MIRA
INFORM REPORT
|
Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
WACKER METROARK
CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village and Post Chandi (S), |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
13.08.1998 |
|
|
|
|
Com. Reg. No.: |
21-087722 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.172.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119WB1998PTC087722 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALWO2224F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW2192G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Silicones Based Products |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 8400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a Wacker Chemie AG Germany. It is an established company having good track record. Financial position of the company is sound. No borrowings recorded by the company. Net worth of the company is
healthy. Trade relations are reported as fair. Business is active. Payments
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 DENIED
Management is non co-operative, Tel No.91-33-24072100
LOCATIONS
|
Registered Office : |
Village and Post Chandi (S), DH Road, PS Bushnupur, 24 Parganas (S) –
743503, West Bengal, India |
|
Tel. No.: |
91-33-24072100
/ 30619221 |
|
Fax No.: |
91-33-24709943
/ 24072502 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Offices : |
Located At: ·
Mumbai ·
Delhi ·
Bangalore ·
Chennai |
DIRECTORS
As on: 26.03.2013
|
Name : |
Mr.
Soumitra Ranjan Mukherjee |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
368/3,
Parnasree Pally, Kolkata – 700060, West Bengal, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.01.1955 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
13.08.1998 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AENPM4058D |
||||||||||||||||||||||||||||||||||||
|
Voter ID No.: |
WB/23/150/003163 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01113738 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr.
Avijit Banerjee |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
8/B, Nakuleswar Bhattacharjee Lane, Kolkata – 700026, West Bengal,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.07.1961 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.12.1998 |
||||||||||||||||||||||||||||||||||||
|
Voter ID No.: |
WB/18/113/162861 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00031164 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Christian Hartel |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Barabarinostr.7, Burghausen, Germany-84489 |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.03.1971 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.06.2012 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05321885 |
||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Tiwari |
|
Designation : |
Company Secretary |
|
Address : |
B – 234, Prince Anwar Shah Road, Lake Gardens, 2nd Floor,
Kolkata – 700045, West Bengal, India |
|
Date of Birth/Age : |
12.11.1952 |
|
Date of Appointment : |
12.08.2002 |
|
Voter ID No.: |
KNH2171445 |
|
PAN No.: |
ABRPT2839G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.03.2013
|
Names of Shareholders |
|
No. of Shares |
|
Metroark
Private Limited, India |
|
845250 |
|
Wacker
Chemie AG, Germany |
|
879750 |
|
|
|
|
|
Total |
|
1725000 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.03.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Bodies corporate |
|
49.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Silicones Based Products |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Deutsche Bank, Brook House No. 9, Shakespeare Sarani, Kolkata –
700071, West Bengal, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. P.
Chaterjee and Company Chartered
Accountants |
|
Address : |
10, Old
Court House Street, Kolkata - 700 001, West Bengal, India |
|
PAN No.: |
AAMFS3042A |
|
|
|
|
Holding Company : |
Wacker Chemie AG |
|
|
|
|
Joint Promoter : |
Metroark Private Limited |
|
|
|
|
Fellow Subsidiaries : |
Wacker Chemicals (China) Company Limited Wacker Chemicals (Zhang.) Company Limited Wacker Chemicals Middle East FZE DRAWIN Vertriebs-GmbH Wacker Chemical Corporation Wacker Chemicals (South Asia) Pte. Limited Wacker Chemicals Hong Kong Limited Wacker Chemicals Korea, Incorporation Wacker Asahikasei Silicone Company Limited Wacker Mexicana S.A. de C.V. Wacker Quimica do Brazil Ltda. Wacker Chemie Italia S.r.l. Wacker Chemie India Private Limited |
CAPITAL STRUCTURE
As on: 26.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.100/- each |
Rs.180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1725000 |
Equity Shares |
Rs.100/- each |
Rs.172.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
172.500 |
172.500 |
172.500 |
|
(b) Reserves & Surplus |
1,934.109 |
1,586.920 |
1,372.912 |
|
