MIRA INFORM REPORT
|
Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
FIVES STEIN INDIA PROJECTS PRIVATE LIMITED [w.e.f.31.01.2008] |
|
|
|
|
Formerly Known
As : |
STEIN HERURTEY INDIA PROJECTS PRIVATE LIMITED |
|
|
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Registered
Office : |
Kanak Building,
41, Chowringhee Road, 4th Floor, Kolkata – 700071, West Bengal |
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Country : |
India |
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|
|
Financials (as
on) : |
31.12.2011 |
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|
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Date of
Incorporation : |
11.01.1994 |
|
|
|
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Com. Reg. No.: |
21-061416 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 3.555
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45209WB1994PTC061416 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Construction and Engineering Activities. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 168700 |
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|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
There appears some loss during 2011-2012. However, general financial position is good. The company operates on
its own fund. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitments. |
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 |
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 : |
Kanak Building,
41, Chowringhee Road, 4th Floor, Kolkata – 700071, West Bengal,
India |
|
Tel. No.: |
91-33-22657484/ 7489 |
|
Fax No.: |
91-33-22643636 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 08.05.2012
|
Name : |
Benoit Marie Michel Caratge |
|
Designation : |
Chairman |
|
Address : |
2 Avenue Des Terrasses Marnes La Coquette France 92430 |
|
Date of Birth/Age : |
04.01.1954 |
|
Date of Appointment : |
19.09.2011 |
|
DIN No.: |
05203065 |
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|
|
|
Name : |
Methil Radhakrishnan |
|
Designation : |
Managing director |
|
Address : |
Flat No. 2E and 3E, Hindustan Park, Kolkata – 700029, West Bengal,
India |
|
Date of Birth/Age : |
31.10.1955 |
|
Date of Appointment : |
06.07.2010 |
|
PAN No.: |
AACPR0080R |
|
DIN No.: |
03287204 |
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|
|
|
Name : |
Florent Olivier Prime |
|
Designation : |
Director |
|
Address : |
Flat No. 304, 3rd Floor, Rai Enclave, 7/1A, Sunny Park,
Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
16.05.1979 |
|
Date of Appointment : |
12.09.2011 |
|
DIN No.: |
05116067 |
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|
|
|
Name : |
Sreemanta Kumar Dan |
|
Designation : |
Director |
|
Address : |
17, Sangeetha Apartment, 15A, South Boad, Road, T. Nagar, Chennai –
600017, Tamilnadu, India |
|
Date of Birth/Age : |
07.07.1954 |
|
Date of Appointment : |
16.09.2008 |
|
DIN No.: |
02179493 |
|
|
|
|
Name : |
Hugues Jacques Christian Marie De Mallmann |
|
Designation : |
Director |
|
Address : |
63 Avenue Jeanne Leger 78150 Le Chesnay France 78150 |
|
Date of Birth/Age : |
04.11.1967 |
|
Date of Appointment : |
06.07.2010 |
|
DIN No.: |
03166265 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.05.2012
|
Names of Shareholders |
|
No. of Shares |
|
Fives Stein, France |
|
35550 |
|
Fives, France |
|
1 |
|
|
|
|
|
Total |
|
35551 |
AS ON 08.05.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction and Engineering Activities. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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|
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Banking Relations
: |
-- |
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|
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Bengal Intelligent Park, Building Alpha,1st Floor, EP & GP,
Sector-V, Salt Lake Electronics Complex, Kolkata – 700091, West Bengal, India |
|
Tel. No.: |
91-33-66121000 |
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Fax No.: |
91-33-66121001 |
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Income-tax
PAN of auditor or auditor's firm : |
AADFD5357J |
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|
|
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Holding Company : |
Ø Fives Stein
France |
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Ultimate Holding Company : |
Ø Fives, France |
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|
Fellow Subsidiaries : |
Ø Fives Stein
Bilbao SA Ø Fives India
Engineering and Projects Private Limited Ø Fives Stein
Belgium |
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|
Group Companies : |
Ø Fives China Ø Fives Mexico Ø Fives Thailand Ø Fives Information Services GIE Ø Fives Turkey Ø Fives Engineering (Shanghai) Company Limited Ø Fives Stein (Shanghai) Industrial Furnace Company Limited Ø Fives Japan Ø Fives Russia and CIS Ø Fives Brazil Ø Fives India |
CAPITAL STRUCTURE
AS ON 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,551 |
Equity Shares |
Rs. 100/- each |
Rs. 3.555
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 [12 Months] |
31.12.2010 [9 Months] |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.555 |
3.555 |
3.555 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
38.628 |
44.946 |
29.221 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
42.183 |
48.501 |
32.776 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
42.183 |
48.501 |
32.776 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.645 |
