MIRA
INFORM REPORT
|
Report Date : |
10.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
HAZIRA LNG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101/ 103, Abhijeet- II, Mithakhali, Circle, Ahmedabad-380006, |
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|
Country : |
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|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
11.10.2000 |
|
|
|
|
Com. Reg. No.: |
04-38780 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7203.445
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100GJ2000PTC038780 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMH00868A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH9143C |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Distributor and Supplier of Natural Gas, Liquified Natural Gas
and Compressed Natural Gas. |
|
|
|
|
No. of Employees
: |
200 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 15900000 |
|
|
|
|
Status : |
Moderate |
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|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. It has
incurred loss during 2011. Accumulated losses recorded by the company has
increased slightly during this year. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. 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.
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.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Bhavik |
|
Designation : |
Accountant |
|
Contact No.: |
91-79-30011100 |
|
Date : |
08.09.2012 |
LOCATIONS
|
Registered Office : |
101/ 103, Abhijeet- II, Mithakhali, Circle, Ahmedabad-380006, |
|
Tel. No.: |
91-79-30011100 |
|
Fax No.: |
91-79-30011101 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
1001-1005, Ansal Tower, Nehru Place, New Delhi-110019,
India |
|
Tel. No.: |
91-11-26483003 / 26429249 / 26483004 |
|
Fax No.: |
91-11-26472341 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Virkam Singh Mehta |
|
Designation : |
Director |
|
Address : |
18, New Friends Colony, New Delhi – 110065, India |
|
Date of Birth/Age : |
30.10.1952 |
|
Date of Appointment : |
11.10.2000 |
|
Din No.: |
00041197 |
|
|
|
|
Name : |
Mr. Nitin C
Shukla |
|
Designation : |
Director |
|
Address : |
13, Basant Bahar,
|
|
Date of Birth/Age : |
14.04.1952 |
|
Date of Appointment : |
25.03.2002 |
|
Din No.: |
00041433 |
|
|
|
|
Name : |
Mr. Nicolas John Poulteney |
|
Designation : |
Director |
|
Address : |
75, Friends Colony, West, New Delhi – 110065, India |
|
Date of Birth/Age : |
04.06.1962 |
|
Date of Appointment : |
22.08.2009 |
|
Din No.: |
02769573 |
|
|
|
|
Name : |
Mr. Ate Sjoerd Visser |
|
Designation : |
Director |
|
Address : |
Koepelweg, 11, Noordwijjk, 2202AJ, |
|
Date of Birth/Age : |
04.10.1956 |
|
Date of Appointment : |
16.09.2009 |
|
Din No.: |
02810448 |
KEY EXECUTIVES
|
Name : |
Mr. Surit Mitra |
|
Designation : |
Company Sercretay |
|
Address : |
F-302, Tulip Citadel, B/H. Shreyas Foundation, Near Manekbaug Hall,
Ahmedabad – 380015, |
|
Date of Birth/Age : |
17.04.1964 |
|
Date of Appointment : |
09.12.2006 |
|
Pan No. : |
AGCPM2750R |
|
|
|
|
Name : |
Mr. Bhavik |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shell Gas BV, The Hague, Netherlands |
|
533054934 |
|
Total Gaz Electricite Holdings, |
|
187289571 |
|
B.V. Petroleum Assurantie Maatschappij |
|
1 |
|
|
|
|
|
TOTAL
|
|
720344506 |
AS ON 30.09.2011
|
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 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Distributor and Supplier of Natural Gas, Liquified Natural Gas
and Compressed Natural Gas. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
200 [Approximately] |
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Bankers : |
HDFC Bank, Mithakali Circle, Ahmedabad, Gujarat, India |
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Facilities : |
|
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|
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
Building 8, 7th and 8th Floor, Tower – B, DLF
Cyber City, Gurgaon-122002, Haryana, India |
|
Pan No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
Shell Gas BV, The Hague, Netherlands |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
870000000 |
Equity Shares |
Rs. 10/- each |
Rs.8700.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
720344506 |
Equity Shares |
Rs. 10/-
each |
Rs.7203.445
Millions |
NOTE:
(A) 870,000,000
(Previous Year 870,000,000) Equity shares of Rs.10/- each
(B) 720,344,506 (Previous
Year 720,344,506) Equity shares of Rs. 10/- each fully paid up.
