MIRA
INFORM REPORT
|
Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
VIRGO ENGINEERS LIMITED |
|
|
|
|
Registered Office : |
277, Hinjenwadi Phase II, Maan (Mulshi), Pune-411057, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
08.06.1987 |
|
|
|
|
Com. Reg. No.: |
11-43673 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 421.994
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U28939PN1987PLC043673 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEV00608G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACV1586H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing, buying, selling, distributing, importing
and exporting of all kinds of engineering goods and articles |
|
|
|
|
No. of Employee: |
2000 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5557296 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is an established company having fine track. Financial position of the
company is good. 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) |
|
India |
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 : |
277, Hinjenwadi Phase II, Maan (Mulshi), Pune-411057, |
|
Tel. No.: |
91-20-66744000 |
|
Fax No.: |
91-20-66744021 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
North and Virgo Engineers
Inc. 2900, |
|
Tel. No.: |
+1-713-5543143 |
|
Fax No.: |
+713-5543148 |
|
|
|
|
Sales and Distribution Virgo Engineer Inc. : |
13219, N. Promenade, Blvd, |
|
Tel. No.: |
+1-281-4910400 |
|
Fax No.: |
+1-281-4910444 |
|
|
|
|
Overseas offices : |
Located at:- Ř
Continental Ř
Ř
Mioddle East and Ř
Far East |
|
|
|
|
Branches : |
Located At: ·
Mumbai ·
·
·
Chennai ·
Kolkata |
DIRECTORS
AS ON 23.08.2011
|
Name : |
Mr. Vaidyanath Sathnur Balsubramanian |
|
Designation : |
Whole-time –director |
|
Address : |
-504, Ganga Estate, Off |
|
Date of Birth/Age : |
12.09.1945 |
|
Date of Appointment : |
08.06.1987 |
|
DIN No. : |
00335644 |
|
|
|
|
Name : |
Mr. Mahesh Shivanand Desai |
|
Designation : |
Director |
|
Address : |
B-11/12, Chaitraban Residency, Off
|
|
Date of Birth/Age : |
16.09.1956 |
|
Date of Appointment : |
08.06.1987 |
|
DIN No. : |
00335134 |
|
|
|
|
Name : |
Mr. Jagdish Shivanand Desai |
|
Designation : |
Director |
|
Address : |
F/2, Shanti Co-operative Housing Society, |
|
Date of Birth/Age : |
21.01.1959 |
|
Date of Appointment : |
01.07.1995 |
|
DIN No. : |
00335436 |
|
|
|
|
Name : |
Mr. Rajaram Moreshwar Ajgaonkar |
|
Designation : |
Director |
|
Address : |
Mandar,Opposite Buramshell, Pump, |
|
Date of Birth/Age : |
07.02.1958 |
|
Date of Appointment : |
10.07.1995 |
|
DIN No. : |
00605034 |
|
|
|
|
Name : |
Mrs. Hetal Madhukant Gandhi |
|
Designation : |
Additional Director |
|
Address : |
Rosy CHS, Flat No. 61, |
|
Date of Birth/Age : |
29.07.1965 |
|
Date of Appointment : |
18.10.2006 |
|
DIN No. : |
00106895 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Executive Director |
|
Address : |
H-4, Duplex
Shrinath Heritage, Pashian, Pune-411008, |
|
Date of Birth/Age : |
22.06.1951 |
|
Date of Appointment : |
16.10.2001 |
|
|
|
|
Name : |
Mr. Arun M. Shiroor |
|
Designation : |
Executive Director |
|
Address : |
8, Dhanshree
Apartments, S.No.133/1-2, Off |
|
Date of Birth/Age : |
07.02.1958 |
|
Date of Appointment : |
01.11.2003 |
|
|
|
|
Name : |
Mr. Kishore A. Kulkarni |
|
Designation : |
Director |
|
Address : |
33, ICICI Apartments,
Spring Mills Compound, Mumbai-400014, |
|
Date of Birth/Age : |
06.06.1954 |
|
Date of Appointment : |
18.06.2004 |
|
DIN No. : |
01572451 |
|
|
|
|
Name : |
Mr. Bill Neimann |
|
Designation : |
Director |
|
Address : |
12009, |
|
Date of Birth/Age : |
04.11.1943 |
|
Date of Appointment : |
20.07.2005 |
|
|
|
|
Name : |
Mr. Paresh Jaisingh
Rajda |
|
Designation : |
Whole Time Director |
|
Address : |
F-6/1, |
|
Date of Birth/Age : |
18.01.1957 |
|
Date of Appointment : |
10.02.2009 |
|
DIN No. : |
00680340 |
|
|
|
|
Name : |
Mr.
