MIRA INFORM REPORT
|
Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MOMENTIVE PERFORMANCE MATERIALS (INDIA) PRIVATE LIMITED (w.e.f
29.12.2006) |
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Formerly Known
As : |
GE BAYER SILICONES (INDIA) PRIVATE LIMITED (w.e.f. 28.12.1998) GE SILICONES ( |
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Registered
Office : |
Suvey. No. 09, Electronic City (West), Hosur Road, Bangalore - 560100,
Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
22.11.1995 |
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Com. Reg. No.: |
08-019244 |
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Capital
Investment / Paid-up Capital : |
Rs. 286.290 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U24299KA1995PTC019244 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG00578E |
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PAN No.: [Permanent Account No.] |
AAACG9931F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture (including manufacture through sub-contract)
and Distribution of Silicone and Silicone Related Products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5200000 |
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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 a part of “Momentive Performance Materials Inc.”, USA. It
is an established company having moderate track record. The company possesses an average financial profile marked by decent net
worth base and slight working capital intensive operations during 2013. The ratings also significantly take into consideration the
deterioration in the financial as well as liquidity profile of the ultimate
holding company which may further affect the subject. However, trade relations are fair. Business is active. Payment terms
are reported as 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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.
Bharti Airtel has
raised Rs.2,453.2 crore (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.
LOCATIONS
|
Registered Office : |
Suvey No. 09, Electronic City (West), Hosur Road, Bangalore - 560100,
Karnataka, India |
|
Tel. No.: |
91-80-49352183 / 49352222 |
|
Fax No.: |
91-80-49352233 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Factory : |
Phase II, SIPCOT Industrial Estate, Oragadam, Chennai,
Tamilnadu, India |
|
Location : |
Leased |
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Research and
Development Centre : |
Located at · Bangalore |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ramaswamy Muthuraman |
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Designation : |
Director |
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Address : |
# 48/49 1A, Cross Banshankari 3 Stage, V Block, Bangalore – 560085, Karnataka, India |
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Date of Birth/Age : |
02.06.1962 |
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Date of Appointment : |
07.07.2004 |
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PAN No.: |
AAGPH8403G |
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DIN No.: |
00043521 |
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Other Directorship:
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Name : |
Mr. Varghese Poulose Nalian |
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Designation : |
Director |
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Address : |
# 103, Sobha Ivory Apartments, |
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Date of Birth/Age : |
03.09.1966 |
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Date of Appointment : |
01.08.2004 |
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PAN No.: |
ABBPN4660K |
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DIN No.: |
00045961 |
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Name : |
Mr. Robert Gnann |
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Designation : |
Director |
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Address : |
Buchenkamosweg 18, Bergisch, Gladbach 51427 |
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Date of Birth/Age : |
16.06.1954 |
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Date of Appointment : |
25.05.2011 |
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DIN No.: |
03320237 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Aravind Menon |
|
Designation : |
Secretary |
|
Address : |
Flat No.103, Axis Sinopia Arekere Village, Bannergatta Road,
Bangalore-560072, Karnataka, India |
|
Date of Birth/Age : |
05.10.1985 |
|
Date of Appointment : |
26.03.2012 |
|
PAN No.: |
AWHPM5985B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
Momentive Performance
Materials GmbH, Germany |
28,629,003 |
100.00 |
|
V P Nallian |
1 |
0.00 |
|
R Muthuraman |
1 |
0.00 |
|
TOTAL |
28,629,005 |
100.00 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
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 |
%20PRIVATE%20LIMITED%20-%20269509%2007-Jun-2014_files/image001.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacture (including manufacture through sub-contract)
