MIRA
INFORM REPORT
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Report Date : |
23.07.2011 |
IDENTIFICATION DETAILS
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Name : |
AMARA RAJA ELECTRONICS LIMITED [w.e.f. 23.02.2009] |
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Formerly Known As : |
AMARA RAJA ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
Renigunta - |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
09.08.1999 |
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Com. Reg. No.: |
01-032257 |
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Capital Investment
/ Paid-up Capital : |
Rs.92.050 Millions |
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CIN No.: [Company
Identification No.] |
U31402AP1999PLC032257 |
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IEC No.: |
0904006913 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA02630F |
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VAT / TIN : |
33811121936 |
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PAN No.: [Permanent
Account No.] |
AAECA2774J |
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Legal Form : |
A closely held a Public limited liability company. |
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Line of Business : |
Manufacturer of Consumer Power Solution. |
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No. of Employees
: |
400 (In Office 100 + In Factory 300) Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 568000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established
company having moderate track. There appears some
losses being incurred by the company in the current year i.e. 2009-10.
however, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered
for small to mediocre 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Kalyan |
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Designation : |
Marketing |
LOCATIONS
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Registered Office : |
Renigunta - |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
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Tel. No.: |
91-8573-283636 |
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Corporate Office : |
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Tel. No.: |
91-44-28213270 / 42910700 / 42910740 |
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Fax No.: |
91-44-28284821 |
DIRECTORS
As on 13.09.2010
|
Name : |
Mr. Ramachandra Naidu Galla |
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Designation : |
Director |
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Address : |
Renigunta - |
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Date of Birth/Age : |
01.06.1938 |
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Date of Appointment : |
09.08.1999 |
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DIN : |
00133761 |
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Name : |
Mr. Jayadev Galla |
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Designation : |
Director |
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Address : |
Renigunta - |
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Date of Birth/Age : |
24.03.1966 |
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Date of Appointment : |
07.06.2007 |
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DIN : |
00143610 |
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Name : |
Ms. Ramadevi Gourineni |
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Designation : |
Director |
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Address : |
3420, |
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Date of Birth/Age : |
22.09.1964 |
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Date of Appointment : |
31.10.2000 |
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DIN : |
01347211 |
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Name : |
Mr. Rajeev Karwal |
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Designation : |
Director |
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Address : |
1410A, |
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Date of Birth/Age : |
11.04.1963 |
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Date of Appointment : |
19.06.2009 |
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DIN : |
01234017 |
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Name : |
Mr. Adiseshaiah Chowdary Jakkampudi |
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Designation : |
Additional Director |
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Address : |
A-60, A.P. Text Book Press Colony, Gunrock Enclave, Kharkhana,
Hyderabad – 500003, Andhra Pradesh, India |
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Date of Birth/Age : |
18.02.1955 |
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Date of Appointment : |
09.03.2010 |
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DIN : |
01109704 |
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Name : |
Ms. Gourineni Vikramadithya |
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Designation : |
Alternate Director |
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Address : |
Diguwamagham Aragonda, Chittoor – 517129, |
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Date of Birth/Age : |
24.11.1989 |
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Date of Appointment : |
21.06.2010 |
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Date of Cessation : |
15.12.2010 |
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DIN : |
01367659 |
KEY EXECUTIVES
|
Name : |
Mr. Kalyan |
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Designation : |
Marketing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.09.2010
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Names of Shareholders |
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No. of Shares |
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Dr. Ramadevi G |
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100000 |
