1. Summary Information
|
|
|
Country |
|
|
Company Name |
Kirby
Building Systems India Limited |
Principal Name 1 |
Mr. Thomas Samuel |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Urfan Sharif |
|
|
|
Registration # |
01-29787 |
|
Street Address |
Plot
No. 8-15, Phase - III, IDA Phashamyalaram, Medak District – 502 307, |
||
|
Established Date |
20.07.1998 |
SIC Code |
-- |
|
Telephone# |
91-8455-224401-4
/ 226901 |
Business Style 1 |
Manufacture |
|
Fax # |
91-8455-224419 /
226911 / 224427 |
Business Style 2 |
Construction |
|
Homepage |
Product Name 1 |
Pre-Engineered Buildings Systems |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.517,079,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings
(100.00%) |
Banking |
-- |
|
Public Limited Corp. |
NO |
Business Period |
13 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Immediate Holding
Company |
|
Alghanim Industries ( |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,102,388,000 |
Current Liabilities |
1,931,416,000 |
|
Inventories |
754,754,000 |
Long-term Liabilities |
392,156,000 |
|
Fixed Assets |
911,213,000 |
Other Liabilities |
205,389,000 |
|
Deferred Assets |
275,102,000 |
Total Liabilities |
2,528,961,000 |
|
Invest& other Assets |
61,000 |
Retained Earnings |
997,478,000 |
|
|
|
Net Worth |
1,514,557,000 |
|
Total Assets |
4,043,518,000 |
Total Liab. & Equity |
4,043,518,000 |
|
Total Assets (Previous Year) |
3,840,898,000 |
|
|
|
P/L Statement as of |
31.12.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
3,286,448,000 |
Net Profit |
149,252,000 |
|
Sales(Previous yr) |
4,356,860,000 |
Net Profit(Prev.yr) |
(367,559,000) |
MIRA
INFORM REPORT
|
Report Date : |
02.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
KIRBY BUILDING SYSTEMS INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 8-15, Phase - III, IDA Phashamyalaram, Medak
District – 502 307, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2010 |
|
|
|
|
Date of
Incorporation : |
20.07.1998 |
|
|
|
|
Com. Reg. No.: |
01-29787 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.517.079 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28100AP1998PLC029787 |
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and Construction of Pre-Engineered Buildings
Systems |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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. 8-15, Phase - III, IDA Phashamyalaram, Medak
District – 502 307, |
|
Tel. No.: |
91-8455-224401-4 / 226901 |
|
Fax No.: |
91-8455-224419 / 226911 / 224427 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
F No. 2A, 3-6-131, Rukmini Enclave, |
DIRECTORS
As on 29.06.2011
|
Name : |
Mr. Thomas Samuel |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Athi Nilkunnathil, Hill Villa |
||||||||||||||||||||||||
|
Date of Birth/Age : |
16.09.1945 |
||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2005 |
||||||||||||||||||||||||
|
DIN No.: |
00586609 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Urfan Sharif |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Block 2, Street 79, Building 82, BNELD-AL-GAR, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
06.09.1970 |
||||||||||||||||||||||||
|
Date of Appointment : |
25.05.2010 |
||||||||||||||||||||||||
|
DIN No.: |
03088991 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Robert H A Farrow |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
House 19 B, Plot 285, Building 4, Street 1, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
02.07.1957 |
||||||||||||||||||||||||
|
Date of Appointment : |
25.05.2010 |
||||||||||||||||||||||||
|
DIN No.: |
03090416 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Dodle Raju |
||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||
|
Address : |
3-6-185/122, Flat 404, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
10.08.1957 |
||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2010 |
||||||||||||||||||||||||
|
DIN No.: |
02579249 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Nandamuri Ajaya Babu |
|
Designation : |
Secretary |
|
Address : |
108, Mahalakshmi Estates, Block B, Nizampet, Kukatpally, |
|
Date of Birth/Age : |
16.06.1962 |
|
Date of Appointment : |
01.05.2006 |
|
PAN No.: |
AAMPN7001N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.06.2011
|
Names of (Equity) Shareholders |
|
No. of Shares |
|
Alghanim Industries Mauritius Limited, |
|
39999940 |
|
Alghanim Yousuf Kutayba |
|
10 |
|
Alghanim Bassam |
|
10 |
|
Alghanim K Omar |
|
10 |
|
Alghanim K Waleed |
|
10 |
|
Alghanim K Samar |
|
10 |
|
Alghanim Industries WLL, |
|
10 |
|
Total |
|
40000000 |
|
Names of (Preference) Shareholders |
|
No. of Shares |
|
Alghanim Industries Mauritius Limited, |
|
1170790 |
|
Total |
|
1170790 |
As on 29.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Construction of Pre-Engineered Buildings Systems.