[Of the above,
533,054,934 (Previous Year 533,054,934) Equity shares are held by Shell Gas
B.V., The Hague, Netherlands, the Holding Company and 187,289,571 (Previous Year
187,289,571) Equity shares are held by Total Gaz Electricite Holdings, France]
(C) 720,344,506
(Previous Year 720,344,506) Equity shares of Rs. 10/- each fully paid up.
[Of the above,
533,054,934 (Previous Year 533,054,934) Equity shares are held by Shell Gas
B.V., The Hague, Netherlands, the Holding Company and 187,289,571 (Previous
Year 187,289,571) Equity shares are held by Total Gaz Electricite Holdings,
France]
(D) 720,344,506
(Previous Year 720,344,506) Equity shares of Rs. 10/- each fully paid up.
[Of the above,
533,054,934 (Previous Year 533,054,934) Equity shares are held by Shell Gas
B.V., The Hague, Netherlands, the Holding Company and 187,289,571 (Previous
Year 187,289,571) Equity shares are held by Total Gaz Electricite Holdings,
France]
(E) 720,344,506
(Previous Year 720,344,506) Equity shares of Rs. 10/- each fully paid up.
[Of the above,
533,054,934 (Previous Year 533,054,934) Equity shares are held by Shell Gas
B.V., The Hague, Netherlands, the Holding Company and 187,289,571 (Previous
Year 187,289,571) Equity shares are held by Total Gaz Electricite Holdings,
France]
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 |
7203.445 |
7203.445 |
7203.445 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(3221.610) |
(3218.745) |
(4677.219) |
|
|
NETWORTH |
3981.835 |
3984.700 |
2526.226 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
12674.207 |
12782.553 |
14447.645 |
|
|
TOTAL BORROWING |
12674.207 |
12782.553 |
14447.645 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16656.042 |
16770.253 |
16973.871 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
10270.377 |
11273.064 |
12392.443 |
|
|
Capital work-in-progress |
50.983 |
33.342 |
19.412 |
|
|
|
|
|
|
|
|
INVESTMENT |
4000.000 |
5309.000 |
3401.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1865.502
|
1051.088
|
1817.670 |
|
|
Sundry Debtors |
1491.300
|
24.577
|
1907.617 |
|
|
Cash & Bank Balances |
30.308
|
28.768
|
15.260 |
|
|
Other Current Assets |
53.410
|
52.180
|
221.644 |
|
|
Loans & Advances |
41.307
|
23.864
|
38.652 |
|
Total
Current Assets |
3481.827
|
1180.477
|
4000.843 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1628.134
|
1013.383 |
2387.339 |
|
|
Other Current Liabilities |
492.770
|
25.016
|
464.162 |
|
|
Provisions |
1.715
|
1.556
|
2.201 |
|
Total
Current Liabilities |
2122.619
|
1039.955
|
2853.702 |
|
|
Net Current Assets |
1359.208
|
140.522
|
1147.141 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
9.274 |
11.325 |
13.375 |
|
|
Other Assets |
966.200 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16656.042 |
16767.253 |
16973.871 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
20179.546 |
62589.027 |
|
|
|
Other Income |
|
227.304 |
190.910 |
|
|
|
TOTAL (A) |
NA |
20406.850 |
62779.937 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
17516.293 |
57765.740 |
|
|
|
Operating and other expenses |
|
1376.876 |
2872.384 |
|
|
|
Personnel expenses |
|
245.861 |
236.312 |
|
|
|
Selling, Administration and other expenses |
|
236.436 |
134.148 |
|
|
|
Loss/(Gain) on foreign exchange fluctuation |
|
(1608.757) |
3601.424 |
|
|
|
Miscellaneous expenditure written off |
|
2.050 |
2.050 |
|
|
|
TOTAL (B) |
NA |
17768.759 |
64612.058 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
2638.091 |
(1832.121) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
10.140 |
35.875 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
2627.951 |
(1867.996) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1169.277 |
1316.253 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
NA |
1458.674 |
(3184.249) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.200 |
5.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(2.864) |
1458.474 |
(3189.372) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(4677.219) |
(1487.847) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(3218.745) |
(4677.219) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Support Services Rendered |
NA |
5.811 |
NA |
|
|
TOTAL EARNINGS |
NA |
5.811 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
7.963 |
94.956 |
|
|
|
Finished Goods-LNG |
NA |
16071.577 |
53619.441 |
|
|
|
Stores & Spares |
NA |
28.354 |
28.946 |
|
|
TOTAL IMPORTS |
NA |
16107.894 |
53743.343 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.01) |
2.02 |
(4.43) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
7.15
|
(5.08) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
7.23
|
5.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
11.71
|
(19.42) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.37
|
1.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.72
|
3.47
|
6.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.13
|
1.40 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
1628.134
|
1013.383 |
2387.339 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two 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 |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
ABOUT THE
ENVIRONMENT:
Natural gas demand
in India is growing at a brisk pace of 9-10 per cent a year, driven by environmental
concern and high oil prices. The bulk of additional demand is coming from
industry sectors like transportation, glass, ceramics and steel.
