MIRA
INFORM REPORT
|
Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
TS TECH SUN INDIA LIMITED |
|
|
|
|
Registered
Office : |
A 47, Lower Ground Floor, Hauz Khas, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.11.1996 |
|
|
|
|
Com. Reg. No.: |
55-083402 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.154.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202DL1996PLC083402 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELT04296F DELT02346B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT4324M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of seats for automobiles, door trim and seats for
motorcycles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial position
of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
A 47, Lower Ground Floor, Hauz Khas, New Delhi – 110016, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. A6 and 7, Sector-81, Phase II, Noida – 201305, Uttar Pradesh,
India |
|
Tel. No.: |
91-120-2568631 |
|
Fax No.: |
91-120-2568581 |
DIRECTORS
As on 10.06.2011
|
Name : |
Mr. Tadashi Oshida |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-45, Defence Colony, New Delhi – 110024, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.12.1953 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate in Mechanical Engineering |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2009 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02610580 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Satoru Katagiri |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
E-243, First Floor, Greater Kailash – II, New Delhi – 110048, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.04.1961 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
05.04.2008 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02164931 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Takuo Arai |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1-152-42, Sagami – Cho, Koshigaya – Chi , Saitama, Japan 343083 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.11.1953 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
05.04.2008 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00953174 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Subhash Vasant Sathe |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 74, SFS DDA Gautam Nagar, New Delhi – 110048, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.04.1955 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
13.07.2002 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00034955 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kamal Deep Tandon |
|
Designation : |
Secretary |
|
Address : |
RZ-T-93, Shukar Bazaar, Uttam Nagar, New Delhi – 110059, India |
|
Date of Birth/Age : |
08.03.1979 |
|
Date of Appointment : |
10.03.2010 |
|
PAN No.: |
ADLPT2331F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Subhash Sathe |
|
300 |
|
Indrani Sathe |
|
300 |
|
Sun Vacuum F. Private Limited, India |
|
4024170 |
|
TS Tech Company Limited, Japan |
|
11454600 |
|
TS Tech Trim Philip Inc. Philippines |
|
300 |
|
TS Tech (Hongkong) Company Limited, Hongkong |
|
300 |
|
Ish Budhiraja |
|
30 |
|
Total |
|
15480000 |
Equity Share Break up (Percentage of Total Equity)
As on 10.06.2011
|
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 |
74.00 |
|
Bodies corporate |
26.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of seats for automobiles, door trim and seats for
motorcycles. |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Seats |
Sets |
N. A |
75000 |
60687 |
|
Foot Comp Rear Seat |
Nos |
N. A |
75000 |
49866 |
|
Door Linings |
Sets |
N. A |
75000 |
57659 |
|
Scooter Seat |
Nos |
N. A |
1800000 |
1633587 |
Note: Installed capacity as certified by the
management and relied on by the Auditors being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
The Bank of Tokyo Mitsubishi UFJ Limited, Jeevan Vihar Buidling, 3
Parliament Street, New Delhi – 110001, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor,
Building 10, Tower B, DLF Cyber City Complex, DLF City Phase-II,
Gurgaon-122002, Haryana |
|
PAN.: |
AABFD2095B |
|
|
|
|
Holding Company
: |
TS Tech Company Limited, Japan |
|
|
|
|
Enterprise having substantial interest in the
Company : |
·
Sun Vacuum Formers Private Limited CIN
No.: U74899DL1986PTC023987 ·
TRW Sun Steering Wheels Private Limited CIN
No.: U74899DL1994PTC061253 |
|
|
|
|
Joint Venture : |
TS Tech Sun Rajasthan Private Limited CIN No.:
U34300DL2008PTC181194 |
|
|
|
|
Fellow subsidiaries and other companies which
does not exercise control or significant influence over the Company : |
·
TS Tech (Thailand) Company Limited ·
TS Tech (Hong Kong) Company Limited ·
TS Tech Trim Philippines, Inc. ·
P.T.TS Tech Indonesia |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15480000 |
Equity Shares |
Rs.10/- each |
Rs.154.800 Millions |
|
|
|
|
|
Notes:
