|
Report Date : |
05.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ELKEM SOUTH ASIA PRIVATE LIMITED (w.e.f. 06.07.2011) |
|
|
|
|
Formerly Known
As : |
ORKLA INDIA PRIVATE LIMITED (w.e.f. 18.01.2008) ELKAM INDIA PRIVATE LIMITED (w.e.f. 18.11.1999) ELKEM METALLURGY PRIVATE LIMITED |
|
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Registered
Office : |
307/308, B-wing, |
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|
Country : |
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|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.06.1987 |
|
|
|
|
Com. Reg. No.: |
11-043668 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1987FTC043668 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Building Material. |
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|
|
|
No. of Employees
: |
Not Available |
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 2450000 |
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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. Financial position of the company appears to be sound. No external borrowings recorded by the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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
31-03-2012.
LOCATIONS
|
Registered Office : |
307/308, B-wing, BSEL Tech Park, Sector 30 A, Vashi, Navi
Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-67761900 |
|
Fax No.: |
91-22-67761999 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 20.08.2013
|
Name : |
Mr. Roland Hennigfeld |
|
Designation : |
Director |
|
Address : |
Zum Galkhausener Bach 36, Langenfeld, Langenfeld, 40764, Germany |
|
Date of Appointment : |
02.03.2010 |
|
DIN No.: |
03293910 |
|
|
|
|
Name : |
Mr. Srinivasan Saranathan Iyer |
|
Designation : |
Director |
|
Address : |
Flat No 101 and 102 A 2, Shri Shankara, P L Lokhande Marg,
Govandi, Mumbai- 400043, Maharashtra, India |
|
Date of Appointment : |
03.03.2011 |
|
DIN No.: |
03506599 |
|
|
|
|
Name : |
Erik Bergsmo |
|
Designation : |
Director |
|
Address : |
Room 2601, No 16, Lane 2, West Wei Fang Road, Shanghai
Prc, 200120, China |
|
Date of Appointment : |
18.11.2010 |
|
DIN No.: |
03557163 |
|
|
|
|
Name : |
Jakob Pedersen |
|
Designation : |
Director |
|
Address : |
Klosterheimveien 14, Oslo 0666 Oslo |
|
Date of Birth/Age : |
30.04.1980 |
|
Date of Appointment : |
26.06.2012 |
|
DIN No.: |
05310175 |
MAJOR SHAREHOLDERS
As on 20.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Elkem AS, India |
|
99999 |
|
S. S. S. Iyer |
|
1 |
|
Total |
|
100000 |
Equity Share Break up (Percentage of Total Equity)
As on 20.08.2013
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Building Material. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Andhra Bank, Persipolies Building, Mumbai, Maharashtra,
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
PAN No.: |
AABFL5878L |
|
|
|
|
Holding Company : |
Elkem AS, Norway |
|
|
|
|
Ultimate Holding Company : |
·
China
National Chemical corporation (from 14th April, 2011) ·
Orkla
ASA (till 14th April, 2011) |
|
|
|
|
Fellow Subsidiaries : |
·
Borregaard
Industries Limited (till 14th April, 2011) ·
Borregaard
AS Norway (till 14th April, 2011) ·
Borregaard
South Aria Private Limited (till 14th April, 2011) ·
Borregaard
Deutschland GMBH (till 14th April, 2011) ·
Borregaard
Italia SPA (till 14th April, 2011) ·
Borregaard
Lignotech USA (till 14th April, 2011) ·
Borregaard
SEA PTE Limited (till 14th April, 2011) ·
Elkem
Carbon China Company Limited ·
Elkern
Lberia, S. L. ·
Elkem Materials
Middle East ·
Elkem
Metal Canada ·
Elkem
International Trade (Shanghai) Company Limited ·
Bluestar
Silicones Hongkong Trading Company Limited ·
Elkem
Singapore Materials Pte Limited ·
Sapa
Building System FZE (till 14th April, 2011) ·
Sapa
Building System Nv (till 14th April, 2011) ·
Sapa
Building System Private Limited (till 14th April, 2011) ·
