MIRA
INFORM REPORT
|
Report Date : |
22.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
CAE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 26 & 27, 1st Floor, Bandaramanahalli
Village, Anneshwara Panchayat, Kasaba Hoobli, Devanahalli Taluka, Bangalore –
562110, Karnataka |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.06.2003 |
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|
|
|
Com. Reg. No.: |
08-049299 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 484.926 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909KA2003PTC049299 |
|
|
|
|
IEC No.: |
0206003358 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAECM3338G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the business of design, development and
integration of hardware and software in the field of stimulation and
services. |
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|
|
|
No. of Employees
: |
52 (Approximately) (In Office - 48, In Branch - 4) |
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 1010000 |
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|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a part of Flight Training Device (Mauritius) Limited. It is an established company having a moderate track record. There
appear 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) |
|
|
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
|
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. Srinivasa Reddy K |
|
Designation : |
Director – Finance |
|
Contact No.: |
91-9900506247/ 9900024564 |
|
Date : |
21.01.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 26 & 27, 1st Floor, Bandaramanahalli
Village, Anneshwara Panchayat, Kasaba Hoobli, Devanahalli Taluka, Bangalore –
562110, Karnataka, India |
|
Tel. No.: |
91-80-26256000 |
|
Mobile No.: |
91-9900506247/ 9900024564 (Mr. Srinivasa Reddy K.) |
|
Fax No.: |
91-80-26256160 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
28621 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
905, Ansal Bhavan, 16KG Marg, New Delhi – 110001, India |
|
Tel. No.: |
91-11-42408472 |
|
Fax No.: |
91-11-42408472 |
|
E-Mail : |
|
|
Area : |
900 Sq. ft |
|
Location : |
Rented |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Pandanda Kariappa Madappa |
|
Designation : |
Director |
|
Address : |
10-B, Lee Road, Kolkata - 700020, West Bengal, India |
|
Date of Birth/Age : |
03.02.1965 |
|
Qualification : |
Chartered Accountant & MBA |
|
Experience : |
20 years |
|
PAN No.: |
AFWPK8213J |
|
|
|
|
Name : |
Mr. Mehrez Hached |
|
Designation : |
Director |
|
Address : |
A106, Sobha Emerald, Jakkur, Bangalore - 560092, Karnataka, India |
|
Date of Birth/Age : |
16.12.1962 |
|
Qualification : |
Ph.D - Engineering |
|
Experience : |
20 years |
|
PAN No.: |
ADDPH3299N |
|
|
|
|
Name : |
Mr. Ananth Ramaswami |
|
Designation : |
Director |
|
Address : |
No.582, Sadashiva Nagar, Bangalore - 560080, Karnataka, India |
|
Date of Birth/Age : |
03.06.1962 |
|
Qualification : |
BE - Mechanical |
|
Experience : |
24 years |
|
PAN No.: |
ADSPR8002Q |
KEY EXECUTIVES
|
Name : |
Mr. Srinivasa Reddy K |
|
Designation : |
Director – Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Flight Training Devices (Mauritius) Limited, Mauritius |
|
284,988 |
|
Macmet India Limited, India |
|
36,010 |
|
Distant Horizon Orchard Private Limited (formerly known as
Macmet Interactive Technologies Private Limited) |
|
54,007 |
|
Total |
|
375,005 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of design, development and
integration of hardware and software in the field of stimulation and
services. |
|
|
|
|
Agencies Held : |
Not Available (However, the company is a supplier of simulators in Civil Aviation and Militrary (Land, Air and Naval) to various countries and also importer of Electronic and software components for the development of Simulators across Civil and Defence sectors from various countries.) |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (60 Days) |
|
|
|
|
Purchasing : |
Credit (60 Days) |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s 1. The Director Combat Vehicle Research and
Development Establishment (CVRDE) Avadi, Chennai – 600054, Tamilnadu, India Fax: 91-44-26383661 2. The Director Naval Science and Technological Laboratory Defence Research and
