MIRA
INFORM REPORT
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Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
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Name : |
QUEST MACHINING AND MANUFACTURING PRIVATE LIMITED |
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Formerly Known
As : |
MECHANICAL TRAINING ACADEMY PRIVATE LIMITED |
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Registered
Office : |
No. 7/13, 21/2, Bhattarhalli, 14th Km, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.03.2000 |
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Com. Reg. No.: |
08-26760 |
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CIN No.: [Company Identification
No.] |
U80302KA2000PTC026760 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM02575G |
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PAN No.: [Permanent Account No.] |
AACCM3073E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
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Training of Mechanical Engineering Software and Computer Aided
Engineering Analysis |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. 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.
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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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
INFORMATION PARTED BY
Management Non-Cooperative
LOCATIONS
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Registered Office : |
No. 7/13, 21/2, Bhattarhalli, 14th Km, |
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Tel. No.: |
91-80-25618764/ 25612185/ 41190900/ 66996300/ 42495000/ 42495010 |
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Fax No.: |
91-80-25618764/ 25618170/ 41190901/ 66996310 |
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E-Mail : |
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Website : |
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Factory : |
QuEST Special Economic Zone, No 437/A, Hattargi Village,
Hukkeri Taluk, Belgaum District, Karnataka, India |
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Overseas Offices : |
Located at ·
US ·
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DIRECTORS
(AS ON 30.09.2010)
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Name : |
Mr. Aravind Shivaputrappa Melligeri |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
24.05.1968 |
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Date of Appointment : |
27.03.2000 |
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Name : |
Mr. Ajit Aravind Prabhu |
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Designation : |
Director |
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Address : |
3, |
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Date of Birth/Age : |
20.07.1970 |
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Date of Appointment : |
27.03.2000 |
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Name : |
Mr. Ajay Aravind Prabhu |
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Designation : |
Director |
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Address : |
# 67, Purva Park Ridge, Krishnarajpura, GC Palya, Off Outer Ring Road,
Bangalore – 560 048, Karnataka, India |
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Date of Birth/Age : |
19.07.1968 |
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Date of Appointment : |
31.07.2003 |
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Name : |
Mr. Natarajan Rajgopal |
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Designation : |
Additional Director |
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Address : |
# 318, 1st J Main Rd, Kasturi Ngr Bg, 3rd CRS, 2nd Mn, Bangalore –
560043, Karnataka, India |
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Date of Birth/Age : |
20.07.1961 |
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Date of Appointment : |
17.12.2010 |
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Email : |
KEY EXECUTIVES
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Name : |
Mr. Ravi M Hugar |
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Designation : |
Company Secretary |
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Address : |
No 36, III Floor, |
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Date of Birth/Age : |
02.06.1982 |
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Date of Appointment : |
09.05.2008 |
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Name : |
Mr. Natarajan |
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Designation : |
Chief Operating Officer |
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Name : |
Mr. Peter Howard |
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Designation : |
Chief technology Officer |
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Name : |
Mr. Rajeev Kaul |
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Designation : |
Chief financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
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Names of Shareholders |
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No. of Shares |
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Jagadish Melligeri |
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50 |
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Ajit Prabhu |
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50 |
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Ajay Prabhu |
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100 |
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IL and FS Trust Company Limited, |
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15947267 |
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IL and FS Trust Company Limited, |
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15947268 |
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Total |
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31894735 |
(AS ON 31.09.2010)
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Category |
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Percentage |
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Other |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Training of Mechanical Engineering Software and Computer Aided
Engineering Analysis |
GENERAL INFORMATION
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Bankers : |
·
Axis Bank Whitefield, Bengaluru, ·
State Bank of Industrial Finance
Branch, 61, |
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Facilities : |
NOTE: (a) Cash Credit / Export Credit facilities are secured by
first charge on all the current assets of the Company, second charge being on
the Land and Building and other properties belonging to QuEST (b) The term loan from banks are secured by fixed assets
of the Company both present and future, Land and building belonging to QuEST
India, current assets of the Company, hypothecation of lease hold rights of
land allotted in QuEST SEZ, pledge of shares in the Company, corporate
guarantee of QuEST India and QuEST Global Inc. and the personal guarantee of
the directors. (c) Term loan repayable within 1 year Rs.23.900 Millions (d) The term
loan/cash credit facility are net of unamortised loan processing fees of
Rs.3.679 (e) Finance lease is secured by hypothecation of the
movable plant and machinery leased to the Company.
