MIRA
INFORM REPORT
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Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
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Name : |
BOHLER-UDDEHOLM INDIA LIMITED (w.e.f. 20.02.2014) |
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Formerly Known
As : |
UDDEHOLM ASSAB INDIA LIMITED (w.e.f. 29.05.2013) ASSAB SRIPAD STEELS LIMITED(w.e.f. 21.06.2005) ASSAB SRIPAD STEELS PRIVATE LIMITED |
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Registered
Office : |
No.3, Easwaran Salai, Off Thangavelu Engineering College Road,
Karapakkam, Chennai -600097, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.04.1994 |
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Com. Reg. No.: |
18-027211 |
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Capital
Investment / Paid-up Capital : |
Rs. 32.100 Millions |
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CIN No.: [Company Identification
No.] |
U51909TN1994PLC027211 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA02620C |
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PAN No.: [Permanent Account No.] |
AAACA3076F |
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Legal Form : |
A Closely Held Pubic Limited Liability Company |
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Line of Business
: |
The Company is
engaged in the business of importing and stocking of ferrous and non-ferrous
steel, cutting them based on size requirements of customers and sale of such
steel and also in providing heat treatment services. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 580000 |
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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. The company has incurred loss from its operational activities during
financial year 2013. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some caution.
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
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 DENIED BY
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Name : |
Mr. Sanjay Sawant |
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Designation : |
Sales Manager |
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Contact No.: |
91-9821090532 |
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Date : |
11.08.2014 |
LOCATIONS
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Registered Office / Branch Office 1: |
No.3, Easwaran Salai, Off Thangavelu Engineering College Road,
Karapakkam, Chennai -600097, Tamilnadu, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9821090532 (Mr. Sanjay Sawant) 91-9324150695 (Mr. P.N Krishnaswamy) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Branch Office 2 : |
Sri Laxmi, Survey No.101 to 107, Kone Savle Road, Village Deololi, |
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Branch Office 3 : |
Plot no 46/A, IDA Kukatpally, Ranga Reddy Nagar,
Gandhinagar, Hyderabad-500 037, Andhra Pradesh, India |
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Sales Offices :
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Plot no. C-19, UPSIDC
Industrial Estate, Surajpur, Greater Noida -201306, Uttar Pradesh, India |
DIRECTORS
AS ON 30.09.2013
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Name : |
Mr. Franz Georg Auer |
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Designation : |
Director |
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Address : |
Hackenbergweg 53, Vienna 1190, Austria |
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Date of Birth/Age : |
24.05.1960 |
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Date of Appointment : |
12.06.2003 |
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DIN No. : |
01502370 |
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Other Directorship :
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Name : |
Heinrich Mag Glatz |
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Designation : |
Director |
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Address : |
Hauptstrasse 155, Hohe Wand Stollhof, 2724, Austria |
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Date of Birth/Age : |
09.12.1953 |
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Date of Appointment : |
06.09.2011 |
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DIN No. : |
01502395 |
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Other Directorship :
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Name : |
Mr. Alok Jhamb |
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Designation : |
Managing director |
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Address : |
Flat No.1102 and 1103, Floor No. 11, Tulip Regency, Garden, Plot No.
10, Sector – 6, Kharghar, Navi Mumbai – 410210, Maharashtra, India |
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Date of Birth/Age : |
16.11.1970 |
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Date of Appointment : |
30.09.2013 |
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DIN No. : |
02279108 |
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Other Directorship :
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Name : |
Wolfgang Kurbisch |
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Designation : |
Director |
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Address : |
Bruckerstrasse 106, Oberaich, 8600, Austria |
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Date of Birth/Age : |
14.07.1959 |
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Date of Appointment : |
30.09.2013 |
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DIN No. : |
05294215 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Sanjay Sawant |
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Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
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Names of Shareholders |
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No. of Shares |
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Voestalpine Edelstahl GmbH, Austria |
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320994 |
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Herbert Belada, (Beneficial interest declared in favour of Voestalpine
Edelstahl GmbH), Austria |
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1 |
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Silvia Platteis (Beneficial interest declared in favour of Voestalpine
Edelstahl GmbH), Austria |
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1 |
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Manfred Hinterdorfer, (Beneficial interest declared in favour of
Voestalpine Edelstahl GmbH), Austria |
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1 |
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Reinhard Retzl (Beneficial interest declared in favour of Voestalpine
Edelstahl GmbH) |
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1 |
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Wolfgang Fugger (Beneficial interest declared in favour of Voestalpine
Edelstahl GmbH), Austria |
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1 |
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Sabine Kelmayr – Tippow (Beneficial interest declared in favour of
Voestalpine Edelstahl GmbH), Austria |
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1 |
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Total |
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321000 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage of Holding |
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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 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is
engaged in the business of importing and stocking of ferrous and non-ferrous steel,
cutting them based on size requirements of customers and sale of such steel
