MIRA
INFORM REPORT
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Report Date : |
18.05.2011 |
NOTE: There is no company registered by the name
Aker Solutions Private limited. Aker Solution is the name of the group. Correct
name of the company is Aker Powergas Private Limited.
IDENTIFICATION DETAILS
|
Name : |
AKER POWERGAS PRIVATE LIMITED (w.e.f. 07.05.2008) |
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Formerly Known as : |
AKER KVAERNER POWERGAS PRIVATE LIMITED POWER –GAS INDIA LIMITED |
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Registered Office : |
Powergas House I Think Techno Campus, Kanjur Village, Bita Bldg,
Taluka Kurla Kanjurmarg East, Mumbai – 400042, Maharashtra |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
17.01.1973 |
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Com. Reg. No.: |
11 – 16253 |
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Capital Investment / Paid-up Capital : |
Rs.2.350 Millions |
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CIN No.: [Company
Identification No.] |
U74210MH1973PTC016253 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA25994D |
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PAN No.: [Permanent
Account No.] |
AAACD1981E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Engineering Consultants and Construction Services for Technology
Products and Integrated Solutions. |
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No. of Employees : |
1500 (in office) Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 10162000 |
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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 a part of Aker Group Word wide. It is a well established
company having fine track. Available information indicates high financial responsibility
of the company. Trade relation are
reported as fair. Payments are reported to be usually correct and as per
commitments. The company can be considered good 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.
INFORMATION PARTED BY
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Name : |
Ms. Vasantha |
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Designation : |
Accounts |
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Date : |
25.03.2011 |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-22-66915901 |
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Fax No.: |
91-22-66915937 / 34 |
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E-Mail : |
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Website : |
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Branches : |
Powergas House, Baner Survey No.75/213, |
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Tel No : |
91-20-27290226 |
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Telefax No : |
91-20-27290825 |
DIRECTORS
As on 17.06.2010
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Name : |
Mr. Valborg Lundegaard |
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Designation : |
Director |
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Address : |
Hestehagen 18, 1394 |
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Date of Birth/Age : |
08.05.1960 |
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Date of Appointment : |
17.03.2009 |
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DIN : |
02589211 |
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Name : |
Mr. Pothen Paul |
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Designation : |
Director |
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Address : |
4, Bandra Seahill Apartments, 31/32 |
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Date of Birth/Age : |
09.09.1942 |
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DIN : |
00076712 |
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Date of Appointment : |
01.01.1990 |
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Name : |
Mr. Johan Piet Cnossen |
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Designation : |
Director |
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Address : |
Zirkoon 18, NL-2719 VH Zoetermeer, The |
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Date of Birth/Age : |
12.02.1960 |
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Date of Appointment : |
17.03.2009 |
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DIN : |
02590269 |
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Name : |
Mr. Henning Ostvig |
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Designation : |
Nominee Director |
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Address : |
Seterhoyveien 18E, 1176 |
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Date of Birth/Age : |
03.09.1961 |
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Date of Appointment : |
09.12.2009 |
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DIN : |
02845817 |
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Name : |
Mr. David Craig Hutchinson |
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Designation : |
Nominee Director |
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Address : |
Easthouse, West Coulie, UDNY, |
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Date of Birth/Age : |
26.07.1967 |
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Date of Appointment : |
09.12.2009 |
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DIN : |
02878297 |
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Name : |
Mr. Sanjay Vithalrao Joshi |
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Designation : |
Managing Director |
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Address : |
405, Santoor, Lokpuram, Thane – 400 610 |
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Date of Birth/Age : |
20.04.1959 |
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Date of Appointment : |
01.09.2007 (MD From 05.04.2010) |
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DIN : |
01656787 |
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Name : |
Mr. Pradeep Kumar Dang |
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Designation : |
Director |
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Address : |
2204, |
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Date of Birth/Age : |
13.04.1954 |
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Date of Appointment : |
05.04.2010 |
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DIN : |
03020507 |
