MIRA INFORM REPORT
|
Report Date : |
29.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOMENTIVE PERFORMANCE MATERIALS (INDIA) PRIVATE LIMITED (w.e.f
29.12.2006) |
|
|
|
|
Formerly Known
As : |
GE BAYER SILICONES (INDIA) PRIVATE LIMITED (w.e.f. 28.12.1998) GE SILICONES ( |
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|
|
Registered
Office : |
Sy. No. 09, Electronic City (West), Hosur Road, Bangalore - 560100,
Karnataka |
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|
|
Country : |
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|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
22.11.1995 |
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|
|
|
Com. Reg. No.: |
08-019244 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.286.290 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299KA1995PTC019244 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG00578E |
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PAN No.: [Permanent Account No.] |
AAACG9931F |
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Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacture (including manufacture through sub-contract)
and Distribution of Silicone and Silicone Related Products. |
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|
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 4690000 |
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|
|
|
Status : |
Good |
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|
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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 fine track record.
General financial position is good. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal 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 |
|
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.
LOCATIONS
|
Registered Office : |
Sy. No. 09, Electronic City (West), Hosur Road, Bangalore - 560100,
Karnataka, India |
|
Tel. No.: |
91-80-49352183 / 49352222 |
|
Fax No.: |
91-80-49352233 |
|
E-Mail : |
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|
Website : |
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|
Factory : |
Phase II, SIPCOT Industrial Estate, Oragadam, Chennai,
Tamilnadu, India |
|
|
|
|
Research and
Development Centre : |
Located at · Bangalore |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Varghese Poulose Nalian |
|
Designation : |
Director |
|
Address : |
# 103, Sobha Ivory Apartments, |
|
Date of Birth/Age : |
03.09.1966 |
|
Date of Appointment : |
01.08.2004 |
|
PAN No.: |
ABBPN4660K |
|
DIN No.: |
00045961 |
|
|
|
|
Name : |
Mr. Ramaswamy Muthuraman |
|
Designation : |
Director |
|
Address : |
# 48/49 1A, Cross Banshankari 3 Stage, V Block, Bangalore – 560085, Karnataka, India |
|
Date of Birth/Age : |
02.06.1962 |
|
Date of Appointment : |
07.07.2004 |
|
PAN No.: |
AAGPH8403G |
|
DIN No.: |
00043521 |
|
|
|
|
Name : |
Mr. Robert Gnann |
|
Designation : |
Director |
|
Address : |
Buchenkamosweg 18, Bergisch, Gladbach 51427 |
|
Date of Birth/Age : |
16.06.1954 |
|
Date of Appointment : |
25.05.2011 |
|
DIN No.: |
03320237 |
KEY EXECUTIVES
|
Name : |
Mr. Aravind Menon |
|
Designation : |
Secretary |
|
Address : |
Flat No.103, Axis Sinopia Arekere Village, Bannergatta Road, Bangalore-560072,
Karnataka, India |
|
Date of Birth/Age : |
05.10.1985 |
|
Date of Appointment : |
26.03.2012 |
|
PAN No.: |
AWHPM5985B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Momentive Performance Materials Holdings GMBH, |
|
28629003 |
|
V. P. Nalian |
|
1 |
|
R Muthuraman |
|
1 |
|
Total |
|
28629005 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
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 : |
Manufacture (including manufacture through sub-contract)
and Distribution of Silicone and Silicone Related Products. |
||||
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
31.03.2011 |
|
Installed Capacity |
MT |
3400 |
|
Actual Production |
MT |
1058 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
The Hongkong and Shanghai Banking Corporation Limited, No.7, MG Road, Bangalore - 560001, Karnataka, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
5th |
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PAN.: |
AAEFP3641G |
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Holding Company : |
Momentive Performance Materials Gmbh, Germany |
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Ultimate holding
Company : |
Momentive Performance Materials Inc., USA |
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|
Fellow subsidiaries
: |
· Momentive Performance Materials, Hong Kong · Momentive Performance Materials, Italy · Momentive Performance Materials, Japan · Momentive Performance Materials, Shanghai · Momentive Performance Materials, Songjiang · Momentive Performance Materials, Thailand · Momentive Performance Materials, USA · Momentive Performance Material, Nantong · Momentive Performance Materials, Singapore · Momentive Performance Materials, Brazil · Momentive Performance Materials, South Korea |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28629005 |
Equity Shares |
Rs.10/- each |
Rs.286.290
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 |
|
286.290 |
286.290 |
|
(b) Reserves & Surplus |
|
885.729 |
730.416 |
|
(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) |
|
1172.019 |
1016.706 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
|
369.192 |
461.676 |
|
(b) Deferred tax liabilities (Net) |
|
22.053 |
13.841 |
|
(c) Other long term
liabilities |
|
10.706 |
10.251 |
|
(d) long-term
provisions |
|
13.914 |
10.380 |
|
Total Non-current
Liabilities (3) |
|
415.865 |
496.148 |
|
|
|
|
|
|
(4)
Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
229.005 |
0.000 |
|
(b) Trade
payables |
|
360.537 |
403.555 |
|
(c) Other
current liabilities |
|
214.101 |
141.938 |
|
(d) Short-term
provisions |
|
46.118 |
26.381 |
|
Total Current
Liabilities (4) |
|
849.761 |
571.874 |
|
|
|
|
|
|
TOTAL |
|
2437.645 |
2084.728 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
784.181 |
346.458 |
|
(ii)
Intangible Assets |
|
4.113 |
0.000 |
|
(iii)
Capital work-in-progress |
|
193.187 |
352.902 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
210.080 |
189.998 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1191.561 |
889.358 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
