MIRA
INFORM REPORT
|
Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ATC TIRES PRIVATE LIMITED [w.e.f. 26.03.2008] |
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|
Formerly Known As : |
NM TYRES PRIVATE LIMITED |
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Registered Office : |
Unit No. T-6 and 7, 5th Floor, |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
18.07.2007 |
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Com. Reg. No.: |
11-172456 |
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Paid up Capital : |
Rs.149.434 Millions |
|
|
|
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CIN No.: [Company
Identification No.] |
U25111MH2007PTC172456 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN15214D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engages in the development, manufacture, and sale of
agricultural, forestry, construction, industrial, and off-the-road tires and also engaged
in providing management, marketing consultancy and business support
services. |
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|
|
|
No. of Employees : |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000000 |
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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 a part of “Alliance Tire Group”, an entity in the global
OTR tires business. It is a well-established company having a good track record. Financial position of the company seems to be good during 2013. Rating also takes into account the companies experienced businessmen
and its group companies. Trade relations are reported to be fair. Business is active. Payment
are reported to be regular and as per commitments. The company can be considered normal 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: A |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk. |
|
Date |
17.09.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A2+ |
|
Rating Explanation |
Have strong degree of safety and carry low credit risk. |
|
Date |
17.09.2013 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Pankaj Maharaj |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-39579600 |
|
Date : |
05.02.2014 |
LOCATIONS
|
Registered / Corporate Office : |
Unit No. T-6 and 7, 5th Floor, High Street, Phoenix A Wing,
462, Senapati Bapat Marg, Lower Parel, Mumbai-400013, Maharashtra, India |
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Tel No.: |
91-22-39579600 |
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Fax No.: |
91-22-39579699 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Plot No. A-2, SIPCOT Industrial Growth Centre, Gangaikondan,
Tirunelveli-627352, Tamilnadu, India |
|
|
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|
Greenfield tire
plant: |
Located at Gujarat, India |
DIRECTORS
As on 08.08.2013
|
Name : |
Mr. Ashokkumar Purushottamdas Mahansaria |
|
Designation : |
Managing Director |
|
Address : |
B-202, Anand, Tirupati Apartment, |
|
Date of Birth/Age : |
12.12.1951 |
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Qualification: |
Inter Science |
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Experience: |
42 Years |
|
Date of Appointment : |
29.08.2007 |
|
00090785 |
|
|
|
|
|
Name : |
Mr. Yogesh Ashokkumar Mahansaria |
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Designation : |
Director |
|
Address : |
B-202, Anand, Tirupati Apartment, |
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Date of Birth/Age : |
13.09.1975 |
|
Qualification: |
B.Com |
|
Experience: |
18 Years |
|
Date of Appointment : |
29.08.2007 |
|
DIN No.: |
00090323 |
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|
|
|
Name : |
Mr. Joseph Yong Bum Bae |
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Designation : |
Director |
|
Address : |
House1,33 Island Road, Deep Water Way, Hongkong |
|
Date of Birth/Age : |
12.01.1972 |
|
Date of Appointment : |
26.06.2013 |
|
DIN No.: |
03343193 |
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|
|
|
Name : |
Mr. Sanjay Omprakash Nayar |
|
Designation : |
Director |
|
Address : |
Flat No. 9 The Rushilla Co-Operative Housing Society Limited, 17/C Carmichael Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1960 |
|
Date of Appointment : |
26.06.2013 |
|
DIN No.: |
00002615 |
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|
|
|
Name : |
Mr. Gajendra Singh Kushwaha |
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Designation : |
Whole-time director |
|
Address : |
19, Shree Rag Township, Near Narmda College, Zadeshwar Tavra Road, Zadeshwar, Bharuch – 392011, Gujarat, India |
|
Date of Birth/Age : |
05.07.1953 |
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Qualification: |
B.Sc, B.E. (Mechanical) |
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Experience: |
34 Years |
