MIRA
INFORM REPORT
|
Report Date : |
01.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
KONGOVI ELECTRONIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
377, IV Phase, Peenya Industrial Area, Bangalore-560 058, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
25.03.1981 |
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Com. Reg. No.: |
08-004156 |
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Capital
Investment / Paid-up Capital : |
Rs.40.945 Millions |
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|
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CIN No.: [Company Identification
No.] |
U27204KA1981PTC004156 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK04711A |
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PAN No.: [Permanent Account No.] |
AABCK0886G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Automated Trims. |
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No. of Employees
: |
425 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 160000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track. Profitability of the company seems to be low. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based – Long Term = BB+ |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
June 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based – Short Term = A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk |
|
Date |
June 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 PARTED BY
|
Name : |
Mr. Nagendra Kumar |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-8861003714 |
|
Date : |
27.02.2014 |
LOCATIONS
|
Registered Office / Factory 1
: |
377, IV Phase, Peenya Industrial Area, Bangalore-560 058, |
|
Tel. No.: |
91-80-28360563 |
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Mobile No.: |
91-8861003714 (Mr. Nagendra Kumar) |
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Fax No.: |
91-80-28362981 |
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E-Mail : |
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Website : |
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Area : |
1 Acer |
|
Location : |
Owned |
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|
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Factory 2 : |
53/A, 3rd Phase, Peenya Industrial Area, Bangalore-560 058,
Karnataka, India |
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Factory 3 : |
30/C, 2nd Phase, Peenya Industrial Area, Bangalore-560 058,
Karnataka, India |
DIRECTORS
As on 23.05.2013
|
Name : |
Mr. Shrinivas Kongovi |
|
Designation : |
Managing director |
|
Address : |
677, 9th Cross, II Stage, Banglore-560 086, |
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Date of Birth/Age : |
21.12.1951 |
|
Date of Appointment : |
25.03.1981 |
|
DIN No.: |
01616679 |
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|
Name : |
Ms. Gayathri Kongovi |
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Designation : |
Director |
|
Address : |
677, 9th Cross, II Stage, Banglore-560 086, |
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Date of Birth/Age : |
05.05.1956 |
|
Date of Appointment : |
25.03.1981 |
|
DIN No.: |
01616721 |
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|
|
|
Name : |
Mr. Shantha Dhruva Rao |
|
Designation : |
Director |
|
Address : |
677, 9th Cross, II Stage, Banglore-560 086, |
|
Date of Birth/Age : |
09.12.1927 |
|
Date of Appointment : |
25.03.1985 |
|
DIN No.: |
02507745 |
KEY EXECUTIVES
|
Name : |
Mr. Nagendra Kumar |
|
Designation : |
Senior Accounts Manager |
MAJOR SHAREHOLDERS
As on 23.05.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Shrinivas Kongovi |
172334 |
42.09 |
|
Kongovi Dhruv Rao |
176676 |
43.15 |
|
Gayathri Kongovi |
60438 |
14.76 |
|
Total |
409448 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 23.05.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Automated Trims. |
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Exports : |
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|
Products : |
Plastic Automated Trims |
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Countries : |
·
Argentina ·
Brazil |
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Imports : |
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Products : |
ABS (Raw Material) |
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Countries : |
·
Korea ·
UK |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Auto Tec Private Limited |
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Customers : |
·
TG Kirloskar Private Limited ·
Toyato ·
Hyundai ·
Volkswagen / Skoda ·
Ford ·
TATA ·
Nissan |
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No. of Employees : |
425 (Approximately) |
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Bankers : |
· State Bank of India, Specialised Mid Corporate Branch, No. 97, Railway Parallel Road, Kumarapark West, Bangalore - 560020,Karnataka, India ·
Kotak Mahindra Bank Limited |
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Facilities : |
Fund and Non-Fund = Rs.190.000 Millions
Long Term Borrowings Following term
loans from banks have been secured as under :
a.
Term
loan availed by the company from State Bank of India are secured by way of
first charge on the fixed assets of the company including land, building,
plant and machinery, other equipment’s and vehicles. b.
