MIRA
INFORM REPORT
|
Report Date : |
16.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTERPLEX ELECTRONICS INDIA PRIVATE LIMITED (w.e.f. 25th
July, 2000) |
|
|
|
|
Formerly Known
As : |
INTERPLEX ELECTRONICS INDIA LIMITED |
|
|
|
|
Registered
Office : |
89A, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.01.1996 |
|
|
|
|
Com. Reg. No.: |
08-026010 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.84.363
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32202KA1996PTC026010 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRI01652A BLRI00616A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI5754J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the Manufacture of Metal Stampings, Plating and Moulding for Electronics, Telecommunication and Automotive Industries. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 810000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The company possesses a favourable financial profile marked by
adequate networth base and acceptable gearing during the year under
consideration. Management has witnessed a better growth in its sales volume as well
as net profitability during FY 13. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of experienced promoters, the subject 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
NEWS
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 with 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating: BB (Suspended) |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
|
Date |
April, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating: A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high risk.
|
|
Date |
April, 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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No.: 91-80-66445330
LOCATIONS
|
Registered Office : |
89A, Electronics City, Hosur Road, Bangalore – 560100, Karnataka,
India |
|
Tel. No.: |
91-80-66445330/ 28520536/ 537/ 66445316/ 66445366/ 66445330 |
|
Fax No.: |
91-80-28520600 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located
at: ·
Bangalore ·
Chennai |
DIRECTORS
AS ON 10.09.2013
|
Name : |
Mr. Irving Klein |
|
Designation : |
Director |
|
Address : |
1179, East 13th Street, Brooklyn, New York 11230, USA |
|
Date of
Birth/Age : |
17.12.1954 |
|
Qualification : |
CPA |
|
Date of
Appointment : |
07.10.1996 |
|
DIN No.: |
01103384 |
|
|
|
|
Name : |
Mr. Jack Seidler |
|
Designation : |
Director |
|
Address : |
1815, 215th Street, 17D Bayside, New York 11360 USA |
|
Date of
Birth/Age : |
15.11.1925 |
|
Date of
Appointment : |
24.01.1996 |
|
DIN No.: |
01090978 |
|
|
|
|
Name : |
Mr. Robert Feder |
|
Designation : |
Director |
|
Address : |
9, Oxford Road, White Plains, New York - 10605,USA |
|
Date of
Birth/Age : |
29.11.1930 |
|
Date of
Appointment : |
24.01.1996 |
|
DIN No.: |
01090557 |
|
|
|
|
Name : |
Mr. Padmanabhan Krishnan |
|
Designation : |
Whole Time Director |
|
Address : |
303, LAA Paradise, 9 Puttappa Layout, New Tippasandra, Bangalore - 560
075, Karnataka, India |
|
Date of
Birth/Age : |
12.05.1957 |
|
Qualification : |
BE |
|
Date of
Appointment : |
28.04.2008 |
|
DIN No.: |
02071803 |
|
PAN No.: |
AAPPP0335A |
|
|
|
|
Name : |
Mr. Steven Daniel Feinstein |
|
Designation : |
Director |
|
Address : |
12, Kolbert Drive, Scarsdale, New York 10583 USA |
|
Date of
Birth/Age : |
06.12.1961 |
|
Date of
Appointment : |
27.09.2012 |
|
DIN No.: |
05292474 |
KEY EXECUTIVES
|
Name : |
Mr. Santhanam Narayanan |
|
Designation : |
Secretary |
|
Address : |
27, TNEB Quarters, 230 KV Substation, Thalli Road, Hosur – 635109, Tamilnadu, India |
|
Date of Birth/Age : |
02.06.1962 |
|
Date of Appointment : |
30.11.1998 |
|
PAN No.: |
AKQPS9345G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Interplex Industries Inc., USA |
|
147 |
|
Interplex Asia Limited, USA |
|
1992679 |
|
|
|
|
|
Total |
|
1992826 |
AS ON 10.09.2013
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Interplex Industries Inc., USA |
|
6443442 |
|
|
|
|
|
Total |
|
6443442 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the Manufacture of Metal Stampings, Plating and Moulding for Electronics, Telecommunication and Automotive Industries. |
||||||||
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|
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited 8, Nitesh Times Square, 1st Floor, M.G. Road, Bangalore –
560001, Karnataka, India ·
Citibank N.A. 506-507, Level 5, Prestige Meridian 2, No.30, M.G. Road, Bangalore –
560001, Karnataka, India |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||
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|
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh and Company Chartered Accountants |
|
Address : |
#43/61,
‘Srinidhi’, I Floor, Surveyors Street, Bsavanagudi, Bangalore – 560004,
Karnataka, India |
|
PAN No.: |
AANFS0423Q |
|
|
|
|
Holding Company: |
Interplex Asia Inc., USA |
|
|
|
|
Ultimate Holding
Company: |
Interplex Industries Inc, USA |
CAPITAL STRUCTURE
(AS ON 10.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
Millions |
|
8000000 |
Preference Shares |
Rs.10/- each |
Rs.80.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1992826 |
Equity Shares |
Rs.10/- each |
Rs.19.928
Millions |
|
6443442 |
Preference Shares |
Rs.10/- each |
Rs.64.435
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.84.363 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 |
84.363 |
84.363 |
84.363 |
|
(b) Reserves & Surplus |
120.101 |
86.627 |
70.553 |
|
(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) |
204.464 |
170.990 |
154.916 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