|
Date of Appointment : |
02.09.2009 |
|
DIN No.: |
02772542 |
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|
|
|
Name : |
Mr. Heramb Ravindra Hajarnavis |
|
Designation : |
Director |
|
Address : |
61 Apsara Bhojwani Nargis Dutt Road Pali Hill, Near Dilip Kumar Bunglows Bandra West, Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1974 |
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Date of Appointment : |
26.06.2013 |
|
DIN No.: |
01680435 |
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|
|
|
Name : |
Mr. Akhil Puri |
|
Designation : |
Director |
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Address : |
Unit 32, Apsara, Bhojwani Enclave, Nargis Dutt Road, Pali Hill, Bandra (East), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1975 |
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Date of Appointment : |
26.06.2013 |
|
DIN No.: |
06612755 |
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|
Name : |
Scott David Bookmyer |
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Designation : |
Director |
|
Address : |
#26a, Hartson, The Republic Bay, 109, Repulse Bay Road, Hongkong |
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Date of Birth/Age : |
28.06.1970 |
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Date of Appointment : |
28.06.2013 |
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DIN No.: |
06618432 |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj Maharaj |
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Designation : |
Finance Department |
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|
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|
Name : |
Mr. Damodar Rathi |
|
Designation : |
Company Secretary |
|
Address : |
C-210, Axita Co-operative Housing Society Limited, RNP Park, Jessal
Park Road, Bhayender, Thane - 401105, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1989 |
|
Date of Appointment : |
11.12.2007 |
|
PAN No.: |
ACGPR7336G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Turgco Limited, Cyprus |
|
14943357 |
|
Atc Secretaries Limited, Cyprus |
|
1 |
|
|
|
|
|
Total |
|
14943358 |
Equity Share Break up (Percentage of Total Equity)
As on 08.08.2013
|
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 : |
Subject is engages in the development, manufacture, and sale of
agricultural, forestry, construction, industrial, and off-the-road tires and also engaged
in providing management, marketing consultancy and business support
services. |
||||
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Products : |
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PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tyres |
Nos. |
566500 |
225827 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Axis Bank Limited, 2nd Floor, Axis House, Bombay Dying Mills Compound, P.B. Marg, Worli, Mumbai – 400025, Maharashtra, India ·
Export-Import Bank of India, Centre One, Floor
21, World Trade Centre, Cuffe Parade, Mumbai-400005, Maharashtra, India ·
ICICI Bank Limited, Landmarkrace Cource
Circle, Alkapuri, Baroda - 390015, Gujarat, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Lovelock and Lewes , 252 Veer Savarkar Marg, Shivaji
Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP5579P |
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Holding company: |
Turgco Limited |
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Subsidiary: |
Qingdao Alliance Tire Company Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14943358 |
Equity Shares |
Rs.10/- each |
Rs.149.434
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 |
149.434 |
132.876 |
132.876 |
|
(b) Reserves & Surplus |
4878.702 |
1897.118 |
1450.388 |
|
(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) |
5028.136 |
2029.994 |
1583.264 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
933.429 |
1382.486 |
1559.785 |
|
(b) Deferred tax liabilities (Net) |
88.602 |
75.869 |
56.196 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
158.237 |
212.167 |
27.320 |
|
Total Non-current Liabilities (3) |
1180.268 |
1670.522 |
1643.301 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1049.610 |
1347.190 |
869.937 |
|
(b) Trade payables |
610.970 |
567.975 |
386.232 |
|
(c) Other current
liabilities |
555.610 |
614.149 |
456.949 |
|
(d) Short-term provisions |
222.011 |
91.991 |
63.745 |
|
Total Current Liabilities (4) |
2438.201 |
2621.305 |
1776.863 |
|
|
|
|
|
|
TOTAL |
8646.605 |
6321.821 |
5003.428 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3098.225 |
2450.390 |
2320.864 |
|
(ii) Intangible Assets |
7.001 |
6.999 |
8.760 |
|
(iii) Capital
work-in-progress |
554.352 |
256.551 |
252.209 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.301 |
3.301 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
538.800 |
