MIRA
INFORM REPORT
|
Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
H-ONE INDIA PRIVATE LIMITED |
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|
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Formerly Known
As : |
HONGO INDIA PRIVATE LIMITED (w.e.f.07.01.2000) HONGO PAWHA INDIA PRIVATE LIMITED |
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Registered
Office : |
12, Udyog Vihar, Surajpur Kasna Road, Gautam Budh Nagar, Greater Noida
– 201306, Uttar Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.12.1997 |
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Com. Reg. No.: |
20-023702 |
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Capital
Investment / Paid-up Capital : |
Rs. 610.695
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U73200UP1997PTC023702 |
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|
|
PAN No.: [Permanent Account No.] |
AAACH3032L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Sheet Metal Component and Tools and Dies. |
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No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3800000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. A reserve of the company is low. However, the rating takes into consideration company’s sound financial
risk profile and fair profitability levels of the company. Trade relations are Business is active. Payment terms are reported to
be slow but correct. The company can be considered 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a quarter
of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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
MANAGEMENT NON – COOPERATIVE (91-120-2569892)
LOCATIONS
|
Registered Office : |
12, Udyog Vihar, Surajpur Kasna Road, Gautam Budh Nagar, Greater Noida
– 201306, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2569892/ 93/ 94 |
|
Fax No.: |
91-120-2569895 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 17.09.2013
|
Name : |
Mr. Arun Jain |
|
Designation : |
Whole-time director |
|
Address : |
P-3, 12 ATS Village, Plot No. 1, Express Way, Sector-93A, Noida -
201010, Uttar Pradesh, India |
|
Date of Birth/Age : |
10.05.1973 |
|
Date of Appointment : |
28.03.2007 |
|
PAN No.: |
AARPJ9664N |
|
DIN No.: |
00566490 |
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|
|
|
Name : |
Atsushi Kaneda |
|
Designation : |
Director |
|
Address : |
Equas-Omiya 1201, 123-3, Kushihiki-Cho-Ichome, Omiya-Ku, Saitama,
Japan |
|
Date of Birth/Age : |
23.09.1961 |
|
Date of Appointment : |
23.09.2011 |
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DIN No.: |
03631554 |
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|
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Name : |
Krishna Shriram |
|
Designation : |
Director |
|
Address : |
D-46, Malcha Marg, New Delhi - 110021, India |
|
Date of Birth/Age : |
03.06.1970 |
|
Date of Appointment : |
26.08.2008 |
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DIN No.: |
00031783 |
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|
|
|
Name : |
Mr. Tatsuya Kawaguchi |
|
Designation : |
Chairman-cum-Managing Director |
|
Address : |
Tower – 2, Flat No. 502, NRI City, Greater Noida, Gautam Budh Nagar –
201306, Uttar Pradesh, India |
|
Date of Birth/Age : |
17.05.1964 |
|
Date of Appointment : |
29.03.2013 |
|
DIN No.: |
06538245 |
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|
|
|
Name : |
Mr. Ryuichi Koida |
|
Designation : |
Director |
|
Address : |
2-1-34 Sakura – CHO, Koganei – SHI, Tokyo, Japan |
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Date of Birth/Age : |
30.06.1952 |
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Date of Appointment : |
29.03.2013 |
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DIN No.: |
06555212 |
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|
|
|
Name : |
Satoru Hamatsu |
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Designation : |
Alternate director |
|
Address : |
D-255, 1st Floor, Defence Colony, New Delhi – 110024, India
|
|
Date of Birth/Age : |
26.12.1967 |
|
Date of Appointment : |
21.03.2014 |
|
DIN No.: |
02668532 |
KEY EXECUTIVES
|
Name : |
Mr. Vatsala Chauhan |
|
Designation : |
Company Secretary |
|
Address : |
E-81, IARI Pusa Campus, New Delhi – 110012, India |
|
Date of Birth/Age : |
22.11.1987 |
|
Date of Appointment : |
14.06.2013 |
|
PAN No.: |
AKEPC9173C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
H-One Company Limited, Japan |
|
58015998 |
|
Pawha Builders Private Limited, India |
|
01 |
|
Usha International Limited, India |
|
3053472 |
|
Tatsuya Kawaguchi |
|
01 |
|
Total |
|
61069472 |
Equity Share Break up (Percentage of Total Equity)
As on 17.09.2013
|
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 |
95.00 |
|
Bodies corporate |
5.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sheet Metal Component and Tools and Dies. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production Qty. |
|
Sheet Metal Component |
Nos. |
N/A |
10,660,00 |
3,800,213 |
|
Tools & Dies |
Nos. |
N/A |
250 |
198 |
Notes:
1. The Company's product
is exempt from licensing requirements under New Industrial Policy of Government
of India.
2. Installed Capacity as certified by the management has been accepted
by the auditors being a technical matter.
