company formed with Eastern Minerals and
Trading Agency for development and operation of Captive Coal Mine Blocks and
supply of coal exclusively to DVC Thermal Power Projects of 10th and 11th plan.
Transmission
DVC had a humble beginning: a small generating unit with a few connected
lines. Today it has a vast network of transmission lines and substations spread
across the states of Jharkhand and West Bengal, extending beyond its command
area up to
DVC supplies bulk power at 33 KV, 132 KV and 220 KV through a network
covering more than 5500 circuit kilometers.
The DVC grid is interconnected with the State Electricity Boards of
Jharkhand (JSEB, erstwhile BSEB) and West Bengal (WBSEB), Grid Corporation of
Orissa and Power Grid Corporation of India Limited
Existing Lines (Ckt Kms.)
|
State |
33 KV |
132 KV |
220 K |
|
Jharkhand |
690 |
2175 |
898 |
|
|
380 |
1240 |
560 |
|
Orissa |
|
|
42 |
|
TOTAL |
1070 |
3415 |
1500 |
Existing Sub-stations (Nos.)
|
State |
33 KV |
132 KV |
220 K |
|
Jharkhand |
9 |
21 |
7 |
|
|
7 |
12 |
4 |
|
TOTAL |
16 |
33 |
11 |
Sub-stations, replacing old electromagnetic relays by numerical relays, installation of high accuracy meters, to quote a few examples. VC has undertaken a major initiative to renovate and update the existing infrastructure: replacing old circuit breakers by new generation breakers of high capacity, increasing transformer capacities at various
Water Management
|
||||||||||||||||||
Physical Performance
Generation of
Electricity
|
|
Actual
Generation(MU) |
|
|
Plants |
2008-09 |
2009-10 |
|
Thermal |
15122.53 |
14521.52 |
|
Hydel |
432.09 |
198.11 |
|
Overall |
15554.62 |
14719.63 |
Other operating parameters of thermal generating units:
Thermal
|
Parameter |
2008-2009 |
2009-2010 |
|
Plant Load Factor
(%) |
66.67 |
61.17 |
|
Specific Oil
Consumption (ml/kwh) |
4.41 |
2.66 |
|
Auxiliary Power
Consumption (%) |
10.60 |
10.68 |
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.45.37 |
|
|
1 |
Rs.73.53 |
|
Euro |
1 |
Rs.64.37 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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.