BUSINESS INFORMATION REPORT
1. Summary Information
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Country |
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Company Name |
QUAD ELECTRONIC SOLUTIONS PRIVATE LIMITED |
Principal Name 1 |
MR. RAMINDER SINGH SOIN |
|
Status |
MODERATE |
Principal Name 2 |
MR. GURURAJ AYEKAVADI |
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|
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Registration # |
01-031153 |
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Street Address |
12-50/4/A, ADJACENT TO INDUSTRIAL ESTATE, MEDCHAL, |
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Established Date |
18.02.1999 |
SIC Code |
-- |
|
Telephone# |
91-8418-308001/ 308002 |
Business Style 1 |
MANUFACTURING |
|
Fax # |
91-8418-308066 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
ELECTRONIC PRODUCTS |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.94,305,410/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS – 100% |
Banking |
INDIAN OVERSEAS BANK |
|
Public Limited Corp. |
NO |
Business Period |
11 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
B (26) |
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Related
Company |
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Relation
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Country
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Company
Name |
CEO |
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HOLDING COMPANY |
-- |
CELESTICA ( |
-- |
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Note |
-- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 (15 Months) |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
222,774,000
|
Current Liabilities |
155,130,000
|
|
Inventories |
76,792,000
|
Long-term Liabilities |
156,443,000 |
|
Fixed Assets |
103,016,000 |
Other Liabilities |
4,230,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
315,803,000 |
|
Invest& other Assets |
3,089,000 |
Retained Earnings |
232,939,000 |
|
|
|
Net Worth |
89,868,000 |
|
Total Assets |
405,671,000 |
Total Liab. & Equity |
405,671,000 |
|
Total Assets (Previous Year – 31.12.2008) |
240,742,000 |
|
|
|
P/L Statement as of |
31.03.2010 (15 Months) |
(Unit: Indian Rs.) |
|
|
Sales |
764,785,000 |
Net Profit |
38,732,000 |
|
Sales(Previous yr – 31.12.2008) |
396,964,000 |
Net Profit(Prev.yr) |
38,414,000 |
MIRA
INFORM REPORT
|
Report Date : |
10.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
QUAD ELECTRONIC SOLUTIONS PRIVATE LIMITED |
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|
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Formerly Known
As : |
CELESTICA ( RAMNISH ELECTRONICS PRIVATE LIMITED |
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Registered
Office : |
12-50/4/A, Adjacent to Industrial Estate, Medchal, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.02.1999 |
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Com. Reg. No.: |
01-031153 |
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CIN No.: [Company Identification
No.] |
U52334AP1999PTC031153 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
HYDR00984E |
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|
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PAN No.: [Permanent Account No.] |
AABCR5515K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Electronic Products. (PCB Assemblies) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
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 359000 |
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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. However trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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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Registered Office/Factory : |
12-50/4/A, Adjacent to Industrial Estate, Medchal, |
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Tel. No.: |
91-8418-308001/ 308002 |
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Fax No.: |
91-8418-308066 |
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E-Mail : |
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Website : |
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Corporate Office : |
7th Floor, |
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Tel. No.: |
91-40-39161617 |
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Fax No.: |
91-40-39161629 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Raminder Singh Soin |
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Designation : |
Managing Director |
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Address : |
76, 77, Jawahar Rail Colony, |
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Date of Birth/Age : |
26.07.1971 |
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Date of Appointment : |
18.02.1999 |
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DIN No.: |
00122332 |
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Name : |
Mr. Gururaj Ayekavadi |
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Designation : |
Whole Time Director |
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Address : |
449, Amarjyoti Layout, Domlur, |
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Date of Birth/Age : |
05.05.1958 |
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Qualification : |
B. Tech |
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Date of Appointment : |
07.09.2010 |
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DIN No.: |
00606019 |
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Name : |
Mr. Sanjay Tangri |
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Designation : |
Director |
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Address : |
13-6-463/A/27, Ashok Vihar Colony, Kulsumpura, |
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Date of Birth/Age : |
01.08.1967 |
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Qualification : |
B. Com, Graduate ICWAI |
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Date of Appointment : |
21.08.2009 |
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DIN No.: |
02455950 |
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Name : |
Mr. Raymen Soin |
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Designation : |
Director |
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Address : |
76, 77, Jawahar Rail Colony, |
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Date of Birth/Age : |
19.06.1973 |
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Qualification : |
B.A. |
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Date of Appointment : |
05.08.2009 |
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DIN No.: |
02579607 |
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Name : |
Mr. Praveen Narayan Rawle |
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Designation : |
Whole Time Director |
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Address : |
173, Block 1,2,3,4 Athwelli, Medchal,
Rangareddy – 501401, |
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Date of Birth/Age : |
04.10.1970 |
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Qualification : |
