MIRA INFORM REPORT
|
Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMCO SAFT INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
AMCO POWER SYSTEM LIMITED |
|
|
|
|
Registered
Office : |
Hebbal Bellary, Jakkur Road,
Byatrayanapura, Bangalore - 560092,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
18.12.1996 |
|
|
|
|
Com. Reg. No.: |
08 - 021517 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 196.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1996PLC021517 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA01575A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA1887D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Nickel Cadmium Batteries. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
The company was formed in 2006 as a joint venture between France based ‘ SAFT
GROUP’ and ‘Amco Power Systems Limited’ a part of the Chennai based
“’Amalgamation Group.’ Currently Saft holds 51% shareholding in ASIL while
the rest is held by Tractors and Farm Equipment Limited (TAFE, flagship
company of the Amalgamation Group). There appears slight dip in the profitability of the company during
2012. Reserves appear to be improving. Trade relations are reported as
decent. Business is active. Payments terms
are reported as slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating : BBB - |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
19.07.2012 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
19.07.2012 |
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 : |
Hebbal Bellary, Jakkur Road,
Byatrayanapura, Bangalore - 560092,
Karnataka, India |
|
Tel. No.: |
91- 80 - 2363 7790 |
|
Fax No.: |
91- 80 - 2363 7716 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Offices 1 : |
1202,12th Floor, 6, Devika Towers, Nehru Place,
New Delhi – 110019, India |
|
Tel. No.: |
91- 11- 40638644 |
|
Fax No.: |
91- 11- 40638644 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Offices 2 : |
324 / A, 3rd Floor,
Swastik Chember, CST Road,
Chembur, Mumbai - 400 071,
Maharashtra, India |
|
Tel. No.: |
91-22 - 2529 2967 |
|
Fax No.: |
91-22 - 2492 2209 |
|
Website : |
|
|
|
|
|
Branch offices : |
No. 1/4, 1st Floor, Chandrodaya Co – Operative Society, Swastika Park, Chembur, Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-22-25292967 |
|
Fax No.: |
91-22-24922209 |
|
E-Mail : |
|
|
|
|
|
Head office /
Factory: |
Plot no. 10/1B and 1C, abbunakuppe, bidadi industrial area, Bangalore – 562109, Karnataka, india |
|
Tel. No.: |
91-80-23637790 |
|
Fax No.: |
91-80-23637716 |
|
E-Mail : |
DIRECTORS
As on 30.06.2012
|
Name : |
Pillapa Kam Bahukudumbi Sam Path |
|
Designation : |
Director |
|
Address : |
31/1,
Bhagirathi Ammal Street,
Tnagar, Chennai, Tamil Nadu, India |
|
Date of Birth/Age : |
11.10.1944 |
|
Date of Appointment : |
09.03.2007 |
|
DIN No.: |
00037043 |
|
|
|
|
Name : |
Loueoec Bernard |
|
Designation : |
Director |
|
Address : |
No.Z5 Rue Saint- Hippoivte Paris France 75013 |
|
Date of Birth/Age : |
20.02.1964 |
|
Date of Appointment : |
09.03.2007 |
|
DIN No.: |
00283269 |
|
|
|
|
Name : |
Xavier Delacroix |
|
Designation : |
Director |
|
Address : |
Les Glycines ST Maurice LA Clouere France 86160 |
|
Date of Birth/Age : |
06.02.1964 |
|
Date of Appointment : |
09.03.2007 |
|
DIN No.: |
01714462 |
|
|
|
|
Name : |
Pierre Marc Denis Jean Leroy |
|
Designation : |
Additional
Director |
|
Address : |
Rueil Malmaison France 92500 |
|
Date of Birth/Age : |
18.06.1960 |
|
Date of Appointment : |
04.04.2012 |
|
DIN No.: |
05305460 |
|
Name : |
Ramanujapuram Anandampillai Sridhar |
|
Designation : |
Additional
Director |
|
Address : |
27, Sir Desika Road, Chennai - 600004, TamilNadu India |
|
Date of Birth/Age : |
23.10.1950 |
|
Date of Appointment : |
04.04.2012 |
|
DIN No.: |
03056673 |
KEY EXECUTIVES
|
Name : |
Vaidyanathan Vtswanathan |
|
Designation : |
Secretary |
|
Address : |
4th
Street Mehta Nagar, Chennai – 600029, Tamilnadu, India |
|
Date of Birth/Age : |
01.07.1978 |
|
Date of Appointment : |
03.04.2006 |
|
|
|
|
Name : |
Girish Kumar Shankare Gowda Patil |
|
Designation : |
Manager |
|
Address : |
Gokulam,
II Stage, Mysore, Karnataka
- 570002, West Bengal, India |
|
Date of Birth/Age : |
09.10.1963 |
|
Date of Appointment : |
20.09.2010 |
|
|
|
MAJOR SHAREHOLDERS
As on 30.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Tractors and farm Equipments Limited |