|
|
|
|
|
Product Description : |
Pre-Engineered Buildings Systems |
PRODUCTION STATUS (As on 31.12.2010)
|
Particulars |
Installed
Capacity ** |
Actual
Production |
|
Pre Engineered Buildings |
115000 |
48095* |
* Includes work-in-process and quantity used
in-house fabrication of 5079 MT
** As certified by the Management.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited Credit Management Centre, 5-2-183/184, 8751(Old),
3rd Floor, ·
State Bank of ICRISAT Branch, Patancheru, Medak District
– 502 319, · ICICI Bank ·
State Bank of ·
Punjab National Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
Oval Office, 18, iLabs Centre, |
|
Tel. No.: |
91-40-67362000 |
|
Fax No.: |
91-40-67362200 |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Ultimate Holding Company : |
Almana Industries SAK |
|
|
|
|
Intermediate Holding Company : |
|
|
|
|
|
Immediate Holding Company : |
Alghanim Industries ( |
|
|
|
|
Fellow Subsidiaries : |
Rockwool India Limited |
|
|
|
|
|
·
·
·
Yusuf A. Alghanim and Sons W.L.L. ·
Kirby South ·
Kirby Construction Company Private Limited ·
Kirby International PTE Limited, |
CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
88000000 |
Equity Shares |
Rs.10/- each |
Rs.880.000 millions |
|
1200000 |
Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.120.000 millions |
|
|
Total |
|
Rs.1000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000
millions |
|
1170790 |
5% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.117.079
millions |
|
|
Total |
|
Rs.517.079 millions |
Notes
·
Of the above 39999940 equity
shares and the entire preference shares are held by Alghanim Industries (
·
Terms of Preference Shares : Right of preferences over equity on repayment of capital and dividend
outstanding on winding up. No participation in the profits of the Company.
Earliest of redemption is December 31, 2021 at par.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
517.079 |
317.079 |
317.079 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
997.478 |
488.585 |
594.289 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1514.557 |
805.664 |
911.368 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
280.338 |
688.757 |
1007.760 |
|
|
2] Unsecured Loans |
111.818 |
361.351 |
201.273 |
|
|
TOTAL BORROWING |
392.156 |
1050.108 |
1209.033 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1906.713 |
1855.772 |
2120.401 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
911.213 |
1009.463 |
823.271 |
|
|
Capital work-in-progress |
0.050 |
6.542 |
23.329 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.011 |
0.011 |
0.011 |
|
|
DEFERREX TAX ASSETS |
275.102 |
223.190 |
160.927 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
754.754
|
805.946 |
2361.050 |
|
|
Sundry Debtors |
918.893
|
392.659 |
544.187 |
|
|
Cash & Bank Balances |
347.028
|
80.461 |
116.147 |
|
|
Other Current Assets |
261.874
|
446.685 |
293.432 |
|
|
Loans & Advances |
574.593
|
875.941 |
1118.203 |
|
Total
Current Assets |
2857.142
|
2601.692 |
4433.019 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
617.593
|
811.208 |
1128.031 |
|
|
Other Current Liabilities |
1313.823
|
1017.932 |
1931.772 |
|
|
Provisions |
205.389
|
155.986 |
260.353 |
|
Total
Current Liabilities |
2136.805
|
1985.126 |
3320.156 |
|
|
Net Current Assets |
720.337
|
616.566 |
1112.863 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1906.713 |
1855.772 |
2120.401 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
3286.448 |
4356.860 |
7428.297 |
|
|
|
Income from Services |
46.923 |
60.943 |
63.272 |
|
|
|
