MIRA
INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
VOLKSWAGEN GROUP SALES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Silver Utopia, 3rd
and 4th Floor, Cardinal Gracious Road, Chakala, Andheri (East),
Mumbai – 400099, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168439 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2042.241 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50401MH2007FTC168439 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14548C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV4413F |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
The Company engaged in the business of Selling, Distributing,
Exporting and Marketing Automotive Vehicles and Related Parts, Components and
Accessories. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Volkswagen International Finance N.V.,
Netherlands’. It is a well-established company having a good track record. It
is the sales and marketing arm for Volkswagen and Audi brands. It undertakes
sales promotion, dealer identification and dealer development for these
brands. The subject will continue to receive operational and financial support
from its parent company. Trade relations are reported as decent. Business is active. Payment
terms are reported as regular and as per commitment. The company can be considered 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
26.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
26.06.2013 |
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 : |
Silver Utopia, 3rd and 4th Floor, Cardinal
Gracious Road, Chakala, Andheri (East), Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-40547000 |
|
Fax No.: |
91-22-40547100 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 24.12.2012)
|
Name : |
Gerasimos Dorizas |
|
Designation : |
Managing Director |
|
Address : |
3, North Avenue, Level, 3/4 Maker Maxity, Bandra Kurla Complex, Bandra
(East), Mumbai-400051, Maharashtra, India |
|
Date of Birth/Age : |
09.02.1961 |
|
Date of Appointment : |
14.02.2013 |
|
DIN No.: |
06409224 |
|
|
|
|
Name : |
Mr. Arvind Kumar Saxena |
|
Designation : |
Director |
|
Address : |
1504, Tower – 2, The palms South City – I, Gurgaon – 122001, Haryana,
India |
|
Date of Birth/Age : |
28.09.1959 |
|
Date of Appointment : |
24.08.2012 |
|
DIN No.: |
02910083 |
|
|
|
|
Name : |
Mr. Michael Becud Perschke |
|
Designation : |
Director |
|
Address : |
3, North Avenue, Level, 3/4 Maker Maxity, Bandra Kurla Complex, Bandra
(East), Mumbai-400051, Maharashtra, India |
|
Date of Birth/Age : |
26.07.1967 |
|
Date of Appointment : |
19.11.2010 |
|
DIN No.: |
03268267 |
|
|
|
|
Name : |
Dietmar Hildebrandt |
|
Designation : |
Director |
|
Address : |
3, North Avenue, Level, 3/4 Maker Maxity, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra, India |
|
Date of Birth/Age : |
29.09.1958 |
|
Date of Appointment : |
19.11.2010 |
|
DIN No.: |
03298934 |
|
|
|
|
Name : |
Mr. Anil Vodur Reddi |
|
Designation : |
Director |
|
Address : |
Flat No.101, 1st Floor, Ferndale Building, Plot No.226, 12th
Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
28.04.1972 |
|
Date of Appointment : |
13.01.2012 |
|
DIN No.: |
05139208 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Somnath Kamath |
|
Designation : |
Company Secretary |
|
Address : |
Room No.1, Dubhash Building, Gokhale Road, Dadar, Mumbai – 400028,
Maharashtra, India |
|
Date of Birth/Age : |
04.07.1976 |
|
Date of Appointment : |
01.07.2008 |
|
PAN No.: |
AKSPK6665R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 24.12.2012)
|
Names of Shareholders |
|
No. of Equity
Shares |
|
|
|
|
|
Volkswagen International Finance N.V., Netherlands |
|
18419737 |
|
Volkswagen A.G., Germany |
|
1 |
|
|
|
|
|
Total |
|
18419738 |
|
|
||
|
Names of
Shareholders |
|
No.
