1. Summary Information
|
|
|
Country |
|
|
Company Name |
IFB Automotive
Private Limited |
Principal Name 1 |
Mr. Bijon Nag |
|
Status |
Good |
Principal Name 2 |
Mr. Bikramjit Nag |
|
|
|
Registration # |
21-46693 |
|
Street Address |
Plot
No Industrial Sector – 5, 1 East Kolkata Township, Tiljala, Kolkata – 700107,
West |
||
|
Established Date |
12.04.1989 |
SIC Code |
-- |
|
Telephone# |
91-33-24428286 |
Business Style 1 |
Manufacture
|
|
Fax # |
91-33-24421003 |
Business Style 2 |
-- |
|
Homepage |
http://www.ifbautomotive.com / http://www.ifbassl.com |
Product Name 1 |
Fine
Blanked Automotive Components |
|
# of employees |
Not
Available |
Product Name 2 |
Seating
Systems |
|
Paid up capital |
Rs.50,800,000/- |
Product Name 3 |
Door
Systems and Automotive Motors |
|
Shareholders |
Bodies
Corporate – 100% |
Banking |
ICICI Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
24 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba
(52) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
|
IFB
Industries Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,091,800,000 |
Current Liabilities |
917,400,000 |
|
Inventories |
320,200,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
452,900,000 |
Other Liabilities |
59,200,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
976,600,000 |
|
Invest& other Assets |
1,576,800,000 |
Retained Earnings |
2,414,300,000 |
|
|
|
Net Worth |
2,465,100,000 |
|
Total Assets |
3,441,700,000 |
Total Liab. & Equity |
3,441,700,000 |
|
Total Assets (Previous Year) |
3,248,489,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales (Including Other Income) |
4,292,500,000 |
Net Profit |
227,500,000 |
|
Sales (Previous yr) (Including Other Income) |
4,090,500,000 |
Net Profit(Prev.yr) |
178,500,000 |
MIRA
INFORM REPORT
|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
IFB AUTOMOTIVE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot
No Industrial Sector – 5, 1 East Kolkata Township, Tiljala, Kolkata – 700107,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.04.1989 |
|
|
|
|
Com. Reg. No.: |
21-46693 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 50.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130WB1989PTC046693 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRR00487E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI2766H |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture
of Fine Blanked Automotive Components, Seating Systems, Door Systems and
Automotive Motors. |
|
|
|
|
No. of Employees
: |
Not
Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitment. 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) |
|
|
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 |
FITCH |
|
Rating |
Long term rating A |
|
Rating Explanation |
Having low default risk. The capacity for payment of financial
commitments is considered strong. |
|
Date |
December 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 : |
Plot
No Industrial Sector – 5, 1 East Kolkata Township, Tiljala, Kolkata – 700107,
West |
|
Tel. No.: |
91-33-24428286 |
|
Fax No.: |
91-33-24421003 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office/ Factory : |
# 16, Visveswariah Industrial Estate, 1st Main Road, Off Whitefield
Road, |
|
Tel. No.: |
91-80-39884450 |
|
Fax No.: |
91-80-39842778 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head office : |
14, |
|
Tel. No.: |
91-33-24014917 |
|
Fax No.: |
91-33-24015479 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
·
901-903, ·
58th KM Stone, Tel. No. – 91-124-3209399/499 Fax No. – 91-124-3209006 |
DIRECTORS
As on : 16.07.2012
|
Name : |
Mr. Bijon Nag |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
4th Floor, The Residency, 39 Humayun Kabir Sarani, Kolkata
– 700053, West |
|
Date of Birth/Age : |
16.08.1942 |
|
Qualification : |
Mechanical Engineer |
|
Pan No : |
ABOPN2790H |
|
Date of Appointment : |
12.04.1989 |
|
Election ID No : |
WB-23-150-00937 |
|
DIN No : |
00756995 |
|
|
|
|
Name : |
Mr. Siddhartha Chatterjee |
|
Designation : |
Director |
|
Address : |
79/2/1/2 Raja Naba, |
|
Date of Birth/Age : |
07.01.1963 |
|
Date of Appointment : |
18.08.2003 |
|
DIN No : |
00818528 |
|
|
|
|
Name : |
Mr. Bikramjit Nag |
|
Designation : |
Director |
|
Address : |
4th Floor, The Residency, 39 Humayun Kabir Sarani, Kolkata
– 700 053, West |
|
Date of Birth/Age : |
27.09.1973 |
|
Pan No : |
ABVPN5965F |
|
Date of Appointment : |
06.12.2000 |
|
DIN No : |
00827155 |
|
|
|
|
Name : |
Mr. Dulal Kumar Battacharya |
|
Designation : |
Director |
|
Address : |
112-B, Block –B, SNS, |
|
Date of Birth/Age : |
05.12.1940 |
|
Pan No : |
AGKPB2641J |
|
Date of Appointment : |
06.12.2000 |
|
DIN No : |
00883454 |
|
|
|
|
Name : |
Mr. Gautam Dasgupta |
|
Designation : |
Director |
|
Address : |
47/2, |
|
Date of Birth/Age : |
19.02.1946 |
|
Date of Appointment : |
29.07.2010 |
|
DIN No : |
03158000 |
KEY EXECUTIVES
|
Name : |
Mr. Araz Anwar Ali |
|
Designation : |
Secretary |
|
Address : |
1A, |
|
Date of Birth/Age : |
20.04.1981 |
|
Date of Appointment : |
22.10.2010 |
|
PAN No : |
AGHPA7203N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 16.07.2012
|
Names of Shareholders |
No. of Shares |
|
Bikramjit
Nag |
