MIRA
INFORM REPORT
|
Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ASTER PRIVATE LIMITED (w.ef.11.08.2010) |
|
|
|
|
Formerly Known As
: |
ASTER TELE SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-67, 4th Crescent, Sainikpuri, Secunderabad – 500094,
Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
22.05.1998 |
|
|
|
|
Com. Reg. No.: |
01-029457 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.31.720 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32204AP1998PTC029457 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDA01527B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA5469L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The company is a professionally
driven infra engineering company providing a wide range of products and
services to the telecommunications industry. |
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 15700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established and reputed 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) |
|
|
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 : |
E-67, 4th Crescent, Sainikpuri, Hyderabad – 500094, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-27111199 |
|
Fax No.: |
91-40-27110535 |
|
E-Mail : |
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|
Website : |
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Corporate Office : |
A-8/7, Aishwarya Chambers, A.S.Rao Nagar, Hyderabad – 500062, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-27130273 |
|
Fax No.: |
91-40-27130272 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
73, Siltara Industrial Growth Centre, Phase 2 Raipur
Chhattisgarh-493111, India |
|
Tel. No.: |
91-7771-3091887 |
|
Fax No.: |
91-7771-3093412 |
|
|
|
|
Factory 2 : |
Sankara (PO),Tilda (Tehsil), Raipur, Chhattisgarh – 493111, India |
|
Fax No.: |
91-77721-264421 |
|
|
|
|
Factory 3 : |
2108, 159A/B, Cheriyala X Roads, Hyderabad -501301, India |
|
Tel. No.: |
91-40-32518858/32909662 |
|
Fax No.: |
91-841-8284070 |
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|
|
|
Factory 4 : |
142, Thalla Singaram, Choutuppal, Hyderabad – 508252, Andhra Pradesh,
India |
|
Tel. No.: |
91-8694-272583/272584 |
|
|
|
|
Factory 5 : |
197, 198/b and 251/9, NH-7, Bhoothpur (PO and Mandal), Mehboobnagar
(District) Jedcherla-509301, Andhra Pradesh, India |
|
Tel. No.: |
91-8542-205229 |
|
|
|
|
Branches Located At: |
·
Hyderabad ·
Guwahati ·
Ranchi ·
Bangalore ·
Cochin ·
Indore ·
Ahmedabad ·
Pune ·
Bhubaneswar ·
Narwal ·
Chennai ·
Lucknow ·
Meerut ·
Kolkata ·
Vadodara ·
Raipur |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Srinivasa Prasad Alapati |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No.803, Defence Colony, Vayupuri, Secunderabad- 500094, Andhra
Pradesh |
|
Date of Birth/Age : |
06.08.1966 |
|
Date of Appointment : |
19.03.2005 |
|
DIN No : |
00122353 |
|
|
|
|
Name : |
Mr. Srinivas Chidambaram |
|
Designation : |
Nominee Director |
|
Address : |
A 301, Yamuna Apartments, Alknanda, New Delhi – 110019, India |
|
Date of Birth/Age : |
21.05.1966 |
|
Date of Appointment : |
09.08.2007 |
|
DIN No : |
00514665 |
|
|
|
|
Name : |
Mr. Jacob Kurian |
|
Designation : |
Director |
|
Address : |
Flat no.A32, Shefali Apartments, Aga, Abbasali Road, Bangalore –
560042, Karnataka, India |
|
Date of Birth/Age : |
09.02.1956 |
|
Date of Appointment : |
09.08.2007 |
|
DIN No : |
00213259 |
|
|
|
|
Name : |
Mr. Stephen Wayne Clemons |
|
Designation : |
Director |
|
Address : |
8904, Vistagate Dr. Dallas Texas, US -75243 |
|
Date of Birth/Age : |
28.07.1954 |
|
Date of Appointment : |
17.12.2007 |
|
DIN No : |
00466253 |
|
|
|
|
Name : |
Mr. Raghavendra Rao Bondada |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No.162-1 Sreeram Nagar Colony, Kapra, Hyderabad-500062, Andhra
Pradesh, India |
|
Date of Birth/Age : |
16.05.1974 |
|
Date of Appointment : |
18.07.2008 |
|
DIN No: |
01883766 |
|
|
|
|
Name : |
Mr. Srinivas Sheshadri Raman |
