1. Summary Information
|
|
|
Country |
|
|
Company Name |
TRELLEBORG
SEALING SOLUTIONS ( |
Principal Name 1 |
Mr. Bony Paul |
|
Status |
Good |
Principal Name 2 |
Mr. Lee Weng Chong |
|
|
|
Registration # |
08-022248 |
|
Street Address |
No. 22/9, Beretana
Agrahara, Hosur Main Road, Bangalore – 560 100, Karnataka |
||
|
Established Date |
19.05.1997 |
SIC Code |
-- |
|
Telephone# |
91-80-33729000 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-80-33729001 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Electronic Catalog |
|
|
# of employees |
200
(Approximately) |
Product Name 2 |
Spare parts shop |
|
Paid up capital |
Rs.19,999,000/- |
Product Name 3 |
TSS Proprietary Materials |
|
Shareholders |
Foreign holdings – 100.00% |
Banking |
HSBC Bank |
|
Public Limited Corp. |
No |
Business Period |
16 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
A (60) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
|
Trelleborg Holding AB |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,163,504,000 |
Current Liabilities |
46,157,000 |
|
Inventories |
80,727,000 |
Long-term Liabilities |
00,000 |
|
Fixed Assets |
101,072,000 |
Other Liabilities |
63,271,000 |
|
Deferred Assets |
5,437,000 |
Total Liabilities |
109,428,000 |
|
Invest& other Assets |
142,232,000 |
Retained Earnings |
1,363,545,000 |
|
|
|
Net Worth |
1,383,544,000 |
|
Total Assets |
1,492,972,000 |
Total Liab. & Equity |
1,492,972,000 |
|
Total Assets (Previous Year) |
981,641,000 |
|
|
|
P/L Statement as of |
31.12.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
1,334,003,000 |
Net Profit |
483,100,000 |
|
Sales(Previous yr) |
1,027,166,000 |
Net Profit(Prev.yr) |
391,233,000 |
MIRA
INFORM REPORT
|
Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TRELLEBORG SEALING SOLUTIONS (INDIA) PRIVATE LIMITED (w.e.f.
09.01.2006) |
|
|
|
|
Formerly Known
As : |
BUSAK AND SHAMBAN SEALS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 22/9, Beretana Agrahara, Hosur Main Road, Bangalore – 560 100,
Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation
: |
19.05.1997 |
|
|
|
|
Com. Reg. No.: |
08-022248 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.999 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1997PTC022248 [Old] U29130KA1997PTC022248 [New] |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB01159E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2089G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers
of Sealing Solutions. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 5534000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. The
company is progressing well. Financial position of the company appears to be
sound. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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) |
|
|
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.
LOCATIONS
|
Registered Office : |
No. 22/9, Beretana Agrahara, Hosur Main Road, Bangalore – 560 100,
Karnataka, India |
|
Tel. No.: |
91-80-33729000 |
|
Fax No.: |
91-80-33729001 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
19/1, Kalena Agrahara, |
|
Tel. No.: |
91-80-25189700 |
|
Fax No.: |
91-80-26431109 |
DIRECTORS
As on 30.04.2012
|
Name : |
Mr. Bony Paul |
|
Designation : |
Managing director |
|
Address : |
14, 6th Main, Subash, Chandra Bose Road, Naryanpa Block, R.