|
5002170 |
|
SAFT Batteries PTE Limited |
|
10004000 |
|
Amco Batteries Limited,P B Sampatii |
|
100 |
|
Amco Batteries Limted.V Ramamoorthy |
|
100 |
|
Amco
Batteries Limited,B N Balachandran |
|
100 |
|
Amco Batteries
Limited |
|
4593330 |
|
K.V.Jaganathan.Amco
Batteries Limited |
|
100 |
|
R.A.Sridhar.Amco
Batteries Limited |
|
100 |
|
|
|
19600000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.06.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Nickel Cadmium Batteries. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
PRODUCTION STATUS AS ON 31.12.2012
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Nickel Cadmium Pocket Plate Batteries |
MAh |
Not Applicable |
* |
17.64 |
* Installed capacity
has not been disclosed as these are variable and subject to changes in product
mix and utilization of manufacturing facilities, given the nature of operations
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Central Bank of India, Santosh
complex, K.G. Road, Bangalore - 560009, Karnataka, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwala and Ministry Chartered Accountants |
|
Address : |
No.102, 2nd Floor, Gangadhara
Chetty Road, Bangalore-560042, Karnataka, India |
|
PAN No.: |
ABUPB6044N |
|
|
|
|
Holding Company
: |
Saft Batteries Pte Limited, Singapore (SAFT,Singapore) |
|
|
|
|
Ultimate Holding
Company : |
Saft SA (France) |
|
|
|
|
Fellow
Subsidiaries : |
|
|
|
|
|
Parties having substantial
interest: |
|
CAPITAL STRUCTURE
As on 30.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19600000 |
Equity Shares |
Rs.10/- each |
Rs. 196.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19600000 |
Equity Shares |
Rs.10/- each |
Rs. 196.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
196.000 |
96.000 |
96.000
|
|
|
2] Share Application Money |
0.000 |
20.000 |
0.000 |
|
|
3] Reserves & Surplus |
164.101 |
77.121 |
31.769 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
360.101 |
193.121 |
127.769 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
67.897 |
32.555 |
20.428 |
|
|
2] Unsecured Loans |
47.296 |
53.712 |
66.221 |
|
|
TOTAL BORROWING |
115.193 |
86.267 |
86.649 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
475.294 |
279.388 |
214.418 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
86.253 |
88.938 |
23.754 |
|
|
Capital work-in-progress |
2.313 |
0.014 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
8.772 |
8.731 |
6.435 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
65.640
|
105.298 |
74.695 |
|
|
Sundry Debtors |
256.323
|
206.978 |
183.775 |
|
|
Cash & Bank Balances |
188.773
|
89.780 |
75.488 |
|
|
Other Current Assets |
14.766
|
4.746 |
2.615 |
|
|
Loans & Advances |
50.346
|
19.717 |
22.525 |
|
Total
Current Assets |
575.848
|
426.519 |
359.098 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
177.566
|
214.822 |
151.632 |
|
|
Other Current Liabilities |
0.535
|
0.219 |
5.382 |
|
|
Provisions |
19.791
|
29.773 |
17.855 |
|
Total
Current Liabilities |
197.892
|
244.814 |
174.869 |
|
|
Net Current Assets |
377.956
|
181.705 |
184.229 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
475.294 |
279.388 |
214.418 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
565.677 |
450.599 |
449.012 |
|
|
|
Other Income |
11.876 |
14.875 |
5.845 |
|
|
|
TOTAL (A) |
577.553 |
465.474 |
454.857 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
387.845 |
300.352 |
|
|
|
|
Manufacturing service costs |
8.631 |
7.287 |
|
|
|
|
Contract cost |
12.935 |
11.026 |
370.323 |
|
|
|
Employee related expenses |
40.702 |
34.265 |
|
|
|
|
Administrative selling other expenses |
56.844 |
35.093 |
|
|
|
|
TOTAL (B) |
506.957 |
388.023 |
370.323 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
70.596 |
77.451 |
84.534 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.693 |
5.160 |
6.129 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
61.903 |
72.291 |
78.405 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.302 |
4.600 |
4.084 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
58.601 |
67.691 |
74.321 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.621 |
22.339 |
28.353 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.980 |
45.352 |
45.968 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
65.622 |
20.270 |