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Name : |
Mr. Jarle Tautra |
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Designation : |
Nominee Director |
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Address : |
Aslokkveien, 40B, N-1341 |
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Date of Birth/Age : |
03.06.1953 |
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Date of Appointment : |
14.08.2007 |
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DIN : |
01727093 |
KEY EXECUTIVES
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Name : |
Ms. Smriti Rekha Vijay |
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Designation : |
Secretary |
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Address : |
A-1001, Lakeside, Raheja Vihar, Powai, Mumbai – 400072, |
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Date of Birth/Age : |
06.05.1959 |
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Date of Appointment : |
01.05.2010 |
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PAN : |
AABPS3383H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.06.2010
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Names of Shareholders |
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No. of Shares |
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Aker Solutions ( |
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151266 |
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Mr. M R Menon |
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8000 |
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Mr. A K Basu |
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4000 |
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Mr. S K Biswas |
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1600 |
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Mr. S M Mokashi |
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1600 |
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Mr. P D Gholap |
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1600 |
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Trustees – DGP Staff Education Benefit Trust |
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16466 |
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Trustees – DGP Staff General Benefit Trust |
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16932 |
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Trustees – DGP Staff Medical Benefit Trust |
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16470 |
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Trustees – DGP Staff Recreation Benefit Trust |
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17066 |
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Total |
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235000 |
As on 17.06.2010
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Category |
Percentage |
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Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
64.37 |
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Others |
35.63 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Engineering Consultants and Construction Services for
Technology Products and Integrated Solutions. |
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Exports : |
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Products : |
Engineering Consultants and Construction Services |
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Countries : |
US |
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Terms : |
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Selling : |
L/C / Cash / Credit |
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Purchasing : |
Cash / Credit |
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GENERAL INFORMATION
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Customers : |
1) Corporates 2) Domestic Contracts ·
Reliance Industries Limited, ·
DSM Engineering Plastics ( ·
Reliance Industries Limited, ·
Punj Lloyd Limited, ·
DSI Constructors, Inc., 3) Export Contracts ·
Aker Kvaerner Engineering and ·
Alcoa of Australia Limited, ·
Larsen and Turbo Limited, ·
Plastic Compounding Plant, Pune ·
PMC Services for Construction of PWB Facility. ·
JSPL ·
Front End Engineering for R22 Plant, Dahej |
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No. of Employees : |
1500 (in office) approximately |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Housing Development Finance Corporation Limited, Ramon House, 169,
Backbay Reclamation, H.T. Parekh Marg, Mumbai – 400020, |
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Auditors : |
B S R and Company |
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Chartered Accountant |
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Address : |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai – 400013, Maharashtra, India |
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Tel No.: |
91-22-29896000 |
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Fax No.: |
91-22-39896000 |
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Pan No.: |
AAIFB4734C |
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Holding Company : |
·
Aker Solutions ( ·
Aker Solutions A.S. Norway is the ultimate
holding company |
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Subsidiaries Company : |
Aker Kvaerner Powergas Systems Private Limited CIN No: U24246MH1957PTC010950 |
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Associates : |
Xytel India Private Limited |
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Fellow Subsidiaries : |
·
Aker Business Services AS, ·
Aker Business ·
Aker Subsea Limited – VP Engineering, ·
Aker Engineering and ·
Aker Australia Pty Limited, ·
DSI Constructors Inc, ·
·
Aker Solutions ·
Aker Process Limited, ·
Aker Subsea Limited, ·
Aker Offshore ·
Aker Maritime ·
Aker Engineering SDN BHD, ·
Aker Solutions ·
Aker Solutions Plant Services Group, ·
Aker Solutions ·
Aker ·
Aker MH India Private Limited, ·
Aker E and C Group AS, ·
Aker Process Systems AS, ·
Aker Process Gulf Company Limited, ·
O and G Solutions, ·
Aker Business Services Limited, |
CAPITAL STRUCTURE
As on 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity Shares |
Rs. 10/- Each |
Rs.5.000
Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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235,000 |
Equity Shares |
Rs. 10/- Each |
Rs.2.350 Millions |
