MIRA INFORM REPORT
|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
CARGOTEC INDIA PRIVATE LIMITED
(w.e.f 25.10.2007) |
|
|
|
|
Formerly Known
As : |
HIAB LOAD HANDLING EQUIPMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 301-306, 3rd Floor, Kesar Solitaire, Plot- 5,
Sector- 19, Sanpada, Navi Mumbai – 400705, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.02.2007 |
|
|
|
|
Com. Reg. No.: |
11-195775 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 770.414 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29150MH2007FTC195775 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH8289A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged
in the Business of Trading of Material Handling Equipments. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2359000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has recorded some accumulated losses however, no
borrowings recorded by the company during financial year 2013. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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
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 CO-OPERATIVE (91-22-67736666)
LOCATIONS
|
Registered Office : |
Office No. 301-306, 3rd Floor, Kesar Solitaire, Plot- 5,
Sector- 19, Sanpada, Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No. : |
91-22-67736666 |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Jonne Hankimaa |
|
Designation : |
Director |
|
Address : |
Nummenkenka, 15, 043000 Tuusula, - 04300, Finland |
|
Date of Birth/Age : |
15.05.1966 |
|
Date of Appointment : |
01.12.2010 |
|
PAN No.: |
ABSPH6591E |
|
DIN No. : |
02395498 |
|
|
|
|
Name : |
Mr. Loh Peng Swee |
|
Designation : |
Director |
|
Address : |
House No. 8, Petrus, Avenue The Vineyard No. 23, Ngau Tam Mei Road,
Yuen Long N.T. |
|
Date of Birth/Age : |
15.07.1964 |
|
Date of Appointment : |
14.05.2010 |
|
DIN No. : |
03041078 |
|
|
|
|
Name : |
Mr. Sommarberg Matti Allan |
|
Designation : |
Director |
|
Address : |
Nasijarvenkatu 1 C, 24, Tampere – 33210, Finland |
|
Date of Birth/Age : |
22.08.1961 |
|
Date of Appointment : |
17.01.2008 |
|
DIN No. : |
01880091 |
|
|
|
|
Name : |
Mr. Berg Hans Folke |
|
Designation : |
Director |
|
Address : |
Rakuunatie, 38, Turku, Espoo – 20720, Finland |
|
Date of Birth/Age : |
08.03.1953 |
|
Date of Appointment : |
17.01.2008 |
|
DIN No. : |
02121786 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Cargotec Sweden AB, Sweden |
89576632 |
|
Cargotec HoldingsSweden AB, Sweden |
19 |
|
|
|
|
Total |
89576651 |
|
Names of Shareholders (Preference Shares) |
No. of Shares |
|
Cargotec Sweden AB, Sweden |
1981807 |
|
|
|
|
Total |
1981807 |
As on 30.09.2013
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 : |
Subject is engaged
in the Business of Trading of Material Handling Equipments. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
5th
Floor, Tower D The Millenia , 1 and 2 Murphy Road , Ulsoor, Bangalore –
560008, Karnataka, India |
|
PAN
No. : |
AAEFP5579P |
|
|
|
|
Holding company
: |
œ
Cargotec Sweden AB, Sweden |
|
|
|
|
Fellow
Subsidiaries : |
œ
Bromma Conequip AB, Sweden œ
Bromma MalaysiaSdn. Bhd, Malaysia œ
Cargotec (ARE) LLC, Dubai œ
Cargotec Asia Limited œ
Cargotec Australia Private Limited œ
Cargotec CHS- MCG Hong Kong œ
Cargotec CHS Asia Pacific Pte Limited, Singapore œ
Cargotec Croatia d.o.o., Croatia œ
Cargotec Greece Limited œ
Cargotec Holdings Japan Limited œ
Cargotec Inc, USA œ
Cargotec Industries (China) Company Limited œ
Cargotec Italia Srl, Italy œ
Cargotec Korea Limited œ
Cargotec Marine GmbH, Germany œ
Cargotec Netherlands B.V. œ
Cargotec Norway AS, Marine œ
Cargotec Oy, Finland œ
Cargotec Oyj, Finland œ
Cargotec œ
Solutions LLC, USA œ
Cargotec Sweden Bulk Handling œ
Cargotec UK Limited œ
Hiab AB, Sweden œ
Hiab Cranes, S.L., Spain œ
Kalmar Asia Pacific Limited, Hong Kong œ
Kalmar Industries Oy AB (Tempere), Finland œ
Kalmar Industries OY AB, Sweden œ
Macgregor DEU GmbH œ
Macgregor GRC Limited œ
Macgregor Kayaba ltd, Japan œ
Macgregor Oy, Finland œ
Macgregor Shanghai Trading Company Limited œ
Moffett Engineering Limited œ
Navis (ARE) LLC, Dubai œ
Navis LLC, USA œ
Navis, Hongkong œ
Z-Lyften Production AB |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
92700000 |
Equity Shares |
Rs.10/- each |
Rs.927.000 Millions |
|
2000000 |
Preferences Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.947.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
89576651 |
Equity Shares |
Rs.10/- each |
Rs.895.766 Millions |
|
1981807 |
Preferences Shares |
Rs.10/- each |
Rs.19.818 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.915.584
Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
92700000 |
Equity Shares |
Rs.10/- each |
Rs.927.000 Millions |
|
2000000 |
Preferences Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.947.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75059651 |
Equity Shares |
Rs.10/- each |
Rs.750.596 Millions |
|
1981807 |
Preferences Shares |
Rs.10/- each |
Rs.19.818 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.770.414
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 (12
Months) |
31.03.2012 (15
Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
770.414 |
770.414 |
|
(b) Reserves & Surplus |
|
(325.874) |
(330.455) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
145.170 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
589.710 |
439.959 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
27.345 |
11.993 |
|
Total
Non-current Liabilities (3) |
