Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
MADRAS HYDRAULIC HOSE PRIVATE LIMITED |
Principal Name 1 |
Mr. Tatineni Rama Rao |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Ajay Tatineni |
|
|
|
Registration # |
18-010223 |
|
Street Address |
Plot No.5, Harington Apartments, 98 Harington Road, Chetpet,
Chennai-600031, Tamilnadu, India |
||
|
Established Date |
03.08.1983 |
SIC Code |
-- |
|
Telephone# |
91-44-2836544 |
Business Style 1 |
Manufacture |
|
Fax # |
91-44-28365320 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Hoses |
|
|
# of employees |
-- |
Product Name 2 |
Loose Braid |
|
Paid up capital |
Rs.
8,587,500/- |
Product Name 3 |
--- |
|
Shareholders |
Directors or relatives
of Directors – 96.00% Other top fifty shareholders –
4.00% |
Banking |
State Bank of
Travancore |
|
Public Limited Corp. |
No |
Business Period |
|
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
81,262,000 |
Current Liabilities |
49,886,000 |
|
Inventories |
37,276,000 |
Long-term Liabilities |
84,869,000 |
|
Fixed Assets |
131,981,000 |
Other Liabilities |
30,649,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
165,404,000 |
|
Invest& other Assets |
10,019,000 |
Retained Earnings |
86,546,000 |
|
|
|
Net Worth |
95,134,000 |
|
Total Assets |
260,538,000 |
Total Liab. & Equity |
260,538,000 |
|
Total Assets (Previous Year) |
246,901,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
197,029,000 |
Net Profit |
8,458,000 |
|
Sales(Previous yr) |
249,999,000 |
Net Profit(Prev.yr) |
13,892,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
MADRAS HYDRAULIC HOSE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.5, Harington Apartments, 98 Harington Road, Chetpet,
Chennai-600031, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
03.08.1983 |
|
|
|
|
Com. Reg. No.: |
18-010223 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.588 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199TN1983PTC010223 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHEM01008A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Stainless Steel Hose and Braid, Stainless
Steel Bellows, Expansion Joints, Gas Hose, End Fittings, Hose Assemblies,
Pump Connectors and Interlock Hoses |
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 380000 |
|
|
|
|
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 – 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 : |
Plot No.5, Harington Apartments, 98 Harington Road, Chetpet,
Chennai-600031, Tamilnadu, India |
|
Tel. No.: |
91-44-28361544 / 28362910 / 28365489
/ 28362391 |
|
Fax No.: |
91-44-28365320 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Tatineni Rama Rao |
|
Designation : |
Chairman |
|
Address : |
14, Balaji Avenue, 1st Steet, T. Nagar, Chennai-600017,
Tamilnadu, India |
|
Date of Birth/Age : |
12.11.1938 |
|
Date of Appointment : |
01.07.1988 |
|
DIN No.: |
00187960 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U25199TN1983PTC010223 |
Madras
Hydraulic Hose Private Limited |
Director |
01-07-88 |
01-07-88 |
Active |
NO |
|
2 |
U27109TN2005PTC056257 |
Flexifit
Engineering Industry Private Limited |
Director |
12-05-05 |
12-05-05 |
Active |
NO |
|
Name : |
Mr. Gedupooru Chamundeswari |
|
Designation : |
Managing Director |
|
Address : |
Old No. 11, New No.12, Subbiah Naidu Street, Vepery, Chennai-600007,
Tamilnadu, India |
|
Date of Birth/Age : |
17.08.1965 |
|
Date of Appointment : |
01.07.1988 |
|
DIN No.: |
00187909 |
|
|
|
|
Name : |
Mr. Shanmugavelu Ramakrishnan |
|
Designation : |
Whole Time Director |
|
Address : |
Shantham, 179, Nethaji Street, Ganesh Nagar, Selaiyur, Chennai-600073,
Tamilnadu, India |
|
Date of Birth/Age : |
30.03.1943 |
|
Date of Appointment : |
08.06.1998 |
|
DIN No.: |
00188008 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74930TN1989PTC018353 |
Tafecon
Private Limited |
Managing
director |
17-11-89 |
17-11-89 |
Active |
NO |
|
2 |
U25199TN1983PTC010223 |
Madras
Hydraulic Hose Private Limited |
Whole-time
director |
08-06-98 |
08-06-98 |
Active |
NO |
|
Name : |
Mr. Ajay Tatineni |
|
Designation : |
Director |
|
Address : |
18, Balaji Avenue, 1st Steet, T. Nagar, Chennai-600017,
Tamilnadu, India |
|
Date of Birth/Age : |
12.07.1973 |
|
Date of Appointment : |
21.03.1997 |
|
DIN No.: |
00187929 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U25199TN1983PTC010223 |
Madras
Hydraulic Hose Private Limited |
Director |
21-03-97 |
21-03-97 |
Active |
NO |
|
2 |
U27109TN2005PTC056257 |
Flexifit
Engineering Industry Private Limited |
Director |
12-05-05 |
12-05-05 |
Active |
NO |
|
Name : |
Ms. Jayasree Tatineni |
|
Designation : |
Director |
|
Address : |
Old No.14, New No.18, Balaji Avenue, 1st Steet, T. Nagar,
Chennai-600017, Tamilnadu, India |
