MIRA
INFORM REPORT
|
Report Date : |
20.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
TEMA INDIA LIMITED (w.e.f. 26.10.1999) |
|
|
|
|
Formerly Known
As : |
TEMA EXCHANGER MANUFACTURERS PRIVATE IMITED |
|
|
|
|
Registered
Office : |
B – 607, |
|
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|
|
Country : |
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|
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|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
21.12.1984 |
|
|
|
|
Com. Reg. No.: |
11-034861 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.35.633
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29192MH1984PLC034861 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT01057A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT1735C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer, Exporter and Importer of Shell and Tube Heat
Exchangers. |
|
|
|
|
No. of Employees
: |
Approximately 850 (Office + Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 5500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Clear |
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|
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|
Comments : |
Subject is a well established and reputed company having satisfactory track.
Directors are reported as and experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Vinod Narvekar |
|
Designation : |
Finance Manager |
LOCATIONS
|
Registered /
Head Office : |
B – 607, |
|
Tel. No.: |
91-22-67124521-32/ 66900100 |
|
Fax No.: |
91-22-67124533-34 |
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E-Mail : |
|
|
Website : |
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|
Area : |
7000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office
1 : |
B-205, Arjun Centre, |
|
Tel. No.: |
91-22-25974583 / 84 / 25567438 |
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Fax No.: |
91-22-25560572 |
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E-Mail : |
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|
Website : |
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|
Location : |
Rented |
|
|
|
|
Corporate Office
2 : |
9, Tulsiani Chamber, Free Press Journal Road, Nariman Point,
Mumbai-400021, Maharashtra, India |
|
Tel. No.: |
91-22-22822328 |
|
Fax No.: |
91-22-22823512 |
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E-Mail : |
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|
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|
|
Factory 1/ Workshop 1 : |
|
|
Tel. No.: |
91-2521-230061/ 230122 |
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Fax No.: |
91-2521-230010/ 098241/ 70066 |
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Email: |
|
|
Location : |
Owned |
|
|
|
|
Factory 2/ Workshop 2 : |
No.20/1/2, |
|
Tel. No.: |
91-260-2677344 |
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Fax No.: |
91-260-2677348 |
|
Email: |
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|
Location : |
Owned |
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|
|
|
Factory 3 : |
Plot No.667, Road No.6, G.I.D.C Estate, Panoli – 394116 Ankleshwar,
Dist: Bharuch, |
|
Tel. No.: |
91-2646-272319/ 272085/ 272227 |
|
Fax No.: |
91-260-2677344 |
|
Email: |
|
|
Location : |
Owned |
|
|
|
|
|
|
|
Tel No.: |
(713) 729-6181/ 660-6740 |
|
Fax No.: |
(832) 476-636/ 476-6364 |
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E Mail: |
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|
|
|
|
Representative
Office: |
Located
At: |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Haresh Khushiram Sippy |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
10, |
|
Date of
Birth/Age : |
19.08.1946 |
|
Qualification : |
B. E. |
|
Date of
Appointment : |
21.12.1984 |
|
DIN No.: |
01593589 |
|
|
|
|
Name : |
Mr. Chetan Suman Doshi |
|
Designation : |
Whole Time Director
|
|
Address : |
7, |
|
Date of
Birth/Age : |
07.12.1953 |
|
Qualification : |
B. Tech. |
|
Date of
Appointment : |
21.12.1984 |
|
DIN No.: |
01213835 |
|
|
|
|
Name : |
Mr. Steven Mark Enderby |
|
Designation : |
Director |
|
Address : |
No. 11, Golf Links, |
|
Date of
Birth/Age : |
22.07.1962 |
