MIRA INFORM REPORT
|
Report Date : |
22.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ATC TIRES PRIVATE LIMITED [w.e.f. 26.03.2008] |
|
|
|
|
Formerly Known As : |
NM TYRES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Unit No. T-6 and 7, 5th Floor, |
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|
Country : |
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|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
18.07.2007 |
|
|
|
|
Com. Reg. No.: |
11-172456 |
|
|
|
|
Paid up Capital : |
Rs.149.434 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25111MH2007PTC172456 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN15214D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engages in the development, manufacture, and sale of
agricultural, forestry, construction, industrial, and off-the-road tires and also engaged
in providing management, marketing consultancy and business support
services. |
|
|
|
|
No. of Employees : |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of “Alliance Tire Group”, an entity in the global
OTR tires business. It is a well-established company having a good track record. Financial position of the company seems to be good during 2013. The rating also takes into consideration the companies experienced
promoters and its group companies. Trade relations are reported to be fair. Business is active. Payment
are reported to be regular and as per commitments. 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi slipped
four notches to become the world’s eighth most expensive office locations.
London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long terms bank facilities: A+ |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk. |
|
Date |
12.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short terms bank facilities: A1 |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
12.03.2014 |
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 : |
Mr. Pankaj Maharaj |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-39579600 |
LOCATIONS
|
Registered / Corporate Office : |
Unit No. T-6 and 7, 5th Floor, High Street, Phoenix A Wing,
462, Senapati Bapat Marg, Lower Parel, Mumbai-400013, Maharashtra, India |
|
Tel No.: |
91-22-39579600 |
|
Fax No.: |
91-22-39579699 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. A-2, SIPCOT Industrial Growth Centre, Gangaikondan,
Tirunelveli-627352, Tamilnadu, India |
|
|
|
|
Greenfield tire plant: |
Located at Gujarat, India |
DIRECTORS
As on 08.08.2013
|
Name : |
Mr. Ashokkumar Purushottamdas Mahansaria |
|
Designation : |
Managing Director |
|
Address : |
B-202, Anand, Tirupati Apartment, |
|
Date of Birth/Age : |
12.12.1951 |
|
Qualification: |
Inter Science |
|
Experience: |
42 Years |
|
Date of Appointment : |
29.08.2007 |
|
00090785 |
|
|
|
|
|
Name : |
Mr. Yogesh Ashokkumar Mahansaria |
|
Designation : |
Director |
|
Address : |
B-202, Anand, Tirupati Apartment, |
|
Date of Birth/Age : |
13.09.1975 |
|
Qualification: |
B.Com |
|
Experience: |
18 Years |
|
Date of Appointment : |
29.08.2007 |
|
DIN No.: |
00090323 |
|
|
|
|
Name : |
Mr. Joseph Yong Bum Bae |
|
Designation : |
Director |
|
Address : |
House1,33 Island Road, Deep Water Way, Hongkong |
|
Date of Birth/Age : |
12.01.1972 |
|
Date of Appointment : |
26.06.2013 |
|
DIN No.: |
03343193 |
|
|
|
|
Name : |
Mr. Sanjay Omprakash Nayar |
|
Designation : |
Director |
|
Address : |
Flat No. 9 The Rushilla Co-Operative Housing Society Limited, 17/C Carmichael Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1960 |
|
Date of Appointment : |
26.06.2013 |
|
DIN No.: |
00002615 |
|
|
|
|
Name : |
Mr. Gajendra Singh Kushwaha |
|
Designation : |
Whole-time director |
|
Address : |
19, Shree Rag Township, Near Narmda College, Zadeshwar Tavra Road, Zadeshwar, Bharuch – 392011, Gujarat, India |
|
Date of Birth/Age : |
05.07.1953 |
|
Qualification: |
B.Sc, B.E. (Mechanical) |
|
Experience: |
34 Years |
|
Date of Appointment : |
02.09.2009 |
|
DIN No.: |
02772542 |
|
|
|
|
Name : |
Mr. Heramb Ravindra Hajarnavis |
|
Designation : |
Director |
|
Address : |
61 Apsara Bhojwani Nargis Dutt Road Pali Hill, Near Dilip Kumar Bunglows Bandra West, Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1974 |
|
Date of Appointment : |
26.06.2013 |
|
DIN No.: |
01680435 |
|
|
|
|
Name : |
Mr. Akhil Puri |
|
Designation : |
Director |
|
Address : |
