MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNITECH MACHINES LIMITED |
|
|
|
|
Registered
Office : |
806, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.02.1986 |
|
|
|
|
Com. Reg. No.: |
55-023498 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 300.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300DL1986PLC023498 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELU02048E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU0313P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automotive Parts such as Lighting and Signals, Dies, Extension Rod, Piping and Boilers Parts, Jigs, Fixtures, Tank, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established and reputed company having a fine track
record. There appears slight dip in the profit during 2012. However, financial
position of the company appears to be sound. Trade relations are decent.
Payments are reported to be regular and as per commitments. The company can be considered good 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
A- (Long Term Rating) |
|
Rating Explanation |
High credit quality. |
|
Date |
20.06.2012 |
|
Rating Agency Name |
FITCH |
|
Rating |
A2+ (Short Term Debt) |
|
Rating Explanation |
Good intrinsic capacity for timely payment of financial commitment. |
|
Date |
20.06.2012 |
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 Office : |
806, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot No 35 P, Sector-44,
Gurgaon-122002, |
|
Tel. No.: |
91-124-
4326555 / 4326444 |
|
Fax No.: |
91-124-4326500/326400
/4326400/4326500 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
10th
K. M., |
|
Tel. No.: |
91-132-2760347 |
|
Fax No.: |
91-132-2760346 |
|
Tele Fax No.: |
91-1336246212-15 |
|
Area : |
4000 sq. mtrs |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Verinder Kumar Chhabra |
|
Designation : |
Director |
|
Address : |
60 Prakriti Marg, |
|
Date of Birth/Age : |
11.06.1949 |
|
Qualification : |
Diploma in Electrical Engineering |
|
Date of Appointment : |
28.02.1986 |
|
PAN No.: |
AADPC3635J |
|
Voter ID No.: |
YR12048882 |
|
DIN No.: |
00096937 |
|
|
|
|
Name : |
Mr. Sushant Chhabra |
|
Designation : |
Managing Director |
|
Address : |
60 Prakriti Marg, |
|
Date of Birth/Age : |
26.06.1974 |
|
Date of Appointment : |
03.09.2004 |
|
PAN No.: |
ABOPC3487A |
|
Voter ID No.: |
YR12048890 |
|
DIN No.: |
00096771 |
|
|
|
|
Name : |
Mr. Jatinder Kumar Mehta |
|
Designation : |
Managing Director |
|
Address : |
C -762 , New Friends Colony, |
|
Date of Birth/Age : |
11.04.1949 |
|
Date of Appointment : |
12.10.1990 |
|
DIN No.: |
00028207 |
|
|
|
|
Name : |
Mr. Arvind Kapoor |
|
Designation : |
Director |
|
Address : |
181-C, |
|
Date of Birth/Age : |
05.07.1950 |
|
Date of Appointment : |
23.10.1987 |
|
DIN No.: |
00096308 |
|
|
|
|
Name : |
Mrs. Nargis Malik |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
03.03.1942 |
|
Date of Appointment : |
08.12.2000 |
|
DIN No.: |
00146661 |
|
|
|
|
Name : |
Mr. Shashank
Bhagat |
|
Designation : |
Director |
|
Address : |
9, Link Road, Jangpura Extension, New Delhi-110014, India |
|
Date of Birth/Age : |
08.12.1954 |
|
Date of Appointment : |
19.06.2007 |
|
DIN No.: |
00254309 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Ramnani |
|
Designation : |
Company Secretary |
|
Address : |
D-44, 2nd
Floor, Naraina Vihar, New Delhi-110008, |
|
Date of Birth/Age : |
15.08.1968 |
|
Date of Appointment : |
16.06.2008 |
|
PAN No.: |
AEQPR3433N |
|
Voter ID No.: |
SMM0890483 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Verinder Kumar Chhabra |
11962622 |
|
Sushant Chhabra |
12059160 |
|
Bala Chhabra |
1153778 |
|
SAB Holdings ( |
2937240 |
|
Gessup Logistics
and Finance Private Limited, |
1880000 |
|
Jatender Kumar
Mehta |
1200 |
|
Mithlesh Kumar
Agnihotri |
1200 |
|
Surendra Pal
Saini |
1200 |
|
Satish KMAR Gupta |
1200 |
|
Suresh Shetty |
1200 |
|
Renu Munjal |
1200 |
|
TOTAL
|
30000000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
16.06 |
|
Directors or relatives of Directors |
83.92 |
|
Other top fifty shareholders |
