%20PRIVATE%20LIMITED%20-%20149235%2023-Jul-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
23.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEW HOLLAND FIAT (INDIA) PRIVATE LIMITED (w.e.f. 18.12.2008) |
|
|
|
|
Formerly Known
As : |
FIAT INDIA PRIVATE LIMITED IND AUTO LIMITED PAL COOPER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, Central Plaza, 166, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
23.11.1992 |
|
|
|
|
Com. Reg. No.: |
11-069675 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 12485.548 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29220MH1992PTC069675 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Agricultural and Construction Equipments. |
|
|
|
|
No. of Employees
: |
Not divulged by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 44000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Arvind Agarwal |
|
Designation : |
Account Manager |
|
Date : |
22.07.2011 |
LOCATIONS
|
Registered Office : |
303, Central Plaza, 166, |
|
Tel. No.: |
91-22-30007701-08 |
|
Fax No.: |
91-22-30007709 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office (Tractor Division) : |
Plot No. 09, Suite No. - 301 and
304, Copia Corporate Suite, Jasola District, Centre, New Delhi – 110 044,
India |
|
Tel No.: |
91-11- 46727100 |
|
Fax No.: |
91-11- 46727171 |
|
|
|
|
Administrative Office : |
Level No. 1, Ragus Trade Centre, Bandra Kurla Complex, Mumbai-400051, |
|
Tel. No.: |
91-22-40700436 |
|
|
|
|
Factory 1 : |
Tractor Division Plot No. 03, Udyog Kendra, Grater Noida – 201306, District
Gautam Budh Nagar, |
|
Tel. No.: |
91-120-3056000 |
|
Fax No.: |
91-120-3056989 |
|
|
|
|
Factory 2 : |
Parts Division Plot No. 3, Udyog Kendra, Greater Noida – 201306, District
Gautam Budhagar, |
|
Tel. No.: |
91-120-3056000 |
|
Fax No.: |
91-120-3056949 |
DIRECTORS
AS ON 21.02.2011
|
Name : |
Mr. Ezio Barra |
|
Designation : |
Director |
|
Address : |
Via Stazione 51/A, 10060 None, Torino |
|
Date of Birth/Age : |
18.12.1951 |
|
Date of Appointment : |
20.03.2008 |
|
DIN No.: |
00366867 |
|
|
|
|
Name : |
Mr. Mario Gasparri |
|
Designation : |
Managing Director |
|
Address : |
69, Friends Colony (West), New Delhi-110065, |
|
Date of Birth/Age : |
01.10.1960 |
|
Date of Appointment : |
10.10.2008 |
|
DIN No.: |
00468272 |
|
|
|
|
Name : |
Mr. Rakesh Malhotra |
|
Designation : |
Director |
|
Address : |
228, Bhera Enclave, Delhi-110087, |
|
Date of Birth/Age : |
06.04.1958 |
|
Date of Appointment : |
25.09.2008 |
|
DIN No.: |
00015911 |
|
|
|
|
Name : |
Mr. Stefano Pampalone |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
09.11.1967 |
|
Date of Appointment : |
14.09.2009 |
|
DIN No.: |
02784982 |
|
|
|
|
Name : |
Mr. Giovanni Sell |
|
Designation : |
Director Appointed in Casual Vacancy |
|
Address : |
SDA Pietra D Gallo 15, Pino Torinese, Torino-10025, Italy |
|
Date of Birth/Age : |
20.05.1952 |
|
Date of Appointment : |
07.02.2011 |
|
DIN No.: |
03192226 |
KEY EXECUTIVES
|
Name : |
Mr. Shubharanshu Shekhar Trivedy |
|
Designation : |
Secretary |
|
Address : |
C-3/211, Sector-31, Noida-201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
28.08.1973 |
|
Date of Appointment : |
28.05.2010 |
|
PAN No.: |
ACKPT3811A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.02.2011
|
Names of Shareholders |
No. of Shares |
|
Fiat Group Automobiles SPA (Class A), |
3799998 |
|
Fiat India Automobiles Private Limited (Class A), |
1 |
|
Sibille Alberto (Class A), |
1 |
|
CNH Asian Holding Limited NV (Class A), |
3645916 |
|
CNH Asian Holding Limited NV (Class B), |
116723086 |
|
Total
|
124169002 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Fiat Group Automobiles SPA, |
|
686472 |
|
Total |
|
686472 |
AS ON 21.02.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Agricultural And Construction Equipments. |
|
|
|
|
Products : |
v
Agricultural Tractors v
Harvesting Equipment v
Hay and Forge Equipment v
Supporting Attachment |
PRODUCTION STATUS AS ON 31.12.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Tractors |
Nos. |
-- |
30000 |
30740* |
Notes:
1. *Excludes 30 Tractors (P. Y. -8) Capitalized / Scrapped
2. Licenced capacities have not been given as Government of India has
delicensed these classes of goods.
