MIRA
INFORM REPORT
|
Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
NETAFIM IRRIGATION INDIA PRIVATE LIMITED [w.e.f. 14.07.1998] |
|
|
|
|
Formerly Known
As : |
EXCEL DRIP AND AGRISERVICES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Plot No. 268-270, 271/B, GIDC, Manjusar, Savli, Vadodara-391775,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.09.1997 |
|
|
|
|
Com. Reg. No.: |
04-050144 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.83.098
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01100GJ1997PTC050144 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Micro Irrigation Systems. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4930000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of ‘Netafim Limited’, Israel. It is a well established and reputed company having a good track
record. There appears slight-dip in profitability during the current year. However, the financial position of the company is strong. Performance
capacity appears to be high. Liquidity position is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A – [Long Term] |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
30.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 [Short Term] |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
30.08.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
Management non co-operative. [91-2667-264601]
LOCATIONS
|
Registered Office : |
Plot No. 268-270, 271/B, GIDC, Manjusar, Savli, Vadodara-391775,
Gujarat, India |
|
Tel. No.: |
91-2667-264601 |
|
Fax No.: |
91-2667-264600 |
|
E-Mail : |
|
|
|
|
|
Head Office / Factory 1 : |
268-270, GIDC, Manjusar, Savli, District Vadodara-391775, Gujarat,
India |
|
Tel. No.: |
91-2667-264601/602 |
|
Fax No.: |
91-2667-264600 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
P 38/1, Central Avenue, Domestic Tariff Area, Mahindra World City,
Natham (Sub. P.O.) Chengalpet (T.K.), Kancheepuram (D.T.), Chennai-603002,
Tamilnadu, India |
|
Tel No.: |
91-44-27460128 |
|
Fax No.: |
91-44-27460217 |
|
|
|
|
Regional Office : |
Located At: ·
Vadodara ·
Raipur ·
Jalgaon ·
Hyderabad ·
Ahmedabad ·
New Delhi ·
Jaipur ·
Pune ·
Bangalore ·
Coimbatore ·
Anantapur ·
Indore |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Randhirsinh Abasinh Chauhan |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 12, Second Floor, Vaikunth Society Behind Reliance Petrol
Pump, Gatari Road, Vadodara-390021, Gujarat, India |
|
Date of Birth/Age : |
17.11.1970 |
|
Date of Appointment : |
30.10.2006 |
|
Din No.: |
00987092 |
|
|
|
|
Name : |
Mr. Ram Levy |
|
Designation : |
Director |
|
Address : |
Yonathan 6B, Gan Yavne, Israel, Pin Code 70800 |
|
Date of Birth/Age : |
19.12.1964 |
|
Date of Appointment : |
26.02.2006 |
|
Din No.: |
00259994 |
|
|
|
|
Name : |
Setumadhav Rangarao Potdar |
|
Designation : |
Director |
|
Address : |
Plot No. D, Flat 8, Wing D, Ram Kutir, Bangur Nagar, Near Link Road,
Goregaon (West), Mumbai-400062, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1953 |
|
Date of Appointment : |
01.03.2007 |
|
Din No.: |
00228617 |
|
|
|
|
Name : |
Alon Jacob Teichtal |
|
Designation : |
Director |
|
Address : |
Netafim Limited, Corporate Head Quarters, Derech, Hashalom 10, Tel
Aviv, Israel, Pin Code 67892 |
|
Date of Birth/Age : |
27.01.1963 |
|
Date of Appointment : |
08.03.2010 |
|
Din No.: |
02891046 |
KEY EXECUTIVES
|
Name : |
Tauseef Nuruddin Shaikh |
|
Designation : |
Secretary |
|
Address : |
3/305, Ganesh Krupa Building, A Wing, Near Canara Bank, Mumbai-400612,
Maharashtra, India |
|
Date of Birth/Age : |
21.12.1984 |
|
Date of Appointment : |
03.09.2012 |
|
Pan No.: |
BOLPS7887H |
|
|
|
|
Name : |
Mr. Bharat |
|
Designation : |
Assist Manager of Export-Import Department |
|
|
|
|
Name : |
Mr. Avinash Patel |
|
Designation : |
Head of Treasury and Fund Manger |
|
Mobile No.: |
91-9687696560 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Netafim Limited, Israel |
|
8309824 |
|
Fischer Behar Chen and Company, Israel |
|
1 |
|
|
|
|
|
TOTAL
|
|
8309825 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Micro Irrigation Systems. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Mid Corporate Group
Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara-390007,
Gujarat, India ·
State Bank of India, Commercial Branch, Justice
G.N. Vaidya Marg, Mumbai-400023, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vakil Jain and Hindocha Chartered Accountants |
|
Address : |
201, Sushil, 38, Gautam Nagar, Race Course, Baroda-390007, Gujarat,
India |
|
PAN No: |
AABFV1343E |
|
|
|
|
Holding Company : |
Netafim Limited, Israel |
|
|
|
|
Fellow Subsidiaries : |
·
Netafim (Thailand) Company Limited ·
Netafim Brazil Sist. E Equipo |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8309825 |
Equity Shares |
Rs.10/- each
|
Rs.83.098
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 |
|
83.098 |
83.098 |
|
(b) Reserves & Surplus |
|
1151.226 |
979.939 |
|
(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) |
|
1234.324 |
1063.037 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
38.116 |
15.783 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
5.231 |
3.799 |
|
(d) long-term
provisions |
|
46.323 |
55.104 |
|
Total Non-current
Liabilities (3) |
|
89.670 |
74.686 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
403.225 |
221.293 |
|
(b)
Trade payables |
|
2270.138 |
1353.279 |
|
(c) Other
current liabilities |
|
371.823 |
253.611 |
|
(d) Short-term
provisions |
|
5.970 |
6.603 |
|
Total Current
Liabilities (4) |
|
3051.156 |
1834.786 |
|
|
|
|
|
|
TOTAL |
|
4375.150 |
2972.509 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
483.160 |
467.677 |
|
(ii)
Intangible Assets |
|
5.711 |
11.009 |
|
(iii)
Capital work-in-progress |
|
242.140 |
1.409 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
19.260 |
12.664 |
|
(d) Long-term Loan and Advances |
|
149.902 |
116.013 |
|
(e) Other
Non-current assets |
|
30.706 |
26.212 |
|
Total Non-Current
Assets |
|
