MIRA
INFORM REPORT
|
Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
GE INDIA TECHNOLOGY CENTRE PRIVATE LIMITED |
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Registered
Office : |
SY No. 152, Export Promotion Industrial Park, Phase-2, Hoodi Village, Whitefield Road, Bangalore – 560066, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
10.06.1999 |
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Com. Reg. No.: |
08-025325 |
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Capital Investment
/ Paid-up Capital : |
Rs. 711.900 Millions |
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CIN No.: [Company Identification
No.] |
U85110KA1999PTC025325 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG00869B |
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PAN No.: [Permanent Account No.] |
AABCG0559J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of research and development
activity in the areas of material sciences, process technology and providing engineering
analysis and related software development services/ export of customized
electronic data. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 19790000 |
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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 good track record. Financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 BY
|
Name : |
Mr. Patanjali |
|
Designation : |
Finance Controller |
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Contact No.: |
91-80-40121894 |
|
Date : |
09.05.2014 |
LOCATIONS
|
Registered Office / Head Office : |
SY No. 152, |
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Tel. No.: |
91-80-40881813 |
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Fax No.: |
91-80-28412111 |
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E-Mail : |
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Website : |
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Area : |
40000 sq. ft - (3 acres land) |
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Location : |
Owned |
DIRECTORS
As on 23.07.2013
|
Name : |
Mr. Gopichand Katragadda |
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Designation : |
Managing Director |
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Address : |
No. 254, Palm Meadows, Ramagondanhalli, Bangalore, Karnataka, India |
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Date of Birth/Age : |
08.05.1968 |
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Date of Appointment : |
25.06.2013 |
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DIN No. : |
02475721 |
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Other Directorship :
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Name : |
Mr. Bansidhar Jagannath Phansalkar |
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Designation : |
Alternate Director |
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Address : |
No. 7, Hyde Park, 27, Rustumji
LO, Whitefield, Bangalore, Karnataka, India |
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Date of Birth/Age : |
13.04.1966 |
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Date of Appointment : |
01.05.2013 |
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DIN No. : |
02687689 |
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Other Directorship :
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Name : |
Mr. Alok Nanda |
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Designation : |
Whole-time Director |
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Address : |
216, Richfield Apartment, Marathahalli, Bangalore – 560037, Karnataka,
India |
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Date of Birth/Age : |
11.06.1970 |
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Date of Appointment : |
01.05.2013 |
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DIN No. : |
05330441 |
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Other Directorship :
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Name : |
Mr. Nagesh Bailur |
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Designation : |
Director |
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Address : |
No.59, 6th Main, 7th Block, 4th
Phase, BSK 3rd Stage, Bangalore – 560085, Karnataka, India |
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Date of Birth/Age : |
01.11.1971 |
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Date of Appointment : |
12.08.2013 |
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DIN No. : |
06484477 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Patanjali |
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Designation : |
Finance Controller |
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Name : |
Omkar Nagesh Gayatri |
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Designation : |
Secretary |
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Address : |
Site No. 3, Muniveera Reddy L/O, Channasandra, Bangalore, Karnataka,
India |
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Date of Birth/Age : |
22.06.1982 |
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Date of Appointment : |
24.04.2012 |
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PAN No. : |
AMYPG5389G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.07.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
GE Mauritius Infrastructure Holdings Limited, Mauritius* |
67497218 |
99.00 |
|
GE Pacific (Mauritius) Limited, Mauritius |
681790 |
1.00 |
|
Total |
68179008 |
100.00 |
* Beneficial Owner of 1 (one only) share is GE Pacific (Mauritius)
Limited
As on 23.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of research and development
activity in the areas of material sciences, process technology and providing
engineering analysis and related software development services/ export of
customized electronic data. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B S R and Company Chartered Accountants |
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Address : |
Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore – 560071, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
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Holding Company: |
GE Mauritius Infrastructure Holdings Limited |
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Ultimate Holding
Company: |
General Electric Company, USA |
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Fellow Subsidiary
company: |
· GE Power Controls India Private Limited CIN No.: U31200DL1998PTC092619 GE India Business Services Private Limited CIN No.: U72900DL1999PTC102432 |
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Parties under
common control: |
