MIRA
INFORM REPORT
|
Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
VOLKSWAGEN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-1, MIDC Industrial Area, Phase III, Village Nigoje Mhalunge, Kharabwadi
Chakan, Taluka Khed, Pune-410501, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2009 |
|
|
|
|
Date of
Incorporation : |
06.02.2007 |
|
|
|
|
Com. Reg. No.: |
11-133117 |
|
|
|
|
Paid-up Capital
: |
Rs.14386.815
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102PN2007FTC133117 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14433G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Four Wheelers. |
|
|
|
|
No. of Employees
: |
4000 Approximately |
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 38200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Volkswagen Group. It is an established company
having satisfactory track. Trade relations are reported as fair. Business is
active. Payments are reported to be regular 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Devendra Malegaonkar |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9923201284 |
|
Date : |
18.10.2011 |
LOCATIONS
|
Registered Office / Factory: |
E-1, MIDC Industrial Area, Phase III, Village Nigoje Mhalunge,
Kharabwadi Chakan, Taluka Khed, Pune-410501, Maharashtra, India |
|
Tel. No.: |
91-2135-661070 / 661000 / 063 / 661058 / 661060 / 661179 |
|
Mobile No.: |
91-9823285698 (Mr. Pankaj) 91-9923201284 (Mr. Devendra Malegaonkar) |
|
Fax No.: |
91-2135-661047 / 661044 |
|
E-Mail : |
|
|
Website : |
http://www.volkswagen.co.in |
|
Area : |
700 acers |
|
Location : |
Owned |
DIRECTORS
AS ON 17.05.2010
|
Name : |
Mr. Wallapura John Chacko |
|
Designation : |
Whole Time Director |
|
Address : |
Alte Dorfstrabe 25, Waltingpfunz, 85137, |
|
Date of Birth/Age : |
26.03.1952 |
|
Date of Appointment : |
06.02.2007 |
|
Passport No.: |
8000785527 |
|
DIN No.: |
01251227 |
|
|
|
|
Name : |
Mr. Tobias Ernst Wolfgang Bush |
|
Designation : |
Director |
|
Address : |
AM Plan 2A, Konigslutter-38154 |
|
Date of Birth/Age : |
06.03.1958 |
|
Passport No.: |
143412951 |
|
DIN No.: |
01071455 |
KEY EXECUTIVES
|
Name : |
Mr. Devendra Suresh Malegaonkar |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 6, Muktai Housing Society, Suncity Road, Saikwadi,
Wadgaonsheri, Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
08.02.1980 |
|
Date of Appointment : |
13.12.2007 |
|
PAN No.: |
ANBPM1727G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.05.2010
|
Names of Equity Shareholders |
|
No. of Shares |
|
Volkswagen International Finance NV, Netherland |
|
129619931 |
|
Volkswagen AG, Deutschland |
|
1 |
|
Volkswagen AG, Deutschland |
|
337337000 |
|
|
|
|
|
Total |
|
466956932 |
AS ON 17.05.2010
|
Names of Preference Shareholders |
|
No. of Shares |
|
Volkswagen AG, Deutschland |
|
971724552 |
|
Total |
|
971724552 |
(AS ON 17.05.2010)
|
Equity Shares
Break Up |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Four Wheelers |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.12.2009
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Motor Car |
Nos. |
110000 |
4113 |
NOTE
i) Installed capacity, as certified by the
management and accepted by the auditors without verification, being a technical
matter
ii) All capacities are set up after 25.07.1991
an no licenses are required in terms of notification No.477 (E) under the
industries (development and regulation) Act, 1951. A declaration to this effect
has been mentioned in the industrial entrepreneur’s memorandum files in this
regard.
