MIRA
INFORM REPORT
|
Report Date : |
15.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMERSON INDUSTRIAL AUTOMATION ELECTRIC POWER GENERATION PRIVATE
LIMITED (w.e.f 08.11.2012) |
|
|
|
|
Formerly Known
As : |
TRIDENT POWERCRAFT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.45, Nagarur, Huskur,
Road, Off Tumkur Road, Bangalore – 562123, Kolkata |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.04.2000 |
|
|
|
|
Com. Reg. No.: |
08-026953 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31101KA2000PTC026953 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The principal
activities of the Company include manufacturing and supplying of electric equipments
and machineries like alternators, induction generators and DC motors. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
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 8200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Fundamental of the company is decent. Financial position of the
company is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 – 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 BY
|
Name : |
Mr. Ravindra Vajne
|
|
Designation : |
Sales manager |
|
Contact No.: |
91-9990182500 |
|
Date : |
25.03.2014 |
|
Name : |
Mr. Suresh |
|
Designation : |
Accounts manager |
Note :
Mr. Suresh informed
before this company was known as “Leroy Samer India
Private Limted” now known as “Emerson Industrial Automation Electric Power Generation Private Limited”.
LOCATIONS
|
Registered Office : |
No.45, Nagarur, Huskur,
Road, Off Tumkur Road, Bangalore – 562123, Kolkata, India |
|
Tel. No.: |
91-80-23717808 / 67264800 |
|
Mobile No.: |
91-9990182500 (Mr. Ravindra Vajne) |
|
Fax No.: |
Not available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 20.09.2013
|
Name : |
Mrs. Pradipta Sen |
|
Designation : |
Director |
|
Address : |
304, tower – 2, Palms South City 1, Gurgaon
– 122001, Haryana, India |
|
Date of Birth/Age : |
07.10.1958 |
|
Date of Appointment : |
12.02.2009 |
|
DIN No.: |
00051758 |
|
|
|
|
Name : |
Mr. Srinivasan Chandhira
Kumar |
|
Designation : |
Director |
|
Address : |
No. 596, 7th Block West, Jayangara,
Bangalore – 560082, Karnataka, India |
|
Date of Birth/Age : |
20.11.1950 |
|
Date of Appointment : |
29.08.2003 |
|
DIN No.: |
01133240 |
|
|
|
|
Name : |
Mr. Xevier Guy Trenchant |
|
Designation : |
Director |
|
Address : |
35, RUE DELA Brande, LES Mornats,
Fleac – 16730, France |
|
Date of Birth/Age : |
16.08.1951 |
|
Date of Appointment : |
12.02.2009 |
|
Voter ID No.: |
01496105 |
|
|
|
|
Name : |
Mr. Ashok Brij |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 404, Aspen Block, Prestige ST Johns wood, No. 18 and 18a, Chikka Adugodi, Bangalore –
560029, Karnataka, India |
|
Date of Birth/Age : |
30.11.1954 |
|
Date of Appointment : |
12.02.2009 |
|
DIN No.: |
02268872 |
|
|
|
|
Name : |
Mr. Balan Vasant
Kumar |
|
Designation : |
Director |
|
Address : |
No. 473/R, 2nd Floor, A Bolck Parsn Unique Apartment, 4th Street, K K Pudur, Coimbatore
– 641038, Tamil Nadu, India |
|
Date of Birth/Age : |
08.08.1963 |
|
Date of Appointment : |
10.08.2012 |
|
DIN No.: |
06366207 |
|
Name : |
Mr. AtuL Garg |
|
Designation : |
Director |
|
Address : |
666, Pocket A, Sarita Vihar,
New Delhi – 110076, Delhi, India |
|
Date of Birth/Age : |
20.07.1967 |
|
Date of Appointment : |
17.09.2013 |
|
DIN No.: |
06696759 |
KEY EXECUTIVES
|
Name : |
Mr. Ravindra Vajne
|
|
Designation : |
Sales manager |
|
Name : |
Mr. Suresh |
|
Designation : |
Accounts manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2013
|
Names of Shareholders |
No. of Shares |
|
EMR (Mauritius) Limited |
2999999 |
|
Pradipta Sen (Nominee of
EMR (Mauritius) Limited ) |
1 |
|
Total |
3000000 |
AS ON 20.09.2013
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 : |
The principal activities
of the Company include manufacturing and supplying of electric equipments and
machineries like alternators, induction generators and DC motors. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
