MIRA
INFORM REPORT
|
Report Date : |
07.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-402, Somdutt Chambers-I, 5, |
|
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
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|
Date of
Incorporation : |
17.03.1994 |
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|
Com. Reg. No.: |
55-117043 |
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|
Capital
Investment / Paid-up Capital : |
Rs.10.015 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140DL1994PTC117043 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS19960D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS8348B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in
design, engineering and supply of equipment for steel plants. |
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|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 14771000 |
|
|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a good track record. The
financial position of the company appears to be strong. Performance capability
seems to be high. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 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 PARTED BY
|
Name : |
Ms. Kanika Mahajan |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-124-4351500 |
|
Date : |
04.03.2014 |
LOCATIONS
|
Registered Office : |
B-402, Somdutt Chambers-I, 5, Bhikaji Cama Place, New Delhi – 110 066,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
286, Udyog Vihar, Phase II, Gurgaon – 122 016, Haryana, India |
|
Tel. No.: |
91-124-4351500 |
|
Fax No.: |
91-124-4351605 |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Marcel Fasswald |
|
Designation : |
Managing Director and Chief Executive Officer |
|
Address : |
KH. No.2041-42-43-44, Min Village-Rajokri, New Delhi – 110 038, India |
|
Date of Birth/Age : |
15.11.1969 |
|
Qualification : |
Diploma Engineer (equivalent to M. Tech) |
|
Experience : |
17 Years |
|
Date of Appointment : |
29.05.2007 |
|
DIN No.: |
00140134 |
|
PAN No.: |
AAKPF5089Q |
|
|
|
|
Name : |
Mr. Sankaran Ravi Shankar |
|
Designation : |
Director and Chief Financial Officer |
|
Address : |
5/504, East End Apartments, Mayur Vihar, Phase-1 Extension, Delhi,
India |
|
Date of Birth/Age : |
10.07.1961 |
|
Qualification : |
Chartered Accountant |
|
Experience : |
30 Years |
|
Date of Appointment : |
23.01.2007 |
|
DIN No.: |
01278720 |
|
PAN No.: |
AAOPS3396R |
|
|
|
|
Name : |
Mr. Reiner Kulchen |
|
Designation : |
Director |
|
Address : |
Flunnertzdyk 360D, Krefeld, Germany |
|
Date of Birth/Age : |
31.07.1963 |
|
Date of Appointment : |
20.10.2008 |
|
DIN No.: |
02328250 |
|
|
|
|
Name : |
Mr. Peter Joachim Piepers |
|
Designation : |
Director |
|
Address : |
10, Feldstrasse, Scheuerfeld 57584, Germany |
|
Date of Birth/Age : |
12.07.1953 |
|
Date of Appointment : |
29.06.2012 |
|
DIN No.: |
03025580 |
|
|
|
|
Name : |
Dr. Guido Kleinschmidt |
|
Designation : |
Director |
|
Address : |
Am Domacker 25 47447, Moers
Germany |
|
Date of Birth/Age : |
28.10.1968 |
|
Date of Appointment : |
04.06.2012 |
|
DIN No.: |
05283021 |
|
|
|
|
Name : |
Mr. Michael Rzepczyk |
|
Designation : |
Director |
|
Address : |
Corinnastrabe 44 46537 Dinslaken Germany |
|
Date of Birth/Age : |
11.06.1966 |
|
Date of Appointment : |
29.06.2012 |
|
DIN No.: |
05283033 |
KEY EXECUTIVES
|
Name : |
Mr. Manish Sinha |
|
Designation : |
Secretary |
|
Address : |
57G, Annukampa Apartment, Abhay Khand-IV, Indirapuram, Ghaziabad – 201
010, Uttar Pradesh, India |
|
Date of Birth/Age : |
10.03.1975 |
|
Date of Appointment : |
09.03.2007 |
|
PAN No.: |
ASPPS8157F |
|
|
|
|
Name : |
Reinhold
Hilfert |
|
Designation : |
Vice
President |
|
|
|
|
Name : |
Boris
Hagen |
|
Designation : |
Specialist-Engineering
and Dedusting |
|
|
|
|
Name : |
Ester
Helmuth |
|
Designation : |
Senior
Advisor |
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|
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|
Name : |
Jens
Wotta |
|
Designation : |
Manager-Quality
Assurance |
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|
|
|
Name : |
Andre
Pohlen |
|
Designation : |
Quality
Manager |
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|
|
|
Name : |
Ms. Kanika Mahajan |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dodsal Enterprises Private Limited, India |
|
5350 |
|
SMS Siemag AG, Germany |
|
94666 |
|
Rajen A. Kilachand |
|
130 |
|
SMS Sack Verwaltun GS GmbH, Germany |
|
1 |
|
SMS Meer GmbH, Germany |
|
1 |
|
SMS Mevac GmbH, Germany |
|
1 |
|
Burkhard Dahmen with SMS Siemag
AG, Germany |
|
1 |
|
Total |
|
100150 |
AS ON 27.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.87 |
|
Other
top fifty shareholders |
|
0.13 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in
design, engineering and supply of equipment for steel plants. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Russia |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
Europe |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
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|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
Deutsche Bank, Kasturba Gandhi Marg, New Delhi, India (Contact
No.: 91-11-66009400) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
42, Free Press House, 215, Nariman Point, Mumbai – 400 021, Maharashtra, India |
|
PAN No.: |
AAAFH2010F |
|
|
|
|
Holding Company: |
SMS Siemag AG, Germany |
|
|
|
|
Ultimate holding
Company: |
· SMS GmbH (Holding Company of SMS Siemag AG) |
|
|
|
|
Fellow
Subsidiaries: |
·
SMS Iron Technology Private Limited (formerly SMS Demag Private
Limited) ·
SMS Mevac GmbH ·
SMS Meer India Private Limited ·
SMS Mevac UK Limited (formerly Vacmetal UK Limited) ·
S.I.M.A.C S.p.A ·
SMS Concast AG ·
SMS Concast Engineering (I) Private Limited ·
