MIRA
INFORM REPORT
|
Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ROCKMAN INDUSTRIES LIMITED |
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Registered Office : |
A-7, Focal Point Phase V, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
25.11.1981 |
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Com. Reg. No.: |
16-004729 |
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Paid-up Capital : |
Rs. 151.564 Millions |
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CIN No.: [Company
Identification No.] |
U35921PB1981PLC004729 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDR00965G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer, Supplier and Exporter of Aluminium Die Casting Machine and
Gravity Die Casting. |
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No. of Employees : |
About 2000 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 7400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. 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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
LOCATIONS
|
Registered Office : |
A-7, Focal Point Phase V, Ludhiana-141010, |
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Tel. No.: |
91-161-2670701/ 2670702/4 |
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Fax No.: |
91-161-2670700 |
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E-Mail : |
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Website : |
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Corporate Office
: |
503, 5th Floor Rectangle 1, D4, |
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Tel. No.: |
91 11 4327 0701 - 05 |
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E-Mail : |
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Factory : |
3/P-1, Sector 10, Siducul, Haridwar, |
DIRECTORS
As On 10.09.2010
|
Name : |
Mr. Sanjay Tandon |
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Designation : |
Additional Director |
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Address : |
House No. 1556, Sector 18-D, Chandigarh-160018, |
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Date of Birth/Age : |
10.09.1963 |
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Date of Appointment : |
11.06.2007 |
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DIN No. : |
00484699 |
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Name : |
Mr. Ujjwal Munjal |
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Designation : |
Whole Time Director |
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Address : |
26, |
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Date of Birth/Age : |
17.12.1978 |
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Date of Appointment : |
30.06.2008 |
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DIN No. : |
01051972 |
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Name : |
Mr. Mohamad Abdul Zahir |
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Designation : |
Director |
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Address : |
95, New Rajguru Nagar, Ludhiana-141002, |
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Date of Birth/Age : |
18.12.1942 |
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Date of Appointment : |
11.03.2002 |
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DIN No. : |
00002973 |
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Name : |
Mr. Surinder Kumar Mehta |
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Designation : |
Director |
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Address : |
HM-147, PB, Housing Board Colony, Jamalpur, Ludhiana-141002, |
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Date of Birth/Age : |
06.12.1934 |
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Date of Appointment : |
11.03.2002 |
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DIN No. : |
00002888 |
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Name : |
Mr. Sudhershan Munjal |
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Designation : |
Director |
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Address : |
26, |
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Date of Appointment : |
10.01.1986 |
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Date of Cessation : |
20.05.2010 |
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DIN No. : |
00112103 |
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Name : |
Mr. Satyanand Munjal |
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Designation : |
Director |
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Address : |
24, |
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Date of Birth/Age : |
24.05.1917 |
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Date of Appointment : |
25.11.1981 |
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Date of Cessation : |
20.05.2010 |
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DIN No. : |
00003861 |
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Name : |
Mr. Vijay Munjal |
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Designation : |
Director |
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Address : |
19-C, Sarabha Nagar, Ludhiana-141002, |
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Date of Birth/Age : |
17.11.1944 |
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Date of Appointment : |
30.12.2004 |
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Date of Cessation : |
20.05.2010 |
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DIN No. : |
00002782 |
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Name : |
Ms. Neelam Munjal |
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Designation : |
Director |
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Address : |
Guru Chhaya Farm, 40, Ghitorni, Mehrauli, |
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Date of Appointment : |
08.06.2005 |
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Name : |
Mr. Brijmohan Lall Munjal |
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Designation : |
Director |
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Address : |
B-109, Greater Kailash – I, |
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Date of Birth/Age : |
01.07.1923 |
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Date of Appointment : |
29.05.2010 |
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DIN No. : |
00004134 |
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Name : |
Ms. Suman Kant Munjal |
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Designation : |
Managing Director |
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Address : |
26, |
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Date of Birth/Age : |
26.02.1953 |