1 |
|
Dulal
Kumar Battacharya |
1 |
|
IFB Agro
Industries Limited, |
955998 |
|
Nurpur Gases
Private Limited, |
1660000 |
|
Asansol Bottling
and Packing Company Private Limited, |
2464000 |
|
Total |
5080000 |
Equity
Share Break up (Percentage of Total Equity)
As on : 16.07.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture
of Fine Blanked Automotive Components, Seating Systems, Door Systems and
Automotive Motors. |
GENERAL INFORMATION
|
Customers : |
·
Maruti Udyog Limited ·
Mahindra and Mahindra ·
Ford ·
Hyundai ·
Tata Motors ·
General Motors ·
Honda ·
·
FIAT ·
BEHR ·
Tata Johnson Controls ·
Tata Toyo ·
Hanil Lear India Private Limited ·
Subros ·
Krishna Maruti Limited ·
BSL ·
TS Tech ·
Sanden Vikas |
|
|
|
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
State Bank of ·
Bank of ·
ICICI Bank Limited, ·
ICICI Bank Limited, |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
8-2-618/2,
Relaince Humsafar, 4th Floor, Road No.11, Banjara Hills,
Hyderabad-500034, Andhra Pradesh |
|
PAN No.: |
AAIFB4734C |
|
|
|
|
Group Companies : |
·
Lupin Agencies Private Limited, ·
·
Maruti Insurance Broking Limited, |
|
|
|
|
Associates : |
·
Nurpur Gases Private Limited, ·
Asansol Bottling and Packaging Company Private Limited, ·
IFB
Agro Industries Limited, ·
IFB
Industries Limited, |
|
|
|
|
Subsidiaries : |
·
Global Automotive And Appliances Pte. Limited,
·
Thai
Autotive and Appliances Limited, |
CAPITAL STRUCTURE
As on : 16.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5500000 |
Equity Shares |
Rs. 10/-each |
Rs. 55.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5080000 |
Equity Shares |
Rs. 10/-each |
Rs. 50.800 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 |
50.800 |
50.800 |
50.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2414.300 |
2186.752 |
2008.241 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2465.100 |
2237.552 |
2059.041 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
16.800 |
20.957 |
42.048 |
|
|
|
|
|
|
|
|
TOTAL |
2481.900 |
2258.509 |
2101.089 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
452.900 |
461.041 |
542.400 |
|
|
Capital work-in-progress |
0.800 |
7.839 |
11.958 |
|
|
|
|
|
|
|
|
INVESTMENT |
1576.000 |
1611.658 |
1117.888 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
320.200
|
213.194
|
198.700
|
|
|
Sundry Debtors |
448.100
|
517.716
|
492.973
|
|
|
Cash & Bank Balances |
298.300
|
124.654
|
351.881
|
|
|
Other Current Assets |
0.800
|
0.000
|
0.000
|
|
|
Loans & Advances |
344.600
|
312.387
|
255.810
|
|
Total
Current Assets |
1412.000
|
1167.951 |
1299.364 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
738.900
|
898.564
|
753.940
|
|
|
Other Current Liabilities |
178.500
|
51.723
|
71.179
|
|
|
Provisions |
42.400
|
39.693
|
45.402
|
|
Total
Current Liabilities |
959.800
|
989.980 |
870.521 |
|
|
Net Current Assets |
452.200
|
177.971
|
428.843
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.00 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2481.900 |
2258.509 |
2101.089 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
3097.588 |
|
|
|
Other Income |
|
|
201.614 |
|
|
|
TOTAL (A) |
4292.500 |
4090.500 |
3299.202 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
2450.042 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
(65.671) |
|
|
|
Administrative Expenses |
|
|
532.223 |
|
|
|
TOTAL (B) |
3952.600 |
3728.600 |
2916.594 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
339.900 |
361.900 |
382.608 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.100 |
1.400 |
0.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
339.800 |
360.500 |
381.717 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
72.200 |
110.800 |
57.579 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
267.600 |
249.700 |
324.138 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
40.100 |
71.200 |
84.635 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
227.500 |
178.500 |
239.503 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2186.800 |
2008.200 |
1768.738 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2414.300 |
2186.700 |
2008.241 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
28.400 |
26.040 |
17.301 |
|
|
TOTAL EARNINGS |
28.400 |
26.040 |
17.301 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
373.700 |
216.546 |
164.979 |
|
|
TOTAL IMPORTS |
373.700 |
216.546 |
164.979 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
44.78 |
35.14 |
47.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.30
|
4.36 |
7.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
9.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.35
|
15.33 |
17.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.11 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.18 |
1.49 |
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 |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking account |
------------------ |
|
26] |
Buyer visit details |
------------------ |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if
available |
Yes |
FINANCIAL RESULTS :
The company recorded total Income of
Rs.4292.500 Millions as against Rs. 4090.500 Millions registering an Increase
5% over the previous year.
