|
Report Date : |
21.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEILSOFT LIMITED (w.e.f. 28.10.1999) |
|
|
|
|
Formerly Known
As : |
NEIL AUTOMATION TECHNOLOGY LIMITED (18.06.1992) NEIL AUTOMATION TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Pride Parmar Galaxy, 10/10+A, 8th Floor, Sadhu Vaswani
Chowk, Pune – 411001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.06.1991 |
|
|
|
|
Com. Reg. No.: |
11-062192 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 99.547
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200PN1991PLC062192 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEN01142B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1300P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Specialist Engineering Services and Solutions also
engaged in the business of Selling Software Products. |
|
|
|
|
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 2200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The ratings reflect the reputed and diversified client base spread
across various industries and favorable financial risk profile marked by
comfortable capital structure and profitability margins. Directors are reported to be experienced and respectable businessmen. 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 dealings of 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
August 19, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
August 19, 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ashish |
|
Designation : |
Account Department |
|
Contact No.: |
91-20-26053003 |
|
Date : |
19.11.2013 |
LOCATIONS
|
Registered Office : |
Pride Parmar Galaxy, 10/10+A, 8th Floor, Sadhu Vaswani
Chowk, Pune – 411001, Maharashtra, India |
|
Tel. No.: |
91-20-26053003 |
|
Fax No.: |
91-20-26131755 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Offices : |
Located at: · Bangalore New Delhi Chennai Mumbai Ahmedabad |
|
|
|
|
Overseas Offices : |
Located at: · Los Angeles, California Chicago, Illinois Appleton, Wisconsin UK Germany |
DIRECTORS
AS ON 31.08.2013
|
Name : |
Mr. Ketan Champaklal Bakshi |
|
Designation : |
Managing director |
|
Address : |
B-32, Abhimanshree Society, Off Pashan Road, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
14.05.1956 |
|
Qualification : |
BE Electronics, MS in Computer Science |
|
Date of Appointment : |
24.06.1991 |
|
PAN No.: |
AAHPB4240Q |
|
DIN No.: |
01997656 |
|
|
|
|
Name : |
Mrs. Rupa Harish Shah |
|
Designation : |
Director |
|
Address : |
4/11, Visava Heights, D.P. Road, Aundh, Pune – 411007, Maharashtra,
India |
|
Date of Birth/Age : |
14.11.1958 |
|
Qualification : |
CA |
|
Date of Appointment : |
24.06.1991 |
|
PAN No.: |
AAQPS0911A |
|
DIN No.: |
00546087 |
|
|
|
|
Name : |
Mr. Chirag Champaklal Bakshi |
|
Designation : |
Director |
|
Address : |
1187, |
|
Date of Birth/Age : |
29.02.1960 |
|
Qualification : |
MS in Comp Science, MS in Ele. Engg |
|
Date of Appointment : |
01.06.1999 |
|
DIN No.: |
01997707 |
|
|
|
|
Name : |
Mr. Rajan Vasant Vakil |
|
Designation : |
Director |
|
Address : |
11, Vasant Vilas, |
|
Date of Birth/Age : |
11.08.1956 |
|
Qualification : |
M.Com |
|
Date of Appointment : |
16.09.1995 |
|
DIN No.: |
02438267 |
|
|
|
|
Name : |
Mr. Samu Devarajan |
|
Designation : |
Director |
|
Address : |
Villa 185, Adarsh Palm, Meadows, Phase I, Whitefield Road, Bangalore - 560066, Karnataka, India |
|
Date of Birth/Age : |
31.10.1954 |
|
Qualification : |
BE |
|
Date of Appointment : |
25.08.2012 |
|
DIN No.: |
00878956 |
|
|
|
|
Name : |
Mr. Rajesh Sawhney |
|
Designation : |
Nominee director |
|
Address : |
A/402, The IVY Residential Complex, Sushant Lok-Phase-1, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
02.02.1966 |
|
Qualification : |
BE |
|
Date of Appointment : |
26.03.2013 |
|
DIN No.: |
01519511 |
|
|
|
|
Name : |
Mr. Satyen Patel |
|
Designation : |
Director |
|
Address : |
Lantern House, Knowle Hill, Vigirnia Water GU25 4HZ, UK |
|
Date of Birth/Age : |
20.04.1957 |
|
Qualification : |
MBA |
|
Date of Appointment : |
25.01./2011 |
|
DIN No.: |
00044021 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.08.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 31.08.2013
|
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] |
40.16 |
|
Directors
or relatives of directors |
34.84 |
|
Other
top fifty shareholders |
25.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Specialist Engineering Services and Solutions also
engaged in the business of Selling Software Products. |
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Products/ Services : |
|
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|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash and Credit |
||||||
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|
|
||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
· Export Import Bank Of India, Centre One Bulding, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan,
227,D, Nariman Point, Mumbai - 400021, Maharashtra, India |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706, 'B' Wing, 7th Floor, ICC Trade Tower,
Senapati Bapat Road, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Subsidiary Company : |
Neilsoft Inc |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,954,722 |
Equity Shares |
Rs. 10/- each |
Rs. 99.547
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
99.547 |
99.547 |
98.942 |
|
(b) Reserves & Surplus |
453.419 |
353.792 |
314.712 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
552.966 |
453.339 |
413.654 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.081 |
0.227 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
20.718 |
17.124 |
12.821 |
|
Total Non-current
Liabilities (3) |
20.799 |
17.351 |
12.821 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
32.733 |
32.906 |
57.678 |
|
(b)
Trade payables |
79.521 |
86.341 |
83.464 |
|
(c)
Other current liabilities |
21.855 |
10.441 |
28.678 |
|
(d) Short-term
provisions |
9.073 |
4.802 |
6.822 |
|
Total Current
Liabilities (4) |
143.182 |
134.490 |
176.642 |
|
|
|
|
|
|
