MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
WMI KONECRANES INDIA LIMITED [w.e.f.28.09.2011] |
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Formerly Known
As : |
WMI CRANES LIMITED |
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Registered
Office : |
Plot No. D16, MlDC Jeluri, Taluka Purandar, Pune – 411026, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.10.1975 |
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Com. Reg. No.: |
11-148965 |
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Capital Investment
/ Paid-up Capital : |
Rs. 12.226
Millions |
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CIN No.: [Company Identification
No.] |
U74210PN1975PLC148965 |
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PAN No.: [Permanent Account No.] |
AAACW0328C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Material Handling Equipment the cranes
manufactured are extensively used for Handling materials in Machine shop,
Structural shop, Chemical fertilizer and paper plants cement factories Dams
Stock yard etc. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2238000 |
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Status : |
Moderate |
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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 moderate track record. Company has incurred loss from its operation in the year 2013. External borrowing of the company is huge which act as a threat to
liquidity of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
CONTACT NO.: 91-20-40047470
LOCATIONS
|
Registered Office : |
Plot No. D16, MlDC Jeluri, Taluka Purandar, Pune – 411026,
Maharashtra, India |
|
Tel. No.: |
91-20-40047470 |
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Fax No.: |
91-20-40047475 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. C-63, MIDC, Jejuri, Pune - 412303, Maharashtra, India |
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Branch Offices : |
Located at: · New Delhi Ahmedabad Mumbai Bangalore Coimbatore Chennai Hyderabad Jamshedpur Kolkata |
DIRECTORS
AS ON 30.12.2013
|
Name : |
Mr. Saeesh Madan Nevrekar |
|
Designation : |
Managing director |
|
Address : |
Flat No. 501, Surad Apartments, 106/13, Prabhat Road, Pune – 411004,
Maharashtra, India |
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Date of Birth/Age : |
12.03.1971 |
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Date of Appointment : |
21.05.2013 |
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DIN No.: |
00367267 |
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Name : |
Ms. Sirpa Talvikki Poitsalo |
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Designation : |
Whole-time director |
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Address : |
Kunnarlantie 80, Espoo 02740, Finland |
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Date of Birth/Age : |
04.04.1963 |
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Date of Appointment : |
17.02.2011 |
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DIN No.: |
00929783 |
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Name : |
Mr. Mikko Johannes Uhari |
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Designation : |
Whole-time director |
|
Address : |
Vuokontie 13, 13500 Hameenlinna, Finland |
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Date of Birth/Age : |
08.05.1957 |
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Date of Appointment : |
17.02.2011 |
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DIN No.: |
00929809 |
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|
|
Name : |
Mr. Juha Markus Vanhanen |
|
Designation : |
Whole-time director |
|
Address : |
Metsapirtintie 12D, 19, Espoo 02130, Finland |
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Date of Birth/Age : |
22.02.1969 |
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Date of Appointment : |
17.02.2011 |
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DIN No.: |
03112303 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.12.2013
|
Names of Shareholders |
|
No. of Shares |
|
Konecranes Finance Corporation, Finland |
|
1055917 |
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Konecranes Finland Corporation, Finland |
|
1 |
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Konecranes Service Corporation, Finland |
|
1 |
|
Konecranes Sweden Holding AB, Sweden |
|
1 |
|
Konecranes Holding BV, Netherlands |
|
1 |
|
Konecranes Pte Limited, Singapore |
|
1 |
|
KCI Cranes Holding (Singapore) Pte Limited, Singapore |
|
166664 |
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|
|
|
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Total |
|
1222586 |
AS ON 25.03.2014
|
Names of Allottees |
|
No. of Shares |
|
Konecranes Finance Corporation, Finland |
|
10796250 |
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KCI Cranes Holding (Singapore) Pte Limited, Singapore |
|
1703750 |
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|
|
|
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Total |
|
12500000 |
AS ON 30.12.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Material Handling Equipment the cranes
manufactured are extensively used for Handling materials in Machine shop Structural
shop Chemical fertilizer and paper plants cement factories Dams Stock yard
etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· ING Vysya Bank Limited Mittal Towers A-Wing, Ground Floor 210 Nariman Point, Mumbai - 400021,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
