MIRA
INFORM REPORT
|
Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BASF CATALYSTS INDIA PRIVATE LIMITED (w.e.f. 21.03.2007) |
|
|
|
|
Formerly Known
As : |
ENGELHARD
ENVIRONMENTAL SYSTEMS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Vibgyor Towers, Unit
No.101, 1st Floor, G Block, C-62, Bandra-Kurla Complex, Mumbai –
400 051, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.05.1997 |
|
|
|
|
Com. Reg. No.: |
11-199824
(New) 18-038189 (Old) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.91.771 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27105MH1997PTC199824
(New) U27105TN1997PTC038189 (Old) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEE02147F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE2545B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the business of manufacturing Catalysts used in the
Automobiles. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8898000 |
|
|
|
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an
established company having a fine track record. Financial
position of the company seems to be decent. Trade relation are
reported to be fair. Business is active. Payment terms are reported to be
regular and as per commitments. The company can
be considered for normal business dealing 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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
(Tel. No.: 91-22-66618000)
LOCATIONS
|
Registered Office : |
Vibgyor Towers, Unit
No.101, 1st Floor, G Block, C-62, Bandra-Kurla Complex, Mumbai –
400 051, Maharashtra, India |
|
Tel. No.: |
91-22-66618000/ 66618137 |
|
Fax No.: |
91-22-67582753/ 67582752 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office/ Factory : |
E-17 and 18, Industrial Estate, Maraimalainagar – 603 209, Tamilnadu,
India |
|
Tel. No.: |
91-44-27454466/ 4489 |
|
Fax No.: |
91-44-27454490 |
DIRECTORS
AS ON 20.09.2013
|
Name : |
Mr. Balasubramanian Vaidyanathan |
|
Designation : |
Managing Director |
|
Address : |
C1, Sankalp, 22, Seethammal Road, Alwarpet, Chennai – 600 018,
Tamilnadu, India |
|
Date of Birth/Age : |
07.10.1956 |
|
Qualification : |
B. Tech, PGDM |
|
Experience : |
33 Years |
|
Date of Appointment : |
01.01.2003 |
|
DIN No.: |
00263983 |
|
PAN No.: |
AACPV4038M |
|
|
|
|
Name : |
Mr. Anup Kothari |
|
Designation : |
Director |
|
Address : |
Fraser Suites No.1, Lane 600, Central Yincheng Shanghai, China 200120 |
|
Date of Birth/Age : |
08.01.1968 |
|
Date of Appointment : |
29.06.2012 |
|
DIN No.: |
06368931 |
|
|
|
|
Name : |
Ramachandran Raman |
|
Designation : |
Director |
|
Address : |
3A, 3rd Floor, Silver Sands, 73, Carter Road, Bandra
(West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
25.03.1958 |
|
Date of Appointment : |
01.10.2013 |
|
DIN No.: |
00200297 |
|
|
|
|
Name : |
Mr. Regunathan Iyengar Srinivasan |
|
Designation : |
Director |
|
Address : |
2002, 20th Floor, Glendale Hiranandani Gardens, D Mart
Lane, Powai, Mumbai – 400 076, Maharashtra, India |
|
Date of Birth/Age : |
22.05.1954 |
|
Date of Appointment : |
28.07.2010 |
|
DIN No.: |
01437534 |
|
|
|
|
Name : |
Mr. Pradeep Manjunath Chandan |
|
Designation : |
Director |
|
Address : |
504, Mars Vasant Galaxy, Bangur Nagar, Goregaon, Mumbai – 400 090,
Maharashtra, India |
|
Date of Birth/Age : |
22.02.1962 |
|
Date of Appointment : |
25.06.2010 |
|
DIN No.: |
00200067 |
KEY EXECUTIVES
|
Name : |
Parthasarathy Thirumalaiswamy |
|
Designation : |
Secretary |
|
Address : |
9, New Colony, 8th ST Adambakkam, Chennai – 600 088,
Tamilnadu, India |
|
Date of Birth/Age : |
21.03.1969 |
|
Date of Appointment : |
18.08.2003 |
|
PAN No.: |
AEAPP4884P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
BASF Asia Pacific India Private Limited, India |
5506260 |
60.00 |
|
Nechemcat Corporation, Japan |
917710 |
10.00 |
|
Engelhard Asia Pacific LLC, USA |
2753130 |
30.00 |
|
Total
|
9177100 |
100.00 |
AS ON 20.09.2013
|
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] |
|
40.00 |
|
Bodies
corporate |
|
60.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of manufacturing Catalysts used in the
Automobiles. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
|
|
|
|
Bankers : |
Not
Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
B.S.R.