Sapa
Heat Transfer AB (till 14th April, 2011) ·
Sapa
Heat Transfer Shanghai (till 14th April, 2011) ·
Sapa
Others (till 14th April, 2011) ·
Sapa
Profiles Asia (till 14th April, 2011) ·
Sapa
Profiles India Private Limited (till 14th April, 2011) |
CAPITAL STRUCTURE
As on 20.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
602.187 |
517.414 |
445.530 |
|
(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) |
612.187 |
527.414 |
455.530 |
|
|
|
|
|
|
(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 |
3.756 |
3.045 |
3.429 |
|
(d) long-term provisions |
6.568 |
5.422 |
4.637 |
|
Total Non-current Liabilities (3) |
10.324 |
8.467 |
8.066 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
1.346 |
|
(b) Trade payables |
165.774 |
153.361 |
430.538 |
|
(c) Other current
liabilities |
14.261 |
11.636 |
19.467 |
|
(d) Short-term provisions |
7.394 |
7.151 |
14.248 |
|
Total Current Liabilities (4) |
187.429 |
172.148 |
465.599 |
|
|
|
|
|
|
TOTAL |
809.940 |
708.029 |
929.195 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
41.019 |
38.573 |
58.510 |
|
(ii) Intangible Assets |
0.202 |
0.308 |
0.444 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
4.161 |
2.602 |
0.837 |
|
(d) Long-term Loan and Advances |
12.399 |
11.118 |
5.592 |
|
(e) Other Non-current assets |
0.269 |
30.605 |
35.345 |
|
Total Non-Current Assets |
58.050 |
83.206 |
100.728 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
262.345 |
248.986 |
345.894 |
|
(c) Trade receivables |
256.592 |
187.753 |
339.475 |
|
(d) Cash and cash
equivalents |
199.485 |
163.622 |
97.151 |
|
(e) Short-term loans and
advances |
21.794 |
15.503 |
42.498 |
|
(f) Other current assets |
11.674 |
8.959 |
3.449 |
|
Total Current Assets |
751.890 |
624.823 |
828.467 |
|
|
|
|
|
|
TOTAL |
809.940 |
708.029 |
929.195 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
950.719 |
857.273 |
1585.205 |
|
|
|
|
Other Income |
17.168 |
11.057 |
23.393 |
|
|
|
|
TOTAL (A) |
967.887 |
868.330 |
1608.598 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
12.074 |
21.285 |
7.289 |
|
|
|
|
Purchase of Stock-in-trade |
712.804 |
706.701 |
1355.680 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(9.582) |
(88.762) |
(156.511) |
|
|
|
|
Employee Benefits Expenses |
46.031 |
42.268 |
55.160 |
|
|
|
|
Other Expenses |
76.071 |
86.175 |
118.267 |
|
|
|
|
TOTAL (B) |
837.398 |
767.667 |
1379.885 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
130.489 |
100.663 |
228.713 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
0.380 |
2.784 |
1.929 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
130.109 |
97.879 |
226.784 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
5.344 |
4.175 |
8.327 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
124.765 |
93.704 |
218.457 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
39.991 |
32.217 |
74.669 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
84.774 |
61.487 |
143.788 |
||
|
|
|
|
|
|
||
|
|
PROFIT FROM DISCONTINUING
OPERATIONS AFTER TAX |
0.000 |
10.396 |
0.000 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
510.638 |
438.755 |
294.967 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
595.412 |
510.638 |
438.755 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Exports at FOB |
4.715 |
2.112 |
1.770 |
|
|
|
|
Agency Commission |
27.889 |
26.760 |
52.197 |
|
|
|
|
Income from services rendered |
0.000 |
0.000 |
14.891 |
|
|
|
|
Others |
0.371 |
0.744 |
2.114 |
|
|
|
TOTAL EARNINGS |
32.975 |
29.616 |
70.972 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials and Components |
13.129 |
15.609 |
3.413 |
|
|
|
|
Capital Goods |
1.101 |
0.000 |
0.000 |
|
|
|
TOTAL IMPORTS |
14.23 |
15.609 |
3.413 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
848.74 |
718.84 |
1438.00 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.76 |
7.08 |