|
Date of Birth/Age : |
26.05.1949 |
|
Date of Appointment : |
01.07.1988 |
|
DIN No.: |
00187986 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
T. Rama Rao |
46100 |
|
T. Jayasree |
10540 |
|
T. Ajay |
6010 |
|
T. Nagasuseela |
5650 |
|
G. Chamundeswari |
2500 |
|
Dr. Musunuru Jagdeshwar Rao |
13000 |
|
G. Suresh |
25 |
|
Vishnu Choudhary |
25 |
|
Dronavalli Jalaja |
2000 |
|
S. Ramakrishnan |
25 |
|
Total |
85875 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
96.00 |
|
Other top fifty shareholders |
4.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Stainless Steel Hose and Braid, Stainless
Steel Bellows, Expansion Joints, Gas Hose, End Fittings, Hose Assemblies, Pump
Connectors and Interlock Hoses |
|
|
|
|
Products : |
·
Hoses ·
Loose Braid |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Stainless Steel Hose Pipes |
In Mtrs |
500000 |
-- |
-- |
|
Hose |
In Mtrs |
-- |
500000 |
524595 |
|
Braid |
In Mtrs |
-- |
225000 |
360480 |
|
Bellows Expansion Joints |
Nos. |
-- |
10000 |
-- |
GENERAL INFORMATION
|
Bankers : |
·
State Bank of Travancore, Chennai Main Branch, United
India Building, Esplanade, Chennai-600108, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N Srikrishna of Brahmayya and Company Chartered Accountant |
|
Address : |
48, Masilamani Road, Balaji Nagar, Royapettah, Chennai-600014,
Tamilnadu, India |
|
PAN No.: |
AAAFB2481J |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85875 |
Equity Shares |
Rs.100/-
each |
Rs. 8.588
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 |
8.588 |
8.588 |
8.588 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
86.546 |
78.089 |
64.197 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
95.134 |
86.677 |
72.785 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
84.869 |
90.921 |
98.598 |
|
|
2] Unsecured Loans |
0.000 |
1.344 |
5.000 |
|
|
TOTAL BORROWING |
84.869 |
92.265 |
103.598 |
|
|
DEFERRED TAX LIABILITIES |
29.393 |
27.140 |
22.012 |
|
|
|
|
|
|
|
|
TOTAL |
209.396 |
206.082 |
198.395 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
131.981 |
114.310 |
115.427 |
|
|
Capital work-in-progress |
10.019 |
15.154 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
37.276
|
36.544 |
52.803 |
|
|
Sundry Debtors |
49.572
|
55.142 |
52.859 |
|
|
Cash & Bank Balances |
9.076
|
7.418 |
4.847 |
|
|
Other Current Assets |
0.111
|
0.036 |
0.001 |
|
|
Loans & Advances |
22.503
|
18.297 |
25.607 |
|
Total
Current Assets |
118.538
|
117.437 |
136.117 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
38.191
|
30.168 |
42.313 |
|
|
Other Current Liabilities |
1.256
|
1.303 |
2.964 |
|
|
Provisions |
11.695
|
9.348 |
7.872 |
|
Total
Current Liabilities |
51.142
|
40.819 |
53.149 |
|
|
Net Current Assets |
67.396
|
76.618 |
82.968 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
209.396 |
206.082 |
198.395 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
197.029 |
249.999 |
187.124 |
|
|
|
Other Income |
1.005 |
0.675 |
4.727 |
|
|
|
TOTAL (A) |
198.034 |
250.674 |
191.851 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
166.874 |
208.745 |
161.436 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
166.874 |
208.745 |
161.436 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
31.160 |
41.929 |
30.415 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.065 |
12.441 |
6.290 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.095 |
29.488 |
24.125 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.037 |
8.019 |
5.852 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.058 |
21.469 |
18.273 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.600 |
7.577 |
7.604 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.458 |
13.892 |
10.669 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
75.752 |
61.860 |
51.191 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
84.210 |
75.752 |
61.860 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
118.716 |
173.976 |
119.404 |
|
|
TOTAL EARNINGS |
118.716 |
173.976 |
119.404 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
11.876 |
2.933 |
0.000 |
|
|
|
Capital Goods |
8.788 |
12.911 |
0.000 |
|
|
TOTAL IMPORTS |
20.664 |
15.844 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
98.49 |
161.77 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.27
|
5.54 |
5.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.63
|
8.59 |
9.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.21
|
9.26 |
7.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.74
|
1.85 |
2.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32
|
2.88 |
2.56 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE:
The Sales
(excluding Other Income) for the year ended 31st March 2010 was Rs.
