MIRA
INFORM REPORT
|
Report Date : |
25.06.2010 |
IDENTIFICATION DETAILS
|
Name : |
MOTHERSON TECHNO TOOLS LIMITED |
|
|
|
|
Formerly Known
As : |
MOTHERSON TRIPLEX
TOOLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, F -7, Block B-1, Mohan
Co-Operative Industrial Estate, |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
20.07.1992 |
|
|
|
|
Com. Reg. No.: |
55-49607 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.33.458 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL1992PLC049607 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM09472B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM5685K |
|
|
|
|
Legal Form : |
A Closely held
Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing and sale of Cutting Tools and EDM
Wire. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 1700000 |
|
|
|
|
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 and a reputed company having fine track. Trade relations are
fair. Financial position on the company appears to be sound. Business is
active. Payments are reported to be regular and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
2nd Floor, F -7, Block B-1, Mohan
Co-Operative Industrial Estate, |
|
Tel. No.: |
91-11-40555940 |
|
Fax No.: |
91-11-40555940 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
43, Community Centre, Bhagera
House, New Friends Colony, |
|
Tel. No.: |
91-11-26842174 / 24510042 /
51627490 |
|
Fax No.: |
91-11-26842174 / 51627490 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head
Office / Factory 1 : |
A-9/A, Sector 16, Noida – 201 301, Dist. Gautam
Budh Nagar, |
|
Tel. No.: |
91-120-2510754/2510755/ 55 /59 / 2510759/2510045 |
|
Fax No.: |
91-120-2510047 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at :- ·
905, B Wing, Mittal Tower, Tel.
91-80-5599700/5325136 Fax.
91-80-5325137 E-mail.
Bangalore@mttl.motherson.com ·
41/11, A/B/2, Velappanchavadi, Thiruverkadu,
Chennai – 600 077, Tel.
91-44-26492421/26492443/26490331 Fax.
91-44-26274619 E-mail.
Chennai@mttl.motherson.com ·
129/2, Sanghvi Compound, Tel.
91-20-27458685/7477971 Fax.
91-20-27477525/7475146 E-mail.
pune@mttl.motherson.com ·
New No.71, 6, Y Block, 5th ·
1, Navketan Industrial Estate, Shed No. H-3,01, Saif Zone, |
DIRECTORS
As on 29.05.2010
|
Name : |
Mr. Vivek Chand Sehgal |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
28.09.1956 |
|
Date of Appointment : |
20.07.1992 |
|
DIN No. : |
00291126 |
|
|
|
|
Name : |
Mr. Katsuhide Kurasaka |
|
Designation : |
Director |
|
Address : |
4-8-14, Minami Hanayashiki, kawanishi, Hyogo – 660 026, |
|
Date of Birth/Age : |
01.11.1946 |
|
Date of Appointment : |
19.10.2005 |
|
DIN No. : |
00300232 |
|
|
|
|
Name : |
Mr. Kunihiro Tomita |
|
Designation : |
Director |
|
Address : |
17-10, Atagoyama Nishinomiya - 6620871, |
|
Date of Birth/Age : |
07.09.1955 |
|
Date of Appointment : |
25.04.2009 |
|
DIN No. : |
02625726 |
|
|
|
|
Name : |
Mr. Ashok Tandon |
|
Designation : |
Director |
|
Address : |
H1A, 141 |
|
Date of Birth/Age : |
20.02.1951 |
|
Date of Appointment : |
18.12.2003 |
|
DIN No.: |
00032733 |
|
|
|
|
Name : |
Mr. Laksh Vaaman Sehgal |
|
Designation : |
Director |
|
Address : |
B 300, New Friends Colony, |
|
Date of Birth/Age : |
29.11.1982 |
|
Date of Appointment : |
27.09.2005 |
|
DIN No.: |
00048584 |
|
|
|
|
Name : |
Mr. Ramesh Dhar |
|
Designation : |
Director |
|
Address : |
J 43, Sector 41, Noida – 201 301, |
|
Date of Birth/Age : |
19.04.1950 |
|
Date of Appointment : |
27.09.2005 |
|
DIN No.: |
00085046 |
|
|
|
|
Name : |
Mr. Vivek Avasthi |
|
Designation : |
Director |
|
Address : |
B 1/6, Vasant Vihar, |
|
Date of Birth/Age : |
10.11.1961 |
|
Date of Appointment : |
27.09.2005 |
|
DIN No.: |
00033876 |
|
|
|
|
Name : |
Mr. Ajay Dulloo |
|
Designation : |
Director |
|
