MIRA
INFORM REPORT
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Report Date : |
04.06.2011 |
IDENTIFICATION DETAILS
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Name : |
JYOTI CNC AUTOMATION PRIVATE LIMITED [w.e.f. 28.04.2008] |
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Formerly Known As : |
AMB ENGINEERING COMPANY PRIVATE LIMITED |
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Registered Office : |
G-506, Lodhika, GIDC Estate, Village Metoda, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
17.01.1991 |
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Com. Reg. No.: |
04-14914 |
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Capital
Investment / Paid-up Capital : |
Rs.111.468 Millions |
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CIN No.: [Company
Identification No.] |
U29221GJ1991PTC014914 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTJ00293G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of CNC Machines. |
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No. of Employees
: |
700 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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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 4000000 |
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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 a well 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.
INFORMATION DENIED BY
|
Name : |
Mr. Bhavesh |
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Designation : |
Account Department |
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Date : |
01.06.2011 |
LOCATIONS
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Registered Office / Factory : |
G-506, Lodhika, GIDC Estate, Village Metoda, |
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Tel. No.: |
91-2827-287081 /
287052 / 287212 / 287412 / 287812 / 287082 |
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Fax No.: |
91-2827-287480 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. ft. |
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Location : |
Leased |
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Administrative Office : |
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Tel. No.: |
91-281-2386331 / 2372039 |
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Fax No.: |
91-281-2367625 |
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E-Mail : |
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Website : |
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Area : |
70778 Sq. mt. |
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Location : |
Leased |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Parakramsinh Ghanshyamsinh Jadeja |
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Designation : |
Director |
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Address : |
“Osho”,
2, |
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Date of Birth/Age : |
21.10.1968 |
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Date of Appointment : |
26.03.2003 |
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DIN : |
00125050 |
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Name : |
Mr.
Vikramsinh Raghuvirsinh Rana |
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Designation : |
Director |
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Address : |
601,
Kishan Kanaiya-II, |
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Date of Birth/Age : |
19.01.1970 |
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Date of Appointment : |
26.03.2003 |
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DIN : |
00125079 |
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Name : |
Mr.
Sahdevsinh L. Jadeja |
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Designation : |
Director |
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Address : |
Shreenil,
Plot NO.70, |
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Date of Birth/Age : |
22.07.1965 |
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Date of Appointment : |
26.03.2003 |
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DIN : |
00126392 |
KEY EXECUTIVES
|
Name : |
Mr. Bhavesh |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Anilbhai B. Virani |
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1602000 |
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Kishore Virani |
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1718000 |
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Babita P. Rathod |
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1 |
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Basant Fulchand |
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1 |
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Mahendra Fulchand |
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1 |
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Popatlal Fulchand |
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1 |
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Regal Computer Systems Private Limited |
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1 |
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Sangeeta P. Rathod |
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1 |
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Subhash Fulchand |
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1 |
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Samir N. Shah |
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1 |
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Bhavesh L. Jadeja |
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98750 |
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Dakshaba Rana |
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96900 |
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Darshan J. Chauhan |
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5000 |
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Ghanshyamsinh Jadeja |
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213900 |
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Jagdishsinh L. Jadeja |
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63850 |
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Jyotiba Jadeja |
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22490 |
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Kaushik D. Solanki |
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21620 |
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Lalubhai H. Jadeja |
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181800 |
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Parakramsinh Jadeja |
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2668250 |
