1. Summary Information
|
|
|
Country |
|
|
Company Name |
TERA SOFTWARE
LIMITED |
Principal Name 1 |
Mr. D. Seetharamaiah |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. K. Rama Rao |
|
|
|
Registration # |
018391 |
|
Street Address |
8-3-1113/2B,
Kesava Nagar, |
||
|
Established Date |
26.09.1994 |
SIC Code |
-- |
|
Telephone# |
91-40-2373055323736833 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-40-23743526 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Software Development |
|
|
# of employees |
-- |
Product Name 2 |
Computer Services |
|
Paid up capital |
Rs. 125119,000/- |
Product Name 3 |
-- |
|
Shareholders |
Promoter and Promoter Group - 41.05% Public shareholding - 58.95% |
Banking |
Bank of |
|
Public Limited Corp. |
Yes |
Business Period |
16 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba
(48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
928,906,000 |
Current Liabilities |
326,769,000 |
|
Inventories |
1,184,000 |
Long-term Liabilities |
179,208,000 |
|
Fixed Assets |
122,893,000 |
Other Liabilities |
9,851,000 |
|
Deferred Assets |
0 |
Total Liabilities |
515,828,000 |
|
Invest& other Assets |
38,578,000 |
Retained Earnings |
450,614,000 |
|
|
|
Net Worth |
575,733,000 |
|
Total Assets |
1,091,561,000 |
Total Liab. & Equity |
1,091,561,000 |
|
Total Assets (Previous Year) |
963,205,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,045,946,000 |
Net Profit |
96,595,000 |
|
Sales(Previous yr) |
816,304,000 |
Net Profit(Prev.yr) |
104,880,000 |
MIRA
INFORM REPORT
|
Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
TERA SOFTWARE LIMITED |
|
|
|
|
Registered
Office : |
8-3-1113/2B, Kesava Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
26.09.1994 |
|
|
|
|
Com. Reg. No.: |
01-018391 |
|
|
|
|
CIN No.: [Company Identification
No.] |
L72200AP1994PLC018391 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT00610B HYDT00832G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT1332L |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Providing
integrated information technology and software solutions |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
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 : |
8-3-1113/2B, Kesava Nagar, |
|
Tel. No.: |
91-40-2373055323736833 |
|
Fax No.: |
91-40-23743526 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As On 31.03.2010
|
Name : |
Mr. D. Seetharamaiah |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. K. Rama Rao |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. T. Bapaiah Choudary |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R. S. Bakkannavar |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. T. Hanuman Chowdary |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. T.V. Lakshmi |
|
Designation : |
Director |
|
|
|
|
Name : |
Smt. T. Pavana Devi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. N. V. V. Prasad |
|
Designation : |
Executive Director |
|
Date of Birth/Age : |
50 years |
|
Qualification : |
B.Tech |
|
Experience : |
27 Years |
|
Date of Appointment : |
01.12.1999 |
|
|
|
|
Name : |
Mr. T. Gopichand |
|
Designation : |
Vice Chairman and Managing Director |
|
Date of Birth/Age : |
51 years |
|
Qualification : |
M.Tech |
|
Experience : |
28 Years |
|
Date of Appointment : |
01.09.1995 |
KEY EXECUTIVES
|
Name : |
Mr. P. S. Naidu |
|
Designation : |
Vice President (Tech) |
|
|
|
|
Name : |
Mr. A. Nageswar Rao |
|
Designation : |
Vice President |
|
|
|
|
Name : |
Mr. B. D. Naidu |
|
Designation : |
General Manager (F) |
|
|
|
|
Name : |
Mr. P. Sunil |
|
Designation : |
Vice President (Marketing) |
|
|
|
|
Name : |
Mr. Rama Narayana |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 31.12.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
5,135,665 |
41.05 |
|
|
5,135,665 |
41.05 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
5,135,665 |
41.05 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
1,428,848 |
11.42 |
|
|
|
|
|
|
3,252,309 |
25.99 |
|
|
2,378,857 |
19.01 |
|
|
316,196 |
2.53 |
|
|
181,940 |
1.45 |
|
|
120,194 |
0.96 |
|
|
14,062 |
0.11 |
|
|
7,376,210 |
58.95 |
|
Total Public shareholding (B) |
7,376,210 |
58.95 |
|
Total (A)+(B) |
12,511,875 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
12,511,875 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 millionBUSINESS DETAILS
|
Line of Business : |
Providing
integrated information technology and software solutions |
|
|
|
|
Products : |
|
|
|
|
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Narven Associates Chartered Accountant |
|
Address : |
302 and 303, Lingapur House, Himayat Nagar, |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12511875 |
