MIRA INFORM REPORT
|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
INA BEARINGS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-3, Talegaon Industrial Area, Village Navalakh Umbre, Taluka
Maval, Pune-410507, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
23.09.1997 |
|
|
|
|
Com. Reg. No.: |
25-015240 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 519.475 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN1997PTC015240 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEI04152B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAC17163H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of bearing products and related components. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk
profile marked by below-average operational performance and loss incurred
from operational activities during financial year 2013. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Tushar |
|
Designation : |
Accountant |
|
Contact No.: |
91-20-30614104 |
|
Date : |
05.11.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. A-3 Talegaon Industrial Area, Village Navalakh Umbre, Taluka,
Maval, Pune-410507, |
|
Tel. No.: |
91-20-30614104/ 30614100/ 30614124/ 30614131 / 30614168 |
|
Fax No.: |
91-20-30614362/ 30614308 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Office
1: |
200, 3rd Main, 6th Cross, MICO Layout, Bangalore
– 560076, Karnataka, India |
|
Tel No.: |
91-80-26685516/ 26685583 |
|
Fax No.: |
91-80-26689986 |
|
Email : |
|
|
|
|
|
Regional Office
2 : |
A-322, Ansal Chamber – 1, 3 Bhikaji Cama Place, New Delhi-110066,
India |
|
Tel No.: |
91-11-26712413/ 55608061/ 55673442/ 26189553 |
|
Fax No.: |
91-11-26712412 |
|
Email : |
|
|
|
|
|
Regional Office
3 : |
31, Shakespeare Sarani, |
|
Tel No.: |
91-33-22833226 |
|
Fax No.: |
91-33-22890097 |
DIRECTORS
As on 30.06.2014
|
Name : |
Mr. Joydeep Charu Chandra Roy |
|
Designation : |
Managing Director |
|
Address : |
C – 415, Sobha Quartz Outer Ring Road, Sarjapur, Bangalore-560037,
Karnataka, India |
|
Date of Birth/Age : |
01.10.1964 |
|
Date of Appointment : |
01.10.2011 |
|
DIN No.: |
01051460 |
|
|
|
|
Name : |
Mr. Dharmesh Subhash Chandra Arora |
|
Designation : |
Director |
|
Address : |
13 Aarohi Villa, 200 Ft Road, Bopal, Ahmedhabad – 380058, Gujarat, India |
|
Date of Birth/Age : |
08.08.1967 |
|
Date of Appointment : |
09.08.2012 |
|
DIN No.: |
05350121 |
|
|
|
|
Name : |
Mr. Norbert Willibald Indelkofer |
|
Designation : |
Director |
|
Address : |
Honaustrabe 40, |
|
Date of Birth/Age : |
19.01.1958 |
|
Date of Appointment : |
31.12.2005 |
|
DIN No.: |
01418168 |
KEY EXECUTIVES
|
Name : |
Mr. Tushar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Industriewerk
Schaeffler INA - Ingenierdienst GmbH, Germany |
|
22274399 |
|
Schaeffler Beteiligungs
Gesellschaft GmbH, |
|
1 |
|
INA Beteiligungsvererwaltungs Gmbh, Germany |
|
29673100 |
|
Total |
|
51947500 |
As on 30.06.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
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 bearing products and
related components. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institution : |
Fag Bearings India Limited, Nariman Bhavan 8th Floorbackbay
Reclamation, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next To Ruby Hall Clinic, Bund Garden Road, Pune – 411001, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Ultimate holding
company |
INA Holding GmbH and Co. KG, Germany |
|
|
|
|
Holding company |
INA Beteiligungsverwaltungs GmbH, Germany |
|
|
|
|
Fellow subsidiary /
associate companies |
|
CAPITAL STRUCTURE
As on 30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53000000 |
Equity Shares |
Rs.10/- each |
Rs.530.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51947500 |
Equity Shares |
Rs.10/- each |
Rs.519.475
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2013 |
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
519.475 |
519.475 |
|
(b) Reserves & Surplus |
|
(74.993) |
77.533 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
444.482 |
597.008 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2598.502 |
1711.929 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.060 |
0.060 |
|
(d) long-term
provisions |
|
58.753 |
50.172 |
|
Total Non-current
Liabilities (3) |
|
2657.315 |
1762.161 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
209.220 |
0.000 |
|
(b) Trade
payables |
|
1453.608 |
1491.617 |
|
(c) Other
current liabilities |
|
423.611 |
533.127 |
|
(d) Short-term
provisions |
|
18.706 |
51.819 |
|
Total Current
Liabilities (4) |
|
2105.145 |
2076.563 |
|
|
|
|
|
|
TOTAL |
|
5206.942 |
4435.732 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1480.207 |
1338.974 |
|
(ii)
Intangible Assets |
|
0.014 |
0.056 |
|
(iii)
Capital work-in-progress |
|
319.959 |
216.232 |
|
(iv)
Intangible assets under development |
|
0.459 |
0.000 |
|
(b) Non-current Investments |
|
95.752 |
95.752 |
|
(c) Deferred tax assets (net) |
|
228.486 |
183.510 |
|
(d) Long-term Loan and Advances |
|
134.254 |
186.029 |
|
(e) Other Non-current
assets |
|
0.134 |
0.123 |
|
Total Non-Current
Assets |
|
2259.265 |
2020.676 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1213.634 |
801.967 |
|
(c) Trade
receivables |
|
1124.771 |
910.887 |
|
(d) Cash
and cash equivalents |
|
183.528 |
374.684 |
|
(e)
Short-term loans and advances |
|
367.674 |
327.518 |
|
(f) Other
current assets |
|
58.070 |
0.000 |
|
Total
Current Assets |
|
2947.677 |
2415.056 |
|
|
|
|
|
|
TOTAL |
|
5206.942 |
4435.732 |
|
SOURCES OF FUNDS |
|
|
31.12.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
519.475 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
49.331 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
568.806 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
450.000 |
|
|
2] Unsecured Loans |
|
|
1252.518 |
|
|
TOTAL BORROWING |
|
|
1702.518 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2271.324 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1030.830 |
|
|
Capital work-in-progress |
|
|
240.772 |
|
|
Capital Advance |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
164.605 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
