MIRA
INFORM REPORT
|
Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
CPS COLOR INDIA PRIVATE LIMITED (w.e.f. 07.10.2004) |
|
|
|
|
Formerly Known
As : |
COROB INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
158, Dani Wooltex Compund, Vidyanagri Marg, CST Road, Kalina,
Santacruz (East), Mumbai – 400098, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
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Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.02.1998 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.15.000 Millions |
|
|
|
|
Com. Reg. No.: |
11-113726 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29290MH1998PTC113726 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Tinting and Dispensing Machines, Shakers /
Mixers Machines and Colorants |
|
|
|
|
No. of Employees
: |
Not Available |
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 10000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. However, in the year 2010-2011
company performance has been good. 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 caution.
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
158, Dani Wooltex Compund, Vidyanagri Marg, CST Road, Kalina,
Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-66497777 |
|
Fax No.: |
91-22-66497700 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Leased |
|
|
|
|
Head Office : |
Cabin No. A, First Floor, Plot No.10-13 and 13-A, Goa 1DC, |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Timo Tapani Linna |
|
Designation : |
Director |
|
Address : |
Runeberginkatu 4cb 31 |
|
Date of Birth/Age : |
12.03.1956 |
|
Date of Appointment : |
23.11.2006 |
|
DIN No.: |
01342559 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29290MH1998PTC113726 |
CPS COLOR
INDIA PRIVATE LIMITED |
Director |
23/11/2006 |
23/11/2006 |
Active |
NO |
|
2 |
U24117MH2001PTC131025 |
COLORWORLD
SOLUTIONS PRIVATE LIMITED |
Director |
23/11/2006 |
23/11/2006 |
Active |
NO |
|
Name : |
Nils Henrik Lif |
|
Designation : |
Director |
|
Address : |
Vartavagen 8A, 183 63, Taby, Sweden |
|
Date of Appointment : |
15.02.2011 |
|
DIN No.: |
03411847 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24117MH2001PTC131025 |
COLORWORLD
SOLUTIONS PRIVATE LIMITED |
Director |
29/09/2011 |
15/02/2011 |
Active |
NO |
|
2 |
U29290MH1998PTC113726 |
CPS
COLOR INDIA PRIVATE LIMITED |
Director |
29/09/2011 |
15/02/2011 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
|
|
|
CPS Color Equipment SPA, |
1499999 |
|
CPS Machine Group of Finland, Finland |
1 |
|
TOTAL |
1500000 |
AS ON 29.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Tinting and Dispensing Machines, Shakers / Mixers
Machines and Colorants |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Tinting and Dispensing Machines and Shaker/ Mixer Machines |
Nos. |
NA |
28000 |
6524 |
|
Canister Circuits |
Nos. |
NA |
7272 |
|
|
Upgradation Kit |
Nos. |
NA |
24654 |
Note: * As certified by the Management.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
HSBC Bank, Santacruz Branch, Mumbai Citi Bank, Bandra Kurla Complex, G - Block, Bandra (East), Mumbai - 51 |
||||||||||||
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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, |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Holding Company : |
CPS Color Equipment S.P.A |
|
|
|
|
Fellow Subsidiaries : |
· Cidron Speccolor AB · CPS Color Group Oy · CPS Color Oy · CPS Color B.V. · CPS Color GmbH · CPS Color Ltda · CPS Color Pty Limited · CPS Color (Shanghai) Co Limited · CPS Color Invest Oy · CPS Color Holding BV · OOO CPS Color · CPS Color Trading (Shanghai) Co Limited · CPS Color Equipment Oy · CPS Color Equipment S.p.A · CPS Color S.A. · Corob LTDA (under liquidation) · CPS Color Scandinavia AB · CPS Color Equipment Inc. · CPS Color Holding Oy · Colorworld Solutions Private Limited · Lenteq Industries B.V. ·
CPS Color Equipment SA (under liquidation) |
CAPITAL STRUCTURE
After 29.09.2011
Authorised Capital : Rs.600.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.437.096 Millions
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10 each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs. 10 each |
Rs.15.000
millions |
|
|
|
|
|
NOTE:
Of the above 1499999 equity shares are held by
CPS Color Equipment S.P.A,
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 |
15.000 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(12.422) |
(21.756) |
(0.085) |
|
|
NETWORTH |
2.578 |
(6.756) |
14.915 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
51.676 |
51.208 |
20.144 |
|
|
TOTAL BORROWING |
51.676 |
51.208 |
20.144 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.254 |
44.452 |
35.059 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
74.775 |
75.933 |
75.858 |
|
|
Capital work-in-progress |
1.537 |
0.378 |
0.177 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
277.625
|
179.252 |
143.289 |
|
|
Sundry Debtors |
292.291
|
254.847 |
192.697 |
|
|
Cash & Bank Balances |
56.592
|
68.461 |
85.929 |
|
|
Other Current Assets |
0.289
|
0.120 |
0.000 |
|
|
Loans & Advances |
133.746
|
113.774 |
99.833 |
|
Total
Current Assets |
760.543
|
616.454 |
521.748 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
760.916
|
634.488 |
554.508 |
|
|
Other Current Liabilities |
8.517
|
4.897 |
4.051 |
|
|
Provisions |
13.168
|
8.928 |
4.165 |
|
Total
Current Liabilities |
782.601
|
648.313 |
562.724 |
|
|
Net Current Assets |
(22.058)
|
(31.859) |
(40.976) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.254 |
44.452 |
35.059 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.3.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
989.560 |
726.306 |
559.052 |
|
|
|
Service Income |
90.305 |
14.208 |
0.000 |
|
|
|
Other Income |
8.884 |
34.453 |
6.084 |
|
|
|
TOTAL (A) |
1088.749 |
774.967 |
565.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Trading and other direct expenses |
|
615.482 |
470.920 |
|
|
|
Administrative and other Expenses |
|
160.767 |
113.039 |
|
|
|
TOTAL (B) |
1065.891 (Including
Financial Expenses) |
776.249 |
583.959 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(1.282) |
(18.823) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
7.456 |
12.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
22.858 |
(8.738) |
(31.135) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.325 |
12.933 |
13.304 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F)
(G) |
9.533 |
(21.671) |
(44.439) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
