MIRA INFORM REPORT
|
Report Date : |
24.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
E-INFOCHIPS LIMITED |
|
|
|
|
Registered
Office : |
E-Infochips House, 11/A-B Chandra Colony, Behind Cargo Motors Office,
C G Road, Ahmedabad-380006, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
10.06.1988 |
|
|
|
|
Com. Reg. No.: |
04-010830 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.242.475
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ1988PLC010830 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The
company is primarily engaged in Software Development and IT Enable Services
and Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 4730800 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects strong financial risk profile supported by strong
liquidity position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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. Manan Pathak |
|
Designation : |
Accounts Assistant Manager |
|
Contact No.: |
91-9879243390 |
|
Date : |
21.03.2014 |
LOCATIONS
|
Registered Office : |
E-Infochips House, 11/A-B Chandra Colony, Behind Cargo Motors Office,
C G Road, Ahmedabad-380006, Gujarat |
|
Tel. No.: |
91-79-26563705 |
|
Mobile No.: |
91-9879243390 [Mr. Manan Pathak] |
|
Fax No.: |
91-79-26560722 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
US Headquarters |
California 1230 Midas Way, Suite # 200, Sunnywale, CA 94085 |
|
Tel. No.: |
+1-408-496-1882 |
|
Fax No.: |
+1-801-650-1480 |
|
|
|
|
|
|
|
Branch Office : |
303, Parishram Building, 5/B Rashmi Society, Near Mithakhadi Six
Roads, Navrangpura, Ahmedabad-380009, Gujarat, India |
|
Tel No.: |
91-79-26441497 |
|
|
|
|
Branch Office : |
Also Located At:
|
DIRECTORS
AS ON 16.08.2013
|
Name : |
Mr. Pratul Krishnakant Shroff |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
10, Rushil Bunglows, New Jaiambe Park Society, Near Judges Bunglows,
Bodakdev, Thaltej, Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age : |
04.11.1953 |
|
Date of Appointment : |
10.06.1988 |
|
Din No.: |
00162576 |
|
|
|
|
Name : |
Mrs. Majula Pratul Shroff |
|
Designation : |
Director |
|
Address : |
Y-89, Hauz-Khus, New Delhi-110016, India |
|
Date of Birth/Age : |
27.02.1964 |
|
Date of Appointment : |
10.10.2000 |
|
Din No.: |
00297159 |
|
|
|
|
Name : |
Mr. Jayesh Kantilal Shah |
|
Designation : |
Director |
|
Address : |
26, Amaltas Bunglows, Vastrapur Road, Ahmedabad-380015, Gujarat, India
|
|
Date of Birth/Age : |
25.05.1960 |
|
Date of Appointment : |
03.12.2004 |
|
Din No.: |
00008349 |
|
|
|
|
Name : |
Mr. Mihirkumar Arvindbhai Joshi |
|
Designation : |
Director |
|
Address : |
37/A, Vrajraj Co-operative Housing Society, Gala Gymkhana, Bopal,
Ahmedabad-380058, Gujarat, India |
|
Date of Birth/Age : |
12.06.1977 |
|
Date of Appointment : |
03.11.2009 |
|
Din No.: |
00823615 |
|
|
|
|
Name : |
Mr. Shardul Prabhakar Kazi |
|
Designation : |
Director |
|
Address : |
1077, Cross Spring CT, San Jose CA, 95120 |
|
Date of Birth/Age : |
10.02.1959 |
|
Date of Appointment : |
25.06.2012 |
|
Din No.: |
05321924 |
KEY EXECUTIVES
|
Name : |
Mr. Sumit Indramohan Sethi |
|
Designation : |
Secretary |
|
Address : |
A-301, Spectrum Towers, Opposite Police Stadium Shahibaug,
Ahmedabad-380004, Gujarat, India |
|
Date of Birth/Age : |
23.11.1978 |
|
Date of Appointment : |
01.03.2008 |
|
Pan No.: |
ATDPS0110P |
|
|
|
|
Name : |
Mr. Manan Pathak |
|
Designation : |
Accounts Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.08.2013
NOTE: DETAILS OF SHAREHOLDING FILE ATTACHED.