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Banking
Relations : |
-- |
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Financial Institution : |
· Deckel Maho Pfronten Gmbh Deckel Maho – Strasse 1, 87459 |
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Auditors : |
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Name : |
S. R. Batliboi and Associates Chartered Accountants |
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Address : |
UB City, |
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Holding Company : |
Quality Engineering and Software Technologies Private Limited CIN No.:U72200KA1998PTC023481 |
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Subsidiaries Company : |
Quest Machining and Manufacturing LLC |
CAPITAL STRUCTURE
(AS ON 30.09.2010)
Authorised Capital:
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No. of Shares |
Type |
Value |
Amount |
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38000000 |
Equity Shares |
Rs.10/- each |
Rs.380.0000 Millions |
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Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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31894735 |
Equity Shares |
Rs.10/- each |
Rs.318.947
Millions |
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(AS ON 31.03.2010)
Authorised Capital:
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No. of Shares |
Type |
Value |
Amount |
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33000000 |
Equity Shares |
Rs.10/- each |
Rs.330.000 Millions |
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Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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31894735 |
Equity Shares |
Rs.10/- each |
Rs.318.947
Millions |
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NOTE:
Of the above 31,894,535 shares (2009 -18,499,800 shares) are
held by Quality Engineering and Software Technologies Private Limited ('the
holding company' or 'QuEST
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
318.947 |
190.000 |
100.00 |
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2] Share Application Money |
0.000 |
4.947 |
3.947 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(65.230) |
(68.608) |
(54.459) |
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NETWORTH |
253.717 |
126.339 |
49.488 |
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LOAN FUNDS |
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1] Secured Loans |
305.243 |
155.060 |
110.813 |
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2] Unsecured Loans |
17.500 |
49.000 |
0.000 |
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TOTAL BORROWING |
322.743 |
204.060 |
110.813 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
576.460 |
330.399 |
160.301 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
218.239 |
182.801 |
111.779 |
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Capital work-in-progress |
155.187 |
42.826 |
29.302 |
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INVESTMENT |
36.070 |
28.451 |
20.608 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
64.399
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38.139 |
14.832 |
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Sundry Debtors |
89.076
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91.338 |
25.360 |
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Cash & Bank Balances |
75.457
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10.116 |
2.893 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
63.302
|
42.557 |
8.671 |
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Total
Current Assets |
292.234
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182.150 |
51.756 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
83.960
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78.598 |
48.185 |
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Other Current Liabilities |
18.390
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4.524 |
4.261 |
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Provisions |
22.920
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22.707 |
0.698 |
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Total
Current Liabilities |
125.270
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105.829 |
53.144 |
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Net Current Assets |
166.964
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76.321 |
(1.388) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
576.460 |
330.399 |
160.301 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL INCOME |
240.982 |
244.506 |
87.217 |
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Less |
EXPENSES |
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Administrative Expenses |
237.604 |
241.012 |
122.166 |
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Advertising Expenses |
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TOTAL |
237.604 |
241.012 |
122.166 |
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PROFIT BEFORE
TAX |
3.377 |
(13.309) |
(34.949) |
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Less |
TAX |
(0.001) |
0.084 |
(0.228) |
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PROFIT AFTER TAX
|
3.378 |
(14.149) |
(34.721) |
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Earnings Per
Share (Rs.) |
0.18 |
-- |
-- |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.40
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(5.79) |
(39.81) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.66
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(3.65) |
(21.37) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
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(0.11) |
(0.71) |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.77
|
2.45 |
3.31 |
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Current Ratio (Current Asset/Current Liability) |
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2.33
|
1.72 |
0.97 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
Rs. In Millions
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sundry Creditors |
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-
Capital Creditors |
28.679 |
24.831 |
48.185 |
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Others |
55.281 |
53.767 |
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NOTE:
The Registered office of the company has been shifted from Meriside
Heights, 5th Floor, K R Puram, Bangalore – 560 068, Karnataka, India
to the present address w.e.f. 01.08.2006.
