MIRA
INFORM REPORT
|
Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
TATA SONS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
08.11.1917 |
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Com. Reg. No.: |
11-000478 |
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CIN No.: [Company
Identification No.] |
U99999MH1917PLC000478 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT07803F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Subject
undertakes Investment, Finance, Computer Consultancy, New Projects, Project Consultancy,
Market Research and Surveys. It also undertakes Property Development. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 920000000 |
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|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company of Tata Group, Country’s premier Industrial
House. Subject is doing exceedingly well. Its trade relations are fair. Payments
are always correct and as per commitments. Subject can be
considered good for business dealings at usual trade terms and conditions.
Subject’s credit worthiness is very high. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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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 DECLINED BY
|
Name : |
Mr. J. K. Putran |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-66658282 |
|
Date : |
06.01.2011 |
LOCATIONS
|
Registered Office : |
Bombay House No.
24, East Entrance, Opposite Nanavati Mahalaya, Homi Mody Street, Fort, Mumbai
– 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-22049131/22821266/66658282 |
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Fax No.: |
91-22-22048187/66658080 |
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E-Mail : |
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Website : |
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Corporate Office : |
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Tel. No.: |
91-22-22022427 |
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Fax No.: |
91-22-22040711 |
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E-Mail : |
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Branches : |
Located at :
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Marketing Offices : |
Located at : |
DIRECTORS
As On : 15.09.2010
|
Name : |
Mr.
Ratan Naval Tata |
|
Designation : |
Chairman
|
|
Address : |
Flat
12, Bakhtawar, Opp Colaba Post Office, Colaba, Mumbai – 400 005, |
|
Date of Birth/Age : |
28.12.1937 |
|
Date of Appointment : |
21.08.1974 |
|
Email: |
|
|
Election Commission ID No : |
MT/04/019/060249 |
|
DIN No : |
00000001 |
|
|
|
|
Name : |
Mr. Arunkumar
Ramanlal Gandhi |
|
Designation : |
Director |
|
Address : |
Akruti
Astha, 9th Floor, |
|
Date of Birth/Age : |
15.03.1943 |
|
Date of Appointment : |
18.08.2003 |
|
Election Commission ID No : |
MT/04/024/183220 |
|
DIN No : |
00007597 |
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|
|
|
Name : |
Mr.
Farrokh Kaikhushru Kavarana |
|
Designation : |
Director |
|
Address : |
CCI
Chambers, 5th Floor, |
|
Date of Birth/Age : |
17.03.1944 |
|
Date of Appointment : |
01.02.1989 |
|
|
|
|
Name : |
Mr.
Ishaat Hussain |
|
Designation : |
Whole
Time Director – Finance |
|
Address : |
222-A,
NCPA Apartments, Nariman Point, Mumbai – 400 021, |
|
Date of Birth/Age : |
02.09.1947 |
|
Date of Appointment : |
24.11.1998 |
|
DIN No : |
00027891 |
|
|
|
|
Name : |
Mr.
Jamshed Jiji Irani |
|
Designation : |
Director |
|
Address : |
H |
|
Date of Birth/Age : |
02.06.1936 |
|
Date of Appointment : |
19.06.1997 |
|
Election Commission ID No : |
BR/50/292/33319 |
|
DIN No : |
00311104 |
|
|
|
|
Name : |
Mr.
Ramabadran Gopalakrishnan |
|
Designation : |
Whole
Time Director |
|
Address : |
101
Baug E Abbas, 21-A, Cuffe Parade, Mumbai – 400 005, |
|
Date of Birth/Age : |
25.12.1945 |
|
Date of Appointment : |
24.11.1998 |
|
Election Commission ID No : |
HHJ0784694 |
|
DIN No : |
00027858 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
213-B,
NCPA Apartments, Nariman Point, Mumbai – 400 021, |
|
Date of Birth/Age : |
18.07.1938 |
|
Date of Appointment : |
22.01.2002 |
|
Election Commission ID No : |
WB/23/148/063742 |
|
DIN No : |
00027941 |
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|
|
|
Name : |
Mr.
