1. Summary Information
|
|
|
Country |
|
|
Company Name |
Flowmore Limited |
Principal Name 1 |
Mr. Mahesh Prasad Gupta |
|
Status |
Satisfactory |
PRINCIPAL NAME 2 |
Mr. Krishan Kumar Bhatia |
|
|
|
REGISTRATION # |
55 - 4773 |
|
Street Address |
Plot No. 14, Block Ii, Mohan Co-Op Industrial Estate, |
||
|
Established Date |
26.07.1967 |
SIC Code |
-- |
|
Telephone# |
- |
Business Style 1 |
Designing |
|
Fax # |
- |
Business Style 2 |
Manufacturing |
|
Homepage |
Product Name 1 |
Pumps |
|
|
# of employees |
200
[Approximately] |
Product Name 2 |
Valves |
|
Paid up capital |
Rs.160,500,000/-
|
Product Name 3 |
- |
|
Shareholders |
Bodies Corporate:- 80.38 % Directors Or Relatives Of Directors:- 19.62 % |
Banking |
Standard
Chartered Bank |
|
Public Limited Corp. |
No |
Business Period |
44 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
Company |
|
Fairbanks Morse India Limited |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,240,121,000 |
Current Liabilities |
543,027,000 |
|
Inventories |
397,833,000 |
Long-term Liabilities |
559,105,000 |
|
Fixed Assets |
150,277,000 |
Other Liabilities |
42,218,000 |
|
Deferred Assets |
69,000 |
Total Liabilities |
1,144,350,000 |
|
Invest& other Assets |
66,269,000 |
Retained Earnings |
549,719,000 |
|
|
|
Net Worth |
710,219,000 |
|
Total Assets |
1,854,569,000 |
Total Liab. & Equity |
1,854,569,000 |
|
Total Assets (Previous Year) |
1,392,502,000 |
|
|
|
P/L Statement as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
2,047,185,000 |
Net Profit |
91,780,000 |
|
Sales(Previous yr) |
1,752,754,000 |
Net Profit(Prev.yr) |
133,121,000 |
MIRA
INFORM REPORT
|
Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
FLOWMORE LIMITED |
|
|
|
|
Registered Office : |
Plot No. 14, Block II, Mohan Co-Op Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
26.07.1967 |
|
|
|
|
Com. Reg. No.: |
55 – 4773 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1967PTC004773 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELF02659G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACF0876E |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business : |
Designing, Manufacturing and Testing of Pumps and Valves |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2840000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
regular and as per commitments. The company can be considered normal for business dealing 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 : |
Plot No. 14, Block II, Mohan Co-Op Industrial Estate, |
|
E-Mail : |
delmkt@flowmorepumps.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
443, Udyog Vihar, Phase III, Gurgaon-122 016, |
|
Tel. No.: |
91-124-3010883 upto 92 |
|
Fax No.: |
91-124-3010895 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
9th Mile Stone, |
|
Tel. No.: |
91-120-3004320 upto 28 |
|
Fax No.: |
91-120-3004329 upto 29 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
28/A, Site-4, Sahibabad Industrial Area, Sahibabad, Ghaziabad-201 011,
|
|
Tel. No.: |
91-120-3004658/59 |
|
Fax No.: |
91-120/4155929 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located At: v
Mumbai v
Chennai v
Klkata v
Amedabad v
Idore v
Secunderabad v
v
v
v
v
Bhubneshwar v
Jaipur v
|
DIRECTORS
As on 28.02.2011
|
Name : |
Mr. Mahesh Prasad Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
6, Shivaji Marg, Rangpuri, |
|
Date of Birth/Age : |
28.04.1922 |
|
Date of Appointment : |
26.07.1967 |
|
DIN : |
01058574 |
|
|
|
|
Name : |
Mr. Krishan Kumar Bhatia |
|
Designation : |
Director |
|
Address : |
211, Sathi Apartments, Plot No. 18, Sector 9, Rohini, |
|
Date of Birth/Age : |
25.09.1953 |
|
Date of Appointment : |
01.04.2003 |
|
DIN : |
00685346 |
|
|
|
|
Name : |
Mr. Gaurav Kumar Gupta |
|
Designation : |
Managing Director |
|
Address : |
6, Shivaji Marg, Rangpuri, |
|
Date of Birth/Age : |
28.12.1970 |
|
Date of Appointment : |
01.11.2005 |
|
DIN : |
