Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
TITANIUM TANTALUM PRODUCTS LIMITED |
Principal Name 1 |
Dr. Thangappan Ramaswamy |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Kamala Thangappan |
|
|
|
Registration # |
18-008398 |
|
Street Address |
No.86/1, Vengaivasal Main Road, Gowrivakkam, Chennai – 601 302,
Tamilnadu |
||
|
Established Date |
04.09.1980 |
SIC Code |
-- |
|
Telephone# |
91-44-22275210 / 22275211 / 22780212 |
Business Style 1 |
Manufacturer of
mixed metal and sacrificial anodes, titanium pumps and valves, heat
exchangers, and blowers. |
|
Fax # |
91-44-22275209 / 22781120 |
Business Style 2 |
-- |
|
Homepage |
|
Product Name 1 |
Heat Exchanger – Shell and Tube Type |
|
# of employees |
230 (Approximately) |
Product Name 2 |
Pressure Vessels and Reactor |
|
Paid up capital |
Rs. 78,187,740 |
Product Name 3 |
Chlor Alkali Cells |
|
Shareholders |
Directors or relatives of directors 82.00% |
Banking |
Canara Bank |
|
Public Limited Corp. |
-- |
Business Period |
31 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
860,729,000 |
Current Liabilities |
774,631,000 |
|
Inventories |
626,232,000 |
Long-term Liabilities |
491,954,000 |
|
Fixed Assets |
99,766,000 |
Other Liabilities |
2,418,000 |
|
Deferred Assets |
0 |
Total Liabilities |
1,269,003,000 |
|
Invest& other Assets |
158,000 |
Retained Earnings |
239,694,000 |
|
|
|
Net Worth |
317,882,000 |
|
Total Assets |
1,586,885,000 |
Total Liab. & Equity |
1,586,885,000 |
|
Total Assets (Previous Year) |
1,325,658,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
708,077,000 |
Net Profit |
28,937,000 |
|
Sales(Previous yr) |
624,286,000 |
Net Profit(Prev.yr) |
28,589,000 |
MIRA
INFORM REPORT
|
Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
TITANIUM TANTALUM PRODUCTS LIMITED |
|
|
|
|
Registered
Office : |
No.86/1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
04.09.1980 |
|
|
|
|
Com. Reg. No.: |
18-008398 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.78.188
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31900TN1980ULL008398 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHET00533B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT1272A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
mixed metal and sacrificial anodes, titanium pumps and valves, heat
exchangers, and blowers. |
|
|
|
|
No. of Employees
: |
230 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1272000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
No.86/1, |
|
Tel. No.: |
91-44-22275210 / 22275211 / 22780212 |
|
Fax No.: |
91-44-22275209 / 22781120 |
|
E-Mail : |
sales@titanindia.com |
|
Website : |
DIRECTORS
As on 25.09.2010
|
Name : |
Dr. Thangappan Ramaswamy |
|
Designation : |
Director |
|
Address : |
New No.537 (Old No.161), |
|
Date of Birth/Age : |
31.08.1933 |
|
Date of Appointment : |
01.04.2007 |
|
DIN No.: |
00043112 |
|
Other Directorship : |
Techno-Futura International Limited Electro Protection Services India Private Limited Titanics India Limited R. T. Globvest Private Limited |
|
|
|
|
Name : |
Mrs. Kamala Thangappan |
|
Designation : |
Director |
|
Address : |
New No.537 (Old No.161), |
|
Date of Birth/Age : |
07.08.1944 |
|
Date of Appointment : |
22.09.2007 |
|
DIN No.: |
00043215 |
|
|
|
|
Name : |
Dr. Jeyamohan Thangappan |
|
Designation : |
Vice Chairman |
|
Address : |
New No.537 (Old No.161), |
|
Date of Birth/Age : |
14.09.1967 |
|
Date of Appointment : |
27.09.2008 |
|
DIN No.: |
00043187 |
|
|
|
|
Name : |
Mr. Jeyananth Thangappan |
|
Designation : |
Managing Director |
|
Address : |
New No.537 (Old No.161), |
|
Date of Birth/Age : |
16.04.1969 |
|
Date of Appointment : |
01.07.2007 |
|
DIN No.: |
00043148 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of
Shareholders |
No.
