MIRA INFORM REPORT
|
Report Date : |
25.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
STAUFF INDIA
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gate No 2340, Pune-Nagar Road, Wagholi, Pune – 412207, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.02.1997 |
|
|
|
|
Com. Reg. No.: |
11-105994 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.73.584 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1997PTC105994 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Trader and Exporter of Hydraulic Accessories. |
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|
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 296000 |
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|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by low reserves
and thin profitability margin of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings 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 PARTED BY
|
Name : |
Mr. Kedar |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-20-66202487 |
|
Date : |
21.04.2014 |
LOCATIONS
|
Registered Office / Factory : |
Gate No 2340, Pune-Nagar Road, Wagholi, Pune – 412207, Maharashtra,
India |
|
Tel. No. : |
91-20-66202487 |
|
Fax No. : |
91-20-27051567 |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Corporate Office : |
Survey No. 131/1B/3/2, C/o. Akshay Electronics, Near Orchid School, Opposite Sapling Nusery, Ram Indu Park Lane, Mhalunge-Baner Road, Baner, Taluka Haveli, Pune - 411045 Maharashtra, India |
|
Tel. No. : |
91-20-66255300 / 32503003 / 66255303 / 66255305 / 66255304 |
|
Fax No. : |
91-20- 66255301 |
|
|
|
|
Branch 1 : |
A-1, 2, 3 and 4, Mamta Complex, Near ONGC Well, Sarkhej Sanand Road,
Sarkhaj – 382210, Ahmedabad, Gujrat, India
|
|
|
|
|
Branch 2 : |
905-A, Galleria Tower, DLF City, Phase-4, Gurgaon - 122009,
Haryana, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Knut Menshen |
|
Designation : |
Director |
|
Address : |
Hardtweg 3, Olpe – 57462, Germany |
|
Date of Birth/Age : |
28.05.1960 |
|
Date of Appointment : |
08.05.1999 |
|
DIN No. : |
00609490 |
|
|
|
|
Name : |
Lutz Otto Menshen |
|
Designation : |
Director |
|
Address : |
Kantstrabe 3, Neuenrade – 58809, Germany |
|
Date of Birth/Age : |
08.8.1963 |
|
Date of Appointment : |
25.01.2000 |
|
DIN No. : |
00609630 |
|
|
|
|
Name : |
Joerg Deutz |
|
Designation : |
Director |
|
Address : |
Stoecken 22, Lohmar– 53797, Germany |
|
Date of Birth/Age : |
24.02.1966 |
|
Date of Appointment : |
02.03.2011 |
|
DIN No. : |
03404771 |
|
|
|
|
Name : |
Franz Heiner Schmitz |
|
Designation : |
Director |
|
Address : |
Handstrasse 64A, Bergisch Gladbach – 51469, Germany |
|
Date of Birth/Age : |
25.02.1956 |
|
Date of Appointment : |
11.12.2012 |
|
DIN No. : |
06435251 |
|
|
|
|
Name : |
Mr. Bipin Krishnakant Chirmure |
|
Designation : |
Alternate Director |
|
Address : |
Flat no. No. 7, Geetai Apts, Laxminagar, Pimpri Chinchward Link Road,
Punr – 411055, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1969 |
|
Date of Appointment : |
20.10.2011 |
|
PAN No. : |
ACMPC6353Q |
|
DIN No. : |
03623896 |
KEY EXECUTIVES
|
Name : |
Nirupama Dilip Joshi |
|
Designation : |
Secretary |
|
Address : |
4, Nagesh Apartment, Right Bhusari Colony, kothrud, Pune – 411038,
Maharashtra, India |
|
Date of Birth/Age : |
12.07.1968 |
|
Date of Appointment : |
01.06.2010 |
|
PAN No.: |
AODPJ3186R |
|
|
|
|
Name : |
Mr. Kedar |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Stauffenberg Beteiligunge GmbH, Germany |
7358413 |
|
Bipin Krishnakant Chirmure |
1 |
|
|
|
|
Total |
7358414 |
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 |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Hydraulic Accessories. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Germany |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
HDFC Bank, Pune, Maharashtra, India |
|
Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.R. Battiboi and company Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Yerwada (Near Don Bosco School), Pune - 411006, Maharashtra, India |
|
PAN
No. : |
AALFS0506L |
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Ultimate
Holding company: |
² Lukad Holding GmbH and Company KG |
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|
Fellow
Subsidiary company |
² Walter Stauffenberg GMBH and Company ² Stauff Corporation USA ² Stauff UK Limited ² Stauff Corporation Pty Limited ² Stauff Italia S.R.I |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7358414 |
Equity Shares |
Rs.10/- each |
Rs.73.584 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 |
73.584 |
73.584 |
73.584 |
|
(b) Reserves & Surplus |
0.573 |
0.238 |
1.210 |
|
(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) |
74.157 |
73.822 |
74.794 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.169 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.169 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
72.462 |
42.805 |
54.324 |
|
(c) Other
current liabilities |
7.082 |
5.131 |
9.219 |
|
(d) Short-term
provisions |
7.645 |
5.788 |
4.737 |
|
Total Current
Liabilities (4) |
87.189 |
53.724 |
68.280 |
|
|
|
|
|
|
TOTAL |
161.515 |
127.546 |
143.074 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
12.125 |
13.351 |
11.700 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.143 |
0.905 |
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) |
4.381 |
4.570 |
4.034 |
|
(d) Long-term Loan and Advances |
3.799 |
3.390 |
1.637 |
|
(e) Other
Non-current assets |
0.000 |
0.886 |
0.792 |
|
Total Non-Current
Assets |
21.448 |
23.102 |
18.163 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
40.045 |
34.768 |
39.045 |
|
(c) Trade
receivables |
46.787 |
36.295 |
34.405 |
|
(d) Cash
and cash equivalents |
40.990 |
24.017 |
41.417 |
