MIRA
INFORM REPORT
|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOYOTETSU INDIA AUTO PARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Onsite Supplier Park, Building No.7, Toyota Kirloskar Motor Private Limited,
Plot No.1, Bidadi-562 109, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.12.2008 |
|
|
|
|
Com. Reg. No.: |
08-048504 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1700.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300KA2008PTC048504 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRT06986A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT0768L |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject engaged in Manufacturing of Auto-Parts, Dies, Checking
Fixtures and Jigs. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4336400 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There incurred huge accumulated losses recorded by the company during 2013. However, the company has achieved better growth in its sales during
2013. The capital base seems to be strong. Trade relations are reported to be fair. Business is active. Payments
are slow. The company can be considered for business dealings with some caution.
|
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 / Factory : |
Onsite Supplier Park, Building No.7, Toyota Kirloskar Motor Private
Limited, Plot No.1, Bidadi-562109, Karnataka, India |
|
Tel. No.: |
91-80-27287159 |
|
Fax No.: |
91-80-27287153 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Kobashi Masaaki |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
No. 102, Capricon, CV Raman Road, Sadashiv Nagar, Bangalore-560 080,
Karnataka, India |
|
Date of Birth/Age : |
24.04.1957 |
|
Date of Appointment : |
15.04.2009 |
|
DIN No.: |
02648896 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U34300KA2008PTC048504 |
TOYOTETSU
INDIA AUTO PARTS PRIVATE LIMITED |
Director |
28-07-11 |
15-04-09 |
Active |
NO |
|
2 |
U34300KA1998PTC024464 |
STANZEN
TOYOTETSU INDIA PRIVATE LIMITED |
Managing
director |
01-08-12 |
12-08-09 |
Active |
NO |
|
Name : |
Nobuaki Yamasaki |
|
Designation : |
Managing Director |
|
Address : |
No.29, 34th Main BTM Layout, 2nd Stage,
Bangalore-560076, Karnataka, India |
|
Date of Birth/Age : |
15.09.1958 |
|
Date of Appointment : |
27.07.2011 |
|
Date of Cessation : |
31.08.2012 |
|
DIN No.: |
03578518 |
|
|
|
|
Name : |
Manabu Yamamoto |
|
Designation : |
Whole Time Director |
|
Address : |
No.29, 34th Main BTM Layout, 2nd Stage,
Bangalore-560076, Karnataka, India |
|
Date of Birth/Age : |
11.05.1962 |
|
Date of Appointment : |
27.07.2011 |
|
DIN No.: |
03578516 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U34300KA2008PTC048504 |
TOYOTETSU
INDIA AUTO PARTS PRIVATE LIMITED |
Whole-time
director |
28-07-11 |
27-07-11 |
Active |
NO |
|
2 |
U34300KA1998PTC024464 |
STANZEN
TOYOTETSU INDIA PRIVATE LIMITED |
Director
appointed in casual vacancy |
30-08-12 |
30-08-12 |
Active |
NO |
|
Name : |
Satoru Hashimoto |
|
Designation : |
Whole Time Director |
|
Address : |
No. 101, 1st Floor, Vasvani Exotica, Papanna Street,
Bangalore-560001, Karnataka, India |
|
Date of Birth/Age : |
17.11.1961 |
|
Date of Appointment : |
01.02.2013 |
|
DIN No.: |
06531470 |
|
|
|
|
Name : |
Mr. Shingo Shishkura |
|
Designation : |
Director |
|
Address : |
G 906, Brigade Gate, Way 26/1, Rajkumar Road, Bangalore-560055, Karnataka,
India |
|
Date of Birth/Age : |
19.05.1959 |
|
Date of Appointment : |
15.05.2012 |
|
DIN No.: |
03581399 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U34300KA1998PTC024464 |
STANZEN
TOYOTETSU INDIA PRIVATE LIMITED |
Whole-time
director |
28-07-11 |
28-07-11 |
Active |
NO |
|
2 |
U34300KA2008PTC048504 |
TOYOTETSU
INDIA AUTO PARTS PRIVATE LIMITED |
Director |
30-07-12 |
15-05-12 |
Active |
NO |
|
Name : |
Mr. Yoshimasa Sugimoto |
|
Designation : |
Director |
|
Address : |
No.1 D, Thomas Maner No.88, Richmond Road, Bangalore-560025,
Karnataka, India |
|
Date of Birth/Age : |
15.05.1963 |
|
Date of Appointment : |
15.05.2012 |
|
DIN No.: |
02727011 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U34300KA1998PTC024464 |
STANZEN
TOYOTETSU INDIA PRIVATE LIMITED |
Whole-time
director |
16-07-12 |
16-07-09 |
Active |
NO |
|
2 |
U34300KA2008PTC048504 |
TOYOTETSU
INDIA AUTO PARTS PRIVATE LIMITED |
Director |
30-07-12 |
15-05-12 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Stanzen Techno Private Limited, India |
|
760000 |
|
Toyoda Iron Works Company Limited, Japan |
|
169290000 |
|
|
|
|
|
TOTAL
|
|
170050000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.55 |
|
Bodies
corporate |
|
0.45 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in Manufacturing of Auto-Parts, Dies, Checking
Fixtures and Jigs. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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Bankers : |
Not Available |
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|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
5th Floor, Tower D, The Millenia, 1and 2, |
|
PAN No: |
AADF9359C |
|
|
|
|
Holding Company : |
Toyoda Iron
Works Company Limited, Japan |
|
|
|
|
Fellow Subsidiaries : |
Stanzen Toyotetsu
India Private Limited [U34300KA1998PTC024464] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
171000000 |
Equity Shares |
Rs.10/- each |
Rs.1710.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
170050000 |
Equity Shares |
Rs.10/- each
|
Rs.1700.500
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 |