Of the above
Equity Shares, 10,320,000 Equity shares of Rs.10 each were allotted as fully paid
bonus shares by capitalisation of reserves. 11,455,200 Equity shares are held
by TS Tech Company Limited, Japan and their associate companies and the balance
4,024,800 shares are held by Sun Vacuum Formers Private Limited, and their
nominees.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
154.800 |
154.800 |
154.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1001.877 |
732.524 |
504.191 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1156.677 |
887.324 |
658.991 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
121.004 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
121.004 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
7.812 |
|
|
|
|
|
|
|
|
TOTAL |
1156.677 |
887.324 |
787.807 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
395.729 |
382.648 |
437.236 |
|
|
Capital work-in-progress |
54.379 |
1.492 |
0.180 |
|
|
|
|
|
|
|
|
INVESTMENT |
25.000 |
25.000 |
25.000 |
|
|
DEFERREX TAX ASSETS |
30.797 |
16.809 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
186.452
|
189.984 |
252.515 |
|
|
Sundry Debtors |
404.519
|
321.078 |
347.133 |
|
|
Cash & Bank Balances |
495.844
|
345.481 |
8.357 |
|
|
Other Current Assets |
0.276
|
0.109 |
0.007 |
|
|
Loans & Advances |
136.736
|
78.117 |
77.648 |
|
Total
Current Assets |
1223.827
|
934.769 |
685.660 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
421.555
|
401.434 |
315.690 |
|
|
Other Current Liabilities |
101.679
|
22.936 |
11.220 |
|
|
Provisions |
49.821
|
49.024 |
33.359 |
|
Total
Current Liabilities |
573.055
|
473.394 |
360.269 |
|
|
Net Current Assets |
650.772
|
461.375 |
325.391 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1156.677 |
887.324 |
787.807 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2985.891 |
2893.661 |
2188.746 |
|
|
|
Other Income |
19.810 |
27.654 |
18.909 |
|
|
|
TOTAL (A) |
3005.701 |
2921.315 |
2207.655 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1965.323 |
1930.975 |
|
|
|
|
Manufacturing service costs |
182.569 |
168.017 |
|
|
|
|
Employee related costs |
206.151 |
150.901 |
|
|
|
|
Administrative selling other expenses |
122.295 |
158.992 |
|
|
|
|
TOTAL (B) |
2476.338 |
2408.885 |
1976.385 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
529.363 |
512.430 |
231.270 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.766 |
2.163 |
8.895 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
526.597 |
510.267 |
222.375 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
100.886 |
136.234 |
73.298 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
425.711 |
374.033 |
149.077 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
138.367 |
127.649 |
54.698 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
287.344 |
246.384 |
94.379 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
0.000 |
4.745 |
|
|
|
Proposed Dividend |
|
15.480 |
15.480 |
|
|
|
Tax on Proposed Dividend |
|
2.571 |
2.631 |
|
|
BALANCE CARRIED
TO THE B/S |
269.353 |
228.333 |
71.523 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
0.445 |
0.579 |
0.456 |
|
|
|
Other Earnings |
0.000 |
0.046 |
0.425 |
|
|
TOTAL EARNINGS |
0.445 |
0.625 |
0.881 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials,
Components & Other Materials |
477.783 |
550.409 |
533.477 |
|
|
|
Spare Parts |
5.962 |
17.224 |
7.101 |
|
|
|
Moulds, Dies
& Tools |
12.384 |
3.863 |
67.113 |
|
|
|
Prototype Seat |
3.361 |
0.000 |
0.000 |
|
|
|
Capital Goods |
44.298 |
5.778 |
85.854 |
|
|
TOTAL IMPORTS |
543.788 |
577.274 |
693.545 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.56 |
15.92 |
6.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
9.56
|
8.43 |
4.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.26
|
12.93 |
6.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.29
|
28.39 |
13.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.42 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.50
|
0.53 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14
|
1.97 |
1.90 |
LOCAL AGENCY FURTHER INFORMATION
Note: The registered address
of the company J-286, Saket, New Delhi – 110017, India has been shifted to the
present address w.e.f. 27.08.2010
BACKGROUND
Subject was
incorporated in India on November 21, 1996 and commenced business on October
25, 1997. The business activities of the Company include manufacture, assembly
and sale of automobile components to car and scooter manufacturers in India.
The registered office of the Company is situated at Hauz Khas, New Delhi and
the manufacturing facilities are situated at Noida, U.P. and Gurgaon. The
Company is a closely held company with 11,455,200 shares held by TS Tech Co.
Ltd, Japan and their associate companies and the balance 4,024,800 shares held
by Sun Vacuum Formers Private Ltd, New Delhi and their nominees.