|
Designation : |
Whole Time Director |
|
Address : |
1-4-16 2/28, Plot 28, Maniksai Enclave, Sainikpuri,
Secunderabad-500094, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.07.1973 |
|
Date of Appointment : |
18.07.2008 |
|
DIN No : |
01612819 |
|
|
|
|
Name : |
Mr. Vittal Nagarajan |
|
Designation : |
Additional Director |
|
Address : |
Flat 12, 3rd Floor, Sreela 22, Gilchrist Avenue, Chetpet,
Chennai – 600031, Tamil Nadu, India |
|
Date of Birth/Age : |
31.01.1938 |
|
Date of Appointment : |
17.10.2008 |
|
DIN No : |
00959126 |
|
|
|
|
Name : |
Mr. Indira Jitendra Parikh |
|
Designation : |
Director |
|
Address : |
150/7, Jaideep Prathamesh Park, Baner Balevadi Road, Pune Delhi –
411045, India |
|
Date of Birth/Age : |
29.08.1943 |
|
Date of Appointment : |
17.10.2008 |
|
DIN No : |
00143801 |
|
|
|
|
Name : |
Mr. Nagendra Venkaswamy |
|
Designation : |
Director |
|
Address : |
Plot No.66/1/3, 3rd Floor, Bag Mane Tech Park, C.V.R.
Nagar, Bangalore – 560093, Karnataka, India |
|
Date of Birth/Age : |
18.12.1957 |
|
Date of Appointment : |
17.10.2008 |
|
DIN No : |
02404533 |
|
|
|
|
Name : |
Mr. O.N. Singh |
|
Designation : |
Director |
|
Address : |
1703-A, Lakshchandi High Light Krishnavatika Marg, Gokula Dham, Mumbai
– 400063, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1946 |
|
Date of Appointment : |
16.01.2009 |
|
|
|
|
Name : |
Mr. Rao Kantha Uppala |
|
Designation : |
Director |
|
Address : |
G2 AND G3, D-II, Garden Estate, Jakkur, Bangalore-560064, Karnataka,
India |
|
Date of Birth/Age : |
02.03.1962 |
|
Date of Appointment : |
22.05.1998
|
|
Date of Ceasing |
02.11.2007 |
|
|
|
|
Name : |
Mr. Rajani Uppala |
|
Designation : |
Director |
|
Address : |
G2 AND G3, D-II, Garden Estate, Jakkur, Bangalore-560064, Karnataka,
India |
|
Date of Birth/Age : |
17.07.1968 |
|
Date of Appointment : |
22.05.1998 |
|
Date of Ceasing: |
02.09.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rao Kantha Uppala |
|
15715 |
|
Rajani Uppala |
|
20698 |
|
Srinivasa Prasad Alapati |
|
3147 |
|
Nylim Jacob Ballas India Fund – India |
|
6916 |
|
Jacob Ballascapital India (P) Limited -India |
|
364 |
|
NSR-PE-Mauritius LLC -India |
|
5200 |
|
Aster Members Welfare Trust-India |
|
11400 |
|
Total |
|
63440 |
As On 30.09.2010
|
S. No. |
Category |
Percentage |
|
1 |
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
19.10 |
|
2 |
Directors or
relatives of Directors |
62.36 |
|
3 |
Bodies corporate |
0.57 |
|
4 |
Other top fifty shareholders |
17.97 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is a professionally driven infra engineering company
providing a wide range of products and services to the telecommunications
industry. |
|
|
|
|
Products/Services : |
Telecom and T and D infrastructure and services, etc. |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
|
|
Unit |
Quantity
in MT |
|
Installed
Capacity |
132700 |
|
Actual
Production |
81663 |
GENERAL INFORMATION
|
Customers: |
·
Bharti Enterprises Limited ·
Vodafone Essar Limited ·
Reliance Communication Limited ·
Idea Cellular Limited ·
Tata Indicom Limited ·
Indus Towers Limited ·
Nokia Siemens Networks India Private limited ·
Huawei Technologies Company Limited ·
ZTE Technologies Company Limited ·
Aircel Limited ·
Nortel Networks India Private Limited ·
Alcatel-Lucent India Private Limited ·
NEC India Private Limited |
||||||||||||||||||||||||||||||||||||
|
|
·
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
Oriental Bank of Commerce, 126, S.D. Road Branch, Secunderabad
-500003, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||
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|
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Facilities : |
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Akasam And Associates Chartered Accountant |
|
Address : |
10-1-17/1/1, Masab Tank, Hyderabad – 500028, Andhra Pradesh, India |
|
PAN No : |
ALKPS1598M |
|
|
|
|
Name : |