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Mr. Ramachandra Naidu Galla |
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6150100 |
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Ms. Amara Kumari Galla |
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1579800 |
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Mr. Jayadev Galla |
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100100 |
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Mr. Harshavardhana |
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310000 |
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Mr. Vikramaditya |
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310000 |
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Master Siddharth Galla |
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310000 |
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Master Ashok Galla |
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310000 |
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Mr. Ravindra Naidu |
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10000 |
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Mrs. M. Latha |
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10000 |
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Mr. Sudhakar Naidu |
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5000 |
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Mr. W Prabhakar Naidu |
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5000 |
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Mr. W Vadrararajulu Naidu |
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5000 |
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Total |
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9205000 |
AS ON 24.05.2011
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Names of Allottees |
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No. of Shares
Allotted |
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Mr. Ramachandra Naidu Galla |
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2500000 |
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AS ON 13.09.2010
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Category |
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Percentage |
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Directors or relatives of directors |
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99.62 |
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Other top fifty shareholders |
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0.38 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Consumer Power Solution. |
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Products : |
Item Code (ITC
Code) |
Product
Description |
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850440.90 |
UPS |
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850440.30 |
Auto |
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850440.90 |
Converters |
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940540.90 |
LED Lantern |
PRODUCTION STATUS AS On 31.03.2010
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Nos. |
5000 |
1534 |
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DC/DC Converters |
Nos. |
25000 |
13458 |
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Railway Inverters |
Nos. |
3000 |
-- |
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IPS Inverters |
Nos. |
-- |
2132 |
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SMR’s |
Nos. |
20000 |
7634 |
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UPS |
Nos. |
200000 |
103761 |
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LED Lantern |
Nos. |
-- |
622 |
GENERAL INFORMATION
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No. of Employees : |
400 (In Office 100 and In Factory 300) Approximately |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
E. Phalguna Kumar and Company Chartered Accountant |
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Address : |
599/2, Balaji Colony, Tirupati – 517520, |
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Pan No.: |
AADSE1485A |
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Sister Concern : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10,000,000 |
Equity Share |
Rs.10/- Each |
Rs.100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9,205,000 |
Equity Share |
Rs.10/- Each |
Rs.92.050
Millions |
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AS ON 24.05.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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14,000,000 |
Equity Share |
Rs.10/- Each |
Rs.140.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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11,705,000 |
Equity Share |
Rs.10/- Each |
Rs.117.050
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
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 |
92.050 |
11.050 |
4.050 |
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2] Share Application Money |
0.000 |
20.000 |
7.000 |
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3] Reserves & Surplus |
49.984 |
56.740 |
26.389 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
142.034 |
87.790 |
37.439 |
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LOAN FUNDS |
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1] Secured Loans |
251.346 |
155.976 |
60.512 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
251.346 |
155.976 |
60.512 |
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DEFERRED TAX LIABILITIES |
0.000 |
3.288 |
3.411 |
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TOTAL |
393.380 |
247.054 |
101.362 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
50.721 |
38.485 |
32.983 |
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Capital work-in-progress |
241.482 |
84.263 |
3.749 |
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INVESTMENT |
0.045 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.114 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
