MIRA INFORM REPORT
|
Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
THERMO CABLES LIMITED |
|
|
|
|
Registered
Office : |
28, Nagarjuna Hills, Punjagutta, Hyderabad – 500082, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.05.1990 |
|
|
|
|
Com. Reg. No.: |
01-011331 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.222.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300AP1990PLC011331 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT00394C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Instrumentation Signal Cables, Power / Control Cables, Thermocouple Extension / Compensating Cables, Telephone Cables, Fire Survival / Resistant Cables and Insulated Cables and Wires for High Temperature applications. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
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 But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
company has shown some improvement in its performance during 2012 but the
financial strength of the company is moderate. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some
cautions. |
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 |
BBB-(Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
12.11.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
12.11.2012 |
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 / Corporate Office : |
28, Nagarjuna Hills, Punjagutta, Hyderabad – 500082, Andhra Pradesh,
India |
|
Tel. No.: |
91-40-44429292 |
|
Fax No.: |
91-40-23350583 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Offices : |
Located at :
|
|
|
|
|
Overseas Office : |
Thermopads UK
Limited 16 Ascot Court, Groove End Road, London, UK, NW8 9RY |
|
Tel. No.: |
+44 (0) 207 286 9569 |
|
E-Mail : |
DIRECTORS
AS ON 20.09.2012
|
Name : |
Mr. Nandkishor Ghurka |
|
Designation : |
Director |
|
Address : |
28, Nagarjuna Hills, Punjagutta, Hyderabad- 500082, Andhra Pradesh, India
|
|
Date of Birth/Age : |
27.05.1948 |
|
Qualification : |
M Tech |
|
Date of Appointment : |
30.05.1990 |
|
PAN No.: |
AEIPG9125L |
|
DIN No.: |
01082250 |
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 |
U33125TN1980PTC047707 |
TOSHNIWAL
BROTHERS (HYD) PRIVATE LIMITED |
Director |
15/12/1980 |
15/12/1980 |
Active |
NO |
|
2 |
U31300AP1990PLC011331 |
THERMO
CABLES LIMITED |
Director |
30/05/1990 |
30/05/1990 |
Active |
NO |
|
3 |
U24110AP1992PTC013781 |
THERMOPADS
PRIVATE LIMITED |
Managing
director |
07/12/2011 |
29/01/1992 |
Active |
NO |
|
4 |
U24110AP1998PTC029118 |
THERMO
POLYMERS PRIVATE LIMITED |
Managing
director |
07/12/2011 |
26/03/1998 |
Active |
NO |
|
5 |
U24220AP2005PTC046567 |
THERMOSYSTEMS
PRIVATE LIMITED |
Managing
director |
07/12/2011 |
16/06/2005 |
Active |
NO |
|
6 |
U74999AP2007PTC056343 |
AQUARIUS
AEROSPACE SERVICES PRIVATE LIMITED |
Director |
16/11/2007 |
16/11/2007 |
Active |
NO |
|
Name : |
Ms. Uma Ghurka |
|
Designation : |
Director |
|
Address : |
28, Nagarjuna Hills, Punjagutta, Hyderabad- 500082, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.01.1954 |
|
Qualification : |
B Tech |
|
Date of Appointment : |
30.05.1990 |
|
PAN No.: |
ADRPG7397Q |
|
DIN No.: |
00351117 |
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 |
U31300AP1990PLC011331 |
THERMO
CABLES LIMITED |
Managing
director |
01/07/2011 |
30/05/1990 |
Active |
NO |
|
2 |
U24110AP1992PTC013781 |
THERMOPADS
PRIVATE LIMITED |
Whole-time
director |
29/01/1992 |
29/01/1992 |
Active |
NO |
|
3 |
U24110AP1998PTC029118 |
THERMO
POLYMERS PRIVATE LIMITED |
Director |
26/03/1998 |
26/03/1998 |
Active |
NO |
|
4 |
U80900AP2005NPL045601 |
CONFEDERATION
OF WOMEN ENTREPRENEURS |
Director |
11/03/2005 |
11/03/2005 |
Active |
NO |
|
5 |
U24220AP2005PTC046567 |
THERMOSYSTEMS
PRIVATE LIMITED |
Director |
19/02/2007 |
19/02/2007 |
Active |
NO |
|
6 |
U74999AP2007PTC056343 |
AQUARIUS
AEROSPACE SERVICES PRIVATE LIMITED |
Director |
