MIRA
INFORM REPORT
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Report Date : |
06.06.2011 |
IDENTIFICATION DETAILS
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Name : |
DOSHION VEOLIA WATER SOLUTION PRIVATE LIMITED (w.e.f. 15.05.2008) |
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Formerly Known
As : |
DOSHION WATER SOLUTIONS PRIVATE LIMITED |
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Registered Office : |
347, Warehousing Complex, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation : |
27.08.2007 |
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Com. Reg. No.: |
11-173486 |
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Capital
Investment/ Paid-up Capital: |
Rs.50.000 Millions |
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CIN No.: [Company
Identification No.] |
U41000MH2007PTC173486 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The company is in the business of the Engineering, Procurement and Construction (EPC) segment of the Total Water Treatment Business. |
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No. of Employees: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 4200000 |
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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 |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DENIED BY
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Name : |
Mr. Chandresh |
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Designation : |
Finance Manager |
LOCATIONS
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Registered Office : |
347, Warehousing Complex, |
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Tel. No.: |
Not Available |
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E-Mail : |
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Website: |
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Corporate Office : |
Plot No. 24, Phase II, GIDC, Vatva, Ahmedabad-382445, |
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Tel. No.: |
91-79-30406000/ 25831156/ 25891916 |
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Fax No.: |
91-79-30406299 |
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E-Mail : |
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Factory 1 : |
Chemicals Plant Plot No. 25, 26, Phase II, GIDC Vatva, Ahmedabad-382445, |
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Tel. No.: |
91-79-25832661/ 25890848 |
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Fax No.: |
91-79-25893408 |
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E-Mail : |
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Factory 2 : |
Plot No. 107 to 112, Phase-I, GIDC Estate, Kathwada, Ahmedabad-382420,
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Tel. No.: |
91-79-22901248/ 22901250 |
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Fax No.: |
91-79-22900040 |
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E-Mail : |
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Factory 3 : |
Shri Ambica Estate, Plot No. A 65 to A 70, By |
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E-Mail : |
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Factory 4: |
Plot No. 89 and 103, Road No. B/8, Phase-1, GIDC Estate, Kathwada,
Ahmedabad-382420, |
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Tel. No.: |
91-79-32508480 |
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E-Mail : |
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Factory 5 : |
Shed No. 284 (A-II Type), Plot Nol. 5D, Sector 3, Kandla Special
Economic Zone, Gandhidham, Kutch, |
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Tel. No.: |
91-2836-321434 |
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Fax No.: |
91-2836-252957 |
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E-Mail : |
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Branches : |
Located at:
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DIRECTORS
As on 30.09.2010
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Name : |
Mr. Ashit Dhirajlal Doshi |
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Designation : |
Managing Director |
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Address : |
A-103, 10th Floor, Tirthbhoomi Apartment, Behind Law College,
Ahmedabad-380006, |
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Date of Birth/Age : |
18.08.1965 |
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Qualification: |
B.Sc. |
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Experience: |
24 Years |
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Date of Appointment : |
27.08.2007 |
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DIN No.: |
00150851 |
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Name : |
Mr. Rakshit Dhirajlal Doshi |
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Designation : |
Whole Time Director |
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Address : |
A/103, 10th Floor, Trithbhoomi Apartment, B/H |
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Date of Birth/Age : |
29.05.1969 |
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Qualification: |
B.E. (Chemical) |
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Experience: |
40 Years |
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Date of Appointment : |
26.12.2008 |
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DIN No.: |
00150910 |
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Name : |
Mr. Amit D Doshi |
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Designation : |
Director |
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Date of Birth/Age : |
37 Years |
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Qualification : |
B.E. (Industrial Enginering) |
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Experience : |
16 Years |
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Date of Appointment : |
01.10.1997 |
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Name : |
Mr. Dilip Shukla |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
49 Years |
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Qualification : |
B.E. Mechanical and B.E. Indr. |
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Experience : |
23 Years |
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Date of Appointment : |
19.01.2004 |
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Name : |
Mr. Jean Michel Georges Marie Glasman |
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Designation : |
Director |
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Address : |
12, Rue |
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Date of Birth/Age : |
09.12.1951 |
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Date of Appointment : |
29.09.2009 |
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DIN No.: |
02469294 |
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Name : |
Mr. Calude Soler |
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Designation : |
Director |
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Address : |
14, |
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Date of Birth/Age : |
24.12.1946 |
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Date of Appointment : |
29.09.2009 |
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DIN No.: |
02469273 |
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Name : |
Mr. Ganapathy Viswanathan Iyear |
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Designation : |
Director |
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Address : |
7, Nilgiri, Chhed Nagar, Chembur, Mumbai-400089, |
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Date of Birth/Age : |
24.09.1953 |
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Date of Appointment : |