GENERAL INFORMATION
|
No. of Employees : |
4000 Approximately |
|
|
|
|
Bankers : |
·
HSBC Bank, Near · Deutsche Bank, Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Water House Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, |
|
|
|
|
Volkswagen AG, Porsche Automobile Holding SE (part of the year) |
|
|
|
|
|
Fellow Subsidiaries: |
·
Skoda Auto India Private Limited ·
Volkswagen Group Sales India Private Limited ·
Volkswsagen of South Africa Private Limited ·
Audi AG ·
Autoeuropa Automoveis Lda ·
Audi Brussels S.A ·
IAV India Private Limited ·
Skoda Auto A.S ·
Volkswagen do Brasil Industria ·
Vokswagen ·
Vokswagen ·
Volkswgen Coaching ·
Volkswagen Notorsport GmbH ·
Vokswagen Marketing ·
Volkswsgen International Finance N.V |
CAPITAL STRUCTURE
AS ON 18.05.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
466956932 |
Equity Share |
Rs.10/- each |
Rs.4669.569 Millions |
|
971724552 |
Preference Shares |
Rs.10/- each |
Rs.9717.246 Millions |
|
|
Total |
|
Rs.14386.815
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
466956932 |
Equity Share |
Rs.10/- each |
Rs.4669.569
millions |
|
971724552 |
Preference Shares |
Rs.10/- each |
Rs.9717.246
Millions |
|
|
Total |
|
Rs.14386.815 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 (12th
Months) |
31.12.2008 (9th Months) |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
14386.815 |
14386.815 |
10679.815 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(155.605) |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(4678.973) |
(1020.944) |
(7.610) |
|
|
NETWORTH |
9552.237 |
13365.871 |
10672.205 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
17444.266 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
17444.266 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26996.503 |
13365.871 |
10672.205 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
14317.555 |
1001.804 |
824.375 |
|
|
Capital work-in-progress |
11364.533 |
11285.647 |
2009.324 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1813.336
|
63.547 |
0.000 |
|
|
Sundry Debtors |
812.332
|
0.000 |
9.464 |
|
|
Cash & Bank Balances |
2351.267
|
1409.529 |
8707.144 |
|
|
Other Current Assets |
288.765
|
31.029 |
95.728 |
|
|
Loans & Advances |
3542.183
|
1797.948 |
117.954 |
|
Total
Current Assets |
8807.883
|
3302.053 |
8930.290 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
7477.369
|
2201.840 |
1086.438 |
|
|
Provisions |
16.099
|
21.793 |
5.346 |
|
Total
Current Liabilities |
7493.468
|
2223.633 |
1091.784 |
|
|
Net Current Assets |
1314.415
|
1078.420 |
7838.506 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26996.503 |
13365.871 |
10672.205 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 (12th
Months) |
31.12.2008 (9th Months) |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2443.110 |
0.000 |
0.000 |
|
|
|
Other Income |
1218.490 |
957.710 |
26.009 |
|
|
|
TOTAL |
3661.600 |
957.710 |
26.009 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Cost |
|
1610.890 |
12.830 |
|
|
|
Administrative and Other Expenses |
|
|
20.130 |
|
|
|
TOTAL |
5370.110 |
1610.890 |
32.960 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1708.510) |
(653.180) |
(6.951) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
1941.020 |
41.970 |
0.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX |
(3649.530) |
(695.150) |
(7.240) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.500 |
318.180 |
0.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX |
(3658.030) |
(1013.330) |
(7.610) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1020.940) |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(4678.970) |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export |
271.269 |
0.000 |
NA |
|
|
|
Technical Service Income |
254.021 |
47.843 |
NA |
|
|
TOTAL EARNINGS |
525.290 |
47.843 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
2638.370 |
98.422 |
NA |
|
|
|
Capital Goods |
7691.512 |
5302.291 |
NA |
|
|
TOTAL IMPORTS |
10329.882 |
5400.713 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Loss
Per Share (Rs.) |
(7.83) |
(4.31) |
(0.12) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 (12th
Months) |
31.12.2008 (9th Months) |
31.03.2008 |
|
PAT / Total Income |
(%) |
(99.90) |
(105.81) |
(29.26) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(149.38) |
(0.00) |
(0.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.78) |
(16.15) |
(0.07) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.38) |
(0.05) |
(0.00) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.61 |
0.19 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.48 |
8.18 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
Registered Office of
the company has been shifted from 110-111/10,
MARKET/BUSINESS
OVERVIEW
The German brand
and
Volkswagen
Inauguration of
the Volkswagen Plant was on 31.03.2009 and the first Polo rollout was on
05.12.2009.
FIXED ASSETS
- Computers
- Office
Equipments
- Electrical
Fittings
- Furniture and
Fixtures
- Vehicles
- Plant and machinery
WEB SITE DETAILS
GROUP PROFILE
With its headquarters in Pune, Maharashtra (India),
the Volkswagen Group is represented by three brands in India: Volkswagen, Audi
and Skoda. The Volkswagen Group is completing 10 years of its India journey
which began with the entry of the Skoda brand in 2001, Audi brand and
Volkswagen brand in 2007. Each brand has its own character and operates as an
independent entity in the market.
