MIRA INFORM REPORT
|
Report Date : |
09.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
L AND T CHIYODA LIMITED |
|
|
|
|
Registered
Office : |
L and T House, Ballard Estate, Mumbai – 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.11.1994 |
|
|
|
|
Com. Reg. No.: |
11-083035 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.90.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920MH1994PLC083035 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1818N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Company is in engaged in Engineering Services. |
|
|
|
|
No. of Employees
: |
858 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3300000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a part of Larsen and Toubro group. It is well-established and a reputed company having fine track. Financial position of the company seems to be sound and healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered good for normal 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
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.
INFORMATION DENIED
Management is non-cooperative (22-67525656)
LOCATIONS
|
Registered Office : |
L and T House, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-67525656 |
|
Fax No.: |
91-22-67525893 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
B.P. Estate, |
|
Tel. No.: |
91-265-2771003/ 2771902 |
|
Fax No.: |
91-265-2771596/ 2774985 |
|
E-Mail : |
DIRECTORS
As on: 02.08.2013
|
Name : |
Mr. Ravindranath Kundurti |
|
Designation : |
Director |
|
Address : |
Ravindranath-A-604, Eternia, Hiranandani Gardens, Powai, Mumbai –
400076, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1950 |
|
Date of Appointment : |
11.05.2006 |
|
DIN No.: |
00262462 |
|
|
|
|
Name : |
Mr. Pramod Shushila Kapoor |
|
Designation : |
Director |
|
Address : |
Kapoor Pramod, Flat No. 101, Manohar Park Appartment, Mahatma Phule
Cross Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1959 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
02914307 |
|
|
|
|
Name : |
Mr. Deepraj Saxena |
|
Designation : |
Director |
|
Address : |
D-4, Vrajdeep Apartment, Behind Arundeep Complex, Race Course,
Vadodara – 390007, Gujarat, India |
|
Date of Birth/Age : |
01.01.1961 |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
05234543 |
|
|
|
|
Name : |
Mr. Ryosuke Shimizu |
|
Designation : |
Director |
|
Address : |
1-20-7, Harajuku, Totsuka – KU, Yokohama – 2450063, Japan |
|
Date of Birth/Age : |
27.01.1955 |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
06530431 |
|
|
|
|
Name : |
Mr. Hideo Matsui |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
1-6-9, Kamakutayama, Kamakura – SHI, Kanagawa – 2480031, Japan |
|
Date of Birth/Age : |
28.08.1960 |
|
Date of Appointment : |
21.03.2013 |
|
DIN No.: |
06530429 |
|
|
|
|
Name : |
Mr. Kiyomi Torataro Inoue |
|
Designation : |
Additional Director |
|
Address : |
7A, Patwa Estate, Behind Bombay Shopping Centre, Off R.C. Dutt Road,
Alkapuri, Vadodara – 390007, Gujarat, India |
|
Date of Birth/Age : |
10.02.1953 |
|
Date of Appointment : |
12.09.2013 |
|
DIN No.: |
00255721 |
KEY EXECUTIVES
|
Name : |
Mr. Jigishbhai Vindhutkumar Vasa |
|
Designation : |
Secretary |
|
Address : |
Vasa Vidhutkumar Jigishbhai, 3/B Ami Park Society, Near Old Maheshwar
Nagar, Subhanpura, Vadodara-390027, Gujarat, India |
|
Date of Birth/Age : |
05.03.1978 |
|
Date of Appointment : |
11.03.2002 |
|
PAN No.: |
ACFPV1670E |
|
|
|
|
Name : |
Mr. Sudhakar Kanneganti |
|
Designation : |
Manager |
|
Address : |
Flat No. 103, 1st Floor, Tower A Aarcon Abhay, Opposite
Vuda Office, L&T Circle, Karelibaug, Vadodara – 390018, Gujarat, India |
|
Date of Birth/Age : |
18.01.1957 |
|
Date of Appointment : |
17.08.2012 |
|
PAN No.: |
AAZPK4758J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 02.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Larsen and Toubro Limited |
