1. Summary Information
|
|
|
Country |
India |
|
Company Name |
POSCO INDIA
DELHI STEEL PROCESSING CENTRE PRIVATE LIMITED |
Principal Name 1 |
Gil Ho Bang |
|
Status |
Satisfactory |
Principal Name 2 |
Dae Ho Shin |
|
|
|
Registration # |
05-041978 |
|
Street Address |
Plot No.193, Sector 4, HSIIDC, Bawal-123501, Haryana |
||
|
Established Date |
18.01.2007 |
SIC Code |
-- |
|
Telephone# |
91-1284-308342 / 308300 |
Business Style 1 |
Processing |
|
Fax # |
91-1284-308343 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Steel Coils |
|
|
# of employees |
90 (Approximately) |
Product Name 2 |
Sheets |
|
Paid up capital |
Rs.777,362,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings
100.00% |
Banking |
Shinhan Bank |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (42) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
South Korea |
POSCO Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,879,224,000 |
Current Liabilities |
1,438,175,000 |
|
Inventories |
1,976,430,000 |
Long-term Liabilities |
2,038,169,000 |
|
Fixed Assets |
712,673,000 |
Other Liabilities |
47,954,000 |
|
Deferred Assets |
53,118,000 |
Total Liabilities |
3,524,298,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
319,785,000 |
|
|
|
Net Worth |
1,097,147,000 |
|
Total Assets |
4,621,445,000 |
Total Liab. & Equity |
4,621,445,000 |
|
Total Assets (Previous Year) |
3,708,443,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales/ Total Income |
5,624,998,000 |
Net Profit |
(181,617,000) |
|
Sales(Previous yr)/ Total Income |
5,063,087,000 |
Net Profit(Prev.yr) |
269,003,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
POSCO INDIA DELHI STEEL PROCESSING CENTRE PRIVATE LIMITED
(w.e.f.29.04.2008) |
|
|
|
|
Formerly Known
As : |
POSS DELHI STEEL PROCESSING CENTRE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No.193, Sector 4, HSIIDC, Bawal-123501, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
18.01.2007 |
|
|
|
|
Com. Reg. No.: |
05-041978 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.777.362
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27310HR2007PTC041978 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
The Company is into the business of processing of steel coils/ sheets
for automotive, home appliances and others steel consuming industries. |
|
|
|
|
No. of Employees
: |
90 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4380000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Posco” Korea. It is a well established company having a satisfactory track record.
There appears loss during the current year. However, networth of the company appears to be strong. The company
gets strong financial support from its holding company. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. In view of experience promoters, the company can be considered normal
for business dealings at usual trade terms and condition. |
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 |
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: |
Plot No.193, Sector 4, HSIIDC, Bawal-123501, Haryana, India |
|
Tel No.: |
91-1284-308342 / 308300 |
|
Fax No.: |
91-1284-308343 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate / Marketing Office: |
10th Floor, BPTP Park Centra Building Sector 30, Gurgaon-122002,
Haryana, India |
|
Tel No.: |
91-124-4164200 |
|
Fax No.: |
91-124-4164209 |
|
|
|
|
Factory : |
Suite No. 445, Ashok Hotel, Chanakyapuri, New Delhi-110021, India |
|
Tel No.: |
91-11-24673680 |
|
Mobile No. : |
91-9810238282 (Mr. Doh Moo Sang) |
|
Fax No.: |
91-11-24673688 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Gil Ho Bang |
|
Designation : |
Chairman |
|
Address: |
Tower 5 Apartment, 14B, Central Park 2, Sohna Road, Gurgaon-122002,
Haryana, India |
|
Date of Birth/Age : |
13.07.1961 |
|
Date of Appointment : |
20.06.2011 |
|
|
|
|
Name : |
Dae Ho Shin |
|
Designation : |
Whole Time Director |
|
Address : |
|
|
Date of Birth/Age : |
02.02.1970 |
|
Date of Appointment : |
31.07.2010 |
|
DIN No.: |
03147809 |
|
|
|
|
Name : |
Choi Ho Kun |
|
Designation : |
Director |
|
Address : |
B-2, 2nd Floor, Meera Cooperative Suit, Plot NO.1 and 2,
Ishwar Nagar, Mathura Road, New Delhi – 110065, Delhi, India |
|
Date of Birth/Age : |
04.11.1967 |
|
Date of Appointment : |
29.11.2010 |
|
DIN No.: |
03348479 |
|
|
|
|
Name : |
Kim Jeoungsu |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
01.11.1963 |
|
Date of Appointment : |
01.09.2010 |
|
DIN No.: |
03294568 |
KEY EXECUTIVES
|
Name : |
Mr. Pravin Kumar Chourasia |
|
Designation : |
Secretary |
|
Address : |
213, Sector 31, GUrgaon – 122001, |
|
Date of Birth/Age : |
17.04.1975 |
|
Date of Appointment : |
11.11.2009 |
|
Pan No.: |
AGYPC4200C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Posco Company Limited, |
|
51616843 |
|
Shinhan |
|
3806810 |
|
Samsung Corporation Company Limited, |
|
14458935 |
|
Posco South Asia Company Limited, Bangkok |
|
7773621 |
|
|
|
|
|
TOTAL
|
|
77736209 |
AS ON 29.09.2012
|
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 : |