and also in providing heat treatment services. |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management. |
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Bankers : |
·
Bank of Baroda, M.R.C. Nagar, Madras - 600028,
Tamilnadu, India ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B S R and Company Chartered Accountants |
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Address : |
No. 10, Mahatma Gandhi Road, Nungambakkam, Chennai – 600034,
Tamilnadu, India |
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PAN No.: |
AAAFB9852F |
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Ultimate Holding Company : |
Voestalpine AG |
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Holding Company
: |
Voestalpine Edelstahl GmbH, Austria (formerly known as Bohler-Uddeholm AG) |
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Fellow Subsidiary : |
·
Assab International AB, Sweden ·
Bohler-Uddeholm Precision Strip AB ·
Uddeholm AB, Sweden ·
Assab Pacific Private Limited, Singapore |
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Others (Enterprises over which Key Management
Personnel are able to exercise control) : |
·
Sri pad Steels Private Limited ·
Orient Impex |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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321000 |
Equity Shares |
Rs.100/- each |
Rs.32.100 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
32.100 |
32.100 |
32.100 |
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(b) Reserves & Surplus |
112.799 |
116.396 |
105.906 |
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(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
144.899 |
148.496 |
138.006 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
0.339 |
8.378 |
31.232 |
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(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
1.582 |
1.445 |
1.141 |
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Total
Non-current Liabilities (3) |
1.921 |
9.823 |
32.373 |
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(4) Current Liabilities |
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(a) Short term borrowings |
115.334 |
112.890 |
90.526 |
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(b) Trade payables |
281.103 |
287.064 |
264.980 |
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(c) Other current liabilities |
22.678 |
34.250 |
37.058 |
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(d) Short-term provisions |
1.625 |
7.662 |
3.451 |
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Total
Current Liabilities (4) |
420.740 |
441.866 |
396.015 |
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TOTAL |
567.560 |
600.185 |
566.394 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
110.009 |
129.497 |
145.144 |
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(ii) Intangible Assets |
0.254 |
0.402 |
0.606 |
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(iii) Capital work-in-progress |
91.605 |
44.519 |
32.055 |
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(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
9.387 |
6.067 |
5.812 |
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(d) Long-term Loan and Advances |
5.898 |
14.442 |
14.089 |
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(e) Other Non-current assets |
0.028 |
0.025 |
0.025 |
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Total
Non-Current Assets |
217.181 |
194.952 |
197.731 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
245.357 |
270.919 |
252.749 |
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(c) Trade receivables |
95.033 |
121.265 |
98.186 |
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(d) Cash and cash equivalents |
4.402 |
5.729 |
10.118 |
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(e) Short-term loans and
advances |
1.689 |
3.657 |
5.607 |
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(f) Other current assets |
3.898 |
3.663 |
2.003 |
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Total
Current Assets |
350.379 |
405.233 |
368.663 |
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TOTAL |
567.560 |
600.185 |
566.394 |
PROFIT & LOSS
ACCOUNT
|
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PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Revenue from operations |
538.110 |
558.080 |
512.960 |
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Other Income |
0.274 |
0.145 |
0.066 |
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TOTAL
|
538.384 |
558.225 |
513.026 |
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Less |
EXPENSES |
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|
|
|
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Purchases of Stock-in-Trade |
368.165 |
422.529 |
397.679 |
|
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Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
22.477 |
(17.308) |
(48.311) |
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Employees benefits expense |
34.941 |
31.190 |
29.890 |
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Other expenses |
81.168 |
65.971 |
67.414 |
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TOTAL
|
506.751 |
502.382 |
446.672 |
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|
|
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Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
31.633 |
55.843 |
66.354 |
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
16.084 |
18.242 |
16.528 |
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|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.549 |
37.601 |
49.826 |
|
|
|
|
|
|
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Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
21.418 |
21.609 |
21.328 |
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|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(5.869) |
15.992 |
28.498 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
(2.272) |
5.502 |
2.142 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
(3.597) |
10.490 |
26.356 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Commission Income |
1.722 |
2.394 |
2.763 |
|
|
TOTAL
EARNINGS |
1.722 |
2.394 |
2.763 |
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
Traded Goods |
318.587 |
344.103 |
303.227 |
|
|
TOTAL
IMPORTS |
318.587 |
344.103 |
303.227 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(11.21) |
32.68 |
82.11 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.67) |
1.88 |
5.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.09) |
2.87 |
5.56 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(1.26) |
2.91 |
5.39 |
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
0.11 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.79 |
0.81 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.83 |
0.92 |
0.93 |
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 |
32.100 |
32.100 |
32.100 |
|
Reserves & Surplus |
105.906 |
116.396 |
112.799 |
|
Net
worth |
138.006 |
148.496 |
144.899 |
|
|
|
|
|
|
long-term borrowings |
31.232 |
8.378 |
0.339 |
|
Short term borrowings |
90.526 |
112.890 |
115.334 |
|
Total
borrowings |
121.758 |
121.268 |
115.673 |
|
Debt/Equity
ratio |
0.882 |
0.817 |
0.798 |
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) |
|
Revenue from operations |
512.960 |
558.080 |
538.110 |
|
|
|
8.796 |
(3.578) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
512.960 |
558.080 |
538.110 |
|
Profit/(Loss) After Tax |
26.356 |
10.490 |
(3.597) |
|
|
5.14% |
1.88% |
(0.67%) |
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 |
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE :
The registered office of the company has been shifted from Padmalaya
Towers, Janaki Avenumrc Nagar Madras 28, MRC Nagar Madras 28, MRC Nagar Madras 28,
Madras – 600028, Tamilnadu, India to the present address w.e.f. 22.04.2013.