Development Organization Government of India Vigyan Nagar, Visakhapatnam – 630027, Andhra Pradesh, India Fax: 0891-2559464 3. Director, Flight Mechanics and Control Division National Aerospace Laboratories PB No. 1779, HAL Airport Road, Bangalore-560017, Karnataka, India 4. The Senior General Manager Heavy Vehicles Factory Ministry of Defence Government of India Avadi, Chennai – 600054, Tamilnadu, India Fax: 044-26841735/ 26841746 5. Directorate of AMS Air Head Quarters B-3 Block, 12th Floor, CGO Complex, Lodhi Road, New Delhi – 110003,
India Fax: 91-11-24364771 |
|
|
|
|
No. of Employees : |
52 (Approximately) (In Office - 48, In Branch - 4) |
|
|
|
|
Bankers : |
Ø
The Bank of Nova Scotia, Bangalore
Branch, SN Towers, 25/2, M.G. Road, Bangalore – 560001, Karnataka, India Ø
HDFC Bank Limited, Gandhi Bazar
Branch, 119, Gandhi Bazar Main Road, Basavanagudi, Bangalore – 560004,
Karnataka, India Ø State
Bank of India, Yelahanka New Town Branch, Bangalore, Karnataka, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Singvi, Dev and Unni Chartered Accountants |
|
Address : |
# 29/4, 6th Floor, Trade Centre, Race Course Road,
Bangalore – 560001, Karnataka, India |
|
Tel. No.: |
91-80-22261371 |
|
Fax No.: |
91-80-22205469 |
|
E-Mail : |
|
|
|
|
|
Holding Company : |
Ø
Flight Training Device
(Mauritius) Limited Address: 10, Frere Felix
de Valois Street, Port Louis, Mauritius Brief
Description: Provides simulation and modelling technologies and integrated
training solutions for the civil aviation industry and defence customers |
|
|
|
|
Ultimate Holding Company : |
Ø CAE Inc., Canada
Address: 8585 Cote de Liesse, Saint Laurent, Quebec, Canada. H4T 1G6. Brief
Description: Provides simulation and modelling technologies and integrated training
solutions for the civil aviation industry and defence customers |
|
|
|
|
Fellow Subsidiaries : |
Ø CAE Elektronik GmbH, Germany Ø CAE (UK) PLC – Military Simulation Products Address: Innovation Drive York Road, Burgess Hill,
West Sussex, RH15 9TW, United Kingdom Brief Description: CAE UK provides a range of synthetic training equipment and services and is a world leader in the development and application of simulation and modelling technologies. Ø CAE Simulation Technologies Private Limited Address: 2nd and 3rd Floor, Survey No 26 and 27, Bandaramaranahalli Village, IVC Road, Uganwadi Post, Devanahalli Taluk, Bangalore-562110, Karnataka, India Brief Description: CSTPL undertakes to provide software development services and administrative support services to its AEs. It provides software for flight simulators, visual solutions for simulated training, modeling of airports and associated 3D models and testing of developed software and associated tools. Ø CAE Healthcare USA Inc. Address: 85, Nicholson Lane, San Jose, California – 95134 Brief Description: Provides simulation and modelling technologies and integrated training solutions for Healthcare / Hospitals. Ø CAE Singapore (S.E.A) Pte Limited Address: 33, UBI Avenue, 3#08-04, Singapore –
408868 Brief Description: Provides simulation and modelling technologies and integrated training solutions for the civil aviation industry and defence customers. Ø Sabena Airline Training Centre Inc. Address: 5010 E Falcon Drive, Mesa, Arizona,
85215, United States Brief Description: CAE Sabena Pilot Training Programmes
provide high quality, focused ab initio training to aspiring pilots across
the globe. Ø Presagis Canada Inc. Address: 4700 De La Savane, Suite #300, Montreal,
Quebec, Canada H4P 1T7 Brief Description: Provides software for modelling, simulation and embedded application development in Aerospace, Ground, Naval/Marine and other applications for modelling, simulation and embedded graphics markets. Ø CAE Centre Amsterdam B.V Address: Diamantlaan 3 2132 WV Hoofddorp, Netherlands 023 5671671 Brief Description: CAE Amsterdam offers a broad variety of wet and dry lease training services for Fokker 50/70/100 and Boeing 737NG operators. Furthermore, as a fully approved Flight Safety Training and Maintenance Training Organization, the centre offers a full package of services to maximize training efficiency for a long list of clients. Ø CAE Aviation Training B.V Address: Diamantlaan 32132WV HOOFDDORP Nederlands Brief Description: CAE Aviation provides high quality, focused ab initio training to aspiring pilots across the globe. |
|
|
|
|
Companies in which directors of the company are able to exercise
control of have significant influence : |
Ø Hatsoff Helicopter
Training Private Limited Address: Survey Nos.