Other Income |
303.771 |
143.546 |
143.859 |
|
|
|
TOTAL (A) |
3637.142 |
4561.349 |
7635.428 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
1891.290 |
2438.994 |
3813.487 |
|
|
|
Accessories Consumed |
213.606 |
310.521 |
359.422 |
|
|
|
Decrease in Inventories |
51.500 |
65.624 |
504.121 |
|
|
|
Personnel Expenses |
440.127 |
407.497 |
469.751 |
|
|
|
Manufacturing, Administrative and Other Expenses |
585.224 |
1214.457 |
1228.562 |
|
|
|
Selling and Distribution Expenses |
152.155 |
137.073 |
299.018 |
|
|
|
Royalty |
0.000 |
161.116 |
315.183 |
|
|
|
TOTAL (B) |
3333.902 |
4735.282 |
6989.544 |
|
|
|
|
|
|
|
|
Less |
PROFIT/LOSS
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
303.240 |
(173.933) |
645.884 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
97.279 |
185.787 |
231.553 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
205.961 |
(359.720) |
414.331 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.622 |
106.999 |
89.382 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX (E-F) (G) |
97.339 |
(466.719) |
324.949 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(51.913) |
(99.160) |
99.166 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX (G-H) (I) |
149.252 |
(367.559) |
225.783 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
224.730 |
592.289 |
366.506 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
373.982 |
224.730 |
592.289 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Income |
26.981 |
30.360 |
34.305 |
|
|
|
Export Sales |
9.798 |
0.000 |
89.126 |
|
|
|
|
10.376 |
13.235 |
0.000 |
|
|
TOTAL EARNINGS |
47.155 |
43.595 |
123.431 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
26.859 |
333.515 |
831.694 |
|
|
|
Accessories |
7.831 |
18.803 |
35.349 |
|
|
|
Stores and Spares |
18.264 |
28.489 |
62.914 |
|
|
|
Capital Items |
0.000 |
5.890 |
3.325 |
|
|
TOTAL IMPORTS |
52.954 |
386.697 |
933.282 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) Basic Diluted |
0.60 0.58 |
(18.69) (18.69) |
10.98 10.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
4.10
|
(8.06) |
2.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.96
|
(10.71) |
4.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.58
|
(12.92) |
6.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.58) |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.67
|
3.77 |
4.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.31 |
1.34 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
The Registered Office of the company has been shifted from 8-15, Phase3,
IDA Pashamyalaram, Medak – 502 307, Andhra Pradesh, India to the present
address w.e.f. 01.03.2010.
NATURE OF OPERATIONS
The Company is engaged in the business of Manufacture and Construction of Pre-Engineered Buildings Systems. Also, the Company provides designing, drafting and engineering services for construction of Pre-Engineered Buildings.
PERFORMANCE
The Company has achieved a gross turnover of Rs.3555.800 millions (48,762 MT) during the year ending 31.12.2010 as against the gross turnover of Rs.4489.400 millions (56,713 MT) during the previous year ending 31.12.2009. The company has not received any major orders in the southern region during 2010 resulting in lower turnover. Increased competition in this region also contributed to reduction in turnover. As against the loss of Rs.367.600 millions during the previous year (YE 31.12.2009), the Company earned a profit of Rs.149.200 millions during the current year (YE 31.12.2010) as the company was not required to make any abnormal provisions during 2010.
