MIRA INFORM REPORT
|
Report Date : |
13.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
LAFARGE INDIA PRIVATE LIMITED (w.e.f. 25.05.1999) |
|
|
|
|
Formerly Known
As : |
INFRA CEMENT |
|
|
|
|
Registered
Office : |
Crescenzo, ‘B’ Wing, 10th Floor, C-38 and C-39, “G” Block, Bandra-Kurla
Complex, Bandra (East), Mumbai – 400 051, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.02.1999 |
|
|
|
|
Com. Reg. No.: |
11-118229 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.3923.630 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26940MH1999PTC118229 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML03158B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL4159L
|
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cements, Ordinary Portland Cements and Portland
Pozzolana Cements. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 73000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a fine track record. The
latest financials are not made available. Available information indicates high
financial responsibility of the company. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating – AA |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
08 February 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating – A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk |
|
Date |
08 February 2013 |
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/ Head Office : |
Crescenzo, ‘B’ Wing, 10th Floor, C-38 and C-39, “G” Block,
Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-67692530/ 66306510/ 11/ 61202633 |
|
Fax No.: |
91-22-67692572/ 66306510/ 67692572 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Regional Operations Office – East |
Block D, 4th Floor, 22, Camac Street, Kolkata – 700016,
West Bengal, India |
|
Tel No.: |
91-33-39832100 |
|
Fax No.: |
91-33-39832133 |
|
|
|
|
Factory : |
Located at: ·
Sonadih, District ·
Jojobera, District Singhbhum, Jharkhand ·
Arasmeta District Janjir – Champa, Chhattisgarh ·
Mejia District Bankura, |
|
|
|
|
Regional Sales Office : |
Locate at: ·
·
Chhattisgarh ·
Jharkhand ·
·
Orissa ·
North East |
DIRECTORS
As on 13.09.2012
|
Name : |
Mr. Ujjwal Batria |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 2C, |
|
Date of Birth/Age : |
24.12.1963 |
|
Date of Appointment : |
16.11.2010 |
|
DIN No.: |
01737515 |
|
PAN No.: |
AGLPB2907Q |
|
|
|
|
Name : |
Mr. Thomas Gerard Farrell |
|
Designation : |
Director |
|
Address : |
103 Rue Paul
Ollendorff, Saint Cloud, Frnace 92210, France |
|
Date of Appointment : |
07.05.2012 |
|
DIN No.: |
05298234 |
|
|
|
|
Name : |
Mr. Jean Desazars De Mantgailhard |
|
Designation : |
Director |
|
Address : |
17, Boulevard, Delessert 75016, Paris, France |
|
Date of Birth/Age : |
26.07.1953 |
|
Date of Appointment : |
17.09.1999 |
|
DIN No.: |
00067288 |
|
|
|
|
Name : |
Mr. Marin Kreigner |
|
Designation : |
Director |
|
Address : |
No.7 Jalan Balau Damansara Heights 50490 Kuala Lampar, Malaysia |
|
Date of Birth/Age : |
06.09.1961 |
|
Date of Appointment : |
07.03.2002 |
|
DIN No.: |
00077715 |
|
|
|
|
Name : |
Mrs. Renu Sud Karnad |
|
Designation : |
Additional Director |
|
Address : |
BB-14, Greater Kailash, Enclave-II, New Delhi – 110 048, India |
|
Date of Birth/Age : |
03.09.1952 |
|
Date of Appointment : |
17.08.2011 |
|
DIN No.: |
00008064 |
|
PAN No.: |
AAEPK2992H |
|
|
|
|
Name : |
Mr. Vinayak Chatterjee |
|
Designation : |
Additional Director |
|
Address : |
E-2278, Palam Vihar, Gurgaon – 122 017, Haryana, India |
|
Date of Birth/Age : |
30.09.1959 |
|
Date of Appointment : |
17.08.2011 |
|
DIN No.: |
00008933 |
|
PAN No.: |
AABPC2139H |
|
|
|
|
Name : |
Mrs. Indu Ranjit Shahani |
|
Designation : |
Director |
|
Address : |
Flat 56, Hill Park, A G Bell Raod, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
17.07.1951 |
|
Date of Appointment : |
13.09.2012 |
|
DIN No.: |
00112289 |
|
|
|
|
Name : |
Mr. Uday Chander
Khanna |
|
Designation : |
Director |
|
Address : |
Centrum Towers,
Flat 182, Centrum Co-Operative, Society Limited, Barkat Ali Road, Wadala,
Mumbai – 40037, Maharashtra, India |
|
Date of Appointment : |
17.08.2011 |
|
DIN No.: |
00079129 |
|
PAN No.: |
AFEPK7061E |
KEY EXECUTIVES
|
Name : |
Mrs. Rubi Chaturvedi |
|
Designation : |
Secretary |
|
Address : |
Aishwarya Tower,
3rd Floor, Flat No. 12, CST Road, Kalina, Santacluz (E), Mumbai - 400098,
Maharashtra, India |
|
Date of Birth/Age : |
31.03.1981 |
|
Date of Appointment : |
21.09.2011 |
|
PAN No.: |
AITPC4586A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
|
|
392363001 |
|
Societe Financiere Immobiliere et |
|
1 |
|
|
|
|
|
Total |
|
392363002 |
Equity Share Break up (Percentage of Total Equity)
As on 13.09.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cements, Ordinary |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Cement |
Metric Tonnes |
NA |
6550000 |
6780078 |
Licensed capacity
per annum not indicated due to abolition of Industrial Licences as per notification
no. 477(E) dated July 25, 1991 issued under Industries (Development and
Regulation), Act, 1951.
