MIRA
INFORM REPORT
|
Report Date : |
23.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
TORM SHIPPING INDIA PRIVATE LIMITED (w.e.f 31.01.2008) |
|
|
|
|
Formerly Known As : |
ORINOCO MARINE CONSULTANCY INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
203.2nd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
18.11.1996 |
|
|
|
|
Com. Reg. No.: |
103985 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U63000MH1996PTC103985 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO01283C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO1884D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Providing Consultancy Services |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 580000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of multi-national Torm Shipping. It is a well
established company having good track. Financial position of the company appears
to be sound. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
INFORMATION DECLINED BY
Management Non Co Operative (Name Not Disclosed)
LOCATIONS
|
Registered Office : |
203.2nd Floor, |
|
Tel. No.: |
91-22-66407200 |
|
Fax No.: |
91-22-66407350 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Worldwide Offices : |
Located at:
|
DIRECTORS
AS ON 11.08.2010
|
Name : |
Mr. Jesper Denis Holmark |
|
Designation : |
Director |
|
Address : |
Moellegaardsvej – 4, |
|
Date of Birth/Age : |
20.07.1966 |
|
Date of Appointment : |
17.12.2007 |
|
|
|
|
Name : |
Mr. Purushottam Shankar Barve |
|
Designation : |
Director |
|
Address : |
Flat No. 271/A, 27th Floor, Naperol Tower, R. A. Kidwai
Road, Wadala, Mumbai 400031, Maharashtra, India |
|
Date of Birth/Age : |
26.05.1933 |
|
Date of Appointment : |
22.03.1997 |
|
Date of Cessation : |
31.10.2008 |
|
|
|
|
Name : |
Mrs. Neeta Shridhar Bharatan |
|
Designation : |
Director |
|
Address : |
2602, Odyssey-II, |
|
Date of Birth/Age : |
15.04.1961 |
|
Date of Appointment : |
18.11.1996 |
|
|
|
|
Name : |
Mr. Shridhar Maledath Bharatan |
|
Designation : |
Director |
|
Address : |
2602, Odyssey-II, |
|
Date of Birth/Age : |
05.08.1956 |
|
Date of Appointment : |
18.11.1996 |
|
Date of Cessation : |
31.10.2008 |
|
|
|
|
Name : |
Mr. Anil Harish Manshiramani |
|
Designation : |
Director |
|
Address : |
13, C.C.I. Chambers, 1st floor, |
|
Date of Birth/Age : |
19.03.1954 |
|
Date of Appointment : |
22.03.1997 |
|
|
|
|
Name : |
Mr. Kathleen Cribbin Haines |
|
Designation : |
Director |
|
Address : |
453, E Putnam, Ave 4F, COS COB 06807 |
|
Date of Birth/Age : |
28.02.1955 |
|
Date of Appointment : |
13.08.2007 |
|
Date of Ceasing : |
01.04.2008 |
|
|
|
|
Name : |
Mr. Claus Usen Jensen |
|
Designation : |
Additional Director |
|
Address : |
Falkenbergvej – 15, Alsgarde 3140 |
|
Date of Birth/Age : |
02.04.1967 |
|
Date of Appointment : |
19.03.2009 |
|
|
|
|
Name : |
Mr. Muralidhar Ganeshan Iyer |
|
Designation : |
Additional Director |
|
Address : |
1301, Excel Residency, Sector – 7, Airoli, Navi Mumbai – 400 708, |
|
Date of Birth/Age : |
21.06.1961 |
|
Date of Ceasing : |
19.03.2009 |
|
|
|
|
Name : |
Mr. Joseph Holmark |
|
Designation : |
Director |
|
Address : |
Moellegaardsvej – 4, |
|
Date of Birth/Age : |
20.07.1966 |
|
Date of Appointment : |
22.09.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Abhay Kumar |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
BE (Mech), M.O.T – I |
|
Experience : |
19 Years |
|
Date of Appointment : |
01.03.2005 |
|
Directorship in other company : |
Reliance Industries Limited |
|
|
|
|
Name : |
Mr. Ashok Agarwal |
|
Designation : |
Senior General Manager |
|
Date of Birth/Age : |
58 Years |
|
Qualification : |
Master (F.G) |
|
Experience : |
40 Years |
|
Date of Appointment : |
14.01.1999 |
|
Directorship in other company : |
Paramount Ship Management |
|
|
|
|
Name : |
Mr. Anil Kumar Sinha |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
44 Years |
|
Qualification : |
BE (Marine Eng), M.O.T. – I |
|
Experience : |
19 Years |
|
Date of Appointment : |
11.01.2006 |
|
|
|
|
Name : |
Mr. Ajay Bhandari |
|
Designation : |
Marine Superintendent |
|
Date of Birth/Age : |
39 Years |
|
Qualification : |
Master Mariner |
|
Experience : |
19 Years |
|
Date of Appointment : |
06.10.2006 |
|
Directorship in other company : |
Bergsen Worldwide |
|
|
|
|
Name : |
Mr. Burzis Patel |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
Dip. M.S.O., M.O.T |
|
Experience : |
25 Years |
|
Date of Appointment : |
15.11.1997 |
|
Directorship in other company : |
Scindia Steam Nav Company Limited |
|
|
|
|
Name : |
Mr. Bidyut Biswas |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
M.O.T – I |
|
Experience : |
18 Years |
|
Date of Appointment : |
19.09.2005 |
|
Directorship in other company : |
Barbar Ship Management |
|
|
|
|
Name : |
Mr. Bo. Gronhoj |
|
Designation : |
Safety Manager |
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
Master Mariner |
|
Experience : |
20 Years |
|
Date of Appointment : |
01.11.2007 |
|
