MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOYOTETSU INDIA AUTO PARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Onsite Supplier Park, Building No.7, Toyota Kirloskar Motor Private Limited,
Plot No.1, Bidadi-562 109, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.12.2008 |
|
|
|
|
Com. Reg. No.: |
08-048504 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 760.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300KA2008PTC048504 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRT06986A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT0768L |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacture of Automobile Components |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appear huge accumulated losses recorded by the company. The external
borrowing seems to be huge. However, the company has achieved better growth in its sales during
2012. The capital base seems to be strong. Trade relations are reported to be fair. Business is active. Payments
are slow. 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
Onsite Supplier Park, Building No.7, Toyota Kirloskar Motor Private
Limited, Plot No.1, Bidadi-562109, Karnataka, India |
|
Tel. No.: |
91-80-27287159 |
|
Fax No.: |
91-80-27287153 |
|
E-Mail : |
DIRECTORS
AS ON 30.07.2012
|
Name : |
Mr. Kobashi Masaaki |
|
Designation : |
Managing Director |
|
Address : |
No. 102, Capricon, CV Raman Road, Sadashiv Nagar, Bangalore-560 080,
Karnataka, India |
|
Date of Birth/Age : |
24.04.1957 |
|
Date of Appointment : |
15.04.2009 |
|
DIN No.: |
02648896 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U34300KA2008PTC048504 |
TOYOTETSU
INDIA AUTO PARTS PRIVATE LIMITED |
Director |
28-07-11 |
15-04-09 |
Active |
NO |
|
2 |
U34300KA1998PTC024464 |
STANZEN
TOYOTETSU INDIA PRIVATE LIMITED |
Managing
director |
01-08-12 |
12-08-09 |
Active |
NO |
|
Name : |
Nobuaki Yamasaki |
|
Designation : |
Managing Director |
|
Address : |
No.29, 34th Main BTM Layout, 2nd Stage,
Bangalore-560076, Karnataka, India |
|
Date of Birth/Age : |
15.09.1958 |
|
Date of Appointment : |
27.07.2011 |
|
Date of Cessation : |
31.08.2012 |
|
DIN No.: |
03578518 |
|
|
|
|
Name : |
Manabu Yamamoto |
|
Designation : |
Whole Time Director |
|
Address : |
No.29, 34th Main BTM Layout, 2nd Stage,
Bangalore-560076, Karnataka, India |
|
Date of Birth/Age : |
11.05.1962 |
|
Date of Appointment : |
27.07.2011 |
|
DIN No.: |
03578516 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U34300KA2008PTC048504 |
TOYOTETSU
INDIA AUTO PARTS PRIVATE LIMITED |
Whole-time
director |
28-07-11 |
27-07-11 |
Active |
NO |
|
2 |
U34300KA1998PTC024464 |
STANZEN
TOYOTETSU INDIA PRIVATE LIMITED |
Director
appointed in casual vacancy |
30-08-12 |
30-08-12 |
Active |
NO |
|
Name : |
Mr. Hamajima Seiji |
|
Designation : |
Whole time director |
|
Address : |
No.302, |
|
Date of Birth/Age : |
11.02.1965 |
|
Date of Appointment : |
16.01.2010 |
|
DIN No.: |
02959020 |
|
|
|
|
Name : |
Mr. Shingo Shishkura |
|
Designation : |
Director |
|
Address : |
G 906, Brigade Gate, Way 26/1, Rajkumar Road, Bangalore-560055,
Karnataka, India |
|
Date of Birth/Age : |
19.05.1959 |
|
Date of Appointment : |
15.05.2012 |
|
DIN No.: |
03581399 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U34300KA1998PTC024464 |
STANZEN
TOYOTETSU INDIA PRIVATE LIMITED |
Whole-time
director |
28-07-11 |
28-07-11 |
Active |
NO |
|
2 |
U34300KA2008PTC048504 |
TOYOTETSU
INDIA AUTO PARTS PRIVATE LIMITED |
Director |
30-07-12 |
15-05-12 |
Active |
NO |
|
Name : |
Mr. Yoshimasa Sugimoto |
|
Designation : |
Director |
|
Address : |
No.1 D, Thomas Maner No.88, Richmond Road, Bangalore-560025,
Karnataka, India |
|
Date of Birth/Age : |
15.05.1963 |
|
Date of Appointment : |
15.05.2012 |
|
DIN No.: |
02727011 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U34300KA1998PTC024464 |
STANZEN
TOYOTETSU INDIA PRIVATE LIMITED |
Whole-time
director |
16-07-12 |
16-07-09 |
Active |
NO |
|
2 |
U34300KA2008PTC048504 |
TOYOTETSU
INDIA AUTO PARTS PRIVATE LIMITED |
Director |
30-07-12 |
15-05-12 |
Active |
NO |
|
Name : |
Koizumi Jun |
|
Designation : |
Director |
|
Address : |
702, Emassy Orchid, Rajamahal Vilas Extension, Bangalore-560080,
