MIRA
INFORM REPORT
|
Report Date : |
27.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
VIJAY TANKS AND VESSELS PRIVATE LIMITED (w.e.f. 08.09.2011) |
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Formerly Known
As : |
VIJAY TANKS AND VESSELS LIMITED |
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Registered
Office : |
B – 504, Vrindavan Apartment, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.09.2004 |
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Com. Reg. No.: |
11-014340 |
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Capital
Investment / Paid-up Capital : |
Rs.54.641 Millions |
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CIN No.: [Company Identification
No.] |
U29132MH2004PTC014340 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV01330A |
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PAN No.: [Permanent Account No.] |
AAACV4048A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Pressure Vessels, Pressure Vessels, Heat Exchangers,
Cryogenic Storage Systems, Tanks and Bullets Tanks and Bullets. |
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No. of Employees
: |
3500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4790000 |
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Status : |
Good |
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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. 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 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.
INFORMATION PARTED BY
|
Name : |
Mr. A. B. Jayramanth |
|
Designation : |
General Manager |
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Contact No.: |
91-9727769311 |
|
Date : |
26.06.2012 |
LOCATIONS
|
Registered Office : |
B – 504, Vrindavan Apartment, |
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Tel. No.: |
91-22-25684419 / 25910667 |
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Fax No.: |
91-22-25684419 |
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E-Mail : |
accounts@vijaytanks.com |
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Website : |
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Area : |
5000 Sq. ft |
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Location : |
Owned |
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Head Office / Works : |
National Highway No. 8, Sankarda, |
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Tel. No.: |
91-265-2840168/ 2840171/ 2840572 |
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Fax No.: |
91-265-2840577 2841305 |
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E Mail: |
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Area : |
5,50,000 Sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Plot No. 315 to 324, 442-D and 443 E, Kandla Special Economic Zone,
Gandhidham-370230, |
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Tel No: |
91-2836-227562 |
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Fax No.: |
91-2836-227562 |
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E Mail: |
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Area : |
60,000 Sq. ft |
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Location : |
Leased |
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Factory 2 : |
State Highway No. 20, Mithoi Lalpur, Khambhalia, Jamnagar-361305, |
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E Mail: |
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Braches : |
Located at: ·
·
Chennai ·
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DIRECTORS
AS ON 20.08.2011
|
Name : |
Mr. Ranganathan Raghavan |
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Designation : |
Managing director |
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Address : |
9, Saraswati Society, |
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Date of Birth/Age : |
26.10.1970 |
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Qualification : |
B.E. Mechanical |
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Date of Appointment : |
01.04.2005 |
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DIN No.: |
00376645 |
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Name : |
Mr. V. Sunder Rajan |
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Designation : |
Whole-time director |
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Address : |
Tarangan Society, Near |
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Date of Birth/Age : |
14.04.1953 |
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Qualification : |
B. Sc |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
00376765 |
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Name : |
Mr. Kannan Rajagopalan |
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Designation : |
Whole-time director |
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Address : |
3, Yogi Sagar Apartment, Urmi Society Alkapuri, Baroda-390007, |
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Date of Birth/Age : |
15.06.1954 |
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Qualification : |
B. Sc |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
00376719 |
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Name : |
Ms. Shalini Raghavan |
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Designation : |
Director |
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Address : |
Flat 4/A, Great Eastern Royals Tardeo, Mumbai – 400034, |
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Date of Birth/Age : |
03.03.1979 |
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Date of Appointment : |
24.06.2011 |
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DIN No.: |
03569413 |