|
4499997 |
|
Chiyoda Corporation |
|
4499997 |
|
Saxena Deepraj and Larsen and Toubro Limited |
|
1 |
|
Matsui Hideo and Chiyoda Corporation |
|
1 |
|
Shimizu Ryosuke and Chiyoda Corporation |
|
1 |
|
Kapoor Shushila Pramod and Larsen and Toubro Limited |
|
1 |
|
Ravindranath Kundurti and Larsen And Toubro Limited |
|
1 |
|
Inoue Torataro Kiyomi and Chiyoda Corporation |
|
1 |
|
|
|
|
|
Total |
|
9000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 02.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.99 |
|
Bodies corporate |
|
49.99 |
|
Directors or relatives of directors |
|
0.02 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is in engaged in Engineering Services. |
||||
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|
|
||||
|
Product : |
|
GENERAL INFORMATION
|
Customers : |
Indian Clients: ·
Oil India Limited(OIL), Assam ·
Gas Authority of India Limited, ·
Indian Petrochemical Corporation
Limited, ·
Cairn Energy India Pty. Limited,
Chennai ·
Chennai Petroleum Corporation Limited,
Chennai ·
Indian Oil Corporation Limited Delhi
for petroleum refining projects in their various refineries like, Panipat
Refinery, Digboi Refinery, Barauni Refinery, Haldia Refinery, Gujarat
Refinery, Guwahati Refinery etc. ·
Kochi Refineries Limited, ·
Shriram Fertilizer and Chemicals
Limited, ·
Bharat petroleum Coproration Limited,
Mumbai ·
Hindustan Petroleum Corporation
Limited(HPCL),Mumbai ·
Oil and Natural Gas Corporation
Limited, Mumbai Overseas Clients : ·
Abu Dhabi Gas Industries
Company(GASCO), ·
Abu Dhabi Gas Liquefaction
Company(ADGAS), ·
·
Ruwais Fertilizer Industries, ·
Bahrain Petroleum Company, ·
Karnaphuli Fertilizers Company
Limited(KAFCO), ·
BA Energy Inc., ·
Haldor Topsoe A/S, ·
Kashima Oil Refinery, ·
Melaka Refinery, Malasiya ·
·
Foster Wheeler Italiana, ·
·
Qatar Fertiliser Company(S.A.Q), ·
Qatar Fuel Additives Company Limited,
·
Qatar Shell GTL Limited, ·
·
Ras Laffan LNG Company Limited, ·
SAFRA Company Limited, ·
Saudi Formaldehyde Chemical Company
Limited, ·
Saudi International Petrochemical
Company, ·
OJSC Taneco Refinery,
Tatarstan-Russia |
|
|
|
|
No. of Employees : |
858 (Approximately) |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountant |
|
Address : |
194, Ravindra Annexe, Churchgate Reclamation, |
|
Tel. No.: |
91-22-22047722/ 23/ 66338343 |
|
Fax No.: |
91-22-66338352 |
|
E-Mail : |
|
|
|
|
|
Other Related Parties : |
CIN
No.:L99999MH1946PLC004768
|
|
|
|
|
Group Company |
L & T Reality Limited Address: L&T Business Park, Tower A, Gate No. 5, Saki Vihar Road, Mumbai – 400072, Maharashtra, India |
CAPITAL STRUCTURE
As on: 02.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000
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 |
90.000 |
90.000 |
90.000 |
|
(b) Reserves & Surplus |
735.507 |
631.179 |
568.955 |
|
(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) |
825.507 |
721.179 |
658.955 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.514 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.514 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
41.419 |
64.880 |
87.373 |
|
(c)
Other current liabilities |
62.677 |
88.105 |
61.919 |
|
(d)
Short-term provisions |
34.916 |
22.221 |
14.095 |
|
Total
Current Liabilities (4) |
139.012 |
175.206 |
163.387 |
|
|
|
|
|
|
TOTAL |
964.519 |
896.385 |
822.856 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
44.149 |
55.281 |
52.098 |
|
(ii)
Intangible Assets |
11.498 |
9.601 |
7.610 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
7.389 |
1.890 |
0.000 |
|
(d) Long-term Loan and Advances |
48.126 |
46.221 |
48.910 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
111.162 |
112.993 |
108.618 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
154.073 |
60.403 |
180.503 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
288.489 |
446.407 |
217.419 |
|
(d)
