MIRA
INFORM REPORT
|
Report Date : |
20.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CG LUCY
SWITCHGEAR LIMITED |
|
|
|
|
Registered
Office : |
6th Floor, CG House, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.08.1994 |
|
|
|
|
Com. Reg. No.: |
11-080208 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH1994PLC080208 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Electrical Switchgear. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1305000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is good. The company is
performing well. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct 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.
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 PARTED BY
|
Name : |
Mr. Mukesh Mehta |
|
Designation : |
Deputy Manager in Finance |
|
Contact No.: |
91-253-2581603 |
|
Date : |
19.05.2014 |
LOCATIONS
|
Registered Office : |
6th Floor, CG House, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
F-10, MIDC, Ambad, Nashik
– 422010, |
|
Tel. No.: |
91-253-2381603 |
|
Fax No.: |
91-253-2381542 |
|
|
|
|
Production Center : |
H – 21, MIDC, Ambad, Nashik,
Maharashtra, India |
DIRECTORS
As on 17.09.2013
|
Name : |
Mr. Charles Richard Dick |
|
Designation : |
Director |
|
Address : |
South Lawn, |
|
Date of Birth/Age : |
13.05.1950 |
|
Date of Appointment : |
09.08.1994 |
|
DIN : |
00256413 |
|
|
|
|
Name : |
Carl Nicholas Sellick |
|
Designation : |
Director |
|
Address : |
3, Raeside Close, Seer Green, |
|
Date of Birth/Age : |
14.07.1967 |
|
Date of Appointment : |
17.03.2000 |
|
DIN : |
00269060 |
|
|
|
|
Name : |
Mr. Christopher Robert Levick |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
14.03.1948 |
|
Date of Appointment : |
20.10.2005 |
|
DIN : |
00269085 |
|
|
|
|
Name : |
Mr. Jayant Govindrao
Kulkarni |
|
Designation : |
Director |
|
Address : |
2, Datta Kunj, Annad Nagar, Gangapur Road, Nashik – 422005,
Maharashtra, India |
|
Date of Birth/Age : |
27.10.1954 |
|
Date of Appointment : |
01.11.2004 |
|
DIN : |
00348942 |
|
|
|
|
Name : |
Mr. Trilochan Sar |
|
Designation : |
Alternate Director |
|
Address : |
C-305, Pearl Drop, GE Gardens, LBS Marg, Kajur Marg (West), Mumbai –
400078, Maharashtra, India |
|
Date of Birth/Age : |
03.08.1956 |
|
Date of Appointment : |
12.05.2010 |
|
DIN : |
01971897 |
|
|
|
|
Name : |
Mr. Mukul Srivastava |
|
Designation : |
Director |
|
Address : |
6, Asher Enclave Estate, Upnagar, Nashik – 422006, Maharashtra,
India |
|
Date of Birth/Age : |
03.11.1968 |
|
Date of Appointment : |
20.11.2007 |
|
DIN : |
02005717 |
|
|
|
|
Name : |
Mr. Graham Frederick Briggs |
|
Designation : |
Director |
|
Address : |
61, Westend, Witney,
Oxon, OX281NJ, |
|
Date of Birth/Age : |
23.08.1962 |
|
Date of Appointment : |
20.11.2007 |
|
DIN : |
02007408 |
|
|
|
|
Name : |
Mr. Laurent Dominique Leon Demortier |
|
Designation : |
Director |
|
Address : |
9 Avenue De La Passerelle, |
|
Date of Birth/Age : |
02.05.1961 |
|
Date of Appointment : |
27.07.2011 |
|
DIN No.: |
03520825 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2013
|
Names of Shareholders |
No. of Shares |
|
Keval Kishor Nohria |
1 |
|
Sudhir Mohan Trehan |
1 |
|
W Lucy and Company, |
600000 |
|
Crompton Greaves Limited, |
599993 |
|
Mukul Srivastava |
1 |
|
Wilton Henriques |
1 |
|
Jayant Govondrao Kulkarni |
1 |
|
Trilochan Sar |
1 |
|
Sushant Arora |
1 |
|
|
|
|
Total |
1200000 |
As on 17.09.2013
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 |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electrical Switchgear. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Exports : |
|
||||||||||
|
Products : |
Switchgear |
||||||||||
|
Countries : |
|
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Products : |
Raw Material |
