MIRA
INFORM REPORT
|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
FAURECIA INTERIOR SYSTEMS INDIA PRIVATE LIMITED (w.e.f. 10.10.2011) |
|
|
|
|
Formerly Known
As : |
FAURECIA TECHNOLOGY CENTRE INDIA PRIVATE LIMITED (w.e.f. 19.03.2010) TACO FAURECIA DESIGN CENTRE PRIVATE LIMITED |
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Registered
Office : |
Plot # T-187, Pimpri Industrial Area (B.G. Block), Behind Bhosari
Police Station, Bhosari, Pune – 411026, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
05.05.2004 |
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Com. Reg. No.: |
11-019215 |
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Capital
Investment / Paid-up Capital : |
Rs. 40.000 Millions |
|
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CIN No.: [Company Identification
No.] |
U34300PN2004PTC019215 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET04152B |
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PAN No.: [Permanent Account No.] |
AACCT0275F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing Computer Aided Design (CAD)
and Computer Aided Engineering (CAE) services for interior systems components
for the automotive industry and also engaged in Product process and
Validation (PPV) and development of tools for Original Equipment
Manufacturers. |
|
|
|
|
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 2120000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a good track record. The company
is doing well. General financial position is good. Trade relations are
reported as decent. Business is active. 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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.
INFORMATION DECLINED BY
Management non co-operative
LOCATIONS
|
Registered Office : |
Plot # T-187, Pimpri Industrial Area (B.G. Block), Behind Bhosari
Police Station, Bhosari, Pune – 411026, |
|
Tel. No.: |
91-20-30549700 |
|
Fax No.: |
91-20-30549800 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.D1, CMDA Industrial Estate, Maraimalai Nagar, Chennai –
603209, |
DIRECTORS
AS ON 20.08.2012
|
Name : |
Mr. Nicolas Pechnyk |
|
Designation : |
Director |
|
Address : |
480, |
|
Date of Birth/Age : |
16.10.1967 |
|
Date of Appointment : |
05.05.2004 |
|
DIN No.: |
00352204 |
KEY EXECUTIVES
|
Name : |
Mr. Shailendra Jain |
|
Designation : |
Secretary |
|
Address : |
H-203, Jasminium, |
|
Date of Birth/Age : |
26.12.1968 |
|
Date of Appointment : |
17.07.2006 |
|
PAN No.: |
AAEPJ4310Q |
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|
|
|
Name : |
Franck Euvrard |
|
Designation : |
GM-FIS Automotive |
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|
Name : |
Christophe Hesse |
|
Designation : |
Director Engineering |
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|
Name : |
Bjorn Bergerus |
|
Designation : |
Manager - IEA |
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|
Name : |
Duval David |
|
Designation : |
Sernior Manager - Manufacturing Support |
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|
Name : |
Mr. Vidyadhar Madhukar Limaye |
|
Designation : |
Purchasing Director-India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.08.2012
|
Names of Shareholders |
No. of Shares |
|
Faurecia Automotive Holdings, |
3999999 |
|
Fuarecia Investments SA, France |
1 |
|
TOTAL |
4000000 |
AS ON 20.08.2012
|
Equity Share
Break up |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing Computer Aided Design (CAD)
and Computer Aided Engineering (CAE) services for interior systems components
for the automotive industry and also engaged in Product process and
Validation (PPV) and development of tools for Original Equipment
Manufacturers. |
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Products : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
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|
|
|
|
Door Panel |
Nos. |
1271 |
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|
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GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Available |
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Bankers : |
The Hongkong and Shanghai Banking Corporation Limited, Amar Avinash Corporate City, S.No. 11, Bund Garden Road, Pune - 411001, Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mirchandani Jeetendra Gobind Chartered Accountants |
