|
Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
LUBRIZOL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, VIP House, 88-C, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
20.07.1966 |
|
|
|
|
Com. Reg. No.: |
11-013538 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 192.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201MH1966PTC013538 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML04740B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL0126H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of Lubricants. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 12790000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exits |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having fine track
record. Financial position of the company appears to be sound. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitments. 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 |
AA- (Long Term Rating) |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
2nd August 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
2nd August 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 DECLINED BY
Management non co-operative
LOCATIONS
|
Registered Office / Marketing Division: |
2nd Floor, VIP House, 88-C, |
|
Tel. No.: |
91-22-24300672 / 0784 / 1856 / 2315 / 24222062 / 24302315 /
24370995 |
|
Fax No.: |
91-22-24300251 / 24370994 / 24366097 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
9/3, |
|
Tel. No.: |
91-22-27672568 / 67759570 |
|
Fax No.: |
91-22-27627155 / 67759434 |
|
|
|
|
Factory 2 : |
T-6, MIDC, Industrial Area, Taloja, District Raigad, |
|
Tel. No.: |
91-22-27410813 |
|
Fax No.: |
91-22-27410910 |
DIRECTORS
AS ON 18.03.2013
|
Name : |
Mr. Gyan Chand Daga |
|
Designation : |
Alternate Director |
|
Address : |
42, Casa Grande Little Gibbs Road, Malabar Mills, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
08.09.1951 |
|
Date of Appointment : |
28.11.2011 |
|
DIN No.: |
00101534 |
|
|
|
|
Name : |
Mr. Darius Cavasji Shroff |
|
Designation : |
Alternate Director |
|
Address : |
Moonlight, Flat No.8, 158, M. Karve Road, Churchgate, Mumbai – 400
020, Maharashtra, India |
|
Date of Birth/Age : |
08.08.1944 |
|
Date of Appointment : |
22.07.2004 |
|
DIN No.: |
00170680 |
|
|
|
|
Name : |
Mr. David James Fries |
|
Designation : |
Director |
|
Address : |
2051, Ridgebury Drive, Painsville, OH – 44077, USA |
|
Date of Birth/Age : |
14.02.1959 |
|
Date of Appointment : |
22.07.2004 |
|
DIN No.: |
00655276 |
|
|
|
|
Name : |
Mr. Madhukar Ramniklal Kumbhani |
|
Designation : |
Managing Director |
|
Address : |
99, Dariya Mahal B 80, Nepean Sea Road, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
04.02.1950 |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
01902492 |
|
|
|
|
Name : |
Mr. Ravinder Kumar Malhotra |
|
Designation : |
Additional Director |
|
Address : |
303, A.G.C.R. Enclave, New Delhi – 110 092, India |
|
Date of Birth/Age : |
25.06.1954 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
02024661 |
|
|
|
|
Name : |
Mr. John Louis Petric |
|
Designation : |
Director |
|
Address : |
9277 Regency Woods, Kirtland, OH, OHIO, 44094, United States of
America |
|
Date of Birth/Age : |
07.05.1951 |
|
Date of Appointment : |
11.06.2009 |
|
DIN No.: |
02703611 |
|
|
|
|
Name : |
Mr. Ramaswamy Viswanathan |
|
Designation : |
Director |
|
Address : |
Flat 201, Bajaj Daimond, 2, Union Park, Pali Hills, Khar (West),
Mumbai – 400 052, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1953 |
|
Date of Appointment : |
11.04.2011 |
|
DIN No.: |
03514662 |
|
|
|
|
Name : |
Mr. Vijay Kumar Gupta |
|
Designation : |
Alternate Director |
|
Address : |
V-33, Green Park, Delhi – 110 016, India |
|
Date of Birth/Age : |
04.06.1954 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
03613222 |
KEY EXECUTIVES
|
Name : |
Indulekha Nitin Godse |
|
Designation : |
Secretary |
|
Address : |
JN-4/10/14, Blue Haven, Sector 10, Vashi, Navi Mumbai – 400 703,
Maharashtra, India |
|
Date of Birth/Age : |
02.09.1963 |
|
Date of Appointment : |
01.12.2004 |
|
PAN No.: |
ACCPG6775A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.03.2013
|
Names of Shareholders |
No. of Shares |
|
The Lubrizol Corporation, U.S.A |
960000 |
|
Indian Oil Corporation Limited, India |
960000 |
|
TOTAL
|
1920000 |
AS ON 18.03.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Government companies |
50.00 |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s)
Foreign financial institution(s), Non-resident Indian(s) or Overseas
Corporate bodies or Others |
50.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Lubricants. |
|
|
|
|
Products : |
·
Engine Oil – Additives ·
Viscosity Index- Improvers and Pour Point
Depressant ·
Industrial Oil – Additives |
|
|
|
|
Brand Names : |
“ LUBRIZOL” |
PRODUCTION STATUS (AS ON 31.12.2011)
|
Particulars |
Installed
Capacity (MTPA)@ |
Actual
Production (MTPA) |
|
Finished
Additive packing Chemical Additives
inclusive of: Metal Working Oil Additives, Anti – Oxidant, Corrosion Inhibitor,
Detergent Additives, Dispersant, Additives, Extreme Pressure Additives, V.I. Improvers
/Pour Point Depressants and Flow Improvers |
60000 |
47142 |
|
Raw Material - Isobutylene |
3000 |
-- |
Note:
1. @ indicates as certified by Management
2. Production figures are inclusive of production
for captive consumption.
