MIRA
INFORM REPORT
|
Report Date : |
27.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
TYCO VALVES AND
CONTROLS INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
MULTI SARASIN
VALVES LIMITED |
|
|
|
|
Registered
Office : |
302/A, Ivory Terrace,
R.C. Dutt Road, Alkapuri, Vadodara-390005, Gujarat |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.06.1981 |
|
|
|
|
Com. Reg. No.: |
04-004441 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.189.986
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999GJ1981PTC004441 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDT00697E |
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|
|
|
Legal Form : |
Private Limited Liability
Company |
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|
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|
Line of Business
: |
Manufacturer and
Exporter of Industrial Valves. |
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|
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|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 7500000 |
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|
|
|
Status : |
Good |
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|
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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. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Sandip Kashekar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2676-300200 |
|
Date : |
25.01.2012 |
LOCATIONS
|
Registered Office : |
302/A, Ivory
Terrace, R.C. Dutt Road, Alkapuri, Vadodara-390005, Gujarat, India |
|
Tel. No.: |
91-2676-300200 91-265-2359503/2331944 |
|
Fax No.: |
91-2676-220162 91-265-2336926 |
|
E-Mail : |
|
|
Location: |
Owned |
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|
|
|
Corporate Office : |
Survey No. 150,
Maghasar Halol – |
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Tel. No.: |
91-2676-220461/220056/300200 |
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|
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|
Administrative Office : |
R 701, TTC
Industrial Area, Midcm Rabale, Navi Mumbai-400701, |
|
Tel. No.: |
91-22-27605765/27605767 |
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Fax No.: |
91-22-27694638 |
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|
Factory/ Marketing Office: |
No.23, C Mandira Apartments, No.3A, 3rd Floor, T Nagar,
Chennai-600017, |
|
Tel. No.: |
91-44-28155309/28150597 |
|
Fax No.: |
91-44-28155309 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Iqbal Singh
Malhotra |
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|
Designation : |
Managing Director |
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|
Address : |
4th
Floor, Plot No. 31, Vithal Nagar, JVPD Scheme of 10th Road, Vile
Parle (West), Mumbai, Maharashtra, India |
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|
Date of Birth/Age : |
28.09.1949 |
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|
Qualification : |
B. E. Mechanical |
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Date of Appointment : |
10.04.2006 |
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|
Din No.: |
02132718 |
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|
||||||||||||||||
|
Name : |
Mr. Dilip Ranjan Sahoo |
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|
Designation : |
Director |
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|
Address : |
16th Floor, Flat No. 1603, Villa Royale, Hiranandani Estate,
Patalipada, Thane (West) Zone 4, Thane-400607, |
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|
Date of Birth/Age : |
21.11.1968 |
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|
Date of Appointment : |
21.07.2010 |
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Din No.: |
03150361 |
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Other Directorship:
|
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|
||||||||||||||||
|
Name : |
Pak Leung Steven Leung |
||||||||||||||||
|
Designation : |
Director |
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|
Address : |
Unit 801, No. 7, Lane 168, |
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|
Date of Birth/Age : |
16.09.1956 |
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|
Date of Appointment : |
18.12.2008 |
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KEY EXECUTIVES
|
Name : |
Mr. Sandip Kashekar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Iqbal Singh
Malhotra |
|
1 |
|
Allied Electrical and Metal Products Pte. Limited [Previously Tyco |
|
18998638 |
|
|
|
|
|
Total |
|
18998639 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter
of Industrial Valves. |
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Products : |
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Exports : |
|
||||||
|
Products : |
Valves, Actuators
and Controls |
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Countries : |
·
Srilanka ·
Oman ·
Bangladesh |
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|
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Terms : |
|
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Selling : |
L/C / Cash and Credit [30 days] |
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Purchasing : |
Cash and Credit [30 days] |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Actual Production |
|
Machined Casting |
Nos. |
7672 |
|
Butterfly Valves |
Nos. |
28987 |
|
Lunkenheimer/
Angel Valves |
Nos. |
21040 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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|
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No. of Employees : |
200 (Approximately) |
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Bankers : |
v
HDFC Bank, v
State Bank of v
Citi Bank, Alkapuri, |
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
31, Nutan Bharat Society, Alkapuri, Vadodara-390007, |
|
Tel. No.: |
91-265-2333776 |
|
Fax No.: |
91-265-2339729 |
|
Pan No.: |
AADFD2337G |
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|
|
|
Holding Company: |
Tyco |
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|
|
|
Associates : |
·
Anderson Greenwood ·
Anderson Greenwood Company – UK ·
Anderson Greenwood Company – USA ·
Anderson Greenwood Instrumentation Product ·
Anderson Greenwood-Harlingen ·
Anderson Greenwood-Kunkle ·
Beijing Keystone Valve Company Limited ·
Biffi Italy S.R.L. ·
Dewrance ·
Erhard GMBH and Company ·
Fasani ·
Flow Control Technologies ·
Hanlon-O' Grady And Company, Limited (TV And C
Ireland) ·
Hindle Cockburns Limited ·
Industra-Comerio De Equip. Industrial S.A ·
KD Valves S.A.S. ·
Keystone Valve (China),Shenzhen Plant ·
Keystone Valve (UK) Limited ·
Keystone Pacific (Export) ·
Keystone Valves (Korea) Limited ·
Keystone Valves Inc. USA ·
Kitamura Valve Mfg. Company Limited ·
Ktm Ball Valve Mfg -Sichuan Company Limited ·
Ktm Ball Valve Mfg. Company Limited –China ·
Ktm Ball Valve – Japan ·
Kunkle USA ·
KV – UK ·
KV – Breda ·
KV-Taiwan ·
KV - UK Glasgow ·
Narvik Yarway B.V ·
Neotecha – Switzerland ·
Neotecha – Ag ·
Penberthy ·
Raimondi ·
Raphael Valves Industries (1975) Limited ·
Safety Systems UK Limited (Whessoe) ·
Sakhi Raimondi Valves (I) Limited ·
Sapag ·
Sempell ·
Taiwan Valve Company Limited ·
TVC West – Denver ·
Tyco - Belgium A/C ·
Tyco Electronics Systems India (P) Limited ·
Tyco Fire and Building Products - Ansul Us ·
Tyco Fire and Building Products Asia Pte Limited ·
Tyco Fire and Security India Private Limited ·
Tyco Fire and Building Products Asia Pte.
