MIRA
INFORM REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
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Registered
Office : |
53, Madhuban,
Near |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Com. Reg. No.: |
04-32397 |
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Date of
Incorporation : |
26.05.1997 |
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CIN No.: [Company
Identification No.] |
U29199GJ1997PTC032397 |
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Com. Reg. No.: |
04-32397 |
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Capital
Investment/ Paid-up Capital: |
Rs.10.000 millions |
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TAN No.: (Tax Deduction
& Collection Account No.) |
AHMK00378A |
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Legal Form : |
Private Limited Liability
Company |
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Line of
Business : |
Manufacturer,
Exporter and Importer of Machines used to manufacturer soft drink bottles. |
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No. of
Employees: |
Approximately 140
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit
Limit : |
USD 1400000 |
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|
Status : |
Good |
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Payment Behaviour
: |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having fine track. The company is doing well. Trade
relations are reported as fair. Business is active. Payments are reported to be
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Jignesh Patel
|
|
Designation : |
Deputy General
Manger in Finance |
|
Date : |
02.08.2011 |
LOCATIONS
|
Registered/Administrative
Office : |
53, Madhuban,
Near |
|
Tel. No.: |
91-79-26442729/26440331/26443236/
66100000/2644033 |
|
Fax No.: |
91-79-26421324/
66100010 |
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E-Mail : |
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|
Website : |
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Area : |
2000 Sq. ft. |
|
Location : |
Owned |
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|
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Head Office: |
15, Madhuban
Ellisbridge, Near |
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Tel. No.: |
91-79-25832866 |
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|
Factory : |
Plot No. 14/16,
GIDC, Phase – I, Hirapur, Chawkad, Vatva, Ahmedabad – 382435, |
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Tel. No.: |
91-79-5832023/24/25/25833581 |
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Fax No.: |
91-79-5832026/25832867 |
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Location : |
Owned |
DIRECTORS
As on 06.09.2010
|
Name : |
Mr. Matthias Niemeyer |
|
Designation : |
Nominee Director |
|
Address : |
Pelikanstr 57, |
|
Date of Birth/Age : |
19.05.1967 |
|
Date of Appointment : |
06.09.2010 |
|
DIN No.: |
02855100 |
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|
|
|
Name : |
Mr. Mahendra Narsinhbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
15 Kairavi Bungalow, Near Sarthi Hotel, |
|
Date of Birth/Age : |
17.01.1949 |
|
Date of Appointment : |
26.05.1997 |
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DIN No.: |
00104997 |
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|
Name : |
Mr. Yatindra Ramakant Sharma |
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Designation : |
Whole Time Director |
|
Address : |
23, Yogeshwar Bungalows, Opposite Kalindibungalow, |
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Date of Birth/Age : |
14.03.1955 |
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Date of Appointment : |
01.05.2002 |
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DIN No.: |
00349038 |
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Name : |
Mr. Jlohann Grabenweger |
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Designation : |
Nominee Director |
|
Address : |
Welserstrasse, 28
Ludwigshafenamrhein 67063, |
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Date of Birth/Age : |
02.01.1963 |
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Date of Appointment : |
19.01.2006 |
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DIN No.: |
01251313 |
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|
Name : |
Mr. Gurcharan Singh Bhuller |
|
Designation : |
Director |
|
Address : |
KBM Consulting GMBH, Wetterau Str. 7C, 63505, Langnselbold-63505, |
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Date of Birth/Age : |
02.12.1940 |
|
Date of Appointment : |
26.05.1997 |
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DIN No.: |
01429460 |
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|
Name : |
Mr. Burkhard Becker |
|
Designation : |
Nominee Director |
|
Address : |
Tippelstr 43A, OT Niederbonsfeld, Hattingen-45529, |
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Date of Birth/Age : |
