MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
VOLKSWAGEN INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-1, MIDC Industrial Area, Phase III, Village Nigoje Mhalunge, Kharabwadi
Chakan, Taluka Khed, Pune – 410501, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.02.2007 |
|
|
|
|
Com. Reg. No.: |
11-133117 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 16192.370 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102PN2007FTC133117 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14433G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV4229P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing passenger
automotive cars. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 56000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of ‘Volkswagen Group India’. It is a
well-established and a reputed company having a fine track record. There seems drastic dip in the profit of the company during current
year. There also seems some accumulated losses recorded by the company which
seems to be reducing over years. However, subject receives strong financial and operational support
from its parent company. Trade relations are reported as decent. Business is active. Payment
terms are regular and as per commitment. The company can be considered good 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
Uptick in agriculture
and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and Jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash credit: AA- |
|
Rating Explanation |
High degree of safety. It carry very low
credit risk. |
|
Date |
01.11.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter Credit: A1+ |
|
Rating Explanation |
Highest degree of safety. It carry lowest
credit risk. |
|
Date |
01.11.2013 |
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 DECLINED BY
|
Name : |
Mr. Ganesh Sharma |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-2135-661024 |
|
Date : |
13.05.2014 |
LOCATIONS
|
Registered Office / Factory: |
E-1, MIDC Industrial Area, Phase III, Village Nigoje Mhalunge,
Kharabwadi Chakan, Taluka Khed, Pune-410501, |
|
Tel. No.: |
91-2135-661070 / 661000 / 063 / 661058 / 661060 / 661179 /
661024/661776 |
|
Fax No.: |
91-2135-661047 / 661044/661776 |
|
E-Mail : |
devendra.malegaonkar@volkswagen.co.in
|
|
Website : |
|
|
Area : |
700 acers |
|
Location : |
Owned |
DIRECTORS
As on 17.05.2013
|
Name : |
Mr. Mahesh Subramanian Kodumudi |
|
Designation : |
Managing director |
|
Address : |
D-801, Waterfront, Kalyani Nagar, Pune-411006, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1965 |
|
Date of Appointment : |
04.01.2011 |
|
PAN No.: |
BBRPK9888H |
|
DIN No.: |
03491209 |
|
|
|
|
Name : |
Mr. Jurgen Klopffer |
|
Designation : |
Whole-time director |
|
Address : |
Bungalow No.545, Sindh Housing Society, Aundh, Pune-411045,
Maharashtra, India |
|
Date of Birth/Age : |
05.07.1964 |
|
Date of Appointment : |
04.01.2011 |
|
DIN No.: |
03486952 |
|
|
|
|
Name : |
Mr. Andreas Lauenroth |
|
Designation : |
Whole-time director |
|
Address : |
Buchenweg 41, Isenbuttel, 38550, Germany |
|
Date of Birth/Age : |
05.12.1963 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No.: |
06379344 |
KEY EXECUTIVES
|
Name : |
Mr. Bhushan Ghanashyam Gokhale |
|
Designation : |
Secretary |
|
Address : |
Sarita Vaibhav, B-7 Building, Flat No. 16, Sinhagad Road, Pune-411030,
Maharashtra, India |
|
Date of Birth/Age : |
03.12.1971 |
|
Date of Appointment : |
04.06.2012 |
|
PAN No.: |
AEYPG9398B |
|
|
|
|
Name : |
Mr. Ganesh Sharma |
|
Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.05.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Volkswagen International |
145887325 |
|
Volkswagen AG, Deutschland |
1 |
|
Volkswagen AG, Deutschland |
501625161 |
|
|
|
|
TOTAL
|
647512487 |
|
Names of Preference Shareholders |
No. of Shares |
|
Volkswagen AG, Deutschland |
971724552 |
|
TOTAL
|
971724552 |
Equity Share Break up (Percentage of Total Equity)
As on 17.05.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing passenger
automotive cars. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Motor Car |
Nos. |
110000 |
648424113 |
Notes:
i) Installed capacity, as certified by the management
and accepted by the auditors without verification, being a technical matter
ii) All capacities are set up after 25.07.1991
an no licenses are required in terms of notification No.477 (E) under the