SMS Siemag Technology Co. Limited, China ·
Drever International S.A. ·
Lux Automation, GmbH ·
Sidernaval Equipos Siderurgicos ·
SMS Siemag Technology (Beijing) Co., Limited ·
SMS Innse SpA ·
Paul Wurth India Private Limited ·
SMS Millcraft LLC |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100150 |
Equity Shares |
Rs.100/- each |
Rs.10.015 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 |
10.015 |
10.015 |
10.015 |
|
(b) Reserves & Surplus |
3682.819 |
2932.653 |
2177.295 |
|
(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) |
3692.834 |
2942.668 |
2187.310 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
2078.665 |
4069.910 |
2064.223 |
|
(d) Long-term
provisions |
850.145 |
869.953 |
744.762 |
|
Total Non-current
Liabilities (3) |
2928.810 |
4939.863 |
2808.985 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
874.671 |
1114.710
|
1130.249 |
|
(c)
Other current liabilities |
6315.933 |
4075.012
|
4796.895 |
|
(d) Short-term
provisions |
720.279 |
477.411
|
269.270 |
|
Total Current
Liabilities (4) |
7910.883 |
5667.133 |
6196.414 |
|
|
|
|
|
|
TOTAL |
14532.527 |
13549.664 |
11192.709 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1919.602 |
1756.127 |
209.690 |
|
(ii)
Intangible Assets |
79.246 |
77.097 |
33.001 |
|
(iii)
Capital work-in-progress |
22.655 |
0.000 |
742.194 |
|
(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) |
463.186 |
426.630 |
315.698 |
|
(d) Long-term Loan and Advances |
119.357 |
48.954 |
70.174 |
|
(e) Other
Non-current assets |
2224.071 |
2684.778 |
2143.330 |
|
Total Non-Current
Assets |
4828.117 |
4993.586 |
3514.087 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
31.542 |
38.803
|
7.541 |
|
(c)
Trade receivables |
3975.303 |
3771.322
|
3766.146 |
|
(d) Cash
and cash equivalents |
4593.406 |
3425.220
|
2551.389 |
|
(e) Short-term
loans and advances |
513.449 |
555.367 |
1327.612 |
|
(f)
Other current assets |
590.710 |
765.366 |
25.934 |
|
Total
Current Assets |
9704.410 |
8556.078 |
7678.622 |
|
|
|
|
|
|
TOTAL |
14532.527 |
13549.664 |
11192.709 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
6092.762 |
6192.238 |
5705.192 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
820.376 |
959.342 |
974.997 |
|
|
|
|
|
|
|
|
|
Less/ Add |
INTEREST (NET) (D) |
(392.193) |
(262.864) |
(125.167) |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1212.569 |
1222.206 |
1100.164 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
107.424 |
75.124 |
43.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1105.145 |
1147.082 |
1056.601 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
354.980 |
391.724 |
366.288 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
750.165 |
755.358 |
690.313 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2181.740 |
1426.382 |
736.069 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2931.905 |
2181.740 |
1426.382 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Charges and
Engineering Fees |
415.735 |
545.685 |
246.148 |
|
|
|
Others |
0.000 |
16.351 |
18.535 |
|
|
|
Sale of fixed assets |
2.096 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
417.831 |
562.036 |
264.683 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7490.41 |
7542.27 |
6892.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
18.14 |
18.52
|
18.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.87 |
8.74
|
10.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.39
|
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.51
|
1.24 |
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 |
10.015 |
10.015 |
10.015 |
|
Reserves & Surplus |
2177.295 |
2932.653 |
3682.819 |
|
Net worth |
2187.310 |
2942.668 |
3692.834 |
|
|
|
|
|
|
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 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales and Services |
5705.192 |
6192.238 |
6092.762 |
|
|
|
8.537 |
(1.606) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales and Services |
5705.192 |
6192.238 |
6092.762 |
|
Profit |
690.313 |
755.358 |
750.165 |
|
|
12.10% |
12.20% |
12.31% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
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 |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Notes:
·
The Registered office address of the company has
been changed New Delhi – 110 019 to present w.e.f. 16.07.2007.
·
No Charges Exist for Company.
YEAR IN RETROSPECT AND NEW PROJECTS AND EXPANSION:
During the year, Orders
worth INR 5693.996 Millions (Euro 80.26 Million) were booked by the Company
including orders received for Engineering from ALK,ASA and AAM division of the
parent company. Notable among these were orders of VSP for BOF, Converter, Bokaro
Steel for ID Fan and JSW for EAF.
Order worth INR 2841
Millions (Euro 40.05 Million) were satisfactorily completed and the facilities
commissioned to the satisfaction of the customer.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Uncalled
liability in respect of partly paid up shares |
64.260 |
64.260 |
|
Escalation
claims not acknowledged as debts |
39.425 |
39.425 |
|
Letter
of credit |
0.000 |
1.220 |
|
Income tax demand for non-deductible
of tax at source. [Amounts paid under protest Rs.8.775 millions (Previous
year - Rs.8.775 millions)] |
9.537 |
8.775 |
|
Total
|
113.222 |
113.680 |
Considering the past experience,
management is of the view that there will not be any material impact on
accounts on settlement/ finalization of above.
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Computer
Intangible Assets
· Software
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] 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.61.32 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.84.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.