MIRA INFORM REPORT
|
Report Date : |
08.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
DOOSAN POWER SYSTEMS INDIA PRIVATE LIMITED (w.e.f. 16.10.2012) [Doosan Power Systems India Private Limited (155023) Amalgamated with
Doosan Chennai Works Private Limited (and after amalgamation the name Doosan
Chennai Works Private Limited changed to Doosan Power Systems India Private
Limited (258626))] |
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|
|
|
Formerly Known
As : |
DOOSAN CHENNAI WORKS PRIVATE LIMITED
(w.e.f. 21.02.2011) AE AND E CHENNAI WORKS PRIVATE LIMITED (w.e.f. 13.09.2009) AE AND E CHENNAI WORKS LIMITED |
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Registered
Office : |
Unit No. FF-35, Vasant Square, Plot No. A, Commuinity Centre,
Pocket-V, Sector-B, Vasant Kunj, New Delhi – 110070 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.07.2000 |
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Com. Reg. No.: |
55-258626 (New) 18-045415 (Old) 55-155023 (Amalgamated) |
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Capital
Investment / Paid-up Capital : |
Rs. 2614.310 Millions |
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CIN No.: [Company Identification
No.] |
U31101DL2000PTC258626 (New) U31101TN2000PTC045415 (Old) U74210DL1996PTC155023 (Amalgamated) |
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PAN No.: [Permanent Account No.] |
AABCB5946J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company engaged in the business of manufacturing / job work of boiler pressure parts viz. panels, headers and coils and designing, building, installation and maintaining engineering plants relating to thermal and coal power plants. |
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No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 23000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Doosan Heavy Industries and Construction
Company Limited, Korea. It is an established company having satisfactory track record. Profit of the company dipped during 2013. However, general financial
position of the company is satisfactory. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. In view of strong holding the company can be considered normal for
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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : |
Mr. Anil Sinha |
|
Designation : |
Accounts Department |
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Contact No.: |
91-124-4398200 |
|
Date : |
07.03.2014 |
LOCATIONS
|
Registered Office : |
Unit No. FF-35, Vasant Square, Plot No. A, Commuinity Centre,
Pocket-V, Sector-B, Vasant Kunj, New Delhi – 110070, India |
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Tel. No.: |
91-11-40000255 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
18/2A, Sennerkuppam-By-Pass Road, Poonamallee Road, Poonammallee,
Chennai – 600056, Tamilnadu, India |
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Tel. No.: |
91-44-66455566 |
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Fax No.: |
91-44-66455501 |
DIRECTORS
As on 30.09.2013
|
Name : |
Jongki Lee |
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Designation : |
Managing Director |
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Address : |
B-01/601, 6th Floor, Block – B, Sahara Grace Apartment, M.
G. Road, Sector – 28, Chakkarpur, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
13.02.1953 |
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Date of Appointment : |
27.11.2012 |
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DIN No.: |
03298750 |
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Name : |
Mr. Hoyoung Ryu |
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Designation : |
Whole-Time Director |
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Address : |
B-1103, Palm Spring, Golf Course Road, DLF-5, Gurgaon – 122002,
Haryana, India |
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Date of Birth/Age : |
20.08.1962 |
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Date of Appointment : |
10.10.2012 |
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DIN No.: |
06419804 |
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Name : |
Mr. Sung Ho Park |
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Designation : |
Whole-Time Director |
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Address : |
Sua – 193, The Summit, DLF Phase – V, Gurgaon – 122002, Haryana,
India |
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Date of Birth/Age : |
27.10.1974 |
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Date of Appointment : |
10.10.2012 |
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DIN No.: |
06419808 |
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Name : |
Mr. Hyung Rak Chung |
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Designation : |
Nominee Director |
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Address : |
101-604, 41, Bangbae-Ro, 26, GIL, Seocho-Gu, Sepul, NA, Korea Republic
of. |
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Date of Birth/Age : |
10.08.1969 |
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Date of Appointment : |
25.01.2013 |
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DIN No.: |
06472247 |
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Name : |
Key Sun Han |
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Designation : |
Nominee Director |
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Address : |
Hyundai Memphis Apartment, 239, Bangbae-Ro-Seochi-Gu, Seoul, N.A.