7.067 |
6.283 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
9.749 |
9.295 |
4.216 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
2.659 |
|
|
Sundry Debtors |
159.699
|
233.414 |
263.706 |
|
|
Cash & Bank Balances |
95.775
|
82.649 |
72.715 |
|
|
Other Current Assets |
18.798
|
10.377 |
42.873 |
|
|
Loans & Advances |
16.104
|
52.583 |
77.881 |
|
Total
Current Assets |
290.376
|
379.023 |
459.834 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
99.550
|
194.131 |
176.960 |
|
|
Other Current Liabilities |
157.719
|
145.346 |
250.354 |
|
|
Provisions |
10.318
|
7.407 |
10.243 |
|
Total
Current Liabilities |
267.587
|
346.884 |
437.557 |
|
|
Net Current Assets |
22.789
|
32.139 |
22.277 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
42.183 |
48.501 |
32.776 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 [12 Months] |
31.12.2010 [9 Months] |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
228.062 |
437.998 |
890.877 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
232.074 |
412.881 |
825.404 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(4.012) |
25.117 |
65.473 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.134 |
0.247 |
0.426 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(4.146) |
24.870 |
65.047 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.458 |
1.789 |
1.946 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(6.604) |
23.081 |
63.101 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.286) |
7.356 |
15.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(6.318) |
15.725 |
48.095 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
44.946 |
29.221 |
(18.874) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
38.628 |
44.946 |
29.221 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.625 |
0.000 |
0.991 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(177.72) |
442.31 |
1352.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 [12 Months] |
31.12.2010 [9 Months] |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.77)
|
3.59 |
5.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.20)
|
5.98 |
13.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16)
|
0.48 |
1.93 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.09 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note:
The registered office of the company has been shifted from 8/1,
Middleton Row, Kolkata – 700071, West Bengal, India to the present
w.e.f.28.02.2011.
PERFORMANCE AND FUTURE PROSPECTS
During
the twelve months period starting on 1st January 2011, the Company
had to continue all its transformation efforts in a very challenging environment,
consequence of very low order book at the beginning of the year 2011. The
company achieved a tremendous growth of its order book in 2011, from 27 crores
as of January 1", 2011 to 90 crores as of December 31s1 2011.
In the same time, the Company has achieved Rs. 230.000 Millions sales and has
successfully kept Rs. 390.000 Millions of accumulated profit carried to Balance
Sheet. This is the consequence of a sustained effort for cost-controlled,
continuous transformation and efficient execution process implemented since the
last five years.
The
Company was deeply involved in the erection and the commissioning of the
following projects during this period:
Ø Visakhaptnam Steel
Plant: Walking Beam Digital Reheating Furnace - 1 x 200 TPH for Billets;
Ø Jindal Steel and
Power Limited: Walking Beam Digital Reheating Furnaces - 1 x 200 TPH (Patratu,
Jharkhand) and 1 x 280 TPH (Angul, Orissa).
Ø Tata Bluescope:
Coating Line, in association with SVL
The
company has achieved following milestones in this respect:
Ø The 200 TPH project
for Jindal Steel and Power Limited was commissioned in March 2011 (Patratu).
Ø The fust hot product
for Jindal Steel and Power Limited Angul 280 TPH has been achieved on December
11* 2011.
Ø The first hot billet
of Visakhaptnam Steel Plant has been delivered on February 27th,
2012.
Ø The official Metal on
Strip for Tata Bluescope has taken place on February 2012.
In
February 2011, the Company signed a contract for the design, supply, erection
and commissioning of one 200 TPH Billet Reheating Furnace for Bar and Rod Mill
with Bhilai Steel Plant (Steel Authority of India Limited).
In
September 2011, the Company had a second huge success, with the signing of a
contract for design, supply, erection, testing and commissioning for replacement
of a Pusher type Re-heating furnace by a Walking Beam type Furnace in Hot Strip
Mill of SAIL Bokaro Steel Plant at Bokaro Steel City, on turnkey basis.
These
two contracts will ensure a significant workload in 2012 and 2013. Furthermore,
the company is contemplating many other turnkey prospects for which the Company
is currently bidding, including several reheating furnaces, processing lines
(with good orders expected), and glass turnkey projects. Finally, the Company
has already booked spares parts for more than 1 crore in 2012.
On
28th February 2011, the Company shifted its entire premises to a new
location on Chowringhee Road (Kolkata 700 071). These new premises are better
organized and more modern than the previous ones and will allow the Company's
employees to work more efficiently in line with today's engineering business
requirements.
The marketing, execution and safety teams will be reinforced during the next financial year to meet the perspectives of Indian market in line with Fives Stein division global strategy.