INDUSTRY STRUCTURE AND DEVELOPMENTS :
As per Society of Indian Automobile
Manufactures (SIAM) Report, the production data for April 2011-March 2012 shows
production growth of 13.83 % in automotive industry over the same period of
last year. In 2011-2012 production grew at 6.83 % as compare to March 2011. In
2011-12, of the total production (no of vehicles) of the automotive industry,
the share of passenger vehicles was 15 %.
Even though the Two Wheeler and Commercial
Vehicle segment has witnessed growth of 14.16% and 18.2% respectively during
April 2011-March 2012 over same period of last year, Passenger Vehicles segment
grew at 4.66 % only. Passenger Car segment grew by 2.19 %, Utility Vehicles
grew by 16.47 % and Vans by 10.01 % during this period. For the first time in
history car sales crossed two million in a financial year.
The
Growing domestic demand for vehicles Global
sourcing hub
.
The Automotive mission plan (2010-2016) is
being envisaged to promote growth. It has issued recommendations such as,
setting up a technology-modernization fund, with special emphasis on Small and
Medium Enterprises (SMEs), increasing exports and related infrastructure and,
setting up special auto parks and auto component virtual Special Economic Zones
(SEZs).
MARKET :
The size of the auto components industry has
been estimated at Rs 1600 billion, growing at a Compounded Annual Growth Rate
(CAGR) of 20.4% since FY05. The industry is expected to grow beyond US$ 110
billion by 2020. As per industry estimates, out of the total turnover of the
Indian auto components industry, around 60% is derived from sales to domestic
Original Equipment Manufacturers (OEMs), around 25% comes from sales to the
domestic replacement market enjoying lower pricing around 15% is derived from
exports.
Among the 6,400 players present in the Indian
market, about 600 constitute the organized sector and contribute more than 77%
of the country total production of auto components. The unorganized sector
mainly concentrates on low value-added segments of the industry and catering to
the replacement market enjoying lower pricing, lower operating costs and
exemption from excise duty.
After recording a robust 20%+ volume growth
in 2009-10 and 2010-11, the Passenger Vehicle segment volumes (domestic +
exports) grew by a meager 4.3% out of which Passenger vehicle (PV) segment has
grown at 2.19%. However, 2011-12 was marred by consumer sentiment on account of
higher interest rates and series of petroleum fuel price increases due to
de-regulation. Further demand as well as supply constraints caused by
production disruption due to workers problem at the country largest OEM, the
tsunami in
manufacturers.
OUTLOOK :
Rising interest rates, steep and steady rise in
input costs, unregulated price hike in raw material, sudden depreciation of
rupee against major currencies together with labour unrest are certain key
reasons behind the alarming drop in passenger car sales as per Association of
Chamber of Commerce according to chambers analysis on Indian Auto Industry.
Since a majority of revenues of the auto component industry are derived from
supplies to the domestic Original Equipment Manufacturers, the growth prospects
of the former are largely determined by performance of the user Original
Equipment.
BACKGROUND
The Company was incorporated in the year 1980 as a joint
venture company by name RHW India Limited between RHW (
FIXED ASSETS :
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Motor Vehicles
·
Computers
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. 54.17 |
|
|
1 |
Rs. 82.98 |
|
Euro |
1 |
Rs. 70.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
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 |
|
52 |
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.