industries (development and regulation) Act, 1951. A declaration to this effect
has been mentioned in the industrial entrepreneur’s memorandum files in this
regard.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
·
HSBC Bank, Near ·
Deutsche Bank, Mumbai, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Water House Chartered Accountants |
|
Address : |
252, Veer
Sarvarkar Marg, Shivaji Park, Dadar (West), Mumbai-400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Holding company: |
· Volkswagen International Finance NV, Netherlands |
|
|
|
|
Ultimate Holding company: |
· Porsche Automobil Holding SE |
|
|
|
|
Fellow Subsidiary company: |
· Volkswagen AG · Skoda Auto India Private Limited, India · CIN: U34100MH1999PTC123254 · Volkswagen Group Sales India Private Limited, India · CIN: U50401MH2007FTC168, 439 · Volkswagen of South Africa, South Africa · Audi AG, Germany · Skoda AS, Germany · Volkswagen coaching GMBH, Germany · Iav India Private Limited, India · CIN: U72200PN2007FTC130137 · Volkswagen navarra SA, South Africa · Volkswagen Group of america Inc, United States |
|
|
|
|
Other Related party: |
· Global Automotive CV |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1636956932 |
Equity Shares |
Rs.10/- each |
Rs. 16369.569 Millions |
|
971724552 |
Preference Shares |
Rs.10/- each |
Rs. 9717.246 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 26086.815
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
647512487 |
Equity Shares |
Rs.10/- each |
Rs. 6475.125 Millions |
|
971724552 |
Preference Shares |
Rs.10/- each |
Rs. 9717.245 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 16192.370
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 |
16192.370 |
14386.820 |
14386.815 |
|
(b) Reserves & Surplus |
(2082.140) |
(6622.670) |
(8572.832) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
5200.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
14110.230 |
12964.150 |
5813.983 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
23957.400 |
25250.980 |
24006.954 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.00 |
|
(d) long-term
provisions |
154.050 |
337.510 |
893.803 |
|
Total Non-current
Liabilities (3) |
24111.450 |
25588.490 |
24900.757 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6102.490 |
6751.500 |
8996.643 |
|
(b) Trade payables |
10613.490 |
11901.580 |
13232.797 |
|
(c) Other current
liabilities |
4309.220 |
3239.190 |
221.523 |
|
(d) Short-term
provisions |
13.410 |
39.450 |
124.848 |
|
Total Current
Liabilities (4) |
21038.610 |
21931.720 |
22575.811 |
|
|
|
|
|
|
TOTAL |
59260.290 |
60484.360 |
53290.551 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
24834.570 |
27132.840 |
25231.928 |
|
(ii) Intangible Assets |
617.100 |
511.620 |
319.996 |
|
(iii) Capital
work-in-progress |
1911.520 |
2069.230 |
2133.746 |
|
(iv)
Intangible assets under development |
121.290 |
56.120 |
237.942 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2199.110 |
1952.010 |
2300.392 |
|
(e) Other
Non-current assets |
7480.030 |
4121.690 |
4375.339 |
|
Total Non-Current
Assets |
37163.620 |
35843.510 |
34599.343 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
9623.100 |
10870.380 |
6041.994 |
|
(c) Trade receivables |
4215.080 |
3042.920 |
2938.967 |
|
(d) Cash and cash
equivalents |
4246.520 |
2752.670 |
3738.260 |
|
(e) Short-term loans
and advances |
2055.650 |
2148.880 |
4947.950 |
|
(f) Other current
assets |
1956.320 |
5826.000 |
1024.037 |
|
Total Current Assets |
22096.670 |
24640.850 |
18691.208 |
|
|
|
|
|
|
TOTAL |
59260.290 |
60484.360 |
53290.551 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
2032.810 |
53756.030 |
NA |
|
|
|
Other Income |
5153.470 |
5921.63 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE EXCEPTIONAL ITEM, DEPRECIATION AND INTEREST |
1576.410 |
2608.440 |
NA |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION AND
INTEREST |
7409.100 |
7532.140 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE EXCEPTIONAL ITEM AND TAXATION |
(5832.690) |
(4923.700) |
NA |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEM |
6.600 |
8246.400 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX |
767.310 |
3322.700 |
NA |
|
|
|
|
|
|
|
|
|
|
TAX |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX |
767.310 |
3322.700 |
(5754.160) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(7110.440) |
(10433.140) |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(6343.130) |
