MIRA INFORM REPORT
|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PUTZMEISTER CONCRETE MACHINES PRIVATE LIMITED (w.e.f. 28.01.2008) |
|
|
|
|
Formerly Known
As : |
DYNAJET MACHINERY INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.4, Phase IV, Verna Industrial Esatr, Verna, Salcete – 403722,
Goa |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.06.2005 |
|
|
|
|
Com. Reg. No.: |
24-004057 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.325.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120GA2005PTC004057 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD2090G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Concrete Pumps. |
|
|
|
|
No. of Employees
: |
Information declined by management |
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 : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Putzmeister Concrete Pumps Gmbh, Germany”.
It is an established company having satisfactory track record. There appear some accumulated losses recorded by the company during
2012. The profitability is under pressure. However, the ratings also take into consideration. The improving
market position of the subject in the high pressure concrete pump segment,
strong brand name and comfortable financial risk profile. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered normal 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
12.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : “A3+” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
12.09.2012 |
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 (PARTIAL DETAILS)
|
Name : |
Mr. Gauder |
|
Designation : |
Finance Department |
|
Contact No.: |
91-832-6696000 |
|
Date : |
30.08.2013 |
LOCATIONS
|
Registered Office / Factory : |
Plot No.4, Phase IV, Verna Industrial Esatr, Verna, Salcete – 403722,
Goa, India |
|
Tel. No.: |
91-832-6696000 |
|
Fax No.: |
91-832-6696300 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Service Locations : |
· Bangalore · Delhi · Jamnagar · Hyderabad · Mumbai |
DIRECTORS
As on 27.09.2012
|
Name : |
Wilrfried Andre Theissen |
|
Designation : |
Managing director |
|
Address : |
House No. ADG/31-21, Aldeida De Goa, Near ETDC, PO Goa University,
Nauxim, Bambolim, Tiswadi – 403206, Goa, India |
|
Date of Birth/Age : |
20.12.1959 |
|
Date of Appointment : |
26.03.2012 |
|
DIN No. : |
05310584 |
|
|
|
|
Name : |
Mr. Norbert Scheuch |
|
Designation : |
Director |
|
Address : |
ZUM Vossberg 1A, Kassedorf, Germany |
|
Date of Birth/Age : |
20.01.1960 |
|
Date of Appointment : |
07.09.2010 |
|
DIN No. : |
03225552 |
KEY EXECUTIVES
|
Name : |
Mr. Mahadev Ramchandra Joshi |
|
Designation : |
Secretary |
|
Address : |
B-1, Sapana Greens, Opposite A.V. Da Costa Hospital, Fatorda, Margao –
403602, Goa, India |
|
Date of Birth/Age : |
18.05.1970 |
|
Date of Appointment : |
05.07.2008 |
|
PAN No. : |
AAPPJ3833R |
|
|
|
|
Name : |
Mr. Gauder |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Putzmeister Concrete Pumps GmbH, Germany |
|
32499999 |
|
Stabau GMBH, Germany |
|
1 |
|
Total |
|
32500000 |
As on 27.09.2012
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 : |
Manufacturing and Trading of Concrete Pumps. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Deutsche Bank AG · State Bank of India · HDFC Bank |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
NOTE: SHORT TERM
BORROWINGS Cash Credit from Banks : 181 Buyer's Credit : 536 a The Cash Credit and Buyers Credit from ICICI Bank is secured by hypothecation of inventories, bills receivables, book debts and all movables assets of the Company both present and future, wherever situated not exceeding Rupee equivalent of 4 Mio Euros. b The rate of interest on Cash Credit is 12.50% computed on a monthly basis on the actual amount utilized and are repayable on demand, whereas the Buyers Credit carries an interest rate of Libor plus 35 bps over the period of the loan. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune -411001, Maharshtra, India |
|
PAN No. : |
AAKFB4397F |
|
|
|
|
Holding Company : |
Putzmeister Concrete Pumps GmbH (holds 99.99% of the equity share capital) |
|
|
|
|
Ultimate holding
company: |
Putzmeister Holding GmbH |
|
|
|
|
Fellow Subsidiary Company : |
· Putzmeister Engineering GmbH · Putzmeister France · Putzmeister South Africa (PTY) Limited · Putzmeister INC America · Putzmeister Turkey · Putzmeister Mortelmaschinen GmbH · Putzmeister Machinery (Shanghai) Company Limited · Putzmeister Korea Company Limited · Putzmeister Solid Pumps GmbH · Putzmeister South East Asia CT Pte Limited · Putzmeister AG-Bangalore · Putzmeister Japan Company Limited · Putzmeister Concrete Pumps India Private Limited · Putzmeister (Shanghai) Management Company |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65000000 |
Equity Shares |
Rs.10/- each |
Rs.650.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32500000 |
Equity Shares |
Rs.10/- each |
Rs.325.000
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 |
|
325.000 |
325.000 |
|
(b) Reserves & Surplus |
|
(78.600) |
(55.200) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
238.000 |
238.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
484.400 |
507.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
79.400 |
99.300 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
6.300 |
|
(d) long-term
provisions |
|
6.900 |
4.000 |
|
Total Non-current
Liabilities (3) |
|
86.300 |
109.600 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
179.900 |
61.500 |
|
(b) Trade
payables |
|
1181.500 |
778.700 |
|
(c) Other
current liabilities |
|
164.100 |
92.500 |
|
(d) Short-term
provisions |
|
22.100 |
19.100 |
|
Total Current
Liabilities (4) |
|
1547.600 |
951.800 |
|
|
|
|
|
|
TOTAL |
|
2118.300 |
1569.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
476.600 |
408.300 |
|
(ii)
Intangible Assets |
|
1.500 |
1.900 |
|
(iii)
Capital work-in-progress |
|
14.300 |
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 |
|
