MIRA
INFORM REPORT
|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
FERROMAT IK MILACRON INDIA PRIVATE LIMITED (w.e.f.
16.12.2010) |
|
|
|
|
Formerly Known
As : |
FERROMATIK MILACRON INDIA LIMITED |
|
|
|
|
Registered
Office : |
53, Madhuban, Near |
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
08.05.1995 |
|
|
|
|
Com. Reg. No.: |
04-0257831 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 268.983 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999GJ1995FTC025783 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC0881D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Plastics Injection Moulding Machines and Blow Moulding
Machines. |
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|
|
|
No. of Employees
: |
540 (Approximately) |
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a 100% subsidiary of “Milacron LLC, USA”. It is a
well-established company having fine track record. The company possesses a favourable financial profile marked by healthy
networth base and conservative capital structure during FY13. Management has witnessed a better increase in its sales volume, with a
track record of profitable operations. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of support from its reputed parentage, the company can be
considered for 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.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
October, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based = A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
October, 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Sameer Parikh |
|
Designation : |
General Manager in Finance |
|
Contact No.: |
91-79-25890081 |
|
Date : |
06.08.2014 |
LOCATIONS
|
Registered Office : |
53, Madhuban, Near Madalpur Underbridge, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
|
Tel. No.: |
91-79-26440331 / 26440331 |
|
Fax No.: |
91-79-26421324 |
|
E-Mail : |
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|
Website : |
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Factory 1 : |
93/2 and 94/1, Phase-I, G.I.D.C. Vatva, Ahmedabad - 382445, Gujarat, India. |
|
Tel. No.: |
91-79-25890081, 25890133, 25830063 |
|
Fax No.: |
91-79-25830125 |
|
|
|
|
Factory 2 : |
Plot No.38/3, 39/1, Phase-I, G.I.D.C. Vatva, Ahmedabad -
382445, Gujarat, India. |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. David Edward Lawrence |
|
Designation : |
Nominee Director |
|
Address : |
22243 Marine Avenue Eastpointe 48021 |
|
Date of Birth/Age : |
15.01.1950 |
|
Date of Appointment : |
29.12.2009 |
|
DIN No.: |
02426697 |
|
|
|
|
Name : |
Mr. Shirish Vasantbhai Divgi |
|
Designation : |
Managing Director |
|
Address : |
A-504, Indraprasth-7, Near Judges Bunglow, Opposite Bodakdev Fire
Station, Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
25.10.1963 |
|
Date of Appointment : |
03.09.2013 |
|
DIN No.: |
06406186 |
|
PAN No.: |
ABWPD4352K |
|
|
|
|
Name : |
Mr. Mahendra N. Patel |
|
Designation : |
Director |
|
Address : |
15, JKairavi Bungalow Near Sarthi Hotel, Vastrapur Road, Bodakdev,
Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
17.01.1949 |
|
Date of Appointment : |
31.05.1995 |
|
DIN No.: |
00104997 |
|
|
|
|
Name : |
Mr. Narasinh K. Balgi |
|
Designation : |
Director |
|
Address : |
B-401, Sumadhur-11, Near Azad Society, Ahmedabad – 380015, Gujarat,
India |
|
Date of Birth/Age : |
01.06.1943 |
|
Date of Appointment : |
05.06.2004 |
|
DIN No.: |
00163468 |
|
|
|
|
Name : |
Mr. John C. Francy |
|
Designation : |
Director |
|
Address : |
814, Tweed Avenue, Cincinnati, Ohio – 45226, USA |
|
Date of Birth/Age : |
24.10.1964 |
|
Date of Appointment : |
10.02.2012 |
|
DIN No.: |
05221251 |
KEY EXECUTIVES
|
Name : |
Mr. Pradip G. Mistry |
|
Designation : |
Secretary |
|
Address : |
Sunglow 16, Sector 1, Kaljaar Bunglows, Shilaj, Ahmedabad – 380058,
Gujarat, India |
|
Date of Birth/Age : |
15.12.1957 |
|
Date of Appointment : |
01.06.1998 |
|
PAN No.: |
AGAPM1318H |
|
|
|
|
Name : |
Mr. Sameer Parikh |
|
Designation : |
General Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Milacron Marketing Company LLC, USA |
|
2689730 |
|
Milacron Marketing Company LLC, USA Jointly with Milacron Plastics
Technologies Group LLC, USA |
|
100 |
|
Total |
|
