MIRA
INFORM REPORT
|
Report Date : |
12.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SKODA AUTO INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No.A-1/1, Shendra, Five Star Industrial Area, MIDC, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.12.1999 |
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Com. Reg. No.: |
11-123254 |
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Capital Investment / Paid-up Capital : |
Rs.2352.372 millions |
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CIN No.: [Company
Identification No.] |
U34100MH1999PTC123254 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
NSKS05815F |
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PAN No.: [Permanent
Account No.] |
AAECS3749M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Automobile (Motor Car). |
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No. of Employees : |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7107000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Volkswagen Group, a well established and a
reputed group worldwide. Financial position of the company is moderate.
However, trade relations are reported as fair. Business is active. Payments are
reported to be usually correct 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.
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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Plot No.A-1/1, Shendra, Five Star Industrial Area, MIDC, |
|
Tel. No.: |
91-240-6631111/ 222/ 333/ 6631113 |
|
Fax No.: |
91-240-6631299/ 6631199 |
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E-Mail : |
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|
Website : |
http:// www.skoda-auto.co.in |
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|
Factory : |
E-76, MIDC Waluj, |
DIRECTORS
As on 06.04.2011
|
Name : |
Dr. Oliver Gruenberg |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
31.07.1970 |
|
Qualification : |
Degree in Physics and Engineering |
|
Experience : |
15 Years |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
03134224 |
|
|
|
|
Name : |
Mr. Sanjay Bhikchand Mundade |
|
Designation : |
Director |
|
Address : |
11, Gunjan Sankul, Vaidya Nagar, Dwaraka, Nashik, |
|
Date of Birth/Age : |
13.06.1972 |
|
Qualification : |
ICWAI, B.Com |
|
Experience : |
16 Years |
|
Date of Appointment : |
25.05.2009 |
|
DIN No.: |
02659176 |
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|
|
|
Name : |
Mr. Makarand Prabhakarrao Deshpande |
|
Designation : |
Director |
|
Address : |
P. No. 36, Sahyog Nagar, Garkheda Osmanpura, |
|
Date of Birth/Age : |
30.07.1963 |
|
Qualification : |
MLS Mumbai / M. Sc. Maths / |
|
Experience : |
22 Years |
|
Date of Appointment : |
25.05.2009 |
|
DIN No.: |
02684393 |
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|
|
Name : |
Mr. Thomas Kuehl |
|
Designation : |
Director |
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Address : |
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Date of Birth/Age : |
27.02.1965 |
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Qualification : |
Degree in Economics, Specialisation in OD and Marketing |
|
Experience : |
17 Years |
|
Date of Appointment : |
27.02.2007 |
|
DIN No.: |
01938635 |
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|
|
|
Name : |
Winfried Ludger Krause |
|
Designation : |
Director |
|
Address : |
Stadt, |
|
Date of Birth/Age : |
14.01.1962 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
03052438 |
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|
Name : |
Juergen Heinz Heinrich Stackmann |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
12.09.1961 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
03289105 |
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|
Name : |
Leszek Plonka |
|
Designation : |
Director |
|
Address : |
Vaclava Klementa 869, MLADA Boleslav 29360 |
|
Date of Birth/Age : |
28.06.1953 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
03301996 |
KEY EXECUTIVES
|
Name : |
Mr. Trivikram Guda |
|
Designation : |
Company Secretary |
|
Address : |
16-C/1, N1, |
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Date of Birth/Age : |
18.05.1981 |
|
Date of Appointment : |
04.04.2006 |
|
PAN No.: |
AIZPG7906Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.04.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Skoda Auto a.s., |
|
179037165 |
|
Skoda Auto |
|
1 |
|
Total |
|
179037166 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Skoda Auto a.s., |
|
56200000 |
|
Total |
|
56200000 |
As on 06.04.2011
|
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 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automobile (Motor Car). |
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Products : |
|
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Motor Cars |
Nos. |
41180 |
18793 |
Notes
i) Installed
Capacity, as certified by the Management and accepted by the auditors without
verification, being a technical matter.
ii) All capacities
are set up after July 25, 1991 and no Licenses are required in terms of
Notification No. 477(E) under the Industries (Development and Regulation) Act,
1951. A declaration to this effect has been mentioned in the Industrial
Entrepreneur’s Memorandum filed in this regard.