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Name : |
Ms. Prema Raghavan |
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Designation : |
Director |
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Address : |
9, Saraswati Society, |
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Date of Birth/Age : |
07.10.1946 |
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Date of Appointment : |
28.06.2005 |
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DIN No.: |
00376692 |
KEY EXECUTIVES
|
Name : |
Mr. A. B. Jayramanth |
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Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.08.2011
|
Names of Shareholders |
No. of Shares |
|
Prema Raghavan |
650 |
|
Srinivasan R |
794 |
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Gayatri Rajan |
100 |
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Ranganathan Raghavan |
430879 |
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Padma Raghunathan |
28355 |
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Kausalya Srinivasan |
28665 |
|
Rajalakshmi Raghavan |
28814 |
|
Vasundara Raghavan |
28157 |
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Total |
546414 |
AS ON 20.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
|
Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pressure Vessels, Pressure Vessels, Heat Exchangers,
Cryogenic Storage Systems, Tanks and Bullets Tanks and Bullets. |
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Products : |
· Atmospheric, Pressurised and Cryogenic Storage Systems · Shop fabricated Process Columns, Pressure Vessels and Heat · Exchangers · Dry and Wet Gasholders, Silos · Offsites and Process Piping · Fired Heaters and Stacks · Hot Tapping of Tanks and Pipelines · Drums and Barrels · Civil and Structural Works ·
Process Plant |
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Exports : |
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Products : |
· Pressure Vessels · Heat Exchangers · Cryogenic Storage Systems · Tanks · Bullets |
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Countries : |
·
UAE ·
·
·
·
·
·
·
Srilanka |
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Imports : |
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Products : |
Raw Mateiral |
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Countries : |
·
·
·
·
·
·
·
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Terms : |
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Selling : |
Depends |
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Purchasing : |
Depends |
PRODUCTION STATUS AS ON (31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Storage Tanks |
M.T |
50000 |
|
Process Equipments |
M.T |
20000 |
GENERAL INFORMATION
|
Suppliers : |
· Shah Brothers · Chaudhary Hammers |
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Customers : |
End Users · Indian Oil Corporation · Bharat Petroleum Limited |
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No. of Employees : |
3500 (Approximately) |
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Bankers : |
·
IDBI Bank, · The Karur Vysya Bank Limited, 13, Sidcup Towers, Race Course Circle, Alkapuri, Vadodara – 390007, Gujarat, India · ICICI Bank Limited ·
State Bank of ·
State Bank of · State Bank of Saurashtra · Export – Import Bank · Standard Chatered Bank · Dena Bank · HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sharp and Tannan Associates Chartered Accountants |
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Address : |
87, Nariman Bhavan, 227, Nariman Point, Mumbai-400021, |
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Tel. No.: |
91-22-61537500/22022224/8857 |
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Fax No.: |
91-22-22023856 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFS1034J |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
690000 |
Equity Shares |
Rs.100/- each |
Rs.69.000 Millions |
|
10000 |
Preference Shares |
Rs.100/- each |
Rs.1.000 Millions |
|
|
|
|
|
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Total |
|
Rs.70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
546414 |
Equity Shares |
Rs.100/-
each |
Rs.54.641
Millions |
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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 |
54.641 |
54.641 |
54.641 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1144.896 |
915.107 |
700.217 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
1199.537 |
969.748 |
754.858 |
|
|
LOAN FUNDS |
|
|
|
|
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1] Secured Loans |
85.602 |
159.288 |
179.579 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
85.602 |
159.288 |
179.579 |
|
|
DEFERRED TAX LIABILITIES |
42.459 |
37.633 |
32.674 |
|
|
|
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|
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|
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TOTAL |
1327.598 |
1166.669 |
967.111 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
473.653 |
463.678 |
328.518 |
|
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Capital work-in-progress |
8.683 |
9.883 |
40.555 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.123 |
0.123 |
0.123 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
241.488
|
94.554
|
435.765 |
|
|
Sundry Debtors |
901.788
|
741.875
|
583.054 |
|
|
Cash & Bank Balances |
744.463
|
873.248
|
569.887 |
|
|
Other Current Assets |
12.973
|
12.912
|
19.376 |
|
|
Loans & Advances |
351.789
|
376.183
|
560.954 |
|
Total
Current Assets |
2252.501
|
2098.772
|
2169.036 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
442.587
|
335.788
|
166.269 |
|
