MIRA INFORM REPORT
|
Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
WNS GLOBAL SERVICES PRIVATE LIMITED (w.e.f. 30.05.2008) |
|
|
|
|
Formerly Known
As : |
WORLD NETWORK SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
PL-10, Godrej and Boyce Complex, Pirojshanagar, L.B.S. Marg, Vikhroli
(West), Mumbai – 400 079, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.06.1996 |
|
|
|
|
Com. Reg. No.: |
11-100196 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.105.800
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1996PTC100196 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMW01007G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW2598L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in providing
business process outsourcing services comprising back-office administration,
data management and contact center management services. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 21301000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject is an established company having satisfactory track record. There is a dip in the profitability of the company during 2012. However,
general financial position of the company appears to be sound and healthy. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. Note: Latest financial for the year 2013 in not available with Government
Department. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries to
stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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
Management non-cooperative
(Tel. No.: 91-22-40952300)
LOCATIONS
|
Registered Office/ Corporate Office : |
PL-10, Godrej and Boyce Complex, Pirojshanagar, L.B.S. Marg, Vikhroli
(West), Mumbai – 400 079, Maharashtra, India |
|
Tel. No.: |
91-22-40952100/ 40952300 |
|
Fax No.: |
91-22-25188307/ 25188311 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
North America
Fax No.: +1 212-599-6962 United Kingdom The Fax No.: +44 208 754 8570 |
|
|
|
|
Other Offices: |
India Tel. No.: 91-80-42064600 Fax No.: 91-80-28495554 #1137, RG Towers Tel. No.: 91-80-41154361
Tel. No.: 91-44-43906000 Fax No.:91-44-43906000
Fax No.: 91-124-433 0001
Tel. No.: 91-124-420 7010 Nashik Tel. No.: 91-253-6690400
Tel. No.: 91-20-40005000 Fax No.: 91-20-41287158
Tel. No.: 91-20-41454000 Fax No.: 91-20-41454001
Tel : 91-20-41286000 |
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|
|
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Overseas Offices : |
Located at: Ø Australia Ø China Ø Costa Rica Ø UAE Ø United States Ø United Kingdom Ø Sri Lanka Ø South Africa Ø Romania Ø Poland Ø Philippines |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Sulakshana Jayant Patankar |
|
Designation : |
Director |
|
Address : |
Chintaman, Flat 13, Final Plot No.120, Dr. Kelkar Road, Opposite
Maharashtra Bank, Pune – 411 004, Maharashtra, India |
|
Date of Birth/Age : |
30.07.1971 |
|
Qualification : |
MBA, ICWA |
|
Date of Appointment : |
21.10.2003 |
|
DIN No.: |
01875918 |
|
PAN No.: |
AFEPP7471H |
|
|
|
|
Name : |
Mr. Deepak Kumar Gupta |
|
Designation : |
Director |
|
Address : |
M-2/22, DLF Phase 2, Gurgaon – 122 000, Haryana, India |
|
Date of Birth/Age : |
02.02.1967 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No.: |
02215150 |
|
|
|
|
Name : |
Mr. Gautam Bhupat Barai |
|
Designation : |
Director |
|
Address : |
1001, B Wing, Quantum Park, Union Park, Khar (West), Mumbai – 400 052,
Maharashtra, India |
|
Date of Birth/Age : |
15.05.1974 |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
03267869 |
|
PAN No.: |
AACPB1050H |
|
|
|
|
Name : |
Mr. Swaminathan Rajamani |
|
Designation : |
Director |
|
Address : |
B-901, Lake Primrose, Lake Home Complex, Adi Shankaracharya Marg,
Powai, Mumbai – 400 076, Maharashtra, India
|
|
Date of Birth/Age : |
22.04.1976 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
03432159 |
|
PAN No.: |
APWPS7475Q |
|
|
|
|
Name : |
Mr. Gopal Kumar Agrawal |
|
Designation : |
Director |
|
Address : |
A-A1, Shamail Complex, Ground Floor, Balaji Nagar, Station Road,
Bhayander (West), Thane – 401 101, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1971 |
|
Date of Appointment : |
24.10.2011 |
|
DIN No.: |
05104675 |
|
PAN No.: |
ADZPA6931A |
KEY EXECUTIVES
|
Name : |
Charudatta Avinash Kulkarni |
|
Designation : |
Secretary |
|
Address : |
5-B, Pasaydan Vishwa Vijay CHS, Near Motiram Park, B Cabin Road,
