MIRA INFORM REPORT
|
Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
OTIS ELEVATOR COMPANY ( |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.10.1953 |
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Com. Reg. No.: |
11-009158 |
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Capital
Investment/ Paid-up Capital: |
Rs.118.082 Millions |
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CIN No.: [Company Identification
No.] |
U29150MH1953PLC009158 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO00083G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Lifting and Handling Equipment |
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No. of
Employees: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 24000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having fine track records.
Financial position of the company appears to be sound. Directors are reported
to be experienced and respectable businessmen. 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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON CO –OPERATIVE
91-22-66795151
LOCATIONS
|
Registered Office/Head Office/ Western Region : |
|
|
Tel. No.: |
91-22-28449700/6679515 |
|
Fax No.: |
91-22-28449791/9793 |
|
E-Mail : |
k.manivannan@otis.com (for
New Sales Enquires) sandeep.madan@otis.com
(for mod Enquires) manoj.nair@oits.com (Customer
complaints) anjali.Bijpuria@otis.com
(job Opportunities) |
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Factory : |
Manufacturing Facility, 92, KIADB Industrial Estate Phase 11, Jigani Industrial Area, Anekal Taluk, Bangalore – 562 106, Karnataka, India |
|
Tel. No.: |
91-80-27825401 / 02 / 03 |
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Fax No.: |
91-80-27825404 |
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Eastern Region : |
Jeevan Deep (6th
Floor)1, |
|
Tel. No.: |
91-33-22882220 / 9724 |
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Fax No.: |
91-33-22884270 |
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Northern Region : |
504-505, 5th Floor, Rectangle One, D -4, Saket Place, Saket, New Delhi –110 017, India |
|
Tel. No.: |
91-11-46069000 / 9030 / 4606 |
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Fax No.: |
91-11-46069111 |
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Southern Region : |
Otis House, The |
|
Tel. No.: |
91-80-22111190 / 40314500 |
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Fax No.: |
91-80-22111191 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dr. Ram Sukhraj Tarneja |
|
Designation : |
Director |
|
Address : |
4, Pashmina, 33A, |
|
Date of Birth/Age : |
07.12.1931 |
|
Qualification : |
LLB |
|
Date of Appointment : |
22.03.1977 |
|
Din No.: |
00009395 |
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|
Name : |
Ms. Priya Shankar Dasgupta |
|
Designation : |
Director |
|
Address : |
J-1810, |
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Date of Birth/Age : |
30.06.1955 |
|
Qualification : |
LLB |
|
Date of Appointment : |
12.04.2001 |
|
Din No.: |
00012552 |
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|
|
|
Name : |
Jean Pierre Dejoux |
|
Designation : |
Director |
|
Address : |
35, Rue Malar 75007, |
|
Date of Birth/Age : |
22.05.1965 |
|
Qualification : |
BE |
|
Date of Appointment : |
28.06.2007 |
|
Din No.: |
01534971 |
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|
|
|
Name : |
Mr. Wijeyakumar Ratnabalasurier |
|
Designation : |
Director |
|
Address : |
11, |
|
Date of Birth/Age : |
24.10.1947 |
|
Qualification : |
Masters- Accountancy |
|
Date of Appointment : |
22.06.2004 |
|
Din No.: |
02508712 |
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|
|
|
Name : |
Mr. Laurent Jean Robert Bruyere Pirot |
|
Designation : |
Managing Director |
|
Address : |
Flat No.5, Le-Papeyon Cooperative Housing Society, 13 and 14th
