MIRA INFORM REPORT
|
Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ESSAE-TERAOKA LIMITED |
|
|
|
|
Registered
Office : |
410, 100 Feet Road, 4th Block, Kormangala,
Bangalore-560034, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.04.1986 |
|
|
|
|
Com. Reg. No.: |
08-007560 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.819 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1986PLC007560 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electronic Weighing Machine, Point of Sale,
information kiosk, sybcronised gps clock
|
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 4400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a fine track record. Financial position of the company is sound and healthy. Directors are
well experienced and knowledgeable businessmen. Trade relations are reported as trustworthy. Business is active.
Payment terms are regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and condition. |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Renuka Prasad |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-80-30213019 |
|
Date : |
30.03.2013 |
LOCATIONS
|
Registered Office : |
410, 100 Feet Road, 4th Block, Kormangala,
Bangalore-560034, Karnataka, India |
|
Tel. No.: |
91-80-30213019 |
|
Fax No.: |
91-80-30213001 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
No.4 B, Mommasandra Industrial Area, Bangalore-560099, Karnataka,
India |
DIRECTORS
AS ON 22.06.2012
|
Name : |
Mr. Prabhu Chandran |
|
Designation : |
Managing Director |
|
Address : |
No.124, ‘Shree’, 2nd Cross, 17th Main 5th
Block, Koramangala, Bangalore-560095, Karnataka, India |
|
Date of Birth/Age : |
19.03.1970 |
|
Date of Appointment : |
30.07.1997 |
|
PAN No.: |
ACNPC3385M |
|
DIN No.: |
01255205 |
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 |
U85110KA1986PLC007560 |
ESSAE
-TERAOKA LIMITED |
Managing
director |
30/07/1997 |
30/07/1997 |
Active |
NO |
|
2 |
U29196KA1999PTC025297 |
ESSAE
ELECTRONICS PRIVATE LIMITED |
Managing
director |
04/06/1999 |
04/06/1999 |
Active |
NO |
|
3 |
U51909KA1970PTC001967 |
TECHNO
TRONICS PRIVATE LIMITED |
Managing
director |
22/05/2004 |
22/05/2004 |
Active |
NO |
|
Name : |
Mr. Bhaskar Narayana |
|
Designation : |
Whole Time Director |
|
Address : |
# 904, B-1, L and T South City Micro Arakere Layout, Bannerghatta
Road, Bangalore-560076, Karnataka, India |
|
Date of Birth/Age : |
27.11.1949 |
|
Date of Appointment : |
26.09.1990 |
|
DIN No.: |
00927814 |
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 |
U85110KA1986PLC007560 |
ESSAE
-TERAOKA LIMITED |
Whole-time
director |
01/08/2010 |
26/09/1990 |
Active |
NO |
|
Name : |
Mr. Kazuharu Teraoka |
|
Designation : |
Director |
|
Address : |
Teraoka Seiko Company Limited, 13-12, Kughara 5- Chome, Ohta-Ku,
Tokyo-146 |
|
Date of Appointment : |
30.09.1991 |
|
DIN No.: |
01244220 |
|
|
|
|
Name : |
Mr. Kimiyuki Takano |
|
Designation : |
Director |
|
Address : |
Teraoka Seiko Company Limited, 13-12, Kughara 5- Chome, Ohta-Ku,
Tokyo-146 |
|
Date of Appointment : |
14.08.1986 |
|
DIN No.: |
01254733 |
KEY EXECUTIVES
|
Name : |
Mr. Renuka Prasad |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.06.2012
|
Names of Shareholders |
No. of Shares |
|
S A Chandran |
4559 |
|
S A Chandran HUF |
344 |
|
Parbhu Chandran |
31696 |
|
Uma Chandran |
2942 |
|
Shanthi Bhaskar |
12530 |
|
Srividhya Prabhu |
100 |
|
S A Venkatesan |
2361 |
|
V Padmavathy |
2239 |
|
Prakash Venkatesan |
12314 |
|
S A Subramanian |
5173 |
|
Balaji Subramanian |
3534 |
|
Narasimha Subramanian |
3530 |
|
K S Saroja |
1091 |
|
S A Viswanathan |
4457 |
|
S A Viswanathan HUF |
152 |
|
Mallika Viswanathan |
2530 |
|
Vidhya Viswanathan |
3043 |
|
Karthik Viswanathan |
35 |
|
C M Pal |
90 |
|
M N Jayaraman |
217 |
|
P C Singhvi |
150 |
|
N Bhaskar |
100 |
|
Teraoka Seiko Company Limited, Tokyo |
5000 |
|
TOTAL
|
98187 |
AS ON 22.06.2012
|
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 |
5.00 |
|
Directors or relatives of Directors |
94.00 |
|
Others |
1.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electronic Weighing Machine, Point of Sale,
information kiosk, sybcronised gps clock
|
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|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cash, Credit |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Electronic Weighing Machine |
Nos. |
61000 |
60,605 |
|
Point of Sale |
Nos. |
1000 |
925 |
|
KIOSK |
Nos. |
100 |
74 |
|
Electronic Cash Register |
Nos. |
300 |
246 |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
30 (Approximately) |
|
|
|
|
Bankers : |
Tel No.: - 91-80-25589502 |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M A Narasimhan and Company Chartered Accountant |
|
Address : |
# 25 (Old
No.13), 7th Cross, S. P. Extension, Malleshwaram, Bangalore-560003,
Karnataka, India |
|
PAN No.: |
AAGFM7833H |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98187 |
Equity Shares |
Rs.100/-
each |
Rs. 9.819
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 |
9.819 |
9.819 |
9.819 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1100.966 |
988.360 |
872.249 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1110.785 |
998.179 |
882.068 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
3.003 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
3.003 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1110.785 |
1001.182 |
882.068 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
863.617 |
693.062 |
725.489 |
|
|
Capital work-in-progress |
0.000 |
97.155 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
118.395 |
147.222 |
115.120 |
|
|
