MIRA
INFORM REPORT
|
Report Date : |
26.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
COCHIN SHIPYARD LIMITED |
|
|
|
|
Registered
Office : |
Administrative Building, 39/6080 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.03.1972 |
|
|
|
|
Com. Reg. No.: |
09-002414 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1132.800
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63032KL1972HOI002414 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHNC00784A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Shipbuilding and Repair of Ships/Offshore
Structures. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 47028000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having fine track record.
The rating reflects strong financial risk profile supported by strong capital
structure, diversified revenue stream and strong liquidity profile. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
AA+ [Long Term Bank Facilities] |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
02.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1+ [Short Term Bank Facilities] |
|
Rating Explanation |
Very strong degree of safety and very low credit risk. |
|
Date |
02.12.2013 |
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 : |
Madam Rhea Mathew |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-484-2501473 / 2361500 |
|
Date : |
25.02.2014 |
LOCATIONS
|
Registered Office : |
Administrative Building, 39/6080 Cochin Shipyard Premises, Perumanoor
M. G. Road, Ernakulam - 682015, Kerala, India |
|
Tel. No.: |
91-484-2361181 |
|
Fax No.: |
91-484-2370897 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Subramaniam Kartik |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
77, Shankara Park, Bangalore-560004, Karnataka, India |
|
Date of Birth/Age : |
13.12.1955 |
|
Date of Appointment : |
04.06.2007 |
|
Din No.: |
01957227 |
|
|
|
|
Name : |
Mr. Ravi Kumar Roddam |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 201, Chitrakut Apartments, 1st CRS, 9th
MN KG Colony, GM Palya, Bangalore-560075, Karnataka, India |
|
Date of Birth/Age : |
12.04.1954 |
|
Date of Appointment : |
19.04.2010 |
|
Din No.: |
03086926 |
|
|
|
|
Name : |
Vinayakumar Kartha Prabhakara |
|
Designation : |
Whole Time Director |
|
Address : |
28/2454, (51/2180), Divyasree, Elenjeril Road, Kadavanthra,
Ernkulam-682020, Kerala, India |
|
Date of Birth/Age : |
22.05.1954 |
|
Date of Appointment : |
01.09.2011 |
|
Din No.: |
03606231 |
|
|
|
|
Name : |
Mr. Shyamsundar Ram Sharma |
|
Designation : |
Whole Time Director |
|
Address : |
# 302, Angre House, MDL Officers, Residential Complex, Dockyard Road,
Mazagon, Mumbai-400010, Maharashtra, India |
|
Date of Birth/Age : |
28.10.1957 |
|
Date of Appointment : |
21.11.2011 |
|
Din No.: |
05115372 |
|
|
|
|
Name : |
Mr. Gopal Chandrasekhar Gopala Pillai |
|
Designation : |
Director |
|
Address : |
S-1, Fact Township, Udyoganandal, Cochin-683501, Kerala, India |
|
Date of Birth/Age : |
01.03.1949 |
|
Date of Appointment : |
27.11.2012 |
|
Din No.: |
00083936 |
|
|
|
|
Name : |
Dr. Seetharaman Mohan |
|
Designation : |
Director |
|
Address : |
36, BPC Tower, 1-A, Altaount Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1951 |
|
Date of Appointment : |
27.11.2012 |
|
Din No.: |
02187956 |
|
|
|
|
Name : |
Mr. Raghuram Nookala |
|
Designation : |
Director |
|
Address : |
14/8, Police Line Street, Halayatham, Gudiyatham, Vellore-632602,
Tamilnadu, India |
|
Date of Birth/Age : |
27.12.1964 |
|
Date of Appointment : |
27.11.2012 |
|
Din No.: |
03540241 |
|
|
|
|
Name : |
Jauhari Chandra Munish |
|
Designation : |
Director |
|
Address : |
Room No. 406, Indian Ports, Association Guest House, New Delhi-110003,
India |
|
Date of Birth/Age : |
02.08.1962 |
|
Date of Appointment : |
31.01.2012 |
|
Din No.: |
05216913 |
|
|
|
|
Name : |
Lakshmi Narasimhan Vijayaraghavan |
|
Designation : |
Director |
|
