|
Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
JINDAL ALUMINIUM LIMITED |
|
|
|
|
Registered
Office : |
Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
14.07.1970 |
|
|
|
|
Com. Reg. No.: |
08-002806 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.510.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27203KA1970PLC002806 [New] U85110KA1975PLC002806 [Old] |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4324M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Aluminium Extrusions. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 32620000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is the flagships company of the Jindal Group of Industries a
renewed industrial house in India. It is a well established and reputed
company having fine track. Financial positions of the company appear to be
sound. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for normal 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
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China in
the ranking part of EY’s Capital Confidence Barometer report based on a survey
across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of payments
is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of 18.4
% between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
July 5, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
July 5, 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/ Factory : |
Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka, India |
|
Tel. No.: |
91-80-23715555 (6 Lines) |
|
Fax No.: |
91-80-23713333 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located at : Ø Ahmedabad Ø Kochi Ø New Delhi Ø Chennai Ø Mumbai Ø Pune |
DIRECTORS
As on 22.07.2013
|
Name : |
Mr. Hari Shanker Bansal |
|
Designation : |
Managing director |
|
Address : |
Bansal Villa, Green Avenue, Behind Bhattar Road, Vasant Kunj, New
Delhi – 110070, India |
|
Date of Birth/Age : |
22.09.1945 |
|
Qualification : |
HSE |
|
Date of Appointment : |
01.08.2007 |
|
PAN No.: |
ACWPB0593R |
|
DIN No.: |
00034660 |
|
|
|
|
Name : |
Mr. Sitaram Jindal |
|
Designation : |
Managing director |
|
Address : |
Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka, India |
|
Date of Birth/Age : |
12.09.1933 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
11.06.1975 |
|
PAN No.: |
ABIPJ6453B |
|
DIN No.: |
00112560 |
|
|
|
|
Name : |
Mr. Bajrang Dass Garg |
|
Designation : |
Whole-time director |
|
Address : |
Jindal Nagar, Tumkur Road, Bangalore - 560073, Karnataka, India |
|
Date of Birth/Age : |
24.09.1955 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
09.08.2011 |
|
PAN No.: |
AAQPG0587Q |
|
DIN No.: |
00008059 |
|
|
|
|
Name : |
Mr. Krishnaswamy Iyengar Ramaswamy Iyengar Raghunath |
|
Designation : |
Whole-time director |
|
Address : |
1202, Shantala Rajajinagar, 2nd Stage, Bangalore - 560073,
Karnataka, India |
|
Date of Birth/Age : |
23.02.1945 |
|
Qualification : |
BE |
|
Date of Appointment : |
28.08.1996 |
|
PAN No.: |
AALPR6079B |
|
DIN No.: |
00009992 |
|
|
|
|
Name : |
Mrs. Vaidehi Kanoria |
|
Designation : |
Director |
|
Address : |
A 45, Vasant Marg, Vasant Vihar, New Delhi – 110026, India |
|
Date of Birth/Age : |
27.10.1983 |
|
Date of Appointment : |
23.07.2002 |
|
PAN No.: |
AHPPK1434N |
|
DIN No.: |
00013028 |
|
|
|
|
Name : |
Mr. Vinod Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
3/77, Punjabi Bagh, New Delhi – 110026, India |
|
Date of Birth/Age : |
19.10.1961 |
|
Date of Appointment : |
06.11.2009 |
|
PAN No.: |
AANPA1426H |
|
DIN No.: |
00375239 |
|
|
|
|
Name : |
Mr. Pragun Jindal Khaitan |
|
Designation : |
Director |
|
Address : |
Sterling Apartments, Plot No. 14/B, 7th Floor, 38G Deshmukh
Marg, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
09.08.1992 |
|
Date of Appointment : |
09.08.2010 |
|
PAN No.: |
BSWPK6241C |
|
DIN No.: |
03181533 |
|
|
|
|
Name : |
Mr. Pratik Pravin Agarwal |
|
Designation : |
Director |
|
Address : |