00164590 |
|
|
|
|
Name : |
Mr. Saurabh Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
6, Shivaji Marg, Rangpuri, |
|
Date of Birth/Age : |
29.07.1972 |
|
Date of Appointment : |
01.11.2005 |
|
DIN : |
00764711 |
|
|
|
|
Name : |
Mr. Rishabh Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
6, Shivaji Marg, Rangpuri, |
|
Date of Birth/Age : |
02.02.1978 |
|
Date of Appointment : |
01.11.2005 |
|
DIN : |
00671390 |
KEY EXECUTIVE
|
Name : |
Mr. Gautam Karnawat |
|
Designation : |
Secretary |
|
Address : |
UU-142, Pitampura, |
|
Date of Birth/Age : |
18.07.1963 |
|
Date of Appointment : |
25.02.2010 |
|
PAN : |
AJJPK7733N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.02.2011
|
Names of Shareholders |
|
No. of Shares |
|
Gaurav Gupta and Janak Gupta |
|
100710 |
|
Rishabh Gupta |
|
154320 |
|
Saurabh Gupta |
|
251880 |
|
Gaurav Gupta and Mahesh Prasad Gupta |
|
135000 |
|
Gaurav Gupta |
|
116880 |
|
Saurabh Gupta and Janak Gupta |
|
82440 |
|
Total Engineering Services Private Limited |
|
60000 |
|
Janak Gupta and Saurabh Gupta |
|
320490 |
|
Janak Gupta and Rishabh Gupta |
|
500490 |
|
Janak Gupta and Gaurav Gupta |
|
302220 |
|
Mahesh Prasad Gupta and Rishabh Gupta |
|
395190 |
|
Mahesh Prasad Gupta and Saurabh Gupta |
|
395190 |
|
Mahesh Prasad Gupta and Gaurav
Gupta |
|
395190 |
|
GG Advisory Private Limited |
|
4280000 |
|
RG Freelancers Private Limited |
|
4280000 |
|
Saurabh Advisors Private Limited |
|
4280000 |
|
Total |
|
16050000 |
As on 28.02.2011
|
Category |
|
Percentage of Holding |
|
Bodies
corporate |
|
80.38 |
|
Directors
or relatives of directors |
|
19.62 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Designing, Manufacturing and Testing of Pumps and Valves |
|
|
|
|
|
|
Product : |
Item Code No. |
Product
Description |
|
841370.01-04 |
Designing, Manufacturing and Testing of Pumps and Valves |
|
GENERAL INFORMATION
|
No. of Employees : |
200 [approximately] |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
D. Ostwal and Associates Chartered Accountants |
|
Address : |
303-304, Dakha Chambers - 1, 2068, H.S. Nalwa Street 38, Karol Bagh,
New Delhi- 110 005, Delhi, India |
|
Tel. No.: |
91-11-28754465 |
|
Fax No.: |
91-11-28754465 |
|
E-Mail : |
|
|
|
|
|
Subsidiaries : |
Fairbanks Morse India Limited CIN : U29120DL1973PLC006493 FBM Pumps India Limited |
|
|
|
|
Associates : |
v
Ushmil Hydro Systems Private Limited v
Flowmore Designs and Technologies Private Limited
v
A M Estates Private Limited v
FPL Pumps and Spares Private Limited v
Maa Kali Steels Private Limited |
CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,250,000 |
Equity Shares |
Rs.10/- Each |
Rs.162.500
Millions |
|
|
|
|
|
Issued, Subscribed Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,050,000 |
Equity Shares |
Rs.10/- Each |
Rs.160.500
Millions |
|
|
|
|
|
Of the above 4600 shares are allotted as fully
paid up for capitalization other than cash and 28000 shares as bonus shares
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 [15 Months] |
30.09.2009 |
30.09.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
160.500 |
32.100 |
10.700 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
549.719 |
457.938 |
346.217 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
710.219 |
490.038 |
356.917 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
554.605 |
404.381 |
285.536 |
|
|
2] Unsecured Loans |
4.500 |
7.498 |
11.369 |
|
|
TOTAL BORROWING |
559.105 |
411.879 |
296.905 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.368 |
|
|
|
|
|
|
|
|
TOTAL |
1269.324 |
901.917 |
654.190 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
150.277 |
120.070 |
103.412 |
|
|
Capital work-in-progress |
55.924 |
10.297 |
2.566 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.770 |
8.233 |
8.233 |
|
|
DEFERREX TAX ASSETS |
0.069 |
0.220 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
