MIRA
INFORM REPORT
|
Report Date : |
11.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
CAPARO ENGINEERING INDIA LIMITED (w. e. f. 10.10.2011) |
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Formerly Known
as : |
CAPARO ENGINEERING INDIA PRIVATE LIMITED |
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Registered
Office : |
101-104, 1st Floor, Naurang House, 21, Kasturba Gandhi
Marg, |
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Country : |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
09.05.2000 |
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Com. Reg. No.: |
55-105609 |
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Capital
Investment / Paid-up Capital : |
Rs.5509.308
Millions |
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CIN No.: [Company Identification
No.] |
U74101DL2000PLC105609 |
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TIN No.: |
09966301205 (Noida), 07190318576 ( |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject provides Sheet metal components and allied products, Metal
fasteners, Metal tubes, Aluminum die casting components, Forged/machined
steel components for automotive industries. |
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No. of Employees
: |
9000+ Employees in Caparo Group (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 17410000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Caparo Group, Worldwide. It is an established
company having moderate track. There appears huge accumulated losses recorded
by the company. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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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
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Registered Office/ Factory : |
101-104, 1st Floor, Naurang House, 21, Kasturba Gandhi
Marg, New Delhi – 110001, India |
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Tel No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : |
Plot No. -7, Maruti JV Complex, |
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Tel. No.: |
91-124-4318000 |
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Fax No.: |
91-124-4318000 |
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E-Mail : |
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Factory 2 : |
Chopanki Industrial Area, Near Bhiwadi, Plot No. A-7, Bhiwadi – 301707,
Rajasthan, India |
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Plant : |
The Company has increased the number of manufacturing plants from five
in 2006 to 18 as on December 31, 2009. The plants are located at various
locations across India including Indore, Greater Noida (Uttar Pradesh),
Chennai (TamilNadu), Jamshedpur (Jharkhand), Halol (Gujarat), Pune
(Maharasahtra) and Dewas (Madhya Pradesh) |
DIRECTORS
As on 29.06.2011
|
Name : |
Mr. Rajesh Prasad |
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Designation : |
Managing Director |
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Address : |
E -155, Sarita Vihar, New Delhi – 110076, India |
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Date of Birth/Age : |
22.07.1958 |
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Date of Appointment : |
02.08.2008 |
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DIN No.: |
02341590 |
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Other Directorship :
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Name : |
Mr. Manoj Kumar Sinha |
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Designation : |
Additional Director |
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Address : |
J-1/38, G.F., DLF City, Phase -2, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
20.12.1966 |
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Date of Appointment : |
03.11.2010 |
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DIN No.: |
03310902 |
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Other Directorship :
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Name : |
Mr. Angad Paul |
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Designation : |
Director |
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Address : |
Penthhouse, Ambika House, 9a, Portland Place, London, W1b1PR, United
Kingdom |
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Date of Birth/Age : |
04.08.1970 |
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Date of Appointment : |
19.05.2000 |
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DIN No.: |
01475142 |
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Other Directorship :
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Name : |
Mr. Suneel Kumar Khanna |
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Designation : |
Additional Director |
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Address : |
A-175, D. L. F. , Phasse – 3, Belvedere Park and Tower, VIII Nathupur,
Gurgaon - 122002, Haryana, India |
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Date of Birth/Age : |
02.08.1957 |
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Date of Appointment : |
03.11.2010 |
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DIN No.: |
02936706 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Sanjay Kumar Lalit |
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Designation : |
Secretary |
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Address : |
H – 475, H – Block, Palam Vihar, Gurgaon – 122017, Haryana, India |
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Date of Birth/Age : |
09.09.1963 |
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Date of Appointment : |
03.11.2010 |
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PAN No. : |
AABPL5418L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.06.2011
|
Names of Shareholders |
No. of Shares |
|
Caparo India Private Limited, India |
20 |
|
Caparo India Limited, UK |
126229687 |
|
Blue Elephant Finance Limited, Mauritius |
424701048 |
|
Total |
550930755 |
Equity Share Break up (Percentage of Total Equity)