3. Since licenses are no longer required for
products manufactured, the data for the same are not given.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
·
State Bank of · Bank of India, Mumbai, Maharashtra, India. · ICICI Bank Limited, Mumbai, Maharashtra, India. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Plot No. 12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679025 / 66679100 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Joint Ventures : |
|
CAPITAL STRUCTURE
AS ON 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1920000 |
Equity Shares |
Rs.100/- each |
Rs. 192.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1920000 |
Equity Shares |
Rs.100/- each |
Rs. 192.000 Millions |
|
|
|
|
|
NOTES
Equity Shares
outstanding at the beginning and end of the year - 1,920,000.00
The company has a
single class of equity shares. Each shareholder is eligible for one vote per
share held. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders. In the event of liquidation, the equity
shareholders are eligible to receive the remaining assets of the company in
proportion to their shareholding.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
192.000 |
192.000 |
|
(b) Reserves & Surplus |
|
3005.669 |
2868.350 |
|
(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) |
|
3197.669 |
3060.350 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.055 |
0.053 |
|
(b) Deferred tax liabilities (Net) |
|
39.795 |
34.631 |
|
(c) Other long term
liabilities |
|
4.441 |
3.325 |
|
(d) long-term
provisions |
|
180.776 |
163.136 |
|
Total Non-current
Liabilities (3) |
|
225.067 |
201.145 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
499.392 |
513.069 |
|
(c) Other
current liabilities |
|
139.683 |
114.212 |
|
(d) Short-term
provisions |
|
563.079 |
677.303 |
|
Total Current
Liabilities (4) |
|
1202.154 |
1304.584 |
|
|
|
|
|
|
TOTAL |
|
4624.890 |
4566.079 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1003.912 |
835.630 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
141.955 |
72.747 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
113.770 |
71.132 |
|
(e) Other
Non-current assets |
|
1.665 |
1.665 |
|
Total Non-Current
Assets |
|
1261.302 |
981.174 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1865.212 |
1745.322 |
|
(c) Trade
receivables |
|
812.372 |
873.599 |
|
(d) Cash
and cash equivalents |
|
628.623 |
883.267 |
|
(e)
Short-term loans and advances |
|
51.514 |
65.867 |
|
(f) Other
current assets |
|
5.867 |
16.850 |
|
Total
Current Assets |
|
3363.588 |
3584.905 |
|
|
|
|
|
|
TOTAL |
|
4624.890 |
4566.079 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
192.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2593.820 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2785.820 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.045 |
|
|
TOTAL BORROWING |
|
|
0.045 |
|
|
DEFERRED TAX LIABILITIES |
|
|
45.397 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2831.262 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
758.302 |
|
|
Capital work-in-progress |
|
|
45.946 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1508.114
|
|
|
Sundry Debtors |
|
|
715.214
|
|
|
Cash & Bank Balances |
|
|
890.997
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
218.630 |
|
Total
Current Assets |
|
|
3332.955 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
785.758 |
|
|
Other Current Liabilities |
|
|
10.649 |
|
|
Provisions |
|
|
509.534 |
|
Total
Current Liabilities |
|
|
1305.941 |
|
|
Net Current Assets |
|
|
2027.014 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2831.262 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
8528.086 |
8278.132 |
7286.194 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1805.564 |
2127.509 |
1894.891 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1805.564 |
2127.509 |
1894.891 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
110.946 |
93.226 |
87.576 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1694.618 |
2034.283 |
1807.315 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
553.137 |
644.016 |
597.699 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1141.481 |
1390.267 |
1209.616 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
581.713 |
446.210 |
431.035 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
114.148 |
139.027 |
120.961 |
|
|
|
Proposed Final Dividend |
480.000 |
576.000 |
307.200 |
|
|
|
Tax on Proposed Dividend |
77.868 |
93.442 |
49.836 |
|
|
|
Tax on Interim Dividend |
62.294 |
62.295 |
102.044 |
|
|
|
Interim Dividend |
384.000 |
384.000 |
614.400 |
|
|
BALANCE CARRIED
TO THE B/S |
604.884 |
581.713 |
446.210 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports |
733.661 |
805.975 |
681.878 |
|
|
|
Commission Earnings |
17.873 |
17.832 |
14.386 |
|
|
|
Discount Received |
0.927 |
1.009 |
0.675 |
|
|
TOTAL EARNINGS |
752.461 |
824.816 |
696.939 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1170.496 |
739.208 |
680.805 |
|
|
|
Intermediates |
1810.180 |
1407.406 |
1094.786 |
|
|
|
Traded |
10.010 |
10.858 |
14.897 |
|
|
|
Stores & Spares |
13.579 |
8.742 |
6.374 |
|
|
|
Capital Goods |
46.912 |
27.594 |
17.786 |
|
|
TOTAL IMPORTS |
3051.177 |
2193.808 |
1814.648 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
594.52 |
724.10 |
630.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
37.80
|
45.27 |
44.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.66 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.80
|
2.75 |
2.55 |
LOCAL AGENCY FURTHER INFORMATION
|
CASE DETAILS BENCH : - BOMBAY
|
|
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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.12.2012 |
Rs.
In Millions 31.12.2011 |
|
Long Term
Borrowings |
|
|
|
Loan from Related Party |
0.055 |
0.053 |
|
|
|
|
|
TOTAL |
0.055 |
0.053 |
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particulars |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
Current Maturities Of Long Term Debt |
NA |
NA |
NA |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10137422 |
21/11/2008 |
120,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, OPPOSITE SHIVAJI
VIDYALAYA, DADAR |
A54505193 |
SALES AND
MARKETING
Domestic sales volume in 2012 is 4.89 % lower than in 2011 due to
economic shutdown.
Export sales volume in 2012 is 25.26 % lower than in 2011 due to reduced
demand from LZ. The company expects future export sales to be lower in coming
years.
FIXED ASSETS
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. 63.14 |
|
UK Pound |
1 |
Rs. 100.48 |
|
Euro |
1 |
Rs. 84.36 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
TOTAL |
|
66 |
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.