MIRA
INFORM REPORT
|
Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
TOP VICTORY INVESTMENTS LIMITED |
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Indian Operation Office : |
201-205, Tower B, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
01.01.1900 |
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FCRN No.: |
F01815 |
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Capital
Investment/ Paid-up Capital/ Funds from Head
Office: |
Rs. 14.503 Millions |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKT00904B |
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Legal Form : |
Foreign
Registered Company |
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Line of Business : |
Trader of a Computer Monitors and sourcing of Raw Materials for the
Production of Computer Monitors. |
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No. of Employees: |
100 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 280000 |
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Status : |
Branch of a Foreign Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed Company having satisfactory
track. It is a branch of a foreign registered company. Trade relations are fair.
Business is active. Payments are reported as usually correct and as per
commitments. The Company can be considered normal for business dealings at usual
trade terms and conditions. Latest Profit and loss of the company is not available |
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 PARTED BY
|
Name : |
Mr. Pooran |
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Designation : |
Accountant |
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Contact No.: |
91-124-2806116 |
LOCATIONS
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Indian Operation
Office/Corporate Office |
201-205, Tower B, |
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Tel. No.: |
91-124-2806116/ 17 |
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Email : |
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Website : |
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Head Office 1 : |
502, Tower B, |
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Head Office 2: |
R.S. No. 57/1, |
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Branches 1 : |
1114, East Wing, |
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Tel No : |
91-80-41232300 / 01 |
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Fax No: |
91-80-41232302 |
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Branch office 2 : |
303 A, B-Wing, 3rd Floor, VIP Plaza, Off New Link Road,
Oshiwara, Andheri (W), Mumbai, 400 053, India. |
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Tel No : |
91-22-32653993 |
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E-mail: |
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Braches 3 : |
No. 5, |
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Branch 4: |
522, Tobacco House, 1 Old Court House Corner, 4th Floor, Kolkata-700001,
West |
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Fax No.: |
91-33-22150934 |
DIRECTORS
As on 31.03.2008
|
Name : |
Dr. Husan Jason |
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Designation : |
Director |
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Date of Birth/Age : |
60 years |
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Name : |
Mr. Houng Yu-Te |
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Designation : |
Director |
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Date of Birth/Age : |
58 years |
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Name : |
Mr. Lin Yeun-Wu |
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Designation : |
Director |
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Date of Birth/Age : |
55 years |
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Name : |
Mr. Djuhar Sutanto |
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Designation : |
Director |
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Date of Birth/Age : |
52 years |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh Gupta |
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Designation : |
Country Manager |
BUSINESS DETAILS
|
Line of Business : |
Trader of a Computer Monitors and sourcing of Raw Materials for the
Production of Computer Monitors. |
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Products : |
v
Computer v
Computer Hardware
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GENERAL INFORMATION
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Customers : |
Wholesalers |
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Employees : |
100 (Approximately) |
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Bankers : |
HSBC Bank, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Oberoi Sood and Kapoor Chartered Accountants |
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Address : |
606, Vishal Bhavan, 95, |
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Tel. No.: |
91-11-26416942/ 26429297 |
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Fax No.: |
91-11-26480027 |
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E-Mail : |
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Holding Company: |
TPV Technologies Limited |
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Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Funds from Head Office: Rs.14.503 millions
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] Funds from Head Office |
14.503 |
14.503 |
14.502 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
54.437 |
0.000 |
122.292 |
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4] (Accumulated Losses) |
0.000 |
[2.363] |
0.000 |
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NETWORTH |
68.940 |
12.140 |
136.794 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
68.940 |
12.140 |
136.794 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.810 |
6.003 |
7.051 |
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Capital work-in-progress |
0.414 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
46.861 |
90.283 |
0.138 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
126.057
|
75.419
|
318.577
|
|
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Sundry Debtors |
694.069
|
422.528
|
758.800
|
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Cash & Bank Balances |
29.760
|
14.274
|
13.176
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
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Loans & Advances |
122.496
|
114.757
|
124.480
|
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Total
Current Assets |
972.382
|
626.978
|
1215.033
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
832.263
|
585.362 |
915.477
|
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Other Current Liabilities |
20.457
|
37.610
|
76.326
|
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Provisions |
103.807
|
88.152
|
93.625
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Total
Current Liabilities |
956.527
|
711.124
|
1085.428
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Net Current Assets |
15.855
|
[84.146]
|
129.605
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
68.940 |
12.140 |
136.794 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
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|
31.03.2008 |
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SALES |
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Income |
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3406.664 |
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Brand Promotion Support From H.O. |
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|
19.094 |
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Other Income |
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|
93.639 |
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TOTAL (A) |
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3519.397 |
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Less |
EXPENSES |
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|
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Cost of Goods Sold |
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|
3277.303 |
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Personal Cost |
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|
21.486 |
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Administrative Expenses |
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|
22.132 |
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Selling and Distribution Expenses |
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|
82.068 |
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Fixed Assets Written off |
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|
0.266 |
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TOTAL (B) |
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3403.255 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
116.142 |
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Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
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|
116.142 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.883 |
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PROFIT BEFORE
TAX (E-F) (G) |
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|
115.259 |
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Less |
TAX (I) |
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50.200 |
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PROFIT AFTER TAX
(G-I) (J) |
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|
65.059 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
57.321 |
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Less |
Tax
adjustment for earlier years |
|
|
0.050 |
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Less: |
Adjustment due
to transitional provision of AS-15 |
|
|
0.038 |
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BALANCE CARRIED TO
THE B/S |
|
|
122.292 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
|
|
7.497 |
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TOTAL EARNINGS |
|
|
7.497 |
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IMPORTS |
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Raw Materials |
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|
2797.378 |
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Finished Goods |
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|
0.000 |
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TOTAL IMPORTS |
|
|
2797.378 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
1.84
|
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
3.38
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
7.57
|
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.84
|
|
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Debt Equity Ratio (Total Liability/Networth) |
|
13.87
|
58.58
|
7.93
|
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Current Ratio (Current Asset/Current Liability) |
|
1.02
|
0.88
|
1.12
|
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- HCl
- Vipro
Fixed Assets
v Computer
v Furniture and Fixture
v Office Equipment
v Vehicles
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 :
They 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.
They 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.44.72 |
|
|
1 |
Rs.73.47 |
|
Euro |
1 |
Rs.65.38 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--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 |
|
63 |
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.