MIRA
INFORM REPORT
|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIEMENS ENTERPRISE COMMUNICATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
130, Pandurang Budhkar
Marg, Worli, Mumbai –
400018, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.09.2011 |
|
|
|
|
Date of
Incorporation : |
11.01.2007 |
|
|
|
|
Com. Reg. No.: |
11-166937 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 610.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31908MH2007FTC166937 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS54870E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS5375F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Provides Convergence Communications, video – conferencing, call centre
networking, mobility, teleworking and multimedia
solutions for enterprises. |
|
|
|
|
No. of Employees
: |
324 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 3000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Siemens Group company. It is a well established and reputed company having fine track record.
The company is progressing well. It receives good operational and financial
support from group company. Trade relations are fair. Business is active.
Payments are reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Santosh Veer |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-33607479 |
|
Date : |
14.01.2013 |
LOCATIONS
|
Registered Office : |
130, Pandurang Budhkar
Marg, Worli, Mumbai –
400018, Maharashtra, India |
|
Tel. No.: |
91-22-24987415/ 24987000 / 05 / 24987539 / 24987478 / 33607328 /
33607479 |
|
Fax No.: |
91-22-24987500/ 24987124/ 24968095 / 24987043 / 24987303 / 33607303 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
12000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
|
DIRECTORS
AS ON 09.03.2012
|
Name : |
Mr. Roland Max Harzer |
|
Designation : |
Director |
|
Address : |
Erlhausen 10, Weichs,
D85258 |
|
Date of Birth/Age : |
30.04.1955 |
|
Date of Appointment : |
04.03.2010 |
|
DIN No. : |
03010392 |
|
|
|
|
Name : |
Mr. Anilkumar Prakash
Jain |
|
Designation : |
Director |
|
Address : |
7/4, Twinkle Star Society, Ghatla marg, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Date of Birth/Age : |
20.03.1963 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.03.2010 |
|
DIN No. : |
02819815 |
|
|
|
|
Name : |
Mr. Chetan Mahavir
Utture |
|
Designation : |
Director |
|
Address : |
B/2, 602, Shubharmbh Phase 2 Cooperative
Society, Tikujiniwadi Road, Manpada,
Near Happy Vally, Thane (West)-400610, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1971 |
|
Date of Appointment : |
01.01.2011 |
|
DIN No. : |
03359005 |
KEY EXECUTIVES
|
Name : |
Mr. Santosh Veer |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.03.2012
|
Names of Shareholders |
No. of Shares |
|
EN Overseas Holdings B.V – Netherlands
|
60999999 |
|
EN Germany Holdings B.V. – Netherlands
|
1 |
|
TOTAL
|
61000000 |
AS ON 09.03.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provides Convergence Communications, video – conferencing, call centre
networking, mobility, teleworking and multimedia
solutions for enterprises. |
|
|
|
|
Exports : |
|
|
Countries : |
·
Nepal ·
Taiwan ·
UK ·
Sri Lanka ·
Bangladesh |
|
|
|
|
Imports : |
|
|
Products : |
Spare Parts |
|
Countries : |
·
Germany ·
Europe |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
Corporate |
|
|
|
|
No. of Employees : |
324 (Approximately) |
|
|
|
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel,
Mumbai-400013, Maharashtra, India ·
HDFC Bank Limited, Trade House, Kamal Mills, Lower Parel,
Mumbai-400013, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, Dr. Annie Besant Road, opposite Shiv Sagar Estate, Worli, Mumbai-400018, Maharashtra,
India |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company : |
·
EN Overseas Holdings B.V., Netherlands |
|
|
|
|
Ultimate Holding Company : |
·
Gores Group LLC, USA |
|
|
|
|
Intermediate Holding Company : |
·
Enterprise Networks Holdings B.V., Netherlands ·
EN Germany Holdings B.V., Netherlands ·
Siemens Enterprise Communications Beteiligungen GmbH and Company KG, Germany ·
Siemens Enterprise Communications GmbH and
Company KG, Germany |
|
|
|
|
Fellow Subsidiaries : |
·
Siemens Enterprise Communications Limited, Hong
Kong ·
Siemens Enterprise Communications N. V., Belgium ·
Siemens Enterprise Communications Limited, United
Kingdom ·
Siemens Enterprise Communications Inc., USA ·
Enterasys Networks
Distribution Limited, Ireland ·
Enterprise Networks Holdings, Inc USA |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
62000000 |
Equity Shares |
Rs.10/- each |