GENERAL INFORMATION
|
No. of Employees : |
Not divulged by the management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
|
|
|
Holding company : |
·
Fiat Group Automobiles SpA ·
CNH Asian Holding Limited NV |
|
|
|
|
Ultimate Holding Company : |
·
Fiat SpA |
|
|
|
|
Fellow Subsidiaries : |
·
Automotive Lighting Polska Sp. z 0.0. ·
Fiat Automobile AG ·
Fiat Group Purchasing SRL ·
Fiat Partecipazioni India Private Limited ·
Magneti Marelli Do Brasil Industrial Camercio SA. ·
Sevel ·
Isvor Dealernet SRL ·
Nanjing Fiat ·
Fiat Sundaram Auto Finance Limited ·
CNH Global NV ·
Fiat Revi ·
CNH America LLC. ·
CNH Itaiia S.p.A ·
CNH U.K Limited. ·
Case Corporation Pty Limited ·
CNH Trade NV ·
Iveco S.p.A ·
Turk Traktors ve Ziraat ·
CNH Global NV ·
CNH Belgium Limited NV ·
New Hollalid Tracluls LLd. NV ·
CNH Services SRL ·
CNH Latin America Limited, Brazil. ·
CNH France SA ·
CNH International S.A ·
CNH Services (Thailand) Limited. ·
Fiat Group Automobiies, South Africa ·
Fiat Sepin 5.c.p.a ·
FPT Betim Fiat Automobiles ·
Fiat Powertrain Technologies Spa ·
CNH Australia PTY Limited. ·
CNH Argentina S.A. ·
CNH Burlington ·
CNH Burridge Operations ·
CNH Commercial S.A de C.V., Mexico ·
CNH Industrial S.A. de C.V., Mexico Iveco Latin
America Limited ·
Fiat Powertrain Technologis Sanghai R and D
Company Limited. |
CAPITAL STRUCTURE
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Class A Equity Shares |
Rs.100/- each |
Rs. 3000.000 Millions |
|
120000000 |
Class B Equity Shares |
Rs.100/- each |
Rs. 12000.000 millions |
|
50000000 |
9% Convertible Non Cumulative Redeemable Preference Shares |
Rs. 100/- each |
Rs. 5000.000 millions |
|
|
Total |
|
Rs. 20000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7445916 |
Class A Equity Shares |
Rs.100/- each |
Rs. 744.592
Millions |
|
116723086 |
Class B Equity Shares |
Rs.100/- each |
Rs.
11672.309 millions |
|
686472 |
9% Convertible Non Cumulative Redeemable Preference Shares |
Rs. 100/- each |
Rs. 68.647
millions |
|
|
Total |
|
Rs. 12485.548 millions |
Notes:
1. 3,799,999 (Previous year 3,799,999) Class A,
Equity Shares of Rs. 100 each fully paid are held by Fiat Group Automobiles S.p.A.,
the holding Company, and 1 (Previous year 1) Class A, Equity Share of Rs. 100
each by Fiat India Automobiles Private Limited.
2. During the year 2008, 3,645,916'Class A'
equity shares of Rs. 100 each and 116,723,086'Class B'equity shares of Rs. 100 each
were allotted to the CNH Asian Holding Limited NV (shareholders of the
erstwhile New Holland Tractors India Private Limited) aggregating Rs. 12036.900 millions towards
consideration for the merger with the Company.
