MIRA
INFORM REPORT
|
Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
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Name : |
TECHNIP INDIA LIMITED |
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Registered Office
: |
B-22 Okhla Industrial Area Phase I, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.08.1971 |
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Com. Reg. No.: |
55-005742 |
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Capital Investment
/ Paid-up Capital : |
Rs 140.000 Millions |
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CIN No.: [Company Identification
No.] |
U72200DL1971PLC005742 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK3349R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company engaged in providing Design, Consultancy and Technical
Services, Execution of Projects and Fabrication of Equipments. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 8000000 |
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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 fine track. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. The company can be considered good for business dealings 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
Management non co-operative (91-22-67002000)
LOCATIONS
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Registered Office : |
B-22 Okhla Industrial Area Phase I, |
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Tel. No.: |
91-11-26812439 |
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Fax No.: |
91-11-26819057 |
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E-Mail : |
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Operating
Center:
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·
Tel: +91-120-4301000 ·
Mumbai
B1 - 701, Boomerang, Tel: +91-22-67002000 ·
Chennai Technip Centre 19, Tel No.: +91-44-22303100 |
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Management
Office:
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A-602, Boomerang, Chandivali Farm Road, Andheri (E), Mumbai - 400072, Maharashtra , India |
Tel. No.:
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91-22-67002000 |
DIRECTORS
As on 30.09.2014
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Name : |
Mr. Gulsan Kumar Chhabra |
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Designation : |
Whole Time Director |
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Address : |
A-808, Dream Appartments, Plot No. 14, Sector 22, Dwarka, New |
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Date of Birth/Age : |
18.04.1956 |
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Qualification : |
FICWA, B. Com |
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Experience : |
38 Years |
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Date of Appointment : |
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DIN No.: |
00610959 |
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Other
Directorship :
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Name : |
Emmanuelle Sylvie Rocle Florence |
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Designation : |
Director |
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Address : |
5 RUE Henri Kapferer 78360 Montesson, |
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Date of Birth/Age : |
07.05.1971 |
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Date of Appointment : |
23.07.2012 |
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DIN no.: |
03619968 |
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Other
Directorship :
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Name : |
Mr. Nicoletta Gidrossi |
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Designation : |
Director |
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Address : |
18, RUE Weber, Paris – 75116, France |
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Date of Birth/Age : |
16.05.1966 |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
06979692 |
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Name : |
Mr. Karimpet Shanker |
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Designation : |
Whole Time Director |
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Address : |
Shivalaya Plot No. 238-12, Ganesh Avenue Sakthi Nagar Porur, Shennai
-600116, Tamilnadu, India |
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Date of Birth/Age : |
04.12.1948 |
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Date of Appointment : |
01.05.2012 |
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DIN No.: |
00101773 |
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Other
Directorship :
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Name : |
Mr. Uccelletti Nello |
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Designation : |
Director |
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Address : |
Viale Castello Della, Magliana, 68, 00148 Rome. Italy |
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Date of Birth/Age : |
02.04.1953 |
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Date of Appointment : |
17.05.2013 |
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DIN No.: |
00121706 |
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Other
Directorship :
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Name : |
Mr. Hiro Mulram Wadhwani |
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Designation : |
Alternate Director |
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Address : |
15 Silver Oaks Avenue, DLF City Phase-I, Gurgaon – 122002, Haryana,
India |
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Date of Birth/Age : |
14.07.1933 |
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Date of Appointment : |
13.02.2013 |
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DIN No.: |
00049871 |
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Other
Directorship :
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Name : |
Mr. Samik Mukherjee |
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Designation : |
Managing Director |
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Address : |
15 Avenue Louis Bleriot Montesson 78360, France |