Car
loan availed by the company from Kotak Mahindra Prime Limited are secured by
way of first charges on cars. Short Term Borrowings Working capital
loan availed are secured by way of
floating charges on the current assets of the company including inventories
and book debts, further the above loans are also secured by the guarantee
given by the director. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
R. Ashokkumar Prabhashankar and Company Chartered Accountants |
|
Address : |
No.73, |
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Tel. No.: |
91-80-23537488 |
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Fax No.: |
91-80-23639950 |
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E-Mail : |
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PAN No.: |
AAAFK9286G |
CAPITAL STRUCTURE
After 23.05.2013
Authorised Capital : Rs.75.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.71.654 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.100/- each |
Rs.75.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
409448 |
Equity Shares |
Rs.100/- each |
Rs.40.945 Millions |
FINANCIAL DATA5.
[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 |
40.945 |
40.945 |
40.945 |
|
(b) Reserves & Surplus |
52.484 |
35.592 |
28.717 |
|
(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) |
93.429 |
76.537 |
69.662 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
86.469 |
49.570 |
12.803 |
|
(b) Deferred tax liabilities (Net) |
2.769 |
0.415 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
14.127 |
11.697 |
9.430 |
|
Total Non-current Liabilities (3) |
103.365 |
61.682 |
22.233 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
52.942 |
31.861 |
33.766 |
|
(b) Trade payables |
24.983 |
30.807 |
34.091 |
|
(c) Other current
liabilities |
7.681 |
5.737 |
4.700 |
|
(d) Short-term provisions |
0.000 |
3.998 |
0.000 |
|
Total Current Liabilities (4) |
85.606 |
72.403 |
72.557 |
|
|
|
|
|
|
TOTAL |
282.400 |
210.622 |
164.452 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
133.211 |
98.480 |
76.669 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.544 |
10.863 |
11.498 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
140.755 |
109.343 |
88.167 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
63.431 |
38.935 |
35.255 |
|
(c) Trade receivables |
68.422 |
48.583 |
30.389 |
|
(d) Cash and cash
equivalents |
0.832 |
4.239 |
3.314 |
|
(e) Short-term loans and
advances |
7.460 |
8.077 |
5.773 |
|
(f) Other current assets |
1.500 |
1.445 |
1.554 |
|
Total Current Assets |
141.645 |
101.279 |
76.285 |
|
|
|
|
|
|
TOTAL |
282.400 |
210.622 |
164.452 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
389.781 |
264.650 |
|
|
|
|
Other Income |
11.559 |
19.361 |
|
|
|
|
TOTAL |
401.340 |
284.011 |
NA |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
376.053 |
275.576 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
25.287 |
11.435 |
(6.181) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.229 |
4.413 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
17.058 |
7.022 |
(6.181) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(13.338) |
(20.360) |
(30.951) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION
ADJUSTED |
0.000 |
0.000 |
16.772 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.700 |
(13.338) |
(20.360) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
41.66 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.25 |
2.47 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.49 |
4.32 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.95 |
5.43 |
(3.76) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.15 |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.49 |
1.06 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65 |
1.40 |
1.05 |
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 |
40.945 |
40.945 |
40.945 |
|
Reserves & Surplus |
28.717 |
35.592 |
52.484 |
|
Net
worth |
69.662 |
76.537 |
93.429 |
|
|
|
|
|
|
long-term borrowings |
12.803 |
49.570 |
86.469 |
|
Short term borrowings |
33.766 |
31.861 |
52.942 |
|
Total
borrowings |
46.569 |
81.431 |
139.411 |
|
Debt/Equity
ratio |
0.668 |
1.064 |
1.492 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
|
264.650 |
389.781 |
|
|
|
|
47.282 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs. In
Millions |
|
Sales
|
|
264.650 |
389.781 |
|
Profit |
|
7.022 |
17.058 |
|
|
|
2.65% |
4.38% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
From Director |
2.500 |
2.500 |
|
Total |
2.500 |
2.500 |
OPERATIONS:
The shift to four wheeler segment of plating on plastic has not only put
us on high growth trajectory but has also put in the global automotive arena
ensuring longer term growth. The company is preferred supplier to OEM’s like
Toyata, Hyundai, Volkswagen and others. The efforts of past have started
yielding encouraging results reflected in growing sales amidst not so good
economic environment. The company has achieved a sales of Rs.401.430 Millions
during 2012-2013 as compared to a sales of Rs.284.011 Millions in previous
year, recording a growth of 41.34%. Similarly the EBDITA has improved has
improved from Rs.34.654 Millions during the previous year to Rs.54.818 Millions
during the current year. Substantial investment were made during the last three
years to augment the capacities. The 2012-13 capacity expansion being
implemented and commissioned successfully is now under optimization phase.