Directorship in other company : |
A/S D Torm |
|
|
|
|
Name : |
Mrs. Carl Fernandes |
|
Designation : |
Projects – Head |
|
Date of Birth/Age : |
53 Years |
|
Qualification : |
Master Mariner |
|
Experience : |
30 Years |
|
Date of Appointment : |
01.09.2004 |
|
Directorship in other company : |
Omi Marine Services Limited |
|
|
|
|
Name : |
Mr. Deepak Laud |
|
Designation : |
Crewing – Head |
|
Date of Birth/Age : |
53 Years |
|
Qualification : |
Master Mariner |
|
Experience : |
34 Years |
|
Date of Appointment : |
01.06.2005 |
|
Directorship in other company : |
Barbar Ship Management |
|
|
|
|
Name : |
Mr. Gurpeet Singh |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
44 Years |
|
Qualification : |
M.O.T. |
|
Experience : |
20 Years |
|
Date of Appointment : |
02.07.2002 |
|
Directorship in other company : |
Wallem Ship Management |
|
|
|
|
Name : |
Mr. Jasdeep Singh Loney |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
44 Years |
|
Qualification : |
Master Mariner |
|
Experience : |
21 Years |
|
Date of Appointment : |
25.10.2001 |
|
Directorship in other company : |
V Ships |
|
|
|
|
Name : |
Mr. Jeevan Gadre |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
44 Years |
|
Qualification : |
M.O.T. |
|
Experience : |
16 Years |
|
Date of Appointment : |
07.04.2004 |
|
Directorship in other company : |
Omi Marine Services |
|
|
|
|
Name : |
Mr. John Pires |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
42 Years |
|
Qualification : |
HH (Mech) M.O.T |
|
Experience : |
18 Years |
|
Date of Appointment : |
01.03.2005 |
|
Directorship in other company : |
NYK Ship Management |
|
|
|
|
Name : |
Mr. Jal Contractor |
|
Designation : |
Marine Superintendent |
|
Date of Birth/Age : |
57 Years |
|
Qualification : |
Master Mariner |
|
Experience : |
38 Years |
|
Date of Appointment : |
25.07.2005 |
|
Directorship in other company : |
Seaarland |
|
|
|
|
Name : |
Mr. Kersi Khambatta |
|
Designation : |
Manager Training |
|
Date of Birth/Age : |
51 Years |
|
Qualification : |
Master Mariner |
|
Experience : |
22 Years |
|
Date of Appointment : |
01.06.2002 |
|
Directorship in other company : |
OMI Marine Services |
|
|
|
|
Name : |
Mr. Mohit Bhardwaj |
|
Designation : |
Superintendent |
|
Date of Birth/Age : |
36 Years |
|
Qualification : |
BE (Marine) |
|
Experience : |
11 Years |
|
Date of Appointment : |
22.02.2007 |
|
Directorship in other company : |
Fleet Management Private Limited |
|
|
|
|
Name : |
Mr. Neville Kootar |
|
Designation : |
Purchase Head |
|
Date of Birth/Age : |
51 Years |
|
Qualification : |
M.O.T |
|
Experience : |
29 Years |
|
Date of Appointment : |
25.07.2005 |
|
Directorship in other company : |
Wilhelmsen Ship Management Limited |
|
|
|
|
Name : |
Mr. Nitin Dhage |
|
Designation : |
Marine Superintendent |
|
|
|
|
Name : |
Mr. Prodyot Basu |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. R. Sitaraman |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. Sanjeev Pinto |
|
Designation : |
Port Captain |
|
|
|
|
Name : |
Mr. Sanjay Kapoor |
|
Designation : |
Operation Matter |
|
|
|
|
Name : |
Mr. Suboth Kumar |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. Suresh Sharma |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. Sudip Nair |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. Sanajy Gupta |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. Tarun Kumar |
|
Designation : |
Manager Operation |
|
|
|
|
Name : |
Mr. Valerian Pinto |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. Vijay Arora |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. Varadaraj B. Katti |
|
Designation : |
Superintendent |
|
|
|
|
Name : |
Mr. B. Krishnamurthi |
|
Designation : |
Head Process Excellence |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.08.2010
|
Names of Shareholders |
No. of Shares |
|
Omi Holdings Limited, |
99999 |
|
Omi Corporation, Majuro |
1 |
|
Total |
100000 |
AS ON 11.08.2010
|
Equity Share
Break-up |
Percentage of
Holding |
|
Foreign holding (Foreign institutional investor(s), Foreign
Companie(s) Foreign financial institutional(s), Non-resident indian(s) or
Overseas corporate bodies or other) |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Consultancy Services |
GENERAL INFORMATION
|
No. of Employees : |
50 Approximately |
|
|
|
|
Bankers : |
Scheduled Bank |
|
|
|
|
Facilities: |
-- |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Deliotee Haskins and Sells Chartered Accountants |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
Pan No : |
AACFD4815A |
|
|
|
|
Associates/Subsidiaries : |
OMCI Marine Services Private Limited CIN No.: U63032MH2001PTC131024
|
|
|
|
|
Holding Company: |
Omi Holding Limited, |
|
|
|
|
Ultimate Holding Company: |
Torm A/S |
|
|
|
|
Fellow Subsidiary Companies: |
|
CAPITAL STRUCTURE
AS ON 11.08.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
Note:
Of the above 99,999 Equity shares are held by OMI Holdings Limited, the
Holding Company.