The Company is into the business of processing of steel coils/ sheets
for automotive, home appliances and others steel consuming industries. |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Cold Rolled Steel, Hot Rolled Steel and Stainless Steel |
MT |
100000 |
100000 |
82174 |
GENERAL INFORMATION
|
No. of Employees : |
90 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Shinhan Bank, Upper Ground Floor, Mercantile House, 15, Kasturba
Gandhi Marg, New Delhi-110001, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
Golf View Corporate Tower, Sector 42, Sector Road, Gurgaon-122002,
Haryana, India |
|
PAN No: |
ABSFS4151K |
|
|
|
|
Holding Company : |
POSCO Company Limited, South Korea |
|
|
|
|
Fellow Subsidiaries : |
·
Posco Maharashtra Steel Private Limited
[U27100MH2009PTC190873] ·
POSCO- India Pune Processing Center Private
Limited [U27107PN2005PTC021580] ·
Posco Asia Company Limited ·
Posco India Chennai Steel Processing Centre
Private Limited [U27100TN2009PTC071238] ·
Posco Investment Company Limited ·
Posco South Asia Company Limited ·
Posco-India Private Limited
[U27104OR2005PTC008316] ·
Posco ICT Company Limited ·
Posco Investment Company Limited ·
Posco Processing and Service Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
77800000 |
Equity Shares |
Rs.10/- each |
Rs.778.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
77736209 |
Equity Shares |
Rs.10/- each
|
Rs.777.362
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 |
777.362 |
556.740 |
556.740 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
319.785 |
247.024 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(21.979) |
|
|
NETWORTH |
1097.147 |
803.764 |
534.761 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2038.169 |
1742.264 |
1475.666 |
|
|
TOTAL BORROWING |
2038.169 |
1742.264 |
1475.666 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
31.913 |
4.511 |
|
|
|
|
|
|
|
|
TOTAL |
3135.316 |
2577.941 |
2014.938 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
712.673 |
748.233 |
611.467 |
|
|
Capital work-in-progress |
0.000 |
2.599 |
40.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
53.118 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1976.430
|
1618.750
|
836.339
|
|
|
Sundry Debtors |
883.983
|
722.041
|
459.559
|
|
|
Cash & Bank Balances |
525.062
|
186.228
|
335.490
|
|
|
Other Current Assets |
9.298
|
1.774
|
2.414
|
|
|
Loans & Advances |
460.881
|
428.818
|
328.594
|
|
Total
Current Assets |
3855.654
|
2957.611
|
1962.396
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1389.101
|
323.145
|
222.508
|
|
|
Other Current Liabilities |
49.074
|
715.893
|
375.072
|
|
|
Provisions |
47.954
|
91.464
|
1.545
|
|
Total
Current Liabilities |
1486.129
|
1130.502
|
599.125
|
|
|
Net Current Assets |
2369.525
|
1827.109
|
1363.271
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3135.316 |
2577.941 |
2014.938 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
5063.087 |
3367.531 |
|
|
|
Other Income |
|
|
232.000 |
|
|
|
TOTAL (A) |
5624.998 |
5063.087 |
3599.531 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and other direct costs |
|
|
3020.699 |
|
|
|
Personnel Expenses |
|
|
67.619 |
|
|
|
Administrative and other Expenses |
5836.526 |
4610.376 |
53.947 |
|
|
|
Selling and distribution Expenses |
|
|
57.571 |
|
|
|
Increase / Decrease in stock |
|
|
(7.171) |
|
|
|
TOTAL (B) |
5836.526 |
4610.376 |
3192.665 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(211.528) |
452.711 |
406.866 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
52.936 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(211.528) |
452.711 |
353.930 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
57.952 |
45.530 |
34.234 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(269.480) |
407.181 |
319.696 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(87.863) |
138.178 |
4.511 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(181.617) |
269.003 |
315.185 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(21.979) |
(337.164) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
247.024 |
(21.979) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.23) |
4.83 |
5.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(3.23)
|
5.31
|
8.76
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
9.49
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.90)
|
10.98
|
12.42
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.25)
|
0.50
|
0.60
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.85
|
2.17
|
2.75
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.59
|
2.61
|
3.28
|
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 |
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] |
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 |
NATURE OF
OPERATIONS:
Subject was
incorporated on January 18, 2007 and commenced its commercial operations from
January 2008. The Company is into the business of processing of steel coils/
sheets for automotive, home appliances and others steel consuming industries.
