MIRA
INFORM REPORT
|
Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
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Registered Office : |
Tower XIV, Cyber City, Magarpatta City Hadapsar, Pune – 411 013,
Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
12.12.1997 |
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Com. Reg. No.: |
11- 112441 |
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Capital Investment
/ Paid-up Capital : |
Rs.3448.574
Millions |
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CIN No.: [Company
Identification No.] |
U74220PN1997PTC112441 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ00773D |
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PAN No.: [Permanent Account No.] |
AAACJ4233B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is
mainly engaged in the manufacturing and marketing of tractor and related
products (agriculture products) and providing IT and IT enabled services. |
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No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 71667700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
The company has earned fair profitability from its operation during the
financial year 2013. Liquidity position of the company reported to be sound. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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. Ram Krishna |
|
Designation : |
Finance Officer |
|
Contact No.: |
91-9687631126 |
|
Date : |
14.02.2014 |
LOCATIONS
|
Registered
Office : |
Tower XIV, Cyber City, Magarpatta City Hadapsar, Pune – 411 013,
Maharashtra, India |
|
Tel. No.: |
91-20-66425013/ 66425000/ 67264510 |
|
Mobile No.: |
91-9687631126 [Mr. Ram Krishna] |
|
Fax No.: |
91-20-66425001 |
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E-Mail : |
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Website : |
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Factory 1: |
Parts Distn. Center, G.No.181 and 182, Off Pune Nagar Road, Sanas,
Pune, Maharashtra, India |
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Factory 2: |
166-167, Gate No. 271-291, At Post Sanawadi, Taluka – Shirur, Pune –
412 208, Maharashtra, India |
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Plant : |
Block No. 593/B, Village Vadu, Taluka Padra, District Vadodara,
Gujarat, India |
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Tel No.: |
91-2662-679000/679018 |
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Fax No.: |
91-2662-267115 |
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Area Sales
Office : |
44, Alankar Tower, 1st Floor, Sayaji Ganj, Vadodara – 390 005,
Gujarat, India |
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Tel No.: |
91-264-6444176/ 177 |
DIRECTORS
AS ON 04.05.2013
|
Name : |
Mr. Satish Bhimarao Nadiger |
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Designation : |
Managing Director |
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|
Address : |
No.601, Building A3, Aditya Shagun, NDA, Pashan Road, Bavadhan, Pune –
411 021, Maharashtra, India |
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Date of Birth/Age : |
13.01.1963 |
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Date of Appointment : |
30.08.2012 |
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Din No.: |
00633892 |
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Other Directorship:
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Name : |
Mr. Ravi Achyutha Menon |
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|
Designation : |
Director |
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|
Address : |
606, Cosmos Building R, Magar, Patta City, Hadapsar, Pune – 411 028,
Maharashtra, India |
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Date of Birth/Age : |
15.07.1961 |
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Date of Appointment : |
13.07.2012 |
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Din No.: |
05344407 |
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Other Directorship:
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Name : |
Mr. Rajesh Kumar Sinha |
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Designation : |
Director |
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|
Address : |
Y-602, Sacred Heart Town, Waneworie, Pune-411040, Maharashtra, India |
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|
Date of Birth/Age : |
16.07.1969 |
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Date of Appointment : |
04.05.2013 |
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Din No.: |
06448595 |
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Other Directorship:
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Name : |
Mr. Ravi Chudamani Guttal |
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Designation : |
Director |
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Address : |
5021, Black Hawk Tran CT, Bettendore IA 411028, USA |
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Date of Birth/Age : |
07.06.1967 |
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Date of Appointment : |
04.05.2013 |
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Din No.: |
06453125 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Ajit Prakash Jain |