2689830 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
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 of Plastics Injection Moulding Machines and Blow Moulding
Machines. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Middle East ·
African Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
US ·
China ·
Europe ·
Japan |
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Terms : |
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Selling : |
Cash / L/C / Credit |
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Purchasing : |
Cash / L/C / Credit |
GENERAL INFORMATION
|
Customers : |
OEM’s and Manufacturer ·
Supreme Industries Limited, Mumbai ·
Astral Polytechnik Limited, Ahmedabad |
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No. of Employees : |
540 (Approximately) |
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Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India ·
IDBI Bank Limited, IDBI Complex, Opposite
Municipal Quarters, Off C. G. Road, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
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|
Banking
Relations : |
--- |
|
|
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|
Auditors : |
|
|
Name : |
S. V. Ghatalia and Associates Chartered Accountants |
|
Address : |
Shivalik Ishan Building, Second Floor, Near CN Vidhyalaya
Ambavadi, Ahmedabad – 380015, Gujarat, India |
|
PAN No.: |
AACFS6921Q |
|
|
|
|
Fellow Subsidiary
Company |
· Venezuela, Bolivarian Republic Of · Ferromatik Milacron GmbH · Milacron Equipamentos Plasticos Ltda · Milacron Marketing (Shanghai) Company Limited · Milacron Plastic Machinery (Jiangyin) Company Limited · Milacron Plastic Technologies Group LLC ·
Uniloy Milacron S.R.L. |
|
|
|
|
Ultimate Holding
Company : |
Milacron LLC |
|
|
|
|
Holding Company : |
Milacron Marketing Company LLC |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.100/- each |
Rs.300.000 Millions |
|
1000000 |
Preference Shares |
Rs.100/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2689830 |
Equity Shares |
Rs.10/- each |
Rs.268.983 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 |
268.983 |
268.983 |
268.983 |
|
(b) Reserves & Surplus |
1174.013 |
955.021 |
642.928 |
|
(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) |
1442.996 |
1224.004 |
911.911 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15.000 |
35.000 |
55.000 |
|
(b) Deferred tax liabilities (Net) |
43.123 |
38.530 |
33.491 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
24.186 |
22.902 |
19.295 |
|
Total Non-current Liabilities (3) |
82.309 |
96.432 |
107.786 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
48.037 |
23.956 |
30.192 |
|
(b) Trade payables |
692.400 |
480.491 |
527.261 |
|
(c) Other current
liabilities |
280.613 |
449.501 |
439.352 |
|
(d) Short-term provisions |
263.939 |
79.858 |
70.519 |
|
Total Current Liabilities (4) |
1284.989 |
1033.806 |
1067.324 |
|
|
|
|
|
|
TOTAL |
2810.294 |
2354.242 |
2087.021 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
756.792 |
760.948 |
519.256 |
|
(ii) Intangible Assets |
44.120 |
69.981 |
98.300 |
|
(iii) Capital
work-in-progress |
2.659 |
0.400 |
16.531 |
|
(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 |
40.560 |
44.048 |
56.016 |
|
(e) Other Non-current assets |
0.325 |
1.400 |
0.100 |
|
Total Non-Current Assets |
844.456 |
876.777 |
690.203 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
919.114 |
731.499 |
828.931 |
|
(c) Trade receivables |
475.920 |
312.793 |
191.616 |
|
(d) Cash and cash equivalents |
438.251 |
373.089 |
282.302 |
|
(e) Short-term loans and
advances |
115.562 |
48.311 |
83.196 |
|
(f) Other current assets |
16.991 |
11.773 |
10.773 |
|
Total Current Assets |
1965.838 |
1477.465 |
1396.818 |
|
|
|
|
|
|
TOTAL |
2810.294 |
2354.242 |
2087.021 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
4603.910 |
4067.780 |
3581.290 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
708.980 |
609.780 |
664.770 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.710 |
55.250 |
26.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
687.270 |
554.530 |
638.160 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
102.580 |
90.960 |
66.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
584.690 |
463.570 |