(6622.670) |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.21 |
7.12 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
37.75
|
6.18 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.34
|
5.69 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.26 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.13
|
2.47 |
5.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.12 |
0.83 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
14386.815 |
14386.820 |
16192.370 |
|
Reserves & Surplus |
(8572.832) |
(6622.670) |
(2082.140) |
|
Net
worth |
5813.983 |
7764.150 |
14110.230 |
|
|
|
|
|
|
long-term borrowings |
24006.954 |
25250.980 |
23957.400 |
|
Short term borrowings |
8996.643 |
6751.500 |
6102.490 |
|
Total
borrowings |
33003.597 |
32002.480 |
30059.890 |
|
Debt/Equity
ratio |
5.677 |
4.122 |
2.130 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
53756.030 |
2032.810 |
|
|
-96.218 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
53756.030 |
2032.810 |
|
Profit |
3322.700 |
767.310 |
|
|
6.18% |
37.75% |
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 |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
LITIGATION DETAILS:
|
HIGH
COURT OF BOMBAY
|
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
NOTE: Registered Office of the company has been
shifted from 110-111/10, Baner Road, Off NH-4, Near Sadanand Resorts,
Pune-411045, Maharashtra, India to the present address w.e.f. 11.12.2008
MARKET / BUSINESS
OVERVIEW AND OUTLOOK
German engineering
with highest quality made by Volkswagen in India
In the Chakan
(Pune) Plant, Volkswagen India Private Limited currently produces the
Volkswagen Polo, the Volkswagen Vento, the KODA Fabia and the KODA Rapid for
the domestic market as well as for export markets in Asia, Africa and the
Middle East.
Volkswagen Pune
Plant started production of vehicles in March 2009 with the KODA Fabia,
followed by the Volkswagen Polo in December 2009. The Volkswagen Vento, a car
specifically designed for Indian market rolled out of the assembly line in
August 2010, followed by the KODA Rapid in November 2011.
On July 08, 2011,
Volkswagen India celebrated the roll-out of the 100,000th car manufactured at
the Pune Plant, a Volkswagen Vento. One yearlater, in July 2012, Volkswagen
India rolled-out the 200,000th car which also happened to be the
first Left Hand Drive Vento for an export market.
The export program
of Volkswagen India commenced with the export of the right hand drive Vento
being exported to South Africa in 2011. Since 2012, Volkswagen India has also
been exporting cars manufactured at its Pune Plant as fully built units to Sri
Lanka, Nepal, Bangladesh, Malaysia and Middle East Countries (Left hand drive
version of Vento).
In April 2013,
Volkswagen India took the next step in the export business with the
inauguration of the Parts and Components Business Unit.
Through the Parts
and Components Business Unit, the company has now started the export of car
body and assembly parts of Vento and Polo to Malaysia, where they will be
assembled for the domestic market.
The Pune Plant has
a manufacturing capacity of 200,000 vehicles per year with an approximate local
content in India of 70%. In 2012, about 96,012 vehicles were produced by around
3,600 employees working in a two shift system for six days per week.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term Borrowings |
|
|
|
Rupee term loans from banks |
5550.000 |
5550.000 |
|
Foreign currency term loans from banks |
18407.400 |
19700.980 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
400.000 |
4550.000 |
|
Working capital loans from banks |
3198.340 |
789.430 |
|
Intercorporate deposits |
55.500 |
0.000 |
|
Other loans and advances, others |
2448.650 |
1412.070 |
|
Total |
30059.890 |
32002.480 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
Claims against the Company not acknowledged as debts |
|
|
|
- Custom Duty Matters |
0.000 |
590.740 |
|
- Excise and Service Tax Matters |
258.780 |
203.660 |
|
Total |
258.780 |
794.400 |
Note:
It is not practicable
for the Company to estimate the timings of cash outflows, if any, in respect of
the above pending resolution of the respective proceedings.
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
Intangible assets
· Computer software
· Know-how
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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
54 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.