MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALFA LAVAL INDIA LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
15.12.1937 |
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Com. Reg. No.: |
002732 |
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Capital
Investment / Paid-up Capital : |
Rs.181.604
Millions |
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CIN No.: [Company Identification
No.] |
L29299PN1937PLC002732 |
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Legal Form : |
Public Limited Liability Company. The company’s shares are listed on the
Stock Exchanges. |
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Line of Business
: |
Manufacturer of Process Vessels, Fermenters, Reactors. |
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No. of Employees
: |
12600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 16889360 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Alfa Laval Group, a multinational operations. It
is a well established and reputed company having excellent track. Financial
position is good. Fundamentals are strong and healthy. Trade relations are
fair. Payments are regular and as per commitments. The company can be considered good for any 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 DECLINED BY
|
Name : |
Mr. Abhijeet Bhele |
|
Designation : |
Accounts Manager |
|
Date : |
27.06.2011 |
LOCATIONS
|
Registered/ Head Office/ Factory 1 : |
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Tel. No.: |
91-20-27107100/ 66119100/ 27147721/ 7728/ 776321/ 797711 |
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Fax No.: |
91-20-27147711/ 779479 |
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E-Mail : |
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Website : |
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Factory 2 : |
Gat Nos.30 to 33 and 74 to 82, |
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Tel. No.: |
91-2113-282367 |
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Fax No.: |
91-2113-282301 |
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E-Mail : |
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Factory 3 : |
E-7/ E-8, M.I.D.C. Estate, Satara - 415 004, |
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Tel. No.: |
91-2162-244503 |
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Fax No.: |
91-2162-244268 |
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v
Plot
No. R-674, MIDC Rebale, TTC Industrial Area, Post Ghansoli, Navi Mumbai - 400
701, v
C-6,
Industrial Estate, S.No.39, |
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Sales and Service Network : |
Located at: v
v
v
v Chennai v
v
v
v
v
v
v Kolkata v Mumbai v
v
v Pune v
v
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DIRECTORS
As on 31.12.2009
|
Name : |
Mr. Giuseppe Falciola |
|
Designation : |
Chairman |
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|
Name : |
Mr. Jose Hernanz |
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Designation : |
Managing Director |
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Name : |
Mr. Peter Leifland |
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Designation : |
Non Executive Director |
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|
Name : |
Mr. Kamaljit Singh |
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Designation : |
Chairman Emeritus |
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|
Name : |
Mr. Ashok .M Advani |
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Designation : |
Non Executive Independent Director |
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Name : |
Mr. Kewal Handa |
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Designation : |
Non Executive Independent Director |
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Name : |
Mr. Ravi Krishnamurthi |
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Designation : |
Non Executive Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. V. Chandrasekhar |
|
Designation : |
Company Secretary |
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Name : |
Crawford Bayley and Company |
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Designation : |
Legal Advisers |
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|
Name : |
Mr. Abhijeet Bhele |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
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|
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|
|
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|
16,120,281 |
88.77 |
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|
16,120,281 |
88.77 |
|
Total shareholding
of Promoter and Promoter Group (A) |
16,120,281 |
88.77 |
|
(B) Public
Shareholding |
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|
|
|
|
|
|
|
349 |
- |
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|
8,460 |
0.05 |
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|
215 |
- |
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|
9,024 |
0.05 |
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|
|
|
|
|
69,231 |
0.38 |
|
|
|
|
|
|
1,855,259 |
10.22 |
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|
56,422 |
0.31 |
|
|
50,266 |
0.28 |
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|
50,266 |
0.28 |
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|
2,031,178 |
11.18 |
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Total Public
shareholding (B) |
2,040,202 |
11.23 |
|
Total (A)+(B) |
18,160,483 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
- |
- |
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- |
- |
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- |
- |
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|
- |
- |
|
Total
(A)+(B)+(C) |
18,160,483 |
- |
(1) Indian
Bodies Corporate
Individual shareholders holding nominal
share capital up to Rs.0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacturer of Process Vessels, Fermenters, Reactors. |
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Products: |
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PRODUCTION STATUS
AS ON 31.12.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Separators |
Quantity in Nos.