Deloittee Haskins and Sells Chartered Accountant |
|
Address : |
1-2-10, SP Road, Secunderabad-500003, Andhra Pradesh, India |
|
PAN No : |
AACFD3771D |
|
|
|
|
Subsidiary Company |
·
Aster Global Services Limited ·
Aster Infrastructure Services Limited ·
Aster Building Solutions Private Limited (CIN
No.: U45400AP2008PTC059204) ·
Aster Building Solutions Private Limited ·
Aster Teleservices Nepal Private Limited |
|
|
|
|
Step Down Subsidiary: |
·
Aster Global Services Kenya Limited ·
Aster Global Services (Tanzania) Limited ·
Aster Global Services (Cameroon) Limited ·
Aster Global Services (Cambodia) Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
240000 |
Equity Shares |
Rs.500/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
63440 |
Equity Shares |
Rs.500/-
each |
Rs.31.720
Millions |
Note:
Authorized:
240000 Equity shares of Rs.500 each
(31.03.2009 240000 Equity shares of Rs.500 each)
Issued, Subscribed and Paid Up
63440 Equity shares of Rs.500 each fully paid up
(31.03.2009 63440 Equity shares of Rs.500/- each fully paid up)
(1 )Of the above 5401 shares are allotted as
fully paid up by way on Bonus shares.
(2) Of the above, 5240 shares are allotted as
fully paid up on conversion of compulsory convertible debentures
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 |
31.720 |
31.720 |
28.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3894.989 |
2980.630 |
1297.344 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3926.709 |
3012.350 |
1325.944 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
890.638 |
1491.898 |
1144.201 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
1200.000 |
|
|
TOTAL BORROWING |
890.638 |
1491.898 |
2344.201 |
|
|
DEFERRED TAX LIABILITIES |
97.452 |
122.733 |
111.562 |
|
|
|
|
|
|
|
|
TOTAL |
4914.799 |
4626.981 |
3781.707 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1561.460 |
1526.723 |
962.405 |
|
|
Capital work-in-progress |
40.665 |
52.498 |
66.358 |
|
|
|
|
|
|
|
|
INVESTMENT |
67.626 |
64.127 |
3.567 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1151.784
|
1266.291 |
1222.997 |
|
|
Sundry Debtors |
4105.708
|
3152.557 |
2933.171 |
|
|
Cash & Bank Balances |
65.832
|
48.173 |
245.963 |
|
|
Other Current Assets |
323.953
|
41.871 |
0.000 |
|
|
Loans & Advances |
728.059
|
540.356 |
407.420 |
|
Total
Current Assets |
6375.336
|
5049.248 |
4809.551 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2762.416
|
1831.403 |
1858.832 |
|
|
Other Current Liabilities |
177.503
|
128.934 |
157.902 |
|
|
Provisions |
190.369
|
105.278 |
68.930 |
|
Total
Current Liabilities |
3130.288
|
2065.615 |
2085.664 |
|
|
Net Current Assets |
3245.048
|
2983.633 |
2723.887 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
25.490 |
|
|
|
|
|
|
|
|
TOTAL |
4914.799 |
4626.981 |
3781.707 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11587.604 |
9708.341 |
7743.701
|
|
|
|
Other Income |
65.586 |
138.391 |
64.620 |
|
|
|
TOTAL (A) |
11653.190 |
9846.732 |
7808.321 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in Inventory |
388.170 |
(274.626) |
(277.184) |
|
|
|
Operating Expenses |
8093.086 |
7778.296 |
6027.287 |
|
|
|
Payments and Benefits to Employees |
807.783 |
637.014 |
416.227 |
|
|
|
Administrative, Selling and other Expenses |
636.494 |
540.850 |
383.271 |
|
|
|
Miscellaneous Expenditure Written off |
0.000 |
0.000 |
6.372 |
|
|
|
TOTAL (B) |
9925.533 |
8681.534 |
6555.973 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1727.657 |
1165.198 |
1252.348 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
214.355 |
287.432 |
150.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1513.302 |
877.766 |
1101.484 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
114.787 |
82.269 |
61.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1398.515 |
795.497
|
1040.199
|
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
480.445 |
280.039 |
368.165 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
