1. Summary Information
|
|
|
Country |
|
|
Company Name |
CONTINENTAL
INDIA LIMITED |
Principal Name 1 |
Mr. Alok Kumar Modi |
|
Status |
Moderate |
Principal Name 2 |
Mr. Peter Maria Fidelius Cornelis Verbruggen |
|
|
|
Registration # |
55-153993 |
|
Street Address |
1012 -1015, 10th
Floor, |
||
|
Established Date |
16.09.2006 |
SIC Code |
-- |
|
Telephone# |
91-11-43744600 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-43744667 |
Business Style 2 |
|
|
Homepage |
Product Name 1 |
tyres |
|
|
# of employees |
Not Available |
Product Name 2 |
Tubes |
|
Paid up capital |
Rs.1,819,942,000/- |
Product Name 3 |
Flaps |
|
Shareholders |
Bodies corporate 100% |
Banking |
Yes Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
7 Years |
|
IPO |
No |
International Ins. |
CEO |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow
Subsidiary |
|
Spin Investment India Limited |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,258,535,000 |
Current Liabilities |
1,791,588,000 |
|
Inventories |
1,310,142,000 |
Long-term Liabilities |
847,144,000 |
|
Fixed Assets |
466,588,000 |
Other Liabilities |
230,245,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,868,977,000 |
|
Invest& other Assets |
5,412,000 |
Retained Earnings |
(1,648,242,000) |
|
|
|
Net Worth |
171,700,000 |
|
Total Assets |
3,040,677,000 |
Total Liab. & Equity |
3,040,677,000 |
|
Total Assets (Previous Year) |
1,875,165,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
4,782,912,000 |
Net Profit / (Loss) |
(1,201,975,000) |
|
Sales(Previous yr) |
6,149,683,000 |
Net Profit
/ (Loss) (Prev.yr) |
(1,468,136,000) |
|
Report Date : |
08.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONTINENTAL INDIA LIMITED (w.e.f.23.09.2011) |
|
|
|
|
Formerly Known
As : |
MODI TYRES COMPANY LIMITED (w.e.f.12.03.2011) MODI TYRES COMPANY PRIVATE LIMITED (w.e.f.23.06.2007) ZENITH TYRES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1012 -1015, 10th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.09.2006 |
|
|
|
|
Com. Reg. No.: |
55-153993 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.1819.942 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203DL2006PLC153993 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged
in the business of manufacturing tyres and related components for heavy
vehicles |
|
|
|
|
No. of
Employees: |
Not Available |
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 680000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Modi Rubber Limited’. It is an established
company having moderate track record. There appear huge accumulated losses recorded by the company.
Financial position of the company is under pressure. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with great
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) |
|
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 |
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 : |
1012 -1015, 10th Floor, |
|
Tel. No.: |
91-11-43744600 |
|
Fax No.: |
91-11-43744667 |
|
E-Mail : |
|
|
|
|
|
Factory : |
7th Milestone, Meerut-Roorkee Road, Modipuram,
Meerut-250110, Uttar Pradesh, India |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Alok Kumar Modi |
|
Designation : |
Director |
|
Address : |
55-A, Friends Colony East, New Delhi – 110025, India |
|
Date of Birth/Age : |
18.06.1966 |
|
Date of Appointment : |
16.09.2006 |
|
DIN No.: |
00174374 |
|
|
|
|
Name : |
Mr. Peter Maria Fidelius Cornelis Verbruggen |
|
Designation : |
Director |
|
Address : |
Kuilenstraat 51 |
|
Date of Birth/Age : |
22.04.1960 |
|
Date of Appointment : |
15.07.2011 |
|
DIN No.: |
01730049 |
|
|
|
|
Name : |
Mr. Benoit Henri Ghislain Marie Henry |
|
Designation : |
Director |
|
Address : |
90 JlN Setia Murini 6 Bukit Damansara 50490 Kaula Lumpur |
|
Date of Birth/Age : |
17.11.1961 |
|
Date of Appointment : |
15.07.2011 |
|
DIN No.: |
03534144 |
|
|
|
|
Name : |
Mr. Nikolai Setzer |
|
Designation : |
Director |
|
Address : |
Hinter Der Gartnerei 14, 31515, Wunstorf OT Kolenfeld, Wunstrof |
|
Date of Birth/Age : |
20.04.1971 |
|
Date of Appointment : |
15.07.2011 |
|
DIN No.: |
03552400 |
|
|
|
|
Name : |
Mr. Burkhardt Koeller |
|
Designation : |
Additional Director |
