MIRA
INFORM REPORT
|
Report Date : |
19.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAMSUNG INDIA ELECTRONICS PRIVATE LIMITED |
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Registered
Office : |
A-25, Ground Floor, Front Tower, Mohan Co-operative Industrial Estate,
New Delhi – 110044 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.08.1995 |
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Com. Reg. No.: |
55-071387 |
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Capital
Investment / Paid-up Capital : |
Rs. 2167.875
Millions |
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CIN No.: [Company Identification
No.] |
U31900DL1995PTC071387 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS19222A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Colour Television, Refrigerator, Microwave Oven, Air Conditioners, Washing Machine, Digital Video Disc Player, Audio – Video Systems, Stereo, Video Cassettes, Computer and Related Hardware, Tele Communication Equipment and Other Home Appliances and Equipment. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (54) |
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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 35390000 |
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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 reputed multinational having good track. Financial
position of the company appears to be sound. Fundamental are strong and
healthy. Trade relations are 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
A-25, Ground Floor, Front Tower, Mohan Co-operative Industrial Estate,
New Delhi – 110044, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9962080541 (Mr. Arun) |
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Fax. No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
2nd, 3rd and 4th Floor, Tower C Vipul
Tech Square, Sector 43, Golf Coerce Road, Gurgaon, Haryana, India |
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Corporative Office : |
Suites No. 101-103, First Floor, Copia Corporate, Suites, Plot No. 9,
Jasola District Center, Delhi-110025, New Delhi, India. |
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Factory : |
Plot No.1, P-1, SIPCOT Industrial Park, Phase II, Sunguvarchatram,
India |
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Tel No.: |
91-124-4881234 |
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Fax No.: |
91-124-4882021 |
DIRECTORS
AS ON 19.09.2011
|
Name : |
Mr. Shin Soo Jung |
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Designation : |
Chairman Cum Managing Director |
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Address : |
Qutab Hotel Apartment, Saheed Jeet Singh Mar, |
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Date of Birth/Age : |
24.07.1954 |
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Date of Appointment : |
16.04.2009 |
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Date of Cessation : |
21.12.2011 |
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DIN No.: |
02601548 |
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Name : |
Mr. Kyung Hyun Jae |
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Designation : |
Whole Time Director |
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Address : |
1502-104, Dong Prior, Palace Apartment, AMSA Dong, Kang Dong –GU, |
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Date of Birth/Age : |
09.02.1964 |
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Date of Appointment : |
01.02.2010 |
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DIN No.: |
02918759 |
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Name : |
Mr. Ravinder Zutshi |
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Designation : |
Whole Time Director |
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Address : |
7, Vikram Vihar Extn. Lajpat Nagar IV, |
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Date of Birth/Age : |
19.12.1954 |
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Date of Appointment : |
25.05.2005 |
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DIN No.: |
00520290 |
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Name : |
Mr. Byong Dae Park |
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Designation : |
Director |
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Address : |
A-304, Central Park-1, Sector 42, Gurgaon-122002, |
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Date of Birth/Age : |
14.02.1959 |
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Date of Appointment : |
16.04.2009 |
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DIN No.: |
02606590 |
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Name : |
Mr. Cho Woo Kwang |
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Designation : |
Whole Time Director |
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Address : |
202, 786-3 (9/5), Bangbae – Dong, Seocho- Gu, |
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Date of Birth/Age : |
19.01.1958 |
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Date of Appointment : |
18.07.2008 |
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DIN No.: |
02271053 |
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Name : |
Mr. Soon Young Lee |
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Designation : |
Director |
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Address : |
112, Dong, 1202, HO Sinmaetan Wevhaneichae Apartment, Maetan 3, Dong
Ypungtong Gu, Suwon City, Kyunggi Do, Korea-443751 |
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Date of Birth/Age : |
17.05.1960 |
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Date of Appointment : |
20.05.2011 |
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DIN No.: |
03527809 |
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Name : |
Mr. Kyung Jin Kim |
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Designation : |
Director |
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Address : |
No. 102, BT08, Gangnam Apartment, Geumgok Dong, Cownseon-Gu, Suwon-51,
Korea-441746 |
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Date of Birth/Age : |
09.11.1963 |
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Date of Appointment : |
20.05.2011 |
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DIN No.: |
03527797 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Baweja |
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Designation : |
Secretary |
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Address : |
B-221, Sector 55, Noida-201301, |
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Date of Birth/Age : |
26.04.1975 |
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Date of Appointment : |
18.05.2007 |
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Election Commission Identity Card No. |
FJF4125100 |
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Pan No : |
AHMPB0514F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.09.2011
|
Names of Shareholders |
No. of Shares |
|
Samsung Electronics Company Limited, Korea |
216787486 |
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Samsung Asia Pte Limited, Singapore |
18 |
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Total |
216787504 |
AS ON 19.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Colour Television, Refrigerator, Microwave
Oven, Air Conditioners, Washing Machine, Digital Video Disc Player, Audio –
Video Systems, Stereo, Video Cassettes, Computer and Related Hardware, Tele
Communication Equipment and Other Home Appliances and Equipment. |
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Products : |
v Mobile Phones v TV, Video and Audio v Computers and Related Products v Home Appliances v Semiconductor v TFT LCD Modules v Telecommunication System v Fiber optics v CCTV v Compressors |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Color Televisions |
Nos. |
4050 |
3153143 |
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Color Monitors |
Nos. |
750 |
508591 |
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Washing Machines |
Nos. |
900 |
792211 |
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Refrigerators |
Nos. |
1110 |
1556040 |
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Mobile Phone |
Nos. |
11400 |
-- |
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Air Conditioner |
Nos. |
1740 |
1024718 |
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Hand Held Phones |
Nos. |
-- |
9941834 |
* As certified by
the management and accepted by auditors, being a technical matter
@ on single shift
basis, except in case of Mobile Phones where it is based on triple shift basis.