217 Samudra Mahal, Dr. Annie, Besant Road, Worli, Mumbai – 400018,
Maharashtra, India |
|
Date of Birth/Age : |
02.12.1982 |
|
Date of Appointment : |
18.04.2013 |
|
DIN No.: |
03040062 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Aggarwal |
|
Designation : |
Secretary |
|
Address : |
Jindal Nagar, Tumkur Road, Bangalore - 560073, Karnataka, India |
|
Date of Birth/Age : |
12.10.1976 |
|
Date of Appointment : |
09.03.2013 |
|
PAN No.: |
AEGPA3450A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOTE:
SHAREHOLDING DETAILS FILE ATTACHED
As on 22.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
21.41 |
|
Directors or relatives of Directors |
53.91 |
|
Other top fifty shareholders |
24.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Extrusions. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Ø IDBI Bank
Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra,
India Ø The Honkong
Shanghai Banking Corporation Limited, No. 7, Mahatma Gandhi Road, Banglore –
560007, Karnataka, India Ø Standard Chartered
Bank, No. 112, Serenity, 5th Block, Koramangala Industrial Area,
Banglore – 560095, Karnataka, India Ø Canara Bank,
Industrial Finance Branch, No. 83, Richmond Road, Banglore – 560025,
Karnataka, India Ø ICICI Bank
Limited, ICICI Bank Tower, No. 1, Commissariate Road, Banglore – 560025,
Karnataka, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S V Surana and Company Chartered Accountants |
|
Address : |
4705, 7th Floor,
High Point 1V 45 Palace Road, Bangalore – 560001, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABIPS1056R |
|
|
|
|
Joint venture : |
A L Thuraya
Mining LLC |
|
|
|
|
Subsidiaries : |
Jindal Aluminium
Rolling Limited [U28121MH2011PLC219872] |
|
|
|
|
Associate : |
Drugless Health
Care (India) Limited CN [U27104KA2003PLC031567] |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5100000 |
Equity Shares |
Rs.100/- each |
Rs.510.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5100000 |
Equity Shares |
Rs.100/- each |
Rs.510.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
510.000 |
510.000 |
210.168 |
|
(b) Reserves & Surplus |
7645.247 |
7522.038 |
7656.095 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
8155.247 |
8032.038 |
7866.263 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2142.872 |
1324.974 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
117.342 |
10.400 |
45.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
16.130 |
18.372 |
20.402 |
|
Total Non-current Liabilities (3) |
2276.344 |
1353.746 |
65.402 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1760.336 |
524.421 |
375.728 |
|
(b) Trade payables |
212.858 |
110.945 |
44.614 |
|
(c) Other current
liabilities |
376.889 |
487.046 |
422.896 |
|
(d) Short-term provisions |
155.473 |
64.328 |
71.372 |
|
Total Current Liabilities (4) |
2505.556 |
1186.740 |
914.610 |
|
|
|
|
|
|
TOTAL |
12937.147 |
10572.524 |
8846.275 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8011.178 |
5524.023 |
5464.774 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
607.088 |
970.012 |
35.100 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
714.580 |
1321.022 |
1268.620 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.451 |
578.044 |
294.597 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
9335.297 |
8393.101 |
7063.091 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
533.351 |
0.143 |
176.173 |
|
(b) Inventories |
1158.000 |
326.908 |
345.307 |
|
(c) Trade receivables |
676.273 |
456.505 |
514.327 |
|
(d) Cash and cash
equivalents |
143.250 |
612.788 |
588.858 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
1090.976 |
783.079 |
158.519 |
|
Total Current Assets |
3601.850 |
2179.423 |
1783.184 |
|
|
|
|
|
|
TOTAL |
12937.147 |
10572.524 |
8846.275 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8999.197 |
8128.112 |
7420.970 |
|
|
|
Other Income |
270.747 |
333.147 |
288.920 |
|
|
|
TOTAL |
9269.944 |
8461.259 |
7709.890 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