As on 29.06.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.99 |
|
Bodies corporate |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject provides Sheet metal components and allied products, Metal
fasteners, Metal tubes, Aluminum die casting components, Forged/machined steel
components for automotive industries. |
GENERAL INFORMATION
|
No. of Employees : |
9000+ Employees in Caparo Group (Approximately) |
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Bankers : |
·
Yes Bank Limited, 9th Floor, Nehru Centre,
Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India ·
Central Bank of India, S. M. Road, Ahemdabad –
380015, Gujarat, India ·
Canara
Bank, Prime Corporate Branch, Spencer Tower I, Ground Floor, 770, Anna
Salai, Chennai – 600002, Tamil Nadu, India ·
State Bank of Indore, 115, Broadway, Chennai –
600108, TamilNadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
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Address : |
12, Bhagat Singh Marg, New Delhi – 110001, India |
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Tel. No.: |
91-11-23710176/ 23710177/ 23364671/ 2414 |
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Fax No.: |
91-11-23345166/ 23314309 |
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E-Mail : |
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PAN.: |
AABFL1894Q |
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Holding Company : |
Caparo India Limited UK |
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Subsidiaries Company : |
Caparo MI Steel Processing Private Limited CIN No.: U34300DL2007PTC158139 |
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Caparo Vehicle Products India Private Limited CIN No.: U34200DL2007PTC161380 |
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Parties where control exists : |
Upto 11.01.2010 : (A) Caparo plc — Ultimate Holding Company (B) SubsIdiaries of Caparo plc: · Caparo Hotels Limited · Caparo Ventures Limited · A V Pictures Limited · Caparoespana SL (Spain) · Established and Sons Limited · Caparo Industries plc (UK). (C) Subsidiary řf Caparospana SI. (Spain):. · LIPE SA (Spain) (D) Subsidiaris of Caparo Industries plc (UK) :- ·
Caparo Engineering Limited Divsions :Clydesdale Jones and Company; and Clydesdale Forge · Caparo Steel Products Limited · Caparo Vehicle Product Limited · Caparo Merchant Bar Plc · Caparo Precision Tubes Limited · Caparo Precision Strip Limited · Material Measurements Limited · Armstrong Precision Components Limited · Caparo Aluminium Technologies Limited · Bridge Aluminium Limited · Zuo Bomet SA (Poland) · Systems Scaffolding Limited · Caparo AP Braking Limited · Caparo Atlas Fastening Limited · Caparo Vehicles Technologies United · Bull Moose Tube Company (USA) · Bull Moose Tube ULC (Canada) · Capero Vehicles Components Inc (USA) · Caparo Components Vehiculares (Mexico) ·
Fellow Subsidiaries : · Caparo India Private Limited (India) · Caparo Maruti Limited (India), (CML) · Caparo Modular Systems Limited (U. K.), (CMS) ·
Subsidiaries : · Caparo MI Steel Processing Private Limited (India) (CMISIL) (a joint venture) · Caparo Vehicles Products India Private Limited (India) Subsidiary of Caparo Vehicles Products India Private Limited : · Bawal Power Private Limited (India) Enterprise under Common Control : · Caparo Financial Solutions Limited (India) |
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w. e. f. 11.01.2010
: (a) Zatalo Finance BVI Hold Co (Switzerland) – Ultimate Holding Company (b) Subsidiaries Qf Zatalo Finance BVI Hold Co ( · White Tiger Finance Limited (Maunitius) Blue Elephant Finance tirnited ( (c) Subsidiary of White Tiger Finance Limited (Mauritius):- · Caparo Financial Solution Limited (India) (d) Fellow Subsidiary Company: · Caparo India Private Limited (India) (e) Subsidiary Companies: · Caparo Vehicle Products India Private Limited (India) · Caparo MI Steel Proces5ing Private Limited (India) (CMISIL) (a joint venture) ·
(f) Subsidiary of Caparo Vehicle Products India Private Limited (India) · Caparo Power Private Limited (India) (CPPL) · Caparo Engineering and Construction Private Limited (India) ·
(g) Common Ownership Interest: Caparo Group
Limited, UK Subsidiaries of Caparo Group Limited - Caparo PLC Subsidiaries of
Caparo plc : · Caparo Hotels Limited · Caparo Ventures Limited · Caparoespana SL (Spain) · Caparo Medical Products Limited · Caparo Industries plc (UK) Subsidiary of
Caparoespana SL (Spain) : Caparo Atlas Espana SA (Spain) Subsidiaries of
Caparo Industries plc (UK) : · Caparo Engineering Limited (Includes Clydesdale jones as a division) · Caparo Steel Products Limited · Caparo Vehicle Products Limited · Capare Merchant Bar Plc · Caparo Precision Tubes Limited · Caparo Precision Strip Limited · Caparo Precision Strip Inc. (0.5) · Caparo t4odular Systems Ltd. (U.K).(CMS) · Material Measurements Limited · Caparo Aluminium Technologies Limited · Bridge Aluminium United · Zue Bernet SA (Poland) · Caparo AP Braking Limited · Ca pare Atlas Fastening Limited · Caparo Forging Europe · Caparo Vehicles Technologies Limited · Caparo Tuba Components Limited · Caparo Tube Components 2 Limited · Caparo Accies and Pollock Limited · Ti Car Limited · Gweda Palou Limited · Caparo India Limited Subsidiary of
Caparo India Limited, UK :- · Caparo Maruti Limited (India) Others : · Bull Moose Tube Company (USA) · Bull Moose Tube ULC (Canada) · Caparo Vehicles Components Inc (USA) · Vehicles Components Caparo Da Mexico S de RL de CV (Mexico) · Caparo SA (trading as Caparo (GCC) and Caparo Testing Technologies (Middle East) (Switzerland) |
CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000000 |
Equity Shares |
Rs.10/- each |
Rs.7500.000 Millions |
|
250000000 |
|
Rs.10/- each |
Rs.2500.000 Millions |
|
|
Total |
|
Rs.10000.000
MIllions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
550930755 |
Equity Shares# |
Rs.10/- each |
Rs.5509.308
Millions |
|
|
|
|
|
# Includes 2205272 Nos of shares issued to
Caparo India Limited, UK without payment being received in cash.