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Date of Appointment : |
10.01.1986 |
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DIN No. : |
00002803 |
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Name : |
Mr. Pawan Munjal |
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Designation : |
Director |
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Address : |
B-109, Greater Kailash – I, |
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Date of Birth/Age : |
29.10.1954 |
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Date of Appointment : |
29.05.2010 |
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DIN No. : |
00004223 |
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Name : |
Mr. Sunil Kant Munjal |
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Designation : |
Director |
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Address : |
Kothi No 1 – A, Friends Colony West, |
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Date of Birth/Age : |
14.12.1957 |
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Date of Appointment : |
29.05.2010 |
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DIN No. : |
00003902 |
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Name : |
Mr. Rahul Munjal |
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Designation : |
Director |
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Address : |
B-109, Greater Kailash – I, |
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Date of Birth/Age : |
14.01.1976 |
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Date of Appointment : |
29.05.2010 |
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DIN No. : |
00118339 |
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Name : |
Mr. Sudarshan Kumari |
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Designation : |
Director |
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Address : |
24, |
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Date of Birth/Age : |
14.10.1930 |
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Date of Appointment : |
10.01.1986 |
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Date of Cessation : |
20.05.2010 |
KEY EXECUTIVES
|
Name : |
Ms. Bindu Garg |
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Designation : |
Company Secretary |
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Address : |
20, Upkar Nagar, |
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Date of Birth/Age : |
01.06.1975 |
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Date of Appointment : |
08.06.2005 |
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Pan No. : |
AENPG7117H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Suman Kant Munjal |
|
576000 |
|
Pawan Kant Munjal |
|
576000 |
|
Sunil Kant Munjal |
|
576000 |
|
Renu Munjal |
|
192000 |
|
Abhimanyu Munjal |
|
192000 |
|
Rahul Munjal |
|
192000 |
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Suman Munjal |
|
576000 |
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Bahadur Chand Investments (P) Limited – |
|
909091 |
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Hero Investments (P) Limited – |
|
909091 |
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Puja Investments (P) Limited – |
|
10458182 |
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Total |
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15156364 |
As on 10.09.2010
|
Equity Share
Breakup |
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Percentage of
Holding |
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Category |
|
|
|
Bodies corporate |
|
81.00 |
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Directors or relatives of directors |
|
19.00 |
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Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Supplier and Exporter of Aluminium Die Casting Machine
and Gravity Die Casting. |
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Products : |
High Pressure
Die Casting
Low Pressure Die
Casting
Gravity Casting
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PRODUCTION STATUS (As On 31.03.2010)
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Particulars |
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Unit |
Actual
Production |
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Automobile Chain |
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Nos. |
4158462 |
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Auto Parts (Numerous) |
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Nos. |
24424347 |
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Automobile Wheel) |
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Nos. |
551968 |
GENERAL INFORMATION
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No. of Employees : |
About 2000 (approximately) |
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Bankers : |
·
Punjab National Bank, Miller Ganj,
Ludhiana-141003, ·
State Bank of ·
Yes Bank |
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Facilities : |
Notes: a)
Term Loan of scotla bank and SBI including FCNRB
are secured by way of first charge on pari passu basis on the entire fixed
assets of the company’s haridwar unit, including mortgage of lease holds
rights of the factory land and building at haridwar. b)
Buyer’s credit PNB are secured by way of
hypothecation of plant and machinery acquired under this loan of c)
Buyer’s credit of SBI are secured by way of first
charge on pari passu on the entire fixed assets of the company’s haridwar
unit, including equitable mortgage of lease hold rights of the factory land
and buidlign at haridwar d)
Working capital limits of PNB are secured by way
of hypothecation of stocks ie. Raw material, auto components/dies casting
material, stock in process, consumables stores/spares, finished goods and
book debts of e)
Working capital limits of SBI and short term loan
are secured by way of first charge on pari passu basis on the entire current
assets of the company’s haridwar unit.
Buyer’s credit from Yes Bank are repayable with one year * From others repayable on demand |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B D Bansal and Company Chartered Accountant |
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Address : |
7, G.F Sant Isher Singh Nagar, |
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Pan No. : |
AABFB0018J |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs. 10/- each |
Rs. 160.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15156364 |
Equity Shares |
Rs. 10/-
each |
Rs. 151.564
Millions |
|
|
|
|
|
Note:
Of the above:
(i)
400000 Equity Shares
issued as fully paid up by way of bonus shares by capitalization of Capital
Redemption Reserve.
(ii)
10880000 Equity Shares issued
as fully paid up by way of bonus shares by capitalization of Gerneral Reserve.
