MIRA
INFORM REPORT
|
Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
HONEYWELL AUTOMATION INDIA LIMITED (w.e.f. March 24, 2005) |
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|
|
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Formerly Known
As : |
TATA HONEYWELL LIMITED |
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Registered
Office : |
56 and 57, Hadapsar Industrial Estate, Pune – 411 013, |
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Country : |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
13.01.1984 |
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Com. Reg. No.: |
25-017951 |
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Capital
Investment / Paid-up Capital : |
Rs.88.415 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
L29299PN1984PLC017951 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET00043B |
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Legal Form : |
A Public Limited Liability Company. The company shares are listed on the Stock
Exchanges. |
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Line of Business
: |
Manufacturer
of Control Solutions. |
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|
|
No. of Employees
: |
2500
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 21335000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Directors are reported to be
experienced and respectable businessmen. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal 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 PARTED BY
|
Name : |
Mr. Milind Dixit |
|
Designation : |
Accountant |
|
Contact No.: |
91-20-66039400 |
|
Date : |
07.06.2011 |
LOCATIONS
|
Registered/ Head Office : |
56 and 57, Hadapsar Industrial Estate, Pune – 411 013, |
|
Tel. No.: |
91-20-66039400/ 26870445/ 26870446/ 26872170/ 26870153/
66008187 |
|
Fax No.: |
91-20-66039800/ 26872205/ 26875957 |
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E-Mail : |
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|
Website : |
http://www.honeywell.com |
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Regional Offices : |
Located at: ·
·
·
Chennai ·
·
·
Kolkata ·
Mumbai ·
·
|
DIRECTORS
As on 22.04.2010
|
Name : |
Mr. Madhukar Narayan Bhagwat |
|
Designation : |
Chairman |
|
Address : |
62, Blue Haven, 14, |
|
Date of Birth/Age : |
04.06.1932 |
|
Date of Appointment : |
02.11.2004 |
|
DIN No.: |
00036692 |
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|
|
|
Name : |
Mr. Anant Hari Maheshwari |
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Designation : |
Managing Director |
|
Address : |
73, |
|
Date of Birth/Age : |
07.04.1973 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
02963839 |
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|
|
|
Name : |
Mr. Surendra Laxminarayan Rao |
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Designation : |
Director |
|
Address : |
D1, Chartered Cottage, |
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Date of Birth/Age : |
22.01.1936 |
|
Date of Appointment : |
24.01.2002 |
|
DIN No.: |
00005675 |
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|
|
|
Name : |
Gerard Milton Willis |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
27.12.1953 |
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Date of Appointment : |
01.01.2006 |
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DIN No.: |
02696947 |
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|
Name : |
Shane Shahrooz Tedjarati |
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Designation : |
Director |
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Address : |
# 58, Le Chateau 2000, |
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Date of Birth/Age : |
16.11.1962 |
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Date of Appointment : |
14.10.2008 |
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DIN No.: |
02396256 |
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|
Name : |
Norman Lee Gilsdorf |
|
Designation : |
Director |
|
Address : |
Flat # 20, Dorchester House, 8, Strand Drive, Richmond Survey, United
Kingdom, TW94DX |
|
Date of Birth/Age : |
18.12.1953 |
|
Date of Appointment : |
06.02.2009 |
|
DIN No.: |
02558302 |
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|
|
|
Name : |
Vimal Madan Kapur |
|
Designation : |
Managing Director |
|
Address : |
14, Livestonia Pal Groves II, Ghorpadi, |
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Date of Birth/Age : |
10.11.1965 |
|
Date of Appointment : |
19.11.2004 |
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Date of Ceasing : |
01.03.2010 |
|
DIN No.: |
00040249 |
KEY EXECUTIVES
|
Name : |
Ms. Sneha Prashant Padve |
|
Designation : |
Company Secretary |