Ambernath – 421 501, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1986 |
|
Date of Appointment : |
04.09.2013 |
|
Pan No.: |
ATKPK0332N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
WNS ( |
800446 |
79.81 |
|
WNS Customer Solutions ( |
202468 |
20.19 |
|
Total
|
1002914 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in
providing business process outsourcing services comprising back-office administration,
data management and contact center management services. |
|
|
|
|
Products/ Services : |
Business Process
Outsourcing Services |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
Notes Long Term
Borrowings Loan from HDFC Bank is secured against corporate guarantee of “WNS
(Holdings) Limited”, the ultimate holding Company and first charge on pari passu
basis over immovable property situated at Magarpatta (Pune). The charge on
the immovable property was created subsequent to March 31, 2012. The loan is
repayable in two equal installments of Rs.25.5 each on January 30, 2015 and
February 27, 2015. The loan bears interest at a rate of 11.25% per annum for
the first year, which will be reset at the end of the first year. |
|
|
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|
Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Walker, Chandiok and Company Chartered Accountants |
|
Address : |
16th
Floor, Tower-II, Indiabulls Finance Centre, S B Marg, Elphinstone (West),
Mumbai – 400 013, Maharashtra, India |
|
PAN No.: |
AAAFW4298E |
|
|
|
|
Ultimate Holding Company: |
WNS (Holdings)
Limited, United States |
|
|
|
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Subsidiary Company : |
WNS
Cares Foundation, India |
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|
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|
Fellow Subsidiary Companies : |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7337000 |
Equity Shares |
Rs.100/- each |
Rs.733.700 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1002914 |
Equity Shares |
Rs.100/-
each |
Rs.100.291
millions |
|
|
|
|
|
AS ON 31.03.2012
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7337000 |
Equity Shares |
Rs.100/- each |
Rs.733.700 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1057914 |
Equity Shares |
Rs.100/-
each |
Rs.105.800
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
105.800 |
117.200 |
|
(b) Reserves & Surplus |
|
5219.400 |
6127.100 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
5325.200 |
6244.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
Long-term borrowings |
|
5463.200 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
117.800 |
123.900 |
|
(d)
Long-term provisions |
|
515.900 |
176.300 |
|
Total
Non-current Liabilities (3) |
|
6096.900 |
300.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1444.600 |
5446.200 |
|
(b)
Trade payables |
|
83.900 |
28.100 |
|
(c)
Other current liabilities |
|
3222.500 |
3884.600 |
|
(d)
Short-term provisions |
|
149.400 |
141.100 |
|
Total
Current Liabilities (4) |
|
4900.400 |
9500.000 |
|
|
|
|
|
|
TOTAL |
|
16322.500 |
16044.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1357.700 |
1284.300 |
|
(ii)
Intangible Assets |
|
4078.400 |
4925.300 |
|
(iii)
Capital work-in-progress |
|
103.200 |
94.000 |
|
(iv) Intangible assets under
development or work-in-progress |
|
0.700 |
0.000 |
|
(b)
Non-current Investments |
|
0.100 |
0.100 |
|
(c)
Deferred tax assets (net) |
|
480.000 |
581.000 |
|
(d) Long-term Loan and Advances |
|
1757.400 |
1450.700 |
|
(e)
Other Non-current assets |
|
144.200 |
91.000 |
|
Total
Non-Current Assets |
|
7921.700 |
8426.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
1342.200 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
4702.600 |
5304.500 |
|
(d)
Cash and cash equivalents |
|
627.200 |
655.400 |
|
(e)
Short-term loans and advances |
|
1439.800 |
1401.000 |
|
(f)
Other current assets |
|
289.000 |
257.200 |
|
Total
Current Assets |
|
8400.800 |
7618.100 |
|
|
|
|
|
|
TOTAL |
|
16322.500 |
16044.500 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
121.891 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
4618.559 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4740.450 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
334.222 |
|
|
TOTAL BORROWING |
|
|
334.222 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5074.672 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1691.669 |
|
|
Capital work-in-progress |
|
|
