MIRA
INFORM REPORT
|
Report Date : |
16.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
NSL RENEWABLE POWER PRIVATE LIMITED (w.e.f 16.06.2010) |
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Formerly Known As : |
NUZIVEEDU SEEDS PRIVATE
LIMITED |
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Registered Office : |
Flat No. 905, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
04.01.1985 |
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Com. Reg. No.: |
55-114839 |
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Paid-up Capital : |
Rs. 200.011 millions |
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CIN No.: [Company
Identification No.] |
U40109DL1985PTC114839 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELN05294C |
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PAN No.: [Permanent
Account No.] |
AABCN6009L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Power Generation |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
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Maximum Credit Limit : |
USD 23000000 |
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|
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine 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 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) |
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|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
Flat No. 905, |
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Tel. No.: |
91-11-23766237/40-30514444 |
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Fax No.: |
91-11-23766240 / 41 |
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E-Mail : |
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Website : |
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Corporate Office : |
NSL ICON,4th
Floor, Road No: 12, Banjara Hills, Hyderabad-500034, |
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Tel. No.: |
91-40-30514444 |
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Fax No.: |
91-40-23327919 |
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E-Mail : |
DIRECTORS
As On 29.09.2010
|
Name : |
Mr. Mandava Prabhakar Rao |
|
Designation : |
Chairman |
|
Address : |
Plot No.543, H No.8-2-293/82/A, Road No.26, Jubleehills, Hyderabad-500033, |
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Date of Birth/Age : |
19.01.1959 |
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Date of Appointment : |
04.01.1985 |
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DIN No.: |
000009650 |
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Name : |
Ms. Mandava Asha Priya |
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Designation : |
Director |
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Address : |
Plot No.543, H No.8-2-293/82/A, Road No.26, Jubleehills, Hyderabad-500033, |
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Date of Birth/Age : |
19.09.1961 |
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Date of Appointment : |
18.10.1997 |
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DIN No.: |
01199936 |
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Name : |
Kommalapati Rama Koteswara Rao |
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Designation : |
Director |
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Address : |
5-9-22/40, Flat No.301,
MCH No.314, JVR Amrit Enclave, Opp. New MLA Quarters, Adarsh Nagar, |
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Date of Birth/Age : |
12.11.1956 |
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Date of Appointment : |
21.07.2010 |
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DIN No.: |
00014649 |
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Name : |
Mr. Narasimharamulu Pantam |
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Designation : |
Director |
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Address : |
Plot No.402, 4th Floor, Gand Residency |
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Date of Birth/Age : |
25.07.1945 |
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Date of Appointment : |
31.10.2008 |
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DIN No.: |
00064196 |
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Name : |
Mr. Gopalakirshna Narayana Swamy Muddusetty |
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Designation : |
Additional Director |
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Address : |
12-2-823A/23,
Santosh Nagar, Mehdipatnam, |
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Date of Birth/Age : |
12.01.1939 |
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Date of Appointment : |
28.09.2010 |
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DIN No.: |
00088454 |
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Name : |
Mr. Manmohan Vedprakash Agarwal |
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Designation : |
Additional Director |
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Address : |
Flat No. 101, |
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Date of Birth/Age : |
04.08.1950 |
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Date of Appointment : |
28.09.2010 |
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DIN No.: |
00681433 |
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Name : |
Dr. Sateesh Kumar Puligundla |
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Designation : |
Director |
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Address : |
Plot No.208, Kalyan Nagar, Near Vengal Rao Nagar, Hyderabad-500038,
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Date of Birth/Age : |
04.06.1958 |
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Date of Appointment : |
