MIRA
INFORM REPORT
|
Report Date : |
20.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
NEOLITE ZKW LIGHTINGS PRIVATE LIMITED |
|
|
|
|
Formally Known
as : |
NEOLITE INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
House No.28 (Back Portion), Vasudha Enclave, Pitampura, |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
20.10.1992 |
|
|
|
|
Com. Reg. No.: |
55-050702 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.117.975
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1992PTC050702 |
|
|
|
|
IEC No.: |
4102000534 |
|
|
|
|
TIN No.: |
07220336165 |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCN4157F |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer, Exporter, Importer and Trader of Head Lights, Fog Lamps,
Work Lamps, Auxiliary Lamps, Side Indicators, Roof Lamps, Front Grills. |
|
|
|
|
No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported to be
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 : |
House No.28 (Back Portion), Vasudha Enclave, Pitampura, Delhi –
110034, India |
|
Tel. No.: |
91-11-45636363 |
|
Fax No.: |
91-11-28116025 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Village Jakhodea, Opposite HSIDC Industrial Estate, , Jhajjar,
Bahadurgarh – 124507, |
|
Tel. No.: |
91-1267-241818 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. 36, Sector 4 – B, HSIIDC Industrial Estate, Jhajjar, Bahadurgarh
– 124507, |
|
Tel No.: |
91-127-6306306 |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
396, Udyog Vihar, Phase – 3, Gurgaon, |
|
Tel. No.: |
91-124-4006222 / 4006221 |
|
E-Mail : |
|
|
Area : |
182250 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 4 : |
Plot No. 137, Noida Spaecial Economic Zone, Noida Phase – 2, Gautam
Budh Nagar, Noida, |
|
Tel. No. : |
91-120-3078281 / 3078288 / 3078278 / 3078298 / 3078277 |
|
Factory: |
91-120-3078299 |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Rajesh Jain |
|
Designation : |
Director |
|
Address : |
D – 4, Rajouri Garden, New Delhi – 110027, India |
|
Date of Birth/Age : |
26.10.1971 |
|
Date of Appointment : |
20.10.1992 |
|
DIN No.: |
01481291 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31909GJ1962PTC001151 |
NEO METAL
AND ELECTRICAL INDUSTRIES PRIVATE LIMITED |
Director |
26/10/1989 |
26/10/1989 |
- |
Active |
NO |
|
2 |
U74899DL1992PTC050702 |
NEOLITE
ZKW LIGHTINGS PRIVATE LIMITED |
Director |
20/10/1992 |
20/10/1992 |
- |
Active |
NO |
|
3 |
U74899DL1978PTC009155 |
PARMOD
PLASTIC INDUSTRIES PRIVATE LIMITED |
Director |
15/09/1997 |
15/09/1997 |
- |
Active |
NO |
|
4 |
U25209DL2007PTC164864 |
NEOKRAFT
GLOBAL PRIVATE LIMITED |
Whole-time
director |
18/06/2007 |
18/06/2007 |
- |
Active |
NO |
|
Name : |
Mrs. Vaishali Jain |
|
Designation : |
Director |
|
Address : |
D – 4, Rajouri Garden, New Delhi – 110027, India |
|
Date of Birth/Age : |
05.08.1972 |
|
Date of Appointment : |
30.03.1993 |
|
DIN No.: |
01481308 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1992PTC050702 |
NEOLITE
ZKW LIGHTINGS PRIVATE LIMITED |
Director |
30/03/1993 |
30/03/1993 |
- |
Active |
NO |
|
2 |
U31909GJ1962PTC001151 |
NEO
METAL AND ELECTRICAL INDUSTRIES PRIVATE LIMITED |
Director |
12/6/2002 |
12/6/2002 |
- |
Active |
NO |
|
3 |
U25209DL2007PTC164864 |
NEOKRAFT
GLOBAL PRIVATE LIMITED |
Director |
18/06/2007 |
18/06/2007 |
- |
Active |
NO |
|
4 |
U74899DL1978PTC009155 |
PARMOD
PLASTIC INDUSTRIES PRIVATE LIMITED |
Director |
20/11/2007 |
20/11/2007 |
- |
Active |
NO |
|
Name : |
Mr. Antonitsch Jurgen |
|
Designation : |
Director |
|
Address : |
Landfriedstetten, 85, Petzenkirchen – 3252, |
|
Date of Birth/Age : |
07.09.1969 |
|
Date of Appointment : |
12.08.2008 |
|
DIN No.: |
01996869 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Kumar Jain |
|
Designation : |
Secretary |
|
Address : |
A – 22, Duj Apartments, B – 5, Sector – 14, Extension Rohini, New
Delhi – 110085, India |
|
Date of Birth/Age : |
24.04.1968 |
|
Date of Appointment : |
07.03.2005 |
|
PAN No.: |
AADPJ6512D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajesh Jain |
|
793012 |
|
Pramod Plastic Industries Private Limited, India |
|
80001 |
|
ZIZALA Lichtsysteme |
|
306735 |
|
Total |
|
1179748 |
As on 29.09.2011
Equity Share Break up (Percentage of Total Equity)
|
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 |
26.00 |
|
Bodies corporate |
6.78 |
|
Directors or relatives of Directors |
67.22 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer and Trader of Head Lights, Fog Lamps,
Work Lamps, Auxiliary Lamps, Side Indicators, Roof Lamps, Front Grills. |
||||||
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Products : |
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PRODUCTION STATUS As on 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Head Lamp Auto and Lighting Equipments |
Nos. |
-- |
-- |
7156000 |