|
Designation : |
Secretary |
|
Address : |
Flat No.602, Building D/1, Bramha Suncity, Vadgaon Sheri, Pune – 411 014,
Maharashtra, India |
|
Date of Birth/Age : |
13.07.1974 |
|
Date of Appointment : |
02.06.2012 |
|
Pan No.: |
ABMPJ8624L |
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|
|
|
Name : |
Mr. Ram Krishna |
|
Designation : |
Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 04.05.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
John Deere Asia (Singapore) Pte. Limited,
Singapore |
344857343 |
100.00 |
|
Deere and Company, US |
10 |
0.00 |
|
|
|
|
|
TOTAL
|
344857353 |
100.00 |
AS ON 04.05.2013
|
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] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
mainly engaged in the manufacturing and marketing of tractor and related
products (agriculture products) and providing IT and IT enabled services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
|
|
|
|
Bankers : |
·
Industrial Investment Bank of India Limited, 19,
Netaji Subhas Road, Kolkata – 700 001, West Bengal, India · State Bank of India, S.B. Road Branch, Pune, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Beasant Road, Opposite Shivsagar Industrial Estate,
Worli, Mumbai - 400018, Maharashtra, India |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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PAN No: |
ASDFG1234H |
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Holding Company : |
John Deere Asia Singapore Pte. Limited |
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Ultimate Holding Company: |
Deere and Company |
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Fellow
Subsidiaries : |
·
John Deere Werke Mannheim ·
John Deere Water Limited ·
John Deere (China) Incestment Company ·
John Deere (Jiamusi) Agricultural ·
Industrias John Deere S.A. de C.V. ·
John Deere Israel ·
John Deere Asia (Singapore) Pte Limited ·
John Deere (Pty) Limited ·
JD Worldwide C and F ·
John Deere Canada, ULC ·
John Deere Makinalari Limited, Sirketi ·
John Deere International GmbH ·
John Deere Polska Sp. Z O. O. |
|
|
|
|
Subsidiaries
: |
·
John Deere Financial India Private Limited ·
Deere Credit Services, Inc. ·
John Deere Canada Elk ·
John Deere (China) Investment Company, ·
John Deere Brasil Limited ·
John Deere S.A.S. ·
John Deere, Unite De Orleans-Saran ·
John Deere Iberica, S.A. Madrid ·
John Deere (Tianjin) Product Research ·
John Deere (Tianjin) Company, Limited ·
John Deere Brasil Ltda. ·
John Deere Enschede B.V. ·
Maschinenfabrik Kemper ·
John Deere(Ningbo) ·
Motores John Deere, S.A. De C.V. ·
Phoenix International ·
Industrias John Deere S.A. Decv ·
John Deere shared services Inc. ·
John Deere Thibodaux, Inc. ·
John Deere Fabriek Horst Bv ·
John Deere (Jiamusi) Agricultural ·
Deere Power Systems Group ·
John Deere (Pty.) Limited ·
John Deere Limited (England) ·
John Deere Ibérica, S.A. ·
John Deere Italiana S.R.L. ·
John Deere Tiantuo Company Limited ·
John Deere Limited Australia |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
653641000 |
Equity Shares |
Rs.10/- each |
Rs.6536.410 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
344857353 |
Equity Shares |
Rs.10/- each
|
Rs.3448.574
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 |
3448.570 |
3448.570 |
3448.570 |
|
(b) Reserves & Surplus |
14468.370 |
12562.040 |
9873.570 |
|
(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) |
17916.940 |
16010.610 |
13322.140 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
3799.950 |
3559.150 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
6.630 |
94.950 |
|
(c) Other long term
liabilities |
223.940 |
259.090 |
335.640 |
|
(d) Long-term
provisions |
358.540 |
283.040 |
210.080 |
|
Total Non-current
Liabilities (3) |
4382.430 |
4107.910 |
640.670 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
6506.610 |
6624.860 |
3676.700 |
|
(c)
Other current liabilities |
788.670 |
601.600 |
278.180 |
|
(d) Short-term
provisions |
1008.660 |
1113.120 |
696.800 |
|
Total Current
Liabilities (4) |
8303.940 |
8339.580 |
4651.680 |
|
|
|
|
|
|
TOTAL |
30603.310 |
28458.100 |
18614.490 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5720.740 |
4951.330 |
3417.580 |
|
(ii)
Intangible Assets |
16.450 |
18.030 |
11.920 |
|
(iii)
Capital work-in-progress |
1157.980 |
529.130 |
704.980 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
400.000 |
20.000 |
0.000 |
|
(c) Deferred tax assets (net) |
102.950 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
711.430 |
409.260 |
319.360 |
|
(e) Other
Non-current assets |
343.850 |
460.170 |
0.000 |
|
Total Non-Current
Assets |
8453.400 |
6387.920 |
4453.840 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4523.440 |
7313.010 |
3283.610 |
|
(c)
Trade receivables |
7861.800 |
7327.890 |
6189.950 |
|
(d) Cash
and cash equivalents |
4668.710 |
3952.520 |
2555.590 |
|
(e)
Short-term loans and advances |
4727.700 |
3230.390 |
2084.320 |
|
(f)
Other current assets |
368.260 |
246.370 |
47.180 |
|
Total
Current Assets |
22149.910 |
22070.180 |
14160.650 |
|
|
|
|
|
|
TOTAL |
30603.310 |
28458.100 |
18614.490 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
41780.000 |
39878.000 |
33440.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
38151.000 |
35392.000 |