GENERAL INFORMATION
|
Customers : |
Ř Honda Ř Hero Honda Ř T-Tech Keihin Ř GM Ř Denso Ř Yamaha Ř Mahindra |
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No. of Employees : |
Information declined by the management
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Bankers : |
· State Bank of India, Overseas Branch, 17; Barakhamba Road, New Delhi - 110001, Delhi, India · Mizuho Corporate Bank Limited, Maker Chamber III,Jamnalal Bajaj Road; Nariman Point, Mumbai - 400027,Maharashtra, India ·
Standard Chartedred Bank, Parliament Street,
New Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Chaturvedi and
Company Chartered Accountants |
|
Address : |
405 - 407,
Chiranjiv Tower, 43 Nehru Place , New Delhi, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFC9567F |
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Holding company : |
·
H-One Company Limited |
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|
|
|
Fellow Subsidiary company : |
·
CNC D-TEX Company Limited ·
H - One Parts (Thailand) Company Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61,069,472 |
Equity Shares |
Rs. 10/- each |
Rs. 610.695
Millions |
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|
|
|
|
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 |
610.695 |
477.105 |
477.105 |
|
(b) Reserves & Surplus |
331.620 |
118.966 |
85.532 |
|
(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) |
942.315 |
596.071 |
562.637 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
36.667 |
130.382 |
281.475 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
53.371 |
53.371 |
53.371 |
|
(d) long-term provisions |
13.761 |
10.540 |
8.435 |
|
Total
Non-current Liabilities (3) |
103.799 |
194.293 |
343.281 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
145.000 |
20.000 |
|
(b) Trade payables |
273.147 |
236.441 |
95.771 |
|
(c) Other current liabilities |
329.608 |
256.758 |
323.294 |
|
(d) Short-term provisions |
87.079 |
73.289 |
63.428 |
|
Total
Current Liabilities (4) |
689.834 |
711.488 |
502.493 |
|
|
|
|
|
|
TOTAL |
1735.948 |
1501.852 |
1408.411 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
798.330 |
752.572 |
766.370 |
|
(ii) Intangible Assets |
1.504 |
1.903 |
3.163 |
|
(iii) Capital work-in-progress |
53.946 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.261 |
32.219 |
47.460 |
|
(d) Long-term Loan and Advances |
4.426 |
3.650 |
9.022 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
859.467 |
790.344 |
826.015 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
91.539 |
1.756 |
1.488 |
|
(b) Inventories |
229.867 |
250.568 |
229.435 |
|
(c) Trade receivables |
286.960 |
295.071 |
160.954 |
|
(d) Cash and cash equivalents |
77.345 |
5.151 |
0.534 |
|
(e) Short-term loans and
advances |
190.770 |
158.962 |
189.985 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
876.481 |
711.508 |
582.396 |
|
|
|
|
|
|
TOTAL |
1735.948 |
1501.852 |
1408.411 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1280.820 |
1057.260 |
|
|
|
Other Income |
|
246.040 |
112.090 |
|
|
|
TOTAL |
1871.930 |
1526.860 |
1169.350 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
1666.540 |
1299.860 |
1031.500 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1666.540 |
1299.860 |
1031.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
205.390 |
227.000 |
137.850 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
23.450 |
73.930 |
61.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
181.940 |
153.070 |
75.880 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
105.610 |
104.390 |
137.440 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE EXTRAORDINARY AND PRIOR PERIOD ITEM |
76.330 |
48.680 |
(61.560) |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD ITEM |
0.830 |
0.000 |
63.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
77.160 |
48.680 |
2.390 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.960 |
15.240 |
1.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
46.200 |
33.440 |
0.680 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
112.640 |
79.200 |
78.520 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
158.840 |
112.640 |
79.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
9.330 |
21.754 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.76 |
0.70 |
0.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.47 |
2.19 |
0.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.12 |
3.80 |
0.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.59 |
3.31 |
0.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.08 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.46 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.00 |
1.16 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
477.105 |
477.105 |
610.695 |
|
Reserves & Surplus |
85.532 |
118.966 |
331.620 |
|
Net
worth |
562.637 |
596.071 |
942.315 |
|
|
|
|
|
|
long-term borrowings |
281.475 |
130.382 |
36.667 |
|
Short term borrowings |
20.000 |
145.000 |
0.000 |
|
Total
borrowings |
301.475 |
275.382 |
36.667 |
|
Debt/Equity
ratio |
0.536 |
0.462 |
0.039 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1169.350 |
1526.860 |
1871.930 |
|
|
|
30.573 |
22.600 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1169.350 |
1526.860 |
1871.930 |
|
Profit |
0.680 |
33.440 |
46.200 |
|
|
0.06% |
2.19% |
2.47% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BUSINESS AND
OPERATION
The automotive industry is facing new and pressing challenges. Globalization, individualization, digitalization and increasing competition are pressing the face of the industry. In addition, increasing safety requirement and voluntary environmental commitments by the automotive industry have also contributed to the changes ahead. Size is no longer a guarantee of success. Only those companies that find new ways to create value will prosper in the future.
With the end of the Financial Year 2012-13, The Company has an experience of sixteen years in manufacturing of steel metal component and Die Manufacturing. The year started with gradually growth in demand of automobiles in the Market. In this environment, the Company made effective strategy to focus on profitability and increase the demand through efficient market management.
To meet out the demand of customer future expectation and other new business, Company has set up new warehouse in Pune and installed fully automated Sub Black Plate New Line for Weld Shop, and 1000 Ton Press Shop in the Die-Engineering area.
Company is striving continuously to increase market base by increasing its Customer base to utilize its idle capacity and reviewing production system to take out the wastage and unnecessary cost, For this, progressive developments made in the production of existing business of General Motors India (GM), Honda Siel Cars India Limited, DENSO India Limited and Honda Motorcycle and Scooter India Private Limited (HMSI).
The proposed business plan is to enlarge the work with General Motors India (GM) of the Company with the and the plans to keep the track of Automobile growth in India and make the action plan. We hope that the situation in the coming financial years will be in upward trend again.
Company is committed to adhere to the highest standards, and will continue to strive to achieve new landmarks and milestones.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
36.667 |
112.205 |
|
Foreign currency term loans from banks |
0.000 |
18.177 |
|
Total |
36.667 |
130.382 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80022720 |
16/09/2011 * |
210,000,000.00 |
MIZUHO CORPORATE BANK LIMITED |
4TH FLOOR, EAST TOWER, SOOD TOWER, 25, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B24217580 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
Intangible assets
· 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.61.19 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.