|
Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
DELPHI CONNECTION SYSTEMS INDIA LIMITED (w.e.f. 21.12.2012) |
|
|
|
|
Formerly Known
As : |
FCI TECHNOLOGY SERVICES LIMITED (w.e.f. 11.06.2002) FC INFORMATION AND TECHNOLOGY SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
XII/101, Thiruvaniyoor Vettickal Road Thiruvaniyoor Post Puthencruz
Via – 682308, Kerala |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
07.11.2000 |
|
|
|
|
Com. Reg. No.: |
09015286 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.51.873 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109KL2000PLC015286 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF5044Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Connectors for various markets such as Automotive,
Telecommunication Infrastructures and Consumer and Industrial
Electronics." |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of FCI International. It is an established
company having a moderate track record. The management has failed to file its financial record with government
department for the year 2012 and 13. As per previous financial of 2011, external borrowing of the company
has increased. However, trade relations are fair. Business is active. Payments are
unknown. The company can be considered for business dealings with some 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 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.
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 : |
XII/101, Thiruvaniyoor Vettickal Road Thiruvaniyoor Post Puthencruz
Via – 682308, Kerala, India |
|
Tel. No.: |
91-484-4090700 |
|
Fax No.: |
91-484-2301973 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 29.06.2012)
|
Name : |
Mr. Pulikkathara George Varghese |
|
Designation : |
Director |
|
Address : |
Flat 9-B, Amber Park, Cannon Shed Road, Boat Jetty, Cochin, Ernakulam
– 682011, Kerala, India |
|
Date of Birth/Age : |
18.04.1948 |
|
Date of Appointment : |
07.11.2000 |
|
DIN No.: |
00317319 |
|
|
|
|
Name : |
Mr. Gilles Jacques Jean Francois Ruckstuhl |
|
Designation : |
Nominee Director |
|
Address : |
9, Boulevard, De Dixmude, Paris France 75017 |
|
Date of Birth/Age : |
14.04.1955 |
|
Date of Appointment : |
12.03.2010 |
|
DIN No.: |
01778908 |
|
|
|
|
Name : |
Mr. Thierry Gilles Marie Rossigneux |
|
Designation : |
Director |
|
Address : |
65, Rue De Be3zons Carrieres Sur Seine France 78420 |
|
Date of Birth/Age : |
25.04.1958 |
|
Date of Appointment : |
23.11.2010 |
|
DIN No.: |
03314784 |
|
|
|
|
Name : |
Mr. Gopalakrishnan Rajamani |
|
Designation : |
Director |
|
Address : |
XXI/506A, Gokulam, Near Bhakthivilasam Palace, Tripunithura Ernakulam |
|
Date of Birth/Age : |
28.04.1966 |
|
Date of Appointment : |
28.10.2011 |
|
DIN No.: |
00877184 |
|
|
|
|
Name : |
Mr. Lothar Hans Robert Reger |
|
Designation : |
Director |
|
Address : |
Lauf AD Pegnitz, Heuchling Roggenstr Germany 91207 |
|
Date of Birth/Age : |
02.04.1952 |
|
Date of Appointment : |
18.11.2011 |
|
DIN No.: |
05147057 |
|
|
|
|
Name : |
Mr. Har Nishith Sahai |
|
Designation : |
Director |
|
Address : |
P-902, First Floor, Sector -14, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
08.11.1972 |
|
Date of Appointment : |
12.12.2012 |
|
DIN No.: |
06411873 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Rajiv Navaloor |
|
Designation : |
Director |
|
Address : |
8/529-4B, Noel Signature Apartments, Edachira Road, Kusumagiri P.O.,
Kakkanad Ernakulam – 682030, Kerala, India
|
|
Date of Birth/Age : |
21.05.1974 |
|
Date of Appointment : |
12.12.2012 |
|
DIN No.: |
06395054 |
|
Email : |
|
|
|
|
|
Name : |
Simon Yang Xiaoming |
|
Designation : |
Director |
|
Address : |
204 Paulo Dr Ne, Warren Ohio, 44483 |
|
Date of Birth/Age : |
19.10.1963 |
|
Date of Appointment : |
12.12.2012 |
|
DIN No.: |
06405039 |
|
Email : |
KEY EXECUTIVES
|
Name : |
Mr. Rajamani Gopalakrishnan |
|
Designation : |
Manager |
|
Address : |
XXI/506A, Gokulam, Near Bhakthivilasam Palace, Tripunithura Ernakulam |
|
Date of Birth/Age : |
28.04.1966 |
|
Date of Appointment : |
03.09.2011 |
|
PAN No.: |