With its headquarters in Pune, Maharashtra (India),
the Volkswagen Group is represented by three brands in India: Volkswagen, Audi
and Skoda. The Volkswagen Group is completing 10 years of its India journey
which began with the entry of the Skoda brand in 2001, Audi brand and
Volkswagen brand in 2007. Each brand has its own character and operates as an
independent entity in the market.
Volkswagen Group India is a part of Volkswagen AG,
which is globally represented by 9 brands- Audi, Bentley, Bugatti, Lamborghini,
Scania, Seat, Skoda, Volkswagen Commercial Vehicles (Volkswagen Nutzfahrzeuge)
and Volkswagen Passenger Cars. The product range extends from low-consumption
small cars to luxury class vehicles and trucks. The Group operates 60
production plants around the world. In total more than 370,000 employees
produce more than 26,600 vehicles or are involved in vehicle-related services
each working day.
The highest volume brand of the Group is
Volkswagen. Europe’s most successful car brand has made successful inroads into
the Indian market. Volkswagen presents itself in a variety of segments as a
premium manufacturer of high-volume models. As a first step, the Volkswagen
brand launched the globally successful Passat in 2007. To expand its portfolio
and cater to the mid segment, Volkswagen launched one of the brand’s
bestselling models, the Jetta, in India in July 2008. Both the sedans are being
assembled locally. The iconic New Beetle and the high-end SUV Touareg were
introduced in December 2009. Also available is the high-end automobile Phaeton.
From December 12, 2009 the new Pune plant has
started rolling-out the hatchback version of the Volkswagen Polo.The
made-in-India Polo was presented to the general public for the very first time
at the Auto Expo 2010. The launch of this premium hatchback in March, brought
access to one of the Indian passenger car segments with the highest-volume unit
sales.
Skoda entered the Indian market in 2001. Its plant
in Aurangabad, which assembles a total of eight models including the Audi A6
and Audi A4 as well as the Volkswagen Passat and Volkswagen Jetta, has been
instrumental in this achievement. For Indian customers, the name of Skoda
stands for high-quality, robust yet affordable cars in the compact, lower
mid-size and mid-size ranges. In terms of models, the Skoda product offering in
India ranges from the Fabia through the Octavia, the Laura to the Superb. Skoda
lifted the veil off its international bestseller SUV Yeti for the first time in
India at the Auto Expo 2010.
Audi offers high-end models of interest to Indian
customers. With the A8 and the Q7, the A6, the A4 and not forgetting the R8,
the TT and the recently introduced Q5, Audi offers top-quality, technically
brilliant cars with an exclusive flair in the relevant luxury segments. Audi’s
positioning as a leading manufacturer of such high-class vehicles, both
assembled in India and imported through Audi India, will be systematically
pursued in future. At Auto Expo 2010, Audi also unveiled the Audi Sportback
Concept – a five-door model offering a glimpse into Audi's future design
vocabulary.
Recognizing the importance of an extensive dealer
network towards scripting a long-term success story, the brands of the
Volkswagen Group are setting up dealerships spanning the entire country with
Volkswagen, Skoda and Audi having in total around 120 dealerships across the
country today. They are not only laying the foundation for a substantial
increase in sales but also doing the groundwork for offering a first-class
all-round service, taking customer satisfaction to the highest level. Keeping
this in mind they launched their first Group Logistics Service facility
recently that would help make their dealer network become more efficient and
smoothen the entire process of service. In the period between January 2009 and
December 2009, the three brands of the Volkswagen Group have together sold
around 19,000 vehicles in India, an increase of 1.4% over 2008 in a year marked
by recession in the auto industry.
A crucial element of the Volkswagen’s strategy is
to establish a long-term presence in India is the Group’s production facility
near Pune in the Chakan Industrial Park. The investment with a total sum of
around INR 3,800 crore (580 million Euros) is the biggest investment of a
German company realized in India so far. The plant, one of the most modern in
the Volkswagen Group has a high level of vertical integration – not least
attributable to the high share of local suppliers. The recruitment is of some
2,500 employees at the end of 2010, primarily from the region itself. With the
investment, the vertical integration of suppliers and the employment of people
Volkswagen will thus demonstrate its commitment to the new site. Simultaneously
Volkswagen contributes to a positive development of the economy of the region
and of Maharashtra at the same time.
