1. Summary Information
|
Country |
|
||
|
Company Name |
CONTINENTAL
INDIA LIMITED |
Principal Name 1 |
Mr. Alok Kumar Modi |
|
Status |
Moderate |
Principal Name 2 |
Mr. Peter Maria Fidelius Cornelis Verbruggen |
|
Registration # |
55-153993 |
||
|
Street Address |
1012 -1015, 10th
Floor, |
||
|
Established Date |
16.09.2006 |
SIC Code |
-- |
|
Telephone# |
91-11-43744600 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-43744667 |
Business Style 2 |
|
|
Homepage |
Product Name 1 |
tyres |
|
|
# of employees |
Not Available |
Product Name 2 |
Tubes |
|
Paid up capital |
Rs.1,819,942,000/- |
Product Name 3 |
Flaps |
|
Shareholders |
Bodies corporate 100% |
Banking |
Yes Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
7 Years |
|
IPO |
No |
International Ins. |
CEO |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow
Subsidiary |
|
Spin Investment India Limited |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,258,535,000 |
Current Liabilities |
1,791,588,000 |
|
Inventories |
1,310,142,000 |
Long-term Liabilities |
847,144,000 |
|
Fixed Assets |
466,588,000 |
Other Liabilities |
230,245,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,868,977,000 |
|
Invest& other Assets |
5,412,000 |
Retained Earnings |
(1,648,242,000) |
|
|
|
Net Worth |
171,700,000 |
|
Total Assets |
3,040,677,000 |
Total Liab. & Equity |
3,040,677,000 |
|
Total Assets (Previous Year) |
1,875,165,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
4,782,912,000 |
Net Profit / (Loss) |
(1,201,975,000) |
|
Sales(Previous yr) |
6,149,683,000 |
Net Profit
/ (Loss) (Prev.yr) |
(1,468,136,000) |
|
Report Date : |
01.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONTINENTAL INDIA LIMITED (w.e.f.23.09.2011) |
|
|
|
|
Formerly Known
As : |
MODI TYRES COMPANY LIMITED (w.e.f.12.03.2011) MODI TYRES COMPANY PRIVATE LIMITED (w.e.f.23.06.2007) ZENITH TYRES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1012 -1015, 10th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.09.2006 |
|
|
|
|
Com. Reg. No.: |
55-153993 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.1819.942 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203DL2006PLC153993 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged
in the business of manufacturing tyres and related components for heavy
vehicles |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 680000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Modi Rubber Limited’. It is an established
company having moderate track record. There appear huge accumulated losses recorded by the company.
Financial position of the company is under pressure. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with great
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been named
the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
1012 -1015, 10th Floor, |
|
Tel. No.: |
91-11-43744600 |
|
Fax No.: |
91-11-43744667 |
|
E-Mail : |
|
|
|
|
|
Factory : |
7th Milestone, Meerut-Roorkee Road, Modipuram,
Meerut-250110, Uttar Pradesh, India |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Alok Kumar Modi |
|
Designation : |
Director |
|
Address : |
55-A, Friends Colony East, New Delhi – 110025, India |
|
Date of Birth/Age : |
18.06.1966 |
|
Date of Appointment : |
16.09.2006 |
|
DIN No.: |
00174374 |
|
|
|
|
Name : |
Mr. Peter Maria Fidelius Cornelis Verbruggen |
|
Designation : |
Director |
|
Address : |
Kuilenstraat 51 |
|
Date of Birth/Age : |
22.04.1960 |
|
Date of Appointment : |
15.07.2011 |
|
DIN No.: |
01730049 |
|
|
|
|
Name : |
Mr. Benoit Henri Ghislain Marie Henry |
|
Designation : |
Director |
|
Address : |
90 JlN Setia Murini 6 Bukit Damansara 50490 Kaula Lumpur |
|
Date of Birth/Age : |
17.11.1961 |
|
Date of Appointment : |
15.07.2011 |
|
DIN No.: |
03534144 |
|
|
|
|
Name : |
Mr. Nikolai Setzer |
|
Designation : |
Director |
|
Address : |
Hinter Der Gartnerei 14, 31515, Wunstorf OT Kolenfeld, Wunstrof |
|
Date of Birth/Age : |
20.04.1971 |
|
Date of Appointment : |
15.07.2011 |
|
DIN No.: |
03552400 |
