MIRA
INFORM REPORT
|
Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCHNEIDER ELECTRIC
IT BUSINESS INDIA PRIVATE LIMITED (w.e.f. 12.09.2012) |
|
|
|
|
Formerly Known
As : |
AMERICAN POWER CONVERSION ( |
|
|
|
|
Registered
Office : |
Survey No.187/3 and
188/3, Jigani Industrial Area, Jigani, |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.03.1997 |
|
|
|
|
Com. Reg. No.: |
08-029635 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.34.702
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109KA1997PTC029635 |
|
|
|
|
TAN No.: |
29150072146 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA01711D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA6398Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacture, sale and trading of
Uninterruptible Power Supply (“UPS”) systems and accessories. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
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 65000000 |
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|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a well established and reputed company having a good track
record. There appears some dip in the turnover and profitability of the company
during the current year. However, the financial position of the company is
2013. The performance capability appears to be high. Liquidity position of
the company is good. Fundamental appears to be healthy. There seems to be no external
borrowing. 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 normal for 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 DECLINED BY
|
Name : |
Ms. Beena |
|
Designation : |
Office Executive |
|
Contact No.: |
91-80-43333333 |
|
Date : |
10.03.2014 |
LOCATIONS
|
Registered
Office/ Head Office/ Factory 1 : |
Survey No.187/3
and 188/3, Jigani Industrial Area, Jigani, Bangalore – 562 106, Karnataka,
India |
|
Tel. No.: |
91-80-27826025-32/ 27826151-58/ 27812070 |
|
Fax No.: |
91-80-27826022/ 23/ 24 |
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E-Mail : |
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|
Website : |
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Factory 2 : |
Located at: ·
Himachal Pradesh |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Nikhil Priyavadan Pathak |
|
Designation : |
Director |
|
Address : |
101/102 1st Floor, Building No.5, Garden Enclave, Near Siddhb
Chal Pldhran Road No.5, Thane (West), Thane – 400610, Maharashtra, India |
|
Date of Birth/Age : |
03.09.1965 |
|
Date of Appointment : |
06.03.2013 |
|
DIN No.: |
01668137 |
|
|
|
|
Name : |
Mr. Javed Ahmad |
|
Designation : |
Director |
|
Address : |
3B, Regency
Heights, Cleveland Road, Fraser Town, Bangalore – 560 005, Karnataka,
India |
|
Date of Birth/Age : |
29.01.1967 |
|
Qualification : |
MBA |
|
Date of Appointment : |
08.01.2007 |
|
DIN No.: |
01705373 |
|
PAN No.: |
AENPA6787M |
|
|
|
|
Name : |
Mr. Philippe Charles Andre Arsonneau |
|
Designation : |
Director |
|
Address : |
32, Gender Road, Singapore 309151 |
|
Date of Birth/Age : |
26.08.1967 |
|
Date of Appointment : |
06.03.2013 |
|
DIN No.: |
03418847 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
American Power
Conversion Corporation USA, USA |
|
3353560 |
|
American Power
Conversion Corporation (APC) BV, Netherlands |
|
2 |
|
Schneider
Electric IT France, France |
|
63125 |
|
Schneider
Electric IT Singapore Pte. Limited, |
|
1 |
|
Total
|
|
3416688 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Schneider Electric
IT France, France |
|
53546 |
|
Total
|
|
53546 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
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 : |
Subject is engaged in the manufacture, sale and trading of
Uninterruptible Power Supply (“UPS”) systems and accessories. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Available |
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|
|
|
Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
S.R. Batliboi and
Associates Chartered
Accountants |
|
Address : |
12th
and 13th Floor, “UB CITY,” Canberra Block No.24, Vittal Mallya Road,
Bangalore – 560 001, Karnataka, India |
|
Tel. No.: |
91-80-40275000 |
|
Fax No.: |
91-80-22106000 |
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PAN No.: |
AALFS0506L |
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|
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Ultimate Holding
company: |
Schneider Electric SA |
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|
|
|
Holding company: |
Schneider Electric IT Corporation |
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|
Fellow Subsidiary
company: |
· Schneider Electric IT Logistics Europe OU · American Power Conversion Brazil Limited · American Power Conversion Holding Inc · Schneider Electric IT Denmark ApS · American Power Conversion(Phils.) Inc · American Power Conversion Japan, Inc · American Power Conversion Corporation · Schneider Electric IT Logistics Asia Pacific Pte Limited · American Power Conversion (Suzhou) Uninterrupted Power Supply Co. Limited · American Power Conversion (Xiamen) Power Infrastructure Co. Limited · American Power Conversion International Trade (Shanghai) Co Limited · Gutor Electronic GmbH · Schneider Electric IT Singapore Pte Limited · Schneider Electric Hong Kong Limited · Schneider Electric IT (China) Co. Limited · MGE UPS Systems S.A. (Thailand) Co. Limited · Schneider Busway (Guangzhou) Limited · Schneider Electric France SAS · Schneider Electric IT Malaysia SDN. BHD · Schneider Electric IT Philippines Inc · Schneider Electric USA Inc · Schneider Electric DC MEA FZCO · Schneider Electric Taiwan Co. Limited · Schneider Electric Korea Limited · Schneider Electric Solar Inverters USA Inc · Hispano Mecano Electrica SAS · MGE UPS Systems Korea Co. · T-SERIC South East Asia (HQ) Pte Limited · Schneider (Suzhou) DriversCompany Limited · Schneider Electric Espana,S.A. · MGE Manufacturing (Shanghai) Co. Limited · Construction Electrique du Vivarais SAS · Schneider Electric CPCS (Thailand) Co. Limited · Schneider Electric Industries SAS · Schneider Electric South Africa (Pty) Limited · Schneider Electric Nigeria Limited · Schneider Electric IT Logistics Asia Pacific Pte Limited · Schneider Electric India Private Limited CIN No.: U74899DL1995PTC065815 · Uniflair India Private Limited · Schneider Electric President Systems Limited CIN No.:L32109MH1984PLC034340 · Schneider Electric Infrastructure Limited CIN No.:L31900GJ2011PLC064420 · Luminous Power Technologies Private Limited CIN No.:U74899DL1988PTC032019 · Schneider Electric IT · American Power Conversion B.V. · Schneider Electric IT Australia PL |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.60.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3416688 |