|
Qualification : |
|
|
Date of Appointment : |
28.05.2005 |
|
DIN No.: |
00171101 |
|
|
|
|
Name : |
Mr. Girija Shankar Tripathy |
|
Designation : |
Director |
|
Address : |
H No.4091, Block C 4, Vasant Kunj, |
|
Date of
Birth/Age : |
07.12.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
09.06.2006 |
|
DIN No.: |
01199201 |
|
|
|
|
Name : |
Mr. Akhil Haresh Sippy |
|
Designation : |
Whole Time Director |
|
Address : |
10, |
|
Date of
Birth/Age : |
04.12.1981 |
|
Qualification : |
B. E. |
|
Date of Appointment : |
01.04.2007 |
|
DIN No.: |
01627490 |
|
|
|
|
Name : |
Mr. Bharat Dhirajlal Gandhi |
|
Designation : |
Director |
|
Address : |
602, B Wing, Emerald Court Co-Operative Housing Society
Limited, Regent H, Andheri (East), R.K. Mandir Road, Kondivita Lane Behind,
Mumbai – 400 059, Maharashtra, India |
|
Date of
Birth/Age : |
01.02.1954 |
|
Date of Appointment : |
12.11.2009 |
|
DIN No.: |
02822701 |
KEY EXECUTIVES
|
Name : |
Mr. Natwarlal Mehta |
|
Designation : |
Secretary |
|
Address : |
22, |
|
Date of Birth/Age : |
24.04.1960 |
|
Date of Appointment : |
15.10.2005 |
|
|
|
|
Name : |
Mr. Vinod Narvekar |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Haresh Khushiram Sippy |
|
1270100 |
|
Chetan
Suman Doshi |
|
817300 |
|
Reenu
Haresh Sippy |
|
20700 |
|
Asha
Chetan Doshi |
|
49200 |
|
Sulachani
Khushiram Sippy |
|
200 |
|
Suman
Ramji Doshi |
|
1200 |
|
Ramaben
S. Doshi |
|
400 |
|
Suman
R. Doshi |
|
121000 |
|
Chetan
S. Doshi (HUF) |
|
100 |
|
Akhil
Haresh Sippy |
|
100 |
|
Haresh
K. Sippy (HUF) |
|
18000 |
|
Actis
Tema Holdings Limited, |
|
200 |
|
Actis
Tema Holdings Limited, |
|
1264756 |
|
|
|
|
|
Total |
|
3563256 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
35.50 |
|
Directors
or relatives of directors |
|
64.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Shell and Tube Heat
Exchangers. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
|
Achhad |
MT |
5000 |
|
Silvassa |
MT |
4750 |
|
Panoli |
MT |
500 |
|
Particular |
Actual
Production |
|
Achhad Unit |
|
|
Heat Exchangers |
1511.83 MT |
|
Silvassa Unit |
|
|
Heat Exchangers |
2334.53 MT |
|
Panoli Unit |
|
|
Heat Exchangers |
1082.78 MT |
GENERAL INFORMATION
|
No. of Employees : |
Approximately 850 (Office + Factory) |
|
|
|
|
Bankers : |
v
ICICI
Bank, Nariman Point, Mumbai, v
Bank
of v
Bank
of India, Andheri Corporate Banking Branch, MDI Building, 1st Floor,
28 S V Road, Andheri (West), Mumbai – 400 058, Maharashtra, India v
ING
Vysya Bank Limited, Patel Chambers, Opera House, Mumbai – 400 007, v
State
Bank of v
Barclays
Bank, Worli Branch, 801/808, Ceejay House, Shivsagar Estate, Dr. Annie Besant
Road, Worli, Mumbai – 400 018, Maharashtra, India v
State
Bank of v
Standard
Chartered Bank, v
Punjab National Bank, Brady House, |
|
Financial Institution: |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade,
Colaba, Mumbai-400005, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloittee Haskins and Sells Chartered Accountant |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000/ 66679116 |
|
Fax No.: |
91-22-66679100 |
|
Pan No. : |
AACFD4815A |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3744756 |
Equity Shares |
Rs.10/- each |
Rs.37.447 Millions |
|
48755244 |
Preferences Shares |
Rs.10/- each |
Rs.487.552 Millions |
|
|
Total |
|
Rs.525.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3563256 |
Equity Shares |
Rs.10/- each |
Rs.35.633
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
35.633 |
35.633 |
35.633 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1342.087 |
1154.793 |
1054.313 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1377.720 |
1190.426 |
1089.946 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
774.116 |
1059.365 |
495.631 |
|
|
2] Unsecured Loans |
118.857 |
19.792 |
19.961 |
|
|
TOTAL BORROWING |
892.973 |
1079.157 |
515.592 |
|
|
DEFERRED TAX LIABILITIES |
39.545 |
39.334 |
37.587 |
|
|
|
|
|
|
|
|
TOTAL |
2310.238 |
2308.917 |
1643.125 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
816.166 |
711.601 |
660.004 |
|
|
Capital work-in-progress |
242.327 |
264.760 |
197.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.501 |