OPERATING RESULTS
The company achieved the break even and recorded a profit of
Rs.3.378 Millions. The Earning per share has turned to positive this year and
the Company has also been successful in reducing the expenditures which is
reflecting in the table above. Overall the year under consideration has been a
successful year for the Company.
ALLOTMENT OF SHARES
The
Company has increased its Authorised Share Capital from twenty crores to Rupees
thirty three crores considering the business expansion of the Company. In the Board
Meeting held on March 31, 2010 The Board has allotted 1,28,94,735 shares to M/s
Quality Engineering and Software Technologies Private Limited and with that
allotment, the paid up capital of the Company increased to Rupees thirty one
crores eighty nine lakhs forty seven thousand three hundred and fifty only.
SUBSIDIARY AND JOINT VENTURE
COMPANY
A
Subsidiary Company was Incorporated in United States in the name and Style of
“QuEST Machining and Manufacturing LLC” on July 27, 2006 which is basically
into the business of Manufacturing and Sourcing of Precision Turned, Machined
(Milled) Components, alloy based products, forging, casting for automobile,
Aerospace Medical, Hydraulic, pneumatic, and general engineering Industries.
Revenue from the Manufacturing activity of the Subsidiary Company for the Year
ending March 2010 was USD 4,020,086/- which is quite a success in Manufacturing
Industry.
The Company in association with M/s Magellan Aerospace
Limited a Company incorporated in
FORM NO. 8
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Corporate
identity number of the company |
U80302KA2000PTC026760 |
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Name of the
company |
QUEST MACHINING AND MANUFACTURING PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
No. 7/13, 21/2, Bhattarhalli, 14th Km, |
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This form is for |
Creation of
charge |
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Type of charge |
·
Movable
property (not being pledge) |
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Particular of
charge holder |
Deckel Maho
Pfronten GmBH Deckel Maho Str
1, 87459, Pfronten -999999, |
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Nature of
instrument creating charge |
CNC Machines |
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Date of
instrument Creating the charge |
13.05.2010 |
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Amount secured by
the charge |
Rs.12.552
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of
repayment To be paid within
365 days from the Date of supply of machines
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Particulars of
the property charged |
DMU 60 Monoblock
- two machines - Quest Machining And Manufacturing Private Limited, QuEST
SEZ, 437/A, Hattargi Village, Hukkeri taluk, DMG 55H Due Block
- Quest Machining And Manufacturing
Private Limited, QuEST SEZ, 437/A, |
FIXED ASSETS
· Leasehold Improvement
· Building
· Plant and Machinery
· Computers Equipments
· Furniture and Fittings
· Office and Other Equipments
WEB DETAILS
PROFILE
Subject covers the
entire spectrum of engineering, offering end-to-end product development
solutions to global majors. Subject's expertise ranges from concept design,
detailing and analysis, to product realization solutions. Subject uses Six
Sigma methodology, ISO and AS9100 certified processes to provide better, faster
and more value-optimized solutions to its customers.
Subject Manufacturing specializes in precision manufacturing, sheet metal
fabrication, special processing, design and development of tooling, fixtures
and gauges for aerospace, automotive and industrial verticals. The integrated
engineering and manufacturing capability uses best-in-class manufacturing
processes, state-of-the-art technologies and a technically competent team. The
flexible, modular approach from design through to manufacturing provides a
customized, end-to-end solution to the customers; thereby reducing cost and
increasing value.
BOARD OF DIRECTORS
ARAVIND MELLIGERI –
CO-FOUNDER AND CHAIRMAN
Aravind Melligeri is responsible for balancing growth and stability through
acquisitions, partnerships and strategic alliances. He focuses on long-term and
strategic needs for building subject into an organization that provides efficient
global delivery capabilities. His ability to sense new opportunities and
‘quest’ for exploiting out of the box ideas has given the company a competitive
edge.
Presently, Aravind is subject’s foray into
Design and Build, and Manufacturing of Aerospace, Automotive and Industrial
components.