3&4, Opposite ARDC Main Gate, HAL, Vibhuthipura, Marathahalli Post,
Bangalore – 560037, Karnataka, India Brief Description: The HATSOFF
Helicopter Training Centre offers a comprehensive turnkey facility for
Helicopter flight training on level D Simulator. It is into Training of
helicopter pilot by simulation of flying. |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
|
49500000 |
Compulsorily Convertible Preference Shares |
Rs. 10/- each |
Rs. 495.000 Millions |
|
|
Total |
|
Rs. 500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375005 |
Equity Shares |
Rs. 10/- each |
Rs. 3.750
Millions |
|
48117602 |
Compulsorily Convertible Preference Shares |
Rs. 10/- each |
Rs. 481.176
Millions |
|
|
Total |
|
Rs. 484.926 Millions |
(i) Reconciliation of the number of shares and amount outstanding at the
beginning and at the end of the reporting period:
Equity shares with voting rights:
|
Particulars |
31.03.2012 |
|
|
|
Number of shares |
Amount in
millions |
|
Opening balance |
375005 |
3.750 |
|
Fresh issue |
-- |
-- |
|
Bonus |
-- |
-- |
|
ESOP |
-- |
-- |
|
Conversion |
-- |
-- |
|
Buy back |
-- |
-- |
|
Closing balance |
375005 |
3.750 |
Preference shares with voting rights:
|
Particulars |
31.03.2012 |
|
|
|
Number of shares |
Amount in
millions |
|
Opening balance |
48117602 |
481.176 |
|
Fresh issue |
-- |
-- |
|
Bonus |
-- |
-- |
|
ESOP |
-- |
-- |
|
Conversion |
-- |
-- |
|
Buy back |
-- |
-- |
|
Closing balance |
48117602 |
481.176 |
(ii) Details of shares held by the holding company, the ultimate holding
company, their subsidiaries and associates
Equity shares with voting rights:
|
Particulars |
Number of shares |
|
|
31.03.2012 |
|
Flight Training Device, Mauritius-Holding Company |
284988 |
|
Macmet India Limited |
36010 |
|
Distant Horizon Orchard Private Limited |
54007 |
Preference shares with voting rights:
|
Particulars |
Number of shares |
|
|
31.03.2012 |
|
Flight Training Device, Mauritius-Holding
Company |
48117602 |
(iii) Details of shares held by each shareholder holding more than 5%
shares:
|
Particulars |
31.03.2012 |
|
|
|
Number of shares |
%of holding |
|
Equity shares with voting rights: |
|
|
|
Flight Training Device, Mauritius-Holding Company |
284988 |
76.00 |
|
Macmet India Limited |
36010 |
10.00 |
|
Distant Horizon Orchard Private Limited |
54007 |
14.00 |
|
|
|
|
|
Preference shares with voting rights: |
|
|
|
Flight Training Device, Mauritius-Holding
Company |
48117602 |
100.00 |
(iv) The rights, privileges and restriction on equity shares are those
as provided normally under the provision of the Companies Act, 1956.
(v) The date and quantum of conversion of Compulsorily Convertible Preference
Shares are not been specified at the time of issue.