The new plant was inaugurated by The Honourable
Governor of Maharashtra, His Excellency Shri. S. C. Jamir, and Prof. Dr. Jochem
Heizmann, Member of the Board of Management of Volkswagen Aktiengesellschaft with
responsibility for ‘Group Production’ end of March 2009 and has begun building
the Skoda Fabia compact car in May 2009. The launch of Polo, the hatchback car,
is a visible testimony to Volkswagen’s vision of “Mobility - Made in India”. By
mid of 2010 the hatchback version will be followed by a sedan, also based on
the new generation of the Polo but entirely different to the hatch.
In recognition of its efforts in India, Volkswagen
India won the coveted ‘Automotive Company of the Year 2010’ award at the Inaugural
Golden Steering Wheel Awards India presented by the leading automotive
magazine, Auto Bild India.
PRESS RELEASE
VOLKSWAGEN
GROUP
Datamonitor AutomotiveWire
22 July 2011
Volkswagen
Group India has reported that its vehicle sales increased 217.2% to 55,091
units for the first six months of 2011, compared to 17,367 units for the first
six months of 2010.
For
the first half of 2011, Audi brand sales in
For
the first half of 2011, the company has reported that Volkswagen brand sales in
"The
progress in sales figures show the building confidence of our customers in our
products across the three brands Audi, Skoda and Volkswagen." said John
Chacko, Volkswagen Group chief representative
VOLKSWAGEN
GROUP
United News of
22 April 2011
Chandigarh,
April. 22 -- Volkswagen Group India achieved impressive sales growth of 256.7
per cent by delivering 28,072 cars during January to March 2011 as compared to
7,871 cars during the same time period last year. Volkswagen India Private
Limited President and Managing Director John Chacko said that all three brands--Audi,
Skoda and Volkswagen-- performed "extremely well". He said that Audi
delivered a total of 1,611 cars for the quarter ended March 31, 2011 as
compared to 778 cars in the same period previous financial year, a growth of
107.1 per cent. With the launches of the Audi A8 and the Audi R8 Spyder, he
said, Audi had surpassed the half year sales of 2010 in the first quarter of
2011. Skoda delivered 8,217 cars as compared to 5,394 cars while Volkswagen
delivered 18,244 cars as compared to 1,699 cars during the period, he added.
"The launch of Polo and Vento have taken the small car and the mid-size
car segment by a storm. The market share for the Volkswagen cars is on a
growing trajectory and we have seen a phenomenal increase in the sales for
Volkswagen passenger cars." He said to meet the high demand, the company
has recently introduced the third shift which is in line with the ramping up
plans. "We recently launched the new Passat to maintain a strong position
in the high end car segment," Dr Chako said. Volkswagen Group began 2011
on a successful note by winning a total of 32 awards at 9 auto awards
ceremonies held during the last quarter. The Polo won 7 awards, while the Vento
won 7 awards. The Skoda Yeti ruled the charts with 8 awards while Audi won a total
of 4 awards among other awards won by the Group. Published by HT Syndication
with permission from United News of India.
VOLKSWAGEN
Q1 CAR SALES UP 257% IN
Datamonitor AutomotiveWire
20 April 2011
Volkswagen
Group India has reported that total sales increased 256.7% to 28,072 cars for
the first quarter of 2011, compared to 7,871 cars for the first quarter of
2010.
For
the first quarter of 2011, Audi sales increased 107.1% to 1,611 cars, compared
to 778 cars for the first quarter of 2010. For the first quarter of 2011, Skoda
sales were 8,217 cars, an increase of 52.3%, compared to 5,394 cars for the
first quarter of 2010.
For
the first quarter of 2011, sales of Volkswagen Passenger cars increased more
than 500% to 18,244 cars, compared to 1,699 cars for the first quarter of 2010.
John
Chacko, Volkswagen Group Chief Representative India and President and Managing
Director, Volkswagen India Private Limited, said: "The market share for
the Volkswagen cars is on a growing trajectory and we have seen a phenomenal
increase in the sales for Volkswagen passenger cars. In order to meet the high
demand, we have recently introduced the third shift which is in line with our
ramp up plans. We recently launched the new Passat to maintain a strong
position in the highend car segment."
VOLKSWAGEN
United News of
19 April 2011
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.48.89 |
|
|
1 |
Rs.77.31 |
|
Euro |
1 |
Rs.67.78 |
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 |
NO |
|
--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.