and Associates Chartered Accountants |
|
Address : |
BSR and Company No.10,
Mahtma Gandhi Road, Next to Ranjith Hotel, Nungambhakkam, Chennai – 600 034,
Tamilnadu, India |
|
PAN No.: |
AADFB6889R |
|
|
|
|
Ultimate Holding Company: |
BASF
SE, Germany is the Ultimate holding company and holds control in the Company
through its subsidiary companies : ·
BASF Nederland BV, Netherlands ·
BASFIN Corporation, United States ·
BASF Americas Corporation, United States* ·
BASF Catalysts Holding LLC, United States ·
BASF Catalysts Delaware LLC, United States ·
BASF Asia Pacific LLC, United States *BASF Catalysts LLC, USA
has been merged with BASF Corporation, USA |
|
|
|
|
Holding Company: |
BASF Asia Pacific (India)
Private Limited, India (CIN No.: U67120MH1996PTC101170) |
|
|
|
|
Associates: |
N.E Chemcat Corporation,
Japan |
|
|
|
|
Fellow Subsidiary Companies: |
·
BASF East Asia Regional Headquarters Limited, Hong Kong ·
BASF Catalysts Germany GmbH, Germany ·
Heesung Catalyst Corporation, Korea ·
BASF (China) Co. Limited, China ·
BASF Asia-Pacific Service SDN BHD, Malaysia ·
BASF South East Asia Pte Limited, Singapore ·
BASF India Limited, India (CIN No.: L33112MH1943FLC003972) ·
BASF South Africa Pty Limited, South Africa ·
BASF Company Limited, Korea ·
BASF Japan Limited, Japan ·
BASF Catalysts Shanghai Co, Limited, China ·
BASF IT Services Holding GmbH, Germany ·
BASF Chemcat (Thailand) Limited, Thailand ·
Cognis Specialty Chemicals Private Limited ·
Styrolution India Private Limited, India (CIN No.:
U25202MH2004FTC149830) |
CAPITAL STRUCTURE
AS ON 20.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9177100 |
Equity Shares |
Rs.10/- each
|
Rs.91.771
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 |
91.771 |
91.771 |
91.771 |
|
(b) Reserves & Surplus |
2132.620 |
1714.152 |
1308.041 |
|
(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) |
2224.391 |
1805.923 |
1399.812 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
60.412 |
66.573 |
66.573 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
5.335 |
3.032 |
3.311 |
|
Total Non-current
Liabilities (3) |
65.747 |
69.605 |
69.884 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
163.693 |
0.000 |
0.000 |
|
(b)
Trade payables |
1555.418 |
1685.213 |
1325.963 |
|
(c)
Other current liabilities |
239.504 |
170.229 |
155.772 |
|
(d) Short-term
provisions |
2.100 |
10.340 |
0.934 |
|
Total Current
Liabilities (4) |
1960.715 |
1865.782 |
1482.669 |
|
|
|
|
|
|
TOTAL |
4250.853 |
3741.310 |
2952.365 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
815.584 |
317.712 |
319.177 |
|
(ii)
Intangible Assets |
6.167 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.008 |
37.697 |
12.321 |
|
(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) |
2.575 |
5.259 |
8.610 |
|
(d) Long-term Loan and Advances |
114.895 |
70.665 |
36.908 |
|
(e) Other
Non-current assets |
0.000 |
0.026 |
0.026 |
|
Total Non-Current
Assets |
940.229 |
431.359 |
377.042 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1647.585 |
1610.889 |
1212.295 |
|
(c)
Trade receivables |
1101.252 |
924.846 |
812.950 |
|
(d) Cash
and cash equivalents |
57.556 |
500.986 |
392.574 |
|
(e)
Short-term loans and advances |
494.002 |
261.427 |
155.813 |
|
(f)
Other current assets |
10.229 |
11.803 |
1.691 |
|
Total
Current Assets |
3310.624 |
3309.951 |
2575.323 |
|
|
|
|
|
|
TOTAL |
4250.853 |
3741.310 |
2952.365 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
7223.910 |
6911.958 |
5211.085 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
7223.910 |
6911.958 |
5211.085 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
6272.109 |
4604.637 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
6546.989 |
6272.109 |
4604.637 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
676.921 |
639.849 |
606.448 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
3.042 |
3.820 |
6.059 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
673.879 |
636.029 |