02.02.1960 |
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Date of Appointment : |
27.02.2008 |
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DIN No.: |
02118588 |
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|
Name : |
Mr. Georg Michels |
|
Designation : |
Director |
|
Address : |
Pappelweg 5, Dusseldorf-40489, |
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Date of Birth/Age : |
16.08.1956 |
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Date of Appointment : |
09.07.2008 |
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DIN No.: |
02303843 |
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|
Name : |
Mr. Roland Flach |
|
Designation : |
Nominee Director |
|
Address : |
Hohenstrabe 30, Kronberg-61476, |
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Date of Birth/Age : |
31.10.1944 |
|
Date of Appointment : |
24.03.2009 |
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DIN No.: |
02591593 |
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|
Name : |
Mr. Matthias Nimeyer |
|
Designation : |
Nominee Director |
|
Address : |
Pelikanstr 57, Hannover-30177, |
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Date of Birth/Age : |
19.05.1967 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02855100 |
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|
|
|
Name : |
Mr. Petri Ulrich |
|
Designation : |
Director |
|
Address : |
Crispinstrabe –
5144229, |
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Date of
Birth/Age : |
29.12.1938 |
|
Date of
Appointment : |
26.05.1997 |
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Date of
Ceasing : |
31.08.2001 |
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|
|
|
Name : |
Dr. Frank Rahul |
|
Designation : |
Director |
|
Address : |
Auf Der Bach 13, 64665
Alsbach, Bergstrabe, Germany-64665 |
|
Date of
Birth/Age : |
21.11.1954 |
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Date of
Appointment : |
26.05.1997 |
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Date of
Ceasing ; |
17.09.2004 |
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|
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|
Name : |
Mr. Michl Manfred
|
|
Designation : |
Director |
|
Address : |
Zum Frauenkope –
21, |
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Date of
Birth/Age : |
22.04.1947 |
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Date of
Appointment : |
26.05.1997 |
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Date of
Ceasing : |
24.10.2001 |
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|
Name : |
Mr. Till Volkeer |
|
Designation : |
Director |
|
Address : |
Eichen Dorfestr
17, 65719 Hofheim. |
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Date of
Birth/Age : |
16.03.1950 |
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Date of
Appointment : |
24.10.2001 |
|
Date of
Ceasing : |
17.09.2004 |
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|
|
|
Name : |
Mr. Gras Rainer |
|
Designation : |
Director |
|
Address : |
AM, Sportplatz –
55545, Bad Kruznach |
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Date of
Appointment : |
24.10.2001 |
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Date of
Ceasing ; |
17.09.2004 |
|
|
|
|
Name : |
Mr. Vogtland
Heinz |
|
Designation : |
Director |
|
Address : |
An
Derkamnnsstruck 23, 58239, |
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Date of
Appointment : |
01.05.2002 |
|
Date of
Ceasing ; |
18.07.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Jignesh Patel
|
|
Designation : |
Deputy General
Manger in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
N Mahendra Patel |
|
27490 |
|
M Nayana Patel |
|
10 |
|
|
|
27500 |
|
K Kevalkishan
Kohli |
|
27500 |
|
Mamata Machinery
Private Limited, |
|
13750 |
|
KHS Machine UND-
Anlagenbauy AG, |
|
890000 |
|
R Yatindra Sharma |
|
13750 |
|
|
|
|
|
Total |
|
1000000 |
Equity Share Breakup (Percentage of Total
Equity)
AS ON 30.09.2010
|
Category |
|
Percentage of Holding |
|
|
|
|
|
Foreign holdings
[Foreign institutional investors, Foreign Companies, Foreign Financial
Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
94.50 |
|
Bodies
corporate |
|
1.38 |
|
Directors
or relatives of directors |
|
4.12 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer,
Exporter and Importer of Machines used to manufacturer soft drink bottles. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010):-
|
Particulars |
Unit |
Licensed
Capacity* |
Installed
Capacity* |
Actual
Production |
|
Bottling Machines |
Nos. |
-- |
-- |
254 |
|
|
|
|
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|
*Licensed capacity
is not applicable in terms of Government of India’s Notification No. S.O. 477
(E) Dated July 25, 1991. Management is of the view that considering the nature of
manufacturing activity, it is not possible to determine Installed capacity on
which auditors have placed reliance without verification, this being a
technical matter.
