……….1. Summary Information
|
|
|
Country |
India |
|
Company Name |
PIERLITE INDIA
PRIVATE LIMITED |
Principal Name 1 |
Simon Charles Gerard |
|
Status |
Moderate |
Principal Name 2 |
Gary Savage |
|
|
|
Registration # |
04-031172 |
|
Street Address |
Rakhial Road, Ahmedabad – 380 023, Gujarat, India |
||
|
Established Date |
22.11.1996 |
SIC Code |
-- |
|
Telephone# |
91-79-22732161 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-79-22775077 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Switchgear |
|
|
# of employees |
Not Available |
Product Name 2 |
Lighting products |
|
Paid up capital |
Rs.
371,755,000 Millions |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
16 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B
(27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
Australia |
Gerard Lighting PTY Limited |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
194,715,000 |
Current Liabilities |
75,563,000 |
|
Inventories |
105,538,000 |
Long-term Liabilities |
36,000 |
|
Fixed Assets |
90,381,000 |
Other Liabilities |
2,289,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
77,888,000 |
|
Invest& other Assets |
782,000 |
Retained Earnings |
(58,227,000) |
|
|
|
Net Worth |
313,528,000 |
|
Total Assets |
391,416,000 |
Total Liab. & Equity |
319,416,000 |
|
Total Assets (Previous Year) |
263,267,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
302,904,000 |
Net Profit |
(12,678,000) |
|
Sales(Previous yr) |
262,850,000 |
Net Profit(Prev.yr) |
(11,455,000) |
MIRA INFORM
REPORT
|
Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
PIERLITE INDIA PRIVATE LIMITED [w.e.f. 29.09.2007] |
|
|
|
|
Formerly Known
As : |
GERARD ELECTRIC INDIA PRIVETE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.11.1996 |
|
|
|
|
Com. Reg. No.: |
04-031172 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 371.755 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31110GJ1996PTC031172 |
|
|
|
|
PAN No.: |
AACCG1389H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is in the business of Manufacturing and
trading of Switchgears and Lighting Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1254000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears some accumulated losses recorded by the company. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
Rakhial Road, Ahmedabad – 380 023, Gujarat, India |
|
Tel. No.: |
91-79-22732161/ 22782623/ 4/ 5 |
|
Fax No.: |
91-79-22775077 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
203/ 204, 2nd Floor, Shreya House, Pereira Hill, Off
Andheri – Kurla Road, Andjeri (East), Mumbai – 400 099, Maharashtra, India |
|
Tel. No.: |
91-22-66952666 |
|
Fax No.: |
91-22-66834988 |
|
E-Mail : |
|
|
|
|
|
Sales Office 1 : |
154/ 24A, 2nd Floor, Nelson Manickam Road, Mehta Nagar,
Chennai – 600 029, Tamilnadu, India |
|
Tel. No.: |
91-44-23742951 |
|
Fax No.: |
91-44-43582440 |
|
E-Mail : |
|
|
|
|
|
Sales Office 2 : |
A – 92 C, Nambardar Estate, 1st Floor, Talmoor Nagar, New
Friends Colony, New Delhi – 110025, India |
|
Tel. No.: |
91-11-462199996 |
|
Fax No.: |
91-11-46219998 |
|
E-Mail : |
|
|
|
|
|
Sales Office 3 : |
21/2, Eat Street, 2nd Floor, Gandhi Bazaar, Basavanagudi, Bangalore
– 560004, Karnataka, India |
|
Tel. No.: |
91-80-26619987 |
|
E-Mail : |
|
|
|
|
|
Sales Office 4 : |
“Sree Rama Bhavanamu” Road No. 5, Plot No. 176, West Mareedpally (Above Food World), Secunderabad – 500026, Andhra Pradesh, India |
|
Tel. No.: |
91-40-66312732 |
|
Fax No.: |
91-40-65320192 |
|
E-Mail : |
|
|
|
|
|
Sales Office 5 : |
403, 3rd, Floor, Shalimar Complex, Church Road, Jaipur – 302001, Rajasthan India |
|
Tel. No.: |
91-141-5107062 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rakesh Chandra Kasliwal |
||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||
|
Address : |
18-Bl, Suyog Sector-5, Prahlad Nagarl, Near |
||||||||||||||||||
|
Date of Birth/Age : |
11.09.1951 |
||||||||||||||||||
|
Date of Appointment : |
17.12.1997 |
||||||||||||||||||
|
Voter ID No.: |
GJ/064/1083738 |
||||||||||||||||||
|
PAN No.: |
AFWPK0202K |
||||||||||||||||||
|
DIN No.: |
00061195 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Simon Charles Gerard |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
216, Childers Street, North Australia - 5006 |
||||||||||||||||||
|
Date of Birth/Age : |
22.06.1973 |
||||||||||||||||||
|
Date of Appointment : |
04.06.2010 |
||||||||||||||||||
|
DIN No.: |
00633176 |
||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Gary Savage |
||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||
|
Address : |
Lot 3, White Head Road, Mylore, Australia - 5153 |
||||||||||||||||||
|
Date of Birth/Age : |
29.09.1960 |
||||||||||||||||||
|
Date of Appointment : |
04.06.2010 |
||||||||||||||||||
|
DIN No.: |
03119857 |
||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Jagdish Kumar Parikh |
|
Designation : |
Company Secretary |
|
Address : |
9, 2nd Floor, Shriji Apartment,
Swaminarayan Colony, Rambaug, Mani Nagar, Ahmedabad-380008, |
|
Date of Birth/Age : |
17.08.1959 |
|
Date of Appointment : |
29.01.2001 |
|
PAN No.: |
AAWPP5640H |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Gerard Lighting PTY Limited, South Australia |
|
74351106 |
|
Simon Charles Gerard, South Australia |
|
3 |
|
Total
|
|
74351109 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
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 : |
The Company is in the business of Manufacturing and
trading of Switchgears and Lighting Products. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank of India, Ahmedabad Corporate Banking Branch, 2nd