of Shares |
|
R. Thangappan |
3646174 |
|
Kamala Thangappan |
588600 |
|
B. Rajendran |
900 |
|
T. Jeyamohan |
543000 |
|
T. Jeyananth |
1216400 |
|
T. Jeyashree |
45000 |
|
R. Thangappan (HUF) |
207000 |
|
T. Jeyavelan |
144450 |
|
Priya Mohan |
450 |
|
Lalitha Jeyananth |
1800 |
|
Aditya Kapadia |
72000 |
|
Ammiraju SP Chode |
2000 |
|
P.L. Annamalai |
500 |
|
Arul Prakash Krishnan |
50000 |
|
Aurna Jhothi Gollapudi |
10000 |
|
R. Chellam |
20000 |
|
P. Chidamparam |
2000 |
|
Chidambaram Nachiappan |
100000 |
|
Gandhi Kantheti |
20000 |
|
Gorantala Arpitha |
2500 |
|
Gorantala Badri Vishal Kumar |
2500 |
|
Gorantala Vishnu Bhoopal |
7500 |
|
Jain M.P.(HUF) |
100000 |
|
V. Jitendra Kumar |
2000 |
|
K. Kamakshi |
500 |
|
Kantheti Satish |
50000 |
|
Kilambi Sujatha |
2000 |
|
C.H. Kiron |
100000 |
|
Kotesara Rao Meka |
1000 |
|
Lata Reddy Chada |
5000 |
|
A.N. Meenakshi |
500 |
|
Namashivaya Renukuntal |
12000 |
|
Pendyala Srinivasa Rao |
10000 |
|
Poduvu Sreeram Reddy |
7500 |
|
K. Bala Subramanian |
301240 |
|
Zen Securities Limited |
100000 |
|
Invesco Holdings Private Limited |
100000 |
As on 25.09.2010
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
3.00 |
|
Directors
or relatives of directors |
82.00 |
|
Other
top fifty shareholders |
15.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of mixed metal and sacrificial anodes, titanium pumps and valves, heat
exchangers, and blowers. |
||||||||
|
|
|
||||||||
|
Products : |
- Equipment - Rotodynamic - Electrodes - Standard
Products -
Electroplating - Cathodic
Protection - Special
Service - Electrochlorination - Anode Repair and
Refurbishment |
||||||||
|
|
|
||||||||
|
Brand Names : |
‘TITAN’ |
GENERAL INFORMATION
|
No. of Employees : |
230 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
K. Subramaniam Chartered Accountants |
|
Address : |
113, Kamraj Bhavan, 500, Anna Salai, Chennai – 600 006, |
|
Tel. No.: |
91-44-24349914 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
|
3000000 |
Preference Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
Total
|
|
Rs.120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7818774 |
Equity Shares |
Rs.10/- each |
Rs.78.188
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
78.188 |
78.188 |
78.188 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
239.694 |
213.606 |
185.221 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
317.882 |
291.794 |
263.409 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
491.954 |
235.678 |
203.593 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
491.954 |
235.678 |
203.593 |
|
|
DEFERRED TAX LIABILITIES |
2.418 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
812.254 |
527.472 |
467.002 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
99.766 |
94.730 |
82.463 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.158 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
626.232
|
499.620
|
326.218 |
|
|
Sundry Debtors |
700.224
|
582.028
|
490.086 |
|
|
Cash & Bank Balances |
69.679
|
51.754
|
46.034 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
90.826
|
97.483
|
92.562 |
|
Total
Current Assets |
1486.961
|
1230.885
|
954.900 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
539.760
|
506.675
|
373.617 |
|
|
Other Current Liabilities |
178.857
|
230.478
|
145.433 |
|
|
Provisions |
56.014
|
61.033
|
51.398 |
|
Total
Current Liabilities |
774.631
|
798.186
|
570.448 |
|
|
Net Current Assets |
712.330
|
432.699
|
384.452 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.043 |
0.087 |
|
|
|
|
|
|
|
|
TOTAL |
812.254 |
527.472 |
467.002 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
708.077 |
624.286 |
861.641 |
|
|
|
Other Income |
5.790 |
4.230 |
25.436 |
|
|
|
TOTAL (A) |
713.867 |
628.516 |
887.077 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
307.542 |
292.875 |
466.511 |
|
|
|
Factory Expenses |
116.381 |
97.839 |
101.944 |
|
|
|
Administrative Expenses |
138.066 |
129.308 |
151.386 |
|
|
|
Increase / Decrease in Stock |
23.161 |
(2.230) |
(23.149) |
|
|
|
TOTAL (B) |
585.150 |
517.792 |
696.692 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
128.717 |
110.724 |
190.385 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
75.759 |
51.839 |
37.324 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.958 |
58.885 |
153.061 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.271 |
14.246 |
10.862 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
38.687 |
44.639 |
142.199 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.750 |
16.050 |
56.968 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
28.937 |
28.589 |
85.231 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
166.695 |
141.106 |
67.219 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3.000 |
3.000 |
2.200 |
|
|
|
Dividend |
0.000 |
0.000 |
7.819 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
1.325 |
|
|
BALANCE CARRIED
TO THE B/S |
192.632 |
166.695 |
141.106 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
134.953 |
256.309 |
276.471 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.70 |
3.66 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.05 |
4.55
|
9.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.46 |
7.15
|
16.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.44 |
3.37
|
13.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.15
|
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.98 |
3.54
|
2.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.92 |
1.54
|
1.67 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS GROWTH:
The Company’s
turnover during 2009-10 touched Rs.708.100 millions, with an increase of
13.42%. The order book position being very healthy and growing steadily, the company
is confident of consolidating its growth trajectory in this financial year.
