MIRA INFORM REPORT
|
Report Date : |
21.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
TECNO DOORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. L-1, Sipcot Industrial Estate, Sriperumbudur Taluk,
Kancheepuram – 602105, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.07.2006 |
|
|
|
|
Com. Reg. No.: |
18-089185 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.274.417 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28111TN2006PTC089185 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHET13477C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT4786F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automatic Doors and Spare part, Accessories used in
Automatic Doors and Manual Doors. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “TECNOLAMA It is an established company having satisfactory track record. Overall financials of the company appears to be decent. Performance of
the company is improving. Company is operating on its owned funds. Trade relation reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like
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.
INFORMATION DECLINED
MANAGEMENT NON-COOPRATIVE (Tel. No.: 91-44-27168013)
LOCATIONS
|
Registered Office/ Factory : |
Plot No. L – 1, Sipcot Industrial Estate, Sriperumbudur Taluk,
Kancheepuram District – 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-27168012 / 27168013 / 67139541 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 15.09.2012
|
Name : |
Mr. Eduard Amigo Correig |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
C / Duesaigues I, Reus, 043201, Spain |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1972 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.12.2007 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00091200 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Eduard Gomis Egea |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Tarragona, Reus, 043201, Spain |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.05.1977 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.12.2007 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00091391 |
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|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Juan Ramon Gomis Rabassa |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Federic Solar 78, Tarragona, Reus, 043201, Spain |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.04.1953 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.12.2007 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00091451 |
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|
Other Directorship :
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Francisco Javier Lozano LLima |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
C/Josep, M Benaiges, I Pujol 13, Rues, 043206, Spain |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.08.1974 |
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|
Date of Appointment : |
31.12.2007 |
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|
DIN No.: |
00139857 |
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|
Other Directorship :
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Parunkammoottil Abey George |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
T-1, Golden Enclave, No.7/8, SSR Pankajam Salai, Saligramam, Chennai-
600093, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.09.1968 |
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|
Date of Appointment : |
29.09.2010 |
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|
PAN No.: |
ADOPA5229L |
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|
DIN No.: |
03285570 |
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|
Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Tecnolama S.A., Spain |
|
27441721 |
|
Technical Minds Investments S.L., Spain |
|
1 |
|
Total |
|
27441722 |
As on 15.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automatic Doors and Spare part, Accessories used in
Automatic Doors and Manual Doors. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Lift Doors |
Nos |
48000 |
22257 |
Note:
Licensed capacity is not applicable in view of the companies having been de-licensed as per the licensing policy of Government of India. Installed capacity is as certified by the Management and accepted by the Auditors being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· The Hong Kong and Shanghai Banking Corporation Limited ·
State Bank of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
E.Radhakrishnan and Company Chartered Accountants |
|
Address : |
Flat 2, Radha Terrace, No.20, East Road, West C.I.T.Nagar, Chennai – 600035, Tamilnadu, India |
|
Tel. No. : |
91-44-24328838 / 24328848 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFE0253H |
|
|
|
|
Holding Company : |
Tecnolama S.A., Spain |
|
|
|
|
Others Related
party: |
Door Movements Technology SL |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27441722 |
Equity Shares |
Rs. 10/-
each |
Rs.274.417
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 |
|
274.417 |
274.417 |
|
(b) Reserves & Surplus |
|
205.899 |
72.671 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
480.316 |
347.088 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
6.836 |
6.735 |
|
(c) Other long term
liabilities |
|
11.684 |
11.684 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
18.520 |
18.419 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
119.599 |
98.148 |
|
(c) Other
current liabilities |
|
5.888 |
2.201 |
|
(d) Short-term
provisions |
|
4.390 |
34.633 |
|
Total Current
Liabilities (4) |
|
129.877 |
134.982 |
|
|
|
|
|
|
TOTAL |
|
628.713 |
500.489 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
236.418 |
249.262 |
|
(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 |
|
4.048 |
3.648 |
|
(e) Other
Non-current assets |
|
0.000 |
0.032 |
|
Total Non-Current
Assets |
|
240.466 |
252.942 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
136.707 |
102.174 |
|
(c) Trade
receivables |
|
