MIRA INFORM REPORT
|
Report
Date : |
06.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
CA
(INDIA) TECHNOLOGIES PRIVATE LIMITED (w.e.f. 08.08.2006) |
|
|
|
|
Formerly Known As : |
CA
COMPUTER ASSOCIATES INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Ground
Floor, Vibgyor Tower, Plot C-62, G
Block, Bandra-Kurla Complex, Bandra (East),Mumbai – 400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
16.01.1998 |
|
|
|
|
Com. Reg. No.: |
11-113052 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.
1624.937 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U72900MH1998PTC113052 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC4971D |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in the business of licensing, maintenance
and implementation of mainframe and midrange computer software products. |
|
|
|
|
No. of Employees : |
Information
declined by the management |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba
(47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD
13000000 |
|
|
|
|
Status
: |
Satisfactory
|
|
|
|
|
Payment
Behaviour : |
Usually
correct |
|
|
|
|
Litigation
: |
Clear |
|
|
|
|
Comments
: |
Subject
is an established company having satisfactory track record. General
financial position of the company seems to be sound and healthy.
Profitability of the company is fair. Trade
relations are fair. Business is active. Payment terms are reported to be
usually correct. The
company can be considered for business dealings at usual trade terms and
condition. |
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
BhartiAirtel has
raised Rs.2,453.2crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil Corporation
plans to invest Rs 7650 crore in setting up a petrochemical complex at its
almost complete Paradip refinery in Odhisha in three to four years. The company
board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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.
NiranjanNagula |
|
Contact
No.: |
91-9949679990 |
|
Date
: |
30.05.2014 |
LOCATIONS
|
Registered
Office : |
Ground
Floor, Vibgyor Tower, Plot C-62, G
Block, Bandra-Kurla Complex, Bandra (East),Mumbai – 400051, Maharashtra,
India |
|
Tel.
No.: |
91-22-66413800 |
|
Fax
No.: |
91-22-66413810 |
|
E-Mail
: |
|
|
Website
: |
DIRECTORS
As on 27.09.2013
|
Name
: |
Mr.
Sunil Manglore |
|
Designation
: |
Director |
|
Address
: |
A302,
Gundecha Symphony, Veera Desai Road, Extn., Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
Date
of Birth/Age : |
04.03.1946 |
|
Date
of Appointment : |
22.06.2012 |
|
DIN
No.: |
00192011 |
|
PAN
No.: |
ACIPM3393E |
|
|
|
|
Name
: |
Mr.
SakaarAnand |
|
Designation
: |
Director |
|
Address
: |
Flant
No.5B, Phase 10, Madhapur, Nivee Properties, Huda Techno Enclave, Madhapur,
Hyderabad – 500003, Andhra Pradesh, India |
|
Date
of Birth/Age : |
24.05.1976 |
|
Date
of Appointment : |
01.08.2013 |
|
DIN
No.: |
06645048 |
|
|
|
|
Name
: |
Mr.
Jay Harrison Diamond |
|
Designation
: |
Director |
|
Address
: |
84,
Wiltshire Road, Scarsdale, New York, 100583, USA |
|
Date
of Birth/Age : |
24.05.1951 |
|
Date
of Appointment : |
28.09.2005 |
|
DIN
No.: |
01349652 |
|
|
|
|
Name
: |
Mr.
NavneetGovil |
|
Designation
: |
Director |
|
Address
: |
775,
CaminaEscuelaSanjose, CA, USA |
|
Date
of Appointment : |
26.09.2013 |
|
DIN
No.: |
06698002 |
|
|
|
|
Name
: |
Mr.
HemantAchyute Parekh |
|
Designation
: |
Additional
Director |
|
Address
: |
B
1, Flat No. 703, Cauveri Apartment, Raunak Park, Pokhran Road 2, Thane
(West),Mumbai – 400604, Maharashtra, India
|
|
Date
of Birth/Age : |
03.04.1974 |
|
Date
of Appointment : |
13.03.2014 |
|
DIN
No.: |
02797909 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names
of Shareholders (Equity Shares) |
|
No. of Shares |
|
CA
International INC. , USA |
|
30033640 |
|
CA
Management INC., USA |
|
20 |
|
Total |
|
30033660 |
|
Names
of Shareholders (Preference Shares) |
|
No. of Shares |
|
CA
Foreign Spain SL, USA |
|
13246000 |
|
Total |
|
13246000 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
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 |
%20TECHNOLOGIES%20PRIVATE%20LIMITED%20-%20269795%20%2006-Jun-2014_files/image017.gif)
BUSINESS DETAILS
|
Line
of Business : |
Subject is engaged in the business of licensing,
maintenance and implementation of mainframe and midrange computer software
products. |
||||
|
|
|
||||
|
Products
: |
|
GENERAL INFORMATION
|
No.