Korea Republic of. |
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Date of Birth/Age : |
20.08.1951 |
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Date of Appointment : |
25.01.2013 |
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DIN No.: |
06472257 |
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Name : |
Mr. Myeongho Jang |
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Designation : |
Nominee Director |
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Address : |
Raemian Sur, 326-903, 12, Byeoryang Ro Gwacheon-Si, Gyeonggido, NA, Korea
Republic of. |
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Date of Birth/Age : |
07.02.1964 |
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Date of Appointment : |
25.01.2013 |
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DIN No.: |
06481086 |
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Name : |
Mr. Sung Won Kim |
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Designation : |
Whole-Time Director |
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Address : |
Plat No.1A, First Floor, Cambrae Hall, 72, Dr. P.V. Cherio Road,
Egmore Chennai – 600105, Tamilnadu, India |
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Date of Birth/Age : |
19.12.1956 |
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Date of Appointment : |
01.10.2009 |
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DIN No.: |
06659499 |
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KEY EXECUTIVES
|
Name : |
Mr. Anil Kumar Sinha |
|
Designation : |
Secretary |
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Address : |
B-75A, Shiv Park, Khanpur, New Delhi – 110074, India |
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Date of Birth/Age : |
28.11.1974 |
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Date of Appointment : |
10.10.2012 |
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PAN No.: |
AOHPS6406B |
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|
Name : |
Mr. Anil Sinha |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Doosan Heavy Industries and Construction Company Limited, Korea |
|
33908401 |
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Doosan Power System Overseas Investments Limited, U.K. |
|
187922 |
|
Total |
|
34096323 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged in the business of manufacturing / job
work of boiler pressure parts viz. panels, headers and coils and designing,
building, installation and maintaining engineering plants relating to thermal
and coal power plants. |
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Products / Services : |
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GENERAL INFORMATION
|
No. of Employees : |
800 (Approximately) |
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Bankers : |
Axis Bank Limited, Corporate Banking Branch, Ground Floor, Karumithu
Nilayam, 192, Anna Salai, Chennai – 600002, Tamilnadu, India |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower- B, DLF Cyber City Complex.
DLF City Phase- II, Gurgaon- 122 002, Haryana, India |
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PAN No.: |
AABFD2095B |
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Ultimate Holding
Company : |
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Holding Company : |
Doosan Heavy Industries and Construction Company Limited, South Korea |
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Fellow subsidiaries
and other companies which does not exercise control or significant influence
over the Company (having transaction during the year) |
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36551500 |
Equity Shares |
Rs.100/- each |
Rs.3655.150 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34096323 |
Equity Shares |
Rs.100/- each |
Rs.3409.632 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36551500 |
Equity Shares |
Rs.100/- each |
Rs.3655.150 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26143100 |
Equity Shares |
Rs.100/- each |
Rs.2614.310 Millions |
|
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|
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2614.310 |
2451.818 |
500.000 |
|
(b) Reserves & Surplus |
2285.190 |
1979.738 |
1248.861 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
1033.919 |
162.492 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5933.419 |
4594.048 |
1748.861 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
11283.358 |
3321.622 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
163.623 |
13.311 |
3.158 |
|
Total Non-current
Liabilities (3) |
11446.981 |
3334.933 |
3.158 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1015.819 |
0.000 |
95.748 |
|
(b) Trade
payables |
1140.705 |
983.781 |
38.403 |
|
(c) Other
current liabilities |
3547.669 |
4280.292 |
21.451 |
|
(d) Short-term
provisions |
294.516 |
10.767 |
1.027 |
|
Total Current
Liabilities (4) |
5998.709 |
5274.840 |
156.629 |
|
|
|
|
|
|
TOTAL |
23379.109 |
13203.821 |
1908.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4627.247 |
2168.174 |
1621.762 |
|
(ii)
Intangible Assets |
186.723 |
3.660 |
0.373 |
|
(iii) Capital
work-in-progress |
124.367 |
1151.581 |
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) |
123.131 |
23.150 |
0.000 |
|