and Distribution of Silicone and Silicone Related Products. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
5th |
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PAN No.: |
AAEFP3641G |
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Ultimate Holding Company : |
¨ Momentive
Performance Materials Inc., USA |
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|
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Holding Company : |
¨ Momentive
Performance Materials GmbH |
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Fellow Subsidiaries : |
¨ Momentive
Performance Materials - Hong Kong ¨ Momentive
Performance Materials, Japan ¨ Momentive
Performance Materials, Shanghai ¨ Momentive
Performance Materials, Thailand ¨ Momentive
Performance Materials, USA ¨ Momentive Performance
Material, Nantong ¨ Momentive
Performance Materials, Singapore ¨ Momentive
Performance Materials, Brazil ¨ Momentive
Performance Materials, South Korea ¨ Momentive
Performance Materials Quartz GmbH |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28629005 |
Equity Shares |
Rs.10/- each |
Rs. 286.290
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 |
286.290 |
286.290 |
286.290 |
|
(b) Reserves & Surplus |
1014.769 |
885.729 |
730.416 |
|
(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) |
1301.059 |
1172.019 |
1016.706 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
220.043 |
369.192 |
461.676 |
|
(b) Deferred tax liabilities
(Net) |
29.237 |
22.053 |
13.841 |
|
(c) Other long term
liabilities |
13.850 |
10.706 |
10.251 |
|
(d) long-term provisions |
29.502 |
13.914 |
10.380 |
|
Total
Non-current Liabilities (3) |
292.632 |
415.865 |
496.148 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
293.112 |
229.005 |
0.000 |
|
(b) Trade payables |
625.795 |
360.537 |
403.555 |
|
(c) Other current liabilities |
323.644 |
214.101 |
141.938 |
|
(d) Short-term provisions |
5.549 |
46.118 |
26.381 |
|
Total
Current Liabilities (4) |
1248.100 |
849.761 |
571.874 |
|
|
|
|
|
|
TOTAL |
2841.791 |
2437.645 |
2084.728 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1123.476 |
784.181 |
346.458 |
|
(ii) Intangible Assets |
2.468 |
4.113 |
0.000 |
|
(iii) Capital work-in-progress |
3.071 |
193.187 |
352.902 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
101.520 |
210.080 |
189.998 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1230.535 |
1191.561 |
889.358 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
457.772 |
468.550 |
400.050 |
|
(c) Trade receivables |
785.721 |
522.910 |
382.883 |
|
(d) Cash and cash equivalents |
249.378 |
177.430 |
344.195 |
|
(e) Short-term loans and
advances |
108.781 |
71.305 |
63.623 |
|
(f) Other current assets |
9.604 |
5.889 |
4.619 |
|
Total
Current Assets |
1611.256 |
1246.084 |
1195.370 |
|
|
|
|
|
|
TOTAL |
2841.791 |
2437.645 |
2084.728 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income (Gross) |
3,435.600 |
2808.100 |
2125.200 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
Employees benefits expense |
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
324.400 |
285.300 |
179.300 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
120.800 |
45.800 |
20.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
203.600 |
239.500 |
159.100 |
|
|
|
|
|
|
|
Less |
TAX |
74.600 |
84.200 |
53.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
129.000 |
155.300 |
105.800 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
687.600 |
532.300 |
426.500 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
816.600 |
687.600 |
532.300 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
417.821 |
231.786 |
154.888 |
|
|
Service Income |
217.368 |
47.989 |
53.793 |
|
|
TOTAL
EARNINGS |
635.189 |
279.775 |
208.681 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
424.743 |
345.995 |
180.955 |
|
|
Capital Goods |
0.000 |
69.923 |
6.593 |
|
|
TOTAL
IMPORTS |
424.743 |
415.918 |
187.548 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
4.51 |
5.43 |
3.84 |
%20PRIVATE%20LIMITED%20-%20269509%2007-Jun-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20269509%2007-Jun-2014_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20269509%2007-Jun-2014_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
Net Profit Margin |
(%) |
5.93 |
8.53 |
7.49 |
|
|
|
|
|
|
|
|
|
Return on Total Assets |
(%) |
7.17 |
10.67 |
9.19 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) |
|
0.16 |
0.20 |
0.16 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio |
|
0.39 |
0.51 |
0.45 |
|
|
|
|
|
|
|
|
|
Current Ratio |
|
1.29 |
1.47 |
2.09 |
|
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 |
286.290 |
286.290 |
286.290 |
|
Reserves & Surplus |
730.416 |
885.729 |
1,014.769 |
|
Net
worth |
1,016.706 |
1,172.019 |
1,301.059 |
|
|
|
|
|
|
long-term borrowings |
461.676 |
369.192 |
220.043 |
|
Short term borrowings |
0.000 |
229.005 |
293.112 |
|
Total
borrowings |
461.676 |
598.197 |
513.155 |
|
Debt/Equity
ratio |
0.454 |
0.510 |
0.394 |
%20PRIVATE%20LIMITED%20-%20269509%2007-Jun-2014_files/image002.gif)
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) |
