|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAIMLER INDIA COMMERCIAL VEHICLES PRIVATE LIMITED (w.e.f. 17.06.2009) |
|
|
|
|
Formerly Known
As : |
DAIMLER INDIA COMMERCIAL VEHICLES LIMITED (w.e.f. 27.05.2009) DAIMLER HERO COMMERCIAL VEHICLES LIMITED (w.e.f. 05.06.2008) FORTIUS MOTOR LIMITED |
|
|
|
|
Registered
Office : |
SIPCOT Industrial Growth Centre, Oragadam, Mathur Post-Sriperumbudur Taluk,
District Kancheepuram – 602105, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.12.2007 |
|
|
|
|
Com. Reg. No.: |
18-072876 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 24177.756 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34200TN2007PTC072876 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHED07527C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF1590N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Motor Vehicles. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 53000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There are accumulated losses recorded by the company. Rating continues
to reflect strong managerial, operational and financial support that receives
from its parent company, Daimler AG. Rating also takes into consideration strong operating capabilities of
the company. Trade relations are reported to be fair. Business is active. Payments
terms are reported to be regular. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
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 |
CRISIL |
|
Rating |
Long Term Rating: “AA” |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
06.02.2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
06.02.2014 |
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 DECLINED
Management Non-Cooperative. (Tel. No.: 91-44-49694000)
LOCATIONS
|
Registered Office : |
SIPCOT Industrial Growth Centre, Oragadam, Mathur Post-Sriperumbudur
Taluk, District Kancheepuram – 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-49694000 |
|
Fax No.: |
91-44-49694881 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Unit 201, 2nd Floor, Campus 3B, RMZ Millennia, Business Park, No.143,
Dr. MGR Road, Perungudi, Chennai – 600096, Tamilnadu, India. |
|
Tel No.: |
91-44-45996000 |
|
Fax No.: |
91-44-42853620 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Stefan Erwin Buchner |
|
Designation : |
Director |
|
Address : |
Eichenweg 9, Tamm-71732, |
|
Date of Birth/Age : |
18.01.1960 |
|
Date of Appointment : |
21.04.2008 |
|
DIN No.: |
02159549 |
|
|
|
|
Name : |
Mr. Albert Xaver Kirchmann |
|
Designation : |
Director |
|
Address : |
Rosenstrasse 10, Ostfildern-73760, |
|
Date of Birth/Age : |
16.12.1956 |
|
Date of Appointment : |
21.04.2008 |
|
DIN No.: |
02159541 |
|
|
|
|
Name : |
Mr. Marc Llistosella Y Bischoff |
|
Designation : |
Managing Director |
|
Address : |
Werastrasse 109 Stuttgart-70190 Germany |
|
Date of Birth/Age : |
12.03.1967 |
|
Date of Appointment : |
11.09.2009 |
|
DIN No.: |
02220265 |
|
|
|
|
Name : |
Mr. Werner Thurner |
|
Designation : |
Director |
|
Address : |
Odenwaldstrabe 4B, Orsteil Leutershausen, Hirschberg Ad, |
|
Date of Birth/Age : |
18.04.1957 |
|
Date of Appointment : |
11.09.2009 |
|
DIN No.: |
02734817 |
|
|
|
|
Name : |
Mr. Matthias Grundler |
|
Designation : |
Director |
|
Address : |
Fohrenweg 9 Alberhausen – 73095 Germany |
|
Date of Birth/Age : |