of Employees : |
Information
declined by the management |
|
|
|
|
Bankers
: |
Not
Available |
|
|
|
|
Banking Relations : |
--- |
|
|
|
|
Auditors
: |
|
|
Name : |
B S R and Company Chartered
Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN No.: |
AAIFB7357B |
|
|
|
|
Fellow Subsidiary
Company: |
·
CA Management Inc. ·
CA (Singapore) Pte Limited ·
CA Sales and Marketing Inc. ·
CA Canada Co. ·
CA UK Limited ·
CA Nimsoft Inc. ·
CA Korea Inc. ·
Premier Management Insurance Inc. ·
CA (Pacific) Pty Limited ·
CA (Hong Kong) Limited |
|
|
|
|
Holding company |
CA Inc. |
CAPITAL STRUCTURE
As on 27.09.2013
AuthorisedCapital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity
Shares |
Rs.10/-
each |
Rs.320.000
Millions |
|
22500000 |
Preference Shares |
Rs.100/- each |
Rs.2250.000 Millions |
|
|
Total |
|
Rs.2570.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30033660 |
Equity
Shares |
Rs.10/-
each |
Rs.300.337 Millions |
|
13246000 |
Preference Shares |
Rs.100/- each |
Rs.1324.600 Millions |
|
|
Total |
|
Rs.1624.937
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 |
1624.937 |
1624.937 |
1624.937 |
|
(b) Reserves & Surplus |
1734.486 |
1252.779 |
957.706 |
|
(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) |
3359.423 |
2877.716 |
2582.643 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
34.300 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
355.749 |
394.699 |
522.773 |
|
(d) long-term provisions |
325.347 |
238.187 |
179.817 |
|
Total Non-current Liabilities (3) |
681.096 |
632.886 |
736.890 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1442.910 |
2150.679 |
1903.838 |
|
(c) Other current liabilities |
1595.736 |
1126.344 |
905.328 |
|
(d) Short-term provisions |
73.336 |
55.636 |
40.390 |
|
Total Current Liabilities (4) |
3111.982 |
3332.659 |
2849.556 |
|
|
|
|
|
|
TOTAL |
7152.501 |
6843.261 |
6169.089 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2474.548 |
2626.932 |
2788.424 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1.033 |
0.000 |
2.175 |
|
(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) |
46.891 |
148.640 |
166.244 |
|
(d) Long-term Loan and Advances |
416.894 |
336.983 |
328.808 |
|
(e) Other Non-current assets |
94.483 |
100.928 |
132.701 |
|
Total Non-Current Assets |
3033.849 |
3213.483 |
3418.352 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
1867.978 |
2409.156 |
1467.914 |
|
(d) Cash and cash equivalents |
1754.326 |
631.713 |
650.035 |
|
(e) Short-term loans and advances |
372.476 |
465.438 |
504.542 |
|
(f) Other current assets |
123.872 |
123.471 |
128.246 |
|
Total Current Assets |
4118.652 |
3629.778 |
2750.737 |
|
|
|
|
|
|
TOTAL |
7152.501 |
6843.261 |
6169.089 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
5273.284 |
|
|
|
|
Other
Income |
|
|
|
|
|
|
TOTAL |
6451.181 |
5273.284 |
3857.939 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office
Expenses |
|
|
|
|
|
|
Administrative
Expenses |
5429.350 |
4519.185 |
3306.444 |
|
|
|
Advertising
Expenses |
|
|
|
|
|
|
TOTAL |
5429.350 |
4519.185 |
3306.444 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX,
DEPRECIATION AND AMORTISATION ( |
1021.831 |
754.099 |
551.495 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
441.718 |
414.162 |
337.478 |
|
|
|
|
|
|
|
|
|
|
Prior period adjustments |
0.000 |
0.000 |
0.716 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
580.113 |
339.937 |
214.733 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
193.359 |
100.919 |
75.938 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
386.754 |
239.018 |
138.795 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
12.88 |
7.96 |
4.62 |
|
%20TECHNOLOGIES%20PRIVATE%20LIMITED%20-%20269795%20%2006-Jun-2014_files/image003.gif){kind=small}
%20TECHNOLOGIES%20PRIVATE%20LIMITED%20-%20269795%20%2006-Jun-2014_files/image004.gif){kind=small}
%20TECHNOLOGIES%20PRIVATE%20LIMITED%20-%20269795%20%2006-Jun-2014_files/image005.gif){kind=small}
%20TECHNOLOGIES%20PRIVATE%20LIMITED%20-%20269795%20%2006-Jun-2014_files/image006.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT
