|
Report Date : |
17.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA VEHICLE MANUFACTURERS LIMITED (w.e.f. 19.12.2008) |
|
|
|
|
Formerly Known
As : |
MAHINDRA AUTOMOTIVE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.05.2007 |
|
|
|
|
Com. Reg. No.: |
11-171151 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9622.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34100MH2007PLC171151 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM32438A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM1217M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Tractors and Utility Vehicles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
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 51300 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Mahindra and Mahindra
Limited”. It is an established company having fine track record. The company has achieved better growth in sales and profit of company
in 2013. It also gets good support from its holding company. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current
account deficit narrowed in the quarter ended September as government measures to
curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous month,
even while indicating the fifth successive monthly contraction, according the
HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
AA [Non-Convertible Debenture] |
|
Rating Explanation |
Having high degree of safety regarding
timely servicing of financial obligation it carry low credit risk. |
|
Date |
January 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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-28849588)
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-24931441/ 24935626 |
|
Fax No.: |
91-22-24900833 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located at MIDC Chakan, Pune – 410 501, Maharashtra, India |
DIRECTORS
As on 18.06.2013
|
Name : |
Dr. Pawan Kumar Ram Kishore Goenka |
|
Designation : |
Director |
|
Address : |
Flat No.602, 9, JVPD, Near UTI Bank Limited, 10th Road,
Vile Parle (West), Mumbai – 400 056, Maharashtra, India |
|
Date of Birth/Age : |
23.09.1954 |
|
Date of Appointment : |
25.05.2007 |
|
00254502 |
|
|
|
|
|
Name : |
Mr. Louis Percival Pereira |
|
Designation : |
Director |
|
Address : |
504, Ashok Nagar, 1-B Wing, Vazira Naka, Borivali (West), Mumbai – 400
092, Maharashtra, India |
|
Date of Birth/Age : |
21.07.1948 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No.: |
01329348 |
|
|
|
|
Name : |
Mr. Ajay Mansukhlal Choksey |
|
Designation : |
Director |
|
Address : |
Kanyakumari CHS, C-21, 2nd Floor, A.K. Road, Plot C/5, 662,
Andheri (East), Mumbai – 400 069, Maharashtra, India |
|
Date of Birth/Age : |
12.08.1952 |
|
Date of Appointment : |
06.08.2008 |
|
DIN No.: |
00204454 |
|
|
|
|
Name : |
Mr. Sundaram Venkatraman |
|
Designation : |
Director |
|
Address : |
501, Vikas Classic, Building No.4, Behind Basant Theater, Dr. C. Gidwani
Marg, Chembur, Mumbai – 400 074, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1952 |
|
Date of Appointment : |
19.11.2008 |
|
DIN No.: |
00077193 |
|
|
|
|
Name : |
Mr. Pravin Nagindas Shah |
|
Designation : |
Additional Director |
|
Address : |
41/42, Sailesh, Plot No.94A, Linking Road, TPS 2, Santacruz (West),
Mumbai – 400 054, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1954 |
|
Date of Appointment : |
25.01.2012 |
|
DIN No.: |
00056173 |
|
|
|
|
Name : |
Mr. Vijay Anant Dhongde |
|
Designation : |
Director |
|
Address : |
D-1, 207, Jumbo Darshan Co-operative Society Limited, Jeeva Mahale
Road, Andheri (East), Mumbai-400069, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1953 |
|
Date of Appointment : |
23.08.2011 |
|
DIN No.: |
03601867 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Anant Dhongde |
|
Designation : |
Manager |
|
Address : |
D-1, 207, Jumbo Darshan Co-operative Society Limited, Jeeva Mahale Road,
Andheri (East), Mumbai-400069, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1953 |
|
Date of Appointment : |
01.04.2011 |
|
Pan No.: |
ADBPD7401N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.06.2013
|
Names of Shareholders |
No. of Shares |
|
Mahindra and Mahindra Limited, |
962249994 |
|
