MIRA
INFORM REPORT
|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ESMECH EQUIPMENT PRIVATE LIMITED |
|
|
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|
Registered
Office : |
A-4, A-6, Gundecha Onclave, |
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|
Country : |
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|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.03.2008 |
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|
|
|
Com. Reg. No.: |
11-179671 |
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|
Capital
Investment / Paid-up Capital : |
Rs.50.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29255MH2008PTC179671 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME07800C |
|
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PAN No.: [Permanent Account No.] |
AABCE9492J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer,
Exporter and Importers of Cold Rolling Mills and Strip Metal Process line
Equipment. |
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|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 joint venture between SMS Siemay Ag, Germany and H B
Esmech Private Limited engaged in manufacturing of world class cold rolling mills
and strips metal process line equipments. Management has filed FORM 20B, depicting annual return for FY14,
whereas failed to file any other financial documents with the statutory
authorities. As per available, the company possesses a reasonable financial profile
marked by adequate networth base along with moderate liquidity profile as
reflected by working capital intensive operations and slight increase in
receivables period along with low liquid investments as well as sharp dip in
its cash balance during FY 2013. Management has witnessed a better increase in its sales volume whereas
has reported a drastic dip in its net profitability which has impacted the
margins during the year under review. However, trade relations seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of reputed foreign holding company, the subject can be
considered for business dealings with caution. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the Companies
Act is the latest manifestation of a messy fight between a father and his
adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
Not Available
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 PARTED BY
|
Name : |
Mr. S. Murlidharan |
|
Designation : |
General Manager (Finance) |
|
Contact No.: |
91-22-25821295 |
|
Date : |
03.12.2014 |
LOCATIONS
|
Registered Office : |
A-4, A-6, Gundecha Onclave, Kherani Road, Andheri (East), Mumbai - 400
072, Maharashtra , India |
|
Tel. No.: |
91-22-25821295 |
|
Mobile No.: |
91-9833811228 (Mr. S. Murlidharan) |
|
Fax No.: |
91-22-25826560 |
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E-Mail : |
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Website : |
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Corporate Office / Factory 1 : |
Plot No. A-254-259 and A283, Road No.30A, Wagle Industrial Estate,
Thane (West) – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25821295 / 25821733 / 25823417 |
|
Fax No.: |
91-22-25826550 |
|
Location : |
Rented |
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|
|
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Factory 2 : |
Survey No:6 To 22, Taloja- Ambanath Road, Village- Ghotclal, Ghotcamp,
Taluka – Panvel, District Raigad- 410208, Maharashtra, India |
|
Location : |
Owned |
DIRECTORS
As on 22.09.2014
|
Name : |
Mr. Vijay Suresh Joshi |
|
Designation : |
Managing Director |
|
Address : |
Pitruvandana, Plot No.11, Kala Nagar, Bandra (East), Mumbai – 400 051,
|
|
Date of Birth/Age : |
08.03.1969 |
|
Qualification : |
B.E. (Mechanical), PGDM (IIM |
|
Date of Appointment : |
01.06.2010 |
|
PAN No.: |
AAAPJ7057J |
|
DIN No.: |
01550964 |
|
|
|
|
Name : |
Mr. Suresh Laxman Joshi |
|
Designation : |
Whole-time director |
|
Address : |
Pitruvandana, Plot No.11, Kala Nagar, Bandra (East), Mumbai – 400 051,
|
|
Date of Birth/Age : |
24.12.1940 |
|
Qualification : |
B.E. (Mechanical) |
|
Date of Appointment : |
01.06.2010 |
|
PAN No.: |
AAAPJ7056K |
|
DIN No.: |
01934030 |
|
|
|
|
Name : |
Mr. Ruediger Gerhard Holz |
|
Designation : |
Director |
|
Address : |
10, Tannenstrasse, Struthuetten, Neunkirchen-57290, |
|
Date of Birth/Age : |
25.01.1960 |
|
Date of Appointment : |
30.03.2010 |
|
DIN No.: |
03025657 |
|
|
|
|
Name : |
Mr. Michael Erwin Cottin |
|
Designation : |
Director |
|
Address : |
Am Wildpark – 19, Dusseldorf |
|
Date of Birth/Age : |
05.03.1961 |
|
Date of Appointment : |
16.05.2013 |
|
DIN No.: |
06650919 |
|
|
|
|
Name : |
Mr. Christoph Johann Henrich Kohlhaussen |
|
Designation : |
Additional Director |
|
Address : |
Bockumer Strbe. 226, 40489 Dusseldorf, Bockumer, 55367, Germany |
|