|
Scrap |
Kg. |
-- |
-- |
821000 |
GENERAL INFORMATION
|
No. of Employees : |
1200 (Approximately) |
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Bankers : |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
V. Sachdeva and Associates Chartered Accountants |
|
Address : |
302, |
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PAN No.: |
AANPS6183K |
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|
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Joint Venture : |
·
ZIZALA Lichtsysteme GmbH (ZKW), Austria |
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Related Parties Controlled by
KMP : |
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|
|
|
Related Parties
Controlled by Relatives of Key Management Personnel : |
· Ashok Automats · Kay Bee Electronics · Veera Industries · Shanti Auto Industries · Ranee Polymer · N.U. Electricals · Adinath Industries ·
Sabras Foods |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1179748 |
Equity Shares |
Rs.10/-each |
Rs.117.975
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 |
117.975 |
127.475 |
127.475 |
|
|
2] Share Application Money |
0.000 |
110.000 |
0.000 |
|
|
3] Reserves & Surplus |
266.400 |
234.370 |
207.746 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
384.375 |
471.845 |
335.221 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
525.263 |
406.260 |
365.046 |
|
|
2] Unsecured Loans |
38.515 |
5.608 |
94.044 |
|
|
TOTAL BORROWING |
563.778 |
411.868 |
459.090 |
|
|
DEFERRED TAX LIABILITIES |
28.578 |
28.307 |
20.761 |
|
|
|
|
|
|
|
|
TOTAL |
976.731 |
912.020 |
815.072 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
390.143 |
431.483 |
333.760 |
|
|
Capital work-in-progress |
448.989 |
96.998 |
66.182 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
149.591
|
180.300
|
161.841 |
|
|
Sundry Debtors |
226.988
|
262.600
|
184.084 |
|
|
Cash & Bank Balances |
6.772
|
152.241
|
210.751 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
38.184
|
25.539
|
32.377 |
|
Total
Current Assets |
421.535
|
620.680
|
589.053 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
262.942
|
214.527 |
151.076 |
|
|
Other Current Liabilities |
16.707
|
14.662
|
17.000 |
|
|
Provisions |
4.417
|
8.546
|
9.613 |
|
Total
Current Liabilities |
284.066
|
237.735
|
177.689 |
|
|
Net Current Assets |
137.469
|
382.945
|
411.364 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.120 |
0.240 |
0.360 |
|
|
Foreign Currency Monetary Item translation difference |
0.000 |
0.354 |
3.406 |
|
|
|
|
|
|
|
|
TOTAL |
976.731 |
912.020 |
815.072 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
871.298 |
1161.062 |
|
|
|
|
Other Income |
11.642 |
7.599 |
|
|
|
|
TOTAL (A) |
882.940 |
1168.661 |
1031.826 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase / (Decrease) in stock |
(20.443) |
7.037 |
(5.217) |
|
|
|
Other Expenses |
821.575 |
1059.583 |
950.138 |
|
|
|
TOTAL (B) |
801.132 |
1066.620 |
944.921 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
81.808 |
102.041 |
86.905 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.534 |
31.128 |
35.485 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
46.274 |
70.913 |
51.420 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.026 |
34.026 |
25.172 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.248 |
36.887 |
26.248 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
9.125 |
14.263 |
11.071 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
4.123 |
22.624 |
15.177 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
241.377 |
236.119 |
255.802 |
|
|
|
Design and Development |
0.925 |
5.541 |
26.460 |
|
|
TOTAL EARNINGS |
242.302 |
241.660 |
282.262 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
36.052 |
117.203 |
128.572 |
|
|
|
Technical Know How |
8.671 |
8.240 |
6.330 |
|
|
|
Capital Goods |
63.786 |
5.504 |
24.455 |
|
|
TOTAL IMPORTS |
108.509 |
130.947 |
159.357 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
20.89 |
11.91 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.47
|
1.94 |
1.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.52
|
3.18 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.63
|
3.51 |
2.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.08 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.21
|
1.38 |
1.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
2.61 |
3.31 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
NOTE:
The registered office has been shifted from B-24- Mayapuri Phase – I,
New Delhi – 110064, India” to the present address w.e.f. 29.09.2011
NATURE OF OPERATIONS
The Company is in the business of manufacturing and suppliers of auto components, mainly, automotive lighting and signally equipments, Head Lamps, Tail Lamps and auxiliary lights etc. for all kinds of Automobiles vehicles.
