MIRA
INFORM REPORT
|
Report Date : |
13.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
LEONI CABLE SOLUTIONS (INDIA) PRIVATE LIMITED (w.e.f. 05.08.2008) |
|
|
|
|
Formerly Known
As : |
LEONI SPECIAL CABLES (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Indospace Rohan Industrial Park, Gat No. 428, Village, Mahalunge, Off
Chakan – Talegaon Road, Taluka Khed, Pune – 410501, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.01.2006 |
|
|
|
|
Com. Reg. No.: |
149865 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 26.728 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300PN2006PTC149865 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML06223A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL1870F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Wiring and Cable Systems. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. There are accumulated losses recorded by the company which has eroded
net worth of the company. Business is active. Payment terms are slow. The company can be considered for business dealing on a safe and
secured 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.
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 BY
ACCOUNTS DEPARTMENT
(Tel. No.: 91-2135-391600)
LOCATIONS
|
Registered/ Corporate Office/ Factory : |
Indospace Rohan Industrial Park, Gat No. 428, Village, Mahalunge, Off
Chakan – Talegaon Road, Taluka Khed, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-391600 |
|
Fax No.: |
91-2135-391650 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Christian Josef Spies |
|
Designation : |
Additional Director |
|
Address : |
Ziegelhuttenweg 32, Neumarkt I D OPF, Germany 92318 |
|
Date of Birth/Age : |
20.06.1974 |
|
Date of Appointment : |
15.11.2011 |
|
DIN No.: |
05113320 |
|
|
|
|
Name : |
Mr. Ralph Schmidtkunz |
|
Designation : |
Additional Director |
|
Address : |
Sudetenstr 2B, Hilpolstein, Germany |
|
Date of Birth/Age : |
02.09.1975 |
|
Date of Appointment : |
15.11.2011 |
|
DIN No.: |
05113324 |
|
|
|
|
Name : |
Mr. Pushpendra Singh |
|
Designation : |
Managing Director |
|
Address : |
3A, Sorrento Enclave, No. 4 Sardar, Patel Road, Adyar, Chennai - 600020, Tamilnadu, India |
|
Date of Birth/Age : |
21.01.1958 |
|
Qualification : |
B.Sc. and MBA |
|
Date of Appointment : |
04.12.2012 |
|
DIN No.: |
05251462 |
|
|
|
|
Name : |
Mr. Bruno Fankhauser |
|
Designation : |
Additional Director |
|
Address : |
Rebbergstrasse 65, Wollerau, 8832, Switzerland |
|
Date of Birth/Age : |
10.10.1971 |
|
Date of Appointment : |
21.05.2012 |
|
DIN No.: |
05265574 |
|
|
|
|
Name : |
Mr. Wolfgang Losch |
|
Designation : |
Additional Director |
|
Address : |
Forstackerweg 11 A, Belmbrach, Roth, Germany |
|
Date of Birth/Age : |
31.05.1957 |
|
Date of Appointment : |
21.05.2012 |
|
DIN No.: |
05280717 |
KEY EXECUTIVES
|
Name : |
Sanjeev Kumar Maheshwari |
|
Designation : |
Secretary |
|
Address : |
A-302, Regulus, Balewadi, Baner, Pune – 411045, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1967 |
|
Date of Appointment : |
29.08.2012 |
|
PAN No.: |
AFBPM1635B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Leoni Special Cables GmbH, Germany |
10000 |
|
Leoni Kabel Holding GmbH, Germany |
4262800 |
|
Total |
4272800 |
Allottee as on 05.12.2013
|
Names of Allottee |
No. of Shares |
|
Leoni Kabel Holding GmbH, Germany |
7700000 |
|
Total |
7700000 |
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 |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20281124_MIRA%2013-Aug-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Wiring and Cable Systems. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park, Yerwada (Near Don Bosco School), Pune – 411006, Maharashtra, India |
|
Tel. No. : |
91-20-66036000 |
|
Fax No. : |
91-20-66015900 |
|
Income-tax
PAN of auditor or auditor's firm : |
ABSFS4151K |
|
|
|
|
Holding Company : |
Leoni Kabel Holding GmbH |
|
|
|
|
Ultimate Holding Company: |
Leoni AG |
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|
|
|
Fellow Subsidiaries : |
Leoni Cable (Changzhou) Co. Limited Leoni Fibre Optics GmbH Leoni Kable GmbH Leoni Kable Polska Sp. Z.O.O. Leoni Kable Ve Teknologileri Leoni Kerpen GmbH Leoni Special Cables GmbH Leoni Studer AG |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital : Rs.500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.499.728
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26000000 |
Equity Shares |
Rs.10/- each |
Rs.260.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2672800 |
Equity Shares |
Rs.10/- each |
Rs.26.728 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 |
26.728 |
26.728 |
26.728 |
|
(b) Reserves & Surplus |
(129.124) |
(18.419) |
(12.927) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
396.000 |
0.000 |
1.620 |
|
Total
Shareholders’ Funds (1) + (2) |
293.604 |
8.309 |
15.421 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.003 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.698 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
0.698 |
0.003 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
61.403 |
4.371 |
0.086 |
|
(c) Other current
liabilities |
85.423 |
0.362 |
2.116 |
|
(d) Short-term provisions |
1.567 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
148.393 |
4.733 |
2.202 |
|
|
|
|
|
|
TOTAL |
442.695 |
13.045 |
17.623 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5.258 |
0.407 |
0.105 |
|
(ii) Intangible Assets |
0.092 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
109.569 |
0.000 |
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 |
0.005 |
|
(d) Long-term Loan and Advances |
202.372 |
0.436 |
0.436 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
317.291 |