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 |
484.926 |
484.926 |
484.926 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
8.750 |
|
|
4] (Accumulated Losses) |
(232.683) |
(155.634) |
(118.049) |
|
|
NETWORTH |
252.243 |
329.292 |
375.627 |
|
|
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 |
|
|
|
|
|
|
|
|
TOTAL |
252.243 |
329.292 |
375.627 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
34.773 |
30.404 |
17.043 |
|
|
Capital work-in-progress |
0.000 |
1.265 |
9.900 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
70.122
|
82.029 |
48.122 |
|
|
Sundry Debtors |
69.375
|
122.813 |
237.346 |
|
|
Cash & Bank Balances |
82.584
|
60.035 |
206.605 |
|
|
Other Current Assets |
86.565
|
129.784 |
5.653 |
|
|
Loans & Advances |
53.243
|
35.217 |
35.677 |
|
Total
Current Assets |
361.889
|
429.878 |
533.403 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.281
|
15.100 |
81.873 |
|
|
Other Current Liabilities |
109.019
|
90.132 |
77.734 |
|
|
Provisions |
27.119
|
27.023 |
25.112 |
|
Total
Current Liabilities |
144.419
|
132.255 |
184.719 |
|
|
Net Current Assets |
217.470
|
297.623 |
348.684 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
252.243 |
329.292 |
375.627 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
216.752 |
195.126 |
285.095 |
|
|
|
Other Income |
3.499 |
11.583 |
7.050 |
|
|
|
TOTAL |
220.251 |
206.709 |
292.145 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of projects/ service |
73.701 |
|
|
|
|
|
Purchase of stock in trade |
0.000 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work in progress and stock
in trade |
11.716 |
(33.906) |
|
|
|
|
Employee benefit Expenses |
93.221 |
101.630 |
|
|
|
|
Other Expenses |
109.589 |
82.833 |
|
|
|
|
TOTAL |
288.227 |
242.470 |
328.159 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(67.976) |
(35.761) |
(36.014) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.312 |
0.809 |
1.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(70.288) |
(36.570) |
(37.037) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.761 |
6.289 |
5.890 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEM
|
0.000 |
3.476 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(77.049) |
(46.335) |
(42.927) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(77.049) |
(46.335) |
(42.927) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(164.384) |
(118.049) |
(75.122) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(241.433) |
(164.384) |
(118.049) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Revenue from projects |
42.822 |
90.740 |
25.692 |
|
|
|
Reimbursement |
9.831 |
13.605 |
3.391 |
|
|
TOTAL EARNINGS |
52.653 |
104.345 |
29.083 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Projects components/ Material Cost |
28.577 |
18.330 |
24.987 |
|
|
|
Capital Goods |
0.000 |
5.669 |
0.000 |
|
|
TOTAL IMPORTS |
28.577 |
23.999 |
24.987 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(205.46) |
(123.56) |
(114.47) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(34.98)
|
(22.42)
|
(14.69)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(35.55)
|
(23.75)
|
(15.06)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.42)
|
(10.07)
|
(7.80)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.31)
|
(0.14)
|
(0.11)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.40 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51
|
3.25 |
2.89 |
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 |
Yes |
|
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 |
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 |
COMPANY PROFILE:
Subject is
a subsidiary of CAE Inc, Montreal. CAE involves in the Design, Development and
Integration of simulators across Civil and Defence sectors
CAE is a global
leader in modelling, simulation and training for civil aviation and defence.
The company employs approximately 8,000 people at more than 100 sites and
training locations in approximately 30 countries. CAE offers civil aviation,
military, and helicopter training services in more than 45 locations worldwide
and trains approximately 100,000 crewmembers yearly. CAE’s business is
diversified, ranging from the sale of simulation products to providing
comprehensive services such as training and aviation services, integrated
enterprise solutions, in-service support and crew sourcing.
TRADE REFERENCES:
1. The Director
Combat Vehicle Research and
Development Establishment (CVRDE)
Avadi, Chennai – 600054, Tamilnadu, India
Fax: 91-44-26383661
2. The Director
Naval Science and Technological Laboratory Defence Research and
Development Organization Government of India
Vigyan Nagar, Visakhapatnam – 630027, Andhra Pradesh, India
Fax: 0891-2559464
3. Director,
Flight Mechanics and Control Division National Aerospace Laboratories
PB No. 1779, HAL Airport Road, Bangalore-560017, Karnataka, India
4. The Senior General Manager
Heavy Vehicles Factory Ministry of Defence Government of India
Avadi, Chennai – 600054, Tamilnadu, India
Fax: 044-26841735/ 26841746
5. Directorate of AMS
Air Head Quarters
B-3 Block, 12th Floor, CGO Complex, Lodhi Road, New Delhi – 110003,
India
Fax: 91-11-24364771
FIXED ASSETS:
Ø Land
Ø Building
Ø Furniture and
fixture
Ø Computers
Ø Motor Vehicles
Ø Office Equipment
Ø 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. 53.87 |
|
|
1 |
Rs. 85.53 |
|
Euro |
1 |
Rs. 71.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
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 |
NO |
|
--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.