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90292543 |
19/06/2003 * |
1,940,000.00 |
BANK OF BARODA |
M.R.C. NAGAR,
CHENNAI, TAMILNADU - 600028, INDIA |
- |
|
2 |
90293547 |
13/12/2003 * |
1,940,000.00 |
BANK OF BARODA |
M.R.C. NAGAR,
CHENNAI, TAMILNADU - 600028, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term loans from Bank |
0.000 |
7.834 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on
demand |
|
|
|
Cash Credit from Bank |
115.334 |
112.890 |
|
Total |
115.334 |
120.724 |
|
|
|
|
|
NOTE : LONG TERM BORROWINGS The term loan
from bank represents Indian rupee term loan. Term loan from HDFC
Bank during the year 2007- 2008 carries interest rate of 12.50% p.a. is
repayable in 56-60 monthly installments. Term Loans are guaranteed by Standby
Letter of Credit issued by Raiffeisenlandesbank Oberosterreich AG on behalf
of Voestalpine Edelstahl GmbH( formally known as Bohler-Uddeholm AG),
Austria. Term loan from
HDFC Bank during the year 2008- 2009 carries interest rate of 12.50% p.a. is
repayable in 60 monthly installments. Term Loans are guaranteed by Standby
Letter of Credit issued by Raiffeisenlandesbank Oberosterreich AG on behalf
of Voestalpine Edelstahl GmbH( formally known as Bohler-Uddeholm AG),
Austria. SHORT TERM
BORROWINGS Cash credit
facilities from HDFC bank carry interest rate of 12% p.a., computed on a
monthly basis on the actual amount utilised, and are repayable on demand.
Cash credits are guaranteed by Standby Letter of Credit issued by
Raiffeisenlandesbank Oberosterreich AG on behalf of Voestalpine
Edelstahl GmbH (formally known as Bohler
Uddeholm AG) |
||
BUSINESS REVIEW
Inspite of the
poor the economic growth and sluggish growth in the automotive industry, the
company's sales has dipped by 4% only with the Sales turnover of INR 538
Million. On account of the negative growth they have incurred a loss of INR 3.6
Million.
They are still the
market leaders in the premium hot work segment. With a strong technical
department, they are in a position to provide better service to their
customers.
Both the heat
treatment facilities at Chennai and Panvel with two vacuum heat treatment
furnaces each, the Company is able to cater to the heat treatment needs of the
customers. The management is also taking all efforts
to increase the
capacity utilization of the furnaces.
They have taken measures
like planned purchase, in order to reduce the inventories including short ends
and slow movers.
The Directors are
very positive about the future growth of the Company.
BACKGROUND
The Company was
incorporated on April 5, 1994 under the provisions of the Companies Act,
1956. The Company is a subsidiary ofVoestalpine Edelstahl GmbH which holds 70%
of the shares of the Company and balance held by Sripad Steels Private Limited.
Subsequent to the balance sheet date, Voestalpine Edelstahl GmbH bought the 30
% shares held by Sripad Steels Private Limited and its nominee shareholders.
Consequent to the change in the shareholding, the name of the Company was
changed from Assab Sripad Steels Limited to Uddeholm ASSAB India Limited and a
fresh certificate of incorporation has been obtained. The Company is engaged in
the business of importing and stocking of ferrous and non-ferrous steel,
cutting them based on size requirements of customers and sale of such steel and
also in providing heat treatment services.
FIXED ASSETS
·
Plant and machinery
·
Computers
·
Office equipment
·
Furniture and fixtures
·
Electrical installation and fittings
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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] 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.61.25 |
|
|
1 |
Rs.103.02 |
|
Euro |
1 |
Rs.81.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
28 |
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.