1. Summary Information
|
|
|
Country |
|
|
Company Name |
INA BEARINGS
INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Norbert Indelkofer |
|
Status |
Moderate |
Principal Name 2 |
Mr. Milind B. Kasodekar |
|
|
|
Registration # |
25-15240 |
|
Street Address |
Plot No. A-3 Talegaon Industrial Area, Village Navalakh Umbre, Taluka,
Maval, Pune-410507, |
||
|
Established Date |
23.09.1997 |
SIC Code |
-- |
|
Telephone# |
91-20-30614104 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-20-30614362 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Bearings |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 519,475,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100%
|
Banking |
ICICI Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
13 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (30) |
|
Related Company |
|||
|
Relation |
Country |
Company Name |
CEO |
|
Associate Company |
-- |
Fag Roller Bearings Private Limited |
-- |
|
Note |
- |
||
2. Summary Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
127,8185,000 |
Current Liabilities |
781,626,000 |
|
Inventories |
638,239,000 |
Long-term Liabilities |
1,737,742,000 |
|
Fixed Assets |
1143,533,000 |
Other Liabilities |
102,112,000 |
|
Deferred Assets |
103,316,000 |
Total Liabilities |
2,621,480,000 |
|
Invest& other Assets |
12,992,000 |
Retained Earnings |
35,310,000 |
|
|
|
Net Worth |
554,785,000 |
|
Total Assets |
3,176,265,000 |
Total Liab. & Equity |
3,176,265,000 |
|
Total
Assets (Previous Year) |
3,068,827,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
4,357,000,000 |
Net Profit |
175,000,000 |
|
Sales(Previous yr) |
3,060,000,000 |
Net Profit(Prev.yr) |
65,000,000 |
MIRA
INFORM REPORT
|
Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
INA BEARINGS
INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-3 Talegaon Industrial Area, Village Navalakh Umbre, Taluka,
Maval, Pune-410507, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
23.09.1997 |
|
|
|
|
Com. Reg. No.: |
25-15240 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 519.475 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN1997PTC015240 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEI04152B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAC17163H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Exporter of Bearings. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2220000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company has
been successful in wiping off the accumulated losses of the previous year.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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/ Factory : |
Plot No. A-3 Talegaon Industrial Area, Village Navalakh Umbre, Taluka,
Maval, Pune-410507, |
|
Tel. No.: |
91-20-30614104/ 30614100/ 30614124/ 30614131 |
|
Fax No.: |
91-20-30614362/ 30614308 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
21 Acre |
|
Location : |
Owned |
|
|
|
|
Regional Office
1: |
200, 3rd Main, 6th Cross, MICO Layout,
Bangalore560076, |
|
Tel No.: |
91-80-26685516/ 26685583 |
|
Fax No.: |
91-80-26689986 |
|
Email : |
|
|
|
|
|
Regional Office
2 : |
A-322, Ansal Chamber – 1, |
|
Tel No.: |
91-11-26712413/ 55608061/ 55673442/ 26189553 |
|
Fax No.: |
91-11-26712412 |
|
Email : |
|
|
|
|
|
Regional Office
3 : |
31, Shakespeare Sarani, |
|
Tel No.: |
91-33-22833226 |
|
Fax No.: |
91-33-22890097 |
|
|
|
DIRECTORS
As on 02.03.2011
|
Name : |
Mr. Milind B. Kasodekar |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Alternate Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
D Wing, Punya
Nagar, Bibwewadi, Pune – 411037, |
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|
Date of Birth/Age : |
15.09.1963 |
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|
Qualification : |
BE |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Experience : |
27 Years |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.01.2008 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00002264 |
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Other Directorship:
|
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Santosh K Chakraborty |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
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|
Address : |
195, Mandakini Enclave, Alkananda, New Delhi-110019, |
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Date of Birth/Age : |
04.01.1960 |
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|
Date of Appointment : |
30.06.2009 |
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|
DIN No.: |
00040303 |
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Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Norbert Indelkofer |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Honaustrabe 40, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.01.1958 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.12.2005 |
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|
DIN No.: |
01418168 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Shrikrishna
C. Korde |
|
Designation : |
Company Sectary |
|
Address : |
4 – A1, Madhuwanti
Cooperative Society, Near Karve Statue Kothrud, Pune-411038, |
|
Date of Birth/Age : |
15.05.1976 |
|
Date of Appointment : |
27.05.2005 |
|
Pan No.: |
ANQPK9577R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.03.2011
|
Names of Shareholders |
|
No. of Shares |
|
Industriewerk
Schaeffler INA Ingenierdienst GmbH, |
|
22274399 |
|
Schaeffler