Cyrus Pallonji Mistry |
|
Designation : |
Director
|
|
Address : |
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Date of Birth/Age : |
04.07.1968 |
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Date of Appointment : |
10.08.2006 |
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Passport No.: |
P349742 |
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Income-tax PAN |
AERPM9037N |
|
Voter’s Identify No.: |
MH/04/024/078725 |
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Email: |
|
|
DIN No : |
00010178 |
KEY EXECUTIVES
|
Name : |
Mr. Farokh
Nariman Subedar |
|
Designation : |
Company Secretary
|
|
Address : |
1, |
|
Date of Birth/Age : |
24.09.1955 |
|
Date of Appointment : |
01.01.1996 |
|
Email: |
|
|
Election Commission ID No : |
MT/04/024/024859 |
|
PAN No : |
AAGPS8433B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 15.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
Cyrus Investments
Limited, |
|
37122 |
|
Tata Naval Ratan |
|
357168 |
|
Tata Investment
Corporation Limited, |
|
300326 |
|
Tata Naval Noel |
|
2055 |
|
The Trustees Sir
Dorab Tata Trust |
|
113067 |
|
The Trustees Sir
Ratan Tata Trust |
|
95211 |
|
The Trustees R D
Tata Trust |
|
8838 |
|
The Trustees Tata
Education Trust |
|
15075 |
|
The Trustees Tata
Social Welfare Trust |
|
15075 |
|
The Trustees J R
D Tata Trust |
|
16200 |
|
Tata Motors
Limited, |
|
112375 |
|
Trent Limited, |
|
20000 |
|
Tata Industries
Limited, |
|
102295 |
|
Tata Chemicals
Limited, |
|
210237 |
|
Kalimati
Investment Company Limited, |
|
12375 |
|
Noshir Adi
Soonawala |
|
300200 |
|
Ramabadran Gopal
Krishnan |
|
20000 |
|
Jamshed J Irani |
|
26000 |
|
Farrokh K Kavarana |
|
10000 |
|
Radha Madhav Investments Limited, |
|
1000000 |
|
Jamsetji Tata Trust |
|
24500000 |
|
Navajbai Ratan Tata Trust |
|
15015000 |
|
Ishaat Hussain |
|
50000 |
|
Aloo Novel Tata |
|
100000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
31.24 |
|
Directors or relatives of directors |
|
2.87 |
|
Other top fifty shareholders |
|
65.89 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject undertakes
Investment, Finance, Computer Consultancy, New Projects, Project Consultancy,
Market Research and Surveys. It also undertakes Property Development. |
GENERAL INFORMATION
|
Customers : |
Some of the major
customers of the company are as under :
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No. of Employees : |
Around 11000
(Approximately) |
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Bankers : |
·
Central
Bank of Debenture Trustee
Section,
52/60, |
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Facilities : |
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Banking
Relations : |
Good |
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|
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|
Auditors : |
|
|
|
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
12, |
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Associates : |
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Subsidiaries : |
CIN No.: U67120MH1992PLC066160
CIN No.: U65990MH1991PLC060670
CIN No.: L67200MH1937PLC002622
CIN No.: U64200AP1995PLC044060
CIN No.: L22210MH1995PLC084781
CIN No.: U74999MH1922PLC001030
CIN No.: U99999MH1942PLC003573
CIN No.: U11100MH1993PLC134095
CIN No.: U92120MH2001PLC130365
CIN No.: U65990MH1994PLC077090
CIN No.: U74899DL1995PLC066685
CIN No.: U31900MH2005PLC158120
|
|
|
|
|
Joint Venture : |
Strategic Energy Technology Systems Limited (formerly Strategic
Equipment Supplies Limited) (w.e.f. 18.07.2008) |
CAPITAL STRUCTURE
AS ON 15.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,00,000 |
Ordinary shares |
Rs.1000/- each |
Rs.600.000
Millions |
|
4,27,50,000 |
Cumulative Redeemable Preference shares |
Rs.1000/- each |
Rs.42750.000 Millions |
|
|
Total |
|
Rs.43350.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,04,146 |
Ordinary shares |
Rs.1000/- each |
Rs.404.146 Millions |
|
42750000 |
Preference shares |
Rs.1000/-
each |
Rs.42750.000
Millions |
|
|
Total |
|
Rs.43154.146 Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
404146 |
Ordinary shares |
Rs.1000/- each |
Rs.404.146 millions |
|
42215000 |
Preference shares |
Rs.1000/-
each |
Rs.42215.000
millions |
|
|
Total |
|
Rs.42619.146 Millions |
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,00,000 |
Ordinary shares |
Rs.1000/- each |
Rs.600.000
Millions |
|
4,27,50,000 |
Cumulative Redeemable Preference shares |
Rs.1000/- each |
Rs.42750.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.43350.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,04,146 |
Ordinary shares |
Rs.1000/- each |
Rs.404.146Millions |
|
25,00,000 |
7% Cumulative Redeemable Preference shares |