AS ON 16.08.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
77.66 |
|
Other
top fifty shareholders |
|
7.84 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
5.21 |
|
Venture capital |
|
4.97 |
|
Others
|
|
4.32 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
company is primarily engaged in Software Development and IT Enable Services
and Products. |
|
|
|
|
Exports : |
|
|
Products : |
Electronics Goods |
|
Countries : |
USA |
|
|
|
|
Terms : |
|
|
Selling : |
LC/ Cash and Credit [Advance Payment] |
|
|
|
|
Purchasing : |
LC/ Cash and Credit [Advance Payment] |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C.R. Sharedalal and Company Chartered Accountants |
|
Address : |
101-102, Parishram, 5-B, Rashmi Society, Mithakhali Six Road,
Navrangpura, Ahmedabad-380009, Gujarat, India |
|
Tel. No.: |
91-79-26446560 |
|
Fax No.: |
91-79-26449570 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No: |
AAAFC6902F |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 16.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30050000 |
Equity Shares |
Rs.10/- each |
Rs.300.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24997977 |
Equity Shares |
Rs.10/- each
|
Rs.249.980
Millions |
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30050000 |
Equity Shares |
Rs.10/- each |
Rs.300.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24247541 |
Equity Shares |
Rs.10/- each
|
Rs.242.475
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 |
242.475 |
239.760 |
239.417 |
|
(b) Reserves & Surplus |
940.245 |
1082.721 |
213.604 |
|
(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) |
1182.720 |
1322.481 |
453.021 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.826 |
2.373 |
1.675 |
|
(c)
Other long term liabilities |
11.039 |
13.652 |
11.760 |
|
(d)
Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
13.865 |
16.025 |
13.435 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
14.515 |
8.333 |
8.718 |
|
(c)
Other current liabilities |
24.375 |
19.514 |
16.280 |
|
(d)
Short-term provisions |
403.156 |
110.602 |
77.027 |
|
Total
Current Liabilities (4) |
442.046 |
138.449 |
102.025 |
|
|
|
|
|
|
TOTAL |
1638.631 |
1476.955 |
568.481 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
243.032 |
201.914 |
29.834 |
|
(ii)
Intangible Assets |
10.310 |
6.620 |
1.376 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
379.097 |
487.964 |
239.400 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
46.457 |
36.803 |
140.460 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
678.896 |
733.301 |
411.070 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
189.665 |
64.296 |
41.999 |
|
(b)
Inventories |
6.219 |
14.659 |
12.443 |
|
(c)
Trade receivables |
468.494 |
411.909 |
73.489 |
|
(d)
Cash and cash equivalents |
150.911 |
110.823 |
10.574 |
|
(e)
Short-term loans and advances |
144.446 |
141.967 |
18.906 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
959.735 |
743.654 |
157.411 |
|
|
|
|
|
|
TOTAL |
1638.631 |
1476.955 |
568.481 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1481.098 |
1034.140 |
260.384 |
|
|
|
Other Income |
72.241 |
27.202 |
15.895 |
|
|
|
TOTAL (A) |
1553.339 |
1061.342 |
276.279 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of materials consumed |
51.510 |
20.577 |
27.858 |
|
|
|
Employee
benefit expense |
477.298 |
368.123 |
67.030 |
|
|
|
Other
expenses |
327.248 |
176.332 |
65.114 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and stock-in-trade |
1.900 |
2.696 |
(1.266) |
|
|
|
TOTAL (B) |
857.956 |
567.728 |
158.736 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
695.383 |
493.614 |
117.543 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.519 |
6.558 |
1.732 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
688.864 |
487.056 |
115.811 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
32.754 |
23.265 |
7.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
656.110 |
463.791 |
108.580 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
162.387 |
89.808 |
16.365 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
493.723 |
373.983 |
92.215 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
916.116 |
739.141 |
97.100 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim
Dividend |
301.297 |
59.892 |
59.854 |
|
|
|
Tax
on Interim Dividend |
48.885 |
10.179 |
0.000 |
|
|
|
Proposed
Dividend |
249.980 |
60.259 |
0.000 |
|
|
|
Tax
on Proposed Dividend |
42.484 |
9.775 |
9.942 |
|
|
|
Transfer
to General Reserve |
49.372 |
42.398 |
9.222 |
|
|
BALANCE CARRIED
TO THE B/S |
717.821 |
916.116 |
739.141 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Earnings
on professional and consultation fees |
357.087 |
277.685 |
29.026 |
|
|
|
Earnings
on other income |
1033.369 |
694.256 |
202.550 |
|
|
TOTAL EARNINGS |
1390.456 |
971.941 |
231.576 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
43.164 |
21.796 |
25.807 |
|
|
|
Capital Goods |
18.132 |
5.758 |
0.147 |
|
|
TOTAL IMPORTS |
61.296 |
27.554 |
25.954 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
20.53 |
15.62 |
3.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
31.78
|
35.23 |
33.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
44.30
|
44.85 |
41.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
52.09
|
46.90 |
32.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.35 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17
|
5.37 |
1.54 |
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 |
239.417 |
239.760 |
242.475 |
|
Reserves & Surplus |
213.604 |
1082.721 |
940.245 |
|
Net worth |
453.021 |
1,322.481 |
1,182.720 |
|
|
|
|
|
|
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 |
260.384 |
1034.140 |
1481.098 |
|
|
|
297.160 |
43.220 |
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 |
260.384 |
1034.140 |
1481.098 |
|
Profit |
92.215 |
373.983 |
493.723 |
|
|
35.42% |
36.16% |
33.33% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10279955 |
18/06/2013 * |
350,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR
OPPOSITE SAMARTHESHWAR TEMPLE, LAW G |
B79796777 |
|
2 |
10261140 |
28/12/2010 |
60,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET - II, GROUND
FLOOR, NEAR MITHAKHALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
B03735776 |
|
3 |
10261303 |
28/12/2010 |
60,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET - II, GROUND
FLOOR, NR. MITHAKHALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
B03737079 |
|
4 |
90095422 |
31/12/2004 |
425,000.00 |
INDUSTRIAL CREDIT & INVESTMENT
CORPORATION OF INDI |
AHMEDABAD, AHMEDABAD,
GUJARAT, INDIA |
- |
* Date of charge modification
BUSINESS REVIEW:
During the year the Company
has continued its growth rally and clocked the total income of Rs. 1481.097
Millions as compared to Rs. 1034.141 Millions during the previous year and
simultaneously net profit after tax also increases from Rs. 373.983 Millions
during the previous year to Rs. 493.723 Millions in the current year. During
the FY 2012-13, the turnover of group companies increased from previous year’s
group turnover of Rs. 1554.717 Millions to Rs. 2166.015 Millions an increase of
39% on a Year-on-Year basis.
FUTURE OUTLOOK, COMPANY PLANS AND EXPANSION PROJECT:
They have decided to have
special focus on markets other than USA like Europe, Israel, Taiwan and India.
They believe that going forward these economies can generate significant
business potentials for the company.
The future road-map of the Company
will be based on how well the Company embraces emerging technologies, increases
customer-centricity, deepens focus on new markets as mentioned above and adopts
new and customer-centric business models. This growth strategies led by
innovation is becoming more mainstream and they believe that their Company is
now well poised for growth with its talented engineering resources.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.84.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
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 |
|
64 |
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.