During the year they have added new customers viz Volkswagen – Argentina and
Volkswagen – Brazil. Apart from broadening the customer base, the company is
successfully putting efforts in deepening ties with the existing customer like
Toyata, Hyundai, Volkswagen resulting in substantially increased sales from
them.
There are firm indications of substantial increase on off-take from
Toyata, Hyundai India, Volkswagen, Ford, Nissan. The said increase will come
from additional programmes launched in domestic market as well as from the
increased export focus. The plans of our OME’s to make India an export hub for
cars and auto parts will further cement our export efforts. The supply to
Volkswagen – Argentina and Brazil will begin during 2013-14 and take a
substantial jump by 2014-15, typically, a programmes runs for 4-6 years at full
volume and if, the company performs to the satisfaction of the customers then
the company gets nominated for the next programme, as has been the case in the
past. With this the company’s future appears very reassuring.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90195600 |
02/09/2013 * |
219,900,000.00 |
State
Bank of India |
Specialised
Mid Corporate Branch, No.136, Railway Parallel Road, Kumarapark West,,
Bangalore, Karnataka - 560020, India |
B85648905 |
|
2 |
90192006 |
17/12/1998 * |
8,000,000.00 |
Karnataka
State Financial Corporation |
1/1 Thimmaiah
Road, Bangalore, Karnataka - 560052, India |
- |
|
3 |
90189454 |
18/02/1998 |
2,000,000.00 |
Karnataka
State Financial Corporation |
1/1
Thimmaiah Road, Near Cantonment Railway Station, Bangalore, Karnataka -
560052, India |
- |
|
4 |
90191770 |
09/01/1997 |
10,530,000.00 |
STATE
BANK OF INDIA |
Bangalore,
Bangalore, Karnataka, India |
- |
|
5 |
90191712 |
06/09/1996 |
10,530,000.00 |
Karnataka
State Financial Corporation |
25 M
G Road, Shankaranarayana Building, Bangalore, Karnataka - 560001, India |
- |
|
6 |
90191680 |
19/07/1996 |
400,000.00 |
K S
F C |
Bangalore,
Bangalore, Karnataka, India |
- |
|
7 |
90191630 |
01/04/1996 |
980,000.00 |
Karnataka
State Financial Corporation |
25 M
G Road, Shankaranarayana Building, Bangalore, Karnataka - 560001, India |
- |
|
8 |
90191533 |
16/11/1995 |
6,200,000.00 |
Karnataka
State Financial Corporation |
25 M
G Road, Shankaranarayana Building, Bangalore, Karnataka - 560001, India |
- |
|
9 |
90195272 |
20/06/2001 * |
11,000,000.00 |
State
Bank of India |
Peenya
Industrial Estate Branch, Bangalore, Karnataka - 560058, India |
- |
|
10 |
90191025 |
29/12/1992 |
2,650,000.00 |
Karnataka
State Financial Corporation |
25 M
G Road, Shankaranarayana Building, Bangalore, Karnataka - 560001, India |
- |
|
11 |
90193666 |
25/08/1992 |
290,000.00 |
State
Bank of India |
Peenya
Industrial Estate Branch, Bangalore, Karnataka - 560058, India |
- |
|
12 |
90190459 |
30/03/1994 * |
5,000,000.00 |
State
Bank of India |
Peenya
Industrial Estate Branch, Bangalore, Karnataka - 560058, India |
- |
|
13 |
90193467 |
11/11/1993 * |
5,000,000.00 |
State
Bank of India |
Peenya
Industrial Estate Branch, Bangalore, Karnataka - 560058, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
28 |
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.