MIRA INFORM REPORT
|
Report Date : |
21.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
DECCAN PUMPS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.43, E3-E-6, Bharathi Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.07.1995 |
|
|
|
|
Com. Reg. No.: |
18-006378 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29194TZ1995PTC006378 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Submersible Pumps, Jet Pumps, Mono Bloc etc |
|
|
|
|
No. of Employees
: |
Not available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is one among the largest producer of pumps in The company has shown a dip in its sales turnover as well as net
profitability during 2012. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of experienced promoters and long standing experience in
industry, the company can be considered for business dealings 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 : |
No.43, E3-E-6, Bharathi Nagar, Sathy Road, Ganapathy,
Coimbatore-641006, Tamilnadu, India |
|
Tel. No.: |
91-422-2531141 / 2533534 / 2532930 / 2533696 / 2531242 |
|
Fax No.: |
91-422-2530152 / 53 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office : |
106-B, Angappa Street, Chennai-600001, Tamilnadu, India |
|
Tel. No.: |
91-44-25266759 / 42163759 |
|
Fax No.: |
91-44-25266760 |
DIRECTORS
AS ON 30.08.2012
|
Name : |
Mr. Periaswamy Arumugam |
|
Designation : |
Director |
|
Address : |
No.43-G, Bharathi Nagar, Sathy Road, Ganapathy, Coimbatore-641006, Tamilnadu,
India |
|
Date of Birth/Age : |
04.05.1961 |
|
Date of Appointment : |
27.07.1995 |
|
DIN No.: |
00183319 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29194TZ1995PTC006378
|
DECCAN PUMPS
PRIVATE LIMITED |
Managing
director |
30/03/2013 |
27/07/1995 |
- |
Active |
NO |
|
2 |
U65921TZ1994PLC005116
|
UDHAYALAKSHMI
PROPERTIES LIMITED |
Director |
30/08/2006 |
30/08/2006 |
27/03/2013 |
Active |
NO |
|
Name : |
Mr. Kottur Veluchamy Karthik |
|
Designation : |
Director |
|
Address : |
No.780. V K K Menon Road, New Sidhapudur, Coimbatore-641044,
Tamilnadu, India |
|
Date of Birth/Age : |
11.11.1977 |
|
Date of Appointment : |
06.12.2007 |
|
Date of Cessation : |
27.03.2013 |
|
DIN No.: |
01973367 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2012
|
Names of Shareholders |
No. of Shares |
|
Periaswamy Arumugam |
14000 |
|
P Arumugam |
14500 |
|
V Rathnam |
1000 |
|
A Sarawathi |
100 |
|
K Ramasamy |
100 |
|
R Periathai |
100 |
|
M K Nararajan |
200 |
|
K V Karthik |
14000 |
|
K V Karthik |
140000 |
AS ON 30.08.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
99.00 |
|
Other top fifty shareholders |
1.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Submersible Pumps, Jet Pumps, Mono Bloc etc |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M Alagiriswamy and Company Chartered Accountant |
|
Address : |
No.16, 6th Street, Tatabad, Coimbatore-641012, Tamilnadu,
India |
|
PAN No.: |
ABYPA7181K |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000 |
Equity Shares |
Rs.100/- each |
Rs. 6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58000 |
Equity Shares |
Rs.100/-
each |
Rs. 5.800
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5.800 |
5.800 |
|
(b) Reserves & Surplus |
|
5.741 |
5.279 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
1.000 |
1.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
12.541 |
12.079 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
7.334 |
7.349 |
|
(b) Deferred tax liabilities (Net) |
|
0.479 |
0.539 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
7.813 |
7.888 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
4.291 |
2.903 |
|
(c) Other
current liabilities |
|
0.534 |
0.824 |
|
(d) Short-term
provisions |
|
0.909 |
0.968 |
|
Total Current
Liabilities (4) |
|
5.734 |
4.695 |
|
|
|
|
|
|
TOTAL |
|
26.088 |
24.662 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
11.877 |
12.655 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
11.877 |
12.655 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
5.961 |
5.532 |
|
(c) Trade
receivables |
|
1.439 |
2.177 |
|
(d) Cash
and cash equivalents |
|
0.767 |
1.520 |
|
(e)
Short-term loans and advances |
|
0.800 |
0.800 |
|
(f) Other
current assets |
|
5.244 |
1.978 |
|
Total
Current Assets |
|
14.211 |
12.007 |
|
|
|