ACPPR3274C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.06.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Pulikkathara George Varghese |
|
52 |
|
Biju K. Elias |
|
10 |
|
Deepak Kuriyan |
|
10 |
|
G Rajamani |
|
10 |
|
C R Varughese |
|
10 |
|
P T George |
|
10 |
|
FCI Automotive Holding, Guyancourt France |
|
5187156 |
|
|
|
|
|
Total |
|
5187258 |
(AS ON 30.06.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
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 : |
Manufacturer of Connectors for various markets such as Automotive,
Telecommunication Infrastructures and Consumer and Industrial
Electronics." |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013,
Maharashtra, India · Federal Bank Limited Ernakulam North Branch, Ernakulam – 682018, Kerala, India · Centurion Bank of Punjab Limited Choice Tower, Manorama Junction, Cochin – 682016, Kerala, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
32, Khader Nawaz Khan Road, Nugambakkam, Chennai – 600006, Tamilnadu,
India |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Holding Company : |
· FCI Asia Pte Limited, Singapore |
|
|
|
|
Holding Company of FCI Asia Pte Limited: |
· FCI SA |
|
|
|
|
Ultimate Holding Company |
· FCI International |
|
|
|
|
Fellow Subsidiaries : |
· FCI Electronics Hungary KFT* · FCI Deutschland GmBH* · FCI Tresorerie SA · FCI S?Hentogekbosch BV · FCI Treasury International BV · FCI Connectors Sweden AB · FCI Connectors Italia SRL* · FCI Interconnect Iberica · FCI Tunisia SARL · FCI Connectors UK Limited · Berg UK Limited · FCI France SA · FCI OEN Connectors Limited * · FCI Connectors Hongkong Limited · FCI PRC Limited · FCI Connectors Malaysia SDN BHD · FCI Connectors Dongguan Limited · FCI Connectors Singapore Pte Limited · FCI Japan KK* · FCI Taiwan Limited · FCI Connectors Korea Limited · FCI GBS India Private Limited · Anytek Technology Corp Limited · FCI USA LLC* · FCI Americas Technology LLC · FCI Connectors Canada Inc · FCI USA Treasury LLC · FCI Automotive Holding SAS · FCI Automotive Japan KK* · FCI Automotive Hong Kong Limited · FCI Korea Limited * · FCI Automotive France SA · FCI Automotive UK Limited · FCI Belgium NV · FCI Nangtong Limited* · FCI Automotive North America* ·
· *Represents related parties with whom the Company had transactions during the year |
CAPITAL STRUCTURE
(AS ON 29.06.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.10/- each |
Rs.225.000 Millions |
|
17500000 |
Preference Shares |
Rs.10/- each |
Rs.175.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5187258 |
Equity Shares |
Rs.10/- each |
Rs.51.873
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
51.873 |
51.873 |
325.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
48.406 |
41.962 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(232.431) |
|
|
NETWORTH |
100.279 |
93.835 |
92.569 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
32.856 |
0.000 |
68.502 |
|
|
2] Unsecured Loans |
185.869 |
0.000 |
696.498 |
|
|
TOTAL BORROWING |
218.725 |
0.000 |
765.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
319.004 |
93.835 |
857.569 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
594.086 |
9.629 |
596.983 |
|
|
Capital work-in-progress |
9.693 |
0.000 |
42.975 |
|
|
|
|
|
|
|
|
INVESTMENT |
46.653 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
2.162 |
0.665 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
135.713
|
0.000 |
86.010 |
|
|
Sundry Debtors |
368.818
|
89.038 |
216.906 |
|
|
Cash & Bank Balances |
43.338
|
8.650 |
68.305 |
|
|
Other Current Assets |
36.992
|
31.951 |
40.443 |
|
|
Loans & Advances |
267.261
|
7.763 |
92.833 |
|
Total
Current Assets |
852.122
|
137.402 |
504.497 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
307.582
|
46.887 |
264.595 |
|
|
Other Current Liabilities |
857.401
|
2.183 |
22.291 |
|
|
Provisions |
20.729
|
4.791 |
0.000 |
|
Total
Current Liabilities |
1185.712
|
53.861 |
286.886 |
|
|
Net Current Assets |
(333.590)
|
83.541 |
217.611 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
319.004 |
93.835 |
857.569 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