Limited, #07-01 Fu Yu Building, Singapore ·
Tyco Fire Products Customer Service Center,
Marinette, Wi, USA ·
Tyco Fire Products UK Manufacturing Limited Yew
St. Stockport, UK ·
Tyco Fire Suppression And Building Products, Great
Yarmouth, Norfolk ·
Tyco Fire Products LP, 1400 Penn Brook Pkwy,
Lansdale Pa 19446 ·
Tyco Flexonic, Auckland ·
Tyco Flow Control, NJ ·
Tyco Flow Control Argentina HQ ·
Tyco Flow Control Argentina Sa ·
Tyco Flow Control Beijing Company Limited ·
Tyco Flow Control Chile S.A ·
Tyco Flow Control Hong Kong Limited ·
Tyco Flow Control –Houston ·
Tyco Flow Control K.K – Japan ·
Tyco Flow Control NFG – Nowra ·
Tyco Flow Control Pacific Pte. Limited Brisbane,
Australia ·
Tyco Flow Control Pacific Pty Limited Australia ·
Tyco Flow Control Pacific Pty Limited ·
Tyco Flow Control Pte Limited Singapore ·
Tyco Flow Control Pte Limited ·
Tyco Flow Control Pte Limited (Distribution
Division) ·
Tyco Flow Control Pte Limited (Export A/C) ·
Tyco Flow Control, Auckland ·
Tyco International Inc ·
Tyco Thermal Constrols NV ·
Tyco Thermal Constrols India Private Limited ·
Tyco Valves and Controls Griss ·
Tyco Valves and Controls B.V. ·
Tyco Valves and Controls – Reno ·
Tyco Valves and Controls Brazil Limited ·
Tyco Valves and Controls Canada Inc ·
Tyco Valves and Controls Demexico, S.A De C.V ·
Tyco Valves and Controls Denmark A/S ·
Tyco Valves and Controls Distribution GMBH ·
Tyco Valves and Controls Distribution UK Limited ·
Tyco Valves and Controls –France ·
Tyco Valves and Controls Inc. ·
Tyco Valves and Controls Italia S.R.I V ·
Tyco Valves and Controls Italia S.R.L. (Vanessa) ·
Tyco Valves and Controls Italia S.R.L. (Raimondi) ·
Tyco Valves and Controls L.P (Morin) ·
Tyco Valves and Controls LP ·
Tyco Valves and Controls LP (Kunkle Valve) ·
Tyco Valves and Controls LP Harlingen ·
Tyco Valves and Controls LP, Denvar ·
Tyco Valves and Controls LP- Agco ·
Tyco Valves and Controls Middle East ·
Tyco Valves and Controls Taiwan Limited ·
Tyco Valves and Controls (Thailand) Limited ·
Tyco Valves and Controls, Gulfcoast - Grinnell,
USA ·
Tyco Valves and Controls, Penberthy, USA ·
Tyco Valves and Controls Morin Inc. ·
Tyco Valves and Controls (M) Sdn, Bhd-Malaysia ·
Tyco Valves and Controls LP ·
Tyco Valves and Controls LP - Pasadena ·
Tyco Valves and Controls USA Limited ·
Tyco Water Valve (Shanghai) Company Limited ·
Tyco Water Valves Company Limited ·
Westlock Controls Limited U.S.A · Westlock Controls Limited U.K. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18998639 |
Equity Shares |
Rs.10/- each |
Rs.189.986
Millions |
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 |
189.986 |
189.986 |
189.986 |
|
|
2] Share Application Money |
3.441 |
3.441 |
3.441 |
|
|
3] Reserves & Surplus |
1700.196 |
1599.507 |
1362.780 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1893.623 |
1792.934 |
1556.207 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
70.815 |
98.098 |
66.587 |
|
|
TOTAL BORROWING |
70.815 |
98.098 |
66.587 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1964.438 |
1891.032 |
1622.794 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
148.849 |
104.714 |
105.453 |
|
|
Capital work-in-progress |
4.944 |
15.564 |
0.278 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
57.081 |
54.565 |
39.499 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
714.213
|
425.781 |
510.560 |
|
|
Sundry Debtors |
718.008
|
624.493 |
680.686 |
|
|
Cash & Bank Balances |
166.313
|
554.141 |
406.672 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1409.420
|
972.478 |
565.326 |
|
Total
Current Assets |
3007.954
|
2576.893 |
2163.244 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
922.057
|
591.845 |
541.270 |
|
|
Other Current Liabilities |
322.380
|
223.949 |
137.562 |
|
|
Provisions |
9.953
|
44.910 |
6.848 |
|
Total
Current Liabilities |
1254.390
|
860.704 |
685.680 |
|
|
Net Current Assets |
1753.564
|
1716.189 |
1477.564 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1964.438 |
1891.032 |
1622.794 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2376.469 |
2447.123 |
|
|
|
Installation and Contract Revenue |
|
53.717 |
98.401 |
|
|
|
Other Income |
|
128.950 |
163.805 |
|
|
|
TOTAL (A) |
2482.526 |
2559.136 |