B. Tech |
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Date of Appointment : |
21.08.2009 |
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DIN No.: |
02756450 |
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|
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Name : |
Mr. Andrew Charles Scheele |
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Designation : |
Whole Time Director |
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Address : |
Grosser Hasenpfad 126, 60598, Grankfurt, 60598, |
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Date of Birth/Age : |
25.09.1970 |
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Qualification : |
MBA |
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Date of Appointment : |
07.09.2010 |
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DIN No.: |
02790715 |
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Name : |
Mr. Ranjan Das Gupta |
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Designation : |
Director |
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Address : |
Flat No. C-601, Supertech Rameshwar Orchids, H – 1, kaushambi, |
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Date of Birth/Age : |
26.05.1971 |
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Date of Appointment : |
12.08.2009 |
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Date of Ceasing : |
21.08.2009 |
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Name : |
Ms. Ngan Ying Monica Fung |
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Designation : |
Director |
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Address : |
Flat E, 35/F, Block 5, Royal Ascot, No |
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Date of Birth/Age : |
08.10.1961 |
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Date of Appointment : |
23.02.2007 |
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Date of Ceasing : |
21.08.2009 |
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Name : |
Mr. Chan Seng Hoe |
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Designation : |
Director |
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Address : |
BLK 287 B, Jurong East, Street 21 13-340, |
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Date of Birth/Age : |
09.07.1961 |
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Date of Appointment : |
23.02.2007 |
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Date of Ceasing : |
21.08.2009 |
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DIN No.: |
01662447 |
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Name : |
Mr. Viswanath Gowtham |
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Designation : |
Director |
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Address : |
E-301, Adarsh Residency, 47th Cross, Jayanagar,
8th Block, Bagalore – 560 082, |
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Date of Birth/Age : |
21.03.1946 |
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Date of Appointment : |
28.09.2005 |
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Name : |
Mr. Rahul Suri |
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Designation : |
Director |
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Address : |
44, |
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Date of Birth/Age : |
09.03.1965 |
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Date of Appointment : |
28.09.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Raminder Singh Rail |
6601379 |
|
Raymen Soin |
2829162 |
|
Total |
9430541 |
As on 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Electronic Products. (PCB Assemblies) |
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PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Number of Joints |
Numbers |
5333600000 |
4020440000 |
5270487 |
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GENERAL INFORMATION
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Bankers : |
Indian Overseas Bank, |
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Facilities : |
Note: 1. The above loan and cash credit are secured by charge on Company’s
land consisting 2.15 acres along with 51924 sq ft built up area located at
adjacent to Industrial Estate, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
Reliance Humsafar, IV Floor, Road No.11, Banjara Hills, |
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Tel. No.: |
91-40-30465000 |
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Fax No.: |
91-40-30465299 |
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PAN No.: |
AAAFB9852F |
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Holding Company: |
Celestica ( CIN No.: U31909KA2005PTC035565 |
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Ultimate Holding
Company : |
Celcstica Inc, |
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Fellow Subsidiary : |
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CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9430541 |
Equity Shares |
Rs.10/- each |
Rs.94.305
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 (15 Months) |
31.12.2008 (12 Months) |
31.12.2007 (12 Months) |
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SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
94.305 |
21.866 |
21.866 |
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2] Share Application Money, pending allotment |
0.000 |
359.379 |
328.378 |
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3] Reserves & Surplus |
232.939 |
46.000 |
46.000 |
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4] (Accumulated Losses) |
(237.376) |
(276.107) |
(314.521) |
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NETWORTH |
89.868 |
151.138 |
81.722 |
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LOAN FUNDS |
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1] Secured Loans |
156.443 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
156.443 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
246.311 |
151.138 |
81.723 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
103.016 |
113.800 |
108.957 |
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Capital work-in-progress |
3.089 |
12.637 |
22.752 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
76.792
|
32.324
|
28.935 |
|
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Sundry Debtors |
183.559
|
53.160
|
61.090 |
|
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Cash & Bank Balances |
3.674
|
4.295
|
22.463 |
|
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Other Current Assets |
0.000
|
0.000
|
0.000 |
|
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Loans & Advances |
35.541
|
24.526
|
18.630 |
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Total
Current Assets |
299.566
|
114.305
|
131.118 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
150.570
|
77.184
|
157.213 |
|
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Other Current Liabilities |
4.560
|
2.099
|
19.837 |
|
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Provisions |
4.230
|
10.321
|
4.054 |
|
Total
Current Liabilities |
159.360
|