3. 686,472 (Previous year, 686,472) 9% Convertible
Non-Cumulative Non-Participating Redeemable Preference Shares of Rs. 100 each
are held by Fiat Group Automobiles S.p.A, the holding company and are
convertible into 686,472 equity shares of Rs. 100 each at the option of Fiat
Group Automobiles S.p.A, the preference shareholder. Any preference shares
which remain unconverted into equity shares of Rs. 100 each are redeemable at
such time, as may be deemed fit by the Board of Directors, subject to a maximum
of twenty years from the date of issue together with a redemption premlum of
Rs. 5 per preference share.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 (9 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12485.548 |
12485.548 |
12485.548 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5831.322 |
5788.367 |
5788.367 |
|
|
4] (Accumulated Losses) |
(7293.484) |
(7220.997) |
(6870.050) |
|
|
NETWORTH |
11023.386 |
11052.918 |
11403.865 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
2774.634 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
2774.634 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11023.386 |
11052.918 |
14178.499 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4841.209 |
6607.855 |
7251.507 |
|
|
Capital work-in-progress |
488.663 |
150.556 |
1000.819 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2641.713
|
1591.095
|
1502.985
|
|
|
Sundry Debtors |
2479.138
|
1916.760
|
2532.649
|
|
|
Cash & Bank Balances |
3125.042
|
2272.356
|
344.822
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1185.418
|
1021.060
|
4211.030
|
|
Total
Current Assets |
9431.311
|
6801.271 |
8591.486 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3007.548
|
1919.928 |
2057.818 |
|
|
Other Current Liabilities |
474.666
|
358.839
|
392.946
|
|
|
Provisions |
255.583
|
227.997
|
214.549
|
|
Total
Current Liabilities |
3737.797
|
2506.764 |
2665.313 |
|
|
Net Current Assets |
5693.514
|
4294.507
|
5926.173
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11023.386 |
11052.918 |
14178.499 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 (9 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
10520.071 |
|
|
|
Other Income |
|
|
571.547 |
|
|
|
TOTAL (A) |
17189.000 |
11977.000 |
11091.618 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
|
6817.454 |
|
|
|
Purchases made for re-sale |
|
|
1258.054 |
|
|
|
Excise Duty |
|
|
0.000 |
|
|
|
Payment to and provision fort employees |
14954.000 |
9913.000 |
397.017 |
|
|
|
Operating and other expenses |
|
|
1149.975 |
|
|
|
Increase/ Decrease in stock |
|
|
215.068 |
|
|
|
TOTAL (B) |
14954.000 |
9913.000 |
9799.251 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2235.000 |
2064.000 |
1292.367 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
104.000 |
286.000 |
249.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2131.000 |
1778.000 |
1043.130 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
2201.000 |
2127.000 |
1573.762 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(70.000) |
(349.000) |
(530.632) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.000 |
2.000 |
12.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(72.000) |
(351.000) |
(543.352) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(7221.000) |
(6870.050) |
(6326.698) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(7293.000) |
(7221.000) |
(6870.050) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of Exports |
5546.578 |
3241.486 |
3799.667 |
|
|
|
Service Rendered |
25.775 |
25.103 |
65.298 |
|
|
TOTAL EARNINGS |
5572.353 |
3266.589 |
3864.965 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1990.662 |
997.004 |
1119.403 |
|
|
|
Traded Goods |
354.860 |
36.400 |
0.000 |
|
|
|
Capital Goods |
307.675 |
319.523 |
134.003 |
|
|
|
Others |
8.899 |
10.057 |
10.057 |
|
|
TOTAL IMPORTS |
2662.096 |
1362.984 |
1263.463 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.58) |
(2.83) |
(4.38) |
|
%20PRIVATE%20LIMITED%20-%20149235%2023-Jul-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20149235%2023-Jul-2011_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20149235%2023-Jul-2011_files/image005.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20149235%2023-Jul-2011_files/image006.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 (9 Months) |
|
PAT / Total Income |
(%) |
(0.42)
|
(2.93)
|
(4.90) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
(5.04) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.49)
|
(2.60)
|
(3.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
(0.03)
|
(0.05)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.34
|
0.23
|
0.47
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.52
|
2.71
|
3.29
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.12.2010 (Rs. in millions) |
31.12.2009 (Rs. in millions) |
31.12.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
i. Micro and
small enterprises |
- |
-- |
-- |
|
ii. Others |
3007.548 |
1919.928 |
2057.818 |
Note:
Registered office of the company has been shifted from Level No. 1, Ragus
Trade Centre, Bandra Kurla Complex, Mumbai-400051,
OPERATIONS AND
PERFORMANCE:
Car Business
The Company continues the business of selling cars - model Palio under
the exclusive distributor agreement with Tata Motors Limited through its dealer
network. Though, the Car industry showed a positive outlook during the year
after the start of recovery from recession in world economy, the sales of Palio
showed a downturn due to introduction of various new generation models by FIAL
and other manufacturers.
