MIRA
INFORM REPORT
|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNIFY ENTERPRISE COMMUNICATIONS PRIVATE LIMITED (w.e.f. 18.10.2013) |
|
|
|
|
Formerly Known
As : |
SIEMENS ENTERPRISE COMMUNICATIONS PRIVATE LIMITED |
|
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Registered
Office : |
601, 6th Floor, 247 Park, Tower ‘B’, L.B.S. Marg, Vikhroli
(West), Mumbai – 400 083, |
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Country : |
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Financials (as
on) : |
30.09.2013 |
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Date of
Incorporation : |
11.01.2007 |
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Com. Reg. No.: |
11-166937 |
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Capital
Investment / Paid-up Capital : |
Rs.610.000 millions |
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CIN No.: [Company Identification
No.] |
U31908MH2007FTC166937 |
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PAN No.: [Permanent Account No.] |
AAKCS5375F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in trading of Communication Equipments and also
engaged in providing
convergence communications, video conferencing, call centre networking,
mobility, teleworking and multimedia solutions for enterprises. |
|
|
|
|
No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3300000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relation are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal 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
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 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 that 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
|
Name : |
Mr. Santosh Veer |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-71447179 |
|
Date : |
14.08.2014 |
LOCATIONS
|
Registered Office : |
601, 6th Floor, 247 Park, Tower ‘B’, L.B.S. Marg, Vikhroli
(West), Mumbai – 400 083, Maharashtra, India |
|
Tel. No.: |
91-22-71447179/ 30 |
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Fax No.: |
91-22-71447130 |
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E-Mail : |
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Area : |
3000 Sq. ft. |
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Location : |
Rented |
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Branch Office : |
Located at: ·
Delhi ·
Kolkata ·
Bangalore ·
Chennai ·
Bhopal ·
Hyderabad |
DIRECTORS
AS ON 27.03.2014
|
Name : |
Mr. Anil Kumar Prakash Chandra Jain |
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Designation : |
Managing Director |
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Address : |
7/4, Twinkle Star Society, Ghatla Marg, Chembur, Mumbai – 400 071,
Maharashtra, India |
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Date of Birth/Age : |
20.03.1963 |
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Date of Appointment : |
30.03.2011 |
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PAN No.: |
AAIPJ4334J |
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DIN No.: |
02819815 |
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Other Directorship :
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||||||||||||||||||
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Name : |
Mr. Chatan Mahavir Utture |
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Designation : |
Whole-time Director |
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Address : |
B/2, 602, Shubharambh Co-operative Society, Tikujiniwadi Road,
Manpada, Near Happy Vally, Thane (West), Thane – 400 610, Maharashtra,
India |
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Date of Birth/Age : |
21.03.1971 |
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Date of Appointment : |
30.03.2011 |
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PAN No.: |
AAGPU7947N |
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DIN No.: |
03359005 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Santosh Veer |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
Unify Overseas Holdings B. V., (Formerly EN Overseas Holding B.V.)