89.604
|
181.104 |
|
|
Net Current Assets |
140.206
|
24.701
|
(49.986) |
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MISCELLANEOUS EXPENSES |
0.000
|
0.000
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
246.311 |
151.138 |
81.723 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 (15 Months) |
31.12.2008 (12 Months) |
31.12.2007 (12 Months) |
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|
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Income |
764.785 |
396.964 |
344.486 |
|
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Other Income |
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TOTAL |
764.785 |
396.964 |
344.486 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
|
726.053 |
354.917 |
517.798 |
|
|
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Administrative Expenses |
|
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Advertising Expenses |
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TOTAL |
726.053 |
354.917 |
517.798 |
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PROFIT BEFORE
TAX |
38.732 |
38.795 |
(173.312) |
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Less |
TAX |
0.000 |
0.381 |
0.909 |
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PROFIT AFTER TAX |
38.732 |
38.414 |
(174.221) |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Payable/ waived extinguished by group companies |
18.610 |
70.878 |
-- |
|
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TOTAL EXPORS |
18.610 |
70.878 |
-- |
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IMPORTS |
|
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|
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Capital Goods |
11.356 |
10.737 |
47.195 |
|
|
|
Purchase of Raw Materials |
169.068 |
112.136 |
110.948 |
|
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TOTAL IMPORTS |
180.424 |
122.873 |
158.143 |
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Earnings Per
Share (Rs.) |
7.00 |
17.57 |
(79.68) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 (15 Months) |
31.12.2008 (12 Months) |
31.12.2007 (12 Months) |
|
PAT / Total Income |
(%) |
5.06
|
9.68
|
(50.57) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.62
|
17.01
|
(72.19) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.43
|
0.28
|
(2.12) |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.51
|
0.59
|
2.22 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.28
|
0.72 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
Registered office of the company has been shifted from 136A,
Phase Vida, Jeedimetla,
BACKGROUND
Subject (formerly known as Celestica (
REVIEW OF
OPERATIONS:
During the financial year the Company has earned an income of Rs.764.785
millions as against Rs.396.964 millions in the previous year and made a profit
after tax of Rs.38.732 millions as against Rs.38.414 millions in the previous
year.
FUTURE PROSPECTS:
The Board is of the opinion that the presently the company is catering
to the Domestic needs. To be a global player, scale up to Tier — I it is
important to have export business.
To achieve this Company has plans to setup offices in Europe and in
CHANGE IN
FINANCIAL:
The Company has change the financial year of the Company to coincide
with the tax year as per the Income Tax Act 1961 i.e. 1st April to
31st March as per the provisions of Section 210(4) of the Companies
Act, 1956 with the approval of the meeting of Board of Directors held on 17th
September. 2009 and the Current Financial Year of the Company to 1st
January 2009 to 31st March 2010 and all subsequent Financial Years
shall be from 1st April to 31st March of the following
year.
INCREASE IN
AUTHORIZED CAPITAL:
During the financial year, the Company has increased the authorized
capital from Rs.90.000 millions to Rs.100.000 millions with the approval of the
members at the EGM held on 15th March, 2010.
CONTINGENT LIABILITIES AND COMMITMENTS:
|
Particulars |
31.03.2010 (Rs. In
Millions) |
|
i. Commitments Estimated amount of contracts, net of advances, remaining to be executed
on capital account and not provided for. |
0.066 |
|
ii. Bank Guarantee Bank guarantee issued by Banks |
2.588 |
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FIXED ASSETS:
- Buildings
- Plant and
Machinery
- Factory
Equipment
- Office
Equipment
- Electrical Equipment
- Computers
- Furniture and
Fixtures
- Vehicles
Bankers Charges
Report as per Registry
]
|
Corporate
identity number of the company |
U52334AP1999PTC031153 |
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Name of the
company |
Quad Electronic Solutions Private Limited |
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Address of the registered
office or of the principal place of
business in |
12-50/4/A, Adjacent To Industrial Estate, Medchal, |
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This form is for |
Modification of charge |
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Charge
identification (ID) number of the charge to be modified |
10172255 |
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Type of charge |
Immovable property Book debts |
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Particular of
charge holder |
Indian Overseas Bank |
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Nature of
instrument creating charge |
1. Letter of Hypothecation 2. Confirmation Letter for Supplemental Mortgage 3. Confirmation Letter (applicable for limited company mortgagor)
evidencing creation of supplemental mortgage. |
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Date of
instrument Creating the charge |
14.06.2010 |
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Amount secured by
the charge |
Rs.302.500 Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
(a) Rate of interest TL: BPLR + 1.25% presently 13.25% p.a. WC: BPLR + 0.75% presently 12.75% p.a. (b) Terms of repayment Term Loan of Rs.100 Millions is to be repaid in 15 quarterly installments
at Rs.5.000 Millions each during first 6 quarters and at Rs.7.700 Millions
during the next 9 quarters (last installment to be adjusted) starting from
31.12.2009 till 30.06.2013. (c) Margin 20% for Term Loan 25% on paid stocks and 40% on Book Debts. 25% on Letter of Guarantee 10% on Letter of Credit (CC sub-limit) 10% on Letter of Credit (Foreign) inter-changeable with Buyer's
Credit. (d) Extent and operation of the charge Term Loan: Primary Security: Nil Working Capital: Primary Security: 1. Exclusive Charge on Plant and Machinery. 2. First
charge on all inventory, work in progress, finished goods and Book Debts. |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Company's Land consisting 2.15 acres along with 51924 Sft built up
area located at Sy.No.156/1 part, Plot No.12-50/4/A adjacent to Industrial
Estate, Medchal Village, Medchal Mandal, RR Dist. Lease hold rights in
respect of property bearing Plot No.134 and 135 admeasuring 1083.45 Sq Mts
(1295.81 Sq Yds) situated at Sy No.29 in Phase V, situated at IDA Jeedimetla
RR Dist. |
|||||||||||||||||||||
|
Particulars of
the present modification |
The total limits have been enhanced from Rs.150.000 Millions to
Rs.302.500 Millions, as under: (Rs.