·
State Bank Of India, Ssi
Branch, Kumara Park,,179, S.C Road, Seshadripuram,,
Bangalore - 560020, Karnataka, India ·
State Bank Of India, Specialised
Mid-Corporate Branch, No. 97,Railway Parallel Road, Kumarapark
West, Bangalore - 560020,Karnataka, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Maruthi,
Info-Tech-Centre,11-12/1 Inner Ring Road,Koramangala,Bangalore-560 071 India |
|
PAN No.: |
AAIFB7355D |
|
|
|
|
Holding company: |
EMR (Mauritius) Limited |
|
|
|
|
Ultimate holding company: |
Emerson Electric Company, U.S.A. |
|
|
|
|
Fellow subsidiaries : |
·
Leroy Somer Electro
Technique (Fuzhou) Co Limited, Fuzhou,
Fujian, China ·
Moteurs Leroy Somer, France ·
Leroy Somer India
Private Limited, Noida, India
(U31200DL1991PTC043306) ·
Control Techniques India Private Limited,
Chennai, India (U30006TN1993PTC025830) ·
Wagner Trident Precision Components Private
Limited, Dharwad, India (U29299KA2007PTC043473) ·
Emerson Electric Company India Private Limited,
Mumbai, India ·
Emerson Electric (Asia) Limited, Hong Kong ·
Emerson Trading Shanghai Company Limited,
Shanghai, China ·
Emerson FZE, Dubai ·
Leroy Somer Elektromekanik Sis, Turkey ·
Emerson (Thailand) Limited, Thailand ·
Leroy Somer, Lexington ·
Leroy Somer, France ·
Leroy Somer (Sea) Pte Ltd, Singapore ·
Emerson OOO, Russia ·
Leroy Somer PTY
Limited, Australia ·
Emerson Climate Technologies, Hong kong |
CAPITAL STRUCTURE
AS ON 20.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
2,003.811 |
1,723.287 |
1,445.187 |
|
(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) |
2,033.811 |
1,753.287 |
1,475.187 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
4.439 |
5.144 |
0.986 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
22.651 |
18.877 |
19.144 |
|
Total
Non-current Liabilities (3) |
27.090 |
24.021 |
20.130 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
559.254 |
441.896 |
337.348 |
|
(c) Other current liabilities |
83.118 |
52.676 |
36.527 |
|
(d) Short-term provisions |
33.301 |
21.692 |
27.797 |
|
Total
Current Liabilities (4) |
675.673 |
516.264 |
401.672 |
|
|
|
|
|
|
TOTAL |
2,736.574 |
2,293.572 |
1,896.989 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
433.504 |
372.738 |
266.896 |
|
(ii) Intangible Assets |
9.417 |
11.989 |
7.526 |
|
(iii) Capital work-in-progress |
34.524 |
9.109 |
11.230 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
208.223 |
114.049 |
86.949 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
685.668 |
507.885 |
372.601 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
444.428 |
264.331 |
203.089 |
|
(c) Trade receivables |
769.367 |
552.349 |
545.204 |
|
(d) Cash and cash equivalents |
751.030 |
926.094 |
752.229 |
|
(e) Short-term loans and
advances |
77.965 |
33.079 |
20.593 |
|
(f) Other current assets |
8.116 |
9.834 |
3.273 |
|
Total
Current Assets |
2,050.906 |
1,785.687 |
1,524.388 |
|
|
|
|
|
|
TOTAL |
2,736.574 |
2,293.572 |
1,896.989 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
3565.910 |
3019.080 |
3024.070 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
3565.910 |
3019.080 |
3024.070 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
|
|
|
|
|
3147.861 |
2604.910 |
2553.090 |
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
418.040 |
414.170 |
470.980 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
137.520 |
136.070 |
156.290 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
280.520 |
278.100 |
314.690 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
42.868 |
24.341 |
17.133 |
|
|
TOTAL EARNINGS |
42.868 |
24.341 |
17.133 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
93.51 |
92.70 |
104.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.87
|
9.21 |
10.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.47
|
18.13 |
24.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.24 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.04
|
3.46 |
3.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