|
(e)
Short-term loans and advances |
10.065 |
5.652 |
7.912 |
|
(f) Other
current assets |
2.180 |
3.712 |
2.132 |
|
Total
Current Assets |
140.067 |
104.444 |
124.911 |
|
|
|
|
|
|
TOTAL |
161.515 |
127.546 |
143.074 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
217.644 |
212.241 |
206.580 |
|
|
|
Other Income |
2.803 |
2.203 |
2.189 |
|
|
|
TOTAL |
220.447 |
214.444 |
208.769 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
211.692 |
208.724 |
191.170 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.755 |
5.720 |
17.599 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.656 |
3.489 |
2.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5.099 |
2.231 |
15.058 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.764 |
3.203 |
3.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.335 |
(0.972) |
12.036 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.04 |
(0.13) |
1.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.15 |
(0.45) |
5.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.34 |
1.05 |
7.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.27 |
1.83 |
10.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.03 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
1.94 |
1.83 |
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 |
73.584 |
73.584 |
73.584 |
|
Reserves & Surplus |
1.210 |
0.238 |
0.573 |
|
Net
worth |
74.794 |
73.822 |
74.157 |
|
|
|
|
|
|
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 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
206.580 |
212.241 |
217.644 |
|
|
|
2.740 |
2.546 |
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 |
206.580 |
212.241 |
217.644 |
|
Profit |
12.036 |
(0.972) |
0.335 |
|
|
5.83% |
(0.46%) |
0.15% |
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
MANAGEMENT DISCUSSION
Development of
national economy:
Economic Policies:
India is struggling with couple of factors such as high inflation and interest rate, slower growth, high current account deficit and record rupee depreciation, which are badly affecting the growth and macro-economic conditions. There is failure to control the depreciation in rupee which has weakened India’s international trade competencies and external debt has also increased. All these reflects policy and governance weaknesses. In contrast to majority of emerging economies, India’s share of manufacturing in GDP has stagnated at around 15 17 per cent for decades and failure to enhance the share was a significant factor in current economic crisis. Share of service sector is around 70 per cent in the GDP and more dependency on service sector may halt growth in long run, if service sector’s growth started to flag. The major policy hurdle to industrial growth have been unreformed rigidities in the labor market, growing impediments to land acquisition and the continuing weaknesses in infrastructure, especially power, roads, railways and ports. India has witnessed GDP growth of 4.4 per cent in first quarter of current fiscal year 2013-14, slowest rate of expansion in four years, as against 4.8 per cent recorded in the previous quarter. Poor performance in the manufacturing and mining sector are mainly responsible for it. On the other hand, interest rate is also not favorable for growth at present, as RBI’s liquidity tightening measures are keeping interest rate on high. A stable rupee will help RBI to ease liquidity in the system, which will eventually lead to cut in the interest rate.
Overall Economic
Prospect:
The overall outlook is bright in the long run but short term situation is not encouraging. WPI Inflation has zoomed to 6.1 per cent in August 2013, compared to 5.8 per cent in July month, due to surge in vegetable prices. It is a matter of concern that India may see reduction in capital flows and possibly even outflows, as US is showing sign of growth, while emerging economies witnessing weakness in the growth. Indian government is expecting GDP to grow in the range of 5 to 5.5 per cent in the fiscal year 2013-14, compared with 5 per cent recorded in the last fiscal year. Government expects that plentiful monsoon rains and growth friendly measures taken by RBI and government recently would help to achieve the growth in current fiscal year 2013-14. The another encouraging factor is that India’s trade deficit has narrowed in august 2013, due to double digit rise in merchandise export, while import has declined.
Currency Movement:
In the fiscal year 2012-13, the Indian currency has depreciated by 6.3% against the US dollar.
Development of the
sector of industry
India’s economic growth hit to decade low of 5 per cent in the fiscal year 2012-13, due to poor performance by almost sectors. Slowdown is largely due to slowdown in manufacturing activity, while weakness in service sector is also clearly visible. Manufacturing sector has witnessed growth of 1.0 per cent, compared to 2.7 per cent registered in the year 2011-12. Fourth quarter data shows that manufacturing, construction and financial services sectors witnessed higher growth compared to previous quarter but still it is a mixture of positive and negative indicators. The sign of relief is that fiscal deficit stood at 4.9 per cent of GDP, compared to revised estimate of 5.2 per cent of GDP.
Development in Global
Market
Developed economy has started improving, while emerging markets are witnessing another round of slowdown. In the next fiscal year 2013-14, Company is expecting improvement in both export and domestic sales.
FIXED ASSETS
œ Leasehold Improvements
œ Plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Office Equipment
œ Computer Equipments
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.102.76 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.