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NOTE:
Of
the above shares:
- 30,000 shares are
allotted as fully paid up pursuant to a contract without payment being
received in cash
- 125,000 shares
are allotted as fully paid up by way of bonus shares by capitalisation of
general reserves
- 151,266 shares
(Previous year – 142,200 shares) are held by Aker Kvaerner (
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 (9 Months) |
31.03.2009 (12 Months) |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.350 |
2.350 |
2.350 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2538.264 |
2091.310 |
1345.861 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2540.614 |
2093.660 |
1348.211 |
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LOAN FUNDS |
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1] Secured Loans |
45.494 |
530.559 |
435.030 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
45.494 |
530.559 |
435.030 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2586.108 |
2624.219 |
1783.241 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2271.304 |
283.594 |
304.744 |
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Capital work-in-progress |
2.032 |
1713.484 |
769.563 |
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INVESTMENT |
101.674 |
0.125 |
214.746 |
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DEFERREX TAX ASSETS |
25.894 |
64.314 |
26.335 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Jobs in progress (at lower of cost and net realizable value) |
0.918
|
0.000 |
119.798
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Sundry Debtors |
520.417
|
568.202 |
602.014
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Cash & Bank Balances |
67.675
|
322.584 |
401.423
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Work done not billed |
192.557
|
139.625 |
109.912
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Loans & Advances |
413.047
|
378.220 |
307.666
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Total
Current Assets |
1194.614
|
1408.631 |
1540.813
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
112.055
|
33.862 |
51.520 |
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Other Current Liabilities |
570.634
|
514.561 |
717.047 |
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Provisions |
326.721
|
297.506 |
304.393 |
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Total
Current Liabilities |
1009.410
|
845.929 |
1072.960 |
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Net Current Assets |
185.204
|
562.702 |
467.853 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2586.108 |
2624.219 |
1783.241 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.12.2009 (9 Months) |
31.03.2009 (12 Months) |
31.03.2008 |
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SALES |
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Revenue from Contracts |
2078.000 |
3212.000 |
2357.910 |
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Other Income |
188.000 |
50.000 |
208.390 |
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TOTAL |
2266.000 |
3262.000 |
2566.300 |
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Less |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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Depreciation |
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Finance Expenses |
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TOTAL |
1594.000 |
2134.000 |
1586.670 |
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PROFIT BEFORE
TAX |
672.000 |
1128.000 |
979.630 |
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Less |
TAX |
225.000 |
383.000 |
320.610 |
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PROFIT AFTER TAX
|
447.000 |
745.000 |
659.020 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1783.000 |
1018.000 |
634.730 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
0.000 |
0.000 |
65.900 |
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Dividend |
0.000 |
0.000 |
33.950 |
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Interim Dividend |
0.000 |
0.000 |
117.500 |
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Proposed Final Dividend |
0.000 |
0.000 |
82.250 |
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Add |
Transferred from
foreign project reserve |
7.000 |
20.000 |
23.500 |
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BALANCE CARRIED
TO THE B/S |
2237.000 |
1783.000 |
1017.650 |
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EARNINGS IN
FOREIGN CURRENCY |
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Engineering and Consultation fees |
1071.112 |
1956.774 |
966.902 |
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Recovery of Expenses billed |
25.559 |
53.834 |
32.639 |
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|
|
Other Earnings |
61.044 |
23.551 |
0.000 |
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TOTAL EARNINGS |
1157.715 |
2034.159 |
999.541 |
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IMPORTS |
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Capital Goods |
57.550 |
5.453 |
9.355 |
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TOTAL IMPORTS |
57.550 |
5.453 |
9.355 |
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Earnings Per
Share (Rs.) |
1901.93 |
3172.12 |
2804.33 |
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KEY RATIOS
|
PARTICULARS |
|
31.12.2009 (9 Months) |
31.03.2009 (12 Months) |
31.03.2008 |
|
PAT / Total Income |
(%) |
19.73
|
22.84 |
25.68 |
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Net Profit Margin (PBT/Sales) |
(%) |
32.34
|
35.12 |
41.55 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
19.39
|
66.66 |
53.08 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.54 |
0.73 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.42
|
0.66 |
1.12 |
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|
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Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.67 |
1.44 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS:
|
PARTICULARS |
31.12.2009 (9 Months) |
31.03.2009 (12 Months) |
31.03.2008 |
|
Sundry
Creditors* |
112.055
|
33.862 |
51.520 |
|
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Note : Based on the information available with the Company, there
are no parties under the Micro, Small and Medium enterprises Development Act,
2006 and accordingly the disclosures as required by Notification No.
