MIRA
INFORM REPORT
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Report Date : |
22.01.2011 |
IDENTIFICATION DETAILS
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Name : |
PREMIER EVOLVICS PRIVATE LIMITED (W. E. F. 29.10.2004) |
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Formerly Known As : |
PREMIER POLYTRONICS PRIVATE 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 : |
16.09.1981 |
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Com. Reg. No.: |
181-1107 |
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CIN No.: [Company
Identification No.] |
U02520TZ1981PTC001107 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBP03036F |
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PAN No.: [Permanent
Account No.] |
AABCP3031A |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer
of Testing Equipments |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5776404 |
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Status : |
Satisfactory |
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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 having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DENIED BY
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Name : |
Mr. Sarvanand |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-6611000 |
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Date : |
20.01.2011 |
LOCATIONS
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Registered Office : |
# |
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Tel. No.: |
91-422-6611000 |
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Fax No.: |
91-422-6611005 |
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E-Mail : |
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Website : |
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Factory : |
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DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. R Jagadish Chandran |
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Designation : |
Director |
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Address : |
# |
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Date of Birth/Age : |
06.03.1941 |
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Date of Appointment : |
11.03.1983 |
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Name : |
Mr. K V Srinivasan |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
13.03.1961 |
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Date of Appointment : |
01.07.1989 |
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Name : |
Mr. Sridhar Varadaraj |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
24.11.1969 |
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Date of Appointment : |
23.08.1995 |
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Name : |
Mrs. Sabitha Chandran |
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Designation : |
Director |
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Address : |
# |
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Date of Birth/Age : |
07.04.1942 |
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Date of Appointment : |
03.08.2002 |
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Name : |
Mrs. Shanthi Srinivasan |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
27.11.1965 |
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Date of Appointment : |
12.08.2006 |
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Other Directorship : |
Holiday Travels Private Limited U63040TZ1978PTC000813 Premier Polyweaves Private Limited U17111TZ1995PTC005901 Premier Fine Yarns Private Limited U17111TZ1994PTC005511 Primero Intimates Private Limited U18101TZ2004PTC011439 |
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Partnership Held : |
Premier Cotton Textiles |
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Name : |
Mrs. Kavitha Varadaraj |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
03.01.1970 |
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Date of Appointment : |
12.08.2006 |
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Other Directorship : |
Coimbatore Twisters Limited U74999TZ1981PLC001106 Holiday Travels Private Limited U63040TZ1978PTC000813 Premier Polyweaves Private Limited U17111TZ1995PTC005901 Premier Fine Yarns Private Limited U17111TZ1994PTC005511 |
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Partnership Held : |
Premier Cotton Textiles |
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Name : |
Mr. Rohit Rajendran |
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Designation : |
Director |
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Address : |
No.13, Ward No.18, |
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Date of Birth/Age : |
04.07.1979 |
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Date of Appointment : |
24.09.2007 |
KEY EXECUTIVES
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Name : |
Mr. G Ramachandran |
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Designation : |
Company Secretary |
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Address : |
# 2, Ramanuja Nagar, Uppilipalayam, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Equity
Shares |
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Sabitha Chandran |
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1192625 |
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Shanthi Srinivasan |
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34000 |
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Kavitha Varadaraj |
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34000 |
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R Jagadish Chandran |
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1192625 |
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Sridhar Varadaraj |
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34000 |
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K V Srinivasan |
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34000 |
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Total |
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2521250 |
AS ON 30.09.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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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 : |
Manufacturer
of Testing Equipments |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M Chartered Accountants |
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Address : |
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Tel No.: |
91-422-2552367/2552841 |
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Fax No.: |
91-422-2543862 |
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Email : |
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Subsidiaries : |
Orion Polyfab Private Limited CIN No.: U17111TZ2003PTC010611 PFYL Holdings Private Limited CIN No.: U07010TZ2003PTC010635 Pulankinar Holdings Private Limited CIN No.: U70101TZ2004PTC010970 P C T Holdings Private Limited CIN No.: U70101TZ2004PTC010971 CTPL Holdings Private Limited CIN No.: U70101TZ2004PTC010972 Polytronics Holdings Private Limited CIN No.: U65993TZ2004PTC011202 Pachapalayam Holdings Private Limited CIN No.: U65993TZ2004PTC011200 Avanashi Holdings Private Limited CIN No.: U65993TZ2004PTC011203 Puliakulam Holdings Private Limited CIN No.: U70101TZ2002PTC010073 Neelambur Holdings Private Limited CIN No.: U70101TZ2002PTC010073 PPL Holdings Private Limited CIN No.: U07010TZ2003PTC010636 Premier [ |