Floor, Mount Marry, Bandra –West, Mumbai – 400050, |
|
Date of Birth/Age : |
13.08.1960 |
|
Qualification : |
BE |
|
Date of Appointment : |
01.02.2010 |
|
Din No.: |
03144509 |
KEY EXECUTIVES
|
Name : |
Tanhieya Ghosh |
|
Designation : |
Secretary |
|
Address : |
Flat No.604, Sai Shristi CHS. Plot No.7, Charkop Sector 8, Kandivali
west, Mumbai – 400067 |
|
Date of Birth/Age : |
18.10.1976 |
|
Date of Appointment : |
05.01.2010 |
|
Pan No.: |
AGDPG5747R |
|
|
|
|
Name : |
Xavier Lesort |
|
Designation : |
Director – Manufacturing and SIT |
|
Date of Birth/Age : |
35 Years |
|
Experience : |
9 Years |
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|
|
|
Name : |
Gavin Le Brocq |
|
Designation : |
Director – NE Field Operations |
|
Date of Birth/Age : |
44 Years |
|
Experience : |
28 Years |
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|
|
|
Name : |
Sanjeev S Joshi |
|
Designation : |
Director - Finance |
|
Date of Birth/Age : |
41 Years |
|
Experience : |
18 Years |
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|
|
|
Name : |
Frank Higgins |
|
Designation : |
Director - Engineering |
|
Date of Birth/Age : |
51 Years |
|
Experience : |
28 Years |
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|
|
|
Name : |
Sundar Parthasarathy |
|
Designation : |
President & Managing Director |
|
Date of Birth/Age : |
47 Years |
|
Experience : |
24 Years |
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|
|
|
Name : |
Raghib Azmi |
|
Designation : |
GM - Marketing & NE Sales |
|
Date of Birth/Age : |
46 Years |
|
Experience : |
24 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2011
|
Category |
|
Percentage |
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|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
98.24 |
|
Bodies corporate |
|
0.25 |
|
Other top fifty shareholders |
|
1.51 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Lifting and Handling Equipment |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Elevators |
|
|
3000 |
2460 |
Note: The installed capacity is as certified by
managing director and not verified by the auditors, as it is technical
matter
Following the industry pattern, the company
considers an Elevators escalator and produced when total components comprising a
complete lift/escalator are dispatched from the shipping department.
Accordingly, there is no closing stock of goods produced on march 31.2010 and
march 2009
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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|
|
|
Bankers : |
·
Citi Bank N. A., 293, ·
Standard Chartered Grindlays Bank, 90, · Canara Bank, B.S. Marg, Mumbai – 400 001 ·
HDFC Bank Limited, Tulsiani Chambers, Nariman Point, Mumbai – 400 021 |
|
|
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Facilities : |
- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address: |
Mumbai, Maha |
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Pan No.: |
AAEFP3641G |
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|
|
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Subsidiaries : |
·
Supriya Elevator Company ( CIN No.: U29150TN2008PLC068160 ·
Trio Elevators Co ( CIN
No.:U31103GJ2006PLC048885 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity shares |
Rs. 10/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,808,222 |
Equity Shares |
Rs. 10/-
each |
Rs.118.082
Millions |
|
|
|
|
|
NOTES:
(1) Of the above, 10,586,044 Equity Shares of Rs. 10 each were allotted
as fully paid-up Bonus Shares by way of Capitalisation of General Reserve and
Share Premium Account.
(2) Of the above, 5,644,800
(Previous Year 5,644,800) Equity Shares, 2,995,810 (Previous Year 2,995,810)
Equity Shares and 2,959,209 (Previous Year 2,959,209) Equity Shares are held by
Otis Elevator Company, New Jersey, U. S. A., Otis Elevator Company (S) Pte.