|
|
|
TOTAL |
|
26.088 |
24.662 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.800 |
|
|
2] Share Capital Advance |
|
|
2.000 |
|
|
3] Reserves & Surplus |
|
|
4.762 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
12.562 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
(0.080) |
|
|
2] Unsecured Loans |
|
|
5.850 |
|
|
TOTAL BORROWING |
|
|
5.770 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.622 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18.954 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
13.784 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
4.575 |
|
|
Sundry Debtors |
|
|
1.226 |
|
|
Cash & Bank Balances |
|
|
0.569 |
|
|
Other Current Assets |
|
|
1.836 |
|
|
Loans & Advances |
|
|
1.714 |
|
Total
Current Assets |
|
|
9.920 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3.529 |
|
|
Other Current Liabilities |
|
|
0.484 |
|
|
Provisions |
|
|
0.737 |
|
Total
Current Liabilities |
|
|
4.750 |
|
|
Net Current Assets |
|
|
5.170 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
18.954 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
27.612 |
39.927 |
40.941 |
|
|
|
Other Income |
0.438 |
0.278 |
4.847 |
|
|
|
TOTAL (A) |
28.050 |
40.205 |
45.788 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
17.521 |
|
43.863 |
|
|
|
Employee benefits expenses |
2.818 |
3.464 |
|
|
|
|
Other Expenses |
5.963 |
7.749 |
|
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
(0.429) |
(0.957) |
|
|
|
|
TOTAL (B) |
25.873 |
37.701 |
43.863 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.177 |
2.504 |
(Including Financial |
|
|
|
|
|
|
Expenses ) |
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.729 |
0.742 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.448 |
1.762 |
1.925 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.867 |
0.982 |
1.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.581 |
0.780 |
0.852 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.119 |
0.263 |
0.262 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.462 |
0.517 |
0.590 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.279 |
4.762 |
4.186 |
|
|
|
|
|
|
|
|
|
Less |
TDS Written off |
0.000 |
0.000 |
0.014 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.741 |
5.279 |
4.762 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
3.836 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.08 |
0.09 |
0.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.65
|
1.29 |
1.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.10
|
1.95 |
2.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.23
|
3.16 |
3.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.06 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.58
|
0.61 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.48
|
2.56 |
2.09 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
|
Long Term
Borrowings – Others |
|
|
|
Loans and Advances from Related Parties |
4.650 |
4.650 |
|
Loans and
Advances from Others |
|
|
|
Mr. Arumugham HUF |
0.600 |
0.600 |
|
Mr. K V Karthik HUF |
0.600 |
0.600 |
|
|
|
|
|
TOTAL |
5.850 |
5.850 |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10437475 |
27/05/2013 |
9,000,000.00 |
CENTRAL BANK OF INDIA |
CROSS ROAD BRANCH, COIMBATORE, TAMILNADU -
641012, INDIA |
B79885141 |
|
2 |
90003108 |
16/05/1997 |
1,500,000.00 |
CENTRAL BANK OF INDIA |
CROSS CUT ROAD BRANCH, COIMBATORE,
TAMILNADU - 641012, INDIA |
- |
|
* Date of charge modification |
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NOTE
Registered office has been shifted from SS No.111/1, C2, FCI Road, Ganapathy,
Coimbatore-641006, Tamilnadu, India to the present address w.e.f. 24.05.2013
WORKING RESULTS
During the year, the company has made a
Turnover of Rs. 27.612 Millions and earned cash profit of Rs. 1.448 Millions
FIXED ASSETS
- Plant and
Machinery
- UPS
- Honda City
- Furniture
- Computer
- Phone
- Building
- Generator
WEBSITE DETAILS
NEWS
DECCAN
PUMPS LOOKS TO PARTNER EUROPEAN PUMP MAKERS
Deccan
Pumps Private Limited, a pump manufacturing company based in Coimbatore is in talks
with family-driven European companies for a tie up to expand its industrial
pumps range. The company is also setting up a greenfield facility with an
expected investment of around Rs 1000.000 Millions.
