|
Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
PIAGGIO VEHICLES PRIVATE LIMITED (w.e.f. 01.04.2002) |
|
|
|
|
Formerly Known
As : |
PIAGGIO GREAVES VEHICLES LIMITED (w.e.f.15.05.1998) PIAGGIO GREAVES VEHICLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-2, M.I.D.C. Industrial Area, Baramati, Pune – 413 133, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.02.1998 |
|
|
|
|
Com. Reg. No.: |
11-113606 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.340.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34102MH1998PTC113606 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP1225G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing of automobile products
consisting of three wheeled, four wheeled motor vehicles and engines. |
|
|
|
|
No. of Employees
: |
3500 (Approximately) [Contract = 2000 +
Permanent Basis = 1500] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a joint venture (JV) of Greaves Limited (Greaves) and P
& C, Italy. It is a well-established company having fine track record. The rating reflect Piaggio’s established market position in the
three-wheeler segment, its large scale of operations and healthy operating
profitability. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered normal 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.
INDIAN ECONOMIC OVERVIEW
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top three investors
likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
22.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
22.10.2013 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ashok Dnyanoba Medankar |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-20-30518320 |
|
Date: |
02.01.2014 |
LOCATIONS
|
Registered Office/ Factory : |
E-2, M.I.D.C. Industrial Area, Baramati, Pune – 413 133, Maharashtra,
India |
|
Tel. No.: |
91-2112-243770/ 304200/ 343730 |
|
Fax No.: |
91-2112-243772/ 243323/ 243198 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
102, “PHOENIX” Bund Garden Road, Pune – 411 001, Maharashtra, India |
|
Tel. No.: |
91-20-66013150/ 30518300 |
|
Fax No.: |
91-20-66013157/ 26134972 |
|
E-Mail : |
|
|
|
|
|
Sales Office
: |
A-1, Site “B”, Surajpur Industrial Area, District Gautam Budha Nagar,
Greater Noida – 201 306, Uttar Pradesh, India |
|
|
|
|
Regional Office
: |
Located at: ·
Delhi ·
Mumbai ·
Chennai ·
Kolkata ·
Pune ·
Hyderabad ·
Patna ·
Bhopal ·
Bangalore ·
Cochin |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ravindersing Gurucharansingh Chopra |
|||||||||||||||||||||||||||
|
Designation : |
Chairman cum Managing Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No. A-101, Palladium SN No. 468C, Mangaldas Road, Pune – 411 001,
Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.03.1943 |
|||||||||||||||||||||||||||
|
Qualification : |
BE (Mechanical) AMP-Harvard Business School, USA |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.1998 |
|||||||||||||||||||||||||||
|
DIN No.: |
01680496 |
|||||||||||||||||||||||||||
|
PAN No.: |
AAYCP7294E |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Michele Colaninno |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Via Bertani, Mantova 3146100, Italy |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.11.1976 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2011 |
|||||||||||||||||||||||||||
|
DIN No.: |
03142555 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Gabriele Gianni Galli |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
Via Sani Giuseppe, 24 Lerici, Italy |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.06.1969 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
28.09.2012 |
|||||||||||||||||||||||||||
|
DIN No.: |
05105874 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Ulisse Spada |
|||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||
|
Address : |
Viale Rinaaldo, Piaggio 25, Pontedera Pisa, Italy 056025 |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.03.1966 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
28.09.2012 |
|||||||||||||||||||||||||||
|
DIN No.: |
05236512 |
|||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ashok Dnyanoba Medankar |
|
Designation : |
Company Secretary |
|
Address : |
165/10, Mira Society, Salisbury Park, Pune – 411 037, Maharashtra,
India |
|
Date of Birth/Age : |
29.11.1960 |
|
Date of Appointment : |
22.07.2004 |
|
PAN No.: |
ABAPM3785F |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Piggio and C SPA, Italy |
|
34936999 |
|
Piaggio Vespa BV, The Netherlands |
|
1 |
|
Total |
|
34937000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
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 engaged in the business of manufacturing of automobile
products consisting of three wheeled, four wheeled motor vehicles and
engines. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
·
Finished Goods |
||||||
|
Countries : |
·
Sri Lanka ·
Korea |
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
·
Raw Materials |
||||||
|
Countries : |
·
China ·
Italy |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Suppliers : |
·
MRF ·
CEAT |
||||||||||||
|
|
|
||||||||||||
|
Customers : |
·
Ramcare Marketing Private Limited |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
3500 (Approximately) [Contract = 2000 +
Permanent Basis = 1500] |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
State Bank of India, Industrial Finance Branch,
Tara Chambers, Mumbai-Pune Road, Pune – 411 003, Maharashtra, India ·
Credit Agricole and Corporate and Investment
Bank, A-203, 2nd Floor, ICC Trade Tower, Senapati Bapat Road, Pune
– 411 016, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Suite No. 8, Mutha Towers, Airport Road, Yerwada, Pune, Maharashtra,
India |
|
PAN No.: |
AAHFP0187A |
|
|
|
|
Holding Company : |
Piaggio and C SpA, Italy |
|
|
|
|
Fellow Subsidiary Company : |
·
Piaggio Vietnam Company Limited, Vietnam ·