GENERAL INFORMATION
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
v
State Bank of Nepz Branch B, Phase II, Noida-201301, Uttar Pradesh, India. v ICICI Bank Limited, 9-A, Connaught Place, New Delhi - 110 001, India v
Bank of America, Barakhamba Road, New Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
Building 8, 7th and 8th Floor, Tower-B, DLF, |
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Pan. No.: |
AAEFP3641G |
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Holding Company : |
Samsung Electronics Company Limited |
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Fellow Subsidiaries : |
- Samsung Vina
Electronics Company Limited, Vietnam - Samsung Asia
Private Limited, Singapore - Samsung
Electronics Australia Pty. Limited, Australia - Thai-Samsung
Electronics Company Limited, Thailand - Samsung
Electronics Hong Kong Company Limited - Tianjin
Samsung Electronics Display Company Limited - P.T. Samsung
Electronics, Indonesia - Samsung
Malaysia Electronics (SME) SDN. BHD. - Samsung
Electronics Huizhou Company Limited - Samsung
Electronics Vietnam Company Limited - Samsung
Electronics Display(M) SDN.OMD.(HSD) - Samsung Gulf
Electronics Company Limited - Samsung
Electronics Limited (SEUK) - Samsung
Kwangju Electronics Company Limited - Seoul Commtech
Company Limited, Korea - Samsung Japan
Company Limited - Samsung
Electronics America Inc. - Samsung
Electronics Hungarian RT. Company Limited, Hungary - Samsung
Electronics Europe Logistics B.V., Netherlands - Samsung
Electronics Slovakia s.r.o, Slovakia - Samsung
Electronics Malaysia SDN.BHD. - Samsung
Electronics (Shandong) Digital Printing Company Limited, China - Tianjin
Samsung Electronics Company Limited - Tianjin
Tongguang Samsung Electronics Company Limited, China - Samsung
Electronics Taiwan Company Limited - Tianjin
Samsung Telecom Technology Company Limited - Samsung
Electronics Suzhou Computer Company Limited - Samsung
Electronics Beijing Service Company Limited - Samsung
Electronics Philippines Manufacturing Corporation - Samsung
Electronics Philippines Corporation, Philippines - Samsung
Eletronica DA Amazonia Limited, Brazil - Samsung India
Software Operations Private Limited India - Suzhou Samsung
Electronics Company Limited, China - Samsung Suzhou
Electronics Export Company Limited, China - Samsung
Electronics South Africa (Pty) Limited - LLC Samsung
Electronics Rus Kaluga, Russia |
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Associates : |
- Toshiba
Samsung Storage Technology, Korea - Samsung
Corporation Company Limited - iMarket Korea,
Inc. - Samsung SDI
(Malaysia) Sdn. Bhd. - Tianjin
Samsung SDI Company Limited - Samsung SDI
(Hong Kong) Limited - Samsung Electro-Mechanics
Company Limited - Samsung
Electro-Mechanics Pte., Limited - Tianjin
Samsung Electro-Mechanics Company Limited - Samsung
High-Tech Electro-Mechanics (Tianjin) Company Limited - Samsung Heavy
Industries Company Limited - Tianjin Samsung
Opto-Electronics Company Limited - Samsung SDS
Company Limited - Samsung
Networks Inc. - Samsung SDS
Asia Pacific Pte. Limited - SEHF Korea
Company Limited - Samsung SDI
Vietnam Company Limited, Vietnam - Cheil
Industries Inc., Korea - Samsung Techwin
Company Limited, Korea - Tianjin
Samsung Techwin Opto-Electronic Company Limited, Korea - Samsung Fire
& Marine Insurance Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
244000000 |
Equity Shares |
Rs.10/- each |
Rs. 2440.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
216787504 |
Equity Shares |
Rs.10/- each |
Rs. 2167.875
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 |
2167.875 |
2167.875 |
2167.875 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6681.898 |
5920.965 |
1898.976 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8849.773 |
8088.840 |
4066.851 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
5164.990 |
900.000 |
2774.307 |
|
|
TOTAL BORROWING |
5164.990 |
900.000 |
2774.307 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14014.763 |
8988.840 |
6841.158 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
8846.739 |
4397.988 |
4096.055 |
|
|
Capital work-in-progress |
668.755 |
2413.825 |
74.734 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
658.515 |
704.252 |
367.133 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16806.411
|
12128.621
|
8138.490
|
|
|
Sundry Debtors |
10143.616
|
8629.631
|
4921.853
|
|
|
Cash & Bank Balances |
277.980
|
3306.959
|
462.418
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
5125.252
|
