MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
PHOENIX CONTACT INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A- 58/2, Okhla Industrial Area, Phase- II, New Delhi - 110020 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.06.1992 |
|
|
|
|
Com. Reg. No.: |
55-049206 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2252.558
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1992PTC049206 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP09165C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0313L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Connectors, Terminal Blocks its Parts and
Accessories broadly Electrical and Electronics Components etc., |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4150000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by
accumulated losses that company has incurred over a year and below average financial
performance. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealings with some
caution. |
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-11-30262800]
LOCATIONS
|
Registered Office/ Factory 1 : |
A- 58/2, Okhla Industrial Area, Phase- II, New Delhi – 110020, India |
|
Tel. No.: |
91-11-30262800/ 835 |
|
Fax No.: |
91-11-26383285 |
|
E-Mail : |
bangalore@phoenixcontact.co.in coimbatore@phoenixcontact.co.in hyderabad@phoenixcontact.co.in ahmedabad@phoenixcontact.co.in jamshedpur@phoenixcontact.co.in |
|
Website : |
|
|
|
|
|
Factory 2 : |
F- 26/2, Okhla Industrial Area, Phase- II, New Delhi - 110020, India |
|
Tel. No.: |
91-11-30262700 |
|
Fax No.: |
91-11-41611070/ 41611071 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Prithala - Dhatir Road, Village Dudhola, The Palwal, District
Faridabad - 121102, Haryana, India |
|
Tel. No.: |
91-1275-248100 |
|
Fax No.: |
91-1275-248150 |
|
E-Mail : |
|
|
|
|
|
Regional Offices : |
Located at: Southern Region · Bangalore · Chennai · Coimbatore ·
Hyderabad Western Region · Mumbai · Pune · Ahmedabad · Baroda · Surat ·
Indore Eastern Region · Kolkata · Jamshedpur · Raipur Northern Region · Delhi ·
Chandigarh |
DIRECTORS
AS ON 24.09.2012
|
Name : |
Mr. Ravinder Singh Sabharwal |
|
Designation : |
Director |
|
Address : |
F-87, 1st Floor, Lajpat Nagar, New Delhi – 110024,
India |
|
Date of Birth/Age : |
07.11.1956 |
|
Date of Appointment : |
31.08.2006 |
|
PAN No.: |
AATPS3915P |
|
Voter ID No.: |
DL/01/005/048897 |
|
DIN No.: |
00452889 |
|
|
|
|
Name : |
Mr. Frank Stuehrenberg |
|
Designation : |
Director |
|
Address : |
Lindenweg 1, 32756, Detmold, Germany |
|
Date of Birth/Age : |
07.04.1963 |
|
Date of Appointment : |
23.01.2002 |
|
DIN No.: |
00984899 |
|
|
|
|
Name : |
Mr. Ralf Massmann |
|
Designation : |
Director |
|
Address : |
Werster Strasse-125, 32584, Lohne, Germany |
|
Date of Birth/Age : |
07.07.1968 |
|
Date of Appointment : |
02.05.2001 |
|
DIN No.: |
01081734 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Kumar Shukla |
|
Designation : |
Secretary |
|
Address : |
500/5A, Govindpuri, Kalkaji, New Delhi – 110019, India |
|
Date of Birth/Age : |
12.04.1986 |
|
Date of Appointment : |
09.08.2010 |
|
PAN No.: |
BRWPS7770R |
|
|
|
|
Name : |
Mr. Dinesh Parwanda |
|
Designation : |
President |
|
Date of Birth/Age : |
54 Years |
|
Qualification : |
Higher Secondary |
|
Experience : |
25 Years |
|
|
|
|
Name : |
Mr. Ashish Manchanda |
|
Designation : |
Marketing Manager |
|
Date of Birth/Age : |
42 Years |
|
Qualification : |
Elect. Engg., M.B.A. |
|
Experience : |
21 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Phoenix Contact Gmbh and Company KG, Germany |
22300326 |
99.00 |
|
Dinesh Parwanda |
225256 |
1.00 |
|
|
|
|
|
Total |
22525582 |
100.00 |
AS ON 24.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
99.00 |
|
Other
top fifty shareholders |
1.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Connectors, Terminal Blocks its Parts and
Accessories broadly Electrical and Electronics Components etc., |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· Indian Overseas Bank Kailash Colony, New Delhi - 110048, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bansal and Company Chartered Accountants |
|
Address : |
A-6, Maharani Bagh, New Delhi – 110065, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB6603L |
|
|
|
|
Holding company
: |
Phoenix Contract GMBH and Company, Germany |
|
|
|
|
Associate : |
· Phoenix Contact China (Holding Company) Limited · Phoenix Contact Industria E-Commercio · Phoenix Test Lab GmbH · Phoenix Contact Middle East FZ LLC · Conninverse Gmbh · Phoenix Feinbau GMBH and Company · Phoenix Feinbau GMBH · Phoenix Contact Industria · PXC USA · Phoenix Contact Asia · PXC SAS France 201037 · Phoenix Contact USA · Phoenix Contact Asia-Pacific (Nanjing) Company Limited · Phoenix Contact MIDDI United Arab Emirates |
|
|
|
|
Enterprises
which are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Trinity Touch Private Limited [U74899DL1970PTC005320] · EC Trading |
CAPITAL STRUCTURE
AFTER 26.09.2013
Authorised Capital : Rs. 2600.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 2492.558
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,995,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2299.500 Millions |
|
5,000 |
Preference Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
Total |
|
Rs. 2300.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,525,582 |
Equity Shares |
Rs. 100/- each |
Rs. 2252.558
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 |
2252.558 |
2252.558 |
2252.558 |
|
(b) Reserves & Surplus |
(1214.031) |
(863.392) |
(541.818) |
|
(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) |
1038.527 |
1389.166 |
1710.740 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
141.880 |
0.000 |
64.330 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
9.261 |
10.261 |
10.261 |
|
(d) long-term
provisions |
24.357 |
23.820 |
19.163 |
|
Total Non-current
Liabilities (3) |
175.498 |
34.081 |
93.754 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
60.339 |
68.520 |
0.000 |
|