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Associates : |
Holiday Travels Private Limited CIN No.: U63040TZ1978PTC000813 Premier Fine Yarns Private Limited CIN No.: U17111TZ1994PTC005511 Coimbatore Twisters Limited CIN No.: U74999TZ1981PLC001106 Coimbatore Polytex Private Limited Sree Narasimha Textiles Private Limited Lakshmi Narasimha Textiles Private Limited Premier Cotton Textiles Premier Spg and Wvg Mills Private Limited Prima Products Private Limited Premier Mills Private Limited Nuva Systems Private Limited Premier Texturisers Private Limited Capricon General Finance Private Limited |
CAPITAL STRUCTURE
AS On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3400000 |
Equity Shares |
Rs.10/- each |
Rs.34.000Millions |
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10000 |
15% Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.0.100 Million |
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Total |
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Rs.34.100
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2521250 |
Equity Shares |
Rs.10/- each |
Rs.25.213
Millions |
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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 |
25.213 |
33.690 |
11.408 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1418.888 |
1409.679 |
1371.718 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1444.101 |
1443.369 |
1383.126 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.585 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.585 |
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DEFERRED TAX LIABILITIES |
13.453 |
14.932 |
11.948 |
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TOTAL |
1457.554 |
1458.301 |
1395.659 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
273.848 |
297.193 |
317.880 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
156.902 |
187.829 |
156.701 |
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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 |
42.537
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102.952 |
214.529 |
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Sundry Debtors |
11.977
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14.048 |
17.180 |
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Cash & Bank Balances |
222.887
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131.200 |
100.289 |
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Other Current Assets |
8.921
|
3.006 |
3.278 |
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Loans & Advances |
806.095
|
787.206 |
650.090 |
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Total
Current Assets |
1092.417
|
1038.412 |
985.366 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000
|
0.000 |
0.000 |
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Other Current Liabilities |
54.567
|
54.043 |
52.753 |
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Provisions |
11.046
|
11.090 |
11.535 |
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Total
Current Liabilities |
65.613
|
65.133 |
64.288 |
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Net Current Assets |
1026.804
|
973.279 |
921.078 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1457.554 |
1458.301 |
1395.659 |
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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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Sales |
215.023 |
449.648 |
448.005 |
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Other Income |
NA |
NA |
NA |
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TOTAL (A) |
NA |
NA |
NA |
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Less |
EXPENSES |
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TOTAL (B) |
NA |
NA |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
32.888 |
79.979 |
58.405 |
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Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
32.888 |
79.979 |
58.405 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.063 |
22.830 |
17.904 |
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PROFIT BEFORE
TAX (E-F) (G) |
9.825 |
57.149 |
40.501 |
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Less |
TAX (I) |
0.616 |
19.188 |
20.670 |
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PROFIT AFTER TAX
(G-I) (J) |
9.209 |
37.961 |
19.831 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1291.269 |
1253.308 |
1233.477 |
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BALANCE CARRIED
TO THE B/S |
1300.478 |
1291.269 |
1253.308 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export of Goods Calculate on FOB basis |
79.092 |
232.361 |
172.927 |
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Service Income |
5.133 |
5.146 |
10.299 |
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TOTAL EARNINGS |
84.225 |
237.507 |
183.226 |
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IMPORTS |
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Raw Materials |
7.810 |
24.087 |
28.310 |
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TOTAL IMPORTS |
7.810 |
24.087 |
28.310 |
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Earnings Per
Share (Rs.) |
3.40 |
32.91 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
4.57
|
12.71 |
9.04 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.72
|
4.28 |
3.11 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.04 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.05
|
0.05 |
0.05 |
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Current Ratio (Current Asset/Current Liability) |
|
16.65
|
15.94 |
15.33 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
Sundry Creditors details are not available.
DIRECTOR REPORT
The performance of the Company was satisfactory. In order to conserve resources, the Directors do not recommend any dividend for the year ended March 31, 2010.
Particulars relating to Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo pursuant to the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 are set out separately and form part of this Report.
There are no employees in respect of whom information pursuant to the requirement of Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules, 1975 is required to be given in this Report.
Bankers Charges
Report as per Registry
|
Name of the company |
PREMIER EVOLVICS
PRIVATE LIMITED |
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Presented By |
Sridhar Varadaraj – Managing Director |
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1) Date and description of instrument creating the change |
30.12.2003 Hypothecation of
goods and receivables to secure a Overdrafts / working Capital Demand loan /
short term working capital loan / export packing credit / exports bills
discounting / letter of credit / Guarantee 30.12.2003 Deed of
Hypothecation of movable fixed assets.