27.07.2002 |
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Date of Cessation : |
16.08.2010 |
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DIN No.: |
00023149 |
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Name : |
Mr. Pamidi Kotaiah |
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Designation : |
Director |
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Address : |
102, Pooja Pride, Plot No.75, |
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Date of Birth/Age : |
15.05.1938 |
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Date of Appointment : |
29.01.2008 |
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Date of Cessation : |
12.08.2010 |
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DIN No.: |
00038420 |
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Name : |
Mr. Venkata Subba Rao Idupuganti |
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Designation : |
Director |
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Address : |
1-10-315, Manovikas Nagar, Post, Secunderabad-500009, |
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Date of Birth/Age : |
20.12.1934 |
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Date of Appointment : |
29.01.2008 |
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Date of Cessation : |
14.08.2010 |
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DIN No.: |
01220002 |
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Name : |
Mr. Murari Pejawar |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
19.08.1934 |
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Date of Appointment : |
29.01.2008 |
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Date of Cessation : |
11.07.2009 |
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Name : |
Mr. K. Thanu Pillai |
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Designation : |
Director |
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Date of Birth/Age : |
11-421, Red
Hills, |
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Date of Appointment : |
24.06.2002 |
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Date of Cessation : |
18.07.2008 |
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Name : |
Mr. P. L. Sanjeev Reddy |
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Designation : |
Director |
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Address : |
C3/40, |
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Date of Appointment : |
13.09.2001 |
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Date of Cessation : |
16.06.2003 |
KEY EXECUTIVES
|
Name : |
Mr. S. Sai Subba Rao |
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Designation : |
Secretary |
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Address : |
Plot No.138, Vasavi Nagar, Opposite Karkhana, Secunderabad-500015, |
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Date of Birth/Age : |
02.07.1958 |
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Date of Appointment : |
05.09.2003 |
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Pan No.: |
AFVPS6167G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Prabhakar Rao |
|
16129850 |
|
Asha Priya |
|
3733353 |
|
Srinivas Rao |
|
1200 |
|
V. R. Chowdary |
|
136712 |
|
Total |
|
20001115 |
As On 29.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Power Generation |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2009)
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Power Generation |
Hours Mega Watt |
56.50 |
13.78 |
GENERAL INFORMATION
|
No. of Employees |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Infrastructure
Development Finance Company Limited , |
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Auditors : |
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Name : |
Mastanaiah and Company Chartered Accountant |
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Address : |
11/1, Arundelpet, |
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Pan No.: |
AADFM5561H |
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Subsidiaries : |
CIN: U70102AP2006PTC049313
CIN: U70101AP2001PTC038153
CIN: U45200AP2004PTC044076
CIN: U70102AP2004PTC043960
CIN: U45200AP2005PTC048067
CIN: U45200AP2005PTC048287
CIN: U70102AP2006PTC049312
CIN: U45200AP2005PTC047538
CIN: U70102AP2004PTC043959
CIN: U70102AP2004PTC043961
CIN: U70102AP2004PTC043963
CIN: U45200AP2007PTC055909 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Share |
Rs.10/- Each |
Rs.300.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20001115 |
Equity Share |
Rs.10/- Each |
Rs.200.011
millions |
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|
|
|
|
Note:
Of the above
a)
18,000,000 shares are
allotted as fully paid bonus shares by capitalization of general reserve
b)
1,115 shares are issued
for consideration other than cash
After 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50002000 |
Equity Share |
Rs.10/- Each |
Rs.500.020 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50001115 |
Equity Share |
Rs.10/- Each |
Rs.500.011
millions |
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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 |
200.011 |
200.011 |
200.011 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5677.922 |
5063.953 |
3912.120 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5877.933 |
5263.964 |
4112.131 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8847.088 |
5499.974 |
6737.933 |
|
|
2] Unsecured Loans |
3.778 |
3.778 |
3.778 |
|
|
TOTAL BORROWING |
8850.866 |
5503.752 |
6741.711 |
|
|
DEFERRED TAX LIABILITIES |
200.401 |
261.682 |
306.020 |
|
|
|
|
|
|
|
|
TOTAL |
14929.200 |
11029.398 |
11159.862 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5221.037 |