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
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Bankers : |
·
The ·
CITI
Bank, ·
HSBC
Bank, ·
Bank of ·
Punjab National Bank ·
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, |
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Income-tax
PAN of auditor or auditor's firm : |
AAEFP3641G |
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Ultimate Holding
Company : |
Porsche Automobil Holding SE |
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Intermediate
Holding Company : |
Volkswagen AG, |
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Holding Company
: |
Skoda Auto a.s., |
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|
Fellow Subsidiary
Companies (Enterprises in the Group with whom transactions have taken place
during the year) |
·
Audi AG, ·
Volkswagen de Mexico S.A. ·
Volkswagen Group Sales India Private Limited
(VWGSIPL) ·
Volkswagen India Private Limited (VWIPL) |
CAPITAL STRUCTURE
After 06.04.2011
Authorised Capital : Rs.5600.000 millions
Issued, Subscribed & Paid-up Capital : Rs.2916.008
millions
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 millions |
|
60000000 |
7% Non-Convertible, Non-Cumulative, Non-Participative Preference
Shares |
Rs.10/- each |
Rs.600.000 millions |
|
|
Total |
|
Rs.2500.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
179037166 |
Equity Shares (Note 1) |
Rs.10/- each |
Rs.1790.372
millions |
|
56200000 |
7% Non-Convertible, Non-Cumulative, Non-Participative Preference
Shares (Note 2) |
Rs.10/- each |
Rs.562.000
millions |
|
|
Total |
|
Rs.2352.372 millions |
Notes
1. 179037166
Equity Shares of Rs.10 each, fully paid-up, are held by Skoda Auto a.s.,
2. 56200000 7%
Non-Convertible, Non-Cumulative, Non-Participative Preference Shares of Rs.10
each, fully paid-up, were allotted, at par, under the External Commercial
Borrowing Scheme of the Reserve Bank of India (Exchange Control Department) to
Skoda Auto a.s., Czech Republic, pursuant to a resolution passed by the Board
of Directors at their meeting held on December 20, 2007.
The Company
received EUR 10 million as proceeds of this issue.
Preference Shares
will be redeemed, at par, at any time after three years and before the expiry
of twenty years from the date of allotment.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
2352.372 |
2352.372 |
2352.372 |
||
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves
& Surplus |
0.000 |
0.000 |
263.012 |
|
|
4] (Accumulated
Losses) |
(575.601) |
(441.215) |
0.000 |
|
|
NETWORTH |
1776.771 |
1911.157 |
2615.384 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
4553.796 |
2933.984 |
4129.569 |
|
|
TOTAL BORROWING |
4553.796 |
2933.984 |
4129.569 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6330.567 |
4845.141 |
6744.953 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2007.844 |
3023.390 |
3477.070 |
|
|
Capital work-in-progress |
342.067 |
636.677 |
742.636 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6102.171
|
4615.667 |
6874.768 |
|
|
Sundry Debtors |
2956.955
|
765.065 |
531.983 |
|
|
Cash & Bank Balances |
198.881
|
1273.841 |
190.804 |
|
|
Other Current Assets |
4.666
|
0.250 |
187.393 |
|
|
Loans & Advances |
4575.655
|
1198.898 |
1411.041 |
|
Total
Current Assets |
13838.328
|
7853.721 |
9195.989 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7589.206 |
4838.511 |
3824.864 |
|
|
Other Current Liabilities |
659.882
|
566.248 |
1951.232 |
|
|
Provisions |
1608.584
|
1263.888 |
894.646 |
|
Total
Current Liabilities |
9857.672
|
6668.647 |
6670.742 |
|
|
Net Current Assets |
3980.656
|
1185.074 |
2525.247 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6330.567 |
4845.141 |
6744.953 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
32750.608 |
19073.485 |
15111.562 |
|
|
|
Other Income |
|
1884.033 |
767.483 |
|
|
|
TOTAL (A) |
32750.608 |
20957.518 |
15879.045 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Materials |
31194.421 |
12728.179 |
15707.797 |
|
|
|