Unit 32, Apsara, Bhojwani Enclave, Nargis Dutt Road, Pali Hill, Bandra (East), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1975 |
|
Date of Appointment : |
26.06.2013 |
|
DIN No.: |
06612755 |
|
|
|
|
Name : |
Scott David Bookmyer |
|
Designation : |
Director |
|
Address : |
#26a, Hartson, The Republic Bay, 109, Repulse Bay Road, Hongkong |
|
Date of Birth/Age : |
28.06.1970 |
|
Date of Appointment : |
28.06.2013 |
|
DIN No.: |
06618432 |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj Maharaj |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Mr. Damodar Rathi |
|
Designation : |
Company Secretary |
|
Address : |
C-210, Axita Co-operative Housing Society Limited, RNP Park, Jessal
Park Road, Bhayender, Thane - 401105, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1989 |
|
Date of Appointment : |
11.12.2007 |
|
PAN No.: |
ACGPR7336G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Turgco Limited, Cyprus |
|
14943357 |
|
Atc Secretaries Limited, Cyprus |
|
1 |
|
|
|
|
|
Total |
|
14943358 |
Equity Share Break up (Percentage of Total Equity)
As on 08.08.2013
|
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 engages in the development, manufacture, and sale of
agricultural, forestry, construction, industrial, and off-the-road tires and also engaged
in providing management, marketing consultancy and business support
services. |
||||
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||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tyres |
Nos. |
566500 |
225827 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Axis Bank Limited, 2nd Floor, Axis House, Bombay Dying Mills Compound, P.B. Marg, Worli, Mumbai – 400025, Maharashtra, India
|
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Lovelock and Lewes , 252 Veer Savarkar Marg, Shivaji
Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP5579P |
|
|
|
|
Holding company: |
Turgco Limited |
|
|
|
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Subsidiary: |
Qingdao Alliance Tire Company Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14943358 |
Equity Shares |
Rs.10/- each |
Rs.149.434
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 |
149.434 |
132.876 |
132.876 |
|
(b) Reserves & Surplus |
4878.702 |
1897.118 |
1450.388 |
|
(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) |
5028.136 |
2029.994 |
1583.264 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
933.429 |
1382.486 |
1559.785 |
|
(b) Deferred tax liabilities (Net) |
88.602 |
75.869 |
56.196 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
158.237 |
212.167 |
27.320 |
|
Total Non-current
Liabilities (3) |
1180.268 |
1670.522 |
1643.301 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1049.610 |
1347.190 |
869.937 |
|
(b) Trade
payables |
610.970 |
567.975 |
386.232 |
|
(c) Other
current liabilities |
555.610 |
614.149 |
456.949 |
|
(d) Short-term
provisions |
222.011 |
91.991 |
63.745 |
|
Total Current
Liabilities (4) |
2438.201 |
2621.305 |
1776.863 |
|
|
|
|
|
|
TOTAL |
8646.605 |
6321.821 |
5003.428 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3098.225 |
2450.390 |
2320.864 |
|
(ii)
Intangible Assets |
7.001 |
6.999 |
8.760 |
|
(iii)
Capital work-in-progress |
554.352 |
256.551 |
252.209 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.301 |
3.301 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
538.800 |
647.412 |
84.457 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4201.679 |
3364.653 |
2666.290 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
283.277 |
0.000 |
228.467 |
|
(b)
Inventories |
1741.841 |
1527.464 |
1187.486 |
|
(c) Trade
receivables |
1521.867 |
1371.935 |
756.940 |
|
(d) Cash
and cash equivalents |
806.933 |
20.583 |
44.288 |
|
(e)
Short-term loans and advances |
58.883 |
35.681 |
119.957 |
|
(f) Other
current assets |
32.125 |
1.505 |
0.000 |
|
Total
Current Assets |
4444.926 |
2957.168 |
2337.138 |
|
|
|
|
|
|
TOTAL |
8646.605 |
6321.821 |
5003.428 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sale of Products |
8861.700 |
6509.600 |
2631.800 |
|
|
|
Business Support Services Income |
157.100 |
130.100 |
NA |
|
|
|
Consultancy Income |
NA |
NA |
92.600 |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
|
|
|
|
Employee Costs |
|
|
|
|
|
|
Operating and other expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2295.100 |
740.700 |
264.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
299.000 |
252.900 |