(25.698) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
102.602 |
65.622 |
20.270 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export value on FOB Basis |
6.452 |
0.465 |
7.157 |
|
|
|
Reimbursement of Expenses |
0.694 |
1.216 |
0.402 |
|
|
TOTAL EARNINGS |
7.146 |
1.681 |
7.559 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
380.884 |
280.445 |
297.208 |
|
|
|
Stores & Spares |
236.426 |
187.808 |
194.056 |
|
|
TOTAL IMPORTS |
617.310 |
468.253 |
491.264 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.51 |
4.72 |
4.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
6.40
|
9.74 |
10.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.36
|
15.02 |
16.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.85
|
13.13 |
19.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.35 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.87
|
1.71 |
2.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91
|
1.74 |
2.05 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------ |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
------ |
|
22] |
Litigations that the firm
/ promoter involved in |
------ |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
------ |
|
26] |
Buyer visit details |
------ |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U85110KA1996PLC021517 |
|
Name of the
company |
AMCO SAFT INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Hebbal Bellary, Jakkur Road,
Byatrayanapura, Bangalore - 560092,
Karnataka, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
80014593 |
|
Type of charge |
|
|
Particular of charge
holder |
Central Bank of India, Santosh
complex, K.G. Road, Bangalore - 560009, Karnataka, India |
|
Nature of
instrument creating charge |
|
|
Date of
instrument Creating the charge |
10.03.2011 |
|
Amount secured by
the charge |
Rs. 162.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BR+4% subject to
a minimum of 13.5% p.a Terms of Repayment
Margin
Extent and Operation of the charge The charge
extends and operates on all tangible property such as products,
stock-in-trade and goods of the Borrowers which now or hereafter from time to
time during this security shall brought in, stored or be in or about the
premises, warehouses or anywhere else or godowns of the borrowers in Hebbal
Bellary Jakkur Road, Bangalore- 92. First charge on the fixed assets and
receivables of the Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Date of
instrument modifying the charge |
25.10.2006 |
|
Particulars of
the present modification |
The existing
limit has been enhanced and stands at
Rs. 162.000 Millions both fund based and non based limits viz., a.Fund based
limits:1. CC limit- Rs. 35.000 Millions, 2. BD limit- Rs.20.000 Millions,(Sub
limits i.PC:Rs.5.000 Millions ii. Cheque purchase:Rs.2.500 Millions iii. Post
shipment Credit: Rs.5.000 Millions) b. Non fund based limits: FLC limit- Rs.
15.000 Millions, BG limit- Rs.65.000 Millions and Forward Hedging of USD/Euro- Rs.27.000 Millions. |
OPERATION AND PROSPECTS
The Sales income has recorded a healthy growth
of 26% during 2011 from 450.000 Millions INR in 2010 to 565.000 Millions INR.
However Profit before tax (PBT) has come down from 67.700 Millions INR in 2011 to
58.600 Millions INR. This is mainly due to foreign exchange fluctuation in
2011. As against foreign exchange gain of 6.3.00 Millions INR in 2010 there is
foreign exchange loss of 14.600 Millions INR in 2011. This has severely
impacted the Profit before tax. lf we exclude the fluctuation effect, Profit
before tax has recorded a growth of 19% during 2011 from 61.00 Millions INR in
2010 to 73.00 Millions INR in 2011.Operating expenses as a percentage of sales
has come down from 11.87% in 2010 to 11.28% in 2011. The trade receivable is an
area of concern which will be the focus area in 2012.
CONTINGENT LIABILITY
(Rs. in millions)
|
Particular |
As on 31.12.2011 |
As on 31.12.2010 |
|
|
|
|
|
Bank Guarantees |
89.260 |
78.737 |
|
- Income Tax matters in dispute -Value Added Tax matters in dispute |
2.876 3.667 |
2.876 3.600 |
|
Claims against the Company not acknowledged as debts |
- |
0.940 |
Fixed Assets
- Leasehold Improvements
- Plant and Machinery
- Office Equipment
- Furniture and Fixtures
- Computer Systems
- Motor Vehicles
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.71.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.