8.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.12 |
10.93 |
13.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.48 |
13.28 |
23.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.18 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.01 |
3.63 |
1.78 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
COMPANY
INFORMATION:
The company is a Private Limited company started in 1987 with 40% equity
participation by Elkem AS Norway and as on date it is a 100% owned Subsidiary company
of Elkem AS Norway. Elkem AS Norway is owned by China National Bluestar (Group)
Company limited, which is owned by China National Chemical Corporation (80%)
and Blackstone Group (20%). The company is mainly engaged in trading operations
which includes import purchase from Eikem group companies an`d eventual sales
in local area, marketing Elkem’s products, viz Microsilica to refractory and
construction industries, Foundry alloys to Foundry industries, carbon bared
products to the ferro alloy and aluminum industries and Silicon Metal to
Aluminum and Automotive industries.
The Board of Directors at their meeting held on March 3, 2011, resolved
to sell the company's Barregaard. Sapa Heat Transfer and Sapa Building System
building on a going concern basis. The disposal is consequential to a global
rate of a few of the business units of Orkla ASA. Accordingly, the Company had
entered into a Business Transfer Agreement (BTA) for sale of the aforesaid
business on a slump ale basis with effect from April 5, 2011
Financial Performance:
Financial year 2012-2013 saw a lot of challenges in the economic
situation of the country. Growth has slowed down, high. Interest rates
primarily to combat inflation over the last 18 months, supply constraints,
political uncertainty, slow progress in reforms has all added to the slowing
growth. Slow progress on making available core critical requirements for the
industry like ores, coal, power, oil etc has compounded the problems. GDP
growth has reduced from 6.2% to 5% in the financial year 2012-2013 and
2013-2014 forecasts are being lowered to 5.5%. Liquidity continues to be a
concern for the industry and our customer and the Company is taking steps
control our exposure. These developments affect the Company's growth and performance.
The Company imports most of the raw materials and finished goods. The
volatile exchange rates and the depreciating Indian Rupee has hurt the Company
where we have not been able to pass on the increased costs completely. Despite this,
the Company has done well to slightly increase the volumes inspite of increased
competition, economic slowdown and uncertainty in demand. The Company is doing
best by offering products mix, vast portfolio of products available with added
advantage of technical quality strength of products making key differentiation
compared to competitors. The Company has taken steps to add Bluestar Silicone
Products to the portfolio, the benefits of which will be seen in 2014-2015
onwards.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90149787 |
06/10/2000 |
5,000,000.00 |
ANDHRA BANK |
PERSIPOLIES BUILDING, MUMBAI,
Maharashtra, INDIA |
- |
|
2 |
90151516 |
16/08/2000 |
5,000,000.00 |
ANDHRA BANK |
PERSIPOLIES BUILDING, MUMBAI,
Maharashtra, INDIA |
- |
|
3 |
90151515 |
19/07/2000 |
690,000.00 |
ANDHRA BANK |
PERSIPOLIES BUILDING, MUMBAI,
Maharashtra, INDIA |
- |
|
4 |
90150743 |
22/12/1999 |
14,900,000.00 |
ANDHRA BANK |
PERSIPOLIES BUILDING, MUMBAI,
Maharashtra, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Office Premises
·
Office Equipment
·
Plant and Furniture
·
Motor Vehicles
·
Electrical Fitting
·
Computer Software
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.62.69 |
|
|
1 |
Rs.102.97 |
|
Euro |
1 |
Rs.84.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
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.