T. Nagar, Bangalore – 560032, Karnataka, India |
|
Date of Birth/Age : |
07.05.1964 |
|
Qualification : |
B. Tech Mechanical |
|
Date of Appointment : |
16.05.2005 |
|
DIN No.: |
00248368 |
|
|
|
|
Name : |
Mr. Lee Weng Chong |
|
Designation : |
Director |
|
Address : |
# 57, Greenfield Drive, Singapore – 457951 |
|
Date of Birth/Age : |
16.06.1957 |
|
Date of Appointment : |
11.03.2005 |
|
DIN No.: |
01314402 |
|
|
|
|
Name : |
Mr. Lee Siew Foong |
|
Designation : |
Director |
|
Address : |
590, Yio Chu Kang Road, # 08-04, Singapore – 2678 |
|
Date of Birth/Age : |
13.03.1955 |
|
Date of Appointment : |
19.11.2007 |
|
DIN No.: |
01940162 |
|
|
|
|
Name : |
Mr. Kristian Brok |
|
Designation : |
Director |
|
Address : |
S/o Mr. Karl Brok, Willemoesgade 45, |
|
Date of Birth/Age : |
21.01.1965 |
|
Date of Appointment : |
04.04.2011 |
|
DIN No.: |
03547902 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.04.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Trelleborg Holding AB, |
|
4000 |
|
Trelleborg Sealing Solutions Inc, |
|
15999 |
|
|
|
|
|
TOTAL
|
|
19999 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Sealing Solutions. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.12.2010)
|
Particulars |
Unit |
Actual
Production |
|
Seals |
Nos. |
14,013,485 |
GENERAL INFORMATION
|
No. of Employees : |
200 (Approximately) |
|
|
|
|
Bankers : |
HSBC Bank, MG Road Branch, Bangalore, Karnataka, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
No. 47/6, Mittel Tower, 10th Floor, C Wing, M G Road,
Bangalore – 560 001, Karnataka, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding Company: |
Trelleborg Sealing Solutions, |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on 30.04.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs. 1000/- each |
Rs. 20.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19999 |
Equity Shares |
Rs. 1000/- each |
Rs. 19.999
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 |
19.999 |
19.999 |
19.999 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1363.545 |
880.438 |
489.205 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1383.544 |
900.437 |
509.204 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.061 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
1.500 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
1.561 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1383.544 |
900.437 |
510.765 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
101.072 |
91.167 |
95.077 |
|
|
Capital work-in-progress |
142.232 |
10.870 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
5.437 |
2.823 |
1.290 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
80.727
|
83.111
|
53.167
|
|
|
Sundry Debtors |
215.580
|
150.764
|
164.684
|
|
|
Cash & Bank Balances |
734.823
|
500.541
|
267.937
|
|
|
Other Current Assets |
46.434
|
36.422
|
14.038
|
|
|
Loans & Advances |
166.667
|
105.943
|
12.395
|
|
Total
Current Assets |
1244.231
|
876.781
|
512.221 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.157
|
61.775
|
65.289
|
|
|
Other Current Liabilities |
48.404
|
5.664
|
13.993
|
|
|
Provisions |
14.867
|
13.765
|
18.541
|
|
Total
Current Liabilities |
109.428
|
81.204
|
97.823 |
|
|
Net Current Assets |
1134.803
|
795.577
|
414.398
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1383.544 |
900.437 |
510.765 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1334.003 |
1027.166 |
706.245 |
|
|
|
Other Income |
NA |
32.022 |
0.000 |
|
|
|
TOTAL (A) |
NA |
1059.188 |
706.245 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
537.833 |
373.585 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
537.833 |
373.585 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
735.880 |
521.355 |
332.660 |
|
|
|
|
|
|
|
|
|
Less |
Exceptional
Item |
16.390 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.030 |
0.100 |
0.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
719.460 |
521.255 |
331.830 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.170 |
26.790 |
49.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
697.290 |
494.465 |
282.330 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
214.190 |
103.232 |
74.440 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
483.100 |
391.233 |
207.890 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
483.100 |
391.233 |
207.890 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
426.133 |
371.050 |
239.160 |
|
|
TOTAL EARNINGS |
426.133 |
371.050 |
239.160 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
58.573 |
88.007 |
88.299 |
|
|
|
Traded Good |
274.165 |
233.017 |
132.730 |
|
|
|
Capital Goods |
46.565 |
3.664 |
5.580 |
|
|
TOTAL IMPORTS |
379.303 |
324.688 |
226.609 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24156.20 |
19562.61 |
10395.02 |
|
%20PRIVATE%20LIMITED%20-%20212755%2005-Mar-2013_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20212755%2005-Mar-2013_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20212755%2005-Mar-2013_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
NA
|
36.94
|
29.44
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
52.27
|
48.14
|
39.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
51.83
|
51.08
|
46.49
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.55
|
0.55
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.37
|
10.80
|
5.23
|
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 |
Yes |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL RESULTS
The turnover for the
year was Rs.1334.003 Millions against Rs. 1027.185 Millions in the previous
year. During the year the company has improved the turnover by 29.86% due to
the increase in manufacturing and trading activities compared to previous year.
The net profit for
the year was Rs.483.10 Mio, registering a growth of 23.49% against the previous
year. Which is due to higher Margins on sales during the current year, good
export orders for the year, broader reach of market segments, good economic
conditions prevalent in the country which had a positive effect on the sales,
price increase effected on domestic sales, Reduction in cost of materials
procurement due to better inventory control management, Insignificant interest
outflow due to no borrowings and Good control on Operating and Fixed Costs
during the year.