(b) Trade
payables |
493.903 |
484.652 |
589.478 |
|
(c) Other
current liabilities |
27.645 |
105.582 |
31.093 |
|
(d) Short-term
provisions |
18.746 |
21.415 |
138.137 |
|
Total Current
Liabilities (4) |
600.633 |
680.169 |
758.708 |
|
|
|
|
|
|
TOTAL |
1814.658 |
2103.416 |
2563.202 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
492.304 |
418.491 |
298.648 |
|
(ii)
Intangible Assets |
0.000 |
374.335 |
748.671 |
|
(iii)
Capital work-in-progress |
5.360 |
18.118 |
4.399 |
|
(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) |
6.396 |
7.598 |
10.256 |
|
(d) Long-term Loan and Advances |
8.450 |
8.882 |
44.204 |
|
(e) Other Non-current
assets |
0.309 |
0.807 |
2.636 |
|
Total Non-Current
Assets |
512.819 |
828.231 |
1108.814 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
627.936 |
635.651 |
561.272 |
|
(c) Trade
receivables |
540.796 |
502.845 |
557.041 |
|
(d) Cash
and cash equivalents |
2.982 |
2.965 |
129.310 |
|
(e)
Short-term loans and advances |
110.700 |
125.887 |
200.700 |
|
(f) Other
current assets |
19.425 |
7.837 |
6.065 |
|
Total
Current Assets |
1301.839 |
1275.185 |
1454.388 |
|
|
|
|
|
|
TOTAL |
1814.658 |
2103.416 |
2563.202 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
1874.147 |
1971.052 |
1797.737 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1756.294 |
1828.816 |
1391.520 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
117.853 |
142.236 |
406.217 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.774 |
3.874 |
2.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
110.079 |
138.362 |
404.015 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
73.711 |
54.712 |
50.644 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
36.368 |
83.650 |
353.371 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
387.007 |
405.225 |
496.942 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(350.639) |
(321.575) |
(143.571) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
291.022 |
196.796 |
237.792 |
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORT |
1036.426 |
1172.501 |
923.964 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(15.57) |
(14.28) |
(6.37) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(18.71)
|
(16.31)
|
(7.99)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.02
|
4.03 |
13.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.06 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.19
|
0.05 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17
|
1.87 |
1.92 |
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 |
2252.558 |
2252.558 |
2252.558 |
|
Reserves & Surplus |
(541.818) |
(863.392) |
(1214.031) |
|
Net
worth |
1710.740 |
1389.166 |
1038.527 |
|
|
|
|
|
|
long-term borrowings |
64.330 |
0.000 |
141.880 |
|
Short term borrowings |
0.000 |
68.520 |
60.339 |
|
Total
borrowings |
64.330 |
68.520 |
202.219 |
|
Debt/Equity
ratio |
0.038 |
0.049 |
0.195 |
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) |
|
Total Income |
1797.737 |
1971.052 |
1874.147 |
|
|
|
9.641 |
(4.916) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1797.737 |
1971.052 |
1874.147 |
|
Profit/ (Loss) |
(143.571) |
(321.575) |
(350.639) |
|
|
(7.99%) |
(16.31%) |
(18.71%) |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
141.880 |
0.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
60.339 |
68.520 |
|
|
|
|
|
Total |
202.219 |
68.520 |
OPERATONS OF THE
COMPANY
In the year 2012-13, the macro environment remains challenging and uncertain. There was a divergence in growth and prospects across geographies as both governments and central banks attempted to revive fledgling growth. To some extent improving consumer confidence and structural policy decisions in the developed markets are providing the required momentum to kick-start the economy on to the path of recovery.
The Indian economy in 2012-13, witnessed a decadal low growth in GDP of 5.0%. The country has seen economic expansion drop since the start of the 2011 to levels even below the crisis years of 2008-09. The slowdown which started in the industrial sector also extended to services sector which has been the mainstay of India’s growth story.
Delayed policy measures, slow-down in industrial production, persistently high interest rates and liquidity concerns adversely impacted the investment climate in India in 2012-13. Consequently, the commitments on capital expenditure and fresh investments were deferred, impacting growth prospects of businesses of the Company operating in certain sectors such as Power, Minerals and Metals, Defence and Fertilizer. The sectoral bottlenecks also had an impact on progress on a few ongoing projects.
The businesses of the Company faced intense competition from domestic as well as international players constraining the ability of the prices to absorb the cost increases.
The uncertain economic environment, increasing competition,
stricter regulatory and compliance framework and changing customer behavior are
forcing businesses to adapt to change and continuously look for ways to stay
relevant to the market and customers.
The company is working hard to standardize, rationalize and transform business operations to become operationally efficient and remain cost competitive in the market place. The Company is working closely with its customers to gain deeper insights into customers’ needs to realign its offerings accordingly.
The company's revenue from operation has decreased by 5% due
to the economic environment. The profit before tax was INR 36.360 Million
during the year; the decrease is mainly because of unfavorable foreign exchange
fluctuation.
FIXED ASSETS:
· Land
· Buildings
· Residential building
· Factory building
· Plant and equipment
· Factory equipments
· Other pollution reduction equipment
· Furniture and fixtures
· Other plant and equipment
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
·
Goodwill
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. 82.58 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.