7128.923 |
5974.778 |
5293.710 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(619.893) |
(47.380) |
(73.621) |
|
|
|
Employee benefit expense |
340.803 |
271.042 |
239.474 |
|
|
|
Other expenses |
1268.763 |
1321.566 |
1189.728 |
|
|
|
TOTAL |
8118.596 |
7520.006 |
6649.291 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1151.348 |
941.253 |
1060.599 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
124.500 |
34.128 |
22.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1026.848 |
907.125 |
1037.735 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
108.916 |
54.072 |
48.568 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
917.932 |
853.053 |
989.167 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
274.823 |
171.207 |
347.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
643.109 |
681.846 |
641.988 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
710.105 |
774.753 |
603.800 |
|
|
TOTAL EARNINGS |
710.105 |
|
|
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
N.A. |
N.A. |
391.800 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
126.10 |
133.70 |
133.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.94
|
8.06 |
8.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.20
|
10.49 |
13.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.90
|
10.30 |
13.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.11 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.48
|
0.23 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
1.84 |
1.95 |
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
ITA (INCOME TAX APPEAL) CASE NO.:
23
CASE YEAR: 2013 HIGH COURT OF
KARNATAKA – PRINCIPAL BENCH AT BANGALORE ITA 23/2013 CASE PENDING
|
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
2.500 |
2.500 |
|
Public Deposits |
34.819 |
27.020 |
|
Deposits from others |
5.400 |
1.395 |
|
Loans and advance from related parties |
36.274 |
8.339 |
|
|
|
|
|
Total |
78.993 |
39.254 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10430408 |
11/09/2013 * |
275,000,000.00 |
Standard Chartered Bank |
NO. 112, SERENITY, 5TH BLOCK, KORAMANGALA INDUSTRIAL AREA, BANGALORE,
Karnataka - 560095, INDIA |
B85412617 |
|
2 |
10331292 |
06/05/2013 * |
450,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
NO. 7 , Mahatma Gandhi Road,, Bangalore, Karnataka - 560001, INDIA |
B74608845 |
|
3 |
10331093 |
28/05/2013 * |
650,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
NO. 7 , Mahatma Gandhi Road,, Bangalore, Karnataka - 560001, INDIA |
B76766435 |
|
4 |
10317082 |
10/04/2013 * |
2,044,000,000.00 |
Standard Chartered Bank |
NO.112, 3RD FLOOR, VAISHNAVI SERINITY, 5TH BLOCK, KORAMANGALA
INDUSTRIAL AREA, BANGALORE, Karnataka |
B73570822 |
|
5 |
10312216 |
13/02/2013 * |
587,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS, NO 1 COMMISSARIATE ROAD, BANGALORE, Karnataka -
560025, INDIA |
B69920312 |
|
6 |
10103021 |
02/01/2013 * |
500,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005,
INDIA |
B66069261 |
|
7 |
10083789 |
20/03/2013 * |
800,000,000.00 |
Standard Chartered Bank |
NO. 112, SERENITY, 5TH BLOCK, KORAMANGALA INDUSTRIAL AREA, BANGALORE,
Karnataka - 560095, INDIA |
B71204663 |
|
8 |
80032111 |
02/03/2013 * |
200,000,000.00 |
CANARA BANK |
INDUSTRIAL FINANCE BRANCH, NO 83 RICHMOND ROAD, B |
B70380928 |
* Date of charge modification
FIXED ASSETS
Ø Land
Ø Leasehold Land
Ø Buildings
Ø Road
Ø Factory Shed and Building
Ø Plant and Machinery
Ø Furniture and Fittings
Ø Office And Other Equipments
Ø Vehicles
Ø Electric Elevator
Ø Data Processing Equipment
Ø Solar Water Heating System
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 records 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 records 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] 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.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
61 |
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.