Cost of Traded Goods |
|
3236.234 |
681.373 |
|
|
|
(Accretion)/ Decretion to Inventories – Finished / Semi-Finished |
|
2359.689 |
(2329.609) |
|
|
|
Manufacturing and Other Expenses |
|
1516.924 |
815.504 |
|
|
|
Sales and Distribution Expenses |
|
1094.696 |
1071.216 |
|
|
|
Impairment Loss |
882.984 |
99.324 |
0.000 |
|
|
|
TOTAL (B) |
32077.405 |
21035.046 |
15946.281 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
673.203 |
(77.528) |
(67.236) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
2.867 |
29.415 |
18.757 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
670.336 |
(106.943) |
(85.993) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
629.722 |
596.084 |
381.176 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
40.614 |
(703.027) |
(467.169) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
175.000 |
1.200 |
156.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(134.386) |
(704.227) |
(623.498) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
263.012 |
886.510 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(441.215) |
263.012 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Financial Assistance from Sokda Auto a.s. |
1587.468 |
0.000 |
0.000 |
|
|
|
Reimbursement of Marketing Support |
101.473 |
0.000 |
0.000 |
|
|
|
Interest Income |
0.000 |
0.003 |
16.963 |
|
|
|
Miscellaneous Reimbursement |
16.521 |
0.000 |
0.000 |
|
|
|
Others |
0.000 |
0.000 |
0.137 |
|
|
TOTAL EARNINGS |
1705.462 |
0.003 |
17.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
19109.875 |
12047.292 |
15022.004 |
|
|
|
Traded Spares |
1356.626 |
1020.578 |
664.026 |
|
|
|
Capital Goods |
117.379 |
41.099 |
1733.183 |
|
|
TOTAL IMPORTS |
20583.880 |
13108.969 |
17419.213 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.75) |
(3.93) |
(3.48) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
PAT / Total Income |
(%) |
(0.41)
|
(3.36) |
(3.93) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(3.69) |
(3.09) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.26
|
(6.46) |
(3.69) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
(0.37) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.11
|
5.02 |
4.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.18 |
1.38 |
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 involved in |
-- |
|
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 |
OVERVIEW OF BUSINESS AND OPERATIONS
For company the year
2010 has begun the New Year in style by winning seven coveted awards of the
auto industry. To name a few, subject has been honoured with two prestigious
'Golden Steering Wheel Awards 2010'. two 'ET Zigwheels Awards 2009' and one
award each from 'The Business Standard Motoring Awards 2010', 'NDTV Car and
Bike Awards 2010' and 'Overdrive - CNBC TV18 Awards 2010'.
Subject rolled out
the 25000th Fabia that was built in
On 26th
November 2010 Subject, had rolled out the 10000 1st car from its plant at
Marking the
occasion, the Ambassador of the
Also Mr.
Stackmann, the Board Member for Sales and Marketing at SkodaAuto as. and
Chairman of subject, emphasised, "
In their constant
endeavor to bring newness in terms of design, comfort and technology, Subject
had launched the new Skoda Fabia 1.6 MPI, 1.2 TDI CR and 1.2 MPI and the Superb
1.8 TSI Manual transmission. The all new Skoda Fabia offers a complete new
package boosted with innovative features and engine technology. It caters to
larger group of people who want a premium hatchback, with the best of
technology, safety and practicality in their car, yet accessible price range
with an improved value for money proposition. The best in class Superb 1.8 TSI
6-speed manual gearbox is equipped with the 'Intelligent Gear Change Indicator'
takes the driving conditions into consideration and recommends the most
suitable gear level to the driver on the Multifunction Display. The response
from their customers as well as auto critics has bequeathed the all New Superb
with segment leader position and has surpassed many expectations.
