1. Summary
Information
|
|
|
Country |
India |
|
Company Name |
INTERDRIL ASIA LIMITED |
Principal Name 1 |
Mr. Dean Brakel Gesterkamp |
|
Status |
Moderate |
Principal Name 2 |
Mr. Anil N. Wahal |
|
|
|
Registration # |
55-055900 |
|
Street Address |
R.13 and 4, LGF, Ansal Chambers II, 6, Bhikhajikama Place, New Delhi –
110066, India |
||
|
Established Date |
02.11.1993 |
SIC Code |
-- |
|
Telephone# |
91-22-66921666 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-66782452 |
Business Style 2 |
Repairers |
|
Homepage |
Product Name 1 |
Dril Collars |
|
|
# of employees |
Not Available |
Product Name 2 |
Heavy Weight Dril Pipe |
|
Paid up capital |
Rs.72,525,000/- |
Product Name 3 |
Rotary Kellys |
|
Shareholders |
Foreign holdings – 47.51% Bodies corporate – 7.44% Directors or relatives of
directors – 45.05% |
Banking |
Oriental Bank of
Commerce |
|
Public Limited Corp. |
No |
Business Period |
20 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (33) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
30.06.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
821,708,000 |
Current Liabilities |
455,098,000 |
|
Inventories |
400,941,000 |
Long-term Liabilities |
640,927,000
|
|
Fixed Assets |
444,998,000 |
Other Liabilities |
5,372,000 |
|
Deferred Assets |
3,858,000 |
Total Liabilities |
1,101,397,000 |
|
Invest& other Assets |
13,808,000 |
Retained Earnings |
511,391,000 |
|
|
|
Net Worth |
583,916,000 |
|
Total Assets |
1,685,313,000 |
Total Liab. & Equity |
1,685,313,000 |
|
Total Assets (Previous Year) |
1,470,599,000 |
|
|
|
P/L Statement as of |
30.06.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
552,536,000 |
Net Profit |
13,392,000 |
|
Sales(Previous yr) |
455,207,000 |
Net Profit(Prev.yr) |
11,882,000 |
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
INTERDRIL ASIA LIMITED |
|
|
|
|
Formerly Known
As : |
SKM-INTERDRIL ( |
|
|
|
|
Registered
Office : |
R.13 and 4, LGF, Ansal Chambers II, 6, Bhikhajikama Place, New Delhi –
110066 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2011 |
|
|
|
|
Date of
Incorporation : |
02.11.1993 |
|
|
|
|
Com. Reg. No.: |
55-055900 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 72.525 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PLC055900 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI02314E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAC12643G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Repairers of Down Hole Drilling Tools. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The management has failed to file its financials with government
department for the year 2012. As per previous year’s record, the company is found normal for
business dealings. However, trade relations are reported as fair. Business is active.
Payment terms are unknown. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating : D (Under continuous surveillance) |
|
Rating Explanation |
Default |
|
Date |
April 08,2013 |
Note - Reason for ratings under continuous surveillance. Awaiting for adequate information from the subject.
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 : |
R.13 and 4, LGF, Ansal Chambers II, 6, Bhikhajikama Place, New Delhi –
110066, India |
|
Tel. No.: |
91-22-66921666 |
|
Fax No.: |
91-22-66782452 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
Interdril House, 106, |
|
Tel. No.: |
91-22-66921666/66949956/57/58 |
|
Fax No.: |
91-22-66782452 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
95-A, Anand Lok, Khel Gaon Marg, |
|
Tel. No.: |
91-11-621 7382 / 7642 |
|
Fax No.: |
91-11-621 7382 |
|
|
|
|
Factory 2: |
Village Esamble, Taluka Khalapur, Patalganga, District
Raigad, |
|
Tel. No.: |
91-2192-326757 |
DIRECTORS
As on: 29.12.2011
|
Name : |
Mr. Dean Brakel Gesterkamp |
|
Designation : |
Chairman |
|
Address : |
1261, B. K. Barlicum, Netherland, U. S. A. |
|
Date of Birth/Age : |
08.01.1950 |
|
Date of Appointment : |
02.11.1993 |
|
DIN No.: |
01508882 |
|
|
|
|
Name : |
Mr. Anil Narendranath Wahal |
|
Designation : |
Director |
|
Address : |
401, Raj Tilak, Yari Road, Versova, Andheri (West), Mumbai – 400061. |
|
Date of Birth/Age : |
26.06.1956 |
|
Date of Appointment : |
02.11.1993 |
|
DIN No.: |
00236035 |
|
|
|
|
Name : |
Mr. Mukesh Laxmandas Kaura |
|
Designation : |
Director |
|
Address : |
500/C Gilhaze Apts, Malad (West), Mumbai – 400064. |