0.501 |
0.501 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
963.083
|
1207.797 |
437.874
|
|
|
Sundry Debtors |
792.749
|
1031.441
|
758.737
|
|
|
Cash & Bank Balances |
162.845
|
57.190
|
4.274
|
|
|
Other Current Assets |
0.582
|
0.466
|
0.088
|
|
|
Loans & Advances |
143.120
|
202.950
|
109.610
|
|
Total
Current Assets |
2062.379
|
2499.844
|
1310.583
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
443.441
|
725.430 |
388.666 |
|
|
Other Current Liabilities |
236.454
|
341.323
|
79.678
|
|
|
Provisions |
131.240
|
101.036
|
56.719
|
|
Total
Current Liabilities |
811.135
|
1167.789
|
525.063
|
|
|
Net Current Assets |
1251.244
|
1332.055
|
785.520
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2310.238 |
2308.917 |
1643.125 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1621.743 |
1592.283 |
|
|
|
Other Income |
|
34.838 |
11.087 |
|
|
|
TOTAL (A) |
2143.900 (Gross
|
1656.581 |
1603.370 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw materials and components consumed |
|
1207.696 |
618.746 |
|
|
|
Employees’ remuneration and benefits |
NA |
139.031 |
88.823 |
|
|
|
Operating and other expenses |
|
344.869 |
243.810 |
|
|
|
(Increase)/ Decrease in stock of work in process |
|
(434.142) |
255.394 |
|
|
|
Capitalized |
|
0.000 |
(9.936) |
|
|
|
TOTAL (B) |
NA |
1257.454 |
1196.837 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
519.300 |
399.127 |
406.533 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
143.400 |
125.764 |
79.087 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
375.900 |
273.363 |
327.446 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
76.000 |
71.315 |
59.807 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
299.900 |
202.048 |
267.639 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
104.500 |
79.883 |
79.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
195.400 |
122.165 |
187.983 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
475.700 |
386.615 |
238.276 |
|
|
|
PRIOR
PERIOD ADJUSTMENTS |
14.300 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
21.000 |
12.216 |
18.800 |
|
|
|
Proposed Dividend on Equity Shares |
17.800 |
17.816 |
17.816 |
|
|
|
Corporate Dividend Tax |
3.000 |
3.028 |
3.028 |
|
|
BALANCE CARRIED
TO THE B/S |
643.600 |
475.720 |
386.615 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB Basis |
214.687 |
0.266 |
330.451 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Components |
391.760 |
736.530 |
271.506 |
|
|
|
Stores, Spares & Tools |
42.336 |
71.466 |
12.156 |
|
|
|
Plant and Machinery |
46.970 |
66.708 |
1.721 |
|
|
|
Computer Software |
0.071 |
0.000 |
0.187 |
|
|
|
Technical know – how |
0.000 |
0.970 |
0.000 |
|
|
TOTAL IMPORTS |
481.137 |
875.674 |
285.570 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
54.85 |
34.28 |
53.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
7.37
|
11.72
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
12.45
|
16.81
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.42
|
6.29
|
13.67
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.17
|
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.23
|
1.89
|
0.94
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54
|
2.14
|
2.53
|
LOCAL AGENCY FURTHER INFORMATION
Note: The registered
office of the company has been shifted from B 602,
BUSINESS
PERFORMANCE:
Gross turnover amounted to Rs.2143.900 millions, increased by 20%
compared to that of previous year and the gross profit increased by 30% and
amounted to Rs.519.300 millions, compared to Rs.399.100 millions after meeting
all the expenses. The interest amounted to Rs.143.400 millions and depreciation
Rs.76.000 millions during the year. The profit before tax jumped by 50% and
amounted to Rs.299.900 millions compared to Rs.202.000 millions in the previous
year. The net profit after making provision for current tax of Rs.107.500
millions (Including interest of Rs.10.000 millions adding prior years provision
of Rs.3.200 millions and deferred tax of Rs.0.200 million) amounted to
Rs.195.400 millions, against Rs.122.100 millions in the previous year a
phenomenal jump of 60%.