|
Other Current Liabilities |
767.431
|
851.217
|
1218.222 |
|
|
Provisions |
197.344
|
218.782
|
186.630 |
|
Total
Current Liabilities |
1407.362
|
1405.787
|
1571.121 |
|
|
Net Current Assets |
845.139
|
692.985
|
597.915 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1327.598 |
1166.669 |
967.111 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3502.263 |
3576.824 |
3206.247 |
|
|
|
Other Income |
NA |
35.604 |
2.729 |
|
|
|
TOTAL (A) |
NA |
3612.428 |
3208.976 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials / Stores Consumed |
|
1714.550 |
2102.886 |
|
|
|
Human Resources Development Cost |
NA |
306.487 |
254.167 |
|
|
|
Operating and Other Expenses |
|
1163.882 |
443.642 |
|
|
|
Admin & Selling Expenses |
|
73.271 |
65.413 |
|
|
|
TOTAL (B) |
NA |
3258.190 |
2866.108 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
382.263 |
354.238 |
342.868 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
9.471 |
7.542 |
|
|
|
|
(Including
depreciation) |
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
344.767 |
335.326 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
42.358 |
33.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
328.418 |
302.409 |
302.052 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
75.660 |
64.301 |
51.127 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
252.758 |
238.108 |
250.925 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
65.837 |
50.030 |
21.480 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
200.000 |
200.000 |
|
|
|
Proposed Interim Dividend |
|
19.125 |
19.125 |
|
|
|
Tax on Dividend |
|
3.176 |
3.250 |
|
|
BALANCE CARRIED
TO THE B/S |
266.368 |
65.837 |
50.030 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Export Value |
849.358 |
1426.050 |
828.938 |
|
|
|
TOTAL EARNINGS |
849.358 |
1426.050 |
828.938 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Import Value |
504.183 |
476.124 |
1511.992 |
|
|
|
TOTAL IMPORTS |
504.183 |
476.124 |
1511.992 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
462.58 |
435.76 |
459.22 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
3640.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 4000.000 Millions
The above information has been parted by Mr. A.V. Jayramanth (General
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
6.59
|
7.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.38
|
8.45
|
9.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.05
|
11.80
|
12.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.31
|
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.24
|
1.61
|
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.49
|
1.38 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
- SSI
/ Micro, Small and Medium |
0.313 |
1.035 |
0.373 |
|
-
Others |
442.274 |
334.753 |
165.896 |
|
Total |
442.587 |
335.788 |
166.269 |
|
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
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 |
Yes |
|
10. Designation of contact person |
Yes |
|
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 |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
Yes |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
-- |
|
22. Litigations that the firm / promoter involved |
-- |
|
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 |
MANAGEMENT DISCUSSION AND ANALYSIS
Industry Structure
and Developments Corporate Developments
The confluence of
a sustained growth in domestic GDP and an increased role as Refiners to the
World has resulted in strong investment momentum in building and expanding Oil
Refineries and Petrochemical Plants in the domestic market and In the region
India’s strong performance as an emerging market has also attracted the
interest of many international companies that have sought to enter the local
market ether as Project Owners or LSTK Contractors to participate at various
levels of the opportunity chain.
Looking beyond the
01 and Gas sector the 12th Indian 5 Year Plan (2012-16) envisages a doubling of
investments in infrastructure from USS 577 Billion in the previous 5-Year Plan to
more than USS 1 Trillion While the primary share of these investments is
equally divided between Power and Hydrocarbons they include significant
investments in Ports Railways Roads Telecom and Water. The share of private
sector participation in the% infrastructure investments is set to grow which
would improve the ease of access to Contracting opportunities on these
projects.
Corporate
Developments
National Export Award
VTV has won a
National Award for its Export Performance from the Kandla Unit. This award is
instituted by the Export Promotion Council for EOUs and SEZs (EPCES) under the
Ministry of Commerce and Industry Government of India. Given the high priority
placed on the development of Exports from
There are 13 categories under which the awards are
presented These include one A India Basis category for the largest exports across
categories and 12 Product Specific categories ranging across Textiles IT
Chemicals Gems etc. The EPCES award for Kandla SEZ has been awarded to Vijay
Tanks and Vessels Limited 111 the category of Engineering and Metallurgical
Products.
Other notable
award winners include Jindal Saw Limited. Tata BP Solar
Top 500 Manufacturing Companies in
VTV has seen
ranked 159th amongst the Top 500 Manufacturing Companies in
Performance Review
and Prospects for the coming year
The Company has
embarked on a new growth phase evidenced by the scope and scale of recent
project wins and the increasing flow of enquiries and orders at the Sankarda
and Kandla Shops The strong year end Order Backlog position gives them the time
and resources to shape their strategic vision for the future.