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 |
151.564 |
151.564 |
151.564 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1704.040 |
1211.908 |
1116.200 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1855.604 |
1363.472 |
1267.764 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1193.182 |
1394.967 |
549.571 |
|
|
2] Unsecured Loans |
849.783 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2042.965 |
1394.967 |
549.571 |
|
|
DEFERRED TAX LIABILITIES |
39.444 |
40.617 |
56.127 |
|
|
|
|
|
|
|
|
TOTAL |
3938.013 |
2799.056 |
1873.462 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2662.184 |
2263.466 |
560.907 |
|
|
Capital work-in-progress |
7.523 |
265.071 |
929.406 |
|
|
|
|
|
|
|
|
INVESTMENT |
93.905 |
100.733 |
273.884 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
224.408
|
124.350 |
82.721
|
|
|
Sundry Debtors |
958.212
|
614.529 |
378.842
|
|
|
Cash & Bank Balances |
34.240
|
25.679 |
28.725
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
1154.293
|
156.575 |
82.824
|
|
Total
Current Assets |
2371.153
|
921.133 |
573.112 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
515.918
|
443.226 |
|
|
|
Other Current Liabilities |
636.650
|
290.389 |
446.115
|
|
|
Provisions |
44.184
|
17.732 |
17.732
|
|
Total
Current Liabilities |
1196.752
|
751.347 |
463.847
|
|
|
Net Current Assets |
1174.401
|
169.786 |
109.265
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3938.013 |
2799.056 |
1873.462 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7077.747 |
3881.772 |
2141.295 |
|
|
|
Other Income |
67.418 |
27.603 |
70.200 |
|
|
|
TOTAL (A) |
7145.165 |
3909.375 |
2211.495 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
6125.235 |
3515.369 |
1940.572 |
|
|
|
TOTAL (B) |
6125.235 |
3515.369 |
1940.572 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1019.930 |
394.006 |
270.923 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
151.572 |
102.997 |
9.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
868.358 |
291.009 |
261.911 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
225.846 |
181.474 |
70.208 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
642.512 |
109.535 |
191.703 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
108.830 |
1.689 |
56.192 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
533.682 |
107.846 |
135.511 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEAR
ADJUSTMENTS |
0.575 |
0.028 |
(0.891) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEAR
TAX ADJUSTMENTS |
2.058 |
5.566 |
1.613 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
792.253 |
696.545 |
578.044 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
53.632 |
0.000 |
0.000 |
|
|
|
Dividend |
37.891 |
15.156 |
15.156 |
|
|
|
Tax on Dividend |
6.293 |
2.576 |
2.576 |
|
|
BALANCE CARRIED
TO THE B/S |
1230.752 |
792.253 |
696.545 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
31.810 |
8.069 |
NA |
|
|
TOTAL EARNINGS |
31.810 |
8.069 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
261.413 |
283.001 |
18.017 |
|
|
|
Stores & Spares |
90.478 |
21.733 |
4.533 |
|
|
|
Capital Goods |
41.845 |
477.888 |
5.412 |
|
|
TOTAL IMPORTS |
393.736 |
782.622 |
27.962 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
35.39 |
7.48 |
9.64 |
|
|
|
- Diluted |
35.39 |
7.48 |
9.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.47
|
2.76 |
6.13
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.08
|
2.82 |
8.95
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.77
|
9.25 |
16.90
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.08 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.75
|
1.57 |
0.80
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.98
|
1.23 |
1.24
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
Sales
During the year, the company has achieved a turnover of Rs. 7370.700 millions including other income of Rs.67.400 millions resulting in a growth of 74 % over
its turnover of Rs. 4228.0000 millions including other income of Rs.27.600 millions in the previous financial year and
also Annual sale volume grew by 398% in Alloy wheel, 71 % in
Automobile components and 22% in Auto Chain.
Profitability
The Earning before Interest, depreciation and Taxes (EBITDA) for the year ended March 2010 increased by 173% i.e. from Rs. 373.900
millions in the year 08 -09 to Rs. 1019.800 millions in
the year 09 - 10. Similarly ,the profit after tax for the year ended March 2010
increased by 373% i.e. from Rs.113.400 millions in the year 2008 -
09 to Rs. 536.300 millions in the year 2009 -10
Other income
Other Income increased by 144% from 27.600 millions in 2008 -09 to Rs 67.400 millions in 2009 -10.
Cash Flow
The operating profits before working capital has increased from
Rs.367.300 millions for the
previous year to 978.800 millions
in the financial year 2009-10
Capital expenditure
During the year the company has made capital expenditure af Rs. 363.100 millions. These funds were utilised to expand capacity
at the existing facilities at our Haridwar and
Raw material cost
Raw material cost as a percentage of
total sale decreased from 70.68% in 2008 -09 to 66.04 % in 2009 -10.
FUTURE OUTLOOK
The company had initiated a market study to evaluate the opportunity of entering into the aftermarket of
two wheeler chains last year. An extensive
market research has been done through reputed professional consultants and the company could identify huge
potential for motor cycle chain
in the replacement market. The study
indicates that Rockman once being a producer of 17% motor cycle chain in the market has now reduced
to 7% due to lack of presence in
after market.