Rs. 620.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61000000 |
Equity Shares |
Rs.10/- each |
Rs. 610.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
610.000 |
610.000 |
610.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
149.386 |
63.219 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
759.386 |
673.219 |
610.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
OTHERS – PROFIT AND LOSS ACCOUNT |
0.000 |
0.000 |
3.428 |
|
|
|
|
|
|
|
|
TOTAL |
759.386 |
673.219 |
613.428 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
104.896 |
211.516 |
309.512 |
|
|
Capital work-in-progress |
0.166 |
0.354 |
0.038 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
49.018 |
41.311 |
24.607 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
114.394
|
92.334
|
50.294
|
|
|
Sundry Debtors |
541.027
|
624.204
|
394.337
|
|
|
Cash & Bank Balances |
416.168
|
316.996
|
490.760
|
|
|
Other Current Assets |
14.018
|
7.912
|
10.209
|
|
|
Loans & Advances |
92.063
|
73.346
|
82.866
|
|
Total
Current Assets |
1177.670
|
1114.792 |
1028.466 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
309.562
|
443.382
|
450.159
|
|
|
Other Current Liabilities |
61.767
|
31.287
|
60.597
|
|
|
Provisions |
201.035
|
220.085
|
238.439
|
|
Total
Current Liabilities |
572.364
|
694.754 |
749.195 |
|
|
Net Current Assets |
605.306
|
420.038
|
279.271
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
759.386 |
673.219 |
613.428 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2032.880 |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2032.880 |
1814.970 |
1660.380 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Financial |
1897.470 |
1716.260 |
1639.730 |
|
|
|
Depreciation |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1897.470 |
1716.260 |
1639.730 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
135.410 |
98.700 |
20.650 |
|
|
|
|
|
|
|
|
|
|
TAX |
(49.240) |
(38.910) |
14.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
86.170 |
59.790 |
6.570 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
26.883 |
23.693 |
|
|
|
Commission Earnings |
NA |
28.973 |
26.779 |
|
|
|
Other Earnings |
NA |
6.446 |
4.999 |
|
|
TOTAL EARNINGS |
NA |
62.302 |
55.471 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
NA |
611.099 |
552.505 |
|
|
|
Capital Goods |
NA |
2.466 |
1.525 |
|
|
TOTAL IMPORTS |
NA |
613.565 |
554.030 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.41 |
0.98 |
0.11 |
|
|
Particulars |
|
|
2011-2012 |
|
Sales Turnover (Approximately) |
|
|
2250.000 |
|
|
|
|
|
The above information has been parted by Mr. Santosh
Veer.
KEY RATIOS
|
PARTICULARS |
|
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
PAT / Total Income |
(%) |
4.24
|
3.29 |
0.40
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.17
|
7.22 |
1.54
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.15 |
0.03
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.75
|
1.03 |
1.23
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06
|
1.60 |
1.37
|
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 |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs. In Millions)
|
Particulars |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
309.562 |
443.382 |
450.159 |
|
TOTAL |
309.562 |
443.382 |
450.159 |
BACKGROUND
Subject was incorporated
on January 11, 2007. The Company commenced operations on August 1, 2007. The
Company has purchased the Information and Communications (Com EN) division of
Siemens Limited with effect from August 1, 2007.
The Company
provides convergence communications, video conferencing, call centre
networking, mobility, teleworking and multimedia
solutions for enterprises.
OPERATIONS
For FY 2010-11,
turnover of the company increased to Rs. 2001
Millions from that of Rs. 1798 Millions in the
previous year. This shows impressive growth of 11.3% YoY.
Profit before tax rose to Rs. 135.410 Millions from
that of Rs. 98.700 Millions for current financial
year registering whooping growth. This substantial improvement in PBT is
attributed to various cost cutting measures initiated by the company during the
year. Net profit after tax surged to Rs. 86.170
Millions as compared to Rs.59.790 Millions in the previous year. Overall, the
company has made substantial improvement on the financial front.
The success they
achieved during fiscal 2011 confirms that they are on the right track. They
have been able to create value for their customers and forge partnerships for
mutual growth and prosperity. Their customers have placed their confidence in
their products, services and solutions, for which they are thankful to them.