|
Address : |
Sperlingsweg 24 ST Berenbostel |
|
Date of Birth/Age : |
26.12.1951 |
|
Date of Appointment : |
09.03.2012 |
|
DIN No.: |
05215542 |
|
|
|
|
Name : |
Mr. Mahesh Prasad Tyagi |
|
Designation : |
Alternate Director |
|
Address : |
A16/72, Vasundhara, Indirapuram, Ghaziabad-201012, Uttar Pradesh,
India |
|
Date of Birth/Age : |
01.08.1947 |
|
Date of Appointment : |
01.09.2012 |
|
DIN No.: |
01835274 |
KEY EXECUTIVES
|
Name : |
Mr. Saroj Kumar Thakur |
|
Designation : |
Secretary |
|
Address : |
House No.1082, Sector -3, Ballabgarh, |
|
Date of Birth/Age : |
04.06.1984 |
|
Date of Appointment : |
20.01.2010 |
|
Pan No.: |
AIXPT2670A |
|
|
|
|
Name : |
Mr. Claude D Gama Rose |
|
Designation : |
Manager |
|
Address : |
Flat No. 111, The Embassy No.15, |
|
Date of Birth/Age : |
29.10.1956 |
|
Date of Appointment : |
15.07.2011 |
|
Pan No.: |
ABFPD2556C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
No. of Shares |
|
Continental |
1 |
|
Continental Reifen Deutschland |
1 |
|
Continental Caoutchouc –Export GmbH, Germany |
1 |
|
Cas –One Holdinggehsellchaft mbH, |
1 |
|
Conti Tech Universe Verwaltungs – |
1 |
|
CGH Holdings B.V , |
1 |
|
Continental Global Holdings |
181994155 |
|
TOTAL
|
181994161 |
AS ON 25.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
in the business of manufacturing tyres and related components for heavy
vehicles |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr.
Annie Beasnt Road, Worli, Mumbai – 400018, |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Building No. 10,
8th Floor, Tower – B, DLF Cyber City, Phase – IInd, Gurgaon, Haryana – 122
002, India |
|
PAN No.: |
AAIFB0630K |
|
|
|
|
Ultimate Holding Company : |
Continental Aktiengesellschaft, Netherlands |
|
|
|
|
Holding Company : |
Modi Rubber Limited CIN No.:- L25199UP1971PLC003392 |
|
|
|
|
Fellow Subsidiaries : |
Spin Investment India Limited CIN No.:- U74899DL1982PLC013733 ·
Barum Continetal, Spol. S.R.O. ·
Continental Sime Tyre PJ Sdn Bhd ·
Continental France SNC ·
Continental Sime Tyre AS Sdn Bhd ·
Continental Mabor ·
Continental Matador Rubber, s.r.o ·
Continental Reifen Deutschland GmbH ·
Continental Tires (Shanghai) Company Limited ·
Continental Automotive Company |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs. 2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
181994161 |
Equity Shares |
Rs.10/- each |
Rs. 1819.942
Millions |
|
|
|
|
|
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 |
1819.942 |
560.466 |
560.466 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(1648.242) |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(1830.617) |
(362.481) |
|
|
NETWORTH |
171.700 |
(1270.151) |
197.985 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
847.144 |
1482.952 |
1000.866 |
|
|
2] Unsecured Loans |
0.000 |
180.520 |
0.000 |
|
|
TOTAL BORROWING |
847.144 |
1663.472 |
1000.866 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1018.844 |
393.321 |
1198.851 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
466.588 |
536.519 |
587.695 |
|
|
Capital work-in-progress |
5.412 |
0.287 |
71.259 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1310.142
|
621.888
|
913.712 |
|
|
Sundry Debtors |
721.097
|
499.120
|
592.695 |
|
|
Cash & Bank Balances |
29.912
|
15.776
|
45.134 |
|
|
Other Current Assets |
21.172
|
68.371
|
65.454 |
|
|
Loans & Advances |
486.354
|
133.204
|
198.209 |
|
Total
Current Assets |
2568.677
|
1338.359 |
1815.204 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
579.313
|
390.369
|
374.606 |
|
|
Other Current Liabilities |
1212.275
|
935.817
|
801.914 |
|
|
Provisions |
230.245
|
155.658
|
98.789 |
|
Total
Current Liabilities |
2021.833
|
1481.844 |
1275.309 |
|
|
Net Current Assets |
546.844
|
(143.485)
|
539.897 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1018.844 |
393.321 |
1198.851 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4782.912 |
6149.683 |
3579.493 |
|
|
|
Other Income |
2.568 |
32.003 |
96.846 |
|
|
|
TOTAL (A) |
4785.480 |
6181.686 |
3676.339 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
4080.525 |
5442.550 |
2563.910 |
|
|
|
Purchases of Stock in Trade |
122.375 |
647.116 |
465.282 |
|
|
|