Rs.1000/-
each |
Rs.2500.000
Millions |
|
3,97,50,000 |
8.25% Cumulative Redeemable Preference shares |
Rs.1000/-
each |
Rs.39750.000
millions |
|
1,40,000 |
7.5% Cumulative Redeemable Preference shares |
Rs.1000/- each |
Rs.140.000
millions |
|
3,60,000 |
7% Cumulative Redeemable Preference shares |
Rs.1000/- each |
Rs.360.000
millions |
|
|
Total |
|
Rs.43154.146 Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
404146 |
Ordinary shares |
Rs.1000/- each |
Rs.404.146 millions |
|
22,00,000 |
7% Cumulative Redeemable Preference shares |
Rs.1000/-
each |
Rs.2200.000
millions |
|
3,97,50,000 |
8.25% Cumulative Redeemable Preference shares |
Rs.1000/-
each |
Rs.39750.000
millions |
|
1,40,000 |
7.5% Cumulative Redeemable Preference shares |
Rs.1000/- each |
Rs.140.000
millions |
|
1,70,000 |
7% Cumulative Redeemable Preference shares |
Rs.1000/-
each |
Rs.170.000
millions |
|
|
Total |
|
Rs.42429.146 Millions |
Of the above Shares
|
No. of Ordinary Shares |
Ordinary Shares |
|
9315 |
Ordinary Shares of Rs.1000 each, were issued
as fully paid-up pursuant to contract without payments having been received
in cash. |
|
364853.5 |
Ordinary Shares of Rs.1000 each, were issued
as fully paid-up Bonus Shares by Capitalisation of Reserves and Share
Premium. |
|
Preference Shares |
|||||
|
No. of Preference Shares |
Rate Of Dividend |
Issue Period |
Date of Redemption |
Date of Put/Call Option (Where applicable) |
Amount (Rs. in Millions) |
|
15,00,000 |
7.00% |
August,2006 to June,2007 |
30th December,2011+ |
30th June,2009/ 31st December,
2010 |
1500.000 |
|
7,00,000 |
7.00% |
June,2007 to June,2008 |
31st December,2012+ |
30th June, 2010/ 31st December, 2011 |
700.000 |
|
3,95,15,000 |
8.25%# |
October 2007 to September 2009 |
# |
-- |
39515.000 |
|
1,40,000 |
7.50% |
Augest,2008 to April, 2009 ^ |
31st
March, 2014+ |
30th September, 2010/ 30th June, 2012 |
140.000 |
|
1,70,000 |
7.00% |
July,2009 to March,2010 ^ |
31st March,
2015+ |
30th September, 2011/ 30th June, 2013 |
170.000 |
|
+ The Preference Shares may be redeemed at an earlier date in the
event of a certain eventuality as may be decided by the Directors of the Company. |
|||||
|
# The Company, in consultation with the preference shareholders, will
announce a dividend rate at the end of five years from the date of allotment for each successive five year period thereafter. These
preference shares are redeemable at the end of twenty years or, in whole or part, on dividend reset dates in the event the issuer and the
investor do not consent to a mutually agreeable rate. |
|||||
|
^ or such extended date as the Directors of the Company may decide. |
|||||
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 |
42429.146 |
34129.146 |
27874.146 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
189256.276 |
180428.040 |
155242.134 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
231685.422 |
214557.186 |
183116.280 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
63500.000 |
69400.000 |
34400.000 |
|
|
2] Unsecured Loans |
50246.473 |
38107.873 |
53415.890 |
|
|
TOTAL BORROWING |
113746.473 |
107507.873 |
87815.890 |
|
|
DEFERRED TAX LIABILITIES |
7.784 |
5.028 |
2.626 |
|
|
|
|
|
|
|
|
TOTAL |
345439.679 |
322070.087 |
270934.796 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
300.352 |
321.995 |
325.452 |
|
|
Capital work-in-progress |
749.252 |
8.621 |
2.155 |
|
|
|
|
|
|
|
|
INVESTMENT |
323685.788 |
293358.779 |
235630.372 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
3914.469
|
3238.637
|
3122.870
|
|
|
Cash & Bank Balances |
26817.962
|
29175.677
|
36737.815
|
|
|
Other Current Assets |
1455.904
|
2505.107
|
2600.027
|
|
|
Loans & Advances |
5984.225
|
7721.220 |
3238.905
|
|
Total
Current Assets |
38172.560
|
42640.641
|
45699.617
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
6983.525
|
4488.500
|
1960.539
|
|
|
Sundry Creditors |
1264.600
|
1196.200
|
2107.000
|
|
|
Provisions |
9220.148
|
8575.249
|
6655.261
|
|
Total
Current Liabilities |
17468.273
|
14259.949
|
10722.800
|
|
|
Net Current Assets |
20704.287
|
28380.692
|
34976.817
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
345439.679 |
322070.087 |
270934.796 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2900.400 |
2912.100 |
2886.500 |
|
|
|
Dividend |
20966.600 |
17553.400 |
15786.700 |
|
|
|
Other Income |
4189.800 |
20774.600 |
26093.500 |
|
|
|
TOTAL |
28056.800 |
41240.100 |
44766.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Remuneration |
495.800 |
460.200 |
460.900 |
|
|
|
Establishment and Other Expenses |
1688.300 |
2243.200 |
1733.500 |
|
|
|
TOTAL |
2184.100 |
2703.400 |
2194.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
25872.700 |