29.09.2009 |
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DIN No.: |
00081038 |
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Name : |
Mr. Dhirajlal Shivlal Doshi |
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Designation : |
Director |
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Address : |
71, Oceana Apartments, |
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Date of Birth/Age : |
08.05.1939 |
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Date of Appointment : |
27.08.2007 |
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DIN No.: |
00158450 |
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Name : |
Mr. Prasad Gadkari |
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Designation : |
Nominee Director |
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Address : |
111, |
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Date of Birth/Age : |
20.02.1974 |
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Date of Appointment : |
25.11.2010 |
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DIN No.: |
02607255 |
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Name : |
Mr. Satish Kumar Gulab chand Mandhana |
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Designation : |
Director |
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Address : |
Flat No. 102, Ashoka Apartment, Rungta Lane, 68 Napensea Road,
Mumbai-400006, Maharashtra, India |
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Date of Birth/Age : |
01.01.1961 |
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Date of Appointment : |
26.12.2008 |
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Date of Ceasing: |
25.11.2010 |
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DIN No.: |
00448619 |
KEY EXECUTIVES
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Name : |
Mr. Chandresh |
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Designation : |
Finance Manager |
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Name : |
Mr. Yogesh Kumar Mishra |
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Designation : |
Secretary |
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Address : |
B-1, 42, Nirman Complex, R C Tech, Road, Ghatlodia, Ahmedabad-380061, |
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Date of Birth/Age : |
03.05.1970 |
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Date of Appointment : |
02.12.2008 |
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Name : |
Mr. Bipin Mishra |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
61 Years |
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Qualification : |
M.Tech-Mech |
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Experience : |
38 Years |
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Date of Appointment : |
12.02.2007 |
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Name : |
Mr. Shreepad Narayan Purkar |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
51 Years |
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Qualification : |
MBA |
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Experience : |
28 Years |
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Date of Appointment : |
04.06.2007 |
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Name : |
Mr. Iyengar D Chackravarthi |
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Designation : |
Vice President |
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Date of Birth/Age : |
55 Years |
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Qualification : |
B.E |
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Experience : |
33 Years |
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Date of Appointment : |
28.09.2007 |
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Name : |
Mr. Arvind K Waikar |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
56 Years |
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Qualification : |
Diploma in M.M |
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Experience : |
34 Years |
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Date of Appointment : |
01.06.2008 |
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Name : |
Mr. Pinari Bhadury |
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Designation : |
President |
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Date of Birth/Age : |
49 Years |
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Qualification : |
B.Sc. |
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Experience : |
29 Years |
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Date of Appointment : |
01.12.2009 |
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Name : |
Mr. Maunish Pandya |
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Designation : |
Vice President |
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Date of Birth/Age : |
39 Years |
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Qualification : |
B.E. (Mechanical) |
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Experience : |
19 Years |
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Date of Appointment : |
14.12.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
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No. of Shares |
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Doshion Limited, |
|
3500000 |
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Veolia Water Solutions and Technologies, |
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1500000 |
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Total |
|
5000000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
30.00 |
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Bodies corporate |
70.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is in the business of the Engineering, Procurement and Construction (EPC) segment of the Total Water Treatment Business. |
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Products : |
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PRODUCTION STATUS AS ON ( 31.03.2010)
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Resin |
Ltrs |
|
2160000 |
2038060 |
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Pharma Grade Resins |
Kgs |
|
168000 |
164932 |
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Water Treatment Chemicals |
Kgs. |
|
1800000 |
508983 |
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WT Plants |
Nos. |
|
479 |
479 |
GENERAL INFORMATION
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Bankers : |
The Karur Vysya Bank Limited, Motilal Centre, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountant |
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Address : |
“Heritage”, 3rd Floor, Near Gujarat Vidhyapith, Off |
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Financial Institute: |
IL and FS Trust Company Limited, IL and FS Financial Centre, Plot No.
C22 G Block Bandra Kurla Complex, Bandra East, Mumbai-400051, |
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Subsidiary Company: |
PT Doshion Veoila Water Solution |
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Enterprises having substantial interest in voting power of the company |
Veolia Water Solutions and Technology |
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Enterprises Controlled by the company: |
DVWSPL Employees Gratuity Trust |
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Holding Company : |
Doshion Limited, U24110GJ1995PLC025307 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Note:
Out of the above:
1)
3500000 equity Shares of
Rs. 10 each were issued as fully paid up Equity Shares pursuant to the Business
transfer Agreement (BTA) between Doshion Limited and the company at a price of
Rs. 9177143 per equity shares (i.e. Rs.
