%20PRIVATE%20LIMITED%20-%20156727%2012-Oct-2011_files/image002.jpg){kind=small}
1. Summary Information
|
|
|
Country |
|
|
Company Name |
HAIER APPLIANCES
( |
Principal Name 1 |
Mr. Zhou Yunjie |
|
Status |
Moderate |
Principal Name 2 |
Mr. Tan Lixia |
|
|
|
Registration # |
55 – 119101 |
|
Street Address |
B-1/A-14, Mohan
Co-operative Industrial Estate, Mathura Road, New Delhi – 110 044 |
||
|
Established Date |
24.02.2003 |
SIC Code |
-- |
|
Telephone# |
91-11-39496000 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-26971562 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Electronic Items |
|
|
# of employees |
1000 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.45,260,000 |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holding - 100.00% |
Banking |
Standard
Chartered Bank |
|
Public Limited Corp. |
No |
Business Period |
8 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
C.E.O |
|
Associates |
|
Haier Telecom ( |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
775,938,000 |
Current Liabilities |
1,069,052,000 |
|
Inventories |
412,266,000 |
Long-term Liabilities |
30,000,000 |
|
Fixed Assets |
435,073,000 |
Other Liabilities |
607,787,000 |
|
Deferred Assets |
0,00 |
Total Liabilities |
1,706,839,000 |
|
Invest& other Assets |
345,000 |
Retained Earnings |
(1,118,358,000) |
|
|
|
Net Worth |
(83,217,000) |
|
Total Assets |
1,623,622,000 |
Total Liab. & Equity |
1,623,622,000 |
|
Total Assets (Previous Year) |
1,643,533,000 |
|
|
|
P/L Statement as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
2,805,871,000 |
Net Profit / (Loss) |
(228,524,000) |
|
Sales(Previous yr) |
2,594,112,000 |
Net Profit
/ (Loss) (Prev.yr) |
(46,534,000) |
MIRA
INFORM REPORT
|
Report Date : |
12.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
HAIER APPLIANCES ( |
|
|
|
|
Registered
Office : |
B-1/A-14, Mohan Co-operative Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2009 |
|
|
|
|
Date of
Incorporation : |
24.02.2003 |
|
|
|
|
Com. Reg. No.: |
55 – 119101 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 45.260 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140DL2003PTC119101 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH03845C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Electronic Items |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Haier Group. It is an established company having moderate track records. There
appears huge accumulated losses recorded by the company. Profitability of the
company is under severe pressure. 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
cautions. |
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 / Head Office : |
B-1/A-14, Mohan Co-operative Industrial Estate, |
|
Tel. No.: |
91-11-39496000 / 30674000 |
|
Mobile No.: |
91-9971233043 (Mr. Anil) |
|
Fax No.: |
91-11-26971562 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 Sq. ft |
|
Location : |
Rented |
|
|
|
|
Factory : |
Rajangaon MIDC, Pune |
|
Location : |
Owned |
DIRECTORS
AS ON 05.05.2010
|
Name : |
Tan Lixia |
|
Designation : |
Director |
|
Address : |
No.71, Tuandao 1 Road, Shinan District, |
|
Date of Birth/Age : |
20.09.1970 |
|
Date of Appointment : |
15.07.2003 |
|
DIN No.: |
00279245 |
|
|
|
|
Name : |
Zhou Yunjie |
|
Designation : |
Director |
|
Address : |
No.50, Yanan 1 Road, Shbei District, |
|
Date of Birth/Age : |
24.11.1966 |
|
Date of Appointment : |
09.07.2004 |
|
DIN No.: |
00279578 |
|
|
|
|
Name : |
Liang Haishan |
|
Designation : |
Director |
|
Address : |
Room No.502, Unit No.3, No.47, Taiquing Road, Qunigoao, Shibei,
Shandog |
|
Date of Birth/Age : |
10.01.1966 |
|
Date of Appointment : |
24.08.2009 |
|
DIN No.: |
03020938 |
|
|
|
|
Name : |
Eric Anthony Braganza |
|
Designation : |
Whole Time Director |
|
Address : |
502, Silver Ark, 62 convent Ave, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
14.02.1956 |
|
Date of Appointment : |
30.01.2010 |
|
DIN No.: |
03024973 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U45200MH2005PTC154129 |
N E B
Infrastructure Private Limited |
Director |
21-06-05 |
21-06-05 |
15-07-10 |
Dormant |
NO |
|
2 |
U74140DL2003PTC119101 |
Haier
Appliances (India) Private Limited |
Director |
05-05-10 |
30-01-10 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Somesh Agrawal |
|
Designation : |
Secretary |
|
Address : |
A-87, PKT-III, Sector-82, Gautam Buddh Nagar, Noida-201010, Uttar
Pradesh, India |
|
Date of Birth/Age : |
24.04.1978 |
|
Date of Appointment : |
07.07.2009 |
|
PAN No.: |
AGBPA4836H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.05.2010
|
Names of Shareholders |
No. of Shares |
|
Haier Electrical Appliances Corporation Limited, China |
4525000 |
|
Haier Europe Holdings BV, Netherland |
1000 |
|
Total |
4526000 |
AS ON 05.05.2010
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Electronic Items |
||||||||||||||
|
|
|
||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Note: 1.