Limited,
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 |
118.082 |
118.082 |
118.082 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5906.764 |
4827.763 |
4008.251 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6024.846 |
4945.845 |
4126.333 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6024.846 |
4945.845 |
4126.333 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
242.072 |
265.458 |
300.255 |
|
|
Capital work-in-progress |
6.937 |
3.031 |
1.627 |
|
|
|
|
|
|
|
|
INVESTMENT |
112.200 |
100.000 |
100.000 |
|
|
DEFERREX TAX ASSETS |
117.260 |
118.595 |
48.304 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
605.575
|
562.546
|
435.753
|
|
|
Contract work – in progress |
0.000
|
0.000
|
207.973
|
|
|
Sundry Debtors |
1544.134
|
1522.271
|
1376.022
|
|
|
Cash & Bank Balances |
6949.217
|
6179.212
|
5071.279
|
|
|
Other Current Assets |
313.223
|
154.549
|
17.632
|
|
|
Loans & Advances |
935.450
|
1054.797
|
730.043
|
|
Total
Current Assets |
10347.599
|
9473.375 |
7838.702 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1070.504
|
1138.488
|
1169.430
|
|
|
Other Current Liabilities |
3234.444
|
3413.322
|
2634.469
|
|
|
Provisions |
496.274
|
462.804
|
376.185
|
|
Total
Current Liabilities |
4801.222
|
5014.614 |
4180.084 |
|
|
Net Current Assets |
5546.377
|
4458.761 |
3658.618 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
17.529 |
|
|
|
|
|
|
|
|
TOTAL |
6024.846 |
4945.845 |
4126.333 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8990.993 |
7461.798 |
7232.199 |
|
|
|
Other Income |
508.981 |
360.721 |
627.297 |
|
|
|
TOTAL |
9499.974 |
7822.519 |
7859.496 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
3984.414 |
3021.843 |
|
|
|
|
Manufacturing service costs |
0.000 |
0.000 |
|
|
|
|
Employee related expenses |
1440.926 |
1181.020 |
|
|
|
|
Administrative selling other expenses |
2317.440 |
2156.024 |
|
|
|
|
TOTAL |
7742.780 |
6358.887 |
5904.062 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1757.194 |
1463.632 |
1955.434 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1757.194 |
1463.634 |
1955.434 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
61.746 |
96.304 |
66.711 |
|
|
|
|
|
|
|
|
|
Less |
EXTRA ORDINARY
ITEMS BEFORE TAX |
43.738 |
92.135 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1651.711 |
1275.193 |
1888.723 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
572..711 |
455.679 |
749.884 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1079.000 |
819.514 |
1138.839 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4820.425 |
4000.912 |
3141.704 |
|
|
|
|
|
|
|
|
|
Less |
Utilized
for buy back of equity shares |
0.000 |
0.000 |
279.631 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5899.425 |
4820.426 |
4000.912 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB Basis |
9.247 |
29.195 |
31.000 |
|
|
|
Technical Design Fees |
0.888 |
7.890 |
35.195 |
|
|
|
Export Services |
0.391 |
0.276 |
0.161 |
|
|
|
Other Income [Freight, insurance etc.] |
0.784 |
2.476 |
2.630 |
|
|
|
Other Earnings |
0.130 |
0.344 |
0.000 |
|
|
TOTAL EARNINGS |
11.440 |
40.181 |
68.986 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components |
778.946 |
565.610 |
486.776 |
|
|
|
Capital Goods |
12.528 |
51.917 |
5.858 |
|
|
TOTAL IMPORTS |
791.474 |
617.527 |
492.634 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
91.38 |
69.40 |
92.09 |
|
%20LIMITED%20-%20191543%2027-Aug-2012_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.36 |
10.48
|
14.49
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.37 |
17.09
|
26.12
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.60 |
13.09
|
23.20
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.26
|
0.46
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80 |
1.01
|
1.01
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.16 |
1.89
|
1.87
|
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
SUNDRY CREDITORS DETAIL
(Rs. In Millions)
|
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due small micro enterprises |
1.238 |
1.408 |
0.124 |
|
Creditors due others |
1069.266 |
1137.080 |
1169.306 |
|
Total |
1070.504 |
1138.488 |
1169.430 |
OPERATIONS:
FINANCIALS
During the year,
the Indian economy continued on an upswing. The current fiscal year saw a GDP growth
rate of 8.5%. During this previous year, the Company took some strategic
initiatives to improve its volumes and profitability. The effects of these
changes have borne results in the current year and will do so in the coming
years. During the year ended March 31, 2011, the company has registered a Sales
Turnover of Rs. 9121.56million as compared to Rs.7539.900 million, recorded
last year, up by 21%. The profit before tax was Rs.1651.71 million against
Rs.1275.190 millions, recorded last year, up by nearly 30%.