|
3000 |
3106 |
|
Decanters |
Quantity in Nos.
|
840 |
780 |
|
Plate Heat Exchangers and Spiral Heat Exchangers |
Quantity in Nos.
|
4850 |
5429 |
|
Air Heat Exchangers |
Quantity in Nos.
|
100 |
314 |
|
Lubricating Oil Filters |
Quantity in Nos.
|
350 |
216 |
|
Fabrication Equipment |
Quantity in Nos.
|
1450T |
641T |
|
Aseptic Module |
Quantity in Nos.
|
480 |
217 |
|
Shell and Tube Heat Exchangers |
Quantity in Nos.
|
250 |
510 |
|
Stainless Steel Pumps |
Quantity in Nos.
|
2700 |
2783 |
|
Valves |
Quantity in Nos.
|
20000 |
23864 |
Notes:
(A) Licensed
Capacity not being applicable, has not been indicated.
(B) Installed
capacity has been certified by the Company, this being a technical matter.
(C ) Previous
year’s figures are indicated in brackets.
(D) Quantity for
fabrication equipment stated in tonnes.
(E) Difference in
quantitative tally represents free supplies / captive consumption.
(F) As the
manufactured components are intermediate products, in view of the practical
difficulties, the disclosure in relation to production and stock is not
furnished.
(G) Since trading items
do not individually account for 10% or more of the opening stock, total
purchases and closing stock, separate quantitative details are not given.
GENERAL INFORMATION
|
No. of Employees |
12600 (Approximately) |
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Bankers : |
v
Bank of v Standard Chartered Bank v
Bank of v Industrial Development Bank of India Limited v The Hongkong and Shanghai Banking Corporation Limited |
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Facility: |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.R. Batliboi and Associates Chartered Accountants |
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Ultimate
Holding Company: |
Alfa Laval AB, Sweden |
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Holding
Company: |
Alfa Laval Corporate AB, Sweden |
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Fellow Subsidiaries : |
Australia ·
Alfa Laval Australia Pty Limited Belgium ·
Alfa Laval Corporate AB Belgian Branch Brazil ·
Alfa Laval Ltda Bulgaria ·
Alfa Laval Limited. Canada ·
Alfa Laval Inc Chile ·
Alfa Laval S.A.C.I China ·
Alfa Laval (China) Limited ·
Alfa Laval Flow Equipment (Kunshan) Company
Limited ·
Alfa Laval (Jiangyin) Manufacturing Company
Limited ·
Alfa Laval (Shanghai) Technologies Company
Limited Czech Republic ·
Alfa Laval Spol S.R.O Denmark ·
Alfa Laval Copenhagen A/S ·
Alfa Laval Tank Equipment A/S ·
Alfa Laval Kolding A/S ·
Alfa Laval Nakskov A/S ·
Alfa Laval Nordic A/S ·
Scandi Brew Finland ·
Alfa Laval Nordic OY ·
Alfa Laval Vantaa OY France ·
Alfa Laval Vicarb SAS ·
Alfa Laval SAS ·
Alfa Laval Spiral SAS ·
Alfa Laval Moatti SAS ·
MCD SAS ·
Packinox SA Germany ·
Alfa Laval Mid Europe GmbH Greece ·
Alfa Laval AEBE ·
Hungary ·
Alfa Laval Kft India ·
Alfa Laval Support Services Private Limited ·
Tranter India Private Limited Indonesia ·
PT Alfa Laval Italy ·
Alfa Laval SpA ·
Astepo SRL Japan ·
Alfa Laval KK South Korea ·
Alfa Laval Korea Limited Malaysia ·
Alfa Laval (Malaysia) Sdn Bhd Netherlands ·
Alfa Laval Groningen B.V. ·
Alfa Laval Merco B.V. ·
Alfa Laval Benelux B.V. New Zealand ·
Alfa Laval New Zealand Pty Limited Norway ·
Alfa Laval Nordic A/S Philippines ·
Alfa Laval Philippines Inc Poland ·
Alfa Laval Polska Sp. z. o. o ·
Alfa Laval Krakow Sp, z. o. o Russia ·
AO Alfa Laval Potok Singapore ·
Alfa Laval Singapore Pte Limited Spain ·
Alfa Laval Iberia SA Sweden ·
Alfa Laval Tumba AB ·
Alfa Laval Treasury International AB ·
Alfa Laval Holding AB ·
Alfa Laval Lund AB ·
Alfa Laval Nordic AB ·
Alfa Laval Quality Moving AB Taiwan ·
Alfa Laval Taiwan Limited Thailand ·
Alfa Laval (Thailand) Limited Turkey ·