CURRENT YEAR (YE
31.12.2011) OUTLOOK
With the economy showing clear signs of improvement the company have comfortable level of order book position and the performance of the company during the year 2011 is expected to be better than the previous year.
FINANCE
The Company has honored all its financial commitments on the respective due dates and maintained cordial relationship with the financial institutions and banks.
INDUSTRIAL RELATIONS
The Industrial Relations between the Management and the Employees were cordial during the period.
CONTINGENT LIABILITIES NOT PROVIDED FOR
|
Particulars |
As on 31.12.2010 Rs. in millions |
|
Corporate guarantees outstanding |
16.686 |
|
Claim against the Company not acknowledged
as debts |
29.431 |
|
Customers bills discounted |
0.460 |
|
Guarantees issued by bankers on behalf of
the Company toward performance obligations |
388.210 |
|
Arrears of fixed cumulative dividend on 5% redeemable
Preference Shares (Inclusive of Taxes |
63.347 |
|
Income Tax for the assessment year 2004-2005 |
3.380 |
|
Income Tax for the assessment year 2006-2007 |
72.404 |
|
Income Tax for the assessment year 2007-2008 |
83.730 |
|
Central sales tax |
335.439 |
The management is confident that for the above
mentioned contingent liabilities, no provision is required to be made as at
December 31, 2010.
FORM 8
|
Corporate identity number of the company |
U28100AP1998PLC029787 |
|
Name of the company |
KIRBY BUILDING SYSTEMS INDIA LIMITED |
|
Address of the registered office or of the principal place of business in |
Plot No. 8-15, Phase - III, IDA Phashamyalaram, Medak District – 502
307, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10115735 |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
Axis Bank Limited Credit Management Centre, 5-2-183/184, 8751(Old), 3rd
Floor, |
|
Nature of instrument creating charge |
1) Agreement. 2) Sanction Letter. |
|
Date of instrument Creating the charge |
30.07.2011 |
|
Amount secured by the charge |
Rs.980.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 1) CC: At Base Rate + 3.75% i.e. 12.50% p.a with monthly rests. 2)
EPC: At upto 180 days - Base Rate+ 1.75% i.e. 10.50%, Beyond 180 days and up
to 270 days : 13.00% (Base Rate+4.25%) Terms of Repayment Working Capital : On demand. Margin 1) Raw Materials - 25% 2) Stock-in-process - 25% 3) Finished Goods Pkg Materials - 25% 4) Stores & Spares - 25% 5) Book Debts (Cover Period - 90 days) - 25% Extent and Operation of the charge The charge operates as security, inter alia, for the due repayment by
the company to the Axis Bank Limited, CMC, Secunderabad for its limits
sanctioned to the extent of Rs.980.000 millions, together with interest,
additional interest, liquidated damages, commitment charges, premia on
prepayment or on redemption, costs, charges, expenses and all other moneys
payable by the Company to Axis Bank Limited, CMC, Secunderabad. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
There is no change in the security already registered. |
|
Particulars of the present modification |
The existing limits of Rs.1480.000 millions is revised to Rs.980.000
millions. The details of the revised
limits are as under: (Amount Rs. in Millions) 1. Cash Credit - Rs.20.000, 2. WCDL - Rs.90.000, 3. EPC (Sub limit
under CC/WCDL) - (Rs.30.000), 4. LC
(Inland / Import) - Rs.600.000, 5. Purchase Bill Discounting (sub limit under
LC) - (Rs.200.000), 6. Letter of Credit (Inland . Import) for purchase / import
of capital goods (as a sub limit under LC) - (Rs.100.000), 7. BG(Inland /
Foreign) - Rs.270.000 |
FIXED ASSETS
Tangible Assets
·
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Computer and Computer equipments
·
Vehicles
Intangible Assets
·
Software
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.49.07 |
|
|
1 |
Rs.78.78 |
|
Euro |
1 |
Rs.67.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.