Equity Shares |
Rs.10/- each |
Rs.34.167
Millions |
|
53546 |
Preference Shares |
Rs.10/- each |
Rs.0.535
Million |
|
|
Total |
|
Rs.34.702 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 |
34.710 |
34.710 |
34.710 |
|
(b) Reserves & Surplus |
16238.000 |
15090.000 |
12731.000 |
|
(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) |
16272.710 |
15124.710 |
12765.710 |
|
|
|
|
|
|
(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 |
22.000 |
27.000 |
13.000 |
|
(d) long-term provisions |
166.000 |
333.000 |
358.000 |
|
Total Non-current Liabilities (3) |
188.000 |
360.000 |
371.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2453.290 |
2759.290 |
3593.290 |
|
(c) Other current
liabilities |
1066.000 |
972.000 |
911.000 |
|
(d) Short-term provisions |
961.000 |
409.000 |
426.000 |
|
Total Current Liabilities (4) |
4480.290 |
4140.290 |
4930.290 |
|
|
|
|
|
|
TOTAL |
20941.000 |
19625.000 |
18067.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2563.000 |
2634.000 |
1997.000 |
|
(ii) Intangible Assets |
12.000 |
5.000 |
12.000 |
|
(iii) Capital
work-in-progress |
8.000 |
39.000 |
313.000 |
|
(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) |
22.000 |
17.000 |
8.000 |
|
(d) Long-term Loan and Advances |
7437.000 |
5103.000 |
2217.000 |
|
(e) Other Non-current assets |
5.000 |
5.000 |
310.000 |
|
Total Non-Current Assets |
10047.000 |
7803.000 |
4857.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3221.000 |
3371.000 |
3135.000 |
|
(c) Trade receivables |
3921.000 |
4114.000 |
7842.000 |
|
(d) Cash and cash
equivalents |
2493.000 |
2475.000 |
389.000 |
|
(e) Short-term loans and
advances |
599.000 |
1454.000 |
908.000 |
|
(f) Other current assets |
660.000 |
408.000 |
936.000 |
|
Total Current Assets |
10894.000 |
11822.000 |
13210.000 |
|
|
|
|
|
|
TOTAL |
20941.000 |
19625.000 |
18067.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21525.000 |
22415.000 |
20852.000 |
|
|
|
Other Income |
350.000 |
217.000 |
189.000 |
|
|
|
TOTAL |
21875.000 |
22632.000 |
21041.000 |
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
19484.000 |
19351.000 |
19320.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2391.000 |
3281.000 |
1721.000 |
|
|
|
|
|
|
|
|
|
|
TAX |
1243.000 |
922.000 |
92.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
1148.000 |
2359.000 |
1629.000 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
14940.000 |
12581.000 |
10952.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
16088.000 |
14940.000 |
12581.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
|
17079.000 |
|
|
|
|
Software development and design services |
767.000 |
|
|
|
|
|
Sales of Fixed Assets |
11.000 |
|
|
|
|
TOTAL EARNINGS |
15442.000 |
17079.000 |
17341.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
7970.000 |
8756.000 |
9681.000 |
|
|
|
Capital Goods |
170.000 |
|
|
|
|
TOTAL IMPORTS |
8140.000 |
8756.000 |
9681.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
330.74 |
679.78 |
469.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.25
|
10.42
|
7.74
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.11
|
14.64
|
8.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.43
|
16.77 |
9.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.22 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43
|
2.86 |
2.68 |
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 |
34.710 |
34.710 |
34.710 |
|
Reserves & Surplus |
12731.000 |
15090.000 |
16238.000 |
|
Net
worth |
12765.710 |
15124.710 |
16272.710 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
20852.000 |
22415.000 |
21525.000 |
|
|
|
7.496 |
(3.971) |
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 |
20852.000 |
22415.000 |
21525.000 |
|
Profit |
1629.000 |
2359.000 |
1148.000 |
|
|
7.81% |
10.52% |
5.33% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS:
The Company was able to make satisfactory performance during the year ended on 31.03.2013. The total income for the year has been Rs. 21525.000 million which was mainly generated from sale of products of the Company. The Company was able to generate other income for an amount of Rs. 350.000 million during the year, which is included in the total income. The total expenditure for the year has been Rs. 19484.000 million. The net profit of the Company for the year ended on 31.03.2013 has been Rs. 1148.000 million. The total Profit carried to balance sheet as on 31.03. 2013 is Rs. 1148.000 million.
CORPORATE INFORMATION:
The
Company (formerly American Power Conversion (India) Private Limited) was
incorporated on 10th March, 1997 as a private limited company under
the Companies Act, 1956 (“the Act”). The Company is a wholly owned subsidiary
of American Power Conversion Corporation, USA (APCC). In February 2007,
Schneider Electric SA, France, acquired APCC and consequently, it has become
the ultimate holding company.
The
Company is engaged in the manufacture, sale and trading of Uninterruptible
Power Supply (“UPS”) systems and accessories and has its manufacturing
facilities at Bangalore and Himachal Pradesh. The company also provides
maintenance and other after sales services in respect of UPS systems through a
network of branches situated across the country.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other
Equipments
·
Leasehold
Improvements
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.60.70 |
|
|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.