1. Summary Information
|
|
|
Country |
India |
|
Company Name |
TVS Logistics Services Limited |
Principal Name 1 |
Mr. Suresh Krishna |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. S. Ram |
|
|
|
Registration # |
18-054655 |
|
Street Address |
TVS Building, 7-B, West Veli Street, Madurai – 625001, Tamilnadu,
India |
||
|
Established Date |
16.11.2004 |
SIC Code |
-- |
|
Telephone# |
91-452-2356400 |
Business Style 1 |
Providing Logistic
Services. |
|
Fax # |
91-452-2341587 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.174,122,000/-
|
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings- 26.61%, Bodies corporate- 65.96%, Directors or relatives of
directors- 2.71%, Other top fifty shareholders 4.67%, Other-0.05% |
Banking |
Stat Bank of India |
|
Public Limited Corp. |
No |
Business Period |
7 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
UK |
TVS
Automotive Europe Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1418,213,000 |
Current Liabilities |
487,368,000 |
|
Inventories |
2,613,000 |
Long-term Liabilities |
578,881,000 |
|
Fixed Assets |
466,970,000 |
Other Liabilities |
34,535,000 |
|
Deferred Assets |
12,912,000 |
Total Liabilities |
1,100,784,000 |
|
Invest& other Assets |
430,724,000 |
Retained Earnings |
1056,526,000 |
|
|
|
Net Worth |
1230,648,000 |
|
Total Assets |
2,331,432,000 |
Total Liab. & Equity |
2,331,432,000 |
|
Total Assets (Previous Year) |
1,963,924,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
2,736,553,000 |
Net Profit |
40,166,000 |
|
Sales(Previous yr) |
2,429,900,000 |
Net Profit(Prev.yr) |
31,933,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
TVS LOGISTICS SERVICES LIMITED |
|
|
|
|
Registered
Office : |
TVS Building, 7-B, West Veli Street, Madurai – 625001, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.11.2004 |
|
|
|
|
Com. Reg. No.: |
18-054655 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.174.122
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63011TN2004PLC054655 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIT01242D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Logistic Services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an 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 : |
TVS Building, 7-B, West Veli Street, Madurai – 625001, Tamilnadu,
India |
|
Tel. No.: |
91-452-2356400 |
|
Fax No.: |
91-452-2341587 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
58, Eldams Road, TK Kumarasamy Road, Teynampet, Chennai – 600015,
Tamilnadu, India |
|
Tel. No.: |
91-44-66793222 |
|
Fax No.: |
91-44-66793127 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Suresh Krishna |
|
Designation : |
Director |
|
Address : |
79, Poes Gorden, Chennai-600 086, |
|
Date of Birth/Age : |
24.12.1936 |
|
Date of Appointment : |
16.11.2004 |
|
|
|
|
Name : |
Mr. S. Ram |
|
Designation : |
Director |
|
Address : |
Old No.29, New No.57, |
|
Date of Birth/Age : |
27.04.1940 |
|
Date of Appointment : |
16.11.2004 |
|
|
|
|
Name : |
Mr. R. Dinesh |
|
Designation : |
Director |
|
Address : |
16, |
|
Date of Birth/Age : |
25.02.1965 |
|
Date of Appointment : |
01.09.2008 |
|
|
|
|
Name : |
Mr. Gopal Srinivasan |
|
Designation : |
Director |
|
Address : |
Old No.2, New No.3, West Side Houses, Adyar Club, Gate Road
Chennai-600 028, Tamilnadu, India |
|
Date of Birth/Age : |
04.08.1958 |
|
Date of Appointment : |
05.08.2005 |
|
|
|
|
Name : |
Mr. Tarun Khanna |
|
Designation : |
Director |
|
Address : |
66, Druid Hill road, |
|
Date of Birth/Age : |
09.05.1966 |
|
Date of Appointment : |
21.11.2007 |
|
|
|
|
Name : |
Mr. Sanjeev Mishra |
|
Designation : |
Director |
|
Address : |
44, |
|
Date of Birth/Age : |
07.01.1958 |
|
Date of Appointment : |
25.08.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Raghuvanth Ravi |
|
Designation : |
Company Secretary |
|
Address : |
B4, Vaigai Vilas, |
|
Date of Birth/Age : |
20.10.1954 |
|
Date of Appointment : |
08.09.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
T V Sundram Iyengar and Sons Limited, |
|
12000000 |
|
R Ramesh |
|
6760 |
|
Suresh Krishna |
|
12500 |
|
K Ramesh |
|
12500 |
|
K Mahesh |
|
12500 |
|
G S Logistics Holdings Limited, |
|
4825530 |
|
TVS Shriram Growth Fund I, |
|
241270 |
|
R Dinesh |
|
390800 |
|
Raghunath Ravi |
|
100956 |
|
S. Ravichandran |
|
195400 |
|
Thangaraj Chinnadurai |
|
15000 |
|
Shukla Anay Prabhakar |
|
10000 |
|
Tapan |
|
20000 |
|
H Janaarduna Iyer |
|
20000 |
|
B Ganapathi Sarma |
|
20000 |
AS ON 29.09.2010
|