1,145.187 |
1,723.287 |
2,003.811 |
|
Net
worth |
1,175.187 |
1,753.287 |
2,033.811 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
3,024.070 |
3,019.080 |
3,565.910 |
|
|
|
-0.165 |
18.112 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
3,024.070 |
3,019.080 |
3,565.910 |
|
Profit After tax |
314.690 |
278.100 |
280.520 |
|
|
10.41% |
9.21% |
7.87% |
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 |
Yes |
|
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 |
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 |
No |
Note :
The given address has been shifted from No. 48
and 49, Byraveshwara Industrial Estate, Heggana-halli, Andrahalli Main
Road, Bangalore – 560091, Karnataka, India to the present address w.e.f. 09.01.2007.
MANAGEMENT
DISCUSSION AND ANALYSIS
The operation of
the company comprises of A.C. Generators, D.C. Motors and Wind Turbine
Generators. This business segmentation forms the basis for review of
operational performance.
INDUSTRY OVERVIEW
During the year,
global economy witnessed gradual recovery from recession as a result the growth
of the Indian economy is also seen. Both, Central and State Governments
continued to give priority to infrastructure development. The effect of such
investment was notice able in the economy.
This vibrant
economic scenario generated good demand for power. As supply of power was
inadequate and with frequent interruptions, users were required to rely on
standby power from generating sets. The rising living standard in semi-urban
and rural areas is also resulting in demand for generating sets. The industry
will continue to require standby generating sets.
COMPANY
PERFORMANCE
The Turnover of
the Company for the year 2012-13 increased by18% to a level Rs.
3565.910 Millions as against Rs. 3019.080 Millions.
Profit after tax is Rs. 280.520 Millions as against Rs. 278.100 Millions in the Previous Year, an Increase by
0.87%.
FUTURE OUTLOOK
The Company is
confident that propelled by the overall economic growth, the demand for your
Company’s products will increase significantly in the coming years. This can be
sensed by emergence of new entities as well as the order booking that the
Company is receiving. The electricity grids in the country are not in a
position to meet the energy requirements of the growing economy. This leads to
increased demand for captive Gensets. The Directors
believe that the Company will continue to enhance market position as a result
of the following initiatives:
Reaching
new customers and new markets for range of products.
·
Enhanced manufacturing capabilities.
·
Expansion of production capacities.
·
Introduction of LSA range of
alternators.
·
Extended range of successful Alternator
models 2.5 KVA to 2850 KVA.
Focused
vertical integration to enhance the value chain to see timely delivery and
enhance the technological knowledge pool at Company level. Strong, trained,
dedicated and motivated human asset base.
The Company has in
place adequate internal control systems and procedures commensurate with the
size and nature of its business. These procedures are designed to ensure the
following:
· All the assets
and resources are used efficiently and are adequately protected.
· All the internal
control policies and statutory guidelines are complied with.
· The accuracy and
timing of financial reports and management information are kept up.
BACKGROUND
The Company was
incorporated on 20 April 2000 as a Private Limited Company under the Companies
Act, 1956 (the Act). With effect from 12 February 2009, the Company is part of
the USA based Emerson Group. The principal activities of the Company include
manufacturing and supplying of electric equipments and machineries like
alternators, induction generators and DC motors.
NOTE:
No Charges Exist for Company.
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.60.17 |
|
|
1 |
Rs.100.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
58 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.