Before co-founding subject with Ajit Prabhu in 1997, Aravind worked at Ford
Motor Company, U.S.A, developing new tools to accelerate the evaluation of
occupant safety compliance of new vehicles at concept and preliminary design
stage using computer simulations, robust design and Six Sigma methodologies.
He has been conferred with the ‘Young Achiever Award’ by the Indo-American
Society for his contributions in fostering better relationship between
Aravind holds a Bachelor's degree in
Mechanical Engineering from
Ajit
Prabhu provides the vision and strategic direction for the growth of subject.
His main focus is to integrate global resources to provide the competitive edge
to subject.
Ajit is known for his determination, dynamism and his passion to understand
customer challenges. His mission is to improve the profitability of customers
through effective utilization of subject's global resources. He is a Six Sigma
Greenbelt certificate holder and also the recipient of the Young Investigator
Award from the
International Association for Dental Research. He gained practical experience
at General Electric's Corporate Research and
Ajit holds a Bachelor's degree in Mechanical Engineering from
He was inducted as a life time member into distinguished Livingston W. Houston
13 Society of Patroons of Rensselaer Polytechnic Institute. He also serves on
the Engineering School Advisory Council at
Michael
Propen (Mike) positions subject through his high-level interactions. He also
counsels subject in talent acquisitions, defining the technology road map, and
advising on potential acquisition and integration of these new entities into
subject.
Prior to joining subject in 2002, Mike held the position of Corporate Vice
President Technology and Program
Management at Honeywell
International. He is credited with driving productivity through corporate-wide
networks, and accelerating growth through sharing of common processes and best
practices. He started his career as a Design Engineer and worked in this
position for 5 years at Pratt & Whitney Aircraft and then at Lockheed
Missiles and Company. In 1977 he joined Textron where he held various senior
positions. In late 1994 he became Vice President of Engineering at
AlliedSignal,
Mike holds a Bachelor of Arts degree in Physics/Mathematics from
Tim
Jones, a keen champion of Indian manufacturing partnerships, provides strategic
thought and direction in facilitating the growth of the company. He brings his
vast network of industry contacts and knowledge of commercial and military aerospace
industry to help evolve subject’s aerospace manufacturing strategy to better
fit the industry needs.
Recently retired as Managing Director of
Rolls-Royce,
In 1992, Tim became Director, South East
Asia, based in
He is Fellow of the Royal Aeronautical
Society and a fellow of the Chartered Institute of Management. He is also a
Member of the Commonwealth Partnership for Technology Management.
MANAGEMENT
ARAVIND MELLIGERI
– PRESIDENT AND CEO
Aravind Melligeri is responsible for balancing growth and stability through
acquisitions, partnerships and strategic alliances. He focuses on long-term and
strategic needs for building subject into an organization that provides
efficient global delivery capabilities. His ability to sense new opportunities
and ‘quest’ for exploiting the out of the box ideas has given the company a
competitive edge.
Presently, Aravind is leading subject’s
foray into Design and Build, and Manufacturing of Aerospace, Automotive and
Industrial components. Before co-founding subject with Ajit Prabhu in 1997,
Aravind worked at Ford Motor Company, U.S.A, developing new tools to accelerate
the evaluation of occupant safety compliance of new vehicles at concept and
preliminary design stage using computer simulations, robust design and Six
Sigma methodologies.
He has been conferred with the ‘Young Achiever Award’ by the Indo-American
Society for his contributions in fostering better relationship between
Aravind holds a Bachelor's degree in Mechanical Engineering from
NARENDRA SHANBHAG - GENERAL MANAGER - OPERATIONS
Narendra Shanbhag is responsible for overall operations for the manufacturing
division; including Manufacturing Engineering, Precision Manufacturing, Global
Sourcing, Procurement and Quality. He is also in charge of deliveries and
meeting customer requirements. Narendra is assisted by a team of experienced
managers and engineers.
He brings in rich industry experience of
over 20 years in varied fields like Engineering, Manufacturing, Vendor
Development, Project Management for manufacturing and sourcing activities. He
has also served in Fabrication and Manufacturing industry with vast experience
in manufacturing of various products and components ranging from machined
components, castings, sheet metal components, gears, geared motors and turbine
components.