The Board of
Management once again expresses its commitment of further growth and workforce
development to tackle the challenges in the near future.
Subject kick
starts 2011 with 51% sales growth for the month of January, 2011. Subject's
total sales for January, 2011 stood at 2825 units against 1881 units in January
2010. The credit for the outstanding performance goes to the newly launched
Skoda Yeti and the new Skoda Fabia. The Yeti, launched in November 2010 had
created tremendous excitement amongst auto enthusiasts. The Board is delighted
with the overall response to Yeti, which has won many prestigious awards, so
far the most awarded SUV in the country.
AWARDS AND ACHIEVEMENTS
Subject are
delighted and humbled by the following awards being bestowed on their vehicles
in
2011 - Skoda Yeti
·
Bloomberg UTV Autocar Awards 2011 - 4x4 of the Year
·
Economic Times Zigwheels - SUV of the Year
·
Economics Times Zigwheels – Design of the Year
·
CNBC Overdrive - SUVIUV of the Year
·
BBC Top Gear - Car of the Year
·
Carlndia – MUV/Crossover of the Year
·
NDTV Car and Bike award - Compact SUV of the Year
·
NDTV Car and Bike award – Best Integrated Marketing
Campaign
·
UTVi - Bloomberg Autocar – SUV of the year
·
CNBC TV18 Overdrive - SUV of the Year
2010 - Skoda Laura and Skoda Superb
The Golden
Steering Wheel Awards - 2010 by AutoBild
- Best Variant of the Year – Skoda Laura
- Best
Overdrive - CNBC
TV18 Awards – 2010
- Midsize Car of the Year – Skoda Laura
BS Motoring
Executive Car of The Year - 2010 Skoda Superb
Bloomberg
UN-Autocar Awards -2010
- Best Variant of the Year - Skoda Laura
NDTV Profit - Car lndia
and Bike lndia Awards - 2010
- Entry Premium Car of the Year - Skoda
Superb
Skoda Superb - Car
of the Year - BBC TopGear Awards 2010
Subject,
This award was
presented from the hands of Mr. Rakesh Shrivastava, IAS Joint Secretary,
Ministry of Shipping, Government of India and Mr. Kamleshwar Sharan - President
of "Greentech Foundation" on 12th December 2010.
CONTINGENT LIABILITIES
|
Particulars |
As on 31.12.2010 (Rs. in
millions) |
As on 31.12.2009 (Rs. in
millions) |
|
|
Disputes against the Company not acknowledged as debts |
227.811 |
186.777 |
Pertains to litigations filed against the Company by end customers
which are pending with various authorities viz. National Consumers Disputes
Redressal Commission, Consumers’ Disputes Forums and |
|
Demands raised by tax authorities against which the Company has preferred appeals: - Direct Taxes - Indirect Taxes |
88.795 2428.922 |
287.877 2299.200 |
Pertains to disputes with the Income Tax, Central Excise and Customs
Authorities. The Company is in appeal at various appellate levels. |
|
Demands raised by other authorities against which the Company has preferred appeals |
-- |
5.785 |
Pertains to disputes with Gram Panchayat pending at Ministry of Rural
Development, Mantralaya, Mumbai |
|
Others |
2.500 |
7.200 |
Pertains to employees related Matters |
|
Total |
2748.028 |
2786.839 |
|
FIXED ASSETS
Intangible Assets
·
Technical Know-how Fee
·
Computer Software
Tangible Assets
·
·
·
·
Residential Building
·
Plant and Machinery
·
Tools
·
Computers
·
Furniture and Fixtures
·
Office Equipment
·
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 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.55.23 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.