MIRA
INFORM REPORT
|
Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GE INTELLIGENT PLATFORMS PRIVATE LIMITED (w.e.f.
18.02.2010) |
|
|
|
|
Formerly Known
As : |
GE FANUC SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Building 9, # 43, Electronics City, Hosur Road, Bangalore-560100, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.04.1997 |
|
|
|
|
Com. Reg. No.: |
08-022158 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 493.590 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200KA1997PTC022158 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG00729B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG7573K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of programmable logic controllers, automation
software and related automation products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 940000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow nut correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There are accumulated losses recorded by the company in the year 2013.
However, trade relations 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 – 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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
Management non co-operative (91-80-42515303)
LOCATIONS
|
Registered Office : |
1st Floor, Building 9, # 43, Electronics City, Hosur Road, Bangalore-560100, Karnataka, India |
|
Tel. No.: |
91-80-42515303 / 42515420 |
|
Fax No.: |
91-80-42515305-06 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located At ·
Chennai ·
Hyderabad ·
Kolkata ·
Mumbai ·
New Delhi ·
Pune ·
Vadodara |
DIRECTORS
AS ON 31.07.2013
|
Name : |
Mr. Arvind Kakru |
|
Designation : |
Managing Director |
|
Address : |
C 5, 235, Sector-31, Noida-201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.06.1971 |
|
Date of Appointment : |
28.07.2009 |
|
DIN No.: |
02737674 |
|
|
|
|
Name : |
Mr. Ashok Kumar Dhoot |
|
Designation : |
Director |
|
Address : |
Flat No.302, Keerthi Regent, 2nd
Main Kodohalli, Halli,
Hal 3rd Stage, Bangalore-560008, Karnataka, India |
|
Date of Birth/Age : |
30.08.1977 |
|
Date of Appointment : |
13.06.2013 |
|
DIN No.: |
06616870 |
|
|
|
|
Name : |
Mr. Vineet Jaiswal
|
|
Designation : |
Director |
|
Address : |
Villa No.139, Reliable Lake, Near Vibgyour
International Scheme, Harlur Road,
Bangalore-560034, Karnataka, India |
|
Date of Birth/Age : |
15.12.1974 |
|
Date of Appointment : |
28.11.2012 |
|
DIN No.: |
06443402 |
|
|
|
|
Name : |
Mr. Shankaraprasad Kempanapalya
Ramrao |
|
Designation : |
Director |
|
Address : |
1231, 11th Cross Vidhyapeeta
Circle, Banashankari, 1 Stage, Bangalore-560050,
Karnataka, India |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
30.12.2009 |
|
DIN No.: |
02915402 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.07.2013
|
Names of Shareholders |
No. of Shares |
|
GE Intelligent Platforms Inc., USA |
49059000 |
|
GE Intelligent Platforms Embedded Systems Inc, USA |
300000 |
|
TOTAL
|
49359000 |
AS ON 31.07.2013
|
Equity Shares
Break Up |
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 : |
Manufacturer and Trader of programmable logic controllers, automation software
and related automation products. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Maruthi Info Tech Centre, 11-12/1 Inner Ring
Road, Kormangla, Bangalore, Karnataka, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding Company : |
GE Intelligent Platforms Inc |
|
|
|
|
Ultimate Holding Company : |
General Electric Company |
|
|
|
|
Fellow Subsidiaries : |
·
GE Intelligent Platforms Asia Pacific Pte Limited ·
GE Oil and GAS Inc ·
Advance Systek Limited ·
GE Intelligent Platforms Limited ·
GE Intelligent Platforms Gmbh
and Company KG ·
GE Intelligent Platforms Embedded Systems Inc ·
GE Intelligent Platforms (Shanghai) Company
Limited ·
General Electric International Inc ·
GE Intelligent Platforms, Europe SA ·
GE Infrastructure International LLC ·
GE Water and Process Technologies ·
GE Intelligent Platforms Private Limited ·
Foundation Technology Limited ·
Converteam EDC Private
Limited ·
GE (China) Company Limited ·
GE Fanuc Embedded Systems Inc ·
GE Intelligent Platforms Limited, Edenfield ·
Converteam India Private
Limited CIN No.:- U34300TN2007PTC081587 ·
GE India Export Private Limited CIN No.:- U33130DL2000PTC232915 ·
GE India
Technology Centre Private Limited CIN No.:- U85110KA1999PTC025325 ·
Bhel-Ge Gas Turbine
Services Private Limited CIN No.:- U51505AP1997PTC040657 ·
GE Medical Systems (India) Private Limited CIN No.:- U31909KA2004PTC034146 ·
GE Money Financial Services Private Limited CIN No.:- U65929DL1994PTC116256 ·
GE India Business Services Private Limited CIN No.:- U72900DL1999PTC102432 ·