Date of Birth/Age : |
25.03.1964 |
|
Date of Appointment : |
01.01.2014 |
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DIN No.: |
06816300 |
KEY EXECUTIVES
|
Name : |
Mr. Prasad Shewale |
|
Designation : |
Import / Export Manager |
|
|
|
|
Name : |
Mr. S. Murlidharan |
|
Designation : |
General Manager (Finance) |
MAJOR SHAREHOLDERS
As on 22.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Suresh Laxman Joshi |
250000 |
5.00 |
|
Vijay Suresh Joshi |
250000 |
5.00 |
|
HB Esmech Private Limited, India |
1950000 |
39.00 |
|
SMS Siemag, Germany |
2550000 |
51.00 |
|
Total |
5000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 22.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.00 |
|
Bodies corporate |
39.00 |
|
Directors or relatives of Directors |
10.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter and Importers of Cold Rolling Mills and Strip Metal Process line
Equipment. |
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Products : |
·
Cold Rolling Mills / Skin Pass Mills ·
Pickling Lines ·
Cut-to-Length Lines ·
Slitting Lines ·
Tension Levelling Lines ·
Coating Lines ·
Rewinding and Trimming Lines ·
Blanking Line ·
Electrolytic Cleaning Line ·
Special Purpose Lines |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Thailand ·
Vietnam |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
USA ·
Korea ·
China ·
Japan ·
Italy ·
Germany |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity * |
Actual
Production * |
|
Coil Processing
Equipments and Spares |
Not Applicable |
-- |
-- |
* Note: The Company manufactures custom designed
coil processing equipment and spares thereof, hence the concept of
"Installed Capacity" and "Actual Production" is difficult
to quantify.
This being technical matter, is as certified by the Management and
relied upon by Auditors.
GENERAL INFORMATION
|
Suppliers : |
ABB Limited |
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Customers : |
Tata Steel Limited |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
Canara Bank, Bhandup Branch, Mumbai, Maharashtra, India |
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Facilities : |
Note : The loans are repayable in equal installments aggregating to Rs.1.894
millions (P.Y. Rs.0.168 millions). The interest rate of above ranging loans against
vehicles are secured by way of hypothecation of specific vehicles acquired
under the arrangements. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
202, Shreeji Palace Near Jalaram Mandir, Saraswat Colony, Dombivali
(East), Dombivali – 421201, India |
|
PAN No: |
AAAFH2010F |
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|
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Membership : |
-- |
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Holding Company : |
· SMS Siemag AG (SMS) Address: Eduard-Schloeman-Strabe 4, D-40237, Dusseldoorf, Germany |
|
|
|
|
Subsidiary Company : |
·
Pitel Engineering Private Limited (PEPL) CIN No.: U29299MH1996PTC103478 |
|
|
|
|
Enterprises significantly influenced by key management personnel or
their relatives or other companies : |
·
HB Esmech Private Limited (HBEPL) CIN No.:U99999MH1970PTC014872 ·
Kennovation Software Services Private Limited
(KSSPL) CIN No.:U72300MH2007PTC168164 ·
Esmech Rolling Machinery Private Limited (ERMPL) ·
Retailnet India Private Limited (RIPL) ·
EMG Automation GmbH, Germany ·
EMG Automation (India) Private Limited ·
BST Sayona Automations Private Limited |
CAPITAL STRUCTURE
As on 22.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 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 |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
699.612 |
695.824 |
651.048 |
|
(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) |
749.612 |
745.824 |
701.048 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.894 |
0.168 |
0.350 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.115 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
30.028 |
3.786 |
7.740 |
|
Total Non-current Liabilities (3) |
31.922 |
5.069 |
8.090 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
169.844 |
0.000 |
0.000 |
|
(b) Trade payables |
285.590 |
342.279 |
137.835 |
|
(c) Other current
liabilities |
325.564 |
890.049 |
447.236 |
|
(d) Short-term provisions |
9.315 |
6.812 |
0.041 |
|
Total Current Liabilities (4) |
790.313 |
1239.140 |
585.112 |
|
|
|
|
|
|
TOTAL |
1571.847 |
1990.033 |
1294.250 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
299.247 |
302.252 |
219.946 |
|
(ii) Intangible Assets |
13.632 |
20.967 |
19.154 |
|
(iii) Capital
work-in-progress |
8.420 |
6.641 |
4.502 |
|
(iv)
Intangible assets under development |
1.858 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.865 |
5.865 |
5.865 |
|
(c) Deferred tax assets (net) |
1.483 |
0.000 |
0.673 |
|
(d) Long-term Loan and Advances |
24.696 |