||||||||||
|
Countries : |
|
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cash, L/C and Credit |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS (As On 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Electrical Apparatus (RMU and Others) |
Nos. |
7800 |
7800 |
3052 |
|
Total |
Nos. |
7800 |
7800 |
3052 |
GENERAL INFORMATION
|
No. of Employees : |
40 (Approximately) |
|
|
|
|
Bankers : |
Corporation Bank,
Industrial Finance Branch, No-104, Bharat House,
Fort, B. S. Marg, Mumbai- 400001, Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
2nd Floor, 194, Ravindra Annex, Churchgate Reclamation, Dinshaw
Vaccha Road, Mumbai – 400020, Maharashtra,
India |
|
Tel No.: |
91-22-22047722 / 23 |
|
Fax No. : |
91-22-66338352 |
|
Email : |
|
|
PAN No.: |
AAAFS2967E |
|
|
|
|
Fellow Subsidiary / Associated Companies : |
|
|
|
|
|
Parties where control exits : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.10/- each |
Rs.12.000 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 |
12.000 |
12.000 |
12.000 |
|
(b) Reserves & Surplus |
314.259 |
291.586 |
273.302 |
|
(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) |
326.259 |
303.586 |
285.302 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.582 |
9.135 |
10.957 |
|
(b) Deferred tax liabilities (Net) |
4.629 |
2.267 |
0.442 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
12.211 |
11.402 |
11.399 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
161.426 |
70.927 |
82.758 |
|
(c) Other current
liabilities |
9.450 |
4.829 |
1.577 |
|
(d) Short-term provisions |
5.457 |
5.415 |
8.463 |
|
Total Current Liabilities (4) |
176.333 |
81.171 |
92.798 |
|
|
|
|
|
|
TOTAL |
514.803 |
396.159 |
389.499 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
68.934 |
66.150 |
69.366 |
|
(ii) Intangible Assets |
7.069 |
0.128 |
0.000 |
|
(iii) Capital
work-in-progress |
1.154 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
1.096 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.421 |
3.016 |
2.916 |
|
(e) Other Non-current assets |
0.000 |
0.061 |
0.056 |
|
Total Non-Current Assets |
80.674 |
69.355 |
72.338 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
89.622 |
66.111 |
94.200 |
|
(c) Trade receivables |
235.922 |
183.635 |
97.637 |
|
(d) Cash and cash
equivalents |
17.659 |
12.461 |
11.425 |
|
(e) Short-term loans and
advances |
90.915 |
64.597 |
113.899 |
|
(f) Other current assets |
0.011 |
0.000 |
0.000 |
|
Total Current Assets |
434.129 |
326.804 |
317.161 |
|
|
|
|
|
|
TOTAL |
514.803 |
396.159 |
389.499 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
660.194 |
386.978 |
575.108 |
|
|
|
Other Income |
8.142 |
9.037 |
5.008 |
|
|
|
TOTAL |
668.336 |
396.015 |
580.116 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
592.403 |
313.250 |
472.850 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(19.591) |
8.586 |
17.143 |
|
|
|
Employees benefits expense |
32.033 |
23.393 |
26.056 |
|
|
|
Other expenses |
25.285 |
19.130 |
20.147 |
|
|
|
TOTAL |
630.130 |
364.359 |
536.196 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
38.206 |
31.656 |
43.920 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.023 |
0.007 |
0.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
38.183 |
31.649 |
43.855 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.813 |
4.233 |
4.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
33.370 |
27.416 |
39.035 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.953 |
8.775 |
12.064 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
22.417 |
18.641 |
26.971 |
|
|
|
|
|
|
|
|
|
Add |
TAXATION
ADJUSTMENTS OF EARLIER YEARS |
0.256 |
(0.357) |
3.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
AND TAXATION ADJUSTMENTS OF EARLIER YEARS |
22.673 |
18.284 |