Contingent
Liabilities:
i)
Joint guarantee given on behalf of M/s. Hero
Management Service Limited to Custom Department Rs. 50.000 millions (previous
year Rs. 50.000 millions)
ii)
In respect of income tax cases/sales tax/excise
duty/ wealth tax Rs. Nil
iii)
Letter of credit issued by Banks Rs. 98.078
millions (previous year Rs. 22.468 millions)
iv)
Surety given on behalf of M/s. Majestic Auto
Limited to excise department Rs. 5.000 millions (previous year Rs. 5.000
millions)
v)
Surety given on behalf of M/s. Hero Cycles Limited
(C. R. Division) to president of India Rs. 1.500 millions (previous year Rs.
1.500 millions)
vi)
Surety given on behalf of M/s. Highway Industries
Limited to governor of Punjab Rs. 0.860 millions (previous year Rs. 0.860
millions)
Bankers Charges
Report as per Registry
|
Name of the company |
Rockman Cycle Industries Limited |
|
Presented By |
M. L. Arora, Secretary |
|
1) Date and description of instrument creating the change |
Agreement of
hypothecation (of machinery) dated 08.02.1991 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Total Bank
facilities from Punjab National bank, Millerganj, |
|
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 |
The entire machinery,
installed/ to installed, at the premises of the company, offered as a
collateral security to secured the total bank facilities aggregating to Rs.
42.300 millions |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
i) The company
shall no, without permission of the bank, transfer alienate or mortgage it to
any other person. ii) The plant and
machinery can be operated by the company for day business. iii) The plant
and machinery shall not be removed to any other place, without the consent of
the bank. iv) In case of
any default the bank can take possession of the machinery and can sell it to
realize its dues, including interest and other charges |
|
5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank, Millerganj, |
|
6) Date and brief description of instrument modifying the charge |
Agreement of
hypothecation of (of machinery) dated 17.07.1991 |
|
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 total bank
facilities covered no amount to Rs. 17.650 millions, instead of Rs. 17.350
millions other terms and conditions are the same. |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U35921PB1981PLC004729 |
|
Name of the
company |
ROCKMAN INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-7, Focal Point Phase V, Ludhiana-141010, |
|
Type of charge |
Book Debts Current assets |
|
Particular of
charge holder |
Punjab National Bank, Miller Ganj, Ludhiana-141003, |
|
Nature of description
of the instrument creating or modifying the charge |
Short term loan
agreement |
|
Date of
instrument Creating the charge |
29.09.2009 |
|
Amount secured by
the charge |
Rs. 70.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 8.5% Terms of
Repayment As per agreement Extent and
Operation of the charge Current assets of
the company for |
|
Short particulars
of the property charged |
Current assets of
|
Fixed Assets:
·
·
·
Building
·
Machinery and Equipments
·
Furniture and Fittings
·
Vehicles
·
Computer software
·
Technical know-how
AS PER WEBSITE
PROFILE:
From a humble effort to localise Bicycle Chains and Hubs in early 60’s
to Worlds Largest Producer and now to a leading Supplier of Aluminium Die Casting, Machined and Painted Assemblies, the
journey so far has been full of growth and full of passion for excellence.
Today they are one of leading partners in Aluminium Die Casting, Machined and Painted Assemblies to
Hero Honda, the Largest Manufacturer of Two Wheels in the World. Besides being
Customer Centric, a company has to keep Innovating, Facilitating Change,
adopting World – Class Manufacturing and Management Practices. They at subject,
are always striving and challenging conventions to exceed our customer’s
expectations in terms of quality, cost, development and delivery.
Subject has witnessed a very sharp growth in volume and revenue in last
5 years. The biggest strength to achieve this rapid growth has been a unique
work culture always willing to learn and proactively contribute towards common
goal of achieving excellence and high level of customer satisfaction.
Subject is one of largest suppliers of Drive Chains
and Timing Chain
to World's largest two wheeler company Hero Honda. Subject produces chains as
per International standards like 420, 428.
Aluminium High
Pressure Die Casting
With 9 years of experience in High Pressure Die Casting, Rockman has
developed in-house expertise in this field. Not only they have developed
systems for handling multiple alloys, but have mastered the art of large scale
mass production. They produce over 30,000 die cast components/day from the
machines ranging from 150T to 800T locking force capacity. The HPDC machines
are fully automatic with real time controls to ensure uniform quality.
Customer’s quality requirements are continuously increasing.
Pressure-tight castings free from pores is the order of the day. Rockman has
the experience and expertise in such castings.
The expertise in processes, ability to offer creative solutions, always
meeting the timeline and offering the entire range of services have made them
what they are today.
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.44.29 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.