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Ramanikba G. Jadeja |
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53250 |
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Rajeshriba P. Jadeja |
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287490 |
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Sahadevsinh Jadeja |
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445050 |
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Ushaben G. Solanki |
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96650 |
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Vijay P. Zala |
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101950 |
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Vikramsinh R. Rana |
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357850 |
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Shyamal Rana |
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140000 |
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Jyoti International Private Limited |
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828000 |
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Smit R. Virani |
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2140000 |
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Chaitanya K. Solanki |
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4000 |
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Total |
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11146808 |
As on 30.09.2010
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer
and Exporter of CNC Machines. |
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Products : |
·
·
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Vertical Machine Center DX 100 ·
Vertical Machine Center DX 250 ·
SECT ·
STC 200 ·
SWIFTER
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Exports : |
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Products : |
CNC Machines |
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Countries : |
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Imports : |
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Products : |
Spareparts, Materials |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (Depend) |
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Purchasing : |
Cash and Credit (Depend) |
PRODUCTION STATUS As on 31.03.2010
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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CNC Machines |
Nos. |
1500 |
834 |
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GENERAL INFORMATION
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Customers : |
·
End Users ·
Manufacturer Major Customers ·
Mahindra ·
RICO ·
Godrej ·
Lagan Jute Machinery Company Limited ·
Amul ·
Harsha ·
Sona Koyo ·
Sonalika International ·
Kirloskar ·
MM Forgins ·
Bhavani Industries Limited ·
C M Smith and Sons Limited ·
Chandan Steel Limited ·
Agrasen Engineering Industries Limited ·
Kadvani Forge Limited ·
Bhairavnath Industries Private Limited ·
Snecma Safran Group ·
Siemens ·
Peugeot |
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No. of Employees : |
700 [Approximately] |
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Bankers : |
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Facilities : |
(Rs. In millions)
1. Term Loans are secured by first charge on pari passu basis on the Company's movable assets, equitable mortgage on immovable properties and second charge on inventory, receivables & other current assets, both present and future. 2. Working capital limits are secured by first charge on pari passu basis by hypothecation of stock & book debts and second charge on pari passu basis over Company's movable and immovable assets. 3. All the above facilities are secured by personal guarantee of the Directors, partners of associate firm and equitable mortgage of immovable properties of associate firms on pari passu basis. 4. Short term loan is secured by subservient charge on the current assets of the company 5. Vehicle loans are secured by way of hypothecation of
vehicles. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kalaria and Sampat Chartered Accountant |
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Address : |
302-305, Star Avenue, Dr. Radhakrishnan Road, Opp. Rajkumar
College, Rajkot – 360001, Gujarat,
India |
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Subsidiaries : |
·
Huron ·
Jyoti SAS [ ·
Huron Canada Inc. ·
Huron Frasmaschimen |
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Associates : Associate Firm : |
·
Jyoti Enterprises ·
Jyoti International Private Limited |
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Management Control
of Huron Graffenstaden SAS, |
·
Rolo and |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs.120.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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11,146,808 |
Ordinary Equity Shares |
Rs. 10/- each |
Rs.111.468
millions |
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[The above Special Equity shares were converted into
Ordinary Equity Shares during the year]
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 |
111.468 |
111.468 |
87.967 |
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2] Share Application Money |
129.500 |
108.000 |
132.188 |
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3] Reserves & Surplus |
764.695 |
755.579 |
439.789 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1005.663 |
975.047 |
659.944 |
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LOAN FUNDS |
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1] Secured Loans |
1385.422 |
1165.874 |
1003.366 |
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2] Unsecured Loans |
218.480 |
217.844 |
1.172 |
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TOTAL BORROWING |
1603.902 |
1383.718 |
1004.538 |
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DEFERRED TAX LIABILITIES |
94.362 |
86.632 |
69.592 |
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TOTAL |
2703.927 |
2445.397 |
1734.074 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1577.477 |
1254.498 |
1171.285 |
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Capital work-in-progress |
38.598 |
102.502 |
0.000 |
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INVESTMENT |
2.059 |
2.059 |
2.059 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1254.034
|
889.681 |
520.748 |
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Sundry Debtors |
323.300
|
387.226 |
282.194 |
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Cash & Bank Balances |
75.481
|
52.725 |
39.919 |
|
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
468.532
|
485.601 |
310.752 |
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Total