571.980 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
192.620 |
151.480 |
191.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
392.070 |
312.090 |
380.110 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
936.020 |
623.930 |
446.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
40.000 |
0.000 |
202.380 |
|
|
|
Dividend |
147.940 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
25.140 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1115.010 |
936.020 |
623.930 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
145.76 |
116.03 |
141.31 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
5290.000 |
|
|
|
|
|
The above information has been parted by Mr. Sameer Parikh
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.83 |
19.69 |
27.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.38 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.05 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.43 |
1.31 |
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 |
268.983 |
268.983 |
268.983 |
|
Reserves & Surplus |
642.928 |
955.021 |
1174.013 |
|
Net
worth |
911.911 |
1224.004 |
1442.996 |
|
|
|
|
|
|
long-term borrowings |
55.000 |
35.000 |
15.000 |
|
Short term borrowings |
30.192 |
23.956 |
48.037 |
|
Total
borrowings |
85.192 |
58.956 |
63.037 |
|
Debt/Equity
ratio |
0.093 |
0.048 |
0.044 |
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) |
|
Turnover |
3581.290 |
4067.780 |
4603.910 |
|
|
|
13.584 |
13.180 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover |
3581.290 |
4067.780 |
4603.910 |
|
Profit |
380.110 |
312.090 |
392.070 |
|
|
10.61% |
7.67% |
8.52% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
20.000 |
20.000 |
20.000 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
PERFORMANCE OF THE
COMPANY
During the year, company registered 13.18% (Rs.4604.000 millions over Rs.4068.000 millions) growth compared to the sales growth of 13.04% in the previous year. Growth in sales volumes was driven by demand in Packaging and construction segments. The company has registered growth in spite of contraction in demand of capital goods in general and 20% in plastic processing machineries in particular.
Continued high inflation reduced the consumption, slowed down the growth rate of economy during the year. Demand for machinery remained subdued in the previous year. Thus the new business intake remained at 2011-12 level.
Company expanded the customer base to 1412 nos. domestic and 235 nos. exports, having added new customers 208 nos. domestic and 25 nos. export customers.
Company maintained its position as large IMM builder having delivered 3200 Ton Maxima, the largest machine built in the country so far, to leading multinational auto component molder in November 2012.
The company achieved a landmark of delivering 7001st machine during the year.
To meet up the industry expectations, company expanded the energy efficient Nova Servo machine range. The portfolio of the All Electric- Elektron machines was further expanded by adding models 200,275,350 and 450.
Increase in input material cost due to increase in prices of steel, castings, copper and labour kept pressure on margins. The directors are however pleased to report that during the year company has made profit before tax of Rs.584.690 millions as compared to Rs.463.570 millions of previous year.
OPERATIONS
Operations team had taken up focused inventory reduction programme as well as productivity improvement through 5S implementation. Both these initiatives progressing well and are expected to help improving the operational efficiency.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10082606 |
26/08/2011 * |
220,000,000.00 |
BANK OF BARODA |
2ND FLOOR, BANK OF BARODA TOWERS, OPP. LAW GARDEN, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B20604971 |
|
2 |
80010854 |
05/08/2011 * |
220,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B19815232 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Office equipment
· 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 records 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] 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.61.41 |
|
|
1 |
Rs.13.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--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.