Mahindra and Mahindra Limited, |
1 |
|
Mahindra and Mahindra Limited, |
1 |
|
Mahindra and Mahindra Limited, |
1 |
|
Mahindra and Mahindra Limited, |
1 |
|
Mahindra and Mahindra Limited, India Jointly with P. N. Shah |
1 |
|
Mahindra and Mahindra Limited, |
1 |
|
|
|
|
Total |
962250000 |
As on 18.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tractors and Utility Vehicles. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India ·
Canara Bank (Security Trustee for the Lenders), Prime
Corporate Branch - II, Verma Chambers, 2nd Floor, Homji Street,
Fort, Mumbai – 400 001, Maharashtra, India ·
State Bank of |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
Axis Trustee Services
Limited, Axis House, 2nd Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar
Marg, Worli, Mumbai - 400025, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, |
|
PAN
No. : |
AABFD7919A |
|
|
|
|
Holding Company : |
Mahindra and
Mahindra Limited |
|
|
|
|
Fellow Subsidiary : |
·
Mahindra Automobile Distributor Private Limited ·
Mahindra Reva Electric Vehicles Private Limited ·
Mahindra Intertrade Limited ·
Mahindra Ugine Steel Company Limited ·
Mahindra Forging Limited ·
Mahindra Hinodaya Limited ·
Mahindra Logistics Limited ·
Mahindra Navistar Engine Private Limited ·
Mahindra Navistar Automotive Limited ·
Mahindra Gears and Transmissions Private Limited ·
Mahindra BPO Services Private Limited ·
Mahindra Holidays and Resorts India Limited ·
Ssangyong Motor Company, Korea ·
Mahindra Conveyor Systems Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1300000000 |
Equity Shares |
Rs.10/- each |
Rs.13000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
962250000 |
Equity Shares |
Rs.10/- each |
Rs.9622.500 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 |
9622.500 |
9622.500 |
9622.500 |
|
(b) Reserves & Surplus |
3217.500 |
1198.700 |
(19.000) |
|
(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) |
12840.000 |
10821.200 |
9603.500 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8588.100 |
9094.400 |
8387.000 |
|
(b) Deferred tax liabilities (Net) |
1408.400 |
618.300 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
4.300 |
|
(d) long-term provisions |
365.200 |
128.900 |
103.300 |
|
Total Non-current Liabilities (3) |
10361.700 |
9841.600 |
8494.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
663.700 |
16.800 |
388.800 |
|
(b) Trade payables |
13700.200 |
13302.700 |
4116.700 |
|
(c) Other current
liabilities |
2724.300 |
2689.800 |
1174.70 |
|
(d) Short-term provisions |
832.000 |
11.400 |
7.600 |
|
Total Current Liabilities (4) |
17920.200 |
16020.700 |
5687.800 |
|
|
|
|
|
|
TOTAL |
41121.900 |
36683.500 |
23785.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18593.900 |
17237.900 |
15457.000 |
|
(ii) Intangible Assets |
102.400 |
94.800 |
24.100 |
|
(iii) Capital
work-in-progress |
558.100 |
675.500 |
625.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
28.000 |
28.000 |
28.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4742.800 |
2568.400 |
1237.400 |
|
(e) Other Non-current assets |
85.700 |
90.800 |
85.100 |
|
Total Non-Current Assets |
24110.900 |
20695.400 |
17456.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
200.000 |
1361.400 |
0.000 |
|
(b) Inventories |
6610.500 |
5617.500 |
2193.400 |
|
(c) Trade receivables |
5982.900 |
4587.000 |
1672.400 |
|
(d) Cash and cash
equivalents |
327.500 |
1024.900 |
2.800 |
|
(e) Short-term loans and advances |
635.100 |
1002.700 |
2440.000 |
|
(f) Other current assets |
3255.000 |
2394.600 |
20.500 |
|
Total Current Assets |
17011.000 |
15988.100 |
6329.100 |
|
|
|
|
|
|
TOTAL |
41121.900 |
36683.500 |
23785.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
78894.600 |
44806.800 |
11808.900 |
|
|
|
Other Income |
141.800 |
83.800 |
41.800 |
|
|
|
TOTAL |
79036.400 |
44890.600 |
11850.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
69724.200 |
40361.500 |
9852.000 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(81.400) |
(1916.200) |
(859.900) |
|
|
|
Employee benefit expense |
1312.000 |
928.500 |
517.600 |
|
|
|
Other expenses |
1653.900 |
1498.000 |
612.000 |
|
|
|
TOTAL |
72608.700 |
40871.800 |
10121.700 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