Equity Shares |
Rs. 10/- each |
Rs. 125.119
Millions |
|
|
|
|
|
Note:
(2502375 Equity Shares are allotted as fully paid up bonus shares by capitalisation of General Reserve) and (Of the above 168,090 Equity Share have been allotted other wise than by cash)
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 |
125.119 |
125.119 |
125.119 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
450.614 |
375.059 |
299.454 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
575.733 |
500.178 |
424.573 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
179.208 |
163.881 |
154.188 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
70.780 |
|
|
TOTAL BORROWING |
179.208 |
163.881 |
224.968 |
|
|
DEFERRED TAX LIABILITIES |
9.851 |
11.525 |
10.835 |
|
|
|
|
|
|
|
|
TOTAL |
764.792 |
675.584 |
660.376 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
122.893 |
139.256 |
140.553 |
|
|
Capital work-in-progress |
38.578 |
27.107 |
1.014 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.184 |
0.511 |
1.442 |
|
|
Sundry Debtors |
750.678 |
692.540 |
575.296 |
|
|
Cash & Bank Balances |
145.458 |
50.282 |
57.511 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
32.770 |
53.509 |
146.985 |
|
Total
Current Assets |
930.090 |
796.842 |
781.234 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
282.583 |
213.813 |
|
|
|
Other Current Liabilities |
6.628 |
9.019 |
143.058 |
|
|
Provisions |
37.558 |
64.789 |
119.367 |
|
Total
Current Liabilities |
326.769 |
287.621 |
262.425 |
|
|
Net Current Assets |
603.321 |
509.221 |
518.809 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
764.792 |
675.584 |
660.376 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1045.946 |
816.304 |
594.070 |
|
|
|
Other Income |
11.650 |
5.140 |
5.023 |
|
|
|
TOTAL (A) |
1057.596 |
821.444 |
599.093 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
520.095 |
321.325 |
138.386 |
|
|
|
Personnel cost |
77.112 |
47.813 |
26.856 |
|
|
|
Operating and other expenses |
272.374 |
236.558 |
187.786 |
|
|
|
Prior period items |
0.801 |
(0.215) |
(3.642) |
|
|
|
TOTAL (B) |
870.382 |
605.481 |
349.386 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
187.214 |
215.963 |
249.707 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.606 |
21.621 |
24.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
171.608 |
194.342 |
225.611 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.927 |
26.645 |
38.737 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
146.681 |
167.697 |
186.874 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
50.086 |
62.817 |
69.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
96.595 |
104.880 |
117.284 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
112.484 |
86.878 |
52.470 |
|
|
|
|
|
|
|
|
|
|
EXCESS
PROVISION FOR TAX EARLIER YEAR |
0.917 |
0.002 |
(3.600) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
50.000 |
|
|
|
Proposed Final Dividend on equity shares |
18.768 |
25.023 |
25.024 |
|
|
|
Tax on distributed profit |
3.190 |
4.253 |
4.252 |
|
|
|
Residual dividend earlier years |
|
|
|
|
|
|
Tax on dividend for earlier years |
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
138.038 |
112.484 |
86.878 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Software development / Services |
0.000 |
0.903 |
5.582 |
|
|
TOTAL EARNINGS |
0.000 |
0.903 |
5.582 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
7.79 |
8.38 |
9.09 |
|
|
|
- Diluted |
7.79 |
8.38 |
9.09 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
178.570 |
249.840 |
314.840 |
|
Total Expenditure |
132.860 |
209.380 |
265.200 |
|
PBIDT (Excl OI) |
45.710 |
40.460 |
49.640 |
|
Operating Profit |
45.710 |
40.460 |
49.640 |
|
Interest |
4.010 |
3.940 |
6.510 |
|
PBDT |
41.700 |
36.520 |
43.130 |
|
Depreciation |
6.150 |
6.770 |
6.550 |
|
Profit Before Tax |
35.550 |
29.750 |
36.580 |
|
Tax |
13.710 |
5.850 |
14.010 |
|
Profit After Tax |
21.840 |
23.900 |
22.570 |
|
Net Profit |
21.840 |
23.900 |
22.570 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.13 |
12.77 |
19.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.02 |
20.54 |
31.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.93 |
17.91 |
20.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.34 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.88 |
0.90 |
1.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.85 |
2.77 |
2.98 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE OF THE
COMPANY:
The company achieved a turnover of Rs. 1057.596 millions during the year
and earned a net profit after tax of Rs. 96.595 millions.