0.02 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Parts such as Lighting and Signals, Dies, Extension Rod, Piping and Boilers Parts, Jigs, Fixtures, Tank, etc. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Wahi and Company Chartered Accountant |
|
Address : |
K-1, Kailash
Colony, New Delhi-110048, India |
|
PAN No.: |
AAAFW0375N |
|
|
|
|
Associates : |
Unitech Indraprastha TV Limited CIN No.:- U92132DL2002PLC116746 Unitech Software Solutions Limited CIN No.:- U72200DL1998PLC096636 UM Infratel Private Limited CIN No.:- U72200DL2000PTC106890 Trading Engineers International Limited CIN No.:- U74899DL1972PLC108312 ESS Enn Auto Tech Private Limited CIN No.:- U35999DL2008PTC178973 Techno Auto Components (India) Private Limited CIN No.:- U74899DL1995PTC072548 Techno Trexim (India) Private Limited CIN No.:- U51909DL1996PTC075727 Good-Day Foods Limited CIN No.:- U15209DL2003PLC121231 Alpha Toyo Limited CIN No.:- U74899DL1978PLC093797 Sab Holding India Private Limited CIN No.:- U74899DL1994PTC061511 Nikko Auto Limited CIN No.:- U74899DL1983PLC093808 Gessup Logistics and Finance Private Limited CIN No.:- U51909DL1994PTC061886 Instronics Limited CIN No.:- U65993DL1984PLC017728 UM Solar Power Private Limited CIN No.:- U40106DL2010PTC206775 Bee Cee Logistic Private Limited CIN No.:- U60200DL2010PTC202344 |
|
|
|
|
Subsidiaries : |
·
Unitech Machines FZC ·
UM Ventures (Mauritius) Private Limited UM Green
Lighting Private Limited CIN No.:-
U31500DL2010PTC210780 UM Power Limited CIN No.:-
U40106DL2010PLC210042 Alpha Maier
Private Limited CIN No.:-
U35990DL2010PTC202385 UM Corporate and
Management Services Private Limited CIN No.:-
U74140DL2005PTC138859 Unitech Nohmi
Fire Protection System Private Limited CIN No.:-
U45200HR2008FTC037878 |
|
|
|
|
Joint Ventures : |
Magneti Marelli
UM Electronic Systems Private Limited CIN No.:-
U32204HR2008PTC046212 Unitech Nohmi
Fire Protection System Private Limited CIN No.:-
U45200HR2008FTC037878 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000
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 |
300.000 |
300.000 |
300.000 |
|
|
2] Share Application Money |
200.000 |
200.000 |
145.500 |
|
|
3] Reserves & Surplus |
1040.999 |
920.688 |
810.275 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1540.999 |
1420.688 |
1255.775 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2550.075 |
2508.968 |
1779.987 |
|
|
2] Unsecured Loans |
1066.764 |
424.589 |
381.639 |
|
|
TOTAL BORROWING |
3616.839 |
2933.557 |
2161.626 |
|
|
DEFERRED TAX LIABILITIES |
196.019 |
159.098 |
122.504 |
|
|
|
|
|
|
|
|
TOTAL |
5353.857 |
4513.343 |
3539.905 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2069.370 |
1774.071 |
1535.645 |
|
|
Capital work-in-progress |
94.508 |
163.857 |
57.543 |
|
|
|
|
|
|
|
|
INVESTMENT |
320.894 |
228.236 |
143.889 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1390.511
|
1347.239 |
586.738 |
|
|
Sundry Debtors |
1891.590
|
1511.859 |
1867.362 |
|
|
Cash & Bank Balances |
126.643
|
146.000 |
137.042 |
|
|
Other Current Assets |
1071.059
|
965.124 |
0.000 |
|
|
Loans & Advances |
481.667
|
366.767 |
377.635 |
|
Total
Current Assets |
4961.470
|
4336.989 |
2968.777 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1615.049
|
1614.527 |
|
|
|
Other Current Liabilities |
336.184
|
233.574 |
1074.636 |
|
|
Provisions |
141.152
|
141.709 |
91.313 |
|
Total
Current Liabilities |
2092.385
|
1989.810 |
1165.949 |
|
|
Net Current Assets |
2869.085
|
2347.179 |
1802.828 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5353.857 |
4513.343 |
3539.905 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7579.048 |
6431.157 |
5663.777 |
|
|
|
Other Income |
20.395 |
63.475 |
15.185 |
|
|
|
TOTAL (A) |
7599.443 |
6494.632 |
5678.962 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3775.513 |
3055.666 |
|
|
|
|
Purchases of stock-in-trade |
1221.794 |
1284.322 |
|
|
|
|
Employee benefit expense |
312.987 |
309.025 |
|
|
|
|
Other expenses |
1513.417 |
1300.833 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(139.186) |
(209.544) |
|
|
|
|
TOTAL (B) |
6684.525 |
5740.302 |
4860.830 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