*As certified by
the management and relied upon by the Auditors.
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
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Bankers : |
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||||||||||||||||||
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Facilities : |
NOTES Term Loans from Banks
were secured by immovable and movable assets related to Sonadih cement plant
(Line 1) and movable assets related to Jojobera cement plant. Secured by
movable and immovable assets of clinkerisation unit at Sonadih cement plant
(Line 2)and immovable and movable assets of cement grinding unit at Mejia
cement plant Secured by hypothecation of the Company's inventory and receivables. |
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|
Banking
Relations : |
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|
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|
Financial
Institutional: |
IL and FS Trust Company Limited, IL and FS Financial Centre Plot No.
C22, g Block, Bandra, Kurla Complex, Bandra East, Mumbai – 400051,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
22, Camac Street, Block C, 3rd Floor, Kolkata - 700 016,
West Bengal |
|
Tel. No.: |
91-33-66153400 |
|
Fax No.: |
91-33-22817750 |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Ultimate Holding
Company (As on 31.03.2011): |
Lafarge SA |
|
|
|
|
Holding Company
(As on 31.03.2011): |
Financiere Lafarge |
|
|
|
|
Subsidiaries (As
on 31.03.2011): |
·
LI Eastern Private Limited , India (CIN:
U26942ML2006PTC008200) ·
LI Cement Private Limited ·
Arasmeta Coal Mining Company Private Limited . ·
Lafarge Rajasthan Cement Limited, India (CIN: U26959WB1999PLC089065) (Formerly known as GKW Cement Limited) |
|
|
|
|
Fellow
Subsidiaries (As on 31.03.2011): |
·
Lafarge North America Corporate ·
PT Semen Andalas Indonesia ·
Lafarge - Aggregates and Concrete Division ·
Lafarge Umium Mining Private Limited ·
Lafarge Asia Sdn Bhd ·
Lafarge Surma ·
Lafarge Cement Joint Venture Company, Vietnam ·
Lafarge Cement Services (Philippines) Inc. ·
Iligan Cement Corporation, Philippines ·
Lafarge Canada Inc. ·
Lafarge Boral Gypsum India Private Limited ·
Lafarge-Aggregates and Concrete India Private
Limited, India (CIN:
U74900MH2007PTC175495) ·
Centre Technique Inter-Unites Du Groupe Lafarge ·
Lafarge Cement Zambia, Plc. ·
Lafarge Chongging Cement Company Limited ·
Lafarge International Services Singapore Pte
Limited ·
Lafarge Beiging Representative office ·
Lafarge Sui on cement, China ·
Lafarge A and C Malaysia ·
Lafarge Kenya ·
Cementia Trading AG ·
Heracles Cement Company Limited ·
Boral Gypsum India Private Limited India (CIN: U28939DL2006PTC150597) |
|
|
|
|
Associate (As on
31.03.2011): |
Arasmeta Captive
Power Company Private Limited India (CIN:
U40101AP2004PTC061239) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 millions |
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.30000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
392363002 |
Equity Shares |
Rs.10/- each |
Rs.3923.630
millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 millions |
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.30000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
392363002 |
Equity Shares |
Rs.10/- each |
Rs.3923.630
millions |
|
|
|
|
|
NOTE
The entire share capital is held by Financiere
Lafarge, the Holding Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (12 Months) |
31.03.2010 (15 Months) |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3923.630 |
4156.963 |
4156.963 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14423.174 |
12816.785 |
5881.119 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18346.804 |
16973.748 |
10038.082 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7442.755 |
7532.198 |
9595.871 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
7442.755 |
7532.198 |
9595.871 |
|
|
DEFERRED TAX LIABILITIES |
1721.926 |
1581.596 |
1047.000 |
|
|
|
|
|
|
|
|
TOTAL |
27511.485 |
26087.542 |
20680.953 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16371.307 |
16525.494 |
9520.498 |
|
|
Capital work-in-progress |
6488.062 |
4285.225 |
7672.785 |
|
|
|
|
|
|
|
|
INVESTMENT |
2434.525 |
391.405 |