/ Total Income |
(%) |
6.00 |
4.53 |
3.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.17 |
5.08 |
3.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.12 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.09 |
0.97 |
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 |
1624.937 |
1624.937 |
1624.937 |
|
Reserves & Surplus |
957.706 |
1252.779 |
1734.486 |
|
Net worth |
2582.643 |
2877.716 |
3359.423 |
|
|
|
|
|
|
long-term borrowings |
34.300 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
34.300 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.013 |
0.000 |
0.000 |
%20TECHNOLOGIES%20PRIVATE%20LIMITED%20-%20269795%20%2006-Jun-2014_files/image019.gif)
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 |
3857.939 |
5273.284 |
6451.181 |
|
|
|
36.687 |
22.337 |
%20TECHNOLOGIES%20PRIVATE%20LIMITED%20-%20269795%20%2006-Jun-2014_files/image021.gif)
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 |
3857.939 |
5273.284 |
6451.181 |
|
Profit |
138.795 |
239.018 |
386.754 |
|
|
3.60% |
4.53% |
6.00% |
%20TECHNOLOGIES%20PRIVATE%20LIMITED%20-%20269795%20%2006-Jun-2014_files/image023.gif)
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if
available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from
B-1 2nd Floor, National Stock Exchange Plaza, BandraKurla Complex Bandra
[East], Maharashtra – 400051, India to present address w.e.f. 09.07.2009
BACKGROUND AND
PRINCIPAL ACTIVITIES
Subject was incorporated on 16 January 1998 as a subsidiary of CA International Inc. USA (“CA Inc”). The Company is primarily engaged in the business of licensing, maintenance and implementation of mainframe and midrange computer software products of CA Inc.
In November 2003, the Company set up a development center at Vanenburg IT Park, a Software Technology Park of India (“STPI”) unit atHyderabad, to provide software development services to CA Inc. As a part of its expansion plan, the Company commenced constructing its own campus in October 2007 at IT Park Area, Gachibowli, a Software Technology Park of India (“STPI”) unit at Hyderabad and has consolidated its existing facilities.
The Company had acquired the “Software development business” (“the Business”) of Arcot R&D Software Private Limited and InteQ ITServices (India) Private Limited. The Company has entered into Business Transfer Agreements (“the agreement”) with both companies listedbelow, whereby the transferor agrees to transfer the business with all its rights, title, interest, assets, liabilities whatsoever pertaining to the saidbusiness on as is where is condition in favor of the Company and the Company agrees to acquire and takeover the business free of allencumbrances on as is where is condition in accordance with and in the manner provided in the agreement. The amalgamation was accountedunder the purchase method. The details of the business acquired during the year ended 31 March 2012 are as under;
BUSINESS OPERATIONS
During the year the Company recorded a gross income of Rs. 6451.180 millions [Previous Year Rs.5273.280millions] and Net Profit / (Loss) after Depreciation and before tax is Rs. 580.110 millions [previous year Rs.339.930millions].
The Company has continued its emphasis on constructing niche position for itself in market place by spreading geographically, reaching out to various verticals, partnering with potential opportunities, developing customer relationships and building strong work-force. Some large deals undertaken during the year and the customers acquired in the year have improved Company’s performance as compared to the previous year. The Company is hopeful of bettering its performance in the next year.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipments
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.59.30 |
|
|
1 |
Rs.99.34 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Information Gathered by : |
PRT |
|
|
|
|
Analysis Done by : |
KAR |
|
|
|
|
Report Prepared by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
47 |
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.