of Preference Shares |
|
|
|
|
|
Volkswagen A.G., Germany |
|
185804330 |
|
|
|
|
|
Total |
|
185804330 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company engaged in business of Selling, Distributing, Exporting
and Marketing Automotive Vehicles and Related Parts, Components and
Accessories. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252 Veer
Sarvarkar Marg, Shivaji Park, Dadar (West), Mumbai – 400028, Maharashtra,
India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company
: |
· Volkswagen International Finance N.V., Netherlands |
|
|
|
|
Ultimate
Holding Company : |
· Porsche Automobile Holding SE |
|
|
|
|
Company which indirectly controls
the entity through an intermediary : |
· Volkswagen AG, Germany and Global Automobile C.V |
|
|
|
|
Fellow
Subsidiary Companies : |
·
Skoda Auto India Private Limited ·
Volkswagen Finance Private Limited ·
Audi AG ·
Volkswagen Audi Espana, S.A. ·
Skoda Auto A S ·
Audi Quattro GMBH ·
Volkswagen Do Brazil Limited ·
Audi Volkswagen Middle East FZE ·
Volkswagen Group United Kingdom
Limited ·
Volkswagen Coaching GMBH ·
Volkswagen de Mexico, S.A. de C.V ·
Group Volkswagen France ·
Volkswagen Group of America ·
Volkswagen R GmbH ·
Volkswagen International Finance N.V. ·
Audi Akademie |
CAPITAL STRUCTURE
(AS ON 24.12.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18419738 |
Equity Shares |
Rs.10/- each |
Rs.184.197 Millions |
|
185804330 |
Preference Shares |
Rs.10/- each |
Rs.1858.043 Millions |
|
|
Total |
|
Rs.2042.241
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18419738 |
Equity Shares |
Rs.10/- each |
Rs.184.197 Millions |
|
185804330 |
Preference Shares |
Rs.10/- each |
Rs.1858.043 Millions |
|
|
Total |
|
Rs.2042.241
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 |
|
2042.240 |
2042.240 |
|
(b) Reserves & Surplus |
|
771.130 |
178.750 |
|
(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) |
|
2813.370 |
2220.990 |
|
|
|
|
|
|
(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 |
|
959.050 |
547.870 |
|
Total Non-current
Liabilities (3) |
|
959.050 |
547.870 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
5226.680 |
1048.720 |
|
(b)
Trade payables |
|
6879.120 |
7617.080 |
|
(c)
Other current liabilities |
|
786.260 |
728.340 |
|
(d) Short-term
provisions |
|
454.830 |
519.610 |
|
Total Current
Liabilities (4) |
|
13346.890 |
9913.750 |
|
|
|
|
|
|
TOTAL |
|
17119.310 |
12682.610 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
663.240 |
630.370 |
|
(ii)
Intangible Assets |
|
35.490 |
12.870 |
|
(iii)
Capital work-in-progress |
|
84.250 |
18.470 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
225.560 |
435.970 |
|
(d) Long-term Loan and Advances |
|
1534.520 |
2867.930 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
2543.060 |
3965.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1399.950 |
3537.020 |
|
(c)
Trade receivables |
|
8647.620 |
4492.420 |
|
(d) Cash
and cash equivalents |
|
34.590 |
4.850 |
|
(e)
Short-term loans and advances |
|
2901.410 |
177.260 |
|
(f)
Other current assets |
|
1592.680 |
505.450 |
|
Total
Current Assets |
|
14576.250 |
8717.000 |
|
|
|
|
|
|
TOTAL |
|
17119.310 |
12682.610 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2042.241 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(886.905) |
|
|
NETWORTH |
|
|
1155.336 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
35.296 |
|
|
TOTAL BORROWING |
|
|
35.296 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1190.632 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
632.640 |
|
|
Capital work-in-progress |
|
|
26.053 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
523.703 |
|
|
Sundry Debtors |
|
|
1416.626 |
|
|
Cash & Bank Balances |
|
|
1488.167 |
|
|
Other Current Assets |
|
|
5.350 |
|
|
Loans & Advances |
|
|
1227.244 |
|
Total
Current Assets |
|
|
4661.090 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
3715.456 |
|
|
Other Current Liabilities |
|
|
47.633 |
|
|
Provisions |
|
|
366.062 |
|
Total
Current Liabilities |
|
|
4129.151 |
|
|
Net Current Assets |
|
|
531.939 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1190.632 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
82374.024 |
46207.212 |
12739.994 |
|
|
|
Other Income |
885.240 |
301.187 |
613.482 |
|
|
|
TOTAL |
83259.264 |
46508.399 |
13353.476 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Traded Goods |
|
|