4172.820 |
3897.186 |
|
|
Capital work-in-progress |
1619.387 |
975.541 |
1248.596 |
|
|
|
|
|
|
|
|
INVESTMENT |
3323.497 |
1138.744 |
896.861 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1858.599
|
1521.881
|
1417.110 |
|
|
Sundry Debtors |
306.277
|
259.868
|
297.243 |
|
|
Cash & Bank Balances |
125.697
|
323.958
|
185.870 |
|
|
Other Current Assets |
0.000
|
0.000
|
65.840 |
|
|
Loans & Advances |
6497.828
|
6895.902
|
6043.313 |
|
Total
Current Assets |
8788.401
|
9001.609
|
8009.376 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
585.475
|
724.232
|
469.397 |
|
|
Other Current Liabilities |
3408.525
|
3532.820
|
2376.721 |
|
|
Provisions |
29.703
|
3.038
|
46.457 |
|
Total
Current Liabilities |
4023.703
|
4260.090
|
2892.575 |
|
|
Net Current Assets |
4764.698
|
4741.519
|
5116.801 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
INTANGIBLES |
0.581 |
0.774 |
0.418 |
|
|
|
|
|
|
|
|
TOTAL |
14929.200 |
11029.398 |
11159.862 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
6476.379 |
5510.595 |
4523.645 |
|
|
|
Other Income |
93.900 |
203.609 |
665.075 |
|
|
|
TOTAL
(A) |
6570.279 |
5714.204 |
5188.720 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Selling and Administrative Expenses |
618.879 |
443.122 |
373.646 |
|
|
|
Cost of Goods Sold |
1791.024 |
1685.746 |
1612.465 |
|
|
|
Processing Expenses |
386.238 |
329.247 |
234.743 |
|
|
|
Personal Expenses |
263.971 |
161.879 |
99.891 |
|
|
|
Research and Development |
116.557 |
74.308 |
36.838 |
|
|
|
Royalty on Sales |
964.088 |
490.203 |
496.384 |
|
|
|
Prior Period Items |
0.000 |
0.000 |
(80.359) |
|
|
|
TOTAL (B) |
4140.757 |
3184.505 |
2773.608 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2429.522 |
2529.699 |
2415.112 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1297.178 |
797.031 |
804.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1132.344 |
1732.668 |
1611.031 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
409.771 |
413.387 |
465.122 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
722.573 |
1319.281 |
1145.909 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
108.632 |
144.047 |
180.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
613.941 |
1175.234 |
965.477 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2475.770 |
1441.936 |
661.885 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
118.000 |
96.548 |
|
|
|
Interim Dividend |
0.000 |
20.001 |
40.002 |
|
|
|
Transfer to Capital Reserve |
0.000 |
0.000 |
1.129 |
|
|
|
Proposed dividend |
0.000 |
0.000 |
35.002 |
|
|
|
Tax on Dividend |
0.000 |
3.399 |
12.745 |
|
|
BALANCE CARRIED
TO THE B/S |
3089.711 |
2475.770 |
1441.936 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
4.665 |
2.347 |
|
|
|
|
NA |
170.593 |
63.648 |
|
|
TOTAL EARNINGS |
NA |
175.258 |
65.995 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Fertilizers (Liquid) |
NA |
0.000 |
2.776 |
|
|
|
Stores & Spares |
NA |
0.000 |
270.526 |
|
|
|
Capital Goods |
NA |
25.597 |
1.185 |
|
|
|
Vegetable Seeds |
NA |
10.958 |
2.856 |
|
|
TOTAL IMPORTS |
NA |
36.555 |
277.343 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.69 |
58.76 |
48.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.34 |
20.56 |
18.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.16 |
23.94 |
22.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.16 |
9.99 |
9.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.25 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19 |
1.85 |
2.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18 |
2.11 |
2.77 |
LOCAL AGENCY FURTHER INFORMATION
CHANGEOF NAME
The name of the
Company has been changed to NSL Renewable Power Private Limited from Nuziveedu Seeds
Private Limited with effect from 16.06.2010.
Performance and Review of Operations
The total income for
the year is of the order of Rs. 6570.300 Millions compared to Rs. 5714.200
Millions in the previous year, denoting an increase of 14.98%. The income
comprises Rs. 6476.400 Millions from
operations and Rs. 93.900 Millions from
other income.
Seed division:
The performance of
Seed Division was commendable during the year achieving a Turnover of Rs. 5565.600 Millions as against previous year’s Turnover
of Rs. 4725.500 Millions. While the
major share is from hybrid BT. Cotton seeds, the contribution from two other
focus crops viz., Paddy and Maize have also added to the overall growth in
Sales of the Company. Apart being numero uno in Hybrid Cotton, this year the
Company has also achieved top position in Research Paddy seed sales. Growth in
Maize seed sales is also very encouraging. Vegetable division performance is
promising
The Company is
focusing towards increasing its market share in Maharashtra,
Vegetable Seeds
divisions have also performed well in the year. The vegetable seeds turnover
for the year has increased to Rs.
142.000 Millionss as against Rs.
66.900 Millionss during the previous denoting a growth over 112%. Now,
with the availability of new superior products, further efforts are intensified
by the company so as to achieve the object of becoming a market leader in
vegetable seeds as well.
Besides
strengthening own network, company is expanding its market through its
associates and co-partners and entered into marketing arrangement with them.
Most notable among these are the exclusive marketing arrangement with the 2nd
largest Fertilizer Cooperative in India i.e. Krishak Bharati Co-operative
Limited i.e.(KRIBCO) and tile marketing arrangements with the largest public
sector corporation viz; the National Seeds Company Limited (NSC). With the
continued thrust in marketing and Research, the Company is poised for a
substantial growth which will enhance the value of the Company in the years to
come.