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
144.582 |
139.327 |
124.654 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
145.582 |
140.327 |
125.654 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
145.582 |
140.327 |
125.654 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
98.652 |
113.674 |
119.255 |
|
|
Capital work-in-progress |
0.728 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.464 |
4.360 |
6.518 |
|
|
DEFERREX TAX ASSETS |
0.825 |
1.409 |
2.441 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
23.712 |
19.871 |
17.913 |
|
|
Cash & Bank Balances |
10.299 |
92.794 |
74.035 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
24.005 |
56.434 |
61.000 |
|
Total
Current Assets |
58.016 |
169.099 |
152.948 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.144 |
129.481 |
145.477 |
|
|
Current Liabilities |
2.377 |
2.427 |
0.000 |
|
|
Provisions |
10.582 |
16.307 |
10.031 |
|
Total
Current Liabilities |
20.103 |
148.215 |
155.508 |
|
|
Net Current Assets |
37.913 |
20.884 |
(2.560) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
145.582 |
140.327 |
125.654 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
197.920 |
264.638 |
331.365 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
197.920 |
264.638 |
331.365 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
163.464 |
223.752 |
303.350 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
163.464 |
223.752 |
303.350 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.456 |
40.886 |
28.015 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.456 |
40.886 |
28.015 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.094 |
15.146 |
13.833 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
18.362 |
25.740 |
14.182 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.107 |
11.068 |
5.942 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.255 |
14.672 |
8.240 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
47.913 |
33.241 |
25.001 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
53.168 |
47.913 |
33.241 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Management Fees |
180.544 |
263.827 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.00 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.65 |
5.54 |
2.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.27 |
9.72 |
4.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.72 |
9.10 |
5.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.18 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.13 |
1.05 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.88 |
1.14 |
0.98 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
Rs. In Millions
|
Particular |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
7.144 |
129.481 |
145.477 |
OPERATIONS:
The contracts of
the Company are priced on Cost-plus basis and cost efficiency earned through
various cost rationalization measures have reduced the base over which price is
determined. This has also benefited the Company in retaining its customer base
in a challenging global shipping industry.
The results for
the year under review shows that the total income of the Company at Rs 197.920
millions has decreased by 26.21% compared to the previous year's Rs.264.638
millions , the Net Profit before Tax for the year at Rs. 18.362 millions has
decreased by 28.66% compared to the previous year's Rs.25.740 millions. After
making provision for Income-tax at Rs 13.107 millions compared to the previous
year's Rs 11.067 millions, the Net Profit After Tax at Rs 5.255 millions shows
a decline of 64.19% over that of the previous year at Rs. 14.672 millions.
SUBSIDIARY:
This is the Third
year of operation of OMCI Marine Services Private Limited after it became the
Company's Wholly Owned Subsidiary. The accounts of the Company's Wholly-owned
Subsidiary, viz. OMCI Marine Services Private Limited, for the year ended March
3 1, 2010 and the Statement regarding the Subsidiary Company in accordance with
Section 212 of the Companies Act, 1956 are attached to the Accounts of the
Company as required.
HOLDING COMPANY:
The Company is a
100% subsidiary of OM1 Holdings Limited, which is in turn subsidiary of TORM
AIS, a
NOTE:
The Registered Office of the company has been shifted from M1, 1st
Floor, leela
FIXED ASSETS:
- Office
Premises
- Plant and
Machinery
- Computer
- Office
Equipment
- Furniture and
Fixtures
- Motor Vehicle
- Leasehold
Improvements
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 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. 44.97 |
|
|
1 |
Rs. 73.35 |
|
Euro |
1 |
Rs. 63.98 |
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 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
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.