48.195 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
429.708 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
3816.917
|
|
|
Cash & Bank Balances |
|
|
515.182
|
|
|
Other Current Assets |
|
|
1150.263
|
|
|
Loans & Advances |
|
|
1359.727
|
|
Total
Current Assets |
|
|
6842.089 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
68.032
|
|
|
Other Current Liabilities |
|
|
3493.446
|
|
|
Provisions |
|
|
375.511
|
|
Total
Current Liabilities |
|
|
3936.989
|
|
|
Net Current Assets |
|
|
2905.100
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5074.672 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
12323.900 |
12195.426 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
13906.000 |
12323.900 |
12195.426 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
9949.700 |
10436.191 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
12168.800 |
9949.700 |
10436.191 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1737.200 |
2374.200 |
1759.235 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
518.300 |
(30.100) |
(72.136) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1218.900 |
2404.300 |
1831.371 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
13840.100 |
11671.071 |
12157.562 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1152.17 |
2050.75 |
1502.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.77
|
19.51 |
15.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.04
|
15.45 |
20.62
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.38 |
0.37
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.30
|
0.87 |
0.07
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71
|
0.80 |
1.74
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
117.200 |
105.800 |
|
Reserves & Surplus |
|
6127.100 |
5219.400 |
|
Net worth |
|
6244.300 |
5325.200 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
5463.200 |
|
Short term borrowings |
|
5446.200 |
1444.600 |
|
Total borrowings |
|
5446.200 |
6907.800 |
|
Debt/Equity ratio |
|
0.872 |
1.297 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
12195.426 |
12323.900 |
13906.000 |
|
|
|
1.053 |
12.838 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
12195.426 |
12323.900 |
13906.000 |
|
Profit |
1831.371 |
2404.300 |
1218.900 |
|
|
15.02% |
19.51% |
8.77% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10369187 |
19/07/2012 |
358,095,500.00 |
HSBC BANK (MAURITIUS)
LIMITED |
HSBC CENTRE, 18,
CYBERCITY, EBENE, - NA, MAURITIUS |
B45138377 |
|
2 |
10369188 |
19/07/2012 |
510,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL |
B45138435 |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
4953.200 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
1219.100 |
223.500 |
|
Loans and advances from related parties |
225.500 |
5222.700 |
|
Total |
6397.800 |
5446.200 |
Notes:
Long Term Borrowings
The Company issued
49531680 10% unsecured compulsory convertible debentures at par value of Rs.100
each aggregating to Rs.4953.200 to WNS Global Services Netherlands Cooperative
U.A, a fellow subsidiary in April 2011.
The debentures are
compulsorily convertible into 264000 equity shares of the Company with face
value of Rs.100/- each at the premium of Rs.0.019 Million per share at the end
of 9th year from the date of allotment. However the Company has an option to
exercise the conversion of the debentures at the end of 5th year
from the date of allotment.
All equity shares
issued under the conversion shall rank pari passu with then existing equity
shares of the Company.
CONTINGENT
LIABILITIES (AS ON 31.03.2012):
1.
Amounts not provided for income tax matters in
respect of earlier years for which appeals are pending before appropriate
authorities Rs.2958.600 Millions
2.
Amounts not provided for service tax matters in
respect of earlier years for which appeals are pending before appropriate
authorities Rs.348.100 Millions
3.
The Company has given guarantees to various banks
for an amount of Rs. Nil towards packing credit facility and other loan
facilities.
4.
HSBC bank has issued guarantee to customs
authorities on Company’s behalf against cash credit limit for Rs.11.500
Millions
FIXED ASSETS:
·
Leasehold Improvements
·
Buildings
·
Computers
·
Furniture and Fixtures
·
Equipments and Fittings
·
Generator
·
Vehicles
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.61.86 |
|
|
1 |
Rs.103.06 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.