4532.262
|
2934.216
|
|
Total
Current Assets |
32353.259
|
28597.473 |
16456.977 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22055.257
|
22553.766
|
10932.657
|
|
|
Other Current Liabilities |
1686.077
|
1582.297
|
1034.506
|
|
|
Provisions |
4771.171
|
2988.635
|
2186.578
|
|
Total
Current Liabilities |
28512.505
|
27124.698 |
14153.741 |
|
|
Net Current Assets |
3840.754
|
1472.775
|
2303.236
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14014.763 |
8988.840 |
6841.158 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
141402.667 |
106876.031 |
77920.414 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
137130.241 |
99342.795 |
74363.667 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
137130.241 |
99342.795 |
74363.667 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4272.426 |
7533.236 |
3556.747 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
197.640 |
124.630 |
333.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4074.786 |
7408.606 |
3223.674 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2090.531 |
1403.015 |
1437.346 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1984.255 |
6005.591 |
1786.328 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1223.322 |
1983.602 |
1371.840 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
760.933 |
4021.989 |
414.488 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1242.607 |
5296.809 |
|
|
|
Software Exports |
NA |
1864.825 |
1232.080 |
|
|
|
After Sales Services Income |
NA |
157.085 |
179.025 |
|
|
|
Sales Support Income |
NA |
35.015 |
27.014 |
|
|
|
Miscellaneous Income |
NA |
53.300 |
-- |
|
|
|
Reimbursement of Marketing, Services and Other Expenses |
NA |
772.630 |
868.727 |
|
|
TOTAL EARNINGS |
NA |
4125.462 |
1641.357 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
38334.407 |
26790.236 |
|
|
|
Finished Goods |
NA |
26427.627 |
11635.456 |
|
|
|
Services Spares |
NA |
652.918 |
449.181 |
|
|
|
Capital Goods (including Capital Goods in Transit) |
NA |
2204.198 |
920.149 |
|
|
TOTAL IMPORTS |
NA |
67619.150 |
39795.022 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.51 |
18.55 |
1.91 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.54
|
3.76 |
0.53
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.74
|
17.82 |
8.69
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.74 |
0.44
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.81
|
3.46 |
1.16
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.05 |
1.16
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from 7th
and 8th Floor,
PERFORMANCE
The Company
clocked an increase of 32.31% in its Sales and other Income for the year ended
31st March, 2011 as compared to the previous year. Inspite of the
increase in sales and other income the margins were under pressure.
The will be
pleased to know that in November 2010 the Company inaugurated its 2nd
Refrigerator factory in India at the Chennai plant. The registered office of
the Company was also shifted to the new address at Mathura Road for more
effective functioning.
The Company put up
a strong performance on the strength of continuous product innovation,
sustained brand building and innovative advertising programs. The Company not
only consolidated its leadership in several categories but also created new
markets to drive its growth.
The Company had
the privilege of being the first Company to launch 3D LED TVs in the Indian
market. The Company could also sustain the momentum for its Flat Panel TV
category by launching new models and retained its leadership in this category
with a 31.4% value market share for the calendar year 2010. The Company also
grew its Flat TV sales and ended the calendar year 2010 with a value market
share of 28.3%, thereby retaining its No. 2 Position in the Indian market.
The Company gave a
strong boost to its mobile business by launching innovative new Smartphones,
thereby creating a strong impact in the Smartphone market. The Company launched
its ‘bada’ platform at the first ever ‘Global Developer Day’ in India at
Bangalore. Here, the Company engaged with the developer community and presented
the unique benefits and unprecedented opportunities of the bada platform. Based
on its differentiated product portfolio, channel expansion and innovative
advertising, the Company consolidated its position as the No. 2 Player in the Mobile
market in India. The Company ended the year with a 17.8% volume and 20.6% value
market share in the fast growing mobile handset market in India.