126.591 |
171.393 |
191.584 |
|
(b) Deferred tax liabilities (Net) |
4.941 |
7.392 |
1.806 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.743 |
6.573 |
5.511 |
|
Total Non-current Liabilities (3) |
140.275 |
185.358 |
198.901 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
16.697 |
10.638 |
0.000 |
|
(b) Trade payables |
51.061 |
43.549 |
56.482 |
|
(c) Other current
liabilities |
91.542 |
74.925 |
68.465 |
|
(d) Short-term provisions |
30.216 |
15.091 |
9.269 |
|
Total Current Liabilities (4) |
189.516 |
144.203 |
134.216 |
|
|
|
|
|
|
TOTAL |
534.255 |
500.551 |
488.033 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
249.281 |
252.561 |
254.335 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
3.211 |
0.168 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Foreign currency monetary item translation difference
assets accounts |
14.990 |
11.943 |
(0.340) |
|
(d) Long-term Loan and
Advances |
2.713 |
1.850 |
2.424 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
266.984 |
269.565 |
256.587 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
112.146 |
109.379 |
82.665 |
|
(c) Trade receivables |
104.207 |
88.585 |
96.040 |
|
(d) Cash and cash
equivalents |
5.016 |
1.199 |
10.289 |
|
(e) Short-term loans and
advances |
45.896 |
31.821 |
42.406 |
|
(f) Other current assets |
0.006 |
0.002 |
0.046 |
|
Total Current Assets |
267.271 |
230.986 |
231.446 |
|
|
|
|
|
|
TOTAL |
534.255 |
500.551 |
488.033 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
613.750 |
551.390 |
560.030 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
83.090 |
60.230 |
64.460 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
32.040 |
28.410 |
24.790 |
|
|
|
|
|
|
|
|
|
Less/ Add |
EXCEPTIONAL
ITEMS |
4.530 |
4.460 |
(0.340) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
46.520 |
27.360 |
40.010 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.050 |
11.290 |
11.690 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
33.470 |
16.070 |
28.320 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
86.620 |
70.550 |
42.230 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
120.090 |
86.620 |
70.550 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
56.000 |
47.480 |
28.440 |
|
|
TOTAL EARNINGS |
56.000 |
47.480 |
28.440 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
104.670 |
82.160 |
116.180 |
|
|
|
Stores & Spares |
1.200 |
3.030 |
1.380 |
|
|
|
Capital Goods |
8.500 |
1.620 |
13.790 |
|
|
TOTAL IMPORTS |
114.370 |
86.810 |
131.350 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.97 |
8.06 |
14.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
7.58 |
4.96 |
7.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.96 |
5.64 |
8.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.16 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.70 |
1.06 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.60 |
1.72 |
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 |
84.363 |
84.363 |
84.363 |
|
Reserves & Surplus |
70.553 |
86.627 |
120.101 |
|
Net worth |
154.916 |
170.990 |
204.464 |
|
|
|
|
|
|
long-term borrowings |
191.584 |
171.393 |
126.591 |
|
Short term borrowings |
0.000 |
10.638 |
16.697 |
|
Total borrowings |
191.584 |
182.031 |
143.288 |
|
Debt/Equity ratio |
1.237 |
1.065 |
0.701 |
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) |
|
Income |
560.030 |
551.390 |
613.750 |
|
|
|
(1.543) |
11.310 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Income |
560.030 |
551.390 |
613.750 |
|
Profit |
28.320 |
16.070 |
33.470 |
|
|
5.06% |
2.91% |
5.45% |
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 |
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 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
Loans and advances from others |
82.122 |
105.576 |
|
|
|
|
|
Total |
82.122 |
105.576 |
FINANCIAL RESULTS:
The Companys revenue for the
year is Rs.613.750 Millions as against the revenue of Rs.551.390 Millions in
the previous year marking an increase of 11% over the previous year. The
Company focused on newer market segments and to beat competition, gave more
value added services to the customer. The Company could improve its operating
margin and thereby increased its profitability this year. The company has ended
the year with a net profit of Rs.46.520 Millions before tax as compared to a
net profit before tax of Rs.27.360 Million in the previous year. The company
looks upon to a decent growth in the current year with its newly added over-
moulding capability The Directors expect that the demand for Electronic,
Electrical and Automotive goods, in which the company operates, will rise significantly
and hopeful of achieving better results this year.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10271301 |
02/02/2011 |
50,000,000.00 |
Citi Bank N A |
506-507, Level 5,
Prestige Meridian 2,, No 30, M G Road,, Bangalore, Karnataka - 560001,
INDIA |
B07511884 |
|
2 |
10165356 |
26/09/2011 * |
62,500,000.00 |
Axis Bank Ltd |
8, Nitesh Times Square, M.G.
Road, Bangalore, Karnataka - 560001, INDIA |
B23085947 |
|
3 |
10124186 |
11/06/2009 * |
50,000,000.00 |
AXIS BANK LTD |
'Nitesh Timesquare', 1st
Floor, No:8, M.G.Road, Bangalore, Karnataka - 560001, India |
A64452105 |
* Date of charge modification
FIXED ASSETS:
·
Leasehold
Improvement
·
·
·
Buildings
·
Plant and Machinery
·
Office Equipment
·
Furniture and
Fixtures
· Vehicles
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 records 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.60.22 |
|
|
1 |
Rs.102.79 |
|
Euro |
1 |
Rs.81.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.