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 40.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Stock of raw
materials, work in progress, consumable stores, spares, finished goods,
receivables and other current assets. All the present
and future book debts. All moveable
machinery of the company both present and future. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The charge
operates as security for the repayment by the company to the Bank of Nova
Scotia for its working capital credit facilities aggregating to Rs. 40.000
Millions |
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5) Name and Address and description of the person entitled to the charge. |
The Bank of “ |
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6) Date and brief description of instrument modifying the charge |
12.01.2005 Hypothecation of
goods and receivables to secure a overdrafts / working capital demand loan
short term working capital loan export packing credit / export bills
discounting / letter of credit / guarantee Deed of
hypothecation dated 12th day of April 2005. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The amount
secured by the hypothecation charge is reduced to Rs. 19 Millions from Rs.
40.000 Millions |
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
90004191 |
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Corporate identity
number of the company |
U02520TZ1981PTC001107 |
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Name of the
company |
PREMIER EVOLVICS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
# |
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Type of charge |
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Particular of
charge holder |
Punjab National Bank Opposite |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
07.12.2006 |
|
Amount secured by
the charge |
Rs. 66.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
[Hypothecation] : 11.5 % p.a. Packing Credit –
upto 180 days – BPLR – 4.0 % i.e. 7.5 % p.a. upto 180 days, BPLR – 0.25 %
i.e. 11.25 % p.a. FLC / ILC
[DA/DP]- Commission for FLC – 0.25 %; ILC – as per Banker’s H. O. Guidelines Terms of
repayment Credit limit
extended by the bank is the nature of working capital and payable on demand
by the company. Margin Cash Credit
[Hypothecation] – 25 % Packing Credit –
25 % FOBP / FOUBP /
FOUBNLC / FOBNLC – Nil Documentary
Foreign / Inland letter of credit [DA/DP] - Nil Extent operation
of the charge The due repayment
and discharge of working capital facilities aggregating to Rs. 87.500
Millions by the company to Punjab National Bank are secured by – First pari-passu
charge on all current assets such as Raw Materials, stock in process finished
goods, receivables, stores and spares both present and future Second pari-passu
charge on movable fixed asset, present and future. |
|
Short particulars
of the property charged |
Raw materials,
store in process, finished goods, receivables, sores and spares and other
current assets, movable fixed assets situated in the premises / godown of the
company as mentioned in the instruments of hypothecation dated
07.12.2006. |
|
Date of latest
modification prior to the present modification |
23.10.2003 |
|
Particulars of
the present modification |
The aggregate of
working capital credit facilities is reduced from Rs. 90.000 Millions to Rs.
66.000 Millions and the hypothecation charge is to cover the same. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90004191 |
|
Corporate
identity number of the company |
U02520TZ1981PTC001107 |
|
Name of the
company |
|
|
Address of the
registered office or of the principal place of business in |
No 244atd Street,
Race Course, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
PUNJAB NATIONAL
BANK |
|
Nature of description
of the instrument creating or modifying the charge |
Hypothecation Of Current Assets Dated 7.12.2006 Hypothecation Of Moveable Assets Dated 7.12.2006 |
|
Date of
instrument Creating the charge |
07/12/2006 |
|
Amount secured by
the charge |
Rs.66.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
(Hypothecation) - 11.5% p.a Packing Credit -
upto 180 days - BPLR - 4.0% i.e. 7.5%
; beyond 180 days and 270 days - 11.5% FOBP/FOUBP/FOUBNLC/FOBNLC
- upto 90 days, BPLR - 4% i.e. 7.5%
p.a; upto 180 days, BPLR - 0.25% i.e. 11.25% p.a FLC/ILC (DA/DP) - commission for FLC - 0.25%; ILC -
as per Banker's H.O. Guidelines Terms of
Repayment Credit Limit
Extended By The Bank Is In The Nature Of Working Capital And Payable On
Demand By The Company Margin Cash Credit
(Hypothecation) - 25% Packing Credit -
25% Fobp/Foubp/Foubnlc/Fobnlc
- Nil Documentary
Foreign/Inland Letter Of Credit (Da/Dp) - Nil Extent and Operation
of the charge The Due Repayment
And Discharge Of Working Capital Facilities Aggregating To Rs.875 Lakhs By
The Company To Punjab National Bank Are Secured By - 1. First
Paripassu Charge On All Current Assets Such As Raw Materials, Stock -In-Process Finished
Goods, Receivables, Stores And Spares Both Present And Future. 2. Second
Paripassu Charge On Movable Fixed Assets, Present And Future. |
|
Short particulars
of the property charged |
Raw
Materials, Stock In Process, Finished
Goods, Receivables, Stores And Spares And Other Current Assets, Movable Fixed
Assets Situated In The Premises/ Godown Of The Company As Mentioned In The
Instruments Of Hypothecation Dated 7.12.2006 As Attached Hereto. |
|
Date of latest
modification prior to the present modification |
23/10/2003 |
|
Particulars of
the present modification |
He Aggregate Of
Working Capital Credit Facilities Is Reduced From Rs.90.000 Millions To
Rs.66.000 Millions And The Hypothecation Charge Is To Cover The Same |
AS PER WEBSITE
Subject is a fast emerging leader in the field
of quality testing and on-line monitoring and services for the textile industry
worldwide. Premier has a strong focus on Research and Development and works
with several leading edge technologies to offer technologically superior
products to its customers.