GE India Industrial Private Limited CIN No.:- U31500DL1992PTC194724 ·
GE Global Sourcing India Private Limited CIN No.:- U74999DL1999PTC206197 ·
GE Capital Services India CIN No.:- U74899DL1993ULL055761 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
Rs.10/- each |
Rs.550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49359000 |
Equity Shares |
Rs.10/- each |
Rs.493.590
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 |
493.590 |
84.150 |
84.150 |
|
(b) Reserves & Surplus |
(257.144) |
(156.649) |
(159.098) |
|
(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) |
236.446 |
(72.499) |
(74.948) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.952 |
4.989 |
6.688 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.00 |
0.000 |
|
(c) Other long term liabilities |
21.096 |
15.624 |
2.817 |
|
(d) long-term provisions |
23.266 |
87.695 |
88.968 |
|
Total Non-current Liabilities (3) |
49.314 |
108.308 |
98.473 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
95.939 |
180.000 |
0.000 |
|
(b) Trade payables |
153.791 |
477.706 |
402.950 |
|
(c) Other current
liabilities |
91.085 |
91.556 |
54.218 |
|
(d) Short-term provisions |
1.195 |
0.784 |
6.995 |
|
Total Current Liabilities (4) |
342.010 |
750.046 |
464.163 |
|
|
|
|
|
|
TOTAL |
627.770 |
785.855 |
487.688 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
34.825 |
19.621 |
20.847 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
3.039 |
0.000 |
|
(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 |
74.522 |
72.223 |
48.353 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
109.347 |
94.883 |
69.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
136.675 |
181.062 |
146.684 |
|
(c) Trade receivables |
281.527 |
289.718 |
202.973 |
|
(d) Cash and cash
equivalents |
7.133 |
90.589 |
4.572 |
|
(e) Short-term loans and
advances |
85.359 |
125.425 |
62.636 |
|
(f) Other current assets |
7.729 |
4.178 |
1.623 |
|
Total Current Assets |
518.423 |
690.972 |
418.488 |
|
|
|
|
|
|
TOTAL |
627.770 |
785.855 |
487.688 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
989.160 |
883.700 |
817.980 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1070.240 |
864.180 |
947.430 |
|
|
|
Purchase of Stock In Trade |
|
|
|
|
|
|
Employee benefits expenses |
|
|
|
|
|
|
TOTAL (B) |
1070.240 |
864.180 |
947.430 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(81.080) |
19.520 |
(129.450) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.480 |
10.700 |
7.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(88.560) |
8.820 |
(136.920) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.930 |
6.370 |
5.510 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
(100.490) |
2.450 |
(142.430) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
4.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(100.490) |
2.450 |
(146.530) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(156.650) |
(159.100) |
(12.570) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(257.140) |
(156.650) |
(159.100) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.04) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(10.16)
|
0.28 |
(17.91) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(16.01)
|
0.31 |
(29.21) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.43)
|
0.03 |
1.90 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.43
|
(2.55) |
(0.09) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52
|
0.92 |
0.90 |
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 |
84.150 |
84.150 |
493.590 |
|
Reserves & Surplus |
-159.098 |
-156.649 |
-257.144 |
|
Net
worth |
-74.948 |
-72.499 |
236.446 |
|
|
|
|
|
|
long-term borrowings |
6.688 |
4.989 |
4.952 |
|
Short term borrowings |
0.000 |
180.000 |
95.939 |
|
Total
borrowings |
6.688 |
184.989 |
100.891 |
|
Debt/Equity
ratio |
-0.089 |
-2.552 |
0.427 |
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 |
817.980 |
883.700 |
989.160 |
|
|
|
8.034 |
11.934 |
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 |
817.980 |
883.700 |
989.160 |
|
Profit / (Loss) |
(146.530) |
2.450 |
(100.490) |
|
|
(17.91%) |
0.28% |
(10.16%) |
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 |
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 |
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 |
Unsecured Loan
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
|
Short Term
Borrowings |
|
|
|
Loans Repayable on Demand |
95.939 |
0.000 |
|
Loans and Advances from Related Parties |
0.000 |
180.000 |
|
|
|
|
|
TOTAL |
95.939 |
180.000 |
VIEW INDEX OF CHARGES
– No charges exits for the company
NOTE
Registered office
has been shifted from 90/B, Electronic City Hosur
Road, 2nd Main Bangalore-561229, Karnataka, India to the present
address w.e.f. 07.07.2010.