10 each of face value and Rs. 8177143 each of security premium) aggregating to
Rs. 321200000 (i.e. Rs. 35000000 as paid up share capital and Rs. 286200000 as
security premium) without payment being received in cash.
2)
3500000 (As at 31st
March 2009 3500000) Equity Share of Rs 10 each are held by Doshion Limited, the
holding company.
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 |
50.000 |
50.000 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
991.364 |
927.275 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
[0.045] |
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|
NETWORTH |
1041.364 |
977.275 |
0.055 |
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|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
343.104 |
360.080 |
0.000 |
|
|
2] Unsecured Loans |
250.000 |
45.347 |
0.000 |
|
|
TOTAL BORROWING |
593.104 |
405.427 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
12.866 |
14.189 |
0.000 |
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|
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|
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|
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TOTAL |
1647.334 |
1396.891 |
0.055 |
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APPLICATION OF FUNDS |
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|
|
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|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
229.804 |
231.298 |
0.000 |
|
|
Capital work-in-progress |
0.900 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.856 |
10.856 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
292.970
|
242.388 |
0.000 |
|
|
Sundry Debtors |
1626.235
|
1640.503 |
0.000 |
|
|
Cash & Bank Balances |
150.779
|
156.173 |
0.100 |
|
|
Other Current Assets |
14.298
|
17.804 |
0.000 |
|
|
Loans & Advances |
248.208
|
161.246 |
0.000 |
|
Total
Current Assets |
2332.490
|
2218.114 |
0.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
741.339
|
911.474 |
0.040 |
|
|
Other Current Liabilities |
150.287
|
132.263 |
0.005 |
|
|
Provisions |
35.090
|
19.640 |
0.000 |
|
Total
Current Liabilities |
926.716
|
1063.377 |
0.045 |
|
|
Net Current Assets |
1405.774
|
1154.737 |
0.055 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1647.334 |
1396.891 |
0.055 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2919.100 |
2909.700 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
2919.100 |
2909.700 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
|
2839.900 |
2806.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
79.200 |
102.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
9.300 |
21.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
69.900 |
81.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
79.000 |
[0.045] |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
|
5.000 |
1.600 |
|
|
|
Corporate Dividend Tax |
|
0.800 |
0.200 |
|
|
BALANCE CARRIED
TO THE B/S |
|
143.100 |
79.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
219.186 |
605.561 |
|
|
TOTAL EARNINGS |
|
219.186 |
605.561 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
319.578 |
324.578 |
|
|
|
Capital Goods |
|
0.250 |
0.000 |
|
|
TOTAL IMPORTS |
|
319.828 |
324.578 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
13.98 |
20.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.39
|
2.78 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.09
|
4.21 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.11 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.46
|
1.50 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.52
|
2.09 |
2.22 |
LOCAL AGENCY FURTHER INFORMATION
Note : The registered office of the company has been
shifted from Office No. 3, 2nd Floor, A Wing, Godrej coliseum,
Business:
The company is in the business of the
Engineering, Procurement and Construction (EPC) segment of the Total Water
Treatment Business and focused on providing total solutions in the water
management services by becoming “Single Window Water Solution Company”.
Operations:
The total turnover revenue of the company was
increased from Rs. 2910.000 Millions to Rs. 2920.000 Millions. The net profit
after tax has decreased to Rs. 70.000 Millions as compared to previous year’s
net profit of Rs. 80.000 Millions. The EPS (Earning per share) has also
decreased from Rs. 20.14 to 13.98.
Future Outlook:
In order to capture optimum business in
different sectors like power, Oil and Gas, Metal and Mining, the company has
focused on offering total solution from source to solution and providing unique
selling proposition which no competitor can offer. The company, to have
presence in the ferrous sector and to strengthen the position in this segment,
is exploring to tap up the steel market with steel giants like Tisco, Jindal,
JSW, SAIL etc. the company is also targeting to promote and explore new avenues
for winning EPC projects in SEZ Further, the company is concentrating to
capture markets for large International Airports and Internationl Cargo
Terminalas, Power SEZs, Petrochemicals SEZs, semi conductor SEZs and Pharma
SEZs etc.
Contingent Liabilities:
|
Particulars |
31.03.2010 Rs. in Millions |
|
Guarantee issued by Banks |
1180.224 |
|
Claims against the company not acknowledged as debts |
|
|
i) Disputed demand of Work Contract Tax |
0.094 |
|
ii) Disputed demand of Excise Duty |
27.927 |
|
iii) Disputed demand of Custom Duty |
18.998 |
|
iv) Disputed demand of Income Tax for which
an appeal has been preferred |
24.612 |
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U41000MH2007PTC173486 |
|
Name of the
company |
Doshion Veolia
Water Solutions Private Limited |
|
Address of the
registered office or of the principal place of business in |
347, Warehousing
Complex, ACME |
|
This form is for |
Modification of
Charge |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
IL and FS Trust Company Limited, IL and FS Financial Centre, Plot No.