16.09.1965 |
|
Date of Appointment : |
19.04.2012 |
|
DIN No.: |
05233816 |
|
|
|
|
Name : |
Frank Reintjes |
|
Designation : |
Director |
|
Address : |
Parlerstr 31, Stuttgart, 70192, Germany |
|
Date of Birth/Age : |
23.04.1963 |
|
Date of Appointment : |
18.03.2013 |
|
DIN No.: |
06530269 |
|
|
|
|
Name : |
Wolfgang Ludwing Bernhard |
|
Designation : |
Director |
|
Address : |
Mercedesstr 129, Stuttgart, 70372, Germany |
|
Date of Birth/Age : |
03.09.1960 |
|
Date of Appointment : |
26.06.2013 |
|
DIN No.: |
06607158 |
|
|
|
|
Name : |
Rainer Beckman |
|
Designation : |
Director |
|
Address : |
Hintere Schfstrasse 8, Stutgart, 7059, Germany |
|
Date of Birth/Age : |
07.06.1962 |
|
Date of Appointment : |
26.06.2013 |
|
DIN No.: |
02371676 |
KEY EXECUTIVES
|
Name : |
Mr. Vijayabaskar G |
|
Designation : |
Secretary |
|
Address : |
Plot No.504, New 6 18th Street, 4th Sector, K K
Nagar, Chennai – 600078, Tamilnadu, India |
|
Date of Birth/Age : |
21.09.1979 |
|
Date of Appointment : |
07.09.2012 |
|
Pan No.: |
AFLPV7791R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Daimler AG, |
|
2791828070 |
|
Thirumalai Narayanan |
|
5 |
|
Stefan Buchner |
|
10 |
|
Marc Llistosella Y Bischoff |
|
5 |
|
Vijayabaskar G |
|
5 |
|
Wolfgang Ludwing Bernhard |
|
10 |
|
Parthasarathy Thota |
|
5 |
|
|
|
|
|
Total |
|
2791828110 |
As on: 31.03.2014
|
Names of Allottees |
|
No. of Shares |
|
|
|
|
|
Daimler AG, |
|
933887000 |
|
|
|
|
|
Total |
|
933887000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Motor Vehicles. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st floor, Apollo Mills Compound, N M Joshi
Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
|
PAN No.: |
AAIFB4734C |
|
|
|
|
Holding and
Ultimate holding company: |
· Daimler AG, Germany |
|
|
|
|
Fellow subsidiaries
: |
· Daimler Truck North America LLC, North America (DTNA) · Mercedes Benz Project Consult Gmbh, Germany (MBPC) · Mitsubishi Fuso Truck and Bus Corporation, Japan (MFTBC) · Mercedes Benz Turk A.S., Turkey (MB Turkey) · Mercedes - Benz do Brasil Ltda, Brazil (MB Brasil) · Mercedes Benz India Private Limited, India (MB India) · Daimler South East Asia Pte Limited, Singapore (DSEA) · Daimler Financial Service AG, Germany (DFS AG) · Daimler Financial Services India Private Limited, India (DFS India) · PT Mercedes Benz Distribution, Indonesia (PT Mercedes) · Mercedes Benz Research and Development Private Limited, India (MBRD) · Daimler International Assignment Service, USA (DIAS) · Mercedes Benz SA (Pty) Limited, South Africa (MBSA) · Mercedes Benz US International Inc, USA (MBUS) · Mercedes Benz Passenger Car CA., USA (MB Passenger) · MB Tech Group Gmbh and Company, Germany (MB Tech) · Axle Alliance Company, USA (AAC) · Detroit Diesel Corporation, USA (DDC) · Evobus Gmbh, Germany (Evobus) |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Rs.10/- each |
Rs.30000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2417775610 |
Equity Shares |
Rs.10/- each |
Rs.
24177.756 Millions |
|
|
|
|
|
After: 30.06.2013
Authorised Capital : Rs. 40000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 39359.151
Millions
As on: 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Rs.10/- each |
Rs. 30000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2791828110 |
Equity Shares |
Rs.10/- each |
Rs.