|
27.345 |
11.993 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
26.556 |
|
(b) Trade payables |
|
231.015 |
232.519 |
|
(c) Other current liabilities |
|
54.338 |
36.667 |
|
(d) Short-term provisions |
|
10.025 |
10.379 |
|
Total
Current Liabilities (4) |
|
295.378 |
306.121 |
|
|
|
|
|
|
TOTAL |
|
912.433 |
758.073 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
59.480 |
63.361 |
|
(ii) Intangible Assets |
|
10.116 |
22.425 |
|
(iii) Capital work-in-progress |
|
11.215 |
11.215 |
|
(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 |
|
80.999 |
78.421 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
161.810 |
175.422 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
237.124 |
264.523 |
|
(c) Trade receivables |
|
294.542 |
277.269 |
|
(d) Cash and cash equivalents |
|
176.773 |
3.342 |
|
(e) Short-term loans and advances |
|
41.844 |
37.517 |
|
(f) Other current assets |
|
0.340 |
0.000 |
|
Total
Current Assets |
|
750.623 |
582.651 |
|
|
|
|
|
|
TOTAL |
|
912.433 |
758.073 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
770.415 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(317.414) |
|
|
NETWORTH |
|
|
453.001 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
453.001 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
140.218 |
|
|
Capital work-in-progress |
|
|
10.585 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
203.207 |
|
|
Sundry Debtors |
|
|
140.351 |
|
|
Cash & Bank Balances |
|
|
39.898 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
125.308 |
|
Total
Current Assets |
|
|
508.764 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
152.276 |
|
|
Other Current Liabilities |
|
|
39.492 |
|
|
Provisions |
|
|
14.798 |
|
Total
Current Liabilities |
|
|
206.566 |
|
|
Net Current Assets |
|
|
302.198 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
453.001 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 (12
Months) |
31.03.2012 (15
Months) |
31.12.2010 |
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
1508.306 |
1386.453 |
849.197 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
1409.530 |
1322.681 |
849.867 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
98.776 |
63.772 |
(0.670) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
67.012 |
75.957 |
62.999 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
31.764 |
(12.185) |
(63.669) |
|
|
|
|
|
|
|
Less |
TAX |
(1.113) |
0.856 |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
32.877 |
(13.041) |
NA |
|
|
|
|
|
|
|
|
Earning Per
Shares (RS.) |
0.43 |
(0.17) |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 (12
Months) |
31.03.2012 (15
Months) |
31.12.2010 |
|
PAT / Total Income |
(%) |
2.18
|
(0.94) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.87
|
(1.82) |
(9.81) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
(0.03) |
(0.14) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.06 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54
|
1.90 |
2.46 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
770.414 |
770.414 |
|
Reserves & Surplus |
(330.455) |
(325.874) |
|
Share Application money
pending allotment |
0.000 |
145.170 |
|
Net
worth |
439.959 |
444.540 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
26.556 |
0.000 |
|
Total
borrowings |
26.556 |
0.000 |
|
Debt/Equity
ratio |
0.060 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
849.197 |
1386.453 |
1508.306 |
|
|
|
63.266 |
8.789 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
849.197 |
1386.453 |
1508.306 |
|
Profit |
(63.669) |
(12.185) |
31.764 |
|
|
(7.50%) |
(0.88%) |
2.11% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
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 |
No |
|
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 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
0.000 |
20.000 |
|
Loans repayable on demand |
0.000 |
6.556 |
|
Total |
0.000 |
26.556 |
INDEX OF CHARGES
No Charges Exist for Company
BACKGROUND
The company was
incorporated on 14th February, 2007. The company is a subsidiary of
Cargotec Sweden AB, a company incorporated in Sweden. The company is engaged in
the business of trading of material handling equipments. The company
manufactures certain material handling equipments in its factory at Bangalore.
The company renders maintenance and other services to various customers
relating to the above material handling equipments and also renders agency
services on commission basis to its group companies internationally. The
company provides engineering services such as structural analysis, software
development and design and drafting services with the help of purchased
software based on specification received from overseas associated Group
companies. Pursuant to scheme of amalgamation, in accordance with the
provisions of Section 391 to 394 of The Companies Act, 1956, as sanctioned by
the Hon'ble High Court of Bombay vide its Order dated 5th April, 2013, the
erstwhile Navis India Technologies Private Limited has merged with the company,
with effect from 1st April, 2012 onwards. The erstwhile Navis India
Technologies Private Limited has been carrying out business of Software
Development and Information Technology enabled services.
FIXED ASSETS
œ
Building
œ
Computer Equipment
œ
Leasehold Improvements
œ
Furniture and Fixtures
œ
Office Equipment
œ
Vehicles
œ
Plant and Machinery
œ
Goodwill
œ
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.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.