930.879 |
634.984 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1353.851 |
946.028 |
|
(c)
Trade receivables |
|
1705.278 |
1200.198 |
|
(d) Cash
and cash equivalents |
|
204.565 |
99.884 |
|
(e)
Short-term loans and advances |
|
180.577 |
91.415 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
3444.271 |
2337.525 |
|
|
|
|
|
|
TOTAL |
|
4375.150 |
2972.509 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
83.098 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
698.545 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
781.643 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
154.186 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
154.186 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
935.829 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
428.171 |
|
|
Capital work-in-progress |
|
|
0.205 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
10.121 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
700.607 |
|
|
Sundry Debtors |
|
|
563.167 |
|
|
Cash & Bank Balances |
|
|
455.136 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
201.577 |
|
Total
Current Assets |
|
|
1920.487 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
514.005 |
|
|
Other Current Liabilities |
|
|
865.662 |
|
|
Provisions |
|
|
43.488 |
|
Total
Current Liabilities |
|
|
1423.155 |
|
|
Net Current Assets |
|
|
497.332 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
935.829 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
5563.091 |
4117.114 |
2978.053 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
5032.461 |
3526.868 |
2414.750 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
5032.461 |
3526.868 |
2414.750 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
530.630 |
590.246 |
563.303 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
185.649 |
127.015 |
119.161 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
344.981 |
463.231 |
444.142 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
88.558 |
71.975 |
63.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
256.423 |
391.256 |
380.475 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
85.315 |
109.860 |
114.501 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
171.288 |
281.396 |
265.974 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
55.109 |
53.501 |
31.566 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Components and Spare Parts |
1632.617 |
1091.311 |
NA |
|
|
|
Capital Goods |
80.985 |
42.761 |
NA |
|
|
TOTAL |
1713.602 |
1134.072 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
20.61 |
33.86 |
32.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.07
|
6.83 |
8.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.23
|
13.22 |
16.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.37 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.35
|
0.22 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.48 |
1.35 |
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
·
The registered office of the company has been
shifted from Plot No. 268-270, GIDC, Manjusar, Savli, Vadodara-391775, Gujarat,
India to Plot No. 268-270, 271 B, GIDC, Manjusar, Savli, Vadodara-391775,
Gujarat, India the present address.
· The registered office has again shifted from Plot No. 268-270, 271 B, GIDC, Manjusar, Savli, Vadodara-391775, Gujarat, India to the present address w.e.f. 23.05.2012.
OPERATIONS:
During the year,
the sales and other income of the Company have increased from Rs. 4117.100
Millions to Rs.5563.000 Millions. The Operating Profit i.e. Profit before
Interest, Depreciation and Tax has been Rs. 530.600 Millions as against Rs.
590.200 Millions of the previous year. The net profit after tax has been Rs.
171.300 Millions as against Rs. 281.400 Millions of the previous year.
EXPORTS:
During the year the Company has achieved an Export Turnover of Rs.
55.600 Millions as compared to Rs. 56.200 Millions in the previous year.
FIXED ASSETS:
·
Plant and Machinery
·
Office Equipments
·
Building
·
Furniture and Fixtures
NEWS:
NETAFIM EYES 25%
MARKET SHARE IN DRIP IRRIGATION SPACE
APRIL 16, 2012
Having set up its third drip irrigation plant in Savli, near Vadodara, Netafim India, a subsidiary of Tel Aviv, Israel-based Netafim is looking to scale up its capacity from 30,000 hectares to 90,000 hectares in next 12-18 months.
What's more, on the back of its third drip irrigation plant to be commissioned soon, the company is eyeing a 25 per cent share of the Rs 30000.000 Millions market in India.
"After our first drip irrigation plant in 2002 in Savli, we built our second plant in Chennai in 2008. However, lately demand for drip irrigation and other irrigation related products and services have increased tremendously in India. Which is why we set up a third plant in the country at Savli again," said Randhir Chauhan, managing director of Netafim India.
Netafim India manufactures and supplies wide range of irrigation products. With 45 years of experience in providing comprehensive irrigation solutions all over the world, today 800,000 acres of Indian farms receive Netafim's agro-technical guidance.
"With the third plant, we look to add 3-5 per cent to our current market share of 20 per cent," he said. While the first and second plants in Vadodara and Chennai have a capacity of 80,000 hectares and 30,000 hectares per annum, the third plant has been set up at a capacity of 30,000 hectares per annum.
"However, our third plant's capacity will be scaled up to 90,000 hectares within 12-18 months. Moreover, the demand has been rising since our plants in India cater to Indian needs as well as SAARC countries," Chauhan said.
According to Chauhan, Netafim is a drip irrigation focused company. "However, we do provide green house turnkey project for high intensity crop cultivation," Chauhan added.
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 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.65.96 |
|
|
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.