MIRA
INFORM REPORT
|
Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
L&T - MHPS TURBINE GENERATORS PRIVATE LIMITED (w.e.f. 26.06.2014) |
|
|
|
|
Formerly Known
As : |
L&T - MHI TURBINE GENERATORS PRIVATE LIMITED (w.e.f. 22.11.2007) L&T TURBO GENERATOR PRIVATE LIMITED |
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|
Registered
Office : |
L and T House, Ballard Estate, Mumbai – 400001, |
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Country : |
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|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.12.2006 |
|
|
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|
Com. Reg. No.: |
11-166541 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3406.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31101MH2006PTC166541 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL2729F |
|
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|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
To carry on the business to design, engineer, manufacture and sell
Super Critical Turbines and Generators.
|
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4748000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Larsen and Toubro Limited. IT is a well-established and reputed company having moderate track
record. The company has recorded some accumulated losses. However, the company
receives strong and operational and Financial support from its group
companies. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. In view of experienced promoters, the company can be considered for
business dealings with slight caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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.
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
Management Non Co-Operative (91-22-67525656)
LOCATIONS
|
Registered Office : |
L and T House, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-67525656 |
|
Fax No.: |
91-22-67525893 |
|
E-Mail : |
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|
Factory : |
Gate No. 8, Hazira Works Surat Hazira Road P. O. Bhatha - 394510
Gujarat, India |
DIRECTORS
As on: 05.08.2013
|
Name : |
Yozaburo Mabuchi |
|
Designation : |
Director |
|
Address : |
2-33-13, Shiroyamadai, Nagasaki-Shi, Nagasaki-Ken, Nagasaki, Japan |
|
Date of Birth/Age : |
04.10.1951 |
|
Date of Appointment : |
23.12.2008 |
|
DIN No.: |
01585780 |
|
|
|
|
Name : |
Masayuki Kubo |
|
Designation : |
Director |
|
Address : |
3-4-4-501 Kamioooka-Nishi, Konan-Ku, Yokohama-Shi, Kanagawa-Ken, Japan |
|
Date of Birth/Age : |
15.08.1952 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
01585730 |
|
|
|
|
Name : |
Hideshi Kawamoto |
|
Designation : |
Director |
|
Address : |
Koudagou,1196-135 Nagayocho, Nishisonokigun |
|
Date of Birth/Age : |
07.02.1962 |
|
Date of Appointment : |
05.08.2013 |
|
DIN No.: |
05256959 |
|
|
|
|
Name : |
Mr. Subrat Kumar Das |
|
Designation : |
Whole-Time Director |
|
Address : |
No. 52, Ashirwad Bunglows, Near Rajhans Cinema, Dumas Road, Surat –
395007, Gujarat, India |
|
Date of Birth/Age : |
17.03.1952 |
|
Date of Appointment : |
22.05.2012 |
|
DIN No.: |
05283783 |
|
|
|
|
Name : |
Mr. Shailendra Roy Narain |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Flat No. 603.604, Kalpana, Opposite Ramakrishna, Mission Hospital,
11th Road, Khar – West, Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
18.09.1952 |
|
Date of Appointment : |
30.08.2012 |
|
DIN No.: |
02144836 |
|
|
|
|
Name : |
Mitsuyoshi Tsuchiya |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
1-2-20-802, Rikyuunishimati, Suma-Ward, Kobe City |
|
Date of Birth/Age : |
26.03.1958 |
|
Date of Appointment : |
10.10.2013 |
|
DIN No.: |
06711159 |
|
|
|
|
Name : |
Mr. Sunil Rameshchandra Pande |
|
Designation : |
Director |
|
Address : |
703, Sovereign Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra,
India |
|
Date of Birth/Age : |
13.08.1950 |
|
Date of Appointment : |
05.08.2013 |
|
DIN No.: |
03060968 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 05.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mitsubishi Heavy Industries Limited, Japan |
|
152434000 |
|
Mitsubishi Electric Corporation, Japan |
|
34060000 |
|
Larsen and Toubro Limited, India |
|
194106000 |
|
|
|
|
|
Total |
|
380600000 |
Equity Share Break up (Percentage of Total Equity)
As on: 05.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.00 |
|
Bodies corporate |
|
51.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business to design, engineer, manufacture and sell Super
Critical Turbines and Generators. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|||||||||||||||
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Bankers : |
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Ravindra Annexe 194, Churchgate, Reclamation, Dinshaw, Vachha Road, Mumbai – 400020, Maharashtra, India |
|
PAN No.: |
AAAFS2967E |
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|
|
|
Other Related Parties : |
· Mitsubishi Electric India Private Limited U51909DL2010FTC227827 · Mitsubishi Heavy Industries India Private Limited U29299DL2005PTC133062 · Mitsubishi Power Systems India Private Limited U29292DL2011FTC225628 |
|
|
|
|
Holding Company : |
· Larsen and Toubro Limited L99999MH1946PLC004768 |
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|
|
|
Joint Venture : |
· Mitsubishi Heavy Industries Limited · Mitsubishi Electric Corporation |
|
|
|
|
Fellow Subsidiary
company : |
· Larsen and Toubro Infotech Limited U72900MH1996PLC104693 · L and T - MHI Boilers Private Limited U29119MH2006PTC165102 · Land T Special Steels And Heavy Forgings Private Limited U27109MH2009PTC193699 · L and T Howden Private Limited U31401MH2010PTC204403 · EWAC Alloys Limited U74999MH1962PLC012315 · L and T-Valdel Engineering Limited U74210KA2004PLC035094 |
CAPITAL STRUCTURE
As on: 05.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
390000000 |
Equity Shares |
Rs.10/- each |
Rs.3900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
380600000 |
Equity Shares |
Rs.10/- each |
Rs.3806.000 Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
390000000 |
Equity Shares |
Rs.10/- each |
Rs.3900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340600000 |
Equity Shares |
Rs.10/- each |
Rs.3406.000 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 |
3406.000 |
2501.000 |
2501.000 |