Alfa Laval Makine Sanayii ve Ticaret Limited Sti. UAE ·
Alfa Laval Middle East Limited United Kingdom ·
Alfa Laval Limited. ·
Alfa Laval Pumps Limited USA ·
Alfa Laval Inc. ·
Alfa Laval Thermal Inc. ·
Alfa Laval Distribution Inc. Venezuela ·
Alfa Laval Venezolana S.A. |
CAPITAL STRUCTURE
AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18160567 |
Equity Shares (Equity shares of
Rs.10 each of which 84 (previous year 84) equity shares whose ownership and
title are under dispute have been kept in abeyance in view of the court order
dated March 21, 1990.) |
Rs.10/- each |
Rs.181.605
Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18160483 |
Equity Shares |
Rs.10/- each |
Rs.181.604
Millions |
a) 441,845 9/10
(previous year 441,845 9/10) equity shares of Rs.10 each have been allotted as fully
paid up pursuant to contracts without payment having been received in cash;
b) 29,988
(previous year 29,988) equity shares of Rs.10 each have been allotted as fully
paid up, pursuant to the right exercised by a lender of converting a part of
the loan advanced by them to the Company;
c) 8,822,989
(previous year 8,822,989) equity shares of Rs.10 each have been allotted as
fully paid up Bonus shares by way of capitalisation of general reserve,
securities premium, capital reserve and export reserve.
* includes
16,120,281 (previous year 16,120,281) equity shares of Rs.10 each held by Alfa
Laval Corporate AB, Sweden the Holding Company
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 |
181.600 |
181.600 |
181.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4040.740 |
3593.070 |
2890.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4222.340 |
3774.670 |
3072.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
46.060 |
53.700 |
|
|
TOTAL BORROWING |
0.000 |
46.060 |
53.700 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4222.340 |
3820.730 |
3126.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
964.950 |
977.760 |
994.800 |
|
|
Capital work-in-progress |
116.490 |
23.580 |
54.900 |
|
|
|
|
|
|
|
|
INVESTMENT |
1305.510 |
1233.850 |
354.500 |
|
|
DEFERREX TAX ASSETS |
82.360 |
32.890 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1994.610
|
1759.940
|
2025.700 |
|
|
Sundry Debtors |
1980.990
|
1766.140
|
1681.800 |
|
|
Cash & Bank Balances |
522.710
|
395.050
|
237.100 |
|
|
Other Current Assets |
240.180
|
284.180
|
115.300 |
|
|
Loans & Advances |
924.100
|
605.640
|
684.800 |
|
Total
Current Assets |
5662.590
|
4810.950
|
4744.700 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1540.830
|
1221.520
|
1423.070 |
|
|
Other Current Liabilities |
1405.740
|
1294.670
|
1074.730 |
|
|
Provisions |
962.990
|
742.110
|
524.900 |
|
Total
Current Liabilities |
3909.560
|
3258.300
|
3022.700 |
|
|
Net Current Assets |
1753.030
|
1552.650
|
1722.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4222.340 |
3820.730 |
3126.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8360.340 |
8875.730 |
7993.060 |
|
|
|
Other Income |
231.990 |
121.130 |
117.420 |
|
|
|
TOTAL (A) |
8592.330 |
8996.860 |
8110.480 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Others Expenses |
6801.840 |
6990.440 |
6649.470 |
|
|
|
TOTAL (B) |
6801.840 |
6990.440 |
6649.470 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1790.490 |
2006.420 |
1461.010 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.300 |
5.250 |
3.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1785.190 |
2001.170 |
1457.750 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
127.100 |
129.570 |
99.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1658.090 |
1871.600 |
1358.570 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
576.880 |
638.210 |
456.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1081.210 |