|
Address : |
Building I, Flat # 8, Parmar Nagar, Fatima Nagar, Pune – 411 013,
Maharashtra, India |
|
Date of Birth/Age : |
19.04.1967 |
|
Date of Appointment : |
14.08.1996 |
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PAN No.: |
AEVPP7162B |
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|
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|
Name : |
Mr. Milind Dixit |
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Designation : |
Accountant |
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|
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|
Name : |
A.D. Gupte |
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Designation : |
Company Secretary |
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Address : |
A-21, Juhu Sun ‘N’ Sea Apartments, 33B, |
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E-Mail: |
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|
Name : |
Mr. Atul Pai |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
|
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|
7,182,475 |
81.24 |
|
|
7,182,475 |
81.24 |
|
Total shareholding of Promoter and Promoter Group (A) |
7,182,475 |
81.24 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
367,881 |
4.16 |
|
|
320 |
- |
|
|
285 |
- |
|
|
46,515 |
0.53 |
|
|
200 |
- |
|
|
200 |
- |
|
|
415,201 |
4.70 |
|
|
|
|
|
|
181,655 |
2.05 |
|
|
|
|
|
|
997,129 |
11.28 |
|
|
63,949 |
0.72 |
|
|
1,114 |
0.01 |
|
|
414 |
- |
|
|
700 |
0.01 |
|
|
1,243,847 |
14.07 |
|
Total Public shareholding (B) |
1,659,048 |
18.76 |
|
Total (A)+(B) |
8,841,523 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
8,841,523 |
- |
(1) Indian
Bodies Corporate
Corporate Body OthersBUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Control Solutions. |
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Products : |
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Brand Names : |
“TDC 3000” |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.12.2009)
|
Particulars |
Unit |
|
|
Actual
Production |
|
Systems |
Nos |
|
|
97 |
|
Transmitters |
Nos. |
|
|
8689 |
GENERAL INFORMATION
|
No. of Employees : |
2500
(Approximately) |
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Bankers : |
·
ABN – Amro Bank N.V ·
Citibank N.A, Hadapsar Branch, Pune, ·
Canara Bank ·
Bank of ·
State Bank of Travancor ·
HDFC Bank Limited ·
ICICI Bank Limited ·
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
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PAN
of auditor or auditor's firm : |
AADFP9359C |
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Holding Company : |
Honeywell Asia Pacific Inc. |
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Ultimate Holding Company : |
Honeywell International Inc. |
CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8841697 |
Equity Shares |
Rs.10/- each |
Rs.88.417 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8841523 |
Equity Shares |
Rs.10/- each |
Rs.88.415 Millions |
|
|
|
|
|
Note:
7182475 Equity Shares constituting 81.24% of
the paid-up capital of the Company are held by Hoenywell International Inc. the
ultimate holding company, through its 100% subsidiary, Honeywell Asia Pacific
Inc.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
88.415 |
88.415 |
88.415 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5245.428 |
4298.068 |
3073.585 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5333.843 |
4386.483 |
3162.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
1.248 |
23.659 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
95.999 |
|
|
TOTAL BORROWING |
0.000 |
1.248 |
119.658 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5333.843 |
4387.731 |
3281.658 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
753.143 |
717.714 |
552.680 |
|
|
Capital work-in-progress |
8.772 |
35.212 |
149.943 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
308.868 |
281.854 |
197.600 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
788.267 |
805.465 |
671.288 |
|
|
Sundry Debtors |
3215.054 |
2891.700 |
3548.834 |
|
|
Contracts in progress |
1010.354 |
0.000 |
73.336 |
|
|
Cash & Bank Balances |
2111.825 |
1060.915 |
194.692 |
|
|
Other Current Assets |
28.850 |
0.592 |
0.000 |
|
|
Loans & Advances |
1022.703 |
1642.393 |
960.880 |
|
Total
Current Assets |
8177.053 |
6401.065 |
5449.030 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2721.773 |
2051.053 |
2325.678 |
|
|
Other Current Liabilities |
541.000 |
520.922 |
398.554 |
|
|
Provisions |
651.220 |
476.139 |
343.363 |
|
Total
Current Liabilities |
3913.993 |
3048.114 |
3067.595 |
|
|
Net Current Assets |
4263.060 |
3352.951 |
2381.435 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5333.843 |
4387.731 |