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 |
5509.308 |
2318.662 |
1240.234 |
|
|
2] Share Application Money |
0.001 |
0.001 |
1628.420 |
|
|
3] Reserves & Surplus |
1545.945 |
4204.817 |
3232.028 |
|
|
4] (Accumulated Losses) |
(2702.731) |
(2223.900) |
(1438.070) |
|
|
NETWORTH |
4352.523 |
4299.580 |
4662.612 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5582.170 |
5202.137 |
4604.871 |
|
|
2] Unsecured Loans |
329.500 |
150.000 |
0.000 |
|
|
TOTAL BORROWING |
5911.670 |
5352.137 |
4604.871 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10264.193 |
9651.717 |
9267.483 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6006.158 |
5847.756 |
3841.792 |
|
|
Capital work-in-progress |
819.225 |
1224.293 |
2996.212 |
|
|
|
|
|
|
|
|
INVESTMENT |
489.213 |
489.731 |
489.730 |
|
|
DEFERREX TAX ASSETS |
114.414 |
114.414 |
114.414 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1425.263
|
1026.733 |
1063.845 |
|
|
Sundry Debtors |
1863.332
|
1296.360 |
1040.353 |
|
|
Cash & Bank Balances |
219.679
|
322.703 |
146.508 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1910.909
|
1342.328 |
1393.263 |
|
Total
Current Assets |
5419.183
|
3988.124 |
3643.969 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
460.964
|
521.125 |
877.499 |
|
|
Other Current Liabilities |
2070.125
|
1379.975 |
765.226 |
|
|
Provisions |
52.911
|
111.501 |
175.909 |
|
Total
Current Liabilities |
2584.000
|
2012.601 |
1818.634 |
|
|
Net Current Assets |
2835.183
|
1975.523 |
1825.335 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10264.193 |
9651.717 |
9267.483 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
5750.177 |
4938.419 |
|
|
|
Other Income |
|
280.037 |
183.127 |
|
|
|
TOTAL (A) |
9207.791 (Total
Revenue) |
6030.214 |
5121.546 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
3514.855 |
3569.025 |
|
|
|
Increase / Decrease in Stocks |
8508.408 |
75.722 |
(185.071) |
|
|
|
Manufacturing Expenses |
|
840.622 |
749.499 |
|
|
|
Purchases |
|
326.115 |
197.467 |
|
|
|
Personal Expenses |
|
587.332 |
563.230 |
|
|
|
Administration and Other Expenses |
|
492.448 |
547.967 |
|
|
|
TOTAL (B) |
8505.408 |
5837.094 |
5442.117 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
631.445 |
193.120 |
(320.571) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
666.914 |
494.820 |
427.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(35.469) |
(301.700) |
(747.650) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
514.300 |
480.754 |
361.514 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (G) |
(478.831) |
(782.454) |
(1109.165) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
3.375 |
9.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX (G-H) (I) |
(478.831) |
(785.829) |
(1118.674) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2223.900) |
(1438.070) |
(319.396) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2702.731) |
(2223.900) |
(1438.070) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Services-Designing and Prototyping charges |
NA |
0.000 |
2.565 |
|
|
|
FOB Value of Export |
NA |
45.779 |
545.474 |
|
|
TOTAL EARNINGS |
NA |
45.779 |
548.039 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
177.053 |
85.916 |
|
|
|
Stores & Spares |
NA |
146.077 |
11.862 |
|
|
|
Capital Goods |
NA |
251.218 |
688.541 |
|
|
TOTAL IMPORTS |
NA |
574.348 |
786.319 |
|
|
|
|
|
|
|
|
|
|
Earnings/ Loss
Per Share (Rs.) |
(1.13) |
(4.32) |
(13.16) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
(5.20)
|
(13.03) |
(21.84) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.20)
|
(13.61) |
(22.46) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.19)
|
(7.96) |
(14.82) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
(0.19) |
(0.24) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.95
|
1.71 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09
|
1.98 |
2.00 |
LOCAL AGENCY FURTHER INFORMATION
OVERALL PERFORMANCE
During the year,
the Company had businesses from various major OEMs like Tab Molon, Eicher Motors, General Motors, Asliok Lcylands,
Piaggio, TAFE, Ford, Nissan and other major automotive leaders.