Subject is a part of the $ 210Mn
Premier Mills group,
Subject provides a complete
range of solutions for the textile industry to improve Quality and Productivity, focusing on the following distinct areas
of manufacturing:
·
Fiber Testing Equipment
·
Yarn Testing Equipment
·
Yarn Clearing Systems
·
On-Line Quality and Production
Monitoring Systems For Spinning & Weaving
·
Mill Management Solution
Subject
has established a worldwide sales and service network in more than 45
countries, which includes Latin
America, Europe, Africa and
With
world-class quality standards and user-friendly features in the products,
supported by a competent and responsive service team, Premier's products have gained
worldwide market acceptance. The technologically advanced products and services
will also now be available in new business areas of machine vision systems, Security and Identification systems and
similar technology oriented areas.
Subject,
foray in the field of Machine Vision Systems is born out of the understanding
of the exacting needs of various Process Industries such as Pharmaceuticals,
Food & Beverage, Automotive Components and Engineering to name a few.
News
Premier unveils a
suite of new products and solutions at ITMA
Premier Evolvics, a leading global manufacturer of quality and process testing, monitoring and analyzing equipment, launched a range of products and solutions at the ITMA Munich, 2007. Located in the hall A4, stall 151/256, the stall attracted a lot of worldwide customers.
Speaking at the occasion, Mr. Sridhar Varadaraj, Managing Director, said “Intelligence is the core of our offering. Our corporate philosophy integrates the trilogy of intelligent technology, intelligent solutions and intelligent support in bringing about the spinning industry’s most comprehensive range of quality and process testing, monitoring and analyzing instruments.
New suite of intelligent products
The product suite on display included a new and improved ART (High Volume Fibre
Tester) with a full function Gravimetric Trash option. The new features in the
ART include a moisture corrected strength measurement, a built-in RH sensor,
engineering calibration using metal plugs for the automated microniare module
and an improved front end report format. The Gravimetric Trash is functionally
integrated with the ART central processor. It eliminates the need for multiple
passes and has an auto trash collection and weighment. This results in a fast,
precise and user friendly measurement.
The aQura NL has been upgraded with a host of software features like the Nep difference, percentage, relative short fibre content (RSFC), length difference percentage, combing optimization index, process chart and trend and comparison reports for Neps and Length measurement.
The new series of contamination detectors under the Xeni platform: Xeni 2 and Xeni F complement each other for a complete solution for contamination detection in the blow room. The Xeni 2 employs no “deaf zone” ultrasonic sensors for detecting white PP and a CCD array and its associated high speed image processing to detect contaminants of all types and sizes. The Xeni F is optimized for input of the blow room to optimally detect large sized contaminants.
The Texpert ERP system is now available in a modular configuration and the users can pick any module among the 11 technical and commercial modules available. This reduces the implementation time and phases out the investment for the mill.
Intelligent solutions
A new parameter, redefining the way the yarn hairiness can be measured, is now
available. Hair Severity is a new parameter which reflects the seriousness of
the longer hair in spinning, weaving and knitting. A guidebook containing
applications, statistics and technology information is now available.
The Premier productivity standard 2007 is a first of its kind of global compilation. It provides an easy to use information on the best levels achieved by mills worldwide with respect to parameters like GR/SH, AEF, EBR, EM etc. Mills can benchmark their performance against the data compiled from 3.5 Million spindles working with Premier Ring i. eNeps is yet another innovative expert tool introduced by Premier. It enables the spinner to predict the yarn neps based on the neps in the Finisher draw frame silver. This is an asset to the mill in optimizing their process parameters.
Intelligent support
With the launch of Dr.Q- the service over the internet program, Premier is on
the way of rewriting the way the customer service is rendered in the industry.
The service available for Premier Laboratory equipments enables a high
equipment uptime and is backed up by a centralized Dr. Q resource cell which
helps the customers to solve the equipment problems from a remote login.
Concluding the address, Mr. Varadaraj said “At Premier,
technology is interwoven into everyday solutions and is ably supported by an
industry defining customer support program. The Intelligence quotient in our
products and services bear the testimony to the same”
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.45.70 |
|
|
1 |
Rs.72.78 |
|
Euro |
1 |
Rs.61.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
72 |
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.