30.806 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
246.402 |
228.118 |
197.312 |
|
|
|
BALANCE CARRIED
TO THE B/S |
269.075 |
246.402 |
228.118 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB Basis |
68.901 |
60.954 |
80.875 |
|
|
TOTAL EARNINGS |
68.901 |
60.954 |
80.875 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components, stores and Spare Parts |
84.659 |
26.629 |
73.049 |
|
|
TOTAL IMPORTS |
84.659 |
26.629 |
73.049 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.89 |
15.24 |
25.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.35 |
4.71 |
4.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.05 |
7.08 |
6.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.51 |
6.92 |
10.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.09 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02 |
0.03 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.46 |
4.03 |
3.42 |
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 |
12.000 |
12.000 |
12.000 |
|
Reserves & Surplus |
273.302 |
291.586 |
314.259 |
|
Net
worth |
285.302 |
303.586 |
326.259 |
|
|
|
|
|
|
long-term borrowings |
10.957 |
9.135 |
7.582 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
10.957 |
9.135 |
7.582 |
|
Debt/Equity
ratio |
0.038 |
0.030 |
0.023 |
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 |
575.108 |
386.978 |
660.194 |
|
|
|
(32.712) |
70.602 |
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 |
575.108 |
386.978 |
660.194 |
|
Profit |
26.971 |
18.641 |
22.417 |
|
|
4.69% |
4.82% |
3.40% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
31.03.2011 (Rs. In Millions) |
|
Current
Maturities of Long Term Debts |
|
|
|
|
Sales tax deferral loan |
1.553 |
1.434 |
0.000 |
|
|
|
|
|
|
Total |
1.553 |
1.434 |
0.000 |
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment
liability |
7.582 |
9.135 |
|
Sales Tax Deferral Loan [Interest free] (under part I of package scheme of incentives (Deferral scheme), 1993, implemented through SICOM Limited |
|
|
|
|
|
|
|
Total |
7.582 |
9.135 |
INDEX OF CHARGES
No Charges Exist for Company
OPERATIONS:
The Company has achieved Net sales of Rs. 660.190 million during the year. However, there has been increased pressure on sales and the operating margins due to competition and increased material cost.
CONTINGENT LIABILITIES AND COMMITMENT
|
PARTICULAR |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
Contingent Liabilities |
|
|
|
Excise duty
liability (including interest and penalty) that may arise in respect of
matters in appeal preferred by the company |
0.081 |
0.081 |
|
Income tax liability (including interest and penalty) that may arise in respect of matters in appeal
preferred by the company |
31.220 |
22.881 |
|
Income tm
liability that may arise in respect of matters in appeal preferred by the
department. |
0.000 |
1.604 |
|
Custom duty liability
(including interest) that may arise in respect of matters in appeal preferred
by the department |
0.000 |
2.705 |
|
|
|
|
|
Commitments : |
|
|
|
Estimated amount
of contracts remaining to be executed
on capital account and not provided for (net of advances) |
85.055 |
0.000 |
NOTE:
i. The Company does not expect any reimbursement in respect of the aforesaid contingent liabilities.
ii. It is not practical to estimate the timing of cash outflows, if any in respect of (a) to (b) above pending resolution of legal proceedings.
FIXED ASSETS
Tangible Assets
œ Leasehold Land
œ Office Building
œ Plant and machinery
œ Computers
œ Furniture and Fixture
œ Office equipment
œ Vehicles
Intangible Assets
œ Technical Knowhow
œ Computer Software
œ Research and Development
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.58.43 |
|
|
1 |
Rs.98.28 |
|
Euro |
1 |
Rs.80.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.