The trend that they see very clearly is that sustainable business is the new
mantra within their organization as well as with their customers, partners and
suppliers. Hence, their focus for the near future will be on sustainable and
capital efficient growth.
FUTURE OUTLOOK
Enterprise Communication market in India is keeping the growth track.
The overall market is still growing at 17% per annum.
VoIP will continue to
grow at faster pace. Still major market in India will be TDM centric for next 2
to 3 years. Applications are taking center stage in voice platform decisions.
Overall decisions around enterprise communications are now shifting towards
Unified Communications deployment. Company has one of the strongest portfolio
and skill set to address this market opportunity.
Excellent growth
in Data Networking and Security market is well addressed by its Enterasys data infrastructure portfolio it is the best fit
for this growing market. Company is addressing this market opportunity with
reseller network as well as large system integration projects.
Video conferencing
has shown highest growth in adoption. The market can be addressed as standalone
Videoconferencing / Telepresence solutions as well as
part of integrated UC portfolio. These solutions will be more in demand now as
businesses are looking for cost cutting on travel expenses and earn carbon
credits. Natural extension to video conferencing business is Audio / Video
integration business and Company has the required technology tie ups and in
house skill set to address these system integration opportunities.
Specialized
vertical solutions for industries are in demand. Company has dedicated
solutions for Banking Industry and Hospitality Industry and they will be
addressing this specific market segment.
As an effort to
address larger IT Server and Storage market segment, Company has formed
strategic tie ups with Fujitsu. This will be a substantial business area in
FY2012. Communication is fast moving towards data centric solution, with this
alliance Company will enhance its offerings for Data center solution end to
end, i.e. from cooling solutions, security, access control, fire, active and
passive networking and now servers and storage.
Most of the
service market is still around Lifecycle services. Professional services market
is still nascent and very much scattered. Managed Services is substantially
large market but focused only on FMS and Data / Server managed services. No
vendor in the market offers managed services for Voice platforms. Company has
also started activities to offer Professional Services like Network Audit,
trainings etc.
Cloud services are
still emerging. Private Cloud for Enterprise Communication is more interesting
for many large enterprise customers and most of the cloud investments will be
in Private Clouds. Company has end to end offering to address these Hosted
communication business opportunities via service providers.
Company has
evolved over the past years from a pure voice centric player to a Solution
Provider and a true system integrator with strong project management
capabilities. This has enabled the company to execute end to end solution
encompassing voice, video, data, and security bundled with array of services.
Customer
communication requirements are becoming complex and there is a demand to
integrate their business processes and communication systems to improve
employee productivity and reduce cost. Company with its system integration
skills and business process knowledge is well positioned to address this fast
growing customer demand.
FORM 8
|
Corporate
identity number of the company |
U31908MH2007FTC166937 |
|
Name of the
company |
SIEMENS
ENTERPRISES COMMUNICATIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
130, Pandurang Budhkar
Marg, Worli, Mumbai -
400018, |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
10155246 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel, Mumbai-400013, Maharashtra,
India |
|
Nature of
instrument creating charge |
Supplemental
Letter Of Hypothecation of Stocks And Book Debts Dated 29th
September, 2011. |
|
Date of
instrument Creating the charge |
29.09.2011 |
|
Amount secured by
the charge |
Rs. 270.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest shall be
charged on all out standings at such rate as may be determined by the bank. Terms of repayment The amount of
cash credit/overdraft shall be repayable by borrower on demand made by bank. Margin The borrower
shall at all times during the continuance of this security keep and maintain
such margin of the security in favour of the bank as may be notified by the bank from
time to time. Extent and operation of the charge First Charge On
All Stocks And Book Debts Both Present And Future |
|
Short particulars
of the property charged (Including location of the property) |
First Charge On All
Stocks And Book Debts Both Present And Future |
|
Particulars of
the present modification |
Charge on the
hypothecated assets in respect of the Facility of Rs.
200.000 Millions has been extended as security for the additional Facility of
Rs.70.000 Millions. The amount of Facility stands increased from Rs. 200.000 Millions to Rs.
270.000 Millions. |
FIXED ASSETS
- Goodwill
- Technical
Know-how
- Commercial
rights
- Computers
- Tools and
Test Equipment
- Office
Equipment
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 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. 54.63 |
|
|
1 |
Rs. 88.17 |
|
Euro |
1 |
Rs. 73.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--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 |
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 |
|
63 |
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.