9.533 |
(21.671) |
(45.391) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(21.756) |
(0.085) |
38.826 |
|
|
|
|
|
|
|
|
|
Add |
Transfer from
General Reserve |
0.000 |
0.000 |
6.480 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(12.223) |
(21.756) |
(0.085) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
698.796 |
498.288 |
398.815 |
|
|
|
Service Income |
23.834 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
722.630 |
498.288 |
398.815 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials/components |
197.820 |
191.530 |
87.384 |
|
|
|
Machinery for trading |
6.030 |
3.196 |
2.777 |
|
|
|
Colorants |
19.610 |
11.797 |
10.358 |
|
|
|
Capital Goods |
0.688 |
2.021 |
0.000 |
|
|
TOTAL IMPORTS |
224.148 |
208.544 |
100.519 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.36 |
(14.00) |
(30.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.3.2009 |
|
PAT / Total Income |
(%) |
0.88
|
(2.80) |
(8.03) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.96
|
(2.98) |
(7.95) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.14
|
(3.13) |
(7.44) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.70
|
3.21 |
(2.98) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
323.61
|
(103.54) |
39.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
0.95 |
0.93 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
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 |
No |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATIONS
Improvement in the results as compared to previous year which is mainly due to increase in sales and service income. This is in spite of net foreign exchange loss of Rs. 34.482 Millions, inventory write off of Rs. 18.759 Millions due to discontinuance of products and increase in all other costs due to increased sales and business activities. This increase has been compensated by reduction in management fee charged by CPS Group of Rs. 8.553 Millions as compared to last year.
Sales has increased from Rs. 740.514 Millions in the previous year to Rs. 1079.865 Millions in the current year, which is mainly due to sales growth in Asia Pacific Region and Latin America. Further, during the year, the company is also started with new CPS Group R and D Colorants and Equipment projects in India resulting in additional revenue.
BACKGROUND
Subject earlier known as Corob India Private Limited (‘CPS’ or ‘the Company’) is a subsidiary of CPS Color Equipment S.p.A (formerly Corob S.p.A.), Italy setup in terms of FIPB approval bearing Ref. FC.II. 152(98)/111(98) dated April 7, 1998, and subsequent amendment dated August 4, 1998, March 26, 1999 and July 6, 2004.
The Company is engaged in the manufacture and sale of automatic tinting and dispensing machines and shaker mixers and trading in shaker mixers and colorants, at its factory located at Daman. The Company is also engaged in the business of servicing automatic tinting and dispensing machines and shaker mixers. These machines are widely used for dispensing of colours in the paint industry.
CONTINGENT
LIABILITY
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Outstanding financial bank guarantees |
0.000 |
0.200 |
|
Estimated sales tax liability in case of non-collection / non-submission of sales tax forms for availing concessional sales tax is to the extent |
7.163 |
5.877 |
FIXED ASSETS
- Leasehold Land
- Leasehold Improvement
- Buildings
- Plant and Machinery
- Electric Installation
- Office Equipments
- Furniture and Fixtures
- Vehicles
- Computers
WEBSITE DETAILS
PROFILE
Subject is the only major supplier of integrated tinting solutions. The broad knowledge of tinting not only translates into our top quality CPSCOLOR™ colorants, but also into COROB™ dispensing and mixing equipment, software, colour marketing tools, an extended global service network and customer support.The worldwide colour solution means maximum integration. Each tinting solution element is very powerful on its own, but at its full strength in combination with the other components.
Subject provides tinting system components for a wide variety of customers such as paint manufacturers, retail chains, leather and plastics producers as well as paint shops via paint manufacturers.
HISTORY
Subject was established in 2000. It has roots in three pioneering companies: Tikkurila-CPS, Winter Bouts and Corob. The development of our tinting concepts dates back to the 1960’s. Hence, CPS Color has over 40 years experience in tinting business.
Subject is owned by Nordic Capital.
NEWS
“The continued receipt of this 1 st place award proves our
unwavering commitment to quality and customer service. CPS Color’s industry
leading practices and programs maximize solutions that translate into increased
profitability for our customers,” said Reubens Da Cunha, general manager of CPS
Color in
A 2 nd place win was also awarded to CPS Color in the category of “tintometric system – colorants” with 30.46% of the votes. This is just a hair under our biggest competitor in this category. CPS is proving to be an increasingly fierce competitor in the colorant area and notably securing more and more votes each year. CPS Color has its eye on 1 st place in this same category in coming years.
“These awards only make us work harder to exceed the needs and expectations of our customers. We are quickly proving to be the preferred supplier of Latin American professionals,” notes Da Cunha.
Winners are selected based on the answers of industry professionals who are polled from paint companies within specified regions regarding the best supplier in 37 different categories.
About CPS Color
CPS Color is the world’s leading supplier of advanced color solutions for the global paints and coatings industry. CPS Color offers a complete array of coloring solutions for paint professionals.
Business enhancing products include: CPSCOLOR TM colorants (liquid pigments), COROB TM dispensing and mixing/shaking equipment, software and color marketing tools. All products are backed by excellent customer support and superior service.
CPS Color Group is a global organization, employing 811 color professionals, with operations on six continents. The Group's 2009 revenue amounted to EUR 155 million.
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 errorist 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.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
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 |
|
NO |
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.