SRBC and Company LLP Chartered Accountants |
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Address : |
C 401, Panchshil Tech Park, Near Don Bosco School,
Yerawada, Pune – 411006, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
ACHFS9117R |
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Ultimate Holding
company : |
Konecranes Plc |
CAPITAL STRUCTURE
AFTER 30.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 140.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,722,586 |
Equity Shares |
Rs. 10/- each |
Rs. 137.226
Millions |
|
|
|
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AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,222,586 |
Equity Shares |
Rs. 10/- each |
Rs. 12.226
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 |
12.226 |
10.559 |
10.559 |
|
(b) Reserves & Surplus |
547.375 |
897.595 |
1012.646 |
|
(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) |
559.601 |
908.154 |
1023.205 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
700.205 |
20.844 |
20.844 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
28.264 |
|
(c) Other long
term liabilities |
1.766 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
6.989 |
4.218 |
|
Total Non-current
Liabilities (3) |
701.971 |
27.833 |
53.326 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1445.995 |
803.590 |
93.910 |
|
(b)
Trade payables |
1351.657 |
442.361 |
632.898 |
|
(c)
Other current liabilities |
793.198 |
471.005 |
418.268 |
|
(d) Short-term
provisions |
162.798 |
176.349 |
115.971 |
|
Total Current
Liabilities (4) |
3753.648 |
1893.305 |
1261.047 |
|
|
|
|
|
|
TOTAL |
5015.220 |
2829.292 |
2337.578 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
900.715 |
386.839 |
357.148 |
|
(ii)
Intangible Assets |
19.120 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
330.408 |
211.175 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
9.117 |
|
(c) Deferred tax assets (net) |
0.000 |
25.962 |
0.000 |
|
(d) Long-term Loan and Advances |
70.403 |
117.986 |
30.530 |
|
(e) Other
Non-current assets |
10.468 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1331.114 |
741.962 |
396.795 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
873.540 |
576.304 |
655.136 |
|
(c)
Trade receivables |
2041.024 |
1303.267 |
1047.358 |
|
(d) Cash
and cash equivalents |
225.763 |
7.268 |
151.560 |
|
(e)
Short-term loans and advances |
434.549 |
120.267 |
68.189 |
|
(f)
Other current assets |
109.230 |
80.224 |
18.540 |
|
Total
Current Assets |
3684.106 |
2087.330 |
1940.783 |
|
|
|
|
|
|
TOTAL |
5015.220 |
2829.292 |
2337.578 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3262.423 |
2214.013 |
2298.896 |
|
|
|
Other Income |
64.982 |
32.500 |
29.355 |
|
|
|
TOTAL (A) |
3327.405 |
2246.513 |
2328.251 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2074.848 |
1556.328 |
1303.280 |
|
|
|
Purchases of Stock-in-Trade |
192.618 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(174.781) |
39.978 |
(18.736) |
|
|
|
Employees benefits expense |
474.247 |
203.127 |
112.775 |
|
|
|
Other expenses |
913.698 |
517.111 |
382.142 |
|
|
|
TOTAL (B) |
3480.630 |
2316.544 |
1779.461 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(153.225) |
(70.031) |
548.790 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
161.854 |
69.238 |
23.744 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(315.079) |
(139.269) |
525.046 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.031 |
27.693 |
26.948 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(362.110) |
(166.962) |
498.098 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
36.908 |
(51.912) |
168.902 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(399.018) |
(115.050) |
329.196 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(326.37) |
(109) |
312 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(11.99) |
(5.12) |
14.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(11.10) |
(7.54) |
21.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.73) |
(6.44) |
21.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.65) |
(0.18) |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.84 |
0.91 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.10 |
1.54 |
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 |
10.559 |
10.559 |
12.226 |
|
Reserves & Surplus |
1012.646 |
897.595 |
547.375 |
|
Net
worth |
1023.205 |
908.154 |
559.601 |
|
|
|
|
|
|
long-term borrowings |
20.844 |
20.844 |
700.205 |
|
Short term borrowings |
93.910 |
803.590 |
1445.995 |
|
Total
borrowings |
114.754 |
824.434 |
2146.200 |
|
Debt/Equity ratio |
0.112 |
0.908 |
3.835 |
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) |
|
Sales |
2298.896 |
2214.013 |
3262.423 |
|
|
|
(3.692) |
47.353 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2298.896 |
2214.013 |
3262.423 |
|
Profit/ (Loss) |
329.196 |
(115.050) |
(399.018) |
|
|
14.32% |
(5.20%) |
(12.23%) |
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 |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from others |
679.906 |
0.000 |
|
Deferred payment liabilities |
20.299 |
20.844 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
803.590 |
|
Other loans and advances |
850.000 |
0.000 |
|
|
|
|
|
Total |
1550.205 |
824.434 |
CHANGE OF ADDRESS
The Registered Office of the company has been
shifted from Bhandup Village Road, Bhandup (West), Mumbai – 400078,
Maharashtra, India to the present address w.e.f.19.07.2013.