Current Assets |
2121.347
|
1815.233 |
1153.613 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
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Current Liabilities |
128.349
|
35.828 |
36.141 |
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Sundry Creditors |
882.763
|
671.343 |
494.666 |
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Provisions |
25.082
|
25.179 |
62.769 |
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Total
Current Liabilities |
1036.194
|
732.350 |
593.576 |
|
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Net Current Assets |
1085.153
|
1082.883 |
560.037 |
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MISCELLANEOUS EXPENSES |
0.178 |
0.435 |
0.693 |
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Foreign Currency Monetary Item Translation
Differe |
0.462 |
3.020 |
0.000 |
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TOTAL |
2703.927 |
2445.397 |
1734.074 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
1543.174 |
1430.723 |
1466.739 |
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Other Income |
74.905 |
31.502 |
6.985 |
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TOTAL (A) |
1618.079 |
1462.225 |
1473.724 |
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Less |
EXPENSES |
|
|
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|
|
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Raw Material, stores and spares consumed |
1142.587 |
1030.581 |
1006.140 |
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Manufacturing and other direct Expenses |
147.217 |
134.805 |
91.643 |
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Personnel Expenses |
112.733 |
89.245 |
59.687 |
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Other Expenses |
106.362 |
154.942 |
147.782 |
|
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Increase / Decrease in stock |
(205.726) |
(258.336) |
(67.669) |
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TOTAL (B) |
1303.173 |
1151.237 |
1237.583 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
314.906 |
310.988 |
236.141 |
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|
|
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Less |
FINANCIAL
EXPENSES (D) |
185.278 |
171.152 |
93.405 |
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|
|
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|
|
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
129.628 |
139.836 |
142.736 |
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|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.234 |
84.413 |
63.136 |
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PROFIT BEFORE
TAX (E-F) (G) |
21.394 |
55.423 |
79.600 |
|
|
|
|
|
|
|
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Less |
TAX (I) |
8.375 |
19.234 |
32.254 |
|
|
|
|
|
|
|
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PROFIT AFTER TAX
(G-I) (J) |
13.019 |
36.189 |
47.346 |
|
|
|
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|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
70.295 |
|
|
|
|
|
|
|
|
|
Add |
Excess
/ short provision of previous year |
0.043 |
0.035 |
4.276 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
13.062 |
36.224 |
121.917 |
|
|
|
|
|
|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
281.552 |
331.678 |
285.941 |
|
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|
|
|
|
|
|
|
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IMPORTS |
475.503 |
464.814 |
NA |
|
|
|
|
|
|
|
|
|
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Earnings Per
Share (Rs.) |
1.17 |
3.58 |
5.91 |
|
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Particulars |
|
|
31.03.2011 |
|
|
|
|
|
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Sales Turnover [Approximately] |
|
|
1640.000 |
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|
|
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The above information has been parted by Mr. Bhavesh [Account Department]
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.80
|
2.47 |
3.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.39
|
3.87 |
5.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.58
|
1.18 |
3.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.06 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.62
|
2.17 |
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
2.48 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS RESULTS:
Looking
back at the global economic scenario over the past 2 years, 2008-09 had been
the most difficult year for the global economy in the last 75 years. It began with
global inflation, and ended with the sharpest decline in global trade and GDP
since the Great Depression of the 1930s. The scenario continued in 2009-10 with
some signs of recovery in some of the markets in the latter part of the year
and the company performance reflected events in the global economy.
The
developed economies remained in disarray while
Their
performance in 2009-10 reflected the happenings in the global markets and the
subsequent recovery in the Asian markets. The company witnessed a sequential
improvement in both domestic and overseas operations on the back of strong
recovery in the Indian Automotive market and stabilization of global markets.
However
the decline in the Company’s business in US and Europe could not be compensated
by the growth in
The company recorded
sales of Rs.1543.174 millions as against Rs.1430.723 millions during the
previous year. Operating profit before Interest, Depreciation and amortization
grew by 1.23 % amounting to Rs.314.906 millions as against Rs.310.987 millions
during the previous year. However higher interest costs and depreciation charge
led to lower Net Profit of Rs.13.019 millions as compared to Rs.36.189 millions
in the previous year.
Going forward the
company sees exponential growth in
FINANCE
The borrowings of
the Company as on 31st March 2010 stood at Rs.1385.422 millions. During the
year, the company raised short term loans to the tune of Rs. 150.000 millions.
The Working capital limits of the company have also been enhanced to Rs.
700.000 millions during the year.
SUBSIDIARIES:
Huron Graffenstaden
S.A.S., France
During the year, the
global economic downturn continued to impact the Capital goods sector resulting
in lower revenue and profitability.
The
focus during the year was on restructuring operations and lowering the
break-even levels. Comprehensive cost reduction measures were undertaken across
all operations, which included significant reduction in manpower. With this
onetime exercise, these facilities are now tuned to break-even at much lower
capacity utilization levels and are well positioned to leverage opportunities
when markets revive.