(d) Long-term Loan and Advances |
655.616 |
500.997 |
8.215 |
|
(e) Other
Non-current assets |
4457.704 |
1720.214 |
0.000 |
|
Total Non-Current
Assets |
10174.788 |
5567.776 |
1630.350 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
110.401 |
303.564 |
40.678 |
|
(c) Trade
receivables |
4110.545 |
2011.078 |
39.459 |
|
(d) Cash
and cash equivalents |
2492.535 |
1005.290 |
194.634 |
|
(e)
Short-term loans and advances |
4331.830 |
4193.606 |
3.324 |
|
(f) Other
current assets |
2159.010 |
122.507 |
0.203 |
|
Total
Current Assets |
13204.321 |
7636.045 |
278.298 |
|
|
|
|
|
|
TOTAL |
23379.109 |
13203.821 |
1908.648 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
30430.830 |
20232.760 |
163.910 |
|
|
|
Other Income |
275.240 |
134.780 |
3.730 |
|
|
|
TOTAL |
30706.070 |
20367.540 |
167.640 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
30263.200 |
19828.450 |
208.430 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
30263.200 |
19828.450 |
208.430 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
442.870 |
539.090 |
(40.790) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
137.420 |
188.280 |
2.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
305.450 |
350.810 |
(42.810) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.68 |
25.70 |
(13.71) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.99 |
1.72 |
(25.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.46 |
2.66 |
(24.89) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91 |
4.48 |
(2.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.12 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17 |
0.00 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20 |
1.45 |
1.78 |
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 |
500.000 |
2451.818 |
2614.310 |
|
Reserves & Surplus |
1248.861 |
1979.738 |
2285.190 |
|
Share Application money
pending allotment |
0.000 |
162.492 |
1033.919 |
|
Net
worth |
1748.861 |
4594.048 |
5933.419 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
95.748 |
0.000 |
1015.819 |
|
Total
borrowings |
95.748 |
0.000 |
1015.819 |
|
Debt/Equity
ratio |
0.055 |
0.000 |
0.171 |
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 |
163.910 |
20232.760 |
30430.830 |
|
|
|
12243.823 |
50.404 |
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 |
163.910 |
20232.760 |
30430.830 |
|
Profit |
(42.810) |
350.810 |
305.450 |
|
|
(26.12%) |
1.73% |
1.00% |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from 18/2A,
Sennerkuppam-By-Pass Road, Poonamallee Road, Poonammallee, Chennai – 600056,
Tamilnadu, India to present address w.e.f. 16.09.2013
CORPORATE INFORMATION
Subject was incorporated on 20th July, 2000 to carry on the business of manufacturing/ job work of boiler pressure parts viz. panels, headers and coils and designing, building, installation and maintaining engineering plants relating to thermal and coal power plants. The Company is also carrying out business of execution of turnkey projects of steam generating equipment, supply of spares and providing related services.
REVIEW OF OPERATIONS
The Company has completed another innovative year of its operations. During the year the total revenue of the Company was higher by 50.40 % this year at Rs.30706.070 millions as against Rs. 20367.540 millions during the previous year. The Expenses has increased by 52.63 % from Rs. 19828.440 millions to Rs. 30263.200 millions. The Company has earned a Profit after Tax of Rs.305.450 millions as against Rs.350.810 millions in the previous year. Figures of previous year have been re-grouped, wherever necessary to conform to the Current Years classification. The Directors are continuously looking for avenues for future growth of the Company.
FUTURE OUTLOOK
DPSI has consolidated its capabilities across the power value chain for New as well as Renovation and Modernization (R&M) projects in the capacity of EPC Contractor. The Company won another Boiler project from NTPC, Lara (2x800 MW) in Chhattisgarh. The Company is well poised for growth in turnover and some improvement in margins in the next year. The Company is taking all necessary steps for getting the new projects and reduction in cost wherever required. The prevailing challenging Global and Indian macroeconomic conditions make it imperative for DPSI to specifically focus on operational excellence to ensure Quality Cost Delivery (QCD) competitiveness. In view of the various initiatives and policy measures being taken by the Govt., the outlook for overall growth of Indian economy, construction and infrastructure in particular seems to be healthy and promising.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand From banks |
|
|
|
Buyers credit-unsecured* |
1015.819 |
0.000 |
|
Total |
1015.819 |
0.000 |
|
(*Guaranteed by corporate guarantee issued by Doosan Heavy Industries and Company Limited, the holding company) |
||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10244509 |
09/08/2011 * |
250,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, GROUND FLOOR, KARUMUTHU |
B19624931 |
* Date of charge modification
FIXED ASSETS
- Freehold Land
- Buildings
- Plant and Machinery
- Office Equipments
- Computers
- Furniture and Fixtures
- 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.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.