756.616
|
|
|
Sundry Debtors |
|
|
777.894
|
|
|
Cash & Bank Balances |
|
|
305.383
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
363.915
|
|
Total
Current Assets |
|
|
2203.808
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1248.697
|
|
|
Other Current Liabilities |
|
|
67.907
|
|
|
Provisions |
|
|
52.087
|
|
Total
Current Liabilities |
|
|
1368.691
|
|
|
Net Current Assets |
|
|
835.117
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2271.324 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
6765.000 |
5769.000 |
5161.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
6534.000 |
5403.000 |
4819.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
231.000 |
366.000 |
342.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
190.000 |
77.000 |
86.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.000 |
289.000 |
256.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
271.000 |
246.000 |
236.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(230.000) |
43.000 |
20.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(45.000) |
15.000 |
6.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(185.000) |
28.000 |
14.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
77.000 |
49.000 |
35.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(108.000) |
77.000 |
49.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.56) |
0.54 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.04) |
1.09 |
0.62
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.52) |
0.07 |
0.04
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.32 |
2.87 |
2.99
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40 |
1.16 |
1.61
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.12.2012 |
31.12.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
|
519.475 |
519.475 |
|
Reserves & Surplus |
|
77.533 |
(74.993) |
|
Net worth |
|
597.008 |
444.482 |
|
|
|
|
|
|
long-term borrowings |
|
1711.929 |
2598.502 |
|
Short term borrowings |
|
0.000 |
209.220 |
|
Total borrowings |
|
1711.929 |
2807.722 |
|
Debt/Equity ratio |
|
2.868 |
6.317 |
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 |
5161.000 |
5769.000 |
6765.000 |
|
|
|
11.781 |
17.265 |
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 |
5161.000 |
5769.000 |
6765.000 |
|
Profit |
14.000 |
28.000 |
-185.000 |
|
|
0.27% |
0.49% |
-2.73% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
96.379 |
416.976 |
NA |
|
|
|
|
|
|
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 |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Industry Backdrop and
Future Prospects
Developments in 2013
In the Year 2013, India's real GDP growth rate was 4.8% with respect to predicted GDP growth rate of 5.3%; Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force. Agricultural sector accounted for 13.7% in country's GDP with more than 50% of its labor force. Automotive Industry is one of the major contributors in manufacturing sector. Overall its output had a registered/ de-growth of -1% compared to previous year in terms of volume at the backdrop of surging inflation and weakened demand cycle.
The Indian ancillary industry is basically divided into two segments i.e. organised and unorganized. Whereas the organised segment caters to the high precision engineering products, the unorganized segment produces low value added components for the auto industry. The company captured high market share in the organised sector due to it's continues focus on technologically high-quality products.
The Indian auto component industry is expected to reach a turnover worth US$ 113 billion by 2020-21 from US$ 42 billion in 2012-13, according to Automotive Component Manufactures' Association (ACMA) report titled, 'Auto Component Industry in India: Growing Capabilities and Strengths'. The exports from the industry are expected to grow at a compound annual growth rate (CAGR) of 17 per cent during 2012-21, the ACMA report highlighted. In 2012-13 Export grew by 10%.
Outlook
Indian economy is driven more through domestic market demand, as a result it is imperative for government to focus and introduce initiatives to attract investments in infrastructure, manufacturing, agriculture and services sectors. With initiatives re-launched by government, it is envisaged that GDP for Year 2014 will be around 5.4%. It is also inevitable to reduce subsidies on diesel in order to narrow down ever increasing fuel price gap.
Furthermore, we are convinced that as the Indian industry aligns itself to strict emission norms and higher carbon accountability, the company is having a much important role to proactively act with OEM's in co-innovating component, subsystem and system solutions. To proceed on it, the company has just revealed it's state of the art engineering expertise; equipped with it's components, subsystems and system solutions in the Schaeffler concept car Efficient future Mobilityï for developing economies such as India. It has further moved on to develop a proposal to develop a concept vehicle aligned to Schaeffer's vision towards Mobility for Tomorrow.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.12.2013 |
As
on 31.12.2012 |
|
Long Term
Borrowing |
|
|
|
Foreign currency term loans from other |
1748.502 |
1261.929 |
|
Short Term Borrowing |
|
|
|
Working capital loans from banks |
209.220 |
0.000 |
|
Total |
1957.722 |
1261.929 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10448682 |
20/08/2013 |
350,000,000.00 |
FAG BEARINGS INDIA LIMITED |
NARIMAN BHAVAN 8TH FLOORBACKBAY RECLAMATION, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B84837806 |
|
2 |
10155672 |
10/05/2012 * |
500,000,000.00 |
FAG BEARINGS INDIA PRIVATE LIMITED |
NARIMAN BHAVAN, 8TH FLOOR, 227,, BACKBAY RECLAMATION,
NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, |
B40812448 |
* Date of charge modification
FIXED ASSETS
- Building
- Leasehold Land
- Leasehold Improvements
- Office Equipment
- Plant and Machinery
- Furniture, Fittings and Equipment
- Motor Vehicles
- 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.61.39 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.