The
company has recently launched its strategic business initiative Ekki, with focus on
superior performance products. The tie up the company is looking at is through Ekki,
and it is looking for technology from the potential European partner, said
Kanishka Arumugam, product manager of Ekki. The Ekki division also has high
performance borehole submersibles Ekki+.
"We are in talks with various European companies and we are especially
interested to tie up with some family-run firm there. The synergy would be that
we could get the latest technology in the sector while the European part-ner
could use our Indian base for manufacturing products," he added. The
company is expecting the tie up to be finalised within December, this year.
Countries
like Italy, Sweden, Denmark and Germany, have a strong presence from the
industrial pump manufacturers with most modern technology, he said.
While
the company would look at an equity partnership in long term, the initial tie
up could just be a technology partnership where the partner could also explore
manufacturing options in India. The company would also set up a manufacturing
facility for industrial pumps manufacturing if the partnership requires so, he
added.
In
order to make the management of the company easier, Deccan Pumps Limited was
hived off from Deccan Industries, the parent, which has other businesses too.
Plans
are also afoot to expand its capacity with a greenfield facility in Coimbatore
to manufacture the Ekki range of products. The Phase I of the project is
complete and it is expected to have a total capacity of 6,000-7,000 units per
month with completion of Phase II, in near future. The company is expected to
invest around Rs 1000.000 Millions into the expansion project.
Deccan
Pumps has been in the pump manufacturing industry form more than 32 years and
offers submersible pumps from its facilities in Coimbatore.
DECCAN PUMPS EYES JOINT VENTURE WITH EUROPEAN COS
COIMBATORE, APRIL 1:
As the Indian pump
industry pins its hopes on the revival of industrial demand and breakout of the
south-west monsoon in time in June to perk up the demand from the farm sector,
Coimbatore-based Deccan Pumps Private Ltd is readying to unleash into the
market a new brand of pumps ‘EKKI' (which in Tamil means ‘to ascend') that aim
both at the agricultural and urban markets.
The company, which is
among the top pump manufacturers in Coimbatore which accounts for a near 40 per
cent market share of the organised pump market in the country, is also looking
at opportunities to partner with European pump manufacturers for joint ventures
to serve markets both in India and abroad.
In an interaction with Business Line, P. Arumugam, Chairman,
DPPL, and Kanishka Arumugam, Product Manager, EKKI, which is a new division of
DPPL, said a high performance borehole submersible ‘EKKI+' has been launched.
This would be a niche product whose development was driven by demand for energy
efficient high-performance pumps that also come with lower lifecycle costs.
The new range of
products would be produced at a greenfield facility that has been established
with a capacity to manufacture 6,000-7,000 units a month. While the first phase
of the plant was ready, the second phase would be completed in two months.
Niche technologies
He said a few European
companies which want to enter the Indian market have evinced interest to forge
joint ventures with Deccan.
The advantage of this
was that these companies had niche technologies whereas Deccan has
manufacturing strength. Combining both would enable not only tapping the export
markets but serving the domestic market as well.
His visits to European
plants showed that much of their production was automated, their emphasis was
on R and D and they provided solutions, not just pumps, he said.
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. 61.27 |
|
UK Pound |
1 |
Rs. 99.02 |
|
Euro |
1 |
Rs. 83.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.