Narayana Iyer Venkiteswaran |
|
Designation : |
Director |
|
Address : |
House No. 415. IIM
Campus, IIM Vastrapur. Ahmedabad 380015, |
|
Date of Birth/Age : |
23.04.1950 |
|
Date of Appointment : |
26.10.2007 |
|
DIN No. : |
00056000 |
|
|
|
|
Name : |
Mr. Dheerendra Ramrao Joshi |
|
Designation : |
Director |
|
Address : |
4114.Garden View Amritvan, Goregaon (E) Mumbai 400 063,
Maharashtra, |
|
Date of Birth/Age : |
19.05.1955 |
|
Date of Appointment : |
27.04.2010 |
|
DIN No. : |
00077046 |
|
|
|
|
Name : |
Mr. Manu Mahmud Parpia |
|
Designation : |
Director |
|
Address : |
72,
Tenerife Little |
|
Date of Birth/Age : |
16.01.1950 |
|
Date of Appointment : |
26.10.2007 |
|
DIN No. : |
00118333 |
|
|
|
|
Name : |
Mr. Abhay Mahadeo Nalawade |
|
Designation : |
Director |
|
Address : |
Aman 53, National Housing Society, |
|
Date of Birth/Age : |
23.03.1949 |
|
Date of Appointment : |
26.10.2007 |
|
DIN No. : |
00342055 |
|
|
|
|
Name : |
Mr. Dhananjay Shrikrishna Kelkar |
|
Designation : |
Director |
|
Address : |
902, |
|
Date of Birth/Age : |
06.11.1961 |
|
Date of Appointment : |
26.10.2007 |
|
DIN No. : |
01195954 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj
Ramakant Kohok |
|
Designation : |
Company Secretary |
|
Address : |
Shreeeramkunj,
43/73, Navsahyadri Housing Society, Karvenagar, Pune-411052, |
|
Date of Birth/Age : |
28.08.1967 |
|
Date of Appointment : |
13.08.1999 |
|
Pan No.: |
ABJPK9557C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.08.2011
|
Names of Shareholders |
No. of Shares |
|
Tano |
4103072 |
|
Neeta Mahesh Desai |
769600 |
|
Sujata Jagdish Desai |
685000 |
|
V.R. Jayaraman |
548200 |
|
Billy Dean Neimann |
332511 |
|
B. Praveena |
495000 |
|
S.N. Srinivasan |
360000 |
|
Deepak Kirtialal Shah |
413400 |
|
B. Prasad |
13679004 |
|
Mahesh Shivanand Desai |
176600 |
|
Paresh Jaisinh Rajda |
214000 |
|
Sashikala B |
120000 |
|
V. Balabsubramanian (HUF) |
11400 |
|
P H Shah |
72000 |
|
V H PatilKishore Anant Kulkarni |
87800 |
|
V Anantharaman |
67200 |
|
V. Balabsubramanian |
11790064 |
|
Shamalal Kishhore Kulkarni |
65400 |
|
Sheetal Deepak Kulkarni |
48000 |
|
Nitin D. Kanade |
40000 |
|
Samir Madhukar Kumta |
36000 |
|
Sarang Rajaram Sathe |
18000 |
|
Meena Kumta |
36000 |
|
Anagha N. Kanade |
33600 |
|
Krupa Kishore Kulkarni |
33600 |
|
Rajaram M. Ajgaonkar |
3046580 |
|
Jagdish Shivanand Desai |
2373037 |
|
Sanyukta Desai, USA |
482800 |
|
Amod M Desai |
424000 |
|
Anand J Desai, USA |
300000 |
|
Pooja J Desai, USA |
300000 |
|
Mahesh K Malkarnekar, USA |
800 |
|
Sabine Richter, Germany |
40436 |
AS ON 23.08.2011
|
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 |
56.93 |
|
Bodies corporate |
0.08 |
|
Directors or relatives of Directors |
35.86 |
|
Other |
7.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, buying, selling, distributing, importing and
exporting of all kinds of engineering goods and articles |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
2000 (approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Associates Chartered Accountants |
|
Address : |
C-401,
Fourth Floor, |
|
Tel. No.: |
91-20-66036000 |
|
Fax No.: |
91-20-66015900 |
|
Pan No.: |
AABFS3421N |
|
|
|
|
Subsidiaries : |
CIN: U29120MH2004PLC146916
CIN: U29299PN2004PLC019901
|
CAPITAL STRUCTURE
AS ON 23.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60000000 |
Equity Shares |
Rs. 10/- each |
Rs. 600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
42199404 |
Equity Shares |
Rs. 10/- each |
Rs. 421.994
Millions |
|
|
|
|
|
Notes:
(Of the above 197556 equity
shares were allotted as fully paid up pursuant to contracts for consideration
other than cash. Further,40825784 equity shares were allotted as fully paid up
bonus shares by capitalisation
of Capital Redemption Reserve, General
Reserve and Securities Premium Account.