164.108
|
126.816
|
49.634 |
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Sundry Debtors |
77.990
|
162.278
|
93.795 |
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Cash & Bank Balances |
2.092
|
4.550
|
6.878 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
75.616
|
45.774
|
13.483 |
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Total
Current Assets |
319.806
|
339.418
|
163.790 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Current Liabilities |
20.881
|
15.067
|
10.699 |
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Sundry Creditors |
160.390
|
168.746
|
80.271 |
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Provisions |
37.517
|
31.299
|
8.190 |
|
Total
Current Liabilities |
218.788
|
215.112
|
99.160 |
|
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Net Current Assets |
101.018
|
124.306
|
64.630 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
393.380 |
247.054 |
101.362 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
769.093 |
734.143 |
230.600 |
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Service Revenue |
0.000 |
0.000 |
19.395 |
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Other Income |
1.056 |
0.885 |
1.198 |
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|
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TOTAL (A) |
770.149 |
735.028 |
251.193 |
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Less |
EXPENSES |
|
|
|
|
|
|
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Material Consumed |
550.107 |
509.184 |
167.263 |
|
|
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Payments and benefit to employees |
73.310 |
50.898 |
24.306 |
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|
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Manufacturing Expenses |
5.877 |
5.122 |
2.857 |
|
|
|
Selling Expenses |
92.548 |
77.927 |
24.910 |
|
|
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Administrative Expenses |
35.042 |
35.331 |
8.793 |
|
|
|
Other Expenses |
3.059 |
2.983 |
0.076 |
|
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|
Taxes and Duties |
0.000 |
0.000 |
0.091 |
|
|
|
Increase / Decrease in Stock |
6.509 |
[5.423] |
[6.091] |
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|
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TOTAL (B) |
766.452 |
676.022 |
221.905 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.697 |
59.006 |
29.288 |
|
|
|
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|
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Less |
FINANCIAL EXPENSES (D) |
10.908 |
8.275 |
5.180 |
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|
|
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[7.211] |
50.731 |
24.108 |
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|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.947 |
2.527 |
1.999 |
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|
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PROFIT BEFORE
TAX (E-F) (G) |
[10.158] |
48.204 |
22.109 |
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Less |
TAX (I) |
3.402 |
17.494 |
7.123 |
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PROFIT AFTER TAX
(G-I) (J) |
[6.756] |
30.710 |
14.986 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
56.029 |
25.319 |
10.333 |
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|
|
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BALANCE CARRIED
TO THE B/S |
49.273 |
56.029 |
25.319 |
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
3.943 |
2.122 |
0.000 |
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|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
[2.44] |
9.89 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
[0.88] |
4.18 |
5.97 |
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Net Profit Margin (PBT/Sales) |
(%) |
[1.32] |
6.57 |
9.59 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
[2.74] |
12.76 |
11.24 |
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Return on Investment (ROI) (PBT/Networth) |
|
[0.07] |
0.55 |
0.59 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.31 |
4.23 |
4.26 |
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Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.58 |
1.65 |
LOCAL AGENCY FURTHER INFORMATION
Performance
During the year, the Company recorded net
revenues (excluding other income) of Rs.769.093 millions as compared to Rs. 734.144 millions recorded during the previous financial year. The Company
suffered loss of Rs.10.158 millions at the Profit before Tax (PBT) level as compared to Profit before Tax (PBT) of Rs.48.203 millions. The net loss after tax was Rs.6.756 millions for the year 2009-10 as against net profit of Rs.30.709 millions in the previous year. The increase in manufacturing and
selling overheads and increase in finance charges contributed to the loss for
the financial year.
The Company's product reach has now spread to
17 states in
During the year Company has launched its
umbrella brand - 'Tribal"; for its Consumer Electronics range of products.
Tribal stands for youthfulness, exuberance, and a pioneering spirit. Tribal
leverages convergence of technology and futuristic design, keeping in mind the
needs and wants of modern day living. Tribal believes in improving the quality
of life by offering innovative products for the home. The Company also unveiled
its first innovative product offering - Tribal Italia pure sine wave UPS, which
is stylishly designed, incorporating advanced technology. This is a product
that is symbolic of our entry into the "consumer durables" category.
The Company also launched its new portal
viz., world of tribal" during the year 2009-10. The portal is a social
media initiative for the Tribal brand it is designed to acl as an e-commerce
gateway and will also have an Amara Raja Group community, channel partner
community and the community at large. This portal will be the primary platform
to "join the tribe", which is the brand tag line.