GSR-719(E) dated 16 November 2007 are not applicable. This has been relied
upon by the Auditors. |
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NOTE:
Registered office address of the company has been shifted from Powergas House, 177, Vidyanagari Marg,
Mumbai – 400 098, Maharashtra, India to the present address w.e.f. 01.12.2009
BACKGROUND:
Aker Powergas Private Limited was incorporated on 17.01.1973. The
company is engaged in the business of providing engineering consultancy
services.
The company is a subsidiary of Aker Solutions (
AWARDS
The Company was an
active participant in industry and global events and won many awards; notable
among them being:
- Star Performer Award in the All India
category for outstanding contribution to engineering export services product group from Engineering Export
Promotion Council of India.
- Performance Award 2009 for Best
Customer Relationship Management awarded at the Operating Managers’
Conference (OMC) 2010 held at
- Environmental initiative recognized by
Aker Solutions Just Care HSE award for e-waste disposal.
- Recognised & felicitated by Ecoreco
and Financial Times of India for ecofriendly e-waste disposal.
- Chemtech 2009 Business Leader of the
year in Engineering Services, awarded to the Chairman, Pothen Paul.
TERM LOAN
The Company had
availed a term loan of Rs. 530 million out of Rs.1 billion sanctioned by HDFC
for the funding of the new office building. This loan was closed in December
2009 and as on date the Company is loan free and the property unencumbered.
OPERATIONS
The Company secured the following major contracts during the year.
|
Client |
Project |
|
Domestic
Contracts |
|
|
ITC limited, Manpura, HP, |
FEED, Detailed Engineering and Construction Management Services for
the Personal Care Unit at Manpura |
|
Hindustan Unilever Limited, Uttarakhand, |
Pre-engineering and Detail Engineering Services for CLS2 Plant at
Haridwar, Uttarakhand |
|
Sterlite Industries Limited, |
Engineering Services for 400,000 MMTPA Copper Smelter Project,
Tuticorin |
|
Supreme Petrochemicals Limited, Nagothane, |
Basic, Detail Engineering, Inspection and Expediting and Construction
Management Services for Expandable Polystyrene Plant at Nagothane |
|
Nagarjuna Oil Corpn. Limited, |
EPCM Services for A10 / 17 Area comprising of Fluidised Catalytic Cracker Unit, LPG
Merox, Jet Fuel Merox, Gasoline Merox Unit, Flue Gas Desulphurisation and
Caustic Storage Unit at Cuddalore |
|
Johnson Matthey Chemicals India Private Limited, Panki, |
Detail Engineering Services for Project Colt, Replica and Electrical
Upgradation |
|
Shell Technology India Private Limited, |
Engineering Services for Basic Design Engineering Package for the Coal
Gasification for Urea Plant in |
|
Volvoline Cummins Limited, |
Basic Engineering, Detail Engineering, Procurement Assistance,
Inspection And Expedi t ing Ser vices and Cons t ruct ion Management for Lube
Oil Blending Plant at Ambernath, Mumbai, India |
|
Bayer Material Science Private Limited, |
MAV supply and Installation of Instrumentation, Electrical & DCS /
SIS systems for PIC unit at Ankleshwar, |
Export Contracts
|
Siirtec |
Detail Engineering of |
|
PTSC Quang NGAI Co. Limited, |
Detail Engineering, Project Management and Procurement Assistance for
Dung Quat Bio-Fuels, Ethanol Project in Quang Ngai Province, S R Vietnam for
Vietnam Oil & Gas Corporation (Petro Vietnam) |
|
Unilever Srilanka Limited, Srilanka |
Detail Engineering Services for relocation of existing Manufacturing
Facilities at Grandpass and Lindel to New Green field location |
The following major contracts were completed during the year under
report.