Due within one year Rs. 30.000 millions (Previous
year Rs. 298.079 millions) 2.
Working Capital loan and Buyers Credit are
secured by way of hypothecation of stock, book debts, other movables and
comfort letter from the parent company. 3.
Vehicle loan is secured by way of hypothecation
of vehicles |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountant |
|
Address : |
Golf View, Corporate Tower B, Sector-42, Sector Road, Gurgaon-122002,
Haryana, India |
|
Tel. No.: |
91-124-4644000 |
|
Fax No.: |
91-124-4644050 |
|
|
|
|
Holding Company : |
·
Haier Electrical Appliances Corporation Limited,
China |
|
|
|
|
Holding Company of Haier Electrical
Appliances Corporation Limited, China : |
·
Qingdao Haier Investment and Development Company
Limited, China |
|
|
|
|
Ultimate Holding Company : |
·
Haier Group Corporation, China |
|
|
|
|
Fellow Subsidiaries : |
·
Haier Europe Holdings ·
Haier Australia Pty Limited ·
Haier International Company Limited ·
Pegasus Telecom (Hong Kong) Company Limited ·
Haier Electrical Appliances (Malaysia) Company
Limited ·
Haier America Refrigerators Company ·
Haier Electrical Appliances (Thailand) Company
Limited ·
Haier Middle East ·
Haier Electronics Sales (Korean) Company Limited ·
Qingdao Haier Joint Stock Company Limited ·
Haier Japan Sales Company Limited ·
Qingdao Haier Refrigerator Company Limited ·
Haier A/C Trading Italy S.P.A ·
HAH (HK) Company Limited ·
Haier Water Heater Company Limited ·
Zhangqiu Haier Electromotor Company Limited |
CAPITAL STRUCTURE
AS ON 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105000000 |
Equity Shares |
Rs.10/- each |
Rs. 1050.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4526000 |
Equity Shares |
Rs.10/- each |
Rs. 45.260
Millions |
|
|
|
|
|
Note: Out of the above 4525000 equity shares of Rs. 10/-
each are held by Haier Electrical Appliances Corporation Limited, China the
holding Company and balance are held by Haier Europe Holding B. V
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
45.260 |
45.260 |
45.260 |
|
|
2] Share Application Money |
989.881 |
752.282 |
752.281 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1118.358) |
(889.833) |
(843.299) |
|
|
NETWORTH |
(83.217) |
(92.291) |
(45.758) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.000 |
298.079 |
419.305 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
30.000 |
298.079 |
419.305 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(53.217) |
205.788 |
373.547 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
435.073 |
523.515 |
537.658 |
|
|
Capital work-in-progress |
0.345 |
2.916 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
412.266
|
365.282 |
584.167
|
|
|
Sundry Debtors |
389.534
|
280.642 |
267.377
|
|
|
Cash & Bank Balances |
52.002
|
87.264 |
52.681
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
334.402
|
383.914 |
212.366
|
|
Total
Current Assets |
1188.204
|
1117.102 |
1116.591 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
994.604
|
671.071 |
|
|
|
Other Current Liabilities |
607.787
|
727.519 |
1242.623
|
|
|
Provisions |
74.448
|
39.155 |
38.079
|
|
Total
Current Liabilities |
1676.839
|
1437.745 |
1280.702 |
|
|
Net Current Assets |
(488.635)
|
(320.643) |
(164.111)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(53.217) |
205.788 |
373.547 |
|
%20PRIVATE%20LIMITED%20-%20156727%2012-Oct-2011_files/image003.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2805.871 |
2594.112 |
1617.279 |
|
|
|
Other Income |
265.542 |
627.172 |
105.685 |
|
|
|
TOTAL (A) |
3071.413 |
3221.284 |
1722.964 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Trading Goods |
1096.111 |
1086.077 |
0.000 |
|
|
|
Raw Material Consumed |
1229.965 |
897.222 |
0.000 |
|
|
|
Personal Expenses |
280.622 |
247.126 |
0.000 |
|
|
|
Cost of Goods Sold |
0.000 |
0.000 |
1210.666 |
|
|
|
Establishment Expenses |
0.000 |
0.000 |
120.864 |
|
|
|
Selling and Distribution Expenses |
0.000 |
0.000 |
321.638 |
|
|
|
Sales Promotion Expenses |
0.000 |
0.000 |
209.204 |
|
|
|
Administrative Expenses |
0.000 |
0.000 |
110.988 |
|
|
|
Prior Period Expenses |
0.000 |
0.000 |
1.196 |
|
|
|
Operating and Other Expenses |
514.640 |
651.476 |
0.000 |
|
|
|
Extra Ordinary Item: Grant from promoters |
0.000 |
0.000 |
(100.572) |
|
|
|
(Increased) / Decreased in Inventories |
(22.289) |
213.658 |
0.000 |
|
|
|
TOTAL (B) |
3099.049 |
3095.559 |
1873.984 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(27.636) |
125.725 |
(151.020) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
100.347 |
77.461 |
29.478 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(127.983) |
48.264 |
(180.498) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
99.502 |
90.398 |
59.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F)
(G) |
(227.485) |
(42.134) |
(240.073) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.039 |
4.400 |
2.713 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(228.524) |
(46.534) |