Address : |
986, TVS Colony, Anna Nagar (West) Extension, Chennai-600101,
Tamilnadu, India |
|
Date of Birth/Age : |
26.09.1947 |
|
Date of Appointment : |
16.09.2011 |
|
Din No.: |
00752117 |
|
|
|
|
Name : |
Mr. Raman Mahalingam |
|
Designation : |
Director |
|
Address : |
3/686, Sriram Layout, Kuam Road, Chuvery Nagar, Ttivakkam, Chennai-600041,
Tamilnadu, India |
|
Date of Birth/Age : |
16.04.1951 |
|
Date of Appointment : |
25.01.2012 |
|
Din No.: |
01226770 |
|
|
|
|
Name : |
Mr. Sekharipuram Krishnan Kalyana Krishnan |
|
Designation : |
Director |
|
Address : |
15, Currie House, Mazagoock Officers, Residential Complex, Dockyard
Road, Mumbai-400010, Maharashtra, India |
|
Date of Birth/Age : |
26.07.1948 |
|
Date of Appointment : |
25.01.2012 |
|
Din No.: |
00340235 |
|
|
|
|
Name : |
George Elias |
|
Designation : |
Director |
|
Address : |
Kerala House, Janthar Mantar Road, New Delhi-110001, India |
|
Date of Birth/Age : |
06.10.1956 |
|
Date of Appointment : |
27.11.2012 |
|
Din No.: |
00204510 |
KEY EXECUTIVES
|
Name : |
Kala Chandrasekhar |
|
Designation : |
Secretary |
|
Address : |
706 F, Vrindavan Apartments, Vyttila Kochi, Ernakulam-682019, Kerala,
India |
|
Date of Birth/Age : |
28.05.1968 |
|
Date of Appointment : |
02.05.1998 |
|
Pan No.: |
ABXPV8696F |
|
|
|
|
Name : |
Madam Rhea Mathew |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
President of India |
113279700 |
100.00 |
|
Subramaniam Kartik |
100 |
0.00 |
|
Ravi Kumar Roddam |
100 |
0.00 |
|
M C Jauhari |
100 |
0.00 |
|
|
|
|
|
TOTAL
|
113280000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
0.01 |
|
Government
[Central and State] |
|
99.99 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Shipbuilding and Repair of Ships/Offshore
Structures. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
· State Bank of Travancore · State Bank of India · Syndicate Bank ·
Union Bank of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Menon and Ayyar Chartered Accountants |
|
Address : |
57/1059, Iyyattil Lane, Iyyattil Junction, Chitoor Road,
Ernakulam-682011, Kerala, India |
|
PAN No: |
AADFM9381K |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
130000000 |
Equity Shares |
Rs.10/- each |
Rs.1300.000 Millions |
|
1200000 |
Preferences Shares |
Rs.1000/- each |
Rs.1200.000 Millions |
|
|
TOTAL
|
|
Rs.2500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
113280000 |
Equity Shares |
Rs.10/- each
|
Rs.1132.800
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 |
1132.800 |
1524.220 |
1924.220 |
|
(b) Reserves & Surplus |
10624.224 |
8984.105 |
7753.757 |
|
(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) |
11757.024 |
10508.325 |
9677.977 |
|
|
|
|
|
|
(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 |
25.181 |
49.722 |
98.075 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
25.181 |
49.722 |
98.075 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
2549.777 |
3832.766 |
2280.006 |
|
(c)
Other current liabilities |
7476.432 |
9703.483 |
10694.518 |
|
(d) Short-term
provisions |
2017.248 |
1929.543 |
2815.342 |
|
Total Current
Liabilities (4) |
12043.457 |
15465.792 |
15789.866 |
|
|
|
|
|
|
TOTAL |
23825.662 |
26023.839 |
25565.918 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2471.795 |
1924.799 |
1903.557 |
|
(ii)
Intangible Assets |
1.260 |
1.295 |
3.191 |
|
(iii)
Capital work-in-progress |
1380.084 |
636.179 |
371.700 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.918 |
1.918 |
1.918 |
|
(c) Deferred tax assets (net) |
4.726 |
97.157 |
231.247 |
|
(d) Long-term Loan and Advances |
22.432 |
61.379 |
66.143 |
|
(e) Other
Non-current assets |
664.692 |
574.599 |
812.513 |
|
Total Non-Current
Assets |
4546.907 |
3297.326 |
3390.269 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3568.587 |
3625.366 |
2347.588 |
|
(c)
Trade receivables |
6802.307 |
7799.210 |
11026.053 |
|
(d) Cash
and cash equivalents |