Further with a view
to improve its overall market share, the Company has acquired 26.71 % Equity in
Yaaganti Seeds Private Limited,
During the year,
tile State of the Art Research Center and Biotech Lab of the Company situated
at Kandla Koya, Secunderabad is completed and become operational from March,
2010. The Center I5 fully equipped with the latest research infrastructure and
equipments for carrying out innovative research in conventional plant breeding and in biotechnology. The Centers
facilitates specialized research and allied facilities viz. Tissue Culture and
Plant Transformation, Molecular Biology, Insect Bioassay, Plant Pathology etc.
Power Division:
During tile year, 20
more machines of Regen make 1500 KW capacity each were commissioned at
Bhimasamudra Wind Farm, Chitradurga District, Karnataka. With this, tile Wind
Farm Division has a total of 68 machines with a capacity of 86.5 MW. The
erection and commissioning of the balance 6 WTGs are in progress thereby taking
the total capacity of wind power to 97.9MW by July 2010.
During the year, the
company has also commenced implementation of Hydro Electric Projects in
Himachal Pradesh for a total capacity of 155MW viz; NSL Tidong (100MW), Tangnu
Romai (44 MW + 6 MW) and NSL Mash SHP (5 MW). Financial closure of all these
projects was achieved during the year.
The Company also
commenced pre-developmental activities in relation to the Wind Power projects
totaling upto 370 MW during the year, which are being implemented in various
SPVs. These projects will be executed over 3 years in a phased manner starting
from financial year 2010-11.
The demerger is
completed and tile company’s efforts to infuse additional capital into tile
power business through tile participation of Private Equity Investors will be
facilitated to provide focused development of Power Business
Scheme of Arrangement
by way of Demerger through court process
A Scheme of Arrangement by way of Demerger Scheme between Nuziveedu Seeds Private Limited (NSPL), NSL Seeds Private Limited, Mandava Holdings Private Limited, NSL Properties Private Limited, NSL SEZ Chennai Private limited and Ascendant Estates Private Limited and their respective Shareholders and Creditors have been filed in the Hon’ble High Courts at Delhi and Andhra Pradesh for the approval pursuant to section 391-394 of the Companies Act 1956. the Scheme envisages transfer of the Seed Undertaking from the company Nuziveedu Seeds Private limited) to vest with the Seed Company i.e. NSL Seeds (Private) Limited, New Delhi; Transfer of Real estate and Investment Undertaking from NSPL to vest with Mandava holdings (Private) Limited, New Delhi; Transfer of IT Infrastructure Undertaking from NSPL to vest with NSI . Properties (Private) Limited, New Delhi; Transfer of the Chennai SLZ Undertaking from NSPT, to vest with NSL SF2 Chennai) Private Limited, Hyderabad; Transfer of the Gurgaon SF2 Undertaking from NSPL to vest with Ascendant Estates (Private) Limited, Hyderabad and Transfer of Real Estate Undertaking from NSL 512 Chennai) Private Limited, Hyderabad to vest with Mandava
Bankers Charges Report as per Registry
|
Corporate
identity number of the company |
U40109DL1985PTC114839 |
|
Name of the
company |
NSL RENEWABLE
POWER PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No. 905, Kunchunjunga Building 18, Barakhamba Road, Connaught Place, New Delhi-110001, Delhi, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
Canara Bank, Corporate Services Branch No.25 E-mail: mgrblr2636@canbank.co.in
|
|
Nature of
instrument creating charge |
Partial repayment
of Rs. 580.000 millions from the total loan amount of Rs.1330.000
millions. NOC dated 26.11.2010 is attached. All the other terms and
conditions remains unchanged |
|
Date of
instrument Creating the charge |
26.11.2010 |
|
Amount secured by
the charge |
Rs.750.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest rate of interest
remain unchanged Terms of
Repayment terms of
repayment remains unchanged Margin margin remains
unchanged Extent and
Operation of the charge According to the
Original Instrument, deed of mortgage by way of deposit of title deeds remains unchanged |
|
Short particular
of the property or asset(s) charged |
According to the Original
Instrument, deed of mortgage by way of deposit of title deeds remains unchanged |
|
Particulars of
the present modification |
Partial repayment
of Rs. 580.000 millions from the total loan amount of Rs.1330.000
millions. NOC dated 26.11.2010 is attached. All the other terms and
conditions remains unchanged |
Fixed Assets
- Land
- Building
- Plant and Machinery
- Computers
- Office Equipment
- Furniture and Fixtures
- Vehicles
- Livestock
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.44.91 |
|
|
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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.