DEFERREX TAX ASSETS |
47.921 |
33.908 |
24.764 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
112.124
|
112.470 |
77.184 |
|
|
Sundry Debtors |
171.306
|
124.702 |
105.925 |
|
|
Cash & Bank Balances |
19.711
|
6.995 |
29.553 |
|
|
Other Current Assets |
4.111
|
5.090 |
74.663 |
|
|
Loans & Advances |
69.902
|
38.226 |
0.000 |
|
Total
Current Assets |
377.154
|
287.483 |
287.325 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
67.201
|
71.940 |
65.582 |
|
|
Other Current Liabilities |
202.378
|
150.771 |
129.057 |
|
|
Provisions |
26.723
|
34.937 |
75.991 |
|
Total
Current Liabilities |
296.302
|
257.648 |
270.630 |
|
|
Net Current Assets |
80.852
|
29.835 |
16.695 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1110.785 |
1001.182 |
882.068 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1005.340 |
907.868 |
679.264 |
|
|
|
Other Income |
11.797 |
7.373 |
171.886 |
|
|
|
TOTAL (A) |
1017.137 |
915.241 |
851.150 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
347.801 |
318.340 |
|
|
|
|
Purchases of stock-in-trade |
55.321 |
46.790 |
|
|
|
|
Employee benefit expense |
167.338 |
147.412 |
|
|
|
|
Other expenses |
188.921 |
140.609 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(3.219) |
(8.780) |
|
|
|
|
TOTAL (B) |
756.162 |
644.371 |
635.013 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
260.975 |
270.870 |
216.137 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.519 |
0.069 |
2.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
260.456 |
270.801 |
214.133 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
64.172 |
44.259 |
47.808 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
196.284 |
226.542 |
166.325 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
50.585 |
60.053 |
48.495 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
145.699 |
166.489 |
117.830 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
648.094 |
549.498 |
467.015 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
14.600 |
16.700 |
11.000 |
|
|
|
Withdrawal of Investment Contingency
Reserve |
1.164 |
0.815 |
(2.648) |
|
|
|
Dividend |
28.474 |
43.202 |
23.074 |
|
|
|
Tax on Dividend |
4.619 |
7.176 |
3.921 |
|
|
BALANCE CARRIED
TO THE B/S |
744.936 |
648.094 |
549.498 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
18.058 |
11.375 |
|
|
TOTAL EARNINGS |
NA |
18.058 |
11.375 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
130.905 |
73.956 |
|
|
TOTAL IMPORTS |
NA |
130.905 |
73.956 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1484 |
1696 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
14.32
|
18.19 |
13.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.52
|
24.95 |
24.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.23
|
22.33 |
16.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.23 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.12 |
1.06 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Term Loans From Banks |
0.000 |
3.003 |
|
|
|
|
|
TOTAL |
0.000 |
3.003 |
PERFORMANCE DURING THE YEAR FOLLOWING ARE THE KEY
HIGHLIGHTS FOR THE YEAR
The company registered
a sale of Rs. 870.900 Millions and PAT of Rs.145.600 Millions. Since April
2011, the company shifted its HQ and Registered office to 410, 100ft Road, 4th
Block
OUTLOOK FOR THE CURRENT YEAR
The Weighing and
POS businesses are expected to see robust growth during the current year. The
company will
continue to
maintain its high focus on R and D and several new models are in final stages
of development. The GPS Synchronized Clock division is currently in the process
of establishing the manpower and dealer network and is expected to start
contributing significant revenues from the middle of the current year.
Initially, the large existing customer base is proposed to be tapped for this
product. The company also proposes to increase the service revenue by focusing
on Key accounts and strengthening the service franchisee network for SME
customers. The Bommasandra factory is proposed to be further expanded by adding
9000 sq ft of factory space. This expansion will be completed during the middle
of the year and will greatly enhance the production capacity of the plant and
ability to executive large orders. The weakening rupee continues to be cause of
serious concern and will impact the bottom line. This impact is proposed to be
countered by a combination of price revisions, maintaining strict discipline on
discounts and Value engineering. The rising HR costs are also a serious threat
and is proposed to be countered by improving the productivity at all levels and
maintaining the high focus on value-added solutions. The company received a
large order for 1,000 POS Scale systems during the beginning of the current
year from the Department of Food and Civil Supplies, Government of Karnataka
after competitive tender bidding and stringent qualification process. These
systems will be deployed in all Fair price shops in Tumkur district. The
company is providing total customized solution for this project including
hardware and software application solution. The execution of this project is
expected to be completed during the middle of the current year and is expected
to greatly improve the efficiency of the Public Distribution System.
FIXED ASSETS
- Land
- Building
- Furniture and
Fixtures
- Motor
Vehicles
- Office
Equipment
- Motor Car
- Computer
- Infrastructure
Capital Equipment
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. 54.38 |
|
|
1 |
Rs. 82.32 |
|
Euro |
1 |
Rs. 69.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
59 |
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.