1. Summary Information
|
|
|
Country |
|
|
Company Name |
FREUDENBERG NONWOVENS INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Bruce Robert Olson |
|
Status |
Good |
Principal Name 2 |
Mr. Alexander Karl Rozman |
|
|
|
Registration # |
18-078651 |
|
Street Address |
No.104, Poonamallee High Road, Opposite Sindhi College,
Vellappanchavadi, Chennai-600077, Tamilnadu, India |
||
|
Established Date |
30.03.1998 |
SIC Code |
-- |
|
Telephone# |
91-44-32512477 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-24715420 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Woven Products |
|
|
# of employees |
100
(Approximately) |
Product Name 2 |
Nonwoven Products |
|
Paid up capital |
Rs.24,000,000 |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings –
100.00 % |
Banking |
Dresdner
Bank AG |
|
Public Limited Corp. |
NO |
Business Period |
14 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(53) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow
Subsidiary |
Spain |
Freudenberg Far Eastern Spunweb Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
268,534,000 |
Current Liabilities |
186,214,000 |
|
Inventories |
80,716,000 |
Long-term Liabilities |
0 |
|
Fixed Assets |
28,776,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
186,214,0000 |
|
Invest& other Assets |
19,032,000 |
Retained Earnings |
186,844,000 |
|
|
|
Net Worth |
210,844,000 |
|
Total Assets |
397,058,000 |
Total Liab. & Equity |
397,058,000 |
|
Total Assets (Previous Year) |
338,941,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
508,008,000 |
Net Profit |
53,760,000 |
|
Sales(Previous yr) (Total Income) |
480,832,000 |
Net Profit(Prev.yr) |
45,982,000 |
MIRA
INFORM REPORT
|
Report Date : |
20.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
FREUDENBERG NONWOVENS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.104, Poonamallee High Road, Opposite Sindhi College,
Vellappanchavadi, Chennai-600077, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
30.03.1998 |
|
|
|
|
Com. Reg. No.: |
18-078651 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.24.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29197TN1998PTC078651 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CHEF03311A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of woven and non-woven products |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 843000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Subsidiary of Freudenberg Betelinus GMBH, Germany. It is
an established company having fine track record. Financial position of the company
is good. Trade relations are reported as fair. 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 – 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 : |
No.104, Poonamallee High Road, Opposite Sindhi College,
Vellappanchavadi, Chennai-600077, Tamilnadu, India |
|
Tel. No.: |
91-44-32512477 |
|
Fax No.: |
91-44-24715420 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
200, Sai Sampanna, |
|
E-Mail Id : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
No. 4/14, |
|
Tel. No.: |
91-44-24715421 |
|
Fax No.: |
91-44-24715420 |
|
|
|
|
Factory 1 : |
A – 324, TTC Industrial Area, Atul Raje, Thane – Belapur Road, Mahape,
Navi Mumbai - 400 701, Maharashtra, India |
|
Tel. No.: |
91-22-5797394 / 97 |
|
Fax No.: |
91-22-5797398 |
|
E-Mail : |
|
|
|
|
|
Factory 2 / Sales Office 1 : |
Freudenberg Nonwoven India Private Limited, New # 78/2 (Old # 80/2),
IV th Avenue, Ashok Nagar, Chennai-600083, Tamilnadu, India |
|
Tel. No.: |
91-44-24715420 |
|
Fax No.: |
91-44-24715421 |
|
|
|
|
Sales Office 2 : |
Eagle Seals and Systems India Limited, Burgmann India Private Limited,
No.5, Mahalinga chetty, II nd Cross Street, Mahalingapuram, Chennai-600034,
Tamilnadu, India |
|
Tel. No.: |
91-44-28172203 / 28170140 / 28170649 |
|
Fax No.: |
91-44-28172884 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office 3 : |
Sigma Freudenberg NOK Private Limited, Simrit Service Centre, Chennai
Regional Sales Office, (North Boag Road), T. Nagar, Old No.3, New No.9, B. N.