16/11/2007 |
16/11/2007 |
Active |
NO |
|
7 |
U25200AP2010PTC067387 |
THERMO
POLYMATRIX PRIVATE LIMITED |
Managing
director |
05/03/2010 |
05/03/2010 |
Active |
NO |
|
Name : |
Ms. Medha Kabra |
|
Designation : |
Director |
|
Address : |
Senior Office Quarter No.1, Shovry Bhaan Complex, Road No.10,
Hyderabad-500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.09.1984 |
|
Date of Appointment : |
01.10.2011 |
|
PAN No.: |
ACWPG9560F |
|
DIN No.: |
05325786 |
|
|
|
|
Name : |
Mr. Ghurka Chetan |
|
Designation : |
Director |
|
Address : |
28, Nagarjuna Hills, Punjagutta, Hyderabad- 500082, Andhra Pradesh,
India |
|
Date of Birth/Age : |
01.08.1980 |
|
Qualification : |
B Tech |
|
Date of Appointment : |
19.02.2007 |
|
DIN No.: |
01224944 |
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 |
U31300AP1990PLC011331 |
THERMO
CABLES LIMITED |
Director |
19/02/2007 |
19/02/2007 |
Active |
NO |
|
2 |
U24220AP2005PTC046567 |
THERMOSYSTEMS
PRIVATE LIMITED |
Director |
05/02/2008 |
05/02/2008 |
Active |
NO |
|
3 |
U25200AP2010PTC067387 |
THERMO
POLYMATRIX PRIVATE LIMITED |
Director |
05/03/2010 |
05/03/2010 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2012
|
Names of Shareholders |
No. of Shares |
|
Nandkishore Ghurka |
3986344 |
|
Uma Ghurka |
2840000 |
|
Chetan Ghurka |
685000 |
|
Nidhi Ghurka |
1142500 |
|
Kalurarn Nand Kishore HUF |
133000 |
|
Medha Ghurka |
1322500 |
|
N K Ghurka – HUF |
628560 |
|
Ganga Bai Ghurka |
6216 |
|
Ratandevi Toshniwal |
5040 |
|
Prabhat Toshniwal |
840 |
|
Pradeep Pattern, UK |
3000000 |
|
Thermopads Private Limited, India |
8500000 |
|
TOTAL
|
22250000 |
AS ON 20.09.2012
|
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 |
13.48 |
|
Bodies corporate |
38.20 |
|
Directors or relatives of Directors |
44.90 |
|
Other top fifty shareholders |
3.42 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Instrumentation Signal Cables, Power / Control Cables, Thermocouple Extension / Compensating Cables, Telephone Cables, Fire Survival / Resistant Cables and Insulated Cables and Wires for High Temperature applications. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Instrumentation/ T.C. Extension Cables |
Mtrs |
27000000 |
18729390 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. Narsing Rao and Company Chartered Accountants |
|
Address : |
F No. 610, 6th Floor, Babu Khan Estate, Basheer Bagh,
Hyderabad – 500001, Andhra Pradesh, India |
|
PAN No.: |
AACFB1524C |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.10/- each |
Rs. 225.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22250000 |
Equity Shares |
Rs.10/- each |
Rs. 222.500 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 |
222.500 |
142.500 |
75.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
140.344 |
(5.866) |
41.715 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
362.844 |
136.634 |
116.715 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
442.784 |
534.118 |
350.164 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
10.705 |
|
|
TOTAL BORROWING |
442.784 |
534.118 |
360.869 |
|
|
DEFERRED TAX LIABILITIES |
4.160 |
4.943 |
4.248 |
|
|
|
|
|
|
|
|
TOTAL |
809.788 |
675.695 |
481.832 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
267.239 |
254.388 |
224.465 |
|
|
Capital work-in-progress |
0.000 |
3.209 |
26.883 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
234.376
|
191.933
|
100.391 |
|
|
Sundry Debtors |
534.963
|
400.899
|
273.635 |
|
|
Cash & Bank Balances |
32.552
|
18.716
|
0.116 |
|
|
Other Current Assets |
22.968
|
6.840
|
0.000 |
|
|
Loans & Advances |
75.972
|
58.093
|
66.023 |
|
Total
Current Assets |
900.831
|
676.481 |
440.165 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
304.665
|
214.161
|
195.699 |
|
|
Other Current Liabilities |
48.032
|
34.715
|
14.216 |
|
|
Provisions |
5.585
|
9.507
|
0.000 |
|
Total
Current Liabilities |