CORPORATE INFORMATION
WMI Konecranes India Limited the Company formerly known as
WMI Cranes Limited was incorporated in the year 1975. The Company is engaged in
the business of manufacturing of Material Handling Equipment the cranes
manufactured are extensively used for Handling materials in Machine shop
Structural shop Chemical fertilizer and paper plants cement factories Dams
Stock yard etc. The Company is a subsidiary of Konecranes Finance Corporation
w.e.f. February 2011. During the year the Company has entered into composite
scheme of arrangement and amalgamation with Konecranes India Private Limited
KIPL whereby engineering and design centre division of KIPL got demerged to
Konecranes Shares Services India Private Limited and merger of residual KIPL into
the Company.
OPERATIONS
Company inaugurated its new Jejuri Facility for production with the intention of increasing its production capacity
Company also completed all the merger formalities with regards
to merger of Konecranes India Private Limited with WMI Konecranes India Limited
and demerger formalities by which engineering division was demerged with
Konecranes Shared Services India Private Limited.
AMALGAMATION
ACCOUNTING
The company treats an amalgamation in the nature of merger
if it satisfies all the following criteria
I. All the assets and liabilities of the transferor company become after amalgamation the assets and liabilities of
the transferee company.
II. Shareholders holding not less than 90% of the face value of the equity shares of the transferor company other than the equity shares already held therein immediately before the amalgamation by the transferee company or its subsidiaries or their nominees become equity shareholders of the transferee company.
III. The consideration for amalgamation receivable by those equity shareholders of the transferor company who agree to become shareholders of the transferee company is discharged by the transferee company wholly by the issue of equity shares except that cash may be paid in respect of any fractional shares.
IV. The business of the transferor company is intended to be carried on after the amalgamation by the transferee company.
V.
The transferee company does not intend to make
any adjustment to the book values of the assets and liabilities of the
transferor company except to ensure uniformity of accounting policies.
All other amalgamations are in the nature of purchase.
The company accounts for all amalgamations in the nature of
merger using the pooling of interest method. The application of this method
requires the company to recognize any non-cash element of the consideration at
fair value. The company recognizes assets liabilities and reserves whether
capital or revenue of the transferor company at their existing carrying amounts
and in the same form as at the date of the amalgamation. The balance in the
statement of profit and loss of the transferor company is transferred to the
general reserve. The difference between the amount recorded as share capital
issued plus any additional consideration in the form of cash or other assets
and the amount of share capital of the transferor company is adjusted in
reserves.
An amalgamation in the nature of purchase is accounted for using the purchase method. The cost of an acquisition amalgamation is measured as the aggregate of the consideration transferred measured at fair value. Other aspects of accounting are as below:
I. The assets and liabilities of the transferor company are recognized at their fair values at the date of amalgamation. The reserves whether capital or revenue of the transferor company except statutory reserves are not recognized.
II. Any excess consideration over the value of the net assets of the transferor company acquired is recognized as goodwill. If the amount of the consideration is lower than the value of the net assets acquired the difference is treated as capital reserve.
III.
The goodwill arising on amalgamation is
amortized to the statement of profit and loss on a systematic basis over its
useful life not exceeding five years.
FIXED ASSETS:
· Land
Buildings
Factory
Building
Other
building
Plant
and Equipment
Other
plant and Equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
Equipments
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. 60.00 |
|
|
1 |
Rs. 102.19 |
|
Euro |
1 |
Rs. 80.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.