|
Date of Birth/Age : |
16.06.1953 |
|
Date of Appointment : |
17.01.1996 |
|
DIN No.: |
00219617 |
|
|
|
|
Name : |
Mr. Manish Narendranath Wahal |
|
Designation : |
Managing Director |
|
Address : |
Flat No. A-503, Plot No. 21, Bldg No.1, Sector 11, Kopar Khairane,
Navi Mumbai – 400701, Maharashtra |
|
Date of Birth/Age : |
26.01.1970 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
00236090 |
|
|
|
|
Name : |
Mr. Indrajit Premmangal Bhattacharyya |
|
Designation : |
Whole Time Director |
|
Address : |
RH 7, Sukhniwas Co-Operative Housing Society Ltd. Plot No. 62, Vashi, Navi
Mumbai – 400703. Maharashtra |
|
Date of Birth/Age : |
11.09.1966 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
00236141 |
KEY EXECUTIVES
|
Name : |
Mr. Krishnakishore Balkrishna Gavaskar |
|
Designation : |
Secretary |
|
Address : |
27/4, Sitala Devi Building, L. J Road, Mahim, Mumbai-400016,
Maharashtra, India |
|
Date of Birth/Age : |
29.07.1954 |
|
Date of Appointment : |
01.03.2010 |
|
Pan No.: |
AACPG1637M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.12.2011
|
Names of Shareholders |
|
No. of Shares |
|
Dean Brakel Gesterkamp |
|
3446196 |
|
Anil Narendranath Wahal |
|
2608475 |
|
Paul Douglas Waters |
|
119 |
|
Dynasty Industries Limited, India |
|
360000 |
|
Manish Narendranath Wahal |
|
617540 |
|
Mukesh Kaura |
|
50 |
|
Ocean Blue Offshore Constructions Private Limited, India |
|
180130 |
|
Anil Wahal (Huf) |
|
40000 |
|
|
|
|
|
Total |
|
7252510 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.12.2011
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
47.51 |
|
Bodies corporate |
|
7.44 |
|
Directors or relatives of directors |
|
45.05 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Repairers of Down Hole Drilling Tools. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
“INTERDRIL”. |
PRODUCTION STATUS (AS ON 30.06.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Heavy Weights |
Nos. |
1830 |
1830 |
|
Drill Collars |
Nos. |
1665 |
1665 |
|
Stabilizer Sleeves |
Nos. |
435 |
435 |
|
Stabilizer Bodies |
Nos. |
189 |
189 |
|
Pup Joints |
Nos. |
189 |
189 |
|
Kelly’s |
Nos. |
189 |
189 |
|
Kelly Saver Subs |
Nos. |
129 |
129 |
|
stabilizers |
Nos. |
189 |
189 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Oriental Bank of Commerce, Santacruz (West)
Branch, Ajay Apartments, S. V. Road, Santacruz (West), Mumbai – 400054,
Maharashtra, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan,
227, D, Nariman Point, Mumbai – 400021, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. M. and Company Chartered Accountants |
|
Address : |
1016, Arun Vihar, Sector 29, Noida – 201301, Uttar Pradesh, India |
|
PAN No.: |
AJUPF3144E |
|
|
|
|
Group Companies : |
·
Interdrill Repairs and Services Private Limited ·
Interdril
Power Private Limited ·
Kellycon Private Limited |
|
|
|
CAPITAL STRUCTURE
As on: 29.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7252510 |
Equity Shares |
Rs.10/- each |
Rs. 72.525 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2011 |
30.06.2010 |
30.06.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
72.525 |
72.525 |
72.525 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
511.391 |
498.634 |
284.696 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
583.916 |
571.159 |
357.221 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
640.927 |
668.454 |
706.336 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
640.927 |
668.454 |
706.336 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1224.843 |
1239.613 |
1063.557 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
444.998 |
466.605 |
274.810 |
|
|
Capital work-in-progress |
4.809 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.999 |
8.900 |
8.899 |
|
|
DEFERREX TAX ASSETS |
3.858 |
3.553 |
5.257 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
400.941
|
352.327
|
373.913
|
|
|
Sundry Debtors |
407.927
|
325.758
|
514.030
|
|
|
Cash & Bank Balances |
67.282
|
39.463
|
12.596
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
346.499
|
273.993
|
191.527
|
|
Total
Current Assets |
1222.649
|
991.541 |
1092.066
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
422.092
|
210.550
|
193.873
|
|
|
Other Current Liabilities |
33.006
|
20.327
|
123.602
|
|
|
Provisions |
5.372
|
0.109
|
0.000
|
|
Total
Current Liabilities |
