MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
L 52/55, Verna Industries Estate, Phase – II, Verna, Salcete, Goa -
403722, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.09.1996 |
|
|
|
|
Com. Reg. No.: |
24-002193 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.199.996
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29197GA1996PTC002193 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRP05854C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS8856L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is business of Manufacturing of
Composite Pressure Vessels and Components for Water Treatment. |
|
|
|
|
No. of Employees
: |
700 (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 |
|
Maximum Credit Limit : |
USD 7581600 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects healthy financial risk profile marked by fair profitability
levels and sound liquidity position. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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
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. Vara Prasad |
|
Designation : |
Deputy General Manager |
|
Contact No.: |
91-832-2883300 |
|
Date : |
28.03.2014 |
LOCATIONS
|
Registered Office / Factory: |
L 52/55, Verna Industries Estate, Phase – II, Verna, Salcete, Goa -
403722, India |
|
Tel. No.: |
91-832-2883300 / 2783018 |
|
Fax No.: |
91-832-2883312 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate / Sales / Marketing Office : |
Green Boulevard, B-9/A, 7th Floor, Tower B, Sector 62, Noida – 201
301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4199444 |
|
Fax No.: |
91-120-4199400 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Regional Offices : |
CHENNAI Eurocon Tiles, 3rd Floor, No.161, Greams Road (Landmark near Apollo
Hospital), Chennai – 600 006, Tamilnadu, India Tel no.: 91-44-42122046
/ 42122047 MUMBAI 301, Omega, Hiranandani Gardens, powai, Mumbai – 400 076, Maharashtra,
India Tel No.: 91-22-25706422
/ 25623670 AHMADABAD 503, Sukh Sagar Complex, Ashram Road, Usmanpura, Near Fortune
Landmark, Ahmadabad – 380 013, Gujarat, India Tel No.: 91-79-30620174 |
|
|
|
|
Global Business Unit: |
AQUATIC SYSTEMS Green Boulevard, B-9/A, 7th Floor, Tower B, Sector 62, Noida-201301, Tel No.: 91-120-4199444 Fax No.: 91-120-419 9400 FILTRATION AND PROCESS 161, Eurocon Tiles, 3rd Floor, Greams Road, (Land Mark near Apollo Hospital), Chennai-600006, Karnataka, India Tel No.: 91-44-42122046/ 42122047 FLOW TECHNOLOGY 804, Windsor, Kalina, Santacruz, Mumbai – 400098,
Maharashtra, India Tel No.: 91-22-61310600 THERMAL MANAGEMENT 1st Floor, Ujagar Infotech Park, Opposite Deonar Bus Depot, Deonar, Mumbai – 400088, Maharashtra, India Tel No.: 91-22-67758800/01 VALVES AND CONTROL 804, Windsor, Kalina, Santacruz, Mumbai – 400098,
Maharashtra, India Tel No.: 91-22-61310600 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Maruthi |
|
Designation : |
Director |
|
Address : |
Flat C-2, Block-A, Sundew Apartments, Margao Goa - 403601, India |
|
Date of Birth/Age : |
01.06.1977 |
|
Date of Appointment : |
21.08.2008 |
|
DIN No.: |
02032136 |
|
|
|
|
Name : |
Mr. Juan Francisco Brondo |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
2324 Red River Dr, Mission TX, Texas-78572, Mexico |
|
Date of Birth/Age : |
17.10.1961 |
|
Date of Appointment : |
22.03.2010 |
|
DIN No.: |
03015949 |
|
|
|
|
Name : |
Ms. Angela Dee Lageson |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
21 Ludlow Ave, St Paul, Minnesota-55108, |
|
Date of Birth/Age : |
11.09.1968 |
|
Date of Appointment : |
22.03.2010 |
|
DIN No.: |
03018715 |
|
|
|
|
Name : |
Mr. Raghunath Vitthal Mane |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Villla Avetti, Behind China House, Murida, Fatorda
Salcete-403602, South Goa, India |
|
Date of Birth/Age : |
01.06.1973 |
|
Date of Appointment : |
01.03.2013 |
|
DIN No.: |
06611549 |
KEY EXECUTIVES
|
Name : |
Mr. Maruthi |
|
Designation : |
Secretary |
|
Address : |
Flat C2, Block A, Sun Dew Apartment, Near Cine Vishant,
Margao-403601, South Goa, |
|
Date of Birth/Age : |
01.06.1977 |
|
Date of Appointment : |
01.07.2005 |
|
Pan No.: |
AGXPG4714A |
|
|
|
|
Name : |
Mr. Vara Prasad |
|
Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
EPPS Limited, Mauritius |
3999980 |
20.00 |
|
Pentair Water Treatment (OH) Company, |
15999572 |
80.00 |
|
|
|
|
|
TOTAL
|
19999552 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is business of Manufacturing of
Composite Pressure Vessels and Components for Water Treatment. |
|
|
|
|
Exports : |
|
|
Products : |
Composite Pressure Vessels and Components
for Water Treatment. |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
GENERAL INFORMATION
|
No. of Employees : |
700 (Approximately) |
|
|
|
|
Bankers : |
Bank of India, Branch Varnabhuva, Goa, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th – 32nd Floor, Indiabulls Finance Centre,
Elphinstone Mill Compound, Senapati Bapat Marg, Elphinstone (West),
Mumbai-400013, Maharashtra, India |
|
Tel No.: |
91-22-61854000 |
|
Fax No.: |
91-22-61854501/4601 |
|
PAN No: |
AACFD 4815A |
|
|
|
|
Holding Company : |
Pentair Water Treatment (OH) Company, USA |
|
|
|
|
Ultimate Holding Company : |
Pentair Inc., USA |
|
|
|
|
Subsidiary : |
Pentair
Water Treatment Private Limited |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
46500000 |
Equity Shares |
Rs.10/- each |
Rs.465.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19999552 |
Equity Shares |
Rs.10/- each
|
Rs.199.996
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
199.996 |
325.187 |
|
(b) Reserves & Surplus |
|
1695.425 |
1458.908 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
1895.421 |