BACKGROUND
Subject is a
subsidiary of GE Fanuc Intelligent Platforms Inc., USA. The Company was
incorporated in 1997 as a private limited company. The Company is engaged in
the business of manufacture and trading of programmable logic controllers,
automation software and related automation products.
YEAR IN RETROSPECT
AND YEAR AHEAD
The current
financial year witnessed a growth of11.9% in total revenue at Rs.989.16 Million
(Previous year Rs.883.70 Million). The Net loss for the current year is
Rs100.49 Million as against Net profit of Rs.2.45 Million in the previous year.
Despite the tough
global and Indian economic environment, the company with sustained efforts has
shown growth in the total revenues by 11.9% as compared to the previous year.
In addition, company infused equity of nearly Rs.409 Million ($8MM) from its
parent GE entity, which was duly completed in April, 2012 as it firmly believes
in the long term growth and sustainability of this business in India. This
equity infusion was completed with an objective to ensure that GEIP remains a
local legal entity with positive net worth. During the year 2012-13, the
company was able to repay the loan amounting to Rs.180 Million that it had
borrowed from GE Medical systems in FY 2011-12. This loan repayment helps
company to reduce the debt by a significant amount and have saved upon interest
costs.
The high rates of
domestic inflation, adverse foreign exchange rate movements and slowdown in the
rate of economic growth have had an impact on doing business in India. However,
the company firmly believes in India’s latent potential for economic growth,
opportunities for investments and untapped entrepreneurial energies. The
company believes that India is poised to be one of the growth engines of the
global economy over the next decade and GE Intelligent Platforms is geared to
reap great results on the investments it has made in people, processes,
products and systems. GEIP has embarked on several projects in sectors like
power, oil and gas, metals, metro-rail, food and beverage and automotive to
take advantage of the available growth opportunity. They have invested and will
continue to invest in developing expertize with
innovative products localized to meet Indian requirements in these sectors to
have a long term sustainable growth.
The business has
invested in incremental headcount and support initiatives to get stronger in
these sectors. They have put a strong vertical marketing team in place to map
the investments and create demand generation. Their support functions like
finance, IT and operations have been reinforced to build the systems and
platforms to help commercial teams get more business and execute with finesse.
Their go to market
strategy with their channels have been maturing and they are working more
closely to help with geographical and application coverage. They have been able
to consolidate their power and oil and gas verticals this year and maintain
lead market share in power balance of plant and terminal automation. They have
made significant breakthroughs in new segments like metro-rail, biomass power
plants, safety systems for critical applications and various machinery OEMs.
They now have a dedicated team to manage some of their larger accounts and
relationships to ensure that they provide the best products and service to
their customers when they require it. They have strong orders in pipeline that
will deliver sales in the next financially ear and their sales headcount
investments will pay off to get to a stronger growth target next year.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Furniture and Fixtures
·
Vehicles
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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
31 |
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.