Projects Division
The 2 Nos. LNG Tanks at the Petronet LNG Kochi Import
Terminal are progressing well and are slated to be hydrotested and handed over
during the current financial year Progress 011 the Cryogenic Ethylene Tank and
Ethylene VCM Spheres project for TC Sanmar Chemicals at
New project awards
have been secured from MRPL and BCPL for an aggregate of 9 Nos. Spheres. This
was followed up by tile successful award of the Rs.3060.000 Millions. EPCC
contract for the Cryogenic Ethylene Storage and Handling System 011 the OPAL
Dahel Petrochemical Project Work on all these projects is progressing
satisfactorily.
The Company has also secured LOIs worth Rs.1350.000 Millions
from M/s. Gulf Petrochem for EPC Work for the Tanks at an Oil Terminal to be
built at
These major award wins provide a strong core to the order-book and with serious discussions underway for certain additional immediate and mid-term opportunities. The overall business outlook looks very positive.
Manufacturing
Division
3otn the Sankarda and Kandla Shops had a busy year and with a healthy pipeline of bidding activity, they look forward for using their Shop operations to build an interesting degree of diversity in their market exposure.
Sakarda Works
The Company successfully delivered both [PG Stripper Columns to dovetain with RCF’s plan shutdown programs This order was executed on a last track basis and VTV’s proactive performance merited the appreciation of RCF’s management. They look forward to a deeper engagement with them on the main expansion projects being planned going forward.
Progress on the 9 Nos. BCPL Columns is also on track for timely completion Deployment of upgraded automated welding processes was done on this order and with the induction of additional equipment into the Shop infrastructure they look forward to further developments in this arena.
Discussions are also underway for a closer technical collaboration with partners to expand the range ot products delivered from the Sankarda Shop These opportunities are in the bidding stages and they hope to see these fructify into new revenue streams for the Shop in the short to medium term.
Kandla Works
The Company delivered its largest Rs.875.900 Millions order tor ODC Equiprnent required for the MRPL PFCC Unit in a record breaking manner. Their performance on this benchmark 3819 MT order including the Main Fractionator. C3 Stripper and Rectifier Columns has cemented their position with EIL. MRPL as a major player for Heavy Process Equipment and has already resulted in an uptick in enquiries for the Shop.
Fresh set of orders have been received from Petrotac for
supply of Tanks for their projects in
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U29132MH2004PLC014340 |
|
Name of the company |
VIJAY TANKS AND VESSELS LIMITED |
|
Address of the registered office or of the
principal place of business in |
Email Id : akbari@vijaytanks.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
10135542 |
|
Type of charge |
Book debts Bills Receivables |
|
Particular of charge holder |
The Karur Vysya Bank Limited, 13, Sidcup
Towers, Race Course Circle,
Alkapuri, Vadodara – 390007,
Gujarat, India Email Id : baldev@kvbmail.com |
|
Nature of instrument creating charge |
Certificate for reduction of Liability |
|
Date of instrument Creating the charge |
19.11.2010 |
|
Amount secured by the charge |
Rs.145.200 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Advance Guarantee: Rs.72.600 Millions and
Performance Guarantee Rs.72.600 Millions Commission @ 1.5% payable on yearly
upfront Terms of repayment Not Applicable Margin NIL Extent and operation of the charge First and exclusive charge on entire book debts
and receivables of the IHI (LNG Petronet) Kochi Project Others Bank Guarantee facility |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Charge only and exclusively on the entire
Book Debts and Receivables of the IHI (LNG Petronet) Kochi Project |
|
Particulars of the present modification |
Value of Advance Guarantee reduced from
Rs.145.200 Millions to Rs.72.600 Millions. Hence the total liability reduced
from Rs.217.800 Millions to Rs.145.200 Millions including Performance
Guarantee limit of Rs.72.600 Millions |
Fixed Assets
· Land
· Factory Shed
·
· Plant and Machinery
· Electrical Installation
· Furniture and Fixtures
· Office Equipments
· Vehicles
·
Computer
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. 57.07 |
|
|
1 |
Rs. 88.96 |
|
Euro |
1 |
Rs. 71.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
Yes |
|
--LITIGATION |
YES/NO |
No |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
No |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
No |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
50 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.