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] |
|
26.61 |
|
Bodies
corporate |
|
65.96 |
|
Directors
or relatives of directors |
|
2.71 |
|
Other
top fifty shareholders |
|
4.67 |
|
Other
|
|
0.05 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Logistic Services |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Commercial Branch, 6A, West Veli Street, Madurai - 625001,
Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
|
|
|
|
|
Holding Company: |
· T V Sundram Iyengar and Sons Limited |
|
|
|
|
Subsidiaries (including step down subsidiaries) : |
·
TVS Dynamic Global Freight Services
Limited ·
TVS Commutati n Solutions Limited ·
TVS Automotive Europe Limited, ·
TVS Logistics Siam Limited, ·
TVS Logistics Investment UK Limited, ·
Yelestre Holdings Limited, ·
Multipart (Holdings) Limited, ·
Multipart Solutions Limited, ·
MSys Software Solutions Limited, ·
IH Crick Property Co Limited, ·
Globe Dynamics Limited, ·
Globe Transport Products Limited, ·
TVS CJ Components Limited, ·
TVS Logistics ·
TVS Autoser V |
|
|
|
|
Fellow subsidiaries : |
·
Sundaram Industries Limited ·
Lucas TVS Limited ·
Lucas Indian Service Limited ·
Southern Roadways Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity shares |
Rs.10/- Each |
Rs.300.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12150000 |
Equity shares |
Rs.10/- Each |
Rs.121.500
millions |
|
5066800 |
Equity shares |
Rs.10/- Each |
Rs.50.668
millions |
|
390800 |
Equity shares |
Rs.10/- Each |
Rs.3.908
Millions |
|
275800 |
Equity shares |
Rs.10/- Each |
Rs.2.758
millions |
|
310400 |
Equity shares |
Rs.10/- Each |
Rs.3.104
millions |
|
|
|
|
|
|
|
Total |
|
Rs.181.938 Millions |
Called, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17216800 |
Equity shares |
Rs.10/- Each |
Rs.172.168
Millions |
|
977000 |
Equity shares |
Rs.2/- Each |
Rs.1.954
millions |
|
|
|
|
|
|
|
Total |
|
Rs.174.122 millions |
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 |
174.122 |
174.122 |
172.168 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1056.526 |
1030.573 |
1003.709 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1230.648 |
1204.695 |
1175.877 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
478.881 |
356.886 |
112.322 |
|
|
2] Unsecured Loans |
100.000 |
101.760 |
219.661 |
|
|
TOTAL BORROWING |
578.881 |
458.646 |
331.983 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1809.529 |
1663.341 |
1507.860 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
466.970 |
409.013 |
163.907 |
|
|
Capital work-in-progress |
0.000 |
58.941 |
54.478 |
|
|
|
|
|
|
|
|
INVESTMENT |
430.724 |
215.756 |
183.983 |
|
|
DEFERREX TAX ASSETS |
12.912 |
12.032 |
8.571 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.613
|
2.583 |
0.000 |
|
|
Sundry Debtors |
792.934
|
527.496 |
601.737 |
|
|
Cash & Bank Balances |
201.255
|
367.835 |
569.800 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
424.024
|
370.268 |
222.962 |
|
Total
Current Assets |
1420.826
|
1268.182 |
1394.499 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
429.156
|
258.102 |
266.469 |
|
|
Other Current Liabilities |
58.212
|
22.165 |
22.212 |
|
|
Provisions |
34.535
|
20.316 |
8.897 |
|
Total
Current Liabilities |
521.903
|
300.583 |
297.578 |
|
|
Net Current Assets |
898.923
|
967.599 |
1096.921 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1809.529 |
1663.341 |
1507.860 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2736.553 |
2429.900 |
2241.554 |
|
|
|
Other Income |
18.627 |
26.785 |
2.492 |
|
|
|
TOTAL (A) |
2755.180 |
2456.685 |
2244.046 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee costs |
560.198 |
448.519 |
288.949 |
|
|
|
Operating, Administrative and other Expenses |
2010.411 |
1855.392 |
1821.023 |
|
|
|
Prior Period Items |
0.000 |
14.513 |
0.000 |
|
|
|
TOTAL (B) |
2570.609 |
2318.424 |
2109.972 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
184.571 |
138.261 |
134.074 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.525 |
46.231 |
56.922 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
131.046 |
92.030 |
77.152 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
66.449 |
31.708 |
22.605 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
64.597 |
60.322 |
54.547 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
24.431 |
28.389 |
23.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.166 |
31.933 |
30.959 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
103.017 |
81.347 |