in Millions)
|
|
Corporate identity
number of the company |
U52334AP1999PTC031153 |
|
Name of the
company |
QUAD ELECTRONIC SOLUTIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
12-50/4/A, Adjacent to Industrial Estate, Medchal, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Indian Overseas Bank, Email: rjbvnbr@hydsco.iobnet.co.in
|
|
Nature of
instrument creating charge |
1. Letter of
Hypothecation 2. Letter of Hypothecation
(in case of open advances only) 3. Letter of Term
Loan repayment schedule 4. Letter of
confirmation creating mortgage 1 5. Letter of
confirmation creating mortgage 2 |
|
Date of
instrument Creating the charge |
12.08.2009 |
|
Amount secured by
the charge |
Rs. 150.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest TL : BPLR + 1.25%
presently 13.25% p.a. WC: BPLR + 0.75%
presently 12.75% p.a. Terms of repayment Term Loan Rs.100
millions is to be repaid in 15 quarterly installments Rs.5.000 millions
during first 6 quarterly installments and Rs.7.700 during the next 9 quarterly installments
(last instalment to be adjusted) starting from 31.12.2009 till 30.06.2013. Margin 20% for Term
Loan. 25% on paid
stocks and 40% on Book Debts. Extent and operation of the charge Term Loan: Primary Security:
Nil Working Capital: Primary Security:
First charge on the entire current assets of the Company. |
|
Short particulars
of the property charged (Including location of the property) |
Company's Land
consisting 2.15 acres along with 51924 sft built up area located at Sy No
156/1 part, Plot No.12-50/4/A adjacent to Industrial Estate, Medchal Village,
Medchal Mandal, RR Dist. Lease hold rights
in respect of property bearing Plot No.134 and 135 admeasuring 1083.45 sq mts
(1295.81 sq yds) situated at Sy No.29 in Phase-V, situated at IDA Jeedimetla
RR Dist. |
WEBSITE DETAILS:
Overview
As a company that delivers end-to-end product lifecycle solutions,
quality is a quintessential measure that drives their people and processes.
Their attributes of being prolific, dynamic and synergic helps them effectively
manage their customer’s complete product lifecycle from development to delivery
to support. Their ability to execute accurately and a customer-focused business
model enables them to collaborate with partners of all sizes.
Innovate
From providing design and engineering know-how to introducing a new
product, from designing Supply Chain to managing commodity, from implementing
continual development on the manufacturing requirements to providing logistic
solutions, they employ innovation at every step of their processes to minimize
the time-to-market at a lower cost and maximize flexibility.
Execute
By employing global processes of system integration, warehousing,
inventory management, logistics and fulfillment support they swiftly execute
product manufacturing from Proto- Build to NPI and finally volume
manufacturing. With world class products manufactured at the facility, QUAD
come equipped with an edge when it comes to giving you the best. Spread over
50,000 sq. ft., (Floor Space) and extendable to another 100,000 sq. ft the
facility is equipped with top-of-the-line SMT lines, radial and axial machines,
testing equipments and BGA rework line.
Deliver
They deliver innovative manufacturing solutions to the unique
requirements; made possible by customer-centered logistics and fulfillment capabilities
that provide customized "in-time" delivery of warehouse items day in
or day out - all of which can be customized to each individual need. The
synergistic relationship with their suppliers provides shortest lead times,
maximum flexibility and scalability to their customers.
Sustain
Driving the theory of concept to commissioning they ensure sustenance of
value extension through their comprehensive after market, repair, returns and
recycling services. Through the post-market product performance monitoring
system they go beyond being the trusted partner. They scrutinize the
dependability of all active products, from the time they leave the facility
until they are taken away from service. They leverage their design, sourcing,
manufacturing and logistics support to ensure their customers’ products outrun
the market competition at any given point of time.
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.70.04 |
|
Euro |
1 |
Rs.58.93 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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.