GENERAL INFORMATION
|
No. of
Employees : |
Approximately 140
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Bankers : |
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Facilities : |
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Banking Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Account |
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Address: |
252, Veer
Savarkar Marg, |
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PAN No.: |
AAEFP3641G |
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Fellow
Subsidiaries: |
·
KHS
AG- Corpoplast GmbH and Co. KG – ·
KHS ·
KHS
China GLM2 Co. Limited ( ·
KHS Industrial
De Maquinas Ltda. ( ·
KHS
Pacific Ptyl Limited- ·
KHS
USA Inc., ·
Kloeckner
Desma Machinery Private Limited |
|
|
|
|
Holding
Company : |
|
|
|
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|
Ultimate
Holding Company: |
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Others Related
Parties : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Note:
Of the above 890000 Equity Shares are held by KHS AG – Germany, the
Holding Company which is a Subsidiary of Saizgitter Mannesmann GmbH, the
Ultimate Holding Company.
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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
374.350 |
293.605 |
274.842 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
384.350 |
303.605 |
284.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.252 |
12.358 |
11.107 |
|
|
2] Unsecured Loans |
50.000 |
90.356 |
130.492 |
|
|
TOTAL BORROWING |
61.252 |
102.714 |
141.599 |
|
|
DEFERRED TAX LIABILITIES |
14.320 |
14.753 |
10.987 |
|
|
|
|
|
|
|
|
TOTAL |
459.922 |
421.072 |
437.428 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
415.159 |
428.994 |
440.362 |
|
|
Capital work-in-progress |
2.240 |
0.403 |
4.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
368.841
|
538.589 |
431.285
|
|
|
Sundry Debtors |
291.405
|
96.325 |
156.831
|
|
|
Cash & Bank Balances |
94.328
|
117.876 |
123.881
|
|
|
Other Current Assets |
0.312
|
0.987 |
0.136
|
|
|
Loans & Advances |
59.214
|
53.998 |
43.016
|
|
Total
Current Assets |
814.100
|
807.775 |
755.149
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
459.747
|
420.067 |
613.763
|
|
|
Other Current Liabilities |
271.431
|
377.894 |
99.312
|
|
|
Provisions |
40.399
|
18.139 |
49.008
|
|
Total
Current Liabilities |
771.577
|
816.100 |
762.083
|
|
|
Net Current Assets |
42.523
|
[8.325] |
(6.934)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
459.922 |
421.072 |
437.428 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
1777.418 |
649.632 |
1698.432 |
|
|
|
TOTAL (A) |
1777.418 |
649.632 |
1698.432 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
1601.628 |
584.411 |
1449.521 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1601.628 |
584.411 |
1449.521 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
175.790 |
65.221 |
248.911 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.640 |
6.826 |
9.755 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
171.150 |
58.395 |
239.156 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
40.034 |
37.991 |
29.770 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
131.116 |
20.404 |
209.386 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
47.445 |
[1.283] |
105.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
83.671 |
21.687 |
104.355 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
231.418 |
214.855 |
126.849 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
8.400 |
2.200 |
10.500 |
|
|
|
Proposed Dividend |
2.500 |
2.500 |
5.000 |
|
|
|
Tax on Dividend |
0.425 |
0.424 |
0.849 |
|
|
BALANCE CARRIED TO
THE B/S |
303.764 |
231.418 |
214.855 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
36.150 |
163.844 |
343.978 |
|
|
TOTAL EARNINGS |
36.150 |
163.844 |
343.978 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
591.134 |
133.589 |
3399.249 |
|
|
|
Bought Out Components |
53.638 |
20.406 |
427.251 |
|
|
|
Capital Goods |
0.256 |
0.000 |
1.038 |
|
|
TOTAL IMPORTS |
645.028 |
153.995 |
3827.538 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
83.67 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
PAT / Total Income
|
(%)
|
4.71 |
3.34
|
06.14 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
10.67 |
1.65
|
17.51 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.34 |
0.07
|
0.74 |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
2.17 |
3.03
|
3.17 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.06 |
0.99
|
0.99 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in Millions) |
31.03.2009 (Rs. in Millions) |
31.03.2008 (Rs. in millions) |
|
Micro and Small Enterprises |
2.076 |
3.624 |
34.193 |
|
Others (including due to
KHS AG, Germany Rs.351.332 millions |
457.671 |
416.443 |
579.576 |
|
Total |
459.747 |
420.067 |
613.769 |
Year in
Retrospect:
The global
financial crisis continued to impact business potential and industrial investments in the industry fo the year 2009-10.