|
Address : |
"Price Waterhouse and Company Muttha Towers, 5th Floor, Suite No. 8, Airport Road, Yerwada, Pune - 411006, Maharashtra, India |
|
PAN No. : |
AAAFP8828M |
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Holding Company : |
Faurecia Automotive Holdings, France (From December 1, 2009) |
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Ultimate Holding
Company : |
Faurecia SA (From December 1, 2009) |
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Fellow Subsidiaries
: |
· Faurecia (Shanghai) Management Company Limited Faurecia (Wuxi) Seating Components Company Faurecia Abgastechnik GmbH Faurecia Automotive do Brasil Ltda Faurecia Automotive Exteriors Faurecia Automotive Industrie Faurecia Automotive Industroes (Mouzon) Faurecia Automotive Seating - Fabio Faurecia Automotive Seating (BV) Faurecia Automotive Seating (Troy) Faurecia Automotive Seating India Private Limited CIN No.: U28110KA1995PTC019105 Faurecia Automotive Seating, Inc Faurecia Autositze GmbH Faurecia Banbury Faurecia Bloc Avant (Audincourt) Faurecia Components Pisek (Czech Republic) Faurecia Components Pisek sro Faurecia Emissions Control Technologies Private Limited CIN No.: U29130TN1997FTC037962 Faurecia Exhaust System, Inc Faurecia Grojec R&D Center sp.zo.o Faurecia Innenraum Systeme GMBH Faurecia Interieur Industrie (Meru) Faurecia Interieur Systems (USA) Faurecia Interior System, inc Faurecia Interior Systems Salc España, sl Faurecia Interior Systems Sweden Ab Faurecia Kunststoffe Automobilsysteme GmbH Faurecia Seating Talmaciu Faurecia Services Group Faurecia Sieges D'Automobile Sa Faurecia Sistemas Automotrices De Faurecia Slovakia S.R.O. Faurecia Systèmes D'echappement Faurecia Trim Korea Limited Faurecia Walbrzych - Poland Faurecia Walbrzych sp z.o.o.Frames FECT India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
40.000 |
40.000 |
|
(b) Reserves & Surplus |
|
490.245 |
353.061 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
530.245 |
393.061 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
14.132 |
21.480 |
|
Total Non-current Liabilities (3) |
|
14.132 |
21.480 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
292.334 |
86.828 |
|
(c) Other current
liabilities |
|
329.398 |
30.908 |
|
(d) Short-term provisions |
|
8.487 |
5.494 |
|
Total Current Liabilities (4) |
|
630.219 |
123.230 |
|
|
|
|
|
|
TOTAL |
|
1174.596 |
537.771 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
35.176 |
42.987 |
|
(ii) Intangible Assets |
|
2.103 |
11.409 |
|
(iii) Capital
work-in-progress |
|
2.719 |
3.070 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
8.568 |
7.247 |
|
(d) Long-term Loan and Advances |
|
180.131 |
84.295 |
|
(e) Other Non-current assets |
|
0.409 |
1.441 |
|
Total Non-Current Assets |
|
229.106 |
150.449 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
126.729 |
63.061 |
|
(b) Inventories |
|
217.856 |
3.201 |
|
(c) Trade receivables |
|
227.346 |
175.186 |
|
(d) Cash and cash
equivalents |
|
32.030 |
52.084 |
|
(e) Short-term loans and
advances |
|
281.046 |
72.240 |
|
(f) Other current assets |
|
60.483 |
21.550 |
|
Total Current Assets |
|
945.490 |
387.322 |
|
|
|
|
|
|
TOTAL |
|
1174.596 |
537.771 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
40.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
238.413 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
278.413 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
278.413 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
26.382 |
|
|
Capital work-in-progress including capital advances |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
78.837 |
|
|
DEFERRED TAX ASSETS |
|
|
0.343 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.178 |
|
|
Sundry Debtors |
|
|
78.889 |
|
|
Cash & Bank Balances |
|
|
36.515 |
|
|
Other Current Assets |
|
|
20.576 |
|
|
Loans & Advances |
|
|
86.601 |
|
Total
Current Assets |
|
|
222.759 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
35.019 |
|
|
Other Current Liabilities |
|
|
2.488 |
|
|
Provisions |
|
|
12.401 |
|
Total
Current Liabilities |
|
|
49.908 |
|
|
Net Current Assets |
|
|
172.851 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
278.413 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Software Design and Development Services |