25.500 |
13.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
517.900 |
423.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1019.600 |
687.100 |
|
(c) Trade
receivables |
|
355.000 |
269.000 |
|
(d) Cash
and cash equivalents |
|
4.600 |
23.300 |
|
(e)
Short-term loans and advances |
|
221.200 |
166.600 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1600.400 |
1146.000 |
|
|
|
|
|
|
TOTAL |
|
2118.300 |
1569.200 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
325.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
238.000 |
|
|
4] (Accumulated Losses) |
|
|
(159.878) |
|
|
NETWORTH |
|
|
403.122 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.00 |
|
|
2] Unsecured Loans |
|
|
245.631 |
|
|
TOTAL BORROWING |
|
|
245.631 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
648.753 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
386.294 |
|
|
Capital work-in-progress |
|
|
44.666 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
378.790
|
|
|
Sundry Debtors |
|
|
136.907
|
|
|
Cash & Bank Balances |
|
|
54.314
|
|
|
Other Current Assets |
|
|
0.007
|
|
|
Loans & Advances |
|
|
139.982
|
|
Total
Current Assets |
|
|
710.000
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
458.571
|
|
|
Other Current Liabilities |
|
|
29.933
|
|
|
Provisions |
|
|
3.704
|
|
Total
Current Liabilities |
|
|
492.208
|
|
|
Net Current Assets |
|
|
217.793
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
648.753 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2407.800 |
1777.200 |
961.204 |
|
|
|
Other Income |
NA |
NA |
61.858 |
|
|
|
TOTAL |
NA |
NA |
1023.062 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
1023.077 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(22.800) |
124.200 |
(0.015) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.600 |
19.500 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(23.400) |
104.700 |
(0.015) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
49.522 |
|
|
|
Other Earnings |
|
|
7.595 |
|
|
TOTAL EARNINGS |
310.900 |
115.400 |
57.117 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
473.336 |
|
|
|
Purchase for Resale |
|
|
172.361 |
|
|
|
Capital Goods |
|
|
4.918 |
|
|
TOTAL IMPORTS |
NA |
NA |
650.615 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.72) |
3.22 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.95)
|
6.99 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.08)
|
7.92 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
0.24 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.54
|
0.32 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.20 |
1.44 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current maturities of long-term debt |
19.900 |
19.900 |
NA |
|
|
|
|
|
|
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 |
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10309820 |
24/08/2011 |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B22394753 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
(A) 79.400 |
(B) 99.300 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
(B) 108.200 |
(C) 61.500 |
|
Total |
187.600 |
160.800 |
NOTE:
LONG TERM
BORROWINGS
(A) Term loan has been taken from Deutsche Bank AG on 23 February, 2007 at an interest rate of 10.75% p.a. which is repayable in 16 half yearly installments of Rs.99 lacs each. A Corporate Guarantee has been given by Putzmeister Concrete Pumps Gmbh, Germany for the term loan
(B) Term loan has been taken from Deutsche Bank AG on 23 February, 2007 at an interest rate of 10.75% p.a. which is repayable in 16 half yearly installments of Rs.99 lacs each. A Corporate Guarantee has been given by Putzmeister Concrete Pumps Gmbh, Germany for the term loan.
SHORT TERM BORROWINGS
(B) Cash Credit from Banks : 766 Buyer's Credit : 316 a A Corporate Guarantee has been given by Puztmeister Concrete Pumps Gmbh, Germany for the Unsecured Short Term Borrowings from Deutsche Bank AG. The rate of interest on Cash Credit is 13.75% computed on a monthly basis on the actual amount utilized and are repayable on demand. b Short term Buyers Credit carries an interest rate ranging from Libor plus 45 bps to 150 bps over the period of the loan.
(C) Buyer's Credit : Short term Buyers Credit carries an interest rate ranging from Libor plus 45 bps to 150 bps over the period of the loan.
COMPANY
BACKGROUND
Subject was earlier known as Dynajet Machinery India Private Limited hereinafter referred to as the Company)was incorporated on 14 June 2005 by two Indian shareholders under the Indian Companies Act 1956. Putzmeister Concrete Pumps GmbH (earlier Putzmeister AG) invested in the Company in July 2005 and the Company became a subsidiary of Putzmeister Concrete Pumps GmbH with effect from 22nd July, 2005. The Company’s manufacturing facility is located at Verna Industrial Estate, Goa. The Company is in the business of manufacturing and trading of concrete pumps.
ACTIVITIES AND FINANCIAL RESULTS
The Company achieved a turnover of Rs. 2407.800 millions compared to Rs. 1777.200 millions in the previous year. However the Company suffered a loss of nearly Rs. 22.800 millions as compared to net profit before tax, last year of Rs. 124.200 millions.
Except as disclosed elsewhere in this report, there have been no material changes and commitments which can affect the financial position of the Company occurred between the end of the financial year of the Company and date of this report.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
Discounted Bills Receivable |
2.200 |
0.000 |
|
Income Tax Matters under dispute pending with authorities |
8.200 |
0.000 |
FIXED ASSETS
v
Tangible
assets
· Land
· Buildings
· Factory Building
· Plant and Equipment
· Factory Equipments
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
v
Intangible
Assets
· 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.66.57 |
|
|
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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.