DEMERGER OF
HOMELIGHTING BUSINESS
Pursuant to the terms of Joint Venture Agreement with ZKW of Austria, the company had filed a scheme of demerger under section 391 to 394 of the Companies Act, 1956 with the Hon’ble High Court of Judicature at Delhi for the purpose of demerging the homelighting business which has been approved by the Hon’ble High Court during the year vide order dated 19th November 2010.The Scheme became operative with retrospective effect from 1st October, 2007 being the “ Appointed Date” as per the approved scheme.
The current year figures in the financial statements pertain only to the Autolighting Division after giving effect to the demerger scheme as compared to the pre-demerged consolidated figures of both the divisions of Autolighting and Homelighting business in the Previous year. Hence the current year financial figures are not comparable with the figures of the previous year
REVIEW OF OPERATIONS
The Company has been able to achieve a Net Turnover of Rs.871.298 Millions as compared to Rs.1161.062 Millions (Pre demerged sales) in the previous year. The company was able to earn other income amounting Rs.11.642 Millions as compared to Rs.7.599 Millions in the previous year.
START OF COMMERCIAL
PRODUCTION IN NEW PLANT AT BAHADURGARH
The company has started commercial production from its new plant at Bahadurgarh during the year 2010-11.
JOINT VENTURE WITH
ZIZALA LICHTSYSTEME GMBH (ZKW)
The Company had entered into a Joint Venture with Zizala Lichtsysteme GMBH of Austria on 19th Dec. 2007 for manufacturing and marketing of automotive lights in India and exports which has enabled the company to obtain technology, support and training from its JV Partner. The positive results are expected to be achieved in the company based on the advanced technology support.
CONTINGENT LIABILITY:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Performance and Financial Guarantees Given by banks on Behalf of the company Bonds/Guarantees in favour of custom Department (Margin of Guarantee provided Rs. Rs.0.515 Million - Previous Year Rs.0.225 Million) |
0.515 |
0.600 |
|
Bank Guarantee provided to Customers ( Margin of Guarantee provided Rs.0.428 Million - Previous Year Rs.0.176 Million) |
1.959 |
0.709 |
|
Bank Guarantee in favour of Pollution Department (Margin of Guarantee Provided Rs.0.309 Million - Previous Year Rs.0.303 Million) |
1.213 |
1.213 |
|
Letter of Credit –Supplier ( margin for LC Rs.0.325 Million - Previous Year Rs.1.343 Million) |
1.687 |
30.504 |
|
Sales Bill Discounted from Banks Sale Bill discounted from bank not matured upto reporting date |
50.705 |
0.000 |
|
Duty saved under EPCG License Duty saved against import of assets under EPCG scheme (against export obligation). |
18.918 |
0.000 |
FORM 8 :
|
Corporate
identity number of the company |
U74899DL1992PTC050702 |
|
Name of the
company |
NEOLITE ZKW LIGHTINGS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
House No.28 (Back Portion), Vasudha Enclave, Pitampura, Delhi –
110034, India E-mail id : ca_pawanchadha@hotmail.com |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10263299 |
|
Type of charge |
Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
Karnataka Bank Limited, K – 2, Choudhary Building, Middle Circle, Overseas
Branch, Connaught Place, New Delhi, India E-mail Id : del.overses@ktkbank.com
|
|
Nature of
instrument creating charge |
Permission Letter |
|
Date of
instrument Creating the charge |
16.06.2012 |
|
Amount secured by
the charge |
Rs.52.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest
: As per permission
letter. Terms of
repayment : As per permission
letter. Margin : As per permission
letter. Extent and
operation of the charge : First and
exclusive charge on all dyes and moulds including all capital expenditure
incurred out of term loan of Karnataka Bank Limited and pari passu charge on
immovable property of the company situated at plot No. 137, Noida SEZ,
Phase-II, Noida, Gautam Budh Nagar, U.P. Others : To grant fresh
term loan of Rs.52.500 millions against hypothecation of dyes and moulds and
other capital expenditure incurred by the company. Pari passu charge on industrial
property at Plot no.137, Noida SEZ, Phase-ii, Noida, Gautam Budh Nagar, U. P.
Owned by the company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of dyes
and moulds and other capital expenditure incurred by the company. |
|
Particulars of
the present modification |
The term loan of
Rs. 52.500 Millions against hypothecation of dyes and moulds and other
capital expenditure incurred by the company modified by release of pari passu
charge on industrial property at Plot No. 137, Noida Sez, Phase II, Noida,
Gautambudh Nagar, up owned by the company. |
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.86.75 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.