The exceptional
item during the year is that, the Company has started a new business venture
which would focus on web designing, mobile web services, engineering
development services, iPhone, Smartphone applications, e-commerce etc., wherein
it has incurred an expense of INR 16.390 Millions by way of employee salary and
establishment costs. This new venture was in initial stages during 2011 and
expenses incurred were purely in the nature of setting up of the business,
where in the business model was in nascent stage and accordingly no services
have been rendered as at December 31, 2011.
CONTINGENT
LIABILITY
Contingent Liability not provided for, in respect of: -
(Rs. in millions)
|
PARTICULARS |
31.12.2011 |
|
|
|
|
Central Excise Matters under dispute |
1.123 |
|
Bank Guarantee (Refer Note below) |
1.128 |
|
Others |
0.424 |
|
|
|
Note: Includes Bank
Guarantee for Nil (2010: Rs.375,000) given by the Company to The Development
Commissioner, Cochin Special Economic Zone (DC, CSEZ) under the Ministry of
Commerce and Industries for concessional import duty granted to the Export
Oriented Unit of the Company. Conditions for grant of the said concession
inter-alia includes the need to achieve a positive Net Foreign Exchange (NFE)
as prescribed in the Export-Import Policy.
PRESS RELEASE
TRELLEBORG
INAUGURATES A NEW FACILITY FOR ADVANCED SEALING SOLUTIONS IN BANGALORE, INDIA
21
May, 2012
Today, Trelleborg inaugurates a newly constructed
facility in Bangalore, India, to develop, manufacture and supply
high-performance sealing solutions for aircrafts, off highway equipment,
trucks, passenger cars, as well as for industrial applications. The facility is
part of the Trelleborg Sealing Solutions business area.
The investment is part of Trelleborg’s continued long-term strategy to invest in
markets with favorable growth potential. Using proven leading-edge development
and manufacturing processes, the site will focus on a broad range of advanced
sealing solutions. The facility will serve the needs of Trelleborg’s existing
customers by providing local support and supply to their Indian plants, and
just as importantly, to local manufacturers.
“We believe that India has highly favorable long-term growth opportunities and
our strong global platform will be further reinforced by this facility,” says
Peter Nilsson, President and CEO of Trelleborg. “This unit continues our
commitment to the growing manufacturing sector within in India.”
“Demand for high-performance sealing solutions is favorable in off-highway
equipment, automotive and other industrial segments” says Business Area
President, Trelleborg Sealing Solutions, Claus Barsøe.
The inauguration on 27 April was attended by guests from all over the world,
including representative from industry leaders from the Indian fluid power,
off-highway, aerospace and automotive industries along with the Ambassador of
Sweden to India Lars-Olof Lindgren as well as management and personnel from
Trelleborg.
Trelleborg has three facilities in India, in Bangalore and Noida. These
develop, manufacture and supply hydraulic and pneumatic sealing systems for
fluid power, automotive and aerospace among others. In addition, there are
eight regional sales and support offices to effectively cultivate the local
market, as well as a center of excellence for engineering and design in
Ahmedabad. Trelleborg has approximately 1,000 employees in India and sales in
2011 amounted to approximately SEK 490 M. Continuing expansion within India,
the inauguration of a new Trelleborg Engineered Systems facility in India, also
in Bangalore, is planned for September 2012. This facility will develop,
manufacture and supply industrial antivibration systems with a focus on rail
and molded components for a variety of industry segments.
Trelleborg Sealing Solutions is one of the world’s leading developers,
manufacturers and suppliers of precision seals. It support its aerospace,
industrial and automotive customers through over 20 production facilities and
more than 40 marketing companies globally. Within its portfolio are some of the
longest established sealing brands, including Busak+Shamban, Chase Walton,
Dowty, Forsheda, GNL, Palmer Chenard, Shamban, Skega and Stefa along with a
large number of proprietary products and materials such as Turcon, Zurcon,
Orkot, Isolast, Stepseal and Wills Rings.
Trelleborg is a global industrial group whose leading positions are based on
advanced polymer technology and in-depth applications know-how. Trelleborg
develops high-performance solutions that seal, damp and protect in demanding
industrial environments. The Trelleborg Group had annual sales 2011 of just
over SEK 29 billion, with about 21,000 employees in over 40 countries. The
Group comprises four business areas: Trelleborg Engineered Systems, Trelleborg
Automotive, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. The
Trelleborg share has been listed on the Stockholm Stock Exchange since 1964 and
is listed on the NASDAQ OMX Nordic List, Large Cap.
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.55.05 |
|
|
1 |
Rs.82.75 |
|
Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
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 |
|
60 |
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.