358.282
|
258.383 |
209.915 |
|
|
Net Current Assets |
542.549
|
418.098
|
230.250 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.234 |
|
|
|
|
|
|
|
|
TOTAL |
809.788 |
675.695 |
481.832 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2442.457 |
1542.990 |
1059.179 |
|
|
|
Other Income |
7.709 |
62.780 |
4.236 |
|
|
|
TOTAL (A) |
2450.166 |
1605.770 |
1063.415 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1987.344 |
1466.762 |
|
|
|
|
Employee benefit expense |
118.259 |
104.339 |
|
|
|
|
Other expenses |
72.208 |
68.165 |
|
|
|
|
Exceptional items |
0.000 |
(0.114) |
|
|
|
|
Extraordinary items |
(1.186) |
0.643 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(19.833) |
(84.923) |
|
|
|
|
TOTAL (B) |
2156.792 |
1554.872 |
1047.563 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
293.374 |
50.898 |
15.852 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
90.207 |
66.050 |
21.625 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
203.167 |
(15.152) |
(5.773) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
30.661 |
31.733 |
11.916 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
172.506 |
(46.885) |
(17.689) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
31.564 |
0.696 |
2.259 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
140.942 |
(47.581) |
(19.948) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
50.297 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA
|
NA
|
30.349 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
3.182 |
0.295 |
|
|
TOTAL EARNINGS |
NA |
3.182 |
0.295 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Capital Goods |
NA |
0.504 |
10.648 |
|
|
TOTAL IMPORTS |
NA |
0.504 |
10.648 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.26 |
(6.13) |
(2.66) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.75
|
(2.96) |
(1.88) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.06
|
(3.04) |
(1.67) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.77
|
(5.04) |
(2.66) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48
|
(0.34) |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.22
|
3.91 |
3.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51
|
2.62 |
2.10 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
COMPANY’S
PERFORMANCE
The Directors are happy
to report that during the year the company has achieved a total turnover of Rs.
2442.500 Millions and made a net profit of Rs.140.900 Millions (after taxes).
FINANCIAL REVIEW
The Company on a
stand-alone basis had net sales of Rs. 2442.500 Millions in financial year
2011-12 against Rs. 1543.000 Millions in financial year 2010-11. The operating
profit before interest, depreciation and tax was Rs. 293.400 Millions in
financial year 2011-12 against Rs. 50.900 Millions in financial year 2010-11.
The interest charges for financial year 2011-12 were Rs. 90.200 Millions
against Rs. 66.100 Millions in financial year 2010-11. Profit after tax was Rs.
140.900 Millions in financial year 2011-12 against Rs. (47.600) Millions in
financial year 2010-11.
PROSPECTS
The company
expects to optimize utilization of its installed capacity during the FY 13 due
to which it expects that the sales also shall be enhanced. The company has
started making inroads in the export markets and has appointed a design leader
for catering to export markets. The company expects the sales from export
segment to go up from Rs.87.500 Millions in FY12 to Rs 400.000 Millions in FY13
.The markets targeted are Middle East countries, north and South Korea, and
Africa.
FIXED ASSETS
- Land
- Factory
Building/Shed
- Plant and
Machinery
- Computers
- Computer
Software
- Furniture and
Fixtures
- Motor
Vehicles
- Office
Equipments
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. 54.26 |
|
|
1 |
Rs. 81.93 |
|
Euro |
1 |
Rs. 70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.