Beteiligungs Gesellschaft GmbH, |
|
1 |
|
INA Schaeffler
KG, |
|
29673100 |
|
TOTAL |
|
51947500 |
Equity Share Break up (Percentage of Total Equity)
As on 02.03.2011
|
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 and
Exporter of Bearings. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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|
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Bankers : |
|
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|
|||||||||||||||||||||||||||
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Facilities : |
|
|||||||||||||||||||||||||||
|
Banking
Relations : |
|
|
|
|
|
Financial Institution: |
Fag Bearings India Limited, Nariman Bhavan, 8th Floor,
Backbay Reclamation, Nariman Point, Mumbai-400021, Maharashtra, India. |
|
|
|
|
Auditors : |
|
|
Name : |
Mohinder Puri and Company Chartered Accountants |
|
Address : |
1A-1AD, Vandhana, 11, Tolostoy Marg, New Delhi-110001, |
|
Tel. No.: |
91-11-47102200/47103300/47102250 |
|
Fax No.: |
91-11-23731220/23313908/47102290 |
|
E-Mail : |
|
|
PAN.: |
AAAFM9269K |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
53000000 |
Equity Shares |
Rs.10/- each |
Rs.530.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
51947500 |
Equity Shares (Of the above 13322500 Equity share of Rs.10 each were allotted for consideration
other than cash, namely on conversion of unsecured loan into equity share to
Schaeffler KG) All the above share were held by INA Beteiligungsverwaltungs, the
holding company along with us subsidiaries (in the previous year these shares
were held by Schaeffler KG along with us subsidiaries |
Rs.10/- each |
Rs.519.475
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 |
519.475 |
519.475 |
519.475 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
35.310 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(139.996) |
(205.079) |
|
|
NETWORTH |
554.785 |
379.479 |
314.396 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
450.000 |
450.000 |
0.000 |
|
|
2] Unsecured Loans |
1287.742 |
1476.424 |
2159.326 |
|
|
TOTAL BORROWING |
1737.742 |
1926.424 |
2159.326 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2292.527 |
2305.903 |
2473.722 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1143.533 |
1318.273 |
1471.233 |
|
|
Capital work-in-progress |
6.076 |
0.378 |
25.346 |
|
|
Capital Advance |
6.916 |
0.832 |
11.581 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
103.316 |
125.374 |
149.251 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
638.239
|
603.282 |
861.999
|
|
|
Sundry Debtors |
733.392
|
606.736 |
432.100
|
|
|
Cash & Bank Balances |
228.735
|
119.924 |
124.834
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
316.058
|
294.028 |
278.376
|
|
Total
Current Assets |
1916.424
|
1623.970 |
1697.309 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
736.618
|
726.765 |
859.760 |
|
|
Other Current Liabilities |
45.008
|
26.911 |
13.252
|
|
|
Provisions |
102.112
|
9.248 |
7.986
|
|
Total
Current Liabilities |
883.738
|
762.924 |
880.998 |
|
|
Net Current Assets |
1032.686
|
861.046 |
816.311
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2292.527 |
2305.903 |
2473.722 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4357.000 |
3060.000 |
2124.000 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
4357.000 |
3060.000 |
2124.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
3779.000 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
3779.000 |
2656.000 |
2246.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
578.000 |
404.000 |
(122.000) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND
FINANCIAL EXPENSES (D) |
82.000 |
79.000 |
90.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
496.000 |
325.000 |
(212.000) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
233.000 |
234.000 |
225.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
263.000 |
91.000 |
(437.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
88.000 |
26.000 |
(135.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
175.000 |
65.000 |
(302.000) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(140.000) |
(205.000) |
97.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
35.000 |
(140.000) |
(205.000) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earned |
0.677 |
1.372 |
3.087 |
|
|
|
FOB Value of Exports |
115.998 |
102.100 |
45.372 |
|
|
TOTAL EARNINGS |
116.675 |
103.472 |
48.459 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1483.315 |
798.845 |
878.773 |
|
|
|
Capital Goods |
26.521 |
22.373 |
88.645 |
|
|
|
Traded goods |
909.111 |
753.399 |
682.697 |
|
|
TOTAL IMPORTS |
2418.947 |
1574.617 |
1650.115 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.37 |
1.25 |
(5.81) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.02
|
2.12
|
(14.22) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.59
|
3.09
|
(13.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.24
|
(1.39) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.73
|
7.09
|
9.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17
|
2.13
|
1.93 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL
HIGHLIGHTS:
Significant development has been registered by the Company during the year 2010 manifested by a growth of approx 53% in net sales, 190% in profit before tax and 169% in profit after tax, as compared to the previous year. This indicates our increase in market share of existing products and launching of new products.