6427.700 |
4018.800 |
1729.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1052.500 |
1246.100 |
864.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5375.200 |
2772.700 |
864.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1069.900 |
937.800 |
600.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
4305.300 |
1834.900 |
264.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1467.500 |
617.200 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2837.800 |
1217.700 |
264.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1162.700 |
(19.000) |
(283.200) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Debenture Reserve |
723.900 |
36.000 |
0.000 |
|
|
|
Proposed Dividend on Equity Shares |
700.000 |
0.000 |
0.000 |
|
|
|
Income-Tax on Proposed Dividend |
119.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2457.600 |
1162.700 |
(19.000) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1287.100 |
249.300 |
|
|
|
Capital Goods |
NA |
204.900 |
60.900 |
|
|
TOTAL IMPORTS |
NA |
1492.000 |
310.200 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.95 |
1.27 |
0.34 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.59
|
2.71 |
2.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.46
|
4.09 |
2.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.62
|
5.10 |
1.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.17 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.72
|
0.84 |
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
1.00 |
1.11 |
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 |
|
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10434317 |
23/05/2013 |
8,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg,
Worli,, Mumbai, Maharashtra - 400025, INDIA |
B77660553 |
|
2 |
10236113 |
14/06/2012 * |
1,500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI,
Maharashtra - 400013, INDIA |
B43154582 |
|
3 |
10213377 |
31/10/2012 * |
2,000,000,000.00 |
CANARA BANK (Security Trustee for Standard Chartered Bank) |
PRIME CORPORATE BRANCH - II, VERMA CHAMBERS, 2ND FLOOR, HOMJI STREET,
FORT., MUMBAI, Maharashtra - |
B61651733 |
* Date of charge modification
OPERATIONS
During the year,
the Company launched a new product Rexton and several new variants of Maxximo
and M and HCV and a 3 cylinder engine for Quanto.
The production
volumes ramped up from 116502 vehicles in 2011-12 to 156143 during the year
2012-13 (34% increase over previous year).
The vehicles
manufactured by the Company were exported to a number of countries. The number
of vehicles exported (through Mahindra and Mahindra Limited) increased from 11,011
vehicles in 2011-12 to 19,252 vehicles in 2012 - 13 (75% increase over previous
year).
The Company
ensured that all expectations of customers were met in terms of volume and
quality. With relentless focus on quality systems, the Company underwent surveillance
audits for ISO 9001, EMS and OSHAS certification and MQS certification during
the year. The Company also maintained a constant focus on cost reduction and
successfully maintained costs below planned levels.
The Company won
several awards and recognitions during the year. Some prominent ones amongst
them included the Manufacturing Leadership Award by Industry 2.0, Manufacturing
Today Award for Excellence in Technology, Mahindra Group Innovation Award for
Commonizing the Genio assembly line, 8 Gold prizes from Quality Forum of India,
Mahindra Group Award (1stprize) for Bandhan (Focused CSR initiative), etc.
During the year,
the Company added new facilities which included Buildings for Tyre storage,
Rexton Body Shop, Parts storage and construction work for central
administration building commenced during the year and the work is progressing
as per schedule.
The Company also
inaugurated a Crčche for taking care of the children of women employees during
the year. To ensure fresh, healthy and hygienic food to the employees, the
Company operationalized a Central Kitchen
FIXED ASSETS
˛ Leasehold Land
˛ Buildings
˛ Plant and Machinery
˛ Furniture and Fixture
˛ Vehicles
˛ 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.61.53 |
|
|
1 |
Rs.100.73 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.