Reddy Road, Chennai-600017, Tamilnadu, India |
|
Tel. No.: |
91-44-28155935 |
|
Fax No.: |
91-44-28154638 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office 4 : |
KE-Burgmann Flexibles India Private Limited, 194, Nagappa Industrial Estate,
G. N. T. Road, Puzhal, Chennai-600066, Tamilnadu, India |
|
Tel. No.: |
91-446590632 / 6590634 |
|
Fax No.: |
91-44-6590917 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Bruce Olson Robert |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
K-142, Sena Vihar, Kammanhalli Mani Road, Bangalore-560043, Karnataka,
India |
||||||||||||||||||
|
Date of Appointment : |
31.12.2007 |
||||||||||||||||||
|
DIN No.: |
02186935 |
||||||||||||||||||
|
Other Directorship: |
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Alexander Karl Rozman |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
House 15L (DD 219 LOT 270), Hing Keng Shek, Sai Kung, New Territories,
Hong Kong-999999 |
||||||||||||||||||
|
Date of Appointment : |
30.09.2009 |
||||||||||||||||||
|
DIN No.: |
02707273 |
||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Sivasailam Gunasekaran |
||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||
|
Address : |
F-3, Land Marvel, No-9, Kalakshetra Road, Thiruvanmiyur,
Chennai-600041, India |
||||||||||||||||||
|
Date of Appointment : |
03.11.2010 |
||||||||||||||||||
|
DIN No.: |
02744313 |
||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Freudenberg Beteiligungs GMBH, Germany |
|
1999999 |
|
Freudenberg Beteiligungs GmbH (Partly Paid Up) (Germany) |
|
4000000 |
|
Externa Handels-UND Beteiligungsgesellschaft MIT Beschrankter Haftung,
Germany |
|
1 |
|
Total |
|
6000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
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 woven and non-woven products |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
Dresdner Bank AG, Nariman Point, Mumbai 400 021, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and Associate Chartered Accountants |
|
Address : |
2nd Floor, TPL House, No.3, Cenotaph Road, Teynampet,
Chennai-600018, India |
|
Tel. No.: |
91-44-66328400 |
|
Fax No.: |
91-44-24311450 |
|
PAN No.: |
AACFS6921Q |
|
|
|
|
Holding Company: |
Freudenberg Beteiligungs GmbH |
|
|
|
|
Fellow Subsidiaries: |
·
Freudenberg Vliesstiffe KG, Germany ·
Freudenberg Far Eastern Spunweb Company Limited,
Taiwan ·
Freudenberg Eapana S.A, Spain ·
Freudenberg Evolon KG, Germany ·
Freudenberg Evolon S.A.R.L., Germany ·
Freudenberg and Vilene International Limited,
Hong Kong ·
Freudenberg and Vilene Interlinings (Nantong)
Company Limited, China ·
Freudenberg and Vilene Nonwovens (Taiwan) Company
Limited, Taiwan ·
Freudenberg Nao Tecidos Ltda and Cia ·
Freudenberg Nonwovens (Pty) Limited, South Africa ·
Freudenberg Nonwovens LP, USA ·
Japan Vilene Company Limited, Japan ·
Korea Velene Company Limited, Korea ·
Freudenberg Vliesstoffe Service KG, Germany ·
Freudenberg Filtration Technologies KG, Germany ·
Freudenberg Filtration Technologies India Private
Limited, India ·
Freudenberg and Company, Germany ·
Freudenberg and Vilene Nonwovens (Suzhou) Company
Limited, China |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
Millions |
|
|
|
|
|
Issued, Subscribed, Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares (Fully paid up)* |
Rs.10/- each |
Rs.20.000
Millions |
|
4000000 |
Equity Shares (Re. 1 paid up) # |
Re.1/- each |
Rs.4.0000
Millions |
|
|
Total |
|
Rs.24.000
Millions |
Note:
Out of above:
* (Of the above 1999999 (Previous year –
1,999,999) equity shares of Rs.10 each, fully called up are held by Freudenberg
Beteiligungs Gmbh, Germany, the holding company and 1 equity share of Rs.10,
fully called up is held by Externa Handels-und Beteiligungsgesellschaft mit
beschrankter Haftung, Germany (Previous year: One share held by Asto
Beteiligungs, GMBH))
# (Of th above 4000000 (Previous year -
4000000) equity shares of Rs.10 each, Re.1 called up are held by Freudenberg