914.918 |
754.330 |
818.132 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
598.607 |
413.618 |
311.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
316.311 |
340.712 |
506.641 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
158.240 |
137.282 |
108.415 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
158.071 |
203.430 |
398.226 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
37.132 |
37.241 |
122.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
120.939 |
166.189 |
275.738 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.03 |
5.54 |
9.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.59
|
2.56 |
4.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.09
|
3.16 |
7.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.25
|
3.33 |
8.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.14 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.35
|
2.06 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.37
|
2.18 |
2.55 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loans Repayable on Demand from Banks |
418.518 |
62.963 |
|
Loans Repayable on Demand from Others |
648.246 |
361.626 |
|
|
|
|
|
TOTAL |
1066.764 |
424.589 |
NOTE
The Registered office address of the company has been shifted from Oshu
House 344/3, Lado Sarai, New Delhi, Delhi, India to present address w.e.f.
01.02.2008
OPERATIONS
The Company
achieved total income (turnover) of Rs. 7599.443 Millions during the year ended
31st March, 2012. The corresponding figure for the previous year was Rs.
6494.632 Millions reflecting an increase of 17.01% in the total income
(turnover) over the previous year figures.
The Company has
registered a decrease in the Profit after tax for the year from Rs. 166.189
Millions to Rs. 120.938 Millions reflecting a decline of 27.22% over previous
year’s profit. The Directors feel that this decrease in profit is temporary and
cyclic in nature and expects better results in future.
FORM 8
|
Corporate
identity number of the company |
U34300DL1986PLC023498 |
|
Name of the
company |
UNITECH MACHINES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
806, Devika Tower, 6 Nehru Place, New Delhi – 110 019, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Movable
property (not being pledge) |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement for
Loan and Guarantee. (Agreement Nos.:
3447576 / 3447578 / 3447579 / 3447581) (Rs.0.770
Million- X 4 Nos.) = Rs.3.080 Millions |
|
Date of
instrument Creating the charge |
15.02.2013 |
|
Amount secured by
the charge |
Rs. 3.080
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 10.52
% p.a. Terms of repayment The Loan is
repayable in 36 EMIs of Rs.100148/- (Rs. 0.025 Million X 4 Nos.) starting
from 5th January, 2013 ending on 5th December, 2015. Margin As may be
stipulated by bank from time to time. Extent and operation of the charge The Company
hypothecates to and charges in favour of the Bank by way of first and
exclusive charge of the Vehicle/ equipment described in Item No. 15 as
security for the repayment/payment by the company of the loan granted or to
be granted to the company by the Bank together with all fees, interest, costs
and expenses incurred/to be incurred by the Bank and all other monies payable
or to become payable by the company to the Bank. Other The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed against the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any
third party of the Bank's choice without reference to or without written
intimation to the company. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
4 Nos. Vehicle namely: TATA 709. (Year Of Manufacture: 2012) |
FIXED ASSETS
·
Land and Development
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Moulds and Dies
·
Office Equipments
·
Vehicles
·
Electrical Fittings
·
Cycle
·
Air Conditioner
·
Computers
·
Temporary Construction
·
Technical know-how
·
Computer Software
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. 54.88 |
|
|
1 |
Rs. 83.54 |
|
Euro |
1 |
Rs. 70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
55 |
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.