38536.700 |
42572.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
8379.700 |
5048.400 |
1319.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
17493.000 |
33488.300 |
41253.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.300 |
37.900 |
34.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
17463.700 |
33450.400 |
41219.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1252.800 |
2914.700 |
3458.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
16210.900 |
30535.700 |
37760.400 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
54706.600 |
57270.700 |
66729.700 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2000.000 |
3500.000 |
4000.000 |
|
|
|
Dividend |
8310.000 |
6250.000 |
26470.000 |
|
|
|
Tax on Dividend |
8000.000 |
18000.000 |
13000.000 |
|
|
|
|
|
|
|
|
Less |
|
Interim
Dividends-Preference |
3147.400 |
0.000 |
07.500 |
|
|
|
Proposed
Dividends-Preference |
0.000 |
2520.800 |
949.200 |
|
|
|
Proposed
Dividends-Ordinary |
0.000 |
2829.000 |
2829.000 |
|
|
|
Interim
Dividends-Ordinary |
2839.000 |
0.000 |
0.000 |
|
|
|
Tax
on Dividends |
0.000 |
0.000 |
01.300 |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
46631.100 |
54706.600 |
57233.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Consultancy Services |
04.700 |
01.700 |
NA |
|
|
|
Dividends and Interest |
25.000 |
73.800 |
NA |
|
|
|
Other Earnings |
186.300 |
7210.100 |
NA |
|
|
TOTAL EARNINGS |
216.000 |
7285.600 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
32324 |
69319 |
91155 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
57.78
|
74.04
|
84.35
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
602.11
|
1148.67
|
1427.99
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
45.39
|
77.86
|
89.56
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.16
|
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.57
|
0.54
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
2.99
|
4.26
|
LOCAL AGENCY FURTHER INFORMATION
SUNDARY CREDITORS DETAILS
Rs
in Millions
|
PARTICULAS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Dues to other than Micro and Small Enterprises |
1222.000 |
1149.200 |
2013.700 |
|
Subsidiary Companies |
42.600 |
47.000 |
93.300 |
|
|
|
|
|
|
Total |
1264.600 |
1196.200 |
2107.000 |
FIXED ASSETS:
·
Land – Freehold
·
Land – Leasehold
·
Building – Freehold
·
Plant and Machinery
·
Motor Vehicles
·
Furniture, Fittings and Equipment
·
Computer Software
PERFORMANCE:
During the year, the
Company continued to acquire shares and securities of its existing industrial
enterprises as well as in newly promoted companies. Income earned from
dividends on investments during the year 2009-10 increased to Rs.20966.600
millions (Previous Year: Rs. 17553.400 millions). The dividend income
supplemented by the other income was primarily utilised to augment the
resources of the Company for increasing the long term investments in promoted
companies.
Investments, at
cost, as at March 31, 2010 stood at Rs. 323685.700 millions as compared to Rs.
293358.900 millions as at March 31, 2009. During the year the Company enhanced
its stake in Tata Industries. It also enhanced its stake in several listed Tata
companies.
In addition, the
Company made significant investments during the year in the unlisted
subsidiaries promoted by the Company.
The Company has been classified as a Non-Banking Non-Financial Company.
AS PER WEBSITE DETAILS
PROFILE
Tata Sons is the promoter of all
key Tata companies and holds the bulk of shareholding in these companies. The
chairman of Tata Sons has traditionally been the chairman of the Tata group.
About 66 per cent of the equity
capital of Tata Sons is held by philanthropic trusts endowed by members of the
Tata family. The biggest of these trusts are the Sir Dorabji Tata Trust and the
Sir Ratan Tata Trust, which were created by the families of the sons of
Jamsetji Tata.
Tata Sons is the owner of the Tata name and the Tata trademark, which are
registered in
Apart from this, the company's
activities are:
To maintain shareholding in main
operating companies
To invest in operating companies
to facilitate growth
To promote the group's entry into
new businesses
Tata Sons has two divisions:
Tata Quality Management Services:
Helps Tata companies achieve business excellence through the Tata Business
Excellence Model
Tata Financial Services: In-house financial
consultancy which carries out long- and short-term financial planning for Tata
companies
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 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.70.03 |
|
Euro |
1 |
Rs.58.93 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
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.