TOTAL |
716.947 |
605.180 |
603.117 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
38.473 |
44.481 |
52.076 |
|
(ii)
Intangible Assets |
4.534 |
5.625 |
9.330 |
|
(iii)
Capital work-in-progress |
0.000 |
7.668 |
7.668 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
99.747 |
99.747 |
98.097 |
|
(c) Deferred tax assets (net) |
33.239 |
25.814 |
20.403 |
|
(d) Long-term Loan and Advances |
150.494 |
158.663 |
138.063 |
|
(e) Other
Non-current assets |
0.020 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
326.507 |
341.998 |
325.637 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.026 |
0.383 |
0.272 |
|
(c)
Trade receivables |
208.378 |
194.250 |
173.686 |
|
(d) Cash
and cash equivalents |
140.791 |
42.675 |
43.883 |
|
(e) Short-term
loans and advances |
40.140 |
24.693 |
58.766 |
|
(f)
Other current assets |
1.105 |
1.181 |
0.873 |
|
Total
Current Assets |
390.440 |
263.182 |
277.480 |
|
|
|
|
|
|
TOTAL |
716.947 |
605.180 |
603.117 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
813.840 |
777.841 |
590.455 |
|
|
|
Other Income |
18.926 |
23.439 |
9.375 |
|
|
|
TOTAL (A) |
832.766 |
801.280 |
599.830 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
134.365 |
136.782 |
107.949 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
0.357 |
(0.110) |
0.346 |
|
|
|
Employee benefit expense |
415.184 |
416.564 |
337.939 |
|
|
|
Other expenses |
176.899 |
190.238 |
139.381 |
|
|
|
TOTAL (B) |
726.805 |
743.474 |
585.615 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
105.961 |
57.806 |
14.215 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.929 |
7.965 |
8.429 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
102.032 |
49.841 |
5.786 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.166 |
16.167 |
24.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
92.866 |
33.674 |
(18.359) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(6.761) |
(5.412) |
(3.375) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
99.627 |
39.086 |
(14.984) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
188.668 |
149.582 |
164.566 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
288.295 |
188.668 |
149.582 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
10.01 |
3.93 |
(1.53) |
|
|
|
Diluted
|
9.92 |
3.90 |
(1.53) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.96
|
4.88 |
(2.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.41
|
4.33 |
(3.11) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.90
|
7.14 |
(3.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.07 |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.06
|
0.07 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73
|
1.96 |
1.57 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
0.148 |
0.132 |
3.199 |
|
|
|
|
|
|
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 |
Yes |
|
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) |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10450592 |
23/09/2013 |
20,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B85562478 |
|
2 |
10022567 |
24/06/2009 * |
119,500,000.00 |
CENTRAL BANK OF INDIA |
104/105, 1ST FLOOR, 927 F.C. ROAD, SHIVAJINAGAR, PUNE - 411004, MAHARASHTRA, INDIA |
A76416239 |
* Date of charge modification
Note:
The Registered office of the company has been
shifted from 1108, Saket Off Ganeshkhind Road, Model Colony, Pune – 411016,
Maharashtra, India to the present address
w.e.f. 12.07.2007
CORPORATE INFORMATION:
The Company, along with its subsidiaries in USA, Germany and branch located in UK provides Software engineering services to its clients. The Company provides specialist engineering services and solutions across a range of engineering segments. The Company is headquartered in Pune (India) and serves clients across USA, Europe, Middle East, Asia Pacific and India. The Company is also engaged in the business of selling software products.
REVIEW OF OPERATIONS
The financial statements have been prepared in compliance with the requirements of The Companies Act, 1956, and Generally Accepted Accounting Principles (GAAP) in India.
Their management accepts responsibility for the integrity
and objectivity of these financial statements, as well as for the various
estimates and judgments used in preparing the financial statements.
Deloitte Haskins and Sells, Chartered Accountants, the independent auditors have audited these financial statements.
During the financial year 2012-13, your company focused on consolidation, better cost controls and improving quality and business hygiene.
The result of this effort is evident in the Financial Highlight of F.Y. 2012-13. The company also continues to invest in the development of Intellectual property in the range of approx. Rs. 30.000 - 40.000 Millions per year.
The major reasons for the financial turnaround were:
1. Recovery of the Buildings segment in USA;
2. Decent growth from the Manufacturing segment clients;
3. Increasing requirements from the Chemicals & Fibers segment;
4. Rupee devaluation’s impact on the bottom line by 2%; and
5. Cost controls implemented over last 24 months.
The Operating Revenue (Consolidated) during the year was Rs.
1139.012 Millions, as against Rs. 1102.833 Millions in the previous year,
registering an overall increase of 3.3 %. The Profit after tax was Rs. 96.948
Millions, as against Rs.1.220 Millions in the previous year.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
a) Sales Tax Demand disputed in appeal |
6.929 |
3.463 |
|
b) Estimated amount of contracts remaining to be executed
on Capital Account and not provided for in the books [Net of advance paid Rs.
Nil (Previous Year Rs. Nil)] amounted to Rs. 0.886 Million (Previous year Rs.
0.143 Million). |
||
FIXED ASSETS:
· Land
Furniture
and fixtures
Vehicles
Office
equipment
Computer
equipments
Other
equipments
Computer
software
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. 62.56 |
|
|
1 |
Rs. 100.77 |
|
Euro |
1 |
Rs. 84.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--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.