Employee related expenses |
498.363 |
443.348 |
329.570 |
|
|
|
Other Expenses |
1395.167 |
659.853 |
338.134 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(449.699) |
0.000 |
0.000 |
|
|
|
Exceptional
Items |
(26.070) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
5620.661 |
7192.867 |
3696.896 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(835.181) |
(1011.181) |
(20.557) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
290.920 |
383.401 |
164.245 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1126.101) |
(1394.582) |
(184.802) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
75.874 |
73.554 |
61.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1201.975) |
(1468.136) |
(246.016) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(1201.975) |
(1468.136) |
(246.016) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(362.482) |
(116.466) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(1830.618) |
(362.482) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(10.07) |
(26.19) |
(4.39) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(25.12)
|
(23.75) |
(6.70) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(25.13)
|
(23.87) |
(6.87) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(39.60)
|
78.31 |
(10.24) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(7.00)
|
(2.62) |
(1.24) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.93
|
(1.31) |
5.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
0.90 |
1.42 |
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 |
No |
|
UNSECURED LOAN |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Rupee term loans others unsecured |
0.000 |
80.000 |
|
Other debt unsecured |
0.000 |
100.000 |
|
Interest accrued due other debt unsecured |
0.000 |
0.520 |
|
|
|
|
|
TOTAL |
0.000 |
180.520 |
NOTE
Registered office has been shifted from 4/7 C, DDA Shopping Centre, New Friends
Colony, New Delhi-110025, India to the present address w.e.f. 15.07.2011.
INDIAN ECONOMY AND
FUTURE OUTLOOK
As reported in
Economic Survey of 2011-12, GDP grew by 6.9% in 2011-12 as compare to the
growth of 8.4% in 2010-11. The inflation (WPI) at 9.1% in Financial Year
2011-12 led to consistent interest rate hikes, affecting demand adversely. The
manufacturing sector grew by 3.9% during the year as compare to 7.6% during
2010-11. The fragile economic recovery in the US and Europe and moderately subdued
expectation at home affected the growth of the industrial sector in the current
year. The agricultural output is expected to grow by 2.5%, lower than expected
as compared to a high growth of 7% in 2010-11. Export and import grew
positively by 23.5% and 29.4% compared to 2010-11 despite difficult conditions
in the global economy.
This slowdown in the economic activity had a direct impact on the
automotive sector.
Depreciation of
rupee in the second half of year 2011-12 led to costlier imports and higher
domestic input cost. As a result, profitability has been severely affected
The Automotive
sector is also affected by the slowdown of economic activity. However the
Indian Tyre industry grew by 5.3% in terms of volume despites of economic slowdown
and high inputs costs in the year 2011-12. The year reported bit decline in the
demand in replacement market subdued OEM demand growth and healthy export
growth.
The future outlook
for Tyre Industry in India is in rising trend in line with the tremendous
growth in the automotive sector. The Company is putting its efforts in ramping
up its operations in the replacement market and OEM category. The Company
believes that radialisation will be the driving force in the Indian truck tyre
market and hence initiated its steps towards set up of radial expansion plant
in order to have wider penetration in the radial tyres category in the coming
years.
FIXED ASSETS
·
Software License
·
Freehold Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Computers
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. 54.73 |
|
|
1 |
Rs. 82.14 |
|
Euro |
1 |
Rs. 71.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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 |
|
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.