197.029 millions compared to Rs. 249.999 millions last year. The Global
Economy, including the Indian Economy, faced a turbulent time in the year. The
Economic Scenario affected the Company's performance. Manufacturing Industries,
more specifically, the Engineering Industry, underwent one of the worst
economic situation. The present Economic Indicators are looking positive.
However, the inflation index is also witnessing a steep claim. The prices of
Iron and Steel. one of the basic raw materials for the Company, had increased
drastically.
The 100% EOU
branch has commenced its operations on 26.06.2009. The performance is
satisfactory.
The Profit before
Taxation decreased from Rs. 21.469 millions to Rs.13.058 millions during the
year. The profit after tax decreased from Rs. 13.892 millions to Rs. 8.458
millions.
FUTURE PROSPECT:
The Board has
taken steps to increase its market penetration. This effort coupled with cost
cut exercise already initiated by the Board, would yield desired results. The
Board has taken steps to increase productivity.
CONTINGENT
LIABILITY: AS ON 31.03.2010
Bank Guarantee - Rs. 2.924 Millions
Letter of Credit – Rs. 38.789 Millions
FORM 8
|
Corporate
identity number of the company |
U25199TN1983PTC010223 |
|
Name of the
company |
MADRAS HYDRAULIC
HOSE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No 5
Harington Apartment, 98 Harington
Road, Chetput, Chennai -600031, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Others |
|
Particular of
charge holder |
State Bank of
Travancore, Chennai Main Branch, United India Building, Esplanade, Chennai-
600108, Tamilnadu, India |
|
Nature of
instrument creating charge |
1. Term Loan
Agreement for High Value Advances 2. Deed of
Hypothecation for Term Loan 3. Extension of
Mortgage by Deposit of Title Deeds 4. Declaration |
|
Date of
instrument Creating the charge |
19.06.2009 |
|
Amount secured by
the charge |
Rs. 253.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of Interest for
Term Loan VI (New) - Rs. 21.200 millions :- 0.50% below SBTPLR, Present
Effective Rate being 12.25% p.a. at monthly rests, with option to reset every
two years. Terms of repayment Repayment for
Term Loan VI (New) - Rs. 21.200 millions:- Repayable in 28 quarterly
installments. The first 27 quarterly installments shall be of Rs. 0.758
million each; and the 28th quarterly installment shall be of Rs. 0.734
million. Repayment to commence twelve moths after first disbursement of the
loan. Moratorium Period
: 12 months Margin Margin for Term
Loan VI (New) - Rs.21.200 millions:- 30% Margin for
"One Time" Foreign Letter of Credit (sub-limit within the Term Loan
VI (New) Limit of Rs. 21.200 millions) : Rs. 5.800 millions:- 30% Extent and operation of the charge The charge on the
hypothecated / mortgaged assets of the Company to operate as Security till
the complete closure of the present enhanced Overall Limit of Rs. 253.500
millions, together with interest, costs, charges and other expenses, as
recorded in the Books of Accounts of the Bank from time to time. Other The Overall Limit
of Rs.253.500 millions consists of : (1) EPC / PCFC :
Rs.45.000 millions [Sub limit-(CC-Hypothecation) within EPC/PCFC fully
interchangeable : Rs.2.500 millions]; (2) BP/FDBP/FBEP/EBRD
: Rs.45.000 millions; (3) Stand by
Limit : Rs.18.000 millions; (4) TL-II : Rs.
22.600 millions; (5) TL-III :
Rs.6.300 millions; (6) TL-IV :
Rs.32.500 millions; (7) TL-V : Rs.12.900 millions; and (8) TL-VI (NEW) :
Rs.21.200 millions [One Time Foreign LC Approximately.: Rs. 5.800 millions
within TL-VI] and (9) LC : Rs.
50.000 millions (Sub Limit-BG-Rs. 50.000 millions within LC) |
|
Short particulars
of the property charged (Including location of the property) |
For :- EPC /
PCFC; BP/FDBP/FBEP/EBRD; Stand by
Limit; LC / BG : Primary Security :
First Charge over the Company's Stocks of Raw Materials, Stock in process,
finished goods, receivables and other current assets; Collateral
Security : Second Charge over the Fixed Assets; For TL-II:
TL-III; TL-IV; TL-V and TL -VI: First Charge on the Fixed Assets acquired /
to be acquired Common Collateral
Security : Company's immovable properties |
|
Charge
identification number of the charge to be modified |
90299940 |
|
Date of instrument
modifying the charge |
17.10.2008 |
|
Particulars of
the present modification |
Pursuant to the
Documents / Declaration narrated in Field No.8 above, the credit limits
sanctioned by State Bank of Travancore, Chennai Main Branch, Esplanade, Chennai-108
to the Company has now been enhanced
from Rs. 240.000 millions to Rs.253.500 millions and is secured by the
Company's Current Assets, Fixed Assets and Immovable properties |
FIXED ASSETS
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Wind Generation Machine-I
·
Office Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computers
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. 49.03 |
|
|
1 |
Rs. 76.59 |
|
Euro |
1 |
Rs. 66.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
4 |
|
--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 |
NO |
|
--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.