PERFORMANCE
The Company has
achieved a sales turnover of Rs. 3005.70 million as compared to Rs. 2921.31
million of the previous year.
The profit before
tax was Rs. 425.71 million for the current year as against a profit of Rs.
374.03 million of the previous year.
FUTURE PROSPECTS
The Indian automobile industry has been witnessing rapid escalating
growth in view of the prevailing industry trend and new launches.
The Company is also anticipating stability and elevated growth in the
automobile industry in near future.
Therefore in order
to meet the increasing demands in automobile sector, the Company is setting up
its new two wheeler plant at Pathredi Industrial Area, Distt. Alwar, Rajasthan.
Construction activities of such plant are being carried out at full swing. And
it is expected to commence the commercial production of such plant by beginning
of July’2011.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90336129 |
|
Corporate
identity number of the company |
U45202DL1996PLC083402 |
|
Name of the
company |
TS TECH SUN INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
J-286, Saket, New
Delhi – 110017, India |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
The Bank of Tokyo Mitsubishi UFJ Limited, Jeevan Vihar Buidling, 3
Parliament Street, New Delhi – 110001, India Email : prashant_nayak@in.mufg.jp
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Hypothecation covering stocks, book debts and plant and
machinery dated 12.02.09 enhancing the existing facilities of Rs.180.000
Millions (executed via Principal agreement of hypothecation covering stocks,
book-debts and Plant and Machinery dated 05.11.04, supplemental agreements of
hypothecation covering stocks, book-debts and Plant and Machinery dated
05.12.05, 16.06.08 and 22.09.08) to Rs.410.000 Millions. OD/STL - Rs.
400.000 Millions (STL max. Rs. 400.000 Millions and OD max. Rs. 50.000
Millions) LG - Rs. 10.000
Millions |
|
Date of
instrument Creating the charge |
12.02.2009 |
|
Amount secured by
the charge |
Rs.410.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Overdraft : PLR Less 2% Short Term
Loan : Short Term Floating
Rates Letter of
Guarantee : Min. 1% Terms of
Repayment Overdraft/Short
Term Loan : Maturity on
30.11.2009 (Term One Year) Letter of
Guarantee :
Maturity on 30.11.2009/ Term Five Years Margin As per Supplemental
Agreement of Hypothecation covering stocks, book debts and plant and
machinery dated 12.02.2009, Principal agreement of hypothecation covering
stocks, book-debts and plant and machinery dated 05.11.2004, supplemental
agreements of hypothecation covering stocks, book-debts and plant and
machinery dated 05.12.2005, 16.06.2008 and 22.09.2008. Extent and
Operation of the charge Additional
Security under Supplemental Agreement of Hypothecation covering stocks,
book-debts and plant and machinery dated 12.02.2009, Principal Agreement of
hypothecation covering stocks, book-debts and plant and machinery dated
05.11.2004 and supplemental agreements of hypothecation covering stocks,
book-debts and plant and machinery dated 05.12.2005, 16.06.2008 and 22.09.2008,
to secure the existing as well as enhanced facilities aggregating to Rs.
410.000 Millions |
|
Short particulars
of the property charged |
Raw Material,
Stock in process, semi finished and finished goods, consumable stores and
spares, both present and future. All present and
future book debts, outstanding monies, receivables, claims etc. All fixed assets
including plant and equipment including accessories embedded to earth or not
and/or lying loose in borrower's premises and Godowns. Location of above
assets: Either situated at borrower's factories, premises and godowns at Plot
No A-6 and 7, Sec-81, Phase -II, Noida, Uttar Pradesh or wherever else. |
|
Date of latest
modification prior to the present modification |
22.09.2008 |
|
Particulars of the
present modification |
Supplemental
Agreement of Hypothecation covering Stocks, Book-Debts and Plant and
Machinery dated 12.02.2009 enhancing the existing facilities of Rs 180.000
Millions (Principal deed dated 5.11.04, supplemental deeds dated 5.12.05,
16.06.08 and 22.09.08) to Rs. 410.000 Millions against additional security
for existing as well as enhanced facilities of moveable assets i.e. Raw
Material, Stock in process, Semi Finished, Finished Goods, Consumable Stores,
Book Debts, Fixed Assets including plant and equipment and accessories |
FIXED ASSETS
·
Leasehold Land
·
Building
·
Leasehold Improvements
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
Technical Know How Fees
·
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] 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.51.16 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
62 |
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.