During the year,
the automotive industry all over the worId exhibited stable growth. The Company
also is making sincere efforts to sustain its market share in existing business
and aIso increase its portfolio by business development in exports and export
substitution thereby posting 50% increase in revenue to 9207.791 Millions. The
Company is confident that with the forthcoming launch of new modles by all the major existing OEMs as well as entry of other GIobal
Players like Peugeot Citroen, Renault etc., p0sitit.e growth will be witnessed
in the coming )year(s).
FORM 8
|
Corporate identity number of the company |
U74101DL2000PLC105609 |
|
Name of the company |
CAPARO ENGINEERING INDIA LIMITED |
|
Address of the registered office or of the
principal place of business in |
101-104, 1st
Floor, Naurang House, 21, Kasturba Gandhi Marg, New Delhi – 110001, India Email Id: caparo@satyam.net.in |
|
This form is for |
Creation of Charge |
|
Charge identification (ID) number of the
charge to be modified |
Book Debts Movable property Floating charge Others All Current Assets and Movable Fixed
Assets |
|
Type of charge |
Yes Bank Limited 9th Floor, Nehru Centre,
Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India Email Id: DelhiCADMidoffice@YESBANK.IN |
|
Particular of charge holder |
Deed of Hypothecation dated March 18, 2011 |
|
Nature of instrument creating charge |
18.03.2011 |
|
Amount secured by the charge |
Rs.180.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of Interest Sales Bill Discounting: To be decided Terms
of repayment Sales Bill Discounting: NA Margin Sales Bill Discounting: 10% of the
underlying invoice value Extent
and operation of the charge First Pari Passu charge on all the current
assets of the borrower (both present and future) Second Pari Passu charge on
all the movable fixed assets of the borrower (both present and future) Others Nil |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
First Pari Passu charge on whole of
current assets of the borrower’s stocks of raw material, semi finished and
finished goods, stores and spares, bills receivables and book debts (both
present and future) Second Pari Passu charge on whole of
movable fixed assets of the borrower (both present and future) located
anywhere in India |
Contingent liabilities
Not Provided for As on 31 December 2010:
(to the extent as
identified, assessed and certified by the management)
i) Custom duty saved -excluding interest &
penalty {Guarantee given to customs authorities for tmport of capital goods
under EPCG license to the extent export obligation are outstanding Rs.
484,029,666 (Previous Year Rs.484.030 Millions)}, pending fulfillment of export
obligation. – Rs.265.442 Millions
ii) Bank Guarantees – Rs.41.024 Millions
iii) Bills Discounted with Banks – Rs.290.936 Millions
iv) Income fax Demand contested in appeals – Rs.6.096 Millions
v) Excise Duty Demand*– Rs.24.131 Millions
vi) Sales Tax Demand – Rs.0.922 Millions
viii) Claim against the company not acknowledged as debt – Rs.1.676
Millions
ix) Others **– Rs.7.276 Millions
* Includes Rs.8.694 Millions as per show cause
notice and excluding interest; interest on the same will be considered as and when levied.
**does not include
certain labour related claims, which are disputed by the company. Management does
not expect any material liability on this account as they feel that the claims
raised on the company are not tenable in law.
FIXED ASSETS
·
Land Leasehold (2) and
(4)
·
Land Freehold (2)
·
Buildings
·
Leasehold Improvement
·
Plant and Machinery
·
Furniture, Fixtures and
Office Equipments
·
Vehicles
·
Specialized Softwares
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.48.78 |
|
|
1 |
Rs.80.11 |
|
Euro |
1 |
Rs.68.82 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.