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Date of Birth/Age : |
02.08.1970 |
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Date of Appointment : |
01.05.2012 |
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DIN No.: |
05240208 |
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Other
Directorship :
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Name : |
Stephen Siegel |
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Designation : |
Director |
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Address : |
33 RUE De Laubepine, Montigny Le Bretonnex 78180, France |
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Date of Birth/Age : |
25.11.1976 |
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Date of Appointment : |
23.07.2012 |
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05237249 |
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Other
Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Prashant Sharma |
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Designation : |
Secretary |
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Address : |
H-701, Ansal Neelpadm-1, Plot No. 4, Sector – 5, Vaishali, Ghaziabad –
201012, Uttar Pradesh, Inida |
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Date of Birth/Age : |
23.07.1975 |
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Date of Appointment : |
01.11.2006 |
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PAN No: |
ASAPS5358K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
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No. of Shares |
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SAS France Technip |
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19948931 |
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K. Balachandran |
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10 |
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Mr. Rocle Florence Jointly With Mr. Chopra Yashpal |
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10 |
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Mr. Boudalliez Samuel Jointly with Mr. Chhabra K Gulshan |
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10 |
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Mr. Stephen Siegel jointly with Mr. Prashant Sharma |
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13 |
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Mr. Aubry Marc Jean jointly with Mr Mathur S. C. |
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13 |
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Mukherjee Samik |
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13 |
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Total |
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19949000 |
Equity Share Break up (Percentage of Total Equity)
|
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 |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company
engaged in providing Design, Consultancy and Technical Services, Execution of
Projects and Fabrication of Equipments. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Divulged |
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Bankers : |
ABN Amro Bank, N.V,
15, Hansalaya Building, Barakhamba Road, New Delhi - 110001, Delhi, India |
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Auditors : |
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Name : |
S.R. Batliboi And Associates LLP Chartered Accountant |
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Address : |
6th Floor, HT House 18-20, Kasturba, Gandhi Marg, New Delhi
110001, India |
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PAN No.: |
ACHFS9118A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
Technip France SAS, France |
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Fellow
Subsidiaries : |
Technip France - India Project Office Technip France - Abu Dhabi Branch Technip France - Lyon office Technip Italy Technip USA Technip Benelux B.V. Technip Angola Technip Oceania Private Limited Technip Brazil Technip Middle East Technip Singapore Private Limited Global Industries Asia Pacific Private Limited Technip China TP Consultant (M) SND BHD Technip E&C Ltd - UK Technip UK Limited TP Geoproduction (M) SND BHD TP North America - Houston TP S&W PT Houston Technip Malaysia TP Seiffert GMBH Technip Tianchem Chemical Engineering (Tianjin) Company Limited TP-Marine B.V Technip Net SAS Stone & Webster International, Inc. Technip E&C, Inc. (Formerly Shaw Energy & Chemicals Inc) TP S&W Intl Inc Abu Dhabi (Formerly SW International Inc,Abu Dhabi Branch) Technip Energy and Chemicals International, Inc. ( Formerly Shaw Energy and Chemicals Intnl Inc) Duco Limited Flexibras Tubos Flexiveis Limited Global Industries Asia Pacific Private Limited Technip China TP Consultant (M) SND BHD Technip E&C Limited - UK Technip UK Limited TP Geoproduction (M) SND BHD TP North America - Houston TP S&W PT Houston Technip Malaysia TP Seiffert GMBH Technip Tianchem Chemical Engineering (Tianjin) Company Limited TP-Marine B.V Technip Net SAS Stone & Webster International, Inc. Technip E&C, Inc. (Formerly Shaw Energy & Chemicals Inc) TP S&W Intl Inc Abu Dhabi (Formerly SW International Inc,Abu Dhabi
Branch) International, Inc. ( Formerly Shaw Energy and Chemicals Intnl Inc) Duco Limited Flexibras Tubos Flexiveis Limited Technip Corporate Services Technip Engineering (Thailand) Limited Technip Epg B.V. Technip Far East Sdn Bhd Eur Technip France Sas Korea Branch Technip Germany Technip Iberia SA PT. Technip Engineering Indonesia Technip Marine (Malaysia) Sdn Bhd Technip Norge As Technip Qatar Uranium Mining Services Technip USA TP S&W PT Claremont Technip Saudi Arabia Limited GIL Services Private Limited MEPI Abu Dhabi Technip Far East Sdn Bhd Technip Marine (Malaysia) Sdn Bhd Technipnet SA Technip France - Qatar Technip EPG BV Technip Middle East Doha Flexi France SAS Gnpc - Technip Engineering Services Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs. 140.000
Millions |
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As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs. 450.000 Millions |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19949000 |
Equity Shares |
Rs.10/- each |
Rs. 199.490
Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
140.000 |
140.000 |
140.000 |
|
(b) Reserves & Surplus |
2773.517 |
1453.472 |
1198.319 |
|
(c) Money
received against share warrants |
59.490 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2973.007 |
1593.472 |
1338.319 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
25.434 |
30.255 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.388 |
0.588 |
0.658 |
|
(d) long-term provisions |
390.832 |
60.694 |
469.133 |
|
Total Non-current Liabilities (3) |
416.654 |
91.537 |
469.791 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2886.326 |
1713.287 |
1855.412 |
|
(c) Other current
liabilities |
8533.448 |
2258.736 |
2757.913 |
|
(d) Short-term provisions |
948.316 |
826.909 |
190.644 |
|
Total Current Liabilities (4) |
12368.090 |
4798.932 |
4803.969 |
|
|
|
|
|
|
TOTAL |
15757.751 |
6483.941 |
6612.079 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
593.787 |
480.374 |
321.334 |
|
(ii) Intangible Assets |
15.496 |
8.679 |
6.803 |
|
(iii) Capital
work-in-progress |
5.056 |
0.964 |
1.304 |
|
(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) |
290.783 |
221.819 |
205.605 |
|
(d) Long-term Loan and Advances |
325.572 |
137.274 |
93.798 |
|
(e) Other Non-current assets |
754.556 |
1304.160 |
479.146 |
|
Total Non-Current Assets |
1985.250 |
2153.270 |
1107.990 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
2838.428 |
1632.055 |
3312.677 |
|
(d) Cash and cash
equivalents |
6910.453 |
1983.299 |
1717.855 |
|
(e) Short-term loans and
advances |
2540.684 |
367.627 |
283.892 |
|
(f) Other current assets |
1482.936 |
347.690 |
189.665 |
|
Total Current Assets |
13772.501 |
4330.671 |
5504.089 |
|
|
|
|
|
|
TOTAL |
15757.751 |
6483.941 |
6612.079 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8682.027 |
4473.287 |
6834.790 |
|
|
|
Other Income |
304.365 |
239.579 |
155.547 |
|
|
|
TOTAL |
8986.392 |
4712.866 |
6990.337 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1034.438 |
1026.572 |
3285.165 |
|
|
|
Employees benefits expense |
3744.446 |
1550.645 |
1129.436 |
|
|
|
Other expenses |
2616.498 |
1327.803 |
1717.926 |
|
|
|
TOTAL
|
7395.382 |
3905.020 |
6132.527 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1591.010 |
807.846 |
857.810 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1591.010 |
807.846 |
857.810 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
156.432 |
79.952 |
55.324 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1434.578 |
727.894 |
802.486 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
505.872 |
227.052 |
263.275 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
928.706 |
500.842 |
539.211 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
10.70 |
11.20 |
7.89 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
18.33 |
18.06 |
12.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.28 |
11.63 |
12.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.46 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.01 |
0.02 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
0.90 |
1.15 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
140.000 |
140.000 |
140.000 |
|
Reserves & Surplus |
1198.319 |
1453.472 |
2773.517 |
|
Money received against share warrants |
0.000 |
0.000 |
59.490 |
|
Net
worth |
1338.319 |
1593.472 |
2973.007 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
30.255 |
25.434 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
30.255 |
25.434 |
|
Debt/Equity
ratio |
0.000 |
0.019 |
0.009 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
6834.790 |
4473.287 |
8682.027 |
|
|
|
(34.551) |
94.086 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
6834.790 |
4473.287 |
8682.027 |
|
Profit |
539.211 |
500.842 |
928.706 |
|
|
7.89% |
11.20% |
10.70% |
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 |
No |
|
25] |
Conduct of the banking
account |
--- |
|
26] |
Buyer visit details |
Yes |
|
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 Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Long-Term Maturities of Finance Lease
Obligations |
25.533 |
30.255 |
|
Total |
25.533 |
30.255 |
INDEX OF CHARGES: NO CHARGES
EXIST FOR THE COMPANY
FIXED ASSETS
·
Land and Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Leasehold Improvements
PRESS
RELEASE
TECHNIP
PLANS TO MERGE INDIA UNITS
Mumbai: France’s Technip SA,
an offshore engineering and construction company, plans to merge its three
Indian companies into one under Technip India Ltd in order to consolidate its
activities.
Technip KT India Ltd (based
out of New Delhi), Technip India Ltd (Chennai), Stone and Webster Process Ltd
and will be merged into Technip India Ltd.
“We have secured all
necessary legal approvals for this merger. As a part of this merger, we will be
standardising our engneering, procurement and construction capabilities in
India and will offer one-stop offshore services under one brand,” Samik
Mukherjee, country head and managing director (India) at Technip, said in an
interview on Wednesday.
Technip is in the process
of selling its Indian offshore company Seamec Ltd to logistics company HAL
Offshore Ltd. Last month, HAL Offshore, part of the MM Agrawal Group, had
agreed to buy a 75% stake in Seamec from Coflexip Stena Offshore (Mauritius)
Ltd, a part of Technip SA, for Rs.246 crore.
HAL Offshore will initially
buy a 51% stake in Seamec from Coflexip at Rs.97 a share and look to buy the
remaining stake in an open offer.
Mukherjee said Technip as a
group is focusing on deep sea exploration instead of shallow water projects
executed by Seamec.
“We have decided to exit
Seamec as an overall group strategy. With the merger of the remaining four
companies, Technip would be able to offer technologically advanced solutions to
deep water explorations in India,” he said.
Technip’s India unit
revenue was at $250 million for the last financial year and accounts for 10% of
the total man hours of Technip Group.
Mukherjee ruled out any
public listing of Indian unit or selling a stake to strategic investors.
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. 61.85 |
|
|
1 |
Rs. 96.72 |
|
Euro |
1 |
Rs. 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
51 |
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.