MAJOR ACHIEVEMENTS IN 2009-10:
The company, having
bagged the prestigious order from ONGC Limited at the end of 2008-09. have made
further inroads in Oil and Gas Sector and others. Some of the notable contracts
are as given below:
v
Bhabha
Atomic Research Centre – Rs.78.200 millions
v
Moons —
Gunan
v
Larsen
and Toubro Limited – Rs.40.800 millions
v
Hindustan
Shipyard Limited – 24.000 millions
v
Material
Organization, Naval Dockyard – Rs.18.500 millions
EMERGING CONTRIBUTOR TO ECONOMIC GROWTH:
Government of
The Government of
India also has evolved policies for the private sectors to participate in the
indigenization of required equipment and components in Aerospace and Defence
sectors.
The Company, being
in SME sector, contributes 30% of the exports on its total turn over during the
year under report. Government of
The Government of
India has embarked upon rationalization of Tax laws, the government plans to
introduce Direct Tax code for Income tax and Goods and services Tax Act during
2011-12. In order to maintain transparency and uniformity in preparing
financial statements International Financial Reporting standards (IFRS ) will
be introduced from 2011-12 . The company is also getting prepared to adapt to
the change in Tax laws.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U31900TN1980PLC008398 |
|
Name of the
company |
TITANIUM TANTALUM PRODUCTS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
86/ Chennai – 601 302, |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property Floating charge |
|
Particular of
charge holder |
Export Import Bank Of |
|
Nature of
instrument creating charge |
Unattested Deed of Hypothecation of Current Assets Dated October 05,
2009 executed by Titanium Tantalum Products Limited (The Borrower) over its entire
current assets Pertaining to the 'ONGC' project in favour of Export Import
Bank of India (Exim Bank or 'EB' to secure the loan of Rs.361.500 Millions 9
' The Loan') granted /to be granted to the borrower by Exim Bank |
|
Date of instrument
Creating the charge |
05/10/2009 |
|
Amount secured by
the charge |
Rs.361.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 9% per annum (p.a.) payable with monthly rests and further subject to
reset of interest rate after a period
of one year Terms of repayment Each disbursement under the loan shall
be repaid by the borrower out of contract proceeds or at the end of 1
year and 6 months from the date of first
disburesement, whichever is earlier Margin Nil Extent and operation of the charge Exclusive charge on the entire current assets including receivables
pertaining to the ONGC project executed by the borrower, both present and
future. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The particulars of the current assets are described in schedule iii to
the deed of hypothecation dated 05-10-2009 |
|
Name of the company |
TITANIUM
TANTALUM PRODUCTS LIMITED |
||||||||||||
|
Presented By |
TITANIUM
TANTALUM PRODUCTS LIMITED AND CANARA
BANK, OVERSEAS BRANCH, CHENNAI |
||||||||||||
|
1) Date and description of instrument creating the change |
02.05.2005 Common
Hypothecation Agreement |
||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 42.000
Millions comprising :
Together with
interest, costs, charges and other expenses which may be debited to the said
accounts from time to time. |
||||||||||||
|
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 |
All the goods,
commodities, machineries and other items purchased, acquitted, received under
the said credit facilities / imported under letter of credit now lying or
hereafter stored at the godowns, yards and premises, factories o the
borrower or lying at any other place
wheresoever, whether the goods are in the course of transit from one place to
another in transit by land or sea from or power of the borrower or of the
bank and also all the book debts, outstanding money receivables, claims and
bills arising out of the sale, disposal of the received under the said credit
facilities which are now due and owing and which may at any time during the
continuance of the security becomes due and owing to the borrower in the
course of its business by any persons, firm, company or by the governments or
any local body or authority by way of Exclusive first charge and also Pari
passu 1st charge on the whole of the Fixed assets including the
machines of the company. |
||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
for FDB / LC – 8 % Margin an other terms and conditions as stipulated in the
agreement cited above and pari passu 1st charge on the entire
fixed assets of the company including equitable mortgage of all that piece
and parcel of land with factory premises situated at No. 176, Vengaivasai
Village, Saidapet Taluk, Chengalpet district on Paripassu basis with State
Bank of India 86, Rajaji Salai, Chennai – 1, dated 03.05.2005. |
||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Overseas Branch, |
||||||||||||
|
6) Date and brief description of instrument modifying the charge |
-- |
||||||||||||
|
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. |
-- |
CONTINGENT
LIABILITIES:
|
Particulars
|
31.03.2010 (Rs. in millions) |
|
Contingent Liabilities - Liability to Bank towards
unexpired |
|
|
Guarantees – State Bank of |
237.134 |
|
Letter of Credit – State Bank of |
146.569 |
|
|
|
FIXED ASSETS
v Land – Factory
v Land – Others
v Building – Factory
v Building – Office
v Marketing Office
v Building Under Construction
v Plant and Machinery
v Vehicles
v Office Equipments
v Furniture and Fittings
v Pager
v Air Conditioner
v Refrigerator
v Computers
v Xerox Machine
v Software Development
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.44.94 |
|
|
1 |
Rs.73.46 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
|
--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.