India |
|
60999999 |
|
Unify Germany Holdings B.V., (Formerly EN Germany Holding B.V.)India |
|
1 |
|
Total
|
|
61000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.03.2014
|
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 : |
Subject is engaged in trading of Communication Equipments and also
engaged in providing
convergence communications, video conferencing, call centre networking,
mobility, teleworking and multimedia solutions for enterprises. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
3000 (Approximately) |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India · ICICI Bank Limited |
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Facilities : |
Fund and Non-fund: Rs.420.000 millions (From HDFC Bank Limited) |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Tower 3, 27th-32nd Floor, Indiabulls Finance Centre, Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400 013, Maharashtra, India |
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PAN No.: |
AACFD4815A |
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Holding company: |
· EN Overseas Holdings B.V., Netherlands |
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Ultimate
controlling entity: |
· Gores Group LLC, USA |
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Intermediate
Holding company: |
· Enterprise Networks Holdings B.V., Netherlands · EN Germany Holdings B.V., Netherlands · Unify Beteiligungen GmbH & Co. KG, Germany · Unify GmbH & Co. KG, Germany |
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Fellow Subsidiary: |
· Unify Limited, Hong Kong · Unify Communications N.V., Belgium · Unify Enterprise Communications Limited, United Kingdom · Unify Inc. USA · Enterasys Networks Distribution Limited, Ireland · Unify GmbH Austria, Austria · Unify Limited, Shanghai, China |
CAPITAL STRUCTURE
AS ON 27.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
62000000 |
Equity Shares |
Rs.10/- each |
Rs.620.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
61000000 |
Equity Shares |
Rs.10/- each |
Rs.610.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
30.09.2013 |
30.09.2012 |
30.09.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
610.000 |
610.000 |
610.000 |
|
(b) Reserves & Surplus |
214.700 |
166.100 |
149.400 |
|
(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) |
824.700 |
776.100 |
759.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
2.200 |
6.800 |
7.900 |
|
(d) Long-term
provisions |
12.000 |
12.900 |
14.400 |
|
Total Non-current
Liabilities (3) |
14.200 |
19.700 |
22.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
349.100 |
370.300 |
246.200 |
|
(c)
Other current liabilities |
94.300 |
127.400 |
164.200 |
|
(d) Short-term
provisions |
96.400 |
133.700 |
142.000 |
|
Total Current
Liabilities (4) |
539.800 |
631.400 |
552.400 |
|
|
|
|
|
|
TOTAL |
1378.700 |
1427.200 |
1334.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
14.700 |
16.900 |
17.500 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
87.400 |
|
(iii)
Capital work-in-progress |
0.600 |
0.200 |
0.200 |
|
(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) |
51.500 |
57.100 |
49.000 |
|
(d) Long-term Loan and Advances |
59.000 |
41.300 |
40.800 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
125.800 |
115.500 |
194.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
146.800 |
159.300 |
114.400 |
|
(c)
Trade receivables |
726.900 |
715.500 |
541.000 |
|
(d) Cash
and cash equivalents |
314.100 |
376.700 |
416.200 |
|
(e)
Short-term loans and advances |
56.600 |
47.400 |
53.600 |
|
(f)
Other current assets |
8.500 |
12.800 |
14.000 |
|
Total
Current Assets |
1252.900 |
1311.700 |
1139.200 |
|
|
|
|
|
|
TOTAL |
1378.700 |
1427.200 |
1334.100 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
30.09.2013 |
30.09.2012 |
30.09.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2207.700 |
2332.800 |
2032.900 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2207.700 |
2332.800 |
2032.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1919.500 |
2138.900 |
1897.500 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
288.200 |
193.900 |
135.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
95.100 |
70.900 |
49.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
193.100 |
123.000 |
86.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
55.300 |
92.500 |
56.420 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
3.12 |
2.02 |
1.41 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2013 |
30.09.2012 |
30.09.2011 |
|
PAT / Total Income |
(%) |
8.75 |
5.27 |
4.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.72 |
14.15 |
10.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.25 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32 |
2.08 |
2.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.09.2011 |
30.09.2012 |
30.09.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
610.000 |
610.000 |
610.000 |
|
Reserves & Surplus |
149.400 |
166.100 |
214.700 |
|
Net
worth |
759.400 |
776.100 |
824.700 |
|
|
|
|
|
|
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 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.09.2011 |
30.09.2012 |
30.09.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2032.900 |
2332.800 |
2207.700 |
|
|
|
14.752 |
(5.363) |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.09.2011 |
30.09.2012 |
30.09.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2,032.900 |
2,332.800 |
2,207.700 |
|
Profit |
86.200 |
123.000 |
193.100 |
|
|
4.24% |
5.27% |
8.75% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10155246 |
01/08/2013 * |
420,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B83208371 |
* Date of charge modification
Note:
The registered office of the company has been shifted from 130, Pandurang
Budhkar Marg, Worli, Mumbai – 400 018, Maharashtra to the present address
w.e.f. 11.03.2013.
BACKGROUND
Unify Enterprise
Communications Private Limited (formerly Siemens Enterprise Communications
Private Limited) was incorporated on January 11, 2007. The Company commenced
operations on August 1, 2007. The Company purchased the Information and
Communications (Com EN) division of Siemens Limited with effect from August 1,
2007. The Company provides convergence communications, video conferencing, call
centre networking, mobility, teleworking and multimedia solutions for
enterprises.