397.833
|
239.117
|
302.770
|
|
|
Sundry Debtors |
1038.198
|
856.751
|
583.641
|
|
|
Cash & Bank Balances |
24.701
|
40.048
|
18.538
|
|
|
Other Current Assets |
1.191
|
3.283
|
1.031
|
|
|
Loans & Advances |
176.031
|
114.483
|
59.870
|
|
Total
Current Assets |
1637.954
|
1253.682
|
965.850
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
107.947
|
44.972
|
|
|
|
Sundry Creditors |
435.080
|
384.808
|
|
|
|
Provisions |
42.218
|
60.805
|
16.708
|
|
Total
Current Liabilities |
585.245
|
490.585
|
425.871 |
|
|
Net Current Assets |
1052.709
|
763.097
|
539.980 |
|
|
|
|
|
|
|
|
PRELIMINARY EXPENSES |
0.575 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1269.324 |
901.917 |
654.191 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 [15 Months] |
30.09.2009 |
30.09.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2047.185 |
1752.754 |
1141.771 |
|
|
|
Other Income |
10.429 |
3.137 |
1.328 |
|
|
|
TOTAL (A) |
2057.614 |
1755.891 |
1143.099 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
1433.938 |
1232.081 |
801.011 |
|
|
|
Personnel Expenses |
144.505 |
74.693 |
61.735 |
|
|
|
Other Expenses |
247.526 |
190.883 |
151.214 |
|
|
|
TOTAL (B) |
1825.969 |
1497.657 |
1013.960 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
231.645 |
258.234 |
129.139 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
86.781 |
67.615 |
50.957 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
144.864 |
190.619 |
78.182 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.408 |
12.648 |
11.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
124.456 |
177.971 |
66.803 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
32.676 |
44.850 |
24.297 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
91.780 |
133.121 |
42.506 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
405.482 |
302.360 |
259.854 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
30.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
497.262 |
405.481 |
302.360 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.41 |
41.47 |
13.24 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 [15 Months] |
30.09.2009 |
30.09.2008 |
|
PAT / Total Income |
(%) |
4.46
|
7.58
|
3.72
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.08
|
10.15
|
5.85
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.96
|
12.96
|
6.25
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.36
|
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.61
|
1.84
|
2.03
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.80
|
2.55
|
2.27
|
LOCAL AGENCY FURTHER INFORMATION
Note: Registered office of the company has been shifted from A 292 N H-8,
Mahipalpur Extension,
OPERATIONS:
The company has an increase in the turnover in
the year 2009-10 as compare to last year from Rs.1755.891 Millions to
Rs.2057.614 Millions. The net profit
before tax has decreased to Rs.124.456 Millions as compare to last year profit
of Rs.177.971 Millions. The company expects good and profitable results in
future.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U74899DL1967PTC004773 |
|
Name of the
company |
FLOWMORE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 14, Block II, Mohan Co-Op Industrial Estate, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10019579 |
|
Type of charge |
|
|
Particular of
charge holder |
Standard Chartered Bank, Credit Risk Control, Narain Manzil,
23, Barakhamba Road, New Delhi- 110001, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental to
unattested memorandum of hypothecation. |
|
Date of instrument
Creating the charge |
15.03.2011 |
|
Amount secured by
the charge |
Rs.460.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per facility advice
letter dated 17.02.2011 to be amended from time to time. Terms of
Repayment As per facility
advice letter dated 17.02.2011 to be amended from time to time. Margin As per facility