67.594 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.016 |
3.193 |
3.136 |
|
|
|
Interim Dividend Paid |
0.000 |
0.000 |
6.000 |
|
|
|
Proposed Dividend |
12.188 |
6.043 |
6.026 |
|
|
|
Tax on Dividend |
2.024 |
1.027 |
2.044 |
|
|
BALANCE CARRIED
TO THE B/S |
124.955 |
103.017 |
81.347 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
28.542 |
12.345 |
6.880 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
1.073 |
49.420 |
48.005 |
|
|
|
Capital Goods |
0.353 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
1.426 |
49.420 |
48.005 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
2.31 |
1.85 |
2.57 |
|
|
|
Diluted |
2.06 |
1.72 |
2.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.46
|
1.30 |
1.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.36
|
2.48 |
2.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.42
|
3.60 |
3.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.05 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.89
|
0.63 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.72
|
4.22 |
4.69 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND
Subject
was incorporated on 16 November 2004 and is in the business of providing
logistic services. The Company has been providing the entire basket of
logistics services including aftermarket warehouse, in-plant warehouse, global
supply chain management services, domestic supply chain management services and
material handling services. The registered office of the Company is situated at
TVS Building, 7-B,
Bankers Charges
Report as per Registry
|
Name of the company |
TVS LOGISTICS
SERVICES LIMITED |
|
Presented By |
Mr. R. Dinesh,
Director |
|
1) Date and description of instrument creating the change |
Agreement for
hypothecation of goods and assets dated 26.03.2005 Agreement for
loan for overall limit dated 26.03.2005 Letter dated
26.03.2005 regarding grant of individual limits. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.100.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Other
Current Assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Cash credit
facilities secured by hypothecation of receivables and other current assets
as per the hypothecation agreement dated 26.03.2005 Rate of Interest-
1% below SBAR Present effective
rate being 9.25% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80015153 |
|
Corporate
identity number of the company |
U63011TN2004PLC054655 |
|
Name of the
company |
TVS LOGISTICS SERVICES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
TVS Building, 7-B, West Veli Street, Madurai-625 001, |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
supplemental agreement
of loan for increase in the overall limit dated 06/02/09 |
|
Date of
instrument Creating the charge |
06.02.2009 |
|
Amount secured by
the charge |
Rs.803.900
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash credit
-12.25% p.a. Term Loan I -
12.25% p.a. Corporate Loan II
- 12.25% p.a. Term Loan II -
12.50% Terms of
Repayment Term
Loan/Corporate Loan repayable in 9 installments and Term Loan - II repayable
in Fifty Seven installments. Margin Cash credit - 25% BG (WC) - 10% Term Loan - II /
LC (CG) - 27.71% Letter of Credit
(CG) - 10% Extent and
Operation of the charge CC-Hypothecation
of receivables &other Current assets and second charge on the Fixed
assets acquired out of Term loan; Term Loan-First charge on the Fixed assets
created out of Term loan and second charge on the receivables; Corporate
Loan-Extension of first charge on Fixed assets acquired out of Term Loan;
LC-Document of title to goods covered by the LC & charge on Fixed assets;
BG (WC)-Counter Guarantee from the Company and charge over Current assets. |
|
Short particulars
of the property charged |
Current assets (receivables)
and Fixed assets to be acquired. |
|
Date of latest
modification prior to the present modification |
15.02.2008 |
|
Particulars of
the present modification |
The overall limit
increased to Rs.803.900 millions. CC-Rs.250.000 millions (sub limit Rs 3.000
millions) Term Loan I-Rs.16.800 millions Corporate Loan I-Rs. 7.100
millions Corporate Loan-Rs 80.000
millions Term Loan II-Rs 300 millions (LC one time Rs 110 millions) LC-Rs 100 millions BG(WC) - Rs 50 millions. |
FIXED ASSETS:
·
Plant and machinery
·
Computers
·
Office equipment
·
Furniture and fixtures including racks
·
Vehicles
·
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.50.72 |
|
|
1 |
Rs.79.88 |
|
Euro |
1 |
Rs.68.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.