(242.786) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(889.832) |
(843.298) |
(600.512) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(118.356) |
(889.832) |
(843.298) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
564.902 |
259.460 |
29.234 |
|
|
|
Revenue Grant from Group company |
274.324 |
268.286 |
0.000 |
|
|
|
Capital Grant from Group company |
0.000 |
62.485 |
0.000 |
|
|
TOTAL EARNINGS |
839.226 |
590.231 |
29.234 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
77.298 |
59.252 |
25.389 |
|
|
|
Trading Goods |
393.350 |
315.880 |
207.599 |
|
|
|
Capital Goods |
3.801 |
38.986 |
150.606 |
|
|
TOTAL IMPORTS |
474.449 |
414.118 |
383.594 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(50.49) |
(10.28) |
(41.84) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
(7.44)
|
(1.44) |
(14.09) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.11)
|
(1.62) |
(14.84) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(14.01)
|
(2.57) |
(14.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.73
|
0.46 |
5.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(20.51)
|
(18.81) |
(27.99) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.71
|
0.78 |
0.87 |
LOCAL AGENCY FURTHER INFORMATION
NEW MANAGEMENT
SYSTEMS, PROCEDURES AND OPERATIONS
During the period,
the company has undergone strengthening and improvement of systems and
procedures relating to various functions linked with operations of the company.
OPERATIONS REVIEW
The Top line of
the Company for the year was Rs 2896.340 millions for the year as against Rs
2694.490 millions for the top line of immediately preceding audited period. The
net loss (before tax) for the year was Rs 227.485 millions as against Rs 42.134
millions for the previous audited period.
Considering the
envisaged implementation and improvements in systems and procedures, management
is hopeful that this will lead to improved efficiency in business thereby
leading to increased growth of the company.
Further, the
Company plans to reinforce its product offerings across categories and
consolidate its market position.
NATURE OF OPERATIONS
Subject is a
wholly owned subsidiary of Haier Electrical Appliances Corporation Limited,
China. The Company was incorporated on February 24, 2003. Till the financial
year 2007, the Company was
involved in trading of various products of home appliances across 6 categories
- refrigerators, color television, washing machine, air conditioners, microwave
ovens and dishwasher. However in August 2007, it purchased appliances business
in Pune from Anchor Daewoo Industries limited (ADIL) and started manufacturing
of refrigerators. Now the Company has also started trading of water heater.
CONTINGENT LIABILITIES:
|
Particulars |
31.12.2009 (Rs.
In Millions) |
|
Claims against the company not acknowledge
as debts |
0.000 |
|
Income tax matters |
233.738 |
FORM 8
|
Corporate
identity number of the company |
U74140DL2003PTC119101 |
|
Name of the
company |
HAIER APPLIANCES
( |
|
Address of the
registered office or of the principal place of business in |
B-1/A-14, Mohan Co-operative Industrial Estate, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Standard
Chartered Bank, Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New
Delhi – 110 001, India |
|
Nature of
instrument creating charge |
Supplemental
Hypothecation Agreement of Stocks / Book Debts Supplemental
Hypothecation Agreement of machinery |
|
Date of instrument
Creating the charge |
09.05.2011 |
|
Amount secured by
the charge |
Rs. 933.400
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per facility
advise letter dated 18.04.2011 to be amended from time to time Terms of repayment As per facility
advise letter dated 18.04.2011 to be amended from time to time Margin As per facility
advise letter dated 18.04.2011 to be amended from time to time Extent and operation of the charge First Pari Passu
Charge Over Current Assets First Charge Over
Fixed Assets |
|
Short particulars
of the property charged (Including location of the property) |
All present and
future stocks consisting of raw materials, work in progress, finished goods
stores etc, and all present and future book debts |
|
Charge
identification number of the charge to be modified |
10022264 |
|
Date of
instrument modifying the charge |
04.03.2009 |
|
Particulars of
the present modification |
Bank’s first pari
passu charge over all present and future current assets and first
hypothecation charge over plant and machinery, machinery spares, tools and
accessories etc. stored or to be stored at the company’s godowns or premises
or wherever else the same may be already registered for Rs. 488.400 millions
shall stand enhanced to Rs. 933.400 millions. |
FIXED ASSETS:
- Machinery
- Tools and Dies
- Computers
- Furniture and Fixtures
- Vehicles
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] 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. 49.03 |
|
|
1 |
Rs. 76.59 |
|
Euro |
1 |
Rs. 66.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.