|
Sales (Gross) |
2,125.200 |
2,808.100 |
3,435.600 |
|
|
|
32.133 |
22.346 |
%20PRIVATE%20LIMITED%20-%20269509%2007-Jun-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales (Gross) |
2,125.200 |
2,808.100 |
3,435.600 |
|
Profit |
105.800 |
155.300 |
129.000 |
|
|
4.98% |
5.53% |
3.75% |
%20PRIVATE%20LIMITED%20-%20269509%2007-Jun-2014_files/image007.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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
Registered office has been shifted from The Millenia Tower B, 4th
Floor, Murphy Road, Ulsoor, Bangalore-560008, Karnataka, India to the present
address w.e.f. 15.06.2012
UNSECURED LOAN
|
Particulars |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
160.126 |
244.272 |
|
|
|
|
|
TOTAL |
160.126 |
244.272 |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10150976 |
19/03/2009 |
350,000,000.00 |
INDIAN BANK |
66, RAJAJI SALAI, CHENNAI, TAMIL NADU -
600001, INDIA |
A60077153 |
|
2 |
10100135 |
06/05/2008 |
696,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LTD |
NO.7, MG ROAD, BANGALORE, BANGALORE,
KARNATAKA - |
A37401544 |
YEAR IN RETROSPECT
The Company has
made considerable progress in the execution of its strategy this year,
delivering production growth and execution of projects. The aggregate sales of
Rs. 3435.600 Millions (P.Y. Rs.2808.100 Millions) for the year were higher by
22.35% when compared to the previous year. The profit after tax during the year
was at Rs.129.000 Millions when compared to Rs. 155.300 Millions during the
previous year. The increase in forex loss by 65.50% during the year contributed
to decrease in profit after tax.
FUTURE PROSPECTS
The Company will
continue to expand the product offerings through research and development
initiatives. Through these innovation initiatives they will continue to create
new generations of products and services which will drive revenue and earnings
growth.
The directors
believe that, the One Momentive will present opportunities to increase their
revenues by leveraging each of their and MSC's respective global footprints and
technology platforms and further provide opportunities to streamline their
business and reduce their cost structure.
PRODUCTS, SALES
AND MARKETS
One of the
Company’s strong points is its extensive network of channel partners and
dealers running across the lengths and breadths of the country. The Company
reviews and strengthens its distribution network on an ongoing basis.
The Company is
persistently looking out for escalation opportunities and has taken several
steps to pioneer new products, explore new markets, and perk up quality and to
reduce costs.
Besides this, the
marketing and sales division of the company works incessantly on ensuring that
its customers are well aware of the ways handling of its products and the
safety measures that are required to be taken care.
FIXED ASSETS
Tangible Assets
œ Land
œ Buildings
œ Plant and equipment
œ Furniture and fixtures
œ Vehicles
œ Office equipment
Intangible Assets
œ Computer software
WEBSITE DETAILS
NEWS
MOMENTIVE OPENS
NEW R AND D CENTER IN BANGALORE
New facility would
also serve as regional business HQ
Pradeesh
Chandran Bangalore November 1, 2012 Last Updated at
13:40 IST
US-based Momentive Performance Materials Holdings, a provider of specialty chemicals and materials to Original Equipment Manufacturers (OEMs) in the areas of automotive,
paints and agriculture sectors, has announced the opening of its research and development centre in
Bangalore. The R and D Centre will work on developing new technologies and
products for both global and regional markets in India, Africa and Middle East
(West Asia).
The R and D Centre is being operated by its
subsidiaries, Momentive Performance Materials and Momentive Speciality
Chemicals and is located at Electronic City in Bangalore. The company has
invested $4.5 million (around Rs 230.000 Millions).
The company also said that its new center in
Bangalore would be the business headquarters for India, Middle East and Africa
(IMEA) region. The company is also planning to hire around 100 people for the
new centre. Presently, 37 engineers and scientists are working at the centre, V
P Nalian, Momentive’s Vice President and General Manager for IMEA said.
He said the R and D centre will work on the
global technology platforms and product development for new and existing
applications in diverse industry segments, such as personal care, energy,
healthcare, electronics, automotive, and construction.
In addition, the facility will house its
commercial, business support, business process and information technology
functions.
Presently, Momentive has manufacturing Centre in
Chennai, which was opened in February this year. The company has invested $20
million at this facility.
“The IMEA region represents one of the
fast-growing regions for Momentive, and is projected to be a key growth area
for the company in the future,” Nalian added.
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. 59.20 |
|
|
1 |
Rs. 99.52 |
|
Euro |
1 |
Rs. 80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.