|
|
|
|
Name : |
Mr. Burkhardt Koeller |
|
Designation : |
Additional Director |
|
Address : |
Sperlingsweg 24 ST Berenbostel |
|
Date of Birth/Age : |
26.12.1951 |
|
Date of Appointment : |
09.03.2012 |
|
DIN No.: |
05215542 |
|
|
|
|
Name : |
Mr. Mahesh Prasad Tyagi |
|
Designation : |
Alternate Director |
|
Address : |
A16/72, Vasundhara, Indirapuram, Ghaziabad-201012, Uttar Pradesh,
India |
|
Date of Birth/Age : |
01.08.1947 |
|
Date of Appointment : |
01.09.2012 |
|
DIN No.: |
01835274 |
KEY EXECUTIVES
|
Name : |
Mr. Saroj Kumar Thakur |
|
Designation : |
Secretary |
|
Address : |
House No.1082, Sector -3, Ballabgarh, |
|
Date of Birth/Age : |
04.06.1984 |
|
Date of Appointment : |
20.01.2010 |
|
Pan No.: |
AIXPT2670A |
|
|
|
|
Name : |
Mr. Claude D Gama Rose |
|
Designation : |
Manager |
|
Address : |
Flat No. 111, The Embassy No.15, |
|
Date of Birth/Age : |
29.10.1956 |
|
Date of Appointment : |
15.07.2011 |
|
Pan No.: |
ABFPD2556C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
No. of Shares |
|
Continental |
1 |
|
Continental Reifen Deutschland |
1 |
|
Continental Caoutchouc –Export GmbH, Germany |
1 |
|
Cas –One Holdinggehsellchaft mbH, |
1 |
|
Conti Tech Universe Verwaltungs – |
1 |
|
CGH Holdings B.V , |
1 |
|
Continental Global Holdings |
181994155 |
|
TOTAL
|
181994161 |
AS ON 25.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
in the business of manufacturing tyres and related components for heavy
vehicles |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie
Beasnt Road, Worli, Mumbai – 400018, |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Building No. 10, 8th
Floor, Tower – B, DLF Cyber City, Phase – IInd, Gurgaon, Haryana – 122 002,
India |
|
PAN No.: |
AAIFB0630K |
|
|
|
|
Ultimate Holding Company : |
Continental Aktiengesellschaft, Netherlands |
|
|
|
|
Holding Company : |
Modi Rubber Limited CIN No.:- L25199UP1971PLC003392 |
|
|
|
|
Fellow Subsidiaries : |
Spin Investment India Limited CIN No.:- U74899DL1982PLC013733
|
CAPITAL STRUCTURE
AS ON 25.09.2012
Authorised Capital : Rs.5500.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.3469.942 Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs. 2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
181994161 |
Equity Shares |
Rs.10/- each |
Rs. 1819.942
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1819.942 |
560.466 |
560.466 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(1648.242) |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(1830.617) |
(362.481) |
|
|
NETWORTH |
171.700 |
(1270.151) |
197.985 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
847.144 |
1482.952 |
1000.866 |
|
|
2] Unsecured Loans |
0.000 |
180.520 |
0.000 |
|
|
TOTAL BORROWING |
847.144 |
1663.472 |
1000.866 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1018.844 |
393.321 |
1198.851 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
466.588 |
536.519 |
587.695 |
|
|
Capital work-in-progress |
5.412 |
0.287 |
71.259 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1310.142
|
621.888
|
913.712 |
|
|
Sundry Debtors |
721.097
|
499.120
|
592.695 |
|
|
Cash & Bank Balances |
29.912
|
15.776
|
45.134 |
|
|
Other Current Assets |
21.172
|
68.371
|
65.454 |
|
|
Loans & Advances |
486.354
|
133.204
|
198.209 |
|
Total
Current Assets |
2568.677
|
1338.359 |
1815.204 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
579.313
|
390.369
|
374.606 |
|
|
Other Current Liabilities |
1212.275
|
935.817
|
801.914 |
|
|
Provisions |
230.245
|
155.658
|
98.789 |
|
Total
Current Liabilities |
2021.833
|
1481.844 |
1275.309 |
|
|
Net Current Assets |
546.844
|
(143.485)
|
539.897 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1018.844 |
393.321 |
1198.851 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4782.912 |
6149.683 |
3579.493 |
|
|
|
Other Income |
2.568 |
32.003 |
96.846 |
|
|
|
TOTAL (A) |
4785.480 |
6181.686 |
3676.339 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
4080.525 |
5442.550 |
2563.910 |
|
|
|
Purchases of Stock in Trade |