The Company also
achieved a strong growth in Home Appliances in the calendar year 2010 through
new product innovations and exciting marketing campaigns. The Company launched
the ‘Frrrunch’ range of refrigerators comprising of 19 new Direct Cool and 43
new Frost free models. The Company commenced the manufacture of the ‘Inspira’
Frost Free and ‘Pride’ Direct Cool refrigerators at the new facility at
Chennai. The Company strongly consolidated its position in the Frostfree
refrigerator segment and ended the calendar year 2010 with a 31.1% value and
29.2% volume market share in this segment.
The Company
introduced its revolutionary ‘Eco Storm’ technology in its 7.0 kg and above Top
Loading Washing Machines for better wash performance and less water spending.
They will be pleased to know that the Company ended the calendar year 2010 by
establishing its market leadership in the fully automatic top loading washing
machine segment and notched up a 28.7% market share in this category.
To spearhead its
marketing campaigns for Home Appliances, the Company signed up Bollywood
superstar Priyanka Chopra as its new Brand Ambassador for its Home Appliance
products.
The Company
succeeding in stimulating demand for its IT products by launching new products
in the Netbook/Notebook segments, Printers and the Monitor segments. The
Company enhanced its Portable PC portfolio by launching new feature-packed NF
and SF series of Netbook and Notebook models respectively. With the launch of
NF 210, Samsung became the first Company in India to launch Atom Dual Core
based netbooks. The Company also enhanced its Printer line-up by launching new
and advanced printer models in different categories, including the World’s
Smallest Laser Printer-ML 1666. The Company also launched the Myst Eco Series
of TFT monitors and the ‘Konect Plus’ Multifunction Monitor in the Indian
market. The Company ended the calendar year 2010 by retaining its No.1 Position
in Monitors with 25.8% value market share.
The Company’s
Corporate Social Responsibility initiatives were recognized by the industry,
with the Company winning the reputed Golden Peacock Award for Corporate Social
Responsibility. Under the aegis of the Company’s Hope Project, the Company
organized the second edition of the Tagore Literature Awards in May 2011 by
recognizing the literary contributions in 8 Indian languages. The Awards seek
to recognize the best literary contributions by writers in 24 Indian languages
over three years.
As part of the
Hope Project, the Company organized the 4th “Samsung International Women’s Film
Festival” in association with INKO centre, Chennai during July 2011 in Chennai
showcasing 135 films from 51 countries.
The Company also
created ‘Samsung Innovation Quotient’ under the aegis of Samsung Hope Project
with CNBC, to recognize and promote innovations that benefit the Indian community
at large.
The Company also
set up two more Smile Twin e-Learning Program (STeP) centers in association
with Smile Foundation at Ahmedabad and Budge Budge, Kolkata. The STeP’s are
primarily designed to offer job oriented skills to youth from the less
privileged sections of the society living in urban slums and peripheral rural
areas. Under the program, training is imparted to these youth in basic
computers and retail sales management skills along with proficiency in spoken
and written English. With the setting up of two new e learning centers, the
Company now has four e-learning centers all over the country, including
Ghaziabad and Chennai.
The Company
continued with its support of the Olympic movement in India by becoming the
‘Official Partner of the Indian Contingent to the First ever Youth Olympic
Games 2010’, held in Singapore during August, 2010. The Company also became the
Sponsor of the Indian Contingent to the 16th Asian Games being held
at Guangzhou, China during November, 2010. Samsung also provided Scholarships
to top 10 ranking players across individual sporting disciplines to support
their training expenses. Boxer Vijender Singh Beniwal was conferred the
“Samsung Most Valued Performance Award” (MVP) with a reward of Rs. 0.250
Million worth of Samsung products. Samsung India also felicitated the Asian
Games medal winners from different sports disciplines both for their Individual
and Team performance by presenting them with Samsung products from the Consumer
Electronics and Mobile portfolio.
The Directors are
hopeful that the Company shall continue to make rapid strides towards its goal
of becoming a Top Electronics Company in the Indian market.
CONTINGENT LIABILITIES NOT PROVIDED FOR (AS ON
31.03.2011):
· Bank Guarantees
of Rs. 431.227 Millions (Previous year Rs.348.953 Millions)
· Corporate
Guarantees furnished to State Industries Promotion Corporation of Tamil Nadu
Limited towards Investment Promotion Subsidy.
· Performance Bond
of Rs.231.222 Millions (Previous year Rs. 167.003 Millions) furnished to the
Government of India under the EPCG Scheme.
· Claims against
the Company not acknowledged as debts
FIXED ASSETS:
·
·
Buildings
·
Leasehold Improvements
·
Plant and Machinery
·
Office Equipment
·
Computers
·
Furniture and Fixtures
·
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. 50.31 |
|
|
1 |
Rs. 79.04 |
|
Euro |
1 |
Rs. 65.82 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.