The improvement in the overall performance of the Company is mainly driven by the management’s focus on in house production at its plant located at Talegaon, Pune. In terms of volume, the production increased by approx 63% in 2010 as compared to the previous year.
The increase in production was well supplemented by increase in overall productivity of men and machine of the company. Whereas production increased by 63%, manpower increased by only 17%.
DEVELOPMENTS IN 2010
In
the Year 2010,
The Indian ancillary industry is basically divided into two segments i.e. organised and unorganised. Whereas the organised segment caters to the high precision engineering products, the unorganized segment produces low value added components for the auto industry. Your company captured high market share in the organised sector due to it’s continues focus on technologically high-quality products.
Indian auto component industry has grown-up by approximately 18% (i.e. a turnover of about USD 26 billion), as compared to the year 2009 – 2010.
Further the OEM market accounts for approximately 60% to 65% of total bearings demand and automotive industry is the largest consumer of bearings among OEMs representing Production Machinery, Power transmission and other important user sectors.
OPPORTUNITIES
The ACMA - McKinsey
Vision document forecasts the potential for the Indian auto component industry
to be around USD 40-45 billion by 2015. A double digit growth in domestic
Automobile market and low cost availed resources, envisaged
Global automobile
manufacturers see
Overall prospects
for industrial development thus remain very positive in
OUTLOOK
Indian economy is fast growing and investments in private and public new projects would certainly increase as the business confidence improves. Accordingly, demand for the Company's products in domestic market will grow in the coming years.
Furthermore, they are convinced that as the Indian industry aligns itself to strict emission norms and higher carbon accountability, the advanced technological products of Schaeffler Group which reduce friction and enhance efficiency will attract robust demand in future.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10155672 |
|
Corporate
identity number of the company |
U34300PN1997PTC015240 |
|
Name of the
company |
INA BEARINGS
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. A-3 Talegaon Industrial Area, Village Navalakh Umbre, Taluka,
Maval, Pune-410507, |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
Fag Bearings India Limited, Nariman Bhavan, 8th Floor,
Backbay Reclamation, Nariman Point, Mumbai-400021, Maharashtra, India. |
|
Email |
|
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental deed
of hypothecation |
|
Date of
instrument Creating the charge |
25.08.2009 |
|
Amount secured by
the charge |
Rs.500.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 10% Per Annum
{The interest rate will be reviewed on a half yearly basis and may be revised
depending upon the prevailing cost of capital} Terms of
Repayment Full amount shall
be repayable within three years from actual date of disbursement. Extent and
Operation of the charge Secured against
the security of an exclusive first charge by way of hypothecation of the
Borrowers movable plant and machinery, machinery spares, tools and
accessories more particularly described in schedule 1 hereto (hereinafter
referred to as "Borrower's Asset") which would rank pari passu with
the security already created in favour of FAG India at the time of execution
of the said Deed of Hypothecation executed on March 13, 2009. |
|
Short particulars
of the property charged |
All movable plant
and machinery, machinery spares, tools and accessories at Plot No. A-3
Talegaon Industrial and |
|
Particulars of
the present modification |
Limit increase by
INR 200 million aggregating to INR 500 Million Secured against the security
of an exclusive first charge by way of hypothecation of the Borrowers movable
plant and machinery, machinery spares, tools and accessories more
particularly described in schedule 1 hereto (hereinafter referred to as
"Borrower's Asset") which would rank pari passu with the security
already created in favour of FAG India at the time of execution of the said
Deed of Hypothecation executed on March 13, 2009. |
CONTINGENT
LIABILITY
|
Particulars |
31.03.2010 (Rs
in Millions ) |
31.03.2009 (Rs.
in Millions ) |
|
Bank Guarantee issued to Statutory authorities |
0.050 |
0.050 |
|
Sales tax demand under appeal not provided for |
108.103 |
69.262 |
|
|
139.384 |
100.5429 |
FIXED ASSETS:
- Building
- Leasehold
Improvements
- Office Equipment
- Plant and Machinery
- Furniture, Fittings and Equipment
- Motor Vehicles
- 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 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.52.78 |
|
|
1 |
Rs.82.73 |
|
Euro |
1 |
Rs.68.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
|
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.