Cash and cash equivalents |
127.085 |
51.755 |
117.640 |
|
(e)
Short-term loans and advances |
223.269 |
150.040 |
94.624 |
|
(f)
Other current assets |
60.441 |
74.787 |
104.052 |
|
Total
Current Assets |
853.357 |
783.392 |
714.238 |
|
|
|
|
|
|
TOTAL |
964.519 |
896.385 |
822.856 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1136.418 |
1153.893 |
926.575 |
|
|
Other Income |
21.911 |
15.505 |
21.107 |
|
|
TOTAL
|
1158.329 |
1169.398 |
947.682 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
14.797 |
31.654 |
(38.618) |
|
|
Employees benefits expense |
705.721 |
675.821 |
518.005 |
|
|
Other expenses |
285.177 |
347.658 |
311.439 |
|
|
TOTAL
|
1005.695 |
1055.133 |
790.826 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
152.634 |
114.265 |
156.856 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
152.634 |
114.265 |
156.856 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
23.162 |
25.071 |
21.704 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
129.472 |
89.194 |
135.152 |
|
|
|
|
|
|
|
Less |
TAX |
25.144 |
26.970 |
44.222 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
104.328 |
62.224 |
90.930 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
631.184 |
568.960 |
478.030 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
735.512 |
631.184 |
568.960 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
971.910 |
658.920 |
407.060 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
11.59 |
6.91 |
10.10 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.01 |
5.32 |
9.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.39 |
7.73 |
14.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.53 |
9.97 |
16.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.12 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.14 |
4.47 |
4.37 |
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 |
90.000 |
90.000 |
90.000 |
|
Reserves & Surplus |
568.955 |
631.179 |
735.507 |
|
Net
worth |
658.955 |
721.179 |
825.507 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
926.575 |
1153.893 |
1136.418 |
|
|
|
24.533 |
(1.514) |
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 |
926.575 |
1153.893 |
1136.418 |
|
Profit |
90.930 |
62.224 |
104.328 |
|
|
9.81% |
5.39% |
9.18% |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
YEAR IN RETROSPECT
Overall the year 2012-2013 has been a satisfying year. Company has been able to secure high value international engineering job during the year which has resulted in maintaining growth in total income and margin for the year.
The Sales and other income for the year stood at Rs.1,140.950 millions as against Rs.1,122.680 millions for the previous financial year registering a growth of 1.6%. The major portion of sales is from international customers and international jobs of parent company.
New order inflow (including carried forward jobs) amounted to Rs.1,789.740 millions. Jobs to the extent of Rs.1,074.730 millions were executed during the year while jobs valuing to Rs.715.010 millions are carried over to the next financial year.
AWARDS
During the year, the Company has been awarded the prestigious National Award for Excellence in Cost Management by the Institute of Cost Accountants of India (ICAI). Company bagged the first prize in the category of 'Private - Service Sector (Medium)' for achieving business excellence by adopting the best cost management initiatives.
Company also has been awarded National Award-2012 by New Delhi-based Consulting Engineers Association of India (CEAI) for Excellence in Engineering Consultancy Services for detailed engineering carried out for Reactor & Regenerator Section of INDMAX (FCC) Unit.
INDEX OF CHARGES
No Charges Exist for Company
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
|
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
65 |
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.