|
(b) Reserves & Surplus |
(2218.840) |
(1172.005) |
(955.990) |
|
(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) |
1187.160 |
1328.995 |
1545.010 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9577.333 |
8707.283 |
5268.407 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
9577.333 |
8707.283 |
5268.407 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3476.947 |
1652.756 |
0.000 |
|
(b) Trade payables |
11866.059 |
12591.570 |
9615.340 |
|
(c) Other current liabilities |
3404.392 |
3787.701 |
4938.441 |
|
(d) Short-term provisions |
66.708 |
677.527 |
532.861 |
|
Total
Current Liabilities (4) |
18814.106 |
18709.554 |
15086.642 |
|
|
|
|
|
|
TOTAL |
29578.599 |
28745.832 |
21900.059 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10126.201 |
6891.293 |
4969.653 |
|
(ii) Intangible Assets |
147.776 |
147.030 |
157.308 |
|
(iii) Capital work-in-progress |
1694.421 |
2298.789 |
1620.489 |
|
(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) |
577.947 |
577.999 |
0.000 |
|
(d) Long-term Loan and Advances |
143.563 |
370.996 |
1472.739 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
12689.908 |
10286.107 |
8220.189 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
312.159 |
|
(b) Inventories |
1326.515 |
247.956 |
51.208 |
|
(c) Trade receivables |
9782.999 |
5910.980 |
1528.362 |
|
(d) Cash and cash equivalents |
(83.667) |
0.303 |
129.056 |
|
(e) Short-term loans and
advances |
1798.160 |
1375.650 |
3220.256 |
|
(f) Other current assets |
4064.684 |
10924.836 |
8438.829 |
|
Total
Current Assets |
16888.691 |
18459.725 |
13679.870 |
|
|
|
|
|
|
TOTAL |
29578.599 |
28745.832 |
21900.059 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
10350.400 |
12274.400 |
|
|
|
Other Income |
(427.100) |
49.400 |
|
|
|
TOTAL
(A) |
9923.300 |
12323.800 |
11352.367 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL
(B) |
9595.800 |
11928.100 |
11503.805 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
327.500 |
395.700 |
(151.438) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
619.000 |
732.700 |
39.639 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(291.500) |
(337.000) |
(191.077) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
603.100 |
412.300 |
94.119 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(894.600) |
(749.300) |
(285.196) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(894.600) |
(749.300) |
(285.196) |
|
|
|
|
|
|
|
Less/ Add |
Provision for Deferred Tax |
0.000 |
578.000 |
0.000 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
(2044.800 |
(1150.200 |
(978.837 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
111.700 |
4.800 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2.95) |
(0.69) |
(1.80) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(9.02) |
(6.08) |
(2.51) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.64) |
(6.10) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.28) |
(2.90) |
(1.41) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.75) |
(0.56) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
11.00 |
7.80 |
3.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
0.99 |
0.91 |
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 |
2501.000 |
2501.000 |
3406.000 |
|
Reserves & Surplus |
(955.990) |
(1172.005) |
(2218.840) |
|
Net
worth |
1545.010 |
1328.995 |
1187.160 |
|
|
|
|
|
|
long-term borrowings |
5268.407 |
8707.283 |
9577.333 |
|
Short term borrowings |
0.000 |
1652.756 |
3476.947 |
|
Total
borrowings |
5268.407 |
10360.039 |
13054.280 |
|
Debt/Equity
ratio |
3.410 |
7.795 |
10.996 |
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 |
11352.367 |
12323.800 |
9923.300 |
|
|
|
8.557 |
(19.479) |
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 |
11352.367 |
12323.800 |
9923.300 |
|
Profit |
(285.196) |
(749.300) |
(894.600) |
|
|
(2.51%) |
(6.08%) |
(9.02%) |
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 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Term loans from others |
9577.333 |
8707.283 |
|
|
|
|
|
Total |
9577.333 |
8707.283 |
FINANCIALS AND
PERFORMANCE OF THE COMPANY
The financial year 2012-13 has been one of the challenging years for the Company. The combined effect of general economic slowdown along with the problems faced by the power sector has impacted the performance of the Company. The Company was not able to meet order inflow targets for the year for reasons beyond its control, consequently the revenue has reduced by 15.7% compared to previous year. However, the Company has made a good progress in completing the major portion of the existing customer projects. Due to sustained effort from the Management to remain competitive in the market has resulted in improvements in the manufacturing processes and the Supply chain initiative, the Company is able to achieve significant improvement in Operating Margin. However, mark-to-market loss (MTM) on term loans has resulted in bringing down the margin significantly during the year.
The Company has fully completed the manufacturing facility including the Heavy Casting Unit establishment at Hazira, Surat. The Company has received ISO/IEC 27000 certification for Information Security Management Systems and ISO 50001:2011 certification for Energy Management Systems. Their Company is the first engineering Company in India to get all the ISO certifications. During the year the Company is also accredited with the British Safety Councils 5 star rating and sword of honor for Occupational Health, Safety and Environment management system.
Further, the Company has increased the talent pool and trained the employees to absorb the manufacturing technology to meet the market demands. During the year, the Company has received small orders for export of components to United States and Middle East countries. The Company is confident of receiving major orders in the coming months and is expected to achieve the targets in the coming years.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10240270 |
23/09/2011 * |
12,500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B22575625 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
Intangible Assets
· Computer software
· Know-how
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.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
29 |
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.