advice letter dated 17.02.2011 to be amended from time to time. Extent and
Operation of the charge Pari Passu Charge
|
|
Short particulars
of the property charged |
1.All stock in
trade both P/F consisting of RM, FG, GIP of manufacturing and other
merchandise stored or to be stored at Bo's premises or Godowns and all P/F
B/Debts, outstanding moneys, receivables etc. shall be hypothecated to the
bank by way of 1st charge on a pari passu basis. 2. Hypothecation
by way of 1st p/passu charge over the whole of the f/as. Consisting of all
such prop. Both p/f of the bo. Sit. At co's premises, godowns etc. Incl. Its
mov. P/Mach., Tools And Accessories
etc. |
|
Date of latest
modification prior to the present modification |
29.10.2010 |
|
Particulars of
the present modification |
Bank's first pari
passu charge over Current Assets and Movable Fixed Assets of the company both
present and future already Regd. For Rs.380.000 Millions shall stand enhanced
to Rs.460.000 Millions. |
FIXED ASSETS
- Goodwill
- Plant and Machinery
- Office Equipments
- Computers
- Computers Software
- Air Conditioner and Coolers
- Drawings and Designs
- Tubewell
- Motor Car and Motor Cycles
- Bicycles
- Testing Facilities
- Furniture and Fixture
AS PER WEBSITE :
CORPORATE INFO
Flow More is well recognized
as a leader LARGE AND SPECIAL APPLICATION PUMPS, technology and quality being
its great strengths. From the first pump manufactured in early 50’s to the
latest capacity large size circulating Water Pumps, Flowmore has continuously
acquired. A broad technological background in pump design and integrated
manufacturing facilities, for which today Flowmore has accumulated the most
fully integrated capabilities.
Flowmore, presently,
offers an extensive line of standard and custom-engineered Centrifugal,
Vertical Turbine, Mixed-flow, Axial Flow pumps for varied services in Power
Stations such as a Cooling Water and Cooling Tower, Intake, Make-up, Ash Water
and Ash Slurry, Sewage and Waste Treatment, Drainage, Flood Control, Dock
Impounding, Lift Irrigation, Fire Services, Viscous and Volatile Liquid
Handling, such as petroleum and Heavy Oils and Fluids, Hot Oil pumping etc.
Flowmore earlier,
had a licensee-association with the world renowned Fairbanks Morse Pump Corp.
of
Flowmore takes pride
in the competence of its engineers, dedicated to creative pump engineering, to
bring into practical use the full effect of hydraulic streamlining, advanced
designs and strategic use of applicable modern liquid handling at minimum cost,
assuring a consistently high level of innovation, field performance,
reliability and quality. Stringent quality ensures product integrity before it
is delivered to the customer.
Flowmore has the
necessary experience to meet most of the requirements. Flowmore has
successfully produced and installed a large number of Circulating Water Pumps ,
Ash Water HP/LP pumps, Vertical Propeller type canal pumps and with record of
achievements of prove, is considered as a major pump manufacturer in the
country, Prompt after-sales Services is a special feature of Flowmore
sales-package.
Flowmore places the dedicated services of its organization at the disposal and
its committed and able to supply, design, manufacture and install pumping
equipment of international standards to meet the specific requirements.
OVERSEAS SUPPLIES:
INSPECTION AGENCIES VISITING FLOWMORE
REGULARLY:
- MECON
- NTPC
- RITES
- CEIL
- LLOYD’S REGISTER OF SHIPPING
- SGS INDIA LIMITED
- DGS and D
- TUV-SUD
- BEURO VERATUS
- INDIAN REGISTER OF SHIPPING
- CEA
- MN DASTUR
- CROWN
REGISTERED/ APPROVED BY GOVT DEPT:
- NTPC
- BHEL
- PDIL
- MECON
- NPCIL
- NHPC
- EIL
- STATE ELECTRICITY BOARDS
- WATER and SEWAGE BOARDS
- MUNICIPAL CORPORATIONS
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.44.59 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.66.04 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.