717.225 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1659.799
|
1412.215
|
1447.740 |
|
|
Sundry Debtors |
1176.876
|
403.953
|
395.259 |
|
|
Cash & Bank Balances |
1249.425
|
6109.914
|
6298.573 |
|
|
Other Current Assets |
2.071
|
171.749
|
94.645 |
|
|
Loans & Advances |
5198.796
|
3630.026
|
3642.045 |
|
Total
Current Assets |
9286.967
|
11727.857
|
11878.262 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3896.046 |
4044.092 |
3388.702 |
|
|
Other Current Liabilities |
2415.801
|
2218.036
|
1881.048 |
|
|
Provisions |
757.529
|
580.311
|
3838.067 |
|
Total
Current Liabilities |
7069.376
|
6842.439
|
9107.817 |
|
|
Net Current Assets |
2217.591
|
4885.418
|
2770.445 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27511.485 |
26087.542 |
20680.953 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (12 Months) |
31.03.2010 (15 Months) |
31.12.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (net of excise duty) |
25713.000 |
30422.000 |
23474.000 |
|
|
|
Other Income |
823.000 |
686.000 |
426.000 |
|
|
|
TOTAL |
26536.000 |
31108.000 |
23900.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
18405.000 |
19478.000 |
14967.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
8131.000 |
11630.000 |
8933.000 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND
FINANCE CHARGES |
742.000 |
595.000 |
455.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7389.000 |
11035.000 |
8478.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1145.000 |
1240.000 |
940.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6244.000 |
9795.000 |
7538.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2110.000 |
3252.000 |
2581.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4134.000 |
6543.000 |
4957.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components
& Spares |
268.600 |
150.031 |
103.368 |
|
|
|
Capital Goods |
208.832 |
679.088 |
549.894 |
|
|
|
Raw Materials |
108.031 |
26.395 |
0.000 |
|
|
TOTAL IMPORTS |
585.463 |
855.514 |
653.262 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.01 |
0.02 |
0.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (12 Months) |
31.03.2010 (15 Months) |
31.12.2008 |
|
PAT / Total Income |
(%) |
15.58
|
21.03
|
20.74 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.28
|
32.20
|
32.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
67.23
|
83.52
|
63.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.58 |
0.75 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.41
|
0.44
|
0.96
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.71
|
1.30 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
No |
|
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 |
PERFORMANCE REVIEW
In FY 2010-11, Company’s
total sales volume (Cement + Clinker) recorded a growth of 7% (FY 2010-11:
6,768 Kt vs FY 2009-10: 6,336 Kt).
Company’s sales
volume has gone up by 7% whereas net sales has increased only 2.4%, primarily
on account of de-growth/ subdued growth in various key cement consuming states
driven by lower infrastructure spending, slowdown in realty sector and extended
monsoon. Low cement demand specifically during the second half of the year
adversely impacted the cement prices.
Further EBITDA has
reduced by 12% due to increase in distribution cost, coal prices and other
operating expenses.
FUTURE OUTLOOK
The medium to long
term outlook remains strong; they expect GDP growth for 2011-2012 to be in the
range of 8-8.5% which will sustain the growth momentum of cement demand.
To take advantage
of the industry growth the Company is now accelerating development of green
field projects and has commenced work on building the 2.6 MT new cement plant
in Rajasthan. The ongoing 1.0 MT capacity expansion project at Jojobera is
likely to be commissioned in September 2011.
FIXED ASSETS
·
Goodwill
·
Land
·
Quarry Development
·
Building and Roads
·
Plant and Machinery
·
Railway sidings and
Locomotives
·
Furniture Fixtures and
office Equipments
·
Vehicles
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.54.54 |
|
|
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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 |
|
54 |
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.