1. Summary Information
|
Country |
India |
||
|
Company Name |
HYUNDAI
CONSTRUCTION EQUIPMENT INDIA PRIVATE LIMITED |
Principal Name 1 |
Bosun Choi |
|
Status |
Moderate |
Principal Name 2 |
Ki Young Kong |
|
Registration # |
11-130553 |
||
|
Street Address |
Plot No. A-2, MIDC Chakan, Phase–II, Village Khalumbre, Pune-410501,
Maharashtra, India |
||
|
Established Date |
18.06.2007 |
SIC Code |
-- |
|
Telephone# |
91-2135-301700 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-2135-301712 / 301863 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Excavators |
|
|
# of employees |
400 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.2,584,364,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
HSBC Bank |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B
(36) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
Korea |
Hyundai Heavy
Industries Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,700,179,000 |
Current Liabilities |
4,023,153,000 |
|
Inventories |
2,915,686,000 |
Long-term Liabilities |
1,963,840,000 |
|
Fixed Assets |
2,059,357,000 |
Other Liabilities |
120,290,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
6,107,283,000 |
|
Invest& other Assets |
721,000 |
Retained Earnings |
0,000 |
|
|
0 |
Net Worth |
1,568,660,000 |
|
Total Assets |
7,675,943,000 |
Total Liab. & Equity |
7,675,943,000 |
|
Total Assets (Previous Year) |
6,078,246,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales/ Gross Income |
8,077,115,000 |
Net Profit |
(472,425,000) |
|
Sales(Previous yr)/ Gross Income |
5,470,263,000 |
Net Profit(Prev.yr) |
16,120,000 |
MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HYUNDAI CONSTRUCTION EQUIPMENT INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-2, MIDC Chakan, Phase–II, Village Khalumbre, Pune-410501,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.06.2007 |
|
|
|
|
Com. Reg. No.: |
11-130553 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2584.364
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400PN2007FTC130553 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEH05576E MUMH10638F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH8756Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Importer of Excavators. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Hyundai Heavy Industries
Company Limited”. It is a well established company having a moderate track record. There
appears huge accumulated losses recorded by the company. However, the capital base of the company seems to be strong. The
company gets good support from its group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered form business dealings with slight
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A (Long Term Rating) |
|
Rating Explanation |
Crisil has suspended its rating due to lack of information. |
|
Date |
November 2012 |
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 / Head Office / Factory : |
Plot No. A-2, MIDC Chakan, Phase–II, Village Khalumbre, Pune-410501,
Maharashtra, India |
|
Tel. No.: |
91-2135-301700 |
|
Fax No.: |
91-2135-301712 / 301863 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
50 Acre |
|
Location : |
Leased |
|
|
|
|
Regional Office : |
LOCATED AT:
|
DIRECTORS
As on: 29.09.2012
|
Name : |
Ki Young Kong |
|
Designation : |
Managing director |
|
Address : |
Hyundai Construction Equipment India Private Limited, Plot No. A-2,
MIDC Chakan, Phase–II, Village Khalumbre, Pune-410501, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1962 |
|
Qualification : |
Bachelor of Commerce |
|
Experience : |
23 Years |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
05158355 |
|
|
|
|
Name : |
Bosun Choi |
|
Designation : |
Director |
|
Address : |
1 Gang Seon Maul 1902-705 98, Juyeop-Dong I Sanseo-Gu, Gyeonaggi-Do, Goyang |
|
Date of Birth/Age : |
28.02.1966 |
|
Qualification : |
Business Administration |
|
Experience : |
23 Years |
|
Date of Appointment : |
17.06.2011 |
|
DIN No.: |
03553597 |
KEY EXECUTIVES
|
Name : |
Ms. Asawari Avinash Tilak |
|
Designation : |
Secretary |
|
Address : |
A-9, Ganga Lahari Society, Ganesh Nagar, Pune-411052, Maharashtra,
India |
|
Date of Birth/Age : |
01.03.1985 |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
AFSPT4547E |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hyundai Heavy Industries Company Limited,
Korea |
|
25843635 |
|
Ki Young Kong |
|
1 |
|
Total |
|
25843636 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
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, Trader and Importer of Excavators |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
400 (Approximately) |
|
|
|
|
Bankers : |
·
HSBC Bank, Ban Garden Road ·
Axis Bank |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B B S R and Company Chartered Accountants |
|
Address : |
703, Godrej Castlemaine,Next Toruby Hall Clinic, Bund Garden Road |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Holding Company: |
Hyundai Heavy Industries Company Limited,
Korea |
|
|
|
|
Fellow Subsidiary: |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26500000 |
Equity Shares |
Rs.100/- each |
Rs.2650.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25843636 |
Equity Shares |
Rs.100/-
each |
Rs.2584.364
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2584.364 |
2076.214 |
1718.478 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1015.704) |
(543.279) |
(559.399) |
|
|
NETWORTH |
1568.660 |
1532.935 |
1159.079 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1963.840 |
2038.518 |
1621.654 |
|
|
TOTAL BORROWING |
1963.840 |
2038.518 |
1621.654 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3532.500 |
3571.453 |
2780.733 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2059.357 |
1965.253 |
2013.271 |
|
|
Capital work-in-progress |
0.721 |
4.662 |
9.948 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2915.686
|
1902.754
|
1299.062
|
|
|
Sundry Debtors |
2011.762
|
1675.814
|
943.688
|
|
|
Cash & Bank Balances |
57.110
|
173.861
|
86.148
|
|
|
Other Current Assets |
84.278
|
1.956
|
2.326
|
|
|
Loans & Advances |
547.029
|
353.946
|
252.777
|
|
Total
Current Assets |
5615.865
|
4108.331
|
2584.001
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3692.201
|
2216.237
|
1730.021 |
|
|
Other Current Liabilities |
330.952
|
224.493
|
67.404
|
|
|
Provisions |
120.290
|
66.063
|
29.062
|
|
Total
Current Liabilities |
4143.443
|
2506.793
|
1826.487
|
|
|
Net Current Assets |