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 |
421.965 |
210.982 |
210.780 |
|
|
2] Equity Share pending allotment |
0.000 |
0.000 |
10.038 |
|
|
3] Employee Stock Options Outstanding |
967.359 |
0.811 |
0.734 |
|
|
4] Reserves & Surplus |
0.000 |
1042.117 |
553.035 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1389.324 |
1253.910 |
774.587 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
969.775 |
648.104 |
941.259 |
|
|
2] Unsecured Loans |
54.820 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1024.595 |
648.104 |
941.259 |
|
|
DEFERRED TAX LIABILITIES |
41.953 |
41.374 |
30.905 |
|
|
|
|
|
|
|
|
TOTAL |
2455.872 |
1943.388 |
1746.751 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
816.753 |
735.615 |
685.184 |
|
|
Capital work-in-progress |
90.759 |
30.544 |
85.452 |
|
|
|
|
|
|
|
|
INVESTMENT |
26.290 |
26.290 |
126.355 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
828.889
|
509.832
|
642.685 |
|
|
Sundry Debtors |
1075.376
|
810.471
|
641.818 |
|
|
Cash & Bank Balances |
60.743
|
63.952
|
53.937 |
|
|
Other Current Assets |
168.693
|
144.668
|
141.176 |
|
|
Loans & Advances |
260.954
|
195.676
|
239.882 |
|
Total
Current Assets |
2394.655
|
1724.599
|
1719.498 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
697.393 |
410.415 |
422.118 |
|
|
Other Current Liabilities |
79.945
|
74.870
|
385.932 |
|
|
Provisions |
95.247
|
88.375
|
61.688 |
|
Total
Current Liabilities |
872.585
|
573.660
|
869.738 |
|
|
Net Current Assets |
1522.070
|
1150.939
|
849.760 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2455.872 |
1943.388 |
1746.751 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2800.851 |
2486.394 |
|
|
|
Other Income |
|
398.994 |
153.320 |
|
|
|
TOTAL (A) |
2694.975 |
3199.845 |
2639.714 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed (including cost of job work) |
|
1652.286 |
1582.390 |
|
|
|
Purchase of traded goods |
2163.113 |
0.066 |
5.398 |
|
|
|
(Increase)/Decrease in inventories |
|
26.199 |
6.427 |
|
|
|
Operating and other expenses |
|
360.710 |
377.966 |
|
|
|
Employees remuneration and benefits |
|
202.107 |
183.131 |
|
|
|
TOTAL (B) |
2163.113 |
2241.368 |
2155.312 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
531.862 |
958.477 |
484.402 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
104.882 |
152.270 |
132.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
426.980 |
806.207 |
352.159 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
85.398 |
75.411 |
56.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
341.582 |
730.796 |
295.774 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
79.580 |
135.510 |
65.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
262.002 |
595.286 |
230.107 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
676.588 |
256.943 |
162.226 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
26.210 |
59.600 |
30.000 |
|
|
|
Interim dividend on equity shares |
|
52.746 |
52.695 |
|
|
|
Proposed final dividend on equity shares |
126.587 |
63.294 |
52.695 |
|
|
|
Tax on Dividend |
|
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
785.792 |
676.589 |
256.943 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
-- |
14.11 |
5.46 |
|
|
|
- Diluted |
-- |
14.11 |
5.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
9.72
|
18.66
|
8.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.67
|
26.09
|
11.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.63
|
29.60
|
12.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.58
|
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.39
|
0.97
|
2.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.74
|
3.01
|
1.98 |
LOCAL AGENCY FURTHER INFORMATION
THE YEAR IN
RETROSPECT
REVENUES
The Company’s
total revenue stood at Rs. 2,695 Million as against Rs.3,200 Million in the
previous year. Other income dropped from Rs. 399 Million to Rs. 214 Million
this year. In the previous year other income included Profit on sale of
investment amounting to Rs. 238 Million. Profit after tax (PAT) stood at Rs.
