MIRA INFORM REPORT
|
Report Date : |
15.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMMANN APOLLO INDIA PRIVATE LIMITED (w.e.f. 23.04.2013) |
|
|
|
|
Formerly Known
As : |
APOLLO CONSTRUCTION EQUIPMENTS LIMITED |
|
|
|
|
Registered
Office : |
9P, 11P, 139P At. Ditasan, Post Office Jagudan, Mehsana – 382710,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.12.1997 |
|
|
|
|
Com. Reg. No.: |
04-033432 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 8.620 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29248GJ1997PTC033432 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ7628J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Asphalt Mixing Plants, Compaction Machines and Asphalt
Pavers. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 810000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. There appears dip in profit of the company during financial year 2013. However, the rating reflects healthy financial risk profile marked by
established position in the road construction and maintenance equipment
sector and adequate liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief information
officers at gathering in Bangalore in April to meet Indian startups at an event
called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: (A) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
19.11.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: (A1) |
|
Rating Explanation |
Very strong degree at safety and lowest credit
risk. |
|
Date |
19.11.2013 |
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
Management Non-cooperative (91-2762-285344)
LOCATIONS
|
Registered Office : |
9P, 11P, 139P At. Ditasan, Post Office Jagudan, Mehsana – 382710,
Gujarat, India |
|
Tel. No.: |
91-2762-285344 |
|
Fax No.: |
91-2762-285359 |
|
E-Mail : |
DIRECTORS
As on: 23.08.2013
|
Name : |
Mr. Asit Anilbhai Patel |
|
Designation : |
Director |
|
Address : |
Plot No.76, Sector-19, Near Gymkhna, Gandhinagar - 382 019, Gujarat, India |
|
Date of Birth/Age : |
30.09.1961 |
|
Date of Appointment : |
22.03.2013 |
|
DIN No.: |
00093332 |
|
|
|
|
Name : |
Mr. Anilkumar Tribhovandas Patel |
|
Designation : |
Director |
|
Address : |
3,Adarsh Society, State Highway, Mehsana – 384002, Gujarat, India |
|
Date of Birth/Age : |
15.02.1972 |
|
Date of Appointment : |
01.12.2012 |
|
DIN No.: |
00096307 |
|
|
|
|
Name : |
Mr. Hans Christian Schneider |
|
Designation : |
Director |
|
Address : |
Laubeggst Rasse 54, Bern, Switzerland - 3006 |
|
Date of Birth/Age : |
20.08.1979 |
|
Date of Appointment : |
10.04.2013 |
|
DIN No.: |
06530857 |
|
|
|
|
Name : |
Mr. Rolf Johannjenny |
|
Designation : |
Director |
|
Address : |
Vogelsangst Rasse 6, Eich, Switzerland - 6205 |
|
Date of Birth/Age : |
18.11.1948 |
|
Date of Appointment : |
10.04.2013 |
|
DIN No.: |
06530863 |
|
|
|
|
Name : |
Mr. Tomaskopic |
|
Designation : |
Director |
|
Address : |
Vlukach 462/44, Hardec Kralove, Czech Republic - 50341 |
|
Date of Birth/Age : |
07.04.1973 |
|
Date of Appointment : |
10.04.2013 |
|
DIN No.: |
06530868 |
|
|
|
|
Name : |
Mr. Elmar Johannegli |
|
Designation : |
Director |
|
Address : |
Obere St Eingrubenstrasse, 65, Solothurn, Switzerland - 4500 |
|
Date of Birth/Age : |
03.03.1961 |
|
Date of Appointment : |
10.04.2013 |
|
DIN No.: |
06530921 |
|
|
|
|
Name : |
Mr. Anand Anilbhai Patel |
|
Designation : |
Alternate director |
|
Address : |
3,Adarsh Society, State Highway, Mehsana – 384002, Gujarat, India |
|
Date of Birth/Age : |
26.06.1972 |
|
Date of Appointment : |
15.05.2013 |
|
DIN No.: |
00002277 |
|
|
|
|
Name : |
Mr. Patel Dhruv Ashokbha |
|
Designation : |
Alternate director |
|
Address : |
11, Utsav Bunglows, Opposite Tv Tower, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
12.05.1982 |
|
Date of Appointment : |
15.05.2013 |
|
DIN No.: |
05270487 |
|
|
|
|
Name : |
Mr. Palak Mitul Patel |
|
Designation : |
Director |
|
Address : |
1, Harinagar Society, Highway, Mehsana – 384002, Gujarat, India |
|
Date of Birth/Age : |
10.08.1983 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02355310 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 23.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ammann Singapore Pte Limited, India |
|
2008460 |
|
Ammann Schweiz AG, Switzerland |
|
2873 |
|
Apollo Earthmovers Limited, India |
|
861970 |
|
Anil Patel |
|
30 |
|
Total |
|
2873333 |
Equity Share Break up (Percentage of Total Equity)
As on: 23.08.2013
|
Category |
Percentage |
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
70.00 |
|
Bodies corporate |
30.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Asphalt Mixing Plants, Compaction Machines and Asphalt
Pavers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Bank of Baroda, Opposite Simandhar Temple, Industrial Estate Branch, Mehsana - 384002, Gujarat, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Virendra Chinubhai and Company Chartered Accountants |
|
Address : |
1-2-3, Vyapar Bhawan, Visnagar – 384315, India |
|
PAN No.: |
ADSPS6638P |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital : 6000000*10 = Rs. 60.000 Millions
Authorised Capital : 862000*10 = Rs. 8.620 Millions
As on: 23.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2873333 |
Equity Shares |
Rs.10/- each |
Rs. 28.733
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.620 |
8.620 |
8.620 |
|
(b) Reserves & Surplus |
194.106 |
356.238 |
356.238 |
|
(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) |
202.726 |
364.858 |
364.858 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
32.457 |
|
(b) Deferred tax liabilities (Net) |
18.507 |