Outlook
The Company has drawn up aggressive growth
plans and to achieve the same it has organized itself into four focused
divisions viz., Consumer Power Solution (CPS), Electronic Manufacturing
Services and Components (EMS), Consumer Durables -Appliances, Durables and
Electronics (CDD) and Telecom Products (TPD).Plans are afoot to actualize the "Consumer Durables" and "Telecom
Products" businesses while growing the "Consumer Power
Solutions" and "EMS" divisions. Product and process design capabilities are being fortified
with addition of crucial resources in the technical team. Manufacturing and
sourcing operations are now geared up to meet the enhanced UPS demand and the
Contingent
Liability not provided for:
|
Particulars |
31.03.2010 (Rs. In Millions) |
31.03.2009 (Rs. In Millions) |
|
|
|
|
|
Counter Guarantees to bankers in respect of bank guarantees issued in favour of various constituents |
1.890 |
2.380 |
|
Sales Tax |
1.430 |
0.250 |
|
Total |
3.320 |
2.630 |
Bankers Charges
Report as per Registry
|
Name of the company |
AMARA RAJA ELECTRONICS LIMITED |
|
Presented By |
Mr. Ramachandra
N. Gala, Director |
|
1) Date and description of instrument creating the change |
02.09.2000 Agreement of
Hypothecation of goods and assets |
|
2) Amount secured by the charge/amount owing on the securities of charge |
OCC Rs.10.000
millions Sub Limit – Ch/BP
Rs.2.000 millions Sub Limit – Book
debts – 60 days Rs.2.000 millions MTL Rs.8.200
millions Bank Guarantee
Rs.1.000 millions LC (Import /
Inland) Rs.3.000 millions |
|
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 |
Hypothecation of
Book debts, all moveable assets and machineries of the company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
16.5% (PLR+4) |
|
5) Name and Address and description of the person entitled to the charge. |
Indian Bank, |
|
6) Date and brief description of instrument modifying the charge |
30.07.2002 Letter from
Indian Bank confirming that the entire medium term loan of Rs.8.200 millions
(Sub limit book debts 60 days) has been repaid in full. |
|
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. |
With the
repayment of the term loan in full the amount secured by the charge stands
reduced as follows : OCC Rs.10.000
millions Sub Limit – Ch/BP
Rs.2.000 millions Sub Limit – Book
debts – 60 days Rs.2.000 millions Bank Guarantee
Rs.1.000 millions LC (Import /
Inland) Rs.3.000 millions |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10086978 |
|
Corporate
identity number of the company |
U31402AP1999PLC032257 |
|
Name of the
company |
AMARA RAJA ELECTRONICS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Renigunta - |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
State Bank of Branch Settipalli, E-mail : sa.06677@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
|
|
Date of
instrument Creating the charge |
02.02.2009 |
|
Amount secured by
the charge |
Rs.360.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest On cash credit
and term loan 12.25% per annum with monthly rests, subject to charge from
time to time. Terms of
Repayment Cash Credit :
Repayable on demand Term loan : Term
loan shall be repayable in 25 quarterly installments of Rs.11.000 millions
and the final 26th installment of Rs.10.000 millions, commencing
from 01.09.2009 Margin Raw materials,
stock in process and finished goods : 25% Book debts : 40% Letter of credit
and bank guarantee : 10% Term Loan : 25% Extent and
Operation of the charge This charge will
be treated as modified charge to the extent of Rs.360.000 millions and secured
by the following : First charge on
all current assets of the company and second charge on all fixed assets of
the company ranking pari passu with Indian Bank for working capital limits. Second charge on
all fixed assets of the company and second charge on all current assets of
the company ranking pari passu with Indian Bank for Term Loan of Rs.285.000
millions (New) |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U31402AP1999PLC032257 |
|
Name of the company
|
AMARA RAJA ELECTRONICS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Renigunta -
Cuddapah Roadkarakambadi, Tirupati - 517520, |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10086978 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
1. Form C-5:
Letter Regarding The Grant Of Individual Limits Within The Overall Limit
Dated 24.12.2009. 2. Sbi Sanction
Letter |
|
Date of
instrument Creating the charge |
24.12.2009 |
|
Amount secured by
the charge |
Rs.360.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- On Cash Credit and Term Loan : At SBAR i.e. 11.75% p.a. with monthly rests, subject to change
from time to time. Terms of
Repayment – Repayment
schedule for term loan has been revised as follows: Period No. of
quarters Revised
installment from 01.09.2009-01.03.2010 3 1.000 millions 01.06.2010-01.03.2011 4 11.000 millions 01.06.2011-01.06.2015 18 12.500 millions 01.12.2015 1 13.000 millions Margin – Raw material,
stock in process and finished goods : 25% Book debts : 40% Letter of credit
and bank guarantee : 10% Term Loan : 25% Extent and
Operation of the charge - This charge will be treated as modified charge to
the extent of Rs. 360.000 millions and secured by the following ; 1. first charge
on all Current assets of the company and second charge on all fixed assets of
the company ranking pari passu with Indian bank for working capital limits. 2.first charge on
all fixed assets of the company and second charge on all current assets of
the company ranking pari passu with Indian bank for Term Loan of Rs. 285.000
millions (New) . |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Date of
instrument modifying the charge |
02.02.2009 |
|
Particulars of
the present modification |
By this modification
no change has been made in the overall limit of Rs. 360.000 millions and
except revised repayment schedule and interest rate, other terms and
conditions shall remain unaltered. |
Fixed Assets :
- Computers
- Land
- Building
- Furniture
- Office
Equipments
- Plant and
Machinery
- Vehicles
- Electrical
Installation
As per Website Details
Dr. Ramachandra N. Galla is the Patriarch of an illustrious business family of Andhra Pradesh, Gallas, who have established a name for themselves by successfully setting up Amara Raja Batteries. Born in 1938, Dr. Ramachandra Galla is an Electrical Engineer from S.V. University, Tirupati and has to his credit Masters degrees in Applied Electronics, Roorkee, India and Systems Sciences, Michigan State University, USA.