262 Million in FY 2010-11 as against Rs. 595 Million in FY 2009-10.
On a consolidated
basis, The Company’s total revenue marginally dropped by 0.58% from Rs. 6,817
Million to Rs. 6,777 Million. During the same period consolidated PAT decreased
by 18.97% from Rs. 870 Million to Rs. 705 Million. While the company continued
to maintain its gross margins despite difficult market conditions, decline in
PAT was due to increase in operating expenses and employee cost. This was
partly compensated by reduction in financial expenses.
Form 8:
|
Corporate
identity number of the company |
U28939PN1987PLC043673 |
|
Name of the
company |
VIRGO ENGINEERS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
277, Hinjenwadi Phase II, Maan (Mulshi), Pune-411057, Maharashtra,
India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
HSBC Bank
Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai 400001, Maharashtra, India Email: pareshmehta@hsbc.co.in |
|
Nature of
instrument creating charge |
Memorandum Of Constructive
Delivery Of Title Deed Dated February 6, 2012 |
|
Date of
instrument Creating the charge |
06.02.2012 |
|
Amount secured by
the charge |
Rs. 190.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per the terms
and conditions of Supplemental Hypothecation Agreement for Stocks and
Receivables and Plant and Machinery dated May 16,2011 and Constructive
Delivery of Title Deeds dated 6.2.2012 Terms of repayment As per the terms
and conditions of Supplemental Hypothecation Agreement for Stocks and
Receivables and Plant and Machinery dated May 16,2011 and Constructive
Delivery of Title Deeds dated 6.2.2012 Margin As per the terms
and conditions of Supplemental Hypothecation Agreement for Stocks and
Receivables and Plant and Machinery dated May 16,2011 and Constructive
Delivery of Title Deeds dated 6.2.2012 Extent and operation of the charge Second pari passu
charge over the immovable properties of the company for securing the working
capital facilities aggregating to Rs.190 millions. |
|
Short particulars
of the property charged (Including location of the property) |
Plot No
J-160,MIDC Industrial Area, Bhosari, Sub-Dist Haveli,Pune more particularly
described in the schedule C to the Constructive Delivery of Title Deeds dated
6.2.2012 Plot No
J-525,MIDC Industrial Area, Bhosari, Sub-Dist Haveli,Pune more particularly
described in the schedule C to the Constructive Delivery of Title Deeds dated
6.2.2012 S. No. 278(old S
No. 322), Hissa No. 1(old hissa no 4), village Maan,Taluka Mulashi,Pune
particularly described in the schedule C to the Constructive Delivery of
Title Deeds dated 6.2.2012 S. No.3/2 and 4/2 at village Mettupalayam, Taluka
Pollachi, Coimbatore, Tamil Nadu particularly described in the schedule C to the Constructive Delivery of
Title Deeds dated 6.2.2012 S.F No.3/3 at at
village Mettupalayam, Taluka Pollachi, Coimbatore, Tamil Nadu more
particularly described in the schedule C to the Constructive Delivery of
Title Deeds dated 6.2.2012 S. No. 6/1, 6/2,
7/1, and 7/2 at village Mettupalayam,
Taluka Pollachi, Coimbatore, Tamil Nadu particularly described in the
schedule C to the Constructive Delivery of Title Deeds dated 6.2.2012 G.S.No.5/2, 4/3,
and 4/5 at village Mettupalayam, Taluka Pollachi, Coimbatore, Tamil Nadu
particularly described in the schedule C to the Constructive Delivery of
Title Deeds dated 6.2.2012 G.S.No.4 1/B,
4/4, and 5/1 at village Mettupalayam, Taluka Pollachi, Coimbatore, Tamil Nadu
particularly described in the schedule C to the Constructive Delivery of
Title Deeds dated 6.2.2012 S. No. 3/1, 4/1 A
at village Mettupalayam, Taluka Pollachi, Coimbatore, Tamil Nadu particularly
described in the schedule C to the Constructive Delivery of Title Deeds dated
6.2.2012 |
|
Date of
instrument modifying the charge |
16.05.2011 |
|
Particulars of
the present modification |
By way of this modification
the immovable properties of the Company situated at Hinjewadi and Bhosari,
Pune, Maharashtra and village Mettupalayam, Taluka Pollachi, Coimbatore,
Tamil Nadu has been charged in favour of The Hongkong and Shanghai Banking
Corporation Limited on second pari passu charge basis to secure the working
capital facilities aggregating to Rs.190 millions. |
Fixed Assets:
- Buildings
- Dies and patterns
- Furniture and Fixture
- Plant and Machinery
- Electrical Installation
- Computers
- Office Equipments
- Vehicles
- ERP Software
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.50.56 |
|
|
1 |
Rs.81.04 |
|
Euro |
1 |
Rs.67.48 |
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 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
52 |
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.