C22 G Block Bandra Kurla Complex, Bandra East, Mumbai-400051, |
|
Nature of
instrument creating charge |
Indenture of
Mortgage |
|
Date of instrument
Creating the charge |
03.05.2010 |
|
Amount secured by
the charge |
Rs. 2770.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
charged as per rates prescribed by financing Bank/ Institutions form time to
time Terms of
Repayment Working Capital
repayable on demand. Term Loan Repayment as per schedule prescribed by
Financing Institutions. Margin As prescribed by
financing Bank/ Institutions form time to time. Extent and
Operation of the charge Charge on
immovable assets in favour of security trustee ranking first pari passu
amongst consortium lenders namely Bank of Baroda, IDBI Bank Limited, Union
Ban of India, Standard Chartered Bank and Ranking second charge in favour of
L and T infrastructure finance company Limited |
|
Date of
instrument modifying the charge |
14.12.2009 |
|
Particulars of
the present modification |
The credit facilities
aggregating to Rs. 2770.000 Millions presently secured by way of
hypothecation over movable/ current assets of the company is now further
secured by mortgage of immovable assets of the company. |
|
This form is for |
Creation of charge
|
|
Charge
identification number of the modified |
- |
|
Corporate
identity number of the company |
U41000MH2007PTC173486 |
|
Name of the
company |
Doshion Veolia
Water Solutions Private Limited |
|
Address of the registered
office or of the principal place of
business in |
347, Warehousing
Complex, ACME |
|
Type of charge |
Book Debts Movable Property Floating Charge Immovable property Any interest in immovable property |
|
Particular of
charge holder |
U72900MH2001PLC132441 3i Infotech
Trusteeship Services Limited 3rd to 6th floor,
|
|
Nature of
description of the instrument creating or modifying the charge |
Tripartate Agrement
between Doshion Limited, Doshion Veolia Water Solutions Private Limited and
3i Infotech Trusteeship Services Limited acting as a security trustee for the
lender i.e. ICICI Bank Limited |
|
Date of
instrument Creating the charge |
01.06.2009 |
|
Amount secured by
the charge |
Rs.557.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per the Master
facility agreement dated 24th October, 2007 and Corporate Rupee Loan facility
agreement dated 31st October, 2007. Terms of
Repayment As per the Master
facility agreement dated 24th October, 2007 and Corporate Rupee Loan facility
agreement dated 31st October, 2007. Margin As per the Master
facility agreement dated 24th October, 2007 and Corporate Rupee Loan facility
agreement dated 31st October, 2007. Extent and
Operation of the charge The charge of the
Bank extends to the principal amount of the loan together with interest,
costs, comission, charges and other moneys payable by the Borrower to the
Bank. Extent of charge is more particularly described in Annexure I attached
herewith. Others NIL |
Fixed Assets:
·
·
Buildings
·
Plant and Machinery
·
Electrical Fittings
·
Furniture, Fixture and
Office Equipments
·
Vehicles
AS PER WEBSITE
Profile:
Today while completing the 31 glorious years of
service, they proudly introduce a better organization. Today, they are better because
they have much broader market capability and a more diverse work force to
address the customer's evolving needs.
Dedicated to purification of water and in turn
protection of the environment, with over thousand projects in almost all
possible applications of water treatment in every industry, they have been
combining systematically innovative technologies with economic products since
last 3 decades.
In the drive to become a globally recognized
service provider; they offer a complete gamut of technologies, manufacturing
capabilities, project management and engineering infrastructure covered under
one roof. They have dedicated the all resources to deliver innovative, cost
effective and reliable drinking water and industrial pure water solution to the
customers everywhere.
Water is the very picture of change, flux, and
transformation. No two moments are alike. Taking clue from nature, they have
blended themselves to these virtues of water and endeavor to change themselves
like water.
To some of you, who are meeting them for the first
time, they say "Thank you" for letting them make a first impression -
one that they hope will convince you beyond any doubt that they can be the
preferred water purification supplier.
To those who already know us, they invite you to
take a fresh look at who they are today. With a clear focus on water, they are
upgrading themselves with most advanced technologies as a solution oriented
company that makes decision based on customer requirements and the latest
market needs.
They strive to serve the customers everyday
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.44.85 |
|
|
1 |
Rs.73.29 |
|
Euro |
1 |
Rs. 64.89 |
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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.