To support the after sale service, the company also continues the
business of model Palio's spare parts and accessories through distribution.
Tractor Business
The Indian Tractor industry touched an ever highest figure in 2010 and
crossed 5 Lac Mark in the year 20 I0 with a strong growth of 31% over year
2009. Subject in turn, exceeded thc Industry growth and posted a record growth
of 46.4%. Domestic volume grew by 29.5% and Exports, encouraged by global
recovery, grew by a whopping 161.6% as compared to Year 2009.
As a part of continuous improvement exercise, Dealer Network continued
to improve in the year 2010. The network was strengthened by covering unrepresented
territories and also realigning territories. 61 new dealers were added and
number of non-performing dealers were closed down in 2010. Network productivity
also increased by 29%.
Subject expanded its domestic product portfolio and is now present in
more than 90% of Industry domain. ln continuation of 2009, they have covered
the launch and establishment of NDL (35IIP lo 47111') series across India and
the response has been very encouraging and is as per the expectation. Also,
they have introduced 56 series Upgrade from Oct'10 to tap the specific
application like Tractor on Top Combine, Loader /Dozer.
They have made their strong presence in various sectors during the year
like Prestigious order of A22 Maintenance and Engineering Services Limited.
(biggest deal in tractors implements in any bio mass segment) - 105 tractors,
45 balers and 15 rakes, Co operative Farming in Punjab by supplying approx 300
tractors to various societies commanding more than 80 percent market share,
specially the presence is being made in Aviation Sector and Tea Gardens by
selling higher horse power machines to the customers engaged in these
industries.
They successfully complied to emission norms by introducing Trem3A
tractors in below 50HP from Oct 2010 and are getting ready for above 50HP from
April 201 I. Continuing the success of NDL, they are rigorously working on
introducing Medium Duty Driveline for 50HP to 90tIP segment and plan to roll it
out in future to enable farmer to take advantage of incoming new technologies
in farm mechanizations.
To support farm mechanization, we aggressively marketed Sugarcane
harvester, Showcased technical prowess of CNH by successful introduction of
8000 and 4000 series by achieving ever highest sales in India. The Company
increased its footprints in crop solution business also by selling ever highest
Balers, Rakes and Rotavators. To further expand the Crop solution Business,
they are continuously carrying out various field level activities like demo,
displays to enhance the brand visibility and demonstrate the economic benefit
of harvester by eatering to labor shortage problem.
Anticipating the continuation of agriculture growth and increasing
strength of New Holland Fiat (India) Pvt. Ltd. in India, we have already
aggressively initiated our expansion plans (Tractor production upto 54000
Units) which will be completed in the later part of second half of 2012.
Year 2010 also witnessed various challenges on account of Raw Material
Cost and availability due to considerable growth in demand in Automobile
industry.
Axle Business
During the year 2010 New Holland India Axle Plant has also started
Commercial production of 4 - Wheel Drive TLB Axles of Construction Equipment
for CNH Plants at Burlington and Lecce, Utility Light Axles to Turk Tractor and
'M Axles for internal consumption of our Tractor Plant at Greater Noida. A
total of 3045 TLB Axles were exported this year from Axle Plant.
FIXED ASSETS:
·
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office and Other
Equipments
·
Computers
·
Vehicles
·
Goodwill
·
Computer Software
·
Technical Knowhow fees
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 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.