600.389 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
46.028 |
35.908 |
35.185 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
627.851 |
600.121 |
565.204 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
209.383 |
194.010 |
187.848 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
418.468 |
406.111 |
377.356 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1601.686 |
1195.575 |
818.219 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2020.154 |
1601.686 |
1195.575 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1774.370 |
1028.915 |
263.207 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
45.60 |
44.25 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.79
|
5.88 |
7.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.78
|
16.23 |
19.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.33 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.10
|
0.04 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
1.77 |
1.74 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
91.771 |
91.771 |
91.771 |
|
Reserves & Surplus |
1308.041 |
1714.152 |
2132.620 |
|
Net worth |
1399.812 |
1805.923 |
2224.391 |
|
|
|
|
|
|
Long-term borrowings |
66.573 |
66.573 |
60.412 |
|
Short term borrowings |
0.000 |
0.000 |
163.693 |
|
Total borrowings |
66.573 |
66.573 |
224.105 |
|
Debt/Equity ratio |
0.048 |
0.037 |
0.101 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
5211.085 |
6911.958 |
7223.910 |
|
|
|
32.640 |
4.513 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
5211.085 |
6911.958 |
7223.910 |
|
Profit |
377.356 |
406.111 |
418.468 |
|
|
7.24% |
5.88% |
5.79% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current
maturities of long term debt |
6.162 |
0.000 |
27.138 |
|
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 |
No |
|
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 |
No |
|
34)
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
|
|
|
Interest
free sales tax deferral loan * |
60.412 |
66.573 |
|
SHORT-TERM BORROWINGS |
|
|
|
Overdrafts
from banks |
163.693 |
0.000 |
|
Total
|
224.105 |
66.573 |
Notes:
Long-term borrowings
*
Under a scheme of Government of Tamilnadu, the company has availed an interest
free sales tax incentive towards establishment of manufacturing facility in a
backward area. Repayment of Rs.10.663 millions of the loan has commenced from
January 2010 (amounts repaid as at balance sheet date – Rs.10.663 millions) and
the balance Rs.66.573 millions from November 2013.
Notes:
· The registered office of the company has been shifted from RBC, Mahindra Towers, 1st Floor, 'A' Wing, Dr. G.M. Bhosale Marg, Worli, Mumbai – 400 018, Maharashtra to the present address w.e.f. 12.03.2010.
·
No Charges Exist for Company.
BACKGROUND:
The Company was
incorporated on 15th May, 1997. The Company has been engaged in the business
of manufacture and sale of catalysts to the automobile industry.
REVIEW OF OPERATIONS:
The sales turnover has
increased to INR 7223.000 millions compared to 6912.000 millions in 2011-12
registering a growth of 4%. The Company was able to successfully start the
production and commercial supplies of Honda Motorcycle catalysts for Export to
ASEAN countries.
The Company has acquired a
long term leased land [99 years] near its existing site and will commence
construction of the new site for its expansion after getting necessary
approval.
The Company has been
awarded the business from Daimler India Commercial vehicles for supply of SCR
Catalysts. The supplies are expected to commence from 2015.
FIXED ASSETS:
Tangible Assets
·
Freehold Land
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Data Processing
Equipments
·
Office Equipments
·
Furniture and Fittings
·
Vehicles
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 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.60.05 |
|
UK Pound |
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
|
54 |
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.