Indian industry
remains hamstrung by domestic gas shortages. India is heavily dependent on coal
to fire its power plants to meet the energy requirements of its industry. With
consensus building on fighting global warming. India is facing growing
international pressure to cut greenhouse emissions. By one estimate, the power
sector accounts for about 35 per cent of India's carbon emissions. India
Fertiliser plants running on naphtha will also find price attractive for
switching over to natural gas.
The Indian
domestic gas production of about 87 million metric standard cubic metre per day
(mmscmd) is not sufficient to meet the demand and there is a declining trend in
production volumes from new gas discoveries in the south eastern part of India.
This gap is projected to widen further in the years ahead with a growing
economy and a surging demand for fuel. By the government's own projections. gas
shortfall could be double its current production volumes by 2014.
India's
trillion-dollar economy is already the world's eighth largest importer to LNG
and according to certain global consultancy firms; those imports could rise as
much as five fold in the next decade. Accordingly. The Government is fast
tracking the buildup of India's pipeline network and significantly a major
share of this infrastructure activity is being led by Gujarat based companies
thereby providing a vital link for LNG companies of the state to link into the
gas grid of India.
The RIL- BP deal
is expected to stir the domestic market for LNG with the two Companies
intending to pump $10 billion or so in gas trading and marketing
infrastructure. This gives rise to a number of possibilities most likely being
LNG imports. The upcoming Kochi Terminal and the proposal for another one at
Ennore will provide additional capacities and open up the market for regasified
LNG.
ABOUT THE COMPANY:
The Company is poised
to reach a landmark figure of achieving 10 Million Lost Time Injury free man
hours and has also been awarded the Runners Up Shell India Country Chairman
Excellence Award for its HSE activities during the year. The Company has also
diversified into regasification activity which has constituted more than 25 %
of its volumes and has potential for further growth in the coming years. During
the year the Company has constructed a new laboratory building and maintenance
office. It has also installed and commissioned a state of the art Operator
Training Simulator to provide the technical officers with a close feel of the
actual operating conditions of a LNG Re gasification Control Room so that they
are in a better position to anticipate and be in control of live situations
Looking into the
demand prospects in the Indian Market and subject to requisite approvals from
the management. The Company is planning for expansion of its existing capacity
in a phased manner. As part of its corporate social responsibilities it is also
assisting in the dissemination of education in the oil and gas sector by
engaging with such petroleum universities in the state.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Income Tax Matters (Amount
deposited Rs. 2.000 Millions) |
68.074 |
50.519 |
|
Water Cess |
17.542 |
17.542 |
|
TOTAL |
85.616 |
68.061 |
(ii) Bank
Guarantees/bonds furnished by the Company in respect of Customs Duty aggregating
to Rs. 803.502 Millions (Previous Year Rs.578.903 Millions).
(iii) Estimated
amounts of contracts (Net of Capital Advances) remaining to be executed on
capital account and not provided for Rs. 76.020 Millions (Previous Year 29.290
Millions).
FIXED ASSETS:
- Software
- Land –
freehold
- Buildings and
roads
- Plant and
machinery
- Furniture and
fixtures
- Office
equipments
- Data
processing equipments
- 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.55.52 |
|
|
1 |
Rs.88.49 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
31 |
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.