647.412 |
84.457 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4201.679 |
3364.653 |
2666.290 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
283.277 |
0.000 |
228.467 |
|
(b) Inventories |
1741.841 |
1527.464 |
1187.486 |
|
(c) Trade receivables |
1521.867 |
1371.935 |
756.940 |
|
(d) Cash and cash
equivalents |
806.933 |
20.583 |
44.288 |
|
(e) Short-term loans and
advances |
58.883 |
35.681 |
119.957 |
|
(f) Other current assets |
32.125 |
1.505 |
0.000 |
|
Total Current Assets |
4444.926 |
2957.168 |
2337.138 |
|
|
|
|
|
|
TOTAL |
8646.605 |
6321.821 |
5003.428 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sale of Products |
8861.700 |
6509.600 |
2631.800 |
|
|
|
Business Support Services Income |
157.100 |
130.100 |
NA |
|
|
|
Consultancy Income |
NA |
NA |
92.600 |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
|
|
|
|
Employee Costs |
|
|
|
|
|
|
Operating and other expenses |
|
|
|
|
|
|
TOTAL
(B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2295.100 |
740.700 |
264.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
299.000 |
252.900 |
202.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1996.100 |
487.800 |
62.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
74.200 |
41.100 |
28.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1921.900 |
446.700 |
33.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
NA |
2695.600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
128.61 |
NA |
2.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
22.53
|
7.49 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.68
|
8.05 |
1.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.24 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.34
|
1.34 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82
|
1.13 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
448.920 |
448.920 |
322.400
|
|
|
|
|
|
|
Total |
448.920 |
448.920 |
322.400
|
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: The registered office of the company has been shifted from 105, Creative Industrial Estate, 72, N. M. Joshi Marg, Mumbai-400092, Maharashtra, India to the present address w.e.f.15.03.2012.
PROJECT:
During the year, the Company has taken in hand following Projects:
i) Enhancing the production capacity at its Tamilnadu Plant from 61,000 Tons per annum to 90,000 Tons per annum to be completed by mid 2014.
ii) Setting of its Second Green-Field Tyre Manufacturing Plant in the State of Gujarat with a total production capacity of 50,000 Tons per annum, whose 1st phase is scheduled to be commissioned in the 3rd quarter of the calendar year 2014.
In view of the Tie-ups with Private Power Producers on a month to month basis resulting into easier availability of Power at an affordable cost as well as stoppage of its DG Operations, the Company is reviewing the advisability of setting up its Co-Generation Plant, which was earlier envisaged.
OPERATIONS:
The Company mainly operates in the Off-Highway Tyres segment.
During the year, the Sales Revenue was Rs 8861.700 Millions and the Business Support Services Income was placed at Rs 157.100 Millions as compared to Rs 6509.600 Millions and Rs. 130.100 Millions respectively in the previous year.
During the year, the Profit before Depreciation and Tax was Rs. 2295.100 Millions Crores and the Profit after tax was Rs 1921.900 Millions compared to Rs 740.700 Millions and Rs 446.700 Millions respectively during the previous year.
OUTLOOK FOR THE
CURRENT YEAR 2013-14
The demand for OHT tyres in the Company’s key markets of Europe and North America has been affected by adverse weather conditions as well as global economic crisis. Despite these external challenges, the Company maintains a positive outlook on its growth targets due to high quality of its products combined with competitive pricing. The Company currently has an order backlog of 2 months of production.
The Company is presently operating at capacity utilization in excess of 70% of the Current Installed Capacity, and expects to improve the capacity utilization in the coming times.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10422656 |
29/04/2013 * |
5,789,727,590.00 |
AXIS BANK LIMITED |
2ND FLOOR, AXIS
HOUSE, BOMBAY DYEING MILLS COMPO UND, P.B. MARG, WORLI, MUMBAI, MAHARASHTRA -
400025, INDIA |
B74220252 |
|
2 |
10136380 |
23/01/2014 * |
3,554,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, AXIS
HOUSE, BOMBAY DYEING MILLS COMPOUND, P.B. MARG, WORLI, MUMBAI, MAHARASHTRA -
400025, INDIA |
B95303327 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Leasehold improvements
Intangible assets
· 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.62.45 |
|
|
1 |
Rs.102.01 |
|
Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
52 |
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.