7039.649 |
9088.960 |
6902.509 |
|
(e)
Short-term loans and advances |
633.895 |
1416.415 |
733.784 |
|
(f)
Other current assets |
1234.317 |
796.562 |
1165.715 |
|
Total
Current Assets |
19278.755 |
22726.513 |
22175.649 |
|
|
|
|
|
|
TOTAL |
23825.662 |
26023.839 |
25565.918 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15541.600 |
14048.515 |
14617.153 |
|
|
|
Other Income |
881.700 |
766.933 |
1274.588 |
|
|
|
TOTAL (A) |
16423.300 |
14815.448 |
15891.741 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
6719.258 |
7159.008 |
|
|
|
Changes in Inventories of Work-in-progress |
|
169.999 |
(136.279) |
|
|
|
Sub Contract and Other Direct Expenses |
13244.400 |
2160.703 |
1937.399 |
|
|
|
Employee Benefits Expense |
|
1661.122 |
1664.962 |
|
|
|
Other Expenses |
|
1201.130 |
1266.580 |
|
|
|
Provision for Anticipated Losses and Expenditure |
|
61.607 |
99.596 |
|
|
|
Expenses Allocated to Capital Works |
|
0.000 |
(2.191) |
|
|
|
TOTAL (B) |
13244.400 |
11973.819 |
11989.075 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2178.900 |
2841.629 |
3902.666 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
231.300 |
131.209 |
289.809 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2947.600 |
2710.420 |
3612.857 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
192.100 |
180.727 |
170.560 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2755.500 |
2529.693 |
3442.297 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
902.800 |
806.424 |
1167.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1852.700 |
1723.269 |
2275.277 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Income from shipbuilding |
6125.155 |
6771.997 |
9016.535 |
|
|
TOTAL EARNINGS |
6125.155 |
6771.997 |
9016.535 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3726.145 |
3894.284 |
3829.323 |
|
|
|
Stores & Spares |
1706.870 |
655.290 |
547.698 |
|
|
|
Capital Goods |
4.386 |
260.306 |
205.763 |
|
|
TOTAL IMPORTS |
5437.401 |
4809.880 |
4582.784 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.35 |
15.21 |
20.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.28
|
11.63 |
14.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.73
|
18.01 |
23.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.27
|
10.00 |
13.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.24 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.47 |
1.40 |
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 |
1924.220 |
1524.220 |
1132.800 |
|
Reserves & Surplus |
7753.757 |
8984.105 |
10624.224 |
|
Net
worth |
9,677.977 |
10,508.325 |
11,757.024 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Sales |
14617.153 |
14048.515 |
15541.600 |
|
|
|
(3.890) |
10.628 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
14617.153 |
14048.515 |
15541.600 |
|
Profit |
2275.277 |
1723.269 |
1852.700 |
|
|
15.57% |
12.27% |
11.92% |
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
LITIGATION
DETAILS:
|
KERALA HIGH COURT CASE STATUS INFORMATION SYSTEM
CASE UPDATED ON: TUESDAY, MARCH 26, 2013 |
||||||||||||||||||||||||||||||
FINANCIAL
PERFORMANCE:
The Performance of
Cochin Shipyard Limited continued to be good during the year 2012-13. The
turnover for the year was at Rs.15541.600 crores as compared to Rs.14048.500
Millions in the year 2011-12. The net profit was Rs.1852.700 Millions as
compared to Rs.1723.300 Millions for the previous year. This performance is
creditable considering the economic recessionary conditions and the downturn in
the shipping and ship building sector.
FIXED ASSETS:
· Land (Freehold)
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Docks and Quays
· Railway sidings
· Electrical Installation
· Drainage and water supply
· Vessels
· Books
· 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.61.97 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
70 |
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.