MIRA
INFORM REPORT
|
Report Date : |
02.04.2014 |
IDENTIFICATION DETAILS
|
Name
: |
DELTA POWER SOLUTIONS
INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 38, Phase-1,
Sector-5, Integrated Industrial Estate, RudrapurPantnagar- 263153, Uttarakhand |
|
|
|
|
Country
: |
|
|
|
|
|
Financials
(as on) : |
31.03.2013 |
|
|
|
|
Date
of Incorporation : |
09.04.2007 |
|
|
|
|
Com.
Reg. No.: |
20-032864 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1638.627 Millions |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U32201UR2007FTC032864 |
|
|
|
|
PAN
No.: [Permanent
Account No.] |
AACCD5896N |
|
|
|
|
Legal
Form : |
Private Limited Liability
Company |
|
|
|
|
Line
of Business : |
Manufacturing and Trading of Power Solutions Equipment and Components. |
|
|
|
|
No.
of Employees : |
Information denied by
management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial
difficulties seems comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 5970000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
company having moderate track record. There are accumulated
losses recorded by the company. However, trade relation
are fair. Business is active. Payment terms are slow but correct. The company can be considered
for business dealing with some caution. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners.The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 DENIED
Management Non-Cooperative (Tel No.: 91-124-4874900)
LOCATIONS
|
Registered Office/
Factory : |
Plot No. 38, Phase-1,
Sector-5, Integrated Industrial Estate, RudrapurPantnagar, Uttarakhand –
263153, India |
|
Tel. No.: |
91-124-4874900 |
|
Fax No.: |
91-124-4874945 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate
Office 1 : |
Plot No.27, Sector -34, EHTP,
Gurgaon – 122001, Haryana, India |
|
Tel.
No.: |
91-124-4874900/ 4169040 |
|
Fax
No.: |
91-124-4036045 |
|
Area
: |
1 Acre |
|
Location
: |
Rented |
|
|
|
|
Corporate
Office 2 : |
Plot No.43, Sector-35,
Industrial Estate, Gurgaon – 122001, Haryana, India |
|
|
|
|
Factory
: |
RS No.15/2, 3, 4, 6,
Thirubhavanar Village, Mannadipet Commune, Pondicherry– 605 107, India |
|
Tel.
No.: |
91-413-2643311 |
|
Fax
No.: |
91-413-2641002 |
|
Location
: |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Deepak Sharma |
|
Designation : |
Director |
|
Address : |
M-129, S.F. Blossom- II,
Mayfield Garden, Sector-51, Gurgaon - 122002, Haryana, India |
|
Date of Birth/Age : |
26.11.1972 |
|
Date of Appointment : |
06.12.2011 |
|
PAN No.: |
AYAPS1391N |
|
DIN No.: |
03598381 |
|
|
|
|
Name : |
Mr. AnusornMuttaraid |
|
Designation : |
Director |
|
Address : |
888/ 41, M 006,
TambolPhraksa, Amphurmuang, Samutprakarn - 10280, Thailand |
|
Date of Birth/Age : |
28.02.1954 |
|
Date of Appointment : |
11.08.2008 |
|
DIN No.: |
02338579 |
|
|
|
|
Name : |
Mr. KuikKeiongSim |
|
Designation : |
Director |
|
Address : |
House No.1003, Lower
Delta Road, Singapore |
|
Date of Birth/Age : |
21.12.1950 |
|
Date of Appointment : |
03.05.2013 |
|
DIN No.: |
06594818 |
KEY EXECUTIVES
|
Name : |
Mr. Nandan Kumar |
|
Designation : |
Secretary |
|
Address : |
AshianaAngan, L- 733, L-
09, Near Alwar Bye Pass, Bhiwadi - 301019, Rajasthan, India |
|
Date of Birth/Age : |
04.10.1979 |
|
Date of Appointment : |
11.09.2008 |
|
PAN No.: |
ASUPK2066N |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No.