HISTORY
Subject was initiated by Mr. P.G. Jadeja and Mr. S.L. Jadeja in 1989.
Driven by a vision to build the company into a temple of technology through
team work, the organization has grown manifold from manufacturing gear boxes
for machines to developing precision all-geared head lathe machines and later
on sophisticated CNC Machines. Continuous process improvement and fast adoption
of State-of-the-art technology has led subject in becoming a leader in
innovating manufacturing techniques.
Subject is respected as “A Temple of Technology” by the staff and its esteemed
clientele, who welcome and worship the new technology.
Further to transform the technology-savvy attitude into reality, Subject
started designing and manufacturing the wonder babies like
Subject is proud of the fact that its transition through technology-orientation
was destined towards effectively revolutionizing the Indian Industry. This
aspect has always been reflected through the company motto.
SUNDRY
CREDITORS DETAILS (Rs. in millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry
Creditors* |
|
|
|
|
Sundry Creditors
for Capital Goods |
203.788 |
81.464 |
55.484 |
|
Sundry Creditors
for Goods |
558.986 |
486.426 |
400.063 |
|
Sundry Creditors
for Expenses |
105.865 |
90.464 |
29.298 |
|
Sundry Creditors
for Others |
14.124 |
12.989 |
9.821 |
|
Total |
882.763
|
671.343 |
494.666 |
· Includes due to subsidiary Rs. 37.933 millions ( Previous Year Rs.34.689 millions )
Contingent Liability
The company has imported capital goods under EPCG scheme for
which it has saved duty to the tune of Rs.68.669 millions against which it has
an export obligation of 510.863 millions to be fulfilled within a period of 8
years from the relevant financial year. Any default on part of the company in
respect of the aforesaid export obligation will render the company liable for
payment of full amount of custom duty saved plus interest thereon as
applicable.
Contingent Liability not provided for on
account of :
|
Particulars |
31.03.2010 |
|
Letter of Credit |
21.554 |
|
Bank Guarantees |
29.086 |
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U29221GJ1991PTC014914 |
|
Name of the
company |
JYOTI CNC
AUTOMATION PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
G -506 Lodhika GIDC, Vill:Metoda, |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10203258 |
|
Type of charge |
·
Book
Debts ·
Movable
Property |
|
Particular of
charge holder |
Bank of |
|
Nature of
instrument creating charge |
Supplemental
Composite Agreement Of Hypothecation Of Goods, Book Debts, Movable Machinery
and Vehicles |
|
Date of instrument
Creating the charge |
30.09.2010 |
|
Amount secured by
the charge |
Rs.276.100
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- 0.25% below BPLR i.e. 11.75% p.a. with monthly rests Terms of
Repayment - Term Loan As Per Agreement. Cash Credit Payable On Demand Margin - 10% On
Stock, Wip, Finished Goods, Stores and Spares Extent and
Operation of the charge - The Bank Will Have Charge On All The Stock And
Books Debts On Pari Passu Basis |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All The Company's
Movable Assets Including Book Debts Situated At The Company's Factory At
G-506/2839, GIDC Lodhika, Village Metoda, Dist: |
|
Particulars of
the present modification |
Credit Facilities
reduced from Rs. 439.200 millions to Rs. 276.100 millions |
Fixed Assets
- Land
- Building
- Plant and Machinery
- Electric Fittings
- Dies and Tools
- Electrical Installations
- Office Equipments
- Computers
- Vehicles
As Per Website
Details
Company Profile
Subject is the brainchild of legendary Mr. P.G. Jadeja and Mr. S.L. Jadeja,
established in 1989. Driven by a vision to build the company “A Temple of
Technology” through teamwork, the company has grown manifold from manufacturing
gear boxes for machines to developing precision all-geared head lathe machines.
Later on subject has rightly identified Shift from conventional machines to
highly sophisticated CNC machines in the presence of manufacturers.
Subject was the first company to manufacture CNC machines in
After the opening up of the Indian Economy, there were great challenges
present for Indian companies but subject converted all challenges into great
opportunities. Subject has even decided to compete at the global level and has
taken concrete steps by exporting CNC machines. It has also established
distribution networks in various continents around the globe.