Karnataka, India |
|
Date of Birth/Age : |
15.10.1966 |
|
Date of Appointment : |
27.07.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2012
|
Names of Shareholders |
No. of Shares |
|
Stanzen Techno Private Limited, India |
760000 |
|
Toyoda Iron Works Company Limited, Japan |
75240000 |
|
TOTAL
|
76000000 |
AS ON 27.03.2013
|
Names of Allottee |
No. of Shares |
|
Toyoda Iron Works Company Limited, Japan |
94050000 |
|
TOTAL
|
94050000 |
AS ON 30.07.2012
|
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 |
99.00 |
|
Bodies corporate |
1.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Automobile Components |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
5th Floor, Tower D, The Millenia, 1and 2, |
|
PAN No.: |
AADF9359C |
|
|
|
|
Holding Company : |
Toyoda Iron
Works Company Limited |
|
|
|
|
Fellow Subsidiaries : |
Stanzen Toyotetsu
India Private Limited CIN No.:-
U34300KA1998PTC024464 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76000000 |
Equity Shares |
Rs.10/- each |
Rs. 760.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76000000 |
Equity Shares |
Rs.10/- each |
Rs. 760.000 Millions |
|
|
|
|
|
AS ON 30.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
171000000 |
Equity Shares |
Rs.10/- each |
Rs. 1710.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170050000 |
Equity Shares |
Rs.10/- each |
Rs. 1700.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
760.000 |
760.000 |
|
(b) Reserves & Surplus |
|
(402.185) |
(187.189) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
1705.860 |
1010.610 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
29.498 |
23.961 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
170.971 |
81.816 |
|
(c) Other current
liabilities |
|
46.437 |
29.473 |
|
(d) Short-term provisions |
|
31.674 |
25.932 |
|
TOTAL |
|
2342.255 |
1744.603 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1687.316 |
1245.330 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
13.936 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.869 |
2.505 |
|
(e) Other Non-current assets |
|
6.332 |
8.354 |
|
|
|
1695.517 |
1270.125 |
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
35.085 |
34.559 |
|
(c) Trade receivables |
|
203.500 |
171.470 |
|
(d) Cash and cash
equivalents |
|
234.455 |
134.639 |
|
(e) Short-term loans
and advances |
|
167.117 |
125.092 |
|
(f) Other current
assets |
|
6.581 |
8.718 |
|
TOTAL |
|
2342.255 |
1744.603 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
760.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(25.885) |
|
|
NETWORTH |
|
|
734.115 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
490.000 |
|
|
TOTAL BORROWING |
|
|
490.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
4.327 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1228.442 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
40.122 |
|
|
Capital work-in-progress |
|
|
917.402 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
1.243 |
|
|
Cash & Bank Balances |
|
|
231.912 |
|
|
Other Current Assets |
|
|
7.924 |
|
|
Loans & Advances |
|
|
134.377 |
|
Total
Current Assets |
|
|
375.456 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
87.761 |
|
|
Other Current Liabilities |
|
|
15.843 |
|
|
Provisions |
|
|
0.934 |
|
Total
Current Liabilities |
|
|
104.538 |
|
|
Net Current Assets |
|
|
270.918 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1228.442 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1223.311 |
|
3.347 |
|
|
|
Other Income |
13.355 |
|
52.427 |
|
|
|
TOTAL |
1236.666 |
257.549 |
55.774 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1201.377 |
337.980 |
61.555 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
35.289 |
(80.431) |
(5.781) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
23.277 |
5.439 |
11.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.012 |
(85.870) |
(17.322) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
285.674 |
79.762 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period
Items |
58.902 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(214.760) |
(165.632) |
(17.322) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.235 |
(4.327) |