202.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1996.100 |
487.800 |
62.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
74.200 |
41.100 |
28.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1921.900 |
446.700 |
33.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
NA |
2695.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
128.61 |
NA |
2.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
22.53
|
7.49 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.68
|
8.05 |
1.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.24 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.34
|
1.34 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82
|
1.13 |
1.32 |
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 |
132.876 |
132.876 |
149.434 |
|
Reserves & Surplus |
1450.388 |
1897.118 |
4878.702 |
|
Net
worth |
1,583.264 |
2,029.994 |
5,028.136 |
|
|
|
|
|
|
long-term borrowings |
1559.785 |
1382.486 |
933.429 |
|
Short term borrowings |
869.937 |
1347.190 |
1049.610 |
|
Total
borrowings |
2,429.722 |
2,729.676 |
1,983.039 |
|
Debt/Equity
ratio |
1.535 |
1.345 |
0.394 |
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) |
|
Sale of Products |
2631.800 |
6509.600 |
8861.700 |
|
|
|
147.344 |
36.133 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sale of Products |
2631.800 |
6509.600 |
8861.700 |
|
Profit |
33.900 |
446.700 |
1921.900 |
|
|
1.29% |
6.86% |
21.69% |
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 |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: The registered office of the company has been shifted from 105, Creative Industrial Estate, 72, N. M. Joshi Marg, Mumbai-400092, Maharashtra, India to the present address w.e.f.15.03.2012.
PROJECT:
During the year, the Company has taken in hand following Projects:
i) Enhancing the production capacity at its Tamilnadu Plant from 61,000 Tons per annum to 90,000 Tons per annum to be completed by mid 2014.
ii) Setting of its Second Green-Field Tyre Manufacturing Plant in the State of Gujarat with a total production capacity of 50,000 Tons per annum, whose 1st phase is scheduled to be commissioned in the 3rd quarter of the calendar year 2014.
In view of the Tie-ups with Private Power Producers on a month to month basis resulting into easier availability of Power at an affordable cost as well as stoppage of its DG Operations, the Company is reviewing the advisability of setting up its Co-Generation Plant, which was earlier envisaged.
OPERATIONS:
The Company mainly operates in the Off-Highway Tyres segment.
During the year, the Sales Revenue was Rs 8861.700 Millions and the Business Support Services Income was placed at Rs 157.100 Millions as compared to Rs 6509.600 Millions and Rs. 130.100 Millions respectively in the previous year.
During the year, the Profit before Depreciation and Tax was Rs. 2295.100 Millions Crores and the Profit after tax was Rs 1921.900 Millions compared to Rs 740.700 Millions and Rs 446.700 Millions respectively during the previous year.
OUTLOOK FOR THE
CURRENT YEAR 2013-14
The demand for OHT tyres in the Company’s key markets of Europe and North America has been affected by adverse weather conditions as well as global economic crisis. Despite these external challenges, the Company maintains a positive outlook on its growth targets due to high quality of its products combined with competitive pricing. The Company currently has an order backlog of 2 months of production.
The Company is presently operating at capacity utilization in excess of 70% of the Current Installed Capacity, and expects to improve the capacity utilization in the coming times.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10422656 |
29/04/2013 * |
5,789,727,590.00 |
AXIS BANK LIMITED |
2ND FLOOR, AXIS
HOUSE, BOMBAY DYEING MILLS COMPO UND, P.B. MARG, WORLI, MUMBAI, MAHARASHTRA -
400025, INDIA |
B74220252 |
|
2 |
10136380 |
23/01/2014 * |
3,554,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, AXIS
HOUSE, BOMBAY DYEING MILLS COMPOUND, P.B. MARG, WORLI, MUMBAI, MAHARASHTRA -
400025, INDIA |
B95303327 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
Intangible assets
- Computer 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 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 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.61.05 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
52 |
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.