UNAUDITED
FINANCIAL RESULTS (PROVISIONALE) FOR THE QUARTER ENDED 31.12.2010
Rs. In Millions
|
Particulars |
3 months ended for the current year 31.12.2010 (Unaudited) |
Year to date figures for current year ended 31.12.2010 (Unaudited) |
|
a) Net Sales / Income from Operations |
311.651 |
736.735 |
|
b) Other Operating Income |
3.193 |
7.858 |
|
Total Income |
314.844 |
744.593 |
|
Expenditure |
|
|
|
(a) (Increase)/decrease in Stock in Trade and work in progress |
-- |
-- |
|
(b) Consumption of Consumables |
-- |
-- |
|
(c) Purchase of traded goods |
184.232 |
329.314 |
|
(d) Employees Cost |
20.117 |
63.943 |
|
(e) Consultancy, Professional and other charges |
32.184 |
130.671 |
|
(f) Lease Rentals |
4.200 |
11.800 |
|
(g) Depreciation and Amortisation |
6.550 |
19.462 |
|
(f) Administrative and Other Expenses |
24.474 |
73.669 |
|
Total |
271.757 |
628.859 |
|
Profit From Operations before other Income Interest & Exceptional Items |
43.087 |
115.734 |
|
Other Income |
-- |
-- |
|
Profit before Interest and Exceptional items |
43.087 |
115.734 |
|
Interest |
6.509 |
14.457 |
|
Profit after interest before Exceptional items |
36.578 |
101.277 |
|
Exceptional Items |
-- |
-- |
|
Profit From Ordinary
activities before Tax |
36.578 |
101.277 |
|
Tax expenses |
|
|
|
- Current period |
18.775 |
43.813 |
|
- Fringe benifit Tax |
-- |
-- |
|
- Deferred |
(4.771) |
(10.251) |
|
Net Profit/(Loss) From Ordinary activities after Tax |
22.574 |
67.715 |
|
Extraordinary Items (net of tax expenses Rs.) |
-- |
-- |
|
Net Profit/(Loss) for the period |
22.574 |
67.715 |
|
Paid Up Equity Share Capital ( Face Value of the share Rs.10/- each ) |
125.119 |
125.119 |
|
Reserves (Excluding Revaluation Reserves) |
-- |
-- |
|
Earning Per Share
(EPS) |
|
|
|
-Basic and Diluted EPS before extraordinary items for the period, for the year to date and for the previous year (not to be annualised) |
1.80 |
5.41 |
|
-Basic and Diluted EPS after extraordinary items for the period, for the year to date and for the previous year (not to be annualised) |
1.80 |
5.41 |
|
Public Share Holding |
|
|
|
- Number of Shares |
7376210 |
7376210 |
|
- Percentage of shareholding |
58.95 |
58.95 |
|
Promoters and Promoter group share holding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of Shares |
-- |
-- |
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
-- |
-- |
|
- Percentage of shares(as a % of the total share capital of the company) |
-- |
-- |
|
b) Non-encumbered |
|
|
|
- Number of Shares |
5135665 |
5135665 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
|
- Percentage of Share (as a % of the total share capital of the company) |
41.05 |
41.05 |
QUARTERLY
REPORTING OF SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYE UNDER CLAUSE 41
OF THE LISTING AGREEMENT
Rs.
In Millions
|
Sl. No |
Particulars |
3 months ended for the current year 31.12.2010 (Unaudited) |
Year to date figures for current year ended 31.12.2010 (Unaudited) |
|
|
1. |
|
Segment Revenue |
|
|
|
|
a. |
Integrated solutions division |
192.651 |
339.842 |
|
|
b. |
Technical division |
36.067 |
148.122 |
|
|
c. |
Projects division |
82.933 |
248.771 |
|
|
d. |
Others |
-- |
-- |
|
|
e. |
Unallocated |
3.193 |
7.858 |
|
|
|
Net sales /
income from operations |
314.844 |
744.593 |
|
2. |
|
Segment results
[profits / (loss) before tax and interest from each segment] |
|
|
|
|
a. |
Integrated solutions division |
9.064 |
11.096 |
|
|
b. |
Technical division |
13.286 |
46.259 |
|
|
c. |
Projects division |
34.106 |
95.319 |
|
|
d. |
Others |
(0.003) |
(0.010) |
|
|
|
Total |
56.453 |
152.664 |
|
|
|
Less: i) Interest |
6.509 |
14.457 |
|
|
|
ii) Un-alocable
expenditure net off un-allocable income |
13.366 |
36.930 |
|
|
|
Total profit /
(loss) before tax |
36.578 |
101.277 |
|
3. |
|
Capital employed
|
|
|
|
|
a. |
Integrated solutions division |
(37.476) |
(37.476) |
|
|
b. |
Technical division |
80.425 |
80.425 |
|
|
c. |
Projects division |
637.829 |
637.829 |
|
|
d. |
Others |
0.081 |
0.081 |
|
|
e. |
Unallocated |
108.804 |
108.804 |
|
|
|
Total |
789.663 |
789.663 |
Notes:
- The above results
were reviewed by the audit committee and have been taken on record by the
board at its meeting held on 12.02.2011 subjected to limited audit review
by the statutory auditors.
- The company
reviewed 24 requests during the quarter ended 31.12.2010 from shareholders
and all the requests have been resolved. No complaints were pending either
at the beginning or at the end of the quarter.
- Previous
quarter/year figures were regrouped / reclassified wherever necessary.
Fixed Assets:
- Land
- Buildings
- Office equipment
- Computers and servers
- Electrical equipment
- Furniture and fixtures
- Capital expenditure on project division
- Vehicles
AS PER WEBSITE DETAILS:
PROFILE:
The qualifications and experience of employees are the keys to success in any organization.
There employees contribute to the success of “TERASOFT” through commitment, responsibility and team spirit.
The staff and management of “TERASOFT” have many years of experience.
The low fluctuation of employees guarantees, continuous customer satisfaction and delight.
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.45.03 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.