Address : |
A-1/302, Satyam Apartments, Vasundhra Enclave, |
|
Date of Birth/Age : |
12.06.1969 |
|
Date of Appointment : |
28.08.2009 |
|
Date of Ceasing : |
17.03.2010 |
|
|
|
|
Name : |
Mr. Chandra Shekhar Panda |
|
Designation : |
Director |
|
Address : |
E-24, First Floor, |
|
Date of Birth/Age : |
08.02.1956 |
|
Date of Appointment : |
10.09.2010 |
|
DIN No.: |
00196041 |
|
|
|
|
Name : |
Mr. Tatsuya Teramoto |
|
Designation : |
Director |
|
Address : |
18, Paschimi Marg, Vasant Vihar, |
|
Date of Birth/Age : |
04.08.1971 |
|
Date of Appointment : |
29.04.2010 |
|
Date of Ceasing : |
29.05.2010 |
|
DIN No.: |
03059722 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.05.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vivek Chaand Sehgal |
|
99450 |
|
Radha Rani Holdings PTE
Limited, |
|
400000 |
|
Samvardhana Motherson Finance Limited, |
|
479463 |
|
|
|
100 |
|
Laksh Vaaman Sehgal |
|
100 |
|
Puneet Saim |
|
100 |
|
JSRR Holdings (M) Private Limited, |
|
1530000 |
|
Sumitomo Electric Industries Limited, |
|
836438 |
|
Rohitash Gupta |
|
100 |
|
|
|
|
|
Total |
|
3345751 |
As on 29.05.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
82.69 |
|
Bodies
corporate |
|
14.34 |
|
Directors
or relatives of directors |
|
2.97 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and sale of Cutting Tools and EDM
Wire. |
||||
|
|
|
||||
|
Products : |
-
Hardened Steel Machining -
Precision Cast Iron Machine -
Roll Turning -
Valve Seat Machining -
Heat Resistant Alloy Machining
|
PRODUCTION STATUS AS ON 31.03.2010
The annual
installed capacities details are :
|
Particulars |
Fig
in Units |
|
Cutting Tools |
219800 |
|
Drills |
12000 |
|
Actual Production |
111933 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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Bankers : |
·
Axis
Bank Limited B-2 and B-3, Sector 16, Noida – 201 301, ·
Bank of Tokyo Mitsubishi Limited, Sansad Marg,
·
Citibank, · Indian Overseas Bank Address: F -47, |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
** Secured against Hypothecation of Machines, Building, Stock lying in
factory depot and elsewhere including those in transit, company’s all present
and future Book Debts / Receivables. * Secured by way of hypothecation of specific vehicles, installments
of principal amounts due within one year are of Rs.0.425 million. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P R Mehra and Company Chartered Accountant |
|
Address : |
56, Darya Ganj, |
|
Tel. No.: |
91-11-23274910/23271236 |
|
Fax No.: |
91-11-23287390 |
|
|
|
|
Associates : |
·
Motherson Sumi Systems Limited ·
Kyungshin Industrial Motherson Limited ·
Balda Motherson Solution lndia Limited ·
Motherson Air Travel Agencies Limited ·
MothersonSumi lnfotech & Designs Limited ·
Miyazu Motherson Engineering Design Limited ·
Webasto Motherson Sunroofs Limited ·
Fritzmeier Motherson Cabin Engineering Limited ·
Calsonic Kansei Motherson Auto Products Limited ·
Southcity Motors Limited ·
Anest lwata Motherson Limited ·
Motherson Auto Limited ·
Motherson(Partnership Firm) ·
Magneti Marelli Motherson Auto System Limited ·
Woco Motherson Elastomer Limited ·
A!oco Motherson Advanced Rubber Technologies
Limited ·
Spheros Motherson Thermal System Limited ·
Nachi Motherson Tool Technology Limited ·
Field Motor Private Limited ·
CTM India Limited ·
Motherson Zanotti Refrigeration System Limited ·
Nissin Advanced Coating lndo Co Limited ·
Air Factory Energy Limited ·
Motoman Motherson Robotics Limited ·
Matsui Technologies lndia Limited ·
Sumi Motherson lnnovative Engineering Limited ·
Samvardhana Motherson Virtual Analysis Limited ·
SMR Automotive Systems lndia Limited ·
Ganpati Auto Industries) (Partnership Firm) ·
Vaaman Auto Industry (Partnership Firm) ·
Tigers Connect Travel Systems and Solutions