468.550 |
400.050 |
|
(c) Trade
receivables |
|
522.910 |
382.883 |
|
(d) Cash
and cash equivalents |
|
177.430 |
344.195 |
|
(e)
Short-term loans and advances |
|
71.305 |
63.623 |
|
(f) Other
current assets |
|
5.889 |
4.619 |
|
Total
Current Assets |
|
1246.084 |
1195.370 |
|
|
|
|
|
|
TOTAL |
|
2437.645 |
2084.728 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
286.290 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
624.659 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
910.949 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
287.962 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
287.962 |
|
|
DEFERRED TAX LIABILITIES |
|
|
9.261 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1208.172 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
358.821 |
|
|
Capital work-in-progress |
|
|
255.250 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
614.071 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
297.992 |
|
|
Sundry Debtors |
|
|
397.877 |
|
|
Cash & Bank Balances |
|
|
220.499 |
|
|
Other Current Assets |
|
|
112.393 |
|
|
Loans & Advances |
|
|
13.471 |
|
Total
Current Assets |
|
|
1042.232 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
410.935 |
|
|
Other Current Liabilities |
|
|
28.449 |
|
|
Provisions |
|
|
8.748 |
|
Total
Current Liabilities |
|
|
448.132 |
|
|
Net Current Assets |
|
|
594.100 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1208.172 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (Gross) |
2756.500 |
2125.200 |
1838.497 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
285.300 |
179.300 |
116.336 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
45.800 |
20.200 |
18.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
239.500 |
159.100 |
97.594 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
84.200 |
53.300 |
36.151 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
155.300 |
105.800 |
61.443 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
532.300 |
426.500 |
365.069 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
687.600 |
532.300 |
426.512 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
231.786 |
154.888 |
|
|
|
|
Service Income |
47.989 |
53.793 |
|
|
|
TOTAL EARNINGS |
279.775 |
208.681 |
166.457 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Materials and Components |
345.995 |
180.955 |
218.858 |
|
|
|
Capital Goods |
69.923 |
6.593 |
3.835 |
|
|
TOTAL IMPORTS |
415.918 |
187.548 |
222.693 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.43 |
3.84 |
2.15 |
|
%20PRIVATE%20LIMITED%20-%20234073%2029-Aug-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.69
|
7.49
|
5.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.67
|
9.19
|
6.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.16
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.51
|
0.45
|
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
2.09
|
2.33 |
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 |
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 The Millenia, Tower B, 4th Floor, Murphy Road, Ulsoor, Bangalore – 560 008, Karnataka, India to the present address w.e.f. 15.06.2012
BACKGROUND
Subject was incorporated under the Indian Companies Act, 1956 on November 22, 1995 as GE Silicones (India) Private Limited. The name was changed to Momentive Performance Materials (India) Private Limited with effect from December 29, 2006.
The Company is primarily involved in the manufacture (including manufacture through sub-contract) and distribution of silicone and silicone related products. The company has manufacturing facility in Chennai, India.
FUTURE PROSPECTS:
The Company will continue to expand the product offerings through research and development initiatives. Through these innovation initiatives they will continue to create new generations of products and services which will drive revenue and earnings growth.
The directors believe that, Momentive Combination will present opportunities to increase their revenues by leveraging each of their and MSC's respective global footprints and technology platforms. Further, they anticipate the Momentive Combination will provide opportunities to streamline their business and reduce their cost structure.
EXPANSION,
MODERNISATION AND DIVERSIFICATION:
Pashmina Project
The company has successfully started the production activities at the Pashmina plant Phase II at SIPCOT Industrial Estate at Oragadam, Tamilnadu. The state of art Silicones manufacturing plant produces a wide range of Silicones and its derivatives to cater to the specialized requirements of various Industry segments such as Automotive, Construction, Textiles, Oil and Gas, Agriculture, Cosmetics and Healthcare, to name a few. The installed capacity is around 10000 MT per annum. Pashmina is a zero discharge plant, underscoring Momentive’s commitment to take utmost care of the environment.
Eden Project
To combine Momentive’s global resources and expertise with India’s world class research talent, the Research and Development Centre at Bangalore (Project Eden) was successfully commissioned. The Technology center shall provide cutting edge solutions and lead development of the next generation of Momentive’s products and processes. The R&D Centre and Corporate Office of the Company is registered as a 100% Export Oriented Unit.
UNSECURED LOAN
|
Particular |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long Term Borrowing |
|
|
|
Other external commercial borrowings |
244.272 |
268.470 |
|
Total |
244.272 |
268.470 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Bank guarantees |
2.000 |
1.000 |
|
Disputed Income Tax matters |
0.367 |
3.690 |
|
Disputed Excise Duty matters |
10.299 |
6.866 |
|
Disputed Sales Tax matters |
4.183 |
10.117 |
|
Claims against the Company not acknowledged as debts |
3.950 |
4.450 |
Note
a) It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above pending resolution of the respective proceedings.
b) The Company does not expect any reimbursements in respect of the above contingent liabilities
FIXED ASSETS
¯
Tangible
Assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
¯
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.69.36 |
|
|
1 |
Rs.106.03 |
|
Euro |
1 |
Rs.91.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
51 |
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.