918.070 |
515.458 |
672.034 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1775.173 |
1263.425 |
594.737 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
3.172 |
3.172 |
2.860 |
|
|
|
Tax on Proposed Dividend |
0.539 |
0.539 |
0.486 |
|
|
BALANCE CARRIED
TO THE B/S |
2689.532 |
1775.172 |
1263.425 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
667.196 |
1090.864 |
538.545 |
|
|
|
Dividend |
11.216 |
11.008 |
12.029 |
|
|
|
Interest |
0.000 |
0.000 |
2.621 |
|
|
|
Other Earnings |
0.000 |
10.325 |
7.942 |
|
|
TOTAL
EARNINGS |
678.412 |
1112.197 |
561.137 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
83.327 |
|
|
|
Capital Goods |
22.225 |
36.051 |
36.230 |
|
|
TOTAL IMPORTS |
22.225 |
36.051 |
119.557 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
|
|
|
|
BASIC |
14,471 |
8,165 |
11,749 |
|
|
|
DILUTED |
14,471 |
8,165 |
10,594 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.87
|
5.23 |
8.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.06
|
8.19 |
13.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.62
|
12.09 |
18.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.26 |
0.78 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.02
|
1.18 |
3.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
2.44 |
2.30 |
LOCAL AGENCY FURTHER INFORMATION
Background:
The Company was incorporated on May 22nd 1998 under the
Companies Act,1956. The company commenced its business with an aim to become a leading
provider of services to the telecommunication industry. The company today is
one of the leading providers of services and products to the telecommunications
industry in India and has diversified into providing services to the
telecommunications industry in geographies other than India. Also the company
has successfully diversified into the power infrastructure area and provides
turnkey services to Grid and State Electricity Companies.
Business Overview:
The current financial year 2009-10 has been a good year for the company,
with robust growth in revenues accompanied by a very healthy recovery in
profitability compared to the financial year 2008-09. The current year has seen
your company maintain its leading position in the domain telecom infrastructure
market and registering growth in the life cycle services in this domain namely,
RF Engineering Services, Network Engineering services and Operations and
Maintenance Services.
In line with the company
strategy, the management has focused on diversification opportunities over the
last few years. The current financial year has resulted in revenue from the
Transmission and Distribution segment of INR Millions, which is a growth of
155% over the previous year. The Transmission and Distribution revenues contributed
to 34% of total revenue of the company when compared to 16% in the previous
financial year.
The company operates in a verticals and strategic Business Unit
structure in order to have the required focus and attention that each
sector/customers require in order to succeed in those areas.
Contingent
Liabilities:
a i) Liability towards irrevocable letter of
credit established Rs.62.704 Millions (Previous Year Rs.207.788 Millions)
ii) Liability in respect of Bank Guarantees
Rs.3850.622 Millions (Previous Year Rs.1715.251 Millions)
iii) Corporate guarantees given for other
companies Rs.932.500 (Previous Year Rs.89.500 Millions)
iv) Corporate guarantees given to customer
Rs.96.390 (Previous Year Rs.9.361)
b) Claims against the company not acknowledged
as debts Rs.234.238 Millions (Previous Year Rs.6.441 Millions)
Fixed Assets:
Tangible Assets
·
Land – Free Hold
·
Building – Non Factory
·
Building – Factory
·
Temporary Erections
·
Computers
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
·
Technical Know-How
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.44.98 |
|
|
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
8 |
|
--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.