Limited ·
Motherson Advanced Tooling Solutions Limiied ·
Motherson Machinery and Automations Limited ·
Sisbro Motor and Workshop Private Limited ·
Spirited Auto Car (I) Limited ·
AS1 Motherson Communications Solutions Limited ·
Motherson Engineering Research and Integrated
Technologies Limited ·
Style Motors Limited ·
Moon Meadows Private Limited ·
A Basic Concepts Designs lndia Private Limited ·
Motherson Innovative Technologies and Research |
|
|
|
|
Subsidiaries : |
Motherson Techno Tools |
|
|
|
|
Joint Venture : |
·
Samvardhana
Motherson Finance Limited ·
Sumitomo
Electric Hardmetal Corporation, ·
JSRR
Holdings [M] Private Limited ·
Radha
Rani Holdings [Pte.] Limited |
CAPITAL STRUCTURE
As on 29.05.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3345751 |
Equity Shares |
Rs.10/- each |
Rs.33.458
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
33.458 |
33.458 |
33.458 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
386.195 |
332.936 |
309.996 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
419.653 |
366.394 |
343.454 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
13.170 |
1.362 |
|
|
2] Unsecured Loans |
0.613 |
1.003 |
0.000 |
|
|
TOTAL BORROWING |
0.613 |
14.173 |
1.362 |
|
|
DEFERRED TAX LIABILITIES |
9.200 |
9.957 |
8.889 |
|
|
|
|
|
|
|
|
TOTAL |
429.466 |
390.524 |
353.705 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
195.647 |
155.050 |
131.628 |
|
|
Capital work-in-progress |
8.031 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.818 |
1.818 |
1.818 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
68.073
|
58.514 |
59.110 |
|
|
Sundry Debtors |
122.104
|
96.234 |
138.612 |
|
|
Cash & Bank Balances |
24.689
|
8.800 |
106.201 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
118.742
|
141.028 |
31.475 |
|
Total
Current Assets |
333.608
|
304.576 |
335.398 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
48.942
|
22.622 |
42.252 |
|
|
Other Current Liabilities |
30.495
|
24.934 |
31.662 |
|
|
Provisions |
30.201
|
23.364 |
41.225 |
|
Total
Current Liabilities |
109.638
|
70.920 |
115.139 |
|
|
Net Current Assets |
223.970
|
233.656 |
220.259 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
429.466 |
390.524 |
353.705 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
505.231 |
407.598 |
417.675 |
|
|
|
Job Work |
11.688 |
9.968 |
13.737 |
|
|
|
Other Income |
14.162 |
16.802 |
11.238 |
|
|
|
TOTAL (A) |
531.081 |
434.368 |
442.650 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other expenses |
233.590 |
206.867 |
183.896 |
|
|
|
Cost of Traded Goods |
146.319 |
134.993 |
117.542 |
|
|
|
TOTAL (B) |
379.909 |
341.860 |
301.438 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
151.172 |
92.508 |
141.212 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.678 |
1.032 |
1.042 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
150.494 |
91.476 |
140.170 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
30.162 |
20.239 |
17.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
120.332 |
71.237 |
123.010 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
41.914 |
28.726 |
43.909 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
78.418 |
42.511 |
79.101 |
|
|
|
|
|
|
|
|
|
Add |
Adjustment for
Taxation of prior years profit for the year |
0.200 |
0.000 |
1.330 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
7.862 |
4.251 |
8.043 |
|
|
|
Proposed Dividend |
21.747 |
16.728 |
33.458 |
|
|
|
Tax on Dividend |
3.612 |
2.843 |
5.686 |
|
|
BALANCE CARRIED
TO THE B/S |
45.397 |
18.689 |
33.244 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission |
0.877 |
4.209 |
0.000 |
|
|
|
FOB value of Exports |
8.122 |
7.496 |
7.313 |
|
|
TOTAL EARNINGS |
8.999 |
11.705 |
7.313 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