13.256 |
13.256 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
18.507 |
13.256 |
45.713 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
82.669 |
82.670 |
|
(b) Trade payables |
81.846 |
107.087 |
107.086 |
|
(c) Other current
liabilities |
37.996 |
54.106 |
21.648 |
|
(d) Short-term
provisions |
253.537 |
32.496 |
32.496 |
|
Total Current
Liabilities (4) |
373.379 |
276.358 |
243.900 |
|
|
|
|
|
|
TOTAL |
594.612 |
654.472 |
654.471 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
123.391 |
148.162 |
148.162 |
|
(ii) Intangible Assets |
1.748 |
0.432 |
0.432 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
113.211 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.580 |
1.535 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
1.535 |
|
Total Non-Current
Assets |
126.719 |
150.129 |
263.340 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
113.211 |
0.000 |
|
(b) Inventories |
55.227 |
130.149 |
130.148 |
|
(c) Trade receivables |
107.786 |
55.717 |
55.717 |
|
(d) Cash and cash
equivalents |
74.805 |
28.256 |
28.256 |
|
(e) Short-term loans
and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current
assets |
230.075 |
177.010 |
177.010 |
|
Total Current Assets |
467.893 |
504.343 |
391.131 |
|
|
|
|
|
|
TOTAL |
594.612 |
654.472 |
654.471 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
928.483 |
753.381 |
648.486 |
|
|
|
Other Income |
NA |
19.567 |
7.648 |
|
|
|
TOTAL (A) |
NA |
772.948 |
656.134 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
503.211 |
440.619 |
|
|
|
Increase (Decrease) in inventories |
|
(12.498) |
(17.885) |
|
|
|
Employee benefit expenses |
|
20.781 |
19.319 |
|
|
|
Other expenses |
|
102.158 |
76.456 |
|
|
|
TOTAL (B) |
NA |
613.652 |
518.509 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
159.296 |
137.625 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
12.937 |
2.853 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
155.728 |
146.358 |
134.772 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.927 |
7.419 |
7.047 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
147.801 |
138.940 |
127.725 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
83.011 |
40.749 |
48.668 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
64.790 |
98.191 |
79.057 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
40.929 |
36.391 |
|
|
|
Capital Goods |
NA |
7.886 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
48.815 |
36.391 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.55 |
113.91 |
91.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
NA |
12.70 |
12.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.91 |
18.44 |
19.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.86 |
21.22 |
23.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.72 |
0.39 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.22 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.82 |
1.60 |
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 |
8.620 |
8.620 |
8.620 |
|
Reserves & Surplus |
356.238 |
356.238 |
194.106 |
|
Net
worth |
364.858 |
364.858 |
202.726 |
|
|
|
|
|
|
long-term borrowings |
32.457 |
0.000 |
0.000 |
|
Short term borrowings |
82.670 |
82.669 |
0.000 |
|
Total
borrowings |
115.127 |
82.669 |
0.000 |
|
Debt/Equity
ratio |
0.316 |
0.227 |
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 |
648.486 |
753.381 |
928.483 |
|
|
|
16.175 |
23.242 |
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
|
648.486 |
753.381 |
928.483 |
|
Profit |
79.057 |
98.191 |
64.790 |
|
|
12.19% |
13.03% |
6.98% |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS:
During the year Company has achieved turnover of Rs. 928.483 Millions, as compared to last years’ sales of Rs. 753.380 Millions and earned a profit of Rs. 64.790 Millions compared to profit of Rs. 98.191 Millions for the previous financial year. The directors are hopeful of getting better results in the current financial year.
The Company has executed a Business Transfer Agreement with Gujarat Apollo Industries Limited (GAIL) and Ammann Group for a strategic joint venture with Switzerland based Ammann Group. GAIL and its wholly owned subsidiary, Apollo Earthmovers Limited (AEML) have transferred their respective identified businesses, being the entire product portfolio of asphalt plants and paver business, excluding, crushing and screening business of GAIL, on 10.04.2013 to the Company on slump sale business. The transaction was approved by the shareholders of both the Companies.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90105150 |
21/03/2002 |
1,915,000.00 |
TECHNOLOGY INFORMATION; FORECASTING AND ASSESSMENT C |
TECHNOLOGY BHAWAN, NEW MEHRAULI ROAD, NEW DELHI, DELHI - 110016, INDIA |
- |
|
2 |
90105067 |
23/03/2001 |
4,402,000.00 |
TECHNOLOGY INFORMATION; FORECASTING AND ASSESSMENT C |
TECHNOLOGY BHAWAN, NEW MEHRAULI ROAD, NEW DELHI, DELHI - 110016, INDIA |
- |
|
3 |
90104054 |
22/12/2012 * |
55,000,000.00 |
BANK OF BARODA |
OPP. SIMANDHAR TEMPLE, INDUSTRIAL ESTATE BRANCH, |
B66050287 |
|
4 |
90107260 |
22/12/2012 * |
55,000,000.00 |
BANK OF BARODA |
OPP. SIMANDHAR TEMPLE, INDUSTRIAL ESTATE BRANCH, |
B66050576 |
|
5 |
90106376 |
17/11/2003 * |
8,000,000.00 |
BANK OF BARODA |
INDUSTRIAL ESTATE BRANCH, MAHESNA, GUJARAT, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land and Buildings
- Factory equipment
- Furniture and fixtures
- Motor vehicles
- Computer equipment
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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
52 |
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.