0.843 |
0.546 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
93.140 |
0.081 |
0.000 |
|
(c) Trade receivables |
3.907 |
0.116 |
0.170 |
|
(d) Cash and cash
equivalents |
0.000 |
11.553 |
16.795 |
|
(e) Short-term loans and
advances |
28.357 |
0.452 |
0.000 |
|
(f) Other current assets |
0.000 |
0.000 |
0.112 |
|
Total Current Assets |
125.404 |
12.202 |
17.077 |
|
|
|
|
|
|
TOTAL |
442.695 |
13.045 |
17.623 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Gross Sales |
|
7.131 |
2.173 |
|
|
|
Other Income |
|
1.251 |
1.262 |
|
|
|
TOTAL (A) |
15.234 |
8.382 |
3.435 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Administrative and Management Expenses |
|
9.699 |
4.382 |
|
|
|
Cost of Sales |
|
4.09 |
1.483 |
|
|
|
TOTAL (B) |
117.470 |
13.789 |
5.865 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(102.236) |
(5.407) |
(2.430) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.223 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(111.459) |
(5.407) |
(2.430) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.867 |
0.076 |
0.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(112.326) |
(5.483) |
(2.461) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.622) |
0.009 |
(0.003) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(110.704) |
(5.492) |
(2.458) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(18.419) |
(12.927) |
(10.469) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(129.123) |
(18.419) |
(12.927) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
64.062 |
0.000 |
NA |
|
|
|
Traded Goods |
20.127 |
4.090 |
NA |
|
|
|
Capital Goods |
79.653 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
163.842 |
4.090 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(41.42) |
(2.05) |
(0.92) |
|
%20PRIVATE%20LIMITED%20-%20281124_MIRA%2013-Aug-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20281124_MIRA%2013-Aug-2014_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(726.69) |
(65.52) |
(71.56) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(76.89) |
(113.25) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(33.72) |
(42.03) |
(13.97) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.38) |
(0.66) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85 |
2.58 |
7.76 |
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 |
26.728 |
26.728 |
26.728 |
|
Reserves & Surplus |
(12.927) |
(18.419) |
(129.124) |
|
Share Application money
pending allotment |
1.620 |
0.000 |
396.000 |
|
Net
worth |
15.421 |
8.309 |
293.604 |
|
|
|
|
|
|
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 |
%20PRIVATE%20LIMITED%20-%20281124_MIRA%2013-Aug-2014_files/image006.gif)
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) |
|
Total Income |
3.435 |
8.382 |
15.234 |
|
|
|
144.017 |
81.747 |
%20PRIVATE%20LIMITED%20-%20281124_MIRA%2013-Aug-2014_files/image008.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
3.435 |
8.382 |
15.234 |
|
Profit |
(2.458) |
(5.492) |
(110.704) |
|
|
(71.56%) |
(65.52%) |
(726.69%) |
%20PRIVATE%20LIMITED%20-%20281124_MIRA%2013-Aug-2014_files/image010.gif)
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 |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CORPORATE INFORMATION
The company was incorporated on January 31, 2006 and registered under Indian Companies Act, 1956. The company is a subsidiary of LEONI Kable Holdings GmbH. The company is engaged in the manufacturing and sale of wiring and cable systems. The company has started its manufacturing facility at Chakan, near Pune in current financial year.
OPERATIONS:
The total revenue for the year is Rs
15.230 million compared to Rs 8.380 million in the
previous year, with a growth of 81 % as compared
to previous year. The Directors are continuously looking for avenues for future
growth of the Company in Cable industry. The Loss before Tax during the year is
Rs. 110.700 million as compared to Rs 5.490 million in the previous year.
FUTURE OUTLOOK:
LEONI Group persists with its globalization strategy by expanding its
business in India. During the year, the
Company started work for set up of its Greenfield cable manufacturing factory at Chakan near Pune. The set of this new plant is to serve better local
customers from different industries with cables and cable systems.
The establishment of the plant brings advantages such as better
logistics conditions, the usage of local cost structures and the avoidance of
import duties. The new plant has a total area of around
17,000 square meters and during the end of the year the Company started the
manufacturing of standard cables for the fast growing automotive industry.
In the future the Company will also commence local production of cables
and cable systems for the renewable
energy market in order to serve the rising demand in this field. The company
will offer a wide range of power and control cables for
photovoltaic and solar power plants as well as wind turbines. Furthermore, the
company will locally produce standard cables, application-specific special
cables, ready-to-connect assembled cables, sub-systems as well as complete
system solutions for rail vehicles such as high-speed trains,
locomotives, trams, metros and cargo railcars.
The new facility will also make cables for critical applications in oil
and gas, petrochemicals, power plants, water treatment
and other process industries. The Company also plans to export such products to
other countries.
FIXED ASSETS
· Office Equipments
Furniture
and Fixtures
Computers
Vehicles
Computer
Software
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.61.18 |
|
|
1 |
Rs.102.56 |
|
Euro |
1 |
Rs.81.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.