1233.390 |
901.680 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1880.070 |
1301.850 |
1022.340 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
109.000 |
124.000 |
91.000 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
181.600 |
|
|
|
Dividend |
544.810 |
454.010 |
272.410 |
|
|
|
Tax on Dividend |
88.730 |
77.160 |
77.160 |
|
|
BALANCE CARRIED
TO THE B/S |
2218.740 |
1880.070 |
1301.850 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
59.54 |
67.92 |
49.65 |
|
QUARTERLY RESULTS
|
PARTICULARS |
31.03.2011 |
|
Type |
1st Quarter |
|
Net Sales |
2923.190 |
|
Total Expenditure |
2452.420 |
|
PBIDT (Excl OI) |
470.770 |
|
Other Income |
122.630 |
|
Operating Profit |
593.400 |
|
Interest |
0.240 |
|
PBDT |
593.160 |
|
Depreciation |
32.570 |
|
Profit Before Tax |
560.590 |
|
Tax |
182.660 |
|
Profit After Tax |
377.930 |
|
Net Profit |
377.930 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
12.58 |
13.70 |
11.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.83 |
21.08 |
16.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.01 |
32.33 |
23.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.49 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.92 |
0.87 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.47 |
1.56 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS
Rs. In Millions
|
Particulars |
31.12.2010
|
31.12.2009
|
31.12.2008 |
|
|
|
|
|
|
Total Outstanding dues of Micro and Small Enterprises |
8.600
|
8.350
|
8.570 |
|
Total Outstanding dues of Creditors other than Micro and Small
Enterprises |
1532.170
|
1213.170
|
1414.500 |
|
Sundry Creditors |
1540.830
|
1221.520
|
1423.070 |
OPERATIONS AND
FINANCIAL RESULTS:
The order intake
for the year under review, though comparatively lower against the previous year,
showed the Company’s ability to sustain volumes with small and medium size
orders without any large value order contributing to the cause. With the
Equipment Division continuing to surge ahead in the domestic market, the
Process Technology Division having a steady flow of orders though narrowly
missing out on a few large value orders and the order inflow from the
Principals slowing down, the total order intake for the year under review was
Rs. 9,052.87 M (2009:Rs. 9,799.41 M). Despite the healthy order backlog at the
commencement of the year, the sales revenues, mainly due to the spillover of
deliveries quarter on quarter ended up with a drop of about 6% at Rs. 8,360.34
M (2009:Rs. 8,875.73 M). With exchange gain and interest from loan almost
doubling the other income, the total income for the year was at Rs. 8,592.33 M
(2009:Rs. 8,996.86 M). As a result of the lower sales revenues and the rising
input prices cutting across the margins, the growth in profi tability could not
be sustained.
PROSPECTS
The jitters caused
by inflation and rising interest rates coupled with the uncertainty over policy
reforms could lead to a hold on investment decisions thereby pulling down the
performance of the manufacturing sector. On the other hand announcement of new
projects continues unabated which could trigger the movement of investment
cycle thereby creating business opportunities for the Company to move in the
direction it had set for itself. This together with a resounding order backlog
at the beginning of the year and the components business looking up, provides
scope for improvement in the sales revenues for the current year. However,
since a sizeable amount of the Company’s business is derived from Projects, the
timing of the receipt of fresh orders executable during the year together with
the scheduled implementation of the orders on hand would assume much
significance for the Company to meet the targets set for 2011 and thereon.