21.350 |
19.643 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
355.201 |
357.075 |
269.783 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
293.413 |
180.701 |
|
(b) Inventories |
526.722 |
640.762 |
239.937 |
|
(c) Trade receivables |
573.668 |
444.357 |
397.746 |
|
(d) Cash and cash
equivalents |
20.179 |
71.341 |
111.602 |
|
(e) Short-term loans and
advances |
36.586 |
85.422 |
51.619 |
|
(f) Other current assets |
59.491 |
97.663 |
42.862 |
|
Total Current Assets |
1216.646 |
1632.958 |
1024.467 |
|
|
|
|
|
|
TOTAL |
1571.847 |
1990.033 |
1294.250 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1681.275 |
1471.290 |
1085.539 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
1616.962 |
1378.347 |
890.741 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
64.313 |
92.943 |
194.798 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
42.141 |
34.877 |
26.057 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
22.172 |
58.066 |
168.741 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
18.385 |
13.289 |
58.694 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
3.787 |
44.777 |
110.047 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.76 |
8.96 |
22.00 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1750.000 |
The above information has been parted by Mr. S. Murlidharan
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.23 |
3.04 |
10.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.43 |
2.94 |
13.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.08 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.23 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54 |
1.32 |
1.75 |
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
651.048 |
695.824 |
699.612 |
|
Net
worth |
701.048 |
745.824 |
749.612 |
|
|
|
|
|
|
long-term borrowings |
0.350 |
0.168 |
1.894 |
|
Short term borrowings |
0.000 |
0.000 |
169.844 |
|
Total
borrowings |
0.350 |
0.168 |
171.738 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.229 |
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 |
|
Sales |
1,085.539 |
1,471.290 |
1,681.275 |
|
|
|
35.535 |
14.272 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
1,085.539 |
1,471.290 |
1,681.275 |
|
Profit |
110.047 |
44.777 |
3.787 |
|
|
10.14% |
3.04% |
0.23% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
0.691 |
0.181 |
0.185 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Note: The registered office of the company has been shifted from A254-259 and A 283, Road No.30A, Wagle Industrial Estate, Thane – 400 604, Maharashtra, India to the present address w.e.f. 05.03.2008.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans repayable on Demand |
169.844 |
0.000 |
|
|
|
|
|
Total |
169.844 |
0.000 |
CONTINGENT LIABILITY
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Contingent Liability not provided for |
|
|
|
Bank
Guarantees |
24.963 |
205.129 |
|
Letter of Credit
Provided to Customer |
45.139 |
1.799 |
|
Income Tax Matter |
4.818 |
0.000 |
|
Estimation Amount
of Contracts remaining to be executed on capital account |
7.672 |
10.975 |
|
|
|
|
|
Total |
82.592 |
217.903 |
NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
NEWS
Subject is an Indian JV partner of SMS Siemag, Germany, has
successfully put into operation the new reversing cold mill at Star core
Company Limited in Royang, Thailand.
Starecore has now an additional production capacity
of 200,000 tonne of high grade CR strip as well as a skin passing capacity of
146,000 tonne per year. The combined reversing and skin passing mill rolls and
skin-passes strips of up to 1,250 millimeter width at a maximum rolling speed
of 1,200 meter per minute. The minimum rolled final gage is 0.2 millimeter.
Starcore will supply the products to its own parent company Saeng Thai Metal
Drum Company Limited and to the Southeast Asian market.
The combined 4 high CR mill with CVC was
installed and successfully commissioned by Esmech Equipment. Core components
such as cylinder and bending blocks as well as CVC shifting systems were
provided by SMS Siemag's production facility in Hilchenbach, Germany. The
complete mill stand was pre-assembled in the Esmech workshop in Wada/Mumbai,
India, in order to ensure smooth erection and commissioning.
The new combined rolling and skin – pass mill at Star core.
SMS Siemag AG is a company of the SMS group
which, under the roof of the SMS Holding GmbH, consists of a group of companies
internationally active in plant construction and mechanical engineering for the
steel and nonferrous metals industry. With more than 13,000 employees, the
group generates sales of about EUR 3.5 billion.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.61.89 |
|
UK Pound |
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
33 |
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.