of Shares |
|
Delta Greentech
International (Singapore) PTE Limited, Singapore |
|
163862651 |
|
DET Video Technology
Limited, British Virgin Islands |
|
1 |
|
Total |
|
163862652 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
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 Power Solutions Equipment and Components. |
||||||||
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|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by
management |
|
|
|
|
Bankers : |
·
Citi Bank · Standard Chartered Bank, Delhi Branch ·
ABN Amro Bank, Delhi Branch |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name
: |
S.R. Batliboi and Company Chartered Accountants |
|
Address
: |
Golf View Corporate, Tower B, Sector 42, Gurgaon - 122002,
Haryana, India |
|
PAN
No.: |
AALFS0506L |
|
|
|
|
Holding Company : |
Delta Greentech International
Singapore PTE Limited, Singapore |
|
|
|
|
Ultimate Holding Company : |
Delta Electronic (Thailand)
Public Company Limited |
|
|
|
|
Fellow Subsidiaries : |
· Delta Electronics Inc., Taiwan · Delta Electronics International Limited, Macao · Delta Electro-optics (Wuijiang-Limited) · Delta Energy Systems (India) Private Limited CIN No: U32308HR1996PTC034410 · Delta Products Corporation · Delta – Cimic Electronics Company Limited China · Delta Energy Systems, Switzerland · Delta Greentech China Company Limited, China · Delta India Electronics Private Limited CIN No: U32109HR2008FTC038068 · Delta Greentech SGP Pte Limited, Singapore · Delta Electronics (Jiang Su) Company Limited · Delta Electronics (Slovakia) S.R.O. · Delta Energy Systems (Finland) O.Y. · Delta Energy Systems (France) S.A. · Deltronics Netherland BV · Delsolar Company Limited · Delsolar (Wujiang) Limited · Delta Energy Systems (Germany) · Delta Video Display Systems · Delta Energy Systems (Spain) · Delta Greentech (Brasil) · Delta Energy Systems, Slovaki |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170000000 |
Equity Shares |
Rs.10/- each |
Rs.1700.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
163862652 |
Equity Shares |
Rs.10/- each |
Rs.1638.627 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a)
Share Capital |
1,638.627 |
1,638.627 |
1,220.000 |
|
(b)
Reserves & Surplus |
(145.246) |
(100.256) |
29.086 |
|
(c)
Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1,493.381 |
1,538.371 |
1,249.086 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.734 |
|
(d) long-term
provisions |
7.628 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
7.628 |
0.000 |
0.734 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
600.000 |
|
(b) Trade payables |
654.043 |
447.501 |
639.905 |
|
(c) Other current liabilities |
30.178 |
31.324 |
60.563 |
|
(d) Short-term
provisions |
33.597 |
23.386 |
28.595 |
|
Total Current
Liabilities (4) |
717.818 |
502.211 |
1,329.063 |
|
|
|
|
|
|
TOTAL |
2,218.827 |
2,040.582 |
2,578.883 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
454.921 |
508.149 |
548.310 |
|
(ii) Intangible Assets |
4.885 |
3.919 |
2.983 |
|
(iii) Capital work-in-progress |
0.003 |
0.213 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
16.228 |
6.636 |
|
(b) Non-current Investments |
0.090 |
0.090 |
0.090 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
35.830 |
21.993 |
39.775 |
|
(e) Other
Non-current assets |
8.087 |
5.815 |
5.996 |
|
Total Non-Current
Assets |
503.816 |
556.407 |
603.790 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
697.495 |
548.310 |
713.826 |
|
(c) Trade receivables |
522.407 |
539.715 |
985.922 |
|
(d) Cash and cash equivalents |
226.232 |
82.794 |
45.403 |
|
(e) Short-term loans and advances |
268.723 |
313.277 |
229.863 |
|
(f) Other current assets |
0.154 |
0.079 |
0.079 |
|
Total Current Assets |
1,715.011 |
1,484.175 |
1,975.093 |
|
|
|
|
|
|
TOTAL |
2,218.827 |
2,040.582 |
2,578.883 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2,828.386 |
2,774.268 |
4236.271 |
|
|
|
|
Other Income |
122.592 |
19.466 |
5.909 |
|
|
|
|
TOTAL (A) |
2,950.978 |
2,793.734 |
4,242.180 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL (B) |
2,925.945 |
2,866.446 |
4223.259 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION (A-B)(C) |
25.033 |
(72.712) |
18.921 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL EXPENSES (D) |
0.000 |
12.396 |
40.442 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
25.033 |
(85.108) |
(21.521) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/ AMORTISATION (F) |
68.230 |
70.607 |
60.440 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
(43.197) |
(155.715) |
(81.961) |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
1.493 |
0.000 |
31.847 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
(44.690) |
(155.715) |
(113.808) |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
(126.629) |
29.086 |
142.894 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED TO THE B/S |
(171.319) |
(126.629) |
29.086 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
||
|
|
|
Exports of goods (on F.O.B.