Overall, the Company is optimistic of a steady growth in its performance during
the current year barring unforeseen contingencies. While the Company continues
to invest in expansion of its capacities and for enhancing the effectiveness of
its factories, a sizeable capital expenditure is proposed for the current year
mainly for a new manufacturing facility at Pune which is under execution and
for sprucing up the facility at its other manufacturing sites besides
development of infrastructure to achieve optimum productivity.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Industry structure
and Development
While the world
economy is slowly ebbing out of one of the worst financial crisis of this age,
the Indian economy sustained the growth momentum during 2010 despite the high
inflationary pressure for most part of the year. The index of industrial
production witnessed a marginal increase on a cumulative basis although the
manufacturing sector could not deliver a consistent performance. However, the
farm sector development has been good with
adequate rainfall across the country and is all set to give a boost to
the economy. The performance of capital
goods industry as such was encouraging despite the slackening pace of
implementation of new projects. At the same time announcement of new projects
continues unabated. From the Company’s point of view, the business climate
continued to be testing during 2010 and the Company could not sustain its
performance both on the order intake and sales revenue fronts. However, the
continuous technological advances of the Company’s Principals as a part of its
efforts to offer products more suited to the needs of the customer and its own
innovations to offer customized process solutions, served as a solid platform
for enabling the Company to spread its reach for a deeper market penetration.
Outlook
In general, the
outlook for the business of the Company is promising with the Industry quite
keen on moving ahead with its investment decisions. The Company is gearing up
to launch some new products during the current year adding to its wide range
while the research and development activities of the Principals would
supplement the introduction of newer models of products from time to time which
should aid in market penetration in this competitive environment.
Notwithstanding the economic recovery, the current year, like the year under
review, would continue to be a challenge for achieving the targeted order
intake while the higher order backlog should help in shoring up the sales
revenues.
FIXED ASSETS:
·
Free Hold Land
·
Leasehold Land
·
Buildings and Roads
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
PRESS RELEASE
ALFA LAVAL WINS SEK 65 MILLION FOOD ORDER IN INDIA
2011-06-15
08:00:00
Alfa Laval – a world leader in heat transfer, centrifugal
separation and fluid handling – has received an order for a complete solution
to a vegetable oil plant in India. The order value is about SEK 65 million and
delivery is scheduled for 2012.
The order includes a variety of Alfa Laval products such as separators,
mixers and heat exchangers and will be used for refining different types of
crude oils – e.g. soya bean – into high quality oils.
“We continue to see a good development in India”, says Lars Renström,
President and CEO of the Alfa Laval Group. “The latest order confirms the
positive trend in the country’s food and vegetable oil industry.”
Did you know… that the Indian
edible oil industry is expected to grow 6% annually, and reach 20 million
tonnes of consumption by 2015[1].
The growth in India and other developing countries has been driven by increased
living standards and a growing population.
About Alfa Laval
Subject
is a leading global provider of specialized products and engineering solutions
based on its key technologies of heat transfer, separation and fluid handling.
The company’s equipment, systems and services are dedicated to assisting
customers in optimizing the performance of their processes. The solutions help
them to heat, cool, separate and transport products in industries that produce
food and beverages, chemicals and petrochemicals, pharmaceuticals, starch,
sugar and ethanol.
Alfa Laval’s products are also used in power plants, aboard ships, in
the mechanical engineering industry, in the mining industry and for wastewater
treatment, as well as for comfort climate and refrigeration applications.
Alfa Laval’s worldwide organization works closely with customers in
nearly 100 countries to help them stay ahead in the global arena.
Alfa Laval is listed on the Nordic Exchange, Nordic Large Cap, and, in
2010, posted annual sales of about SEK 24.7 billion (approx. 2.6 billion
Euros). The company has 12600 employees.
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.45.10 |
|
|
1 |
Rs.71.88 |
|
Euro |
1 |
Rs.63.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
73 |
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.