(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) |
2,106.609 |
1,759.420 |
1,545.412 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
4.842 |
1.830 |
|
(c) Other long
term liabilities |
1.500 |
5.699 |
4.476 |
|
(d) long-term
provisions |
5.572 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
7.072 |
10.541 |
6.306 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
832.795 |
417.585 |
528.270 |
|
(c)
Other current liabilities |
43.539 |
24.342 |
25.690 |
|
(d) Short-term
provisions |
1,187.969 |
1228.040 |
1021.013 |
|
Total Current
Liabilities (4) |
2,064.303 |
1,669.967 |
1,574.973 |
|
|
|
|
|
|
TOTAL |
4,177.984 |
3,439.928 |
3,126.691 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
269.681 |
297.391 |
286.125 |
|
(ii)
Intangible Assets |
28.518 |
1.800 |
3.185 |
|
(iii)
Capital work-in-progress |
66.774 |
10.832 |
16.044 |
|
(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) |
4.152 |
2.801 |
2.985 |
|
(d) Long-term Loan and Advances |
94.997 |
26.154 |
17.142 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
464.122 |
338.978 |
325.481 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
960.505 |
721.549 |
658.119 |
|
(c)
Trade receivables |
1,271.948 |
935.253 |
766.996 |
|
(d) Cash
and cash equivalents |
384.058 |
331.956 |
473.132 |
|
(e)
Short-term loans and advances |
1,084.806 |
1,099.504 |
890.167 |
|
(f)
Other current assets |
12.545 |
12.688 |
12.797 |
|
Total
Current Assets |
3,713.862 |
3,100.950 |
2,801.210 |
|
|
|
|
|
|
TOTAL |
4,177.984 |
3,439.928 |
3,126.691 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 (9 Months) |
|
|
SALES |
|
|
|
|
|
Income |
4,222.730 |
3,441.350 |
2,100.820 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
|
|
|
Employees benefits
expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
819.720 |
680.010 |
508.090 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
10.860 |
18.390 |
5.950 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
808.860 |
661.620 |
502.140 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.630 |
46.720 |
33.140 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
755.230 |
614.900 |
469.000 |
|
|
|
|
|
|
|
Less |
TAX (I) |
256.680 |
200.410 |
148.110 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
498.550 |
414.490 |
320.890 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
0.300 |
6.290 |
5.880 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
347.000 |
220.000 |
120.000 |
|
|
Dividend |
129.380 |
172.500 |
172.500 |
|
|
Tax on Dividend |
21.990 |
27.980 |
27.980 |
|
|
Total (M) |
498.370 |
420.480 |
320.480 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (J+K+L-M) |
0.480 |
0.300 |
6.290 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
1,692.180 |
1,206.880 |
722.120 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
289.01 |
240.28 |
186.03 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
11.81 |
12.04 |
15.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.88 |
17.87 |
22.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.39 |
17.95 |
15.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.35 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80 |
1.86 |
1.78 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
172.500 |
172.500 |
172.500 |
|
Reserves & Surplus |
1,372.912 |
1,586.920 |
1,934.109 |
|
Net worth |
1,545.412 |
1,759.420 |
2,106.609 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2,100.820 |
3,441.350 |
4,222.730 |
|
|
|
63.810 |
22.706 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2,100.820 |
3,441.350 |
4,222.730 |
|
Profit |
320.890 |
414.490 |
498.550 |
|
|
15.27% |
12.04% |
11.81% |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
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 |
LITIGATION
DETAILS:
|
Case
Status : Pending Status
of TEMP APO (APOT)
457 of 2013 THE STATE OF WEST BENGAL AND ANR Vs. WACKER METROARK CHEMICALS
PRIVATE LIMITED AND OR Pet's
Adv. : PARITOSH SINHA
Res's
Adv.
: Court
No.
: 1
Last Listed On : Friday,
January 10, 2014 Category
: SALES TAX : REVENUE
Case
Updated on: Tuesday, December 24, 2013 |
CORPORATE
INFORMATION:
Subject is a Joint Venture Company formed between Wacker Chemie AG and Metroark Private Limited. It is incorporated under the provisions of the Companies Act, 1956. The company is engaged in the manufacturing and selling the silicones based products. The company caters to both domestic and international markets.
NOTE: NO CHARGES
EXIST FOR THE COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
Vehicles
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 judgment 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.59.73 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
VNK |
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 |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.