Dr. Galla started his career as an Electrical Engineer in US Steel Corporation,
USA moved on to Sargent and Lundy, USA as a Consulting Engineer for the
Designing of Nuclear and Coal Fired Power Plant. He initiated various projects
in these corporations and mastered the ropes of this competitive business in a
very short time. However, he soon discovered that his natural inclination was
serving his country and as a logical sequel he gravitated towards Chittoor his
native place in
In his capacity as the Chairman, Dr. Ramachandra Galla has promoted and
established the following companies from the conceptual stage which are now
well established and profit making:
- Amara Raja
Batteries Limited
- Amara Raja Power System
Limited
- Mangal Precisions
Products Limited
- Amara Raja Electronics
Limited
- Galla Foods Limited
- Amara Raja Infra
Private Limited
- Amaron Batteries
Private Limited
- Amara Raja Industrial
Services Private Limited
Dr Galla's finest hour as a businessman came in 1998 when he
was presented BEST ENTERPRENEUR OF THE YEAR 1998 ” – by Hyderabad Management
Association, Hyderabad. He has been bestowed with honorary doctorate degrees
from
He is passionate about a corporate’s responsibility to society as well as
championing eco-friendly business practices. Dr. Galla has established various
charitable trusts like Krishna Devaraya Educational and cultural association
(KECA), Rajanna Trust, Mangamma and Gangul Naidu Memorial Trust. He is dedicated
to rural development and improving the economic conditions of the farmers in
Chittoor District,
A committed family man with wife, two children and grand children, he loves
spending time with his family and participating in society development project.
Jayadev Galla (Jay) is the
Managing Director of Amara Raja Batteries Limited (ARBL), a leading
manufacturer of Advanced Lead Acid batteries for Industrial and Automotive
applications. ARBL is a joint venture between Amara Raja group and US based
Johnson Controls Inc. (JCI). JCI is a USD 35 billion conglomerate and the
global leader in building efficiency, automotive interior experience and
automotive power solutions. The company owns the brand name “Amaron” which is
the second largest selling automotive battery brand in
Achievements
- Spearheading ARBL’s automotive batteries (Amaron) venture
- Striking
a partnership with
- Winning
the prestigious Ford World Excellence Award in 2004 achieved by meeting
global delivery standards. ARBL is the 3rd supplier from
Profile :
Subject is a rapidly growing company in the field of Electronics Manufacturing Services (EMS), Engineering Design Services (EDS) Custom Magnetic Solutions (CMS) and Consumer Electronics.
Subject has its manufacturing facility in Chittor which is strategically
located between
The current facility is being expanded to about 15,000sq.m to meet the ever
increasing demands of Electronics Manufacturing Services. It has advanced
production lines comprising of
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.44.37 |
|
|
1 |
Rs.72.34 |
|
Euro |
1 |
Rs.63.87 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.