basis) |
119.017 |
418.040 |
|
|
|
|
|
Sale of service |
0.000 |
2.396 |
|
|
|
|
|
Software usage charges |
11.858 |
0.000 |
|
|
|
|
|
Sales commission |
2.633 |
0.000 |
|
|
|
|
|
Promotion expense |
1.889 |
3.768 |
|
|
|
|
|
Sales support charges |
14.377 |
10.562 |
|
|
|
|
|
Others (reimbursement) |
2.888 |
3.049 |
|
|
|
|
TOTAL EARNINGS |
152.662 |
437.815 |
NA |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
827.084 |
787.233 |
|
|
|
|
|
Traded Goods |
418.890 |
306.892 |
|
|
|
|
|
Capital Goods |
0.207 |
16.010 |
|
|
|
|
TOTAL IMPORTS |
1246.181 |
1110.135 |
NA |
||
|
|
|
|
|
|
||
|
|
Earnings Per Share (Rs.) |
(0.27 |
(0.95) |
(0.93) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.51) |
(5.57) |
(2.68) |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
(1.53) |
(5.61) |
(1.93) |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
(1.95) |
(7.69) |
(3.19) |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
(0.03) |
(0.10) |
(0.07) |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Debt /Networth) |
|
0.00 |
0.00 |
0.48 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
2.39 |
2.96 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Share Capital |
1220.000 |
1638.627 |
1638.627 |
|
Reserves & Surplus |
29.086 |
(100.256) |
(145.246) |
|
Net worth |
1249.086 |
1538.371 |
1493.381 |
|
|
|
|
|
|
long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
600.000 |
0.000 |
0.000 |
|
Total borrowings |
600.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.480 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Sales |
4,236.271 |
2,774.268 |
2,828.386 |
|
|
|
(34.512) |
1.951 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Sales |
4,236.271 |
2,774.268 |
2,828.386 |
|
Profit |
(113.808) |
(155.715) |
(44.690) |
|
|
(2.69%) |
(5.61%) |
(1.58%) |
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 |
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 |
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 |
CORPORATE
INFORMATION:
The Company' is incorporated under provisions of the Companies
Act, 1956 with the primary objective of providing power solutions to industrial
consumers. It manufactures and trades power solution equipment’s and
components.
FINANCIAL
PERFORMANCE:
During the period, the company has earned income Rs.2950.978
Millions as against Rs.2793.734 Millions in the previous year. The Company has
incurred the losses after tax of Rs. (44.690 Millions)- during the period under
review as compared to the profit after tax of Rs.(155.715 Millions)/- in the
previous financial year.
BUSINESS
OPERATIONS:
The Company has withstood the challenges of the year 2012-2013 and
is again confident to have a strong performance in the coming year of 2013-
2014.
Based on the current market scenario and due to advent of new
technology like 4G, the Company continued to foresee these new challenges as
well as opportunities in Telecom power systems (TPS) segments. However, in both
the products segment i.e. TPS and UPS, the Company still expects double digit
growth in the years to come. Your Directors are confident that in order to meet
these challenges necessary resources would be arranged for and utilized
optimally to get maximum benefit.
NOTE: NO CHARGES
EXIST FOR THE COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.85 |
INFORMATION DETAILS
|
Information Gathered by : |
PRT |
|
|
|
|
Analysis Done by : |
SUM |
|
|
|
|
Report Prepared by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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 |
|
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.