148.915 |
104.766 |
87.628 |
|
|
|
Raw Materials |
68.601 |
38.838 |
37.056 |
|
|
|
Capital Goods |
61.415 |
23.079 |
0.886 |
|
|
|
Others |
26.000 |
8.711 |
8.767 |
|
|
TOTAL IMPORTS |
304.931 |
175.394 |
134.337 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.50 |
12.71 |
24.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
14.77
|
9.79 |
17.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
23.82
|
17.48 |
29.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.74
|
15.50 |
26.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.19 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.26
|
0.23 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.04
|
4.29 |
2.91 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
|
Corporate
identity number of the company |
U74999DL1992PLC049607 |
||||||||||
|
Name of the
company |
MOTHERSON TECHNO TOOLS LIMITED |
||||||||||
|
Address of the
registered office or of the principal place of business in |
2nd Floor, F -7, Block B-1, Mohan
Co-Operative Industrial Estate, |
||||||||||
|
This form is for |
Modification
of charge |
||||||||||
|
Charge
identification (ID) number of the charge to be modified |
90064349 |
||||||||||
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property ·
Floating
charge ·
Others On all current and fixed assets of the company |
||||||||||
|
Particular of
charge holder |
Axis Bank Limited B-2 and B-3,
Sector 16, Noida – 201 301, |
||||||||||
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation dated April 7th 2011 Memorandum of
Entry dated April 7th 2011 and Declaration cum Deed of
Confirmation for the extension of mortgage and Record of Mortgage by deposit
of Title Deeds dated April 8th 2011 |
||||||||||
|
Date of
instrument Creating the charge |
07.04.2011 |
||||||||||
|
Amount secured by
the charge |
Rs.50.000
millions |
||||||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit –
Base rate plus 4% p.a. payable monthly FCDL – As per
rates determined by Treasury BG/LC – 50% of
Bank Standard Charges LER – Bank
Standard Charges Terms of
Repayment Cash Credit – On
Demand FCDL – 6 months BG – Max 18 months
including claim period LC – Max 180 days
inclusive of usance LER – 12 months Margin Cash Credit –
Inventory 25%, Book Debts 25% FCDL – NA BG – 25% LC – 25% LER - Nil Extent and
Operation of the charge The charge shall
operate for credit limit of Rs.50.000 millions sanctioned to the company
together with interest commission, legal and other costs, charges payments
etc. relation to the incidental to the security charged. |
||||||||||
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
·
First
charge on the entire present and future current asset of the company ·
First
charge on the present and future moveable fixed assets of the company
excluding vehicles ·
Equitable
Mortgage of land and building at Plot No. 9A Block A Sector 16 Noida |
||||||||||
|
Particulars of
the present modification |
The modification
has been done by availing of various sub limits as below :
|
CONTINGENT LIABILITIES
|
Particulars |
As on 31.03.2010 Rs. in millions |
As on 31.03.2009 Rs. in millions |
|
Tax and duties |
Nil |
3.582 |
|
Liability Against Sales Tax Forms under
collection |
73.589 |
62.433 |
|
Duty Obligations under EPCG against export obligations
complete, but pending for statutory compliance |
6.373 |
5.500 |
|
Bank Guarantee for custom duty |
Nil |
0.750 |
FIXED
ASSETS:-
·
·
Building
·
Computer
·
Furniture
and Fixture
·
Office
Equipments
·
Vehicles
·
Plant
and Machinery
·
Electrical
Installation
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.94 |
|
|
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.64.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
59 |
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.