BUY BACK OF SHARES
The Company had
successfully concluded its First Buyback of Shares at a rate of Rs.1333/- per
share in the year 2008. 339 shareholders participated in the offer by
surrendering 773,444 shares. The offer was for 733,863 shares and hence the
excess shares were returned back to the shareholders. Company proposes to keep
open the option of buy back and hence, it is proposed to seek a fresh enabling
authorisation from the shareholders.
BUSINESS
In the current
economic scenario, they have witnessed good activity in the construction
industry in a large number of non-metro cities, besides the metro themselves.
The company has experienced growth in revenues in the year .As you are aware,
the company’s revenue accrue from the two major business segments - New
Equipment sales (including modernisation) and Service sales.
CURRENT OUTLOOK:
Things are expected to turnaround for better. There is a lot of activity happening in the realty sector. With the political stability, the GDP is expected to again reach a level of 9% in the year 2011-2012. Company management is closely monitoring and reviewing these changes to suitably modify its business strategy to suit changed market environment. The Company is confident of making its way ahead, without compromising on its core values, as well as sustaining its brand-value with its customers.
At a time when input costs remain high and price volatility brings added challenges, they will continue to focus on the best value for their customers through innovations and strong cost efficiency programmes. They see these as key drivers of value creation for their business.
While they manage their business dynamically to deliver consistent and profitable growth, they also recognise that responsible growth is as important. They have started highlighting and showcasing their Green products which will have positive environmental impact. In an increasingly resource-constrained world, this decoupling of growth from the impact on the planet is the model that consumers will ultimately demand.
CONTINGENT
LIABILITIES NOT PROVIDED FOR
(a) Claims against the Company not acknowledged as debts Rs. 205.350 Millions (Previous Year Rs. 179.266 Millions) pertains to litigations/ claims against the Company by customers/ ex-employees/ general public. The Company has strong grounds of appeal and does not foresee any outflow in this regard.
(b) Assessed Sales Tax liability of the Company not acknowledged as debts and not provided for, in respect of which the Company is in appeal Rs. 2211.360 Millions (Previous Year Rs.467.718 Millions) pertains to litigations/ disputes with various Sales tax authorities. The Company is in appeal at various appellate levels. Based on opinion received from legal counsel / Expert, the Management is of view that the Company does not expect an outflow in this regard.
(c) Guarantees issued by banks on behalf of the Company Rs. 709.083 Millions (Previous Year Rs.622.047 Millions). These are issued in favour of the various government departments and customers for specific business purpose. The Management is of opinion that there will be no impact on future cash flow of the Company.
(d) The Company has received various Show-cause-Notices aggregating Rs.2232.398 Millions (Previous Year Rs. 1375.797 Millions) and demand notices aggregating Rs.1101.992 Millions (Previous Year Rs. 1103.341 Millions) [inclusive of Service Tax demand of Rs. 436.235 Millions (Previous Year Rs. 436.235 Millions)] from the Central Excise Department, which the Company has disputed.
Based on opinion received from legal counsel / Expert, the Management is of view that the Company has strong grounds of appeal and does not foresee any outflow in this regard.
(e) The Company has made and retained the provisions for Income Tax on the basis of decisions of Commissioner of Income Tax (Appeals), Income Tax Appellate Tribunal, High Court and Supreme Court.
Demands outstanding against the Company not acknowledged as debts and not provided for, in respect of which the Company is in appeal and exclusive of the effect of similar matters in respect of assessments to be completed: Rs. 224.815 Millions (Previous Year Rs. 25.601 Millions). The Company has strong grounds of appeal and does not foresee any outflow in this regard.
FIXED
ASSETS:
·
Leasehold
Improvement
·
·
Leasehold
Improvements
·
Buildings
·
Plant
And Machinery
·
Electrical
Installation
·
Furniture
And Fixtures
·
Office
Equipments
·
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.55.38 |
|
|
1 |
Rs.87.80 |
|
8Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
75 |
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.