Narendra is trained in Six Sigma by GE and executed various Six Sigma projects
from design through to manufacturing in order to provide value added service to
customers. He is credited with value engineering of turn key projects which
have provided quality and cost benefits to customers, with up to 50% reduction
in cost and improving quality to Six Sigma levels.
Narendra is a B.E. in Mechanical Engineering and also holds a Masters Degree in
Production Management from
NAGABHUSHANA
JUNJAPPA - GENERAL MANAGER - BUSINESS DEVELOPMENT
Nagabhushana Junjappa is responsible for Business Development and Customer
Relationship Management. His responsibilities include identifying potential
opportunities with customers for manufacturing, growing the relationship and
creating a road map for providing integrated product development support to
customers.
Nagabhushana Junjappa has over 18 years of experience and expertise in
manufacturing ranging from operations, process planning, product development
and program management, vendor management and strategic initiatives.
Nagabhushana Junjappa is credited with establishment of strategic relationships
with aerospace and automotive OEMs. He was earlier employed with Bosch in
He is extensively trained in Design for Manufacturing and contributed to
complex product development through the Product Life Cycle for fuel injection
and engine development programs. He has been associated and credited with
streamlining manufacturing systems & cost reduction through re-engineering
of both products and processes.
Nagabhushana is a B.E. in Mechanical Engineering from the Regional
D. N. SUBBARAMU - TECHNICAL ADVISOR, AEROSPACE
D.N. Subbaramu is responsible for Aerospace manufacturing engineering,
establishment and implementation of special process requirements for aircraft
primes like Airbus and Boeing processes (ABP, BSEP, etc). He is also in charge
of FAIs and freezing of AMRs (
Subbaramu brings with him rich experience
spanning over 40 years in airframe machining which includes thin walled
machining on aluminum, titanium machining, steel machining and special
processes required by aircraft industry. During his 40 years tenure in
Hindustan Aeronautics Limited (HAL), he had established complete facilities for
supply of A320 Passenger doors to
He has extensively traveled to many major aircraft manufacturers in Europe and
Subbaramu is a B.E. in Mechanical Engineering from
Rajeev is overall responsible for Finance and Logistics. He has been with
subject for more than three years and has handled various functions such as
Budget, Treasury, MIS, Accounts, Contract Reviews, Fund Raising and Taxation.
He was instrumental in setting up subsidiaries in different geographical
locations. He was involved in strengthening Contract Review and Legal Risk
Compliance Mechanism.
He brings with him more than 8 years of
industry experience. Prior to joining subject, he worked with A.F.Ferguson and
Co (currently Deloitte Haskins and Sells). His areas of specialization include
Banking and Corporate Finance, Legal Risk Assessment and Business Process
Review.
Rajeev holds a Bachelors degree in Mathematics (Honours) from
PRESS
RELEASE
AIRBUS TO SOURCE FROM QUEST GLOBAL
Aerospace products and services vendor QuEST Global
Manufacturing said it has been signed up to be the first Indian long-term
supplier in the private sector to make and directly supply parts for EADS,
Airbus and group companies. QuEST said it was chosen from out of many global
companies to be a Tier-1 vendor for certain current and future programmes of
the EADS group.
“QuEST will support various current programmes in the
manufacturing as well as current and upcoming programmes in design” through its
SEZ at
This is a first step into a manufacturing relationship with
Airbus on the existing programmes and can open up many other sourcing
opportunities, the Bangalore-based company said.
Mr. Aravind Melligeri, Chairman and Co-founder, QuEST
Global, said, “We are honoured by the confidence that Airbus has shown in QuEST
Global and we are eager and well prepared to take on this engagement.” QuEST
supplies aero structures, engines, accessories, actuation systems, aircraft
interiors and ground support equipment as also engineering services.
It was among many suppliers who were assessed by EADS
sourcing teams.
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.44.67 |
|
|
1 |
Rs.69.45 |
|
Euro |
1 |
Rs.59.37 |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
|
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.