Subject is passing through the trajectory of rapid growth by achieving over
100% growth rate since its inception. Export penetration and inclination has
helped subject to establish goodwill among the foreign buyers and distributors.
The company is passionate about its business, but is also living the life of a
true corporate citizen taking care of each and every entity affiliated
directly/indirectly.
Company's expanding footprint ensures its global presence with export
operations in countries like
Message from CEO
Being a part of Indian manufacturing fraternity they are committed to
extend the best of the efforts for the development of Nation economically as
well as technologically.
Machine tool industry as a backbone of most of the manufacturing
industries which contributes significantly to the GDP of the Nation. Hereby,
the role of any machine tool manufacturing company in the development of nation
is vital.
As a conscious corporation entitled to prosper
the life with an ample usage of technology, Subject sincerely strives for
persistent betterment in products and services offered to customers.
They also commit the whole hearted efforts
to create subject a real
customer-centric organization.
Furthermore,
I bare a responsibility to uplift the society by means of creating better
employment and also a better workplace to nurture raw youth talent of
Milestones
2008
Meaningful Technological Innovation Award at Engimach’08 held at Ahmedabad.
2007
Acquired Huron Graffenstaden at
2006
Jyoti Huron-France Tie up
Export House Certification
Black
2005
Honored with the CII “Best Entrepreneurship of the year”
award for 2004-05.
2004
Achieved CMTI-PMT award for "The Best
Innovatie Design" IMTEX' 2004 Mumbai.
Designed and Manufactured CNC laser cutting machine for Diamond
Industry.
Achieved Fie foundation award for CNC oval turning maching during IMTEX'
2004.
Acquired the prestigious "CE Safety Markings"
for the products.
2003
·
Participation in EMO 2003 at
·
Achievement of ISO 9001:2000 Certification
from TUV
2002
· Participated in ENGIMACH' 02 organized in Ahmedabad. Honored with "The Best Innovative Technology Display" award at the show.
· Participated in
"TAGMA" at Mumbai
· Participated in
National Manufacturing Technology Show (NMTS) at
2001
Designed and Manufactured "SECT" - The first Indian machine for non-circular turning applications.
Designed and Manufactured "VMC 40 Linear"
- The first Indian machine having linear motors introduced to get higher
dynamics for faster production rates.
Honored with the CMTI-PMT award for "The Best Innovative Machine
Design" at IMTEX 2001.
Honored with the Machinist award for "The Best
Stall in IMTEX' 2001"
2000
· Achieved the
international standard of quality mgmt. system an ISO 9001:1994 certification from TUV.
· Designed and Manufactured
first CNC turn mill centre and participation in INTEC' 2000 at
1997
Designed and Manufactured first CNC turning centre in
1996
Designed twin spindle (chuker) type machine. The first in
1994
Designed several special purpose machines that helped textile industry
to bring substantial price reduction in component manufacturing.
1992
Designed all geared head lathes.
1989
Introduced trouble free gear-boxes for small lathes.
1988
Subject established.
Awards
2008
Meaningful Technological
Innovation Award at Engimach’08 held at Ahmedabad.
2006
Black
2004-05
CII "BEST ENTREPRENEURSHIP
AWARD" for year 2004-05.
2004
CMTI-PMT Trust Award in IMTEX' 2004 for the Best
Innovative Machine Design "VMC 70 Linear".
FIE award for Engineering Excellence in the
IMTEX' 2004 "SECT".
2003
Mr. Parakramsinh Jadeja, CMD, Jyoti CNC Automation Private Limited has
recently achieved a National award for “Best
Entrepreneurship : Year 2003“ from his excellency president of India Dr.
APJ Abdul Kalam On behalf of Ministry of Small Industries, Government of India.
2002
Award for the Best Innovative
Technology Display in ENGIMACH 2002.
2001
CMTI-PMT Trust award in Imtex' 2001 for the Best
Innovative Machine Design.
The Machinist award in IMTEX'
2001
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 :
The market
survey revealed that the amount of compensation sought by the subject is fair
an
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.
The 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. 44.85 |
|
|
1 |
Rs. 73.29 |
|
Euro |
1 |
Rs. 64.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.