The result of the company during the year was very encouraging. The
meltdown in the economy during the previous year affected our working
seriously. It taught us a lesson of how to overcome the hurdles and come out
with encouraging results. The economy showed signs of recovery and growth and
achieved of growth of about 7% in the year 2009-10. Increase in turnover
coupied with reduction in expenses wherever possible have contributed to the
better financial performance during the year.
There was increase in the various expenses, like cost of raw material,
employees remuneration and benefits operating and other expenses, interest,
charges, however, increase in the turnover has more than nullified increase in
the expenses which resulted in excellent results. The provision for taxation
increased by about 25% as provided in the previous year as profit before tax
has gone up. The company has to made interest payment of Rs.10.000 millions to
the IT Authorities for delay in payment of advance tax.
During the year the company successfully executed major orders of large
domestic public and private sector companies like EIL, CPCL, BPCL, etc, and in
the export front, dynamic fuel due to hard work put in by the management in the
previous difficult year, the company consolidated its position in all the
segments in which it operates. However, the major external hurdles faced by the
company were, non availability on time some raw materials, power cuts, changes
in the technical specifications as set by the customers, etc, which resulted in
disruption of production cycle, due to which several jobs were not completed on
schedule.
As on 31.08.2010, the company had a order book or Rs.2720.000 millions.
The company was awarded the ISO 9000:2008 certification for its factory at
Achnad and HO.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10261870 |
|
Corporate
identity number of the company |
U29192MH1984PLC034861 |
|
Name of the
company |
TEMA INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
B – 607, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Any Interest in
Immovable Property Immovable
Property Others (Stock of
RM, FG, Semi Finished and Stocks in Process) |
|
Particular of
charge holder |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade,
Colaba, Mumbai-400005, Maharashtra, India |
|
Email |
|
|
Nature of description
of the instrument creating or modifying the charge |
No fresh limit
has been added. The Company's moveable / immovable assets situated at plot
no. 20/1/2, Village Kherdi (Silvassa), U. T. of Dadra and Nagar Haveli, has
been extended as security to secure the existing facilities. Thus the
original Facility amount remains the same at Rs. 2737.700 Millions. |
|
Date of
instrument Creating the charge |
30.03.2011 |
|
Amount secured by
the charge |
Rs.2737.700
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
the Lenders from time to time. Terms of
Repayment As stipulated by
the Lenders from time to time. Margin As stipulated by the
Lenders from time to time. Extent and
Operation of the charge The existing
facilities shall also be secured against the Company's moveable / immovable
assets situated at plot no. 20/1/2, Village Kherdi (Silvassa), U. T. of Dadra
and Nagar Haveli, in addition to the
properties already mortgaged / hypothecated as original facilities were
secured. |
|
Short particulars
of the property charged |
I)
The
existing facilities shall also be secured against the Company's moveable /
immovable assets situated at plot no. 20/1/2, Village Kherdi (Silvassa), U.
T. of Dadra and Nagar Haveli, in
addition to II)
The
properties already mortgaged / hypothecated as original facilities were
secured. |
|
Particulars of
the present modification |
The existing
facilities shall also be secured against the Company's moveable / immovable
assets situated at plot no. 20/1/2, Village Kherdi (Silvassa), U. T. of Dadra
and Nagar Haveli, in addition to the
properties already mortgaged / hypothecated as original facilities were
secured. Total Facilities granted by all lenders to the Company remain the
same i.e. at Rs. 2737.700 Millions. |
FIXED ASSETS
v
Goodwill
v
Technical know How
v
Computer Software
v
v
v
v
Office Buildings
v
Ownership Flat
v
Plant and Machinery
v
Electrical Installation
v
Furniture and Fixtures
v
Office Equipments
v
Computers
v
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
|
|
1 |
Rs.71.62 |
|
Euro |
1 |
Rs.62.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
61 |
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.