2709.329 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Cost and Manufacturing Expenses |
|
1717.205 |
1891.447 |
|
|
|
Personnel Expenses |
|
182.105 |
126.130 |
|
|
|
Administrative and Others Expenses |
|
269.075 |
231.518 |
|
|
|
Increase / Decrease in Finished Goods and Work in Progress |
|
(26.234) |
20.419 |
|
|
|
TOTAL (B) |
2324.853 |
2142.151 |
2269.514 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
416.985 |
439.815 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
19.998 |
9.157 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
396.987 |
430.658 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
27.325 |
27.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
157.673 |
369.662 |
402.730 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
56.984 |
132.936 |
151.122 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
100.689 |
236.726 |
251.608 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
1339.449 |
1087.841 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1576.175 |
1339.449 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
612.423 |
641.220 |
|
|
|
Commission Earnings |
763.702 |
13.190 |
22.921 |
|
|
|
Service Charges |
|
2.640 |
1.299 |
|
|
|
Miscellaneous Income |
|
0.994 |
1.007 |
|
|
TOTAL EARNINGS |
763.702 |
629.247 |
666.447 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
662.558 |
631.562 |
|
|
|
Stores & Spares |
NA |
0.150 |
0.454 |
|
|
|
Traded Goods |
NA |
288.825 |
433.837 |
|
|
|
Capital Goods |
NA |
0.302 |
1.167 |
|
|
TOTAL IMPORTS |
NA |
951.835 |
1067.020 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.30 |
12.46 |
13.24 |
|
Expected Sales (2011-12) : Rs.2500.000 Millions.
The above information has been parted by Mr. Sandip Kashekar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.05
|
9.25 |
9.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
15.55 |
16.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.99
|
13.79 |
17.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.21 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.70
|
0.53 |
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.40
|
2.99 |
3.15 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
922.057
|
591.845 |
541.270 |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Name of the company |
KEYSTONE INDIA PRIVATE LIMITED |
|
Presented By |
Shri I.S. Malhotra, the
Director |
|
Date and
description of instrument creating the change |
Agreement of Loan
Dated 18.12.1994 and Agreement of Hypothecation of Goods and Assets dated
18.12.1994. |
|
Amount secured by
the charge/amount owing on the securities of charge |
Rs.20.300 Millions (consisting of DC credit Rs.5.500 Millions, Export
Packing credit Rs.1.500 Millions, DCC on Trading Rs.2.500 Millions, D.D.P.
Inland Rs.3.500 Millions, D.D.P. Cheques Rs.0.500 Millions, Bank Guarantee
Rs.5.500 Millions and Term Loan of Rs.1.800 Millions) |
|
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
borrower’s entire goods movables and other assets, present and future
including book-debts, outstanding moneys receivables, refund claims etc. |
|
Name and Address
and description of the person entitled to the charge. |
State Bank of |
|
Date and brief description of instrument
modifying the charge |
Supplemental
Agreement of hypothecation of goods and assets dated 10.02.1999 and Supplemental
Agreement of Loan dated 10.02.1999 for increase in overall Limit upto
Rs.45.000 Millions. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
In respect of
disputed demands for Income Tax |
80.827 |
21.480 |
|
In respect of
disputed Penalties levied under Income Tax |
3.396 |
2.396 |
|
Tax liability
pursuant to non submission of concessional sales tax forms (excluding
interest and penalty) |
2.371 |
9.227 |
|
Total |
86.594 |
33.103 |
FIXED ASSETS:
v
v Leasehold Improvements
v Buildings
v Plant and Machinery
v Patterns and Tools
v Furniture and Equipments
v Office Equipment
v Computers
v 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.50.02 |
|
|
1 |
Rs.78.05 |
|
Euro |
1 |
Rs.65.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--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 |
|
63 |
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.