460.470
|
230.986 |
317.475 |
|
|
Net Current Assets |
762.179
|
760.555 |
774.591
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1224.843 |
1239.613 |
1063.557 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2011 |
30.06.2010 |
30.06.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Product Sales |
552.536 |
455.207 |
889.088 |
|
|
|
Other Income |
56.935 |
0.000 |
4.252 |
|
|
|
Trading Sales |
-- |
0.558 |
3.500 |
|
|
|
Exchange Difference |
-- |
7.759 |
49.957 |
|
|
|
Scrap Sales |
-- |
4.820 |
16.074 |
|
|
|
TOTAL |
609.471 |
468.344 |
962.871 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
329.778 |
242.375 |
617.408 |
|
|
|
Manufacturing & Other Expenses |
22.028 |
17.816 |
23.506 |
|
|
|
Contract Cost |
17.073 |
-- |
-- |
|
|
|
Payment & Provisions to Employees |
45.003 |
38.870 |
41.302 |
|
|
|
Administrative expenses |
60.057 |
40.042 |
47.468 |
|
|
|
Bad Debts Written Off |
-- |
0.000 |
0.394 |
|
|
|
Loss on |
-- |
0.000 |
0.000 |
|
|
|
Selling Expenses |
-- |
18.094 |
40.490 |
|
|
|
TOTAL |
473.939 |
357.197 |
770.568 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
135.532 |
111.147 |
192.303 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
96.769 |
81.132 |
87.944 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
38.763 |
30.015 |
104.359 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
19.988 |
16.304 |
13.455 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
18.775 |
13.711 |
90.904 |
|
|
|
|
|
|
|
|
|
Add |
Previous Years
Income/(Expenses) |
(0.316) |
0.108 |
0.175 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.067 |
1.937 |
25.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
13.392 |
11.882 |
65.735 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
376.002 |
435.090 |
852.891 |
|
|
TOTAL EARNINGS |
376.002 |
435.090 |
852.891 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
336.963 |
201.942 |
534.463 |
|
|
|
Stores & Spares |
9.580 |
12.615 |
13.973 |
|
|
TOTAL IMPORTS |
346.543 |
214.557 |
548.436 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.85 |
1.64 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2011 |
30.06.2010 |
30.06.2009 |
|
PAT / Total Income |
(%) |
2.20 |
2.54
|
6.82
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.40 |
3.01
|
10.17
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.12 |
0.94
|
6.65
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.21 |
0.02
|
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.10 |
1.17
|
1.98
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.66 |
4.29
|
3.43
|
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 |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE
Registered office has been shifted from B-57 Soami Nagar, New Delhi –
110017, India to the present address w.e.f.21.09.2011
FINANCIAL PERFORMANCE
After the financial meltdown of 2008-09 the
order book of the company started declining rapidly. In 2008-09, the company
was carrying a very large order book, which allowed it to have reasonably a
good year in 2008-09. The carryover of the order supported the turnover of
Rs.450.000 millions in 2009-10 as well, but a very weak demand and lack of
fresh order bookings resulted in stagnation of turnover in the year 2010-11.
STEEL SUPPLIERS
The company imports their raw material from
mills in Europe, USA and Asia, with regard to customer?s requirements, delivery
period and logistical needs . Europe and America have become expensive, in
comparision to the prices of finished goods. This has forced then to focus on
buying steel from Asian companies.
OPERATIONS and BUSINESS PERFORMANCE
As macro economic conditions are not
favourable and continue to become difficult these are challenging time for the
company. On the demand side the company is seeing silver lining as oil prices
are maintaining a steady incline more to do with the geopolitical situation in
the world, especially in the Middle East. Over and above this the Shalel Gas
discovery in the USA and other parts of the world, are pushing drilling demand
to new levels. However, challenge from their side remains to stream line their
steel supply.
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. 54.03 |
|
|
1 |
Rs. 82.43 |
|
Euro |
1 |
Rs. 70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
33 |
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.