Foshan Piaggio Vehicles Technology Research and
Development Company Limited, China ·
Piaggio Vespa B.V. |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34937000 |
Equity Shares |
Rs. 10/- each |
Rs.349.370 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34000000 |
Equity Shares |
Rs.10/- each |
Rs.340.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
340.000 |
340.000 |
340.000 |
|
(b) Reserves & Surplus |
1779.340 |
1678.510 |
3369.810 |
|
(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) |
2119.340 |
2018.510 |
3709.810 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2079.790 |
846.140 |
668.810 |
|
(b) Deferred tax liabilities (Net) |
514.680 |
351.950 |
308.150 |
|
(c) Other long term liabilities |
16.230 |
35.780 |
57.470 |
|
(d) long-term provisions |
52.000 |
56.090 |
7.950 |
|
Total Non-current Liabilities (3) |
2662.700 |
1289.960 |
1042.380 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
138.880 |
62.660 |
0.000 |
|
(b) Trade payables |
5995.720 |
4136.430 |
4033.030 |
|
(c) Other current
liabilities |
1112.140 |
1575.330 |
804.420 |
|
(d) Short-term provisions |
1203.870 |
2779.860 |
1767.660 |
|
Total Current Liabilities (4) |
8450.610 |
8554.280 |
6605.110 |
|
|
|
|
|
|
TOTAL |
13232.650 |
11862.750 |
11357.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5417.150 |
4226.610 |
3174.590 |
|
(ii) Intangible Assets |
2844.020 |
1544.340 |
1710.060 |
|
(iii) Capital
work-in-progress |
531.700 |
890.360 |
225.120 |
|
(iv)
Intangible assets under development |
168.060 |
1500.120 |
956.780 |
|
(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 |
343.840 |
368.790 |
405.200 |
|
(e) Other Non-current assets |
0.280 |
0.250 |
0.250 |
|
Total Non-Current Assets |
9305.050 |
8530.470 |
6472.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
490.960 |
100.000 |
|
(b) Inventories |
1094.570 |
850.340 |
1043.840 |
|
(c) Trade receivables |
602.630 |
328.090 |
481.400 |
|
(d) Cash and cash equivalents |
990.120 |
253.330 |
2003.160 |
|
(e) Short-term loans and
advances |
1030.030 |
1408.120 |
1252.200 |
|
(f) Other current assets |
210.250 |
1.440 |
4.700 |
|
Total Current Assets |
3927.600 |
3332.280 |
4885.300 |
|
|
|
|
|
|
TOTAL |
13232.650 |
11862.750 |
11357.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Total Revenue (Exclusive of excise duty) |
25460.000 |
26286.000 |
28556.000 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
5480.000 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
NA |
NA |
434.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
2902.000 |
3798.000 |
5046.000 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
936.000 |
1182.000 |
1644.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
1965.000 |
2616.000 |
3402.000 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
1244.330 |
2925.020 |
2163.350 |
|
|
|
TOTAL EARNINGS |
1244.330 |
2925.020 |
2163.350 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
223.460 |
216.070 |
307.370 |
|
|
|
|
Purchase of stock |
18.560 |
5.950 |
0.000 |
|
|
|
|
Capital Goods |
291.150 |
504.640 |
80.170 |
|
|
|
TOTAL IMPORTS |
533.170 |
726.660 |
387.540 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
59.24 |
NA |
100.06 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
11.40 |
14.45 |
17.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.81 |
41.72 |
51.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.37 |
1.88 |
1.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.05 |
0.45 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.46 |
0.39 |
0.74 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
94.530 |
0.000 |
0.000 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN 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 |
CASE DETAILS:
|
CASE DETAILS
District:- Pune Bench:- DIVISION Status: Pre-Admission Category:- TAX APPEALS Last Date: 06.01.204 Status:- Pre-Admission
Coram: REGISTER
(OS)/ PROTHONOTARY AND SR. MASTER Act :- Income
Tax Act, 1961
Under Section:- 260A |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Rupee term loans from bank |
1905.880 |
846.140 |
|
Intercorporate borrowings |
173.910 |
0.000 |
|
Short Term Borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
47.920 |
|
Total |
2079.790 |
894.060 |
THE YEAR IN
RETROSPECT
India’s GDP growth declined from 6.2% in 2011-12 to 5% in 2012-13, and Industrial
Growth declined from 3.5% to 2.1%. Automotive sector was not spared either.
Commercial vehicles segment was the worst hit, registering a negative growth of
2%. 3W segment, however, still managed to register a positive growth of around
5%.
OPERATIONS:
During the year the company sold 198,463 commercial vehicles compared to
215,446 vehicles last year. The company has sustained its domestic 3W nos. at
183,408, compared to 184,362 last year. The loss was mainly on the export front
where the sales declined from 20,475 to 12,162, and in 4W segment where the
sales declined from 10,609 to 2,893.
During the year the company launched the following new products:-
·
Ape City Pax (compact 3W with alternate fuels)
·
Porter 600 (4W cargo vehicle with 0.5T payload)
·
Porter 1000 BS-IV (4W cargo vehicle with 1.0T
payload)
All these vehicles have been received well in the market.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90090789 |
30/12/2010 * |
500,000,000.00 |
Credit Agricole and Corporate
and Investment Bank |
A-203, 2nd Floor, ICC Trade
Tower, Senapati Bapat Road, Pune, Maharashtra - 411016, INDIA |
B02391258 |
|
2 |
90090738 |
26/08/2011 * |
1,950,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch,
Tara Chambers, Mumbai Pune Road, Pune, Maharashtra - 411003, INDIA |
B20865457 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Technical Know-how
·
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.62.41 |
|
|
1 |
Rs.102.53 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.