|
Client |
Project |
|
Reliance Petroleum Limited, |
The Mega PP Project - Detail Engineering of 2 X 450,000 MMTPA PP plant
at |
|
Reliance Industries Limited, |
KG D6 Field Development - Detailed Engineering work for Onshore
Terminals |
|
Punj Lloyd Limited, |
Hydrocracker Unit - Residual Process Design, Detail Engineering and
Field Engineering for 1.7 MMTPA Once Through Hydrocracker Unit (OHCU) Project
for IOCL, Haldia Refinery |
|
Punj Lloyd Limited, |
Hydrogen Generation Unit (HGU)-Residual Process Design, Detail
Engineering and Field Engineering Services For 75,000 MMTPA for IOCL, Haldia Refinery |
|
Larsen and Toubro Limited, |
Detail Engineering of Block 5 Field Development Project 2005 - Package
14 of |
|
Aker Engineering |
GJOA Phase I and II - Technical Support Services for GJOA Semi EPCH
Project |
|
Reliance Petroleum Limited, |
Detail Engineering Services for Impact Reactor System Installation of
PP Line B at Hazira |
|
Reliance Industries Limited, |
Detail Engineering Services for the MA Gas Condensate Project at |
|
Punj Lloyd Limited, Bina, MP, |
Residual Process Design, Detail Engineering and Field Engineering
Services for 360 MMTPD |
|
Ahlstrom Fibercomposites |
Detail Engineering, Project Management, Procurement Assistance, Cost
Control and Inspection / Expediting Services for the Non- Woven Plant at
Mundra |
|
Aker Process Systems, AS, |
Detail Engineering Services for the MEG Module and SRU Skid for Modec
Gas-II, |
|
Aker Process Systems, AS, |
Detail Engineering Services for SRU and Filteration Unit for Modec
Jubilee Project |
|
Aker Process Systems, AS, |
Detail Engineering of Tupi FPSO Modules |
|
Century Paper and Pulp, Lalkua, Uttaranchal, |
Detail Engineering and Supply of Goods for ClO2 Plant, |
EXPORT ORIENTED OFFICES STARTED TO CAPTURE GLOBAL ENGINEERING BUSINESS
Dedicated export oriented offices were started and registered with the
Software Technology Parks of India. These offices will facilitate faster and
more effective deployment of resources in newer opportunities with the Energy
Development and Services (ED&S) Business Area of Aker Solutions with whom
we integrated in April 2009. The fiscal benefits available to STPI units will
enable the company to be a valuable global service provider and make the
Company more price competitive.
DIVESTMENT OF MUMBAI PROPERTIES
The Company having acquired and shifted to a large new office, had
decided to sell the properties in Kalina Mumbai - of the two properties one has
been sold. The process for sale of Powergas House, the other property is
ongoing and is expected to be completed during the year.
FIXED ASSETS:
v
v
v
Building
-
Residential Quarters
- Office Premises
v
Motor Vehicles and motor Cycles
v
Electrical Installation
v
Computers
v
Furniture, Fittings
v
Office Equipments
v
Computer Software
v
Motor Vehicles
Form: 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80012205 |
|
Corporate
identity number of the company |
U74210MH1973PTC016253 |
|
Name of the
company |
AKER KVAERNER POWERGAS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Powergas House
177 – Vidyanagari Marg, Mumbai – 400 098, |
|
Type of charge |
Book debts |
|
Particular of charge
holder |
Standard
Chartered Bank, 90, M E-Mail: reenabang@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Suplementary
Hypothecation Agreement of stocks/book debts/machinery |
|
Date of
instrument Creating the charge |
04.04.2008 |
|
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 Bonds and
Guarantees / LC / OD / WCDL Interest /
Commission – As agreed by and with the Bank from time to time Terms of
repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any Extent and
operation of the charge The Bank is
having first charge on the security offered by the company. |
|
Short particulars
of the property charged |
Hypothecation of all
present and future book debts, outstanding moneys receivables, claims and
bills. |
|
Particulars of
the present modification |
By present
modification, the charge amount enhanced from Rs.310.000 Millions to
Rs.460.000 Millions |
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.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
YES |
|
--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.