28079.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3629.000 |
4486.000 |
5361.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
298.000 |
18.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3331.000 |
4468.000 |
5361.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
775.000 |
648.000 |
569.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2556.000 |
3820.000 |
4792.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
649.000 |
1132.000 |
1222.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1907.000 |
2688.000 |
3570.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7098.000 |
4410.000 |
840.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9005.000 |
7098.000 |
4410.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.53 |
7.79 |
10.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.56
|
6.74 |
10.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.83
|
13.69 |
26.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.23 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.21
|
0.22 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.67
|
2.65 |
3.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
3448.570 |
3448.570 |
3448.570 |
|
Reserves & Surplus |
9873.570 |
12562.040 |
14468.370 |
|
Net
worth |
13,322.140 |
16,010.610 |
17,916.940 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
3559.150 |
3799.950 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
3,559.150 |
3,799.950 |
|
Debt/Equity
ratio |
0.000 |
0.222 |
0.212 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
33440.000 |
39878.000 |
41780.000 |
|
|
|
19.252 |
4.770 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
33440.000 |
39878.000 |
41780.000 |
|
Profit |
3570.000 |
2688.000 |
1907.000 |
|
|
10.68% |
6.74% |
4.56% |
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 |
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 |
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] |
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:
The registered office of the company has been shifted from JHN Deere Technology Centre, Cyber City, Magarpatta
City, Hadapsar, Pune – 411 013, Maharashtra to present address w.e.f.
01.04.2010.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Term Loan From Other |
3799.950 |
3559.150 |
|
TOTAL
|
3799.950 |
3559.150 |
OPERATIONS:
Total domestic
tractor industry sale was 527,441 numbers against 536,886 numbers sold during the
last financial year. The company recorded total sales of 46,930 numbers of
tractors against 55,953 numbers of tractors sold during the previous year. In
the domestic market, the company recorded a sale of 29,801 units against 39,947
units sold during the last Financial Year recording a fall of 25.4%. Domestic
market share of the company was 5.7% in the current Financial Year compared to
7.4% during the previous Financial Year. The drop in sales was on account of
slowdown in the core market. The Company recorded total sales of 41 numbers of
grain harvester against 9 numbers of grain harvester sold during the previous
year from its Sirhind Combine manufacturing facility. The construction of the
new Tractor factory in Dewas, Madhya Pradesh has made significant progress and
the Company is expected to start production of Agricultural Tractors from the
upcoming plant in Financial Year 2013-14. During the year the Company continued
its progress in providing IT and IT enabled services. The business has created substantial
value to the parent company and is also the Net Positive Foreign Exchange
earner in the year. The Product Engineering Centre (PEC) continued to provide
Engineering Support. The Company continued to provide the best-in-class quality
products and innovative services to farmers, such as agricultural equipment,
micro irrigation, after-sales service and installation, advisory services.
AMALGAMATION:
In terms of the
Scheme of Amalgamation 'the Scheme' sanctioned by the Hon’ble High Court of Jurisdiction
at Mumbai vide its Order dated 27th November 2009 John Deere
Equipment Private Limited JDEPL a wholly owned subsidiary of the Company has
been amalgamated with the Company with effect from the appointed date viz. 1st
April 2010.
In accordance with
the said Scheme and the aforesaid order the following effect has been given in
the accounts of the Company for the year:
a. The assets
other than fixed assets and liabilities of JDEPL have been considered at their
respective book values on a going concern basis with effect from the appointed
date.
Fixed assets i.e.
gross block accumulated depreciation and the net block of the Company and JDEPL
have been restated in accordance with the corresponding values reported to the
Company’s Ultimate Holding Company which has been certified by a Chartered
Accountant. The difference aggregating to Rs.167.811 millions arising between
the restated values and corresponding book values have been adjusted in the
General Reserve.
Accordingly
the values of assets and liabilities transferred are as follows:
FIXED ASSETS:
Tangible Assets
·
Furniture and
Fixtures
·
Office Equipment
·
Computers
·
Building
·
Leasehold
Improvements
·
Motor Cars
·
Plant and Machinery
Intangible Assets
·
Software and
Licenses
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.62.27 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.