1784.095 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
Long-term provisions |
|
52.808 |
23.225 |
|
Total
Non-current Liabilities (3) |
|
52.808 |
23.225 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
432.517 |
455.104 |
|
(c)
Other current liabilities |
|
56.898 |
16.940 |
|
(d)
Short-term provisions |
|
82.447 |
80.956 |
|
Total
Current Liabilities (4) |
|
571.862 |
553.000 |
|
|
|
|
|
|
TOTAL |
|
2520.091 |
2360.320 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
378.586 |
360.036 |
|
(ii)
Intangible Assets |
|
0.446 |
2.033 |
|
(iii)
Capital work-in-progress |
|
61.634 |
3.394 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.074 |
0.074 |
|
(c) Deferred tax assets
(net) |
|
17.465 |
23.993 |
|
(d) Long-term Loan and
Advances |
|
86.627 |
72.195 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
544.832 |
461.725 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
349.081 |
335.909 |
|
(c)
Trade receivables |
|
625.167 |
668.042 |
|
(d)
Cash and cash equivalents |
|
350.835 |
249.860 |
|
(e)
Short-term loans and advances |
|
647.554 |
604.213 |
|
(f)
Other current assets |
|
2.622 |
40.571 |
|
Total
Current Assets |
|
1975.259 |
1898.595 |
|
|
|
|
|
|
TOTAL |
|
2520.091 |
2360.320 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
325.187 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1394.488 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1719.675 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1719.675 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
369.779 |
|
|
Capital work-in-progress |
|
|
9.680 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.074 |
|
|
DEFERRED TAX ASSETS |
|
|
29.339 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
254.456 |
|
|
Sundry Debtors |
|
|
365.049 |
|
|
Cash & Bank Balances |
|
|
571.623 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
575.309 |
|
Total
Current Assets |
|
|
1766.437 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
336.863 |
|
|
Other Current Liabilities |
|
|
4.544 |
|
|
Provisions |
|
|
114.227 |
|
Total
Current Liabilities |
|
|
455.634 |
|
|
Net Current Assets |
|
|
1310.803 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1719.675 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2696.925 |
2661.761 |
1489.139 |
|
|
|
Other Income |
41.450 |
163.095 |
278.826 |
|
|
|
TOTAL (A) |
2738.375 |
2824.856 |
1767.965 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1520.241 |
1621.385 |
|
|
|
|
Employee Benefits Expenses |
415.408 |
425.827 |
1564.656 |
|
|
|
Other Expenses |
585.757 |
652.751 |
|
|
|
|
Decrees/Increase in Inventories of Finished Goods, Work in Progress |
6.352 |
(37.307) |
|
|
|
|
TOTAL (B) |
2527.758 |
2662.656 |
1564.656 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
210.617 |
162.200 |
203.309 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.999 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
208.618 |
162.200 |
203.309 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
42.265 |
49.086 |
38.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
166.353 |
113.114 |
164.909 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
55.028 |
48.974 |
58.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
111.325 |
64.140 |
106.905 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
1285.083 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
1391.988 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Products |
1511.160 |
1556.545 |
NA |
|
|
|
Sale of Services |
205.984 |
194.593 |
NA |
|
|
TOTAL EARNINGS |
1717.144 |
1751.138 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
806.426 |
837.661 |
NA |
|
|
|
Stores & Spares |
6.138 |
9.900 |
NA |
|
|
|
Capital Goods |
23.835 |
2.927 |
NA |
|
|
TOTAL IMPORTS |
836.399 |
850.488 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.04 |
3.52 |
5.87 |
|
Expected Sales (2013-14) : Rs.3000.000 Millions.
The above information has been parted by Mr. Vara Prasad.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.07
|
2.27 |
6.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.17
|
4.25 |
11.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.82
|
4.85 |
7.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.06 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.45
|
3.43 |
3.87 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
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 |
1489.139 |
2661.761 |
2696.925 |
|
|
|
78.745 |
1.321 |
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 |
1489.139 |
2661.761 |
2696.925 |
|
Profit |
106.905 |
64.140 |
111.325 |
|
|
7.18% |
2.41% |
4.13% |
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 |
Yes |
|
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 |
Yes |
|
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] |
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 |
|
CASE DETAILS HIGH COURT OF
BOMBAY CAST INFORMATION
SYSTEM REG. NO.:- TXA / 5 / 2013 STAMP NO. :- STM / 305 / 2013
|
BACKGROUND:
Subject was incorporated on 26th
September, 1996. The registered office is situated at L/52-55, Verna Industrial
Estate, Phase-II, Verna-403722, Goa, India. The company is business of
manufacturing of composite pressure vessels and components for water treatment.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
- Leasehold Land
- Building
- Plant and
Machinery
- Office
Equipment
- Furniture and
Fixture
- Motor
Vehicles
- Goodwill
- 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 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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
YES |
|
--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 |
|
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.