10093.734 |
|
|
|
Personnel Cost |
|
|
456.331 |
|
|
|
Administration and other expenses |
|
|
949.415 |
|
|
|
Selling and Distribution expenses |
|
|
498.175 |
|
|
|
TOTAL |
82625.012 |
44918.766 |
11997.655 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
634.252 |
1294.198 |
1106.716 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
41.875 |
228.552 |
204.197 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
592.377 |
1065.646 |
902.519 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(886.904) |
(1789.423) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
178.742 |
(886.904) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
32.16 |
57.85 |
49.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.71
|
2.29
|
6.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.77
|
2.80
|
8.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.77
|
10.58
|
20.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.58
|
0.96 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.86
|
0.47
|
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
0.88
|
1.13 |
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 |
No |
|
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 |
No |
|
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 |
Yes |
------------------------------------------------------------------------------------------------------------------------------
Profile
|
Client Industry |
Automobiles |
|
Client's
discipline |
-- |
General
|
The growth of the
client's industry is best described as: |
Growing |
|
Brief
description of the services and/or goods the client provides to the
marketplace: |
Polo, Vento,
Audi |
|
What is the
legal structure of the client? |
Subsidiary of a
Parent Company |
|
What type of
company is the client? |
Private |
Credit Rating
|
Client's debt
tracked by a credit rating agency? |
Yes |
|
Name of credit
rating agency: |
CRISIL |
|
Credit rating
class provided by credit rating agency: |
Investment Grade |
|
Client credit
rating: |
AA- / A1+ |
|
Report on credit
worthiness of client purchased from: |
Not obtained |
Client Financials
|
Does the client
have a credit facility? |
Yes |
|
Do you have
financial information on this client? |
Yes |
|
Credit facility
type: |
Unsecured |
|
Amount of credit
facility: |
Unsecured
:Rs.5226.680 Millions |
|
Currency of
financial statements/data: |
INR Millions |
|
Annualized
revenues: |
Rs.82374.024
Millions |
|
Annualized COGS: |
Not Available |
|
Annualized EBITDA: |
Not Available |
|
Annualized net
income: |
Rs.592.377
Millions |
|
Cash balance: |
Rs.0.120 Million |
|
Marketable
Securities balance: |
------------ |
|
Accounts
Receivable balance: |
Rs.8647.620
Millions |
|
Current Assets
balance: |
Rs.14576.250 Millions |
|
Total assets
balance: |
Rs.17119.310
Millions |
|
Current
Liabilities balance: |
Rs.13346.890 Millions |
|
Long-Term Debt
balance: |
Nil |
|
Equity balance: |
Rs.2813.370 Millions |
|
Net cash
provided by operating activities: |
Rs.(3940.360)
Millions |
|
Date of client's
financial data populated: |
31.03.2012 |
|
Financial
information provided above audited? |
Yes |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Rupee Term Loans from Banks |
1000.000 |
0.000 |
|
Loans and Advances from Others |
2890.000 |
0.000 |
|
Other loans and advances |
1336.680 |
1048.720 |
|
|
|
|
|
Total |
5226.680 |
1048.720 |
NOTE
The registered office of the company has been shifted from Vakils House,
18 Sprott Road, Ballard Estate, Mumbai-400001, Maharashtra, India to the
present address w.e.f. 15.09.2008
OPERATIONS
During the year, the Company has made a net profit of Rs.592.377
Millions after tax.
MARKET / BUSINESS OVERVIEW
During the period ended
March 31, 2012, the company has sold 78,279 Volkswagen Passenger Cars and 6,547
Audi cars as a result of which the company could achieve sales of Rs.82374.024
Millions, this includes turnover of spare parts, accessories and tools. The
company is optimistic of achieving higher sales figures in the forthcoming
year.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS
v
Tangible Assets
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Leasehold Equipments
·
Tools and Equipment
·
Vehicles
v
Intangible Assets
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.69 |
|
|
1 |
Rs.100.80 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
54 |
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.