3281.658 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
13547.084 |
11745.670 |
10015.280 |
|
|
|
Other Income |
90.571 |
68.055 |
118.243 |
|
|
|
TOTAL (A) |
13637.655 |
11813.725 |
10133.523 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing Expenses |
7987.505 |
6177.339 |
5457.691 |
|
|
|
Employees' Remuneration and Benefits |
2215.305 |
1942.126 |
1683.944 |
|
|
|
Selling, Administration and Other Expenses |
1916.056 |
1749.631 |
1722.817 |
|
|
|
TOTAL (B) |
12118.866 |
9869.096 |
8864.452 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1518.789 |
1944.629 |
1269.071 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
0.843 |
6.136 |
7.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1517.946 |
1938.493 |
1261.834 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
128.990 |
118.627 |
85.177 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1388.956 |
1819.866 |
1176.657 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
338.496 |
491.942 |
358.152 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1050.460 |
1327.924 |
818.505 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3090.810 |
1999.119 |
1180.614 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
88.415 |
88.415 |
0.000 |
|
|
|
Dividend Distribution Tax |
14.685 |
15.026 |
0.000 |
|
|
|
Transfer to General Reserve |
105.046 |
132.792 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
3933.124 |
3090.810 |
1999.119 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1551.131 |
1590.272 |
|
|
|
Services |
NA |
3383.190 |
2236.881 |
|
|
|
Reimbursements |
NA |
432.032 |
395.963 |
|
|
TOTAL EARNINGS |
NA |
5366.353 |
4223.116 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
45.996 |
12.359 |
|
|
|
Raw Materials |
NA |
3434.915 |
2775.217 |
|
|
TOTAL IMPORTS |
NA |
3480.911 |
2787.576 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
118.81 |
150.19 |
92.58 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
31.03.2011 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
3529.500 |
|
Total Expenditure |
|
|
3118.600 |
|
PBIDT (Excl OI) |
|
|
410.900 |
|
Other Income |
|
|
26.500 |
|
Operating Profit |
|
|
437.400 |
|
Interest |
|
|
0.000 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
437.400 |
|
Depreciation |
|
|
34.600 |
|
Profit Before Tax |
|
|
402.800 |
|
Tax |
|
|
84.700 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
318.100 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
318.100 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
7.70 |
11.24 |
8.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.25 |
15.49 |
12.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.55 |
25.64 |
19.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.41 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80 |
0.69 |
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09 |
2.10 |
1.78 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.12.2010 (Rs. in millions) |
31.12.2009 (Rs. in millions) |
31.12.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- Dues to Micro and Small Enterprises |
28.189 |
32.395 |
3.549 |
|
- Dues to creditors other than Micro and Small Enterprises |
2693.584 |
2018.658 |
2322.129 |
|
Total
|
2721.773 |
2051.053 |
2325.678 |
HISTORY:
Subject is a market leader in Electronics-Instrumentation and Process
Control equipment industry. Subject is provider of Integrated automation and
software solution that improves productivity enhancing comfort and ensuring the
safety and security to homes and business premises. The company's main products
are distributed control systems, building control systems and smart
transmitters. Subject incorporated in January 1984 as Tata Process Controls
Private Limited in
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10023282 |
|
Corporate
identity number of the company |
L29299PN1984PLC017951 |
|
Name of the company
|
HONEYWELL AUTOMATION INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
56 and 57, Hadapsar Industrial Estate, Pune – 411 013, |
|
Type of charge |
Movable Property Others (Vehicles)
|
|
Particular of
charge holder |
State Bank of E-Mail: chandra.deshpande59@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Loan-cum- Hypothecation (SME-4) executed on 22.10.2008 to create
a single charge on the vehicles to be purchased out of the loan amount
extended to the borrower company. |
|
Date of
instrument Creating the charge |
22.10.2008 |
|
Amount secured by
the charge |
Rs.52.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Open Term Loan,
the rate of interest would be 1% below of SBAR. The present effective rate
would be: 12.75%. Terms of
Repayment: Open Term Loan to
be repay in 60 monthly installments. Each installment would be of Rs.0.453 million.