However the company had taken aggressive approach to get business form CSD,
Beer and Other markets. The business was offered by customers at very low
price. However with extensive selling efforts and continuous cost control on
manufacturing activities have helped them to get such business at extremely
competitive price in the market.
The company
delivered for the first time high speed modern technology PET packaging line
for CSD applications in
With all this
efforts the company has registered an impressive sales growth of 273% against
sales of year 2008-09. With aggressive cost control on manufacturing and
operational activities. Profi before taxes has risen 387% against the profit of
year 2008-09.
Continuous steps
are being taken to extent the market share in Indian beverage industry. They
look forward to good for next year. It will be the year of high growth and good
profitability.
Contingent Liabilities:
|
Particulars |
31.03.2009 Rs. in Millions |
31.03.2008 Rs. In Millions |
|
Disputes Service
Tax Matters |
1.371 |
2.783 |
|
Disputed Income
Tax Matters |
2.503 |
Nil. |
|
Claims against
the company not acknowledged as debts |
3.517 |
3.285 |
Bankers Charges
Report as per Registry
|
Name of the
Company |
KHS MACHINERY
PRIVATE LIMITED |
|
Presented By |
Mr. Mahendra N
Patel, Managing Director |
|
1) Date and
description of instrument creating the change |
General Agreement
for the grant of small industries advance and Hypothecation of Movables, Book
Debts and other assets dated
18.12.2001 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.000
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
all present and future goods, book debts
movable and other assets of the Borrower including document of the
title to goods and other assets such as outstanding moneys, contract,
engagement, Securities investment and rights and the present machinery and
all future machinery. Borrower or of the bank or any 3rd party
whether in Facility Guarantee – Rs.
1.000 Millions |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Hypothecation by
way of first charge of all present and future goods, Book debts movable and
other assets and machinery Margin – 10% Tenure – 12
Months |
|
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 |
Fixed
Assets:
v
v
v
Plant
and Machinery
v
Computer
v
Furniture
and Fixture
v
Vehicles
v
Office
Equipment
v Computer Software
Website Details:
Company History:
Subject is an
international manufacturer of filling and packaging systems for the beverage, food,
and non-food industries - was established in 1993 from a merger of Holstein and
Kappert AG of Dortmund, founded in 1868, and Seitz-Werke GmbH, which was
founded in 1887 and later became SEN AG, Bad Kreuznach. The company is a wholly
owned subsidiary of Klöckner-Werke AG.
KHS Corpoplast,
KHS Plasmax, and KHS Moldtec have been integrated into the Klöckner Group since
August 2008. This means that as a wholly owned subsidiary of Klöckner-Werke AG,
KHS GmbH is now also fully active in the field of PET systems together with
these companies. At the same time, KHS Asbofill merged into KHS GmbH. The PET
technology of the newly affiliated companies stands for Bottles and ShapesTM
design and engineering, Blomax for stretch blow molders, Plasmax for barrier
coatings, and Asbofill, which provides flexible, linear aseptic filling
concepts for sensitive products.
In addition to
several plants in
The KHS Group,
managed centrally from
KHS is
considered a technological leader in filling and packaging technology
throughout the beverage industry. KHS' market position as innovator is
demonstrated by recent developments including innovative modular packaging
solutions, universal filling systems, high-performance labeling technology,
cutting-edge communication and diagnostic technologies, and much more.
Press Realease:
Technological innovation that packs a punch - KHS
monoblock expertise on show at the Expo Pack/Procesa [21.06.2010]
The Expo Pack
/ Procesa
KHS will have its
own booth at the show (Hall D, Booth 3511) and will be presenting parts of the
new KHS filler monoblock – the InnoPET BloFill. The ‘monoblock concept’ sets
new market standards and offers a big package of combined benefits for
the user, e.g. regarding:
Flexibility in the processing of different PET bottle
sizes (120-ml to 3-liter PET bottles),
Efficiency (at least 96 per cent) and speed with an
hourly capacity of max. 72,000 bottles,
Sustainability with less water consumption and
compressed air savings,
Cost
minimization by using
lighter PET bottles, saving space, reduced use of preforms and materials and
Simplicity thanks to modularity, faster changeover
and increased ease of operation.
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.44.23 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
51 |
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.