27918.281 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 |
24177.756 |
17256.071 |
10155.348 |
|
(b) Reserves & Surplus |
(12532.148) |
(2374.103) |
(817.557) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
1797.718 |
0.000 |
621.900 |
|
Total Shareholders’ Funds (1) + (2) |
13443.326 |
14881.968 |
9959.691 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
19347.690 |
12291.699 |
4768.851 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
29.805 |
0.000 |
0.000 |
|
(d) long-term
provisions |
184.468 |
101.932 |
41.018 |
|
Total Non-current
Liabilities (3) |
19561.963 |
12393.631 |
4809.869 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
6385.962 |
1800.000 |
1000.000 |
|
(b)
Trade payables |
3434.412 |
1795.024 |
1394.713 |
|
(c)
Other current liabilities |
2267.584 |
2427.407 |
1110.499 |
|
(d) Short-term
provisions |
60.571 |
19.058 |
3.994 |
|
Total Current
Liabilities (4) |
12148.529 |
6041.489 |
3509.206 |
|
|
|
|
|
|
TOTAL |
45153.818 |
33317.088 |
18278.766 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
24313.721 |
2302.901 |
1878.887 |
|
(ii)
Intangible Assets |
6918.896 |
102.131 |
8.651 |
|
(iii)
Capital work-in-progress |
786.579 |
15926.543 |
9920.756 |
|
(iv) Intangible assets under development |
8.669 |
6524.158 |
15.973 |
|
(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 |
2724.144 |
4668.391 |
3373.209 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
24.627 |
|
Total Non-Current
Assets |
34752.009 |
29524.124 |
15222.103 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4817.512 |
613.911 |
392.426 |
|
(c)
Trade receivables |
1410.666 |
438.870 |
596.807 |
|
(d) Cash
and cash equivalents |
843.319 |
479.867 |
944.337 |
|
(e)
Short-term loans and advances |
3326.531 |
2259.946 |
1121.031 |
|
(f)
Other current assets |
3.781 |
0.370 |
2.062 |
|
Total
Current Assets |
10401.809 |
3792.964 |
3056.663 |
|
|
|
|
|
|
TOTAL |
45153.818 |
33317.088 |
18278.766 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(8564.000) |
(1532.000) |
(290.410) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1594.000 |
25.000 |
13.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(10158.000) |
(1557.000) |
(303.790) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
(10158.000) |
(1557.000) |
(303.790) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.63) |
(0.90) |
(0.30) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(22.90) |
(14.33) |
(3.64) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.76) |
(0.10) |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.91 |
0.95 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.86 |
0.63 |
0.87 |
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 |
10155.348 |
17256.071 |
24177.756 |
|
Reserves & Surplus |
(817.557) |
(2374.103) |
(12532.148) |
|
Share Application money
pending allotment |
621.900 |
0.000 |
1797.718 |
|
Net worth |
9959.691 |
14881.968 |
13443.326 |
|
|
|
|
|
|
long-term borrowings |
4768.851 |
12291.699 |
19347.690 |
|
Short term borrowings |
1000.000 |
1800.000 |
6385.962 |
|
Total borrowings |
5768.851 |
14091.699 |
25733.652 |
|
Debt/Equity ratio |
0.579 |
0.947 |
1.914 |
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 |
No |
|
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Term loans from others |
19347.690 |
12291.699 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Term loans from banks |
1275.962 |
0.000 |
|
Working capital loans from banks |
5110.000 |
1800.000 |
|
|
|
|
|
Total |
25733.652 |
14091.699 |
OPERATIONS:
The year had its proud moments which included the inauguration of the state-of-the-art manufacturing facility at Oragadam, technical SOP (Start of Production) with the first truck rolling of the line on June 21st 2012. The year has been instrumental for the Company to deliver on its commitment to the Indian trucking industry and to Daimler Trucks. The manner in which the Indian market has received the Bharat Benz range of trucks is very encouraging considering the economic trend. It only substantiates the brand claim Power ahead wherein their range of trucks powers their customers ahead in their business through differentiated experience and optimal cost of ownership.
During the year, total revenue increased to Rs. 5916.000 Million from Rs. 1553.000 Million in the previous year. The Company has made a loss of Rs. 10158.000 Million after tax, as against a net loss after tax of Rs. 1557.000 Million in the previous year. The accumulated losses of the Company at the end of the financial year ending 31st March 2013 have resulted in erosion of more than fifty percent of its peak networth during the immediately preceding four financial years. The company is taking necessary steps to protect further erosion and will make a report to the Board for Industrial and Financial Reconstruction about such erosion of networth as envisaged under Section 23 of the Sick Industrial Companies (Special Provisions) Act, 1985. However, the parent Company Daimler AG is confident to keep the company viable and improve the financial position and viability of the Company in the years to come. Being the first year of operation with limited models, the losses are within the business plan. The financial situation of the Company will improve in the next years with complete product range and volumes in the market.
Note: No Charges Exist for Company
FIXED ASSETS:
· Land
· Building
· Plant and Equipment
· Furniture and Fixture
· Vehicles
· Motor Vehicles
· Office Equipment’s
· Computers Equipment’s
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. 61.11 |
|
|
1 |
Rs. 102.53 |
|
Euro |
1 |
Rs. 81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.