During the year, the Company has also started TWB (Tailor Wielded Blanks) lines
as manufacturing activity.
REVIEW OF OPERATION:
The Company has
achieved turnover of Rs. 6271.400 Millions as against Rs. 5564.300 Millions of
the previous year registering an increase of 12.71 % in turnover through
increase in sales volume in domestic market, improved product mix and buoyancy
in steel market. The sales volume during financial year 2011-12 was 98,965 MTs
against 92,646 MTs for the financial year 2010-11, an increase of 6.82% over
previous year.
Profit Before Tax
(PBT) stood negative at Rs. 269.500 Millions against Rs. 407.200 Millions in
the previous year, registering loss of 33.82% despite the increase of revenue
by 11.10%. The key reasons for the losses are pointed as under:
a) Foreign
Exchange fluctuation loss of Rs.445.500 Millions due to turmoil in global
economy
b) Increase in
Insurance cost by 200% due to steep increase in premium of marine insurance
policy from 0.07% to 0.25% in year 2011-12.
c) Increase in packing cost by 24.18%
NEW PLANT:
In line with the
expectations of the customers, the Company is expanding its service centre
facility by establishing Plant 2 by the end of 2012. This plant would have a
blanking line, a slitter line and an electrical stamping line to serve various
customers in the Northern Indian market. The sectors primarily targeted would
be Automotive, Two Wheelers and Electrical transformer industry. In order to
fund this expansion spree the Company has investment of USD 16 Million from
Equity Capital and External Commercial Borrowing. This project is expected to
be operational by the end of January, 2013.
In order to
accommodate the changes and enhanced production various considerable decisions
are being taken internally in the Company. The Company expects a rapid and
favorable growth with the upcoming of the New Facilities in the New Plant. In
order to accommodate the production of new Plant, considerable steps have
already been taken in the Sales and Marketing Team.
MARKETING:
The Company
continued to enjoy support from all its valuable customers during the year
2011-12, due to its excellent Customer Relationship Management, delivery terms
and quality of its products manufactured by its Parent Company Viz. POSCO Co.
Limited, Republic of Korea. After 5 years of operation the Company has been
able to establish itself as a critical component in the supply chain of all the
customers. The POSCO brand is well entrenched in the Northern part of the
Indian market and enjoys premium over local steel suppliers. The Company was
committed to sell approximately 0.135 million tons of steel from the service
centre and would achieve this target with the help and support from HQ and all
its valued customers. India has indeed emerged in the global steel scenario. It
has climbed to fourth spot for crude steel production in 2011 from 8th in a
span of few
years and is now
moving to take second spot in next few years, second only to China.
Indian growth
story, although driven by inherent demand potential and sustained economic
growth, has many other facets also, which are typical, as in any other part of
the globe. On the demand side, Indian steel sector probably holds the top spot
as the fundamentals for economic growth in India are better than most parts of
the world. The potential in Indian steel sector growth is also reflected in
scope of increase in usage from the large gap between the current per capita
consumption vis-a -vis global average. Indian steel majors have taken lead in
creating capacities 3-4 years ago and the result is visible now. Many more
projects are underway and in next two to three years, they are likely to come
on stream propelling India to number two spot globally. However the selling
price of flat steel products is a major concern in the Indian market and with
imports increasing by leaps and bounds every year all major players in the international
market are aiming aggressively to get a sizeable share of the market. A lot of
players are also putting up steel service centers to be able to position
themselves strategically with the customers. The Company is making all probable
efforts to capitalize on these opportunities.
MARKETING STRATEGY:
As part of
strategic business expansion the Company has taken the responsibility to market
products from POSCO Maharashtra a newly established galvanizing facility of
POSCO for GI and GA. The Company would strive to develop the market for
galvanized and galvannealed products in the auto, white good, general
engineering and fabrication market. In order to work upon all the strategies
mentioned hereinabove, a separate team for Strategy Formulation and implementation
is formulated. This team constantly monitors the plans and their
implementation.
FINANCE:
The company has
standardized Finance Manual, Customer Credit and Foreign Exchange Policy for
better regulation of financial affairs of the company. The Company has been
focusing on improved execution and negotiation of better terms with the
Customers and Vendors and also tightening the collection follow-up process.
These measures have helped the Company in significant reduction in overdue
receivable and to enhance the working capital, resulting in cash surplus. The
Company is confident to have adequate funding to finance its working capital
requirements as well as future growth needs. The volatility in foreign currency
rates may impact the profitability of the Company to the extent of its exposure
to the International business and specific currencies. However the Company has
been able to use the internal hedge provided to it due to imports for domestic
market and has demonstrated resilience to impact of increased level of
volatility over last 2 years. The Company also takes forward covers selectively
to protect against movement in foreign currency rates.
FIXED ASSETS:
·
Land
·
·
Plant and Machinery
·
Computer
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Air Conditioners
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 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.53.94 |
|
|
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Report Prepared by
: |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.