452.239 |
181.372 |
929.667 |
|
|
|
Other Income |
39.386 |
0.048 |
38.813 |
|
|
|
TOTAL (A) |
491.625 |
181.420 |
968.480 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
163.126 |
0.000 |
418.825 |
|
|
|
Manufacturing service costs |
21.097 |
5.508 |
63.022 |
|
|
|
Employee related expenses |
143.922 |
94.971 |
185.096 |
|
|
|
Administrative selling other expenses |
109.093 |
63.273 |
106.041 |
|
|
|
Exceptional Items |
(4.694) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
432.544 |
163.752 |
772.984 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
59.081 |
17.668 |
195.496 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.635 |
0.790 |
46.912 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.446 |
16.878 |
148.584 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
26.365 |
4.732 |
110.589 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.081 |
12.146 |
37.995 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.637 |
3.546 |
0.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.444 |
8.600 |
37.545 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
273.011 |
-- |
636.060 |
|
|
TOTAL EARNINGS |
273.011 |
-- |
636.060 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
11.765 |
-- |
40.823 |
|
|
|
Components |
102.509 |
-- |
240.838 |
|
|
|
Capital Goods |
8.708 |
-- |
65.004 |
|
|
|
Machinery Spares, Tools, Consumables |
5.824 |
-- |
105.375 |
|
|
|
Traded Goods |
19.651 |
-- |
26.259 |
|
|
TOTAL IMPORTS |
148.457 |
-- |
478.299 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.34 |
1.66 |
3.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
1.31
|
6.69 |
3.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.22
|
6.70 |
4.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.32
|
0.08 |
3.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.13 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.18
|
0.00 |
8.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.72
|
2.55 |
1.76 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
Particulars |
31.12.2011 |
31.12.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Foreign currency loans others (A) Foreign Currency term loans from holding Company |
185.869 |
0.000 |
|
|
|
|
|
Total |
185.869 |
0.000 |
NOTE:
The Registered office of the company has been
shifted from XXIX/2089Tripunithura Road, Thykoodam, Ernakulam – 682019, Kerala,
India to the present address w.e.f. 12.12.2012.
REVIEW OF
PERFORMANCE
During the year the
Company shows a revenue of Rs.491.620 millions against Rs.181.420 millions in
the previous year. Other income was higher during the year because of claim
receivables from customers and higher export entitlements from Government.
After charging manufacturing and other expenses, profit before interest, tax
and depreciation was at Rs.54.000 millions against Rs.17.000 millions in the
previous year. Depreciation and interest charges were increased by 457% and
1626% respectively during the year. Profit after tax was down to Rs.6.400
millions against Rs.8.500 millions in the previous year, because of higher tax
provision.
Effective from 1st
November 2011, Automotive business and the Tooling business have been acquired
by the Company and hence the income for the year 2011 includes the sales
turnover from the above 2 business divisions in November and December 2011.
Global Business
Support activity were sold to FCI GBS India Pvt. Ltd effective from 1st
November 2011 and hence the income from GBS was only upto 31st
October 2011. Because of the above corporate restructuring, the financial
results for the above 2 period are not comparable.
FIXED ASSETS:
· Goodwill
· Leasehold Improvement
· Building
· Plant, Machinery and Equipment – Owned
· Plant, Machinery and Equipment – Leased
· Office Equipment
· Data processing Equipment
· Furniture and Fixtures
· 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 records 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.62.45 |
|
|
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
|
28 |
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.