1700.500 |
760.000 |
760.000 |
|
(b) Reserves & Surplus |
(616.394) |
(402.185) |
(187.189) |
|
(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) |
1084.106 |
357.815 |
572.811 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
1359.288 |
1705.860 |
1010.610 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
27.932 |
29.498 |
23.961 |
|
Total Non-current
Liabilities (3) |
1387.220 |
1735.358 |
1034.571 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
166.259 |
170.971 |
81.817 |
|
(c)
Other current liabilities |
278.312 |
46.437 |
29.474 |
|
(d) Short-term
provisions |
13.756 |
31.673 |
25.932 |
|
Total Current
Liabilities (4) |
458.327 |
249.081 |
137.223 |
|
|
|
|
|
|
TOTAL |
2929.653 |
2342.254 |
1744.605 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1299.373 |
1687.316 |
1245.330 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
1.110 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
13.936 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
27.302 |
17.499 |
2.505 |
|
(e) Other
Non-current assets |
0.000 |
6.332 |
8.355 |
|
Total Non-Current
Assets |
1327.785 |
1711.147 |
1270.126 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
28.777 |
35.085 |
34.559 |
|
(c)
Trade receivables |
211.212 |
203.500 |
171.470 |
|
(d) Cash
and cash equivalents |
1222.907 |
234.455 |
134.639 |
|
(e) Short-term
loans and advances |
119.173 |
151.486 |
125.093 |
|
(f)
Other current assets |
19.799 |
6.581 |
8.718 |
|
Total
Current Assets |
1601.868 |
631.107 |
474.479 |
|
|
|
|
|
|
TOTAL |
2929.653 |
2342.254 |
1744.605 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1223.311 |
|
|
|
|
Other Income |
|
13.355 |
|
|
|
|
TOTAL (A) |
1346.287 |
1236.666 |
257.549 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1248.071 |
1135.177 |
337.980 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
98.216 |
101.489 |
(80.431) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.487 |
30.575 |
5.439 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
62.729 |
70.914 |
(85.870) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
276.938 |
285.674 |
79.762 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(214.209) |
(214.760) |
(165.632) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.235 |
(4.327) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(214.209) |
(214.995) |
(161.305) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(402.184) |
(187.189) |
(25.884) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(616.393) |
(402.184) |
(187.189) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.25) |
(2.83) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(15.91)
|
(17.39) |
(62.63) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(17.55) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.31)
|
(9.17) |
(9.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20)
|
(0.60) |
(0.29) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.25
|
4.77 |
1.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.50
|
2.53 |
3.45 |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
NOTE:
Registered office has been shifted from Toyota Techno Park, Plot No.20,
Bidadi Industrial Area, Bangalore-562106, Karnataka, India to the present address
w.e.f. 16.08.2010.
OPERATING RESULTS
AND OUTLOOK:
The Net Sales and
Other Income of the Company for the year has increased to Rs. 1346.287 Millions
as compared to Rs. 1236.666 Millions in the previous financial year registering
a growth of 8.86% on annualized basis. The Profit before Interest and
Depreciation of the Company increased to Rs. 98.394 Millions during the year as
compared to Rs. 42.587 Millions in the previous year registering an increase of
130.62% on annualized basis mainly on account of cost control measures
resulting in reduction of fixed expenses and recorded a cash profit of Rs.
62.729 Millions as compared to a cash profit of Rs. 12.012 Millions during the
previous year. The Company has incurred Loss of Rs. 214.031 Millions before tax
and prior period item during the year as against loss of Rs. 273.662 Millions -
in the previous year registering a decline of 21.73% on annualized basis. The
Net Loss after Prior Period item and Tax is Rs. 214.031 Millions during the
year as compared to Rs. 214.995 Millions in the previous year.
The fortunes of
the Automotive Components segments are linked to the performance of Automobile
industry. The Indian Auto market is expected to be one of the fastest growing
auto markets in the medium to long term Also, the Indian automotive
manufacturing base is increasingly becoming a global manufacturing hub for both
OEMs and component makers. Toyota Kirloskar Motors their main customer has long
term growth plans to be a major player in the Indian Market as well as to
increase its exports of automobiles which it started last year, and they
envisage increase in demand for components for existing and new models of
vehicles over the years. Their company wants to take advantage of this
opportunity and to make further progress in capacity increase, has raised a
further capital of Rs. 940.500 Millions during the year by issue of Rights
Shares.
FIXED ASSETS:
·
Building
·
Plant and machinery
·
Computer Systems
·
Office Equipments
·
Furniture and Fixture
·
Motor Vehicle
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] 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.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.