122.375 |
647.116 |
465.282 |
|
|
|
Employee related expenses |
498.363 |
443.348 |
329.570 |
|
|
|
Other Expenses |
1395.167 |
659.853 |
338.134 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(449.699) |
0.000 |
0.000 |
|
|
|
Exceptional
Items |
(26.070) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
5620.661 |
7192.867 |
3696.896 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(835.181) |
(1011.181) |
(20.557) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
290.920 |
383.401 |
164.245 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1126.101) |
(1394.582) |
(184.802) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
75.874 |
73.554 |
61.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1201.975) |
(1468.136) |
(246.016) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(1201.975) |
(1468.136) |
(246.016) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(362.482) |
(116.466) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(1830.618) |
(362.482) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(10.07) |
(26.19) |
(4.39) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(25.12)
|
(23.75) |
(6.70) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(25.13)
|
(23.87) |
(6.87) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(39.60)
|
78.31 |
(10.24) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(7.00)
|
(2.62) |
(1.24) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.93
|
(1.31) |
5.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
0.90 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
UNSECURED LOAN |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Rupee term loans others unsecured |
0.000 |
80.000 |
|
Other debt unsecured |
0.000 |
100.000 |
|
Interest accrued due other debt unsecured |
0.000 |
0.520 |
|
|
|
|
|
TOTAL |
0.000 |
180.520 |
NOTE
Registered office has been shifted from 4/7 C, DDA Shopping Centre, New
Friends Colony, New Delhi-110025, India to the present address w.e.f.
15.07.2011.
INDIAN ECONOMY AND
FUTURE OUTLOOK
As reported in
Economic Survey of 2011-12, GDP grew by 6.9% in 2011-12 as compare to the
growth of 8.4% in 2010-11. The inflation (WPI) at 9.1% in Financial Year
2011-12 led to consistent interest rate hikes, affecting demand adversely. The
manufacturing sector grew by 3.9% during the year as compare to 7.6% during 2010-11.
The fragile economic recovery in the US and Europe and moderately subdued
expectation at home affected the growth of the industrial sector in the current
year. The agricultural output is expected to grow by 2.5%, lower than expected
as compared to a high growth of 7% in 2010-11. Export and import grew
positively by 23.5% and 29.4% compared to 2010-11 despite difficult conditions
in the global economy.
This slowdown in the economic activity had a direct impact on the
automotive sector.
Depreciation of
rupee in the second half of year 2011-12 led to costlier imports and higher
domestic input cost. As a result, profitability has been severely affected
The Automotive
sector is also affected by the slowdown of economic activity. However the
Indian Tyre industry grew by 5.3% in terms of volume despites of economic
slowdown and high inputs costs in the year 2011-12. The year reported bit
decline in the demand in replacement market subdued OEM demand growth and
healthy export growth.
The future outlook
for Tyre Industry in India is in rising trend in line with the tremendous
growth in the automotive sector. The Company is putting its efforts in ramping
up its operations in the replacement market and OEM category. The Company
believes that radialisation will be the driving force in the Indian truck tyre
market and hence initiated its steps towards set up of radial expansion plant
in order to have wider penetration in the radial tyres category in the coming
years.
FIXED ASSETS
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. 61.41 |
|
|
1 |
Rs. 98.29 |
|
Euro |
1 |
Rs. 84.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.