Beteiligungs Gmbh, Germany, the holding company)
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 |
24.000 |
24.000 |
24.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
186.844 |
133.081 |
87.101 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
210.844 |
157.081 |
111.101 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
104.569 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
104.569 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
210.844 |
157.081 |
215.670 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.776 |
35.869 |
49.255 |
|
|
Capital work-in-progress |
1.530 |
1.161 |
1.675 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
17.502 |
19.318 |
17.573 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
80.716
|
73.105
|
82.891
|
|
|
Sundry Debtors |
104.648
|
95.981
|
163.624
|
|
|
Cash & Bank Balances |
38.031
|
14.831
|
67.289
|
|
|
Other Current Assets |
0.000
|
0.000
|
2.456
|
|
|
Loans & Advances |
125.855
|
98.676
|
75.910
|
|
Total
Current Assets |
349.250
|
282.593
|
392.170
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors & Other Current Liabilities |
97.803
|
124.717
|
211.828
|
|
|
Provisions |
88.411
|
57.143
|
33.175
|
|
Total
Current Liabilities |
186.214
|
181.860
|
245.003
|
|
|
Net Current Assets |
163.036
|
100.733
|
147.167
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
210.844 |
157.081 |
215.670 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
508.008 |
|
N.A |
|
|
|
Other Income |
N.A |
|
N.A |
|
|
|
TOTAL |
N.A |
480.833 |
N.A |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
455.460 |
411.507 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
455.460 |
411.507 |
N.A |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
87.572 |
69.325 |
N.A |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.812 |
23.343 |
N.A |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
53.760 |
45.982 |
N.A |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
2.830 |
9.877 |
28.746 |
|
|
|
Business loss reimbursement |
24.823 |
21.964 |
23.927 |
|
|
TOTAL EARNINGS |
27.653 |
31.841 |
52.673 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
59.305 |
86.358 |
145.776 |
|
|
|
Traded goods |
138.375 |
82.358 |
0.490 |
|
|
|
Capital Goods |
0.972 |
0.018 |
86.268 |
|
|
TOTAL IMPORTS |
198.652 |
168.734 |
232.534 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.40 |
19.15 |
N.A |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
N.A
|
9.56 |
N.A |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.24
|
N.A |
N.A |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.17
|
21.77 |
N.A |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.44 |
N.A |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.88
|
1.16 |
3.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.55 |
1.60 |
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
two years |
Yes |
|
12] |
Profitability for last
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------ |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
------ |
|
22] |
Litigations that the firm
/ promoter involved in |
------ |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
Note:
The Registered office of the company has been shifted from 200, Sai
Sampanna, Station Road, Vikhroli (East),
Mumbai-400083, Maharashtra, India to the present address w.e.f.
29.11.2010
BACKGROUND:
Subject was incorporated on March 30, 1998
under the Companies Act, 1956 (‘the Act’). The Company is a subsidiary of
Freudenberg Beteiligungs GmbH (‘FBG’) which is a 100% subsidiary of Freudenberg
and Company Germany (F and Company), a limited partnership. The Company’s
principal activities comprise of trading and manufacturing of woven and
non-woven products.
FIXED ASSETS:
·
Leasehold Improvements
·
Plant and Machinery
·
Furniture
·
Office Equipments
·
Computers
·
Motor Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.26 |
|
|
1 |
Rs.88.15 |
|
Euro |
1 |
Rs.71.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.