The first installment commencing on October 2009 and the last installment
falls due on September 2014. Margin: 10% Extent and
Operation of the charge: The facility is
to be availed with the span of 12 months. The State Bank of India, Golibar
Maidan Branch, Camp Pune will have entire first charge on the vehicles
purchased out of the loan amount and will have to be registered with the
State Transport Authority (RTO-Pune), taking the note of first charge in the
registration book and documents related to
all vehicles to be purchased out of the loan amount provided and
acknowledged by the borrower company through its authorised persons. |
|
Short particulars
of the property charged |
All the vehicles
purchased or to be purchased out the loan amount granted by the State Bank of
India Golibar Maidan Branch, Pune will be registered in favour of the Bank,
as first charge holder and will be at the disposal of the borrower company as
the custodian of the vehicle till it square ups the entire loan amount including
interest thereon and will keep at the registered office or at the various
destinations/ locations as per the convenience of the borrower company as it
Management thinks. |
|
Date of latest
modification prior to the present modification |
15.07.2008 |
|
Particulars of
the present modification |
By this present
modification, the present limit of Rs.32.500 millions has been enhanced to
Rs.52.500 millions. |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED
31.03.2011
(Rs. in Millions)
|
Particulars |
Quarter ended 31.03.2011 (Unaudited) |
|
1. a) Net Sales / Income from Operations |
3514.700 |
|
b) Other Operating Income |
14.800 |
|
2. Expenditure |
|
|
(a) (Increase)/decrease in Stock in Trade and work in progress |
(7.200) |
|
(b) Consumption of Raw Materials & Services |
1705.800 |
|
(c) Purchase of traded goods |
285.200 |
|
(d) Employees Cost |
614.500 |
|
(e) Depreciation (including amortization) |
34.600 |
|
(f) Other Expenditure |
520.300 |
|
(g) Total
Expenditure |
3153.200 |
|
3. Profit / (Loss) From Operations before other Income Interest & Exceptional Items (1-2) |
376.300 |
|
4. Other Income |
26.500 |
|
5. Profit/(Loss) before Interest and Exceptional items (3+4) |
402.800 |
|
6. Interest |
-- |
|
7. Profit / (Loss) after interest before Exceptional items (5-6) |
402.800 |
|
8. Exceptional Items |
-- |
|
9. Profit before Tax (7+8) |
402.800 |
|
10. Tax Expenses |
84.700 |
|
11. Net Profit/(Loss) From Ordinary activities after Tax (9-10) |
318.100 |
|
12. Extraordinary Items (Net of tax expenses) |
-- |
|
13. Net Profit for the period (11-12) |
318.100 |
|
14. Paid Up Equity Share Capital ( Face Value of the share Rs.10/- each ) |
88.400 |
|
15. Reserves excluding revaluation reserves as per balance sheet of previous year) |
-- |
|
16. Earning Per
Share (EPS)- |
|
|
-Basic and Diluted before extraordinary items (not annualised) |
35.98 |
|
-Basic and Diluted after extraordinary items (not annualised) |
35.98 |
|
17. Public Share Holding |
|
|
- Number of Shares |
1659048 |
|
- Percentage of shareholding |
18.76 |
|
18. Promoters and
Promoter group share holding |
|
|
a) Pledged / Encumbered |
|
|
- Number of Shares |
Nil |
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
Nil |
|
- Percentage of shares(as a % of the total share capital of the company) |
Nil |
|
b) Non-encumbered |
|
|
- Number of Shares |
7182475 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
100 |
|
- Percentage of Share (as a % of the total share capital of the company) |
81.24 |
Notes:
1.
The above results have been
reviewed by the audit committee and were taken on record by the board of
directors in their meeting held on 21.04.2011.
2.
The company has only one
segment, automation and control as per accounting standard 17 (AS-17) – segment
reporting
3.
Other Expenditure for the
year ended December 2010 includes Rs.105.200 millions payable in respect of
various services rendered by Honeywell group companies during the prior period.
4.
Tax Expenses includes in
respect of other periods Rs.123.400 millions for the year ended December 2010
5.
Information on investor
complaints against to clause 41 of the listing agreement for the quarter ended
31.03.2011.
|
Opening balance |
Additions |
Disposals |
Closing balance |
|
0 |
0 |
0 |
0 |
6.
Previous period/ year figures
have been regrouped, wherever necessary
CONTINGENT LIABILITIES:
Rs. In Millions
|
|
|
31.12.2009 |
|
a) |
Income tax claims against the Company |
420.176 |
|
b) |
Excise duty claims against the Company* |
1.475 |
|
c) |
Sales Tax refunds/claims against the Company* |
173.992 |
|
d) |
Customs Duty claims against the Company* |
3.553| |
* Excludes penalties, if any, relating to penalty
proceedings, since the precedence indicate that the probability of levy is
remote.
Note:
Bank Guarantees given to customers- against performance/advance.
Bank Guarantees issued Rs. 2387.223 millions [Previous Year Rs. 1966.153 millions] are secured by hypothecation of present and future stocks of raw materials, semi- finished goods, finished goods, stores and spares and book debts.
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
Intangible Assets
·
Product Distribution Rights HSPL
·
Oracle License
·
Software
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.44.74 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
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.