1002.725 |
613.658 |
387.116 |
|
|
|
Other Income |
45.929 |
18.745 |
5.406 |
|
|
|
TOTAL (A) |
1048.654 |
632.403 |
392.522 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
502.680 |
306.157 |
|
|
|
(Including |
(Including |
|
|
|
|
PROFITBEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
Financial
Expenses) |
Financial
Expenses) |
86.365 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.364 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
218.154 |
129.723 |
86.001 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.075 |
22.426 |
23.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
197.079 |
107.297 |
62.729 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
59.894 |
(7.351) |
0.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER
TAX (G-H) (I) |
137.185 |
114.648 |
62.112 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
339.201 |
224.553 |
162.441 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
476.386 |
339.201 |
224.553 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue from Software Design and Development |
|
587.432 |
373.237 |
|
|
|
Revenue from PPV activity |
|
16.638 |
5.744 |
|
|
TOTAL EARNINGS |
1046.756 |
604.070 |
378.981 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
12.545 |
0.000 |
|
|
|
Raw Materials |
NA |
0.000 |
0.943 |
|
|
TOTAL IMPORTS |
NA |
12.545 |
0.943 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
34.30 |
28.66 |
15.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
13.08
|
18.13 |
15.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.65
|
17.48 |
16.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.94
|
20.34 |
25.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.27 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
3.14 |
4.46 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
The registered office of the company has been shifted from Sai Radhe
Building, 3rd Floor, Plot No.100 and 101, R.B.M. Road, Behind Hotel Le
Meridien, Sangamwadi, Pune – 411 01, Maharashtra, India to the present
address w.e.f. 11.06.2012
GENERAL INFORMATION
The Company is engaged primarily providing Computer Aided Design (CAD) and Computer Aided Engineering (CAE) services for interior systems components for the automotive industry. The Company is also engaged in Product process and Validation (PPV) and development of tools for Original Equipment Manufacturers.
FINANCIAL HIGHLIGHTS
The year was a year of good volumes including development of local program, starting new activities and new explorations. The global economic climate posed several challenges, but they made the best use of their resources and abilities for growth.
The Company registered a total income of INR 1049 Mio (Previous year INR 632 Mio, increase of 66%), and Net Profit of INR 138 Mio (Previous year INR 115 Mio, increase by 23%).
OUTLOOK
With the steady but slow growth in Automotive Industry, the Company foresees steady growth in the business activities in the coming months.
The Company took all necessary precautions to control and cut costs, wherever possible to deal with growing volumes of business.
In addition to higher volumes of Engineering, the Company strengthen its activities in the form of full Program Development including Program Management and setting-up of manufacturing Plant. In view of global competitiveness, the Company sees huge potential to enter into Indian market to cater the requirements of global customers.
The Company look forward towards another tremendous and challenging year.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
Income Tax in respect of Assessment Year 2005-2006 u/s 156 in respect of which the Company has filed an appeal |
247.819 |
247.819 |
|
Penalty order u/s 271 (1) (b) of Income tax Act for the Assessment Year 2005-06 |
10.000 |
10.000 |
|
Disallowance of benefit under Section 10A for the assessment year 2008 - 09 |
10643.396 |
0.000 |
|
Income Tax matters |
10901.215 |
257.819 |
FIXED ASSETS
· Leasehold improvements
Plant
and Machinery
Vehicles
Network
Equipments, Computers
Office
Equipments
Furniture
Electrical
Installation
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. 60.80 |
|
|
1 |
Rs. 91.95 |
|
Euro |
1 |
Rs. 80.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.