CONTINGENT
LIABILITIES:
|
Particulars |
31.12.2011 [12 Months] |
31.12.2010 [9 Months] |
|
|
(Rs. in Millions) |
|
|
Bank Guarantee Outstanding |
40.278 |
110.817 |
|
Claims made against the company but not acknowledged as Debts |
|
|
|
- Sales Tax |
72.814 |
1.104 |
|
- Income Tax |
129.299 |
35.807 |
FIXED ASSETS:
Ø Plant and
Machineries
Ø Air Conditioners
Ø Computers
Ø Electrical
Installation
Ø Office Equipments
Ø Furniture and
Fixture
Ø Vehicles
Ø Computer Software
WEBSITE DETAILS
PRESS RELEASE:
PRODUCTIVEZ!: SYMOP
AWARDS ITS LABEL TO A FIVES CUSTOMER IN RECOGNITION OF PRODUCTION PLANT
UPGRADES
4.19.2013
Wednesday April 10 saw the first PRODUCTIVEZ! Label awards ceremony at the Assemblée Nationale in Paris (France). Organized and hosted by SYMOP, the French association for manufacturing technologies, and sponsored by Daniel Goldberg, Member of the French Parliament for Seine Saint Denis and rapporteur for the government mission on the cost of production in France, this event presented awards to 26 companies from all over France in recognition of their commitment to improved competitiveness by investing in production resources. The award winners included SALM (the company behind Schmidt/Cuisinella kitchens), which was nominated by the Fives Group.
This Alsace-based kitchen manufacturer received its award for the way it has optimized its kitchen panel production flows to reduce kitchen production lead times from 7 days to 1 day. Fives has made a major contribution to this performance by supplying a panel storage system comprising 4 loading robots of storage trolleys (cycle time: 3 seconds per panel), 2 trans stockers with wireless infrared data transmission technology and laser telemetry, a robotized front panel machining and sorting unit and high-pressure water cutters for precise panel cutting.
Introduced by SYMOP last September, the PRODUCTIVEZ! label is a program of initiatives designed to promote investment and innovation in production resources. “The value of a label promoting corporate commitment has quickly become apparent by creating a positive snowball effect that is benefiting French industry as a whole,” says SYMOP President Jean-Camille Uring.
Designed as a brand in its own right, this label provides a guarantee that the
company concerned has met three key criteria in upgrading its production
facilities: a recent upgrade by a company based in France, measurable
productivity gains that respond directly to the needs of markets and therefore
customers, and a positive effect on employment in terms of improved working
conditions, training or direct recruitment of new personnel.
This first event was really just stage one, because another label presentation ceremony is scheduled for this fall, to be followed by the 2013 Productivez! awards at the end of the year, when special awards will be presented to the year’s Top 3 label holders.
SOLIOS THERMAL CONTRACT
FOR EMAL
4.11.2013
Solios Thermal has been awarded a contract for the supply of
a Liquid Metal Transfer and Delivery System
(LMT) at EMAL in Abu Dhabi.
The system will be designed to transport molten aluminium from the EMAL smelter to other secondary aluminium production plants in the Kizad Industrial Zone near Abu Dhabi via the public roads. The molten aluminium will be transported at a temperature of 800°C in specially-designed transport crucibles, with minimum heat loss.
The scope of work includes the engineering and supply of:
- Three molten aluminium transport crucibles of 14,5t capacity, refractory
lined and with bottom tap hole emptying mechanism,
- Three molten aluminium crucible road transport trailers,
- One tapping crucible tilting station, with transfer launder and access
stairs,
- One molten aluminium crucible pre-heating station,
- Crucible lifting beam.
Molten aluminium will be transferred at a dedicated transfer station from potroom tapping crucibles to the transport crucibles. Those transport crucibles will be pre-heated to 600°C prior to transfer of molten aluminium, and after filling the metal, will be transported to downstream producers.
Solios Thermal will also design and supply the transfer launder system to allow safe emptying of the transport crucibles at EMAL’s customer sites.
This package extends Fives Solios’ scope and strengthens our position as a Casthouse solution provider Contrat Solios Thermal pour Emal
FIVES CINETIC
STRENGTHENS ITS POSITION AS A KEY SUPPLIER TO THE AERONAUTICS MARKET
3.25.2013
In order to increase its production capacity and respond to
growing demand from the aeronautics market, Figeac Aero, a well-known player in
the machining of aeronautical parts, has renewed its confidence in Fives
Cinetic with a contract for the supply of three high-speed MGP 150 machining
centers. These new machines will be installed at the Fouchana site, in Tunisia,
in 2013, increasing the number of Figeac Aéro’s MGP 150 centers to six.
Given the major industrial challenge presented by this investment, technical
support will be provided by Fives Cinetic to allow Figeac Aéro to rapidly
obtain the optimum performances from these machines.
Snecma (Safran), a leading aeronautical and space engine manufacturer, has
awarded Fives Cinetic a contract for the industrial transfer and mechanical and
electrical retrofitting of a horizontal broaching machine designed to equip a
turbine disc production line. The machine was assessed and dismantled by Fives
Cinetic in the United States. It is currently being renovated in France before
being installed and started up in fall 2013.
These orders confirm the appeal of Fives Cinetic’s technologies and expertise
among the major players in the aeronautical sector.
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. 54.16 |
|
|
1 |
Rs. 83.88 |
|
Euro |
1 |
Rs. 71.00 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.