8.562 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(214.995) |
(161.305) |
(25.884) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(187.189) |
(25.884) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(402.184) |
(187.189) |
(25.884) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.83) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(17.39)
|
(62.63) |
(46.41) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(17.56)
|
NA |
(517.54) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.17)
|
(9.57) |
(4.17) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.60)
|
(0.29) |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.77
|
1.76 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60
|
3.46 |
3.59 |
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 |
No |
|
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 |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Term Loans from Banks |
682.344 |
403.372 |
|
Term Lomas from Others |
1023.516 |
607.238 |
|
|
|
|
|
TOTAL |
1705.860 |
1010.610 |
NOTE
Registered office has been shifted from Toyota Techno Park, Plot No.20,
Bidadi Industrial Area, Bangalore-562106, Karnataka, India to the present
address w.e.f. 16.08.2010.
GENERAL
INFORMATION
Subject is a
automobile components manufacturing company, registered under the provisions of
the Companies Act, 1956 (the Act) as a company limited by shares and having its
registered office and manufacturing facility at Onsite Supplier Park, Building
No. 7, Toyota Kirloskar Motor Private Limited, Plot No. 1, Bidadi Industrial
Area, Bidadi, Ramanagar District-562109.
The Company is a
joint venture entity established in December 2008 by Toyoda Iron Works Company
Limited, Japan and Stanzen Techno Private Limited, India for manufacturing
pressed and welded automobile components, and constructing dies, jigs and
fixtures to cater to the requirements of Toyota Kirloskar Motors Private
Limited.
OPERATING RESULTS AND OUTLOOK
This financial year
has been a year of significant importance as production geared up to 46 % of
its installed capacity catering to the component requirement of ' ETIOS '.
During the year
the Company has further increased the production capacity in stamping by
installing an additional 1600T Transfer press Machine to meet the increased
demand from the Customer as per plan.
The Company has
achieved sales of Rs. 1223.311 Millions during the year and has recorded Gross
Profit of Rs. 35.289 Millions, a cash profit of Rs. 12.012 Millions. Loss
before Prior Period adjustment of Rs. 273.662 Millions was mainly due to high
depreciation charge- Rs. 285.674 Millions during the year and fluctuations in
the cost of material sourced abroad by our suppliers because of exchange rate variation.
With a customer
satisfactory performance during the year the Company has established a strong
foothold in the Auto Component sector within the Toyota group and is well
positioned to grow and continue with its task to build business with long-term goals
based on its strength in adoption of new technology supported with quality
manufacturing, well planned and executed distribution system and building up
customer relationship. Rationalizing and streamlining operations to bring about
efficiencies and reducing cost will remain top priority.
APPROVALS /RECOGNITIONS/ AWARDS RECEIVED BY THE COMPANY
That company
through its efforts and performance has received the following awards from the
Customer, Toyota Kirloskar Motors Private Limited:
a)
"Award for Best Activity in Quality
Month" in Nov 2011
b)
"Gold Medal for Achievement of Zero PPM"
for March 2012, April 2012 and May 2012
c)
"Rolling Trophy for Best Quality - OSS
Suppliers" in the Months of March 2012, April 2012 and May 2012.
a)
"Best Supporting Group for Achieving
Quality" in April 2012 in recognition of the contribution of the Company
towards the Customers Quality Achievements.
FIXED ASSETS
·
Building
·
Plant and machinery
·
Computer Systems
·
Office Equipments
·
Furniture and Fixture
·
Motor Vehicle
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. 58.27 |
|
|
1 |
Rs. 91.15 |
|
Euro |
1 |
Rs. 77.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.