Floor, BOI Building, Bhadra Ahmedabad – 380001, Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
||||||||||||
|
|
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
B B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N M Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra , India |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Holding Company: |
Gerard Lighting PTY Limited, Australia |
|
|
|
|
Fellow
Subsidiary: |
·
Pierlite Australia PTY Limited ·
LCL Manufacturing PTY Limited ·
Inlite PTY Limited ·
Austube PTY Limited |
|
|
|
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital : 420.000 Millions
Issued, Subscribed & Paid-up Capital : 371.755 Millions
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76000000 |
Equity Shares |
Rs.5/- each |
Rs. 380.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
74351109 |
Equity Shares |
Rs.5/- each |
Rs. 371.755 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
371.755 |
251.835 |
202.955 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
13.327 |
|
|
4] (Accumulated Losses) |
(58.227) |
(45.549) |
(47.431) |
|
|
NETWORTH |
313.528 |
206.286 |
168.851 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.036 |
0.193 |
35.121 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.036 |
0.193 |
35.121 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
313.564 |
206.479 |
203.972 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
90.381 |
84.928 |
87.685 |
|
|
Capital work-in-progress |
0.754 |
4.729 |
0.913 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.028 |
0.028 |
0.028 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
105.538
|
85.759 |
96.909 |
|
|
Sundry Debtors |
60.686
|
46.781 |
37.950 |
|
|
Cash & Bank Balances |
35.239
|
22.981 |
9.171 |
|
|
Other Current Assets |
9.515
|
9.258 |
0.000 |
|
|
Loans & Advances |
89.275
|
8.803 |
16.325 |
|
Total
Current Assets |
300.253
|
173.582 |
160.355 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
52.792
|
37.596 |
34.488 |
|
|
Other Current Liabilities |
22.771
|
17.250 |
8.623 |
|
|
Provisions |
2.289
|
1.942 |
1.898 |
|
Total
Current Liabilities |
77.852
|
56.788 |
45.009 |
|
|
Net Current Assets |
222.401
|
116.794 |
115.346 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
313.564 |
206.479 |
203.972 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Turnover |
302.904 |
262.850 |
253.919 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (A-B) |
(12.678) |
(11.455) |
(1.978) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX |
(12.678) |
(11.455) |
(1.978) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(12.678) |
(11.455) |
(1.978) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Income |
0.236 |
3.297 |
NA |
|
|
|
FOB Value of Export |
1.248 |
0.000 |
|
|
|
TOTAL EARNINGS |
1.484 |
3.297 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
3.164 |
2.753 |
|
|
|
|
Raw Materials |
19.147 |
15.377 |
|
|
|
TOTAL IMPORTS |
22.311 |
18.130 |
13.700 |
|
|
|
|
|
|
|
|
|
|
Earnings /
loss Per Share (Rs.) |
(0.25) |
(0.27) |
(0.05) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.18)
|
(4.36) |
(0.78) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.25)
|
(4.43) |
(0.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04)
|
(0.05) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.25
|
0.27 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.86
|
3.06 |
3.56 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BACKGROUND
The Company was
incorporated on 22nd November 1996. The company is a subsidiary of Gerard Lighting
Pty Ltd, a Company incorporated under the Laws of Australia.
The Company is in
the business of Manufacturing and trading of Switchgears and Lighting Products
at Ahmedabad. Pierlite was established in Australia in the 1940's and
originally manufactured Pier Lights as its name suggests. The company's focus
later turned to hazardous and adverse location luminaires and over the coming
years its product range diversified substantially. In the late 1980's the
company was acquired by the Gerard group. Company has various Branches as a
marketing office in across India. The manufacturing facility based at Ahmedabad
is spread over 22,000 sq. meters of land.
REVIEW OF OPERATIONS:
During the year under review, the company€™s sales turnover (Net of Excise) amounted to Rs. 302.904 millions as against of Rs. 262.85 millions of the previous year. The Company ended the year with an operating loss of Rs. 12.678 Millions
During the year, the company entered into an Exclusive Distribution Agreement with Kolkata
Based B.P. Projects Private Limited’ for their high mast products and poles. During year, the paid-up equity share capital increased by Rs. 119.920 millions, on account of allotment of Equity Shares to Promoters.
CONTINGENT LIABILITY
(Rs.
in millions)
|
Particulars |
As
on 31.03.2012 |
As on 31.03.2011 |
|
Contracts remaining to be executed on capital Accounts and not provided for |
3.563 |
2.610 |
|
Additional sales tax liability in respect of interstate sales where the requisite forms (C form) have not been received and submitted as required under the sales tax laws |
2.854 |
1.700 |
|
Dispute in relation to valuation of excisable goods for AY 07-08 and 08-09 |
1.531 |
1.531 |
|
Dispute in relation to wrongful availment of Cenvat credit |
0.243 |
0.243 |
|
Sales tax related matters for AY 2004-05 |
4.445 |
4.445 |
FIXED ASSETS
·
Factory Building
·
Plant and Equipment
·
Factory Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.