During the year the Company
has changed its name to Unify Enterprise Communication Private Limited and has registered
with Registrar of Companies as per the revised Certificate of Incorporation
dated October 18, 2013.
OPERATIONS
For FY 2012-13, turnover of the company is marginally reduced to Rs.2207.700 millions from that of Rs.2332.800 millions in the previous year. However, Profit before tax rose to Rs.288.200 millions from that of Rs.193.900 millions in previous financial year registering whooping growth of Rs.94.300 millions. This substantial improvement in PBT is attributed to various cost cutting measures initiated by the company during the year. Net profit after tax surged to Rs.193.100 millions as compared to Rs.123.000 millions in the previous year. Overall, the company has made substantial improvement on the financial front.
The success company achieved during fiscal 2013 confirms that they are on the right track. They have been able to create value for their customers and forge partnerships for mutual growth and prosperity. Their customers have placed their confidence in their products, services and solutions, for which they are thankful to them. The trend that they see very clearly is that sustainable business is the new mantra within their organization as well as with their customers, partners and suppliers. Hence, their focus for the near future will be on sustainable and capital efficient growth.
FUTURE OUTLOOK
Enterprise Communication market in India is showing a major shift in technology and customer demands UC, mobility and collaboration are the key drivers. The overall market would still grow at 14% per annum but due to the change in technology and customer demand they are better poised to capture a larger part of this market demand.
VoIP will continue to grow at faster pace coupled with Unified communication. Major markets in India which was traditionally TDM centric is fast changing to IP deployment due to the sheer benefits of Unified Communication, ease of deployment and a faster ROI. Applications are taking center stage in voice platform decisions. Company has one of the strongest portfolios in IP and UC along with technical, System integration and project management skill set to address this market opportunity where the customer is now looking for one stop shop for its entire wired, wireless and UC application needs.
Mobility is no more a like to have but a must have facility in communication portfolio. This results in integration of office communication system with the mobile network so that 100% seamless communication of not only voice but presence, IM and web collaboration is possible on the go. BYOD is the way ahead which puts a demand on corporate security and they at Unify have the required solution to ensure smooth deployment at customer premises.
Demand for higher bandwidth and faster networks has resulted in high growth in Data Networking (wired and wireless) and Security market which is well addressed with its strategic agreement with Juniper Networks and Extreme Networks. Gigabit to the desk requirement to ensure triple play services at the desk is the need of the hour.
Video conferencing has shown highest growth in adoption. The market can be addressed as standalone Videoconferencing / Telepresence solutions as well as part of integrated UC portfolio. These solutions will be more in demand now as businesses are looking for cost cutting on travel expenses and earn carbon credits. Natural extension to video conferencing business is Audio / Video integration business and Company has the required technology tie ups and in house skill set to address these system integration opportunities.
Specialized vertical solutions for industries are in demand. Company has dedicated solutions for Banking Industry and Hospitality Industry and they will be addressing this specific market segment.
Most of the service market is still around Lifecycle services. Professional services market is still nascent and very much scattered. Managed Services is substantially large market but focused only on FMS and Data / Server managed services. No vendor in the market offers managed services for Voice platforms. Company has also started activities to offer Professional Services like Network Audit, trainings etc. Cloud services are still emerging. Private Cloud for Enterprise Communication is more interesting for many large enterprise customers and most of the cloud investments will be in Private Clouds. Company has end to end offering to address these Hosted communication business opportunities via service providers.
Company has evolved over the past years from a pure voice centric player to an end to end Solution Provider and a true system integrator with strong project management capabilities. This has enabled the company to execute end to end solution encompassing voice, video, data, and security bundled with array of services.
Customer communication requirements are becoming complex with demand for 99.999 availability and integration of their changing business processes to the communication infrastructure to improve employee productivity and reduce cost. Company with its emerging UC portfolio and mobility solutions along with system integration skills and business process knowledge is well positioned to address this fast growing and changing customer demand.
FIXED ASSETS:
· Furniture and Fixtures
· Office Equipment
· Computer Equipment
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 : |
|
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
54 |
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.