· Bentley Nevada Inc. Bentley Nevada LLC Beta Research and Development Limited Dresser Inc GE (China) Company Limited GE (China) Research And Development Center Company Limited GE Aircraft Engines Ge Aviation Czech S.R.O. GE Aviation Systems Limited GE Betz Inc. GE Capital Services India GE Drives and Controls, INC Ge Embedded Systems, Inc. GE Fanuc Embedded Systems, INC GE Fanuc Intelligent Platforms, INC. GE Gas Turbines (Greenville) L.L.C. Ge Gasification Ge Global Signalling GE Healthcare Bio-Sciences AB GE Healthcare Bio-Sciences Limited GE Healthcare INC GE Healthcare Limited Ge Healthcare Limited (Great Britain) Ge Healthcare X-Ray Detector Lab GE India Exports Private Limited GE India Industrial Private Limited GE Infrastructure Technology International LLC GE Inspection Technologies LP GE Intelligent Platforms Private Limited CIN No.: U72200KA1997PTC022158 GE Intelligent Platforms, INC. Ge International Inc GE International Inc., Korea Branch GE Jenbacher GMBH and CO OG GE Medical Systems (India) Private Limited CIN No.: U31909KA2004PTC034146 Ge Medical Systems Xray (Sa) Limited GE Money Financial Services Limited CIN No.: U65929DL1994PTC116256 Ge Oil and Gas - Operations L.L.C. GE Pacific (Mauritius) Limited GE Sensing and Inspection Technologies GMBH GE Smallworld GE Transportation Parts, LLC. GE Transportation Systems Global Signaling, LLC General Electric Bahrain Company W.L.L. General Electric Canada General Electric Deutschland Holding Gmbh HydrilUsa Distribution LLC HydrilUsa Manufacturing LLC Lumination LLC MRA Systems, Inc. Nuovo Pignone S.P.A. Nuovo Pignone S.R.L. Smiths Aerospace LLC Thermodyn S.A.S. Vetco Gray Inc Vetco Gray Scandinavia A.S. Vetco Gray U.K. Limited Wellstream International Limited Wipro GE Healthcare Private Limited CIN No.: U33111KA1990PTC016063 |
CAPITAL STRUCTURE
As on 23.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
68,179,008 |
Equity Shares |
Rs.10/- each |
Rs. 681.790 Millions |
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As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
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|
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
71,185,688 |
Equity Shares |
Rs.10/- each |
Rs. 711.900 Millions |
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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 |
711.900 |
849.300 |
849.300 |
|
(b) Reserves & Surplus |
4235.200 |
4662.700 |
3974.000 |
|
(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) |
4947.100 |
5512.000 |
4823.300 |
|
|
|
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(3) Non-Current Liabilities |
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|
|
|
(a) long-term Borrowings |
154.900 |
135.600 |
373.300 |
|
(b) Deferred Tax Liabilities (Net) |
77.500 |
0.000 |
0.000 |
|
(c) Other Long Term Liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term Provisions |
338.700 |
466.000 |
227.600 |
|
Total Non-current Liabilities (3) |
571.100 |
601.600 |
600.900 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short Term Borrowings |
0.000 |
0.000 |
168.600 |
|
(b) Trade Payables |
693.900 |
588.900 |
834.900 |
|
(c) Other Current
Liabilities |
626.600 |
468.900 |
665.500 |
|
(d) Short-term Provisions |
54.700 |
66.600 |
115.300 |
|
Total Current Liabilities (4) |
1375.200 |
1124.400 |
1784.300 |
|
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|
|
|
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TOTAL |
6893.400 |
7238.000 |
7208.500 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible Assets |
4044.600 |
3839.000 |
4087.100 |
|
(ii) Intangible Assets |
133.400 |
52.400 |
23.800 |
|
(iii) Capital
Work-in-Progress |
303.200 |
381.900 |
4.400 |
|
(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) |
226.000 |
240.500 |
136.300 |
|
(d) Long-term Loan and Advances |
544.400 |
220.600 |
167.400 |
|
(e) Other Non-current Assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5251.600 |
4734.400 |
4419.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current Investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade Receivables |
769.100 |
704.300 |
540.900 |
|
(d) Cash and Cash
Equivalents |
544.600 |
1463.900 |
2089.300 |
|
(e) Short-term Loans and
Advances |
328.100 |
141.400 |
139.000 |
|
(f) Other Current Assets |
0.000 |
194.000 |
20.300 |
|
Total Current Assets |
1641.800 |
2503.600 |
2789.500 |
|
|
|
|
|
|
TOTAL |
6893.400 |
7238.000 |
7208.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8634.400 |
7674.600 |
6761.800 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2109.700 |
1827.700 |
1625.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
946.600 |
806.200 |
744.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1163.100 |
1021.500 |
880.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
364.000 |
334.800 |
300.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
799.100 |
686.700 |
580.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
8604.900 |
7671.500 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.23 |
8.09 |
6.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.47 |
13.31 |
13.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.28 |
15.44 |
12.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.19 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03 |
0.02 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
2.23 |
1.56 |
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 |
849.300 |
849.300 |
711.900 |
|
Reserves & Surplus |
3974.000 |
4662.700 |
4235.200 |
|
Net
worth |
4823.300 |
5512.000 |
4947.100 |
|
|
|
|
|
|
long-term borrowings |
373.300 |
135.600 |
154.900 |
|
Short term borrowings |
168.600 |
0.000 |
0.000 |
|
Total
borrowings |
541.900 |
135.600 |
154.900 |
|
Debt/Equity
ratio |
0.112 |
0.025 |
0.031 |
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 |
6761.800 |
7674.600 |
8634.400 |
|
|
|
13.499 |
12.506 |
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 |
6761.800 |
7674.600 |
8634.400 |
|
Profit |
580.600 |
686.700 |
799.100 |
|
|
8.59% |
8.95% |
9.25% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
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] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
BACKGROUND
The Company was incorporated on 10 June 1999 as a Private Limited Company under the Companies Act, 1956 (the Act). The registered office of the Company is located at Bangalore. The Company obtained the Foreign Investment Promotion Board (FIPB) approval on 20 April 1999 to set up a 100% export oriented unit (EOU) in Bangalore, registered with the Cochin Export Processing Zone (CEPZ) under chapter XV of the EXIM Policy, 1997 -2002. The Company commenced commercial operations on 20 August 1999. With effect from 1 April 2004, Engineering Analysis Centre of Excellence Private Limited (EACOE), a company incorporated under the Act amalgamated with the Company as a going concern pursuant to a scheme of amalgamation approved by the Honourable High Court of Karnataka. The Company is engaged in the business of research and development activity in the areas of material sciences, process technology and providing engineering analysis and related software development services/ export of customized electronic data.
BUSINESS OPERATIONS:
During the year the Company had a steady growth in business operations and derived its income from business of carrying out research and development activities in several areas of technology leading to the creation of customized electronic data including engineering drawings and designs, programs, etc.
FIXED ASSETS
Tangible assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
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 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
63 |
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.