173.684 |
83.991 |
|
(d) Cash
and cash equivalents |
|
62.606 |
36.429 |
|
(e)
Short-term loans and advances |
|
9.128 |
18.013 |
|
(f) Other
current assets |
|
6.122 |
6.940 |
|
Total
Current Assets |
|
388.247 |
247.547 |
|
|
|
|
|
|
TOTAL |
|
628.713 |
500.489 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
274.417 |
|
|
2] Share Application Money |
|
|
0.001 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(14.932) |
|
|
NETWORTH |
|
|
259.486 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
8.177 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
267.663 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
279.311 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREDTAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
76.243
|
|
|
Sundry Debtors |
|
|
55.189
|
|
|
Cash & Bank Balances |
|
|
26.229
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
25.423
|
|
Total
Current Assets |
|
|
183.084
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
170.204
|
|
|
Other Current Liabilities |
|
|
22.564
|
|
|
Provisions |
|
|
2.028
|
|
Total
Current Liabilities |
|
|
194.796
|
|
|
Net Current Assets |
|
|
(11.712)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.064 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
267.663 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
638.381 |
379.636 |
270.420 |
|
|
|
Other Income |
NA |
NA |
17.062 |
|
|
|
TOTAL |
NA |
NA |
287.482 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
|
238.472 |
|
|
|
Administration Expenses |
|
|
9.948 |
|
|
|
Preliminary Expenses |
|
|
0.130 |
|
|
|
Employee Cost |
|
|
10.267 |
|
|
|
Repairs & Maintenance |
|
|
7.693 |
|
|
|
TOTAL |
NA |
NA |
266.510 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
228.486 |
150.528 |
20.972 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
28.562 |
30.686 |
25.316 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
199.924 |
119.842 |
(4.344) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
66.696 |
33.054 |
8.177 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
133.228 |
86.788 |
(12.521) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
71.856 |
(14.932) |
(2.411) |
|
|
|
|
|
|
|
|
|
|
BALANCE / (LOSS)
CARRIED TO THE B/S |
205.084 |
71.856 |
(14.932) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.414 |
3.114 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.85 |
3.16 |
(0.46) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
(4.36)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
31.31
|
31.57
|
(1.61)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.80
|
31.57
|
(0.87)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.35
|
(0.02)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.99
|
1.83
|
0.94
|
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 |
No |
|
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 |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
Note: The registered office
of the company has been shifted from A-10, Green Park, New Delhi – 110016,
India to the present address w.e.f. 17.12.2012.
OPERATIONS
The factory at Sriperumbudur has been catering to the needs of the Indian market. Many new customers have been added to the portfolio. The company has picked up a prestigious order to supply all the elevator doors for the Chennai metro rail project. The company reports a robust sales growth of 68%. A new punching line has been installed to take up this additional volume. Further investment in capacity is envisaged to support the expected growth in volumes. New product lines have been added in terms of Glass doors, Car parking elevator doors
FUTURE PLANS
The company plans to put a second factory in India to cater to the western and northern markets. They are expecting a robust growth in the market.
CONTINGENT
LIABILITIES (AS ON 31.03.2012):
1. The Hong Kong and Shanghai Banking Corporation Ltd (HSBC) has given a Bank Guarantees to the Asst./ Dy Commissioner of Customs, Chennai for Rs. 5.951 Millions on behalf of the Company for the fulfillments of exports obligations against duty saved on import Rs. 5.844 Millions by the Company under EPCG Scheme and the HSBC is holding fixed deposit along with interest as at 31.03.2012 amounting to Rs.7.936 Millions as collateral security.
2. State Bank of India (SBI) has given a Bank Guarantees to the Ass./Dy Commissioner of Customs, Chennai for Rs.3,50,000/- on behalf of the company against the fulfillment of export obligation against duty saved on import Rs.2.126 Millions by the Company under EPCG Scheme and the SBI is holding a fixed depositors along with interest as at 31.03.02012 amounting to Rs. 0.397 Million as collateral security. However, the banks liability is restricted to Rs.0.350 Million only.
In the event of the company not fulfilling the export obligation the guarantees will be invoked and the company has to pay the differences amount.
3. Sundry Creditors and Debtors balances are subject to confirmations.
4. The revised Schedule VI has become from 1 April 2011 for the Preparation of Financial statement. This has significantly impacted the disclosure and presentation made in the financial statements. Previous Years figures have been regrouped/reclassified /wherever necessary to correspond with e current years classification./ disclosure.
FIXED ASSETS
v
Tangible
Assets
· Lease hold land
· Factory Building
· Plant and machinery
· Computer, Printer etc
· Furnitures and fixtures
· Motor Vehicles
v
Intangible
Assets
· Goodwill
· Brands and trade marks
· Computer software
· Mastheads and publishing titles
· Mining rights
· Copyrights, patents and other operating rights
· Other intellectual property rights
· Services and operating rights
· Recipes, formulae, models, designs and prototypes
· Licenses and franchise
· Exploration license
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.61.28 |
|
|
1 |
Rs.99.03 |
|
Euro |
1 |
Rs.83.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
45 |
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.