1472.422
|
1601.538
|
757.514
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3532.500 |
3571.453 |
2780.733 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
8077.115 |
5470.263 |
2757.288 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
183.400 |
254.945 |
27.448 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
132.813 |
125.407 |
149.666 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(472.425) |
16.120 |
(212.929) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(472.425) |
16.120 |
(212.929) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(543.278) |
(559.398) |
(346.469) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1015.703) |
(543.278) |
(559.398) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
NA |
1110.045 |
|
|
|
Prototype Material |
|
|
3.581 |
|
|
|
Capital Goods |
|
|
40.598 |
|
|
|
Consumables |
|
|
3.313 |
|
|
|
Trade Goods |
|
|
915.901 |
|
|
TOTAL IMPORTS |
NA |
NA |
2073.438 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(18.28) |
0.94 |
(12.39) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.85)
|
0.29 |
(7.72) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.16)
|
0.26 |
(4.63) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.30)
|
0.01
|
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.25
|
1.33
|
1.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
1.64
|
1.41 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
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 |
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 |
Yes |
PERFORMANCE OVERVIEW:
Hyundai Construction Equipment India Pvt. Ltd. a subsidiary of Hyundai Heavy Industries, Korea, has revolutionized the Construction Equipment business in India with its cutting edge technology in Excavator market and aims to be the market leader in terms of customer delight and market share. It has grown to a position of strength in 5 years since its inception in 2007 to an admirable and enviable player in the construction equipment industry.
Set up over a 50 acre land at Chakan near Pune in Maharashtra in a lush green surrounding with an initial investment of Rs. 300 crore in 2007, the state of the art manufacturing facility boasts of best in class technology, churning out world class products.
Hyundai in India has a wide range of Crawler, Wheeled
excavator in 8 tonne to 80 tonne and Wheel Loader SL730, SL 760, HL760 and
HL770 to suit every requirement and applications like irrigation, road construction,
mining or any other infrastructure development activities. Hyundai excavators
are equipped with various attachments like bucket, rock breaker, clamshell
bucket, etc. to cater the needs of various segments.
UNSECURED LOAN:
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWING |
|
|
|
Rupee term loans from banks |
16.657 |
|
|
Foreign currency term loans from banks |
141.787 |
|
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
1753.994 |
|
|
Loans repayable on demand |
51.402 |
|
|
Total |
1963.840 |
2038.518 |
AS PER WEBSITE DETAIL
PRESS RELEASE:
HCEIPL unveils 9
Series excavators in India
Hyundai Construction Equipment India Private Limited (HCEIPL), a subsidiary of Hyundai Heavy Industries, Korea, on Thursday launched its excavator series in India, ‘The 9 Series’ at their plant in Chakan, near Pune. The products launched under the 9 Series excavators are ‘Robex220’ and ‘Robex140’.
The 9 Series excavators provides stability, greater digging and crowd force along with advanced hydraulics for improved controllability and smoother operation in arduous conditions like quarries and mines. One of the unique features of the 9 Series excavator is the Data Download that enables customers to monitor progress of the excavator at site."
Commenting on this, Ki Young Kong, managing director said, "We have been closely observing the Indian market since 2007 which is an emerging and important market for us going through an exciting phase. The ‘9 Series Excavators’ caters to the growing need of the customers with higher technology adaptability. The new range of products has been launched in Europe and Australia and the response has been very encouraging there and we are hoping to see the same in India."
According to Dheeraj Panda, head marketing, HCEIPL the market the 20-22 tonne class of excavators captures 80 per cent of the total pie of the Indian market and the 14 tonne is amongst the fastest growing segment. With the launch of the Robex220 and Robex140 it aims to provide a wider option to our customers in both the key segments of excavators."
Set up in 2007 at Chakan, the company has invested Rs 3000.000 Millions in this facility. It has 27 sales and service dealers across India.
Hyundai Construction
Equipment India Sells 5000th excavator in India
(Published Date : Mon 06 Aug 2012)
Hyundai Construction Equipment India Pvt. Ltd. (HCEIPL), a subsidiary of Hyundai Heavy Industries, Korea, sold its 5000th excavator in the Indian market since year 2008. Hyundai commenced production of its excavators at Chakan plant in the year 2008 and since then have sold 5000th units of various tonnage. The 5,000 excavators that are sold in India comprise of models with various tonnage ranging from 8T to 80T and majority of them are of 20T category.
On achieving the milestone, Ki Young Kong, Managing Director said,
"Hyundai excavators cater to the growing need of the customers with higher
technology adaptability and our excavators add value and profit to customers.
Customers faith and confidence have been the major factor in Hyundai achieving
this milestone."
20T excavators have been the major contributor of sales in the entire number.
Versatility, adaptability and value for money have been the main factor behind
the number achievement. Hyundai also strives to be the market leader in terms
of customer support through its strong network of trained and qualified service
engineers, regional warehouses and a an equally strong team of dealerships
across India.
FIXED ASSETS:
- Plant and
Machinery
- Office
Equipment
- Computer
- 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 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 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.54.65 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
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 |
|
--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 |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.